An improved next best alternative not yield results for a company owner that is negotiating the company does not make the other party aware of its improved next best alternative.
What do you mean by the negotiating in company?Negotiation is a strategic dialogue that resolves a problem in a way that is agreeable to both parties.
Negotiations can occur between buyers and sellers, between an employer and a prospective employee, or between governments of two or more nations.
A business negotiation is a process in which two or more parties seek to find common ground and achieve an agreement to settle a topic of mutual concern, resolve a conflict, and exchange value.
Contract negotiation is a pre-determined technique or set plan of action to achieve a specified aim or target in a negotiation with the help of the finest negotiation strategies, such as finding and making an agreement or contract.
Therefore, an improved next best alternative not yield results for a company owner that is negotiating the company does not make the other party aware of its improved next best alternative.
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after preparing a project-development agenda, the office manager prepares a conference room for the meeting. she places a circular table in the center of the room and surrounds it with comfortable chairs. what message is the office manager expressing nonverbally?
The message is the office manager expressing nonverbally is that she wishes to promote open communication.
According to the conventional definition, a manager is just one who is responsible for supervising people's actions. Simply, managers supervise others' efforts to accomplish goals. In the modern workforce, managers may be in control of certain systems or tasks that don't require human interaction.
A manager's responsibility is to establish clear expectations for employees so that they know what is expected of them. The ultimate goal is to provide a steady flow of high-quality work to prevent time-consuming job redos, which lower productivity and impair the performance of the department a manager oversees.
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what is a serial schedule? what is a serializable schedule? why is a serial schedule considered correct? why is a serializable schedule considered correct?
A sort of schedule known as a serial schedule requires that one transaction be finished before beginning another.
Why is a serial schedule regarded as accurate? The serial schedule is a sort of Schedule in which one transaction is finished before beginning another.Multiple transactions run concurrently or simultaneously under a non-serial schedule.A schedule that is guaranteed to have the same impact on any consistent database instance as some complete serial schedule over S is known as a serializable schedule.Figure 2. T1.When the executions of the transaction have their operations interleaved, it determines which schedules are correct.If a non-serial schedule's output is the same as the outcome of its serially executed transactions, it can be serialized.The database is unaffected by the concurrent execution of the transactions, hence a serializable schedule is considered to be accurate.A transaction's ability to be serialized depends on its isolation level.To learn more about serial schedule refer
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rachel has drafted a plan for her firm that explicitly analyzes the marketing and advertising situation, identifies the objectives of the advertising campaign, clarifies a specific strategy for accomplishing those objectives, and indicates how the firm can assess whether the campaign was successful. this subsection of the firm’s overall marketing plan is called its
A marketing strategy plan lays out how you'll connect with your target market and accomplish your advertising objectives. You'll list the channels you'll employ, important messaging, and necessary funding in it, as well as all the other components and details you need to implement your advertising strategy.
A problem should be addressed in an advertisement. Consider this in terms of the reasons why more individuals aren't using your services. Give an account of your yearly revenue as well as the market share you hold for the services you offer in the region you serve.
List the market shares of your rivals and succinct summaries of the services they provide, their sales approaches, and their public relations initiatives.
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list at least 6 things your credit card company must clearly disclose to consumers. ?
The Truth in Lending Act, often known as rule Z or TILA, mandates that lenders consumers information on all costs and expenses related to a loan. TIn order to promote honesty and transparency.
This federal regulation from 1968 requires that lenders disclose the conditions and costs of consumer loans. The annual percentage rate (APR), finance charges (including application fees, late fees, and prepayment penalties), finance charge information, a payment schedule, and the total repayment amount consumers the loan's lifetime must all be included in the lender's Truth in Lending (TIL) disclosure statement. You are protected from unreliable and dishonest credit invoicing and credit card practises by the Truth in Lending Act (TILA).
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If the fed wanted to expand the money supply as part of an antirecession strategy, it could?
The Federal Reserve could expand the money supply as part of an anti-recession strategy by taking a number of actions.
First, the Federal Reserve could reduce the federal funds rate, which is the rate at which banks lend to each other. This could be done by buying government bonds from banks, which would increase the money supply and lower the rate.
Second, the Federal Reserve could engage in quantitative easing by purchasing government bonds and other assets from banks. This would increase the money supply and provide liquidity to the banking system.
Third, the Federal Reserve could engage in open market operations by buying and selling government securities. This could be used to increase the money supply and provide liquidity to the banking system.
