Most economists do not advocate a return to the gold standard because it limits monetary policy flexibility, restricts economic growth, and may lead to deflation.
Under a gold standard, the supply of money is tied to the supply of gold, which means that the central bank cannot increase or decrease the money supply based on economic conditions or policy goals. This can lead to economic instability, as the money supply may not be able to respond adequately to changes in demand for credit or changes in the velocity of money
there are practical difficulties in implementing a gold standard, as it requires a significant amount of gold reserves and may be vulnerable to speculative attacks and other disruptions.
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Balance sheet items from the following list of selected items taken from the records of bobcat appliance service as of a specific date, identify those that would appear on the balance sheet:
The balance sheet of Bobcat Appliance Service would typically include items such as cash, accounts receivable, inventory, property, plant, and equipment, accounts payable, loans payable, owner's capital, and retained earnings.
To figure out which things from the chose rundown would show up on the monetary record of Wildcat Apparatus Administration, we really want to comprehend that the accounting report comprises of resources, liabilities, and value. In light of the data gave, the accompanying things would commonly show up on the accounting report:
Assets:
Cash: reflects the company's total cash holdings.
Receivables on Account: amounts that customers owe the company for services or goods sold on credit.
Inventory: Worth of machines or extra parts held by the organization available to be purchased or fix.
Property, Plant, and Gear: Worth of structures, land, vehicles, and other fixed resources claimed by the organization.
Liabilities
Payments to be made: sums owed by the business to its suppliers or creditors in exchange for received goods or services.
Payable Loans: any loans or borrowings the company has taken out that are still unpaid.
Equity:
Proprietor's Capital: demonstrates the owner's ownership stake or investment in the business.
Earnings Retained: Gathered benefits or misfortunes of the organization after some time.
It is essential to keep in mind that this is only a general list and that not all of the items that could appear on a balance sheet might be included. Moreover, without explicit subtleties or figures for every thing, giving a clarification or estimation to their values is preposterous.
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Vail is one of the largest ski resorts in the united states. suppose that on october 1, 2024, vail sells gift cards (lift passes) for $103,000. the gift cards are redeemable for one day of skiing during the upcoming winter season. the gift cards expire on april 1, 2025. customers redeem gift cards of $20,300 in december, $30,300 in january, $25,300 in february, and $15,300 in march.
1. record the sale of gift cards on october 1, 2024.
2. record the redemption of gift cards as of december 31, 2024.
3.record the redemption of gift cards in 2025 by preparing a summary entry as of march 31, 2025.
4. record the expiration (breakage) of gift cards on april 1, 2025.
Debit gift cards will be converted to credit gift cards at the following dates: October 1, 2024, December 31, 2024, March 31, 2025, and April 1, 2025. Debit gift cards will be converted to credit gift cards at the following dates: 15,300$ on March 31 and 37,100$ on April 1.
What details are printed on gift cards?It doesn't have to be difficult, and your customers will notice it more readily if it is more transparent. We advise writing your address, email, website, or other contact details on the gift card's back. You want to be discoverable by others.
What are gift cards and how do they operate?An alternative method of payment is a gift card. It is also like a gesture of goodwill for the customers.
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Rocky Point Brewery (RPB) filed an initial public offering in January 2018. RPB engaged Olsen & Alain, CPAs, (O&A) in 2015 to keep the books and prepare monthly and annual financial statements (while the company was privately held), and terminated those services in December 2018. Under SEC and PCAOB rules, could RPB engage O&A to be their auditors now that it is a public company? a. Yes, because the prohibited nonaudit services were performed before the period of professional engagement. b. Yes, but only if O&A rescinds any indemnification language existing in their nonaudit engagement letters. c. No, because the prohibited nonaudit services were performed during the period covered by the financial statements. d. No, but only if the fees O&A received from these engagements exceeded five percent of the firm's annual revenues.
Answer: No, because the prohibited non-audit services were performed during the period covered by the financial statements.
Explanation:
The aim of the Securities and Exchange Commission is to protect the investors and also maintain a fair, and an efficient market.
