Answer:
first-mover advantage
Explanation:
First-mover advantage refers to the strategic advantage achieved by the first company that occupies a market segment. In order for a company to gain first-mover advantage it must be the first company to enter a market or at least be the first company to gain competitive advantage in that market.
Unidice is the first company to gain competitive advantage in the data system market because its processing speed is much higher than its competitors.
Sometimes you don't need to be the first one to enter a market, but you need to be the first one to do things right. For example, Microsoft introduced the Surface tablet almost a decade before Apple introduced the iPad, but Apple did it right, therefore Apple gained first mover advantage.
Because of less availability and greater demand for scientific research, platinum remains consistently expensive, like gold.
True or False?
Answer:
True
Explanation:
Platinum is a very expensive metal because it is very rare (much rarer than gold) and only 160 tons of platinum are mined per year (compared to 1,500 tons of gold).
Besides jewelry, platinum is being used to develop high capacity fuel cells. Platinum serves as catalyst in the fuel cells, but its expensive price has limited the commercial viability of the power cells.
Researchers are continuously developing new power technologies to replace petroleum products (gasoline and diesel), but their costs are currently prohibitive for most of its potential uses.
Jeanie had always been interested in how individuals and businesses effectively allocate their resources in order to accomplish personal and
organizational goals. That's why she majored in economics and took on an entry-level position at an accounting firm. She is very interested in
further advancing her career by looking into a specialization that builds upon her academic background, and her interest in deepening her
understanding of how companies adjust their operating results to incorporate the economic impacts of their practices on internal and external
stakeholders. Which specialization could Jeanle follow to get the best of both worlds?
Jeanie should chose
accounting to get the best of both worlds.
Final answer:
Jeanie should choose accounting to get the best of both worlds.
Explanation:
To get the best of both worlds, Jeanie should choose accounting as her specialization.
With her background in economics and her interest in understanding how companies adjust their operating results to incorporate the economic impacts of their practices, accounting would be a great fit. Accounting involves the measurement, processing, and communication of financial information, and it plays a crucial role in helping individuals and businesses effectively allocate their resources to achieve their goals.
By specializing in accounting, Jeanie can deepen her understanding of how companies manage their finances, analyze the economic impacts of their practices, and contribute to the overall success of the organization.
When school districts are funded by local taxes only, the likelihood of disparities in funding goes up.
Answer: True
Explanation: areas that are rural, poor, or have large areas of government-owned lands generate less tax revenue for schools while wealthier areas generate more, making the he level of school funding much lower in poore areas.
If the world price of a good is equal to its no-trade equilibrium price, the country will import more of the good from other nations.
Answer:
False
Explanation:
The no-trade equilibrium price of a good refers to the domestic price of a good in an economy without any exports or imports. Therefore if the world price of a good is equal to the domestic price of the good, then there is no incentive to import the good.
Domestic producers will have an incentive for foreign trade if the world price is different from the domestic. If the world price is higher there is an incentive to export. If world price is lower, then there is an incentive to import.
Edwards Auto Body uses a job order cost system. Overhead is applied to jobs on the basis of direct labor hours. During the current period, Job No. 337 was charged $425 in direct materials, $475 in direct labor, and $190 in overhead. If direct labor costs an average of $16 per hour, the company's overhead application rate is:________
A. $40 per direct labor hour.
B. $17.50 per direct labor hour.
C. $6.40 per direct labor hour.
D. $7.27 per direct labor hour.
Answer:
C) $6.40 per direct labor hour.
Explanation:
The overhead application rate is used to estimate the manufacturing overhead for a specific project or reporting period.
overhead application rate = direct labor cost per hour / (total direct labor costs / total overhead costs)
overhead application rate = $16 / ($475 / $190) = $16 / $2.50) = $6.40
Jensen Company has cash proceeds from sales of $8,400. This amount includes $400 of sales taxes. Give the entry to record the proceeds. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Answer:
Debit Cash account $8,400
Credit Sales account $8,000
Credit Sales tax payable $400
Being entries to record cash proceeds from sale.
