mcglone corporation had a 1/1/25 balance in the allowance for doubtful accounts of $40,000. during 2025, the company wrote off $28,000 of accounts and collected $8,400 on accounts previously written off. the balance in accounts receivable was $800,000 at 1/1 and $960,000 at 12/31. at 12/31/25, mcglone estimates that 5% of accounts receivable will prove to be uncollectible. what should mcglone report as its allowance for doubtful accounts at 12/31/25?
Answers
Mcglone should report its allowance for doubtful accounts at 12/31/25 as the sum of the adjusted balance and the estimated uncollectible amount is $68,400.
How to calculate the amount as allowance for doubtful accountsTo answer your question, let's go through the terms and calculate the allowance for doubtful accounts for Mcglone Corporation at 12/31/25.
1. Beginning balance in allowance for doubtful accounts (1/1/25): $40,000
2. Accounts written off during 2025: -$28,000
3. Collected on accounts previously written off: +$8,400
4. Accounts Receivable balance at 12/31/25: $960,000
5. Estimated uncollectible percentage: 5%
First, let's adjust the allowance for doubtful accounts based on the accounts written off and collections:
$40,000 - $28,000 + $8,400 = $20,400
Next, we'll calculate the estimated uncollectible amount at the end of the year:
$960,000 * 5% = $48,000
Finally, Mcglone should report its allowance for doubtful accounts at 12/31/25 as the sum of the adjusted balance and the estimated uncollectible amount:
$20,400 + $48,000 = $68,400
Learn more about doubtful accounts at
https://brainly.com/question/28944789
#SPJ11
Related Questions
Jonczyk Company is considering two different, mutually exclusive capital expenditure proposals. Project A will cost $466,000, has an expected useful life of 13 years and a salvage value of zero, and is expected to increase net annual cash flows by $73,000. Project B will cost $311,000, has an expected useful life of 13 years and a salvage value of zero, and is expected to increase net annual cash flows by $51,000. A discount rate of 10% is appropriate for both projects. Click here to view PV table. Calculate the net present value and profitability index of each project. (If the net present value is negative, use either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). Round present value answers to 0 decimal places, e.g. 125 and profitability index answers to 2 decimal places, e.g. 15.52. For calculation purposes, use 5 decimal places as displayed in the factor table provided, e.g. 1.25124.) Which project should be accepted based on net present value?
Answers
The correct statement is: d. The production function is characterized by constant returns to scale.
To calculate the net present value (NPV) and profitability index (PI) for each project, we need to discount the net annual cash flows to their present value using the discount rate of 10%. The formula to calculate the present value (PV) of net cash flows is:
\(PV = Cash Flow / (1 + Discount Rate)^n\)
where:
PV = Present Value
Cash Flow = Net annual cash flow
Discount Rate = 10% (0.10)
n = Number of years
Let's calculate the net present value and profitability index for each project:
For Project A:
Initial Investment (Cost) = $466,000
Net Annual Cash Flow = $73,000
Useful Life (n) = 13 years
Discount Rate = 10% (0.10)
PV of Net Annual Cash Flow for Project A:
PV = $73,000 / \((1 + 0.10)^13\)≈ $19,133.33
NPV for Project A:
NPV = PV of Net Annual Cash Flow - Initial Investment
NPV = $19,133.33 - $466,000 ≈ -$446,866.67 (rounded to the nearest dollar)
Profitability Index for Project A:
PI = PV of Net Annual Cash Flow / Initial Investment
PI = $19,133.33 / $466,000 ≈ 0.041 (rounded to two decimal places)
For Project B:
Initial Investment (Cost) = $311,000
Net Annual Cash Flow = $51,000
Useful Life (n) = 13 years
Discount Rate = 10% (0.10)
PV of Net Annual Cash Flow for Project B:
PV = $51,000 / (1 + 0.10)^13 ≈ $13,390.24
NPV for Project B:
NPV = PV of Net Annual Cash Flow - Initial Investment
NPV = $13,390.24 - $311,000 ≈ -$297,609.76 (rounded to the nearest dollar)
Profitability Index for Project B:
PI = PV of Net Annual Cash Flow / Initial Investment
PI = $13,390.24 / $311,000 ≈ 0.043 (rounded to two decimal places)
Based on the net present value, Project A has a negative NPV of approximately -$446,866.67, while Project B has a negative NPV of approximately -$297,609.76. Since both projects have negative NPVs, neither project should be accepted based on net present value.
