Two companies, Acme and Pinnacle, each decide whether to produce a good quality product or a poor quality product. In the figure, the dollar amounts are payoffs and they represent annual profits (in millions of dollars) for the two companies. Refer to Table 17-7. Which of the following statements is correct? O a. Acme can potentially earn its highest possible profit if it produces a good quality product, and for that reason it is a dominant strategy for Acme to produce a good quality product O b. The highest possible combined profit for the two firms occurs when both produce a poor quality product, and for that reason producing a poor quality product is a dominant strategy for both firms. O c. Regardless of the strategy pursued by Acme, Pinnacle's best strategy is to produce a good quality product, and for that reason producing a good quality product is a dominant strategy for Pinnacle. O d. Our knowledge of game theory suggests that the most likely outcome of the game, if it is played only once, is for one firm to produce a poor quality product and for the other firm to produce a good quality product.
Answers
C. Regardless of the strategy pursued by Acme, Pinnacle's best strategy is to produce a good quality product, and for that reason producing a good quality product is a dominant strategy for Pinnacle.
This is because Pinnacle will always make the highest possible profit, regardless of what Acme does, if Pinnacle produces a good quality product. For example, if Acme produces a poor-quality product then Pinnacle would make a profit of $8 million.
If Acme produces a good quality product then Pinnacle would make a profit of $10 million. Therefore, it is always in Pinnacle's best interest to produce a good quality product. This is why producing a good quality product is a dominant strategy for Pinnacle.
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Related Questions
Which of the following statements is correct regarding an audit team's documentation requirements for attributes sampling?
a. The audit team should document information regarding the number of deviations and sample deviation rate, but not the allowance for sampling risk.
b. The audit team's documentation should include information regarding all steps of the sampling process and implications of the conclusions reached on internal control reliance and substantive procedures.
c. The audit team's documentation should include information about the control environment, including an assessment of management's integrity.
d. The audit team's conclusions do not need to be documented unless they decide to rely on internal control at planned levels.
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(a) The assertion that an audit team's documents for attributes sampling are accurate is that the team should record information on the number of deviations or sampling deviation rate, but not on the allowance of sampling risk.
What audit means?A physical inventory check is followed by an auditor's review or inspection of various books of accounts to ensure that all departments are using the same documented system of documenting transactions. It's done to make sure the organization's financial accounts are accurate. An audit's objective is to reach a determination regarding the fairness and compliance with applicable accounting rules of the financial statements.
Why audit is important?The credibility an audit lends to a set of financial statements and the assurance it gives shareholders that the accounts are truthful and fair make it crucial. It can also aid in enhancing a company's internal processes and controls. The fundamental tenets of auditing include secrecy, objectivity, independence, skills and competence, work done by others, documentation, planning, audit evidence, accounting system, internal control, and audit reporting.
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Which of the following is not a typical effect of vendor managed inventory (VMI)?
O increased processing speed for manufacturers and distributors
O fewer data entry errors for manufacturers and distributors
O reduced planning and ordering costs for distributors
O increased stock-outs for distributors
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Vendor-managed inventories reduced the processing times for manufacturers and distributors.
A is the proper response.
Why is it vital for sellers to manage inventory?A tried-and-true inventory system called vendor managed inventory was developed to make order fulfilment and inventory management simpler. It encourages improved communication between suppliers and distribution partners by synchronising business objectives and streamlining processes for all parties.
How does vendor-managed inventory work?Vendor Managed Inventory promotes a win-win relationship between the two sides to a transaction, allowing them to share risk and work together for mutual benefit. By controlling the buyer's inventory or supply chain management, the vendor can oversee and manage the entire supply chain.
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An invoice is never subject to both trade and cash discounts. true false
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False. Since, an invoice is a subject to both cash and trade discounts.
How does an invoice is a subject to both trade and cash discounts?An invoice, or tab is a commercial document issued by a Seller to a Buyer in connection with a sale transaction, specifying the products, quantities and agreed prices for the products or services provided by the Seller to the Buyer. Payment terms are normally stated on the invoice.
