If a company purchases equipment costing $4,900 on credit, the effect on the accounting equation would be?
Answers
If a company purchases equipment costing $4,900 on credit, the effect on the accounting equation would be an increase in both assets and liabilities. Specifically, the company's assets would increase by $4,900, representing the new equipment, and its liabilities would also increase by $4,900, representing the amount owed on credit for the equipment.
When a company purchases equipment on credit for $4,900, it has a direct impact on the accounting equation. The effect would be an increase in both assets and liabilities. The company's assets would increase by $4,900, reflecting the addition of the new equipment to its balance sheet.
At the same time, its liabilities would also increase by $4,900, representing the amount owed to the creditor for the equipment. This transaction demonstrates the dual nature of the accounting equation, where any increase in assets must be accompanied by an equal increase in liabilities to maintain the equation's balance.
Overall, the company's total assets and liabilities would increase by $4,900 due to this purchase on credit.
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Related Questions
Arnold buys a backhoe from Big Dig Equipment Inc. Arnold is unaware that Credit Collection Company holds a lien against the backhoe when he buys it. If Credit Collection repossesses the backhoe, Arnold can
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Answer:
recover from Big Dig for breach of warranty.
Explanation:
I. The given instance Arnold makes a purchase of a backhoe from Big Dog Equipment, being unaware that Credit collection company is holding a lien on the equipment.
A lien is the ability of a entity to take ownership of a property pending when a debt is repaid.
The backhoe was sold without disclosing this to Arnold. So he can recover from Big Daddy because false information about the product was provided at the time of purchase
Budgets are used for two distinct purposes: ______ and ______. Multiple choice question. benchmarking; integrating executing; overseeing advising; consulting planning; control
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Budgets are used for two distinct purposes which include planning and control.
What is a Budget?This is a spending plan for a particular purpose which is usually based on income and expenditure.
The main functions of a budget is to ensure planning and control of the funds so as to ensure it is adequately used for the projects or activities involved.
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What is one major function of retail banks?
A. Keeping all deposits in reserve at all times
B. Offering loans that use car titles as collateral
C. Providing credit and debit cards to customers
D. Managing the payroll of major corporations
SUBMIT
Answers
Answer:
The role of retail banking is to help individual consumers manage their money, gain access to credit, and deposit their money in a secure way.
Explanation:
Providing credit and debit cards to customers is a major function of retail banks. Hence, the correct answer is option C.
What are retail banks?Retail banks are financial institutions that provide banking services to individuals and small businesses. These services include deposit accounts, such as savings and checking accounts, as well as loans, mortgages, credit and debit cards, and other financial products.
Providing credit and debit cards to customers is a major function of retail banks because it allows customers to make purchases without the need for cash and helps facilitate online and mobile payments. Credit and debit cards also generate revenue for retail banks through fees and interest charged on balances, making them an important source of income for banks.
Hence, providing credit and debit cards to customers is a major function of retail banks. Therefore, the correct answer is option C.
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Mary is a stay-at-home mother whose husband died. She has two small
children to care for, and her husband was the primary wage earner for their
family. What Social Security benefits would care for Mary and her children?
A) retirement benefits
B) disability benefits
C) survivor’s benefits
D) worker’s compensation
Answers
Answer:
The answer that I think would be correct is option C (survivors benefits)
Explanation:
Retirement benefits definition: a form of social insurance payment made by the US Social Security (for age 62 and older) considering that Mary has two small kids, she probably isn't that old.
Disability benefits: in order to be eligible, you have to be unable to do regular or customary work for at least right days. Considering the fact that Mary is a stay at home mother then she wouldn't be employed.
Survivors benefit: this allows a retiree to ensure after death, a continuous lifetime annuity for their dependents.
Workers compensation: provision of benefits to employees who suffered work related injuries. Mary's husband most likely didn't die in the work place.
when firms know who their rivals are and who their rivals' customers are
Answers
When firms know who their rivals are and who their rivals' customers are, they are better equipped to engage in effective competitive analysis and customer targeting.
