An operating plan can be developed for any time horizon, but most companies use a 12-month horizon, with the first period being the most detailed.
A 12-month operating plan, also known as an annual operating plan, is a detailed plan that outlines an organization's goals and objectives for the upcoming year. It includes a detailed budget, revenue and expense projections, and performance metrics to track progress throughout the year.
While longer-term planning horizons, such as 5-year or 10-year plans, are important for strategic planning, a 12-month operating plan provides a more detailed and actionable roadmap for the short-term operational activities of the organization.
It's worth noting that some companies may also develop shorter-term operating plans, such as a 6-month or 3-year plan, depending on their specific needs and circumstances. However, the 12-month plan is the most common and widely used planning horizon for operating plans.
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what effect would an effective minimum wage have on a perfectly competitive market?
In a aggressive exertions marketplace, an boom within side the minimal salary reduces employment and will increase unemployment. A minimal salary may want to boom employment in a monopsony exertions marketplace on the equal time it will increase wages.
The required details for unemployment in given paragraph
The time period unemployment refers to a scenario in which someone actively searches for employment however is not able to locate paintings. Unemployment is taken into consideration to be a key degree of the fitness of the economy. The maximum regularly used degree of unemployment is the unemployment rate. It's calculated via way of means of dividing the wide variety of unemployed human beings via way of means of the wide variety of human beings within side the exertions force. Many governments provide unemployment coverage to sure unemployed people who meet eligibility requirements.
Unemployment is a key financial indicator as it alerts the ability (or inability) of employees to attain gainful paintings and make contributions to the efficient output of the economy. More unemployed employees suggest much less general financial production.
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what types of deficiencies exist when using dso and an aging schedule to monitor collections over time?
It is untrue that a company does not require an aging schedule when calculating its DSO. An essential tool for tracking current and past due accounts receivable is an aging schedule, which aids in identifying any accounts that might be in danger of not being collected.
An accounting table called an aging schedule lists the receivables of a business in chronological order according to their due dates. An aging schedule, which is frequently generated by accounting software, can assist a business determine whether its clients are paying on time. Days Sales Outstanding (DSO) is a measure of how long it typically takes for a company to recover its account receivables or convert credit sales into cash.
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A city spent $2 million to build a pedestrian bridge that has proved unsafe. The city can repair this bridge or demolish it and build a new one. If the resulting bridge would be equally attractive and useful either way, how should the $2 million already spent factor into the city's decision?
The city should ignore the $2 million, since either way it has already been spent.
What is sunk cost?Sunk cost is a cost that has already been incurred. It means that the amount has already been spent. Cost that has already been incurred should not be considered when making future economic decsions.
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1. At the start of the case, Cisco's IT systems are failing, yet no one steps forward to lead the replacement effort. Why? 2. What are the most important things Cisco did right in their ERP effort? 3. What, if anything, did Cisco do wrong? 4. Was Cisco smart or lucky with its ERP implementation?
At the start of the case, Cisco's IT systems were failing, and no one stepped forward to lead the replacement effort primarily due to the lack of a clear sense of ownership and responsibility. The decentralized structure of Cisco's organization, with multiple business units operating independently, contributed to the absence of a centralized leadership role for such a critical IT initiative.
Moreover, there was a lack of understanding and acknowledgment of the severity and urgency of the IT system issues across the organization, which further hindered the emergence of a leader.
Some of the important things Cisco did right in their ERP effort include:a) They recognized the need for a standardized and integrated IT system to improve operational efficiency and decision-making.b) They established a dedicated ERP program office with executive-level sponsorship to oversee the project.c) They conducted thorough business process reengineering to align their business practices with the capabilities of the ERP system.
Cisco can be considered both smart and lucky with its ERP implementation. They were smart in recognizing the need for an integrated system and investing in the project with executive sponsorship and a dedicated program office. They made strategic decisions such as conducting business process reengineering and prioritizing change management.
However, they were also lucky in some aspects, as they faced relatively fewer unforeseen technical challenges and were able to recover from initial delays and cost overruns. Additionally, the timing of their implementation aligned with the economic downturn, which provided an opportunity to streamline operations and improve efficiency. Overall, Cisco's ERP implementation can be attributed to a combination of smart decision-making and fortunate circumstances.
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Suppose that Felicia borrowed $10,000 from Wells Fargo to pay for college expenses and the inflation rate dropped unexpectedly. Who is likely to benefit from this change?
