Answer:
The two main financial statements are the income statement and the balance sheet.
In the income statement all the revenue and the expenses should be accounted for, resulting in net profits or net losses. The income statement shows how the restaurant has been performing over a given period (usually a year).
The balance sheet is like a photo of the restaurant itself at a specific point in time. The balance sheet shows what assets the restaurant has, how much money it owes and what percentage of the business really belongs to the owners.
The other two financial statements are the statement of owner's equity and the statement of cash flows, but they are more complicated to explain and not that basic for a small business.
according to the law of supply if the price of apple juice rises producers of apple juice will be willing and able to.
Answer:
Increases the Quantity Supply of apple juice.
Explanation:
According to the law of supply, there is a positive relationship between the price of the good and the quantity supply of that good.
If the price of a particular good increases then as a result the quantity supplied of that good also increases because it will become more profitable for the producers to supply more quantity of goods.
Hence, if the price of apple juice increases then as a result the producers are willing and able to supply more quantity of apple juice.
A stock’s holding period return represents:
a. the return from a stock relative to the return from a specific portfolio.
b. the total return earned over a specific period through buying and selling an asset.
c. the total dividend return received over the time a stock is held.
Answer:
b. the total return earned over a specific period through buying and selling an asset
Explanation:
Holding period return(HPR) is the return an investor receives for the period he/she holds the stock. For example if an investor buys a company's stock and holds it for a year then sells it after receiving the dividend, the holding period will be 1 year, while the holding period return will be the percentage rate of return earned within that 1 year , making choice B correct.
Investment advisers are prohibited from doing all of the following EXCEPT:
A. assigning a customer's contract without permission
B. charging a retainer fee
C. charging commissions on trades effected for the client
D. changing partnership management without notifying clients
Answer:
B. charging a retainer fee
Explanation:
Investment advisers are prohibited from doing all of the following except for charging a retainer fee. A retainer fee is an specific amount of money that the client pays to the professional upfront so that his/her services are secured and always available when needed. Investment Advisers can charge this fee so that the client's can always get their service as soon as it is needed.
Final answer:
Investment advisers can charge retainer fees and commissions on trades effected for clients, provided they are transparent and agreed by the client. Assigning a customer's contract without permission, or changing partnership management without notifying clients, is not allowed due to the fiduciary obligation to the client's best interests.
Explanation:
The question pertains to permissible activities for investment advisers and is focused on understanding which actions are not prohibited in their roles. Investment advisers have a fiduciary duty to prioritize their clients' interests over their own. Within the context of managing investment portfolios, this acknowledges that there are specific actions they cannot take without facing legal and ethical consequences.
Reviewing the options provided: Assigning a customer's contract without permission (Option A) is a violation of this fiduciary duty, as it is transferring the advisor's responsibility to another party without the client's consent. Similarly, changing partnership management without notifying clients (Option D) would be against regulations as it affects the management of clients' investments without their knowledge. On the other hand, charging a retainer fee (Option B) and charging commissions on trades effected for the client (Option C) are typically allowed, provided they are disclosed and agreed upon with the client. Thus, the option that is expressly permitted is charging a retainer fee or commissions on trades, as long as they are transparent and agreed by the client.
When flying a GPS approach procedure, what effect will overriding an automatically selected sensitivity have?
Answer: It will cancel the approach mode annunciation
Explanation: GPS(Global positioning system) is a United States of America owned navigation system which makes use of radio waves it was developed and managed by the United States Department of defense. When flying a GPS approach procedure,it is recommended not to override an automatically selected sensitivity,the approach mode annunciator or receiver should be verified before making any changes.
AAA has a contract to build a building for $100,000 with an estimated time to completion of three years. A reliable cost estimate for the project is $60,000. In the first year of the project, AAA incurred costs totaling $24,000. How much profit should AAA report at the end of the first year under the percentage-of-completion method and the completed-contract method?Percentage-of-completion : Completed-contract
a) $16,000 : $0
b) $16,000 : $40,000
c) $40,000 : $0
AAA should report a profit of $16,000 at the end of the first year under the percentage-of-completion method and $0 under the completed-contract method.