Knowing one's rivals allows a firm to assess their strengths, weaknesses, strategies, and market positioning. By understanding their competitors, companies can identify areas where they can differentiate themselves, capitalize on market gaps, or improve their own offerings. This knowledge helps in formulating competitive strategies and making informed business decisions.
Furthermore, having insights into their rivals' customers enables firms to identify potential target markets or customer segments. By understanding the preferences, needs, and behaviors of their rivals' customers, companies can tailor their marketing efforts and develop value propositions that resonate with these specific customer groups. This targeted approach increases the chances of attracting customers away from rivals and gaining a competitive edge.
Overall, awareness of rivals and their customers provides valuable information for competitive analysis and targeted marketing, allowing firms to make strategic decisions that can help them thrive in the marketplace.
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What is the lowest price a company would want to charge for its product?
Question 60 options:
A)
The cost of the product
B)
The amount dictated by intersection of supply and demand curves
C)
The amount consumers are willing to pay
D)
The average price charged by competitors
E)
The amount charged by the lowest priced competitor
Answers
The lowest price a company would want to charge for its product is the cost of the product. Thus, option A is correct.
The practice of choosing strategic price points to take advantage of a product- or service-based market in relation to competition is known as competitive pricing. Since services might differ from business to business but a product's features stay the same, firms offering identical items tend to utilize this pricing strategy more frequently.
This kind of pricing approach is typically employed once a product or service's price has stabilized, which happens when the product has been on the market for a considerable amount of time and has a wide range of replacements. The practice of choosing strategic price points to take advantage of a product- or service-based market in relation to competition is known as competitive pricing.
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Fill the Blank ,the account allowance for uncollectible accounts normally has a _______
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The account allowance for uncollectible accounts normally has a "Credit Balance". Accounts receivable that may not be collected are estimated and recorded using the account allowance for uncollectible accounts.
Sometimes referred to as the allowance for questionable accounts, which is a contra-asset account. The balance sheet shows the allowance account as a decrease from accounts receivable, which represents the anticipated net amount of client payments. Because it lowers the amount of accounts receivable that are recorded on the balance sheet, the allowance account typically has a credit balance. The allowance account balance is deducted and the accompanying accounts receivable balance is credited when a certain account is determined to be uncollectible.
Accounts receivable that may not be collected are estimated and recorded using the account allowance for uncollectible accounts, sometimes referred to as the allowance for questionable accounts, which is a contra-asset account.
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which statement is an example of a project assumption?
Answers
"Assumption: The construction project will be completed within the estimated timeline of six months."
An example of a project assumption statement could be:
"Assumption: The construction project will be completed within the estimated timeline of six months."
In project management, assumptions are statements that are taken for granted or presumed to be true for the purpose of planning and executing a project. These assumptions are made based on available information, historical data, expert judgment, or prior experience. They serve as the foundation upon which the project plans and strategies are developed.
In the given example, the assumption states that the construction project will be completed within a specific timeline of six months. This assumption implies that factors such as resource availability, weather conditions, and potential unforeseen delays are considered manageable and will not significantly impact the project's timeline. It allows project managers to establish their project schedule, allocate resources, and plan subsequent activities based on this assumption. However, it is important to regularly review and validate assumptions throughout the project lifecycle to ensure they remain valid and adjust plans if necessary.
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Can a fixed-rate mortgage go up?
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In essence, the mortgage's interest rate will not vary throughout the loan's term, and the borrower will continue to make equal monthly payments for interest and principal.
Do fixed mortgage rates ever increase? A home loan option with a fixed interest rate for the duration of the loan is known as a fixed-rate mortgage.In essence, the mortgage's interest rate will not vary throughout the loan's term, and the borrower will continue to make equal monthly payments for interest and principal.Naturally, if you have a fixed-rate mortgage, the increase in interest rates won't have any effect on your loan; your interest rate and monthly payment will stay the same.But if you have an ARM, rising interest rates could increase your monthly payment, and new home loans with fixed mortgage rates might cost more overall.To learn more about mortgage refer
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Your company is looking at purchasing a front-end loader and has narrowed the choice down totwo loaders. Loader 1 costs $150,000 with a useful life of seven years with a salvage value of
$10,000 at the end of the seventh year. Loader 2 costs $110,000 with a useful life of five years
with a salvage value of $10,000 at the end of the fifth year. The annual profit for either one is
$20,000. Using a MARR of 20%, which alternative should your company buy?