A. Both Felicia and Wells Fargo are likely to benefit equally from this change.
B. Wells Fargo benefits because the money being paid back has more purchasing power than expected.
C. Felicia benefits because the money she pays back has less purchasing power than expected.
D. Neither Felicia nor Wells Fargo would benefit from this change.
Suppose that Felicia borrowed $10,000 from Wells Fargo to pay for college expenses and the inflation rate dropped unexpectedly. Felicia benefits because the money she pays back has less purchasing power than expected.
Option (C) is the correct answer.
Inflation refers to the general rise in prices in an economy that reduces the value of money. Inflation can be caused by a variety of factors, including increased government spending, a decrease in taxes, and a rise in demand. When the inflation rate rises, money becomes worth less, and it takes more currency to buy the same amount of goods or services. Inflation has the following impacts: Reducing the value of cash and savings; Discouraging investment; and Increasing the expense of borrowing money. In the case of Felicia and Wells Fargo, it is beneficial for Felicia because she will be paying back the money with less purchasing power, which means that the loan's cost to her has decreased. However, for Wells Fargo, the situation is different. They are likely to benefit from this change because the money being paid back has more purchasing power than expected.
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The top-down method of estimating when the pooled experience of senior and/or middle managers are used to estimate the total project duration and cost is the _________ method.
A consensus method means the method of estimating when the pooled experience of managers are used to estimate the total project duration.
What is a consensus method?This refers to the method of determining the extent to which experts or lay people agree about a given issue.
Hence, the the method of estimating when the pooled experience of managers are used to estimate the total project duration is known as a consensus method.
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Why wouldn't the Fed want to drive nominal interest rates below zero in response to a financial crisis and recession? Multiple Choice a Negative interest rates would stimulate so much lending that it would unfairly increase banks' power in the market. b Negative nominal interest rates would cause people to withdraw their money from banks, reducing what banks could lend out to consumers and businesses. c The Fed would lose the ability to raise the interest rates above zero in the future. d Negative nominal interest rates would stimulate borrowing and spending, increasing aggregate demand.
B) Negative nominal interest rates would cause people to withdraw their money from banks, reducing what banks could lend out to consumers and businesses.
The Fed would not want to drive nominal interest rates below zero in response to a financial crisis and recession because it could lead to people withdrawing their money from banks, thereby reducing the amount that banks could lend out to consumers and businesses. This is the reason outlined in option B.
When interest rates turn negative, individuals may choose to hold physical cash instead of keeping their money in banks, as they would incur charges for depositing money in negative interest-bearing accounts.
Such cash hoarding behavior would limit the effectiveness of monetary policy, as banks would have less funds available to lend, which could hamper economic recovery. Therefore, negative nominal interest rates can have unintended consequences and may not provide the desired stimulus to the economy during a financial crisis and recession.
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A phone company determined that an increase in income does not indicate a change in a customer's phone usage. what does the analysis show?
In the given statement this company is determined that in the increasement of the income that doesn't indicate, a single change in the customer's or consumer's phone usage.
The analysis conducted by the phone company indicates that there is no correlation or relationship between a customer's income and their phone usage.
This implies that factors other than income such as personal preferences, lifestyle or other demographic factors may have a stronger influence on a customer's phone usage patterns.
The phone company may use this analysis to refine their marketing strategies and tailor their offerings based on customer preferences and behavior rather than solely focusing on income as a determining factor.
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You are serving on a jury. A plaintiff is suing the city for injuries sustained after a freak street-sweeper accident. In the trial, doctors testified that it will be five years before the plaintiff is able to return to work. The Jury has already decided in favor of the plaintiff. You are the foreperson of the jury and propose that the jury give the plaintiff an award to cover the following:
1.66 points
Skipped
(a) The present value of two years' back pay. The plaintiff's annual salary for the last two years would have been $53,000 and $56,000, respectively.
(b) The present value of five years' future salary. You assume the salary will be $59,000
eBook
per year.
(c) $180,000 for pain and suffering.
Print
(d) $25,000 for court costs.
References
Assume the salary payments are equal amounts paid at the end of each month.
If the interest rate you choose is an EAR of 11 percent, what is the size of the settlement? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
The size of the settlement, rounded to two decimal places, is approximately $552,149.22.