Explanation:To determine how much profit AAA should report at the end of the first year under the percentage-of-completion method and the completed-contract method, we must calculate the revenue recognized and expenses incurred.
Under the percentage-of-completion method:
Percentage of completion = Total costs incurred to date / Total estimated costs = $24,000 / $60,000 = 40%Revenue to be recognized = Percentage of completion x Contract Revenue = 40% x $100,000 = $40,000Profit = Revenue recognized - Costs incurred = $40,000 - $24,000 = $16,000Under the completed-contract method:
Profit is not recognized until the project is complete.Therefore, the profit at the end of the first year is $0.Hence, the correct answer is:
Percentage-of-completion: $16,000
Completed-contract: $0
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Candice wants to buy a $2500 scooter with a loan from her local bank. Which loan option would be best for Candice if she wants the lowest interest rate and wants to pay off the scooter within 5 years.
A. Loan option 1 will take less than 4 years to pay off and have an annual interest rate of 15%, and total interest of about $700.
B. Loan option 2 will take 3 years to pay off, at which point she will have paid $1,050 in interest.
C. Loan option 3 will take 7 years to pay off, and the total paid for the scooter will be $3200.
D. Loan option 4 will take 5 years to pay off, and the total paid for the scooter will be $3500.
Answer:
A. Loan option 1 will take less than 4 years to pay off and have an annual interest rate of 15%, and total interest of about $700.
Explanation:
A. option 1 will take around four years and total interest over four years is $700.
Interest cost per year=700/4=$175
B. option 2 will take three years and total interest over three years is $1050
Interest cost per year=1050/3=$350
C. option will take seven years and total interest over seven years is $700(3200-2500)
interest cost per year=700/7=$100
D. option 4 will take five years and total interest over five years is $1000(3500-2500)
interest cost per year=1000/5=$200
So the Candice will avail A. option 1 which give lowest interest rate and also the payment in option 1 has to be made within 4 years.
Answer:
answer is A
Explanation:
In California, Arthur wants to personally place business with RTS Insurance Company who is a nonadmitted carrier. The only way Arthur can rightfully place such business is if he seeks a:
Answer
Professional ethics and code of conduct regulation
Explanation:
California Professional code of conduct for insurance agent does not permit unethical placement, as the regulator view such as fraudulent practices.
Final answer:
Arthur can rightfully place business with the nonadmitted RTS Insurance Company in California by going through a surplus line broker, who is authorized to conduct business with insurers that are not licensed by the state insurance commissioner.
Explanation:
In California, if Arthur wants to personally place business with RTS Insurance Company, a nonadmitted carrier, he must do so through a surplus line broker. Nonadmitted insurance companies are not licensed by the state insurance commissioner and can only do business in the state through these brokers. Surplus line brokers are specialized in dealing with nonadmitted carriers and have the authority to place coverage with such insurers when the coverage cannot be obtained from admitted insurers.
An admitted insurance company has been licensed by the state and is subject to state regulation, which includes the approval of rates and the monitoring of the company's financial strength and claim-paying ability. In contrast, nonadmitted insurance companies operate outside of the state's direct regulatory framework but are still accessible through surplus line brokers who are regulated and authorized to transact with these insurers.
Zedz Technicals, a provider of game programming, directed its highly skilled and technically sound salespeople to visit its customers without prior appointment and makes a sales pitch on the spot. Which of the following techniques was used by the sales team?A) Creative selling
B) Inbound telemarketing
C) Cold calling
D) Missionary selling
Answer:
Cold calling
Explanation:
Cold calling
Cold calling is a techniques used in the sales business. it can be refer as first process where first call has made to the potential customer. tradionally it is done through telephone but now it can done through face to face interaction or door knocking.
cold calling is very important step in making healthy relation with the customer for longer period of time.
