Answer:
less;
A person smoking in a restaurant emits second-hand smoke that harms other restaurant patrons. b. Externality
A single grocery store is the only source of food in a small town, giving the store the ability to influence the price of food. a. Market power
Explanation:
Property rights are usually imposed on individuals who are able to control the resources which are of public value. When the society gets affected by the practices of those individuals or entities, property rights made by a government or regulatory body come into the picture. Therefore, those individuals need to be regulated and incentivized by property rights, or they will be less likely to conform to the market needs.
These rights protect the market from market failures, which is their main purpose.
The most common types of market failures include externalities and market power. The first example is an externality as the unwanted smoke represents the cost (or benefit) which cannot be influenced by a specific party.
The other example is typical market power, as the monopolist (grocery store) can control the price of goods, which is an essential market determinant.
The person smoking in a restaurant causing harm to others through second-hand smoke exemplifies an 'externality' as other individuals, not involved in the action, are affected. The case of a single grocery store being the only food source in a town and thus being able to influence the price of food is an example of 'market power', where a single entity determines the price or quantity of a commodity.
Explanation:In context of economic theory, the given scenarios classify two distinct forms of market failures: externality and market power.
The first scenario, where a person smoking in a restaurant creates second-hand smoke affecting other patrons, is an example of an externality. Externalities are costs or benefits that affect a third party not directly involved in the transaction. Here, the third parties (other restaurant patrons) are negatively affected by the smoker's actions, thus creating a negative externality.
In the second case, a single grocery store monopolizing food supply in a small town, indicates market power. Market power refers to the ability of a firm to control the market price or quantity of a good or service. In this scenario, the single grocery store has the power to influence the price of food, a characteristic of market power.
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A corporation had the following assets and liabilities at the beginning and end of this year.Assets LiabilitiesBeginningofd'ieyear......... $60,000 $20,000Endoftheyear............. I05,000 36,000Determine the net income earned or net loss incurred by the business during the year for each of the following separatecases:a. Owner made no investments in the business and no dividends were paid during the year.b. Owner made no investments in the business but dividends were $1,250 cash per month.c. No dividends were paid during the year but the owner did invest an additional $55,000 cash iex-change for common stoclcd. Dividends were $1,250 cash per month and the owner invested an additional $35,000 cash in ex-change for commonstoclc
Answer:
Explanation:
The computation of the net income earned or net loss incurred by the business during the year is shown below:
Particulars a b c d
Opening Balance of Equity $40,000 $40,000 $40,000 $40,000
Owner investments $55,000 $35,000
Less: Dividends -$15,000 -$15,000
Net income(loss) $29,000 $44,000 -$26,000 $9,000
Ending balance of equity $69,000 $69,000 $69,000 $69,000
The opening and ending balance of equity has come by considering
= Total assets - Total liabilities
Suppose the growth of production in Country A follows Harrod-Domar Model. Country A has 100 people(labors) in Year 1. The capital K in Year 1 is 60. The incremental capital-output ratio v = 5 and the constant savings rate s = 0.1. There is no depreciation in capital. What is the growth rate of aggregate productions in Year 1?
Answer:
2%
Explanation:
Given that,
Number of people in year 1 = 100 labors
Capital K in year 1 = 60
According to Harrod-Domar model,
Growth rate in total output:
= savings rate ÷ capital output ratio
So, g = s ÷ v
g = 0.1 ÷ 5
= 0.02 or 2%
Thus, growth rate of aggregate productions (or total output) in year 1 is 2%.
The penalty for a substantial understatement is triggered when ____
A. The taxpayer understates their tax by the larger if $5,000 or 10% of the correct tax,
B. The taxpayer shows negligence or disregard of the rules of regulations, causing an underpayment,
C. The taxpayer fails to pay the tax owed by the due date,
D. The taxpayer fails to file the return by the due date, including extentions, and there is a balance due.
Answer:
The correct answer is A
Explanation:
A substantial understatement may occur when tax return is understated by an amount greater than 10% of the tax required to be shown on the tax return.