To determine the size of the settlement, we need to calculate the present value of the back pay, future salary, pain and suffering, and court costs. Let's break down the calculations:
(a) Present Value of Two Years' Back Pay:
Using the formula for the present value of an ordinary annuity:
PV = C × (1 - (1 + r)^(-n)) / r, Where:
C = Annual salary
r = Interest rate per period
n = Number of periods
For the first year: PV1 = $53,000 / (1 + 0.11/12)^(122) = $47,748.29
For the second year: PV2 = $56,000 / (1 + 0.11/12)^(121) = $49,671.08
(b) Present Value of Five Years' Future Salary:
Using the same formula, but for five years:
PV = $59,000 / (1 + 0.11/12)^(12*5) = $249,729.85
(c) Pain and Suffering: $180,000 (already given)
(d) Court Costs: $25,000 (already given)
Now, we can calculate the size of the settlement by summing up all the present values:
Settlement = PV1 + PV2 + PV (future salary) + Pain and Suffering + Court Costs
Settlement = $47,748.29 + $49,671.08 + $249,729.85 + $180,000 + $25,000
Settlement ≈ $552,149.22
Therefore, the size of the settlement, rounded to two decimal places, is approximately $552,149.22.
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give a short introduction of seasonal vegetable cultivation
Answer:
Seasonal vegetables are those vegetables that can not adjust all kind of temperatures. The seasonal vegetables are grown in the natural cycle of seasons when they are most suitable. For example, cauliflower only grows in winter season.
Answer:
Seasonal vegetables are those vegetables that can not adjust all kind of temperatures. The seasonal vegetables are grown in the natural cycle of seasons when they are most suitable. For example, cauliflower only grows in winter sea
son
Suppose all firms follow similar financing policies, face similar risks, have equal access to capital, and operate in competitive product and capital markets. However, firms face different operating conditions because, for example, the grocery store industry is different from the airline industry. Under these conditions, firms with high profit margins will tend to have high asset turnover ratios, and firms with low profit margins will tend to have low turnover ratios.
a. True
b. False
What is constructive criticism? Give an example
Answer:
Constructive Criticism for Performance Reviews
Below is an example of constructive criticism for an employee that does not seem as motivated on projects as before. You were always proactive in the projects you take on but I've noticed that you have taken more of a backseat in the last few projects.
Explanation:
The average selling price of a smartphone purchased by a random sample of 34 customers was $319. Assume the population standard deviation was $34. a. Construct a 90% confidence interval to estimate the average selling price in the population with this sample. b. What is the margin of error for this interval? and an upper limit of $ a. The 90% confidence interval has a lower limit of $ (Round to the nearest cent as needed.)
a. The 90% confidence interval to estimate the average selling price in the population with this sample is $308.75 to $329.25.
b. The margin of error for this interval is $10.25 and the 90% confidence interval has a lower limit of $308.75.
a. To find the 90% confidence interval to estimate the average selling price in the population with this sample:
Confidence Interval Formula: CI = X ± Z* (σ/√n)
Where,
CI = Confidence Interval
X = Sample Mean
σ = Population Standard Deviation
n = Sample Size
Z = Z-Score (Level of Confidence)
For the 90% confidence interval, the level of confidence is 0.90/2 = 0.45 (as the distribution is two-tailed)
Using the z-score table, the z-score for a level of confidence of 0.45 is 1.645.
Substitute the values in the formula:
CI = 319 ± 1.645 (34/√34)
CI = 319 ± 10.25
CI = [308.75, 329.25]
Therefore, the 90% confidence interval to estimate the average selling price in the population with this sample is $308.75 to $329.25.
b. To find the margin of error for this interval:
Margin of Error = Z* (σ/√n)
Using the z-score for a 90% confidence level from the z-score table, which is 1.645.
Substitute the values in the formula:
Margin of Error = 1.645 (34/√34)
Margin of Error = 10.25
Therefore, the margin of error for this interval is $10.25.
Hence, the 90% confidence interval has a lower limit of $308.75.
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Undocumented immigrants may not pay which type of taxes?.
Undocumented immigrants do not have any entitlement to tax advantages, despite the fact that they contribute to the tax base. Carens (2008) points out that political and economic systems take advantage of and marginalize deserving members of the community who happen to be without legal identification.
Taxes paid directly by migrants, such as income tax, national insurance, and value-added tax (VAT) on purchases, as well as shares of taxes paid by UK enterprises, are included in their contributions to the public purse (sometimes known as "revenues"). While its corporate and sales tax rates may be significantly lower than those of other nations globally, at 60%, its income tax rates are noticeably higher than those of developed nations.
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True or False. A stockbroker is always required to act in a client's best interests and is held to a fiduciary standard.
Answer: true
Explanation:
Janyell is the money person. All purchases or any funds needed for business activities have to be sent to her and approved first.
