What is Seth Godin’s overall message to companies?
Answers
Answer:
Don't put all your money into marketing. Focus on those people who are passionate about your product and figure out what people want and focus on them.
(coursehero.com)
Related Questions
The U.S. dollar is a currency made of low-cost materials. It is valuable only
because it is recognized by the U.S. government, which is a powerful global
authority. This means that the U.S. dollar serves as which type of money?
O A. Fiat money
O B. Commodity money
C. Representative money
O D. Currency money
Answers
Answer:
A. Fiat money.
Explanation:
Fiat money is government-issued currency that is not backed by a physical commodity, such as gold or silver, but rather by the government that issued it. The value of fiat money is derived from the relationship between supply and demand and the stability of the issuing government, rather than the worth of a commodity backing it as is the case for commodity money. Most modern paper currencies are fiat currencies, including the U.S. dollar, the euro, and other major global currencies.
The U.S. dollar is an example of fiat money, which is money that is not backed by a physical commodity (like gold or silver) but instead has value because the government declares it to be legal tender and accepts it as payment for debts. The correct option is A.
Which currency is not fiat money?The term "fiat money" does not apply to gold. Government-issued money known as "fiat money" is not backed by any real assets like silver or gold.
Fiat money is a type of currency that has no intrinsic value and is not backed by a physical commodity such as gold or silver. The value of fiat money is derived from the faith and trust that people have in the government that issues it. In the case of the U.S. dollar, it is valuable because the U.S. government declares it to be legal tender, which means that it can be used to settle debts and taxes.
People and businesses are required to accept U.S. dollars as payment because the government backs it up. While fiat money can be subject to inflation and other economic factors, it remains the most common form of money in modern economies.
Thus, the ideal selection is option A.
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Scale efficiencies are the cost advantages that enterprises obtain as fixed costs are spread out over more units of output. But some companies sacrifice scale efficiencies for responsiveness to local conditions. In these companies, country managers understand local laws, customs, and tastes and can decide how to meet them and increase sales. This global strategy is called
Answers
Answer: multi-domestic strategy
Explanation:
A multi-domestic strategy refers to a strategy whereby a company responds to the local market by making and customizing their product in order to match the different national conditions.
The strategy enables the multinational's individual subsidiaries to be able to compete independently in the domestic markets. An example of a multidomestic company that uses the multidomestic strategy is Nestlé which utilizes its marketing approach for the markets where it operates as it tastes is based on the needs of the people in the country.
True or false: In a business setting, emails will always get read, even if they are hard to read. True false question. True False
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i think this is true im not sure
Drag the tiles to the correct boxes to complete the pairs.
Match the given situations to the different types of stress that it could cause.
fatigue
environmental stress
internal stress
Al and his colleague are stuck in an elevator for an hour.
Sally's neighborhood is becoming increasingly polluted
because of ongoing construction work.
Ron has to put in long hours of work as his exams are
scheduled next month.
Sonia's company is sending her on an assignment to
London; she has no friends and relatives there.
survival stress
Reset
Next
1000
Answers
The situations and the different types of stress that they can cause are:
Al and his colleague are stuck in an elevator for an hour. - internal stressSally's neighborhood is becoming increasingly polluted because of ongoing construction work. - environmental stressRon has to put in long hours of work as his exams are scheduled next month. - fatigue Sonia's company is sending her on an assignment to London; she has no friends and relatives there. - survival stress What are types of stress?There is internal stress which come as a result of us being in situations that we did not expect like being stuck in an elevator. There is fatigue that comes from working for long hours.
Environmental stress comes from us being exposed to stressors from events around us and survival stress relates to moving to a place we are not familiar with.
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Tyson is researching the benefits of solar energy. Which is the most credible source on his list? a blog about whether solar energy is more effective than other forms of energy a university’s website that provides information about a recent solar energy study a company’s website that sells solar energy panels to the general public a blog that provides information about ways solar panels can help people cut energy costs.
Answers
The most credible source on Tyson's list of his research into the benefits of solar energy is a university website that provides information on a recent study of solar energy.
