Hair Zone manufactures a brand of hair styling gel. It is considering adding a modified version of the product-a foam that provides stronger hold. Hair Zone's variable costs and prices to wholesalers are: Current hair gel New foam product Unit selling price 2.00 2.25 Unit variable costs 85 1.25 Hair Zone expects to sell 1 million units of the new styling foam in the first year after introduction, but it expects that 60% of those sales will come from buyers who normally purchase Hair Zone's styling gel. Hair Zone estimates that it would sell 1.5 million units of the gel if it did not introduce the foam. If the fixed cost of launching the new foam will be $100,000 d the first year, should Hair Zone add the new product to its line? Why or why not?
Answers
Answer:
Should Hair Zone add the new product to its line? Why or why not?
Yes they should, since it would increase their total net income by $210,000.Explanation:
Current hair gel New foam product
Unit selling price $2.00 $2.25
Unit variable costs $0.85 $1.25
expected sales for new foam product 1,000,000 units, but 600,000 units would replace sales from current hair gel
expected sales for current hair gel if new foam is introduced 900,000 units (1,500,000 if no new product is introduced)
Alternative 1 Alternative 2 Differential
no new foam new foam income
total sales revenue $3,000,000 $4,050,000 $1,050,000
total variable costs ($1,275,000) ($2,015,000) ($740,000)
additional fixed costs $0 ($100,000) ($100,000)
total $1,725,000 $1,935,000 $210,000
Related Questions
Recruiting for field research will take a week longer than expected. However, Ria told you that the project end date is a hard deadline. What can you do?
Think of the triple constraint and remember that one of them will always have the priority. So if time is a constraint, what areas might Ria adjust to reduce
the time in the project? Write 2-3 sentences.
What do you think?
Your answer cannot be more than 10000 characters.
4. Situation 3
After the stakeholders are on the project scone Pis finde
Answers
Ria was able to adjust costs, and employ many recruitment techniques and new product ideas, technical constraints, and design considerations in order to speed up the project.
What is the time constraint in the project?Recruitment for field studies will take a week longer than expected. But Ria let you know that the project's completion date is a tight deadline. Note that given the 3 constraints, 1 of the 3 always takes precedence & she has Limited time only.In this case, a budget constraint is required to save costs.Additional ResourcesReduce project time and scope.Using Project Management ToolsTime is of the essence here. Various recruitment methods can be used to recruit within the limited time frame of field researchvirtual reality interviewsonline forums and social mediaembedding AI into websites such as LinkedIn.In this case, size is the limiting factor. Identify low-priority project components to make room for new product ideas, technical constraints, and design considerations.to know more about field study refer to:
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Jansen Company’s general ledger showed a checking account balance of $25,020 at the end of May 2021. The May 31 cash receipts of $2,460, included in the general ledger balance, were placed in the night depository at the bank on May 31 and were processed by the bank on June 1. The bank statement dated May 31, 2021, showed bank service charges of $50. All checks written by the company had been processed by the bank by May 31 and were listed on the bank statement except for checks totaling $2,010. Required: Prepare a bank reconciliation as of May 31, 2021. [Hint: You will need to compute the balance that would appear on the bank statement.]
Answers
$24,520 is the balance in a bank reconciliation as of May 31, 2021. The goal of this process is to determine the differences between the two and, as necessary, make changes to the accounting records.
What is the journal entry for bank reconciliation?When there are changes to the balance on the books, journal entries are required in a bank reconciliation. These adjustments are the result of bank statement items that were not recorded in the company's general ledger accounts.
Given
Bank Balance = $25,020
Cash Receipts = -$2460
Bank Charges = - $50
Collection = + 2010
Bank balance after reconciliation = $24,520
Bank reconciliations are an important internal control tool for preventing and detecting fraud. They also aid in the identification of accounting and banking errors by explaining the differences between the cash balances on the accounting record and the bank balance position on the bank statement.
Thus, the balance of $24,520 is shown in the bank account.
