where would you go to add a non-common pay type for an employee? to add non-common types, you must call payroll support to make edits the additional pay types expandable section within the deduction
Answers
In order to add a non-common pay type for an employee, you would need to call payroll support to make edits to the additional pay types expandable section within the deduction.
This process cannot be done directly by the user. Non-common pay types could include things like bonuses, commissions, or any other form of compensation that falls outside the standard pay structure. These types of pay can be added to an employee's record in order to reflect the total amount of compensation they are receiving.To make these changes, the user would need to contact payroll support and provide them with the necessary information.
This could include the employee's name, their position within the company, and the details of the non-common pay type they are receiving. Once the changes have been made, the user can review the employee's record to ensure that the information has been correctly updated. Overall, adding non-common pay types to an employee's record is a straightforward process that can be easily accomplished with the help of payroll support.
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Related Questions
1. Who is Barney’s employer?
2. How long is the pay period that Barney just worked?
3. How many hours did Barney work during this pay period?
4. Did Barney work any overtime during this pay period?
5. What is Barney’s gross income for this pay period?
6. How many payroll deductions came out of Barney’s check?
7. What was the total amount of Barney’s deductions this period?
8. What is Barney’s net income (take-home pay) for this period?
Answers
Barney's employer is Tony Tacos. Barney worked for 198 hours during this pay period. Yes, Barney worked overtime during this period. The gross income of Barney during this pay period is $294.00. There are four payroll deductions in Barney's check. The total amount of Barney's deductions during this period is $62.29. Barney's net income for this period is $231.71.
Sales minus cost of goods sold, marketing, administrative, and other operating costs, depreciation, interest and other expenses equals net income (NI). It is a useful number for investors to determine how much an organization's revenue exceeds its expenses.
This figure appears on a company's income statement and is an indicator of profitability. Wages, dividends, capital gains, business income, retirement distributions, and other income are all included in your gross income.
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The amount of money you need to maintain in your account to avoid a fee is the?
Answers
Answer:
minimum balance
Explanation:
Maturity Dates of Notes Payable
Determine the maturity date and compute the interest for each of the following notes payable with add-on interest:
Use 360 days for calculations and round to the nearest dollar.
Date of note Principal Interest Rate (%) Term
a. August 5 $18,000 8% 90 days
b. May 10 11,400 7% 120 days
c. October 20 15,000 9% 45 days
d. July 6 7,500 10% 60 days
e. September 15 16,500 8% 60 days
For the maturity date, select the appropriate month using the drop-down menu and enter the correct day next to the month using the fill-in the blank answer box.
Maturity Date Interest
a. AnswerJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember Answer $Answer
b. AnswerJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember Answer Answer
c. AnswerJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember Answer Answer
d. AnswerJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember Answer Answer
e. AnswerJanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember Answer
Answers
To determine the maturity date and compute the interest for each note payable with add-on interest, we need to consider the principal amount, interest rate, and term of the note. The calculations should be based on a 360-day year and rounded to the nearest dollar.
a. The note dated August 5 with a principal of $18,000, an interest rate of 8%, and a term of 90 days will mature on November 3. To calculate the interest, we multiply the principal by the interest rate and divide it by 360 days, resulting in $400.
b. The note dated May 10 with a principal of $11,400, an interest rate of 7%, and a term of 120 days will mature on September 7. The interest can be calculated by multiplying the principal by the interest rate and dividing it by 360 days, yielding $266.
c. The note dated October 20 with a principal of $15,000, an interest rate of 9%, and a term of 45 days will mature on November 4. The interest is computed by multiplying the principal by the interest rate and dividing it by 360 days, resulting in $187.
d. The note dated July 6 with a principal of $7,500, an interest rate of 10%, and a term of 60 days will mature on September 4. The interest is calculated by multiplying the principal by the interest rate and dividing it by 360 days, amounting to $125.
e. The note dated September 15 with a principal of $16,500, an interest rate of 8%, and a term of 60 days will mature on November 14. The interest is determined by multiplying the principal by the interest rate and dividing it by 360 days, equaling $366.
In conclusion, by considering the principal, interest rate, and term of each note payable, we can determine the maturity date and compute the interest using the add-on interest method based on a 360-day year.