When conducting a research, it is essential to research reliable sources, as there is a lot of information available on the internet that is often not complete or true.
A recent study of solar energy available on a university website is therefore the most trusted source on Tyson's list, as academic studies are based on scientific methods to substantiate a topic.
Therefore, through the scientific methodology there is the reliability of the study having been carried out through rigorous procedures, research and evidence to support what is being proposed by the theme.
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B: a university's website that provides information about a recent solar energy study
Tai works in an office at his place of employment; however, most of the day he is found at other computers working. In which career pathway would this be a typical workplace? Network Systems Programming and Software Development Information Support and Services Interactive Media.
Answers
The career pathway that would be a typical workplace for Tai is C. Information Support and Services.
What are Information Support and Services?Information Support and Services encompass the following career pathways:
Information technology deploymentImplementation of computer systems and softwareDatabase managementProvision of technical assistanceManaging information systems.Thus, Tai's career pathway leads him to Information Support and Services.
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Answer:
Information Support and Services and c
Explanation:
edge 2022
An increase in the number of firms building apartments in Dallas would cause
A.
a movement along the demand curve for apartments in Dallas.
B.
the demand curve for apartments in Dallas to shift to the left.
C.
the supply curve for apartments in Dallas to shift to the right.
D.
none of the above.
Answers
An increase in the number of firms building apartments in Dallas would cause the supply curve for apartments in Dallas to shift to the right, resulting in a larger quantity of apartments available in the market. This can potentially lead to a decrease in the price of apartments, benefiting consumers.
An increase in the number of firms building apartments in Dallas would cause the supply curve for apartments in Dallas to shift to the right. When new firms enter the market and start building apartments, the overall supply of apartments increases. This means that there are more apartments available for rent or purchase in Dallas.
As a result, the supply curve for apartments in Dallas would shift to the right. This shift indicates that at any given price level, there is now a greater quantity of apartments supplied.
The shift in the supply curve can be explained through the concept of market equilibrium. In a competitive market, the price and quantity of a good are determined by the interaction of supply and demand. When the supply of apartments increases, it leads to a decrease in the equilibrium price and an increase in the equilibrium quantity.
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Two customers purchased $500 of merchandise from the same store on account. The terms of both sales were 2/10, n/30. If the first customer paid in 8 days and the second customer paid in 12 days, what would be the difference in the merchandise company’s records on the date the customers paid in full? A. The Sales Revenue entry for the first customer would be $500, and the Sales Revenue entry for the second customer would be $490. B. The Sales Discount entry for the first customer would be $0, and the Sales Discount entry for the second customer would be $10. C. The Accounts Receivable entry for the first customer would be $490, and the Accounts Receivable entry for the second customer would be $500. D. The Cash entry for the first customer would be $490, and the Cash entry for the second customer would be $500.
Answers
Given that two customers purchased $500 of merchandise from the same store on account. The terms of both sales were 2/10, and n/30.
If the first customer paid in 8 days and the second customer paid in 12 days. The correct option is BThe first customer pays the account after 8 days, so the customer is entitled to a 2% discount because of the sales discount term 2/10. So, the amount paid by the first customer is:$\(500 - (500 * 0.02) =500 - 10 = $490\).Hence, The Cash entry for the first customer would be $490.
The second customer pays the account after 12 days, so the customer is not entitled to a discount because he has exceeded the discount period of 10 days. The full amount of $500 would be paid by the customer. Hence, The Cash entry for the second customer would be $500.Thus, the difference in the merchandise company’s records on the date the customers paid in full is $10. The Sales Discount entry for the first customer would be $0, and the Sales Discount entry for the second customer would be $10.Therefore, the correct option is B. The Sales Discount cash entry for the first customer would be $0, and the Sales. Discount entry for the second customer would be $10.
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The difference in the merchandise company's records on the date the customers paid in full would be the option D.The two customers who bought $500 worth of merchandise from the same store on account have terms 2/10, n/30. The first customer paid in 8 days and the second customer paid in 12 days.