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What is one major difference between income tax and property tax?
A. Income tax is based on taxable income, while property tax is
based on gross income.
B. Income tax is progressive, while property tax is regressive.
C. Income tax is based on gross income, while property tax is based
on taxable income.
D. Income tax is regressive, while property tax is progressive.
Answers
The one of the major difference between Income Tax and property tax is Income tax is progressive, while property tax is regressive. Therefore, Option (B) is correct.
What is a Regressive Tax?Regressive Tax refers to the tax burden on the people with the low income as compared to the higher income earners. It is different from the progressive tax.
Progressive Tax refers to the higher tax liability on the higher income earners as compared to the low income earners. Their is high tax burden on the High income people.
One significant distinction between income tax and property tax is that the former is progressive while the latter is regressive. Thus option (B) is correct.
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What is meant by an integrative approach to project management? Why is this approach important in today’s environment
Answers
It entails that the organization as a whole can decide which initiatives would best progress the company and support organizational goals, carry those projects out successfully.
What is integrated approach to management?The integrated management method is a type of human management that mixes systematic management with unusual human behavior. It is a comprehensive, stage-by-stage idea built on social interactions, agile processes, and sustainable principles.
Coordination of all project components, including deliverables, activities, resources, and stakeholders, is known as project integration management. Project integration management's mission is to make sure that procedures are effective and achieve predetermined objectives.
Thus, It entails that the organization as a whole can decide which initiatives would best progress.
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Which of the following is not a systematic process of controlling?
Select one:
A.
Establishing standards and methods of measuring performance.
B.
Measuring both quantity and quality
C.
Measuring performance
D.
Determining whether performance matches the standards
Answers
Measuring both quantity and quality (option B) is not a systematic process of control.
What is controlling?Controlling is described as a process in management, and it is a vital management function. It is important to mention that in the lack of any control process, management will fail to work properly. The management will fail to formulate a plan and work and will be unable to according to the implemented plan.
Measuring just the quantity and the quality, the performance measurement is overlooked. It is the main objective of control is to work as per plan and the level of performance must be by the formulated plan. However, measuring only the quality and quantity will not lead to a systematic process of control.
It can be concluded that measuring both quantity and quality (option B) is not a systematic process of control.
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Frederic Taylor applied the scientific method to management . In many cases,this meant measuring a process to determine it optimal possible output .Discuss a time you have seen measurements used to manage a process
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Answer:
fg sheriff f hiding fh gay
Four years ago, you set up a fund to finance your plans to undertake a two-year Master’s programme in Canada. The cost of this programme including living expenses was estimated at that time to be $66,000. The average inflation rate for Canada is 3% per annum. Your plan was to invest for five years to achieve this goal. You have decided to borrow the remaining funds after five years if you do not have sufficient funds in your account. Every month, you contributed $400 to meet this objective. The funds were invested in a mutual fund with an asset allocation of 70:30 in stocks and bonds respectively. The return on the mutual was 54% per annum for each year. At the end of the fourth year, you decided to invest the funds in treasury bills for another year. You, therefore, called your investment manager to transfer all the funds into treasury bills. You instruction to the broker was to purchase 91-day treasury bills to be rolled over for a year. The discount rate for the 91-day Treasury Bill is given as 23.7280%.
a. How much would it cost you to pay for your education at the end of year 4?
b. How much would you have in your Education Fund account at the end of year 4?
c. What may have informed the decision to invest in the mutual fund and subsequently treasury bills?
d. How much will the investor be debited with to fulfill his request to purchase Treasury Bills? Assume that the amount in the mutual fund is the face value of the Treasury bill.
e. How much will you earn, in terms of the interest rate (p.a)
Answers
a. To calculate how much it would cost to pay for your education at the end of year 4, we need to account for inflation over the four-year period. Using the average inflation rate of 3% per annum for Canada, the cost of the program including living expenses would have increased to:
$66,000 x (1 + 0.03)^4 = $77,696.88
Therefore, it would cost approximately $77,696.88 to pay for the program at the end of year 4.