Transaction rebates are not explicitly reflected in the company's books of accounts and all transactions are entered in the sales ledger as a net amount. In contrast, cash discounts on the finance book are shown separately as an expense on the income statement. Not all invoices receive a cash discount. If no cash discount is offered, the invoice issuer will only require full payment. "n/30", for example, indicates that no cash discount applies and the credit period ends 30 days after it started.
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American clothing manufacturer simple suits was sued in new york courts by watchdog groups that discovered the poor working conditions in manufacturing plants in a u.s. territory. customers are typically concerned with human rights abuses and other problems with supplier relationships at home and abroad.
True or False
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The given statement that the American clothing manufacturer Simple Suits was sued in New York courts by watchdog groups that discovered the poor working conditions in manufacturing plants in a U.S. territory is true.
What is the importance of working conditions?Workplace variables that have an impact on productivity include working hours, stress levels, level of safety, and danger. The motivation of the personnel, and therefore their performance, is highly influenced by improving the work environment and conditions. If a bad work environment may ruin your company, a great work environment can do the exact opposite.
The staff is considerably more likely to produce their best job when they are content, engaged, and joyful. They will become infinitely more productive and less prone to errors. Morale and productivity at work can be greatly affected by the workplace environment. Additionally, by lowering the likelihood of workplace accidents, good working conditions also preserve the well-being of their employees reducing financial liabilities and the need to take time off.
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Riojas, Incorporated, is an all-equity firm with a weighted average cost of capital of 13.3 percent. The current market value of its equity is $4.2 million Assume there are no taxes. According to MSM Proposition I, what will be the value of the company if it changes to a debt-equity ratio of 627
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$4.2milion the value of the company if it changes to a debt-equity ratio of 627.
What is the M&M theory and how is it used?One of the most significant theorems in corporate finance is the M&M Theorem, often known as the Modigliani-Miller Theorem. The economists Merton Miller and Franco Modigliani formulated the theorem in 1958. According to the M&M theory, a company's capital structure has no bearing on its overall worth.
According to the Modigliani-Miller theorem (M&M), a firm's market value may be accurately determined as the sum of its underlying assets and its future net present value of profits. This calculation is made independently of the capital structure of the company. The M&M theory: what is it and how does it work?
According to M&M proposition 1,
if there are no taxes,
Value of the levered firm = the value of unlevered firm.
value of company = $4.2milion
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Reflect or think about an example where you have witnessed or experienced role conflict or team failure and the two types of ambiguity. State what happened and how you reduced the role conflict, addressed the team failure, or resolved the type of ambiguity.
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A manager (John) hires his best friend (Ron) for operational job. Ron finds it very difficult to work after he tried his best to understand the job work or role. Other employees of the company also suffered because he is not able to perform his duties effectively.
As the time went on, it was clear that he was not able to handle responsibility, stress, or new work. John was also not able to punish him or scold him for his wrong doing because of the friendship they both share.
Manager has to redo, or do, 70% of the work from his desk. Manager also provides training to him, but nothing worked. Due to the emotional aspect of the hiring decision, the employees, company, him were affected. This put a serious strain on their friendship. The company suffered because John was not able to do his own work also because of double work- load. And also, company was paying a salary and benefits for an extra employee, but production was low.
This is the situation of role conflict for manager (John). He is not balancing between two role on is of a manager (employee of the company), and a friend of Ron.
Reduce conflict- when, everything go beyond the hands of manager, the company’s management talked with the manager and ask him to find solution. John (manager) privately talks with the Ron and explains him the whole situation.
Ron is also not happy with the job role. John (manager) found new job according to his skills in different company and Ron was also happy with this decision. Ron left the John’s company and they both perform their job roles effectively and efficiently.
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Companies can research many aspects of buying decisions. However, the one that is the mostdifficult to identify is ________.A) what consumers buyB) how and how much they buyC) why they buyD) when they buyE) where they buy
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C) why they buy is the correct option.
Companies can research many aspects of buying decisions. However, the one that is the most difficult to identify is C) why they buy.
What is Buying Decisions?
