The material plan for item C in Week 6 does not require any additional orders, as the available inventory of 1200 units is sufficient to cover the gross requirement of 500 units.
The preparation for the material plan for item C are:
1. Determine the gross requirements for item C by considering the Master Schedule for Product A.
2. Calculate the net requirements for item C.
3. Check the lead time and scheduled receipts for item C.
4. Plan the orders for item C based on the quantity policy.
1. Determine the gross requirements for item C.
The Master Schedule for Product A calls for a start quantity of 250 units in Week 6. The Bill of Material (BOM) shows that Product A requires 2 units of C for each unit of A, so the gross requirement for C is 250 * 2 = 500 units in Week 6.
2. Calculate the net requirements for item C.
The beginning inventory for item C is 200 units, and there's a scheduled receipt of 1000 units in Week 1. So, the available inventory in Week 6 is 1200 units (200 + 1000). The net requirement for item C in Week 6 is 500 - 1200 = -700 units, which means there's no need to order more item C as the available inventory covers the gross requirement.
3. Check the lead time and scheduled receipts for item C.
The lead time for item C is 1 week. Since there's no need to order more item C, we can skip this step.
4. Plan the orders for item C based on the quantity policy.
The quantity policy for item C is Fixed Q = 1000. However, since there's no need to order more item C, no orders are planned for item C.
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Click this link to view O*NET's Work Context section for Marriage and Family Therapists. Note that common contexts
are listed toward the top, and less common contexts are listed toward the bottom. According to O'NET, what are some
common work contexts for Marriage and Family Therapists? Select four options.
o exposed to hazardous conditions
spend time bending or twisting
o contact with others
indoors, enpironmentally controlled
face-to-face discussions
telephon
Answer:
c,d,e,f
Explanation:
Answer:
C,D,F
Explanation:
______ consists of a set of techniques and principles for systematically collecting, recording, analyzing, and interpreting data that can aid decision makers involved in marketing goods, services, or ideas. Multiple choice question. Strategic planning Marketing research Marketing strategy Marketing management
Answer:
Market research......
________ involves creating a video, e-mail, mobile message, advertisement, or other marketing event that is so infectious that customers will seek it out or pass it along to their friends
The means that involves creating a video, email, mobile message, advertisement, or another marketing event that is so infectious that customers will seek it out or pass it along to their friends is Viral Marketing.
What do you mean by marketing?Marketing refers to the activities undertaken by a company for promoting the buying or selling of a product.
Viral marketing refers to spreading information about any product or service from person to person by word of mouth or sharing via the internet or email.
Viral marketing will increase a company's reach and customer base.
Therefore, viral marketing is the correct choice.
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On December 2, Coley Corporation acquired 2,500 shares of its $2 par value common stock for $33 each.
On December 20, Coley Corporation resold 900 shares for $35 each. Which of the following is correct regarding the effect of the reselling of shares on the balance sheet?
Multiple Choice
a. Liabilities decrease
b. Expenses increase
c. Assets decrease
d. Stockholders' Equity increases
The reselling of shares has no impact on the assets, liabilities, and expenses of the company. It increases the stockholders' equity by $1,800.
On December 2, Coley Corporation purchased 2,500 shares of its $2 par value common stock for $33 per share. Later, on December 20, the corporation resold 900 of these shares for $35 each. The correct option regarding the effect of this share resale on the balance sheet is as follows:
a. Assets = No effect
b. Liabilities = No effect
c. Expenses = No effect
d. Stockholders' Equity increases
The reselling of shares by Coley Corporation will have the following impact on the balance sheet:
Assets: There is no change in the total value of assets as a result of the share resale.
Liabilities: The liabilities of the company remain unaffected by the share resale.
Expenses: The expenses of the company do not change due to the share resale.
Stockholders' Equity: The stockholders' equity increases as a result of the share resale.
To calculate the increase in stockholders' equity, we need to determine the gain from the sale of 900 shares. The total revenue generated from selling these shares is calculated as:
900 shares * $35 per share = $31,500
The gain on the sale of 900 shares is determined by subtracting the cost of these shares from the revenue:
900 shares * ($35 - $33) = $1,800
Therefore, the stockholders' equity increases by $1,800.