Therefore, the first customer takes a 2% discount, and the second customer did not take a discount because they paid within the 30-day period. Both customers paid the same amount of $490. Hence the difference between the two records will be in the cash entry because the first customer received a 2% discount.
Thus, the difference in the merchandise company's records on the date the customers paid in full would be the option D: The Cash entry for the first customer would be $490, and the Cash entry for the second customer would be $500.
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Create a perfume overview. The brand name is Kelly.
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Questions u could ask someone in an interview about fundraising ideas
Answers
what type of fundraising ideas would you recommend?
where/how would you approach people at a fundraiser?
have you ever experienced a fundraiser?
have you ever organized a fundraiser?
what ideas can you bring to the table?
Khalifa’s friend, Khalid, has told him that managing the finances of the business is very important.
Q1a. What are fixed costs?
Q1b. What are variable costs?
Q1c. What is revenue?
Q1d. Explain the difference between revenue and profit.
Answers
Answer:
Fixed costs are usually negotiated for a specified time period and do not change with production levels. ... Examples of fixed costs include rental lease payments, salaries, insurance, property taxes, interest expenses, depreciation, and potentially some utilities.Variable costs are dependent on production output. ... Examples of variable costs are sales commissions, direct labor costs, cost of raw materials used in production, and utility costs. The total variable cost is simply the quantity of output multiplied by the variable cost per unit of output.Fees earned from providing services and the amounts of merchandise sold. Examples of revenue accounts include: Sales, Service Revenues, Fees Earned, Interest Revenue, Interest Income. ... Revenue accounts are credited when services are performed/billed and therefore will usually have credit balances.Revenue is the total amount of income generated by the sale of goods or services related to the company's primary operations. ... Profit is the amount of income that remains after accounting for all expenses, debts, additional income streams, and operating costs.Explanation:
Using the following information, calculate the cost driver rate (OH allocation rate): # of units: 1,000 Overhead: $10,000 labor hours: 100 allocation base = # units number of cost pools =
Answers
The cost driver rate (OH allocation rate) is $10 per unit. In order to calculate the cost driver rate, we need to use the following formula:
Cost Driver Rate = Total Cost of Overhead / Total Cost Driver
Since the number of units is the allocation base, the cost driver rate can be calculated as follows:
Cost Driver Rate = Total Cost of Overhead / Total Number of Units
Cost Driver Rate = $10,000 / 1,000
Cost Driver Rate = $10 per unit
Therefore, the cost driver rate (OH allocation rate) is $10 per unit.
In a job order costing system, the allocation of overhead costs requires the identification of cost drivers that are related to the production of goods. The cost driver rate is used to allocate overhead costs to the products based on the usage of the cost driver. The cost driver is a variable that is assumed to cause a change in the cost of the production process. The cost driver rate is calculated by dividing the total cost of overhead by the total cost driver. The allocation base is used as the cost driver to allocate overhead costs to the products. In this case, the allocation base is the number of units produced. Therefore, the cost driver rate can be calculated as follows:
Cost Driver Rate = Total Cost of Overhead / Total Cost Driver
Since the number of units is the allocation base, the cost driver rate can be calculated as follows:
Cost Driver Rate = Total Cost of Overhead / Total Number of Units
Cost Driver Rate = $10,000 / 1,000Cost Driver Rate = $10 per unit
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What are the main advantages of traditional plant-wide (volume) based allocation methods compared to activitybased costing? (Multiple Choice) A. Traditional plant-wide (volume) based methods are easier to use and less costly to implement and maintain. B. Traditional plant-wide (volume) based methods are more accurate and allowed by GAAP. C. Traditional plant-wide (volume) based methods are less accurate and easier to use. D. Traditional plant-wide (volume) based methods are harder to use and more costly to implement and maintain. E. There are no advantages to using traditional plant-wide (volume) based methods.
