Answer:
there is no cost both cost the same and you can make money working over the break although your boss would see you as a more responsible man cause you choose the service break instead
Explanation:
Choosing the cruise makes the service trip your opportunity cost, which is the value of the next best alternative not chosen. Opportunity cost can alter decision-making and behaviors once the true cost of choices is realized.
Explanation:When deciding between going on a cruise with friends or participating in an Alternative Spring Break service trip, if you choose the cruise, your opportunity cost is the value of the next best alternative you forego, which in this case is the service trip. Opportunity cost is a key concept in economics that refers to the benefit that you miss out on when choosing one alternative over another.
For example, if you perceive the service trip as the most valuable alternative to the cruise, then by choosing the cruise, the service trip becomes your opportunity cost. This principle emphasizes the cost of the road not taken, which can sometimes lead to altering decisions once you realize the true cost of your choices.
Understanding and calculating opportunity cost can provide a different perspective on the actual cost of our decisions. Just like spending extra money on lunch every day instead of saving it for a vacation, realizing the opportunity cost of actions can change behavior and lead to choices that better align with personal goals.
A business school’s faculty parking lot has assigned parking spaces. Each professor is entitled to one parking space. This is an example of a _____ relationship.
Answer and Explanation:
One-to-many Unary
Suppose your bank lowers its minimum balance requirement to get free checking by $500. So you take $500 out of your checking account and put it into your savings account. What is the overall effect on M1 and M2?
M1 falls by $500, M2 rises by $500.
M1 falls by $500, M2 is unchanged.
M1 is unchanged, M2 is unchanged.
M1 is unchanged, M2 rises by $500.
Answer:M1 is unchanged, M2 rises by $500.
Explanation:
Checking account is included in both M1 and M2 unlike savings account which only falls in M2 category. M2 category is less liquid which includes cerificates of deposit etc. M1 only includes money in your possession and public circulation.
Creative task performance involves employee responses to task demands that are novel, unusual, or, at the very least, unpredictable.True / False.
Answer:
False
Explanation:
Creative task performance represents the degree or extent to to which persons or employees come up with original, new and usual responses to task demands. That part of the question is true.
However, the false part is the unpredictability aspect because adaptive task performance is the type of performance which is also unusual, new and original but is at the very least unpredictable.
The question therefore combined the features of both creative and adaptive task performances. Therefore, the answer is false
Frank, a marketing manager, has often noticed that his team members do not communicate with each other and are rarely present for team meetings. He also noticed that his team's productivity is considerably low. This scenario illustrates that Frank's team lacks _____.
Answer:
Cohesiveness
Explanation:
The measure of the level of unity in a group or team is called cohesiveness. It is a measure of how communicative the members of a team are. It describes the linking bond among them that makes them act as a team.
Cohesiveness is important because it also affect the extent to which members of a team are committed to working with centrally defined strategies and decisions. A cohesive team is a team that with increased morale and it also helps to boost productivity.
The feeling of being part of something big helps highly cohesive teams to achieve great job performance.
The lack of cohesiveness in Frank's team is evident in the low level of communication as well as the low level of productivity.
Financial literacy refers to:
a) How well you manage the financial stressors in your life.
b) How well you understand and use personal finance information.
c) How well you score on standardized measures of personal finance.
d) Your maximum score on a comprehensive consumer finance test.
Answer:
b) How well you understand and use personal finance information
Explanation:
Financial literacy involves understanding and using financial information. When applied, a person is in a position to understand their financial situation and possess the ability to make well informed decisions on matters relating to money. A financially literate person understands how much money comes in and how much goes out and for what purposes. All aspects of their financial wellbeing are intentional.
In order to avoid project delays, project managers confronted with a resource overload will seek to delay some of the noncritical activities by an amount no more than their slack period, to level the demand for that worker.
a. True
b. False
Answer: True
Explanation:
When a project manager is confronted with resource overload, an activity that is not on the critical path can be delayed in order not to unnecessarily delay the project. The non-critcal activities can be delayed than an amount no longer than the slack period. This levels demand for that worker.