The decision-making process consumers utilize before, during, and after making a purchase of a good or service is known as the buying decision process. In the case of several choices, it might be viewed as a specific type of cost-benefit analysis.
"Why they buy" buying decisions is important because Businesses need to understand how and why consumers make decisions as it helps them make better business judgements. Businesses can customize their marketing initiatives to match the requirements and desires of their target market by understanding the processes involved in the decision-making process.
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Differenciate the different Between economic and Commercial activities
Answers
Answer:
Explanation:
Commercial activities include those features of an economy that are bound to the interchange of commodities, services, and labor exercises, whereas, economic activity draws and encourages a variety of industries.
Section 1: Creating a Two-Month Budget
Imagine that you are a college student who lives away from home. You have a work-study job at your
college library, and you earn about $600 each month. You have one major long-term goal: you want to
save up money to visit your family soon, and you need at least $100 for your train tickets.
1. Create a budget that will allow you to save at least $100 by the end of October. (10 points)
Make sure your budget includes these fixed expenses:
The cost of rent ($250 each month for your shared apartment)
The cost of your bus pass ($40 each month)
The cost of books ($150, but only in September, at the beginning of the school year)
Make sure your budget considers these variable expense categories:
The cost of food
The cost of clothing
Discretionary spending (money to spend freely)
Personal Budaet
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This budget allows you to save $610 in September and $610 in October, which means you will have saved at least $100 by the end of October. To make sure that you have enough money to buy your train tickets, you can try to save more money in the discretionary spending category, or you can cut back on some of your other expenses.
affirm has 5 per year carrying on each unit of inventory and annual usage of 40000 unit ordering cost
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The affirm has 5 per year carrying on each unit of inventory and annual usage of 40000 unit ordering cost was the 200,000.
What is inventory?The term inventory refers to the company are ready to sell the merchandise, goods, and services and the earn profit. The company used the raw material are converted into the finished goods.
holding cost per unit per year = 5 year
average inventory level = 40000
Annual holding cost = ?
Annual holding cost = average inventory level x holding cost per unit per year.
Annual holding cost = 5 × 40000
Annual holding cost = 200,000.
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TRUE/FALSE. any person eligible to be a debtor under a given bankruptcy proceeding may file a voluntary petition, but must be insolvent to do so. individual debtors must receive credit counseling before filing a bankruptcy petition under most circumstances. the bankruptcy code grants to u.s. district courts original and exclusive jurisdiction over all bankruptcy cases. a trustee in bankruptcy under chapter 7 may sell property included in the debtor's estate. a debt is an obligation to pay money owed by a debtor to a creditor.
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Additionally, a person must have received credit counseling from an accredited credit counseling organization within 180 days prior to filing in order to qualify as a debtor under chapter 7 or any other chapter of the Bankruptcy Code. This counseling can be received individually or in a group setting.
A bankruptcy debtor may be anyone?Only those who "reside or have a domicile, place of business, or property in the United States or a municipality" are eligible to file for bankruptcy under section 109(a) of the Bankruptcy Code.
Only a voluntary petition filed in Bankruptcy Court by a debtor can start a Chapter 13 action.
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based on the map, which of the following best explains the area of the andes mountains that would have the greatest number of rivers?
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The region of the Andes with the largest number of rivers is located in the western part of the mountain range. This is because the western side of the Andes is much wetter than the eastern side. The western side of the Andes receives more precipitation in the form of rain and snow, which is then fed into the region's rivers.
Additionally, this part of the mountain range is located near the Pacific Ocean, which increases the amount of rainfall the region receives. The area is also home to some of the highest peaks in the Andes, which contribute to the high number of rivers in the area. In addition, the steep slopes of the western side of the Andes create a unique geography that allows water to be easily collected from the mountains and channeled into rivers. All these factors combine to make the western region of the Andes the region with the largest number of rivers.
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Which one of the following statements best explains forecasting? Options: A. The less removed the forecast period is from the date the forecast is made, the greater the difficulty in making the forecast and the greater the risk that the actual results will differ from the forecast. B. Forecasting eliminates the uncertainty of future sales and expenses. C. Forecasting is typically done based on demand for the goods and products (i.e., guest demand to a hotel room). D. Forecasting generally relies on the managerial institution and expertise.
