Supplier Credit refers to when the supplier or vendor of a business or company allows a customer to buy products or services on credit for a specified period.
The role of Supplier Credit in non-equity funding of a business is to help businesses obtain capital to fund their operations. When a business can’t get a loan from a financial institution, they can approach their supplier to provide them with credit to buy products and services required to run their business.The major benefit of supplier credit is that it does not require collateral or equity shares, and businesses are able to negotiate credit terms. On the other hand, Crowdfunding is the process of raising funds for a business venture or project by raising small amounts of money from a large number of people over the internet. Crowdfunding has become a popular method of financing a potential business due to the emergence of social media and other digital platforms.
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Which of the following actions by management might cause operating depts to overuse a support dept (select all that apply)?
Allocating support dept costs based on operating dept actual use
Allocating operating dept cost based on supporting dept actual use
Allocating a pre-determined fixed amount of support dept costs to operating depts
Allocating support dept costs based on operating dept budgeted use
Give 2 reasons why a manager would not be happy about the company's decision to allocate support dept cost using actual costs rather than budged cost.
Actions by management that might cause operating depts to overuse a support dept include allocating a pre-determined fixed amount of support dept costs to operating depts and allocating support dept costs based on operating dept budgeted use.
Allocating operating dept cost based on supporting dept actual use is not an action that can cause operating depts to overuse a support dept. However, Allocating support dept costs based on operating dept actual use is also an action that could cause operating depts to overuse a support dept.
Two reasons why a manager would not be happy about the company's decision to allocate support dept cost using actual costs rather than budgeted costs are as follows:
1. Unpredictability: The manager may feel unhappy with the decision of allocating support dept costs using actual costs rather than budgeted costs due to unpredictability. This is because the actual cost of using support departments may fluctuate during the year and become difficult to predict.
2. Complexity: The manager may feel unhappy with the decision of allocating support dept costs using actual costs rather than budgeted costs due to complexity. This is because the actual cost of using support departments may be more complex than using budgeted costs.
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Question 20 3 pts If the short-run aggregate supply curve shifts to the left GDP will increase and the price level will decrease GDP and the price level will both decrease GDP will decrease and the price level will increase GDP and the price level will increase
If the short-run aggregate supply curve shifts to the left, GDP will decrease and the price level will increase. This is because a shift to the left means that the economy's potential output has decreased, which in turn causes output to fall and prices to rise. Let's look at this concept in more detail.
Aggregate supply (AS) represents the total amount of goods and services that firms are willing and able to produce at a given price level. before. This is usually caused by a decrease in the availability or productivity of inputs, such as labor or capital.
If the SRAS curve shifts to the left, GDP will decrease because firms are producing less output. At the same time, the price level will increase because the decrease in supply has made goods and services more scarce, causing prices to rise.
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After explaining the concept of Balance of Payments and its components briefly, draw the graph of major components (balances)of Canada and Turkey respectively since 2000 (be careful with the signs and remember that they sum to zero due to the Balance or Payment identity).
Describe them briefly, emphasising their levels, sign, evolutions, volatility, and possible reversals. (What happened to the Net Investment Position of these two countries over the past 5 years? How is this linked to the current account in these particular countries?)
Please remember give me reference because I want to check it
Balance of Payments (BOP) is a statement that summarizes an economy's transactions with the rest of the world for a particular period.
The BOP is divided into three sub-accounts: current account, capital account, and financial account. The current account represents a country's net trade in goods and services, while the capital account represents the transfer of capital between countries.
The financial account represents a country's net acquisition of assets from the rest of the world and is equal to the change in the country's net foreign assets. The capital account and financial account balance out the current account since the three must sum to zero.
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The management of Academic Copy, a photocopying center located
on University Avenue, has compiled the following data to use in
preparing its budgeted balance sheet for next year:
|| ||Ending Balances
The administration of Mecca Duplicate, a copying place situated on College Road, the held procuring = 54400.
Mecca Copy
Budgeted Balance Sheet :
Assets
Current assets:
Cash 22300
Accounts receivable 10100
Supplies inventory 4600
Total current assets 37000
Plant and equipment:
Equipment 44000
Accumulated depreciation -17800
Plant and equipment, net 26200
Total assets 63200
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable 3800
Stockholders' equity:
Common stock 5000
Retained earnings 54400
Total stockholders' equity 59400
Total liabilities and stockholders' equity 6320
Retained earnings = 37000+21700-4300
= 54400
A monetary record is a budget summary that reports an organization's resources, liabilities, and investor value. One of the three fundamental financial statements used to evaluate a company is the balance sheet. It gives a preview of an organization's funds (what it possesses and owes) as of the date of distribution.
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Complete question as follows :
The management of Mecca Copy, a photocopying center located on University Avenue, has compiled the following data to use in preparing its budgeted balance sheet for next year:
Ending Balances
Cash ?
Accounts receivable $ 10,100
Supplies inventory $ 4,600
Equipment $ 44,000
Accumulated depreciation $ 17,800
Accounts payable $ 3,800
Common stock $ 5,000
Retained earnings ?
