during the months of january and february, axe corporation purchased goods from three suppliers. the sequence of events was as follows: january 6 purchased goods for $1,400 from green with terms 2/15, n/60. january 6 purchased goods from munoz for $1,000 with terms 2/15, n/60. january 14 paid green in full. february 2 paid munoz in full. february 28 purchased goods for $450 from reynolds with terms n/60. required: assume that axe uses a perpetual inventory system, the company had no inventory on hand at the beginning of january, and no sales were made during january and february. calculate the cost of inventory as of february 28.
Answers
The cost of inventory as of February 28 for Axe Corporation, using a perpetual inventory system, is $498. This calculation takes into account purchases, payments, and the terms of transactions during January and February.
To calculate the cost of inventory as of February 28, we need to consider the purchases, payments, and terms of each transaction. Here's how we can calculate it:
January 6: Purchased goods for $1,400 from Green with terms 2/15, n/60.
This means a 2% discount is given if paid within 15 days, otherwise, the full amount is due within 60 days.
Cost of goods purchased from Green: $1,400
January 6: Purchased goods from Munoz for $1,000 with terms 2/15, n/60.
Same terms as the previous transaction.
Cost of goods purchased from Munoz: $1,000
January 14: Paid Green in full.
Since the payment was made within the discount period, we can deduct the discount.
Payment to Green: $1,400 - (2% of $1,400) = $1,372
February 2: Paid Munoz in full.
Again, since the payment was made within the discount period, we can deduct the discount.
Payment to Munoz: $1,000 - (2% of $1,000) = $980
February 28: Purchased goods for $450 from Reynolds with terms n/60.
No discount is applicable, and the full amount is due within 60 days.
Cost of goods purchased from Reynolds: $450
To calculate the cost of inventory as of February 28, we add the remaining unpaid purchases to the payments made:
Cost of Inventory = Cost of goods purchased - Payments made
Cost of Inventory = ($1,400 + $1,000 + $450) - ($1,372 + $980)
Cost of Inventory = $2,850 - $2,352
Cost of Inventory = $498
Therefore, the cost of inventory as of February 28 is $498.
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Related Questions
what are the equilibrium price level and the equilibrium level of real output in this hypothetical economy?
Answers
In macroeconomics, the equilibrium level of output and prices in the economy is determined by the interaction of the aggregate demand and aggregate supply.
Equilibrium occurs when the aggregate demand and aggregate supply curves intersect. The equilibrium price level and the equilibrium level of real output in this hypothetical economy are determined by the intersection of the aggregate demand and aggregate supply curves.
When aggregate demand and supply curves intersect, the price level and real output at that point are in equilibrium. Equilibrium is achieved when the quantity of goods and services demanded in the economy equals the quantity of goods and services supplied. In this hypothetical economy, the equilibrium price level and equilibrium level of real output are determined by the following:
AD = C + I + G + NX
AS = A + B(P – Pe)
Where AD is aggregate demand, C is consumption, I is investment, G is government spending, and NX is net exports. AS is aggregate supply, A is a constant factor, B is the slope of the aggregate supply curve, P is the price level, and Pe is the expected price level.
When these two curves intersect, the economy is in equilibrium. The equilibrium level of real output is determined by the level of aggregate demand. If aggregate demand is high, real output will be high, and if aggregate demand is low, real output will be low.
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Which of the following is NOT a resource?
A
water
B.
food
C.
land
D.
jewelry
Answers
Answer:
D
Explanation:
It was never made when Earth was made
Answer:
jewelry not resource this is a correct answer
c. the directors of the two hospitals are negotiating unifying the maternity wards of the two hospitals. they believe this will help reduce the number of new mothers staying in the unified ward. how many new mothers would be staying, on average, in the unified ward? (assume that the average number of births and the length of stay of the new mothers will not change.) (round your intermediate calculations to 4 decimal places and final answer to 1 decimal place.)
Answers
The required answer is 0.5 new mothers will be staying on average in the unified ward after unifying.
To calculate the number of new mothers staying on average in the unified ward, we have to follow the given steps:
Step 1: Calculate the total number of new mothers in both hospitals before unifying.
Step 2: Calculate the average number of new mothers in both hospitals before unifying.
Step 3: Calculate the total number of new mothers in the unified ward after unifying.