We should note that Under SEC and PCAOB rules, RPB cannot engage O&A to be their auditors now that it is a public company because the prohibited non-audit services were performed during the period covered by the financial statements.
What is a negative consequence of making a lobbying cause public?
However, lobbying can also lead to undue influence, unfair competition and regulatory capture to the detriment of the public interest and effective public policies. A sound framework for transparency in lobbying is therefore crucial to safeguard the integrity of the public decision-making process.
What is a lobbying ?The word "lobby" literally refers to an entrance hall in a hotel, a public structure, such as Congress, or any other. But in a specific lobby or entrance hall in 1640, its connotation as "pressure group" was first introduced.Meetings with lawmakers or their staff to discuss certain bills are examples of direct lobbying. Composing a bill or negotiating its provisions. Chatting with lawmakers' staff about the likely content of legislation.Lobbying Forms. Depending on the subjects that organised interests support and the people they aim to sway, there are many different styles of lobbying. Berry (1977) categorised different types of lobbying into three main groups: direct lobbying, grassroots lobbying, and electoral lobbying.To learn more about lobbying refer to:
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when the boy tells the merchant that he is going to be leaving to return to his country to buy sheep, he asks for the merchant's blessing. what does the merchant say about the boy's journey home?
The Alchemist scenario that best exemplifies this assertion is The crystal trader describes how things would change in Africa if they start selling tea at the store.
As the company expands thanks to the merchant's ideas, he explains to the shop's proprietor that everything can be used as a link to form a whole. For instance, selling tea connects the satisfaction that a potential customer will experience after arriving at the location exhausted and having the chance to relax; as a result, they will see everything with a brighter perspective, which will make the product more alluring to them.
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Once a marketing campaign is executed, it should be ________________ for effectiveness.
- evaluated
- created
- engineered
- designed
Answer:
evaluated
Explanation:
To evaluate is to carefully and skillful determine the merits, benefits, significance, nature, character, or relevance of something or someone. The process of evaluation highlights the strengths of the subject matter and reveals its weaknesses.
Evaluating a marketing campaign will determine its level of success and point out areas that need improvement.
List the basic elements of business plan
Answer:
Company Description
Market Analysis
Competitive Analysis
Marketing Plan
Sales Strategy
Explanation:
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what is the goal of the modeling step of business process management?
The fundamental goal of business process modeling tools is to assess how things are today and simulate how they should be done to obtain better results.
In one word, what is fundamental right?
Fundamental rights are a collection of rights that have been recognized by a high level of protection from infringement. Certain rights are expressly stated in a constitution or have been established via due process of law. All of the essential ideals of democracy are embodied in our constitution. These folks are being denied a basic human right. Most, if not all, excellent art is founded on technical expertise. Yet, the two leaders disagree on this point fundamentally.
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for the purchase of an airline ticket, a consumer may use ________ like time of day, percentage of on-time departure, brand, and price to choose between offerings.
While selecting between options for an airplane ticket, a consumer may consider a number of factors or features, such as Time of day: While some passengers might like midday flights.
Others could choose early morning or late night flights. Percentage of departures that are on time: For a timely arrival at their destination, passengers may favor airlines having a higher percentage of on-time departures. Brand: Consumers may have a preference for a certain brand due to a variety of factors, such as past pleasant experiences or allegiance to a specific airline. Price: Customers frequently consider price to be a key consideration in their decision-making process. They may compare rates offered by several airlines or look for the greatest bargain.
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True or False When evaluating the choice you made you should never second guess your decision? Pls help
Answer:
False. When you want to make a decision, you have to think about the consequences. Good or bad? Will it affect someone mentally? Will it help you in the future? It's about the consequences.
Explanation:
The concept of demand can be summarized by a schedule or curve showing the quantity of a product that would be ______.
The concept of demand can be summarized by a schedule or curve showing the quantity of a product that would be given away at only one price. This is further explained below.
What is the demand curve?Generally, the demand curve is simply defined as a chart depicting the relationship between the price of a something or service and the demand for that good or service.
In conclusion, The notion of demand may be described by a timetable or curve indicating the amount of a product that would be given away for free at a certain price.