Finally, the Federal Reserve could reduce reserve requirements, which are the number of money banks must hold in reserve in order to lend money. This could be used to increase the money supply and provide liquidity to the banking system.
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What are the 4 types of groups?
The 4 types of groups: are primary groups, secondary groups, collective groups, and categories.
An effective group work together to finish a venture in an agreed time, with every member contributing to the group in line with their capabilities, experience, and persona. there are various ranges that you'll undergo in a set task to gain a venture.
Inside the social sciences, a social organization can be defined as two or extra individuals who interact with each other, percentage similar characteristics, and together have a sense of solidarity. Regardless, social companies are available in a myriad of sizes and types. as an instance, a society may be considered a massive social organization.
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4 primary kinds of groups have traditionally been recognized as number-one groups, secondary businesses, collective organizations, and classes.
Organizations located in an employer (four kinds)
Formal organization: This organization is described with the aid of organizational shape.
Command institution: This organization is also known as a venture institution.
Committees: advertisements:
Casual organizations casual companies are fashioned within a formal organizational structure.
A group is a set of folks that interact with each different such that one man or woman's movements have an effect on the others. In other words, a group is defined as more people, interacting and interdependent, who've come together to acquire specific objectives.
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an organization with an internal labor orientation a. is not willing to spend money to train current employee b. will tend to hire new employees to fill their needs c. will likely buy employee expertise through a merger or acquisition d. will likely spend time and money to train current employees rather than hire or acquire new employees with required skills
Self-efficacy refers to your perception of yourself, not who you really are. Because she thinks she can only perform to a certain standard and may not be aware of her aptitude for the job. The correct option A is not willing to spend money to train current employee.
A worker with low self-efficacy faces the danger of executing tasks below her true skill level. Self-efficacy is a phrase used by organisational leaders and performance managers to express a person's confidence in their own capacity to carry out a task successfully. Tasks that are the best match for each employee's knowledge, skills, and talents should be given to them.
Trade secrets, private information, and other sensitive materials are among the physical and informational assets that must be protected, and security awareness refers to the members of the organization's understanding of risks and attitude in this regard. It aids in raising awareness of the harm done by crimes and criminal conduct.
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Gains and losses on the sale of long-term assets represent common items needing adjustment under the indirect method.
a. True
b. False
Gains and losses on the sale of long-term assets represent common items needing adjustment under the indirect method. This statement is true.
One of two accounting techniques used to construct a cash flow statement is the indirect approach .By adding and subtracting balance sheet line items, the indirect method converts the operational portion ofthe cash flow statement from accounting's accrual technique to cash method.
The direct technique, which details actual cash inflows and outflows made during the reporting period, is another alternative for producing a cash flow statement. In practice, the indirect technique is more generally adopted, particularly by bigger organizations.
Investors, creditors, and other stakeholders pay particular attention to a company's sources and uses of cash on the cash flow statement. It provides details on the cash generated by various operations and illustrates how adjustments to the asset and liability accounts affect a company's cash situation.
The statement of cash flows for the indirect method starts with net income or loss and then adds or subtracts from that amount non-cash revenue and cost elements to arrive at cash flow from operating activities.
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What is offshoring and why is it a cause of structural unemployment in the united states?
Offshoring is the practice of obtaining products or services from another country or relocating production to another country. Offshoring is taking US jobs while harming the environment and violating human rights.
Offshoring is the transferring of activities or ownership of a complete business process to a different country from the country (or countries) where the company receiving the services is located. Proponents of offshoring say that the practice provides valuable goods and services at lower prices and makes way for more advanced jobs domestically.
However, when a company begins to offshore, it can affect the local economy by decreasing jobs, reducing consumer spending, and negatively impacting local businesses.
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gv the minimum annual income, of which a family that earns a lower amount is considered in poverty, is the:
The poverty threshold is the minimum yearly income below which a family is said to be living in poverty.
The U.S. government has established poverty thresholds and poverty guidelines, which are monetary values that represent the bare minimum of income that an individual or family must have in order to meet their basic necessities. People are deemed impoverished if their income is below the threshold.
The official poverty metric produced by the U.S. Census Bureau is the foundation for both poverty thresholds and guidelines.
The Census Bureau estimates the population's income, poverty levels, and other relevant data by using poverty thresholds as a component of the official poverty measure.
