What kinds of techniques discussed in the chapter can help these managers to increase efficiency?
In what ways can these managers go about developing a program to increase quality?
What critical lessons can these managers learn from operations management?
Answers
The techniques discussed in the chapter that can help managers increase efficiency include process improvement, automation, and inventory management.
By implementing these techniques, managers can streamline their operations and reduce waste, ultimately leading to increased efficiency. To develop a program to increase quality, managers can use tools like Six Sigma and Total Quality Management.
These programs focus on continuous improvement and involve collecting and analyzing data to identify areas for improvement. Managers can also involve employees in the program to increase buy-in and engagement.
From operations management, managers can learn critical lessons about the importance of efficiency, quality, and continuous improvement. Operations management emphasizes the need to manage resources effectively to meet customer demands and increase profitability.
By focusing on these key principles, managers can optimize their operations and achieve their goals more effectively. Additionally, operations management highlights the importance of staying up-to-date with technology and industry trends, which can help managers remain competitive in their market.
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Related Questions
The collection of interactions a company has with a customer who has already purchased a product is
called
When dealing with customers face-to-face, a good customer service technique is
to
When speaking with customers over the phone, it is important to be aware of
can change the meaning of what is said.
Answers
If the customer appears to be frustrated the company service agent should try to understand the situation and should be familiar with situation.
What is a customer service technique?
A good service technique is a face-to-face interaction, first listen, summarize the problems, and repeat one should try to get a detailed insight into the problem and understand the client's frustration they should remember to tackle the situation carefully. They should have patience, empathy, and other qualities.
What are three important technique of customer service?
Essentially, the three "p"s of professionalism, patience, and a "people-first" mindset are the three key components of good customer service. Although each customer's experience with customer care is unique, as long as you're adhering to these rules, you're on the right route.
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Answer:
The collection of interactions a company has with a customer who has already purchased a product is
called
✔ customer service
.
When dealing with customers face-to-face, a good customer service technique is
to
✔ maintain eye contact
.
When speaking with customers over the phone, it is important to be aware of
✔ tone of voice
because it can change the meaning of what is said.
Actually got it right.
Have a good one!
Question 3 of 10
Why do many banks consider student loans risky investments?
A. Student loans have long grace periods.
B. Student loans bring in a low rate of interest.
C. Student loans are regulated by the government.
D. Student loans aren't secured by collateral.
SUBMIT
Answers
Student loans aren’t secured by collateral
How is days to collect accounts receivable determined? A) 365 days divided by accounts receivable turnover. B) Net sales divided by 365. C) Net sales divided by average net trade receivables. D) Accounts receivable turnover divided by 365 days.
Answers
Days to collect accounts receivable is determined by dividing the number of days in the accounting period by the accounts receivable turnover. Thus, option A) 365 days divided by accounts receivable turnover is the correct answer.
How is days to collect accounts receivable determined? Days to collect accounts receivable is calculated as follows: Days to collect accounts receivable = 365 days ÷ Accounts receivable turnover is the measure of how frequently accounts receivable are converted into cash.
It is calculated by dividing net credit sales by the average net accounts receivable during the accounting period. It is a ratio that measures the effectiveness of a company's credit and collection policies.
Days to collect accounts receivable is a measure of the average number of days it takes a company to collect its accounts receivable.
A lower number of days to collect accounts receivable is an indicator that the company is efficient in its collection procedures.
A high number of days to collect accounts receivable indicates a weak collection process, which may result in an increase in bad debt expense.
The days to collect accounts receivable is an important measure of a company's financial performance because it indicates how efficiently the company is managing its accounts receivable.
The faster a company collects its accounts receivable, the more cash it will have on hand to invest in its operations, pay its bills, or distribute to shareholders.
Therefore, it is essential for a company to manage its accounts receivable effectively, so it can have sufficient cash to meet its short-term obligations.
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Skippy loves peanut butter. Skippy reads on the internet that 75 percent of the peanut crop in the South has been wiped out by drought, and that this will cause the price of peanuts to more than double by the end of the year. As a result,
a. Skippy’s demand for peanut butter decreases as he considers buying almond butter.
b. Skippy’s demand for peanut butter will increase, but not until the end of the year.
c. Skippy’s demand for peanut butter shifts left today.
d. Skippy’s demand for peanut butter increases today.