The beginning balance of retained earnings was $37,000, net income is budgeted to be $21,700, and dividends are budgeted to be $4,300.
Required:
Prepare the company’s budgeted balance sheet. (Amounts to be deducted should be indicated by a minus sign.)
Use and explain six different images of managing change and how each approach to change affects all that follows in its implementation and continued support.
Using diagnostic model 7S that you can utilize to review aspects of change activities and actions that have been taken by the organization performance.
An important part of any change project is how the change is communicated to the organization, to the change agents, to the line workers, to the customers, and to the public. Explain in your paper how the company handled communicating the change to its stakeholders.
Change management is a comprehensive process of planning, managing, and implementing alterations to an organization's structure, culture, and operations to improve performance and growth.
Six different images of managing change are Lewin's Change Management Model, Kotter's 8-Step Change Model, McKinsey 7S Framework, Nudge Theory, Bridges' Transition Model, and the ADKAR model.
Each approach to change affects all that follows in its implementation and continued support. Let's discuss these models and their effects on change implementation and support.1. Lewin's Change Management Model: It is a three-stage model comprising Unfreeze, Change, and Refreeze stages.
Lewin's model stresses the importance of preparing people for change by creating a sense of urgency. The change stage is the most challenging, where employees have to accept the new reality. Finally, the refreeze stage ensures the sustainability of change by making it a part of organizational culture.
2. Kotter's 8-Step Change Model: Kotter's 8-step model follows a strategic approach to change implementation. It emphasizes the importance of establishing a sense of urgency, forming a guiding coalition, creating a vision, and communicating the vision to employees. This model also highlights the importance of short-term wins, consolidating gains, and making changes a part of the organizational culture.
3. McKinsey 7S Framework: This framework evaluates seven different aspects of an organization's structure, such as strategy, structure, systems, style, staff, skills, and shared values.
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. Provide an example of a product/service that is price elastic. What could make it more inelastic? 2. Provide an example of a product/service that is price inelastic. What could make it more elastic?
1 Product/Service in Price Elastic: A product/service is price elastic when there is a large change in the quantity demanded when there is a small change in price. An example of a price elastic product/service is clothing.
A small change in price could make a huge difference in the quantity demanded. For example, if a pair of jeans is priced at $100 and the price increases to $110, customers may decide to switch to a different brand or wait until the price comes down. One way to make clothing more inelastic is to make it a luxury item. This could be done by using high-quality materials, creating a brand identity, or having limited editions.
2. Product/Service in Price inelastic:A product/service is price inelastic when there is a small change in the quantity demanded when there is a large change in price. An example of a price inelastic product/service is gasoline. Even if the price of gasoline increases by a lot, people still need to buy it to get to work or school. This means that the quantity demanded does not change as much with price changes. One way to make gasoline more elastic is to offer an alternative form of transportation.
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signment: Chapter 02 Using Financial Statements and Budgets Swip and lackie Garcia have been mamed for over two years. They have been trying to save for a down payment on a house, but they feel that there is never anything left over to save. They talked with their parents who suggested that they prepare an income and expense statement. Skip and Jacke put together the following worksheet The following is soene additional infermation. - For income tems, they knew yearly amounts. For expenses, in soene cases they knew the annal amount (for example, jackie's commiter train pass). They listed those amousts and noted them as such. - Unfortunately, for other expenses, they provided tast month's payment, stating that the amount diant change much from month to monthi. - Based an their enpioyonprovided health insurance, they incur a ceoay of 335 per visit. They ectimated that they savin doctor (combined) 7 times during the year. - lackle nstumated that she spends about $175 a month on cothing and $200 a moren en groceries. - They went en a worwegian Grulse trip that cost 32,200 . They took an addalenal 8500 in spend no money that was their enly vacaton. signment Chapter 02 Using Financial Statements and Budgets Prepare an annual income and expense statement for the Garcias as of December 31 . Round all dollar amounts to the nearest whole dofar, and do not include an item in another category if a category aiready exists for it. If an item does not reguine a baiance, be sure to insert a zero to avold a loss of crei. manta Fhantae os theinm Cinanrial Cratemante and Pisdeate
An annual income and expense statement is used to track how much you've earned and how much you've spent in the last year. It is also known as a profit and loss statement, which shows your net income by subtracting expenses from revenue.
What are the steps?To prepare an annual income and expense statement for the Garcias as of December 31, follow the steps below:
Step 1: Add up the total income and expenses
Add up all the income and expenses listed in the worksheet. Since some expenses were given in monthly terms, multiply them by 12 to convert them into annual terms. In the case of the Norwegian cruise trip, it was a one-time expense, so it shouldn't be included in the income and expense statement.
Therefore, the total income and expenses are as follows:
Total Income: $67,000
Total Expenses: $60,235
Step 2: Calculate net income
Net income is the difference between total income and total expenses.