Explanation:
Since total cash received from the sale was $8,400, a debit entry for this amount is posted to the Cash account.
Of the amount received, $400 is for sales tax. This is a liability to the organization and as such a credit entry for sales tax payable of $400 is recorded until it is remitted.
The balance of $8000 is the actual amount to be recognized as sales.
A cost received by a subsequent process from a prior process is referred to as a: Select one:
a. cost of goods transferred out.
b. cost of beginning work-in-process.
c. cost of ending work-in-process.
d. transferred-in cost
Answer: Option A
Explanation: Cost of goods transferred out or process costing is an business approach that monitors and builds up direct expenses and assigns indirect expenses to a production process. Consumer costs are delegated, usually in a big batch, which could include the output of a whole month.
It is a form of operational costing used to assess a product's cost at each manufacturing process or point. CIMA describes phase costing as "the relevant costing method where products or services benefit from a constant or repeated series of activities or procedures.
If the marginal propensity to consume is 0.75, the multiplier for taxes and transfer payments is:1. 3
2. 4.
3. 0.25.
4. 0.75.
Answer:
option (1) 3
Explanation:
Data provided in the question:
Marginal propensity to consume, MPC = 0.75
Now,
Tax multiplier = 1 - [1 ÷ ( 1 - MPC ) ]
or
Tax multiplier = 1 - [ 1 ÷ ( 1 - 0.75 ) ]
or
Tax multiplier = 1 - 4
or
Tax multiplier = - 3
And,
Transfer payment multiplier = MPC ÷ [ 1 - MPC ]
or
Transfer payment multiplier = 0.75 ÷ [ 1 - 0.75 ]
or
Transfer payment multiplier = 0.75 ÷ 0.25
or
Transfer payment multiplier = 3
Hence,
Answer is option (1) 3
Whereas marketing and financial careers have been transformed by the growth in information systems, thus far managerial positions have remained relatively unaffected.
A. True
B. False
Answer and Explanation:
B. False
Public policy
a. can reduce both frictional unemployment and the natural rate of unemployment.
b. cannot reduce frictional unemployment, but it can reduce the natural rate of unemployment.
c. can reduce frictional unemployment, but it cannot reduce the natural rate of unemployment.
d. cannot reduce either frictional unemployment or the natural rate of unemployment.
Answer:
A: Can reduce both frictional unemployment and the natural rate of unemployment.
Explanation:
Public policy can reduce both frictional unemployment and the natural rate of unemployment.
Prospective utilization review is:
A) Decisions that are being made during the actual course of service such as additional surgery.
B) An evaluation of services once the services have been provided.
C) Examines specific provider patterns of practice.
D) Implemented before the service is actually performed by having the procedure authorized by the MCO.
Answer: Examines specific provider patterns of practice.
Explanation: Prospective reviews provide the original pre-treatment examination and the primary treatment evaluation for a particular area of the body.
Utilization review is a health insurance company's opportunity to review a request for medical treatment. The aim of the examination is to ensure that your healthcare services are covered by the package. It also helps to reduce costs for the client and assess whether the common treatment is appropriate.
Thus, from the above we can conclude that the correct option is C .
Approximately two-thirds of 3PL customers think their providers supplyA. tactical or operational services.B. strategic or integrative services.C. trucking and warehouse servcies.D. a firm that can supply a competency that is not core to the firm.
Answer:
The correct answer is (A)
Explanation:
The third-party logistics is one of an important factor to improve and expand the business. Most of the third party customers believe that their service providers provide them with complete tactical and operational service which is important and a critical aspect to attract more customers. Overall, 3PL does provide customers with tactical and operational service according to the latest reports and data surveys.
The correct answer is A. tactical or operational services.
To understand the answer, let's first clarify what 3PL stands for and the types of services it encompasses. 3PL stands for Third-Party Logistics, which refers to companies that provide logistics services to businesses. These services can range from operational to strategic, including transportation, warehousing, inventory management, and other value-added services.
