A product is considered unreasonably dangerous if it is dangerous beyond the ordinary consumer's expectations or if a less dangerous alternative was economically feasible for the manufacturer but was not produced.
What does the phrase "unreasonably dangerous" mean?A product that is unreasonably dangerous is one that poses greater risks than a reasonable user would expect when using the product as intended. This definition distinguishes between dangerous products, such as drain cleaners or chainsaws, and those that pose risks beyond their intended purpose. Unreasonably dangerous means dangerous when used normally, and dangerous to a greater extent than a typical consumer would consider. Because of its dangerous design, the product injures a user. If either of these flaws renders the product unreasonably dangerous when used as intended, any seller (from manufacturer to retailer) may be held liable for any injuries caused by the defective product.To learn more about dangerous products, refer to:
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cash equivalents: multiple choice are readily convertible to a known cash amount. include investments due in twenty months. include long-term investments. include accounts payable. include accounts receivable.
Cash equivalents include investments due in twenty months.y bills, commercial.
Cash equivalents are investment securities that might be supposed for short-term making investments; they've excessive credit quality and are notably liquid. cash equivalents, additionally referred to as "cash and equivalents," are one of the three important asset lessons in economics making an investment, along with shares and bonds.
Cash equivalents include financial institution bills and marketable securities which include business paper and brief-term authorities bonds. Cash equivalents ought to have maturities of three months or less.
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Is the sentence “If Ashley is late, other people do her work.” true or false?
Answer: false
Explanation:
because she should be on time and she should keep track of her own work.
schools require students to obtain specific vaccinations before enrolling. this is not to punish individuals, but rather to provide everyone on campus with a safe and healthy community. this idea of individuals in society benefiting from the action of a third party, such as a classmate getting vaccinated, is an example of what economic concept?
The idea of individuals in society benefiting from the action of a third party, such as a classmate getting vaccinated, is an example of the economic concept of positive externality
In the field of economics, we can describe a positive externality as a condition in which a third person or party gets benefits when a certain product is being consumed or produced. The third party does not have anything to do with the business yet somehow benefits from it.
In the scenario above, the action of a student getting vaccinated also benefits the third party, i.e the other students, from catching a disease and hence is an example of a positive externality.
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A factory owner wants his workers to produce as many widgets as they can so he pays his workers based on how many widgets they produce. however, in order to make sure that the workers do not rush and produce a large number of poorly made widgets, he checks the widgets at random at various stages of their manufacture. If a defect is found in a widget, the pay of the entire section of the factory responsible for that defect is docked. How is this factory owner seeking to solve the agency conflict problem in this case?.
By paying his workers based on how many widgets they produce, the factory owner is seeking to solve the agency conflict problem by D. supplying incentives so the agents act in the way the principal desires.
The factory owner is using the tactic of supplying incentives so that the workers produce as many widgets as possible. In the case above, it can be seen that the factory owners need many widgets to be produced. Hence, in order to make his agents work best, he pays or gives them incentives on the basis of how many widgets they are producing.
Hence, in the case above, the factory owner is using the supplying incentives way so that the workers work on the principal desires to solve the agency conflict problem.
Although a part of your question is missing, you might be referring to this question:
A factory owner wants his workers to produce as many widgets as they can, so he pays his workers based on how many widgets they produce. However, in order to make sure that the workers do not rush and produce a large number of poorly made widgets, he checks the widgets at random at various stages of their manufacture. If a defect is found in a widget, the pay of the entire section of the factory responsible for that defect is docked. How is this factory owner seeking to solve the principal-agent problem in this case?
A. By making the agents into principals themselves
B. By ensuring that all workers cooperate to maximize the gains of their section
C. By maximizing the information that the principal obtains about the behavior of the agents
D. By supplying incentives so the agents act in the way the principal desires
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indicate which of the functions of money (a medium of exchange, a unit of account, and a store of value) each of the following performs in the u.s. economy. check all that apply. medium of exchange unit of account store of value british pound u.s. penny plastic credit card picasso painting given your answers to the previous task, indicate whether each of the following is considered money in the u.s. economy. money yes no british pound u.s. penny plastic credit card picasso painting
1. Medium of Exchange, Unit of Account, Store of Value
2. Store of Value
3. Store of Value
4. None of them
money is used as an intermediary in trade and has two groups of functions, namely:
a. original function
Money as a medium of exchange to make it easier for us to get an item. That way, we can save time and energy because we only need to exchange money to buy necessities. Money as a measuring tool is able to determine the value of an item. For example, the price of a ruler that Teddy will buy is $3,000, indicating that Teddy only paid $3,000 to get a ruler.
b. Derivative function
Money as a means of payment is different from money as a medium of exchange. The meaning here is when money is paid without being exchanged for any goods/services. For example, paying taxes. Money as a price indicator has different values, for example the price of 1 kg of oranges is $8,000 while the price of apples is $9,000. Money as a means of paying debts is used to pay off debts. Money as a means of hoarding wealth can be used when there is a sudden need.