Changes in Government spending (G) will have a _________ impact upon the economy than changes in T because Government spending goes directly into the economy..
Answer:
Larger
Explanation:
Government spending alludes to cash spent by the open division on the procurement of products and arrangement of administrations, for example, training, human services, social insurance.
This incorporates open utilization and open speculation, and move installments comprising of salary moves.
Fiscal policy affects aggregate demand through changes in government spending and taxation. Those factors influence employment and household income, which then impact consumer spending and investment.
Financial strategy influences total interest through changes in government spending and tax assessment. Those variables impact work and family unit salary, which at that point sway customer spending and venture.
The expense for an autopsy covered under the physical exam and autopsy provision is paid by:______
A The state's autopsy fund.
B The limits of coverage under the health insurance policy.
C The estate of the insured.
D The insurer.
Answer:
The expense for an autopsy covered under the physical exam and autopsy provision is paid by the insurer.
The correct answer is D
Explanation:
The insurer has the right to pay for an autopsy covered under the physical exam and autopsy provision. This is contained in standard provision No 11 of Washington State Legislation.
The expense for an autopsy covered under the physical exam and autopsy provision of a health insurance policy is generally paid by the insurer as part of the agreed coverage, without requiring additional payment from the insured's estate.
Explanation:The expense for an autopsy covered under the physical exam and autopsy provision is typically paid by D. The insurer. This cost is usually factored into the coverage provided by a health insurance policy. In the context of health insurance, policyholders often bear costs such as deductibles, copayments, and coinsurance, which are out-of-pocket expenses before the insurer's coverage kicks in. These cost-sharing measures, including deductibles, copayments, and coinsurance, are designed to share the costs between the insurer and the insured and to mitigate moral hazard — the tendency to take greater risks when protected from the consequences of those risks. However, an autopsy, being a unique and specific service, is typically covered as per the terms of the insurance policy without additional out-of-pocket expenses expected from the estate of the insured or the policyholder.
To maximize profits a firm will employ workers up to the point at which for the last worker employed:
Answer:
The correct answer is: point at which the marginal labor costs equal the marginal revenue generated for the firm from that last worker employed.
Explanation:
To begin with, in neoclassical microeconomics, the marginal revenue productivity theory of wages establish that companies will employ workers up to the point at which for the last worker employed the marginal revenue product of labor equals the real wage that will be paid to the worker in where if the marginal revenue that the last worker brings is less than the wage rate then it will cause a decrease in the profits to keep employing that last worker and the correct action will be to fired him.
Check My Work Consider two countries that trade with each other, called X and Y. According to the text, inflation in Country X will have a greater impact on inflation in Country Y under the ____ system. Now, consider two other countries that trade with each other, called A and B. Unemployment in Country A will have a greater impact on unemployment in Country B under the ____ system.
Answer:
fixed exchange ratefixed exchange rateExplanation:
Some of the major disadvantages of fixed exchange rates are:
Under-valued or over-valued currencies cannot be adjusted. The adjustments on interest rates have a limited effect on economic growth. A lot of reserves are needed to support the currency's fixed rate.Due to the previously stated disadvantages, when the exchange rates between trading countries are fixed, both inflation and unemployment rates of one country will have a significant effect on the other country.