Other options are incorrect because:
B. strategic or integrative services - These services involve a higher level of engagement with the client's business, including network design, supply chain strategy, and integration of logistics services into the client's business processes.
C. trucking and warehouse services - These are specific types of operational services that fall under the tactical category. They are fundamental services provided by many 3PLs but do not encompass the full range of services that 3PLs can offer.
D. a firm that can supply a competency that is not core to the firm - This option describes the role of a 3PL provider in general, which is to offer services that a company chooses not to perform internally because they are not part of its core competencies.
Therefore, the statement that approximately two-thirds of 3PL customers think their providers supply tactical or operational services aligns with the general understanding of the role of 3PL providers in the market. This makes option A the most accurate answer to the question.
The better-off test for evaluating whether a particular diversification move is likely to generate added value for shareholders involves
A) assessing whether the diversification move will make the company better off because it will produce a greater number of core competencies.
B) assessing whether the diversification move will make the company better off by improving its balance sheet strength and credit rating.
C) assessing whether the diversification move will make the company better off by spreading shareholder risks across a greater number of businesses and industries.
D) evaluating whether the diversification move will produce a 1 + 1 =3 outcome such that the company’s different businesses perform better together than apart and the whole ends up being greater than the sum of the parts.
E) assessing whether the diversification move will benefit shareholders due to gains in earnings per share and faster stock price appreciation.
The better-off test for evaluating whether a particular diversification move is likely to generate added value for shareholders involves evaluating whether the diversification move will produce a 1 + 1 =3 outcome such that the company’s different businesses perform better together than apart and the whole ends up being greater than the sum of the parts.
Option D is correct
Explanation:
The stronger measure is explicitly satisfied by a corporate strategy focused on collaborative operations, as business entities are obtaining tangible benefits from other businesses within the organization. It also passes the entry cost criterion by reducing the cost of addressing internal entry barriers.
Either the new unit needs to benefit from its relationship with the company or vice versa.
Naturally, most businesses must ensure that some of the measures match their planned approaches.
Kevin is going over his company’s recertification policy. Which is the best reason to recertify?
A) To audit usage
B) To enhance onboarding
C) To audit permissions
D) To manage credentials
Answer:
c. To audit permissions
Explanation:
Recertification policies are used to determine which users have access to a particular resource(s) needed to perform their jobs as decided by designated review panel or managers. It can also be said to be a reappraisal of workers and their job function and the things needed to perfrom those job functions optimally.
Cheers
Frisky Flight is a regional airline based in El Paso. Frisky uses a computer system to set prices for its tickets. The price for any given flight changes over time-based on demand for that and other similar flights, the predicted weather, and other factors. This is an example of
a. competition meeting.
b. price cutting.
c. skimming.
d. profit maximization.
e. dynamic pricing
Answer: (E) Dynamic pricing
Explanation:
The dynamic pricing is basically refers to the demand pricing and also the time based strategy where all the products and the services are setting the flexible prices for the goods according to the current demand in the marketing.
According to the given scenario, it best illustrate about the dynamic pricing example where we can easily implement the data and it also producing the meaningful information or data.
Therefore, Option (E) is correct.
If the supply of a product increases, then we would expect equilibrium pricea.to increase and equilibrium quantity to decrease. b.and equilibrium quantity to both decrease. c.and equilibrium quantity to both increase. d.to decrease and equilibrium quantity to increase.
Answer:
The correct answer is option d.
Explanation:
An increase in the supply of a product will cause the supply curve to shift to the right. This rightward shift will cause the demand curve and supply curve to intersect at a lower price.
This will cause the quantity demanded of the product to increase and the price of the product to decrease.
A decrease in the supply will cause the quantity demanded to decrease and price to increase.
The effect of supply increase is indicated through the given figure.