Answers
A. Traditional plant-wide (volume) based methods are easier to use and less costly to implement and maintain.
B. Traditional plant-wide (volume) based methods are more accurate and allowed by GAAP.
Traditional plant-wide (volume) based allocation methods have advantages over activity-based costing. Firstly, they are easier to use and require less effort to implement and maintain. These methods allocate costs based on a single cost driver, such as volume or production quantity, making them simpler to apply. On the other hand, activity-based costing requires the identification and allocation of costs to numerous activities, which can be time-consuming and complex. Secondly, traditional plant-wide methods are more accurate and are generally accepted by GAAP (Generally Accepted Accounting Principles). They align with the simplicity and practicality that GAAP aims to achieve in cost allocation.
Traditional plant-wide (volume) based allocation methods have advantages over activity-based costing in terms of ease of use, implementation, maintenance, and accuracy.
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Traditional plant-wide (volume) based allocation methods offer simplicity, lower implementation and maintenance costs, and alignment with accounting principles.
The main advantages of traditional plant-wide (volume) based allocation methods compared to activity-based costing include:
1. Easier to use and less costly to implement and maintain: Traditional plant-wide methods are generally simpler and require less effort and resources to set up and manage. They rely on a single allocation base, such as direct labor hours or machine hours, which makes the calculations and allocation process more straightforward.
2. More aligned with Generally Accepted Accounting Principles (GAAP): Traditional plant-wide methods are widely accepted and allowed by GAAP, making them a preferred choice for companies that need to comply with accounting regulations. These methods have been used for many years and are considered a standard practice in various industries.
It is important to note that while traditional plant-wide methods may have these advantages, they also have limitations. For instance, they assume that all products consume overhead costs in the same proportion, which may not be accurate. This limitation is addressed by activity-based costing, which provides a more detailed and accurate allocation of costs based on the specific activities involved in producing each product or providing each service.
In summary, traditional plant-wide (volume) based allocation methods offer simplicity, lower implementation and maintenance costs, and alignment with accounting principles. However, activity-based costing provides a more accurate and detailed allocation of costs based on specific activities, making it a preferred choice in situations where more precision is needed.
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Format wars, in the context of high-technology industries, refer to: a. battles to control the source of differentiation, and thus the value that such differentiation can create for the customer. b. the confusion among customers that arises as a result of several choices of formats for PCs and other gadgets. c. the price-based battles in the network of complementary products, which is a primary determinant of the demand for an industry's product. d. conflicts within an organization about which format to adopt for their products. e. price-based battles among companies producing similar products.
Answers
Answer:
Battles to control the source of differentiation, and thus the value that such differentiation can create for the customer
Explanation:
Technical standards
This is simply refered to as a group of distinction or specifications that producers conforms or simply follows when making a particular product, or a component of it.
Format
This is simply known as set of rules through which technology operates. It is stated that all technology have constraints, that is standards and advantage(pro's)/disadvantage(con's).
Format wars
This are fights to have access or control the source of change (differentiation) and the value that such change can bring for the customer
Dominant design
This is simply known as common set of features or design characteristics of a product.
Technology in industries is changing or revolutionizing aspects of the product even in those not usually considered high- tech
please help me with this match the column if i get perfect answer then i will give brainliest
Answers
Answer:
what do you need help on
Explanation:
FCCLA's central focus is on the ________.
Answers
Answer:
variety of youth concerns
Answer:
To promote personal growth and leadership development through Family and Consumer Sciences education
Vector B has x, y, and z components of 2.2, 5.8, and 8.2 units, respectively. Calculate the magnitude of B. 005 (part 2 of 2) 10.0 points What is the angle between B and the x-axis? Answer in units of °
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Vector B has x, y, and z components of 2.2, 5.8, and 8.2 units, respectively. We have to calculate the magnitude of B and the angle between B and the x-axis.Magnitude of vector B (|B|) is given as:|B| = √(Bx² + By² + Bz²)where Bx, By, and Bz are the x, y, and z components of vector B.
Substitute the given values in the above equation,|B| = √(2.2² + 5.8² + 8.2²)= √(4.84 + 33.64 + 67.24)= √105.72= 10.28 (approx)Thus, the magnitude of vector B is 10.28 units.Now, to find the angle between vector B and the x-axis, let's consider a diagram where vector B is represented in the xyz-plane as shown below:Diagram:Here, the angle between vector B and the x-axis is given by θ, which is the angle between vector B and its projection on the xy-plane.Let's calculate the projection of vector B on the xy-plane.