b. To calculate how much you would have in your Education Fund account at the end of year 4, we need to calculate the value of the mutual fund after four years of investing:
Year 1: $4,800 = ($400 x 12 months)
Value of mutual fund = ($4,800 x 1.54) x 0.7 + ($4,800 x 1.54) x 0.3 = $11,167.20
Year 2: $9,600 = ($400 x 12 months x 2 years)
Value of mutual fund = ($9,600 x 1.54) x 0.7 + ($9,600 x 1.54) x 0.3 = $22,334.40
Year 3: $14,400 = ($400 x 12 months x 3 years)
Value of mutual fund = ($14,400 x 1.54) x 0.7 + ($14,400 x 1.54) x 0.3 = $33,501.60
Year 4: $19,200 = ($400 x 12 months x 4 years)
Value of mutual fund = ($19,200 x 1.54) x 0.7 + ($19,200 x 1.54) x 0.3 = $44,668.80
At the end of year 4, the value of the mutual fund would be approximately $44,668.80.
c. The decision to invest in the mutual fund was likely informed by the desire to achieve higher returns than other low-risk investments, such as savings accounts or CDs. The asset allocation of 70:30 in stocks and bonds allowed for potential growth while minimizing risk. The decision to invest in treasury bills for the fifth year was likely motivated by a desire to preserve the capital and ensure that the funds were available when needed for the education program.
d. To purchase Treasury Bills, the investor would need to sell their mutual fund and use the proceeds to buy the Treasury Bills. Assuming the face value of the Treasury Bills is the same as the amount in the mutual fund, the investor would be debited with $44,668.80 to fulfill their request.
e. The interest rate on the 91-day Treasury Bill is given as 23.7280%. This represents the annualized yield on the Treasury Bill. Therefore, the investor would earn 23.7280% per annum on their investment in the Treasury Bills.
Rihanna Company is considering purchasing new equipment for $450,000. It is expected that the equipment will produce net annual cash flows of $60,000 over its 10-year useful life. Annual depreciation will be $45,000. Compute the cash payback period
Answers
Answer:
7.5 years
Explanation:
Payback is the period a project takes to recover its initial capital outflow.
The formula for calculating the payback period = Initial investments divide by net cash flow per period.
Payback Period = Initial Investments/ Net Cash Flow per Period
Payback period = $450,000/ $60,000
Payback period =7.5 years
Because health and safety are important in all workplaces, not just hazardous ones, what working conditions must ALL employers provide at the workplace?
A fire extinguishers and a safety ladder
B hardhats and reflective vests
C drinking water and a clean restroom
D safety goggles and a first aid kit
Answers
Drinking water is essential for employees to stay hydrated throughout the workday and maintain their overall well-being. Option C
All employers, regardless of the nature of the workplace, have a responsibility to provide certain basic working conditions to ensure the health and safety of their employees. These conditions include access to drinking water and a clean restroom.
Drinking water is essential for employees to stay hydrated throughout the workday and maintain their overall well-being. It helps prevent dehydration, which can lead to fatigue, decreased productivity, and other health issues.
Additionally, a clean restroom is necessary to maintain hygiene and sanitation standards in the workplace. Proper sanitation facilities are essential for employees' health and well-being. Clean restrooms help prevent the spread of diseases, promote good hygiene practices, and provide a comfortable and dignified environment for employees.
While items like fire extinguishers, safety ladders, hardhats, reflective vests, safety goggles, and first aid kits may be required in certain workplaces based on specific hazards, drinking water and a clean restroom are fundamental provisions that all employers should provide regardless of the nature of work.
Option C.
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5.8 Kate's base pay rate is R12.50 per hour, with overtime paid at time-and-a-half. Find her gross pay if she worked 45.5 hours Monday through Saturday. (Round your answer to the nearest cent) a. R603.13 b. R568.75 c. R613.03 d. R630.13
Answers
Kate's gross pay for working 45.5 hours Monday through Saturday is A. R 603.13.