Answers
Demand for the goods and products is often taken into account while forecasting.
What is forecasting's level?The forecast level serves as a consumption level in addition to defining the bare minimum of detail for which the prediction is defined. The demand class, which also regulates the consumption of forecasts, can be included in the forecast level definition or not.
How can a bad forecast be handled?This article provides some advice on how to prevent a poor forecast so you don't feel like you're trying to strike a target while wearing blinders.
Make certain that Opportunities are Realistic and Achievable.
Managing Biases; Regularly Reviewing the Long-Term Forecast; Improving Bad Data and Data Input; and Managing Biases.
A Combination of Art and Science Can Improve the Sales Forecast.
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benitez company currently outsources a relay switch that is a component in one of its products. the switches cost $40 each. the company is considering making the switches internally at the following projected annual production costs: unit-level material cost $ 5 unit-level labor cost $ 4 unit-level overhead $ 3 batch-level set-up cost (4,000 units per batch) $ 42,000 product-level supervisory salaries $ 46,000 allocated facility-level costs $ 37,000 the company expects an annual need for 4,000 switches. if the company makes the product, it will have to utilize factory space currently being leased to another company for $3,200 a month. if the company decides to make the parts, total costs will be: multiple choice $14,400 more than if the switches are purchased. $51,400 more than if the switches are purchased. $31,600 less than if the switches are purchased. $37,000 less than if the switches are purchased.
Answers
The cost of buying switches instead of creating them will increase by $10,500, claims the statement.
What does the term "company" mean?A organization is a legal person that a group of people to conduct and manage a business venture, whether it be corporate or industrial. Depending here on corporate legislation of its country, a corporation may be set up in a variety of ways including tax and financial responsibility reasons.
Briefing:Incremental analysis: Incremental analysis determines the benefit or loss from taking one course of action than taking another. Incremental analysis is used in decision making. It helps to select most profitable course of action.
Calculating the gain or loss from choosing one line of treatment over another using incremental analysis. Making decisions involves the application of incremental analysis. It aids in making the most lucrative decision.
Net benefit or drawback: The benefits or drawbacks of choosing 1 course of action over another are:
Gain from proposal 1 minus Gain from proposal 2 is the net advantage/(disadvantage).
Choosing a purchase or make choice involves taking incremental expenses into account. Products be obtained from an outside source if manufacturing costs are greater then buying costs, otherwise they are created internally.
Consequently, the total cost of switching is $110,500.
Materials costs, labor costs, variable costs, supervisor wages, and rent loss due to not leasing space are all included in the total cost of creating switches. Rent lost seems to be an opportunity cost that matters when choosing to manufacture or purchase. Allocated expenses are irrelevant for making decisions since they remain constant regardless of the course of action. The whole cost is $110,500.
calculating the additional cost or value of making changes as opposed to buying them from an outside provider.
The price of switches is:
[tex]\begin{aligned}\text { Purchase cost } & =\text { Number of switches } \times \text { Cost per unit } \\& =5,000 \times \$ 20 \\& =\$ 100,000\end{aligned}[/tex]
Purchase costs are $100,000, but production costs are $110,500. Making materials will result in an extra expense of $10,500 since the cost of production is greater than the price of purchasing.
Extra cost is the extra expense spent by manufacturing components as opposed to buying them. Parts of Step 1 cost $110,500 to produce. The acquisition will cost $100,000. That leads in an additional expense of $10,500 for manufacturing.
Therefore, if the switching are obtained, the price of manufacturing switches will increase by $10,500.
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ash flows from investing activities, it's important to review where a company's investment activity falls within its financial statements. There are three main financial statements: the balance sheet, income statement, and cash flow statement.
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Organizations should monitor and analyze three main types of cash flow: cash flow from operating operations, cash flow from investment activities, and cash flow from financing activities. These three categories of cash flow can be used to determine the liquidity and solvency of the company. All three appear on the cash flow statement of a business.
What are the three financial statements?
Income statement, balance sheet, and cash flow statement are all required financial statements.