The most recent study, Income, and Poverty in the United States: 2017, was published in September 2018 and covers the year 2017. It gives estimates of the number of people living in poverty, the percentage of persons living below the poverty line, and the distribution of poverty by age, race, ethnicity, location, and family structure. Real median incomes and earnings, the degree of income inequality, and sex-specific poverty rates are all included in the study.
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which component can help an organization determine such things as the identification of individuals who are likely to leave the company unless additional compensation or benefits are provided?
It can help an organization determine such things as the identification of individuals who are likely to leave the company unless additional compensation or benefits are provided to human resources component.
What do you mean by the human resources component?
The department of a company tasked with discovering, selecting, hiring, and training job applicants is known as human resources (HR).
The following five main responsibilities comprise human resource activities: staffing, development, remuneration, safety and health, and employee and labour relations.
HR management aids in closing the performance gap between personnel and the strategic goals of the company. A strong HR management team can also give businesses a competitive advantage.
Therefore, it can help an organization determine such things as the identification of individuals who are likely to leave the company unless additional compensation or benefits are provided to human resources component.
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a typical sales forecast, though concerned with future events, will usually be based on recent historical trends and events as well as on forecasts of economic prospects.a. trueb. false
True a typical sales forecast, though concerned with future events, will usually be based on recent historical trends and events as well as on forecasts of economic prospects
What does economic prospects mean?
Current economic developments, both domestically and internationally, as well as projections of the most crucial macroeconomic factors, such as inflation, interest and exchange rates, GDP growth, and household consumption.
What is sales forecast?
An indication of anticipated sales revenue is a sales forecast. A sales forecast predicts how much your business expects to sell over a specific time period (like quarter or year). The most accurate sales projections achieve this feat.
Hence we can say that normal sales forecast will typically be based on recent historical trends and occurrences as well as forecasts of economic prospects, even if it is concerned with future events.
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Liquor stores in tennessee lobby the state legislature, asking that wine shipments from out-of-state be made illegal. they argue that if consumers are allowed to buy wine from out-of-state, many in-state employees of liquor stores will lose their jobs. What would an economist likely say in response to this argument?a. While it is easy to see the jobs destroyed by out-of-state wine sellers it is harder to see the jobs that are never allowed to exist because the workers are in wine sales instead of something else,b. Resources that are no longer used producing goods for which Tennessee does not have comparative advantage can be reallocated to those industries in which Tennessee does have a comparative advantage making Tennesseans wealthier,c. If people out-of-state can distribute wine at a lower price than people in-stater the consumers of this state will benefit from lower wine prices,d. All of the above.
Resources that are no longer being employed to produce products for which Tennessee does not have a comparative advantage can be transferred to those industries where Tennessee does.
What does each state's legislature look like?
Every state, with the exception of Nebraska, has a bicameral legislature, which means that there are two separate legislative houses. The smaller chamber in each case is known as the Senate and is typically referred to as the upper house.
Who makes up the state legislature?
The California State Assembly, which has 80 members, is the lower house of the bicameral state legislature. The California State Senate, which has 40 members, is the upper chamber. At the Sacramento location of the California State Capitol, both houses of the legislature meet.
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Is McDonalds is an example of a multinational corporation?
Yes, McDonald's is an example of a multinational corporation.
McDonald's is one of the biggest fast food chain in the world, which is known for selling burgers and french fries through its franchise operations around the world. It is also sometimes interpreted as a real estate company, as it locates its restaurants in the prime regions of the city in which it is situated. It has operations in more than 100 countries, and thus, it can be referred to as one of the perfect examples of a multinational corporation. In fact, it is among the most popular MNCs.
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explain why, though blessed with bountiful natural resources, the appalachian south as yet has not fully reached economic viability. how has this affected the cuisine?
Ninety-nine percent of the people who live in the Appalachians no longer own more than half of the land since many of them sold their rights to the land and minerals to major businesses.
Though blessed with bountiful natural resources, the Appalachian south as yet has not fully reached economic viability.
What issues did people in Appalachia encounter?
Over 25 million people live in the thirteen states that make up the Appalachian Mountains in the Eastern United States. Rural poverty issues such as social inequality, unemployment, a lack of social services, inadequate education, and underdeveloped infrastructure are prevalent throughout Appalachia.
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What are the benefits of citizens?
Numerous amazing open doors are accessible just to U.S. residents. The method involved with turning into a U.S. citizen is long, complex, and possibly expensive, regardless of whether you have been a legitimate super durable occupant on favorable terms for quite some time.