Example: If a tax payer that is suppose to report a $6000 tax due and choose to report a $2000 instead, to know if a penalty will be charged or not it has to be greater than 10% of the amount which is suppose to be reported (i.e $6000 x 10% = 600) . therefore in the case shown above the penalty will be applied
Pentrall Bros. is a seller of used automobiles. A research study conducted by the company indicates that customers are not willing to pay more than 70 percent of the market price of a new car for a used car. In light of this, the company makes sure that the prices of used cars are not set higher than 70 percent of the market value. In this scenario, Pentrall Bros. is trying to avoid _____.
Answer:
The endowment effect
Explanation:
According to the endowment effect, people are emotionally biased and tend to over value what they already own and undervalue what they haven't purchased.
They form some kind of attachment to what belongs to them and attach extra value to the item, due to the fear of losing it.
For example a person may prefer to continue using an old car rather than pay a certain amount to buy another used car.
Pentrall Bros, is trying to avoid the endowment effect by ensuring the prices of its used cars, are not higher than the prices at which customer's value them.
When your manager, Novak, talks about a , he means a set of interrelated parts that function as a whole to achieve a common purpose. ?
Answer:
A System
Explanation:
Novak is referring to a system. A system is a complex union of several interrelated parts that have different specific functions, but share a common goal, and a more or less common mechanism.
Society is a system, a computer as well. Firms are systems, they have different parts: employees, stockholders and management that have specific functions but work together toward a common goal: generating revenue.
Days sales outstanding. Baxley Brothers has a DSO of 23 days, and its annual sales are $3,650,000. What is its accounts receivable balance? Assume that it uses a 365 day year.
Answer:
$230,000
Explanation:
Given that,
Days sales outstanding, DSO = 23 days
Annual sales = $3,650,000
Assume that it uses a 365 day year
Accounts receivable = (Annual sales × Days sales outstanding) ÷ 365 days
= ($3,650,000 × 23) ÷ 365 days
= $83,950,000 ÷ 365 days
= $230,000
Therefore, the Baxley Brothers has $230,000 balance in its accounts receivable.
Final answer:
Given a DSO of 23 days and annual sales of $3,650,000, the accounts receivable balance for Baxley Brothers can be calculated to be $230,000.
Explanation:
To calculate the accounts receivable balance for Baxley Brothers given a Days Sales Outstanding (DSO) of 23 days and annual sales of $3,650,000, we use the formula for DSO:
DSO = (Accounts Receivable / Total Credit Sales) × Number of Days
We can rearrange this formula to solve for Accounts Receivable:
Accounts Receivable = (DSO × Total Credit Sales) / Number of Days
Assuming a 365-day year, the calculation will be:
Accounts Receivable = (23 days × $3,650,000) / 365 days
Accounts Receivable = $230,000
Therefore, the accounts receivable balance for Baxley Brothers is $230,000.
You are thinking about starting a new organization to design and deliver fashionable touchscreen accessories. But you want your company to be maximally creative. Which of the following organizational principles would help to make your company more innovative? Check all that apply.
a. Specialists: make sure that all problems are handled by people who have a great expertise in that area
b. Freedom: the ability to choose which problems to work on and how to address them
c. Decentralization: letting everyone control their own work and having few layers of management
d. Contact with outsiders: employees regularly meet with people who are not part of the organization
Answer: B, C, D
Explanation:
just took the test
Assume the following information pertaining to Moonbeam Company:
Beginning Finished Goods Inventory = $130,000
Ending Finished Goods Inventory = $124,000
Beginning WIP Inventory = $85,000
Ending WIP Inventory = $104,000
Beginning Direct Materials = $117,000
Ending Direct Materials = $130,000
Costs incurred during the period are as follows:
Total Manufacturing Costs = $896,000
Factory Overhead = $199,000
Direct Materials Used = $156.000
Materials purchases are calculated to be:
a) $143,000.
b) $156,000.
c) $91,000.
d) $169,000.
e) $140,000.