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which statement about the european union is true? multiple choice it is working toward the abolition of import duties. it is working toward the creation of a standardized currency. it is trying to increase value-added taxes. it is striving to impose customs checks within europe. it is trying to create opportunities to trade with south america.
The European Union is working toward the abolition of import duties. The correct answer would be option A.
Under the Generalized Scheme of Preferences, exports from developing nations to the EU are not subject to import taxes. It supports the nations' efforts to combat poverty and provide employment while adhering to the ideals of sustainable development by expanding export options. For instance, Bolivia, Mongolia and Sri Lanka are combating child labour more successfully.
The global Sustainable Development Goals of the United Nations are aided by the trade agenda of the EU. The preferences give the recipient nations a reason to get closer to fully implementing international agreements concerning human rights, labor rights, the environment and good governance.
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what effect would an effective minimum wage have on a perfectly competitive market?
In a aggressive exertions marketplace, an boom within side the minimal salary reduces employment and will increase unemployment. A minimal salary may want to boom employment in a monopsony exertions marketplace on the equal time it will increase wages.
The required details for unemployment in given paragraph
The time period unemployment refers to a scenario in which someone actively searches for employment however is not able to locate paintings. Unemployment is taken into consideration to be a key degree of the fitness of the economy. The maximum regularly used degree of unemployment is the unemployment rate. It's calculated via way of means of dividing the wide variety of unemployed human beings via way of means of the wide variety of human beings within side the exertions force. Many governments provide unemployment coverage to sure unemployed people who meet eligibility requirements.
Unemployment is a key financial indicator as it alerts the ability (or inability) of employees to attain gainful paintings and make contributions to the efficient output of the economy. More unemployed employees suggest much less general financial production.
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In your groups, create a brief marketing plan to promote a new line of gluten-free dairy ice cream from Shore Thing Ice Cream, now being sold in major grocery stores in the Lower Mainland. The ice cream products are aimed at 25-45 year old urban professionals. Analyze the audience in terms of demographics and at least 2 psychographics. Create a content calendar covering one month. Outline your key message. Detail what tools you'll use to promote the ice cream and at least one call to action for consumers. Include at least two forms of measurement.
Your plan should be 3-6 pages long, can include graphics but doesn't have to.
IntroductionThe marketing plan outlines how Shore Thing Ice Cream, a new line of gluten-free dairy ice cream can be promoted to the 25-45-year-old urban professionals in the Lower Mainland. The plan outlines the target audience, content calendar covering one month, key message, tools, and at least one call to action for consumers. The plan aims to create awareness of the new ice cream line to a specific target audience that needs and values healthy, gluten-free, and dairy-free alternatives.
This will increase sales and attract new customers to the company.Target audienceDemographics: The target audience for Shore Thing Ice Cream is the 25-45-year-old urban professionals residing in the Lower Mainland. The Lower Mainland region has a population of approximately 2.9 million, and according to Statistics Canada, the age range of 25-45 years makes up approximately 31% of the population.Psychographics: The target audience is health-conscious individuals that value gluten-free and dairy-free alternatives. They are individuals that value convenience and seek products that cater to their dietary requirements and lifestyle. They are professionals that are too busy to make homemade ice cream but still want to indulge in a sweet treat that caters to their dietary requirements.Content calendarA content calendar covering one month will include daily social media posts, weekly blog posts, weekly email campaigns, and monthly events.
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What is the opposite of fade-in, when the image goes black?
Answer:Umm fade out is the opposite if fade in, but it might not be correct.
Explanation:
;)
15 $ x 140 hours a month
15 × 140 × 12
= $ 25200
IT IS 15 TIMES THE HOURS TIMES THE MONTHS SINCE THERE ARE TWELVE MONTHS
If you have $35 in your checking account and swipe your debit card for a $50 purchase WITH overdraft protection, what most likely happens? *
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According to the condition, it will happens you can make the purchase, but you will also be charged an overdraft fee.
What do you mean by overdraft protection?A checking account's overdrafts are covered via an agreement made with the bank or other financial institution known as overdraft protection. This service normally has a cost attached to it, usually up to a predetermined maximum.