Trading professionals can utilize these three statements as instructional tools to evaluate a company's financial standing and swiftly ascertain its true worth.
Why Are Investment Activities Important?
The line item for investing activities is one of the most significant ones on a company's cash flow statement.
You can learn from them about how a company might develop in the future and generate more income.
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On January 2, 2019, All Good Company purchased 6,000 shares of the stock of Big Bad Company, and DID NOT obtain significant influence. The investment is intended as a long-term investment. The stock was purchased for $19.00 per share, and represents a 10% ownership stake. Big Bad Company made $45,000 of net income in 2020, and paid dividends to All Good Company of $97,500 on December 15, 2020. On December 31, 2020, Big Bad Company's stock was trading on the open market for $14.50 per share at the end of the year. Use this information to determine the unrealized gain or loss on the investment that should be reported at year end by All Good Company. If it is a loss, enter as a negative number. Round to nearest whole number (no cents).
Answers
Therefore, All Good Company should report the investment's $155,000 book value at the end of the year.
An asset or item purchased with the intention of earning money or increasing in value is an investment. An asset's appreciation over time is referred to as appreciation. When a person purchases a product as an investment, the goal is not to use the product now but to use it to build wealth in the future.
Calculation to determine the investment's book value, which All Good Company should report at the end of the year: $60,000 x 6,000 x $10.00 per share $135,000 less than the following:
Ending investment balance of $155,000 (60,000+$135,000-$40,000) Dividend ($40,000).
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Andrews Corporation uses the weighted-average method of process costing. The following information is available for February in its Polishing Department:
Equivalent units of productionâdirect materials 124,000 EUP
Equivalent units of productionâconversion 107,200 EUP
Costs in beginning Work in Processâdirect materials $ 67,800 Costs in beginning Work in Processâconversion $ 49,800 Costs incurred in Februaryâdirect materials $ 572,900 Costs incurred in Februaryâconversion $ 719,500 The cost per equivalent unit of production for conversion is:
Multiple Choice
a. $12.06
b. $6.71
c. $7.18
d. $6.20
e. $5.98
Answers
C) Conversion costs $7.18 per equivalent unit of production. In cost accounting, the sum of direct labor costs and manufacturing overhead costs is referred to as conversion costs.
The costs in beginning work in process—conversion are $49,800; costs in February—conversion are $719,500;
equivalent units of production—conversion are 107,200. The cost per equivalent unit of production for conversion is ($49,800+$719,500)/107,200=$7.18.
The cost per equivalent unit of production for conversion is the sum of the costs in beginning work in process—conversion and the costs incurred in February—conversion.
In a process cost system, the production cost report for each processing department calculates the cost per equivalent unit. It is typically calculated separately for conversion costs and direct materials.
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FILL IN THE BLANK a firm's ____are costs that increase as quantity produced increases. these costs often show ___ illustrated by the increasingly steeper slope of the total cost curve.
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A firm's variable costs are costs that increase as quantity produced increases. these costs often show diminishing marginal returns illustrated by the increasingly steeper slope of the total cost curve.
What totals all the production costs that rise in proportion to the volume produced?The marginal cost, or the price of producing more, is the adjustment to the overall cost in economics that results from increasing the quantity produced.
Are there any costs that rise with increased production?Costs that fluctuate according on the level of output are referred to as variable costs. As a result, variable costs will rise as production volumes rise.
What is the name for the rise in total variable costs brought on by the creation of an additional output unit?The marginal cost is the right response (A). The difference in price that results from adding an extra unit to the quantity produced is known as the marginal cost. Therefore, it is the expense incurred when an additional unit is generated.
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anchoring bias is the tendency to: focus on the end result, using it as an anchor and assuming that nothing will change in the future. focus on the desired result and form all other expectations in relation to it. begin with an anchor, or starting point, and insufficiently adjust from there. skew probability toward a vivid, easily recalled event.
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Anchor bias tends to: start with an anchor or beginning point and think about marketing strategy and Black Friday sales.