Answer:
d. Material Purchases = $ 169,000
Explanation:
Cost Of Goods Statement.
Beginning Direct Materials = $117,000
Add Material Purchases = $ 169,000
Less Ending Direct Materials = $130,000
Direct Materials Used = $156,000 ( given)
Direct Labor= $ 697,000
Factory Overhead = $199,000
Total Manufacturing Costs = $896,000
Beginning WIP Inventory = $85,000
Ending WIP Inventory = $104,000
Cost of Goods Manufactured= $ 1033,000
Beginning Finished Goods Inventory = $130,000
Ending Finished Goods Inventory = $124,000
Cost Of Goods Statement = $ 1039,000
Materials purchases for Moonbeam Company are calculated using the formula: Ending Direct Materials + Direct Materials Used - Beginning Direct Materials, yielding a total of $169,000. The correct answer is d.
Explanation:The student has asked for assistance with calculating materials purchases for Moonbeam Company given a set of financial inventory information and costs incurred during a period. To derive the materials purchases, we need to use the following formula:
Materials Purchased = Ending Direct Materials + Direct Materials Used - Beginning Direct Materials
Now, plugging in the given values:
Materials Purchased = $130,000 + $156,000 - $117,000
Therefore, the materials purchased are calculated to be $169,000, which corresponds to option (d).
In general, trademark protection prevents another firm from using the same or a similar name, logo, or other identifying characteristics in a way that would cause confusion in the minds of potential buyers.
True or false?
Answer:
True
Explanation:
Firms and organisations need to register their companies as this helps them to avoid any problem related to the company's name and trademark in the future. Furthermore, trademark protection prevents another firm to copy another firms name, logo or tagline which can create confusion in the minds of potential buyers. Trademark protection costs a very minimal amount but protects a company's name.
The theory based on the idea that the best managerial actions in a given situation depend on the elements of that situation is known as:
A. the equifinality theory.
B. Theory X and Y.
C. the contingency approach.
D. the systems theory.
E. quantitative management.
Answer:
C. the contingency approach
Explanation:
The contingency approach -
According to this concept , there is not proper and precise set of rules and regulations for the management principles of the organisation , is referred to as the contingency approach.
It is also called , situational approach.
As, the condition or the situation only plays a significant role , because the management changes according to the situation of the scenario.
Hence , from the information of the question,
The correct option is C. the contingency approach .
Suppose the cost of pumping oil increases. How will this affect the demand for oil and gasoline (which comes from oil)? a. Demand will increase. b. Demand will decrease. c. Demand will not necessarily change.
Answer:
Option (c) is correct.
Explanation:
If there is an increase in the cost of pumping oil, this means that the cost of production of oil increases. Hence, this will cause the supply curve of oil which shifts leftwards and leave the demand curve unchanged. This will only cause a movement along the demand curve not a shift which means that there is a fall in the quantity demanded.
Therefore, the demand for oil and gasoline will not necessarily change.
What song lyric from the Rolling Stones expresses a powerful economic idea?
Answer:
The correct answer is: "You can't always get what you want".
Explanation:
British well-known rock band "The Rolling Stones" was formed in 1962. Along their hits, we can identify "Paint it black", "Give me shelter", "Wild Horses", "Waiting on a friend" or "You can't always get what you want" (released in 1996) which is a song encouraging people to fight for what they want to achieve even if not all the time what is desired can be obtained.
Final answer:
The Rolling Stones' song 'You Can't Always Get What You Want' and the song 'Brother, Can You Spare a Dime?' both reflect powerful economic ideas, with the former speaking to the concept of scarcity and the latter illustrating the economic troubles during the Great Depression.