Step 4: Calculate the average number of new mothers in the unified ward after unifying.
Given data:
Length of stay of new mothers = 2 days
Total number of births in both hospitals = 40 + 60 = 100
Let's calculate the total number of new mothers in both hospitals before unifying:
= 40 + 60
= 100
As per the given information, it is stated that the average length of stay of new mothers is 2 days, and it is also mentioned that the length of stay of new mothers will not change.
So, the total number of mothers in the unified ward would be:
Total number of mothers in the unified ward = Total number of mothers in both hospitals before unifying = 100
Now, let's calculate the average number of new mothers in the unified ward after unifying.
Average number of new mothers in the unified ward after unifying = Total number of new mothers in the unified ward after unifying / Total number of days stayed by all new mothers in the unified ward after unifying
We know, the total number of new mothers in the unified ward after unifying is 100.
The total number of days stayed by all new mothers in the unified ward after unifying would be:
Total number of days stayed by all new mothers in the unified ward after unifying = Total number of new mothers in both hospitals before unifying x Length of stay of new mothers
= 100 x 2
= 200
Now, putting the values in the formula we get,
Average number of new mothers in the unified ward after unifying = 100 / 200
= 0.5
The required answer is 0.5 new mothers will be staying on average in the unified ward after unifying.
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Anna decides to buy a Treasury note futures contract for delivery of $100,000 face amount in June, at a price of 110'25.5. At the same time, Max decides to sell a Treasury note futures contract if he
Answers
Anna decides to buy a Treasury note futures contract for delivery of $100,000 face amount in June, at a price of 110'25.5.
Anna is entering into a futures contract to buy a Treasury note. The contract specifies the delivery of a Treasury note with a face amount of $100,000 in June. The price at which Anna agrees to buy the Treasury note futures contract is 110'25.5.
Note: The format provided doesn't include information about Max's decision to sell a Treasury note futures contract. If you need further assistance or have additional information, please provide more details, and I'll be happy to help.
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explain the process that economists use to conduct a Cost-Benefit Analysis (CBA) for a high-speed rail
Answers
Answer:
A cost-benefit analysis is a systematic process that businesses use to analyze which decisions to make and which to forgo. The cost-benefit analyst sums the potential rewards expected from a situation or action and then subtracts the total costs associated with taking that action. Some consultants or analysts also build models to assign a dollar value on intangible items, such as the benefits and costs associated with living in a certain town.
KEY TAKEAWAYS
A cost-benefit analysis (CBA) is the process used to measure the benefits of a decision or taking action minus the costs associated with taking that action.
A CBA involves measurable financial metrics such as revenue earned or costs saved as a result of the decision to pursue a project.
A CBA can also include intangible benefits and costs or effects from a decision such as employees morale and customer satisfaction.
Cost-Benefit Analysis (CBA)
Understanding Cost-Benefit Analysis (CBA)
Before building a new plant or taking on a new project, prudent managers conduct a cost-benefit analysis to evaluate all the potential costs and revenues that a company might generate from the project. The outcome of the analysis will determine whether the project is financially feasible or if the company should pursue another project.
In many models, a cost-benefit analysis will also factor the opportunity cost into the decision-making process. Opportunity costs are alternative benefits that could have been realized when choosing one alternative over another. In other words, the opportunity cost is the forgone or missed opportunity as a result of a choice or decision. Factoring in opportunity costs allows project managers to weigh the benefits from alternative courses of action and not merely the current path or choice being considered in the cost-benefit analysis.
By considering all options and the potential missed opportunities, the cost-benefit analysis is more thorough and allows for better decision-making.
The Cost-Benefit Analysis Process
A cost-benefit analysis should begin with compiling a comprehensive list of all the costs and benefits associated with the project or decision.
The costs involved in a CBA might include the following:
Direct costs would be direct labor involved in manufacturing, inventory, raw materials, manufacturing expenses.
Indirect costs might include electricity, overhead costs from management, rent, utilities.
Intangible costs of a decision, such as the impact on customers, employees, or delivery times.
Opportunity costs such as alternative investments, or buying a plant versus building one.
Cost of potential risks such as regulatory risks, competition, and environmental impacts.
Benefits might include the following:
Higher revenue and sales from increased production or new product.
Intangible benefits, such as improved employee safety and morale, as well as customer satisfaction due to enhanced product offerings or faster delivery.