Since the number of shares has decreased by 900, the remaining shares with Coley Corporation amount to:
2,500 - 900 = 1,600 shares
The market value of the remaining shares is:
1,600 shares * $33 per share = $52,800
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Ed was working on a custom-made workbench for a customer. The job, TB0414, was begun in November. At the end of November, the job cost sheet for TB0414 showed direct materials of $215, direct labor of 14 hours at $18 per hour, and overhead of 50% of direct labor cost. During December, Ed’s time ticket showed 15 hours on Job TB0414, 25 hours on Job TB0614, 10 hours of maintenance on the lathe, and 40 hours on a new job, DR1014. What is the total amount of overhead applied to TBO414?
Answer:
Allocated MOH= $261
Explanation:
Giving the following information:
Predetermined overhead rate= 50% of direct labor cost
To allocate overhead to Job TB0414, we need to use the following formula:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
First, we need to determine the total labor cost:
TB0414:
Direct labor hours= 14 + 15 = 29
Total direct labor cost= 29*18= $522
Now, the allocated overhead:
Allocated MOH= 522*0.5
Allocated MOH= $261
economists measure economic growth primarily using: group of answer choices the unemployment rate the growth rate of nominal gdp per capita the growth rate of real gdp per capita nominal gdp real gdp
Economists measure economic growth primarily using the growth rate of real GDP per capita. This is because real GDP per capita is a measure of the value of goods and services produced in an economy adjusted for inflation and divided by the population, which gives us a good indication of how well the economy is performing and how much income each person in the country is earning on average.
While nominal GDP is also used to measure economic growth, it does not take into account inflation and therefore can be misleading. The unemployment rate is also an important measure of economic performance, but it focuses on the labor market rather than overall economic growth. So, in short, real GDP per capita is the most commonly used measure of economic growth among economists.
Economists measure economic growth primarily using the growth rate of real GDP per capita. Real GDP refers to the total value of goods and services produced in an economy, adjusted for inflation, while per capita takes into account the population size. This metric provides a more accurate representation of economic growth as it considers both output and living standards.
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When property rights are well defined and markets are: competitive market equilibrium violates the conditions for economic efficiency.market equilibrium is consistent with economic efficiency.conditions necessary for economic efficiency no longer apply.quantity supplied will rarely equal the quantity demanded.
Complete Question:
When property rights are well defined and markets are competitive, the
Group of answer choices:
a. market equilibrium violates the conditions for economic efficiency.
b. market equilibrium is consistent with economic efficiency.
c. conditions necessary for economic efficiency no longer apply.
d. quantity supplied will rarely equal the quantity demanded.
Answer:
b. market equilibrium is consistent with economic efficiency.
Explanation:
A property right is the exclusive or sole authority which determines the legal ownership of resources and how these resources are to be used, whether by individuals or government.
Also, a competitive market is a type of market that comprises of numerous producers who compete with each other so as to satisfy or meet the material needs and wants of consumers at a specific period of time.
Hence, when property rights are well defined and markets are competitive, the market equilibrium is consistent with economic efficiency.
This ultimately implies that, when the ownership of resources are well defined and markets are competitive, all benefits from trade between the consumers and producers of goods and services has been maximized, and each units creating more benefit to the consumers than cost have been produced in the economy.
Complete the concept map to describe the process by which breakdown products of foodstuffs are absorbed in the small intestine.
The process through which amino acids are absorbed in the primary active transport usually starts with the intestinal epithelial cells.
The process through which food is broken down in the small intestineThen fructose would have to be absorbed through diffusion into the same cells.
Glucose and galactose on the other hand are moved through active transport with sodium to the epithelial cells.
Large polymers are absorbed if the food was digested first through thde amino acids. With fatty acids being absorbed through diffusion to the cells.
The fatty acids would then be combined with glycerides in order to form micelles.
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Fatty acids and glycerides must combine with bile salts to form micelles
Boxwood Company sells blankets for $60 each. The following information was taken from the inventory records during May. The company had no beginning inventory on May 1. Boxwood uses a perpetual inventory system. DateBlanketsUnitsCost May 3 Purchase 5 $20 10 Sale 3 17 Purchase10$24 20 Sale 6 23 Sale 3 30 Purchase10$30 Determine the gross profit for the sale of May 23 using the FIFO inventory costing method.
To determine the gross profit for the sale of May 23 using the FIFO inventory costing method, we need to first calculate the cost of goods sold (COGS) and then deduct it from the revenue to get the gross profit.
Using the FIFO method, we assume that the first units purchased are the first ones sold. Therefore, the cost of the blankets sold on May 23 would be the cost of the first 3 units purchased on May 3 ($20 each) and the next 3 units purchased on May 10 ($24 each).