Explanation:
The Rolling Stones' song lyric that expresses a powerful economic idea is from their track 'You Can't Always Get What You Want'. This lyric reflects an economic concept that resources are limited and thus individuals cannot always obtain everything they desire. This mirrors the sentiments expressed by English economist Lionel Robbins in his Essay on the Nature and Significance of Economic Science in 1932. Robbins highlighted the fundamental problem of scarcity in economics, where unlimited wants clash with limited resources, hence not everyone can get what they want.
Which of the following is NOT one of Peter Drucker’s contributions to management theory?a. The analysis of how organizations select managers, how managers act, and how organizations are structured in different units. b. The understanding of the role large organizations play in modern society. c. The focus on the role of human interactions, flows of information, and the decision-making process within organizations. d. The analysis of how social organizations become corporations.
Answer:
The incorrect statement is letter "D": The analysis of how social organizations become corporations.
Explanation:
Peter F. Drucker (1909-2005) was an Austrian business professor and statistic who developed concepts on Decentralization as the principle of effectiveness and productivity, the emphasis on high-quality personnel management, and the education, training, and development of the manager for future needs.
An analysis in how social organizations become corporations is not attributed to Drucker.
Final answer:
Option d, the analysis of how social organizations become corporations, is NOT one of Peter Drucker’s contributions to management theory; his focus was on managerial practices and the role of large organizations.
Explanation:
The question pertains to Peter Drucker’s contributions to management theory. Among the options provided, the choice that is NOT one of Drucker’s contributions is d. The analysis of how social organizations become corporations. Drucker’s work primarily focused on the practices within management such as how managers act in an organisation.
It also looks into the structure of organizations, and the role of large organizations in society. He did not specifically analyze the process of social organizations turning into corporations, which is more in the domain of organizational development and corporate strategy.
A sales representative sees the report and sends Mike a letter praising him on his ability to connect to vendors. He asks Jim, Mike's supervisor, if he could "borrow" Mike for several weeks for brainstorming sessions and vendor meetings in the Marketing department. He feels some fresh blood and a new perspective may help them solve some of TriState's vendor issues. What should Jim do?
Answer and explanation:
Mike represents a valuable employee for the company he works for. If he leaves his position for several weeks in the attempt to help the sales representative Marketing Department company, that could imply potential losses in Mike's organization. Thus, Jim should inform the sales representative that Mike cannot leave work for several weeks because it is too long but he could ask if there could be another way Mike can help without affecting Jim and Mike's company interests.
The increased financial return on staffing investment is an example of a process goalA. TrueB. False
Answer: True.
Explanation:
Process goals are conscious steps taken to achieve a desirable outcome for an organization. The process goal is also focused on the process used to get to the goal and not just the desired outcome alone. Therefore if an increased investment in staffing yields an increased financial return, it is an example of process goal.
Carl and Karina file a joint return. Karina earned a salary of $38,000 and received dividends of $3,000, taxable interest income of $2,000, and nontaxable interest of $1,000. Carl received $9,000 of social security benefits and a gift of $6,000 from his brother. What amount of social security benefits is taxable to Carl and Karina?
Answer:
The amount of social security benefits is taxable to Carl and Karina is $7650.
Explanation:
For joint filing return combined income of $32,000 to $44,000 you will pay 50% of your social security income and if you have combined income more than $44,000 you can expect to pay taxes up to 85% of your social security amount.
Social security amount that is taxable = $9,000*85/100
= $7650
Therefore, The amount of social security benefits is taxable to Carl and Karina is $7650.
Topic: Performance Management When it comes to performance management and measurement, it is said that "you get what you measure" or "you get what you set." When studying issues in this area, it is very useful to see cases where management motivated the unintended behavior from employees. For this Discussion, research and summarize an article that discusses a situation in which the performance management and measurement systems put into place either failed to promote the desired behavior, or outright backfired. Include the following details: Brief description of the situation. The desired outcome. The actual outcome. Reasons why the effort failed.
Answer:
Performance management and measure is a tricky tool. It's success and failure depends upon few factors
1) Company's Culture
2) Training programs for employees related to performance management tool.
