The total revenue is $800 while the total cost is $780, and the profit is $20.The firm will continue to produce banana loaves and resources will flow towards the bakery
Explanation:
The number of loaves produced by the firm=400
Selling price per unit is $2
Revenue will be: 400*$2=$800
Total cost will be calculated as;
Labor 5 units @$40 = 5*$40=$200
Land is 7 units @$60= 7*$60=$420
Capital is 2 units @$60=$120
Entrepreneurial ability 1 unit @$20=1*$20=$20
Total cost =$(200+420+120+20)=$780
Profit= Revenue-total cost= $800-$780=$20
The firm will continue to produce banana loaves because its making a profit of $20
The resources such as labor, land and capital will flow towards the business as factors of production to produce more profit.Current resources flowing to the business are good though there is room for improvements in terms of more profits.
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What is the best way to dress at work?
Find athletic clothes that demonstrate your workplace energy level.
Pick stylish clothes that present your creativity and individuality.
Find expensive clothes that show a commitment to your work.
Pick neat clothes that present a professional appearance.
Pick neat clothes that present a professional appearance.
Explanation:
Your professional output could be the most essential thing, but your presence always makes your partners, even management, instant impression. While excentricity may be tolerated and included in some contexts, most workplaces are traditional, and you too want to be.
Your work could hang through your threads if your organization has a code of dress you don't stick to.
Proper grooming and professional appearance in the workplace are vital to achieving respect. The way you look and take yourself gives the people you work with an impression.
Your outfit must be plain in nature and should not be freely used. Avoid luxurious accessories and choose simple earrings that complement your clothes. It is advised that you carefully pick the outfit if you are in a creative environment on the job. The small details must be taken into consideration. Consider also plunging necklines and very short skirts.
It may sound silly to look at your professional appearance but it will no longer be a problem if you understand the importance. The goal of the business is not to make the person look but to make him appear bigger. It is therefore best to follow the company policy and dress appropriately.
Answer:
d
Explanation:
Which of the four functions in the management process is dedicated to arranging tasks, people, and other resources to accomplish the work?
Answer:
Organizing Function of Management
Explanation:
Organizing is proper placement of men and material on the jobs. This simply involves arranging tasks, people, and other resources to accomplish the work. The entire organization is divided into separate sections. Each section requires specialized functions to be performed, which require specialized people and other resources to complete them. Proper superior subordinate relationships with matching authority and responsibility are established.
Note- Different organization sections can be marketing, finance, procurement, production and after sales etc.
this set of factors that directly influences of firm and its competitive actions and responses; the threat of new entrants: the power of suppliers, the power of buyers, the threat of product substitutes, and the intensity of rivalry among competing firms.___________-
Answer:Intensity of rivalry among competing firms prices, product quality and promotional strategies.
Explanation:firms will compete with each other in the same market on Price changes,the quality of product offered and the promotional strategies and tools used to boost their revenue base.It is obvious that homogenous product will lesser will attract a higher sales than the others.Since they are trading the same item or commodity, any seller that sells below the market price will likely enjoy more sells than others and vice versa.
Another thing factor is the quality of the product.Rational buyers donnot just buy to satisfy their need but to also enjoy the durability and achieve maximum satisfaction from their patronage.Its therefore means that customer will not just buy any thing that looks the same but of a higher quality.This therefore creates rivalry between same firms.
Why does manufacturing matter to your daily life, even if you don't think about it much?
A. Manufacturing industries produce everything we use.
B. Manufacturing industries transport everything we use.
C. Manufacturing industries import everything we use.
D. Manufacturing industries sell everything we use.
Answer:
A. Manufacturing industries produce everything we use.
Explanation:
The word 'Manufacturing' means production ultimately enabled by man for man.
Manufacturing is the core of the entire economic activity in a nation. Without manufacturing, there will be no service sector, whose main role is to service the manufacturing sector. Both the manufacturing and service sector are 2/3rd constituents of an economic system ( Agriculture being the third ). Hence, we can say that the economic growth of a nation is dependent on the state of Manufacturing sector in the economy.