Cost of goods sold = (3 x $20) + (3 x $24) = $132
Revenue from the sale = 3 x $60 = $180
Gross profit = Revenue - COGS = $180 - $132 = $48
Therefore, the gross profit for the sale of May 23 using the FIFO inventory costing method is $48.
It's worth noting that if the company used a different inventory costing method such as LIFO (last in, first out) or weighted average, the COGS and gross profit would be different. However, since the problem specifies the use of FIFO, we only need to consider this method.
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In which career is it most important to exercise and take physical care of yourself?
A) therapist
B) child care provider
C) Interviewer
D) management
Answer: therapist
Explanation: i just took a test over this <3
When the demand for a good or service limits the quantity that can be sold to an output at which the firm experiences economies of scale,.
When the demand for a good or service limits the amount that can be sold to an output at which the firm experiences economizing of scale, the firm is a natural monopoly.
What is the distinction between genuine monopoly and monopoly?
A natural monopoly is a firm with such extreme economies of scale that once it starts creating a certain level of output, it can produce more at a far lower cost than any smaller competitor. Natural monopolies exist far more continually than pure monopolies, mainly because the conditions are not as stringent.
Which statement is the best description of a natural monopoly?A natural monopoly is a monopoly that occurs because a single firm can supply a good or assistance to an entire market at a smaller cost than could two or more companies.
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Please help me with this.
The type of business entity evident in the given information is a joint venture.
Two advantages of a joint venture like Jamalco are:
Shared resources Risk sharingHow are nationalized and private companies different ?A nationalized corporation refers to a company that was originally in the private sector but has been taken over or acquired by the government. In this case, the government takes control of the company's ownership, management, and operations.
A private limited company, also known as a private corporation, is a type of business entity where the ownership is held by private individuals or entities. It is a separate legal entity distinct from its owners, and the liability of shareholders is typically limited to their investment in the company.
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why will the wages for apple pickers increase?
Answer:An increase in the demand for apples increases the demand for the labor force also increasing the prices for the apples. This results in an increase in wage for apple pickers due to work increment.
Explanation:pls braliant my answer
Purchase-Related Transactions
The Wheatland Company purchased merchandise on account from a supplier for $30,000, terms 1/10, n/30. The Wheatland Company returned $8,000 of the merchandise and received full credit.
a. What is the amount of cash required for the payment within the discount period?
$
fill in the blank 1
b. Under a perpetual inventory system, what account is credited by The Wheatland Company to record the return?
Therefore, the amount of cash required for the payment within the discount period is $21,780 ($22,000 - $220).
a. To calculate the amount of cash required for the payment within the discount period, we need to subtract the discount from the total amount due:
Amount due = $30,000 - $8,000 = $22,000
Discount amount = 1% of $22,000 = $220
Therefore, the amount of cash required for the payment within the discount period is $21,780 ($22,000 - $220).
b. Under a perpetual inventory system, The Wheatland Company would credit the Accounts Payable account to record the return. This is because the return reduces the amount owed to the supplier for the original purchase. If the company had already paid the supplier, it would instead credit the Purchase Returns and Allowances account to record the return.
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The following table shows the salary of 7 people in an office last year.
Name Income Andy £9500 Bevan £25000 Cheryl £13250 Deva £72000 Elliott £12750 Frankie £29500 Grace £11000 a) Work out the mean income to 2 DP.
b) Deva was given a large bonus for 30 years service.
Excluding Deva's income, what was the mean income for the remaining 6 workers to 2 DP?
Answer:
£16,833.33
Explanation:
The computation of mean income is shown below:-
Mean income = Total sum of salaries ÷ Number of workers
= £9,500 + £25,000 + £13,250 + £72,000 + £12,750 + £29,500 + £11,000
= £173,000 ÷ 7
= £24,714.29
Now, the Mean income excluding Deva's salary:
Mean income = Mean income
= Total sum of salaries excluding Deva salary ÷ Number of workers
= (£9,500 + £25,000 + £13,250 + £12,750 + £29,500 + £11,000) ÷ 6
= £101,000 ÷ 6
= £16,833.33
We simply applied the above formulas
The product is shown without a decimal point. Where should the decimal point be placed?
3.12 × 4 = 1248
5th grade work
Answer:
Answer:B Place the decimal point after 2
Explanation:
All you have to do is multiply 3.12 times 4
1) State with reasons, the method you would adopt to price materials into production.
i.)in a period of rapidly increasing prices of the material,
ii). in a period of rapidly reducing prices of the material.