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a. Maturity Date: November 3, Interest: $120
b. Maturity Date: September 7, Interest: $198
c. Maturity Date: December 4, Interest: $101
d. Maturity Date: September 4, Interest: $125
e. Maturity Date: November 14, Interest: $220
To determine the maturity date, we need to add the specified number of days to the given date of the note. For example, for note (a), the date of note is August 5 and the term is 90 days. Adding 90 days to August 5, we get November 3 as the maturity date.
The interest is calculated by multiplying the principal amount by the interest rate and the term (in years) divided by 360. For note (a), the interest is computed as $18,000 * 8% * 90/360 = $120. Similarly, the maturity dates and interest are calculated for each note payable based on the given information and the formula for add-on interest.
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adam smith opposed government taxation and spending. true or false?
Answers
False. Adam Smith, an 18th-century philosopher and economist, did not oppose all government taxation and spending.
Economists are professionals who study how societies allocate resources to meet their needs and wants. They analyze economic data, create economic models, and make predictions about future economic trends. Their work is critical in informing policymakers, businesses, and individuals on how to make sound economic decisions.
Economists can specialize in various fields such as macroeconomics, microeconomics, international economics, public policy, and financial economics. They work in a variety of settings including government agencies, universities, research institutions, and private businesses.
Economists have a significant impact on our daily lives as their research informs decisions related to market taxation, healthcare, education, infrastructure, and many other areas. They play a vital role in shaping public policy, promoting economic growth, and creating a more prosperous society.
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Charitable donations, entertainment expenses, and
financial goals are all examples of...
things to consider when creating a budget.
things that are considered needs.
activities that contribute to overspending.
activities that are necessary for a healthy lifestyle.
Answers
Answer: Things to consider when creating a budget.
Explanation: Trust me bro
Giving donations, entertainment costs, and financial goals are all examples of the things to consider when creating a budget. As donation and entertainment expenses can be the measures to control the budgeting.
How making budget is helpful?Budget keeps the person spending tightly accurate to the mark and like to help in saving of the money. It facilitates the person income and expenses equally and shows how much person can spend on the specific thing.
Budget cuts the extra expenses of the person and provide the measurement of spending.
Thus, option A is correct.
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Answer the next two questions based on the following
table.
INCOME (DOLLARS)
$10,000
20,000
40,000
80,000
TAX PAID (DOLLARS)
$1,000
2,000
4,000
8,000
3. This tax is
a. progressive.
b. proportional.
C. regressive.
d. none of the above.
Answers
Answer:
i think it is d i think if right hope i help a lot
Explanation:
what effect will a low economic growth have on the country
Answers
Answer:
it can lead to national poverty and economy crisis
In the supply-and-demand schedule shown above, at the equilibrium price, quantity supplied is _____ and quantity demanded is _____.
A. 50, 350
B. 450, 75
C. 200, 200
Answers
Answer:
C. 200, 200
Explanation:
Meili's employer distributes checks at the end of each quarter, representing an equitable portion of 5 percent of the company's pretax profits for the previous quarter. These are ________checks. Group of answer choices pay for knowledge gainsharing bonus pay for performance profit sharing
Answers
Answer:
profit sharing
Explanation:
profit-sharing plan can be regarded as retirement plan which is designed to let an employee to have a share in the profits of a firm. In this particular plan some percentage of the profit made by the company,firm can be received by the employee using the quarterly or annual earnings of the employee as the basis.
Assuming that demand is 10,000 units, what is the required input to meet demand for the process below? Assume that the scrap cost is $7 at process 1,$12 at process 2 , and $18 at process 3. The defective rates are 2%,4%, and 6%, respectively. b) Compute the total scrap cost for the given system and the system where the scrap rates are reversed. Which system would be preferred? If once of them results in more costs, why do you think this happened
Answers
The required input to meet the demand for the given process is 10,204 units.
What is the formula to calculate the required input to meet demand?To calculate the required input, we need to take into account the defective rates and the scrap costs at each process. The formula to calculate the required input is:
Required Input = Demand / (1 - Defective Rate)
For Process 1:
Defective Rate = 2% = 0.02
Scrap Cost = $7
Required Input for Process 1 = 10,000 / (1 - 0.02) = 10,204 units
For Process 2:
Defective Rate = 4% = 0.04
Scrap Cost = $12
Required Input for Process 2 = 10,204 / (1 - 0.04) = 10,633 units
For Process 3:
Defective Rate = 6% = 0.06
Scrap Cost = $18
Required Input for Process 3 = 10,633 / (1 - 0.06) = 11,300 units
Total Required Input = Required Input for Process 3 = 11,300 units
To compute the total scrap cost for the given system, we multiply the defective units at each process by the corresponding scrap cost and sum them up.