That's why manufacturing matters to me because Manufacturing industries produce everything we use, on which the entire economy functioning depends.
The correct option is (A) Manufacturing industries produce everything we use.
Manufacturing matters to our daily lives because it produces everything we use, from clothes to electronic devices. Manufacturing creates employment opportunities and contributes to the economy. It plays a crucial role in our daily lives and society.
Explanation:Manufacturing matters to our daily lives because manufacturing industries produce everything we use. From the clothes we wear to the electronic devices we use, manufacturing is responsible for creating the products we rely on. Without manufacturing, we wouldn't have the goods and items that make our lives easier and more convenient.
For example, when you wake up in the morning and put on your clothes, those clothes were manufactured in a factory. The coffee maker you use to brew your morning coffee, the phone you use to check your messages, and the car you drive to school are all produced through the manufacturing process.
Furthermore, manufacturing industries provide employment opportunities and contribute to the economy of a country. They create jobs for people in various sectors, such as production, logistics, and maintenance. Manufacturing also helps stimulate economic growth and development.
In conclusion, manufacturing plays a crucial role in our daily lives by producing the goods we use, creating employment opportunities, and contributing to economic growth.
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What is the term used to describe the responsibility of a firm's officers and directors to ensure that adequate measures are in place to minimize the effect of a disaster on the organization's continued viability?
A. Corporate responsibility
B. Disaster requirement
C. Due diligence
D. Going concern responsibility
Answer:
A. Corporate responsibility
Officers and directors of a corporation are legally bound to practice due diligence in carrying out their operations.
Barb, a single mother of five children, chooses to go to Payless Shoes to purchase her children's shoes rather than shopping at Zappos.com. This is an example of which of Porter's Five Forces?
A) rivalry among existing competitors
B) supplier power
C) threat of new entrants
D) MIS
Answer:
A) rivalry among existing competitors
Explanation:
Since Barb chooses to go to Payless Shoes to purchase her children's shoes rather than shopping at another shoe seller Zappos.com, this is an example of rivalry among existing competitors .
In Porters' five forces, Competitive rivalry measures the extent of competition between existing firms. This rivalry can trigger price wars (including price cutting) which result in limitation of profits. It also involves increased advertising costs, higher research and development on service/product improvements and innovation, etc.
Which of the following is most likely a true statement about social class?
1. Members of a social class vary drastically in their values, interests, and behaviors.
2. In the United States, the lines between social classes are fixed and rigid.
3.Social classes show distinct product preferences in areas such as clothing.
4. Wealth is a more important variable than education in measuring social class. Consumers of the same age belong to the same social class
Answer:
3) Social classes show distinct product preferences in areas such as clothing.
Explanation:
Individuals that belong to the same social class exhibit similar buying patterns, which are different than those exhibited by people belonging to other social classes.
Social class is defined by an individual's economic status and his/her social hierarchy which is based on social esteem, prestige and success. The main factor in determining the social class of an individual is wealth, but not all the people that possess a similar amount of wealth belong to the same social class.
American society is generally divided into 5 social classes: upper, upper-middle, middle, working and lower. Generally the people belonging to the upper social class possess large inherited wealth (old money), while new rich people belong to the upper-middle class even though they might have even more money.
The most likely true statement about social class is that social classes demonstrate distinct product preferences. Social classes are not rigidly fixed, and factors such as wealth, education, and occupation contribute to social class standings.
Explanation:The question refers to the nature of social class in the United States. Among the statements provided, the one that is most likely true is that social classes show distinct product preferences, such as in clothing. This is because class traits, or class markers like behaviors, customs, and consumer preferences, can vary significantly depending on one's social class.
While there is a debate over the existence of discrete social classes, most social scientists agree that society is stratified in a hierarchical manner based on factors such as wealth, education, and occupation.