What is anchoring bias?Anchor bias is a cognitive bias that relies excessively on the first information the people already have or the first information they find to make a decision. When we plan or estimate something, we interpret the latest information from an anchor point of reference rather than looking at it objectively. For example, if first he sees a $1,200 T-shirt, then second T-shirt for $100, he tends to look at the second T-shirt cheaply.
What does anchoring bias mean in healthcare?Anchoring bias is closely related to confirmation bias and works in interpreting evidence. This refers to the practice of doctors prioritizing information and data that support a first impression, even if the first impression is wrong.
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On January 1, Year 2, Kincaid Company's Accounts Receivable and the Allowance for Doubtful Accounts carried balances of $66,200 and $1,900, respectively. During the year Kincaid reported $166,000 of credit sales. Kincaid wrote off $1,400 of receivables as uncollectible in Year 2. Cash collections of receivables amounted to $185,700. Kincaid estimates that it will be unable to collect one percent (1%) of credit sales. What would be the net realizable value of receivables appearing on Kincaid's Year 2 balance sheet?
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Kincaid estimates that it will be unable to collect one percent (1%) of credit sales. The net realizable value of receivables appearing on Kincaid's Year 2 balance sheet will amount to: $53,520.
The balance of money owed to a business for items or services provided or utilised but that haven't yet paid for by clients is known as accounts receivable (AR). On the balance sheet, accounts receivable are shown as a current asset. Any sum of money that clients owe for purchases they made using credit is known as AR.
Receivables are recorded as current assets on the balance sheet of the company and are produced by extending the line of credit. to clients. Because they are able to be used collateral to receive a loan to help pay short-term commitments, they are regarded as liquid assets.
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a new car dealer can reduce the list price of a new ford escape suv by offering you a of $1,000 for your 2008 nissan sentra.
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A new car dealer can reduce the list price of a new ford escape SUV by offering you a trade- in allowance of $1,000 for your 2008 Nissan Sentra.
An auto dealership, is a business that sells new or used vehicles to the public under a dealer agreement with an automaker or its sales subsidiary. car. Replacement parts and auto repair services are regularly offered at auto dealerships.
Early automakers sold their products directly to consumers or through a variety of channels, such as mail order, department stores, and street vendors. William E. Metzger opened the first dealership nationwide in 1898. Most U.S. states have franchising laws that restrict direct sales from automakers to customers by requiring new cars to be sold only by authorized independent dealers. licensed and binding.
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An unlicensed assistant may do all of the following activities, EXCEPT:
A. assist the licensee with administrative duties and tasks
B. exhibit units for rent and provide tenants with information about the lease agreement
C. exhibit homes that are for sale and show the buyer around the home
D. fill in preprinted lease agreements and collect monies from prospective tenants, as long as the employee does not negotiate rents
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An unlicensed assistant may do all of the following activities, except exhibit homes that are for sale and show the buyer around the home.
Which of the following actions is permissible for an unlicensed assistant?Unlicensed assistants are permitted to mail, deliver, pick up, or arrange for the mailing, delivery, or picking up of documents or other instruments related to the transaction, including obtaining signatures on the documents or other instruments from the principals, parties, or service providers in connection with the transaction.
These tasks may be carried out by an unauthorized personal assistant: Dispatch calls to a licensee by picking up the phone. listing and updating a multiple listing service (MLS) Once a deal has been reached, follow through on loan agreements.
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the active area of a worksheet contains data or has contained data and does not contain cells that were not used in the worksheet. true or false
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The following statement "the active area of a worksheet contains data or has contained data and does not contain cells that were not used in the worksheet" is true.
A worksheet in its specific sense refers to a piece of paper used for work. Although they can take many different shapes, they are most frequently associated with accounting, tax preparation, and other commercial situations. The worksheet that is entirely paper-based is gradually being replaced with software.
It is "a small piece of paper used to file painting schedules, operating hours, special instructions, etc. a small piece of paper used to draw problems, ideas, or the like." There should be questions for students and spaces for them to record their answers on any worksheets used in the classroom.