Daggie's Sandwiches, Inc., sells the rights to use its name and sell its sandwiches in a given market area to aspiring businesspeople who are willing to pay agreed-upon fees and meet certain contractual terms. Daggie's:A. is offering investors the opportunity to form limited partnerships B. is a franchisor. C. creates private subsidiary companies. D. offers a tax-free investment potential.
Answer:
B. is a franchisor.
Explanation:
A franchisor is a business that sells the right to use its name and sell its product to another business.
A franchisee is the business that buys the right from the franchisor.
A limited partnership is a form of partnership where one or more of the partners have a limited liability.
A subsidiary company is a company owned by the parent company.
I hope my answer helps you.
The Federal Reserve can influence the federal funds interest rate by buying securities, which ________ reserves, thereby ________ the federal funds rate
A) adds; raising
B) removes; lowering
C) adds; lowering
D) removes; raising
Answer: C) adds; lowering
Explanation:
Federal Reserve has the ability to influence the federal funds interest rate.
When the Federal reserves buys the securities (financial instruments such as marketable securities or non-marketable securities) they add reserves, which in return lowers the federal funds interest rate.
----------- are relatively homogeneous, smaller submarkets (groups) existing inside much larger and more heterogeneous markets.
a. Target markets
b. Market targets
c. Market segments
d. Markets
e. Subcultures
Answer:
(C) Market segments
Explanation:
Market is a people, a place and an economic entity. It's a group of people buying and selling and having each other's needs and wants met in a particular geographical location.
Now, market segments are groups made based on similar interests in an otherwise homogenous market within the whole heterogeneous market.
Jayson is a NY licensed salesperson. A local moving company asks Jayson to recommend his moving company to clients looking to relocate. In exchange, the mover will pay Jayson $200 for every client who moves with his company.
What type of arrangement is this?
Answer:
a sales commission agreement
Explanation:
Usually a salesperson's salary includes:
a small fixed amount plus a commission based agreement, e.g. a salesperson will earn $150 per week + 3% commission over total salesentirely based on sales' commissions, e.g. another salesperson earns 4% commissions over total salesSalespeople usually do not earn a fixed salary since sales' commissions motivate them to sell more.
In the circular flow model, _____ can firms can produce the output they sell to households only by buying.
Answer:
Resources
Explanation:
In the model of circular flow, which is an economic model, it states the flow of the money via the economy. This model shows or defined the circular flow of the income among the business sector and the household sector.
So, in this model, the firms could produce the output in order to sell the output to households, only by buying or purchasing the resources. As the resources is defined or described as the supply or the source from which the benefit is produced or created and has some utility.
Therefore, the resources are the one which is purchased and the firms could produce the output.
A major goal of integrated marketing communications is to send a consistent message to _____.
Answer:
Customers
Explanation:
The goal of integrated marketing communications is to revamp the traditional marketing approach by encouraging cohesion and synchronicity among the various modes of communication used by businesses to reach consumers/customers.
Integrated Marketing Communications (IMC) aims to send a consistent message to consumers through a coordinated use of various marketing strategies. This ensures that the impression of a company's brand or product remains consistent across all platforms.
Explanation:A major goal of Integrated Marketing Communications (IMC) is to send a consistent message to consumers. IMC aims to use all aspects of marketing communication such as advertising, sales promotion, public relations, direct marketing, and social media in a unified manner. This is to ensure that all the various marketing tools are coordinated to maximize the impact on consumers.
For example, a company using IMC may develop a message about its product and use different marketing strategies to relay that message. If the company’s message is about the product's reliability, they wouldn’t want an advertising campaign that focuses on price or a sales promotion that emphasizes its newness. The message must remain consistent across all platforms, ensuing that the company's brand and product are displayed in a similar light throughout the entire marketing campaign.
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Which statement is TRUE? a.The tradeoff a firm faces whether using retained earnings or borrowed funds is the same. b.Using retained earnings has a higher opportunity cost than does using borrowed money because retained earnings come from past profits. c.Borrowing money will always be more expensive than using retained earnings. d.The cost of retained earnings is unrelated to the cost of borrowing money.