What actually makes performance management fail is to ignore company's culture while implementing performance management system. If your system is traditional in vibrant or democratic cultured company then it may fail and vise versa. We call it need assessment, in this process HR assess the need and factors that affect the performance system and then suggest and implement appropriate system that is aligned with the company's culture.
Second factor is training for employees, if management implements a system or tool for performance measure and failed to train their employees on that system and measure then it will fail.
For performance management system to work, management may needs to change their policies too.
Actual situation:
Well, i have been working in HR department for 6 years now. We implemented 360 degree system in which not only manager but peer, subordinate and client also evaluate the employee's performance. We also did training sessions for employees to better cope up with the new system.
Desired Outcome:
Real picture of an employee performance.
Actual Outcome:
Fake picture of employees performance and buttering culture.
Reason for failure:
We failed to incorporate the culture of the organization. We didn't made any effort to understand and transform the culture according to the evaluation system that we are going to use. That actually creates the problem. Employees started to evaluate their peers and managers good, only because in return they will be graded good. So, it creates a buttering culture in the company. Which was far from actual measure of performance for an employee.
Solution:
To solve this problem, we actually transformed company's culture by valuing the truth and changing company's policy.
Final answer:
In a business scenario, focusing solely on sales targets can lead to unintended consequences such as neglecting customer service and long-term client relationships.
Explanation:
Brief description of the situation: In a business setting, a situation arose where employees were incentivized solely based on achieving sales targets.
The desired outcome: The desired outcome was to increase sales performance and revenue for the company.
The actual outcome: However, the unintended consequence was that employees focused solely on making sales, neglecting customer service and long-term client relationships.
Reasons why the effort failed: The effort failed because the measurement system did not consider other important factors beyond sales, leading to a decline in overall customer satisfaction and potential long-term business growth.
A responsibility report provided to a manager typically includes: A) A list of all the items under the manager's control B) The differences between the budgeted and actual amounts for each item on the report C) The budgeted amount for each item on the report 12)- D) All of these are coIrect answers
Answer:
The correct answer is letter "D": All of these are correct answers.
Explanation:
Responsibility reports are pools of information comparing the expected duties of different departments compared to what was budgeted at the beginning of the period of the operations of the company. Also, it ratifies what the duties of the managers are on behalf of those departments' performance. The information of responsibility reports may vary according to the manager that the report is directed to: the higher the rank, the complex the report will be.
What are long-term decisions that set the direction for the entire organization called?a. Tactical b. Operational c. Directional d. Distant e. Strategic
Answer:
The correct answer is letter "E": Strategic.
Explanation:
Strategic decisions imply analyzing what direction is the overall company going to take in the long run. It represents the groups of decisions high-rank executives must take to conduct the operations of the firm, the resources that will be used and how they will combine those factors to reach the organization's objectives.
Long-term decisions that set the organization's direction are known as strategic decisions, focusing on its long-term goals and broad changes.
Explanation:Long-term decisions that set the direction for the entire organization are called strategic decisions. These decisions have a significant impact on the company's future and typically involve changing various aspects of operations. Unlike tactical or operational decisions, which are more short-term and focus on the day-to-day or technical aspects of a company's function, strategic decisions are designed for the long haul and are foundational in nature. They guide the company towards its long-term goals and objectives, requiring careful planning and consideration of broader outcome scenarios.
Suppose a flood changes the production capacity in a country. How would you represent this situation with a production possibilities frontier?
Explanation:
The flood will lead to the destruction of the resources in the country.This will result in the shifting of the PPC curve leftward in the economy.
Earlier PPC is represented by PP curve.After the floods and destruction of resources,the curve shifts to P1P1.It is due to the availability of the number of possible combinations which decreases with the destruction of resources.
Tiger Trade has the following cash transactions for the period.