Total Scrap Cost = (Defective Units at Process 1 * Scrap Cost at Process 1) + (Defective Units at Process 2 * Scrap Cost at Process 2) + (Defective Units at Process 3 * Scrap Cost at Process 3)
For the given system:
Total Scrap Cost = (10,000 * 0.02 * $7) + (10,204 * 0.04 * $12) + (10,633 * 0.06 * $18) = $5,872.88
For the system with reversed scrap rates, we swap the defective rates and the scrap costs for each process.
Total Scrap Cost with Reversed Rates = (10,000 * 0.06 * $7) + (10,204 * 0.04 * $12) + (10,633 * 0.02 * $18) = $4,992.88
The system with reversed scrap rates would be preferred as it results in lower total scrap costs. This is because the higher scrap costs are assigned to the lower defective rates, reducing the overall cost of scrap in the system.
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What refers to a number constant that appears in code without explanation?
Answers
Magic number refers to a number constant that appears in code without explanation.
A magic number is a numeric constant in computer programming that appears in code without explanation or a clear reason for its specific value.
It is often used as a placeholder or hard-coded value in algorithms or programs and can make the code difficult to understand, maintain, and modify.
For example, a programmer might use the number "7" as a magic number in a code snippet to determine the size of an array, but the reader of the code would not understand the significance of "7" without additional context.
To improve the readability and maintainability of code, it is generally recommended to avoid using magic numbers and to instead assign the values to descriptive, meaningful constants or variables. This makes it easier for other programmers to understand the purpose of the code and to make changes if necessary.
For example, instead of using the magic number "7" to determine the size of an array, the programmer could create a constant named "ARRAY_SIZE" and assign it the value "7." This way, the reader of the code would immediately understand the purpose of the constant and its value.
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Footsteps Co. has a bond outstanding with a coupon rate of 5.1 percent and annual payments. The bond currently sells for $1,016.53, matures in 15 years, and has a par value of $1,000. What is the YTM of the bond?
Answers
The YTM (yield to maturity) of the bond is 4.84 percent. To calculate the YTM, we need to use the bond pricing formula, which is: P = (C / r) x [1 - 1 / (1 + r)^n] + (F / (1 + r)^n)
Where:
P = current market price of the bond
C = annual coupon payment
r = YTM (unknown)
n = number of years until maturity
F = par value of the bond
$1,016.53 = ($51 / r) x [1 - 1 / (1 + r)^15] + ($1,000 / (1 + r)^15)
Solving for r using a financial calculator or Excel, we get 4.84 percent as the YTM. Therefore, the bond is currently yielding 5.1 percent annually in coupon payments, but because it is selling at a premium, the YTM is lower at 4.84 percent.
To find the YTM, you can use the following bond pricing formula:
Bond price = (C × (1 - (1 + YTM)^(-n)) / YTM) + (FV / (1 + YTM)^n)
Where:
- Bond price is the current price of the bond ($1,016.53)
- C is the annual coupon payment (5.1% × $1,000 = $51)
- YTM is the yield to maturity (unknown)
- n is the number of years until maturity (15)
- FV is the face value or par value of the bond ($1,000)
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The public power company is an example of which market structure?
A. Perfect competition
B. Monopolistic competition
C. Oligopoly
D. Monopoly
Answers
Answer:
D. Monopoly
Explanation:
A monopoly is a market structure which is typically characterized by a single-seller who sells a unique product in the market by dominance. Thus, it is a market structure wherein the seller has no competitor because he is solely responsible for the sale of unique products without close substitutes. Any individual that deals with the sales of unique products in a monopolistic market is generally referred to as a monopolist.
Hence, the public power company is an example of a monopoly because they serve as the only power utility provider to the public.
Additionally, a public power company refers to a company that provides power (electricity) utility to the general public of a society.
help me pls
forms is needed in every business and helps the business for tracking the ___ in data entry.
A. Transaction
B. Order
C. Fees
Answers
Answer:
A. Transaction.
Explanation:
Forms are commonly used in businesses to track transactions, which refer to any exchange of goods, services, or money between two parties. By using forms to record transactional data, businesses can more easily track their financial records, monitor inventory levels, and analyze sales trends. Forms can also help to streamline the data entry process, reducing the likelihood of errors and increasing efficiency.