However, if we consider the profitability index, Project A has a PI of 0.041, and Project B has a PI of 0.043. Both projects have a PI less than 1, indicating that neither project is expected to generate positive value compared to their initial investments.
Therefore based on both the net present value and profitability index, neither Project A nor Project B should be ac,cepted.
Learn more about present value here:
https://brainly.com/question/20813161
#SPJ11
Sales Tax is the amount added to a purchase that is charged by the government
True
O False
Answers
Answer:
True
Explanation:
If I am wrong, I am sorry!
Morton’s steakhouse utilized a(n) ________ crm system to surprise a customer with a meal.
Answers
Morton’s steakhouse utilized a social CRM system to surprise a customer with a meal.
What do you mean by social CRM system?Here are some instances of Social CRM in use and some of its advantages: A firm or even a customer makes a fan page for your business or item. Fans are people who support your brand and the way you conduct business, and they provide a platform for marketing, networking, and communication.
With the aim of encouraging engagement in the business process, social CRM is a business strategy that comprises the expansion of marketing, sales, and customer support operations to incorporate the active participation of clients or visitors to an Internet channel.
Learn more about social CRM here
https://brainly.com/question/13097723
#SPJ1
Presented below are the assumptions, principles, and 7. a) constraints used in this chapter. 1. Economic entity assumption 5. Historical cost principle 9. Materiality 2. Going concern assumption 3. Monetary unit assumption 6. Matching principle 10. Industry practices 11. Conservatism 4. Periodicity assumption 7. Foll disclosure principle 8. Cost-benefit relationship
Answers
Conservatism suggests that accountants should err on the side of caution when faced with uncertainties or doubts and should choose the option that is least likely to overstate assets or income.
Assumptions:
Economic Entity Assumption: This assumption states that the business's financial transactions should be separate from the personal transactions of its owners. It means that the business is treated as a separate economic unit.
Going Concern Assumption: This assumption assumes that a business will continue to operate indefinitely unless there is evidence to the contrary. It implies that financial statements are prepared with the expectation that the business will continue its operations in the foreseeable future.
Principles:
3. Monetary Unit Assumption: This principle states that financial transactions should be recorded and reported in a common monetary unit, such as the local currency.
Periodicity Assumption: This principle suggests that the life of a business can be divided into discrete time periods, such as months, quarters, or years. Financial statements should be prepared at regular intervals to provide timely information to users.
Historical Cost Principle: This principle requires that assets and liabilities should be initially recorded at their original cost. Subsequent changes in their values are usually not reflected in the financial statements.
Constraints:
6. Matching Principle: This constraint states that expenses should be recognized and reported in the same period as the revenues they help generate. This principle aims to accurately match the costs incurred to generate the related revenues.
Materiality: This constraint suggests that financial information should be disclosed if omitting it or misstating it could influence the decisions of financial statement users. Materiality is a relative concept and depends on the nature and magnitude of the item in question.
Cost-Benefit Relationship: This constraint implies that the benefits of providing financial information should outweigh the costs associated with gathering, processing, and reporting that information. It acknowledges that there is a practical limit to the amount of detail and precision in financial reporting.
Please note that "Industry practices" and "Conservatism" are not included in the list you provided, but they are additional concepts relevant to accounting. Industry practices refer to specific accounting methods or conventions that are commonly used within a particular industry.
Conservatism suggests that accountants should err on the side of caution when faced with uncertainties or doubts and should choose the option that is least likely to overstate assets or income.
Learn more about Conservatism from the given link!
https://brainly.com/question/17202847
#SPJ11
1. what is the cumulative demand for all periods in labor hours? a. 50,500 b. 52,770 c. 36,680 d. 29,350
Answers
The cumulative demand for all periods in labor hours is (b) 52770.
To calculate the cumulative demand for all periods in labor hours, we need to add up the labor hours for each period. Let's assume we have four periods, and the labor hours for each period are as follows:
Period 1: 10,000 labor hours
Period 2: 12,350 labor hours
Period 3: 8,320 labor hours
Period 4: 19,100 labor hours
To calculate the cumulative demand for all periods, we need to add up these numbers:
10,000 + 12,350 + 8,320 + 19,100 = 50,770
Therefore, the answer is (b) 52,770.
Cumulative demand refers to the total demand over a period of time. In this case, we are calculating the cumulative demand for all periods in terms of labor hours. Labor refers to the work done by individuals in a particular industry or organization. In this question, we are using labor as a measure of demand for a particular product or service. By calculating the cumulative demand for all periods, we can determine the total labor hours required to meet the demand for a particular product or service over a given period of time.