Which of the following sequences correctly represents the flow of electrons during photosynthesis?A. NADPH -> O2 -> CO2B. H2O -> NADPH -> Calvin cycleC. NADPH -> chlorophyll -> Calvin cycleD. H2O -> photosystem I -> photosystem IIE. NADPH -> electron transport chain -> O2
Answer and Explanation:
B. H2O -> NADPH -> Calvin cycle
1. a subtraction net pay
2. pay that includes overtime, commissions, and bonuses before any deductions exempt
3. the portion the employee takes home withholding allowance
4. free from deduction deduction
5. an amount entered on the W-4 form that tells the employer the amount of income tax to subtract from an employee's paycheck gross pay
Subtraction net pay is the amount that is entered in the W-4 form and that tell the employer the amount of income tax that must be subtracted from an employee's paycheck gross pay
Explanation:
The amount that one receives after the taxes and the amount from the deductions and the final amount that is received on hand is called as the net pay. The subtracted net pay is the pay after the subtraction from the employers pay check and the gross pay
The gross pay is usually calculated by subtracting the federal tax and the social tax and the security taxes and the net pay amount ill be always lesser than the gross pay amount because it is the final amount that will be received
Answer:
1 - commission -- a fee paid to an employee for their sale or services usually based on a percentage of the sale price
2 - gross pay -- an employee’s total pay, including overtime pay, commissions, and bonuses before any deductions were made
3 - net pay -- the amount that appears on the paycheck
4 - exempt -- free from deducting federal income tax from paychecks
5 - withholding allowance -- an amount an individual enters on the W-4 form that helps an employer calculate the amount of income tax to subtract from an employee’s paycheck
6 - deduction -- an amount that is taken out of your paycheck to be sent to the federal government or Social Security
7 - revenue -- the income that a business earns through sales
This is my best attempt from googling for 20 minutes for the ones i didn't already know from having a job. Pretty sure they're all right but if not don't hate me.
The equilibrium wage rate is $18. A perfectly competitive firm sells widgets for $8. Suppose the marginal product of the 6th unit of labor is 3 widgets and the marginal product of the 9th unit of labor is 2 widgets. This firm should hire:
Answer:
should hire the sixth employee whose marginal product is 3 widgets
Explanation:
Since we are not given information about the seventh and eighth employee's marginal product, we cannot know if they should be hired or not.
A competitive firm must hire employees to a point where marginal labor cost equals marginal revenue product.
Marginal labor cost = $18
Marginal revenue product sixth employee = 3 widgets x $8 per widget = $24
Marginal revenue product ninth employee = 2 widgets x $8 per widget = $16
marginal revenue product for the sixth employee is higher than marginal labor cost, therefore the employee should be hired
marginal revenue product for the ninth employee is lower than the marginal labor cost, therefore the employee should bot be hired
The firm should hire the 6th unit of labor as its value of marginal product ($24) exceeds the wage rate ($18), but not the 9th unit since its value of marginal product ($16) is below the wage rate.
The student's question revolves around the decision-making process of a profit-maximizing firm in a perfectly competitive labor market regarding how many workers to hire based on the marginal product of labor and the equilibrium wage rate. The purpose is to determine the optimal number of workers the firm should hire when the equilibrium wage rate is $18, the firm sells widgets for $8, and the marginal product of labor changes at different levels of employment.
To make this decision, the firm assesses the value of the marginal product, which is found by multiplying the marginal product of labor by the firm's output price. For the 6th unit of labor, producing 3 widgets means generating $24 (3 widgets x $8/widget) in revenue.
For the 9th unit of labor, which produces 2 widgets, the revenue generated is $16 (2 widgets x $8/widget).
Considering the equilibrium wage rate of $18, the firm should hire workers as long as the value of the marginal product is equal to or greater than the wage rate.
As such, the firm should hire the 6th unit of labor because its value of marginal product ($24) is higher than the wage rate. However, the firm should not hire the 9th unit of labor because its value of marginal product ($16) is below the wage rate ($18).
For a consumer with a given level of income, the combinations of goods for the budget constraint will be _______ than for the budget set.
Answer:
the correct answer is lower
Explanation:
For a consumer with a given level of income, the combinations of goods for the budget constraint will be lower than for the budget set.
good luck
Tom and Lilly rented a house for $12,000 last year. At the start of the year they bought the house they had been renting directly from the owner for $250,000. They believe they could rent it for $12,000 this year, but stay in the house. How much does Tom and Lilly’s decision to buy the house change GDP? a. it reduces GDP by $12,000 b. it raises GDP by $250,000 c. it does not change GDP d. it raises GDP by $238,000
Answer:
C) it does not change GDP
Explanation:
The selling of existing homes does not affect the GDP since they were built in previous years. Only the sale of newly built homes increase the GDP.
