An in-depth understanding of ethics is important to the long-term viability of business because unethical decisions will negatively and directly impact all of the following except "the business's number of products".
Answer: Option D
Explanation:
Business growth is immensely dependent upon the ethics followed by business owner, employees and other staff. Business need sufficient trust among business partners, employees, staff, executive, suppliers and customers.
A single unethical decision can act as a weapon to spread negativity which have direct impact on customers, suppliers and image of business in market but not in number of products manufactured by a firm. All kind of business may phase ups and down, its a cycle but maintaining ethics in decision making should remain same otherwise the cycle may get stuck into down phase for long time.
Which of these are goals of an expansionary policy? Check all that apply. a. increased available credit b. decreased available credit c. increased money supply d. increased inflation e. increased interest rates f. decreased interest rates
Answer:
a. increased available credit
c. increased money supply
f. decreased interest rates
Explanation:
Expansionary policy is a policy pursued by either the government or the monetary authority to stimulate aggregate demand in the economy. This can be achieved through the use of either the fiscal policy tool by the government or the monetary policy tool by the Federal Reserve.
The policy target of expansionary policy are any of the economic goals of the government, such as economic growth, control of inflation, favorable balance of payment, e.t.c.
The three goals of expansionary policy includes increased available credit, increased money supply and decreased interest rates.
Expansionary policy is an economic policy used by the government or monetary authority to stimulate the aggregate demand in the economy.
The purpose of Expansionary policy is achieved through use of fiscal policy by government or monetary policy by Federal Reserve.
The economic goals of use of the Expansionary policy includes to achieve economic growth, to control inflation, to achieve favorable balance of payment e.t.c.
Therefore, in the question, the goals of the expansionary policy includes increased available credit, increased money supply and decreased interest rates.
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The Occupational Safety and Health Act (OSHA) mandated that first-aid kits be available in business establishments employing more than three people. A newly formed company was successful in developing first-aid kits that allowed companies to comply with the standards of the act. This is an example of: Select one: a. distribution channels as an excellent source for new ideas. b. existing products and services as a source for new ideas. c. potential consumers as a source for new ideas. d. government regulations as a source for new product ideas.
Answer:
The correct answer is D
Explanation:
OSHA stands for Occupational Safety and Health Act, which is passed in order to encourage the safer workplace conditions in the U.S. They set the standards as well as perform the inspections at the job sites.
OSHA made mandatary the first aid kits to be available in the business who are employing more than 3 years people. So, this newly formed company was successful in developing the kits, this is example of the government regulations as a source for the ideas of the new products.
Moral theorizing essentially involves
a. trying to decide what is right or wrong on a case-by-case basis.
b. trying to come up with general moral principles that apply to many different cases.
c. consulting the relevant laws and the Constitution.
d. trying to explain what causes people to make the moral judgments they do.
trying to come up with general moral principles that apply to many different cases.
Moral theorizing essentially involves trying to come up with general moral principles that apply to many different cases. Option B is the correct answer.
Moral theorizing involves the process of developing general moral principles that can be applied to various situations. These principles serve as ethical guidelines to help individuals make consistent and informed decisions. Option B is the correct answer.
Moral theorizing is a philosophical endeavor that aims to explore and understand the nature of morality and ethical decision-making. It goes beyond individual cases and seeks to establish overarching principles that can be universally applied. By formulating general moral principles, moral theorists aim to provide a framework that guides ethical behavior across different contexts. These general moral principles are designed to address a wide range of moral dilemmas and ensure consistency in moral judgments. They often focus on fundamental values and principles such as fairness, justice, human rights, and respect for autonomy.
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How do bank loans help the nation’s economy? A. They ensure consumer spending and confidence.B. They ensure the success of new businesses. C. They allow businesses to expand and improve. D. They allow consumers to quickly pay off debts.
Answer:
C. They allow businesses to expand and improve.
Explanation:
The bank is a financial intermediary that makes money and financial instruments received from individuals and institutions with surplus available to individuals and institutions with deficit. This is usually at a cost to such individuals and institutions.
The bank makes loans available to business who may want to expand but lack the funds required to finance such expansion. This is of key benefit to the economy.
A bank loans can impact positively on a nation’s economy because they allow businesses to expand and improve.
