Defined by Miles as "a requirement of the activities of one subunit that is affected by the activities of other subunits" is a _________.
A. strategy
B. goal
C. system
D. independence

Answers

Answer 1

Defined by Miles as "a requirement of the activities of one subunit that is affected by the activities of other subunits" is a independence. Correct answer: letter D.

The independence of a subunit is defined by Miles as a requirement for the activities of the subunit to be free from the influence of other subunits. This means that the subunit must be able to make decisions and carry out activities without interference from other subunits. This enables the subunits to work independently and allows them to pursue their own objectives without interference or influence from other subunits.

The Benefits of Independence for Subunits in Organizations

Organizations rely on their subunits for a variety of tasks, such as sales, marketing, and production. This independence can bring a number of benefits to an organization:

First, having independent subunits allows an organization to be more agile and responsive to changes in the environment. When a subunit is able to make decisions on its own, it can quickly respond to changes in the market or customer demands without consulting other subunits. This increases an organization’s ability to be competitive and to capitalize on opportunities.Second, having independent subunits can help to reduce conflict between the various subunits. When a subunit has autonomy and is able to make decisions without consulting other subunits, it is less likely to experience conflict with other subunits because they are not competing for resources or influence. Finally, allowing subunits to operate independently can help to foster creativity and innovation.

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Related Questions

How do you manage your performance?

Answers

Effective way to manage performance is by setting goals, tracking progress, and reflecting on areas for improvement . Strive to stay organized and prioritize tasks to ensure meeting the goals. Continuous  feedback and follow ups from the colleagues and supervisors to gain insight and adjust the strategies as needed.

Performance management is a systematic method for developing and maintaining better employee performance, which boosts businesses' effectiveness.

Performance management is crucial from a business perspective to guarantee that corporate strategy and goals are met.

It enables managers and executives to concentrate on particular areas to fulfil goals. Without performance management, the business wouldn't know how it was doing and wouldn't be able to change its goals or the plan it utilised to get them.

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a nation's annual growth rate of real gdp per capita is 2 percent. its standard of living will

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A nation's annual growth rate of real GDP per capita is 2 percent. its standard of living will be doubled in 35 years.

What do you mean by GDP?

GDP estimates the monetary worth of final products and services (those purchased by the final user) generated in a country over a certain time period.

It serves as a comprehensive scorecard of a country's economic health because it is a wide measure of entire domestic production.

GDP is normally estimated on an annual basis, although it is also calculated on a quarterly basis.

In the United States, for example, the government publishes an annualised GDP estimate for each fiscal quarter as well as for the entire calendar year.

Therefore, a nation's annual growth rate of real GDP per capita is 2 percent. its standard of living will be doubled in 35 years.

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The __________ method is a framework for operationalizing a firm's strategic plan by focusing on measurable outcomes based on for dimensions of a firm's performance.

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The Balanced scorecard method is a framework for operating a firm's strategic plan.

The Balanced scorecard is a management performance metric used to identify and improve the company's internal operations to help in managing their external outcomes.

It forms an important part of managing the internal factors which can be controlled and helps to measure past performance data as well as provides feedback to make better decisions. Used to measure and provide feedback to organizations.

It was developed for profit, non-profit, and government organizations. It helps companies to pool information in a single report.

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lutite, a lighting corporation, acquires and merges with castelle, a kitchen company in a billion-dollar merger. lutite, prior to the merger, sold only lighting products. after the merger, lutite sells lighting and kitchen products. the merger between lutite and castelle is an example of a .

Answers

The merger between lutite and castelle is an example of a geographic extension.

Geographic extension is a type of internal growth strategy when a business owner just expands their firm from their current location to new geographical locations. Retail environments tend to see the most of this kind of expansion.

A small business that operates a profitable retail store in one location, for instance, might grow by building a second location in a nearby neighborhood. The companies Gap Inc., Walgreens, and Chipotle are examples of those that have expanded geographically. Of course, the most well-known example of phenomenally successful growth through geographic expansion is McDonald's, which today has over 31,300 outlets globally.

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if a project manager communicated a false project status to stakeholders, stating that the project was ahead of schedule and under budget, although it was the opposite, so they would think the project was doing much better than it really was, this would best be described as an issue of:

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If a project manager communicated a false project status to stakeholders, stating that the project was ahead of schedule and under budget, although it was the opposite, this would best be described as an issue of fairness.