Answers
Answer:
d. Skippy’s demand for peanut butter increases today.
Explanation:
The taste and preferences of the consumers are one of the factors affecting the demand for the goods. The demand for goods increases according to tastes and preferences. Another factor of an increase in demand is the expectation of a consumer regarding the future prices of the goods.
In the given scenario, Skippy's demand for the peanut butter will increase because of the above mentioned two reasons. Since he is very much fond of the peanut butter, the demand will remain constant. At the same time, after reading about the future unavailability of the peanut butter and the increase in the price of it, the demand for the peanut butter will rise the present day.
types of home first mortgages differ by the presence or absence of a due-on-sale clause. types of loans that almost always have due-on-sale clause include:
Answers
The existence or absence of a due-on-sale provision distinguishes different types of home-first mortgages. Conventional mortgage loans are among the loan kinds that virtually usually feature a due-on-sale condition.
Conventional simply indicates that there is no special government program associated with the loan. While more challenging to get, conventional loans are often less expensive than FHA loans. If you don't have much debt and have a good credit score, a conventional loan is a wonderful choice.
By paying 20% of the loan amount up in advance, you can eliminate PMI and minimize your monthly mortgage payments. Conventional loans are available with a down payment as low as 3% if you are unable to make a sizable upfront payment. higher standards for credit scores than those for government loan programs.
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In your own words, explain Supply and Demand. In Assignment 1: Scarcity and Choice you are given an example of the supply and demand of PlayStation 2. Think about your life and then provide one example of your own of Supply and Demand.
RESPOND IN 5 SENTENCES !
Answers
Supply and demand is the fundamental concept of economics that explains how prices are determined in a market economy. The law of supply and demand states that the price of a good or service is determined by the intersection of the quantity supplied and the quantity demanded. When the quantity supplied is greater than the quantity demanded, the price will decrease, and when the quantity supplied is less than the quantity demanded, the price will increase. In my own example, during the holiday season, the demand for certain gifts such as toys, electronics, and clothing increases, while the supply remains the same, therefore prices tend to increase, and you can find some goods out of stock. Another example can be during a pandemic where the demand for masks and hand sanitizers increases while the supply is limited, prices tend to increase.
The local Department of Motor Vehicles issues new licenses and renews licenses. All customers first see a receptionist. The receptionist directs them in one of three directions. 75 percent go directly to Issue License (staffed by 9 workers) where a new photo and license are done. 15 percent are required to take an eye test (staffed by one worker), and 10 percent must first take a multiple-choice electronic written test (on one of three computers). Only 85 percent of people pass the eye test and the remaining 15 percent exit. The customers who pass the eye test proceed on to the written test. 10 percent of the people who take the written test fail it, while 90 percent pass the test and then proceed to Issue License. The processing times of the stations are listed in the following table. Station Number of workers Processing time (minutes) Reception 1 0.4 Eye test 1 5 Written test 3 15 Issue License 9 6 Draw a process flow diagram (Note: Make sure to include capacity information of each activity in the diagram. Also, provide the percentage of flows on top of arrows). Find the bottleneck.
Answers
Now, to identify the bottleneck, we need to compare the processing times of each station. The bottleneck is the station with the longest processing time. In this case, the bottleneck is the Written test station, with a processing time of 15 minutes.
Therefore, the Written test station is the bottleneck in this process.
To draw the process flow diagram, we will start with the receptionist and then follow the different directions based on the percentages given.
1. Start with the receptionist:
- Capacity: 1 worker
- Processing time: 0.4 minutes
2. From the receptionist, 75% of the customers go directly to Issue License:
- Capacity: 9 workers
- Processing time: 6 minutes
- Percentage of flows: 75%
3. From the receptionist, 15% of the customers go to the Eye test:
- Capacity: 1 worker
- Processing time: 5 minutes
- Percentage of flows: 15%
4. From the Eye test, 85% of the customers pass and proceed to the Written test:
- Capacity: 3 computers
- Processing time: 15 minutes
- Percentage of flows: 85%
5. From the Written test, 90% of the customers pass and proceed to Issue License:
- Capacity: 9 workers
- Processing time: 6 minutes
- Percentage of flows: 90%
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How is the earnest money deposit usually applied at closing on a settlement statement?