How to find the gross pay ?First, find the regular pay to Kate assuming she worked 40 hours in the week :
Regular pay: 40 hours * R 12 . 50/ hour
= R500
The overtime pay is calculated for the hours worked in excess of 40 hours. In this case, Kate worked 5.5 hours overtime.
Then the overtime for Saturday would be:
= 5. 5 * R12.50/hour * 1.5
= R 103. 13
The total gross pay is therefore :
Total gross pay: R500 + R103.13
= R603.13
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Rosario Department Store uses a perpetual inventory system. Data for product
E2-D2 includes the following purchases.
Number of Units 50
Unit Price $10 $30
May 7
July 28
On June 1, Rosario sold 26 units, and on August 27, 40 more units. Prepare the perpetual
inventory schedule for the above transactions using (a) FIFO, (b) LIFO, and (c) moving-average
Answers
The perpetual inventory schedule using FIFO shows a balance of 64 units and a cost of goods sold of $660, using LIFO shows a balance of 64 units and a cost of goods sold of $1,980, and using the moving-average method shows a balance of 64 units and a cost of goods sold of $1,320.
To prepare the perpetual inventory schedule using FIFO, LIFO, and moving-average, we need to track the purchases, sales, and remaining inventory for the product E2-D2. Let's calculate the inventory schedule for each method:
(a) FIFO (First-In, First-Out):
Using the FIFO method, we assume that the first units purchased are the first ones sold. The perpetual inventory schedule is as follows:
Date Purchases Sales Balance Cost of Goods Sold
May 7 50 units -
June 1 26 units 24 units $10/unit * 26 = $260
July 28 - 24 units -
August 27 40 units 64 units $10/unit * 40 = $400
The balance at the end of August 27 is 64 units, and the cost of goods sold is $260 + $400 = $660.
(b) LIFO (Last-In, First-Out):
Using the LIFO method, we assume that the last units purchased are the first ones sold. The perpetual inventory schedule is as follows:
Date Purchases Sales Balance Cost of Goods Sold
May 7 50 units -
June 1 26 units 24 units $30/unit * 26 = $780
July 28 - 24 units -
August 27 40 units 64 units $30/unit * 40 = $1,200
The balance at the end of August 27 is 64 units, and the cost of goods sold is $780 + $1,200 = $1,980.
(c) Moving-Average:
Using the moving-average method, we calculate the average cost per unit based on all purchases. The perpetual inventory schedule is as follows:
Date Purchases Sales Balance Cost of Goods Sold
May 7 50 units -
June 1 26 units 24 units $20/unit * 26 = $520
July 28 - 24 units -
August 27 40 units 64 units $20/unit * 40 = $800
The balance at the end of August 27 is 64 units, and the cost of goods sold is $520 + $800 = $1,320.
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You notice that a forklift is starting to sound strange, and this typically indicates the forklift may be going bad. You do not want to stop your work because your team’s performance will suffer as a result. If you fix it now, it will take 10 minutes. However, if it breaks, it will likely take a few hours to fix
Answers
A forklift is starting to sound strange, You do not want to stop your work because your team’s performance will suffer as a result. If you fix it now, it will take 10 minutes. However, if it breaks, it will likely take a few hours to fix is soon as possible. Thus, option (d) is correct.
What is forklift?The term forklift refers to the powered industrial truck are the used in the industrial truck to load the raw material. The invention of the 20th century, was the mainly used in the industrial sector.
According to the facts of the case, When driving a loaded forklift on ramps with a 10% gradient or higher, you should always keep the cargo upward, even if it means going in reverse along the ramp. It took a few hours to correct, but it only took 10 minutes.
As a result, the significance of the forklift are the aforementioned.
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Your question is incomplete, but most probably the full question was.
How soon should repairs be made on a forklift?
a. At the next scheduled maintenance time
b. At the end of the operator’s shift
c. Whenever the forklift is not need to perform tasks
d. As soon as possible
What stock should I buy
Answers
The below two statements are related to mindfulness
a. It is not obscure or exotic.
b. It is evidence-based.