Competitive advantage or market share gained as a result of the decision.
An analyst or project manager should apply a monetary measurement to all of the items on the cost-benefit list, taking special care not to underestimate costs or overestimate benefits. A conservative approach with a conscious effort to avoid any subjective tendencies when calculating estimates is best suited when assigning a value to both costs and benefits for a cost-benefit analysis.
Finally, the results of the aggregate costs and benefits should be compared quantitatively to determine if the benefits outweigh the costs. If so, then the rational decision is to go forward with the project. If not, the business should review the project to see if it can make adjustments to either increase benefits or decrease costs to make the project viable. Otherwise, the company should likely avoid the project.
With cost-benefit analysis, there are a number of forecasts built into the process, and if any of the forecasts are inaccurate, the results may be called into question.
Limitations of the Cost-Benefit Analysis
For projects that involve small- to mid-level capital expenditures and are short to intermediate in terms of time to completion, an in-depth cost-benefit analysis may be sufficient enough to make a well-informed, rational decision. For very large projects with a long-term time horizon, a cost-benefit analysis might fail to account for important financial concerns such as inflation, interest rates, varying cash flows, and the present value of money.
What does indigenous technology mean?
Answers
Answer: I hope this is helpful mark brainlist if right then no if wrong
Explanation:
Indigenous technology is used by the native inhabitants of a country or region and it constitutes an important part of its cultural heritage. Characteristically, indigenous technologies: Are recognized as animate, imbued with the breath of life and they live in form and function.Technologies employed by the native inhabitants of a country and which constitute an important part of its cultural heritage and should therefore be protected against exploitation by industrialized countries; the problem of indigenous knowledge has been discussed during the Rio Conference but it does not receive much ...Types of indigenous technology in India are; (i) Generic Drugs. (ii) Thorium based Nuclear Reactors. (iii) Plastic RoadsIndigenous Technology is created within a sensory environment that builds on our sense of relationship, meaning, balance, feeling, memory and place as well as sight, sound, smell, taste and touchIndigenization is the process by which Indigenous ways of knowing, being, doing and relating are incorporated into educational, organizational, cultural and social structures of the institution.One example of Indigenous Technologies in action today can be witnessed in differential approaches to medicine. Medical technologies in the Western Scientific sense of the term might conjure images of biomedical research labs, electromagnetic monitors or imaging systems such as CT or MRI scans.Indigenous technology is used by the native inhabitants of a country or region and it constitutes an important part of its cultural heritage. Characteristically, indigenous technologies: Are recognized as animate, imbued with the breath of life and they live in form and function.
Halima wants a Manufacturing career. She wants to be very successful and get paid well. Which career pays the
highest salary?
A.hand packages
B.mechanical engineer
C.quality control inspectors
D.environmental engineering technician
Answers
Answer:
D
Explanation:
Answer:
The answer is actually B) Mechanical engineer
Explanation:
I got 94% right on the edge unit test :)
Accounts Receivable Balance Beginning accounts receivable were $43,375. All sales were on account and totaled $187,600. Cash collected from customers totaled $182,450.
Calculate the ending accounts receivable balance.
Answers
The ending account receivable balance is $48,525.
The ending accounts receivable balance is an important metric for businesses as it represents the amount of money that is yet to be collected from customers, and it helps in managing the company's cash flow and liquidity.
To calculate the ending accounts receivable balance, you should follow these steps:
1. Start with the beginning accounts receivable balance of $43,375.
2. Add the total sales on account, which is $187,600.
3. Subtract the cash collected from customers, which is $182,450.
Your answer: The ending accounts receivable balance is $48,525.
Here's the step-by-step calculation:
$43,375 (Beginning accounts receivable) + $187,600 (Total sales on account) - $182,450 (Cash collected from customers) = $48,525 (Ending accounts receivable balance).
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sove 3logx + 5 is equal to 8
Answers
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\(3 log(x) + 5 = 8\)
Subtract sides 5
\(3 log(x) + 5 - 5 = 8 - 5\)
\(3 log(x) = 3\)
Divide sides by 3
\( \frac{3 log(x) }{3} = \frac{3}{ 3} \\ \)
\( log(x) = 1\)
_________________________________
Reminder :
\( log_{a}(x) = b\)
\(x = {a}^{b} \)
_________________________________
Thus ;
\( log_{10}(x) = 1\)
\(x = {10}^{1} \)
\(x = 10\)
Done...