A) Debit the seller
B) Debit the buyer
C) Credit the seller
D) Credit the buyer
Answers
The earnest money deposit is usually applied at closing on a settlement statement by debiting the buyer.
Earnest money deposit is a deposit made by a purchaser, often in real estate transactions, as a sign of good faith.
It is generally paid in the form of a cheque or a cash payment, which is held by an escrow or the buyer's broker until the closing of the transaction.
The earnest money deposit is usually applied at closing on a settlement statement by debiting the buyer.
The settlement statement itemizes all of the fees, charges, and credits involved in the sale of the property, and it is a crucial document for both the seller and the buyer.
On the settlement statement, the earnest money deposit is typically listed as a credit for the buyer, which lowers the amount of cash the buyer must bring to the closing.
The earnest money deposit is also subtracted from the purchase price of the property to determine the total amount owed by the buyer to the seller.
In most cases, the earnest money deposit is subtracted from the purchase price of the property when the transaction is complete, and it is credited to the buyer.
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Many things that society values, such as good health, high-quality education, enjoyable recreation opportunities, and desirable moral attributes of the population, are not measured as part of gdp. It follows that.
Answers
The ability of a country to purchase the inputs that can be used to generate the items that contribute to wellbeing makes GDP still a valuable indicator of the welfare of society.
The most often used indicator of an economy's size is its gross domestic product (GDP). GDP can be calculated for a nation, a region (such as Tuscany in Italy or Burgundy in France), or for a group of nations (such as the European Union) as a whole (EU)
Welfare, or more frequently social welfare, is a form of government aid aimed at ensuring that citizens can satisfy essential requirements like food and housing.
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Part II: Elastic or Inelastic?
Instructions: Determine whether the demand for the following items is price clastic or inelastic,
Write your answer on the line after the item. Then write the reasons for your answer.
A. Salt
Why?
B. New cars
Why?
C. Pork chops
Why?
D. European vacation
Why?
E. Insulin
Why?
F. Insulin at one of four drug
stores in a shopping mall
Why?
G. Gasoline purchased one day
after a 20 percent price increase
Why?
I
HL Gasoline purchased one year
after a 20 percent price increase
Why?
Answers
a. The demand for salt is price inelastic. This is because salt is considered a necessity in making meals.
b. The demand for new cars is price elastic. This is because there are many substitutes for new cars. For example, the bus is a substitute for a new car.
c. The demand for pork chops is price elastic. This is because there are many other types of foods that can be consumed instead of pork chops.
d. The demand for European vacation is price elastic. This is because vacations are not a necessity; they are a luxury.
e. The demand for Insulin is price inelastic. This is because insulin is very important to a diabetic patient
f. The demand for Insulin at one of four drug stores in a shopping mall is price inelastic. This is because consumers have choices between the four drug stores in the mall
g. The demand for gasoline purchased one day after a 20 percent price increase is price inelastic. This is because in the short run, consumers do not have enough time to search for suitable substitutes, so demand would be inelastic
h. The demand for gasoline purchased one year after a 20 percent price increase is price elastic. This is because in the long run, consumers would have enough time to find suitable substitutes.
Demand is price elastic if the quantity demanded of a good is sensitive to small changes in the price of the good
Demand is considered inelastic if the quantity demanded of a good is less sensitive to changes in the price of a good.
Factors that affect the price elasticity of demand
Time frame: demand is inelastic in the short run because consumers would not have enough time to find cheaper substitutes. In the long run, demand is elastic because consumers would have enough time to search for substitutes. Number of close substitutes : If there are many substitutes for a good, the demand for the good would be elastic. If there are no close substitutes, the demand for the good would be inelastic Nature of the good: if the good is considered a necessity, the demand for the good would be inelastic and if the good is considered a luxury, the demand for the good would be inelastic.To learn more about elasticity of demand, please check: https://brainly.com/question/14897348?referrer=searchResults
Barbara found a 1099-Int from her bank while spring cleaning. She knew right away that she did not give this to her accountant for her tax preparation. What can she expect from the IRS?