TRUE
FALSE
Answers
It is true that mindfulness is evidence based and false that it is exotic.
What is mindfulness?Mindfulness. It's an easy term to understand. It implies that the mind is entirely focused on what is taking place, what you are doing, and the environment you are moving through. That might sound insignificant, but it annoys me that we frequently stray from the topic at hand. When our mind wanders, we get disconnected from our physical selves and quickly become preoccupied with compulsive thoughts about the past or worry about the future. And it stresses us out.
However, awareness is always present to bring us back to where we are, what we are doing, and how we are feeling, no matter how far we go. It's great to give mindfulness a go for a time if you want to understand what it is. You will discover tiny variances in the meaning in books, online, audio, and video since it's difficult to put into words.
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Isaac holds one ton of perishable fruit in storage for Juice Smoothies Corporation. Juice Smoothies does not pay for the storage. Isaac sells the fruit to Kayo Beverage Company. This sale represents_____
Answers
Isaac holds one ton of perishable fruit in storage for Juice Smoothies Corp. Juice Smoothies does not pay for the storage. Isaac sells the fruit to Kayo Beverage Company. This sale represents a mitigation of damages.
Give a brief account on Mitigation of damages.Mitigation of damages is a principle of contract law that requires the victim of a contract dispute to limit the harm brought on by a breach of the agreement. In order to lessen the impact of the breach and their losses, the victim is required by law to act in a certain way. This is true even if the victim of personal injury who sustains the harm through no fault of their own is required to take reasonable precautions to stop further loss and lessen the harm's financial effects.
The court may decline to award any disproportionate damages that the victim might have reasonably avoided if they fail to minimize their losses. The victim's subsequent conduct will be taken into account by the court when deciding whether they minimized their losses in a way that a reasonable person in the same situation would have done. To avoid or lessen loss, however, mitigation of losses does not need the sufferer to take extreme steps or make big sacrifices.
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In the News Chapter 1
Is this correct?
I would appreciate any help as soon as possible. Thanks.
Answers
It is right to state that the options that is an accurate description of Dave Fishwick's model of ethical banking are:
It should be highlighted that Dave Fishwick's ethical banking strategy is centered on connecting local savers with small and medium-sized businesses in need of financing, and making loan choices based on deep personal understanding of the local circumstances rather than employing algorithms. The objective is to establish local, straightforward, honest banks operated by the community to serve the community and to challenge the established banking sector.
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HELP HELP ILL MASK BRAINLIEST
why do we have different minimum wages ?
Answers
Answer:
Higher minimum wages are most common in states with higher costs of living.
Explanation:
If you live in a smaller town the minimum wage is lower. If you live in a big city it'll more than likely be higher.
Answer:The US has tended to change the national minimum wage infrequently, with changes depending largely on the political balance of power at the federal level. ... But US states and even cities have the power to set minimum wages that are higher than the national rate.
Explanation:
Keesha Company borrows $175,000 cash on November 1 of the current year by signing a 180-day, 9%, $175,000 note
Answers
After 180 days from the borrowing date, Keesha Company must pay the lender a total of $183,219.18.
Given
Borrowing = $175,000
Rate = 9%
Time = 180 days
Assume: 365 days
Required to calculate the total repaid amount after 180 days
Interest = Borrowing x rate x time / 365 x 365
= $175,000 x 9 x 180 / 365 x 100
= $8219.18
Amount repaid = borrowing + interest
= $175,000 + $8219.18
= $183,219.18
Therefore, After 180 days from the borrowing date, Keesha Company must pay the lender a total of $183,219.18.
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What benefit does a corporation have that a partnership and a sole
proprietorship do not?
A. An unlimited life span
B. A single owner
C. The ease of starting the business
D. Fewer rules and regulations
Answers
Answer:
A. An unlimited life span
Explanation:
Corporations, unlike partnerships and sole proprietorships, are fully separate legal entities from their owners, meaning that if the owners pass away or sell their shares in the corporation, the corporation can still continue to exist.
