True/False: the term logistics refers to the movement of finished products, semi-finished products, components, and materials between various locations.

Answers

Answer 1

The statement is true. The term logistics refers to the movement of finished products, semi-finished products, components, and materials between various locations. It involves planning, implementing, and controlling the efficient and effective flow and storage of goods to meet customer requirements.

Modern corporate operations require logistics, which includes the organization, planning, and execution of the movement of goods and commodities between various sites. The phrase describes the total process of ensuring that products are delivered to the proper location at the appropriate time, in the proper quantity, and in the proper condition. It includes regulating the flow of products from raw materials and components to finished goods. For businesses to increase operational efficiency, reduce costs, and satisfy consumer demands, effective logistics management is essential. We'll delve more into the many logistics-related topics in this reply.

Logistics is primarily concerned with moving products and materials between different facilities, including factories, warehouses, distribution centers, and retail outlets. In order to satisfy client demand and keep business operations running smoothly, it is important to make sure that the appropriate products are available at the appropriate time and location. Professionals in logistics employ a variety of tools and strategies to do this, including supply chain optimization, inventory management, and transportation planning.

Finally, logistics, which includes the organization, planning, and execution of the movement of goods and commodities between various sites, is a crucial part of contemporary company operations. For businesses to increase operational efficiency, reduce costs, and satisfy consumer demands, effective logistics management is crucial.

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Related Questions

although anorexics feel a(n) __________ over eating, bulimics feel a _____________.

Answers

Answer:

Although anorexics feel a(n) _Sense of control_____ over eating, bulimics feel a _ lack of control._____  Unfortunately, the drive for thinness in ...

Explanation:

PLS help, 25 pts and brainliest will be given !
How can reflecting on morals and ethics; help you identify your areas of strengths and weaknesses?

Answers

Explanation:

Identifying your strengths and weaknesses can be extremely valuable. Not only will it allow you to approach tasks and challenges with a better understanding of how to succeed and what pitfalls to look out for, but it also allows you to effectively communicate what you can contribute, which is essential for things like job interviews.

Distinguishing your qualities and shortcomings can be very significant. Not exclusively will it permit you to move toward assignments and difficulties with a superior comprehension of how to succeed and what traps to pay special mind to, yet it likewise permits you to viably convey what you can contribute, which is fundamental for things like new employee screenings.

Under the deemed substantiation method of accounting for expenses, what is the maximum amount taxpayers are allowed as a deduction without being required to substantiate the amount of the expenses? a.The per diem rate established by the state in which they live. b.The appropriate Federal per diem amount. c.All expenses up to $25 per day. d.$75 per day. e.None of these choices are correct.

Answers

Answer:

b. The appropriate Federal per diem amount.

Explanation:

These special diem per rates for taxpayers would be used in substantiating the ordinary amount and important business expenses that are expense at the time when travelling to be done especially the special transportation industry meal and rates of incidental expenses, the deduction with respect to the incidental expenses, and the rates & high-cost localities list for the motive of the high-low substantiation method.

briefly describe what is meant by the organizational structure and explain any three examples of organizational structure used by businesses​

Answers

Explanation:

Organizational structure : Framework for managers which shows the division of responsibilities and roles played by each stakeholder

Examples :How the business carries it self

: Does the business have ethical issues

: Does the business have a code of conduct

In order for the inter-connectivity of devices to work in the Internet of Things (IoT) model, there must be laws for connecting devices.

Select one:

True

False

Answers

Laws for connecting devices are not required for the interconnectivity of devices to work in the Internet of Things (IoT) model. The given statement is false.

The statement is false. The interconnectivity of devices in the Internet of Things (IoT) model does not necessarily require specific laws for connecting devices. The IoT is primarily driven by technological standards, protocols, and interoperability guidelines that enable devices to communicate and exchange data seamlessly.

These standards and protocols are developed by industry organizations, technology consortia, and governing bodies, but they are not legal requirements. However, it is important to note that legal and regulatory frameworks may exist to address certain aspects of IoT, such as privacy, data protection, security, and liability.

Laws and regulations may come into play when it comes to issues like data privacy and security breaches, consumer protection, intellectual property rights, and compliance with industry-specific regulations.