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Braden is preparing several success stories prior to his job interview for a sales representative position. Which of the following scenarios would result in the best success story for this position?
a. A story about volunteering for a local food bank over the holidays
b. A story about working as part of a team in college to prepare a classroom presentation about a company's history
c. A story about a lemonade stand that Braden ran when he was a child
d. A story about developing a new sales technique that increased his customer sales by 30 percent over a six-month period
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In preparation for his job interview for the post of sales representative, Braden is assembling a number of success tales. The perfect success story for this position would be one about creating a new sales strategy that raised his customers' sales by 30% over the course of six months.
Which of the following tips would you give someone who is calling an employer to make a good first impression?Ask if you can call back in a few minutes if you were surprised by the call.
If a hiring manager questions why they should choose you over other candidates who have more experience, how should you respond?Sincerely, I have every qualification you're seeking for in terms of knowledge and expertise. I am fairly sure that I am the most qualified applicant for this position. My experience with previous initiatives, along with my aptitude for working with people, will be useful in this role.
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TRUE OR FALSE the gatt agreement has an escape clause whereby member nations may levy increased duties on imported products where there are unforeseen circumstances that cause or threaten serious injury to domestic producers
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The statement is true because the GATT accord features an exit clause allowing member states to charge high taxes on imports when unveil result in or pose a danger to harm domestic manufacturers.
What does the word "product" mean?Any good or service you offer to satisfy an user's need or desire is a product. There are both real and virtual ones. Durable things (such as automobiles, furniture, and laptops) and highly perishable items are examples of physical products (like food and beverages).
What kind of items come to mind?Electronics, furniture, jewellery, etc. are a few examples. These goods often have higher price points. These items are scheduled purchase. Specialty Items: Customers take extra steps to purchase niche goods.
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What is the most important step in problem solving?
Understanding your process is THE MOST IMPORTANT part of systematic problem solving. It’s your lifeline throughout the entire project.
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The most important step in problem solving is to identify the problem and break it down into smaller parts that are easier to solve.
What is problem solving?Problem solving is the process of identifying a problem, developing a plan to address it, and then implementing the plan to reach a desired outcome. It involves creative thinking, decision making, and troubleshooting. Problem solving involves analyzing the situation, breaking it down into smaller pieces, and finding solutions. It also involves taking action, learning from mistakes, and adapting to changing circumstances. Problem solving requires the ability to think critically, identify patterns, and develop creative solutions. It is an essential skill for succeeding in both the workplace and in life.
Once you have identified the problem and broken it down, you need to analyze the problem and come up with possible solutions. After that, you need to evaluate the solutions and select the best one. Finally, you need to implement the solution and monitor its effectiveness.
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if overhead cost does not bear a relation to the allocation base, allocating overhead cost using a single plantwide overhead rate c
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If overhead cost does not bear a relation to the allocation base, allocating overhead cost using a single plantwide overhead rate can distort product cost.
In the sector of enterprise, a persevering with price of going for walks a business enterprise is called overhead or overhead charge. Unlike working charges like uncooked fabric and labour, overheads can not without difficulty be related to or known with anybody sales unit. As a result, overheads can not be at once related to the products or offerings being provided, this means that they do now no longer produce profits.
However, overheads are nevertheless crucial to enterprise operations on the grounds that they provide the business enterprise the crucial help it desires to interact in worthwhile activities. All charges at the profits declaration apart from direct labour, direct supplies, and direct charges are called overhead charges.
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When Theresa Martinez relocated from the East to the Midwest, she needed to find a bank with offices in her new state. Several banks offered banking products (checking and savings accounts, loans, certificates of deposit) and other financial products (mutual funds, insurance) that were available from her former bank. After selecting U.S. Bank, Theresa needed some help with her accounts and went to visit her personal banker. She was very impressed with the banker's attitude and willingness to explain certain items to her in terms she could understand. The service Theresa received from the U.S. Bank representative exhibited __________ properties.
A. expertise
B. search
C. customer relationship
D. credence
E. experience
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The service Theresa received from the U.S. Bank representatives exhibited experience Properties. Hence Option E. Experience is the correct answer.
