The supplied assertion is best reflected by the Firm operations.
What is firm?A firm is an for-profit business entity that offers professional services, such as an corporation, company with limited liability (LLC), or partnership. Most businesses only have one location. They insist on keeping tight reins on the project. His voice was gentle but stern as he addressed her.
Are companies and firms the same thing?A business that seeks to make money by offering goods and services is known as a firm. Firm and business are both acceptable terms. Numerous business structures, including sole proprietorships and corporations, are possible.
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What is the annual inventory cost of the current system in
which product is produced, labeled, and packed in Malaysia
before being shipped to the DC?
2. How would the inventory cost change if labeling and packaging
were moved to the DC? Evaluate the change in
inventory costs as the correlation coefficient of demand
between any pair of customers varies from 0 to 0. 5 to 1. 0.
3. How should PE set up its production, labeling, and packaging
processes? Does your answer change if the additional
cost of labeling and packaging at the DC is reduced
to $1 (from the current value of $2)?
1) The time frame is typically one year. The total cost of inventory is the sum of the purchase, ordering, and holding charges. PC stands for purchase cost, OC for ordering cost, and HC for holding cost.TC stands for total cost.
What does inventory quantity mean?
A "economic order" (EOQ) is a quantity of inventory that, over time, lowers the overall cost of acquiring and maintaining inventory. The time frame is typically one year.
The total cost of inventory is the sum of the purchase, ordering, and holding charges. In a formula, the total cost (TC) is equal to the purchase cost (PC), the ordering cost (OC), and the handling cost (HC), where PC is the purchase cost.
2. If the inventory is postponed to DC, the aggregate demand at manufacturing for common items will be generate.
Average Aggregate demand for items is as follows: Dc = ∑Di
S.D of the aggregate demand is given as:
Var (DC) = ∑σi2 + 2∑ρiσi
S.D.c = Sqrt (Var (DC))
ρi = Coefficient of correlation
3. The Total Inventory cost of centralization of inventory or aggregation of demand is much more less than disaggregated demand.
Thus, it is advisable to move the labeling and packaging to DC.
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mike started a calendar-year business on september 1st of this year by paying 12 months of rent on his shop at $700 per month. what is the maximum amount of rent that mike can deduct this year under each type of accounting method?
The maximum amount of rent that Mike can deduct this year depends on the accounting method he is using. That is $ 2800 under the cash method and $ 8400 under the accrual method.
If Mike is using the cash method of accounting, he can deduct the rent payments that he actually paid during the tax year. Since he started the business on September 1st, he would have paid rent for the months of September, October, November, and December, a total of 4 months. Therefore, the maximum amount of rent that he can deduct this year is $700 x 4 = $2800.
If Mike is using the accrual method of accounting, he can deduct rent payments for the period that he is entitled to the use of the property, regardless of when he paid the rent. Since he started the business on September 1st and paid 12 months of rent in advance, he is entitled to use the property for the entire year. Therefore, the maximum amount of rent that he can deduct this year is $700 x 12 = $8400.
It's important to note that if Mike elected to use the cash method of accounting, he must stick with it for at least the first year of business and for future years unless he receives the IRS approval to change it.
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An obligation of repayment owed by one party to a second party in most cases: repayment includes interest
An obligation of repayment owed by one party to a second party in most cases: repayment includes interest is caled a loan.
What do you mean by loan?A loan is a kind of debt that what a people or other entity incurs. The lender advances the borrower one certain amount of money, generally on the behalf of a business, financial institution, or government. The borrower adopts a specific list of conditions in return, that may include any economic costs, interest, a repayment plan, and other requirements.
What type of loan is easiest to get?Payday loans, auto equity loans, pawnshop loans, and no credit check personal loans are the loans which are the simplest to be approved for. These loans are affordable to individuals with a wide range of payment history because they offer immediate financing and have few conditions.
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_____ a marketing is the trade of things of value between a buyer and seller so that each is better off afterward.
One of the fundamental components of marketing that was taken from economics is a. this refers to a transaction when goods of value are exchanged between buyer and supplier.
What word in any description of marketing is the most crucial?In marketing, the word relationship is crucial. The relationships you develop with both current and potential consumers are ultimately and specifically what set you apart from your rivals. Marketing's goal is to assist in fostering corporate ties with the appropriate demographic.