These legal considerations are crucial for protecting individuals' rights, ensuring the ethical use of data, and mitigating risks associated with IoT deployments. Nonetheless, the interconnectivity of devices itself does not depend on specific laws for connectivity.

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Laws for connecting devices are not required for the interconnectivity of devices to work in the Internet of Things (IoT) model. The given statement is false.

The statement is false. The interconnectivity of devices in the Internet of Things (IoT) model does not necessarily require specific laws for connecting devices. The IoT is primarily driven by technological standards, protocols, and interoperability guidelines that enable devices to communicate and exchange data seamlessly.

These standards and protocols are developed by industry organizations, technology consortia, and governing bodies, but they are not legal requirements. However, it is important to note that legal and regulatory frameworks may exist to address certain aspects of IoT, such as privacy, data protection, security, and liability.

Laws and regulations may come into play when it comes to issues like data privacy and security breaches, consumer protection, intellectual property rights, and compliance with industry-specific regulations.

These legal considerations are crucial for protecting individuals' rights, ensuring the ethical use of data, and mitigating risks associated with IoT deployments. Nonetheless, the interconnectivity of devices itself does not depend on specific laws for connectivity.

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financial information is presented below: operating expenses $ 50000 sales revenue 214000 cost of goods sold 131000 the gross profit rate would be

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To calculate the gross profit rate, we need to first calculate the gross profit. Gross profit is the difference between sales revenue and cost of goods sold. In this case, the gross profit is $214,000 - $131,000 = $83,000.

Now, to calculate the gross profit rate, we need to divide the gross profit by the sales revenue and multiply by 100 to get the percentage. So, the gross profit rate would be:
Gross profit rate = (Gross profit / Sales revenue) x 100
Gross profit rate = ($83,000 / $214,000) x 100
Gross profit rate = 38.79%
This means that for every dollar of sales revenue, the company earns a gross profit of 38.79 cents.
It's important to note that the gross profit rate only takes into account the cost of goods sold and doesn't include operating expenses. Operating expenses are the costs incurred to run the business, such as salaries, rent, utilities, and advertising. To determine the profitability of the business, we need to consider the net profit, which is calculated by subtracting the operating expenses from the gross profit.

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Suppliers have more time to devote to postsale services because:
O A. supply chain management is no longer a critical element in the buying process.
O B. of the automation of routine transactions in the purchasing process.
O C. buyers and sellers have become independent of each other.
O D. the overall cycle time of the purchasing process has increased.
O E. of a decline in relationship-building activities between buyers and suppliers.

Reset Selection Question 48 of 50 2 Points Which of the following forms of marketing involves talking with buyers before, during, and after the sale?
O A. Personal selling
O B. Public relations
O C. Direct marketing
O D. Sales promotion
O E. Electronic marketing

Answers

The sales rep is in charge of soliciting orders from current or potential outlet stores while selling products and attending to customer demands.

What methods are there for purchasing?

The systematic acquisition of goods and services for strategic purposes is referred to as purchasing. Purchasing measures are critical to ensure that the relevant materials are acquired quickly and economically.

What is a good example of buying?

Buying is often more transactional and focused on the near term. It entails activities including placing orders, creating purchase requisition, receiving, and setting up payments. Instead of seeking the highest total value, buyers frequently focus on getting products at the lowest possible cost.

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Question 10 of 20
What is the difference between a market economy and a command
economy?
A. A market economy is determined by central authority and a
command economy is determined by consumers,
B. A market economy is determined by consumers while a command
economy is determined by both consumers and central authority
C. A market economy is determined by both central authority and
consumers while a command economy is determined by only
consumers
D. A market economy is determined by consumers and a command
economy is determined by central authority,

Answers

The answer would be D

according to philosopher norman bowie, managers have a responsibility to maximize profits as long as they multiple choice are confident and do charitable work. respect human rights and cause no harm. adhere to rules and regulations. contribute to charitable organizations.

Answers

According to philosopher Norman Bowie, managers have a responsibility to maximize profits as long as they B: "respect human rights and cause no harm".

According to philosopher Norman Bowie, managers have a responsibility to prioritize ethical considerations when making business decisions. This includes ensuring that their actions respect human rights and cause no harm to individuals, communities, or the environment. Bowie argues that maximizing profits should not be the sole focus of managers and that they must also consider the social and ethical implications of their decisions. By considering these factors, managers can make decisions that not only benefit the business but also contribute to a better society and environment.

