Using the conventional costing equation, the units that must be sold to earn a before-tax profit of $22,000 are d. 11,400 units.
To decide the units that must be sold to gain a before-tax benefit of $22,000, we are able to utilize the routine costing condition:
Benefit = (Unit Offering Cost × Units Sold) - (Add up to Settled Costs + (Unit Variable Taken a toll × Level of Taken a toll Driver))
In this case, the benefit is given as $22,000, the full settled costs are $200,000, the unit offering cost is $50, and the unit variable fetched can be calculated utilizing the given taken-a-toll driver information.
Let's calculate the unit variable fetched:
Unit Variable Fetched = Add up to Variable Taken a toll / Level of Fetched Driver
Add up to Variable Taken a toll = Unit Variable Taken a toll × Level of Fetched Driver
Add up to Variable Taken a toll = $30 × 1,200 = $36,000
Unit Variable Cost = $36,000 / 1,100 = $32.73 (adjusted to two decimal places)
Presently able to substitute the values into the condition and unravel for the units sold:
$22,000 = ($50 × Units Sold) - ($200,000 + ($32.73 × 1,100))
$22,000 = $50 × Units Sold - $200,000 - $36,003.30
$22,000 + $236,003.30 = $50 × Units Sold
$258,003.30 = $50 × Units Sold
Units Sold = $258,003.30 / $50
Units Sold ≈ 5,160.07
Adjusted to the closest entirety number, the units that must be sold to gain a before-tax benefit of $22,000 is roughly 5,160 units.
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According to the law of demand, what will happen as the price of a good or service decreases?
A. The demand for that good or service will decrease.
B. The demand for that good or service will increase.
C. The quantity demanded for that good or service will decrease.
D. The quantity demanded for that good or service will increase.
Company E, a diversified company, is experiencing an economic regression in its country. However, an analysis of the company showed that it could still be profitable in this economic downturn if it divested one of its business units. Which of the following businesses would Company E find it most easy to exit?
a.
the home electronics business, where the company has a large number of fixed costs
b.
the tv industry, where the company has contractual obligations with suppliers
c.
the computer software business, where investments in assets are low
d.
the computer business, where the company’s strategic commitments are long-term
Based on the information provided, the business unit that Company E would find it most easy to exit in the economic regression would be:
c. the computer software business, where investments in assets are low.Since the computer software business has low investments in assets, it implies that the company has fewer physical assets tied up in this business unit. This makes it easier for Company E to exit the software business compared to the other options.In contrast, the other options have specific factors that may make them more difficult to exit:a. the home electronics business, where the company has a large number of fixed costs: Exiting this business would require dealing with substantial fixed costs, which could make it more challenging to exit profitably.b. the TV industry, where the company has contractual obligations with suppliers: Exiting this industry may involve breaking contractual obligations with suppliers, which could result in legal or financial consequences for Company E.d. the computer business, where the company's strategic commitments are long-term: If the company has long-term strategic commitments in the computer business, exiting this sector may involve complications, such as breaching contracts or facing penalties for early termination. Therefore, considering the low investments in assets, the computer software business would likely be the easiest business unit for Company E to exit in the current economic regression.
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Can Some people give me brainliest I'll give ya'll all my points when I see it
Answer:
Explanation: why u delete all your questions that u answered for me?
International business facilitates the mobility of all of the following factors of production EXCEPT:
a) Technology
b) Capital
c) Laborers
d) Land
e) Managers
International business facilitates the mobility of all of the following factors of production EXCEPT land. This is the correct option among the given options.
What is international business?
International business is the trade of goods, services, technology, capital, or knowledge across national borders and at a global or transnational level. This can also be referred to as cross-border business, overseas business, or global business. It is characterized by the transaction between different countries, people, and different business institutions.
The factors of production are the resources required for the production of goods and services. International business is involved in the movement of all factors of production that include capital, laborers, technology and managers but it excludes land.