Only the services provided by real estate agents, appraisers, lawyers, etc. related to the sale of existing homes are included in the GDP.
Buying the house does not alter GDP, as the estimated rental value of owner-occupied homes is included in GDP.
Explanation:The decision by Tom and Lilly to buy the house they had been renting does not change Gross Domestic Product (GDP), because GDP includes the value of all goods and services produced within a country in a given period. When they were renting, their rental payments were part of GDP. After buying the house, an estimated rental value of the owner-occupied home is still included in the GDP, even though no actual rent is paid, to reflect the value of housing services they consume. Therefore, the correct answer is that it does not change GDP.
Which of the following contract subject matters would not be covered under the UCC?
a. a contract for the sale of a mobile home from the manufacturer
b. a contract for the sale of a mobile home from a previous owner
c. a contract for the sale of a mobile home plus its lot
d. All of the above are under the UCC.
Answer:
Correct option is (c)
Explanation:
UCC is the abbreviation for Uniform commercial code that has been established for the purpose of sale of personal as well as business property.
Artcle 2 under UCC deals with sales and leases. As per this, any item identified as a good that is movable at the time of sale is considered subject matter of contract. So mobile house is covered under this article. Lot, however, is a single unit which is considered as a separate item for sale and cannot be combined with mobile home under UCC.
The contract that would not be covered under the UCC is a contract for the sale of a mobile home plus its lot. This is because the UCC typically does not cover real estate transactions and this contract involves the sale of real estate. In this case, a mobile home itself would generally be considered personal property, and contracts for its sale would be covered by the UCC.
Explanation:The subject of the question pertains to the Uniform Commercial Code (UCC), which governs transactions involving personal property but does not traditionally cover real estate. Therefore, option c, a contract for the sale of a mobile home plus its lot, would typically not be covered under the UCC. This is because it involves the sale of real estate - the lot - in addition to the sale of personal property - the mobile home. However, the specifics can sometimes vary state to state, depending on how they define a mobile home.
Options a and b, contracts for the sale of a mobile home from the manufacturer or a previous owner respectively, would commonly fall under the UCC since they involve the sale of goods - the mobile homes.
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If the MPC is 0.8 and a component of AD, such as Investment, is increased by $5, then the maximum amount of change in income and output for the nation would be ___________ .
a. $20
b. $25
c. $50
d. $100
Answer:
$25
Explanation:
The maximum amount by which the real GDP is expected to change for a given change in expenditure is known as the multiplier. Note that an economy is made of millions of economic agents interacting with one another. So expenditure made by one actor becomes an income in the hands of another who in turn spends a portion which becomes income to another and so on.
Marginal propensity to consume (MPC) represents the proportion of any extra income spent. For example, if my income increases by $100 and I only spent $70, then MPC is 0.7.
The multiplier depends on MPC. The multiplier is calculated as follows
Multiplier = 1/(1-MPC)
The multiplier in this question is therefore equals to 1/(1-0.8) = 5.
The maximum change expected in the real GDP is calculated as follows:
Maximum change change in GDP = Multiplier × change in expenditure
The maximum change in output for this question is
1/(1-0.8) × $5 = $25
A major objective of written representations is to
a.Shift responsibility for financial statements from the management to auditors.
b.Provide a substitute source of audit evidence for substantive procedures that auditors would otherwise perform.
c.Provide management an opportunity to make assertions about the quantity and valuation of the physical inventory.
d.Impress on management its ultimate responsibility for the financial statements and disclosures
Answer:
d.Impress on management its ultimate responsibility for the financial statements and disclosures
Explanation:
A written representation is written statement by management provided to the auditor to confirm certain matters or to support other audit evidence. It does not include financial statements, assertions, or supporting books and records.
