The journal entry to close out the $1,500 credit balance of the income summary account would be as follows:
Debit: Income Summary $1,500
Credit: Retained Earnings $1,500
This entry reflects the transfer of the net income or net loss from the income summary account to the retained earnings account. The income summary account is used as a temporary holding account to accumulate the revenues and expenses for a specific accounting period before they are closed out to the retained earnings account. A credit balance in the income summary account indicates that the total revenues for the period exceed the total expenses, resulting in a net income. To close out the income summary account, we debit it for the amount of the credit balance (in this case, $1,500) and credit the same amount to the retained earnings account. By making this entry, the net income is added to the retained earnings, increasing the accumulated earnings of the business. The retained earnings account reflects the cumulative profits or losses of the company since its inception.
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Jane Smith lives at home with her parents at 5678 Main Street in Anytown, Missouri, but she has just put in an application for an apartment. After closing out her credit account with the Checkout store chain, she has only one credit card, from North Valley Credit Union. She currently makes installment payments to Tri-State Bank on her car.
Based on Jane’s profile, what credit accounts should she expect to verify on her credit report? Check all that apply.
a current account with North Valley Credit Union
a mortgage account for her parents’ home
her closed account with Checkout
a current account for her car loan
an account with the apartment complex
Jane Smith should expect to verify a current account with North Valley Credit Union, a current account for her car loan and an account with the apartment complex on her credit report.
What is a current account?A current account is a type of bank account that protects your money and makes smart money management easier. Personal current accounts make it easier for people, corporations, and organizations to pay you (through direct debits and standing orders). Even though you may use other financial instruments, it is your current account that connects the gaps and makes it possible for everything to function properly.
Living without a current account can be very challenging because they provide much of the infrastructure required for making and receiving payments. Current accounts are engrained in our way of life.
While you might think that opening a bank account entails scheduling a visit to your neighborhood bank location, technological advances have made this procedure considerably simpler and faster for you. You might be able to open an account from the comfort of your home without ever having to enter a physical branch, depending on who you are working with.
What is a Credit report?Your credit history is broken down in great detail in a credit report that is created by a credit reporting agency. Lenders use the reports, along with other information, to assess your creditworthiness. Credit bureaus gather financial information about you and compile credit reports based on that information.
Reports contain information about you personally, information about credit lines, public records like bankruptcies, and a list of organizations that have requested a copy of your credit report.
Every one of the three main credit bureaus—Equifax, Experian, and TransUnion—must offer you one free report every year.
Additionally, credit reports include information about accounts that have been reported to credit bureaus, including details about liens and wage garnishments.
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Answer:
a current mortgage with North Valley Credit Union
a current account for her car loan
her closed account with Checkout
Explanation:
have a great day :)
a friend wants to borrow money from you. he states that he will pay you $4900 every 6 months for 11 years with the first payment exactly 3 years and six months from today. the interest rate is 7.2 percent compounded semiannually. what is the value of the payments today?
To calculate the present value of an annuity, you can use the formula PV = PMT * [1 – [ (1 / 1+r)^n] / r], where PV is the present value of the annuity stream, PMT is the dollar amount of each payment, r is the discount or interest rate, and n is the number of periods in which payments will be made
Using this formula with your given values, we get that the present value of your friend’s payments today would be approximately $30,000
The term "annuity" refers to an insurance contract created and sold by financial institutions with the purpose of paying out invested money as a fixed income stream in the future. Through monthly premium payments or one-time lump sums, investors buy annuities.
For either the remainder of the annuitant's life or a predetermined period of time, the holding institution issues a stream of payments in the future. In order to reduce the danger of outliving one's resources, annuities are mostly utilised for retirement-related objectives.
The purpose of annuities is to allay people's concerns about outliving their assets during their retirement years by supplying a consistent cash flow.
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georgia has a health insurance policy that includes a deductible of $750 and a coinsurance of 20 percent. if her total bill is $2,750, how much will she be required to pay?
If her total bill is $2,750, then she will be required to pay $1150.
The amount the insurance company will pay will be the total bill less the amount Georgia will pay. Her amount due = deductible + 20% (total bill - deductible) = $750 + 20% ($2,750 - $750) = $750 + 20% * $2000 = $750 + $400 = $1150.