Even if there isn't enough money in your bank account, overdraft protection ensures that transactions still go through. Checks, ATM withdrawals, and debit card transactions are typically covered by this insurance.
The recipient won't be aware of your low bank balance thanks to overdraft protection, which also ensures that urgent transactions go through.
Therefore, if you have $35 in your checking account and swipe your debit card for a $50 purchase with overdraft protection, it will happens you can make the purchase, but you will also be charged an overdraft fee.
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For a customer of Lush, how will their MVV translate to your experience?
For an employee of Lush, for example a shop worker – how might the companies MVV affect your working life, your daily experience and your perspective of the business?
Who are office chief , sectional chief and assistant in school ?
Answer:
Post of the principle : A principal in a company is typically the owner, founder or chief executive officer (CEO) of a company. In some situations, the principal might be someone who owns most of the company's equity and is responsible for making big business decisions.
Post of the teacher : Teaching post means any post in a school or institution occupied by a teacher for the purpose of teaching. teaching post means a post, the duties of which involve teaching and training the students and other academic responsibilities.
Post of the counter worker : They call the childs parents if anything is wrong at school and is responsible of collecting the school fees and payment
Explanation:
Answer:
Sectional chief is the bridge between top and low level chiefs. One of the most important functions of a sectional chief is to report the performance, problems and achievements of the department to the office chief. Office Assistant: They are those personnel who work at lower level in an organization.
Teacher's post: Teaching post means any post in a school or institution occupied by a teacher for the purpose of teaching. teaching post means a post, the duties of which involve teaching and training the students and other academic responsibilities.
What public works project was built to help with unemployment during the great depression?.
Answer: Im also taking this test and i believe the answer is Hoover Dam i might be wrong
Explanation: Hoover Dam
Which settlement option pay a stated amount to an annuitant but no residual value to a beneficiary
Answer:
Life income
Explanation:
if the federal government spends more than it collects in revenue, then
If the federal government spends more than it collects in revenue , then this situation represents a (a) Budget deficit .
A Budget Deficit situation happens when the federal government spends more money than it collects in revenue in a given fiscal year.
When the government spends more than it collects in taxes, it must borrow the difference to finance for its spending, this leads to an increase in the national debt.
A budget deficit is also seen as a measure of the government's fiscal responsibility and it have a significant implications for the economy and public finances over time .
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The given question is incomplete , the complete question is
If the federal government spends more than it collects in revenue , then this situation represents a
(a) Budget deficit,
(b) Fiscal scenario,
(c) Liquidity trap,
(d) Deflation,
(e) National debt.
rock solid is a company that manufactures different mixes of mortar for building projects. recently it decided to outsource its warehousing to focus more on making great mortar mixes. this is an example of .
The decision made by Rock Solid to outsource its warehousing is an example of business process outsourcing (BPO). BPO is the practice of contracting out specific business functions or processes to third-party providers. By outsourcing its warehousing, Rock Solid is delegating the storage and management of its products to an external company.
This strategic move allows Rock Solid to focus more on its core competency, which is manufacturing great mortar mixes. Instead of allocating resources and time towards managing and maintaining its own warehouse, Rock Solid can now redirect those resources towards improving its mortar mix production.
Outsourcing the warehousing function to a specialized third-party provider can bring several benefits to Rock Solid. For example, it can reduce costs associated with owning and operating a warehouse, such as rent, maintenance, and labor. Additionally, the third-party provider may have expertise and advanced systems in place to efficiently handle inventory management and logistics.
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give me an example of something you learned from a specific class and described how it will help you be successful in the future?
Answer:
I learned how to do basic math and now I can do algebra
Explanation:
Consider a family that has one working parent, a stay‐at‐home parent, and three children. Two of the children are in elementary school, and the youngest child is in Pre‐Kindergarten. They have a house, a car, and a minivan, and they carry some credit card debt.
The house is valued at $89,000 with a mortgage balance of $80,000.
The car is worth $15,000. The family owes $15,000 on this auto loan.
The minivan is worth $20,000. The family owes $16,000 on this auto loan.
They financed new household furnishings valued at $5,000. The family owes $4,500 on this loan.
They have $15,000 in their retirement account.