In fact, there are corporations that are over 100 years old, a lifespan that clearly very few humans surpass, let alone when taking into account the amount of years that usually takes a person to start a corporation.
The financial statement effects of the payment of a cash dividend (on the date of payment for a previously declared dividend) include:_________.
Answers
Answer:
The financial statement effects of the payment of a cash dividend (on the date of payment for a previously declared dividend) include:_________.
a. Cash (Current Asset) is decreased.
b. Dividends Payable (Current Liability) is decreased.
Explanation:
The journal entry debits the Dividends Payable account and credits the Cash account. This reduces the dividends payable and the cash accounts respectively by the same amount. Therefore, current assets and current liabilities are decreased. The effects of the cash payment are on the Balance Sheet and Statement of Cash Flows only.
Warner Company has $196,000 of total fixed costs and sells products A and B with a product mix of 40% A and 60% B. Selling prices and variable costs for A and B result in contribution margins per unit of $8 and $4, respectively. Compute the break-even point. Enter product mix answers in decimal form. Round weighted average unit contribution margin to two decimal places, if applicable.
Answers
The break-even point of Warner Company is 3,500 units.
Here, we are going to calculate the break-even point of Warner Company.
Product Product Mix Contribution margin Weighted Average unit
[1] per unit[2} contribution margin[1*2]
A 40% $8 $3.2
B 60% $4 $2.4
Total $5,6
Formula for Break Even point is Fixed cost / Weighted average unit contribution margin
Break-even point = $196,000 / $5,6
Break-even point = 3,500 units
Therefore, the break-even point of Warner Company is 3,500 units.
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g International borrowing and lending may be interpreted as a form of a. intermediate trade. b. intertemporal trade. c. trade in services. d. unrequited international transfers.
Answers
It should be noted that International borrowing and lending may be interpreted as a form trade in services.
Trade in Services can be regarded as the sale as well as delivery of an intangible product.
This usually takes place by borrowing and lending and could be between countries.
Therefore, option C is correct because International borrowing and lending may be interpreted as a form trade in services.
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In 2018, Alpha Company had $48,000,000 in Sales/Revenues, $15,500,000 in Costs of Goods Sold (COGS), $3,600,000 in Sales, General, and Administrative (SG&A) expenses, $1,200,000 in Depreciation expenses, $550,000 in interest payment, and $4,125,000 in taxes. The firm also paid $1,900,000 in dividends to shareholders that year. By how much did Alpha Company's Retained Earnings increase in 2018? Group of answer choices $27,150,000 $1,900,000 $21,125,000 $23,025,000
Answers
Retained earnings increased by $21,125,000. (third option)
What is the increase in retained earnings?Retained earnings is net income less distributions to shareholders in the form of dividend payment.
Retained earnings = net income - dividend payment
Net income is revenue less deductions. Deductions include cost of goods sold, Sales, General, and Administrative (SG&A) expenses, depreciation, interest payment and taxes
Net income = sales - (COGS + SG&A + depreciation + interest + taxes)
$48,000,000 - ($15,500,000 + $3,600,000 + $1,200,000 + $550,000 + $4,125,000 )
$48,000,000 - 24,975,000 = 23,025,000
Retained earnings = 23,025,000 - $1,900,000 = $21,125,000
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solution for time management
Answers
Answer:
Spend less time on electronics
Explanation:
Do your work first
Create a daily schedule—and stick with it. ...
Prioritize wisely. ...
Group similar tasks together. ...
Avoid the urge to multitask. ...
Assign time limits to tasks. ...
Build in buffers. ...
Learn to say no.
Here I am again but am really in the mood;) Easy question: What hobby do you have?
Answers
How have cloud-based applications changed the way people edit documents?
Answers
We can actually deduce here that cloud-based applications has changed the way people edit documents by allowing multiple users to access, review and edit a document in real time but from different locations.