The lines between social classes in the United States are often not fixed and rigid, as there is potential for social mobility. Furthermore, wealth is just one of several important variables, which also include education and occupational prestige, when measuring social class.
Over the next three years, the expected path of 1-year interest rates is 4, 1, and 1 percent. The expectations theory of the term structure predicts that the current interest rate on 3-year bond is _____.(a) 1 percent.(b) 2 percent.(c) 3 percent.(d) 4 percent.(e) 5 percent.
Answer:
B) 2 percent.
Explanation:
to calculate the expected interest rates we just add the forward rates: 4 + 1 + 1 = 6, and then divide by 3 (the number of forward rates, not the number of years): 6 / 3 = 2
The expectations theory of the term structure states that investors will predict the value of future short term interest rates using the values of current forward rates.
Suppose you need to have $57,411.00 in an account 19.00 years from today and that the account pays 14.00%. How much do you have to deposit into the account 8.00 years from today?
Answer:
You have to deposit 13584.54 dollars in 8 years in order to have 57411 dollars on your account in 19 years.
Explanation:
In order to asses the present value of furture cash flow, we need to look at the formula for present value:
[tex]PV=FV/(1+r)^n[/tex]
PV is Present Value, FV is future value, r is the interest rate, n is the number of years.
When we apply the numbers of the question, FV is 57411, r is 0.14 and n is 11 because we will put our deposit in 8 years and 19 - 8 is 11.
When we insert the numbers into the equation we get 13584.54
I hope this makes the answer clearer! :D
The _____is a personality assessment model that taps basic dimensions encompassing most of the significant variation in human personality, namely extroversion, agreeableness, conscientiousness, emotional stability, and openness to experience. A) Forte Profile B) Big Five model C) Birkman method D) Myers-Briggs Type Indicator E) Keirsey Temperament Sorter
Answer:
Big Five model
Explanation:
The Big Five model also known as the Five Factor Model (FFM) or Ocean or Canoe model is a way of grouping human behavior/traits. This behavior or traits are subject to relationship between words.
The Ocean or Canoe (OCEAN/CANOE) abbreviation is a combination of the first letters of the words of the the five(big five) traits.
Openness to experience, Conscientiousness, Extroversion, Agreeableness, emotional stability(Neuroticism). It can also be rearranged to form CANOE as well.
This five traits are also affected by the upbringing or family cultures as well. Anyone described with any of the above word is most likely to have attributes that exemplify the meaning of the words.
I hope this helps.
Final answer:
The correct answer is option B: Big Five Model.
The Big Five model is a personality assessment model that encompasses the five basic dimensions of human personality: extroversion, agreeableness, conscientiousness, emotional stability, and openness to experience.
Explanation:
The personality assessment model you have described is the Big Five model. It represents a significant approach to understand variations in human personality by identifying five broad personality traits.
These five traits are:
openness to experience, characterized by imagination and curiosity; conscientiousness, highlighting qualities like self-discipline and organization; extroversion, associated with sociability and assertiveness; agreeableness, indicating a tendency to be cooperative and pleasant; and neuroticism (also known as emotional stability), reflecting the degree of emotional stability and confidence one possesses.These traits are often remembered using the mnemonic OCEAN.
Each of these is measured on a continuum, reflecting the degree to which an individual exhibits these characteristics.
The correct answer to the question is: B) Big Five model
Skrugetech Inc. designs its jobs in such a way that each job profile has a number of tasks associated with it. The employees are also given a substantial amount of liberty to make decisions about their work as long as they fulfill other work and quality requirements. In the context of job design, Skrugetech Inc. is most likely using ________.A) job specialization
B) task rigidity
C) job enrichment
D) task identity
Answer: (C) Job enrichment
Explanation:
The job enrichment is one of the type of method that is used for motivating the employees in an organization for specific job and the various types of challenging tasks.