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When bakeries produce sliced bread, they also produce bread crumbs. Bakeries sell the sliced bread to families and sell the bread crumbs to fish shops. When the price of bread crumbs rises, what happens to the supply of sliced bread and its price?
Sliced bread and bread crumbs are ________. When the price of bread crumbs rises, the supply of sliced bread ________ and the price of sliced bread ________.
A.
substitutes in production; increases; falls
B.
complements in production; increases; falls
C.
complements in production; does not change; does not change
D.
substitutes in production; decreases; rises
Answer correctly and explain it properly within 40 mins will give you positive feedback. No short answers.

Answers

The correct answer is A. substitutes in production; increases; falls.

Sliced bread and bread crumbs are substitutes in production. This means that the resources used to produce one can be easily shifted to produce the other. When the price of bread crumbs rises, bakeries have an incentive to allocate more resources towards producing bread crumbs instead of sliced bread since it becomes more profitable. As a result, the supply of sliced bread decreases because resources are being diverted to bread crumbs production.

With a decrease in the supply of sliced bread, assuming demand remains constant, the price of sliced bread is likely to rise. The reduced supply means there is less sliced bread available in the market, leading to an increase in its price as consumers compete for the limited supply.

This relationship between the price of bread crumbs, the supply of sliced bread, and the price of sliced bread illustrates how changes in the input prices and production of related goods can impact the supply and price of final goods in the market.

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List your personal and professional goals and create an individual career plan. Your plan should have specific milestones and achievements and should span 10 years.

can someone help me I want to go into the Navy or be a Tattoo artist and I can't think of anything for this.
30 POINTS!!

Answers

Explanation:

Setting specific, measurable career development goals can help you get to the next level in your career. While developing a career plan can entail a significant amount of work, it will pay off in helping you to understand where you want to go with your career next and what you need to do to get there.

Creating and implementing an employee career development plan allows you to feel motivated at work, even if you haven’t found your dream job just yet, because it helps you to make concrete plans to get there.

Here, we define a career development plan template and outline five steps to easily and efficiently make an individual development plan for yourself.

What would happen to a firm's demand in a monopolistically competitive market if there was an increase in the number of consumers?

Answers

If there was an increase in the number of consumers in a monopolistically competitive market, a firm's demand would likely increase.

In a monopolistically competitive market, firms sell products that are differentiated from those of their competitors, and consumers have a certain degree of brand loyalty or preference for a particular product. As the number of consumers in the market increases, more people become aware of the firm's product, and the demand for that product may increase.

Monopolistically competitive markets are characterized by a large number of firms that sell differentiated products. Each firm has some degree of market power, but there are low barriers to entry, which means that new firms can enter the market relatively easily. In this type of market, firms are price makers, meaning that they have some control over the price of their product, but they must also take into account the prices of their competitors.

If the number of consumers in the market increases, this can lead to an increase in demand for a firm's product. This is because there are more potential customers who may be interested in purchasing the product. As a result, the firm may be able to increase its price and still maintain its market share, leading to higher profits.

However, it is important to note that this effect may be limited if other firms also increase their output in response to the increase in demand. In this case, the increased competition may lead to lower prices and profits for all firms in the market.

In summary, an increase in the number of consumers in a monopolistically competitive market may lead to an increase in a firm's demand, but the extent of this effect depends on various factors, such as the degree of product differentiation and the response of other firms in the market.

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Assess three factors that have had a positive impact on e-business in recent years​

Answers

We proposed the factors influencing SMEs' adoption of e-commerce. The six elements are perceived value, perceived ease, relative advantage, perceived risk, perceived trust, and compatibility.

What advantages do firms receive from online shopping?

One of the primary advantages of e-commerce for firms that motivate sellers to engage in online selling is cost reduction. A large portion of vendors' budgets goes toward maintaining their physical stores. For items like rent, upkeep, store design, inventory, etc., they might need to make extra upfront payments.

How has the corporate world been affected by e-commerce so far?

E-commerce will represent 20.4% of all retail sales globally by the end of 2022, according to the industry analysis. Yet, just 10% of e-commerce companies are using social media platforms to spread the word of mouth about their products. By 2023, 14.1% to 22% more people are expected to make purchases online.