They have $1,500 in emergency savings, $1,000 in savings, $500 in checking, and $1,500 in a CD.
They have $200 in cash.
Balances on the credit cards total $15,000.
The family pays $500 per month for school loans; the current balance is $25,000.
The family pays $350 per month for Pre‐Kindergarten tuition.
All of the children are on soccer teams, which costs $100 per month.
For this assignment, use the information above to answer the following questions about the family's net worth:
Calculate the family's total assets.
Calculate the family's total liabilities.
Calculate the family's net worth, and identify whether the net worth is positive or negative.
List any expenses that would not fall on the balance sheet.
1. The family's total assets = $148,700.
2. The family's total liabilities = $155,500.
3. The family's net worth is ($6,800), which is $148,700 - $155,500.
What is the family's net worth?The family's net worth is the excess of its total assets minus its total liabilities.
The net worth can be positive or negative. It is negative when the total liabilities exceed the total assets.
Data and Calculations:Assets Liabilities
House on mortgage $89,000 $80,000
Car on auto loan 15,000 15,000
Minivan on auto loan 20,000 16,000
Furnishings 5,000 4,500
Retirement account 15,000
Emergency savings 1,500
Savings 1,000
Checking account 500
CD 1,500
Cash 200
Credit cards 15,000
School loan 25,000
Total $148,700 $155,500
4. Thus, the expenses that would not fall on the balance sheet are:
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What is the problem in measuring GDP?
Since they don't entail transactions, many important things, such as peace, environmental protection, or family ties, are not included in the GDP. In fact, because they spur spending, the GDP counts pollution, violence, the health expenses of smoking, and environmental catastrophes as "growth."
What does the word "peace" mean?We adore the freedom and tranquility of our life here. a quiet and composed condition. a feeling of calm and unconcern. As he looked up at the stars, a serenity came over him.
Why is tranquility crucial?In order for societies to be robust to shocks, handle conflicts, and adjust to shifts in their environments, it will be impossible to attain the degree of confidence, cooperation, and inclusion necessary without peace.
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Question 2. Small Town Sweets—audit planning analytics (4%)
Small Town Sweets is based in Molong, NSW, and produces a range of high-quality confectionery for the East Coast market. Small Town Sweets operates in a low-margin environment, which typically means that large volumes are required to cover overhead costs and generate profits. It also means that overheads need to be kept under control to ensure that a net profit is generated from its operations. Debt is also kept to a minimum to ensure that interest costs are low and that there is sufficient margin to protect solvency during downturns.
The company did not reach industry profitability benchmarks in the previous year and budgeted to do better in the current year. It thought that it could do so by keeping its costs down in relation to sales while allowing its gross margin to drop, evidently planning to generate a larger volume of sales. The company also planned to better manage its working capital by reducing inventory and accounts receivable levels, indicating that it expected to produce a healthy cash flow to enable it to do so. As part of the planning process MCA has produced the following analytical information:
Ratio Actual Budgeted Prior Year Industry
Return on equity % 12.9 16.6 14.8 15.5
Return on total assets % 10.7 14.2 13.1 14.5
Gross margin % 8.5 9.0 9.5 9.0
Marketing expense/sales % 2.6 1.8 2.0 2.2
Admin expenses/sales % 1.6 1.6 1.8 2.0
Interest coverage ratio 5.4 8.1 6.4 6.0
Days in inventory 33.1 30.4 31.1 30.0
Days in accounts receivable 50.0 48.0 49.7 45.0
Current ratio 1.3 1.2 1.2 1.5
Quick asset ratio 0.81 0.77 0.77 1.0
Debt to equity ratio 0.51 0.33 0.41 0.40
Required
With reference to ASA 315 and the information above, identify and justify:
the three ratios that would be of most interest in the planning of the audit.
the account balance that is most at risk for each ratio identified in 1.
the assertion most at risk for each account balance identified in 2.