The deductible is that the sum that should be paid by the patient before the protection organization will start making installments. Deductibles are paid consistently. With repayment protection, patients are repaid for clinical costs after personal installments are made.
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If her total bill is $2,750, then she will be required to pay $1150.
The amount the insurance company will pay will be the total bill less the amount Georgia will pay. Her amount due = deductible + 20% (total bill - deductible) = $750 + 20% ($2,750 - $750) = $750 + 20% * $2000 = $750 + $400 = $1150.
The deductible is that the sum that should be paid by the patient before the protection organization will start making installments. Deductibles are paid consistently. With repayment protection, patients are repaid for clinical costs after personal installments are made.
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1. Why is it so hard to become an accountant in the Philippines when there is a high demand for it?
Accountancy has reportedly been one of the most sought-after courses since, according to what I know. Accountants are in higher demand as additional demand business types start to appear in the developing Philippine economy. The difficulty of staying current with tax legislation is one that accountants continuously deal with.
In the Philippines, all tax and auditing services should be informed of the developments and make effective use of technology. Utilize technology demand to file taxes online. With subjects in math, finance, business, and Accountants, the course load is fairly heavy. Even if some ideas can be difficult, you can succeed if you study the subject and take the time to make sure you comprehend accounting principles in their entirety.
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In what position would you find pennies in a cash drawer?
a. Top right section
C. Bottom right section
b. Top left section
d. Bottom left section
WWW
why would company personnel be interested in knowing the hours during which their site has the most traffic?
The correct response is A) It will help them know when to have more customer-service staff available. Customer service is the assistance you provide to your clients to make their interactions with you simple and joyful, both before and after they purchase and utilize your goods or services.
Customer service refers to the help and guidance a business offers to consumers who purchase or utilize its goods or services. Every industry has distinct standards for customer service, but ultimately, the goal of a well-performed service is to boost profits. Employees "who can modify themselves to the personality of the customer" are critical to the perceived effectiveness of customer service encounters. Customer service practices frequently show a company's strategies and ideals. Customer retention is typically used to gauge how well customer service is performing. For some businesses, providing excellent customer service is one of their intangible assets that sets them apart from competitors. A single instance of excellent customer service can completely alter a consumer's opinion of the company.
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Why would company personnel be interested in knowing the hours during which their site has the most traffic?
A) It will help them know when to have more customer-service staff available.
B) It will help them to know when to open their online store.
C) It will help them decide how much money to put into web development services.
D) It will help them make sure their hosting is sufficient so that the site doesn't crash during peak hours.
1. What is the annual percentage rate (APR) for this credit card?
2. For cash advances what is the APR?
3. What three things would move the APR for the balance on this credit card to 28.99%?
4. What is the annual fee that customers are charged for holding this credit card?
5. If you decided to transfer the balance from another credit card to this credit card, what would be the fee charged?
a. What would be the APR charged for the transferred balance?
6. What is the fee for a cash advance?
7. If you use this credit card in a foreign country, what would be the fee on each transaction you made in the foreign country?
8. If you are late on making a payment, what would be the fee charged?
9. What would be the fee charged if you went over your credit limit?
Answer:
1. For purchases, the APR during an introductory period is either 8.99% or 10.99% or 12.99% depending on creditworthiness. After the introductory period the APR is 14.99%
2. Cash advance monthly rate changes based on what the Prime Rate is that month + 14.99% so if the prime rate is 3, add 14.99 to that so 17.99% of the amount received in cash. So if you take $200 cash advance, the amount charged at 17.99% would be 0.1799 x 200 =$35.98.
3. If the card holder does any of the following: makes a late payment, goes over their stated credit limit, make an account payment that is returned, or commit the afore mentioned acts on another account held by this same creditor the APR is then increased to 28.99%.
4. The annual fee charged for the credit card is $20.
5. The fee for a balance transfer is Either $5 or 3% of the amount that is transferred or $100 (whichever is greater) to this card from another account.
a. The APR charged for a balance transfer is 15.99%, but would vary based on the market Prime Rate.
6. Fee for cash advance is $5 or 3% of the amount of cash advance taken - whichever amount is largest.
7. 2% of the amount charged (in US dollars) in a transaction.