Ruth keeps account of her family's expenses. She keeps track of the entire family's needs and discusses with other family members about what products need to be bought. She realizes that the family requires a bigger refrigerator and discusses this with her parents. She collects information about refrigerators from various brands so that her parents can make an informed decision.a. innovator
b. influencer
c. gatekeeper
d. purchaser
Answer:
Ruth keeps account of her family's expenses. She keeps track of the entire family's needs and discusses with other family members about what products need to be bought. She realizes that the family requires a bigger refrigerator and discusses this with her parents. She collects information about refrigerators from various brands so that her parents can make an informed decision.
Purchaser
Explanation:
Her parents does the purchase so she needs to inform them about the latest to be bought.
Jim is able to sell a hand-carved statue for $670 which was a 35% profit over his cost. How much did the statue originally cost him? The sales price of a car is $12,590, whic
Answer:
The cost price of the statue is $ 496
Explanation:
Sale Price of statue = $ 670
Suppose the cost price is $ 100 then according to the given condition the sales price would be $ 135
Sale Price = Cost Price + Profit
135= 100 +35
Applying ratios
Sale Price Cost Price
$670 x
135 100
Using cross product rule
x= $670 * 100/135
x= $ 496.29
When trying to assess your economic well-being you should:
A. Compare your situation to that of most of people alive today
B. Compare yourself to Donald Trump
C. Compare yourself to your neighbors
D. Compare yourself to your parents
E. Not compare yourself to others because that is foolish
Answer:
The correct answer is A
Explanation:
Economic well being is described or states as having the future as well as the present financial security. It involves the ability to make the choices of the economic and have a sense of satisfaction, security and the personal fulfillment with the one's employment pursuit and the personal finances.
So, in order to assess or evaluate the economic well being, one should compare the situation of his or her economic well being with that of most of the people who are alive today.
To assess your economic well-being, it is best to compare yourself to your neighbors or people in similar situations. This approach, supported by social comparison theory, provides a more realistic measurement of your status. Option C is the most appropriate choice
When trying to assess your economic well-being, it is generally advised to compare yourself to people who are similar to you in terms of socioeconomic status, geography, or community. This concept is known as social comparison theory.
Comparing yourself to people who are in a vastly different situation, such as Donald Trump, can lead to unrealistic expectations and feelings of inadequacy. Therefore, among the options given, option A, comparing your situation to most people alive today, might seem reasonable, but it is more practical to make comparisons with those around you, as indicated in option C, comparing yourself to your neighbors. This method of social comparison helps you gauge your status more accurately within a context that closely relates to your own.The machinery that Daesun buys is much more efficient than Cedric’s machinery, so Daesun often has downtime while he waits for Cedric to shear more sheep.
Answer:
Cedric's low performance is a drawback for Daesun.
Explanation:
Specialization helps to increase an individual's efficiency. But when two or more individuals work together and their efficiency levels are different, coordination problems can occur.
In this case, Daesun is much more efficient at shearing sheep than Cedric, which results in Daesun having nothing to do while waiting for Cedric to finish his job. This issue can be solved either by Daesun specializing in shearing sheep and Cedric doing something else, or Cedric improving his performance so that it matches Daesun's.
If country ABC can produce a unit of good 1 by sacrificing fewer units of good 2 than can country XYZ, it is correct to say that country ABC A. has an absolute advantage in producing good 1. B. will not wish to trade good 1 with country XYZ. C. will import good 1. D. has a comparative advantage in producing good 1.
Answer:
has a comparative advantage in producing good 1
Explanation:
A country has comparative advantage in production if it produces at a lower opportunity cost when compared with other countries. Country abc has a comparative advantage because it sacrifices fewer quantities of good 2.
Country abc should specialise in production of good 1, while country xyz should import from country abc.
A country has an absolute advantage in the production of a good or service If it produces more quantity of the good compared with other countries.
I hope my answer helps you
Jameson manages a well-known cell phone company. This company has been voted as having the best cell-phone service. Consumers appreciate the fact that they can call from almost anywhere in the world and the service still gets through. Jameson knows that the company's product far surpasses that of the competition. One thing has been bothering him, though. In order to put so many resources into ensuring the best service, Jameson has cut back on employees at the firm's customer call center. Recently, consumers have begun complaining about long wait times when they call in with a problem or concern. Although its cell phone service is still considered one of the best, customer satisfaction with the firm's customer service has plummeted. Jameson does not understand why consumers are getting so upset. He believes the exceptional cell phone service more than makes up for long waiting periods and other issues with its customer service. "After all," he says, "They can't have it all. If I invest more in customer service, that means less investment on ensuring the quality of our product offering."