A portion of these advantages and empowering citizenship-qualified lawful permanent residents (LPRs) to move toward becoming U.S. residents are -
Right to Government ParticipationRight to TravelRight to Public BenefitsBringing Family Members to the U.S.Protection from deportationAbility to voteIn this sense, citizenship values relate to having a place and being faithful to one's country, as well as all convictions and ways of behaving engaged with the presentation of obligations, freedoms, social cooperation, and public qualities.
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When renting an apartment, in addition to the first month's rent, the amount to move-in often requires the last month's rent as well as a security deposit. the rent is $725 per month and the security deposit is $900. how much money must be paid to the apartment management to be able to live in the apartment the first year? assume that the renters moved out at the end of the first year. a. $9,425 b. $9,600 c. $10,325 d. $11,050 please select the best answer from the choices provided a b c d
When renting an apartment, you will often need the previous month's rent and a move-in security deposit in addition to the first month's rent. The rent is $725/month and the security deposit is $900. the amount of money must be paid to the apartment management to be able to live in the apartment the first year $9600.
The amount of money must be paid can be calculate as follows:
Advance payment of first month's rent:
$725
Advance rent for the previous month:
$725
deposit:
$900
To live for one year, you have to pay the rent for the remaining months.
12-2 =10 months
months rent: 10 x 725 =$7250
In total, we have:
725+725+7250+900 =$9600
So, for her first year living in an apartment, we must pay the housing authority her $9,600.
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a strong security program begins by assessing the backgrounds of the employees in the organization. t or f
True, a sound security program should begin by assessing the background of incoming employees.
What is a safety program?Within a company a safety program is a set of methods which aim to prevent all risky situations that may cause harm to workers and that may hinder the work.
The safety program in turn is responsible for protecting the physical and mental integrity of workers.
A sound workplace safety program begins by evaluating the background of the organization's employees, in order to recognize the bona fides of each employee, which is important to the company.
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a transient customer is a consumer who: select one: a. visits the store while on vacation. b. routinely shops multiple stores looking for the best price. c. actively seeks an alternative store that offers the level of customer service he/she feels is appropriate. d. shops multiple stores because he/she prefers is indecisive. e. visits another store only when his/her regular store is closed.
A transient customer is a consumer who: select one that c. actively seeks an alternative store that offers the level of customer service he/she feels is appropriate.
What is a transient customer?Transient customer means a customer who is temporarily traveling through a dealer's area of sales responsibility.
It should be noted that the “Transient guest” can as well be regarded as the person who occupies a room in a hotel, motel or tourist court for less than thirty (30) consecutive days hence transient customer is a consumer who dont stay long on a project.
Therefore, option C is correct.
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frictional unemployment: a. is unemployment that occurs as a result of a downturn in the economy. b. is short-term unemployment associated with individuals who are not working while seeking their first job or changing jobs. c. occurs when the jobs that are available require skills that do not match the skills possessed by those seeking jobs. d. is the only type of unemployment that makes a person eligible for unemployment benefits.
Frictional unemployment is short-term unemployment associated with individuals who are not working while seeking their first job or changing jobs. The correct answer is B.
In the economy, frictional unemployment is brought on by employees or persons changing jobs. This might happen when a person relocates, quits their present job in search of something better, or looks for a job that matches their new abilities, experience, or education. Because of this, this kind of unemployment is not related to the growth of the economy but rather to individuals' choice changes in their lives and jobs. As a result, frictional unemployment happens inherently even in markets that are stable or expanding.
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Gilliam industries records revenue of $6.4 million for an accounting period. in that same accounting period, they have a beginning balance of $392,000 and an ending balance of $439,000 in the accounts receivable account. how should the cash flows from operating activities be adjusted to account for these items? why? assume gilliam uses the indirect method.
Using the indirect method, Gilliam will only have to adjust for the change in Accounts Receivable, resulting in a $47,000 decrease in cash flows from operating activities.
Now, According to the question:
Using this formula to find the change in account receivable
Change in account receivable = Beginning balance - Ending balance
Change in account receivable = $392,000 − $439,000
Change in account receivable = -$47,000
When using the indirect method to calculate cash flow from operating activities, the net income amount have to be adjusted for operating items that tend to have effect on net income only.
Based on the information given Gilliam will have have to adjust for the change in Accounts Receivable, leading to $47,000 decrease in cash flows from operating activities.
Therefore the company will have have to adjust for the change in Accounts Receivable.