Accounts Amounts
Cash received from sale of products to customers $ 36,500
Cash received from the bank for long-term loan 41,500
Cash paid to purchase factory equipment (46,500 )
Cash paid to merchandise suppliers (11,300 )
Cash received from the sale of an unused warehouse 12,300
Cash paid to workers (23,300 )
Cash paid for advertisement (3,300 )
Cash received for sale of services to customers 26,500
Cash paid for dividends to stockholders (5,300 )
Assume the balance of cash at the beginning of the period is $4,300.
Required:
1. Calculate the ending balance of cash.
2. Prepare a statement of cash flows.
Answer:
1. Ending balance of cash is $31400
Explanation:
1.
Balance of cash at the beginning of the period is $4,300
+Cash received from sale of products to customers $ 36,500
+Cash received from the bank for long-term loan 41,500
-Cash paid to purchase factory equipment (46,500 )
-Cash paid to merchandise suppliers (11,300 )
+Cash received from the sale of an unused warehouse 12,300
-Cash paid to workers (23,300 )
-Cash paid for advertisement (3,300 )
+Cash received for sale of services to customers 26,500
-Cash paid for dividends to stockholders (5,300 )
Balance of cash at the beginning of the period is $31,400
2.
Cash Flow Statement
Cash flow from Operating Activities
Cash received from sale of products to customers $ 36,500
Cash received for sale of services to customers 26,500
Cash paid to merchandise suppliers (11,300 )
Cash paid to workers (23,300 )
Cash paid for advertisement (3,300 )
Total Cash Inflow / outflow from Operating Activity 25,100
Cash flow from Investing Activities
Cash paid to purchase factory equipment (46,500 )
Cash received from the sale of an unused warehouse 12,300
Cash paid for dividends to stockholders (5,300 )
Total Cash Inflow / outflow from Investing Activity (39,500 )
Cash flow from Financing Activities
Cash received from the bank for long-term loan 41,500
Total Cash Inflow / outflow from Financing Activity 41,500
Net cash Inflow / Outflow 27,100
Balance of cash at the beginning of the period is 4,300
Balance of cash at the beginning of the period is 31,400
To calculate the ending balance of cash, add the inflows and subtract the outflows. The ending balance of cash is $900. To prepare a statement of cash flows, categorize the cash transactions into operating, investing, and financing activities.
Explanation:To calculate the ending balance of cash, we need to calculate the total cash inflows and subtract the total cash outflows. Starting with the beginning balance of cash ($4,300), we add the cash received from sales of products ($36,500), cash received from the bank for a long-term loan ($41,500), and cash received from the sale of an unused warehouse ($12,300). Next, we subtract the cash paid to purchase factory equipment ($46,500), cash paid to merchandise suppliers ($11,300), cash paid to workers ($23,300), cash paid for advertisement ($3,300), and cash paid for dividends to stockholders ($5,300).
Adding the inflows and subtracting the outflows, we can calculate the ending balance of cash. The cash inflows total $90,600 ($36,500 + $41,500 + $12,300) and the cash outflows total $89,700 ($46,500 + $11,300 + $23,300 + $3,300 + $5,300). Subtracting the outflows from the inflows, the ending balance of cash is $900 ($90,600 - $89,700).
To prepare a statement of cash flows, we categorize the cash transactions into operating activities, investing activities, and financing activities. The operating activities include cash received from the sale of products and services to customers, cash paid to suppliers, and cash paid to workers. The investing activities include the cash received from the sale of the unused warehouse and the cash paid to purchase factory equipment. The financing activities include the cash received from the bank for a long-term loan and the cash paid for dividends to stockholders.
According to generally accepted accounting principles (GAAP), revenue is recognized as income when:
a contract is signed to perform a service or deliver a good.
managers decide to recognize it.
payment is requested.
income taxes are paid on the revenue earned.
the transaction is complete and the goods or services are delivered.
Answer:
the transaction is complete and the goods or services are delivered.
Explanation:
According to generally accepted accounting principles (GAAP), the revenue should be recognized when the goods or services are delivered and the transaction is completed in all respects.