8. A late fee of $25 will be charged on an account with a balance of $999 or less. If the account balance if over $1000 the late fee of $35 will be charged and the APR will increase to 28.99%.
9. A fee of $29 is charged for accounts that exceed the credit limit in addition to an APR increase to 28.99%
Explanation: explanations are with the answers listed above.
2
problems
Problem 1: A company is creating three new divisions and seven managers are eligible to be appointed head of a division. How many different ways could the three heads be selected? (Hint: Assume the di
There are 35 different ways in which the three heads can be selected from the seven eligible managers.
To solve this problem, we can use the concept of combinations. We have seven managers eligible to be appointed as heads of the three divisions.
The number of ways to select three heads from the seven eligible managers can be calculated using the combination formula:
C(n, r) = n! / (r!(n-r)!)
Where:
n = total number of eligible managers (7)
r = number of heads to be selected (3)
Plugging in the values, we have:
C(7, 3) = 7! / (3!(7-3)!)
= 7! / (3! * 4!)
= (7 * 6 * 5) / (3 * 2 * 1)
= 35
Therefore, there are 35 different ways in which the three heads can be selected from the seven eligible managers.
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Advances in technology has increased the number of people needed to
A. Develop computer software
B. Teach children in schools
C. Work on assembly lines
D. Serve in the military
Answer:
A. develop computer software
the added value that a certain brand name gives to a product in the marketplace is called _____.
The added value that a certain brand name gives to a product in the marketplace is called brand equity.
Brand equity refers to the intangible value or worth attributed to a brand name. It represents the perception, recognition, and reputation that a brand has built among consumers over time. Brand equity is a result of various factors such as brand awareness, brand associations, perceived quality, brand loyalty, and brand image.
A strong brand with high brand equity can command premium pricing, enjoy customer loyalty, and have a competitive advantage in the market. It represents the added value that consumers are willing to pay for a product or service simply because of its association with a trusted or desirable brand name. Building and maintaining brand equity is an important goal for businesses as it can contribute to long-term success and customer preference.
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Brand equity is the extra value that a particular brand name adds to a product in the marketplace.
Brand equity refers to the intangible value that a brand possesses, which allows it to command a premium price, enjoy customer loyalty, and differentiate itself from competitors.
Brand equity is built over time through various factors such as brand recognition, brand reputation, brand associations, and brand loyalty. When consumers trust and perceive a brand positively, they are more likely to choose that brand over others, even if similar alternatives are available at lower prices. This preference is often based on emotional connections, perceptions of quality, and overall brand image.
A strong brand name can provide several advantages to a product in the marketplace. It can enhance customer perception of product quality and reliability, create a sense of trust and familiarity, and instill confidence in the purchase decision. Brand equity can also enable a company to enter new markets or introduce new product lines more easily, as the brand's reputation and recognition serve as a valuable assets.
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Franky believes that there should be no trade restrictions for any reason. What effect would frankly say that trade restrictions have on prices?
a. Hew would argue that by encouraging competition with trade restrictions, prices are likely to decrease
b. He would argue that restrictions would cause greater competition and therefore lead to higher prices
c. He would say that trade restriction's have no impact on prices, but they do restrict consumer choice
d. He would say that restrictions reduce competition and therefore cause an increase in prices
e. He would argue that trad restrictions increase prices because they break up domestic monopolies
Franky would argue that trade restrictions increase prices because they reduce competition.
Franky believes that there should be no trade restrictions for any reason. In this context, he would argue that trade restrictions have a negative effect on prices. According to Franky's viewpoint, trade restrictions reduce competition in the market, leading to higher prices. When there are restrictions on trade, such as tariffs or quotas, it limits the entry of foreign goods into the domestic market. This reduction in competition allows domestic producers to have more control over prices, resulting in higher prices for consumers.
Franky's argument is based on the belief that competition is beneficial for consumers as it encourages efficiency, innovation, and lower prices. By removing trade restrictions, Franky contends that it would promote competition by allowing more players to enter the market, leading to increased choices for consumers and ultimately driving prices down.
Overall, Franky's perspective is that trade restrictions have a negative impact on prices as they reduce competition, resulting in higher prices for consumers. He advocates for free trade as a means to promote competition and achieve lower prices in the market.