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An applicant receives a job offer from two different companies. Offer A is a starting salary of $58,000 and a 3% increase for 5 years. Offer B is a starting salary of $56,000 and an increase of $3,000 per year.
Answers
Offer B can be indicated by an arithmetic sequence because the salary difference is constant for two consecutive years.
How can sequence be written as?Bn = 56,000 + 3,000n
where n is number of years in job.
Subtracting: B(n+1) - Bn
As you can see, the difference in salaries for two consecutive years is constant. That is, Bn is an arithmetic sequence.
What is an arithmetic sequence?An arithmetic sequence is an ordered set of numbers with a common difference between each successive term. For example, in the arithmetic sequence 3, 9, 15, 21, 27, the tolerance is 6. Arithmetic sequence can be called arithmetic progression.
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Which type of chart or graph shows data with distinct x and y values?
O a bar graph
O a scatter plot
O a line chart
O a pie chart
Answers
Answer:
A. a bar graph is the answer
if an economy is able to keep production costs down, and allocate resources effectively, they have achieved the goal of equity. true or false
Answers
This statements is False. if an economy is able to keep production cost down, and allocate resources effectively, they have achieved the goals of equity.
Equity in an economy refers to fairness and justice in the distribution of resources, opportunities, and benefits among individuals and groups. While keeping production costs down and allocating resources effectively can be important factors in achieving economic efficiency, they do not guarantee equity.
Equity requires addressing disparities and inequalities that may exist in society, such as income inequality, access to education and healthcare, social mobility, and opportunities for advancement. It involves creating policies and systems that promote equal access to resources and opportunities, regardless of socioeconomic background, race, gender, or other characteristics.
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Do you think president Biden should give reparations?
Answers
Monsanto sells genetically modified seed to farmers. It needs to decide how much seed to put into a warehouse to serve demand for the next growing season. It will make one quantity decision. It costs Montanso $8 to make each kilogram (kilogram) of seed. It sells each kilogram for $45. If it has more seed than demanded by the local farmers, the remaining seed is sent overseas. Unfortunately, it only earns $3 per kilogram from the overseas market (but this is better than destroying the seed because it cannot be stored until next year). If demand exceeds its quantity, then the sales are lost—the farmers go to another supplier. As a forecast for demand, it will use a normal distribution with a mean of 300,000 and a standard deviation of 100,000. Use Table 13.4.
Answers
Monsanto should put 344,000 kilograms of seed into the warehouse to improve the expected profit.
The costs Montanso = $8
Selling price = $45
Overseas market price = $3 per kilogram
Mean = 300,000
Standard deviation = 100,000
The profit function is given by:
Profit = Revenue - Cost
Profit = (Price sold x Quantity sold) - (Cost x Quantity produced)
Expected Profit = P(Demand < Q) * Profit when demand is less than Q + P(Demand >= Q) * Profit when demand is greater than Q
Expected Profit = P(Z < (Q-300,000)/100,000) * ((45 * min(Q, 300,000)) - (8 * Q)) + P(Z >= (Q-300,000)/100,000) * ((45 * Q) + (3 * max(0, (300,000-Q))))
Expected Profit = (45 - 8) * P(Z < (Q-300,000)/100,000) - (45 - 3) * P(Z >= (Q-300,000)/100,000) = 0
37 * P(Z < (Q-300,000)/100,000) = 42 * P(Z >= (Q-300,000)/100,000)
P(Z < (Q-300,000)/100,000) = 42/79
(Q - 300,000)/100,000 = 0.44
Quantity = 344,000 kilograms
Therefore, we can conclude that Monsanto should put 344,000 kilograms of seed into the warehouse to improve the expected profit.
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4. If your checking account's balance is
$3,678.89 and you withdraw $1,514, what
is the remaining balance?
A $2,164.89
B $5,192.89
C$2,614.89
D $3,678.89
(Step by step ) please
Answers
Basically just subtract, 3,678.89-1514 = 2,164.89
analyse the impact of an enterprise using break even analysis to make business decisions
Answers
Answer:
Using break-even analysis in your feed and grain business can help you understand and examine the profit drivers of your business. It is a very useful tool that can help you understand how much you need to sell to cover your costs and how pricing, cost, and volume changes impact these needed sales.