What is cloud-based application?A cloud application is actually known to be a software application that is known to be deployed in a cloud environment and not actually hosted on a local server but accessible via the internet.
Cloud computing is the technology that is changing how people store and share files. Documents can be stored in the cloud system for years and accessed from anywhere and at anytime.
We see here that with cloud collaboration multiple users can work on a document at real time.
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Which of the following is NOT a feature in the Formulas menu of the Macabacus Excel add-in? Review Later Summary Statistics Error Wrap Quick CAGR Formula Flow
Answers
The following that is NOT a feature in the Formulas menu of the Macabacus Excel add-in is Formula Flow. This is further explained below.
What is Formula Flow?Generally, The formula for the volumetric flow rate is as follows: Vf = A*v, where A is the cross-sectional area and v is the flow velocity.
In conclusion, Macabacus is an Excel add-in that has many useful features, but Formula Flow is not one of them.
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Question 1 You recently inherited investments from a relative. What resource should you use to validate the permissibility of the investments?
Answers
Liquidity is the resource that you would have to use to validate the permissibility of the investments.
What is meant by the permissibility of the investments?The investments that the Employer has designated as acceptable for using Trust assets for investment and that the Trustee has approved are referred to as Permissible Investments. In the Service Agreement, a list of the Plan's permitted investments must be included.
A financial asset is an investment in finance if it is purchased with the expectation that it will increase income or be sold at a profit at a later date.
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1. Some businesspeople believe that elimination agents and wholesalers reduce their operating expenses. Discuss the opportunity costs associated with eliminating intermediaries.
Answers
1. While eliminating intermediaries may result in reduced operating expenses, businesses need to weigh these savings against the associated opportunity costs. These costs may include the loss of expertise and value-added services, additional responsibilities and expenses, and reduced customer access to products.
Eliminating intermediaries such as elimination agents and wholesalers reduce operating expenses, but it also has associated opportunity costs that businesses need to consider. One of the primary costs is the loss of the expertise and value-added services that intermediaries offer to businesses and customers. Eliminating intermediaries may result in businesses taking on additional responsibilities and expenses such as marketing, distribution, and logistics.
This may result in the need for additional staff and resources to ensure that products reach customers on time. Furthermore, eliminating intermediaries may also result in reduced customer access to products, as intermediaries are often responsible for finding new markets and customer segments. In this case, businesses may need to invest additional resources to market and promote their products to reach new customers.
In conclusion, while eliminating intermediaries may result in reduced operating expenses, businesses need to weigh these savings against the associated opportunity costs. These costs may include the loss of expertise and value-added services, additional responsibilities and expenses, and reduced customer access to products.
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What are 2 key benefits of budgeting?
Answers
Budgeting allows for effective financial management, empowering individuals and organizations to control their finances, plan for the future, achieve goals, and enhance long-term security.
Budgeting offers several key benefits for individuals, households, businesses, and organizations. Here are two key benefits of budgeting:
Financial Control and Planning: Budgeting provides a framework for financial control and planning.
By setting clear financial goals and allocating resources effectively, individuals and organizations can have better control over their income, expenses, and overall financial situation. Budgeting allows for proactive decision-making, as it helps identify areas of overspending or potential savings, enabling adjustments and course corrections as needed.
It helps in prioritizing expenses, reducing wasteful spending, and ensuring that financial resources are allocated in line with priorities and objectives.
Goal Achievement and Future Security: Budgeting plays a crucial role in goal achievement and future security. By setting specific financial goals, such as saving for a house, education, retirement, or business expansion, budgeting helps individuals and organizations allocate resources towards these goals systematically.
It provides a roadmap for saving and investing, ensuring progress towards long-term objectives. Budgeting also helps in managing debt effectively, reducing financial stress, and building a strong financial foundation for the future.
By establishing savings and emergency funds, budgeting provides a safety net, enhancing financial resilience in case of unexpected events or economic downturns.
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