Which of the following best sums up marketing strategy?The marketing plan is a long term,, forward looking perspective and an overall game design of any company or organization with the core aim of establishing a long term competitive advantage via comprehending the wants and requirements of customers.
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tony's job entails making sure his company's products get to retailers so that target customers can buy them. which element of the marketing mix is tony involved with?
Tony's job entails making sure his company's products get to retailers so that target customers can buy them. Distribution element of the marketing mix is tony involved with.
Distribution as part of the marketing mix is crucial for business expansion. Using a variety of types and techniques to expand reach and boost revenue is a great distribution channel approach.
Here are several distribution strategies for the marketing mix.
1. Direct- Direct distribution refers to the sale and delivery of goods by manufacturers to customers without the involvement of intermediaries or other organizations.
2. Indirect- Using various channels to get your product in front of customers is known as an indirect distribution strategy. Distribution typically takes place through channels that are direct to consumers or third-party retailers.
3. Intensive- A manufacturer can decide to reach as many stores as possible in order to gain market share. Intensive distribution may be used to describe this. The most typical products that are distributed in this way are candy bars, home goods, and beverages.
4. Exclusive- When a firm chooses just a few sales locations to offer their products, this is known as exclusive distribution.
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The major difficulty in most insider-trading cases has been Multiple choice a. That lenient judges have simply released the guilty individuals. b. That insider trading, even though illegal, actually serves a beneficial economic and financial purpose. c. That inside trades have not been legally well- defined. d. That it is hard to figure out which owner(s) benefited from the trade.
The major difficulty in most insider-trading cases is that it is hard to figure out which owner(s) benefited from the trade so option D is correct.
Insider trading is a form of illegal trading of stocks that occurs when a person with privileged information about a company buys or sells shares of that company’s stock. This privileged information can give the bigwig an advantage over other investors and can affect in gains or losses for them. Though insider trading is illegal, it's veritably delicate to trace the source of the illegal trading or to figure out which proprietor( s) served from the trade.
In numerous cases, tracing the source of the illegal trade is delicate due to the complexity of fiscal requests and the difficulty of tracing deals. also, because of the secretiveness involved in bigwig trading, it's delicate to establish guilt and prove beyond a reasonable mistrustfulness that a particular proprietor served from the trade. As a result, numerous bigwig- trading cases are delicate to make, performing in lenient rulings or the shamefaced individualities being released.
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An example of a controllable risk would be
(A) effects of a hurricane.
(B) effects of smoking.
(C) an act of war.
(D) effects of air pollution.
B). An example of a controllable risk would be effects of smoking.
A risk is a situation that involves exposure to danger. A controllable risk is the one that can be done something about while an uncontrollable risk is the one that cannot be done or corrected by us.
Some of the examples of controllable risk include smoking, high blood pressure, high cholestrol, obesity, over weight, stress, diabetes and many more.
While some of the examples of uncontrollable risk include age, gender, natural disasters, heart diseases based on age, gender, race and heredity.
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a neutral person to help conflicting parties resolve their dispute and reach an agreement is known as a
A mediator is a neutral third party who helps conflicting parties reach an agreement.
What is mediator?Mediator is a neutral third party who assists in resolving disputes between two or more parties. The mediator helps the parties to identify and clarify issues, explore options for resolution, and reach an agreement that is acceptable to all parties. Mediation is a voluntary process, and the mediator does not have the authority to impose a settlement on the parties. The mediator facilitates communication between the parties, encourages them to be creative in finding solutions, and helps them reach an agreement that meets their interests. Mediation is often used in family law matters such as divorce or child custody disputes, as well as in business or civil disputes. It can be an effective way of resolving conflicts without resorting to costly litigation.
The mediator facilitates communication between the parties, helps them identify their interests, and assists them in finding mutually acceptable solutions.
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john is an economist with a large american fortune 500 company. while looking over the data, he observes that both the producer price index (ppi) and consumer price index (cpi) have been growing very fast for the last 3 quarters. john is afraid that:
John, as an economist, is likely afraid that the fast growth of both the Producer Price Index (PPI) and Consumer Price Index (CPI) for the last 3 quarters may indicate an overall increase in inflation.