Therefore, the net income of the Garcias as of December 31 is as follows:
Net Income = Total Income - Total Expenses
Net Income = $67,000 - $60,235
Net Income = $6,765
Step 3: Prepare the income and expense statement
The income and expense statement is a summary of the total income, expenses, and net income. Therefore, the income and expense statement for the Garcias as of December 31 is as follows:
Income and Expense Statement for the Garcias as of December 31, 2021
Income Salary and Wages: $65,000
Rental Income: $2,000
Total Income: $67,000
Expenses Mortgage: $17,500
Utilities: $6,000
Transportation: $7,000
Food: $4,800
Clothing: $2,100
Health Care: $2,345
Entertainment: $1,500
Miscellaneous: $19,990
Total Expenses: $60,235
Net Income: $6,765.
Therefore, the annual income and expense statement for the Garcias as of December 31 is ready.
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Jude loved Sue and so he married her. Unfortunately, he neglected to tell her that he was already married to Arabella. Is this a valid marriage? Does Sue have any property or support rights against Jude? Does Jude have any property or support rights against Sue? Discuss
Jude's marriage to Sue is not valid since he was already married to Arabella. The principle of bigamy is also against the law and therefore Jude is liable to be charged and arrested.
In addition, since the marriage is not legally valid, Sue is not entitled to any property or support rights from Jude.In terms of Jude's property and support rights against Sue, that would depend on the laws of their country or state.
In some places, if a couple lives together for a certain amount of time and presents themselves as married, they may be considered common-law spouses and therefore have certain rights.
However, if their relationship is not considered a common-law marriage, Jude may not have any property or support rights against Sue either. It is important to note that the laws surrounding common-law marriage can vary widely between different jurisdictions.
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which of the following is true? multiple choice a monopolist always earns an economic profit. a monopolist produces on the inelastic portion of its demand. in the short run, a monopoly will shut down if p < avc. the more inelastic the demand, the closer marginal revenue is to price.
In the short run, a monopoly will shut down if p < avc. Thus, option C is the correct option.
In the short run, a monopoly will shut down if the price (p) falls below the average variable cost (AVC). This condition indicates that the monopoly is unable to cover its variable costs with the revenue generated from selling its products.
When the price is lower than the average variable cost, each unit sold contributes less to cover the variable costs associated with production. As a result, the firm incurs losses on each unit produced and sold. If the losses become too substantial, it becomes economically favorable for the monopoly to shut down operations temporarily and minimize its losses.
By shutting down, the monopoly avoids incurring further variable costs and can potentially reassess its pricing and production strategies in hopes of achieving profitability in the long run.
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how interest rate impact the spending of the consumer in
australia in current situation?
Answer:
Interest rate rises result in a decrease of a household's disposable income. Those families with investment properties may be looking to sell their investment properties as repayments become too costly and simply cannot be afforded. This will be critical for investors currently on fixed loans whose term expires soon
FILL IN THE BLANK. a(n)___is used to give background information about an organization, product, or service, whereas a(n)___is used primarily to sell a product or service.
A(n) brochure is used to give background information about an organization, product, or service, whereas a(n) advertisement is used primarily to sell a product or service.
Brochure refers to a printed or digital document that provides detailed information and background about an organization, product, or service. Brochures are designed to educate and inform the reader, offering a comprehensive overview of features, benefits, and key details.
They serve as a marketing tool to create awareness and generate interest. Brochures often include visuals, descriptions, specifications, and contact information.
By presenting a holistic view, brochures aim to convey a deeper understanding of the subject matter.
They are commonly used in trade shows, meetings, or as handouts to potential customers or clients.
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A new computer virus (AcctBGone) destroyed most of the company records at BackupsRntUs. The computer experts at the company could recover only a few fragments of the company's factory ledger for March as follows. Further investigation and reconstruction from other sources yielded the following additional information: - The controller remembers clearly that actual manufacturing overhead costs are recorded at $18 per direct labor-hour. (The company assigns actual overhead to Work-in-Process Inventory.) - The production superintendent's cost sheets showed only one job in Work-in-Process Inventory on March 31. Materials of $15,800 had been added to the job, and 320 direct labor-hours had been expended at $37 per hour. - The Accounts Payable are for direct materials purchases only, according to the accounts payable clerk. He clearly remembers that the balance in the account was $36,700 on March 1. An analysis of canceled checks (kept in the treasurer's office) shows that payments of $252,300 were made to suppliers during the month. - The payroll ledger shows that 5,100 direct labor-hours were recorded for the month. The employment department has verified that there are no variations in pay rates among employees (this infuriated Steve Fung, who believed that his services were underpaid). - Records maintained in the finished goods warehouse indicate that the finished goods inventory totaled $108,000 on March 1. - The cost of goods manufactured in March was $564,700. Required: Determine the following amounts: a. Work-in-process inventory, March 31. b. Direct materials purchased during March. c. Actual manufacturing overhead incurred during March. d. Cost of goods sold for March.