The projection of B on the xy-plane is given as:|Bxy| = √(Bx² + By²)where Bx and By are the x and y components of vector B.Substitute the given values in the above equation,|Bxy| = √(2.2² + 5.8²)= √(4.84 + 33.64)= √38.48= 6.2 (approx)Thus, the projection of vector B on the xy-plane is 6.2 units.The angle between vector B and the x-axis is given as:θ = tan⁻¹(By/Bx)Substitute the given values in the above equation,θ = tan⁻¹(5.8/2.2)= 70.6° (approx)Thus, the angle between vector B and the x-axis is 70.6°.Therefore, the answer to the given problem is,|B| = 10.28 units and the angle between vector B and the x-axis is 70.6°.
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With the help of online research, write a short report on “glocalization.”
Answers
The phenomena of Glocalization, which is best described as Thinking Globally, Acting Locally, is created when the two terms of globalisation and localization are combined.
To put it more properly, we may say that although if a single brand is produced, sold, and distributed globally, it is nevertheless personalised and customised to suit the tastes and preferences of customers in the many global marketplaces.
It is carried out since each region of the world has its own unique culture, linguistic preferences, demands, and desires.
By adjusting their offerings and products to meet the needs of that specific market, businesses may effectively position and place their items, resulting in high revenues and devoted customers.
The following are all global brands, although they cater to the demands of their customers in various parts of the world while selling items.
Chips by Lays (They sell different flavours in different parts of the world, according to the taste preference and eating habits of that country).
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If+d+0+=+$1. 75,+g+(which+is+constant)+=+3. 6%,+and+p+0+=+$32. 00,+what+is+the+stock's+expected+total+return+for+the+coming+year?.
Answers
Answer:
$ 102 . 33
Explanation:
Monroe county levies a tax on the value of real property located within the county. The tax equals 3 percent of the property's assesse value up to $2 million plus 1 percent of the value in excess of $2 million. Required: a. Compute the tax on real property valued at $1.26 million. b. Compute the tax on real property valued at $4.30 million. Complete this question by entering your answers in the tabs below. Compute the tax on real property valued at \$1.26 million. Note: Enter your answers in dollars not in millions of dollars.
Answers
For real property valued at $1.26 million, the tax would be $37,800. This can be calculated by first computing the tax on the first $2 million, which would be $60,000 (2 million x 0.03).
The remaining tax for the remaining $260,000 can be calculated by multiplying the value in excess of $2 million with the tax rate of 1 percent, which gives $2,600 (260,000 x 0.01). Adding the two yields $37,800 (60,000 + 2,600). Therefore, the total tax for real property valued at $1.26 million would be $37,800. b. when computed according to this example, is based on two different tax brackets - 3 percent up to $2 million and 1 percent for the remaining value in excess of $2 million.
The tax on real property valued at $1.26 million is $37,800. This can be calculated by multiplying the property’s value by 3% up to the first $2 million, which is $60,000. After the first $2 million has been taxed, the remaining value of the property is $260,000 and this is multiplied by 1%, resulting in $2,600. The total tax is the sum of both calculations, which is $37,800.
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The Free enterprise system is:
A: Supply & Demand
B: Designed to protect consumers' best interests
C. Requires both sides of the story
D. Free of competition
Answers
Answer:
Free enterprise is the freedom of individuals and businesses to regulation. It enables individuals and businesses to create, produce, are able and willing, enterprising people produce goods and services for produce and sell goods and services. In this system, no one forces people they believe to be best for them.
Ivie Clarke has decided to launch a numbers game like Sudoku. She estimates her fixed costs to be £5,000. The variable costs are £1.20 per game. She intends to sell the games for £5.00 each. Ivie estimates she will sell 1,400 games a month. 7 (a) What is her total revenue if she sells 1,400 games? (1) (b) What are her total costs if she sells 1,400 games?(1) (c) How much profit does she make if she sells 1,400 games?(1) 8 How many games does she need to sell to cover her total costs?(1) 9 In fact the fixed costs of the business were actually £5,500. How much profit or loss would Ivie make if she sold 1,400 games. (2)
Answers
Her total revenue if she sells the 1,400 games of the numbers game is £7,000.