The main aim of the job enrichment is that it helps in creating the various types of opportunities for the recognition the skills and also the professional growth in an organization.
It also provide the various types of self management to the employees in their specific tasks or duties. According to the question, the Skrugetech Inc. is using the job enrichment for designing the jobs profiles in an organization.
Therefore, Option (C) is correct answer.
The intentional, deliberate misstatement, or omission of material facts or accounting data that is misleading and, when considered with all the information made available, that would cause the reader to change or alter his or her judgment or decision is defined by the Association of Certified Fraud Examiners as:
Answer:
Financial statement fraud
Explanation:
Financial statement fraud - it is referred to as the alternations in financial statements that are induced by the company's itself The main reason behind alternation in the financial statements is due to the mislead people dealing with finance and developed the false picture of the company's financial information.
some ways through which financial statement fraud can be done are
- by making false entries
- altering the finance statement by changing the data value
- inducing false information
______________--relationships between activities. For example, one activity may not be able to start until another has finished, or perhaps one activity is dependent on another activity starting before it can finish. We'll cover several types of dependencies next.
Answer:
FINISH TO START
Explanation:
Dependencies are types of relationships between preceding & succeeding activities .
4 Types : Finish to Start, Start to Start, Finish to Finish, Start to Finish
One activity (succeeding) can start only of the another (preceding) has finished is: FINISH TO START . Eg - Food can be cooked only if all the ingredients have been bought.
Start to Start- Preceding Activity must start before Succeeding Activity can be started ; Finish to Finish- Preceding Activity must be finished before Succeeding Activity can be finished ; Start to Finish- Preceding Activity must be started before Succeeding Activity can be finished.
What are the advantages of using capital in the production process? What is meant by the term ""division of labor""? What are the advantages of specialization in the use of human and material resources? Explain why exchange is the necessary consequence of specialization.
Answer: First, the use of capital in the production process allows companies to increase their efficiency by producing more at a lower cost and creating a need in consumers for the consumer good. The division of labor is the fragmentation or decomposition of a productive activity in more elementary tasks, as well as its distribution among different people, according to their physical strength, ability and knowledge.
The advantages of specialization clearly are that each person has different skills in which they can specialize and learn more and in this way saves time and resources by making the work groups perform their tasks much faster.
The exchange is the necessary consequence of the specialization because for example each country will concentrate on producing what it is specialized in and is more efficient, therefore it will seek to exchange the rest of the products in which they are most ineffective.
The term "division of labor" refers to the specialization of tasks within a production process where individuals or groups focus on specific tasks they are skilled at. Specialization in the use of human and material resources ensures that resources are used most efficiently. Exchange is the necessary consequence of specialization because no single entity can produce everything it needs.
Using capital in the production process offers several advantages.
Firstly, it increases productivity by allowing for the mechanization of tasks, reducing the need for manual labor, and increasing output.
Secondly, capital can enhance the quality and consistency of products, leading to higher customer satisfaction.
Thirdly, it enables businesses to scale up their operations, reach larger markets, and remain competitive.
Additionally, capital can improve safety and working conditions for employees, contributing to their well-being.
This specialization leads to several advantages. It increases efficiency as workers become more proficient in their roles, reduces training time, and minimizes errors. It also allows for economies of scale, as production becomes more streamlined and cost-effective.
Through exchange, specialized producers trade their surplus goods and services, leading to a more diverse and efficient allocation of resources, promoting economic growth, and benefiting society as a whole.
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Lilly is the price-taking owner of an apple orchard. The price of apples is high enough that Lilly is earning positive economic profits. In the long run, Lilly should expect:
Answer:
Lower the apple prices as there is entry of the new firms.
Explanation:
As Lily is the price taking owner of the apple orchid, which means that the there is only a single firm or company which is Lily, who have the right to set the price on its own as there is no influence of other firms in the market.
Due to which the price of apples is high and leads to earn the positive economic profits. But this could be short term as in the long term, there could be the entry of the new firms in the market, which will influence the price of the apples and lead to decrease in the prices as well.