Refer to Scenario 1.1. Jameson has asked you, a marketing consultant, to give him advice. He cannot understand how a cell-phone company with the best product offering in the cell-phone service industry could get such low satisfaction ratings simply because the customer service is not up to par. You suggest that Jameson has a narrowly defined view of the company's product offering. You tell Jameson that successful marketers should define their products as what they ___________________.
Answer:
C) do to satisfy customers
Explanation:
The problem with customer satisfaction is that customers are never completely satisfied. Customers will always demand more and better services and goods for their money. There is also something very important that Jameson is not considering, in marketing nothing makes up for something. If you offer a great product, but a bad customer service, your customers will grade your product depending on the customer service, not on how great it is as a product.
For example, before a few car manufacturers offered one year warranties against defects, then other manufacturers started offering two year warranties, then three years, then five, now some even offer eight year warranties and lifetime warranties for the car's powertrain. And these changes in corporate warranty policies happened in about 20-25 years.
Competition is extremely fierce right now and customer loyalty is obsolete, so companies must perform almost perfectly and even then some customers will still complain because they want more.
During which phase of the hype cycle, developed by Gartner Inc., does interest wane as experiments and implementations fail to deliver on the hype of the peak?
Answer:
Trough of disillusionment
Explanation:
The five overlapping stages in a technology hype cycle are:
Innovation Trigger : the possibility of technological breakthrough, implementation of the technology startsPeak of Inflated Expectations: success stories start to multiply, as well as failures, but nothing concrete. Trough of Disillusionment : If experiments and implementation continue to fail, interest wanes and producers tend to shake out or fail.Slope of Enlightenment : the potential benefits of the technological breakthrough start to multiply, other producers try to imitate the technology .Plateau of Productivity: technology starts to be adopted by the mainstream marketAnswer:
Disillusionment
Explanation:
Trough of Disillusionment: Interest wanes as experiments and implementations fail to deliver. Producers of the technology shake out or fail. Investments continue only if the surviving providers improve their products to the satisfaction of early adopters.
Kellen is on the cross-country team at his college. His coach invited a dietitian to speak to the team about nutrition for optimal performance. One of the topics she covered was phytochemicals. What is the best way to obtain the potential benefits of phytochemicals?
To gain the potential benefits of phytochemicals, one should consume a diet rich in various fruits, vegetables, whole grains, and legumes, which are all phytochemical-rich foods. Dietary supplements containing phytochemicals should not replace this balanced diet.
Explanation:The optimal way to obtain the potential benefits of phytochemicals is through consuming a diet rich in a variety of fruits, vegetables, whole grains, and legumes. Phytochemicals are compounds found in plants that have been found to have health benefits such as reducing inflammation and helping to prevent chronic diseases like heart disease and cancer.
Here are some examples of phytochemical-rich foods include:
Vegetables: kale, spinach, broccoli,Fruits: berries, oranges, grapes,Whole grains: brown rice, quinoa,Legumes: lentils, chickpeas.It's important to note that while dietary supplements may contain phytochemicals, they should not replace a balanced, nutrient-rich diet as the primary source of nutrition.
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The best way to obtain the potential benefits of phytochemicals is by consuming a diverse and balanced diet rich in fruits, vegetables, whole grains, legumes, and nuts. Phytochemicals are natural compounds found in plant-based foods that offer various health benefits.
By incorporating a wide variety of colorful fruits and vegetables into one's diet, individuals can ensure they receive a broad spectrum of phytochemicals, each with its unique advantages. These compounds help protect against chronic diseases, boost the immune system, and enhance overall performance, making them especially valuable for athletes like Kellen.
Phytochemicals, also known as phytonutrients, are biologically active compounds found in plants. They are not essential nutrients like vitamins and minerals, but research suggests that they offer a range of health benefits. Phytochemicals have antioxidant and anti-inflammatory properties, which can help reduce the risk of chronic diseases and enhance overall health.