a. Work-in-process inventory on March 31 = $27,640
b. Direct materials purchased during March = $289,000
c. Actual manufacturing overhead incurred during March = $91,800
d. Cost of goods sold for March = $564,700
a. Work-in-process inventory on March 31 Materials $15,800
Direct labor cost = 320 hours × $37 = $11,840,
Total = $27,640
b. Direct materials purchased during March.Balance, March 1 $36,700
Add: purchases $252,300,
Total = $289,000
c. Actual manufacturing overhead incurred during March.Direct labor cost $18 per direct labor hour = $91,800
d. Cost of goods sold for March:Direct materials used: Beginning inventory $36,700
Add:
Purchases 252,300 ,
Total = $289,000,
Ending inventory (Cost of finished goods in ending inventory) 108,000,
Direct materials used (cost of goods manufactured) $181,000 ,
Direct labor cost 320 hours × $37 per hour $11,840 ,
Manufacturing overhead (18 per direct labor-hour × 5,100 direct labor-hours) $91,800 ,
Total manufacturing costs $284,640 ,
Cost of goods sold: Beginning finished goods inventory $108,000 ,
Add:
Cost of goods manufactured 564,700
Goods available for sale $672,700 ,
Ending finished goods inventory (108,000)
Cost of goods sold $564,700
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Imagine a firm sells its product to consumers in two states, Wisconsin and lowa. Wishing to practice third degree price discrimination, this firm estimates the price elasticity of demand for its product in Wisconsin is −2, while in Iowa the price elasticity is −3. Accordingly, the firm should charge a higher price to consumers in Wisconsin. A. True B. False [24] Effectively impeded entry occurs when the incumbent does not have to sacrifice any profit to deter entry. A. True B. False [25] Which of the following are strategic entry deterrents? A. engaging in price arbitrage B. setting long retaliatory lags C. differentiating your product D. All of the above [26] In the case of dynamic limit pricing, an incumbent gradually lowers price over time in an effort to reduce the rate of entry. A. True B. False
True Effectively impeded entry occurs when the incumbent does not have to sacrifice any profit to deter entry. Hence the given statement is True.
All of the above Strategic entry deterrents are the defensive moves that incumbents use to prevent the entry of new firms. Different strategies are used by incumbents to deter potential entrants. These strategies are known as entry deterrent strategies or strategic entry deterrents.
These strategies include the following, engaging in price arbitrage Setting long retaliatory lags. Differentiating your product. Therefore, the given option D is correct that is "All of the above" as all these options are entry deterrent strategies False. In the case of dynamic limit pricing, the incumbent gradually lowers the price over time to increase the rate of entry, not to reduce the rate of entry. Hence, the given statement is false.
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Suppose you sell a fixed asset for $80,000 when its book value is $120,000. If your company's marginal tax rate is 35 percent, what will be the effect on cash flows of this sale (i.e., what will be the after-tax cash flow of this sale)? Select one: a. $66,000 b. $94,000 c. $54,000 d. $106,000
Suppose a fixed asset is sold for $80,000 when the book value is $120,000, and the company's marginal tax rate is 35 percent.
What will be the effect on cash flows of this sale (i.e., what will be the after-tax cash flow of this sale)?The answer is d. $106,000.How to calculate the after-tax cash flow of this sale?The gain or loss on the sale will be the difference between the sale price and the book value. The gain or loss on the sale, in this case, will be a loss of $40,000 ($80,000 – $120,000).For tax purposes, the gain or loss on the sale will be reduced by any depreciation recapture, which is the amount of depreciation taken on the asset that exceeds the depreciation that would have been taken using the straight-line method. It is because the asset was sold for less than its book value. The book value of the asset in this situation is $120,000, and the straight-line depreciation of the asset over its life is $100,000. As a result, the depreciation recapture is $20,000 ($120,000 - $100,000).So, the taxable gain or loss on the sale is $20,000 ($40,000 - $20,000). Since the marginal tax rate is 35 percent, the tax paid on the gain will be $7,000 ($20,000 × 35 percent).The after-tax cash inflow from the sale would be the sale price ($80,000) plus the tax savings ($7,000) or $87,000. Hence, the option d. $106,000 is the correct answer.
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A business should refrain custom development of software applications when ______.Question options:A)
oly offshore contract programming companies are capable of developing the software
B)
ore than 75% of the functionality require by the organization is provided by commercial-off-the-shelf (COTS) software products
C)open source versions of software applications are availableD)
All of the above
A business should refrain custom development of software applications when more than 75% of the functionality required by the organization is provided by commercial-off-the-shelf (COTS) software products.
When more than 75% of the required functionality can be fulfilled by existing commercial-off-the-shelf (COTS) software products, it is generally advisable for a business to refrain from custom development of software applications.
COTS software products are pre-built, commercially available software solutions that are developed and maintained by third-party vendors. They often offer a wide range of functionalities and are designed to meet the needs of various industries and organizations.
By utilizing COTS software products, businesses can save time and resources that would otherwise be spent on custom development.
These products are often well-established, tested, and supported by the vendor, providing a reliable solution for the majority of the required functionalities.
Custom development should be reserved for cases where unique or specialized requirements cannot be adequately addressed by existing COTS solutions.
Options A and C are not universally applicable reasons to refrain from custom development.