Technology - International business involves the transfer of technology, ideas, patents, copyrights, and licenses from one country to another. By leveraging technology transfer, businesses can gain a competitive edge and reduce research and development costs.
Capital - Capital, which is defined as investment funds, is crucial for international business as it enables firms to finance operations in foreign countries, invest in technology, research and development, and purchase raw materials.
Laborers - International business requires human resources, such as laborers and managers, to operate. Businesses must address cultural and linguistic differences, work permits and visa requirements, and adhere to local labor laws.
Managers - International businesses require skilled managers to oversee operations, plan strategies, and manage teams. They must navigate cultural and legal differences and comply with local regulations to succeed in foreign markets.
Land - International business does not facilitate the mobility of land. However, businesses must deal with laws and regulations regarding land ownership in foreign countries. They also need to purchase or lease land to establish their operations in foreign countries.
International business helps to utilize all these factors of production efficiently and effectively for producing goods and services for different countries.
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Number 2 please please help me
Answer: See explanation
Explanation:
a. Public sector simply means the sector of the economy that the government controls. Examples include the military, public education, law enforcement, etc
b. The secondary sector is the sector of the economy that is concerned with how raw materials would be processed to become finished goods. The industries in this sector include construction companies, car manufacturers, textile industries, etc.
c. The tertiary sector of the economy is the sector that is concerned with services. This sector is important because:
• it helps in the provision of basic services like health care delivery, education, etc.
• it also helps in the development of several sector in the economy such as communication, and transportation.
• it contributes a huge part to the gross domestic product of a country.
d. The reason why some ministers may want to privatize some business include
• when the resources are not being efficiently utilized and there's wastage of resources.
• to improve competition
• it also brings about increase in effectiveness and efficiency.
e. The public sector alwayw produces goods and services more efficiently than the private sector as the government always looks to tackle market failure. Apart from that, the government looks out for the welfare of the people in the society and it's main motive is not profit maximization like the private sector.
If cable companies were in a highly competitive market, we would expect: 1. deadweight loss in the market. 2. a company to be willing to sell specific channels as well as packaged options. 3. cable companies to make profits in the long run. 4. customers to be unhappy about their cable package options. 5. cable companies to force us to choose between buying a little more cable than we really need or going without cable altogether.
A highly competitive market for cable companies would likely result in reduced deadweight loss, more diverse and flexible cable package options, the potential for long-term profits, improved customer satisfaction, and tailored cable offerings to cater to individual preferences.
If cable companies were in a highly competitive market, we would expect:
Deadweight loss in the market.
In a highly competitive market, the presence of deadweight loss is less likely. Increased competition promotes efficiency and reduces market inefficiencies, leading to a more optimal allocation of resources and minimizing deadweight loss.
A company to be willing to sell specific channels as well as packaged options.
In a competitive market, cable companies would be motivated to cater to customer preferences and offer more flexible options. This could include selling specific channels or creating customized packages to meet individual needs, as companies strive to differentiate themselves and attract customers.
Cable companies to make profits in the long run.
While competitive markets may result in reduced profit margins due to pricing pressures, efficient and well-managed cable companies can still generate profits in the long run. However, the profit levels might be lower compared to those in monopolistic or less competitive markets.
Customers to have more diverse cable package options.
In a highly competitive market, cable companies would strive to meet customer demands and offer a wider range of package options. This would allow customers to have greater flexibility in choosing cable packages that align with their preferences and budget, leading to higher customer satisfaction.
Cable companies to offer more flexible and tailored cable options.
Competition would encourage cable companies to provide more flexibility in their offerings, avoiding the need for customers to choose between excessive cable packages or no cable at all. Instead, companies would focus on meeting varying customer demands by offering options that match different consumption patterns, providing a better overall experience for customers.
In summary, a highly competitive market for cable companies would likely result in reduced deadweight loss, more diverse and flexible cable package options, the potential for long-term profits, improved customer satisfaction, and tailored cable offerings to cater to individual preferences.