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One of hope’s coworkers quits, and during the next pay period hope works 60 hours instead of 40 to help cover the shifts. Which of hope’s deductions will definitely change as a result?.
As one of Hope's coworkers quit and she works 20 hours more than his Fixed time, Hope's Federal tax deduction will definitely change as of her behaviour.
More about federal tax:
The federal government merely collects federal income taxes to cover its expenses. In order to afford for specific state expenses, state governments frequently collect state taxes. Income tax is frequently alluded to as a tax on income, which includes both inherited wealth (such as salaries, pay rates, tips, and commissions) and unearned income (such as dividends and interest).
In conclusion, both businesses and people may be subject to income taxes.
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quizlet in the best-efforts method of issuing stock, an underwriter promises to sell as much of the issue as possible, but does not guarantee to sell the entire amount.
Best efforts agreements exempt underwriters from having to buy any shares they are unable to sell. The underwriter is not required to guarantee that the full IPO issue will be sold in a best-efforts contract.
The promise a service provider makes to go above and above to fulfill a contract's criteria is referred to as "best efforts." In the financial industry, an underwriter promises an issuer that they will do their best efforts to sell as many of the securities they are providing as feasible. Even though the two parties agree to sell some securities, the underwriter doesn't promise to sell them all.
An underwriter's pledge to use their best efforts to sell as much of a securities offering as feasible is referred to as "best efforts."It is also a phrase used in generic service agreements in place of a concrete delivery commitment.In contrast, a firm commitment or bought transaction requires the underwriter to purchase all of the shares or debt and sell it all in order to break even.Learn more about best efforts here
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The complete question is
The best-efforts method of issuing stock, an underwriter promises to sell as much of the issue as possible, but does not guarantee to sell the entire amount.
classify each item as (1) an addition to the book balance, (2) a subtraction from the book balance, (3) an addition to the bank balance, or (4) a subtraction from the bank balance.
Classify each items
Outstanding checks, $670: a subtraction from the bank balanceDeposits in Transit, $1500 : an addition to the bank balanceNSF check from customer, #548 for $175 :subtraction from the book balanceBank collection of note receivable for $800, and interest of $80: an addition to the book balanceInterest earned on bank balance, $20: addition to the book balanceService charge, $10 : subtraction from the book balanceThe business credited Cash for $200. The correct amount was $2,000: subtraction from the book balance.The bank incorrectly decreased the business's by $350 for a check written by another business : an addition to the bank balance.What is bank reconciliation statement?A bank reconcilation statement is a statement that is used to reconcile the money a company has as cash with the money a company has in the bank.
An discrepancy in bank reconciliation as per cash and bank reconciliation as bank bank indicate that an error has occur which has to corrected based on the fact both bank and cash balance must have equal balance when preparing a bank reconciliation statament.
Therefore Outstanding checks is a deduction from the bank balance
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The complete question is:
The following items could appear on a bank reconciliation:Classify each item as (1) an addition to the book balance, (2) a subtraction from the book balance. () an addition to the bank balance, or (4) a subtraction from the bank balance.
a. Outstanding checks, $670. b. Deposits in transit, $1,500. NSF check from customer, no. 548, for $175. d. Bank collection of note receivable of $800, and interest of $80. Interest earned on bank balance, $20. f. Service charge, $10. g. The business credited Cash for $200. The correct amount was $2,000. h. The bank incorrectly decreased the business's by $350 for a check written by another business. e.
during meetings, stacy likes to challenge new ideas, even those that she agrees with, in order to make sure that her team has considered every angle. what role is stacy playing?
The role Stacy is playing during work meetings is devil's advocate.
What does the role of devil's advocate mean?It corresponds to a situation, usually occurring during a work meeting, where the individual demonstrates that he does not agree with the ideas proposed by the work team, in order to stimulate innovation and refinement of the central idea.