The capability of offshore contract programming companies or the availability of open-source versions of software applications may not be the sole determining factors in deciding whether to pursue custom development.
Therefore, the most appropriate reason to refrain from custom development in this scenario is when more than 75% of the required functionality is already provided by commercial-off-the-shelf (COTS) software products, as stated in option B.
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ommitted costs need to be treated in a special way so that the system
a. audits the amounts assigned.
b. enters the amount of the cost one time at the beginning of the project.
c. enters the amount of the cost one time at the end of the project.
d. periodically assigns a portion of their total cost to actual cost.
Entering the amount of the cost one time at the end of the project. Omitted costs are costs that are not directly allocated or assigned to a specific project or activity.
These costs are usually indirect costs that are shared among multiple projects or activities. To treat omitted costs in a special way, it is common to enter the amount of the cost one time at the end of the project. This ensures that the project's financial records reflect the actual cost incurred, and it helps in determining the project's profitability and overall performance.
Entering the amount of the cost one time at the beginning of the project (option b) may not be appropriate because omitted costs can vary over time and may not be known upfront. Periodically assigning a portion of their total cost to actual cost (option d) is not the most effective approach for omitted costs because it may not capture the accurate cost incurred throughout the project. It's important to note that omitted costs should be identified and allocated properly to ensure accurate financial reporting.
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One of the items on the menu in the Downtown Restaurant is chopped steak. Each of the newly hired and fully trained cooks has his or her own idea about what a chopped steak is, and each prepares it differently. Which of the following four steps in the control process would be the final step of eliminating this problem? Select one: a. Train to follow standards b. Establish standards c. Correct deviations between standards and actual results d. Compare actual results with standards
The final step of eliminating the problem of the newly hired and fully trained cooks having different ideas about what a chopped steak is and preparing it differently would be to compare actual results with standards.
Control is an important step in the management process that ensures that actual activities conform to the company's objectives. The control function serves as the source of feedback to adapt and change the organization's processes to achieve its goals. Control mechanisms help to align the actual performance with the predetermined standard. Control, therefore, has to do with ensuring that the plans made are executed well, and that deviations are corrected promptly. There are four steps in the control process that we need to know: Establish standards Train to follow standards Compare actual results with standards Correct deviations between standards and actual results. To conclude, comparing actual results with standards would be the final step of eliminating this problem of the newly hired and fully trained cooks having different ideas about what a chopped steak is and preparing it differently.
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Bonita Industries budgets on an annual basis for its fiscal year. The following beginning and ending inventory levels are planned for the fiscal year of July 1, 2021 to June 30, 2022: Three kilos of raw materials are needed to produce each unit of finished product. If Bonita Industries plans to produce 570000 units during the 2021-2022 fiscal year, how many kilos of materials will the company need to purchase for its production during the year? 1709000 1711000 1710000 1714000
Answer: 1710000
Given below are the details of the inventory levels planned for the fiscal year by Bonita Industries:
Beginning inventory level (July 1, 2021): 8000 units
Ending inventory level (June 30, 2022): 10000 units
Raw materials required for producing 1 unit of finished product: 3 kilos
Number of units of finished product to be produced during the fiscal year: 570000 units
We are to determine the amount of raw materials that Bonita Industries will need to purchase for its production during the year.
To find the answer, we can use the following formula:
Amount of raw materials required = Raw materials required per unit × Number of units produced during the year
We are given that 3 kilos of raw materials are needed to produce each unit of finished product, and the number of units to be produced during the fiscal year is 570000.
Thus Amount of raw materials required = 3 kilos/unit × 570000 units= 1710000 kilos
Therefore, Bonita Industries will need to purchase 1710000 kilos of raw materials for its production during the 2021-2022 fiscal year.
Answer: 1710000.
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The rulers encouraged increased production of goods in the cities and on farms. The taxes on manufactured and agricultural goods made the kings wealthy. Huge cities grew up. A uniform system of trade developed. A form of Greek became the common language. The kingdoms continued producing standard coins.
The Hellenistic region linked economically and the rulers encouraged increased production of goods in the cities and on farms. The taxes on manufactured and agricultural goods made the kings wealthy. Huge cities grew up. A uniform system of trade developed. A form of Greek became the common language. The kingdoms continued producing standard coins.
The increase of slavery and the expansion of the merchant elite were the two most significant economic changes that occurred throughout the Hellenistic period. The merchant class continued to expand and sustain the economy since the Greek economy throughout the Hellenistic era was highly dependent on international commerce.
The fundamentals of the Macedonian economy in the Hellenistic era remained similar to those of the Classical era: iron, copper, and other exportable goods including lumber, resin, pitch, hemp, and flax were still supported by agriculture and livestock rearing.
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Your question seems to be incomplete, but most probably the complete question was:
How was the Hellenistic region linked economically?
KE2-1 How Can Business Process Modelling Help Organization? Answer the following questions.