What is the loan bank function?One of the function of bank is to give loan to people at interest from the depositors money with them.
The bank makes loans available to business who may want to expand but lack the funds required to finance such expansion.
Also, this allows entrepreneur to flourish and impact the economy positively in GDP and employment rate.
Therefore, the Option C is correct
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Zync Corporation offers a block of its securities for sale to the investment banker that submits the highest price of all interested investment bankers. This procedure is known as a _____.
a. competitive bid
b. financial intermediation
c. negotiated deal
d. shelf registration
e. dual listing
Answer:
A. competitive bid
Explanation:
Competitive bid -
It is a type of bid , which is basically linked to the price and the proposal by the service provider to the firm , for any type of business , is referred to as a competitive bid.
It can be associated with many other business deals.
Hence , from the question ,
The correct option is A. competitive bid .
Urfa, like much of southeast Turkey, has an economy based primarily on what economic activity?
Answer: AGRICULTURE,others include INDUSTRY(Cotton) and TOURISM.
Explanation:Urfa,also called Sanliurfa is an ancient region in Turkey people call it birth place of Agriculture,it is located about eighty(80) east of the Euphrates River. Urfa has a strong relationship with the old testament,it's population are pre-dorminantly Muslims. The major trade of the people of Urfa is Agriculture,others includes Cotton industry and tourism. Sanlıurfa accounted for about 43.3% of Turkey's cotton plantations and 40.5% of its production in 2016. Urfa has ancient history buildings and other natural endowment used for tourism.
__________Issued by money-centered financial firms, these short- or medium-term insured debt instruments pay higher interest than a regular savings account. They are low-risk instruments and have low returns.
Answer:
Certificate of Deposits.
Explanation:
Certificate of Deposits (CDs) as defined in the question, are time based deposits that are usually issued by banks, credit unions and other money-centered financial firms.
Because it is time based, the CDs are short to medium term and they pay higher interests than the regular saving accounts. Also CDs have low returns and low risk involved.
CDs can be done by individuals by simply walking into his/her bank and pledging to have a certain amount saved for a certain period of time. The bank then pledges to pay you more interest than you would normally get on a regular savings account and a document to that effect is written signed by both parties.
CDs are insured federally and as such returns are sure.
Cheers.
A client arrives at the emergency department experiencing tingling and weakness in the lower extremities that started when getting out of bed. The client reports the symptoms seem to be progressing upward. Which statement by the client is most important for the nurse to pursue during the assessment process?1. "My grandfather had polio when he was young."2. "I have been a vegetarian for several months now."3. "Things have been stressful at work lately."4. "We have been in the final preparations for a trip overseas."
Answer:
4. We have been in the final preparation for a trip overseas- CORRECT
Explanation:
The information or statement that should be taken as most important will depend on relatedness, severity and possible degeneration.
Option 4 is correct because immunizations are usually given when preparing for oversea trips and the danger is that immunizations are possible triggers of the onset of the neurological symptoms of Guillain Barre syndrome.
A critical issue is that this requires further investigation because, the symptoms of the syndrome can rapidly progress. Furthermore, since it is progressing upward (which is not usually the case), it becomes an emergency case that should be treated urgently.
The greatest concern of the nurse should be to prevent respiratory compromise that may result from muscle weakness of the respiratory system
Note: Guillain Barre syndrome represents autoimmune disease that will usually affect areas such as swallowing, speech, facial expression and respiration.
What is the most recent publication of property and casualty Insurance License Exam Cram by Bisys Educational Services?
Answer and explanation:
The most recent publication of the "Property and Casualty Insurance License Exam Cram" by Bisys Educational Services was on November 12th, 2004. The book is a guide for people interested in property and casualty insurance so they can have an idea of how the exam to get their license is going to be. The book provides concepts, laws, and state regulations that could be considered for the test.
"The most recent publication of ""Property and Casualty Insurance License Exam Cram"" by Bisys Educational Services is the 6th Edition, which was published in 2017.
To determine the most recent edition of the ""Property and Casualty Insurance License Exam Cram"" by Bisys Educational Services, one would typically check the latest offerings from the publisher or look for the most recent publication date available in bookstores, libraries, or online databases.