Which Function of Business is Janyell most closely
associated with?
A- accounting
B- sales
C- production
D- finance
Answer:
B?
Explanation:
All of these explain a change in long-run aggregate supply EXCEPT: changes in government spending increases in the economy. Information technology (IT) can boost efficiency in nearly everything: Markets are more efficient, an demand and aggregate supply curves of the economy be is little IT improves the design, manufacture, and supply chain of products produced. How would the impact of IT on the aggregate represented? O The long-run aggregate supply curve would shift to the right. e The long-run aggregate supply curve would shift to the left. O The aggregate demand curve would shift to the right O The aggregate demand curve would shift to the left shift of the curves. which of these s is true about shifts in aggregate demand and short-run aggregate supply) O If aggregate demand shifts left, the result will be a higher price level. O If aggregate supply shifts left, the result will be a lower price level. O If aggregate demand shifts left, the result will be a lower price level. O If aggregate supply shifts left, the result will be that the price level will not change. O Cost-push inflation causes a decline in output, an increase in price level, and an increase in unemployment During cost-push inflation, output increases and the price level decreases making it hard for producers to make money. Policymakers only have to increase aggregate demand to reduce inflation.
The impact of IT on the aggregate is that the- A. long-run aggregate supply curve would shift to the right.
What is the reason?In the given scenario, all of these explain a change in long-run aggregate supply except for changes in government spending and increases in the economy.
Information Technology (IT) has made everything more efficient. It is no exception in the field of economics. It boosts the economy's efficiency in everything. Markets become more efficient, and the demand and aggregate supply curves of the economy become little. IT improves the design, manufacture, and supply chain of products produced.The impact of IT on the aggregate would be that the long-run aggregate supply curve would shift to the right.
IT makes it easier to manufacture products, improves supply chain logistics, and makes markets more efficient. It causes an increase in the economy's productivity, which shifts the long-run aggregate supply curve to the right.Shifts in aggregate demand and short-run aggregate supplyIf aggregate demand shifts left, the result will be a lower price level. On the other hand, if aggregate supply shifts left, the result will be a higher price level.
Cost-push inflation causes a decline in output, an increase in the price level, and an increase in unemployment. During cost-push inflation, output decreases, and the price level increases.
Making it difficult for producers to make money. Policymakers need to increase aggregate demand to reduce inflation.
Hence, option a. is correct.
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3. Which type of bank card immediately deducts payment for purchases from the cardholder's
checking account?
A.)credit card
B.)debit card
C.)prepaid card
D.)smart card
Answer:
debit card
Explanation:
debit card (also known as a bank card, plastic card or check card) is a plastic payment card that can be used instead of cash when making purchases. It is similar to a credit card, but unlike a credit card, the money is immediately transferred directly from the cardholder's bank account to pay for the transaction.
Answer:
c
Explanation:
it has a certain amount that you can spend on it
Commodity Chain Analysis?
proves that social construction is relevant as a model of technological change
proves that social impacts are irrelevant to technological change
proves that technological determinism is true
proves that manufacturing is the same at all points on a technological diffusion curve
Commodity Chain Analysis is a framework used to examine the entire process of production, distribution, and consumption of a commodity. None of the given options are correct.
It emphasizes the interconnectedness and interdependence of various actors and stages involved in the production process.
1. Commodity Chain Analysis does not prove that social construction is relevant as a model of technological change. It focuses more on economic and logistical aspects of production rather than the social factors driving technological change.
2. Similarly, it does not prove that social impacts are irrelevant to technological change. Social impacts can play a significant role in shaping and influencing technological advancements.
3. Commodity Chain Analysis does not prove that technological determinism is true. It recognizes that technology is influenced by various factors, including social, economic, and political contexts.
4. It also does not support the notion that manufacturing is the same at all points on a technological diffusion curve. Manufacturing processes can evolve and change as technology advances and diffuses across different regions and contexts.
In summary, Commodity Chain Analysis provides insights into the complex dynamics of production, distribution, and consumption of commodities, but it does not directly address the validity of social construction, social impacts, technological determinism, or the uniformity of manufacturing processes.
None of the given options are correct.
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Patterson brothers recently reported an EBITDA of $7. 5 million and a net income of $2. 1 million. It had $2. 0 million of interest expense and its corporate tax rate was 30%. What was its charge for depreciation and amorization?
The charge for depreciation and amortization is $1.9 million. if the corporate tax rate was 30% for $2. 0 million of interest expense.