Pineapple whip, a company that makes an ice cream-like treat using pineapple, sells its branding, production techniques, and proprietary flavors to other companies for a fee and a share of the profits. Pineapple whip is engaged in.
Answers
In this context, the Pineapple whip is engaged in a business arrangement called Franchising.
What is Franchising?Franchising is a business arrangement where the franchisor (one party) grants some rights and authorities to the franchisee.
In this case, the franchisee will pays a fee to the franchisor because he is using the business's success, trademarks, proprietary knowledge etc.
In conclusion, the Pineapple whip is engaged in a business arrangement called Franchising.
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It costs $2,500 to send an employee to a three-day seminar. The information obtained at this seminar should allow the employee to increase their sales success rate by 1%. The employee has a success rate of 3% of converting a call into a sale. The employee makes five calls per day Mon through Fri for 50 weeks per year. If each sale is $2,000, what would be the increase in sales dollars be by attending this seminar?
Answers
Answer:
$25,000
Explanation:
success rate without attending the seminar = 3% x 5 calls per day x 5 days per week x 50 weeks per year x $2,000 sale = $75,000
success rate after attending the seminar = 4% x 5 calls per day x 5 days per week x 50 weeks per year x $2,000 sale = $100,000
the increase in sales dollars due to the increase in productivity (after attending seminar) = $100,000 - $75,000 = $25,000
please respond to all parts of the question below, each with its own section. a. do you think businesses should voluntarily undertake environmental efforts, beyond those required by law? why or why not? b. describe the sustainability management practices of a business firm with which you are familiar. which stage of the corporate environmental responsibility model best fits this firm, and why? looking again at this same firm, what steps might its managers take to improve its environmental performance? in answering this question, consider the various elements of effective environmental management.
Answers
a. Yes, I think businesses should voluntarily undertake environmental efforts beyond those required by law. There are several reasons for this:
Environmental degradation can have negative impacts on businesses, including increased costs due to natural disasters or regulatory fines, as well as reputational damage from negative public perception. By proactively addressing environmental issues, businesses can mitigate these risks and potentially even benefit from improved reputation and customer loyalty.Some environmental efforts may also have financial benefits for businesses, such as reduced energy costs from energy efficiency measures or the ability to sell excess renewable energy back to the grid.Businesses have a responsibility to operate in a way that takes into account the well-being of society and the environment. By proactively addressing environmental issues, businesses can demonstrate their commitment to sustainability and their broader role in society.b. One business firm that I am familiar with that has strong sustainability management practices is Patagonia, an outdoor clothing and gear company. Patagonia has a comprehensive environmental policy that includes commitments to reducing the environmental impact of its products and operations, as well as advocating for environmental causes.
To improve its environmental performance, Patagonia's managers could consider implementing additional sustainability initiatives, such as increasing the use of recycled materials in its products, implementing water conservation measures in its manufacturing processes, or increasing the use of renewable energy in its operations. Other elements of effective environmental management that Patagonia's managers could consider include setting clear environmental goals and targets, engaging with stakeholders (including employees, customers, and suppliers) on environmental issues, and reporting transparently on the company's environmental performance.
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Imagine that you performed a nail enhancement on a client and made a mistake—you cut living skin and injured them, you applied tips that were too wide or narrow, you soaked their hands too long in acetone, etc. How would you handle a situation like this that involved a disgruntled, injured, or very upset client? What would you do to try and appease the client, fix your mistake, and avoid losing future business from this client?
Answers
Answer: Personally I would offer a refund on the nails that they are currently getting, and or giving them a free nail appointment next time they come and make sure that all things are clean safe and ready to use for him/her next time him/she comes
Explanation:
firms in a small economy planned that inventories would grow over the past year by $500,000. over that year, inventories did grow by exactly $500,000. this implies that
Answers
Given the situation described in the question, this implies that the firm's "aggregate expenditure that year equal to the GDP that year."
This is evident in the fact that the expected or estimated inventories sum equals the actual inventories sum.
Note business or firm's inventories are included when measuring the GDP.
This is because the unsold inventories of firms which is resulted from the firms producing more than they sell, increases GDP. While when firms sell Inventories more than they produce, it leads to a reduction in GDP.
Hence, in this case, it is concluded that the correct answer to the question is "aggregate expenditure that year equal to the GDP that year."