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an organization launched a new product in the market. it offered a free trial of the basic model to gain widespread initial use, after which users were offered a nonfree premium version of the same product. which of the following strategies is used by the company in this case?

Answers

The company is used by the company in this case is: a Cross Sell Strategy.

This strategy involves the offering of a free basic model to gain initial usage and then offering a premium version of the same product that is not free. This strategy is typically used by companies to entice people to try a product and then once they become comfortable with it, they are encouraged to purchase the upgraded version.

This strategy also helps the company to have a better understanding of the customer base and their preferences. This is a great way to gain more customers and increase profit margins.


What is cross-sell strategy?

Cross-sell strategy is a marketing tactic that involves recommending or promoting additional products or services to a customer who has already made a purchase. This technique is used to encourage customers to buy more products, increase sales revenue, and improve customer satisfaction.

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Complete question:

An organization launched a new product in the market. It offered a free trial of the basic model to gain widespread initial use, after which users were offered a nonfree premium version of the same product. Which of the following strategies is used by the company in this case?

A)A blue ocean strategy

B)A cross-sell strategy

C)A third-party pay strategy

D)A bundling strategy

What is the best animal?

Answers

Answer: The answer is Dogs

Explanation: Dogs are the best animal because They're not just popular- historically, the symbiotic relationship between dogs and people helped both species survive.

jia chun is trying to calculate the taxable equivalent yield for a municipal bond. if the bond she owns pays 3 percent interest and she is in the 27 percent tax bracket, what is the taxable-equivalent yield (round to nearest percent)?

Answers

The taxable-equivalent yield for Jia Chun's municipal bond is approximately 4.11 percent (rounded to the nearest percent).

To calculate the taxable-equivalent yield for a municipal bond, Jia Chun needs to consider her tax bracket and the interest rate of the bond. In this case, the bond pays a 3 percent interest rate, and Jia Chun is in the 27 percent tax bracket.

The taxable-equivalent yield is the yield a taxable bond would need to have in order to match the after-tax yield of a tax-exempt municipal bond. Since municipal bond interest is generally tax-exempt, Jia Chun's taxable-equivalent yield will be lower than the bond's stated interest rate.

To calculate the taxable-equivalent yield, we can use the following formula:

Taxable-Equivalent Yield = Municipal Bond Yield / (1 - Tax Rate)

In Jia Chun's case, the municipal bond yield is 3 percent, and her tax rate is 27 percent (0.27 in decimal form). Plugging these values into the formula:

Taxable-Equivalent Yield = 3% / (1 - 0.27)

= 3% / 0.73

≈ 4.11%

Therefore, the taxable-equivalent yield for the municipal bond Jia Chun owns is approximately 4.11 percent (rounded to the nearest percent). This means that a taxable bond would need to yield around 4.11 percent for Jia Chun to achieve the same after-tax return as her tax-exempt municipal bond.

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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.

Answers

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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Discontinuous change is characterized by _____, in which an old technology and several different new technologies compete to establish a new technological standard or dominant design.
a. technological singularity
b. design substitution
c. design competition
d. technological lockout

Answers

Discontinuous change is also characterized by design competition, in which the old technology and a lot different new technologies compete to set up a new technological standard.

What is a discontinuous change?

Discontinuous change, also known as discontinuous technological change, is a term that connote the  external alterations that needs internal adaptation.

This is one that is found on a path that is said to be nonlinear and it is also relative to the company's traditional innovation trajectory.

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Which are examples of copyrighted online materials? Check all that apply.

an article from an Internet magazine
lyrics for a song written in the 1800s
photos taken by a student on his blog
a video game that is free for anyone to copy
an illustration sold by an artist on her website
an excerpt from a novel published in 1913

Answers

Answer:

a and d

Explanation:

Answer:

A & E

Explanation:

edge test

What are some interview tips?

Answers

Answer:

give em a stong hand shake :)

Explanation:

QUESTION 4: ENVIRONMENTAL ISSUES
4.1. Read the scenario below and answer the questions that follow.

NAZIM MANUFACTURERS (NM) Nazim Manufacturers specialises in the manufacturing of furniture and cutlery. Farida, the CEO, provides all the equipment that is necessary to perform the work. The employees of NM use prescribed safety equipment. NM also encourages employees to do regular health checks. The employees of NM requested their colleagues Jan, Elsie, Thula and Craig to ensure that NM complies with COIDA.