The given data is as follows:
EBITDA report = $7. 5 million
Net income = $2. 1 million.
corporate tax rate = 30%.
interest expense = $2 million
EBITDA allows investors to consider organizational profit after costs in light of options made about financing, tax planning, and discretionary devaluation programs.
The charge for depreciation and amortization is calculated by subtracting EBITDA from Less Interest expense and the product of the corporate tax rate. Mathematically,
The charge for depreciation = ( EBITDA - interest expense ) x corporate tax rate
The charge for depreciation = ( $7. 5 million - 2 million ) x 30%
The charge for depreciation = $1.9 million.
Therefore we can conclude that the charge for depreciation and amortization is $1.9 million.
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the lower-of-cost-or-market method of determining the value of ending inventory can be applied on an item by item, by major classification of inventory, or by the total inventory.
T/F
The statement, "The lower-of-cost-or-market method of determining the value of ending inventory can be applied on an item by item, by major classification of inventory, or by the total inventory" is true.
This method is used to determine the value of ending inventory by comparing the cost of the inventory with its market value.
It can be applied in the following ways:
1. Item by item: Each individual item's cost is compared to its market value, and the lower value is used.
2. Major classification of inventory: Inventory items are grouped into major classifications, and the lower-of-cost-or-market method is applied to each group.
3. Total inventory: The total cost of the entire inventory is compared to its overall market value, and the lower value is used.
In each case, the goal is to value inventory at the lower of cost or market value to ensure that inventory is not overvalued on the financial statements.
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How does checkout assist help improve the customers checkout experience
A customer with the help of check-out assist can scan item barcodes before paying for their total shop without needing one-to-one staff assistance.
Self-service checkouts (SCOs), also known as aided checkouts (ACOs) or self-service checkouts, are machines that allow customers to complete their own transactions from a merchant without the need for a traditional staff checkout.
Self-service checkouts are most commonly found in supermarkets, but they are also found in department and convenience stores. Most self-checkout facilities are overseen by at least one staff member, who frequently assists customers with transaction processing, price correction, or other assistance.
Therefore, checkout assist help improve the customers checkout experience.
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Some people take the early retirement option at age 62. According to the social security administration,
Answer: The workers who plan to take retirement at the age of 62 then according to the social security the concerned person will receive reduced benefit.
Explanation:
The person can take maximum benefit of retirement if he or she retires at a age of 70. At this age there are lot of benefits (delayed retirement credentials)
If someone takes a retirement at the age of 62 then he or she is taking early retirement.The person can choose to retire at an early but there will be a reduction in benefits which is approximately 30 per cent.
So, retirement at the age of 62 is early retirement according to social security retirement.
HELP!! ACCOUNTING
What is the correct order of the steps for
adjusting entries?
O A. Journalize adjusting entries. Post
adjusting entries. Gather relevant
information.
O B. Journalize adjusting entries. Gather
relevant information. Post adjusting
entries.
O C. Gather relevant information.
Journalize adjusting entries. Post
adjusting entries.
O D. Gather relevant information. Post adjusting entries. Journalize adjusting entries.
C. Gather relevant information Journalize adjusting entries. Post
adjusting entries is the correct order of the steps for adjusting entries.
What are adjusting entries?
Adjusting entries are modifications to previously written entries in your diary. They specifically check that the data you have recorded corresponds to the appropriate accounting periods.
Journal entries keep track of how money flows into, out of, and between various accounts in your business.
Making an adjustment entry ensures that the operations of your company are accurately and timely recorded. Your records will show you paying for expenses before they are actually incurred or collecting unearned earnings before you can use the money if you don't make adjustment entries.
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Tammy is the owner of British Brushes. Due to the price of paint, she has to raise the prices of her painting classes. What curve is affected and what determinant caused this change?
a. The Supply Curve shifted to the Left because the cost of inputs increased.
b. The Demand Curve shifted to the Right because of the change in consumer income
c. The Supply Curve shifted to the Right because the cost for new technology decreased
In a condition where Tammy has to increase the prices for her painting classes, the supply curve will show a shift to the left because the input costs also saw a rise. Therefore, the option A holds true.
What is the significance of input costs?Input costs can be referred to or considered as costs that are associated with the production of goods or services for a firm in the economy. A business can not grow or sustain without incurring input costs. When input costs for a firm increase, the supply curve of an economy shifts to the left.
In the above condition, when prices of paint increase, it also leads to an increase in the input costs for Tammy, and as a result of the same, the supply curve shows a shift towards the left.
Therefore, the option A holds true and states regarding the significance of input costs of British Brushes.