As of the knowledge cutoff date in 2023, the 6th Edition, released in 2017, is known to be the latest edition. It is always recommended to verify with the publisher or a reliable bookseller for the most current edition, as newer versions may have been released after the knowledge cutoff date."
Assume that Eric Duffy and Johnnie Gladwin operate a partnership. Their partnership agreement states that E. Duffy receives two–thirds of the partnership income or loss and J. Gladwin receives the remaining one–third. The partnership's income statement reported net income of $90,000 for the year ending December 31. Prepare the December 31 journal entry that would be required to close the Income Summary account and allocate the net income to the two partners.
Answer:
Dr Income Summary account 90,000
Cr Capital account, E. Duffy 60,000
Cr Capital account, J. Gladwin 30,000
Explanation:
The income summary account has a credit balance, and in order to close it we must debit it against capital accounts.
Since Duffy was entitled to 2/3 of the profits, then he should receive $60,000, and the remaining $30,000 would go to Gladwin.
A bank sent out questionnaires to a simple random sample of customers asking whether they would like the bank to extend its hours. Eighty percent of those returning the questionnaire said they would like the bank to extend its hours. Of the questionnaires, were returned.
Answer:
This is an example of non-response bias.
Explanation:
Non-response bias happens when potential participants of a study refuse to do so.
The bank carried out a voluntary response survey which is generally not very reliable since only those that have a strong opinion about the issue are likely to respond and participate in the survey. Those who really didn't care very much about the banking hours just didn't respond to the survey. That explains why such a high percentage of participants (80%) responded that they would like the bank to extend its working hours.
Economic forces impact the opportunities available to entrepreneurs. Which of the following alternatives reflects a set of economic forces that would be of interest to entrepreneurs?1. Level of disposable income, new uses of old technologies, and new laws and regulations2. New technologies, consumer spending patterns, and new laws3. Interest rates, consumer spending patterns, and level of disposable income4. Social and cultural trends, level of interest rates, and what people think is "in"5. New changes in political areas, new laws, and level of disposable income
Answer:
3. Interest rates, consumer spending patterns, and level of disposable income
Explanation:
The following alternatives reflects a set of economic forces that would be of interest to entrepreneurs: Interest rates, consumer spending patterns, and level of disposable income
1. Interest Rates: Whenever there is an increase in interest rates, entrepreneurs are required to set aside more funds for the repayment of loans in the sense that the interest component becomes more expensive and looking at the total picture, the loan becomes technically bigger than what they had collected. This occurrence of higher interest rates reduces the business' net income for all periods till the loan is fully paid.
2. Consumer spending patterns: Consumer spending patterns are a very important tool or dataset for businesses which can be used to understand market potential. It reveals customers who are likely to buy certain categories of goods and services and where they are geographically located. Without this information businesses could be located in the wrong places or could target the wrong customers
3. Level of disposable income: Disposable income refers to the amount of income left after taxes are paid. This metrics is important for businesses because that is the fraction of earnings that consumers spend on to buy goods and services.The higher the disposable income, the higher the demand for firms products will be.
The interest rates, consumer spending patterns, and level of disposable income are the economic forces that would be of interest to entrepreneurs.
Interest rates, consumer spending patterns, and level of disposable income are the economic forces that would be of interest to entrepreneurs. If there is an increase in interest rates, entrepreneurs are required to give more funds for the repayment of loans which adversely affected the output of the trade.
Consumer spending patterns are a very important tool for businesses which can be used to understand market potential. This gives information to the entrepreneurs about the choice of goods and products of people.
Disposable income refers to the amount of income after taxes are paid. This aspect is important for businesses because that part of earnings used by consumers spend on to buy goods and services so we can conclude that interest rates, consumer spending patterns, and level of disposable income are the economic forces that would be of interest to entrepreneurs.
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If a balance exists in the temporary MOH account at the end of the period, it can be ignored for purposes of preparing the company’s financial statements.
A) True
B) False
Answer:
FALSE
Explanation:
If a balance exists in the temporary Manufacturing Overhead account at the end of the period, it cannot be ignored for purposes of preparing the company’s financial statements.