This can harm the company's profits and competitiveness as it may have to raise its prices to keep up with the inflation which can lead to a decrease in demand for the company's products. Additionally, the fast growth of PPI and CPI can also indicate an increase in production costs, which can further decrease the company's profit margins. Furthermore, high inflation can also lead to a decrease in consumer purchasing power, which can negatively impact the company's sales.
It can also affect the exchange rate which can also impact the company's international trade.
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on january 1, 2020, dingman company purchased 15% of the voting common stock of honigman corp. later, on january 1, 2022, dingman increased their holdings to 32% of honigman voting common stock. if dingman achieves significant influence with this additional investment, how must dingman account for the change to the equity method
Dingman Company must account for the increase in their holdings of Honigman Corp's voting common stock using the equity method of accounting.
Under this method, an investor records its investment in an affiliate at cost and adjusts the carrying amount for the investor's share of the affiliate's net income or loss, and any other changes in the affiliate's equity that are not directly attributable to transactions with the investor.
When Dingman first purchased 15% of Honigman Corp's voting common stock on January 1, 2020, they would have initially recorded the investment at cost and then adjusted the carrying amount for their share of Honigman's net income or loss.
On January 1, 2022, when Dingman increased their holdings to 32%, they would have to make additional adjustments to their investment in Honigman to reflect their increased ownership percentage. This would likely include re-measuring the investment at fair value and recognizing any gain or loss.
Additionally, the equity method requires Dingman to include their share of Honigman's net income in their own income statement, and to reflect their share of Honigman's retained earnings in their own balance sheet. Since Dingman achieved significant influence with this additional investment, it must account for the change in equity method as well as report this investment in its financial statement as a long-term investment in affiliate.
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You’ve worked for several years in a department where most employees had recently graduated from college. Tomorrow, however, you start a new position, and most of your coworkers will be nearing retirement age. Based on research findings about people of the Baby Boomer generation, what attitudes can you expect your new colleagues to hold? Check all that apply.( ) They tend to feel loyalty to the organization.( ) They tend to place work at the center of their lives.( ) They tend to believe that hard work and sacrifice should be rewarded.( ) They tend to cultivate their individual identities and seek personalized experiences.
They tend to feel loyalty to the organization that attitudes can you expect your new colleagues to hold.
According to research on members of the Baby Boomer group, you can anticipate your new coworkers to have the following attitudes:
They frequently experience a sense of loyalty to the company (X).They frequently prioritise their careers over all else (X).They have a propensity to think that effort and sacrifice should be rewarded (X).They frequently cultivate their unique identities and look for experiences that are tailored to them.The following notions about career resilience are crucial to remember: () Job stability is a given because the economy has consistently developed over the long term. Some entire employment categories might not return as the economy recovers from a downturn.
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multiple choice: problems new business is just being formed by 10 investors, each of whom will own 10% of the business. the firm is expected to earn $500,000 before taxes each year. the corporate tax rate is 34% and the personal tax rate for the firm's investors is 35%. the firm does not need to retain any earnings, so all of its after-tax income will be paid out as dividends to its investors. the investors will have to pay personal taxes on whatever they receive. how much additional spendable income will each investor have if the business is organized as a partnership rather than as a corporation?
The government taxes income to run the country and provide common facilities like defense, among other things. The tax rate varies depending on the type of business entity you set up.
Income taxes are levied on individuals, while corporate taxes are levied on businesses.
What does it mean to levy taxes?In nearly every nation on the planet, governments impose compelled taxes on individuals or organizations. Although it can also be used for other purposes, the primary goal of taxation is to raise money for government expenditures.
Which three kinds of taxes are there?A progressive tax is one that taxes more of a person's income from people with higher incomes than from people with lower incomes. A proportional tax is one that imposes the same tax on all income groups. regressive tax: A tax that takes a larger share of income from groups with lower incomes than from groups with higher incomes.
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the maker of wrigley chewing gum funded a $10 million ad campaign aimed at getting african americans to use doctors for regular health care maintenance instead of only when they are sick. this is an example of
The maker of Wrigley chewing gum funded a $10 million ad campaign aimed at getting African Americans to use doctors for regular healthcare maintenance instead of only when they are sick. Wrigley is taking a(n) proactive approach to social responsibility.