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Why is it important to review all pages of this document carefully? What should Anna do if she finds an error?
Reviewing all pages of a document carefully helps ensure accuracy, completeness, and professionalism. If Anna discovers an error, she should take appropriate steps to rectify it based on its significance and potential impact on the document's content and purpose.
Thoroughly reviewing all document pages ensures accurate, complete information to prevent misunderstandings, legal problems, or financial errors. It maintains coherence, logical flow, and consistency. Scrutinizing all pages detects formatting, layout, or typographical issues, upholding professionalism. In vital contexts like legal agreements or financial reports, neglecting errors can lead to significant consequences.
Upon finding an error, Anna's action depends on its significance. Minor issues like typos can be directly corrected. For substantial errors affecting meaning or legality, she should highlight and annotate the problem, documenting necessary corrections. Anna must inform relevant parties, consult supervisors or legal advisors if needed, and adhere to document review protocols. After corrections, a final review ensures accurate and error-free content.
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Which of these is not affected by a person's credit score?
A. Apartment rentals
B. Credit card rates
C. Ability to get a cell phone contract
D. Federal income tax
jayquan is a broker resolving a conflict between a buyer and seller around how escrow funds should be disbursed. to settle the conflict:jayquan seeks out an independent third party.the parties complete an informal, non-adversarial negotiation process.the conflict is resolved when the parties reach an agreement within 90 days.jayquan and his clients pursued:
Jayquan sought out an independent third party to facilitate an informal, non-adversarial negotiation process that resulted in a resolution of the conflict within 90 days.
Jayquan, as a broker, was responsible for resolving a conflict between a buyer and seller around how escrow funds should be disbursed. To settle the conflict, Jayquan sought out an independent third party to facilitate an informal, non-adversarial negotiation process.
The process involved all parties discussing the issue and coming to a resolution. The resolution was based on understanding the needs of both the buyer and seller, as well as any applicable laws or regulations.
The process included providing evidence, making arguments, and counter-arguments for each position. This process was time-limited and would result in a resolution within 90 days. Once a resolution was reached, both parties agreed to the terms, and the escrow funds were disbursed accordingly.
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Next O Cover Letters and Résumés: Mastery Test
1
Select the correct answer.
Josita is preparing a résumé for a job teaching graphic design at a high school. She wants to list the software programs she has learned. In what
section of her résumé should Josita include these programs?
OA honors
OB. activities
OC. skills
OD. experience
Reset
Submit Test
Next
If Josita is preparing a résumé for a job teaching graphic design at a high school. She wants to list the software programs she has learned. The section of her résumé that Josita should include these programs is: C. skills.
What is skills?Skills can be defined as the ability a person or an individual possess when it comes to performing or carrying out tasks. A person can tend to possess inbuilt Skills or acquired skills they known will be of important to them.
Based on the scenario the software programs was the skills that Josita acquired because she learned it, the software program should be included as part of the skills she possess in her resume as this will enables are employer to know the skills she possess.
Therefore If Josita is preparing a résumé for a job teaching graphic design at a high school. She wants to list the software programs she has learned. The section of her résumé that Josita should include these programs is: C. skills.
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There is a growing movement in the United States led by the progressive wing of the Democratic Party to have the federal minimum wage raised to $15/hr. Some people agree with the $15/hr minimum wage for the United States, while others oppose raising the minimum wage. The arguments against raising the minimum wage range from the government should not dictate salaries to it will cause low wage workers to lose their jobs since businesses cannot afford a $15/hr minimum wage.
Do you agree with a $15/hr federal minimum wage? The current federal minimum wage in the United States is $7.25/hr. Fully explain your position on this issue in 2 - 3 paragraphs.
Source: Surviving an Unlivable Wage l Full Documentary (Financial Literacy)
In my opinion, minimum wage should be increased because an increase in minimum wage would reduce poverty, increase consumer spending, and promote economic growth.
Why Should Minimum Wage be Increased?Minimum wage has not kept pace with inflation, and that the current federal minimum wage of $7.25/hr is not a living wage in most parts of the United States. A $15/hr minimum wage would provide a more realistic living wage for many low-wage workers, but there is disagreement on whether this should be achieved through federal legislation or through individual state action.
Ultimately, whether or not to raise the minimum wage is a complex issue that involves balancing the needs of workers, businesses, and the overall economy. It is important for policymakers to carefully consider the potential impacts of any minimum wage increase and to find ways to support low-wage workers without unduly burdening businesses.
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