Ratification is the process by which an agency connection is established. This requires identifying the purpose shown by actions or words. This assertion is true.
When one person (the principal) authorizes another (the agent) to act on his behalf while under the P's supervision, and the A agrees to do so, an agency relationship is established. The agency is frequently mentioned in connection with business-related issues of some kind. This connection was known as "master-servant" under common law.
Ratification occurs when the principal accepts the contract and gives it legal effect when it is made on the principal's behalf by someone who is not an agent.
One side's statement of permission is all that is necessary to create an agency relationship. Oral or written communication may be used to describe this. Written agency agreements include retainer agreements with lawyers. Agency relationships can also grow organically without a formal contract.
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Liang Company began operations in Year 1. During its first two years, the company completed a number of transactions involving sales on credit, accounts receivable collections, and bad debts. These transactions are summarized as follows.Year 1Sold $1,354,900 of merchandise (that had cost $982,100) on credit, terms n/30.Wrote off $20,300 of uncollectible accounts receivable.Received $670,200 cash in payment of accounts receivable.In adjusting the accounts on December 31, the company estimated that 1.50% of accounts receivable would be uncollectible.Year 2Sold $1,584,300 of merchandise (that had cost $1,326,000) on credit, terms n/30.Wrote off $30,300 of uncollectible accounts receivable.Received $1,203,400 cash in payment of accounts receivable.In adjusting the accounts on December 31, the company estimated that 1.50% of accounts receivable would be uncollectible.Required:Prepare journal entries to record Liang’s Year 1 and Year 2 summarized transactions and its year-end adjustments to record bad debts expense.
Account receivable ending balance (Year 1) = 1354900 - 20300 - 670200 = $664,400. Required provision for allowances = 664400 * 1.5% = $9966
Unadjusted year end balance in Allowances for doubtful accounts = Debit balance of $20,300 Hence: Bad debt expense = 9966 + 20300 = $30,266
An allowance is a sum of money given or allotted usually at everyday periods for a selected motive. in the context of kids, dad and mom may additionally provide an allowance (British English: pocket money) to their child for his or her miscellaneous non-public spending. inside the construction industry, an allowance may be an quantity allocated to a specific item of labor as part of an common settlement. The person imparting the allowance normally attempts to control how or when money is spent by using the recipient in order that it meets the targets of the person providing the money.
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by reviewing hiring information from the previous year, james is trying to predict how many additional employees he will need to hire for the holiday rush. which step in the process of human resource planning is jim engaged in? multiple choice question.
The process of human resource planning Jim engaged in is Forecasting.
Forecasting is a way that makes use of historic information as inputs to make informed estimates which might be predictive in determining the direction of destiny tendencies. corporations utilize forecasting to decide a way to allocate their budgets or plan for anticipated fees for an upcoming time frame. Forecasting is the procedure of creating predictions based on beyond and gift records.
Later these can be in comparison in opposition to what takes place. as an instance, a company would possibly estimate its revenue in the subsequent year, then compare it against the actual effects. Prediction is a comparable but extra-preferred term.
There are three fundamental kinds—qualitative techniques, time collection analysis and projection, and causal models.
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starting at a price of $30, of earth science were to increase the price by 6%, will the quantity demanded decrease by more than 6%, by less than 6%, or by exactly 6%? explain.
The product's price has been increased by 180% due to the elasticity of demand.
Elasticity of demand:An elastic demand is one in which the change in quantity sought as a result of a price change is substantial. An inelastic demand is one in which the change in quantity required as a result of a price change is modest. If the formula produces an absolute number larger than one, this indicates that demand is elastic.
Given,Starting with a price of $30, if earth science raises the price by 6%, will the quantity requested fall by more than 6%, less than 6%, or precisely 6%?
And we need to figure out how much the product costs.
According to the current condition, the amount demand will rise by
=> (30 x 0.06 = 1.8)
If the price elasticity of demand is 30 and the price grows by 5%, then there must be 180%.
which assert that an increase in price will increase overall income when demand is inelastic (less than 1) because the price rise more than covers the drop in quantity requested.
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The industry-low, industry-average, and industry-high branded operating benchmarks on p. 7 of each issue of the footwear industry report?
The cost benchmarking data on pp. 6-7 of each issue of the Footwear Industry Report for the industry-low, industry-average, and industry-high costs assist managers in determining whether their company's costs and/or operating profits for the benchmarked items are adequately competitive.