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Suppose you would like to pay for a course to improve your job skills, a new computer,
and a new TV. You do not have enough cash, so you consider taking out a loan to buy
at least one of them. Which one would be the best use of credit? Why? Which would
be the least use of it? Why?
Answer:
idek
Explanation:
inventory is added to the inventory records after all of the following are reconciled, except the a.receiving report. b.purchase order. c.sales invoice. d.vendor's invoice.
Inventory is added to the inventory records after all of the following are reconciled, except the sales invoice.
A sales invoice is an accounting form that a supplier of goods or services sends to a customer. It keeps track of the goods and services delivered as well as the money owing by the client and the available payment options. Between businesses and customers, particularly for larger purchases, invoices establish legally enforceable agreements.
Businesses produce invoices to request payment from customers at the conclusion of the sales process. Invoices are created at delivery or right away after for the majority of businesses. While some still utilize snail mail, most invoices today are sent by email or through billing software. This program frequently automatically notifies the business and the client when the invoice has changed, keeping both parties informed.
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a coupon bond that matures in 10 years sells for $950 with $1,000 par. the bond currently yields 6.488%. what is the bond's coupon rate if coupons are paid on a semi-annual base?
The bond's coupon rate, with coupons paid on a semi-annual basis, is 5.848%
To calculate the bond's coupon rate, we need to use the information provided:
Current bond price: $950Par value: $1,000Time to maturity: 10 yearsYield to maturity (YTM): 6.488% or 0.06488 (in decimal form)Coupons are paid on a semi-annual basis.Now, let's follow these steps to find the coupon rate:
Divide the YTM by 2 since payments are made semi-annually.
YTM (semi-annual) = 0.06488 / 2 = 0.03244
Calculate the total number of coupon payments over the bond's lifetime.
Number of payments = 10 years × 2 payments per year = 20 payments
Let C be the semi-annual coupon payment. Use the present value of bond formula:
Bond price = \(\frac{C \times (1 - (1 + YTM semi-annual)^{-n})}{ (YTM semi-annual) + Par value \times (1 + YTM semi-annual)^{-n}}\)
$950 = \(\frac{C \times (1 - (1 + 0.03244)^{-20}) }{0.03244 + \$1,000 \times (1 + 0.03244)^{-20}}\)
Solve for C, the semi-annual coupon payment.
C = $29.24
Calculate the annual coupon payment.
Annual coupon payment = 2 × $29.24 = $58.48
Find the coupon rate by dividing the annual coupon payment by the par value and converting it to a percentage.
Coupon rate = ($58.48 / $1,000) × 100 = 5.848%
The bond's coupon rate, with coupons paid on a semi-annual basis, is 5.848%.
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In recent years, progressive firms have embarked upon __________, where they will commit company resources and expertise toward helping in broad-based humanitarian situations.
In recent years, progressive firms have embarked upon co-orperate social initiaitives, where they will commit company resources and expertise toward helping in broad-based humanitarian situations. This is further explained below.
What is a firm?Generally, a firm is simply defined as a firm Professional services are provided by a firm, which might be a corporation, a private corporation.
In conclusion, Co-operative social initiatives have been more popular among progressive businesses in recent years.
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The strategy of making work interesting and motivating employees by moving them from one job to another is called job.
The strategy of making work interesting by moving them from one job to another is called job rotation.
What is job rotation?Job rotation can be defined as the way of moving an employee to work from one department to another department within the same organization or company.
Job rotation is important as it enables employee to gain more skills, experience and as well gives the employee the opportunity to work on different job roles.
Inconclusions the strategy of making work interesting by moving them from one job to another is called job rotation.
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Crop yield is the ratio of the number of bushels harvested to the number of acres used for the harvest. This year, a large farm harvested rice from 690 acres of farmland. The crop yield was 7,553 bushels per acre. Approximately how many bushels of rice were harvested? 0. 1 million bushels 5. 2 million bushels 8. 2 million bushels 10. 9 million bushels.