(a). Summaries Best Bikes Business operations. (b). Define business processes and give three examples. (25 marks – 400-500 words)
(a). Define BPMN, swimlane format, activity, role, actor, repository, data flow, sequence flow, and subprocess. (b). Describe the BPMN symbol used for each. (25 marks – 400-500 words)
Review figure KE2-1 and ensure you can explain how this business process works. (20 marks – 300-400 words)
Explain the difference between the processes in figures KE2-1 and KE2-3 and relate those differences to the 3D printing opportunity. (20 marks – 300-400 words)
Business process modeling is a tool that is used in the documentation and analysis of business processes. Business process modeling can help an organization by identifying bottlenecks in the process, identifying inefficiencies, and streamlining processes to increase efficiency and productivity.
It can also help with the automation of processes and the implementation of technology to support business processes. This article will discuss the Best Bikes business operations, define business processes, BPMN, and its symbols, explain how business process KE2-1 works, and compare the differences between KE2-1 and KE2-3
Best Bikes is a small company that manufactures and sells bicycles and bicycle parts. They operate out of a single factory and have two retail stores. They also have an online store that allows customers to purchase products directly from the company.
A business process is a set of activities that are performed in order to achieve a specific goal. Examples of business processes include:1. Order Processing: This process involves receiving orders from customers, verifying the details of the order, and then fulfilling the order by shipping the product to the customer.
2. Inventory Management: This process involves tracking inventory levels, forecasting demand, and ordering new inventory as needed.3. Customer Service: This process involves handling customer inquiries, complaints, and returns.a. BPMN, Swimlane Format, Activity, Role, Actor, Repository, Data Flow, Sequence Flow, and Subprocess:
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Step 1 of 3
Implicit costs are those cost which are indirect by nature and even though they have financial implications still they are not recorded in expenses.
Step 2 of 3
a.
The company was producing 62 million tons of greenhouse gases annually. Total emission reduction per year is:
So, to reduce 3.1 million tons of greenhouse gases, $1.2 billion or 1200 million was spent. So, the implicit cost of every ton of greenhouse gas is calculated as follows:
Thus, the implicit cost of every ton of greenhouse gas is.
Step 3 of 3
b.
Total emission reduction per year is:
So, to reduce 90 million tons of greenhouse gases, total capital required is :
Thus, the capital needed to reduce greenhouse gas by 3% is .
In economics, an implicit cost is the opportunity cost equivalent to what a business must give up to use a piece of production that the company already owns and is not therefore subject to rental payments. Implicit costs are also referred to as imputed costs, implied costs, and notional costs. It contrasts with an explicit expense, which is paid for upfront.
Any cost that has already been incurred but is not expressly stated or recognized as a distinct expense is considered an implicit cost. It illustrates the worth of the potential created when a company employs internal capital over a project without providing a specific payment for the resources used.
Implicit costs, also known simply as notional costs or implied costs, entail an organization's computation of what its company would have made if it had employed the resource for another use in addition to the commercial activity.
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The rules governing contingent fee arrangements do not permit a tax practitioner to charge a contingent fee for rendering:
a. Tax planning services
b. Payroll tax processing services
c. The preparation of a request for a refund of previously overpaid taxes
d. Taxpayer advocacy in an IRS administrative hearing
The rules governing contingent fee arrangements do not permit a tax practitioner to charge a contingent fee for rendering tax planning services.
Contingent fee arrangements refer to a fee structure where the payment to the tax practitioner is dependent on a specific outcome or result. These arrangements are generally prohibited for certain types of services in the field of taxation to maintain the integrity and objectivity of the tax system.
Tax planning services involve providing advice and assistance to taxpayers in optimizing their tax positions by utilizing legal strategies and provisions within the tax laws. Since tax planning services involve proactive and strategic advice, it is not permitted to charge a contingent fee for such services.
On the other hand, payroll tax processing services, the preparation of a request for a refund of previously overpaid taxes, and taxpayer advocacy in an IRS administrative hearing do not fall under the prohibition of contingent fee arrangements. Contingent fees can be charged for these types of services, as they do not involve the provision of tax planning advice.
It is important for tax practitioners to adhere to these rules and maintain ethical standards to ensure the proper functioning of the tax system and maintain the trust of their clients.
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Article 1 OII company profits boom as Americans reel from high fuel prices (September 16, 2022) The US's biggest oil companies have pumped out record profits over the last few months as Americans struggled to pay for gasoline, food and other basic necessities. US gas prices are now averaging $4.50 a gallon across the US, more than $1.50 a gallon higher than in 2020. With the pandemic in the rear view mirror, more motorists are again on the road. But the real factor behind the rise of gas prices is that fewer refineries are operating in the US than operated in 2020. So as Exxon and other major gas companies enjoy record profits, consumers get squeezed. 1A. Depict the market for gasoline in 2020. Label initial supply and demand and equilibrium quantity with the subscript " 1 " and set into the market actual price. 1B. Make changes that have occurred to the market for gasoline in 2022. Label new supply and/or demand and equilibrium price and quantity with the subscript "2" and set into the market the actual price. insulin at $35 a month. The average price of insulin, versions of which have been around since the 1920 s, have risen to about $550 a month, straining budgets for millions of households. The new law also extends by three years the expanded subsidies and other financial enhancements first included in the 2021 American Rescue Plan to help bring down the costs of health insurance plans in the ACA marketplace. 1C. Construct the market for insulin, assuming demand is perfectly inelastic. Label initial supply and demand and equilibrium quantity with the subscript "1". Set into the market the actual price. 1D. Return to the market in 1C, and change the market consistent with information in the article.