Sample advertisement: Lose body fat and feel healthier with our proven supplement, Edgozene! Losing weight is easy with Edgozene! Just take two pills before each meal. You'll feel more full and eat less. No other diet pill offers what our product does - and for a limited time, if you buy now you can get two bottles of Edgozene for just $29.95! Which of these statements from the advertisement are facts? Check all that apply. A) Losing weight is easy with Edgozene. B) You will lose weight and feel healthier if you take Edgozene. C) You will receive two bottles of Edgozene when you order. D) Edgozene costs $29.95. E) You won’t eat as much if you take Edgozene.
Answers
Answer:
C) You will receive two bottles of Edgozene when you order.
D) Edgozene costs $29.95.
Explanation:
We assume that 1 order costs $29.95 and delivers 2 bottles. (That is, we assume that you cannot order 1 bottle for $14.98.) Under that assumption, the cost is $29.95 (D) and the amount delivered is 2 bottles. (C)
There is no way to determine whether any other claims are facts, or not. As a rule, feelings experienced when eating are a function of a lot more than just a diet pill. That is, you may or may not eat less when/if you feel more full.
Answer:
c,d
Explanation:
what is a highly coordinated activity that delivers goods and/or services when they are needed? multiple choice just-in-time production quality management lean operation heijunka takt time
Answers
Just-in-time production is a highly coordinated activity that delivers goods or services when they are needed.
Just-in-time management is a philosophy, not a method. If the "customer" is the eventual consumer of the product or a process further along the production line, the term originally referred to the manufacturing of goods to precisely fulfill customer demand in time, quality, and quantity.
By minimising the time and resources needed for production operations, JIT increases productivity. More rapid product production is possible thanks to manufacturers.
This simplified strategy can save costs and boost productivity while things are going as usual, but it is vulnerable to changes in supply and demand. JIT production can make manufacturers unable to meet demand when global supply networks are interrupted for a variety of reasons, deepening an economic downturn.
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What type of loan uses real estate for security?
A point of sale
A line of credit
. A disclaimer (it’s not disclaimer)
A second mortgage
Answers
Answer:
A second mortgage loan uses real estate for security
each listed stock option contract gives the holder the right to buy or sell shares of stock. each listed stock option contract gives the holder the right to buy or sell shares of stock. 10 100 1000 1
Answers
The correct statement is:
Each listed stock option contract gives the holder the right to buy or sell 100 shares of stock.
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An investment strategy where a higher price is paid for a stock based upon expected returns is:__________
Answers
An investment strategy where a higher price is paid for a stock based upon expected returns is Growth Investing.
Investment is the act of distributing resources into something to generate profits or gain income.
Strategy is a well-known plan to achieve one or extra long-term or typical goals beneath conditions of uncertainty.
Return on investment or go back on fees is a ratio between internet earnings and funding. An excessive ROI means the funding's profits examine favorably to its price. As an overall performance measure, ROI is used to evaluate the efficiency of an investment or to examine the efficiencies of several exceptional investments.
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"Question 31When under pressure, whether due to time, cost, oravailability of information, managers often made ______decisions.A. maximizingB. minimizingC. rationalizingD. satisfice"
Answers
When under pressure, whether due to time, cost, or availability of information, managers often made satisfice decisions. Answer is option D.
In decision-making, satisfice is a heuristic, a rule of thumb, a mental shortcut, or a practical method that allows an individual to promptly select the option that is satisfactory or "good enough." Managers often make decisions that aren't ideal due to a lack of information, time, or resources, and they frequently resort to satisficing.
Decision-making is a crucial component of management. Managers make decisions on a daily basis that have far-reaching consequences for their organization's future. However, several factors, such as a lack of data, time constraints, or budget restrictions, may prevent managers from making the best decision.
Satisficing is a form of decision-making that results in selecting the first option that appears to be adequate to solve the problem or fulfill the requirement. Answer is option D.
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Size is limited under a Sole Proprietorship.