The revenue recognition principle applies when the revenue is realized or earned whether cash is received or not plus it also follows the accrual basis of accounting. Here, realizable means that customer received the product but the payment is made at the later date
Revenue is recognized as income under GAAP when a transaction is complete and goods or services have been delivered.
Explanation:According to the generally accepted accounting principles (GAAP), revenue is recognized as income only when the entire transaction is complete and the goods or services have been fully delivered to the customer. This is often referred to as the revenue recognition principle, which is a cornerstone of accrual accounting. It's important for companies to follow this principle in order to accurately represent the company's financial health in its financial statements. For instance, if a company agrees to deliver 100 items to a customer and it has only delivered 50, it can't recognize the entire contracted revenue yet, only the portion related to the 50 delivered items.
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West Company paid cash for dividend. With respect to this event, indicate whether the following statement is______________.
a. true
b. false.
Answer:
True
Explanation:
A public limited company can pay cash dividends to its shareholders for their contribution to the company. Therefore, the statement "West Company paid cash for dividend" is correct.
No other form of organization cannot pay dividends. They can pay a share of profit or extra benefits. Only in the corporation, especially in public limited, shareholders are given a cash dividend by its management body.
Nina McRidder became an embarrassment to her company when she joked about the ruling monarchy in England in front of a group of visiting English businesspeople. She should have known that political ridicule by a foreigner is rarely accepted. Ms. McRidder has violated what is known as a cultural
A) intelligence.
B) standard.
C) exclusive.
D) elective.
E) imperative.
Answer:
Option E
Explanation:
Cultural imperatives refer to the customs to which you must adhere if you wish to succeed. Relationship management is one instance of a social imperative. Business understands the meaning of establishing a relationship in several Asian countries like china and Japan as well as the Latin American countries.
Individuals living inside the borders of societies identified with very different ethnicity frequently permeate vastly different moral principles via generative identity processes. These cultural norms (e.g. Confucian) predominant within one society may not have any real equivalent in some other (e.g. Islamic) community.
Nina McRidder violated a cultural imperative by joking about the monarchy, showing a lack of understanding of the cultural importance of respecting foreign dignitaries in a professional setting.
Explanation:Nina McRidder has violated what is commonly referred to as a cultural imperative. A cultural imperative refers to standard practices or rules of behavior that are considered essential in specific cultural or social contexts.
Making jokes about a monarch in front of a visiting group from a country which is still influenced by monarchy demonstrates a lack of understanding of this cultural imperative, especially since in many cultures, political ridicule by foreigners may be viewed as disrespect rather than humor. Understanding and conforming to cultural imperatives is important in international business and social interactions to maintain respect and harmony.
Sumiko files her tax return married filing separately. She has not lived with her husband for over two years. Beginning in January 2019, by court ordered decree, she is to pay her husband $600 per month as separate maintenance. For 2019 how much will she be able to deduct as alimony?
a. $3,600.b. $7,200.c. $0.d. $600.
Answer:
b. 7,200
Explanation:
600 x 12 =7200
Assume that X-Men has an unadjusted Accounts Receivable balance of $10,000 and Allowance for Sales Discounts balance of $0. $1,000 of accounts receivable are within the 2% discount period and X-Men expects that buyers will take $20 in future-period discounts arising from this period's sales. The adjusting entry for sales discounts is:
Answer:
For X-Men, the Sales Discount should be recorded at the estimated discount amount that will be taken by the X-Men's customers, which is calculated as: $1,000 * 2% = $20.
The adjusting for sales discount X-Men should be recorded as followed:
Dr Sales Discount 20
Cr Allowance for Sales Discount 20
( to record the estimated sales discount taken)
in which, Sales Discount is a contra-revenue account which helps to record the Net Sales amount from the Gross Sales amount.