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what does sinclair say regarding cleaning the waste barrels? describe what was often in the barrels. what would happen with the materials from the barrels?
They would take cartload after cartload of it, throw it into the hoppers with fresh meat, and then distribute it to the public for breakfast. In the barrels, there would be dirt, rust, old nails, and stale water.
Describe a trash drum.The 55-gallon drums known as hazardous waste drums, which are used to store and transport hazardous waste, are available in a variety of sizes, materials, and closure types.
How big are burn barrels?The 55-gallon drum serves as the basis for the ordinary and conventional burn barrel. Modern burn barrels are available in a variety of sizes, ranging from 20 gallons to over 55 gallons, despite the fact that this was the first and most popular type of burn barrel. There are various ways to get a 55-gallon barrel.
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. A quadratic polynomial whose one zero is 6 and the sum of the zeroes is 0, is x*2-6
True
False
pls tell fast
Answer:
False
Explanation:
From the question, we can see that a quadratic polynomial is made up of two elements or variables called zeros in this question
From the question, we are told that one variable (zero) = 6
The second variable (zero) = unknown , therefore we can represent the second variable as Y
We are told that the sum of the variables = 0
This means:
6 + Y = 0
Therefore, Y = 0 - 6
Y = -6.
The second variable ( zero) = - 6
Since it is a quadratic polynomial,
The roots of the polynomials are the variables 6 and -6
Hence, we have:
(x + 6) (x - 6) = 0
Expanding the brackets
x² - 6x + 6x - 36 = 0
= x² - 36 = 0
Therefore, a quadratic polynomial whose one zero is 6 and sum of the zero is 0 is x² - 36 = 0
This means the statement made in the question above "A quadratic polynomial whose one zero is 6 and sum of the zero is 0 is x²-6" is false
All of the following actions lead to the payment of a credit card fee EXCEPT... a) Using your credit card to get cash from an ATM. b) Using your credit card to purchase items in a foreign country. c) Paying your credit card bill ten days after the Due Date. d) Paying your credit card bill in full and on time every month.
Answer:
d) Paying your credit card bill in full and on time every month
Explanation:
Credit cards are a convenient manner to pay for shopping and other expenses. However, they have numerous interest charges that may add to huge amounts if one is not careful.
Credit card charges interest on bill paid after their due date. Paying the entire credit card bill at the end of every month is one way of avoiding penalties.
Using a credit card to withdraw cash attracts charges, the same as making foreign transactions.
Answer:
d) Paying your credit card bill in full and on time every month
Explanation:
Social media listening falls under which of the following types of research?
Select one:
a. Ethnographic research.
b. Netnography research.
c. Sentiment research.
d. Observational research.
e. Survey research.
Social media listening falls under the type of research called "Netnography research". The type of research method it is gives access to allow individuals to observe the online communities, comprehend the various sentiments and moods among the people, and then develop a main answer from the research.
Explanation:Netnography is a research methodology that includes the study of online communities. In other words, netnography is the technique of ethnography utilized to investigate computer-mediated communication and social interaction in online communities. It is a form of qualitative research used to analyze online communities and the communication that takes place there.Netnography is utilized by social media analysts and marketers to gather data on their brand or product and understand the opinions and sentiment of their target market.Social media listening falls under the type of research called "Netnography research". It is an observational research method that involves taking notice of how people interact with online communication tools.
Social media listening is an approach that focuses on gathering data from social media. Netnography is a research methodology that includes the study of online communities. In other words, netnography is the technique of ethnography utilized to investigate computer-mediated communication and social interaction in online communities. It is an observational research method that involves taking notice of how people interact with online communication tools.
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From the different types of research that we have, we can say that Social media listening falls under d. Observational research.
What is Observational research.Social media listening involves monitoring and analyzing conversations, discussions, and mentions of a brand, product, or topic on social media platforms. It is a method of observing and gathering information from social media channels.
Observational research involves systematically observing and recording behaviors, events, or phenomena without manipulating or intervening in the natural environment. In the case of social media listening, researchers observe and analyze the content and conversations happening on social media platforms without directly influencing or controlling them.
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what is a system in which either employees or the system itself can override the normal delivery system to fix guest problems when it fails?