True
False
Answers
Answer:
True
Explanation:
because 1 person can't control a huge company or business
As a Finance Manager of MAHAR Berhad, you are required to evaluate the financial performance of the company. Below are the financial data of MAHAR Berhad for financial year ended 31st December 2017. MAHAR BERHAD BALANCE SHEET AS AT 31st DECEMBER 2021 (RM) Cash 260,000 Account payable 200,000 500,000 Marketable Securities 72,000 Accrued Expenses 20,000 Account receivable Inventories 40,000 Long Term Debt 200,000 Net Plant and Equipment 800,000 Common Stock 20,000 Retained Earnings 272,000 TOTAL ASSET 1,192,000 TOTAL CLAIMS 1,192,000 MAHAR BERHAD INCOME STATEMENT FOR THE YEAR ENDED 31st DECEMBER 2021 (RM) Sales 500,000 Less: Cost of Good Sold 350,000 Gross Profit 150,000 Less: Operating expenses 50,000 Earning Before Interest and Tax 100,000 Less: Interest expenses 10,000 90,000 Earning before Tax Less: taxes Net Income 36,000 54,000 INDUSTRY AVERAGE Current Ratio 10 days 1.0 times 1.5 times Average Collection Period Inventory turnover Quick Ratio 10 times 10% Debt Ratio 50% Net profit margin Return on equity Time interest earned 12 times 15% Based on the above information: a) Calculate the relevant financial ratios for MAHAR Berhad. b) Give your comment on the performance of the company based on the above result.
Answers
In order to evaluate the financial performance of MAHAR Berhad, the company's financial data for the year ended December 31, 2021, including the balance sheet and income statement, are provided. The task is to calculate the relevant financial ratios for MAHAR Berhad and provide a commentary on the company's performance based on the results.
Using the given financial data, several key financial ratios can be calculated. The current ratio is determined by dividing current assets (cash, marketable securities, accounts receivable, and inventories) by current liabilities (accounts payable and accrued expenses). The average collection period is obtained by dividing accounts receivable by daily sales. The inventory turnover ratio is derived by dividing cost of goods sold by average inventory. The quick ratio is calculated by dividing quick assets (cash, marketable securities, and accounts receivable) by current liabilities. The debt ratio is obtained by dividing total debt (long-term debt) by total assets. The net profit margin is calculated by dividing net income by sales. Finally, the return on equity ratio is determined by dividing net income by total equity, and the time interest earned ratio is derived by dividing earnings before interest and tax by interest expenses.
Based on these financial ratios, an evaluation of MAHAR Berhad's performance can be provided. The current ratio indicates the company's ability to cover short-term obligations, while the average collection period reflects the efficiency of accounts receivable collection. The inventory turnover ratio assesses how effectively the company manages its inventory. The quick ratio measures the company's ability to meet immediate financial obligations. The debt ratio indicates the level of leverage used by the company. The net profit margin assesses the company's profitability, while the return on equity ratio reflects the return generated on shareholders' equity. Lastly, the time interest earned ratio evaluates the company's ability to cover interest expenses.
By analyzing these financial ratios, a comprehensive evaluation of MAHAR Berhad's financial performance can be provided, taking into account its liquidity, efficiency, solvency, profitability, and interest coverage.
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Which of the following choices incur speculative risk?
a.stocks
b.fire insurance on a house
c.options
d.life insurance
e.high interest savings account
Answers
Answer: correct option is A.
Explanation: A speculative risk can be defined as risk that is taken willingly either it results in profit or loss and the stocks involve in probability of gain and loss making it a speculative risk.
Stocks incur speculative risk. Therefore option A is correct.
What are Stocks?A stock usually referred to as equity, is a type of investment that denotes ownership in a portion of the issuing company. Shares, also known as units of stock, entitle their owners to a share of the company's assets and income in proportion to the number of shares they possess.
Common stock and preferred stock are the two primary categories of stocks.
Owners of common stock are entitled to dividends and the right to vote at shareholder meetings.
Common stockholders often do not have voting rights, while preferred stockholders typically get dividend payments ahead of time and are given preference over common investors in the event of a firm bankruptcy and asset liquidation.
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Ayman has a credit card with a balance of $4750 CAD and an annual interest of 21.5% compounded
monthly. He plans on paying off the loan completely in two years using monthly payments. What is the
total amount of interest he will pay once the card is paid off?
#1 $128.03
#2 $1136.00
#3 $4878.03
#4 $5886.00
Answers
If an rr is _____, it indicates the exposure of interest is associated with half the risk of disease.
Answers
If an rr is 0.5, it indicates that the exposure of interest is associated with half the risk of disease. The term "rr" refers to the relative risk, which is a measure of the association between an exposure and a disease outcome.
To understand this better, let's consider an example. Let's say we are studying the relationship between smoking and lung cancer. If the relative risk (rr) of smoking is 0.5, it means that smokers have half the risk of developing lung cancer compared to non-smokers.