If this is not the case, the company's executives should address how to best address the high-cost or low-profit issue as soon as possible. They typically include information on emerging industry trends, general financial statistics (e.g., operating costs, revenue, and consumer spending), information on major companies, market share, and a summary of supply and demand chains. Typically, industry reports are very expensive. It assists them in forecasting demand and supply, as well as financial returns from the business.
It indicates the industry's competitiveness as well as the costs of entering and exiting the industry. It is critical when starting a small business. The main factors determining the strength of substitute competition are I the attractiveness of substitute prices; (ii) buyers' satisfaction with substitutes in terms of quality and other features; and (iii) the ease with which substitutes can be switched to.
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anything that an agent obtains by virtue of an agency relationship is theirs to keep. t or f
The following statement "Anything that an agent obtains by virtue of an agency relationship is theirs to keep" is false.
A person who represents a certain agency or organization is referred to as an agent. An agent works for an agency and aids in the public representation of the company.
Anything an agent could receive in connection with the agency, however, is not his to keep. In such cases, the individual has the right to deliver the item to the agency's owner, who will then decide whether or not the agent gets to keep it. As a result, the previous claim is untrue.
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monopolistically competitive firms are likely to have ______________ prices in the long run than will occur in a perfectly competitive industry producing similar goods.
Monopolistically competitive firms are likely to have higher prices in the long run than will occur in a perfectly competitive industry producing similar goods.
When a large number of businesses provide rival goods or services that are comparable but imperfect alternatives, monopolistic competition exists. A monopolistic competitive industry has minimal entry requirements, and decisions made by any one firm do not immediately affect those of its rivals. The price and marketing choices made by the rival companies serve as their points of differentiation. Between a monopoly and perfect competition, monopolistic competition exists, combines aspects of both, and comprises businesses with comparable but distinct product offerings.
Industries with monopolistic competition include those in restaurants, hair salons, household goods, and clothes. Numerous rival businesses compete to sell, advertise, and price goods like dish soap and hamburgers.
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What are the key factors to have a successful food and beverage service?
A strong restaurant identity, recruit and retain your staff, and create a supportive environment, familiarizing yourself with profit and loss statements.
Creating a profitable menu and learning how to market best-selling items are just a few of the key elements of successful restaurants.Creating a profitable menu and learning how to market best-selling items are just a few of the key elements of successful restaurants.The industry, which accounts for more than 4% of global GDP, is a major contributor to economic development around the world.On every continent, F&B service outlets are a part of daily life for billions of customers as a place for them to get food or just spend some quality time with their friends and family.Forecast consumer demand in the F&B industry,adopt Inventory management software,material requirements Planning,manufacturing on demand planning,supply chain master data management,sales and operations planning.
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When a country that imports a particular good imposes an import quota on that good,
A. consumer surplus increases and total surplus increases in the market for that good.
B. domestic sellers and domestic buyers become worse off.
C. the domestic quantity supplied decreases.
D. consumer surplus decreases and total surplus decreases in the market for that good.
When a country that imports a particular good imposes an import quota on that good consumer surplus decreases and total surplus decreases in the market for that good.
The consumer surplus is the term which is used to measure of consumer welfare and is defined as the excess of social valuation of the products and services over the price actually paid.
The consumer surplus while taking into consideration the demand and supply curves. It is measured by the area of triangle below the demand curve and above is the observed price.
The country that imports a particular good imposes an import quota on that good by the consumer surplus decreases and total surplus decreases in the market for that good.
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problems 1 and 2 above identified instances of ineffective operation of key controls in the revenue cycle.how would these identified control deficiencies affect the nature, timing, and extent of substantive procedures for the revenue cycle?
In the present instance, a single employee is involved in multiple transactions at once in revenue cycle.
It guarantees that a single individual can log entries in accounting reports, collect payments from customers, and keep track of accounts receivable. Here, there is a high risk of fraud involving the theft of cash from accounts receivable. Accounts receivable may be flagged as poor or suspect and cash collected by a client may be misappropriated. The auditor's proposed substantive procedures are affected by these flaws:
The risk estimate that the auditor made at the beginning of the audit should be reviewed.
The auditor should decide whether the materiality levels should be updated based on the risk assessment.
The auditor should check more transactions where a single person authorized the entire transaction track by expanding the sample size.
It is necessary to enhance the auditor's procedures for receiving balance confirmations from customers.
2.