What is revenue?The average sales price is multiplied by the quantity of units sold to arrive at revenue, which represents the money generated by normal business operations. Net income must be deducted from the top line (or gross sales) figure in order to be calculated. In the salary summary, revenue and sales are synonymous. To determine how effectively a business collects unpaid debt, it is critical to review the cash flow summary. Cash accounting, in comparison, only records purchases as revenue when actual money changes hands. "Receipt" is the term used to describe money provided to a business. For receipts to show, income is not necessary. For instance, there will be a receipt but no income from a customer who pre-paid for a service or goods that were never delivered.
Ivie's total revenue if she sells the 1,400 games is:
Revenue = Price per game x Number of games sold
Revenue = £5.00 x 1,400
Revenue = £7,000
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Mary agreed to buy her mother’s house when her mother moves to a senior living community. They sign a purchase agreement, but when Mary has to move because of work, she signs her rights in the contract over to her sister, Tina. Mary may still owe money if Tina can’t come up with the agreed-upon funds. What’s happening in this scenario?
Answers
Answer:
What happened here is that Mary assigned her purchase contract to her sister, but if her sister is not able to perform the obligations completely, Mary will still be liable until the contract is completed.
Assignment of a contract refers to substituting one party for another, but the original party's obligations still exist until the contract is completely fulfilled.
Dodo company is disposing of equipment that was originally purchased for $700,000 and has $140,000 of accumulated depreciation to date. The same equipment would cost $950,000 to replace. What is the total amount of sunk cost in this decision?.
Answers
This decision has a total sunk cost of $560,000. So the choice an is right.
The cost that has already been incurred and cannot be recovered is called a "sunk cost." Additionally, irrelevant to decision-making are unnecessary costs.
Rent expense, lease expense, and other expenses like these are examples.
Sunk costs include the $700,000 expense incurred by Dodo Company for a fixed asset and the $140,000 accumulated depreciation on those assets. because they cannot be retrieved.
The present value of a fixed asset if we purchase it is its replacement cost. As a result, it is not a sunk cost.
Therefore, the equipment's book value equals $560,000, which corresponds to the sunk cost of $(700,000-140,000).
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The day they go on sale, Beth forgets her money to buy season tickets to the high school basketball games. Randall has extra cash in his wallet and pays for her ticket. How is P2P useful for Beth in this scenario?
Answers
The way that P2P would be beneficial to Beth in this scenario would be that she will be able to pay Randall for the tickets immediately.
What is a P2P payment?It is a technological innovation in the financial industry that allows for people to send money to others from their accounts or credit card using an app or website.
Beth can therefore use one such app to send money to Randall for paying for her ticket with cash.
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_____ and _____________ are critical, and needs to be built into the overall process of relationship
Answers
Answer: The options related to your question is missing hence i will provide you with a general answer on process of relationship
answer : wholehearted love and Decision are critical
Explanation:
The overall process of any kind of relationship passes through five specific stages and each relationship passes through these stages repeatedly . the stages are ; The merge stage , doubt stage , disillusionment , decision and love ( whole hearted )
Partnership made when direct investment in a foreign country occurs with a domestic partner are called a. Multinationals b. Mini-nationals c. Joint ventures d. Cooperatives
Answers
Answer:
c. Joint ventures
Explanation:
A foreign direct investment (FDI) can be defined as an investment made by an individual or business entity (investor) into an investment market (industry) located in another country. The investor here, shares a different country of origin from the country where his investment is located. In a foreign direct investment (FDI), an investor must establish his business, factory and operations in a foreign country or acquire assets in a business that is being operated in a foreign country.
Additionally, foreign direct investment (FDI) are categorized into three (3) main types and these are;
1. Vertical FDI: it involves establishing a different business that is however similar to the main business owned by the investor.