The balance in the manufacturing overhead account must be included in the cost of sales which is a line item in the income statement of the company. If the balance that exists in the manufacturing overhead account is ignored in the financial statements, it means that the income statement for that period of reporting has been misstated; also the overheads figure not being adequately captured will misstate the expenses and (by extension) Income figures for the period.
The statement is false, the balance in the MOH account should be allocated to the appropriate cost of goods sold and inventory accounts.
Explanation:The statement 'If a balance exists in the temporary MOH account at the end of the period, it can be ignored for purposes of preparing the company’s financial statements' is false.
The temporary MOH account refers to the Manufacturing Overhead account, which is used to accumulate indirect manufacturing costs. At the end of the accounting period, the balance in the MOH account should be allocated to the appropriate cost of goods sold and inventory accounts.
Ignoring the balance in the MOH account would result in misstated financial statements and inaccurate representation of the actual manufacturing costs.
A company has the following accrual-basis balances at the end of its first year of operation: Un-earned consulting fees $ 2,000, Consulting fees receivable 3,500, Consulting fee revenue 25,000. The company’s cash-basis consulting revenue is what amount?
A. $30,500.
B. $19,500.
C. $26,500.
D. $23,500.
Answer:
D. $23,500.
Explanation:
Company’s cash-basis consulting revenue
= Consulting fee revenue - Consulting fees receivable + Unearned consulting fees
= $25,000 - $3,500 + $2,000
= $23,500
Therefore, The company’s cash-basis consulting revenue is $23,500.
BC Corporation had sales of $1,000,000 and costs of goods sold of $450,000 for the year. Inventory at year end was $180,000. What is the inventory turnover?
Answer: The inventory turnover is 2.5
Explanation: Inventory turnover is calculated by dividing the cost of goods sold by the average inventory. It indicates how many times a company sells and restocks its stock of goods during a period.
Therefore, $450,000/ $180,000 = 2.5
Answer:
5.56 times (using sales as numerator), or 2.5 times (using cost of goods sold as numerator)
Explanation:
[tex]Inventory Turnover = \frac{sales}{Average Inventory}[/tex]
Average Inventory = (Opening Inventory + Closing Inventory)/2
However, since opening inventory was not given, we can derive it from the Cost of Goods Sold (COGS) formula
COGS = Opening Inventory + Purchases - Closing Inventory.
But, we do not have any figure for purchases, and as such, cannot compute opening inventory.
The proxy for Average Inventory will therefore be Closing inventory.
Thus,
[tex]Inventory Turnover = \frac{1,000,000}{180,000} = 5.56.[/tex]
Sometimes, Cost of goods sold is also used instead of sales in computing inventory turnover,
In that case, inventory turnover will be
[tex]\frac{COGS}{average inventory} = \frac{450,000}{180,000} = 2.5 times.[/tex]
Identify the type of planning used to develop multiple-year plans based on a situational analysis, competitive assessments, and external factors of the organization.
Answer:
Strategic Planning
Explanation:
Strategic planning are used to develop multiple year plan, and are usually generated by senior level managers based on a situational analysis, competitive assessments, and external factors of the organization.
Muldoon Advertising has an opening balance in its supplies account of $2,400 and purchases $3,000 of supplies during the year. A year-end physical count shows $2800 in supplies inventory. Which is the appropriate journal entry at year end?
A) Dr Supplies Expense $2,600
Cr Supplies $ 2,600
B) Dr Supplies Expense $2,800
Cr Supplies $ 2,800
C) Dr Supplies $2,600
Cr Supplies Expense $ 2,600
D) Dr Supplies $3,000
Cr Cash $3,000
Answer:
A) Dr Supplies Expense $2,600
Cr Supplies $ 2,600
Explanation:
The supplies account had an opening balance of $ 2400. Purchases were made of $ 3000 so the total debit balance was $ 5400. The year end showed a debit balance of $ 2800.
So $ 5400- $ 2800= $ 2600 Supplies were used and credited .
An expense account would be used to show this so
Supplies Expense is debited with $ 2600 and
Supplies Account is credited with $ 2600 showing a net debit balance of $ 2800 at the end of the year.
Controlling the flow of information is important, because people tend to learn better when a little bit of new information is presented to them at a time.True/false
Answer:
True
Explanation:
Controlling the flow of information is important since too much flow of information eventually leads to more loss of information and distortion of facts as less is grasped, comprehended and retained.