Answers
Answer:
In simple words, A 1099-INT tax return is proof that you were paid interest by someone – a bank or another company. A 1099-INT is sent if you received more than $10 in interests from a bank, stockbroker, or other commercial organization Your bank may have sent you this tax form because it paid your income on your funds.
why are bank charges or account keeping fees for the operation of the trust account paid from the general business account instead of being debited directly from the trust account.
Answers
Because the trust account is primarily used for retaining funds, the bank fees or account keeping costs for operating the trust account are paid from the regular business account as opposed to being debited directly from the trust account.
Belonging to other people and the trust accounts are managed by a trustee who has a legal obligation to safeguard the money in trust and ensure it is not mixed with any of the trustee's money.
Bank account keeping fees for the operation of the trust account are the costs incurred in running a trust account. These costs are typically charged by the financial institution to the account holder to cover the operational expenses incurred in the administration of the trust account. Some of these expenses may include transaction fees, maintenance costs, and account fees.
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vance was served liquor while he was an intoxicated patron of a united states air force bar. he later injured himself as a result of his intoxication. an alaska state statute makes it a crime to give or to sell liquor to intoxicated persons. vance has brought an action seeking damages for the injuries he suffered. could vance successfully argue that the united states air force was negligent per se by its employee's violation of the statute? under 50 words
Answers
Yes, Vance could successfully argue that the United States Air Force was negligent per se by its employee's violation of the Alaska state statute that makes it a crime to give or sell liquor to intoxicated persons.
Negligence per se occurs when a defendant violates a statute or regulation that is designed to protect a specific class of people from a specific type of harm, and that violation results in the type of harm the statute was intended to prevent. In this case, the statute was designed to protect intoxicated persons from being served alcohol, and Vance's injury was the type of harm the statute was intended to prevent.
Therefore, the violation of the statute would be considered a breach of duty, making the United States Air Force negligent per se. However, Vance would still need to prove causation and damages in order to recover compensation for his injuries.
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What does the phrase internalizing an external cost mean?.
Answers
Answer:
It means, "forcing producers to factor into their production costs the cost of the externalities created in the production of their output."
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When a firm is earning economic profit, this indicates the firm isa.increasing the value of the resources that it is using.b.reducing the value of the resources that it is using.c.supplying the market with a low quality product.d.creating less value for consumers than another firm that is currently earning losses
Answers
When a firm is earning economic profit, this indicates the firm is increasing the value of the resources that it is using. Thus option (a) is correct.
What is economic profit?Economic profit is a concept in economics that refers to the difference between the total revenue earned by a firm and the total cost of all inputs used in producing goods or services.
In other words, economic profit takes into account not only the explicit costs of production but also the opportunity cost of alternative uses of the resources.
An economic profit of a firm shows that it is increasing the value of the resources that it is using.
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deltra was willing to purchase a dozen cookies for $40 that deirdre was willing to sell for anything more than $22. if they agreed on a price of $26, how much total value was created in this exchange?
Answers
According to the information provided, this deal generated a total $18.
Revenue is an organization's overall profit through its primary activities, such as the sale of goods or services, the rental of real estate, regular payments, the interest on loans, etc. Before deducting any costs, like discounts and returns, revenue calculations are performed.
The following chart illustrates how the total value of the trade was calculated:
Deltra Surplus = Purchase Value − Agreed Price
Deltra Surplus = 40 - 26 = $14
Deirdre Surplus = Agreed Price − Willing to sell
Deirdre Surplus = 26 - 22 = $4
The total value produced is now = Deltra Surplus + Deirdre Surplus
total value produced = 14 + 4 = $18
In conclusion, this transaction generated a total value of $18.
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during the introduction stage sales are ______ and profit is ______.
Answers
Product Life cycle Management has several stages. The stages determined the growth and low downs of product. During the introduction stage, sales are growing slow(low) and profit is minimal.
Market Introduction stage is often called the introduction stage that has a low growth rate of sales as the product is said to be recently brought into limelight and consumers may not know much about it.Most times, firms do experience losses rather than profits during this stage. and so when product is new on the market and small or no profit is made due to high costs and low sales.