In 2020, people bought a lot of gasoline. Initial Demand (D1) means how much gas people want to buy at different prices in 2020.
What is the profits boom?As the price goes down, people want more of it. The amount of something that is sold at the starting price is called Q1 and the price for that amount is called P1.
The initial supply refers to how much gasoline suppliers can give at different prices in 2020. The line goes up, which means that if the price goes up, more things will be made to sell.
Equilibrium is the point where the demand and supply curves meet in a market. At this moment, the amount that people want to buy
.
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An insurance company sells policies in New York. It is incorporated in Germany. In New York, this insurance company is a(n): Domestic Insurer Neighboring Insurer Foreign Insurer Alien Insurer
When an insurance company sells policies in New York, but it is incorporated in Germany, it is referred to as a foreign insurer.
In the United States, each state has a different set of rules that apply to insurance providers. Foreign insurers are entities that are chartered in a state other than the one where the policy was issued.To be recognized in New York State, an out-of-state insurance company must get authorization from the New York State Insurance Department, which provides a certificate of authority.
This certificate permits the foreign insurance company to conduct business in New York State.An insurance company that operates only in its home state is known as a domestic insurer, while an insurer that operates in a state that borders its home state is known as a neighboring insurer.
An alien insurer, on the other hand, is a foreign insurer that isn't headquartered in the United States.
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The insurance company incorporated in Germany and operating in New York would be considered an Alien Insurer. Like all insurers, it gathers premiums from customers, priced on the probability of certain events happening, to provide financial protection for those customers.
Explanation:In business terms, an insurance company that is incorporated in a foreign country but operates and sells insurance policies in another country is referred to as an Alien Insurer. In this case, since the insurance company is incorporated in Germany and is selling insurance policies in New York, the company is considered an Alien Insurer.
Insurance companies, whether domestic or foreign, price premiums based on the probability of certain events happening among a pool of people. Those who purchase insurance make regular payments known as premiums. This method is commonly used by firms and households to prevent a significant financial effect from an event.
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Answer the following in as much detail as possible: 1. What is strategic management & strategy? 2. Why does strategic management matter? 3. What elements determine firm performance?
1. Strategic Management and Strategy: Strategic management is the process of defining the objectives, developing policies and plans to achieve them, and allocating resources to implement the policies and plans to achieve the organizational objectives. A strategy is an action plan that describes how a firm intends to compete in the market and achieve its objectives. It is a plan of action for accomplishing the organization’s objectives.
2. Importance of Strategic Management: Strategic management is important as it helps firms to define the objectives, develop policies and plans, allocate resources, and implement the policies and plans to achieve the organizational objectives. Strategic management helps firms to adapt to changes in the business environment and helps them to achieve long-term sustainable growth. It also helps firms to achieve a competitive advantage over their rivals and to improve their performance.
3. Elements Determining Firm Performance: Firm performance is determined by various elements such as the quality of management, the level of innovation, the quality of the products or services, the efficiency of operations, the level of customer satisfaction, the level of employee engagement, the level of financial performance, and the level of social responsibility. These elements are interdependent and affect each other. The quality of management affects the level of innovation, which affects the quality of the products or services, which affects the level of customer satisfaction, which affects the level of financial performance, which affects the level of social responsibility.
Thus, firms need to focus on improving all these elements to achieve sustainable long-term growth. The firms need to develop policies and plans to improve these elements and allocate resources to implement these policies and plans. Thus, strategic management plays a critical role in improving firm performance.
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Product Development Life Cycle????
(Introduction, growth, maturity, decline) Profit at each stage, Sales, Promotional Tool.
Difference between satisfaction delights, and brand love /emotional
What is the definition and benefits of green marketing
Product Development Life Cycle (PDLC) is a cycle that is followed by companies when they introduce new products into the market.
It comprises of four stages, namely;
introduction, growth, maturity, and decline.
During each stage, companies use different promotional tools to boost sales.
Here is a breakdown of each stage of PDLC:
Introduction:
In this stage, companies invest more in promotional tools than they earn in profits.
The sales of the product are low and only a few people know about it.
The profit margin is negative, meaning companies spend more than they earn.
Growth:
During the growth stage, the product becomes more popular, and the number of customers using it increases.
Companies still invest in promotional tools, but the profit margin starts to increase.
Sales of the product start to increase rapidly, and companies may invest in increasing production.
Maturity:
In this stage, the product reaches its peak, and sales growth slows down.
The number of new customers decreases, and companies may invest in retaining current customers.
As more companies embrace green marketing,
those that fail to adopt it lose out on market share.
Companies that use green marketing gain a competitive advantage,
which can lead to increased sales and profits.