Therefore, playing devil's advocate in a meeting can be advantageous for a manager to be able to extract more details about an idea, new constructions and creativity from his team.
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under the approach, the employer need not actually control the work but must merely have the right or ability to control the work for a worker to be classified an employee.
[tex]\huge \mathbb{\blue{ANSWER }} \\ \\ \\ \rightarrow \sf\: under \: the \: \bf{common - law \: agency \: approach}[/tex]
allied made its first and only purchase of inventory for the period on may 3 for 1,000 units at a price of $8 cash per unit (for a total cost of $8,000).
The appropriate journal entries to record the transaction is: Debit Merchandise inventory $8,000 Credit Cash $8,000.
Journal entriesMay 03
Debit Merchandise inventory $8,000
Credit Cash $8,000
May 05
Debit Accounts receivable $6,000
Credit Sales $6,000
May 05
Debit Cost of goods sold $4,000
Credit Merchandise inventory $4,000
May 07
Debit Sales returns and allowances $600
Credit Accounts receivable $600
May 07
Debit Merchandise inventory $400
Credit Cost of goods sold $400
May 08
Debit Sales returns and allowances $200
Credit Accounts receivable $200
Therefore the entry is Dr Merchandise inventory $8,000 and Cr Cash $8,000.
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The complete question is:
May 3
Allied made its first and only purchase of inventory for the period on May 3 for 1,000 units at a price of $8 cash per unit (for a total cost of $8,000).
May 5
Allied sold 500 of the units in inventory for $12 per unit (invoice total: $6,000) to Macy Company under credit terms 2/10, n/60. The goods cost Allied $4,000.
May 7
Macy returns 50 units because they did not fit the customer’s needs (invoice amount: $600). Allied restores the units, which cost $400, to its inventory.
May 8
Macy discovers that 50 units are scuffed but are still of use and, therefore, keeps the units. Allied gives a price reduction (allowance) and credits Macy's accounts receivable for $200 to compensate for the damage.
Prepare the appropriate journal entries for Macy Company to record each of the May transactions. Macy is a retailer that uses the gross method and a perpetual inventory system; it purchases these units for resale. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
since east asia was essentially self-sufficient in all essential commodities, foreign trade primarily involved luxury goods such as chinese silk, porcelain, jade, and:
East Asia had a near-complete self-sufficiency in all vital commodities, and the bulk of its international trade was in luxury items like Chinese silk, porcelain, jade, as well as opium.
What exactly does the phrase "foreign trade" mean?Foreign trade is the transfer of products and services on the global market between two nations. It helps make raw materials and finished goods more accessible in nations where they are either scarce or unavailable.
What is international trade, and why is it crucial?Nations can expand their markets by acquiring commodities and services through international trade that would not otherwise be accessible domestically. Global commerce seems to have increased market competition. As a result, prices become more competitive and the consumer receives a less priced product.
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if real gdp increases in any year, we know that part 2 a. the output of goods and services produced this year has increased. b. inflation has raised the value of output. c. both inflation and output have increased. d. nominal gdp must have risen.
Any year with a rise in real GDP indicates that this year's output of goods and services has increased.
The market worth of all the finished goods and services that nations produce and sell in a certain time period is measured in dollars by their gross domestic product (GDP). This measurement is frequently reviewed before being regarded as a valid indicator due to its subjective and complicated character. For instance, if Country B produced 5 bananas per year, each value $1, and 5 backrubs per year, each worth $6, the GDP would be $35. The GDP of Country B would be $40 if banana prices rose to $2 the next year and production remained constant. a favor for a person. the act or process of providing goods or services that the general public demands or requires, such as gas, electricity, or water.
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a firm has total assets of $3,000,000 and stockholders equity is $1,000,000. what is the debt-to-total asset ratio? round to two decimal places. example .777
Debt to total assets ratio is 67%. It can be calculated by divide total debt by total assets.
The debt ratio can be defined as a solvency ratio that measures the company's total liabilities as a percentage of its total assets. In other words, it shows how many assets the company has to sell to pay off all of its liabilities. This ratio measures the financial leverage of a company. Companies with a higher level of liabilities compared to assets are considered to have high leverage and are riskier for lenders. This ratio also helps investors and creditors analyze the company's overall debt burden as well as the company's ability to repay debt in future, uncertain economic times.