To obtain the potential benefits of phytochemicals, it's essential to consume a wide variety of plant-based foods. Different fruits and vegetables contain various phytochemicals, often giving them their vibrant colors. For example, lycopene in tomatoes, flavonoids in citrus fruits, and polyphenols in berries all provide unique advantages. By incorporating a colorful array of fruits and vegetables into the diet, individuals can maximize the potential benefits of phytochemicals.
Furthermore, whole grains, legumes, and nuts also contain phytochemicals, so diversifying one's diet to include these foods is equally important. The synergy of various phytochemicals from different sources can help protect against chronic diseases, improve immune function, and ultimately support optimal performance, which is particularly relevant for athletes like Kellen. In conclusion, the best way to harness the potential benefits of phytochemicals is through a balanced, plant-rich diet.
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McGraw purchased an antique rocking chair from Tillis by check. The check was dishonored by the bank due to insufficient funds. In the meantime, McGraw sold the rocking chair to Rio who had no knowledge that McGraw’s check had been dishonored. Which of the following is correct?
A. Tillis may repossess the rocking chair from Rio.
B. Tillis may recover money damages from Rio.
C. Tillis may recover money damages from McGraw.
D. Tillis may recover damages from McGraw based on fraud.
Answer:
Depends on the price of the chair, it may be one or the other.
C) Tillis may recover money damages from McGraw.
D) Tillis may recover damages from McGraw based on fraud.
Explanation:
If the price of the rocking chair was higher than $500, then McGraw committed a felony by writing a bad check, but if the price of the rocking chair was lower than $500, then McGraw wouldn't go to jail, but he is still responsible for any damages suffered by Tillis. Most states consider writing a bad check for more than $500 a felony (check fraud), but if the amount is lower it may be considered a misdemeanor. The misdemeanor doesn't always apply since it can be considered unintentional, it all depends on the circumstances.
Since Rio bought the rocking chair in good faith and McGraw owned it at that moment, then he will keep it and no one can accuse him of any type of crime or wrongdoing.
Final answer:
In this legal scenario, Tillis has the right to reclaim the item but cannot recover damages from Rio. The responsibility for payment falls on McGraw unless fraud is proven.
Explanation:
Tillis may repossess the rocking chair from Rio because Tillis has the right to reclaim the item as the original owner.
Tillis cannot recover money damages from Rio since Rio purchased the item in good faith without knowledge of the check being dishonored. However, Tillis may recover monetary damages from McGraw for not fulfilling the payment obligation.
Tillis cannot recover damages from McGraw based on fraud unless there is clear evidence of fraudulent intent in the transaction.
The latest data from the movie studios reveals that attendance at movies has declined as well as the average ticket price. How could this have possibly happened? 1. There was an increase in demand and no change in supply. 2. There was a decrease in demand and an increase in supply. 3. There was no change in demand and an increase in supply. 4. There was a decrease in demand and no change in supply. 5. There was no change in demand and a decrease in supply.
Answer:
(2) There was a decrease in demand and an increase in supply
Explanation:
For a movie studio, a decline in attendance suggests that demand for showtime (movies) had declined. If demand had increased, there would have been an increase in attendance at the movies. If demand had remained the same, attendance would have remained unchanged too with no increase or decrease.
However, the decline in the average ticket price suggests that supply of movies had most likely increased (it could also be the case that studios decrease prices in a bid to attract customers in the face of dwindling demand). An increase in average ticket price would have suggested that lower movies were available or demand was higher than supply.
Answer:
2. There was a decrease in demand and an increase in supply.
Explanation:
If the latest data from the movie studios reveals that attendance at movies has declined as well as the average ticket price, then this could possibly have happened as a result of 2 things:
1. A DECREASE IN DEMAND: This is very obvious because it is stated clearly that 'attendance at movies have declined'' that means people no longer go to movies as they used, at least some people may not even be going anymore.
2. INCREASE IN SUPPLY: The second reason might be less obvious but it can be recalled that one of the major reasons in economics that triggers a price drop is 'increase in supply'. In the scenario, the fact that average ticket price across board have declined points more in the direction of increase in supply.
Hunter-gatherer societies allocated resources by a combination of Individual decisions. Sharing customs. Organized hunting/gathering activity All of the above.
Answer:
All of the above.