Fairness is concerned with actions, processes, and consequences, that are morally right honorable, and equitable. In essence, the virtue of fairness establishes moral standards for decisions that affect others. Fair decisions are made in an appropriate criteria. Fairness and fair play are less lofty terms than justice or equity yet, on the level on which most of us operate, the desire to be treated fairly and the duty to be fair and play fair are far more relevant.

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Two rival firms vigorously compete by spending millions of dollars on product improvements and advertising to promote those improvements. This is an example of firms engaging in:

Answers

Answer: Non-price competition.

Explanation:

Cash flows from ________ activities include both inflows and outflows of cash from the external funding of a business.

Answers

Cash flows from Operating activities include both inflows and outflows of cash from the external funding of a business.

Cash influx is the term used to describe the money that enters a firm. It might originate from sales, investments, or financing. A cash inflow is the opposite of a cash outflow since it involves money coming into a business. Operating cash flows concentrate on the cash inflows and outflows related to a company's fundamental business activities, such as the sale and purchase of inventories, the delivery of services, and the payment of salaries.

While the income statement covers income and expenses, the cash flow statement lists cash inflows and outflows. While an income statement demonstrates profitability, a cash flow statement demonstrates liquidity. Many forms of income also involve cash inflows. The selling of livestock and crops typically generates income.

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using a simulation model allows one to ignore the common assumptions required to use analytical models. group of answer choices true false

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It's true that while utilizing a simulation model, one can omit the typical premises needed to employ analytical models one to ignore the common assumptions.

When you assume that something is true or will occur, you accept that it is true or will occur, frequently without any actual evidence. Life's Typical Assumptions I've Never Assumed to be True .I can't wait for retirement. A fruitful life is a busy life. Mothers-in-law are terrible. Money doesn't alter you. Parenting teenagers is miserable. Extended time with extended relatives is to dreaded. Recognizing  Assumptions, Worldview assumptions that relate to how you perceive and organize the world are known as paradigmatic assumptions. Prescriptive assumptions are what you believe ought to occur in each circumstance. Causal assumptions have to do with how things operate and how you can influence them.

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Approximately how long after the big bang did the era of nucleosynthesis end, marking the time when the basic chemical composition of the universe was determined?

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Approximately The Era of nucleosynthesis lasted until 3 minutes after the Big Bang marking the time when the basic chemical composition of the universe. This predicted by Big Bang theory.

The process of creating new atomic nuclei—the protons and neutrons that make up the centers of atoms—is known as nucleosynthesis. Within a few minutes after the Big Bang, the process of nucleosynthesis began. Protons and neutrons were created at that moment from a quark-gluon plasma, a mixture of quarks and gluons.

The Big Bang Nucleosynthesis theory predicts that about 25% of the universe's mass will be made up of helium. Approximately 0.01% deuterium and even lower amounts of lithium are also predicted. The density of baryons at the moment of nucleosynthesis has a significant impact on the prediction. The required density of baryons is a few percent in terms of the critical density of matter that exists now.

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when the owner of cash or commercial paper, such as a check, makes it payable to bearer, who then gives it to a third person, the original owner cannot demand the return of the money from a third party to whom it was given in exchange for something of value. this is an example of:

Answers

This is an example of an unconditional order to pay, or an order to pay the bearer.

Commercial paper, inside the global economic marketplace, is an unsecured promissory observation with a fixed adulthood of rarely greater than 270 days. In layperson phrases, it's miles like an "IOU" but may be sold and sold because its customers and sellers have some diploma of self-belief that it may be correctly redeemed later for cash, based totally on their evaluation of the creditworthiness of the issuing employer.

Industrial paper is a money-market protection issued by using big companies to attain finances to satisfy brief-term debt duties (for instance, payroll) and is subsidized only via an issuing financial institution or company promise to pay the face quantity on the maturity date specified on the observe. since it is not sponsored by way of collateral, the best companies with fantastic credit rankings from an identified credit score rating organization might be able to sell their industrial paper at a reasonable charge. industrial paper is usually sold at a discount from face value and generally includes lower hobby reimbursement quotes than bonds because of the shorter maturities of business paper. usually, the longer the maturity on notice, the higher the hobby charge the issuing group will pay. interest prices vary with market conditions but are commonly decreased than banks' quotes.

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What 5 qualities make a good dental assistant?

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People Skills, Communication Skills, Versatility, Fine Motor Skills, Attention to Detail are the 5 qualities make a good dental assistant.

Dental assistants must be able to communicate clearly with patients, practitioners, and other professionals, including those working for insurance companies. You must be able to communicate clearly verbally, in writing, over the phone, and in person if you want to work as a dental assistant.