To know more about demand visit:
https://brainly.com/question/29703449
#SPJ11
what to do if you have a student whos bad
Answers
Suppose that a worker in Cornland can grow either 40 bushels of corn or 10 bushels of oats per year, and a worker in Oatland can grow either 5 bushels of corn or 50 bushels of oats per year. There are 20 workers in Cornland and 20 workers in Oatland. If the two countries do not trade, Cornland will produce and consume 400 bushels of corn and 100 bushels of oats, while Oatland will produce and consume 60 bushels of corn and 400 bushels of oats. If each country made the decision to specialize in producing the good in which it has a comparative advantage, then the combined yearly output of the two countries would increase by
Answers
Answer:
see. I hope it's helpful for you lolExplanation:
i need friend lol can you my friend
Hi guys! 40 points!
I would appreciate some help on this one, I'm stumped lol.
What are some ways to encourage companies to get involved in exporting? Would exporting necessarily lead to a favorable balance of trade?
Answers
Answer:
1. Give companies the idea that they have an advantage in certain foreign markets and that they can earn a lot of money from this. Companies that make good business with exporting goods also earn them a reputable reputation.
2. If the exports of a country exceed its imports, the country is said to have a favourable balance of trade, or a trade surplus. Conversely, if the imports exceed exports, an unfavourable balance of trade, or a trade deficit, exists.
Explanation:
hope this helps :)
Sierra needs to ensure that when users are entering data into a datasheet or form that they are limited in the values they can select. Which option should she use as the data type? Lookup list Bound value Short-text Date/time
Answers
Answer:
A. Lookup list
Explanation:
Lookup list should she use as the data type. Thus option A is correct.
What is data type?A data type is a collection or variety of data values that are typically defined by a set of potential values, a set of permitted actions on these values, and/or a representation of these principles as machines.
It is simpler to enter data into a field and can supply values for a dropdown menu by using a lookup field. Using the Lookup Wizard, connections amongst tables are made. It produces a foreign key that makes a reference to another's a unique identifier.
The appropriate data type is lookup. a succinct explanation of the purpose of the customized field. the module where you'd like to keep track of records Therefore, option A (Lookup) is the correct option.
Learn more about data type, Here:
https://brainly.com/question/14581918
#SPJ5
Jennifer sees herself as a loving, caring mother and wife. She also sees herself as an accomplished professional. Finally, she sees herself as a good citizen and devoutly religious person who takes the concerns of others seriously and tries to make the world a better place for those less fortunate than she and her family. This totality of Jennifer’s thoughts and feelings about herself is known as her _____.
A. inner peace
B. inner self
C. self-concept
D. personal identity
E. self-identity
Answers
The totality of Jennifer's thoughts and feelings about herself can be defined as a self-concept, which is based on her belief about herself and the responses of other individuals.
What is the relevance of self-concept?It helps in the formation of personality and behaviors based on self-esteem and life experiences to form your belief about yourself, being a motivational factor for positive or negative behaviors.
Therefore, through identity, body image, self-esteem and their role in society, an individual is able to form their self-concept.
The correct answer is:
C. Self-concept
Find out more about self-concept here:
https://brainly.com/question/890495
What is command economy main goal?
Answers
The main goal of the command economy is to centralize the decision-making process and allocate resources in an efficient manner. This type of economy is based on a planned economy where the government controls the production, distribution and prices of goods and services.
This type of economic system is typically seen in socialist countries and its primary purpose is to ensure that resources are used in the most efficient and equitable manner possible. The government sets prices, wages, and production levels, which helps ensure that everyone has access to basic goods and services. This type of economy also emphasizes the importance of social justice, meaning that the government tries to ensure that everyone has access to the same basic goods and services, regardless of their economic status.
To know more about economy click here
https://brainly.com/question/2421251
#SPJ4
explain the role of director of board of directors in public company.
four points
Answers
Explanation:
The board of directors is elected to represent shareholders' interests. Every public company must have a board of directors composed of members from both inside and outside the company. The board makes decisions concerning the hiring and firing of personnel, dividend policies and payouts, and executive compensation.
hope my ans helps helps
pls give brainliest to my answer
be sure to follow me
stay safe
have a good day
describe the functions of SARB
Answers
Answer:
The Reserve Bank's responsibilities include formulating and implementing monetary policy, promoting financial stability, issuing banknotes, providing banking services to government, operating the high-value payments system, managing Australia's foreign reserves and setting payments system policy.