A culture of leadership ______________ and ______________ is created when people at all levels genuinely expect each other to be credible, and they hold each other accountable for the actions that build and sustain credibility.
Answer:
A culture of leadership Excellence and Integrity is created when people at all levels genuinely expect each other to be credible, and they hold each other accountable for the actions that build and sustain credibility.
Explanation:
The above approach of excellence and integrity refers to adaptability and ethics amongst the employees. Excellence is something which is the maximum desired level attained whereas integrity refers to the traits of honesty and abiding by moral ethics.
Leadership excellence and integrity is when there is immense mutual trust between one people. This trust leads to genuine expectations at both ends wherein credibility and accountability is expected.
Such actions are expected by both parties which lead to a credible environment and it is desired to maintain and sustain that credibility.
A culture of leadership trust and accountability is achieved when every member of the institution expects each other to be credible and they hold each other accountable, establishing a culture of academic integrity that provides stability and beneficial outcomes.
Explanation:A culture of leadership trust and accountability is created when people at all levels genuinely expect each other to be credible, and they hold each other accountable for the actions that build and sustain credibility. This culture is established through academic integrity which builds trust, understanding, and genuine learning among the members of the organization. Order and peace are maintained through this leadership culture that is grounded in authenticity, and where faculty, administrators, resource providers, and students work together to maintain a fair and positive experience. It fosters stability and creates beneficial outcomes that extend far beyond their college career.
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Businesses earn profits by converting financial, physical, and labor resources into goods and services that satisfy consumer demands. This statement is:_____A. TrueB. False
Answer:
_A. True
Explanation:
A business makes profits by selling a product or a service at a price higher than it used to acquire it. Customers will accept to buy a product at the price the seller is offering only if the product will add value to the customer. In other words, customers will spend money if the products or services they are buying is providing a solution to their need and wants.
Businesses make money by availing solutions to customer problems at a fee. The fee is the price that customers have to pay to acquire the product and service they need. By offering the product at a higher price than the cost price, a business will make some profits.
Nearly 144 million Americans have general purpose credit cards. Approximately how many of them pay off their bill in full each month?
a) 55 million.b) 90 million.c) 115 million.
Answer:
According to facts and figures, about 55 million people who are using credit cards are paying their bills in full each month. The average family debt in America is $7500. You can find these figures in your book at page number 133.
On July 1, 2005, Lee Co. sold goods in exchange for a $200,000, 8-month, noninterest-bearing note receivable. At the time of the sale, the note's market rate of interest was 12%.
What amount did Lee receive when it discounted the note at 10% on September 1, 2005?
A. $194,000
B. $193,800
C. $190,000
D. $188,000
Answer:
Option (C) $190,000
Explanation:
Data provided in the question:
Amount of the goods sold in exchange = $200,000
Note's market rate of interest at the time of sale = 12%
Discount note on September 1, 2005 = 10%
Now,
since the note is non-interest bearing.
As of September 1, 2005, 2 months have elapsed since the original issuance of the note on On July 1, 2005
Thus,
Only 6 months are remaining of the 8 month term.
Therefore,
Discount = $200,000 × 10% × 0.5 [ as 6 months = 0.5 year]
= $10,000
Therefore,
Proceeds from the discounting = $200,000 - $10,000
= $190,000.
hence,
Option (C) $190,000
Sally received $50,000 of compensation from her employer and she received $400 interest from a corporate bond. What is the amount of Sally's gross income from these items?
A) $400
B) $50,000
C) $50,400
Answer:
C) $50,400
Explanation:
If Sally received $50,000 of compensation from her employer and she received $400 interest from a corporate bond, then the amount of Sally's gross income from these items is $50,400
Sally's income taxable is not only her employment compensation but also the interest she earns from a corporate bond is subject to income tax.