In problem 1, weaker controls have a negative financial impact of $25,352. In problem 2, there were a total of 13,726 unapproved transactions. The materiality standard determined toward the beginning of the review helps with deciding whether there are material misquotes or not. If the total materiality standard is set at $ 50,000, none of these purchases are deemed significant. This is because of the way that none of the imperfections, independently or on the whole, meet the materiality edges.
Problem 1 is now above the materiality level, and problem 2 has passed the materiality level when paired with problem 1. However, once the materiality limit is set at $ 20,000, all of these flaws are considered to be material.
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the implementation phase involves taking all of the detailed design documents from the design phase and transforming them into the actual system. group of answer choices true false
The group of answer choices is False (development phase).
What is development phase?In the life cycle of a new firm, the development stage is the first stage. During the development stage, businesses concentrate on establishing themselves through initiatives like market research, product development, and the building of new manufacturing facilities. The development phase includes a wide range of tasks designed to fulfill the entire list of specifications given for a system, piece of software, or other type of solution.In order to create a functioning information system that satisfies all specified system criteria, the system design prototype created in the Design Phase must be transformed into a working information system during the Development Phase. This phase will end with the working system entering the test phase. The six stages of human development—social, emotional, intellectual, moral, psychological, physical and spiritual—have inspired our new Thrive philosophy.To learn more about development phase refer to:
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what two points regarding cash flow are important to remember when discounting cash flow streams over time?
It's crucial to keep in mind two aspects of cash flow: the timeliness of working capital quantities and the direction of the flow when expenses are made.
Describe discounted cash flow analysis (DCF).
The whole operating cash sequence must be discounted in order to arrive at the present value because future payments and receipts were value a little under actual USD currency in today's money.
Describe the procedure for compounding.
An initial present value is subject to an interest rate.
The initial sum is increased by the interest, and the new sum is then subjected to a further application of the interest rate.
Over the course of the holding period, the operation is continued for each revenue month. Through the use of An, a future sum of money is reduced during the delaying phase.
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__________ are a part of big data analytics that allow a company the opportunity to analyze location data from mobile phones of employees.
Location analytics are part of the big data analytics that allows company opportunity to analyze the location data from mobile phones of employees.
What is Location analytics?The process of adding a layer of geographic data to a company's data assets in order to gain more insightful information is known as location analytics. By providing a new perspective on trends and correlations in the data, this enables questions about various business processes to be asked in a wider context. Every employee in an organization can use spatial analytics and other analytics tools to interpret the data from a location-specific perspective, make predictions, and adjust business operations as necessary thanks to location analytics. The addition of location to an organization's analytics enables decision-making with more context and generates deeper insights that might not have been found with conventional, flat business intelligence (BI) data.
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To calculate the expected risk premium on a stock, one must subtract the ________ from the stock’s expected return.
To calculate the expected risk premium on a stock, one must subtract the risk-free rate from the stock’s expected return.
The interest that a potential investor could earn over a set length of time from a completely risk-free investment is known as the risk-free rate. You can calculate the so-called "real" risk-free rate by subtracting the current inflation rate from the yield on the Treasury bond that corresponds to the tenure of your investment.
A risk premium is the extra investment return that an asset is expected to produce over and above the risk-free rate of return. Investors anticipate receiving a return on their investment in order to make up for the risk they are taking. A risk premium is how this shows up.
Simply subtract the predicted return on a particular asset from the risk-free rate, which is the current interest rate paid on risk-free investments like government bonds and Treasury securities, and you have the risk premium formula.
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the irs does not require the taxpayer to use the same depreciation method on the tax return that is used in preparing financial statements. group of answer choices true false
False, the IRS require the taxpayer to use the same depreciation method on the tax return that is used in preparing financial statements.
What is taxpayer?A taxpayer refers to a person subject to pay a tax. Modern taxpayers can have an identification number, a reference number issued by a government to citizens. The term taxpayer usually defines the one who pays taxes. A taxpayer can be an individual, a business entity that is obligated to pay taxes to a federal, state. Taxes from individuals and businesses are a primary source of revenue for governments. Taxable Natural Person A taxable person is a person whose income is taxed. A taxable entity is a taxpayer who is taxed on the profits from the previous year's business activities. Individual taxpayers are compensated income earners, self-employed persons, sole proprietors and SAW/non-residents.To learn more about taxpayer from the given link :
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a preferred stock pays a dividend of $3/year. if the required return on the preferred stock is 7%, what should the share price be? express your answer in dollars and cents.