Explanation:
Answer: Debit sales discount and credit allowance for sales discounts for $20
Explanation: look at attached image
You have purchased one call option expiring in one year with a strike price of $40. The current price of the underlying is $30, the interest rate is zero, and the premium for the call option is $2.63.
(1) Draw the payoff and P&L diagrams for the call option at expiration.
(2) What is the P&L on the option at expiration if the underlying is $57.50 (i.e. S, = 57.5)?
Answer:
Explanation:
2)
Calculation of P&L
Underlying Price = $ 57.70
Underlying Price is more than exercise price (40) ⇒ the option is exercised.
Initial Cash Flow = - $ 2.63
Cash Flow at Expiration = $ 57.70 - $ 40 = $ 17.70
Prrofit = $ 17.7 - $ 2.63 = $ 15.07
Suppose Russia produces only trucks and cars. The resources that are used in the production of these two goods are not specialized—that is, the same set of resources is equally useful in producing both cars and trucks.The shape of Russia's production possibilities frontier (PPF) should reflect the fact that as Russia produces more cars and fewer trucks, the opportunity cost of producing each additional car _______________-
Answer:
Remains constant
Explanation:
Since the same set of resources are useful in producing both cars and trucks, it shows that resources are not specialized hence Russia has a straight line PPC. A straight line (linear) PPC connotes constant returns to scale. In this case, resources are mobile and can easily be reallocated and redirected from the production of one good to another thus, opportunity cost is constant and so is the marginal rate of transformation (MRT). The MRT is the number of units or amount of a good that must be foregone in order to attain one unit of another. If Russia decides to produce more cars and fewer trucks, the resources deployed in producing more cars would be well suited as the resources already used in car production. The opportunity cost in producing each additional unit of car remains constant as more cars are produced.
The slope of a linear PPC determines the marginal rate of transformation; that is, a flatter slope would mean producing more cars requires trading-off fewer trucks while a steeper slope would mean that producing more cars requires trading-off more trucks.
the opportunity cost of producing each additional car is remains constant.
The following information should be considered;
Since the company produced two goods. Also, the country resources should be equally useful for the production of two goods Due to this, the trade off between the two goods productions should be the same.Learn more: https://brainly.com/question/18269454?referrer=searchResults
Mr. Sizemore learns details about a large potential job Obtain information that is about to go out for bids.
Answer:
The best thing is to gather information and conduct predictions about the future.
Explanation:
If there is a significant amount of job going out for bids, it is advisable to conduct extensive research and market survey on the type and specifications of the job. This will enable the bidder the gather enough information about the job and also make necessary plans in form of predictions and other necessary arrangement for the future.
Suppose the government decided that homemakers should be counted as employed because they perform important services. How do you think this change would affect our measure of the labor force, the labor force participation rate, and the unemployment rate?
Answer:
The labor force and the labor force participation rate would increase and the unemployment rate would decrease.
Explanation:
The rate of unemployment is characterized as the share of the total workforce unemployed.Employment rates are characterized as the degree to which labor resources are available.Once the government decided to recognize homemakers as workers as they provide important facilities, the labor force and employment rate would rise and the rate of unemployment would fall.so, the above answer is correct.
Final answer:
If the government decided to count homemakers as employed, it would increase the labor force and the labor force participation rate, and decrease the unemployment rate.
Explanation:
If the government decided that homemakers should be counted as employed because they perform important services, it would have an impact on our measure of the labor force, the labor force participation rate, and the unemployment rate. The labor force refers to all nonmilitary people who are employed or unemployed. By counting homemakers as employed, the size of the labor force would increase as more individuals would be considered part of the working population.
The labor force participation rate is the percentage of the working-age population that is part of the labor force. Adding homemakers as employed would likely increase the labor force participation rate, as it would increase the denominator (total labor force), while the numerator may not see a proportionate increase. The unemployment rate is calculated by dividing the number of unemployed individuals by the labor force. If homemakers are categorized as employed, it would decrease the number of unemployed individuals, resulting in a lower unemployment rate.