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which possible conclusion is supported by the dashboard concerning avantgarde ability to repay a loan if granted?
The inference that may be made is that the bank should give the loan some thought given that the debt ratio has consistently decreased since the last loan application.
Lenders anticipate that borrowers who take out loans will eventually be able to pay them back. For the period of time between the time a loan was granted and the time it was fully repaid, interest rates are assessed according to a predetermined rate and schedule. The most common way to express interest is as an annual percentage rate (APR).
When faced with financial hardship, some borrowers may seek bankruptcy protection. However, prior to filing for bankruptcy, borrowers should exhaust all other options. (A borrower's future capacity to get finance may be impacted by bankruptcy.) Earning more money, refinancing, seeking assistance through assistance programs, and negotiating with creditors are all alternatives to declaring bankruptcy.
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consider a hypothetical used car market in which fifty percent of the cars for sale are low-quality cars and fifty percent of the cars for sale are high-quality cars. buyers know that half of the cars are high quality and half are low quality, but they do not know which individual cars are high quality and low quality. sellers know whether their cars are high quality or low quality. buyers would be willing to pay at most $2,000 for a low-quality car and at most $8,000 for a high-quality car. sellers of low-quality cars have a willingness to sell of $1,500. sellers of high-quality cars have a willingness to sell of $7,000. which of the following statements is true? it is efficient for the plums to be sold but not the lemons. buyers will never buy lemons. the price of a used car will be no more than $2,000. the price of a used car will be no more than $7,000. multiple choice
The average value will drop to $3000, which is a bad used car's actual value, as good used automobiles are removed from the market. A detailed explanation with the answer is provided below:
Given that there are equally as many good cars worth $2,000 and bad cars for $8,000, the average value of the secondhand car is as follows:
Average value= ½*2000+½*8000 = 5000
The value of the defective vehicle is $3000 less than the typical used-car market value of a vehicle (=$5000-$2000). Therefore, the average value is $3000 higher than the value of a terrible car.
A good car is worth $4000 more than the typical used-car market price for a car (=8000-$5000).
A well-used automobile vendor would not agree to a lower purchase price since they are aware of the car's value. Since the typical used car is about $3000 less than what a decent used car is worth. The seller won't take part in any business dealings.
The car is a bad used car if a buyer can haggle and persuade a seller to sell it for the same amount as the average value of the car ($2000).
A poorly maintained automobile owner will be pleased to receive a higher price (compared to $3000), whereas a well-used car owner will find the lesser payment (compared to $8000) unacceptable.
The market will be flooded with lemons since the majority of decent used-car owners won't be prepared to accept a lower price for their good vehicles (bad used cars). Owners of poorly maintained vehicles will be more than happy to sell their vehicles for the going rate.
As good used cars leave the market, the average value will fall to $3000, which is the actual value of a terrible used car.
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the rights under a contract for personal services can normally be assigned a. if the contract is executory. b. under no circumstances. c. if all that remains on the deal is a payment of money. d. if the personal services are unique to the party rendering them
The rights under a contract for personal services can normally be assigned if all that remains on the deal is a payment of money.(Option C)
What conditions must a personal service contract meet legally?The employer-employee connection it establishes between the Government and the contractor's staff is what defines a personal services contract. Normally, the government must hire all of its personnel by direct employment, competitive appointment, or other means mandated by civil service regulations.
How do you tell if a right can be reassigned?The assignor may assign any right, unless the assignment would: materially alter the obligations of the obligee, materially burden the obligee, materially raise his risk or dramatically reduce the value of the original contract to the obligee.
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the government agrees to reimburse all factories that purchase new, emissions-reducing technology in order to provide cleaner air.
Externality and remedies through controlling social behaviour.
What does an economic externality mean?The decisions made by individuals, households, and enterprises about their consumption, manufacturing, and investment activities usually have an effect on others who are not directly involved in the transactions.These incidental impacts can occasionally be slight. However, when they are significant, or what economists refer to as externalities, they can cause issues.
What kind of externality is this, exactly?Light pollution is an example of an externality since people who utilise street lighting have an impact on people who are passing by that is not offset by them.
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suppose the 2022 adidas financial statements contain the following selected data (in millions). current assets total assets current liabilities total liabilities cash $4,485 8,875 2,836 5,099 775 interest expense $169 income taxes net income 113 245 compute the following values. $ (a) working capital. (b) current ratio. (round to 2 decimal places, e.g. 6.25:1.) (c) debt to assets ratio. (round to o decimal places, e.g. 62%.) (d) times interest earned. (round to 2 decimal places, e.g. 6.25.)