The method you would adopt to price materials into production:
i) In a period of rapidly increasing prices of the material is price penetration
ii). in a period of rapidly reducing prices of the material is price skimming
What is pricing methods?Pricing Methods are the ways in which the price of goods and services are determined. It is computed from all factors such as the resources and materials used for production.
In a period of rapidly increasing prices of the material you maintain a low price because of competitive market and then raise the price later. It called penetration price
In a period of rapidly reducing prices of the material use price skimming where you maintain your high price of selling and lower it as the market evolves.
Therefore, different pricing strategy works for different period and market season.
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Restrictive vs. Nonrestrictive
Directions: Underline the adjective clauses in the following 15 sentences and highlight (or circle) the nouns they refer to. Determine if the clause contains essential information or additional information. If the information is additional, set the clause off with commas.
1. Only people who speak French should apply for the job.
2. Jaqueline who speaks French applied for the job.
3. Max and Fred who did not come to class yesterday explained their absence to the instructor.
4. The students who did not come to class yesterday explained their absence to the instructor.
5. The geologist who lectured at Markstein Hall last night predicted another earthquake.
6. Dr. Fields who lectured at Markstein Hall last night predicted another earthquake.
7. The rice which we had for dinner last night was very good.
8. Rice which is grown in many countries is a staple food throughout much of the world.
9. I have good memories of my hometown which is situated in the mountains.
10. I live in a town which is situated in the mountains.
11. The Mississippi River which flows south from Minnesota to the Gulf of Mexico is the major commercial river in the United States.
12. A river which is polluted is not safe for swimming.
13. The guy whom I spoke to was wearing a baseball cap.
14. The guy who must have been in his forties really scared me.
15. We enjoyed Mexico City where we spent our vacation.
1. Only people who speak French should apply for the job. (Essential)
2. Jaqueline, who speaks French, applied for the job. (Nonrestrictive)
3. Max and Fred, who did not come to class yesterday, explained their absence to the instructor. (Nonrestrictive)
4. The students who did not come to class yesterday explained their absence to the instructor. (Essential)
5. The geologist who lectured at Markstein Hall last night predicted another earthquake. (Essential)
6. Dr. Fields, who lectured at Markstein Hall last night, predicted another earthquake. (Nonrestrictive)
7. The rice, which we had for dinner last night, was very good. (Nonrestrictive)
8. Rice, which is grown in many countries, is a staple food throughout much of the world. (Nonrestrictive)
9. I have good memories of my hometown, which is situated in the mountains. (Nonrestrictive)
10. I live in a town which is situated in the mountains. (Essential)
11. The Mississippi River, which flows south from Minnesota to the Gulf of Mexico, is the major commercial river in the United States. (Nonrestrictive)
12. A river which is polluted is not safe for swimming. (Essential)
13. The guy whom I spoke to was wearing a baseball cap. (Essential)
14. The guy who must have been in his forties really scared me. (Nonrestrictive)
15. We enjoyed Mexico City, where we spent our vacation. (Nonrestrictive)
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Fundamentals of Planning A mission statement expresses an organization's reason for being. A vision statement expresses what an organization wishes to become. These mission and vision statements then drive strategic planning, tactical planning, and operational planning. This activity is important because proper planning is essential for providing an organization with the direction and momentum it needs to reach its goals and develop a sustainable competitive advantage. points Skipped eBook The goal of this exercise is to help you to recognize what mission and vision statements, and the three levels of planning, look like in action, and to see how they relate to one another in an organization. References Dalton Skot is the CEO and president of a midsize fishing lure production company. The company has been very successful since its founding five years ago. Dalton has stated that his company makes professional-quality products that are accessible to the recreational angler. A recent article in a popular business magazine quoted him as saying, "The company wants to provide a chance for every person to reach his or her highest fishing potential without sacrificing their retirement savings to do it." The company has worked to keep control of the business in the family. The vice president of operations, Cooper Skot, is Dalton's brother, and the new product development manager is his sister, Sloan Skot. Dalton and Cooper have big plans to grow the company by 50 percent over the next five years. Sloan says her department plans to introduce 10 revolutionary new lures to the company's already exciting lineup of products over the next two years. Some of her special project managers have the designs complete now and are working to streamline the production tools to maximize efficiencies and thus bring costs down.
The matchup are:
Mission Statement: His company makes professional-quality products that are accessible to the recreational angler. The company wants to provide a chance for every person to reach his or her highest fishing potential without sacrificing their retirement savings to do it.