The SARB is responsible for regulating cross-border transactions, preventing the abuse of the financial system and supporting the regulation of financial institutions.
▪▪▪Cutest Ghost▪▪▪Find a government regulation imposed by the commonwealth of virginia that addresses a market failure. identify the agency that enforces the regulation and describe how it protects consumers, workers, or the environment.
Answers
The Virginia Consumer Protection Act was first proposed in 1977. The intent behind this act is to promote fair and ethical standards of dealings between suppliers and the consuming public. The Act covers a number of consumer transactions. It includes advertising, and the sale of goods and services for personal or household uses.
A consumer is a person who acquires and uses or consumes a product for their own use. Consumers cannot resell goods, products, or services, but they can consume them to earn a living or self-employment. Consumer definition. Consumers are the end users of goods and services.
Consumers in the food chain are animals that eat organisms from another population. Consumers are heterotrophs and producers are autotrophs. Both are organisms that draw energy from other organisms. Consumer means an individual or group who intends to order or use the purchased goods, products, or services primarily for personal, social, familial, domestic, and similar needs. Yes, and not directly related to entrepreneurial or business activities.
Learn more about Consumers here
https://brainly.com/question/380037
#SPJ1
After asking coworkers to review a project plan, you receive feedback. Your coworker thinks there is a better way to display the data in the business report.You should add a
title
reference
abstract
table
Answers
Answer:
table
Explanation:
A(n) _____ structure should be introduced where employees perform tasks with high variability and low analyzability.Select one:a. team-basedb. formalizedc. organicd. mechanistice. simple
Answers
A(n) organic structure should be introduced where employees perform tasks with high variability and low analyzability. Option C
This type of structure emphasizes flexibility and adaptability in response to changes in the environment, which is particularly important for tasks that are difficult to standardize or automate.
In a relational structure, employees work closely together in teams or groups, and communication and collaboration are emphasized. This allows for the exchange of ideas and the pooling of resources, which can lead to more creative problem-solving and innovation.
In contrast, a more rigid, hierarchical structure may be more appropriate for tasks with low variability and high analyzability. In this type of structure, tasks are more standardized and routine, and decision-making is centralized. This can lead to greater efficiency and consistency, but may be less adaptable to changing circumstances.
Overall, the choice of organizational structure should be based on the nature of the tasks being performed and the goals of the organization. For tasks with high variability and low analyzability, a relational structure that emphasizes flexibility and collaboration may be the most effective approach. Option C
For more such questions on variability visit:
https://brainly.com/question/17245220
#SPJ11
The employees at a local fast food restaurant all have an unspoken agreement that, even though it is not supposed to happen, they don't clock out for their breaks. what is guiding their behavior?
Answers
The workers at a local fast-food chain all have an unspoken agreement that they don't clock out for their breaks, even though it's not meant to happen. Norms are guiding their behavior.
In the social sciences, norms are a core concept. They are most frequently described as socially enforced expectations or regulations.
Prescriptive norms encourage positive conduct, such as "be honest," whereas proscriptive norms discourage harmful behavior, such as "do not cheat."
Society's structure is maintained through norms. Without social standards, it is hard to imagine how human civilization would function. Humans require norms to control and regulate their conduct, to maintain social connections' regularity and order, and to make sense of and comprehend each other's behavior.
To learn more about employee unspoken agreements
https://brainly.com/question/1732161
#SPJ4
What is happening today that will affect international business of the future? Explain. 2. How can Christians impact the future of third world countries in the global marketplace?
Answers
Globalization is an ongoing trend that is having a significant effect on international business. It refers to the process of integrating economies, cultures, and societies all around the world.
Globalization has been facilitated by technological advancements, such as the Internet and social media, which have enabled businesses to communicate and operate on a global scale more easily than ever before. Globalization has resulted in increased competition for international businesses and increased demand for goods and services. It has also made it easier for companies to enter foreign markets, thereby expanding their reach. The global market is highly competitive, and businesses must continuously adapt to remain competitive.
Christians can impact the future of third-world countries in the global marketplace by providing aid and support to those in need. They can donate time, money, and resources to help develop infrastructure, provide education and training programs, and improve access to basic necessities such as food and water. They can also use their business expertise to help small business owners in third-world countries develop their enterprises and succeed in the global marketplace. Christians can work with local communities to build relationships and foster mutual trust, which can help to break down cultural and language barriers and create a more collaborative global marketplace.