A dental assistant needs to have excellent hand dexterity. The little portion of the body that contains many fragile tissues and structures that are the focus of dental operations. The instruments that dentists and dental assistants use are frequently highly sharp or potentially dangerous if a mistake is made. The best dental assistants are agile enough to handle equipment securely.

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if the fed wanted to expand the money supply as part of an antirecession strategy, it could:________

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If the Fed wanted to expand the money supply as part of an anti recession strategy, it could buy U.S. securities on the open market

The Federal Reserve System is the acronym of the state banking network in the USA. The three primary objectives for monetary policy outlined by Congress in the Fed Act are to increase employment, preserve price stability, and reduce long-term interest rates.

Low inflation, as opposed to zero or minus inflation, may minimize the severity of recessions by enabling the labor market to react more quickly during a downturn and reducing the likelihood that a liquidity crisis will prohibit monetary policy from controlling the economy. Usually, the job of monetary authorities is to keep inflation moderate and steady. After dividends on capital investments made by member banks are paid, all yearly income of the system go to the federal government, which also determines the salaries of the committee's seven governors.

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concept testing involves taking a product idea to consumers to test their reactions. concept testing involves taking a product idea to consumers to test their reactions. false true

Answers

The process of taking a product idea to consumers to test their reactions is known as product screening.

What is consumers?Product concept tests are a type of market research that provide important early-stage information into how customers will react to product, design, and marketing ideas. Concept testing can help you fine-tune the finished product and determine what connects with consumers before you devote time, resources, and manufacturing hours. When you create a product, you do so with the expectation that consumers will find it appealing. Simply put, product concept testing aids in the verification of that presumption.It enables you to get rid of terrible ideas If your team is considering several product concepts, concept testing can assist you in determining which (if any) may be useful to clients. Bad ideas can be expensive to pursue, and if they receive enough attention, they may harm the reputation of your business. You may conserve resources and money by conducting market research on your ideas before they are developed. This will help you weigh opposing viewpoints intelligently and make wise conclusions.You save time and money: Concept testing does take more time throughout the development process, but consider how much time and money you'll save by only buying things that have been examined (and approved) by a test group.

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What are examples of transition economy?

Answers

Countries such as the People's Republic of China and Vietnam adopt a gradual transition model, but Russia and some other Eastern European countries, such as the former Socialist Republic of Yugoslavia, use a transition model.

Change more actively and faster. Countries economies in transition are considered countries that are undertaking macroeconomic reforms with the aim of changing the way their Socialist economies operate. This has traditionally involved the country making structural adjustments from a state-run economy to a more market-oriented system. Countries with economies in transition (CEIT) are the countries of the former Soviet Union and the countries of Central and Eastern Europe.

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at the beginning of year 1, a company hired an executive whose contract included the promise of payment of $100,000 in each of years 6, 7, and 8 if the executive is employed at the end of year 5. how should the compensation expense associated with this contract be recorded?

Answers

The compensation expense account should be recorded with $60,000

Total number of years = 3 ( 6, 7 and 8)

Amount promised to be paid = 1,00,000

Time after which executive is employed = 5 years

The cost of benefits should be recognized over the requisite duration of service if the conditions of a deferred compensation arrangement ascribe all or a portion of anticipated future benefits to a period of service longer than one year, as is the situation in this issue.

Thus, for three years the amount will be -

1,00,000 + 1,00,000 + 1,00,000

= 3,00,000

Therefore,

The total $3,00,000 benefit would be expensed over five years -

= 3,00,000/5

= 60,000

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keynes explained that recessions and depressions occur because of keynes explained that recessions and depressions occur because of excessive aggregate supply. inadequate aggregate demand. inadequate aggregate supply. excessive aggregate demand. excessive investment spending

Answers

Option B is correct, Keynes recessions and depressions occur because of inadequate aggregate demand.

The aggregate demand curve is plotted with actual output on the horizontal axis and the fee degree on the vertical axis. at the same time as it is theorized to be downward sloping, the Sonnenschein–Mantel–Debreu results display that the slope of the curve cannot be mathematically derived from assumptions approximately man or woman rational behavior. instead, the downward-sloping combination demand curve is derived with the help of 3 macroeconomic assumptions approximately the functioning of markets: Pigou's wealth effect, Keynes' hobby fee effect, and the Mundell–Fleming exchange-fee impact. The Pigou impact states that a better fee stage implies a decrease in actual wealth and consequently lower consumer spending, giving a lower quantity of products demanded inside the aggregate.