Vision Statement: To grow the company by 50% over the next five years.
Strategic Planning: To achieve the goal of growing the company by 50% over the next five years.
Tactical Planning: Her department plans to introduce 10 revolutionary new lures to the company's already exciting lineup of products over the next two years.
Operational Planning: Project managers have the designs complete now and are working to streamline the production tools to maximize efficiencies and thus bring costs down.
What is the mission statement?In this text, the importance of mission and vision statements, as well as the three levels of planning, is discussed in the context of a fishing lure production company led by CEO and president Dalton Skot. The company's mission is to provide professional-quality products accessible to recreational anglers without sacrificing their retirement savings.
Therefore, The vision is to help every person reach their highest fishing potential. The company has been successful in keeping control of the business within the family, with Dalton's brother Cooper serving as the vice president of operations and his sister Sloan serving as the new product development manager.
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See text below
Fundamentals of Planning A mission statement expresses an organization's reason for being. A vision statement expresses what an organization wishes to become. These mission and vision statements then drive strategic planning, tactical planning, and operational planning. This activity is important because proper planning is essential for providing an organization with the direction and momentum it needs to reach its goals and develop a sustainable competitive advantage. points Skipped eBook The goal of this exercise is to help you to recognize what mission and vision statements, and the three levels of planning, look like in action, and to see how they relate to one another in an organization. References Dalton Skot is the CEO and president of a midsize fishing lure production company. The company has been very successful since its founding five years ago. Dalton has stated that his company makes professional-quality products that are accessible to the recreational angler. A recent article in a popular business magazine quoted him as saying, "The company wants to provide a chance for every person to reach his or her highest fishing potential without sacrificing their retirement savings to do it.". It looks like the company has done some serious planning to support its "tall tale" of success. Match each term with the correct statement or level of management planning. Tactical Planning N Vision Statement Mission Statement Operational Planning Strategic Planning paints Skipped Match each of the options above to the items below. eBook References His company makes professional-quality products that are accessible to the recreational angler. The company wants to provide a chance for every person to reach his or her highest fishing potential without sacrificing their retirement savings to do it. To grow the company by 50% over the next five years Her department plans to introduce 10 revolutionary new lures to the company's already exciting lineup of products over the next two years. Project managers have the designs complete now and are working to streamline the production tools to maximize efficiencies and thus bring costs down. Match each of the options above to the items below. His company makes professional-quality products that are accessible to the recreational angler. The company wants to provide a chance for every person to reach his or her highest fishing potential without sacrificing their retirement savings to do it. To grow the company by 50% over the next five years Her department plans to introduce 10 revolutionary new lures to the company's already exciting lineup of products over the next two years. Project managers have the designs complete now and are working to streamline the production tools to maximize efficiencies and thus bring costs down.
Identify the problem by analyzing the given scenario. An IT software company is losing market share because it fails to launch new products in a timely manner. Decisions are centralized at the top, and employees have little or no voice. One way to solve this problem is to use teams to eliminate ____ in the company.
Explanation:
to eliminate their best efforts in the company
Answer:
"bureaucratic barriers"
Explanation:
i got it right on plato
Danielle Corporation received $2,000,000 from investors and issued them shares of its stock. Danielle's journal entry to record this transaction would include a:
Danielle's journal entry to record this transaction would include a:credit to common stock.
What is Journal entry?Journal entry is simply the book of original entry.
Assuming the company received the amount of $2,000,000 from investors and issued them shares of its stock the appropriate journal entry to record this transaction would include a credit to common stock,
Journal entryDebit Cash $2,000,000
Credit Common stock $2,000,000
Inconclusion Danielle's journal entry to record this transaction would include a:credit to common stock.
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negotiators who perceive a negotiation process to be fair tend to _____.
negotiators who perceive a negotiation process to be fair tend to be more cooperative and willing to reach mutually beneficial agreements.
When negotiators perceive a negotiation process to be fair, they are more likely to trust the other party and believe that their interests and concerns are being considered. This perception of fairness enhances cooperation and fosters a positive attitude towards reaching mutually beneficial outcomes. Fairness promotes open communication, problem-solving, and a willingness to make concessions, leading to a higher likelihood of reaching agreements that satisfy both parties. On the other hand, when negotiators perceive a negotiation process to be unfair, they may become more competitive, defensive, and less willing to cooperate, which can hinder the negotiation process and make it more challenging to reach satisfactory outcomes.