Answer:
D
Explanation:
The cost of retained earning is unrelated to cost of borrowing money and as such it will be unreasonable to compare the two. However, it's true that retained earning comes from past profit and it will be easier to plough back retained earning than going for external borrowing.
The statement that is TRUE is option b. Using retained earnings has a higher opportunity cost than does using borrowed money because retained earnings come from past profits.
The statement that is TRUE is option b. Using retained earnings has a higher opportunity cost than does using borrowed money because retained earnings come from past profits.
Retained earnings are the funds that a company has accumulated from its previous profits. These funds can be reinvested in the company or used for other purposes. When a firm uses retained earnings instead of borrowed funds, it is forgoing the opportunity to use those funds for other investments or expansion.
On the other hand, using borrowed funds may involve interest payments, but it allows the firm to avoid using its own profits and retain control of its operations. Borrowing money can be a cheaper option in terms of opportunity cost because the firm can use retained earnings for other investments.
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Fred is the purchasing manager at Marc's Auto Body and places orders for routine products such as office supplies and items needed for service and repair of vehicles. He typically purchases tools from the Snap-on dealer and orders a variety of nuts, bolts, and hardware from Grainger. He really likes purchasing from Grainger since he can utilize their website where he has an intranet portal to easily place orders and receive a company discount. Grainger makes it easy and convenient as well by providing a list of previously purchased items that Fred can select and simply click "reorder."
What type of purchase process does Fred use when buying these items from Grainger?
A) Straight rebuy
B) Modified rebuy
C) New-task purchase
D) Contracted purchase
Answer:
A) Straight rebuy
Explanation:
Based on the information provided within the question it can be said that the purchasing process that Fred is using is called a Straight Rebuy. In a business context, this term refers to ordering supplies for the first time or as a reorder from a supplier from an approved list . This list contains suppliers that have been approved due to ease of use, good quality products, or low prices. Which in this case Grainger has all of these traits, which is why Fred prefers them.
Robin and Bellman, both merchants, orally agree to a contract for the sale of $5000 of accessories. Bellman, the buyer, sends to Robin, the seller, a written confirmation of the sale, which is sufficient against Bellman under the statute of frauds and which Bellman signs. Robin does not sign. Robin fails to perform the contract and does not ship out the goods. Bellman sues. This contract is:
a. unenforceable, because Robin did not sign any contract.
b. unenforceable, because Bellman did not pay for the goods.
c. enforceable, because Bellman sent the written confirmation of the sale, thereby partially performing the contract.
d. enforceable even without Robin's signature because both parties are merchants.
Answer:
D) enforceable even without Robin's signature because both parties are merchants.
Explanation:
Since both parties are merchants, they deal with buying and selling goods, oral contracts are valid. Under UCC law, the statute of frauds applies to contracts over $500, except when the contract is made between two or more professional merchants that are involved in regular commercial transactions. Therefore the signature of both merchants is not required.
The use of ___________ is based, in part, on the belief that the term is broader than public relations, and encompasses all communications of the company.
Answer: corporate communications
Explanation: Corporate communications relate to how businesses and organizations interact with specific stakeholders, both internally and externally. These stakeholders include,. customers, media, employees and government etc.
Based on the group being discussed, corporate communications may come in many forms. In conclusion, the communication strategy for a company would generally consist of the printed word, verbal word, and un-spoken interaction.
The communication department of an organisation is responsible for a number of duchies to be performed such as public relations and customer marketing etc.
Amber is in the process this year of renovating the office building (originally placed in service in 1976) used by her business. Because of current Federal Regulations that require the structure to be accessible to handicapped individuals, she incurs an additional $11,000 for various features, such as ramps and widened doorways, to make her office building more accessible.
The $11,000 incurred will produce a disabled access credit of what amount?
a) $0. b) $5,000. c) $5,125. d) $5,500.