The step-by-step computation is solved below. Kindly go through them thoroughly with the given reference link.
Option B is the correct number od bushels of rice harvested.
Given;The crop yield per acres = 7,553
The number of acres harvested = 690
Formula\(\text{ The number of bushels harvested = Number of Acres} \) × \(\text{ Crop yield per acre}\)
Computation:
\(\text{ The number of bushels harvested = 690 Acres} \) × \(7,553\)
\(\text{ The number of bushels harvested = 5,211,570 Bushels of Rice}\)
\(\text{The Number of bushels harvested = 5. 2 million bushels} \)
Therefore, there were 5.2 million bushels harvested.
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Hugh has the choice between investing in a City of Heflin bond at 6 percent or investing in a Surething Inc. bond at 9 percent. Assuming that both bonds have the same nontax characteristics and that Hugh has a 40 percent marginal tax rate, what interest rate does Surething Inc. need to offer to make Hugh indifferent between investing in the two bonds
Answer: 10%
Explanation:
The City of Helfin bond is a municipal bond so it is tax exempt. The Surething bond is not however so the interest rate that would make Hugh indifferent is one that would equate the after tax return on the Surething bond to that of the City of Helfin.
6% = x ( 1 - Tax)
6% = x ( 1 - 0.4)
x = 6%/0.6
= 10%
__________, in the context of master scheduling, is confirmed demand for products.
a) a booked order
b) forecasted demand
c) projected ending inventory
d) dependent demand inventory
(a) a booked order.
What is Master scheduling? Master scheduling is a type of planning method that is utilized by companies to schedule their manufacturing activities. It is used in the planning and management of production activities. This approach allows businesses to develop strategies that enable them to meet the needs of their clients. Master scheduling includes inventory control, work schedule, and various other activities that aid in the efficient execution of production plans. Confirmed demand for products: When a client places an order, the order is then transformed into a confirmed demand or booked order. A booked order is, therefore, confirmed demand for products, as it is a concrete agreement between a company and its clients to deliver a specific product or service at a certain time. A booked order is based on the client's forecasted demand for a product, as well as the manufacturer's capacity to meet that demand.
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Which is a formatting characteristic of a full-block business letter?.
Answer:
In a full block business letter, every component of the letter heading, address, salutation, body, salutation, signature, identification, enclosures is aligned to the left. Also first sentences of paragraphs are not indented.
Explanation:
hope this helps
Elise purposely left Derek off the project group e-mail, hoping his lack of awareness of imminent deadlines might affect his standing on the team. Which type of workplace aggression does this represent
The type of workplace aggression that Elise's action represents is known as relational aggression. Relational aggression is a form of workplace aggression that involves intentionally damaging someone's social relationships or reputation.
By purposely leaving Derek off the project group email, Elise is trying to undermine his involvement and awareness of important deadlines, potentially affecting his standing on the team.
This type of behavior can lead to strained relationships, decreased morale, and a negative work environment. Relational aggression is a form of workplace aggression that involves intentionally damaging someone's social relationships or reputation.
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Disadvantages of choosing a job that is extremely popular or in demand
The disadvantage of choosing a job that is very popular or a job that is in high demand is that after a while such a job may become saturated or it would become monotonous.
What is a high demand job?This is the term that is used to refer to a job that the people that wpould employ labor are constantly in need of. Such a job is one that would require the people that have the qualification to opt in and get the places and the roles that they are to fill.
The issues that may arise from such a job that is in high demand is that after a period, such a job may have a lot of persons that would want to fulfil the role.
The number of qualified persons may become more than the job that is available for the people to do in the long run.
Hence this is a disadvantage. Therefore I would conclude by saying that the disadvantage of choosing a highly popular job is that the number of persons that are willing to fulfil the role may exceed the job overtime.
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whats the difference between life values and work values
Answer:
life values: are things you respect in your rights as a human
Authenticity Adventure Balance.
Bravery Compassion Challenge.
Citizenship Community Creativity.
Curiosity Determination Fairness.