Answer this question using the following headings:
1. Ratio
2. Account balance
3. Assertion
Ratio:
a) Return on equity %
b) Days in inventory
c) Days in accounts receivable
Account balance:
a) Net income
b) Inventory
c) Accounts receivable
Assertion:
a) Existence
b) Valuation
c) Completeness
Justification:
Ratio:
a) Return on equity %: Return on equity is a key profitability ratio that measures the company's ability to generate profits for shareholders. It is of interest to auditors as it provides insight into the effectiveness of the company's management team in generating profits. A lower than expected return on equity could indicate mismanagement or fraudulent activity.
b) Days in inventory: Days in inventory is a ratio that measures the average number of days it takes for inventory to be sold. It is of interest to auditors as it provides insight into the efficiency of the company's inventory management system. A high number of days in inventory could indicate that inventory is not being managed efficiently, leading to potential overstatement of inventory and understatement of cost of sales.
c) Days in accounts receivable: Days in accounts receivable is a ratio that measures the average number of days it takes for customers to pay their bills. It is of interest to auditors as it provides insight into the efficiency of the company's accounts receivable management system. A high number of days in accounts receivable could indicate that the company is not collecting receivables in a timely manner, leading to potential overstatement of accounts receivable and understatement of bad debts.
Account balance:
a) Net income: Net income is the primary measure of a company's profitability. It is at risk if the return on equity ratio is lower than expected, as it may indicate mismanagement or fraudulent activity.
b) Inventory: Inventory is a major component of cost of sales and is at risk if the days in inventory ratio is higher than expected, as it may indicate potential overstatement of inventory and understatement of cost of sales.
c) Accounts receivable: Accounts receivable represent amounts owed to the company by customers. They are at risk if the days in accounts receivable ratio is higher than expected, as it may indicate potential overstatement of accounts receivable and understatement of bad debts.
Assertion:
a) Existence: The existence assertion is at risk for net income if the return on equity ratio is lower than expected, as it may indicate mismanagement or fraudulent activity.
b) Valuation: The valuation assertion is at risk for inventory if the days in inventory ratio is higher than expected, as it may indicate potential overstatement of inventory and understatement of cost of sales.
c) Completeness: The completeness assertion is at risk for accounts receivable if the days in accounts receivable ratio is higher than expected, as it may indicate potential overstatement of accounts receivable and understatement of bad debts.
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Which one of the following statements is not correct?
a) Market timing theory argues that companies issue equity when their P/E ratio is exceptionally high
b) According to static trade-off theory agency costs of equity increase when CEO’s ownership of the firm is low
c) Firm has no target capital structure if it follows the pecking order theory
d) Home-made leverage is possible when no market imperfections exist
The statement that is not correct is: "According to static trade-off theory agency costs of equity increase when CEO’s ownership of the firm is low." This is false.
Here are the explanations of the other statements mentioned in the question as well as the explanation of the correct statement:Market timing theory This theory argues that companies issue equity when their P/E ratio is exceptionally high. This is because at this time, their stocks are overvalued. By issuing equity, they can make more money. However, this theory is highly criticized, and empirical studies have found that companies usually issue equity when their stocks are undervalued instead of overvalued. Static trade-off theory The static trade-off theory states that there is an optimal amount of debt and equity that a company should have in its capital structure.
By combining these assets in the right proportion, an investor can replicate the return of a levered investment without actually borrowing any money. This is incorrect. In static trade-off theory, agency costs of equity increase when CEO’s ownership of the firm is high, not low. This is because when the CEO has a large ownership stake in the company, he/she has a lot to lose if the company performs poorly. Therefore, the CEO will take actions to increase the stock price, such as increasing dividends or investing in profitable projects. In contrast, when the CEO has a low ownership stake, he/she may not be motivated to take such actions as he/she has less to lose. Hence, option b is incorrect.
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A business makes products that involve many different departments in their
production. What type of cost accounting system is best for this purpose?
A. Process costing
B. Activity-based costing
C. Job order costing
D. Product costing
Write H if the resource is a human resource, and NH if it is a nonhuman resource. 1.Machines
2.Tools
3.Workers
4.Land
5.Water
6.Capital
7.Labor force
8.Time
9.Entrepreneur
10.Process
1.H
2.H
3.NH
4.NH
5.H
6.NH
7.H
8.NH
9.H
10.H