What is proactive approach to social responsibility?Proactive corporate social responsibility (CSR) refers to business strategies and practices that companies voluntarily employ that go above and beyond what is required by law in order to manage their social duties and, as a result, make significant and beneficial contributions to society. Economic, social, and environmental are the three foundations. These three major areas are the emphasis of a company's sustainable development strategy, and action plans are made in accordance with them. Instead of simply reacting to an already-occurring problem, a proactive approach involves taking action in advance of a potential future one. Being proactive means bringing about change inside the organization. According to the ethical principle of social responsibility, every person has an obligation to uphold their social responsibilities, and their deeds must benefit society as a whole.To learn more about proactive approach refer to:
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For PCL Construction, implementing new information technologies ________.
For PCL Construction, the implementation of new information technology is an essential part of their process to remain competitive in the industry. PCL has developed a comprehensive IT strategy that is tailored to their business needs and goals.
This strategy includes the use of new technologies such as cloud computing, mobile computing and enterprise resource planning (ERP) systems to help manage and store their data. In addition, PCL has implemented a company-wide project management system that provides an overview of all their projects while helping to monitor project progress and performance. Finally, PCL has implemented a comprehensive information security plan to protect the data stored on their systems. All of these technologies help PCL remain competitive by providing them with the tools necessary to effectively manage their operations and projects.
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thomas wants to gain a usable understanding of consumer behavior in order to help him become a more effective marketing manager. which application of consumer behavior does this represent?
This exemplifies how
This represent marketing strategy application of consumer behaviour,
What is marketing strategy?A marketing strategy is a long-term plan for achieving a company's objectives by comprehending customer needs and developing a distinctive and sustainable competitive advantage. It covers everything, from choosing which channels to use to reach your customers to figuring out who they are.
With a marketing strategy, you can specify how your business positions itself in the market, the kinds of products you produce, the strategic partners you select, and the kinds of advertising and promotion you engage in.
Marketing aims to connect your business with potential customers and those customers with your products. It entails comprehending customer needs, converting those needs into goods and services, putting a price on those goods and services, and then persuading customers that they must purchase those goods and services.
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creating a win-win situation for all relevant parties so that everyone benefits from the decision is known as:
A negotiation should begin by establishing a firm position. However, if you become too firmly entrenched, confrontation may break out and the conversation may end abruptly. By engaging in "principled negotiating," a win-win negotiation strategy, you can prevent this.
A win-win negotiation involves carefully examining your own position as well as that of your counterpart in order to reach a solution that provides you both the most of what you desire. A win-win situation is one in which you both feel satisfied with the benefits of the agreement.
In a win-win situation, the other party will want what you are willing to trade for and you will be willing to offer him what he wants.
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what was the company’s plantwide predetermined overhead rate?
The company's plantwide predetermined overhead rate is determined by dividing the total estimated overhead costs by the total estimated activity. The specific rate will depend on the company's estimated costs and activity.
How do you compute the plantwide predetermined overhead rate?
To calculate a plantwide predetermined overhead rate, the total estimated overhead costs for the period should be divided by the total estimated allocation base.
The allocation base is the total amount of activity expected to occur during the period, such as direct labor hours, machine hours, or direct labor costs. This calculation produces a rate that can then be applied to the actual activity in the period.
For example, if the estimated overhead costs are $100,000 and the estimated direct labor hours are 10,000, the predetermined overhead rate would be $10 per direct labor hour. This rate could then be applied to the actual direct labor hours in the period to determine the amount of overhead to be allocated.
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agency problems are least likely to arise in which organizational form? multiple choice sole proprietorship limited partnership corporation subchapter s corporation
Option A, Sole proprietors run unincorporated businesses. If you treat a domestic LLC as a corporation, you are not a sole proprietor.
There is no formal separation between the owner and the business entity in a sole proprietorship, which is also known as a sole trader ship, individual entrepreneurship, or proprietorship. In some cases, a sole proprietor may have employees in addition to themselves.
Considering that unregistered sole proprietorships are not afforded any legal protection by the state, this is arguably one of their biggest drawbacks. This means that the owner is personally responsible for all debts incurred by the company.