Total assets = Total equity + Total debt
$3,000,000 = $1,000,000 + Total debt
Total debt = $2,000,000
Debt to assets= total debt / total assets = 2,000,000/ 3,000,000 = 0.67
% debt to assets = 0,67. 100% = 67%
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Capturing information directly from the source through such systems as point-of-sale, radio-frequency identification tags, bar-code scanners, and automatic recognition has had little impact on operations and supply chain management. True or false?.
False, Capturing information directly from the source through such systems as point-of-sale, radio-frequency identification tags, bar-code scanners, and automatic recognition has had a huge impact on operations and supply chain management.
Technological advancement in the world today has brought about tremendous growth in all sectors. Data is processed swiftly, results are generated almost immediately and decisions are made quicker. The integration of these devices and services has shifted the focus to understanding both what all the information is saying and also how good are the decisions that can be made using it.
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Suppose the real risk-free rate is 3. 50% and the future rate of inflation is expected to be constant at 4. 60%. What rate of return would you expect on a 1-year treasury security, assuming the pure expectations theory is valid? disregard cross-product terms, i. E. , if averaging is required, use the arithmetic average.
Answer:
Assuming the pure expectations theory, the rate of return is 8.10%
Explanation:
Real Risk free rate.=3.50%
Future rate of Inflation=4.60%
Rate of return on 1 year Treasury security.=Real risk free rate+ Future rate of inflation
= 3.50% + 4.60% = 8.10%
Assuming the pure expectations theory, the rate of return is 8.10%
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Mark is a famous syndicated radio personality for talkradio. He has a distinctive voice and manner of speaking. Moretalk hires gordon, who sounds nearly identical to mark, to host a competing show. Moretalk encourages gordon to imitate mark as closely as possible while on the air. Moretalk is most likely to be liable for?.
By encouraging Gordon to imitate mark as closely as possible while on air, Moretalk is most likely to be liable for appropriation.
What is appropriation?
Appropriation takes place when an individual uses someone else's name, characters, trademarks, or likeness for commercial purposes without the someone else's permission. Appropriation is one of several acts liable by a court of law falling under the category of invasion of privacy.
In the given scenario, Moretalk encourages her employees to mimic the characteristics that is possessed by its competitors in order to obtain financial gain. This make them liable for appropriation.
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Aat which stage in the typical buying process is the customer aware of a need and has evaluated one or more solutions with the resolve to do something, but may have obstacles or concerns to contend with?.
Information search is the stage in the purchase process when the consumer realizes a need and becomes determined to take action but may face challenges or worries.
Customers go through a series of actions in order to purchase a product. The buying process consists of steps that a consumer performs when deciding what to buy. In a typical consumer transaction, necessities and wants are acknowledged. The information search comes next followed by an analysis of all the options. Finally, the transaction is completed and an evaluation is conducted afterward.
The Information search stage starts when the consumer becomes conscious of his need or desire. He seeks more information about the solution to his dilemma and starts looking for the best available options for solving this issue. A consumer may research products by looking at commercials, print materials, videos, websites and even by asking his friends and relatives.
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Isaiah has the opportunity to participate in a work-study program at college. If he participates, how might this benefit him?
He can earn college credit for each hour that he works.
He will get the chance to meet with experts who work in his chosen career field.
He will have the ability to study while at his job on campus.
He will work a part-time job on campus to help pay for his tuition.
Answer :He can earn college credit for each hour that he works.
Explanation:
It would help him because he wouldn't have to pay for the credits
classify the scenarios according to whether or not they describe a negative externality. a. a donut shop emits a delicious smell into the air as a by-product of production. b. a neighbor plays loud music that annoys the surrounding community. c. a person with no allergies gets a mosquito bite from a disease-free mosquito. d. a person gets a flu shot and is therefore less likely to spread illness to others. e. a factory emits pollution into the atmosphere as a by-product of production.
A donut shop emits a delicious smell into the air as a by-product of production - Not Negative externality.
A neighbor plays loud music that annoys the surrounding community - Negative externality.
A person with no allergies gets a mosquito bite from a disease-free mosquito - Not Negative externality.
A person gets a flu shot and is therefore less likely to spread illness to others - Not Negative externality.
A factory emits pollution into the atmosphere as a by-product of production - Negative externality.
What is a Negative externality?Basically, a negative externality refers to the situation that exists when the production or consumption of a product results in a cost to a third party. A good example of negative externalities are air & noise pollution.