Answers
Based on the provided information and a minimum attractive rate of return (MARR) of 20%, the company should choose Loader 1 over Loader 2 for purchase.
To determine the better option, we need to calculate the present worth (PW) of each loader and compare them. Loader 1 has a useful life of seven years, and Loader 2 has a useful life of five years.
Both loaders have a salvage value of $10,000 at the end of their respective lifespans.
For Loader 1, the initial cost is $150,000, and the annual profit is $20,000.
Using the MARR of 20%, we can calculate the annual equivalent worth (AE) of the annual profit using the formula AE = (Annual Profit - Salvage Value) / (1 + MARR)^n, where n is the number of years. Substituting the values, AE1 = ($20,000 - $10,000) / \((1 + 0.20)^7\)= $9,090.91.
For Loader 2, the initial cost is $110,000, and the annual profit is also $20,000. Similarly, calculating the AE, we get AE2 = ($20,000 - $10,000) / (1 + 0.20)^5 = $10,909.09.
To find the PW, we multiply the AE by the appropriate factor: PW = AE * (1 + MARR)^n. For Loader 1, PW1 = \($9,090.91 * (1 + 0.20)^7\) = $53,527.19. For Loader 2, PW2 = $10,909.09 * (1 + 0.20)^5 = $55,114.80.
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whether the economy is in a recession is illustrated in the ad/as model by how close the _____________________ is to the potential gdp line.
Answers
Answer:
The answer is equilibrium
Explanation:
Whether the economy is in a recession is illustrated in the ad/as model by how close the equilibrium is to the potential gdp line.
how can you say that office is an information centre?
Answers
Answer:
hope this helps
Explanation:
An office is an information center which provides information relating to business transactions. Such information is very useful. It is used by management for the purpose of planning, organizing, staffing, directing and controlling.Information Center: The office serves as an information centre. It collects information from sources like invoices, letters, memos, agreements, vouchers etc., and protects them in safe mode on the basis of their importance for future reference.It is used by management for the purpose of planning, organizing, staffing, directing and controlling. Office not only keeps record of information but also plays the role of reliable channel of communicating the information. It is required for smooth functioning of the organization.
Answer:
Explanation:
I think information centre is designed specifically for storing, processing, and retrieving information for dissemination at regular intervals. if the office is doing so then you can say that it is information centre.
the yield to maturity is the discount rate at whicha bondspromised payments equal its
Answers
The yield to maturity (YTM) is the discount rate at which a bond's promised payments equal its current market price.
It is a measure of the bond's return on investment and is used by investors to compare the profitability of different bonds. The YTM takes into account the bond's current market price, its face value, the coupon rate, and the time until maturity. By calculating the YTM, investors can determine the bond's true yield and make informed investment decisions. It is important to note that the YTM is an estimate and may not accurately reflect the bond's actual return, especially if the bond is called or sold before it reaches maturity.
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Mangroves and coral reefs are examples of ________ in the ocean.
Answers
Answer: I hope this is helpful
Explanation:
Sea is the answer because it shows that what apart of I think this is the answer
Mangroves and coral reefs are examples of marine ecosystem in the ocean.
What is an ecosystem?An ecosystem is a group or community of living organisms with the non-living components and their interaction with each other and the surrounding environment.
An ecosystem is a structural and functional unit of ecology where the living organisms interact with each other and their surrounding environment.
The structure of an ecosystem is characterized by the organization or interaction of both biotic and abiotic components. It includes the distribution of energy in the environment and also the climatic conditions prevailing in that particular environment.
Like mangroves and coral reefs are examples of marine ecosystem in the ocean.
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Cain Company reports net cash provided by operating activities of $35,000. It also reports the following information under “Adjustments to reconcile net income to net cash provided by operating activities” on its statement of cash flows (using the indirect method).
Answers
It can be seen from the solutions given that Cain's net income is $24,000.
Here is the solution:Net income = Net cash provided by operating activities - Adjustments
= $35,000 - $6,000 - $10,000 + $4,000 + $7,000 + $4,000
= $24,000
Therefore, Cain's net income is $24,000.