Experience is used to describe conscious events in general, perceptions in particular, or the knowledge and comfort that are produced by these conscious processes. Typically, experience is equated with perception and set apart from other categories of conscious experiences, such as thinking and imagining. In a slightly different context, experience refers to the knowledge and comfort that conscious events create rather than the conscious events themselves. In this regard, it is crucial that knowledge originates from direct perceptual contact with the outside world.
The definition of property states that it is something that a person or business has legal control over. They might have certain legal claims to some objects. Most real estate is an asset because it has or will have financial value in the future.
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records from ar random sample of dairy farms yeilded the infomation vwloq on rhw numbwe od mkw ns female calves
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The probability that a randomly selected calf was born in the night or female can be : 369/513
The correct option is (a)
Now, According to the question:
The number of male and female calves born at various times of the day:
Day Evening Night Total
Males 129 15 117 261
Females 118 18 116 252
Total 247 33 233 513
The probability rules:
General addition rule: P(A or B) = P(A) + P(B) - P(A and B)
Complement rule: P([tex]A^c[/tex]) = P(not A) = 1 - P(A)
P(B | A) = P(A∩B)/P(A) = P(A and B)/P(A)
The probability is the number of favorable outcomes divided by the number of possible outcomes.
P(Born at night) = [tex]\frac{233}{513}[/tex] P(Female)= [tex]\frac{262}{513}[/tex] P(Female and born at night) = [tex]\frac{116}{513}[/tex]
Hence, the probability that a randomly selected calf was born in the night or female can be determined by:
P(Female or born at night) = P(Female) + P(Born at night) - P(Female and born at night)
= [tex]\frac{223}{513} + \frac{262}{513}-\frac{116}{513}[/tex]
= [tex]\frac{223+262-116}{513}[/tex]
= [tex]\frac{369}{513}[/tex]
The correct option is (a)
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The complete question is this:
Records from a random sample of dairy farms yielded the information below on the number of male and female calves born at various times of the day.
Day Evening Night Total
Males 129 15 117 261
Females 118 18 116 252
Total 247 33 233 513
What is the probability that a randomly selected calf was born in the night or was a female ?
a) 369/513
b)485/513
c)116/513
d) 116/252
Exercise 10-12 Prepare a statement of stockholders' equity (LO10-7) Power Drive Corporation designs and produces a line of golf equipment and golf apparel. Power Drive has 100,000 shares of common stock outstanding as of the beginning of 2018. Power Drive has the following transactions affecting stockholders' equity in 2018 March 1 Issues 65,000 additional shares of $1 par value common stock for $62 per share May 10 Repurchases 6,000 shares of treasury stock for $65 per sharee June 1 Declares a cash dividend of $2.00 per share to all stockholders of record on June 15. (Hint: Dividends are not paid on treasury stock.) July 1 Pays the cash dividend declared on June1 October 21 Reissues 3,000 shares of treasury stock purchased on May 10 for $70 per share Power Drive Corporation has the following beginning balances in its stockholders' equity accounts on January 1, 2018: Common Stock, $100,000; Additional Paid-in Capital, $5,500,000; and Retained Earnings, $3,000,000. Net income for the year ended December 31, 2018, is $700,000 Required Prepare the statement of stockholders' equity for Power Drive Corporation for the year ended December 31, 2018. (Amounts to be deducted should be indicated by a minus sign.)
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There are a few processes in the fundamental accounting process of documenting transactions. The first step is to locate the event and the affected accounts.
What do credit and debit mean?Money is entered into an account as a debt (dr), and it is taken out of an account as a credit (cr).
Briefing:
Date Particulars Debit Credit
Mar 1 Cash A/c (65000 × $62) Dr 4030000
Common stock A/c (65000 × $1) 65000
Additional pain-in capital 3965000
May 10 Treasury shares A/c (6000 × $65) Dr 390000
Cash A/c 390000
June 1 Cash Dividend A/c Dr 318000
Dividend payable A/c 318000
(100000 + 65000 + 6000) × $2
July 1 Dividend payable A/c Dr 318000
Cash A/c 318000
Oct 21 Cash A/c (3000 × $70) Dr 210000
Treasury shares A/c (3000 × $65) 195000
Additional pain-in capital A/c 15000
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