Explanation:
Hunter-gatherer societies is a community of people also known as foragers, prehistoric men or early men, existed in the early ages. They hunt for food, they live a nomadic life, they use very crude implements made from things around them both for protection and hunting for food. The did not practice agriculture, they hunt for games.
They allocate according to the norms and values of their environment.
What term is used to describe a type of purchasing arrangement where a seller holds an item for the buyer and allows the buyer to pay it off in a series of payments?
Answer:
LayawayExplanation:
A system of paying a deposit to secure an item for later purchase.
Assume that 1200 births are randomly selected and exactly 608 of the births are girls. Use subjective judgment to determine whether the given outcome is unlikely, and also determine whether it is unusual in the sense that the result is far from what is typically expected.
a. Determine whether exactly 608 girls out of 1200 randomly selected births is unlikely.
b. Determine whether exactly 608 girls out of 1200 randomly selected births is unusual.
Answer:
a) For this case we have just one possibility out of 1200 births, since the other possiblities for the number of girls in 1200 are {1,2,3,......,607,609,610,.....,1200}, so then the probability for 698 is just :
[tex] p=\frac{1}{1200}=0.000833[/tex]
And since the probability is <0.05 we can consider the event unlikely.
b) If the number observed is similar than the expected value we can consider the event not unusual.
The expected value for this case since we have a sample 1200 and assuming the probability of being girl 0.5 then the expected value would be:
[tex] E(X) = n*p = 1200*0.5 = 600[/tex]
So as we can see 608 is not far away from the expected value so then we can consider the event NOT unusual
Explanation:
For this case we need to remember that an event is unlikely if the probability is very small for example <0.05. The complement for the event would be the probability for how likely is.
For this case we have the following event: A="In 1200 births selected exactly 698 of the births are girls"
Part a
For this case we have just one possibility out of 1200 births, since the other possiblities for the number of girls in 1200 are {1,2,3,......,607,609,610,.....,1200}, so then the probability for 698 is just :
[tex] p=\frac{1}{1200}=0.000833[/tex]
And since the probability is <0.05 we can consider the event unlikely.
Part b
If the number observed is similar than the expected value we can consider the event not unusual.
The expected value for this case since we have a sample 1200 and assuming the probability of being girl 0.5 then the expected value would be:
[tex] E(X) = n*p = 1200*0.5 = 600[/tex]
So as we can see 608 is not far way from the expected value so then we can consider the event NOT unusual
To work on a specific issue that needs a resolution, your company could put together a(n) __________. A. collaborative committee B. cross-functional team C. ad hoc committee D. problem-solving team E. commission
Answer:
To work on a specific issue that needs a resolution, your company could put together a problem-solving team
Explanation:
It is a known fact that when problem arises, what comes to everyone's mind is a solution to such problem. From the above analogy, it is expedient to note that working on issues that needs resolution a problem-solving team is required in order to have a round peg in a round hole, thus; solving the problem without escalating it whatsoever.
The management at Joy, a local jewelry store in London, has hired a comparison shopper to visit other local jewelry stores to gain product pricing information. This scenario most likely illustrates the concept of _____.a. threaded marketingb. competitive intelligencec. urban informaticsd. market basket analysis
Answer:
b. competitive intelligence
Explanation:
Competitive intelligence is the information a company collects about its rivals, business environment, and industry in order to analyze it to develop more effective business strategies.
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Myra provides accounting services as an independent contractor for Great Northern. Because of this relationship, Great Northern is responsible for withholding and paying Myra's employment taxes, including federal unemployment compensation (FUTA), Social Security (FICA) and FICA excise tax.
a) true
b) false
Final answer:
The statement is false because Myra, as an independent contractor, is responsible for her own employment taxes, including FUTA, Social Security (FICA), and Medicare contributions. Great Northern is not responsible for withholding or paying these taxes on behalf of Myra.
Explanation:
The statement about Myra, an independent contractor, is false. As an independent contractor providing accounting services to Great Northern, Myra is responsible for her own employment taxes, not the company. According to tax laws, independent contractors receive a 1099 tax statement and must pay both the employee and employer sides of payroll taxes, which includes Federal Unemployment Tax Act (FUTA), Social Security (FICA), and Medicare contributions.