Here's a step-by-step explanation:
1. The relative risk (rr) is calculated by dividing the risk of disease in the exposed group by the risk of disease in the unexposed group.
2. An rr of 0.5 means that the risk of disease in the exposed group is half that of the unexposed group.
3. In the context of the question, when an rr is 0.5, it indicates that the exposure of interest (such as smoking) is associated with half the risk of disease (such as lung cancer) compared to those who are not exposed.
In summary, when an rr is 0.5, it suggests that the exposure of interest is associated with a lower risk of disease, specifically half the risk compared to those who are not exposed.
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Max is using a search engine to do research on trends in his industry when he comes across a website that isn’t necessarily related to his research–but is interesting and engaging. Without realizing it, Max spends over an hour browsing through the webpage’s numerous articles and links. When his boss asks him if his research report will be ready by the end of the day, Max isn’t sure how to respond. He’s hardly done any work–but it’s not like he was purposely avoiding work. He was using the search engine for the purpose of research, after all. It’s not his fault that the search results weren’t very relevant. Max is considering asking his boss for an extension on his deadline so that he can spend more time researching. What do you think? What should Max do?
Answers
In this situation, Max has to first give his boss some advance notice that he wont be able to complete the report before deadline, explain himself briefly as to why that is, then ask for more time to be able to complete the task.
What is a deadline?A deadline indicates that a task or project is anticipated to be finished by that date and time. There is a clear expectation of what must be provided and by when thanks to deadlines. Employees are able to take charge of their work in this way and include deadlines into their time management techniques.
It's critical to schedule deadlines in advance because your work may be delayed. Recognize that some resources might be delayed and that some people might not be available. You may prevent the disaster of missing a deadline by making plans in advance.
Deadlines are crucial in business for a variety of reasons. They establish standards and encourage productive behavior in the workplace.
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Which of the following is a disadvantage to Linux?
Olearning curve
O customizability
O cost
Ofreedom
Answers
Answer:
Learning curve
Explanation:
When using the High Rate method to pay down debt, which debt do you focus on first after you have made all of your minimum monthly payments? a The card with the lowest interest rate b The card with the highest interest rate c The card with the highest balance d The card with the lowest balance
Answers
When using the High-Rate method to pay down debt, you should focus on the debt with the highest interest rate first, after making all of your minimum monthly payments.
What is debt?Debt refers to amount of money that an individual, company, or government owes to another entity. It is a form of borrowing that involves receiving funds from a lender with the expectation of repaying it at a later date with interest. Debt can take many forms, such as loans, credit card balances, mortgages, and bonds. It is typically used to finance investments or expenditures that an entity cannot afford to pay for outright. While debt can be useful in providing financial flexibility and allowing for the realization of long-term goals, it can also be a burden if the borrower is unable to meet the repayment obligations, leading to financial difficulties and potential legal consequences.
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The amount of jelly sold decreases from 100 jars to 50 jars when the price of peanut butter increases from $2 to $3. Using the midpoint method, the cross-price elasticity between peanut butter and jelly is _____.
Answers
Answer: -1.7
Explanation:
Using a midpoint method. Find the rate of change for both quantity and price.
The rate of change in quantity is: ((Q2 - Q1)/(Q2+Q1)/2) X 100%
The rate of change in price is: ((P2-P1)/(P2+P1)/2)) X 100%
The answer is the rate of change in quantity divides by the rate of change in price.
3. Which of the following is consistent with the basic economic postulate that incentives
matter?
Consumers buy fewer cars when the price of cars rises.
a.
b. Farmers produce less corn when corn prices decline.
C. A politician votes for a subsidy when it is in the best interest of a special interest group
within his district even if it might harm other voters.
d. All of the above.
Answers
All of the given option are consistent with the basic economic postulate that incentives matter.So, option (d) is correct answer.
What is economic incentives?Economic incentives are financial perks offered to individuals to change their patterns of consumption and output in an economy. Most often, economic incentives are used to alter people's behavior such that desired results appear naturally.
Economics as a whole is based on the straightforward tenet that shifts in incentives have predictable effects on how people behave. Incentives are influenced by both monetary and non-monetary factors.
People will be less inclined to select something if it becomes more expensive. In turn, consumers will be more inclined to select an alternative as the benefits associated with it grow. This straightforward notion, often known as the basic postulate of economics, is an effective tool because it pertains to practically everything we do. Less people will select an option as it grows more expensive.
So, above postulate is satisfied by all options given to us.
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