4.1.1. Quote the responsibilities of the employer, employee and the business in protecting human health and safety in the workplace from the scenario above. (3) ​

Answers

Environmental issues are results of human interest in the biophysical environment, most customarily of that are dangerous results that purpose environmental degradation.

Main modern Environmental issues may encompass weather change, pollutants, environmental degradation, and useful resource depletion. The conservation motion lobbies for the protection of endangered species and protection of any ecologically precious herbal areas, genetically modified foods, and international warming.

These encompass pollutants, overpopulation, waste disposal, weather alternatives, worldwide warming, the greenhouse effect, and many others.

The listing of Environmental issues in our surroundings goes on, however, there are 3 major ones that affect the general public overall: international warming and climate change; water pollutants and ocean acidification; and lack of biodiversity.

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how should a state or local governmental unit that sponsors an external investment pool not held in a trust meeting certain criteria report the external portion of the pool?

Answers

If a state or local governmental unit sponsors an external investment pool that is not held in a trust meeting certain criteria, it is important for them to report the external portion of the pool accurately and transparently. This is necessary to ensure that stakeholders have a clear understanding of the financial situation and can make informed decisions about investments.

The reporting requirements for external investment pools may vary depending on the state or local government's specific regulations and guidelines. However, in general, the external portion of the pool should be reported separately from other assets and investments that are held in a trust.

Overall, reporting the external portion of an investment pool that is not held in a trust meeting certain criteria requires careful attention to detail and adherence to regulatory guidelines. By providing transparent and accurate information, state and local governments can help to ensure that stakeholders are able to make informed decisions about investments and financial management.

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How do bonds generate income for investors?

A. Bonds depreciate in value.
B. Bonds protect investors from bankruptcy.
C. Bonds pay interest to the bank that sold the bond.
D. Bonds pay a specified amount to the investor at maturity.

Answers

Answer: D) bonds pay a specific amount to the investor at maturity

Explanation:

Bonds generate income for investors: B. Bonds protect investors from bankruptcy.

Bonds are considered to be safer investments as compared to the stocks because the bondholders can claim on the money generated by deposition of bonds in the event of bankruptcy. It becomes one of the source of income in scarcity of money. Bonds depreciates in value with time. The value of the bond reduces with as that of its face value. Bonds pay principle interest to the bond holder rather than to the bank. There is no surety of getting a specified amount after the maturity of bond as the value of bond depreciates with the time.

Hence, option B is correct.

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Greenspan Supply does not segregate sales and sales taxes at the time of sale. The register total for March 16 is $10,388. All sales are subject to a 6% sales tax.
Compute sales taxes payable. Make the entry to record sales taxes payable and sales.

Answers

To compute the sales taxes payable for Greenspan Supply, we need to multiply the total sales by the tax rate. In this case, the sales tax payable would be $623.28.


How to find?


To record this transaction, we would make the following entry:
Debit: Cash $11,011.28 (10,388 + 623.28)
Credit: Sales $10,388
Credit: Sales Taxes Payable $623.28

This entry reflects the total amount received, the sales amount, and the sales tax collected, which is recorded as a liability until it is remitted to the government.

It is important for businesses to segregate sales and sales taxes to ensure accurate reporting and compliance with tax laws. Failing to do so can result in penalties and legal issues.

Proper record-keeping is essential for businesses to operate successfully and avoid costly mistakes.

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How is the restaurant manager’s experience different from the customer’s experience?

Answers

Answer:

The restaurant Manager has in-depth knowledge of their business, workers, and income. While a customer might know a workers name a restaurant Manager knows their past record, their education level, and connections.

A manager also might deal with the money, meaning counting bills, change, while a customer simply pays.

Explanation:

Sorry if the question is looking for more specifics.

what were capital resources in the kingdom of mocha

Answers

Answer:

Bartering and the use of natural resources

Explanation:

It is correct

2 Type the correct answer in the box. Spell all words correctly. Which law regulates online credit reporting in the United States? regulates online credit reporting in the US. ​

Answers

Answer:

The Fair Credit Reporting Act

Explanation:

The Fair Credit Reporting Act (FCRA) is the law that regulates online credit reporting in the United States. It was passed in 1970, and it helps in ensuring the privacy, fairness, and accuracy of the data in consumer credit bureau files. This law provides guidelines on the way credit bureaus can collect and share information on an individual customer.