It is essential to control and regulate the flow of information as excessive flow of information also results into confusion and the intended meaning gets lost.
So it is recommended to learn by being exposed to little bit of new information at a time rather than huge quantity of information whose comprehension and retention both would be difficult.
Which of the following are acceptable formats for reporting comprehensive income?
I. In one continuous financial statement
II. In a statement of changes in equity
III. In a separate statement of net income
IV. In two separate but consecutive financial statements
Final answer:
Comprehensive income can be reported either in one continuous financial statement combining the income statement and comprehensive income, or in two separate but consecutive financial statements. The statement of changes in equity is not a format for comprehensive income, and a separate statement of net income does not represent it fully.
Explanation:
The acceptable formats for reporting comprehensive income are:
In one continuous financial statement, which combines the income statement and comprehensive income.
In two separate but consecutive financial statements, where the first is the income statement, followed by a statement of comprehensive income which starts with net income.
Option II, 'in a statement of changes in equity,' is not a format for the comprehensive income statement itself but can include the information. Option III, 'in a separate statement of net income,' is incorrect because while the statement of net income is part of comprehensive income, it does not represent the comprehensive income in its entirety.
Final answer:
Comprehensive income can be reported either in one continuous financial statement or across two separate but consecutive financial statements; options I and IV. The statement of changes in equity and a separate statement of net income don't include comprehensive income reporting.
Explanation:
Acceptable formats for reporting comprehensive income include:
In one continuous financial statement, which may be referred to as a Statement of Comprehensive Income. This report combines both net income and other comprehensive income into one cohesive document.In two separate but consecutive financial statements. This involves presenting the traditional income statement first to show net income, followed immediately by a second statement that begins with net income and displays the components of other comprehensive income.The statement of changes in equity and a separate statement of net income are not used to report comprehensive income. The statement of changes in equity is more concerned with the changes in equity throughout the period, while a separate statement of net income only portrays net income and does not include the other comprehensive income items required to present comprehensive income fully.
The comprehensive income can be understood as the total change in equity for a period that is not caused by transactions with owners. This includes all revenues, expenses, gains, and losses that affect an entity's equity during that period, which are not the result of dividend distributions or equity capital transactions, such as the issue or buyback of shares.
How can a country gain from specialization and trade? A. A country can specialize in producing that for which it has an absolute advantage and then trade for other needed goods and services. B. A country can specialize by using all available resources to produce goods and services to avoid trading with other countries. C. A country can specialize in producing that for which it has a comparative advantage and then trade for other needed goods and services. D. A country can specialize by using all available resources to invest in capital goods to promote economic growth. E. A country can specialize in producing that which is most scarce and then trade for other needed goods and services
Answer:
C. A country can specialize in producing that for which it has a comparative advantage and then trade for other needed goods and services.
Explanation:
Comparative advantage is simply evaluating the opportunity cost of other benefits or costs, if the country is opting to choose for a specific category of goods for production purposes.
For example, let's say US can produce 20 Television (TV) sets and 50 Air Conditioners in a month. Here, the opportunity cost of producing 1 TV set is 50/20 i.e. 2.5 Air Conditioners. Similarly, the opportunity cost of producing 1 Air Conditioner (AC) is 20/50 i.e. 0.4 TV set. Hence, US should produce Air Conditioners over TV sets as per Comparative Advantage concept.
Take another example, let's say UK can produce 50 Television (TV) sets and 20 Air Conditioners in a month. Hence, the opportunity cost of producing 1 TV set is 20/50 i.e. 0.4 Air Conditioner. On the other hand, the opportunity cost of producing 1 AC is 50/20 i.e. 2.5 TV sets. Thus, UK should produce TV sets over AC's as per Comparative Advantage model.
Hence, US should export AC's to UK and import TV sets from UK to gain from specialization and trade.
In this way nations can gain from specialization and trade by making use of Comparative Advantage theory.
It is to be noted that Absolute Advantage model of Adam Smith is also good as it highlights production of that good by a country, which it can produce in large quantities with fewer resources and minimal time than any other nation in the world. But the Comparative Advantage Model developed by David Ricardo considers opportunity cost and is much more refined than Absolute Advantage Model.