2. Horizontal FDI: it involves establishing the same type of business in a foreign country as owned in the investor's country.
3. Conglomerate FDI: it involves establishing a business that is completely different in another (foreign) country.
Partnership made when direct investment in a foreign country occurs with a domestic partner are called joint ventures. It is typically established or initiated by two or more people on mutual grounds to make profits and sharing costs.
roughly 5% of all taxes paid by business in the united states are to state, local
Answers
The statement 'Roughly 5% of all taxes paid by businesses in the United States are to state, local, and municipal jurisdictions' is false as it is underestimation.
While the exact percentage of taxes paid by businesses to state, local, and municipal jurisdictions may vary, it is generally higher than 5%. Businesses in the United States are subject to various taxes, such as property tax, sales tax, and income tax, which contribute to their overall tax burden.
The distribution of these taxes across federal, state, and local levels depends on the specific tax policies and regulations of each jurisdiction. In some cases, the combined state and local tax burden can be substantial, making the 5% figure an underestimation.
It is estimated that about 40% of all business taxes are paid to state, local, and municipal jurisdictions. Hence, the statement is false.
Note: The question is incomplete. The complete question probably is: Roughly 5% of all taxes paid by businesses in the United States are to state, local, and municipal jurisdictions. True or False.
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Which of the following is NOT one of the four main applications of data mining for marketers? A) customer retention B) customer acquisition C) customer abandonment D) competitive intelligence
E) market basket analysis
Answers
The" customer abandonment" is NOT one of the four main applications of data mining for marketers.
Option(c) is correct.
The four main applications of data mining for marketers are:
A) Customer retention - to identify factors that influence customer loyalty and reduce churn rate.
B) Customer acquisition - to identify potential customers and develop targeted marketing campaigns to acquire new customers.
D) Competitive intelligence - to analyze competitors' strategies, strengths, and weaknesses and identify potential opportunities for the company.
E) Market basket analysis - to understand the relationships between products and customer purchasing behavior and develop targeted marketing strategies.
Customer abandonment is not typically considered as one of the main applications of data mining for marketers. However, the analysis of customer behavior may indirectly help identify customers who may be at risk of leaving and can aid in customer retention efforts.
Therefore, option (c) is correct answer.
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PROBLEM 1–22 Cost Terminology; Contribution Format Income Statement LO1–2, LO1–4, LO1–6 Miller Company’s total sales are $120,000. The company’s direct labor cost is $15,000, which represents 30% of its total conversion cost and 40% of its total prime cost. Its total selling and administrative expense is $18,000 and its only variable selling and administrative expense is a sales commission of 5% of sales. The company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs. Required: 1. What is the total manufacturing overhead cost? 2. What is the total direct materials cost? 3. What is the total manufacturing cost? 4. What is the total variable selling and administrative cost? 5. What is the total variable cost? 6. What is the total fixed cost? 7. What is the total contribution margin?
Answers
Answer and Explanation:
a. The computation of the total manufacturing overhead cost is
= Conversion cost - direct labor cost
= ($15,000 ÷ 0.30) - $15,000
= $50,000 - $15,000
= $35,000
b. The compuattion of the direct material cost is
= Conversion cost - direct labor cost
= ($15,000 ÷ 0.40) - $15,000
= $37,500 - $15,000
= $22,500
c. The total manufacturing cost is
= direct material cost + direct labor cost + manufacturing overhead cost
= $22,500 + $15,000 + $35,000
= $72,500
d. The total variable selling and administrative cost is
= Sales × commission percentage
= $120,000 × 5%
= $6,000
e. The total variable cost is
= direct material cost + direct labor cost + variable selling and administrative cost
= $22,500 + $15,000 + $6,000
= $43,500
f. The fixed cost is
= Manufacturing overhead + fixed selling and admin expenses
= $35,000 + ($18,000 - $6,000)
= $47,000
g. The total contribution margin is
= Sales - variable expenses
= $120,000 - $43,500
= $76,500
We simply applied the above formulas