Given the conditions for this problem, the value of share price to the preferred stock is $42.85.
What does stock mean?
In finance, "stock" usually refers to shares of ownership in a company. When you buy stock in a company, you are purchasing a portion of the company, and you become a shareholder. Stockholders are entitled to a portion of the profits of the company, as well as voting rights in certain corporate decisions.
In this example, dividend per share is $3 and the required return is 7%. Applying the pricing formula, we find that the value per share of preferred stock is as follows:
Value per Share = Dividend per Share / Required Return on Preferred Stock
Value per Share = 3 / 7%
Value per Share = 42.85
Therfore the share price is $42.85.
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what is financial assistance from the government to encourage the production of or the purchase of a good ?
A payment made by the government that effectively decreases the cost of producing a specific commodity or service is known as a subsidy.
Such incentives encourage businesses to boost the production of commodities with advantageous externalities.
A government-provided subsidy can be either direct or indirect and can be granted to a person, organization, or business. They can support faltering sectors, support new initiatives, and advance a social cause or piece of legislation.
Subventions in cash, like the grants stated above. tax breaks like exemptions, credits, or postponements. risk-taking, such as through loan guarantees. Government procurement practices that offer prices above those found on the open market.
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Companies often use more than one capital budgeting method to determine which capital investment to make.
The capital budgeting method which use time value of money are generally considered inferior to the method that not.
This statement is wrong as those methods which use time value of money such as Net present value Discounted payback period, Profitability index etc. they use time value of money and they are superior since money if not invested in project then that money can be invested in other opportunities and that means that money will generate income which is ignored under those methods which ignore time value of money such as payback periods etc.
The term “income” typically refers to the quantity of money, assets, and other transfers of value obtained over a hard and fast time frame in alternate for products or services. there's no unmarried, wellknown definition: profits is defined consistent with the context wherein the idea is used.
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what is the financial advantage (disadvantage) of accepting the special order from the wedding party? direct materials $ 142 direct labor 90 manufacturing overhead 37 unit product cost $ 269
The financial advantage of accepting the special order from the wedding party is $2352.
The following expenses must be considered before accepting the special order:
1. Boosted Sales from the Special Order
2. Added variable costs
3. The price of the unique tool
Unit variable cost: 142+ 90+ 9+ 15=256
In any case, the remaining manufacturing expenses would be incurred. As a result, they have no bearing on the judgment.
Sales from special orders brought in $ = (21× $368) = 7728
The Variable Cost of a Special Order is $ = (21× $256)= (5376 )
financial benefit = Sales - variable cost
= 7728 - 5376
= $ 2352
The unique order should be accepted by the business since it will boost profits by $2352.
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Correct question:
Imperial Jewelers manufactures and sells a gold bracelet for $408.00. The company’s accounting system says that the unit product cost for this bracelet is $268.00 as shown below:
Direct materials $142
Direct labor 90
Manufacturing overhead 36
Unit product cost $268
The members of a wedding party have approached Imperial Jewelers about buying 30 of these gold bracelets for the discounted price of $368.00 each. The members of the wedding party would like special filigree applied to the bracelets that would require Imperial Jewelers to buy a special tool for $452 and that would increase the direct materials cost per bracelet by $9. The special tool would have no other use once the special order is completed.
To analyze this special order opportunity, Imperial Jewelers has determined that most of its manufacturing overhead is fixed and unaffected by variations in how much jewelry is produced in any given period. However, $15.00 of the overhead is variable with respect to the number of bracelets produced. The company also believes that accepting this order would have no effect on its ability to produce and sell jewelry to other customers. Furthermore, the company could fulfill the wedding party’s order using its existing manufacturing capacity. What is the financial advantage (disadvantage) of accepting the special order from the wedding party?
What is meant by absolute advantage economics?
Absolute advantage is a concept in economics that refers to the ability of a person, company, or country to produce a good or service at a lower cost compared to another.
Absolute advantage is an important concept in international trade. It is the foundation for the idea of comparative advantage, which states that countries should specialize in what they can produce most efficiently and then trade with other countries for the goods or services they cannot produce as efficiently.
For example, a country may have an absolute advantage in producing certain types of clothing, meaning it can produce them more efficiently than any other country. In this case, they would benefit from specializing in producing clothing and trading with other countries for products they cannot produce as efficiently.