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Which of the following best describes the primacy effect?
Question 3 options:
form and retain impressions quickly at initial meeting
initial information does not carry a lot of weight
first impressions represent 10% of what they know about you
later information is not ignored or reinterpreted based on initial framewor
The primacy effect refers to the tendency for people to form and retain impressions based on initial information or experiences.
The primacy effect refers to the tendency for people to form and retain impressions based on initial information or experiences. It suggests that the first information received about someone or something has a stronger impact and carries more weight in influencing subsequent judgments or perceptions. This means that initial impressions have a significant influence on how individuals interpret and evaluate later information or experiences. It does not necessarily imply that later information is ignored or reinterpreted based solely on the initial framework.
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Extensive distribution networks and concentrated sales strategies have been a major reason for the success of companies such as Asian Paints and Berger. Typically, these companies assess the external business environment to determine uncertainties, industry rivalry and market forces that impact the business potential of a market. To monitor and manage their overall performance, such companies tend to develop sales territories majorly based on geography and business potential.
As these territories are also interconnected via distribution channels, conflicts are bound to surface. Each channel member wants to maximise its output to earn the performance-based reward offered by the company. This internal competition is the primary reason for conflicts. But the dynamics and the complexities keep changing as other case-specific reasons surface.
In this case, a similar company has hired you to resolve their recently developed complex channel conflicts. In an existing distribution of paint products, there is a constant tussle between various distributors majorly based on the following domains:
Q1. Conflicts between distributors regarding territories and various discount formats offered
Q2. Conflicts between distributor and retailer regarding higher margins and sales targets
Q3. Conflicts between company and distributor for margins, territory and increased distribution reach
Suggest a step-by-step, practical resolution for each of the three cases based on your conversation with relevant stakeholders.
Distribution of paint products is an essential factor in determining the success of a company, as it ensures that the products reach their target market.
While sales territory and the geography-based business potential are key to developing an extensive distribution network, conflicts between distribution channels can arise. In this scenario, a similar company has sought to resolve the internal competition among distributors in their existing distribution network.
Step 1: Conflicts between distributors regarding territories and various discount formats offeredThe resolution of territorial conflicts between distributors will involve understanding the performance of each distributor. Based on their performance and the territories they have been covering, the company can redistribute the sales territories.
Step 2: Conflicts between distributor and retailer regarding higher margins and sales targetsTo resolve conflicts between a distributor and retailer regarding higher margins and sales targets, the company should intervene.
Step 3: Conflicts between company and distributor for margins, territory, and increased distribution reachThe company and distributor should review the margins offered by the company, ensuring that they are reasonable and reflect the overall sales targets.
This will motivate the distributors to expand their distribution reach while ensuring that the company can monitor the performance of each distributor.
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If a price change causes total revenue to change in the opposite direction, demand is elastic inelastic perfect inelastic unitary elastic Question 17 (1 point) Compared to coffee, we would expect the cross elasticity of demand for tea to be negative, but positive for cream. tea to be positive, but negative for cream. both tea and cream to be positive. both tea and cream to be negative.
Compared to coffee, we would expect the cross elasticity of demand for tea to be positive, but negative for cream.
The cross elasticity of demand measures the responsiveness of the quantity demanded of one good to a change in the price of another good. In this case, we are comparing the cross elasticity of demand for tea and cream with respect to coffee.
If the cross elasticity of demand for tea is positive, it means that an increase in the price of coffee would lead to an increase in the quantity demanded of tea. This suggests that tea and coffee are substitutes, and when the price of coffee goes up, consumers switch to tea as a cheaper alternative.
On the other hand, if the cross elasticity of demand for cream is negative, it means that an increase in the price of coffee would lead to a decrease in the quantity demanded of cream. This implies that cream and coffee are complements, and when the price of coffee rises, consumers are less likely to purchase cream to accompany their coffee.
Therefore, based on the information given, we would expect the cross elasticity of demand for tea to be positive (indicating a substitute relationship with coffee) and the cross elasticity of demand for cream to be negative (indicating a complement relationship with coffee).
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exercise \( 1.412 \) Things That I Am Good at Doing wery thisis you do well ifere Thgust \( 1.5 \) fis an easmple icf ruch a leve.
Exercise 1.412: Things That I Am Good at Doing is a task that is designed to help individuals identify the things that they are good at. In the given text, "wery thisis you do well ifere Thgust (1.5) fis an easmple icf ruch a leve," there seems to be a typographical error, and it is unclear what the intended meaning of the statement is.
Identifying the things that one is good at is an essential part of building self-confidence and self-esteem. When individuals recognize and acknowledge their strengths and abilities, it allows them to take pride in themselves and feel more capable of achieving their goals. By contrast, focusing on weaknesses and limitations can lead to negative self-talk and a sense of inadequacy.
In order to complete Exercise 1.412, individuals should take some time to reflect on their strengths and skills. This might involve thinking about things they enjoy doing, activities that come naturally to them, or challenges they have overcome successfully. Some people may find it helpful to make a list of their strengths or to ask trusted friends or family members for input.
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