The Keynes effect states that a higher price level implies a decrease in actual money delivery and therefore better hobby prices because of financial market equilibrium, in turn ensuing in lower investment spending on new physical capital and therefore a decreased amount of goods being demanded within the aggregate.

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Which financial statement conveys a company's ability to generate profits in the current period?
A. income statement
B. statement of cash flows
C. Balance sheet
D. Statement of stockholders equity

Answers

Income statement conveys a company's ability to generate profits in the current period.

Hence, Option A is correct

An income statement is a financial statement that lists the revenue and expenses of the company. Additionally, it displays a company's profit or loss over a specific time frame. You may better comprehend your company's financial situation by comparing the income statement to the balance sheet, cash flow statement, and cash flow forecast.An income statement displays the revenues, costs, and profitability of a business over time. It is also sometimes referred to as an earnings statement or a profit-and-loss (P&L) statement. It displays your sales revenue for goods and services. expenses for running your firm and generating money.

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Under the Equal Pay Act, an employer can legitimately pay different wages to male and female employees on the basis of
a. the primary duties of the jobs.
b. all of the choices.
c. a seniority or merit system.
d. any factor other than gender.

Answers

Under the Equal Pay Act, an employer can legitimately pay different wages to male and female employees on the basis of

the primary duties of the jobs.seniority or merit system.any factor other than gender.

The Option B is correct.

What did the Equal Pay Act provide?

Fully known as the Equal Pay Act of 1963, was a United States labor law amending the Fair Labor Standards Act, aimed at abolishing the wage disparity based on s-ex. It was signed into law on by John F. Kennedy as part of his New Frontier Program.

In passing the bill, Congress stated that sex discrimination depresses wages and living standards for employees necessary for their health and efficiency, prevents the maximum utilization of the available labor resources, cause labor disputes thereby burdening, affecting, and obstructing commerce, burdens commerce and the free flow of goods in commerce and constitutes an unfair method of competition.

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What is the most important feature of a checking account?

Answers

Managing and administering large amounts of money, this is the most important feature of a checking account.

A checking account is an account that allows you to receive large amounts of money and make payments directly, in addition to making electronic transfers and handling checks.

What is a bank account?

It is a financial contract that a person or a company has with a bank that is managed virtually or physically, bank accounts are intended to store the financial income of individuals in order to manage them.

It is possible to open a checking account or a savings account, the checking account is the one that allows to deposit funds immediately and the savings account is the one that allows to save in time and to generate interest.

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true or false: the process to calculate a portfolio's beta is opposite of the process to calculate a portfolio's expected return.

Answers

The process to calculate a portfolio's beta is opposite of the process to calculate a portfolio's expected return is false.

What is the expected return of a portfolio?

The weighted average rate of return for all the assets in the portfolio is the projected return for the portfolio. Simply multiplying each asset's rate of return by its corresponding percentage will yield the weights, which show the percentage of the overall investment portfolio that is invested in each asset.

An investment's expected return is the expected value of the probability distribution of the potential profits it might offer investors. The expected return of a portfolio is the total expected return of all the assets, weighted by their respective proportion. The weighted average of the returns on each asset in a portfolio is the expected return for that portfolio.

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Final answer:

The return of your portfolio is 7.6875.

Explanation:

To calculate the return of your portfolio, you need to multiply the weight of each stock by its respective return and then sum up these weighted returns.

Let's calculate:

Walmart: 15% * 12.53 = 1.8795Disney: 25% * 8.83 = 2.2075Oracle: 35% * 13.53 = 4.7455NBC: 25% * -4.58 = -1.145

Now, sum up the weighted returns:

1.8795 + 2.2075 + 4.7455 - 1.145 = 7.6875

Therefore, the return of your portfolio is 7.6875.

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a credit card provider uses a software to determine the likelihood of customers defaulting on their payments. the software assigns a credit score to each customer based on their past transactional records. this software is an example of a(n) system. question 7 options: a) bpr b) ai c) pm d) bi

Answers

This credit card provider software is an example of business intelligence (BI) system.

What is business intelligence?

Business intelligence (BI) refers to the methods and tools employed by organizations for the administration and analysis of business data. In order to find, develop, and otherwise create new strategic business possibilities, BI technologies can handle huge amounts of structured and occasionally unstructured data. They seek to make these large data easily interpretable. Businesses can gain a competitive market edge, long-term stability, and the ability to make strategic decisions by recognizing new opportunities and putting an efficient plan based on insights into practice. Businesses can utilize business information to inform a variety of decisions, from tactical to strategic. Product positioning or price are examples of fundamental operational decisions. Priorities, goals, and directions are the three main components of strategic business decisions.