Specialization and trade allow a country to focus on producing what it does best and then trade for other needed goods and services. Option C is correct.
Explanation:The correct answer is C. A country can specialize in producing that for which it has a comparative advantage and then trade for other needed goods and services.
Specialization refers to the concentration of a country's resources and efforts on producing a particular good or service in which it has a comparative advantage. Comparative advantage is when a country can produce a good or service at a lower opportunity cost than its trading partners.
By specializing in what it does best, a country can increase its efficiency and productivity, leading to economic growth. Trade allows countries to exchange their specialized goods or services with other countries, resulting in access to a greater variety of products, lower prices, and increased overall welfare.
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Gina was recently At Panther Lighting Fixtures, employees were asked how the quality of the company's customer service could best be measured, and management then implemented a survey system based on the feedback. The company has overcome which of the following barriers to success of control systems
Answer:
To little employee participation
Explanation:
This a system of organization where the management hardly involves the the general employees in strategy formulation and it has a negative effect on the growth pace of the organisation because it reduces communication between management and employees.
Mackenzie has been an integral part of the feature film being shot in New Zealand, which tells the story of a king from ancient times and his armies. Her role in the film has included lining up the financing, story developers, script writers, and the major stars. What is most likely Mackenzie's role in this film?
Answer:
Producer
Explanation:
Based on the information provided within the question it can be said that the most likely Mackenzie's role in this film is that of a Producer. This is because a Producer of a play or film is the individual who gather's the finances necessary for the production as well as seeking out, preparing, and supervising the story developers, script writers, and the major stars. Such as Mackenzie is doing in this scenario.
A new mall will be constructed in a large city. Why are business owners most likely viewing a topography map before construction? a. to find flat areas of land for building b. to identify key landforms in the area c. to calculate an area’s contour interval d. to locate steep slopes for road construction
Answer:
A) to find flat areas of land for building
Explanation:
Topography maps show the elevation of the terrain and how flat a terrain is. Malls are usually very large buildings that occupy a large piece of land, and terrains with varying altitude increase the building costs of any type of structure.
If someone wants to build a large mall (that includes many parking spaces), they must look for some lot that is flat or can be flatten out easily.
Explanation: The answer is a.
Use the compound interest formula for compounding more than once a year to determine the accumulated balance after the stated period. $1200 deposit at an APR of 4% with quarterly compounding for 2 years.
Answer:
1299.43
Explanation: {'=raise to the power}
A= P(1+r/n) 'nt
A= final amount, P = principal amount, r= rate of interest per time, n =no of time periods, t = no of times interest compounds in a time period.
In this case: A= ? , P= 1200, t= year, n= no of years i.e 2, t = compounding in a year i.e 4 times (quarterly), r = APR 4%.
A= 1200 (1+ 0.04/4) '(2x4)
= 1200 (1+ 0.01) '(2x4)
= 1200 (1.01) '8
= 1200 (1.083)
= 1299.43
Sugar Corporation wishes to purchase all of Spice Corporation's bakery equipment. Sugar Corporation does not have to:_______.
a. ensure that it has adequate funding for the purchase.
b. form a purchase contract with Spice Corporation.
c. obtain the approval of its board of directors.
d. obtain share-holder approval for the purchase.
Sugar Corporation does not have to obtain share holder approval for the purchase.
Explanation:
Share-holders elect the board of directors for management purposes which includes looking over the purchase of equipments. Since, Sugar Corporation wishes to purchase all of Spice Corporation's bakery equipment, the approval of board of directors of sugar corporation is enough to carry out the purchase. Also, ensuring existence of adequate funding for the purchase and formation of contract with spice coporation is also an important requirement. The share holders are involved in cases like mergery i.e merging of two or more companies to form one so in this case share holder approval is not required.
Final answer:
Sugar Corporation is typically required to ensure proper funding, form a purchase contract, and obtain board approval when purchasing Spice Corporation's bakery equipment. Shareholder approval is not always necessary unless required by company bylaws or if the transaction size is significant.