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Dog food manufacturers, such as ralston purina, also have begun offering super-premium foods based on "life-stage nutrition. " the marketing strategy ralston purina is using is called.
Ralston Purina offering super-premium foods based on "life-stage nutrition, so the strategy that Ralston Purina used is trading up strategy.
Trading up strategy can be defined as a strategy that adding a higher-priced, higher-quality version of a product to the range, generally to increase sales of the lower-priced model through consumer association of its image with the more prestigious model.
The example of trading up strategy is when a seller sell a starter version of software, but seller have just released a new professional version, with higher-quality features. And the seller's consumers choose to upgrade to the new version of your product, they're "trading up"
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the current zero-coupon yield curve for risk-free bonds is as follows: maturity (years) 1 2 3 4 5 ytm 4.98% 5.47% 5.74% 5.93% 6.09% what is the price per $100 face value of a two-year, zero-coupon, risk-free bond? question content area bottom part 1 the price per $100 face value of the two-year, zero-coupon, risk-free bond is $enter your response here
Recall the 1.5-year, 8.5%-coupon bond.
• Using the zero rates 5.54%, 5.45%, and 5.47%, the
bond price is 1.043066 per dollar par value.
• That implies a yield of 5.4704%:
In finance, a discount is the hobby payment received through a bondholder from the date of issuance till the date of adulthood of a bond. Coupons are generally defined in phrases of the "coupon rate", which is calculated by including the sum of coupons paid according to year and dividing it by using the bond's face cost. As instance, if a bond has a face cost of $1,000 and a discount charge of 5%, then it can pay general coupons of $50 in keeping with year. Normally, this can include semi-annual payments of $25 every. The origin of the time period "coupon" is that bonds have been historically issued inside the form of bearer certificates. Physical ownership of the certificate changed into (deemed) proof of possession. Several coupons, one for every scheduled hobby payment, had been printed on the certificate. At the date the coupon changed into due.
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Select the correct answer.
which was the first home entertainment technology to disrupt the movie industry?
A. radios
B.cable television
c.livestreaming
D. video cassette recorders
cable television
Cable television was the first home entertainment technology to disrupt the movie industry.
Why did cable television disrupt movie industry?During the first three decades of network television in America, the television business saw a remarkable amount of stability. Once the foundation of the television industry had been laid, the seasons of television glided by with a cozy familiarity. The 1980s saw a new wave of media industry consolidation and the explosive rise of cable television and home video, which upset the balance of power in the television business and resulted in a total integration of Hollywood studios and television networks.Community antenna television (CATV), a solution to reception issues in geographically remote areas where residents had trouble receiving television signals with a household antenna, gave rise to cable television in the 1940s and 1950s.
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due to budgetary restraints, departmental charge cards will no longer be valid for purchasing supplies. departments will now order all supplies through central purchasing in accounting. the new procedure for ordering supplies will be effective march 1. improved company intranet functionality will make this process easy and effective. the electronic supply request form can be found on the intranet in the "orders" folder. supply requests submitted via the intranet will be processed within 24 hours. indirect semi-indirect direct
Semi-indirect messaging strategy has been used in this paragraph to communicate the message in business writing.
There are three approaches to communicating with an audience in business writing: direct strategy, indirect strategy, and semi-indirect strategy. The intent or summary of the message is placed first in the direct strategy, accompanied by the specifics of that idea. By using indirect strategy, on the other hand, entails beginning the message with details and ending with the core theme. When the central concept of the text is given in the center of the speech and is enclosed by specifics at the beginning and end, the semi-indirect messaging strategy is used.
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How can you best influence a customer positively? a. by talking in a hurried manner b. by answering customer queries briefly c. by keeping the personal details of a prospective buyer confidential d. by wearing casual attire
Best influence a customer positively by keeping the personal details of a prospective buyer confidential.
Hurried speech is not a smart choice if you want to positively impact a customer because it is uncomfortable for everyone.
Briefly responding to the questions could also not be a smart idea because the customer might get the impression that you don't want to take the time to address their concerns.
Wearing casual clothing could be viewed as "unprofessional" by others, therefore this argument could also be disregarded.
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a person has $3000 to deposit in a financial institution. assuming all options were offered by the same institution, which account is likely to pay the highest interest rate?