A system in which either employees or the system itself can override the normal delivery system to fix guest problems when it fails is known as an exception handling system.
This system is designed to address any unforeseen issues that may arise during the guest experience, such as delayed flights, lost baggage, or overbooked rooms. The exception handling system allows for employees or the system itself to quickly identify and resolve any issues to ensure the guest is satisfied with their experience. This system is crucial for any business that places a strong emphasis on customer service, as it allows for the prompt resolution of any issues that may arise. By having a robust exception handling system in place, businesses can ensure that their customers have a positive experience and are more likely to return in the future.
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How is a federal loan different from a private loan for an education?
A federal loan is available for any student who meets the government’s lending standards. A private loan is only available for students who show a need.
A federal loan is only available for students who show a need. A private loan is available for any student who meets the bank’s lending standards.
A federal loan can only be used to pay for a student’s tuition. A private loan can be used to pay for a student’s tuition and any other expenses.
A federal loan can be used to pay for a student’s tuition and any other expenses. A private loan can only be used to pay for a student’s tuition.
Answer:
A federal loan is only available for students who show a need. A private loan is available for any student who meets the bank’s lending standards.
Explanation:
Federal student loans are funded by the government using public resources. The terms and conditions of Federal student loans are as set out in the law governing the loans. Qualification, as set out, is on a need basis. Federal student loans have more benefits, including low fixed interest rates and demand for repayment after leaving college.
Private loans are issued by other lenders, such as commercial banks. Qualification for such a loan is meeting the terms and conditions set out by the lending organizations. Banks and other lenders always insist on repayment while students are still in school. Private loans are much expensive compared to federals loans.
Answer:
B
Explanation:
just took the test
Tessa is in charge of planning a marketing campaign for a new type of candy. Tessa's
company has told her that they want this candy to appeal to people who are health
conscious and interested in natural products. This is known as the
for the candy.
Answer: Candy for health conscious and love natural products
Explanation:
Endangered Species Dark Chocolate Bites is a kind of candy which has high content of cocoa and low content of sugar. It helps lower risk of heart diseases and stroke but also should be taking in moderation as excess of it won't be helpful
A tax that takes a higher percentage of income from people with lower
incomes is a
A. progressive tax
B. deductive tax
C. dependent tax
D. regressive tax
A regressive tax is a tax that takes a higher percentage of income from people with lower incomes. Hence, option D is correct.
What is regressive tax?When the overall tax burden drops as income increases, the tax is said to be regressive. While middle- and high-income taxpayers suffer a proportionally smaller part of the tax burden, low-income taxpayers bear a disproportionately large share.
Every taxpayer, regardless of economic level, pays the same amount of money, a regressive tax may initially seem to be a fair method of taxing residents. A closer analysis reveals that such a tax results in lower-income persons paying a bigger percentage of their income than do wealthy ones.
Thus, option D is correct.
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what is our role in taking care of earth? *idk how to start a sentence*
Answer:
Our earth is a nice place and to keep it nice we need to do these things: and so on
11. This year, teachers can eam a $250 tax credit on money they spend in their classrooms. How will this tax credit affect the teachers' tax returns?
A. The $250 will come directly off of the amount of taxes the teachers owe.
B. The $250 will be subtracted from the teachers' gross incomes.
C.This credit will put them in higher tax brackets.
D.This credit is not big enough to make any impact on the teachers' taxes.
Answer: A. The $250 will come directly off of the amount of taxes the teachers owe.
Explanation:
When given a tax credit of a certain amount, it means that you can deduct that amount from the taxes you owe which means that the taxes you are to pay will be reduced. If you received a tax credit of $500 for instance and you owed taxes of $2,000, your taxes would become $1,500.
In this scenario therefore, with the teachers receiving a tax credit of $250, taxes that the teachers owe will be reduced by $250.
What percentage of job opening are published?
a 10% 15%
C. 3096 - 359
d. 35% 40%
Please select the best answer from the choices provide
wait:( is there's no b because my answer on my own work is b
why is it important to protect profit motive in a mixed economy
Answer:
A company's profit motive benefits consumers by ensuring the products and services they need are available at a high quality.
Explanation:
I looked it up, cause I don't know much about this stuff, but I hope it helps you!