Freedom Friendships Fun.
Generosity Growth Honesty.
Integrity Justice Kindness.
work values: are things you value and respect threw the service that you work with for example
Loyalty
A Strong Work Ethic.
Dependability and Responsibility.
Possessing a Positive Attitude.
Adaptability.
Honesty and Integrity.
Self-Motivated.
Motivated to Grow and Learn.
Strong Self-Confidence.
Change the state of matter is chemical change
True or false
Answer:
true
Explanation:
Net Income ($105) Charges in Working Capital $50 FCFO ($55) Disposal of PPE $40 Purchase of PPE ($67) FCFI ($27) Issuance of Stock $240 Dividend Payment ($75) Issuance of Debt $70 Debt Repayment ($33) Interest Expense ($45) FCFF $157 Total FCF $[?] Fill in the blanks on this financial statement.
The statement adds up the FCFF and FCFI to arrive at total FCF of $100.
How to fill in the blank Total FCF?The statement presents a summary of cash flows for a company. The first section starts with net income of $105 and adds back non-cash expenses such as the $50 charge in working capital to arrive at FCFO of negative $55.
The second section presents investing activities, including the $40 disposal of PPE and the $67 purchase of PPE, resulting in FCFI of negative $27. The third section covers financing activities, including the $240 issuance of stock, $75 dividend payment, $70 issuance of debt, $33 debt repayment, and $45 interest expense, arriving at FCFF of $157.
Finally, the statement adds up the FCFF and FCFI to arrive at total FCF of $100.
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The following trial balance was extracted from the books of Pit Carpets Ltd on 31 December 2021
Debit
Credit
€
€
Land and buildings
600,000
Accumulated depreciation on land & buildings
129,000
Motor vehicles
150,000
Accumulated depreciation on motor vehicles
65,332
Plant & Equipment
300,000
Accumulated depreciation on plant & equipment
112,500
Inventory as at 1/1/2021
74,250
Receivables and payables
183,250
179,750
Allowance for receivables 01/01/2021
4,350
Bank
32,400
5% long term bank loan
250,000
Retained Earnings
274,398
Ordinary Share Capital
109,500
Share Premium
4,350
Sales and purchases
465,500
825,600
Sales Returns
32,450
Purchases Returns
19,780
Administration costs
136,000
Distribution costs
38,000
Carriage inwards
16,500
Finance costs
6,250
Irrecoverable debts
4,760
2,006,960
2,006,960
The following information is available and has not been accounted for:
1. Following the completion of the annual stock take, it was confirmed that inventory at 31/12/21 was valued at €72,000
2. Depreciation is to be accounted for as follows:
Land & Buildings
2% Straight Line- To be included in Administration costs
Motor Vehicles
25% Reducing Balance- To be included im Distribution costs
Plant & Equipment
15% Straight Line- To be included in a Cost of sales
3. Insurance costs (Included in Administration costs) outstanding at the year end is €5000
4. Rates prepaid (Included in Administration costs) at the end of the year are €7,000
5. The general allowance for bad debts is to be 2% of receivables.
6. Taxation charge for the year end 2021 is €28,000 and was outstanding at the year end.
Required:
(a) Prepare the Statement of Profit and Loss for the year ended 31st December 2021
20 marks
(b) Prepare the Statement of changes in equity as at the 31st December 2021.
(b) Prepare the Statement of Financial Position as at the 31st December 2021.
(a) The Statement of Profit and Loss for the year ended December 31, 2021, shows a net loss of €17,172. The Statement of Changes in Equity reflects a decrease in retained earnings of €45,922.
(b) The Statement of Financial Position as of December 31, 2021, reveals total assets of €1,903,468 and total liabilities of €1,598,568, resulting in a net equity of €304,900.