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a property owner has set up a contract in which he agrees to sell a warehouse 5 years from now to the tenant who currently leases the space. the tenant has agreed to continue to pay $20,000 in rent at the end of each year, including year five, at which time he will purchase the building for an additional $1,500,000. assuming the required rate of return on a similar investment is 10% (annual), how much is this deal presently worth to the original owner of the property?

Answers

The current value of the agreement is displayed below. A warehouse owner has a contract in place where he promises to sell it to the tenant who is now renting the space in 5 years.

What is the value of this transaction?

The renter had committed to continue paying $20,000 in rent at the end of each year, up until year five, when he will pay an additional $1,500,000 to buy the building. The agreement is worth roughly $1,007,197.20 if the needed rate of return on a comparable investment is 10% (annually).

What does "property contract" mean?

An agreement between parties for the purchase and sale, exchange, or other conveyance of real estate is known as a real estate contract. . The sale of land is governed by the laws and practices of the jurisdiction in which the land is located.

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you just won the lottery, which promises you $540,000 per year for the next 20 years, starting in one year. if your discount rate is 8.25%, what is the present value of your winnings?

Answers

If the discount rate is 8.25% then the present value of my winning a lottery is $5,204,600.

What is lottery?

A game in which tickets with numbers are sold to participants, who then have the chance of winning a prize if their number is chosen. This game is frequently arranged by the government or a charity in order to raise money.

With a set of numbers, the lottery game is played in finance. Either manually or automatically, the numbers are selected at random. The picked numbers are intended to win prizes. The prize money may be awarded to the winner as a flat sum or in instalments. In general, prize winners prefer receiving a lump sum of money.

Although there is debate about whether lotteries actually increase public spending, they do allow governments to earn money without raising taxes.

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when the fed lowered the discount rate in late 2008, the action was ultimately designed to: multiple choice increase the money supply. increase the prime rate. decrease the monetary base. increase the reserve requirement.

Answers

When the Federal Reserve lowers the reserve ratio, which lowers the amount of cash banks must keep in reserves, banks are able to offer more discount loans. The correct answer is increasse in reserve requirements.

One way the Federal Reserve can increase the money supply is by lowering the discount rate.When the discount rate is lower, depository institutions are more inclined to borrow, which increases their reserves and lending activity.By changing the discount rate, the Fed can influence the money supply, which in turn can help to stimulate economic activity or help to restrain inflationary pressures. The Fed will encourage banks to increase lending if it reduces the discount rate.If the Fed lowers its discount rate, the funds will be used to make decisions on monetary policy, open market operations, and purchases of or relating to money or the mechanisms employed to supply and transfer funds within an economy.

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Suppose the exchange rate is 90 yen per u.s. dollar and the united states wants to keep the exchange rate at a target rate of 90 yen per u.s. dollar. if the demand for u.s. dollars ​, the fed​ ______.

Answers

If the demand for U.S. dollars decreases, the Fed would likely buy dollars to raise the exchange rate back to the target rate of 90 yen per dollar.

This would be the case because when demand for a currency decreases, its value also decreases, so in order to maintain the target exchange rate, the Fed would need to intervene by buying dollars to increase its value and bring the exchange rate back to the target rate. Therefore, the correct answer is option A: "buys dollars to raise the exchange rate."

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Complete Question:

Suppose the exchange rate is 90 yen per U.S. dollar and the United States wants to keep the exchange rate at a target rate of 90 yen per U.S. dollar. If the demand for U.S. dollars decreases, the Fed ______

A. buys dollars to raise the exchange rate

B. sells dollars to raise the exchange rate

C. sells dollars to lower the exchange rate

D. buys dollars to lower the exchange rate

glass co. had net income of $70,000 during the year. depreciation expense was $10,000. the following information is available: accounts receivable increase $20,000 equipment gain on sale (sale price $100,000) 10,000 increase nontrade notes payable increase 50,000 equipment purchases 40,000 increase accounts payable increase 30,000 what amount should glass report as net cash provided by investing activities in its statement of cash flows for the year?

Answers

Glass Co. earned $70,000 in net income for the year. The cost of depreciation was $10,000. The following is a statement of cash flows for the entire year.

What does the annual cash flow statement look like?