Leave more about globalization
https://brainly.com/question/15283031
#SPJ11
If you have a crash and someone is injured you should?
Answers
Answer: Give the person your insurance information (or vice versa)
Explanation:
your company’s marketing manager implements the company’s new marketing strategy and tactics on the market. what types of information does your marketing manager need to monitor to judge the plan’s implementation success and strategic effectiveness?
Answers
The type of information the marketing manager needs to monitor to judge the plan's successful implementation and strategic effectiveness are profits, customer relations, sales information, and competitor reactions.
A marketing strategy is one whose objective is to position the company in relation to competitors, through the creation of value that will help attract and retain consumers.
There are several tools that can help shape an organization's marketing strategy, such as:
The 5 P's of marketing.SWOT Analysis.CRM.Therefore, the manager must monitor profits, company-customer relationships, sales, and competitor reaction to judge the success of a marketing plan, which should generate value and market leadership for an organization.
Learn more here:
https://brainly.com/question/1577600
if a stockbroker tells her spouse that a company will be merging tomorrow, which will result in a higher market price for the stock, and the spouse purchases the stock today, it is called
Answers
If a stockbroker informs her spouse about an upcoming merger that will lead to a higher market price for a particular stock, and the spouse purchases the stock based on that information, it is referred to as insider trading.
Insider trading refers to the practice of buying or selling stocks based on material, non-public information about the company. In the scenario described, the stockbroker has access to confidential information about the upcoming merger, and by disclosing it to her spouse, she is providing insider information. Insider trading is considered illegal because it gives individuals an unfair advantage over other investors and undermines the integrity of the financial markets. It is prohibited by securities laws and regulations to maintain a level playing field and ensure transparency in stock trading.
In this case, the stockbroker's spouse benefits from the non-public information by purchasing the stock ahead of the merger announcement, anticipating a higher market price. This action violates securities laws and regulations, as it involves trading based on privileged information that is not available to the general public. Therefore, the described situation would be categorized as insider trading, which is illegal and subject to penalties and legal consequences.
Learn more about stockbroker here: https://brainly.com/question/2928476
#SPJ11
the price of a discount bond will increase over time, assuming that the bonds yield to maturity remains constant over time true or false
Answers
Answer:
its true
Explanation:
ikaw napo bahala kasi di ko alam
what is aunt edna's plantwide overhead rate? determine the formula for calculating the plantwide overhead rate, then calculate the rate
Answers
To determine Aunt Edna's plantwide overhead rate, you first need to gather the necessary information. This includes the total overhead costs for the business and the total units produced in a given time period. Once you have this information, you can use the formula to calculate the rate.
The formula for calculating the plantwide overhead rate is:
Plantwide overhead rate = Total overhead costs / Total units produced
Plantwide overhead rate is a method used to allocate the overhead costs of a business to each unit produced. The formula for calculating the plantwide overhead rate is by dividing the total overhead costs by the total amount of units produced in a given time period.
By using this formula, you can determine the plantwide overhead rate for Aunt Edna's business and allocate the overhead costs to each unit produced. This information can then be used to make informed decisions about the business and its operations.
To know more about plantwide overhead rate refer here:
https://brainly.com/question/28295486#
#SPJ11
According to researchers at the Ohio State University leaders who use ( a. team managment style b. employee centered behavior c. initiating structure behavior ) define the leader–subordinate role formally and set clear expectations, but the same leaders can also show (a. consideration behavior b. middle of the road style c. taskorientation) taking a more friendly, supportive approach. In Blake and Mouton’s Leadership Grid, the style labeled (a. participative b. authority compliance c. employee centered) is most similar to the approach of leaders who demonstrate the (a. initiating structure b. consideration c.directive) behavior identified by researchers at the Ohio State University.
Answers
According to researchers at the Ohio State University, leaders who use the initiating structure behavior define the leader-subordinate role formally and set clear expectations, but they can also show consideration behavior by taking a more friendly, supportive approach. The style labeled employee centered in Blake and Mouton's Leadership Grid is most similar to the approach of these leaders.
researchers at the Ohio State University, leaders who use (c. initiating structure behavior) define the leader-subordinate role formally and set clear expectations, but the same leaders can also show (a. consideration behavior) taking a more friendly, supportive approach. In Blake and Mouton's Leadership Grid, the style labeled (a. participative) is most similar to the approach of leaders who demonstrate the (b. consideration) behavior identified by researchers at the Ohio State University.
learn more about researchers here:
https://brainly.com/question/18723483
#SPJ11
what can i do if my total in cash account is not the same in credit and debit side?