The profits of a sole proprietorship are subject to both income taxes and self-employment taxes, which the proprietor must declare and pay on their personal tax returns.
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The right way of asking the question is:
Agency problems would be least likely to arise
a) in sole proprietorships.
b) in partnerships with less than 3 partners.
c) in partnerships with 3 or more partners.
d) in for-profit corporations.
e) in not-for-profit corporations.
in terms of the production possibility frontier, inefficient use of available resources is shown by: group of answer choices a point inside the production possibility frontier. an increase in the labor force growth rate. an inward shift of the production possibility frontier due to the lack of opportunity. a movement from one point to another along the production possibility frontier.
A position inside the production possibility frontier, in terms of the production possibility frontier, illustrates poor use of the available resources.
What is production possibility frontier?The graph known as the Production Possibilities Frontier (PPF) shows all the output combinations of two different products that are feasible given the resources and technology currently in use.The production possibilities curve quantifies the trade-off between manufacturing one good versus another. Take the case of a country that produces 120,000 apples and 20,000 oranges, for instance. This is point B on the chart. Less apple production is necessary if it wishes to increase orange production. A community can generate a certain number of different combinations of products and services depending on the resources at its disposal, which is known as the production possibilities frontier, or PPF. Alternatives inside the PPF are ineffective, while alternatives outside it are impossible (at least in a sustained sense).To learn more about production possibility frontier, refer to:
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the measurement attribute based on future cash flows and the objective of approximating fair value in valuing an asset or liability is multiple choice question. historical cost present value current cost net realizable value
The measurement attribute based on future cash flows and the objective of approximating fair value in valuing an asset or liability is called present value. So option b. is correct.
Present value states that an amount of money today is worth more than the exact amount in the future. In other words, the present value indicates that money received in the future is not worth as much as a similar amount obtained today. Unspent money today could relinquish significance in the future by an indicated annual rate due to inflation or the rate of return if the money was financed. Calculating present value implicates inferring that a rate of return could be attained on the funds over the time.
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economic action done or brought about by free choice called ______
Economic action done or brought about by free choice called voluntary exchange.
What is economic action?
Economic action is a term used to describe the economic activities carried out by individuals, businesses, and governments to improve their economic well-being. These activities can include production, consumption, distribution, and exchange of goods and services. Economic action can also involve the use of resources and the exchange of money, as well as the management of capital and investments. Economic action is an important factor in the development, growth, and stability of economies around the world. It is also essential in providing incentives for businesses to produce and invest, and in creating jobs and opportunities for citizens. Economic action can also include public policy decisions made by governments to shape the economic environment. Examples of such policies include taxation, trade agreements, and regulation.
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dividends paid to corporate stockholders have already been taxed once as corporate income. TRUE OR FALSE
TRUE. Dividends given to shareholders of businesses have previously been subject to one corporate income tax.
What function do shareholders serve?As part of their ownership of a business, stockholders are entitled to a number of privileges, including voting rights over who sits on the board of directors, dividend payments, and even a claim to a piece of any remaining assets in the event of a corporate liquidation.
Can everyone own shares of stock?A shareholder or shareholder of a company is somebody who has shares of that company. A shareholder may be an individual, a group, or another business. Shareholders are an industry's real owners.. The shareholders gain from an increase in the value of their shares if the company does well.
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what is the future value of a 7%, 6-year ordinary annuity that pays $300 each year? if this were an annuity due, what would its future value be?
Its future value be Payment equals $300 annually
Interest rate (r) is equal to 7%, or 0.07 per annum.
Time (t) equals 5 years.
If it is an ordinary annuity, what is the Future Value (FV)?
Future Value (FV) if an annuity is due is equal to?
If an ordinary annuity, future value (FV) is as follows:
The end of the year or other period is when cash flow happens.
FV = C * [(1+r) t - 1)] / r
FV = 300 * [(1+0.07) 5 – 1)] / 0.07
FV = 300 * [(1.07) 5 – 1)] / 0.07
FV = 300 * [1.4025517307 – 1] / 0.07
FV = 300 * [0.4025517307] / 0.07
FV = 300 * 5.75073901
$1725.22 is the FV Ordinary Annuity.