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a car wash loses $30 on rainy days and makes $120 on days when it does not rain. if the probability of rain is .15, calculate expected profit for the car wash.
Answers
When it's raining, a car wash costs $30; when it's not, it costs $120. The projected profit for the vehicle wash is $97.50 if the likelihood of rain is 0.15.
The likelihood of making a profit is multiplied by the payoff's profit to determine the expected profit, and the probability that specific costs will be incurred is multiplied by the cost to determine the expected cost.
Simply put, probability is the possibility that something will occur. When we don't know how something will turn out, we can talk about the possibility of one outcome or the likelihood of several. The study of events that fit into a probability distribution is known as statistics.
Probability of no rain is equal to 1 - 0.15 = 0.85.
Expected Profit = (Probability of not Rain * Profit if not Rain) +(Probability of Rain * Profit if Rain)
Expected Profit = (0.85 * 120) + (0.15 * -30)
Expected Profit = 102 + -4.5
Expected Profit = 102 - 4.5
Expected Profit = 97.5
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Which is NOT an indicator of a country's economic health?
A. GDP
B. standard of living
C. environmental awareness
D. inflation
Answers
Answer:
d
Explanation:
Calculate the moving average using the data points given below
90 65 45 70 85
The calculated data points using moving average method is __
Answers
71 is the moving average for the data
What is moving average ?A stock's trend direction may be found by calculating a moving average, as well as a stock's support and resistance levels. Due to the fact that it is reliant on previous prices, it is a trend-following or lagging indicator.
KEY LESSONS
A typical stock indicator in technical analysis is the moving average (MA).
By generating a continuously updated average price, the moving average aids in leveling the price data over a given time.
A simple moving average (SMA) is a formula that averages a series of prices over a predetermined period of time, often a certain number of days.
A weighted average called an exponential moving average (EMA) gives a stock's price more weight recent days, making it an indicator that is more responsive to new information.
We need to find the moving average our data is 90 65 45 70 85
Moving average = A1+ A2+A3+A4+A5/n
where:
A=Average in period n
n=Number of time periods
Moving average = 90+65+45+70+85/5
71
Thus our moving average is 71
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In a traditional cost accounting system, what type of costs are assigned to products even if the costs are not caused by the products?.
Answers
Even if the costs are not caused by the products, they are ascribed to them in a standard cost accounting system. Manufacturing
The process of producing items using labor, equipment, instruments, biological or chemical processing, or formulation, is known as manufacturing.
What is Manufacturing?
Manufacturing has been around for millennia, and it was first carried out by experienced artisans who occasionally worked with helpers and handed down their knowledge through apprenticeships. Manufacturers might have become members of guilds that would defend the rights and trade secrets of these artisans. As an alternative, manufacturing might occur on a smaller scale, frequently in rural areas, where artisans would augment agricultural subsistence through home-based manufacture. Through the putting-out method, these industrial households were occasionally arranged into connected firms.Adam Smith proposed the idea of the division of labor in his book The Wealth of Nations, which also outlined the assembly-line technique of manufacturing. In order to produce a more effective and efficient process, various employees would each take just one step of a manufacturing process, such as cutting the wire for a pin. This idea was used by mechanization and subsequently automation to provide extremely reproducible manufacturing.To learn more about Manufacturing visit:https://brainly.com/question/13440987
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Which of the following reflects Revenue after Deductions?
Answers
Answer:
Net income reflects the total residual income that remains after accounting for all cash flows, both positive and negative. In other words, from revenue, which is called the top-line number, all income, expenses, and costs are deducted to arrive at net income
NET INCOME
Explanation:
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Entrepreneurs need to be introspective when evaluating their
likelihood of success. Determine how you fare on 10 distinct
entrepreneurial traits (Extroversion, Approach, Flexibility,
Creativity, Plann
Answers
Being an entrepreneur takes more than a good business idea. As an entrepreneur, you need to have several traits that will help you survive in the industry. Below are ten entrepreneurial traits that are vital to entrepreneurs' success:
1. Extroversion: Entrepreneurs who are outgoing, friendly, and are comfortable interacting with others tend to have an easier time building relationships with customers, partners, and other entrepreneurs. Being outgoing helps entrepreneurs market their products and services effectively.