Conclusively, the stage gives a lot of opportunities such as low competition in the market.
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What are closing costs?
Fees added for the cleaning of a home
Fees for renovating/remodeling the home
Fees added when buying a house such as title transfer fees and lawyer fees
Fees paid by the local township
Answers
Answer:
C) Fees added when buying a house such as title transfer fees and lawyer fees
Explanation:
anyone got sc? mines babyjas04
Answers
Answer:
ok thx for random useless information
Explanation:
______ refers to a company-generated forecast of future spot exchange rates to determine the projected spot exchange rate.
Answers
what can i do if my total in cash account is not the same in credit and debit side?
Answers
Answer:
Consider which items are meant for debit and credit.
Explanation:
The principle of double entry States that for every debit entries, there must be a corresponding credit entries and vice versa. This principle follow suits when preparing ledger accounts and trial balance.
Trial balance is the arithmetrical accuracy of the ledger. Once double entry principle is adhered to, the trial balance must definitely balance.
Where there are differences, check that items which ought to be debited and credited are correctly done. Also check if correct amount is posted like avoiding transposition error.
Is the process of human resource manganment much wider than simply the design of personnel programme
Answers
Yes, it can be argued that the Human resources management process is much broader than just designing a personnel system.
Human resources management focuses on maintaining all executive and mortal coffers systems, while mortal coffers operation takes a more strategic approach, anticipating the requirements of the association and constantly covering and conforming all systems.
Human resource management ( HRM), also known as labor force operation, includes all conditioning of the company aimed at icing the effective use of workers to achieve individual, collaborative, and organizational pretensions. The association's HRM function focuses on the mortal side of the operation.
One of the main parallels between human resource operation is that both consider placing the right people in the right jobs as one of the overall pretensions of people operating in the plant.
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If you borrow $17,140 at an annual rate of interest of 5.7or 7 years, what is the annual payment (prior to maturity) on a fully amortized loan?
Answers
The annual payment on a fully amortized loan of $17,140 with an annual interest rate of 5.7% over a 7-year period is approximately $2,899.13. This payment amount is calculated using the formula for an amortizing loan.
To determine the annual payment, we can use the formula:
\(\[P = \frac{r \cdot PV}{1 - (1 + r)^{-n}}\]\)
Where:
- P represents the annual payment
- r is the interest rate per period (expressed as a decimal)
- PV is the present value or loan amount
- n is the total number of periods
In this case, the interest rate per period is 5.7% divided by 100, which is 0.057. The present value is $17,140, and the total number of periods is 7 years, which is equal to 7.
Plugging in these values into the formula, we get:
\(\[P = \frac{0.057 \cdot 17140}{1 - (1 + 0.057)^{-7}} \approx 2899.13\]\)
Therefore, the annual payment on a fully amortized loan would be approximately $2,899.13.
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It costs a publishing company $0. 55 to print one copy of a certain novel. This company paid $725,000 for the rights to the novel. If they can sell a copy of the novel for $6. 75, how many copies of the novel must they sell to break even, to the nearest hundred?.
Answers
116,900 copies of the novel must they sell to break even, to the nearest hundred.
What is cost?In manufacturing, research, retail, and accounting, an expense is the value of money that was used to produce a product or provide a service and is therefore no longer available. In business, the cost may be the purchase price, in which case the cost is the amount of money used for the purchase.
The two main types of costs in businesses are
fixed costvariable costFixed costs do not change depending on output, while variable costs. Fixed costs are sometimes called overheads.
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Select the correct answer.
The speed of a ship is given by , where d is the distance the ship travels in 3 hours. If the ship travels 48 miles in 3 hours, what is the speed of the ship?
A.
12 miles per hour
B.
16 miles per hour
C.
45 miles per hour
D.
51 miles per hour
Answers
The speed of the ship is B. 16 miles per hour
How to calculate the speedRecall that
Speed= Distance/Time
Given that the distance= 48 miles
Time= 3 hours
The speed would be 48/3= 16 miles per hour
Therefore, option B is correct.