If an annuity is due, Future Value (FV):
The following table shows the link between Present Value Ordinary Annuity, Future Value Ordinary Annuity, and Present Value Annuity Due:
Ordinary Annuity (PV or FV) * (1+r) = Annuity Due (FV or PV).
FV Ordinary Annuity * (1+r) = FV Annuity Due
$1725.22 * (1+0.07) is the FV Annuity Due.
Due FV Annuity: 1725.22 (1.07)
Due FV Annuity: $1845.98
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if i consolidate my student loans can they still be forgiven
You may be able to access forgiveness alternatives, such as income-driven repayment or public service debt forgiveness, if you combine loans other than Direct Loans.
How to consolidate Student loan ?You may be able to access forgiveness alternatives, such as income-driven repayment or public service debt forgiveness, if you combine loans other than Direct Loans (PSLF). Any variable-rate loans you have can be converted to fixed-rate loans if you combine.
You can lose borrower perks connected with your present loans, such as interest rate reductions, principal refunds, or some benefits of loan cancellation, if you consolidate. You can lose credit for payments made toward an income-driven repayment plan forgiveness, or PSLF, if you consolidate your present debt.
Consolidation may also purpose you to lose borrower blessings including hobby charge discounts, major rebates, or a few mortgage cancellation blessings related to your contemporary loans. You can consolidate a consolidation mortgage most effective once. In order to reconsolidate an current consolidation mortgage, you should upload loans that had been now no longer formerly consolidated to the consolidation mortgage. You also can consolidate consolidation loans together. But you cannot consolidate a unmarried consolidation mortgage through itself.
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Transaction costs You would like to purchase one Class A share of Berkshire Hathaway through your Scottrade brokerage account. Scottrade charges a $7 commission for online trades. You log into your account, check the real-time quotes for Berkshire Hathaway (you see a bid price of $262 comma 875 and an ask price of $263 comma 790) and submit your order. A. What is the current bid/ask spread for Berkshire Hathaway Class A shares? b. If Scottrade routes your buy order to the NYSE, where Berkshire Hathaway is listed, what's the potential minimum your total transaction costs will be? c. If, instead, Scottrade routes your buy order to NASDAQ, where Berkshire Hathaway is not listed, what's the potential maximum your total transaction costs will be? d. Regardless of how your trade is executed, based on the bid/ask spread, what is the market value of your trade?
A genuine cost of trading stocks is always represented by the bid-ask spread and higher prices than are paid to sellers.
What does the difference between the asking and bid bond prices signify?
The cost of the transaction is the spread. The market maker buys at the bid price and sells at the ask price as opposed to price takers, who purchase at the ask price and sell at the bid price. For an asset, the ask indicates supply while the bid reflects demand. The bid-ask spread is the metric of choice for measuring market liquidity.
What is the reason for the bid-ask spread?
The majority of inexpensive securities are brand-new or modest in size. As a result, there are only a certain amount of these assets that may be exchanged, which reduces their liquidity. In the end, the bid-ask spread narrows.
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is the largest component of gdp in the united states.
The major portion of the GDP is consumption. The greatest and most consistent part of consumption in the US is services. Durable & non-durable goods & service costs are added together to determine.
What is food consumed by humans?Human consumption refers to the act of ingesting food, liquids, or other substances into the body, usually through the mouth; it excludes inhaling.
Which of the four consumption kinds are they?Convenience, shopping, specialized, and unsought consumer items are among the primary categories: Convenience: These products are widely used and accessible.
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Carefully specified objectives should have all of the following characteristics EXCEPT _______.
a. to provide motivation to employees b. to guide marketing strategies and tactics for the organization c. to have unspecified end dates d. to be consistent with the firm's mission statement
Carefully specified objectives should have all of the following characteristics EXCEPT to have unspecified end dates
Correct option is: c
What is specified objectives?Determine how the workplace influences performance, for instance, may be your general purpose. The exact goals you may have in this situation are "Determine whether sunshine helps performance" and "Measure how performance varies as work environment changes."
Instead of focusing on the performance of the trainer or the expected results of the instructional method on the job site, specific learning objectives characterize performance in terms of knowledge, attitudes, competence, ambition, and conduct.
Thus, correct option: c
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Changes in the____or____system in the u.s. has an effect on business.