The computation of the following financial ratios is as follows:
a) Working capital = $1,640
b) Current ratio = 1.58:1
c) Debt to assets ratio = 57%
d) Times interest earned = 2.12 times.
What are financial ratios?Financial ratios are accounting methods for comparing the magnitude of one financial statement element to another.
Financial ratios help in evaluating financial performance and comparing numerical relationships between components of an entity's financial statements and across companies and industries.
Addidas Financial Statements' selected data (in millions):
Current assets = $4,485
Total assets = $8,875
Current liabilities = $2,836
Total liabilities = $5,099
Cash = $775
Interest expense = $169
Income taxes = $113
Net income = $245
a) Working capital = Current assets - Current liabilities
= $1,640 ($4,485 - $2,836)
b) Current ratio = Current assets/Current liabilities
= 1.58:1 ($4,485/$2,836)
c) Debt to assets ratio = Total Debts/Total Assets
= 57% ($5,099/$8,875 x 100)
d) Times interest earned = Income before tax/Interest Expense
= 2.12 times ($358/$169)
Income before tax = Net income + Income tax
= $358 ($245 + $113)
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a. is unemployment that occurs as a result of a downturn in the economy. b. is short-term unemployment associated with individuals who are not working while seeking their first job or changing jobs. c. occurs when the jobs that are available require skills that do not match the skills possessed by those seeking jobs. d. is the only type of unemployment that makes a person eligible for unemployment benefits.
Unemployment insurance is not intended to cover all unemployed workers, and it excludes those who willingly leave their jobs.
How high is unemployment in New York?By January 3, 2022, the minimum benefit rate will be $116. Please visit www.labor.ny.gov/uihandbook to access the claimant handbook for more details and further examples of the information in this fact sheet.
What would a fair definition of unemployment insurance be?Workers who are jobless due to no fault of their own, capable, accessible, and actively looking for work as directed, receive financial aid under the UI program. Benefit eligibility requirements are established by law.
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suppose that a government has had several years of general-fund surpluses. is this necessarily a sign of fnancial strength?
A government's fiscal health cannot be determined by looking solely at its general fund. As a result, general fund surpluses do not constitute a guarantee of fiscal stability.
What do you mean by fund surplus?
The monies left over after a mortgage has been paid off through the final verdict of a foreclosure auction are known as surplus funds, also known as overage or excess funds.The surplus account shows a company's net assets over all liabilities, including its capital stock.An item or resource that has more than is currently being used is said to have a surplus. A surplus can relate to a wide range of things, including money, goods, capital, and profits. A surplus in the context of inventories refers to items that are still on store shelves but have not yet been purchased.To know more about Surplus here
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if diamond, a corporate recruiter, wants to selectively recruit passive job candidates, she should utilize the linkedin social media network.a. trueb. false
Note that it is TRUE to state that if diamond, a corporate recruiter, wants to selectively recruit passive job candidates, she should utilize the LinkedIn social media network.
What is the value of LinkedIn Social Media Network?Individuals may use LinkedIn to manage their careers, discover jobs, study businesses, connect with business connections, and stay up to date on industry news. LinkedIn was often used by salespeople to generate leads and create relationships with future clients.
LinkedIn's aim is straightforward: to connect the world's professionals in order to make them more productive and successful. LinkedIn was founded in 2002 in co-founder Reid Hoffman's homeroom and formally debuted on May 5, 2003.
A corporate recruiter is in charge of filling available vacancies for a company. They manage the process from discovering potential applicants through various channels such as social media or resume banks to interviewing and providing opportunities to eligible candidates.
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once a firm in monopolistic competition has determined how much to produce, the firm determines its price by referring to its:
In monopolistic competition, once a corporation has decided how much to produce, it calculates its price by using its demand curve.
When several companies offer rival goods or services that are similar but fall short of ideal replacements, monopolistic competition results.
In monopolistic competitive industries, entry barriers are low and decisions made by one firm do not directly affect those of its competitors. Competing businesses distinguish themselves through their pricing and marketing strategies.
In an ideal market, all vendors provide the same product. If one rival raises its price, it would lose all of its market shares to the other firms, in accordance with market supply and demand factors, where prices are not set by businesses and sellers accept the pricing created by market activity.
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