To form a unit investment trust, a brokerage firm buys a portfolio of securities which are deposited into a trust. The brokerage firm then sells to the public shares, or "units" in the trust, called___________.
Answer:
Redeemable Trust Certificates
Explanation:
A unit investment trust refers to money pooled from various investors which is further invested in a portfolio.
In most of the cases usually a brokerage firm acts as a sponsor to the issue which purchases a portfolio comprising of various securities deposited into the trust.
Then it issues or sells these securities to the public in the form of units. The people who subscribe or buy these securities are referred to as unit holders as the issued securities are referred to as units,
In return, the unit holders are issued redeemable trust certificates which means they can sell these securities as per their requirement. Usually a unit holder would redeem his units when the price of such units is higher than the price at which he had purchased those units.
Suppose the price of a substitute to lcd televisions rises. what effect will this have on the market equilibrium for lcd tvs? the equilibrium price of lcd tvs will:_________
a. increase and the equilibrium quantity will increase.
b. not change and the equilibrium quantity will not change.
c. decrease and the equilibrium quantity will increase.
d. increase and the equilibrium quantity will decrease.
e. decrease and the equilibrium quantity will decrease.
Answer:
a. increase and the equilibrium quantity will increase.
Explanation:
If the price of a substitute to lcd televisions rises, the demand for lcd tvs increase. This would lead to an increase in price and equilibrium quantity.
I hope my answer helps you.
Charles and Sarah own a home in Palm Springs, CA. During the year, they rented the house for 40 days for $5,000 and used it for personal use for 18 days. The house remained vacant for the remainder of the year. The expenses for the house included $16,000 in mortgage interest, $4,500 in property taxes, $1,000 in utilities, $1,200 in maintenance, and $9,800 in depreciation. What is the deductible loss for the rental of their home (without considering the passive loss limitation)? Use the Tax Court method for allocation of expenses.
A.$0
B. $5,000 net income
C. $17,414 net loss
D. $27,500 net loss
Answer:
Option (c) is correct.
Explanation:
Total expenses:
= mortgage interest + property tax + utilities and maintenance + Depreciation expense
= $16,000 + $4,500 + ($1,000 + $1,200) + $9,800
= $32,500
Proportionate rental expenses = $32,500 × 40 days ÷ (40 days + 18 days)
= $22,414
Rental Loss = Rental income - Proportionate rental expenses
= $5,000 - $22,414
= -$17,414
Truck #2 has a list price of $20,000 and is acquired for a down payment of $2,500 cash and a zero-interest-bearing note with a face amount of $17,500. The note is due April 1, 2018. Culver would normally have to pay interest at a rate of 9% for such a borrowing, and the dealership has an incremental borrowing rate of 8%.
Answer:
Dr Trucks 18,555
Dr Discount on Notes Payable 1,445
Cr Cash 2,500
Cr Notes Payable 17,500
Explanation:
Since the seller accepted a zero interest bearing note, that is equivalent to making a discount. To determine the discount on the note, we have to calculate the present value of the note: discount rate is 9% and present value is $17,500
present value of the note = $17,500 / (1 + 9%) = $16,055
discount on the note = $17,500 - $16,055 = $1,445
So the purchase price of the truck would be:
$2,500 down payment + $16,055 = $18,555
Using the Performance Planner on a monthly basis allows you to optimize which two aspects of an account? (Choose two.) A) KeywordsB) BidsC) BudgetsD) Ad extensionsE) Ads
Answer: The correct answers are "B) Bids" and "Budgets".
Explanation: The Performance Planner identifies the ideal budgets for Ads campaigns and generates additional conversions, giving advertisers recommendations for offers and budgets to maximize their benefits.
Using the Performance Planner on a monthly basis allows you to optimize bids and budgets.
Using Performance Planner tool monthly will allow one to optimize:
B. Bids C. BudgetsThe Performance Planner is a tool on Go0gle that one can use to monitor their advertisements.
When used monthly, it allows a person to browse through many ad auctions and bids as well as check how well the ads are doing in relation to the budget.