Here is a breakdown of the adjustments:
To determine cash flow from operations, it is necessary to include the gain on equipment sales in the net income as it is a non-cash entry.
A rise in accounts receivable implies that customers are prolonging payment of their invoices, resulting in decreased cash flow from the company's activities.
The depreciation expense is classified as a non-cash expense, hence it must be included in the calculation of cash from operations by adding it back to the net income.
A decrease in inventory indicates that the company is experiencing faster turnover of its inventory, leading to increased cash flow generated by its operations.
A rise in prepaid expenses denotes that the company is channeling more funds towards prepaid expenditures like insurance and rent, implying a reduced cash inflow from its operational activities.
A decline in the amount of wages that the company owes indicates that it is not promptly compensating its workforce. Consequently, this implies that the company's operational cash flow is reduced.
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What is the difference between using an action button to play an audio file via 'play sound' and an audio clip set up through the Media Group?
Answers
Answer: The action button lets users play the audio file, the sound button will play an audio clip.
Explanation:
The action button lets users play the audio file once it is clicked or has a mouse over action over the assignment button. The sound button will play an audio clip that you have specified in the action settings dialog box.
in October 2001 president George w bush gave directions to establish the office of homeland security and the homeland security council. what is this an example of? A. treaty B. executive order C. agency regulation D.Statute
Answers
Answer:
agency regulations i think
Assume+shamrock+estimates+bad+debts+based+on+5%+of+the+accounts+receivables+ending+balance+(as+of+dec.+31,+20x2).+determine+bad+debt+expense+for+20x2.+$_____________________
Answers
The Bad Debt Expense for 20x2 is $45,250.
To calculate the Bad Debt Expense for 20x2, we need to determine the ending balance of Accounts Receivable and apply the estimated bad debts percentage.
Step 1: Calculate the ending balance of Accounts Receivable:
Beginning Accounts Receivable = Accounts Receivable - Allowance for Doubtful Accounts
Beginning Accounts Receivable = $850,000 - $46,750 = $803,250
Credit Sales during 20x2 = 80% of Total Sales
Credit Sales during 20x2 = 80% * $3,125,000 = $2,500,000
Cash Collections during 20x2 = $2,400,000
Ending Accounts Receivable = Beginning Accounts Receivable + Credit Sales - Cash Collections - Write-offs
Ending Accounts Receivable = $803,250 + $2,500,000 - $2,400,000 - $52,100 = $851,150
Step 2: Calculate the Bad Debt Expense for 20x2:
Bad Debt Expense = Ending Accounts Receivable * Bad Debt Percentage
Bad Debt Expense = $851,150 * 5% = $42,557.50 ≈ $45,250 (rounded)
Therefore, the Bad Debt Expense for 20x2 is $45,250.
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At December 31, 20x1, Shamrock, Inc. reported the following information on its balance sheet: Accounts Receivable $850,000 Allowance for Doubtful Accounts 46,750 (credit) During 20x2 the company recorded sales of $3,125,000, of which 80% were on account. They had cash collections of their accounts receivable of $2,400,000 and wrote off as uncollectible $52,100 of accounts. Assume Shamrock estimates bad debts based on 5% of the Accounts Receivables ending balance (as of Dec 31, 20x2). Determine Bad Debt Expense for 20x2
At what level do employees develop, control, and maintain core business activities required to run the day-to-day operation?
Answers
Operations at the operations level, employees develop, manage and maintain the core business activities necessary for ongoing operations.
What is the Operational Level?
The operational level deals with the use of military force on the battlefield or area of operations to gain an advantage over the enemy and thereby be strategic. Goals through campaign design, organization, execution, and larger operations.
What is the operational degree of management?
Operations management is short-term management. It concerns the management and organization of the company's day-to-day activities. Operations management is also known as middle management. This form of management complements strategic management and top management based on a long-term vision.
What is operational level selection making?
Operational decisions are short-term decisions, typically made on a weekly, daily, or hourly basis, focusing primarily on operational details, daily resource allocation, inventory management details, and supply planning. , ensuring operational efficiency and optimal product flow in line with biomass.