In conclusion, absolute advantage is an important concept in economics and international trade and is beneficial for both countries involved in the trade, as it allows them to benefit from the goods and services they cannot produce as efficiently.
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Usually the world cup is hosted in june. why is it scheduled for november this year?
The 2022 FIFA World Cup is being held in November and December as opposed to previous FIFA World Cups, which are normally held in June and July due to the strong summer heat and frequently fairly high humidity in Qatar.
It will be the second World Cup staged fully in Asia after the 2002 competition in South Korea and Japan, and it will be held in Qatar from November 20, 2022, to December 18, 2022. It will be the first World Cup to be held in the Arab and Muslim worlds. The 2018 final saw France defeat Croatia 4-2 to retain their title. At least 79 nations have participated in the 21 tournaments that have been conducted. 13 of them have advanced to the championship game, and 8 have triumphed. Brazil is the most successful World Cup team with five championships, and it is the only country to have competed in every World Cup competition.
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resource a b c d 1 5 8 7 7 2 4 9 5 9 3 6 9 8 7 4 7 6 6 9 for the optimal schedule, what is the total number of hours required to complete these jobs?
23 hours is the total number of hours required to complete these jobs.
What is optimal assignment problem?In order to solve the best assignment problem, n entries must be picked, each from a different row or column, with the goal of maximizing the total of the entries.Finding the optimal assignment (allocation) that will reduce the overall cost or time required for the machines to complete all of the jobs is the goal when allocating various jobs to different machines.The following is the formula for determining the best solution: Create the assigned issue in Step 1. Step 2: Subtract each row entry from the row minimum element in the assignment table. Step 3: Subtract each column entry from the column minimum element in the assignment table.Learn more about optimal assignment refer to :
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an advantage of franchising, from the franchisors point of view, is that franchising helps a venture grow because the franchisees provide the majority of the capital. t or f
From the perspective of the franchisor, the benefit of franchising is that it aids in a venture's expansion because the franchisees supply the vast bulk of the cash.
What is the role of a franchisor?The franchisor grants the franchisee the right to use the trademarks and service marks of a franchise system for company operations and upholds the system's brand guidelines.
What is a franchisee meaning?The franchise (or franchising) is just a technique of selling goods or services that involves a franchisor that creates the brand's trade name or business model and a franchisee who pays a royalty or frequently an upfront fee to have the right to use the franchisor's name and system.
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the rlx company just paid a dividend of $2.05 per share on its stock. the dividends are expected to grow at a constant rate of 7 percent per year indefinitely. investors require a return of 12 percent on the company's stock. a. what is the current stock price? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) b. what will the stock price be in 3 years? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. what will the stock price be in 10 years? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
The current stock price is $17.37.
The stock price in 3 years will be $20.89.
The stock price in 10 years will be $32.50.
Which dividends do you mean?A firm may pay its shareholders a dividend in the form of cash or another kind of compensation. Dividends can be paid in a number of ways, including cash payments, stock dividends, or any other kind of dividend. The board of directors of a firm decides what dividend to pay, and shareholders must approve the decision.
How is a dividend distributed?A firm may pay a class of shareholders a dividend, which is a distribution of portion of its earnings. The typical method of payment for dividends is a dividend check. But they can also receive payment in extra stock shares.
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. how would you describe the economic transactions described in the document? to what extent were they conducted between equal parties? who, if anyone, held the upper hand in these dealings?
Business transaction: transferring goods, providing services (including risk-taking and saving), and moving money and other investments between people who live in one country and people who live in another country.
.Examples incorporate shops, high roads, or sites. The whole group of people who buy a product or service might also be referred to by the term. The place where buyers and sellers come together to buy and sell goods and services is called a market.
To put it all the more directly, non-monetary movement is performed with the part of utilizing administrations to others disregarding to any monetary benefit. ... A non-economic activity is doing things with one's own family, like spending quality time with them.
Transport, communication, trade, health, education and administration are example of tertiary activity. Economic Activity : These are those activities which do not give income in return. They also do not contribute to the flow of goods and services in the economy.
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a chronological resume lists your work history in reverse order, starting with your current or most recent job and working backwards. it is the most common way to organize a resume, and many employers like this format because it presents your work history in a clear, easy-to-follow arrangement. a functional or skill-based resume focuses on skills and capabilities you possess that qualify you for a position. instead of listing your work history at the top, a functional resume begins with key areas of experience, responsibilities, and accomplishments. a combination resume highlights the strengths of candidates who have both relevant work experience and skills. it meshes the skills focus of the functional resume with the work history focus of the chronological format. which type of resume will you choose to use? select an option from the choices below and click submit.