The written representation are normally provided by management for purpose that it has fulfilled its responsibilities in respect of the financial statements and the audit.
Option a. is incorrect since the ultimate purpose of written representation is that management confirms its responsibilities in respect of financial statements.
Option b. is also incorrect because management representation can only be used to support the substantive procedures that we have performed during the source of our audit. They can never be alternative to substantive procedures.
Option c. is also incorrect because the management representation does not include any kind of assertion about any financial statement item.
Option D. is correct since the ultimate objective of the written representation is that management accepts its responsibility for the preparation of financial statements.
So the answer is d.Impress on management its ultimate responsibility for the financial statements and disclosures
Danny works for a company that matches his 401(k) retirement contributions at a rate of "$0.25 per $1" of his contributions, up to 6% of his salary. Danny earns $50000/year. Using Doc White’s advice, what is the minimum amount of salary that Danny should contribute to his 401(k) plan each year? A. $50000/year B. $3000/year C. $12500/year D. $12000/year
Answer:
B $3000/year
Explanation:
The minimum amount of salary that Danny should contribute to his 401(k) plan each year = 6% of his annual salary = 6/100 × $50000 = $3000/year
Final answer:
Danny should contribute a minimum of 6% of his salary to his 401(k) plan each year so the amount is B. $3000/year
Explanation:
Danny should contribute a minimum of 6% of his salary to his 401(k) plan each year.
His salary is $50,000, so
Calculating - 6% of $50,000
= 6/100 x 50,000
= 30,0000/100
= 3000
Therefore, option B, $3,000/year, is the minimum amount of salary that Danny should contribute to his 401(k) plan each year.
Bank statements, credit statements, and records of cash expenses help you to estimate your ________.1.credit score2.emergency fund needs3.expenses4.available investments
Answer:
4. Available investments
Explanation:
To enable me estimate my available investments, I need my bank statements, credit statements and record of cash expenses
Bank statements, credit card statements, and cash expense records help you estimate your expenses by providing a record of your monthly spending. Hence the correct option is (3).
Explanation:Bank statements, credit card statements, and records of cash expenses are all important pieces of financial information that help you to estimate and track your expenses. These documents serve as a record of your spending, allowing you to see where your money goes each month.
This information can be essential for creating a budget, planning for the future, and managing your finances effectively. The total of all the expenses reflected in these documents will be your total monthly expenses. This amount includes things like bills, food, entertainment, and any other things you may spend money on.
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Looking to increase its customer loyalty, management at Epic International has worked to create a personal dialogue with their customers. This dialogue will enable Epic to offer products that exactly meet their customers' needs and provide personalized service before and after the sale.
What strategy does Epic International illustrate?
A. a production orientation
B. niche marketing
C. relationship marketing
D. personalized promotion
Answer: (C) Relationship marketing
Explanation:
The relationship management is one of the business strategy where the organization basically maintaining the partnership with the clients and the customers.
The main aim of the relationship management is that it efficiently deals with the relationship between the business and the customers.
By using the relationship marketing strategy, it manage all the consumer data which is known as CRM (Customer relationship management) and also analysis the business.
Therefore, Option (C) is correct.
Suppose "expectations increase dramatically" (too much "buy now" behavior) in the mini-economy and the resulting demand shift causes the average price to rise from $2.20 to $2.40 in the circular flow. In the PPF Model then, the equilibrium would move from Point S to Point ________..
Answer:
Point P
Explanation:
The change of equilibrium conditions from point S to point P leads to an extreme inflation. Extreme inflation is also known as hyperinflation and it is a condition whereby there is an extremely high and increasing rate of inflation. This hyperinflation can easily devalue the currency in the country. In addition, the price of goods and services also increases.