Employment taxes for FUTA are paid by the employer and not withheld from an employee's wages, which means Myra, as an independent contractor, would need to handle this tax on her own. The same applies to FICA taxes, where typically an employer would withhold Social Security and Medicare taxes from an employee's wages and also pay a matching amount. However, since Myra is an independent contractor, she would be responsible for the full contribution, covering both the employee and employer shares, often referred to as self-employment tax.
Rufus, a supervisor at an automobile store, is considered friendly by his subordinates and has the authority to assign important work to high performers under his wing. But he does not chalk out clear objectives for his workers. According to Fiedler's contingency leadership theory model, which of the following leadership styles should Rufus follow in order to be a better leader?
a. Task-oriented
b. Relationship-oriented
c. Power-oriented
d. Team-oriented
Answer:
a. Task-oriented
Explanation:
Since Rufus, is already considered friendly by his subordinates and has the authority to assign important work to high performers under his wing, with the only limitation being that he does not chalk out clear objectives for his workers. According to Fiedler's contingency leadership theory model, the leadership styles that Rufus should follow in order to be a better leader is Task-oriented leadership.
The reason for the above suggestion is that Task-oriented leaders are focused on getting the job done and achieving set goals. These category of leaders are not as bothered about employees as they are about developing clear objectives required for achieving tasks meeting goals.
When economists are sketching examples of a demand or supply curve that is close to horizontal, they refer to that demand or supply curve as ____________.
Answer:
Elastic
Explanation:
Description of a curve elastic.: The curve believed by the longitudinal axis of an initially normal elastic strip or bar bent to any structure of elements within its elastic limits.
Elasticity relates to the level of sales or market sensitivity in response to price changes. If a curve becomes more elastic than small price shifts can cause large volume changes consumption.At the poles, horizontal will be a beautifully elastic curve, while vertical will be a completely inelastic curve.When economists are sketching examples of a demand or supply curve that is close to horizontal, they refer to that demand or supply curve as perfectly elastic.
Explanation:When economists are sketching examples of a demand or supply curve that is close to horizontal, they refer to that demand or supply curve as perfectly elastic. This means that a small change in price leads to an infinitely large change in quantity demanded or supplied. Perfectly elastic curves occur in markets where there are countless substitutes for a product or in cases of very perfect competition.
For example, if a seller drops the price of a product by a small percentage and the quantity demanded increases significantly, this would be depicted with a perfectly elastic demand curve in a supply and demand diagram.
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A CPA can accept a gift from a client as long as:
Adequate safeguards exist to prevent any threats to compliance with the Integrity and Objectivity rule
Adequate internal controls exist in the client entity to ensure gifts are made without any pre-conditions
The amount is below what is considered to be a material payment
Audit services are not provided to the client
Answer:
A:Adequate safeguards exist to prevent any threats to compliance with the Integrity and Objectivity rule
A CPA can accept a gift from a client if there are safeguards against potential threats to their professional integrity and objectivity, and if the gift's value is not considered a material payment that could influence their professional judgment. It's more restricted when the client is an audit client.
Explanation:According to the Code of Professional Conduct for certified public accountants (CPAs), a CPA can accept a gift from a client under certain conditions. Primarily, there must be adequate safeguards in place to prevent any threats to compliance with the 'Integrity and Objectivity' rule. This rule ensures that CPAs maintain their professional independence and do not allow gifts to influence their professional judgment. Secondly, the amount of the gift must not be considered a 'material payment', a term that typically refers to a substantial amount that could potentially influence the CPA's professional opinion. Importantly, if the client is an audit client, accepting a gift may be prohibited or heavily restricted to maintain the CPA's independence and objectivity.
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Mary sets a target for the project budget during the planning phase. While executing the project, she checks to make sure she is within budget. Mary determines that she needs to refine the scope of the project and change her timeline and costs for the project activities. Mary is using which tool to manage the cost of this project?a. cost performance baseline
b. cost of quality
c. funding limit reconciliation
d. vendor bid analysis
Answer:
d. vendor bid analysis
Explanation:
Vendor bid analysis -
It is the type of method , which helps to find out the cost of a project by comparing the bids that are submitted by other suppliers , is referred to as vendor bid analysis.