In conclusion, options B and C are correct.
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Effective corporate governance is essential in large corporations because corporate ownership (by shareholders) is separated from corporate control (by officers and managers). In order to improve corporate governance, most large corporations have eliminated the use of outside directors.A. TrueB. False
Answer:
False
Explanation:
Outside directors are members of the board of directors that are not employees of the corporation. While an inside director is a member of the board that is also employed by the corporation, e.g. CEO.
Corporations are separate entities form their stockholders, that is why limited liability applies to them. The board of directors doesn't have to include stockholders or employees, they usually do, but it is not required by law. Outside directors should very experienced and capable individuals that possess certain expertise that can help the corporation. Also, the board should control and supervise upper management, but if only inside directors were admitted into it, then who would control them?
Answer:
B. False
Explanation:
Corporate governance is the set of rules and regulation which is a guide to how a business is being controlled and operated. it spells out the right and acceptable processes and actions that are required of the corporation's operators at any point in time. the directors have the responsibility of enforcing it.
Corporate governance is reflected in the way the entity deals with all its stakeholders and how the operators deals with the entity. It is used to rate the wellness of an entity by outside world.
The large corporations have not eliminated the use of outside directors, instead they have instituted a very strong and enduring, corporate governance .
Customers who are classified as true believers ________. Group of answer choices are attracted to a company's competitor's deals and offers have needs and wants that do not fit a company's offerings are not very profitable for a company tell others about their good experiences with a company are projected to be less loyal to any brand
Answer:
tell others about their good experiences with a company
Explanation:
Customers who are classified as true believers tell others about their good experiences with a company. This happens because a customer decides to try a product from a specific company and ends up having such a good experience with the product that the individual gains loyalty to that product and company, and later decides to share his/her experience.
Which of the following does a firm possess when it can outperform other firms in the same industry or the industry average over a prolonged period of time?
Answer: competitive advantage (sustainable)
Explanation: when a company has sustainable competitive advantage, it means it has characteristics, attributes, features, assets etc that has set it apart from its peers, often quite difficult to reproduce setting them in a position for long term market superiority.
Corporation began the year with cash of $ 152 comma 000 and land that cost $ 33 comma 000. During the year Morton earned service revenue of $ 250 comma 000 and had the following expenses: salaries, $ 160 comma 000; rent, $ 73 comma 000; and utilities, $ 30 comma 000. At year-end Morton's cash balance was down to $ 18 comma 000. How much net income (or net loss) did Morton experience for the year?
Answer:
Net loss = $13,000 ( because expenses are greater than revenue)
Explanation:
The net income of an organisation is the positive difference between the service revenue of an organisation and the expenses of the organisation while the net loss is the negative difference between revenue and expenses meaning expenses are higher than revenue.
Net Income= Service Revenue - Expenses
Service Revenue = $250,000
Expenses= Salaries + Rent + Utilities
Expenses = $160,000 + $73,000 + $30,000= $263,000
Net Income (net loss) = $250,000 - $263,000
Net loss = $13,000 ( because expenses are greater than revenue).
Nicole owns and operates two restaurants. The revenue of the first restaurant at time t is f(t) dollars, and the revenue of the second restaurant at time t is g(t) dollars. What does the function F(t) = f(t) + g(t) represent?
A) The total revenue in dollars from both restaurants at time t.
B) The total revenue in dollars from the first restaurant at time t.
C) The total revenue in dollars from the second restaurant at time t.
D) The time t in which the total revenue of the first restaurant is greater than the second.
E) The time t in which the total revenue of both restaurants are equal.
Answer:
A) The total revenue in dollars from both restaurants at time t.
Explanation:
If the revenue from the first resutrant at time t is f(t) and the revenue from the second restaurant at time t is g(t), then the total revenue derived from both resturants at time t is the sum of both f(t) and g(t) which is equal to F(t).
I hope my answer helps you