Business is impacted by modifications to the American political or economic structure.
What elements affect how business is done in the U. S.?Administrative, marketing, and finance are the primary corporate activities. The economy, competitiveness, technology, ethical and social issues, legal and regulatory pressures, and other variables all have an impact on how business is conducted.
What impact does the US have on the global economy?American customers are crucial because the country's economy makes up or more 30% of the global economy. The main market in the planet is America. Even Chinese businesses intend to expand their economies through sales to American customers.
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everyone benefits from street lighting, yet the marginal benefit to any one individual usually falls short of the marginal cost. this is an example of: group of answer choices one party preventing mutually beneficial trades in an attempt to capture a greater share of resources for itself. individual actions whose side effects are not properly taken into account by the market. the unsuitability of some goods for efficient management by markets. regulating self-interest.
Everyone benefits from street lighting, yet the marginal benefit to any one individual usually falls short of the marginal cost. this is an example of the unsuitability of some goods for efficient management by markets.
Option D is correct.
What is a marginal advantage?The maximum amount a customer is willing to pay for an additional product or service is known as marginal benefits. A customer's increased level of contentment after purchasing an additional product or service is also a marginal benefit.
What is the difference between marginal utility and marginal benefit?Typically, as consumption rises, the marginal benefit decreases. The increased happiness or contentment that an actor experiences as a result of consuming an additional unit of a particular good is referred to as marginal utility. The maximum price an actor is willing to pay for an additional unit of a good is referred to as the marginal benefit.
Question is incomplete:
Everyone benefits from street lighting, yet the marginal benefit to any one individual usually falls short of the marginal cost. This is an example of:
a. individual actions whose side effects are not properly taken into account by the market.
b. one party preventing mutually beneficial trades in an attempt to capture a greater share of resources for itself.
c. regulating self-interest.
d. the unsuitability of some goods for efficient management by markets.
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job a3b was ordered by a customer on september 25. during the month of september, jaycee corporation used $1,800 of direct materials and used $3,300 of direct labor. the job was not finished in september. an additional $2,300 of direct materials and $5,800 of direct labor were needed to finish the job in october. the company applies overhead at the end of each month at a rate of 200% of the direct labor cost incurred. what is the total cost of the job when it is completed in october?
When completed in October, the total cost of the job will be $11,700.
What is the total cost?Total cost denotes the total cost of production, which includes both fixed and variable costs. In economics, the total cost is defined as the cost of producing a product.The computation of the work in process balance at the end of the month is shown below:
Total cost = Direct labor cost + direct material cost + manufacturing overhead cost as a percentage of direct labor cost
= $1,800 + $3,300 + $3,300 × 200%
= $1,800 + $3,300 + $6,600
= $11,700
We simply added the direct material cost, direct labor cost, and manufacturing overhead cost to arrive at the final balance.
Therefore the total cost of the job that is completed in October is $11,700.
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B) The remaining amount for the ongoing work is $11,700. Since WIP could eventually become finished goods and sales opportunities, it is recorded as an asset in the financial statement.
What does "work in process" mean?Work in progress (WIP), also known as work in process, is inventory that has started the manufacturing process but is not yet a finished product. It is no longer included in the inventory of raw materials. Work in progress is viewed as an asset on a balance sheet since funds have been used to produce a finished good.
What is an example of work in process?Work in process typically refers to produced goods that quickly transition from raw materials to completed goods. An example of a work in progress is a bakery that is currently producing 50 batches of bread. Work in progress, on the other hand, may relate to elaborate works that take a while to finish.
Manufacturing expenses equal 200% of direct labor.
Cost of goods produced = $3,300 * 2
Manufacturing Work in progress = 6600.
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Full Question = Job A3B was ordered by a customer on September 25. During the month of September, Jaycee Corporation requisitioned $1,800 of direct materials and used $3,300 of direct labor. The job was not finished by the end of the month but needed an additional $2,300 of direct materials and additional direct labor of $5,100 to finish the job in October. The company applies overhead at the end of each month at a rate of 200% of the direct labor cost incurred.
What is the balance in the Work in Process account at the end of September relative to Job A3B?
a. $7,400
b. $11,700
c. $4,100
d. $8,400
e. $5,100