Explanation:
When Sugar Corporation wishes to purchase all of Spice Corporation's bakery equipment, several steps have to be taken to ensure the legality and success of the transaction. However, one step that may not be strictly necessary is obtaining shareholder approval for the purchase unless the purchase is so significant that it impacts the corporation's overall strategy or requires a disbursement of funds that requires shareholder approval under corporate bylaws or applicable law.
In most cases, the corporation would still need to ensure adequate funding for the transaction, form a purchase contract with the selling corporation, and potentially obtain the approval of its board of directors, especially if the transaction size warrants it. Shareholder approval may only be required if the purchase represents a substantial investment concerning the overall size of the company, or if explicitly required by the company's charter or bylaws.
Vincent and Jean are two cooks who work in a village. Each of them can either bake cakes or make pizzas. Every ingredient is readily available to them, and the only scarce resource is the cook's time. Vincent can bake 10 cakes or make 5 pizzas in an hour. Jean can bake 12 cakes or make 8 pizzas in an hour. Please answer the four questions below.
A) Which cook has the absolute advantage in baking cakes?
B) Which cook has the absolute advantage in making pizzas?
C) Which cook has the comparative advantage in baking cakes?
D) Which cook has the comparative advantage in making pizzas?
Answer:
Vincent and Jean are two cooks who work in a village. Each of them can either bake cakes or make pizzas. Every ingredient is readily available to them, and the only scarce resource is the cook's time. Vincent can bake 10 cakes or make 5 pizzas in an hour. Jean can bake 12 cakes or make 8 pizzas in an hour
Which cook has the absolute advantage in baking cakes?
Jean has the absolute advantage in baking cakes
Which cook has the absolute advantage in making pizzas?
Jean has the absolute advantage in making pizzas
Which cook has the comparative advantage in baking cakes?
Vincent has the absolute advantage in baking cakes
Which cook has the comparative advantage in making pizzas?
Vincent has the absolute advantage in making pizzas
Explanation:
Changing personnel responsibilities to suit an information system is more disruptive to an organization than ordering additional hardware for the information system.
True / False.
Answer: True
Explanation:
Changing personnel responsibilities might in one way or the other enhance information risks increasing the probability of disruption and unauthorized access to information system in an organization.
When Alex, the marketing manager of Hartwell Inc., realized that his plan to increase sales levels was not producing the results he desired, he took quick action to make necessary adjustments. According to this scenario, Alex was exercising the management function of ______.
Answer: Controlling function.
Explanation:
Controlling function is taken by Alex the marketing manager to determine the cause of poor recorded sales and determine ways of increasing sales. Controlling function in management occurs, when a manager of an organization monitors the outcome of his organization to check if the organization's goals are being met. If the goals are being achieved the manager finds ways to maintain it and if the goals are not being met takes corrective measures.
Vac N' Sew will give customers $100 for a used vacuum cleaner, regardless of condition, when they purchase a new vacuum or sewing machine. This essentially reduces the price by $100. What is this type of discount called?
Answer:
Trade-in allowance
Explanation:
A trade-in allowance is a type of discount in which the price of a good is reduced by the value of a another good that the buyer gives to the seller.
In this question, we have a trade-in-allowance because buyers give a product (a used vacuum cleaner) valued at $100 in exchange for a discount by the same amount of the total price of the new vacuum that they want to buy.
Making sales to a customer on credit is an example of a ________ decision, and would be the responsibility of the __________.
Correct/Complete Question:
Making sales to a customer on credit is an example of a ________ decision, and would be the responsibility of the __________.
A) Working Capital; Controller
B) Capital Structure; Controller
C) Capital Budgeting; Treasurer
D) Capital Structure; Treasurer
E) Working Capital; Treasurer
Answer:
E, Working Capital, Treasurer
Explanation:
A working capital refers to the capital required by a business to ensure its day-to-day business operations. It can also be said to be the capital available to businesses, the government,as well as other firms in need.
A treasurer in the other hand is an individual responsible for the financial management of an organization. By financial management of an organization, a treasure has the responsibility of analyzing and balancing the organization's bank statements, choosing what banks to be used by the organization, etc among other things.
Since a treasurer is responsible for managing financial service. of an organization, the treaurer reserves the power to sell to anyone on credit the treasure will know how to include that in the financial statement.
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