Auditors may choose not to confirm accounts payable because:
The auditor may choose not to check the liability as other reliable external evidence is likely available to support the balance.
What is an auditor?An auditor is a person who verifies the accuracy of recorded commercial transactions. Auditors need to confirm that the processes are working as planned and that the financial statements prepared by the organization fairly reflect its operations and financial results. They mainly deal with statutory audits.
It examines the company's financial records and accompanying financial report presentations. This person can also independently analyze various processes within the company and assess the level of corporate governance. Internal auditors report their findings and suggestions for improvement to the Board of Directors.
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bryan wants to target the market for his pool cleaning service. he has thoroughly studied his customers. what other information does bryan need?
If Bryan has thoroughly studied his customers, he may already have a good understanding of their demographics, location, preferences, and buying behavior. However, to effectively target the market for his pool cleaning service, he may need to gather additional information such as:
Competition: Bryan should research his competitors to understand their strengths, weaknesses, pricing strategies, and marketing approaches. This information will help him identify gaps in the market that he can exploit to differentiate his service and attract more customers.
Industry trends: Bryan should keep track of the latest trends and developments in the pool cleaning industry. This information will help him stay ahead of the curve and adapt his service to meet the changing needs and preferences of his customers.
Marketing channels: Bryan should identify the most effective marketing channels to reach his target market. This could include online advertising, social media, word-of-mouth referrals, direct mail, or local publications. By understanding which channels his customers are most likely to use, Bryan can allocate his marketing budget more effectively.
By gathering and analyzing this additional information, Bryan can refine his targeting strategy and increase the effectiveness of his marketing efforts.
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Prompt
What are company values?
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Answer:
As a definition, company core values are the clearly stated principles about the organization’s vision, mission, and principles. That way, everyone is aligned around a guiding philosophy to serve employees, customers, and the broader community.
That can also double as the definition of company culture. In many ways, values and culture are synonymous. They’re both about the higher aspirations of a company. The result is the DNA fundamental to a company’s identity
Stakeholders and their influence- Who are the stakeholders of your business? How do these stakeholders influence your business? for a pharmacy business
Answer:
The stakeholders of a pharmacy business include:
Customers: They are the primary stakeholders of the business. They influence the business by determining the demand for the products and services offered by the pharmacy.
Employees: They are responsible for the day-to-day operations of the business. They influence the business by their level of productivity, job satisfaction, and employee retention.
Suppliers: They supply the products and services needed to run the business. They influence the business by their ability to deliver products and services on time and at a reasonable cost.
Shareholders: They own the business and have a vested interest in its financial performance. They influence the business by providing capital and by making decisions about the direction of the business.
Government: They regulate and oversee the pharmacy industry. They influence the business by imposing regulations and laws that the pharmacy must comply with.
Competitors: They also influence the business by determining the level of competition and the prices of products and services in the market.
Community: The community in which the pharmacy is located also influences the business through public opinion and support.
Health Care Providers: They play a vital role in the pharmacy business as they prescribe the medications and influence the demand of the products and services offered by the pharmacy.
Stakeholders influence the pharmacy business by making decisions, providing support, creating competition, and setting regulations. A pharmacy must take into account the interests and needs of all of its stakeholders in order to be successful in the long term.
Explanation:
an employee can be dismissed if their job surplus to requirements' outline why this state ment is false
In general, reducing the number of periods (n) used to pay off credit card debt but keeping the present value (PV) and interest rate (i) the same will __________. A. Reduce the monthly payment (P) b. Increase the monthly payment (P) c. Eliminate the monthly payment (P) d. Have no effect on the monthly payment (P) Please select the best answer from the choices provided. A B C D.
Credit card debt occurs when a credit card company's customer buys an item or service via the card system.
Is a credit card a form of debt?Revolving debt, such as credit card debt, is a sort of revolving debt. You can borrow month after month as long as you repay enough to ensure that you never owe more than your credit limit. Credit card accounts, unlike installment loan accounts, can be used continuously and are canceled once the debt is paid off.
As a result, Option B is the correct answer for the blank.
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distinguish between supermarket and hypermarket (five points each)
Answer:
A Supermarket is a large store, but a Hypermarket is much bigger than a Supermarket. Hypermarkets store a higher number of FMCG products than a Supermarket.