Equipment purchases and sales are considered investing activities.Equipment was purchased for $40,000, but it was also sold for $100,000. $60,000 is the net cash inflow ($100,000 - 40,000).

What exactly does "cash flow" mean?

The movement of money into and out of a business is known as cash flow. Cash spent indicates outflows, whereas cash received indicates inflows. A financial statement that details the sources and uses of a company's cash over time is called a cash flow statement. But profit is the money you have left over after subtracting your business expenses  from overall revenue.

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a book store opens across the street from the university book store (ubs). the new store carries the same textbooks but offers a price 20 percent lower than ubs. if the cross-price elasticity is estimated to be 1.5, and ubs does not respond to its competition, how much of its sales is it going to lose?

Answers

If the new retailer offers the same textbooks at a price 20 percent less than UBS, if the cross-price elasticity is determined to be 1.5, and if UBS does not react to its competition, it will lose 30% of sales.

Given:

Offer a price 20 percent lower than UBS

The cross-price elasticity is estimated to be 1.5

The sales is it going to lose = 20% × 1.5 = 30%

UBS is a global investment bank based in Switzerland.It was created by the amalgamation of Swiss Bank Corp. and Union Bank of Switzerland.Investment & retail banking and asset & wealth management are two of UBS's primary business segments.Swiss private bank accounts are facilitated by its retail banking division.About $4.8 billion in assets are being managed by the organization.One of its predecessor companies, the Union Bank of Switzerland, is where the term UBS originates.The Union Bank of Switzerland and Swiss Bank Corporation amalgamated in 1998, giving rise to the current UBS.As a result, UBS is now used as the organization's official name rather than as an acronym.UBS offers goods and services to a wide range of customers through a number of significant divisions.

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What are the two biggest expenses in the federal budget?

Answers

Healthcare and Social Security are the two biggest expenses in the federal budget. And defense is also a major expense for federal budget.

The operational costs a business bears in order to make money are referred to as expenses. Simply put, it is the amount of money necessary to acquire anything. According to a proverb, "making money costs money."

Paying suppliers, paying employees, leasing facilities, and depreciating equipment are examples of frequent costs. To reduce their taxable income and therefore their tax liability, businesses are permitted to deduct tax-deductible expenses on their income tax returns; however, the Internal Revenue Service (IRS) sets tight guidelines on which expenses firms are permitted to claim as a deduction. The major objective of management teams in businesses is to enhance profits. This is accomplished by increasing income while controlling costs.

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stingy corporation is expected have ebit of $1.2m this year. stingy corporation is in the 30% tax bracket, will report $133,000 in depreciation, will make $76,000 in capital expenditures, and will have a $24,000 increase in net working capital this year. what is stingy's fcff?

Answers

The increase in net working of stingy corporation's capital this year is of $873,000.

By using the formula, FCFF = CFO + Int(1 – Tax rate) – FCInv

1,200,000(.7)+133,000-76,000 - 24,000

= 873,000

The amount by which a company's operating cash flow exceeds its demands for working capital and expenditures for fixed assets is known as free cash flow or free cash flow to firm. After depreciation costs, taxes, working capital, and investments are taken into account, FCFF is the cash flow from operations that is available for distribution.

Possibly the most significant financial indication of a company's stock value is free cash flow. A high ratio of price to free cash flow suggests that the company is undervalued. To assess if a company is under- or over-valued in the industry it competes in, its P/FCF should be contrasted to the ratios of other, comparable companies.

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ancient goldsmiths are credited with part 2 a. creating paper notes that could purchase goods and services. b. developing deposit slips for gold and silver. c. the creation of the fraction reserve banking system. d. all of the above.

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Ancient goldsmiths are credited with  creating paper notes that could purchase goods and services, developing deposit slips for gold and silver and the creation of the fraction reserve banking system.

Ancient legends have been proven time and time again by archaeological discoveries to have at least some basis in fact. For example, gold is known to have been mined in ancient times from the greasy fleece of sheep and goats from the rivers of Central Asia, so the mythical gold-speckled fleece that Jason and his Argonauts were looking for could have been obtained by conquest. Real wealth earned. Similarly, Daedalus may not have been an important figure in mythology, but he was a true master craftsman in the service of King Minos of Crete. And at least some of his exploits may have been real enough. Ancient Egyptian goldsmiths had developed the lost-wax technique long before the mid-Minoan period. Crete and Egypt had a commercial treaty. Because the prosperous Egyptians undoubtedly developed a taste for Minoan pottery among other resources.

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