This method require cots like , proposals , bids and quotes etc.
Hence , from the given scenario of the question,
The correct option from the question is ,
d. vendor bid analysis .
Management accounting information of a company is primarily used by: Multiple Choice a) its customers to understand the pricing of a product. b) its investors to make investment decisions. c) its creditors to understand the credibility of the business. d) its employees to plan and control operations.
Answer:
d). it's employees to plan and control operations
Explanation:
Management accounting, as the name suggests refers to analysis of cost of production and identifying and correcting those areas which increase the cost of production and presentation of this information to the management so as to take important decisions.
Management accounting aims at cost reduction without compromising the quality of products. It focuses upon optimal utilization of resources and efficiency.
The end users of management accounting information are the employees and the management itself.
Thus the objective of presentation and disclosure of such costs is to plan and control operations more efficiently.
A project charter is most likely developed in which project management process group?
a. Definition of activities.
b. Initiating.
c. Planning.
d. Defining scope.
Answer: Initiating
Explanation: A project charter also called project definition or project statement is developed in the initiating phase which is the first phase and indicates the start of a project management cycle. It explains the project at hand, if the impending project is achievable, the purpose of the project and the project charter which is the main output of the initiating phase defines what is required, the scope and objective of the project.
Ginger's working on creating her first Google Search Ad. She wants to create an inviting and relevant ad, so potential customers will respond favorably. To earn user clicks, Ginger should focus on creating an ad that _____. (Choose two.)
has a larger font size
includes a current promotion
is listed after search results
includes at least two different colors
has a relevant headline
Answer:
has a relevant headline
includes a current promotion
Explanation:
A google search ad is a paid advertisement that is created to promote a product or service using the google ads platform and they appear in the search results on Google. To create a relevant ad that will earn user clicks, Ginger should focus on creating an ad that has a relevant headline that is related to the product or service so that it will attract the potential customers that are looking what she is offering. Also, the ad should include a current promotion that will increase potential customer's interest and call them to action.
The other options are not right because having a large font size, being listed after search results and including at least two different colors won't get customers interest and lead them to act by clicking on the ad.
Economic reasoning is based on the premise that: only economic decisions or actions have a cost associated with them. only non-economic decisions or actions have a cost associated with them. all decisions or actions have a cost associated with them. all decisions or actions are costless.
Answer:
Economic reasoning is based on the premise that: all decisions or actions have a cost associated with them.
Explanation:
Economic reasoning is a way of thinking in which all the actions are presented and analysed using economic principles to determine their economic viability. Some of the principles that form a basis for economic reasoning are;
1. People face trade-off's: every person has to engage in trade at one point or another since resources will always be limited and human needs are infinite. Therefor there will always be a scarcity that needs to be fulfilled.
2. People economize: people will always make decisions on something based on what they perceive as the best economic decision in terms of benefits over costs.
3. All choices involve costs: every choice even if it doesn't involve money or a business transaction has a cost. Even doing nothing has a cost since there is an opportunity cost of another alternative activity.
4. The consequences of choices lie in the future: decisions are often made without knowing what is to come. Humans however try to use their knowledge to predict the future. The future holds the consequences on the choices made now.
5. People respond to incentives: incentives can be either rewards or punishments. These incentives determine how people will react and can be used to model behavior.
6. Voluntary trade creates wealth because both parties expect to gain value from the exchange.
7. Markets facilitate exchange: these institutions encourage people to engage trade depending on their individual perceptions.
8. Governments can some times improve market outcomes
9. The standards of living, both individual and national all depend on the ability to produce goods and services.
Economic reasoning is based on the premise that all decisions or actions have a cost associated with them.
Explanation:Economic reasoning is a critical thinking skill used to analyze and solve economic problems. It involves evaluating costs, benefits, incentives, and trade-offs to make informed decisions and understand how individuals and societies allocate resources to satisfy unlimited wants with limited resources. Economic reasoning is based on the premise that all decisions or actions have a cost associated with them.
Economics teaches us that every choice involves tradeoffs and that even non-economic decisions have associated costs. For example, if a student chooses to spend their time playing video games instead of studying, the cost of that decision could be a lower grade on a test. Therefore, understanding the concept of opportunity cost is crucial in economic reasoning.
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