2. Approach: Entrepreneurs should be proactive, ambitious, and take initiative in their businesses. They should be assertive and take calculated risks to achieve their goals. Entrepreneurs who are passive or reactive tend to struggle.
3. Flexibility: Entrepreneurs need to be adaptable to changes and comfortable with uncertainty. They should be willing to change direction if necessary and be prepared to pivot if their original plan does not work out.
4. Creativity: Entrepreneurs should be able to generate new and innovative ideas that differentiate them from the competition. They should be able to see problems as opportunities and come up with creative solutions to solve them.
5. Planning: Entrepreneurs should be able to develop a plan that outlines their vision, mission, goals, and objectives. They should be able to break down their plan into smaller, more manageable tasks and set deadlines for each task. Entrepreneurs who fail to plan are planning to fail.
6. Resourcefulness: Entrepreneurs should be able to make the most of what they have and maximize their resources to achieve their goals. They should be able to work with a limited budget and come up with creative ways to get things done.
7. Resilience: Entrepreneurs should be able to bounce back from setbacks, failures, and disappointments. They should be able to learn from their mistakes and use the lessons learned to improve their businesses. Entrepreneurs who lack resilience may give up quickly when things don't go as planned.
They should evaluate their skills, abilities, and traits to determine whether they have what it takes to succeed. Entrepreneurs who possess the ten traits mentioned above are more likely to succeed than those who do not.
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There are five of these traits in potential entrepreneurial success is creativity, initiative, determination, flexibility, and planning.
Creativity: This refers to the potential to spot fresh chances and come up with creative answers to problems that crop up in my entrepreneurial endeavor.
Having initiative indicates that you're more likely to be able to move swiftly and make decisions, which can be important in a fast-paced entrepreneurial atmosphere.
Determination: This refers to the likelihood that I will be able to maintain my attention and dedication to my business endeavor despite obstacles or setbacks.
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Your question is incomplete, but most probably the full question was.
Entrepreneurs need to be introspective when evaluating their likelihood of success. Determine how you fare on 10 distinct entrepreneurial traits (Extroversion, Approach, Flexibility, Creativity, Planning, Initiative, Independence, Purpose, Emphasis, Determination).
Assuming for the purpose of this question that you are considering your own entrepreneurial venture list and describe five e(5) of these traits discuss how you fared on each of these and what this means for your potential entrepreneurial success
A small business that competes in a market where demand is price elastic is introducing a system of quality assurance. Analyse how quality assurance might improve its competitiveness. (9 marks)
Answers
Quality assurance involves paying attention to detail and meeting quality targets at every stage of the production process. This ensures that the final product is error-free.
What is the meant quality assurance?
Quality assurance can defined as "the part of quality control intended to give confidence that quality requirements have been met". The trust Quality Assurance provides is double that of internal management and external customers, government agencies, regulators, certification bodies, and third parties.
What's are the role of quality assurance?
Quality assurance staff are responsible for ensuring that products and services comply with the company's established standards. Responsibilities include rigorously maintaining overall quality control of products manufactured by the company while adhering to reliability, performance and customer expectations.
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When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must
Answers
When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.
This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.
To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.
Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.
Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.
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NEED HELP ASAP!!!
Which TWO statements describe advantages of e-filing tax returns?
A. Taxpayers can download the tax forms from the IRS website and mail the completed forms directly to the IRS.
B. Taxpayers can use a software program for assistance in entering the required information and the tax calculation.
C. Taxpayers can avoid delayed returns and ensure quicker processing and faster refunds.
D. Taxpayers get a tax rebate for using an environmentally friendly process.
E. Taxpayers can seek free advice from the Volunteer Income Tax Assistance program.
Answers
Answer:
B. Taxpayers can use a software program for assistance in entering the required information and the tax calculation.
C. Taxpayers can avoid delayed returns and ensure quicker processing and faster refunds.
Explanation:
E-filling is electronic tax filling. It involves filing and submitting tax returns via the internet. A taxpayer needs to access the tax authority's website and fill-in the relevant details. The tax authority usually has customized programs that make the tax-payers work easy.
E-filling is quick and convenient. The taxpayer does not need to travel or send tax documents to the tax office. They fill the tax forms online and submit them immediately. The tax information is captured and stored in the systems. There are quick references and records don't get lost, which makes refund processes faster.
Answer:
B and C
Explanation:
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