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leah prefers babysitting over working at the ice cream shop. what is the maximum number of hours she can babysit in a month to be able to earn at least $120 for that month? give your answer to the nearest whole hour. enter your answer in the box.
Answers
A maximum of 8 hours can be worked by Leah to earn $120.
Given that Leah prefers babysitting over working at the ice cream shop, we can find out the maximum number of hours she can babysit in a month to earn at least $120 for that month.
The hourly rate of babysitting is not given in the question. Let's assume that Leah earns $x per hour for babysitting.
To earn at least $120 in a month, she must work for at least:
$120/x hours
Let's round up to the nearest whole number since the question asks for the maximum number of hours Leah can work.
So, the maximum number of hours Leah can babysit in a month to earn at least $120 is given by:
$120/x (round up to the nearest whole number)
Therefore, her maximum number of hours will be:
$120/x = 8 hours.
So, Leah can work for a maximum of 8 hours in a month to be able to earn at least $120.
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Specialty Products Company has a high turnover rate among its employees, especially those
who are young parents. Solution to this problem
Answers
The company has to first investigate the reason why young parents are leaving the company. This is the first step towards resolving the issues of high turnover.
If it is because of the inability to care for their kids while at work, then the company can solve this problem by:
Turnover in human resources refers to the act of replacing one employee with a new employee. Termination, retirement, death, interagency transfers, and resignations are examples of separations between organizations and personnel.
Turnover in human resources refers to the act of replacing one employee with a new employee. Termination, retirement, death, interagency transfers, and resignations are examples of separations between organizations and personnel.
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Give an example of a specialist external agency that a café could use to advertise for an accountant in their head office.
Answers
Answer:
A finance reporting accountant prepares periodic financial statements required for external reporting. They collect and analyze financial data, ensuring that all reporting complies with SEC and GAAP reporting regulations and guidelines. They also prepare internal reports as required.
Explanation:
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The total greenhouse gas emissions generated by people, things, events, or groups are called _____ footprints.
Answers
The answer is carbon footprints I think
What term refers to the process of continuously testing and improving out different versions of the product with customers to find the one that offers the greatest value? recurring methodology political methodology contract methodology lean methodology
Answers
Answer: Lean six sigma
Explanation: Lean Six Sigma is a process improvement methodology designed to eliminate problems, waste and inefficiency, and improve working conditions to better meet customer needs.
It combines Lean and Six Sigma tools, methodologies, and principles into a common and powerful methodology for improving your company's operations.
The team-centric approach of Lean Six Sigma has resulted in maximizing efficiency and dramatically improving profitability for organizations around the world.
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The exchange rate between non-fixed currencies continuously fluctuates. The following chart shows the exchange rate of the pound sterling to the Japanese yen over a period of six days. Day £:¥ Monday 1:141.014 Tuesday 1:138.650 Wednesday 1:149.890 Thursday 1:144.209 Friday 1:148.176 Saturday 1:143.008 Tina has £72.90 to turn into yen. How much greater is the amount of yen she would receive if she made her trade on the most favorable day than if she made her trade on the least favorable day
Answers
Answer: D
Explanation: just took it
The greater the amount she would receive if she traded on the most favorable day as opposed to the least favorable day is ¥819.396.
What is the difference in the value of the trade?Exchange rate is the amount of one currency that is traded for another currency.
The most favorable time that the trade can be executed in when the yen has the highest value while the most unfavorable time the trade can be executed is when the yen would have the lowest value.
Most favorable trade : £72.90 x 149.890 = 10,926.98Least favorable trade: £72.90 x 138.650 = 10,107.59Difference in trade = 10,926.98 - 10,107.59 = 819.396To learn more about exchange rate, please check: https://brainly.com/question/25780725
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z, inc. had net income after taxes of $3,000,000. it had 9,000 shares of stock outstanding at the beginning of the year and 12,000 shares at the end of the year. what are its earnings per share (eps)?
Answers
Earnings per share, or EPS, were $285.71.
What constitutes a high earnings per share?Stocks rated 80 or higher have the best chance of success. By repurchasing shares and reducing the total number of shares outstanding, the company can increase his EPS number. Therefore, a significant increase in revenue requires a significant increase in revenue.