(a) Statement of Profit and Loss:
Sales and purchases for the year amounted to €465,500 and €825,600, respectively. Deducting sales returns of €32,450 and purchase returns of €19,780, the net sales are €448,050. Administrative costs amounted to €136,000, distribution costs were €38,000, carriage inwards was €16,500, and finance costs were €6,250. The total expenses sum up to €196,750. Considering the depreciation expenses as per the given rates, the total depreciation amounts to €56,090. The irrecoverable debts amount to €4,760. Thus, the net loss for the year is calculated as follows:
Net Sales: €448,050
Total Expenses: €196,750
Depreciation Expenses: €56,090
Irrecoverable Debts: €4,760
Taxation Charge: €28,000
Net Loss: €17,172
(b) Statement of Changes in Equity:
The Statement of Changes in Equity shows the movement in the company's equity accounts during the year. Retained earnings at the beginning of the year were €274,398. Deducting the net loss of €17,172 and the taxation charge of €28,000, the retained earnings at the end of the year amount to €229,226. The ordinary share capital and share premium remain unchanged at €109,500 and €4,350, respectively. Consequently, the decrease in retained earnings is €45,172 (€274,398 - €229,226).
(c) Statement of Financial Position:
The Statement of Financial Position reflects the company's financial position as of December 31, 2021. The total assets comprise land and buildings (€600,000), motor vehicles (€150,000), plant and equipment (€300,000), inventory (€72,000), receivables (€183,250), allowance for receivables (€4,350), bank (€32,400), and prepaid expenses (€7,000). The total liabilities include accumulated depreciation on land and buildings (€129,000), accumulated depreciation on motor vehicles (€65,332), accumulated depreciation on plant and equipment (€112,500), payables (€179,750), long-term bank loan (€250,000), outstanding insurance costs (€5,000), and taxation charge (€28,000). Calculating the net equity as total assets minus total liabilities, we find the net equity to be €304,900 (€1,903,468 - €1,598,568).
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how can an insurance company minimize exposure to loss
An insurance company can minimize exposure to loss through various risk management strategies.
Firstly, proper underwriting and risk assessment help the company evaluate the potential risks associated with each policy. By identifying high-risk clients, the insurer can avoid taking on excessive risk or charge appropriate premiums to account for the increased exposure. Secondly, diversification plays a crucial role in reducing exposure. By offering various types of insurance products and maintaining a diverse client base, the company can mitigate the impact of a large loss in any single sector. This approach ensures that the overall portfolio remains stable, even if a particular industry or group experiences significant losses. Thirdly, reinsurance is another effective method for minimizing exposure. By transferring a portion of their risks to other insurers, the company can limit its potential losses and maintain financial stability. Reinsurance allows the primary insurer to share the burden of risk and reduce exposure to catastrophic events.
Lastly, continuous monitoring and updating of policies and risk assessment models are essential in managing exposure. As new trends and risks emerge, the company must adjust its underwriting guidelines, pricing models, and risk assessment techniques to stay ahead of the curve. This proactive approach helps the insurer maintain a balanced risk profile and avoid excessive exposure to loss. By implementing these strategies, an insurance company can successfully minimize its exposure to loss and ensure long-term stability and profitability.
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Name any two means of receiving employment information other than the means of mass communication. how can we receive information from these means?
Answer:
Job search websites: there are specialized websites were job positions are shared everyday. In these websites, both employers and job-seeking individuals (aspiring employees) can meet and get in contact with each other.
Job fairs: job fairs are like any other fair, with the central theme being jobs. These are events where people meet in a specific place, in order to find possible employees or employers.
The two means of receiving employment information should be job search websites and job fairs.
The following information should be considered:
Job search websites: there are specialized websites where job positions are shared everyday. In these websites, both employers and job-seeking individuals (aspiring employees) can meet and get in contact with each other. Job fairs: hese are events where people meet in a specific place, in order to find possible employees or employers.Learn more: brainly.com/question/16911495
When lily does a self-inventory, she lists her knowledge of excel, her proficiency in bookkeeping, and her training in customer service. these go under the category of:__________
When lily does a self-inventory, she lists her knowledge of excel, her proficiency in bookkeeping, and her training in customer service. these go under the category of Abilities.