Answer:
Correct option is (b)
Explanation:
Disabled access credit is granted by IRS to small business owners on expenses incurred by them in making their structure accessible for physically handicapped people. Cost incurred could be on constructing ramps for wheelchairs or providing hear aids to people with hearing impairment.
The maximum credit is $5,000 or 50% of cost not exceeding $10,250 ($250 initial cost cannot be claimed for exemption), whichever is less.
Here, Cost incurred is $11,000. So 50% (10,250 - 250) or 0.5×10,000 that is $5,000 would e Amber's disabled access credit.
Under the (GLBA) privacy rule, why is it important to differentiate between a consumer and a customer?
A. Only consumers receive a financial institution's privacy notice automaticallyB. Only consumers have any privacy rights under the lawC. Only consumers can opt outD. Only customers receive a financial institution privacy notice automatically
Answer:
D. Only customers receive a financial institution privacy notice automatically
Explanation:
Let us take an illustration of all the points, primarily A is inaccurate because simply customers acquire a financial institution's privacy note directly. B and C are unreliable because, depending on the bank's privacy practices, both consumers and customers may have rights under the law and be able to opt-out. So, the answer will be D as we know that, the Privacy Rule demands thou to provide a note to each of your "customers" regarding your privacy systems.
Under the GLBA privacy rule, differentiating between a consumer and a customer is crucial because only customers automatically receive a financial institution's privacy notice. While consumers have privacy rights, they must request the notices or become customers to receive them automatically.
Explanation:Under the Gramm-Leach-Bliley Act (GLBA) privacy rule, it is important to differentiate between a consumer and a customer because of the extent of privacy notices they receive. A consumer is an individual who obtains or has obtained a financial product or service from a financial institution for personal, family, or household reasons, but does not have a continuing relationship with the institution. A customer is a consumer with an ongoing relationship with the financial institution. This distinction matters because, according to the GLBA, only customers receive a financial institution's privacy notice automatically. Consumers, while they do have privacy rights under the law, do not receive these notices automatically unless they specifically request them or become customers by establishing a continuing relationship with the institution.
These privacy notices inform the individuals about the collection, sharing, and protection of their personal information, which is integral for transparency and trust in financial transactions. Protecting personal information is not just of concern to individuals but also to businesses, organizations, and governments that require security for their operations and data.
Money that is set aside for the normal operating activities of the city, such as the police, is referred to as the ________.
Final answer:
The money set aside for city operational activities like the police is called the General Fund, which is part of the general tax revenue used for public services.
Explanation:
Money that is set aside for the normal operating activities of a city, such as the police, is referred to as the General Fund. The General Fund comprises revenues that do not have a specific designation and are used for various public services including education, health, and human services. In the context of public safety and criminal justice, a significant portion of the money within the General Fund is allocated to maintaining essential services such as the police force and the penitentiary system.
Furthermore, these funds are crucial for supporting the operational needs of a city, which include various services that benefit the residents, like fire protection, trash removal, and others that are funded by the general tax base rather than individual payments for each service. It is the money put aside by local or state governments from the tax revenues they collect to ensure that such public services remain uninterrupted and adequately financed.
Bob read a newspaper story that indicated a dramatic increase in money market accounts and certificates of deposit during the last three months. The story reported that all other major components of the U.S. money supply remained unchanged. Based on this information, Bob can conclude that for the past quarter:
A. Both the M-1 and M-2 money supplies were stable.
B. The M-1 money supply has increased, but the M-2 money supply was stable.
C.The M-2 money supply has increased, but the M-1 money supply was stable.
D. Both the M-1 and the M-2 money supplies have increased.
Answer:
C.The M-2 money supply has increased, but the M-1 money supply was stable.
Explanation:
M1 includes currency in circulation, checkable demand deposit and travellers check.
M2 includes all components of M1 and near money. Near money includes certificate of deposit, savings deposit, mutual funds and money market funds.
I hope my answer helps you