Watching consumers' actions during the postpurchase evaluation step of the consumer decision-making process led to the development of Chipotle's best-selling product, the
Multiple Choice
a. fried burrito.
b. soft taco.
c. taco salad.
d. chips and salsa.
e. burrito bowl.
Answer:
d. chips and salsa.
Explanation:
salsa has been the speciality of the chipotle, chips also been with mostly ordered with them
Which group of colonies relied more on fisheries, commerce, and shipping than farming?
Answer:
Colonies of Massachusetts, Rhode Island, Connecticut and New Hampshire generally known as New England Colonies
Explanation:
________ issues participation certificates, and ________ provides federal insurance for participation certificates
1. Freddie Mac; no one2. Ginnie Mae; Ginnie Mae3. Freddie Mac; Ginnie Mae4. Freddie Mac; Freddie Mac5. Ginnie Mae; Freddie Mac
Answer:
4
Explanation:
Freddie Mac issues and guarantees Mortgage Participation Certificates.
Ginnie Mae is responsible for both issuing and providing federal insurance for participation certificates in the secondary mortgage market. Freddie Mac, while similarly involved in purchasing mortgages, does not offer federal insurance for the certificates it issues.
Federal Insurance for Participation Certificates
The correct answer to the question is: Ginnie Mae issues participation certificates, and Ginnie Mae provides federal insurance for participation certificates. Both the issuance and the federal insurance of these financial instruments are within the scope of Ginnie Mae's operations. In contrast, while Freddie Mac plays a significant role in the secondary mortgage market by buying mortgages from banks, it is not responsible for providing federal insurance to the participation certificates it issues, which is a distinctive feature of Ginnie Mae.
Understanding the functions of these government-sponsored enterprises (GSEs) is essential to comprehending their impact on the mortgage market. Freddie Mac, alongside Fannie Mae, purchases mortgages, packages them into mortgage-backed securities, and ensures that lenders have a continuous supply of mortgage funds. Ginnie Mae, meanwhile, guarantees investors the timely payment of principal and interest on mortgage-backed securities that bear its guarantee, providing a level of security attractive to investors and contributing to low interest rates on the mortgages it guarantees.
Jake just got a big promotion at work and wants to buy a new Jaguar. However, he lives in northeast Indiana, and the nearest Jaguar dealer is nearly 200 miles away in Indianapolis. This suggests that Jaguar utilizes _______ distribution of its vehicles.
Answer:
Exclusive distribution
Explanation:
Few companies and organisation just use exclusive restaurants to sell their products and services. Exclusive restaurants mean only some recognised and authorised franchises can sell a product and no local dealers are authorised. Similarly, jade wants to buy jaguar and the only deal is 200 miles away which means that jaguar utilises exclusive distribution of its vehicles.
A broker-dealer offers 4 summer passes to an amusement park to each of its agents who sell at least $10,000 of bonds during the month of June. This action is:_______
I allowed
II not allowed
III considered to be "soft dollar" compensation
IV not considered to be "soft dollar" compensation
Answer:
I (allowed) and IV (not considered soft dollar compensation)
Explanation:
Soft dollar compensation refers to payments made to brokerage firms or agents as commission revenue. They differ from hard dollar compensation because hard dollars are payments that were agreed upon before an investor started working with the broker, while soft dollars are based upon variable commissions.
The real-income effect:______ a. occurs when utility declines as consumption increases. b. is the additional satisfaction derived from consuming one more unit of a good or service. c. is the combination of goods and services that maximizes utility for a given income. d. occurs when a consumer buys more of a good as a result of a relative price change. e. occurs when there is a change in purchasing power as a result of a change in the price of a good.
Answer: The correct answer is "e. occurs when there is a change in purchasing power as a result of a change in the price of a good.".
Explanation: The real-income effect occurs when there is a change in purchasing power as a result of a change in the price of a good.
The income effect corresponds to the variation in the quantity demanded of a good (or service) as a result of the modification of the purchasing power of purchase caused by a change in the price of the good in question.