Answers
Answer:
Consider which items are meant for debit and credit.
Explanation:
The principle of double entry States that for every debit entries, there must be a corresponding credit entries and vice versa. This principle follow suits when preparing ledger accounts and trial balance.
Trial balance is the arithmetrical accuracy of the ledger. Once double entry principle is adhered to, the trial balance must definitely balance.
Where there are differences, check that items which ought to be debited and credited are correctly done. Also check if correct amount is posted like avoiding transposition error.
if the pure expectations theory is correct, a downward sloping yield curve indicates that interest rates are expected to decline in the future.
Answers
It's true that if the pure expectations theory is correct, a over leaning yield wind indicates that interest rates are anticipated to decline in the future.
Grounded on the current long- term interest rates, prospects proposition aims to read what suddenly- term interest rates will be in the future. According to the thesis, an investor would make the same quantum of interest by copping
Two successive one- time bonds as opposed to one two- time bond moment.
With the use of a protuberance of unborn interest rates, the prospects proposition tries to help investors in making opinions. The proposition predicts the rate for short- term bonds using long- term rates, frequently from government bonds.
Long- term rates can theoretically be used to prognosticate where short- term bond rates will trade in the future. The prospects proposition isn't always a reliable instrument, as investors should be apprehensive of.
To know more about pure expectations theory:
https://brainly.com/question/30543289
#SPJ4
Correct question:
if the pure expectations theory is correct, a downward sloping yield curve indicates that interest rates are expected to decline in the future. True or false.
which of the following is not correct about the effects of a tariff on an imported product? which of the following is not correct about the effects of a tariff on an imported product? tariffs mean higher prices and less consumption for consumers of the product. tariffs increase government revenue. tariffs increase the efficiency of how resources are allocated. tariffs benefit domestic producers by raising price and domestic output.
Answers
The other statements, including tariffs leading to higher prices and less consumption for consumers, increasing government revenue, and benefiting domestic producers by raising price and output, are all valid effects of tariffs.
Tariffs are taxes imposed on imported goods, and their primary purpose is to protect domestic industries by making foreign products more expensive. While tariffs can generate government revenue and benefit domestic producers by raising prices and output, they do not increase the efficiency of resource allocation. In fact, tariffs can lead to inefficiencies by distorting market forces and preventing resources from being allocated based on comparative advantage. Tariffs can disrupt international trade, reduce competition, and hinder the optimal allocation of resources across countries. Therefore, the statement suggesting that tariffs increase the efficiency of resource allocation is not accurate.
know more about Tariffs :brainly.com/question/18124245
#SPJ11
In terms of SUPPLY, what factors have contributed to the fall in oil prices?
Answers
Mark, who attended a music festival where a local band performed, says "I did not like their music much, but my friends really liked it." Identify the perception bias exemplified in Mark's statement.
Answers
Mark's statement exemplifies the perception bias known as the false consensus effect. This is a phenomenon in which individuals overestimate the extent to which others share their beliefs, attitudes, or preferences.
In Mark's case, he did not like the music of the local band, but assumed that his friends must have enjoyed it since they attended the same music festival.
The false consensus effect is often driven by a desire to feel validated or accepted by others. People tend to associate with others who share similar beliefs, and may therefore assume that others outside of their social circle share these same beliefs as well. However, this bias can lead to misunderstandings and miscommunications, as individuals may assume that others are in agreement with them when this is not necessarily the case.
To overcome the false consensus effect, it is important to seek out diverse perspectives and to recognize that not everyone will share the same beliefs or preferences. Additionally, it can be helpful to engage in active listening and open-mindedness when discussing topics with others, in order to gain a better understanding of their viewpoints and to avoid making assumptions based on one's own biases.
For more such questions on consensus effect
https://brainly.com/question/29962064
#SPJ11
which of the following regarding family owned buisnesses is true
Answers
One of the following statements regarding family-owned businesses is true: They are a type of private enterprise that is completely owned by a family.
Family-owned companies are businesses in which the majority of the ownership or control is held by a single family or a small group of families.
Family-owned companies frequently have a long-term strategy because they do not have to respond to public shareholders' short-term demands.
Family-owned businesses are not only prevalent, but they also account for a significant proportion of the world's wealth and production.
As compared to non-family-owned companies, family-owned companies tend to outperform.
Know more about family-owned businesses here:
https://brainly.com/question/9664401
#SPJ11