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the stockholders who invested in the virginia company were motivated primarily by: question 12 options: 1) personal loyalty to james i. 2) religion. 3) a spirit of adventure. 4) curiosity about the new world. 5) financial profit.
Financial gain was the main driving force behind the stockholders' investment in the Virginia corporation.
What served as the primary impetus behind the Virginia Company?In addition to founding an English colony in the New World, the Virginia Company also aimed to boost shareholder earnings. The task of settling the region between the 34th and 41st northern parallels was handed to Sir Thomas Smith, the Company's treasurer.
Why were investments made in the Virginia Company?The Virginia Company of London, one of several privately-owned companies, instead of the English government, founded England's first successful colony in America. The Virginia Company's investors wanted to benefit from the riches of the New World.
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which research source needs to be carefully vetted to determine the expertise of the writer?
The research source that needs to be carefully vetted to determine the writer's expertise is "online blogs."
This is because online blogs can be created and written by anybody.
Using the findings or posts from blogs as a research source can be detrimental because it might be written based on opinions or someone else that has no adequate knowledge of the subject matter.
Therefore, to confirm the reliability of the post or materials on blogs, one needs to vet the writer's expertise carefully to know if the writer has adequate knowledge or authority about the topic.
Hence, in this case, the correct answer is "online blogs."
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Sioux Corporation is estimating the following sales for the first four months of next year:January$210,000February$280,000March$340,000April$370,000-Sales are normally collected 60% in the month of sale and 40% in the month following the sale. Based on this information, how much cash should Sioux expect to collect during the month of April
Answer:
$358,000
Explanation:
Calculation to determine how much cash should Sioux expect to collect during the month of April
April sales collected in April ($370,000 × 60%) $222,000
March sales collected in April ($340,000 × 40%) $136,000
Total cash collections in April $358,000
($222,000+$136,000)
Therefore the amount of cash that Sioux should expect to collect during the month of April is $358,000
Joe was getting ready for his first performance evaluation at his new company. He had made a list of all the things that he felt he needed to improve upon as was the custom at his previous organization. He was surprised when he walked into his evaluation meeting to find his supervisor ready to discuss how he can develop himself for promotional opportunities. What element of the importance of human communication in business and professional contexts does this example illustrate
Explanation:
This example illustrates that the communication process can often be impacted by past experiences. In this case it is clear that Joe was preparing for his first performance appraisal as he did in his previous organization, but he was surprised because in the new company the performance appraisal process was focused on development for new promotional opportunities, not development staff as was previously done.
Therefore, communication is a process impacted by experiences, it is in the organizational environment it is a dynamic process that varies according to the objectives, structure and organizational culture.
combine like terms to simplify 13q2 + 4q2
Answer:
17q^2
Explanation:
you add the like terms and 13+4 is equal to 17
What type of accounting is more rules-based?
GAAP
Explanation:
That would be the Generally Accepted Accounting Principles (GAAP) system which is rules based.
Alternatively:
The International Financial Reporting Standards. (IFRS) on the otherhand would be the one thats principles based.
How does a decrease in the price of good X affect the market rate of substitution between goods X and Y? A. It increases.
B. It decreases.
C. It remains unchanged.
D. Indeterminable without more information.
The correct answer to the question is A. It increases.
This is because the market rate of substitution is the rate at which a consumer is willing to substitute one good for another while still being indifferent.
If the price of good X decreases, the consumer is likely to purchase more of good X relative to good Y, which increases the rate of substitution between the two goods.
In economics, the rate of substitution is defined as the number of units of good Y that a consumer is willing to give up for one more unit of good X while still remaining indifferent.
This rate is influenced by various factors such as the prices of the two goods, the consumer's income, and their preferences.
A decrease in the price of good X, other things being equal, leads to a decrease in the rate at which consumers are willing to substitute good Y for good X.
This means that consumers will be more likely to purchase good X and less likely to purchase good Y, increasing the market rate of substitution between the two goods.
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HELPPPP PLEASE I WILL GIVE YOU BRAINLIST
Suppose you are going to buy a car. How do larger economic factors influence the pursuit of this goal.
A financial goal that I have is to have a well-paying job as I get out of high school so I can afford to go to a University of my choice. This way I won't be in crippling debt and have to take out massive student loans. However, inflation as well as taxes will influence this. Income taxes will force me to have to give up some of my hard-earned money, which will significantly reduce the amount of money I actually make.
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Thanks!