What is Resume?To list their qualifications for a post, job applicants must generate a formal document called a resume. A customized cover letter that is submitted with a resume usually expresses interest in a particular job or company and draws attention to the CV's most significant information. You must send a resume if you're applying for a job with an organization that accepts more than just standard, handwritten application forms. Employers who seek for resumes make this clear in their job advertisements; those who don't ask for resumes will point you toward an application.Learn more about the Resume with the help of the given link:
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Which of the following is a true statement regarding operating costs:
They are fixed expenses.
They are not directly related to production.
They occur once or twice a year.
Only some businesses have them.
Answer:
They are not directly related to production.
Explanation:
Operating expenses are the costs incurred in running the affairs of a business on a day-to-day basis. They refer to the expenses associated with the maintenance and administration of a business. Operating expenses are also operational costs and include rent, machinery, payroll services, utilities, uniforms, and office supplies. operating cost also covers overhead expenses as well as the cost of goods sold
Sam is getting his bachelor's degree. During some of his course work, he honed his research skills and learned to
exhibit confidence while presenting to an audience. Which career has Sam most likely been preparing for?
The correct answer is Journalism
Explanation:
Journalism is one of the careers that most require the use of communicative and research skills. This is because journalists are expected to gather information about important local, national and global events, which requires the use of research skills, and later they are expected to communicate the information precisely, concisely, and confidently, which requires the use of communicative skills. In this context, the career Sam is preparing for is journalism because this is the only one from the options that would require Sam to research and then communicate information confidently.
Answer:
D. Journalism
Explanation:
PLEASE HELP
8. The International Monetary Fund, the World Bank, and the International Development Association are international organizations that
(A) keep track of world population growth
(B) make loans to developing nations
(C) limit loans and investments to nations located in certain regions
(D) have refused to help the developing nations
Answer:
answer is b (make loans to developing nations
The first insurance company in the United States was
The first insurance company in the United States was the Philadelphia Contribution ship for the Insurance of Houses from Loss by Fire, founded in 1752 by Benjamin Franklin and his associates.
The company was established in response to the frequent and devastating fires that occurred in colonial Philadelphia. Details are as follows:
Founding: The Philadelphia Contribution ship was founded on February 13, 1752, with a mission to provide financial protection to homeowners in the event of fire-related losses.
Structure: The company operated as a mutual insurance company, meaning it was owned by its policyholders rather than external shareholders. Policyholders shared the risk collectively and contributed to a common fund to cover losses.
Fire Insurance: The primary focus of the Contributions hip was fire insurance. It offered policies to homeowners to protect their houses, buildings, and other property from fire-related risks.
Premiums and Policies: Policyholders paid premiums to the company based on the value of their insured property. In return, they received a policy that detailed the terms and conditions of their coverage.
Growth and Legacy: The Philadelphia Contribution ship played a significant role in shaping the insurance industry in the United States. It set a precedent for the establishment of other insurance companies across the country.
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How can buisness decision affect the local community??
Answer:
Small businesses will also participate and volunteer their time at fairs and festivals, working to connect with members of the community while sharing their services to a large audience.Local businesses pay local taxes, bolstering the city revenue available for improvements to roads, schools, and area green spaces. When shoppers spend their money locally, the taxes they pay benefit their community and better their own lives. Shopping online, for example, may not keep tax revenue local.
When the price of oranges increases, Jack buys more apples and fewer oranges. The decrease in the quantity demanded for oranges and the increase in the quantity demanded for apples is an example of the
The decrease in the quantity demanded for oranges and the increase in the quantity demanded for apples is an example of the substitution effect.
What is the substitution effect?The substitution effect illustrates how a change in the price of a good affects the quantity demanded of the good and the demand of substitute goods.
When the price of oranges increases, it becomes more expensive relative to apples. As a result, consumers buy more apples and less oranges. This leads to a movement up along the demand curve for oranges.
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