If a person has $3000 to deposit in a financial institution. assuming all options were offered by the same institution, The account that is likely to pay the highest interest rate is : Certificate of deposit.
What is certificate of deposit account?Certificate of deposit account can be defined as the account that enables an account holder to save a fixed amount of money and this fixed amount of money must be held in the account for a specific period of time.
Certificate of deposit is an account that pays the highest interest rate compare to savings account.
Therefore we can conclude that certificate of deposit account offers a high interest rate.
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explain how an average cost curve is affected by a change in the underlying fixed costs of production and compare the impact to how a marginal cost curve is affected by a change in the underlying fixed cost.
Similar to any other marginal-average relationship, there is one between marginal cost and average cost. Average cost rises when marginal cost is higher than average cost.
Other insights may also be based on how total costs are divided into fixed and variable costs. The following table's first five columns are identical to those in the previous table, but its marginal cost and average cost last three columns display the average total costs, average variable costs, and average marginal costs.
A per-unit presentation of the data on total costs, fixed costs, and variable costs is also an option. Entire marginal cost and average cost is multiplied by the total quantity generated to determine average total cost (ATC). Usually, the average total cost curve is U-shaped. Calculating average variable cost (AVC) involves dividing variable cost by quantity produced.
By dividing the difference in output by the total cost between two levels of output, marginal cost (MC) is determined.
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the attempt by managers to estimate the qualifications and the number of employees an organization will need, given its goals and strategies, is the process of
The process of demand forecasting involves managers making an attempt to predict the skills and the quantity of workers a business will require, given its goals and strategy.
When hiring managers employ a list of preset questions for each candidate for a certain job, this is referred to as a?A structured interview is a method of interviewing job applicants that is standardized and based on the requirements of the position for which they are applying. Candidates are compared on the same scale and asked the same questions in the same order. credit card . Over 250 million candidates should be reached.
What kind of performance evaluation is based on a manager's perceptions of the characteristics, actions, and outcomes that an employee produces?A subjective appraisal is a manager's assessment of a subordinate based on that manager's opinions of the traits, actions, and outcomes that subordinate created.
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on march 12, klein company sold merchandise in the amount of $10,600 to babson company, with credit terms of 2/10, n/30. the cost of the items sold is $5,900. klein uses the perpetual inventory system and the net method of accounting for sales. on march 15, babson returns some of the merchandise, which is not defective. the selling price of the returned merchandise is $880 and the cost of the merchandise returned is $490. the entry or entries that klein must make on march 15 is (are):
The journal entry are as follows:
To Accounts Receivable $840 To Cost of Goods Sold A/c $47What Exactly Is an Accounting Journal Entry?The date, the amount to be credited as well as debited, a brief description of the transaction, and the accounts involved are all included in each journal entry along with other information pertinent to a single business transaction. Depending on the business, it could include a list of the impacted subsidiaries, tax information, and other details.
What are a ledger and a journal entry?A ledger is a main book of accounts used to organize the transactions entered in a journal. Order. On the day of the transaction, the journal entries are entered in reverse chronological order.
According to the given data:Merchandise sold = $10,200
Cost of goods sold = $5,700
Selling price of the returned merchandise = $840
Cost of the merchandise returned = $470
The journal entry are as follows:
On March 15,
(i) Sales Returns and Allowances A/c Dr. $840
To Accounts Receivable $840
(To record the sales returned)
(ii) Inventory A/c Dr. $470
To Cost of Goods Sold A/c $47
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star inc. licenses use of its intellectual property to customers. the benefit the customer receives from the license is not affected by star's ongoing activity. star should recognize revenue:
Star Inc. licenses use of its intellectual property to customers. The benefit the customer receives from the license is not affected by Star's ongoing activity. Star should recognize revenue at the beginning of the license period.
What does revenue mean?
Revenue is the total amount of income generated by the sale of goods or services related to the company's primary operations. Revenue, also known as gross sales, is often referred to as the "top line" because it sits at the top of the income statement.
What is revenue in a business?
Your annual revenue is the amount of money your company earns from sales over a year; it does not include costs and expenses. To calculate your annual revenue, you multiply the quantity of each product you sold by its sale price, and then add each product's annual sales to determine your gross annual revenue.
Is revenue same as profit?
Revenue and profit are both good signs for your business, but they're not interchangeable terms. Both represent an important way to understand your business. Revenue describes income generated through business operations, while profit describes net income after deducting expenses from earnings.
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