EPS = Period-End Common Shares Outstanding / (Net Income - Preferred Dividends). For example, a company named XYZ has a net turnover of $1 million. The preferred dividend is $200 thousand and there are currently (on average) $400 thousand ordinary shares in issue. Earnings per share is calculated by dividing net income by average number of shares outstanding.
= $3,000,000 / ((9,000+12,000) /2)
= $3,000,000 / (21000/2)
= $3,000,000 / 10,500
= $285.71 per share
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if uniqlo decided to direct its marketing toward people between the ages of 16 and 30, it would be using strategy.
Answers
If Uniqlo decided to direct its marketing toward people between the ages of 16 and 30, it would be using a focus strategy. This strategy is characterized by targeting a specific group of customers, in this case, people between the ages of 16 and 30, and tailoring the company's products and marketing efforts to meet their specific needs and preferences.
By focusing on a specific segment of the market, Uniqlo can differentiate itself from competitors and provide products and services that are unique and desirable to this group.A focus strategy is different from an overall cost leadership strategy, which focuses on offering products and services at a lower cost than competitors, and a differentiation strategy, which focuses on offering unique and high-quality products and services. While Uniqlo may also use elements of these strategies in its marketing efforts, its focus on a specific age group is the main driver of its marketing strategy.
Overall, a focus strategy can be a successful approach for companies that are looking to differentiate themselves in a crowded marketplace and appeal to a specific group of customers. By understanding the needs and preferences of this group, Uniqlo can create targeted marketing campaigns and offer products that resonate with this audience, ultimately driving sales and growth for the company.
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a characteristic of oligopoly that is not present in other market structures is that there are many sellers and each produces a differentiated version of the product. are many sellers that produce identical products. is only one seller and that seller holds a high level of market power. are a small number of sellers and they have market power.
Answers
Throughout history, oligopolies have existed in various industries such as steel, oil, railroads, tire manufacturing, grocery chains, and mobile operators. Other industries with oligopoly structures are airlines and pharmaceutical companies.
Monopolies and oligopolies are market structures that exist under imperfect competition. A monopoly is when a single firm produces goods with no substitutes, while an oligopoly is when a few relatively large firms produce similar but slightly different goods.
An oligopoly market is a market dominated by a few suppliers. They can be found in all countries and across a broad range of sectors. Some oligopoly markets are competitive, while others are significantly less so, or can at least appear that way.
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the final report should include an assessment of the effectiveness of the project team, not only in terms of actual performance on the project, but also with regard to:
Answers
The final report should include an assessment of the effectiveness of the project team, not only in terms of actual performance on the project, but also with regard to team building and staffing policies.
The continual process of discovering, choosing, assessing, and establishing a working rapport with present or potential employees is referred to as staffing. Finding qualified applicants to fill the various positions inside the firm is the major purpose of staffing.
Staffing is the process of finding, vetting, and hiring new employees inside a company or organization to fill unfilled positions. A staffing department may also be responsible for handling other aspects of employment, such as orientation, training, retention, and termination.
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Write a 600 word summary in your own words that identifies the main points you learned. Your summary should include at least one question and answer from each quiz. Explain your answers. Use a publishing program to create a safety poster to make workers aware of safety hazards.
Answers
To write a summary with the main points about your learning on a topic, it is essential that you organize your ideas in a logical and objective way. You can also conduct research on trusted sources to increase your information on the topic and the reliability of your ideas.
The statement also calls for a safety poster to be created to make workers aware of safety risks. Some tips for creating an effective poster are:
Use visuals like meaningful imagesUse flashy colors and phrasesHighlight the main points of the subjectDon't use too much textHow to make an effective summary?It is essential to find the central idea of a text to create your abstract, you can find it in the introduction and usually in the conclusion, where it will be reiterated and justified. After finding the key points of the text, organize them objectively and succinctly, bringing clarity and understanding on the topic.
Therefore, to retain and engage the reader's attention in an abstract or poster on a subject, it is necessary to pay attention to the structure of the activity, using clear and objective language, aligned with the central purpose.
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