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Meet Megan: Lives in a suburb of San Jose, CA and is trying to decide between San Jose State University and Santa Clara University Both are close to home, but she wants to live on campus instead of with her mother and stepfather She came across the Consumer Financial Protection Board’s school comparison tool and decides to input her numbers Qualifies for in outside scholarships won through an essay contest Has saved $1500 she can contribute toward tuition; her parents cannot afford to help Got $3000 in Perkins loans, $3000 in Federal Subsidized loans, and $2500 in Federal Unsubsidized loans Is going to take any of the remaining balance in private loans at an interest rate of 7. 9% How much debt will she have at graduation for San Jose State University? What will her monthly loan payment be?
Answers
Megan's monthly loan payment, we need additional information about the repayment term and interest rate for her private loans. Once these details are provided, we can calculate her monthly payments based on the loan amount and interest rate.
Megan, a resident of a San Jose suburb, is considering attending either San Jose State University or Santa Clara University. As she prefers living on campus rather than with her parents, Megan decides to utilize the Consumer Financial Protection Board's school comparison tool to evaluate her options. She qualifies for outside scholarships won through an essay contest and has $1,500 in savings to contribute towards tuition. Her parents are unable to provide financial assistance. Megan secures $3,000 in Perkins loans, $3,000 in Federal Subsidized loans, and $2,500 in Federal Unsubsidized loans. To cover the remaining balance, she plans to take out private loans with an interest rate of 7.9%.
At graduation from San Jose State University, Megan's total debt is estimated to be the sum of her loans, which amounts to $10,000 in Perkins loans, $3,000 in Federal Subsidized loans, $2,500 in Federal Unsubsidized loans, and the private loans she takes out. The debt from private loans will depend on the amount Megan borrows.
To determine Megan's monthly loan payment, we need additional information about the repayment term and interest rate for her private loans. Once these details are provided, we can calculate her monthly payments based on the loan amount and interest rate.
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According to the reading, the main body of a business plan does NOT normally include which of the following:
Answers
According to the reading, the main body of a business plan does not normally include a full roster with names, of all planned hires for at least six months.
A business plan refers to a written document that helps in describing the activities of a business, its objectives, and how it intends to achieve its goals.,It should be noted that a good business plan should include the executive summary, the products and services that the company offers, their analysis, and the marketing strategies. A business plan is required in order to attract investors. It's also useful so that the company can have an effective strategy in place that will be used for the company's growth.Read related link on:
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Answer:
D-A full roster, with names, of all planned hires for at least six months.
Explanation:
took the quiz
Sometimes a business will pay for research when there is only one alternative course of action. This is called?.
Answers
When there is only one alternative course of action, and a business is obliged to take it, they may pay for research. This research is known as the 'post hoc ergo propter hoc' fallacy, which assumes that something happened as a result of something else simply because it happened after it.
Many businesses fall prey to this fallacy, believing that they are responding to a crisis when they are merely responding to a coincidence that has nothing to do with the situation.The 'post hoc ergo propter hoc' fallacy may arise for a variety of causes, such as bias, misunderstanding of correlation versus causation, and other factors. As a result, businesses must understand how to spot the fallacy and react accordingly. Because the investigation may be conducted with a set bias that presumes a cause-and-effect relationship that may not exist, caution is advised when interpreting the results.
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cuanto dura un partido de futbol salA?
Answers
La duración del juego es de 90 minutos, con cambio de extremos y un intervalo no mayor de 15 minutos después de los 45 minutos. El árbitro puede tener en cuenta el tiempo perdido en cada mitad. Una vez finalizado el partido, el equipo que marca más goles (el número de veces que el balón entra en la portería) es declarado ganador.
Espero que esto te ayude ❤️Answer:
Un partido de fútbol sala dura 40 minutos dividido en dos tiempos de 20 minutos cada uno.
Explanation:
Which provision of the purchase and sale agreement describes the circumstances under which the closing agent must withhold or not withhold taxes to pay to the Internal Revenue Service?
Answers
Answer:
seller Citizenship and FIRTPA
Explanation:
The provision that ultimately decides this would be the seller Citizenship and FIRTPA. This is because a percentage of every sale is taxed and must go to the Internal Revenue Service, but a closing agent is only responsible for withholding taxes from investors that do not have Citizenship in the US. This is because they are not in the system and do not have any responsibilities towards the US government.