In a case whereby a chronological resume lists your work history in reverse order, starting with your current or most recent job and working backwards and many employers like this format because it presents your work history in a clear, easy-to-follow arrangement the type of resume will you choose to use is Combination resume.
What is a combination resume?A combination resume can be described as the resume format which was designed for highly-trained job seekers with previous work experience.
It should be noted that it is been reffered to as combination” as a result of how it combines the most notable features of both the functional resume format and the chronological resume, however when using it, If you have any gaps in employment, the combination resume can not be used to downplay these like the functional resume will.
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management resources that need control include machinery usage, labor volume, money spent, time used, warehouse space used, and material usage. group of answer choices true false
It is true that management resources that need control include machinery usage, labour volume, money spent, time used, warehouse space used, and material usage.
What are management resources?Resource management can be understood as the efficient and effective development of an organization's resources when they are needed. Examples of such resources are financial resources, inventory, human skills, production resources, information technology and natural resources. In the realm of project management, processes, techniques and philosophies as to the best approach for allocating resources have been developed.
Resource management is considered the key element to activity resource estimating and project human resource management.
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What is the main responsibility common to central banks?
A key role of central banks is to behavior financial coverage to gain charge stability (low and stable inflation) and to help control financial fluctuations.
A nation's central banks is commonly given a mix of obligations which includes figuring out the money deliver, supervising banks, offering banking services for the authorities, lending to banks throughout crises, and promoting patron safety and network development.
The vital financial institution gives services to the crucial authorities. It collects payments to the governments and makes payments on behalf of the authorities. It maintains and operates deposit debts of the government. The important financial institution also manages public debt and problems loans.
A significant financial institution is a public institution that manages the forex of a rustic or organization of nations and controls the cash supply – literally, the quantity of money in circulate. the main goal of many central banks is fee balance.
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college students from idaho elected to spend their spring break in lake tahoe, ca rather than in cancun, mexico because california is closer and the transportation is cheaper. this decision illustrates the concept of:
The decision illustrates the concept of Intervening opportunity
The concept of intervening opportunity refers to the idea that the availability and attractiveness of alternative options can influence a person's decision-making. An opportunity arising in between a person's starting point and the place they want to go while they are migrating. It is regarded as a pull factor that encourages migration to other locations. It is described as settling in a location that is less distant.
For instance, if a person wanted to travel somewhere but stopped in the middle and waited for a bit before moving on to the destination. In the given case, the college students from Idaho chose to go to Lake Tahoe instead of Cancun because it was closer and more affordable, suggesting that the intervening opportunity of a nearby and less expensive destination influenced their decision.
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Which are more economically efficient, perfectly competitive markets or monopolies?Compared to monopolies, perfectly competitive markets are?A. More economically efficent because they produce at lower average total cost.B. Less economically efficient because they rusutl in more deadweight loss.C. More economically efficient because they produce where marginal revenue ewuals marginal cost.D. Less economically efficient because they result in more economic surplusE. More economically efficient because they result in more emonomic surplus.
More economically efficient than monopolies are markets with perfect competition. In a market where there is competition, businesses have an added motivation to increase production efficiency and reduce the likelihood of wasteful overproduction.
Why monopolies are less effective than markets with complete competition?A competitive market outperforms a monopoly in terms of total gains from trade.
What makes monopolies superior to perfect competition?Consumers benefit more from the local monopolist's sales since they are sold in greater quantities and at lower prices than what outside competition could offer. Due to cheaper costs and the fact that outside competition limits the local monopoly's market power, consumers profit overall from it.
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Location decisions are basically one-time decisions usually made by new organizations.t/f
Location decisions are basically one-time decisions usually made by new organizations. This is a false statement.
The objective of a location strategy. to maximize the benefit of location to the firm. the focus of location strategy for industrial location decisions. Usually minimizing costs. Can also be locations that foster creativity and innovation.
The primary considerations related to site are land and access. +other considerations, room for future expansion, utility and sewer capacities, and sufficient parking space for employees and customers.
The center of gravity method is a location planning technique that determines a composite score from weighted factor evaluation. Factor scoring determines a composite score from weighted factor evaluation. The center of gravity method is useful in location planning for the location of a distribution center.
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