The FCRA protects the rights of consumers to access their own credit reports.

Demarco and janine jackson have been married for 20 years and have four children who qualify as their dependents (damarcus, janine, michael, and candice). the couple received salary income of $100,000, and they sold their home this year. they initially purchased the home three years ago for $200,000 and they sold it for $250,000. the gain on the sale qualified for the exclusion from the sale of a principal residence. the jacksons incurred $16,500 of itemized deductions, and they had $6,250 withheld from their paychecks for federal taxes. they are also allowed to claim a child tax credit for each of their children. (use the tax rate schedules.)

Answers

Answer:

Using the 2019 tax schedules, the Jacksons should receive a refund of $5,573.

Explanation:

UI used the 2019 tax brackets  since no year was given and 2019 is the last one due.

The $50,000 gain resulting from the sale of their house qualifies for exclusion, then it will not be included in their tax liabilities.

AGI = $100,000 (only salary income, no other income reported)

itemized deductions = $16,500

standard deduction for married filing jointly = $24,400 (this is larger, so we will select the standard deduction)

total taxable income = $100,000 - $24,400 = $75,600

total tax liability = $1,975 + [12% x ($75,600 - $19,750)] = $8,677

withheld taxes = $6,250

taxes owed = $2,427

child credits = 4 x $2,000 = $8,000

net tax liability = $2,427 - $8,000 = ($5,573) which are refundable

This means that the Jacksons should receive a refund of $5,573.

(Up to $1,400 of the child tax credit is refundable per child, so up to $1,400 x 4 = $5,600 are refundable)

A scale drawn on the map shows that 1 inch represents 40 miles. If two cities are 2.5 inches apart on the map, what is the distance between them in real life?

A. 100 Miles
B. 90 Miles
C. 70 Miles
D. 60 Miles​

Answers

D.60 miles and the inch represent

If two cities are 2.5 inches apart on the map, 60 Miles​ is the distance between them in real life. Thus, its D.

What is a map?

A map is a sign that emphasizes the connections between various components of a space, such as locations, themes, or objects. Some maps are dynamic or interactive, while others are static and attached to paper or another long-lasting material.

Maps can represent any location, actual or imagined, without respect to context or scale, as seen in brain mapping, DNA mapping, or computer routing protocol mapping, despite the fact that they are most frequently employed to describe geography.

The space that is being mapped can be two dimensional, like the earth's surface, three dimensional, like the earth's interior, or further abstract environments of any dimension, like those that emerge when modeling phenomena with lots of independent variables.

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1 Jonah is employed as a joiner by a firm whose main business
activity is building houses. The firm also employs bricklayers,
plumbers, painters and other skilled tradesmen. Other factors
of production are used when building houses. The owner of
the firm, Jack, believes that specialisation of labour brings
many benefits to the business and its employees.
In his spare time, Jonah makes wooden toys which his sister
sells on her stall at the local market. He buys the wood and
other resources from a local supplier. The wooden toys have
been so successful that Jonah has decided to leave his job
as a joiner to set up his own toy-making business.
a
Identify two stages of business activity.
b Define 'opportunity cost'.
c Identify four factors of production.
d
Explain two ways Jonah could add
value to his toys.
[2]
[2]
[4]
[6]
e Do you agree with Jack that 'specialisation of labour
brings many benefits to the business and its employees'?
Justify your answer.
[6]

Answers

a) The business existence cycle is the progression of a commercial enterprise in phases over time and is most typically divided into 5 stages: launch, growth, shake-out, maturity, and decline.

b) Opportunity fee is the forgone advantage that would have been derived from an alternative no longer chosen. To proper evaluate chance costs, the charges and advantages of each choice available should be viewed and weighed in opposition to the others.

c) In economics, factors of manufacturing are the resources humans use to produce goods and services; they are the constructing blocks of the economy. Economists divide the factors of manufacturing into 4 categories: land, labor, capital, and entrepreneurship.

e) Yes, I am agree. the owner of ther firm, jack believes that specialisation of labour brings many benefit to the commercial enterprise and its workers. in his spaee time johan makes timber toys which his sister sells at her stall at the nearby market.

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