Many cities in Florida operate municipal golf courses. In recent years, tourism and the popularity of golf have fallen off, leading the golf courses to operate at a loss, often up to $1 million per year. Supporters of the golf courses note that the municipal courses are part of the cities' Parks and Recreation departments which benefit the entire community, while others have criticized the local governments for injecting money into a business that should be funded primarily through user charges.

1. What are the accounting implications of operating the golf courses as part of the General Fund rather than an enterprise fund?

2. What are some other options for the cities, and what questions would be associated with those alternatives?

Answers

Answer 1

1. Operating the golf courses as part of the General Fund rather than an enterprise fund would mean that the costs and revenues of the golf courses are commingled with other governmental activities. This could make it difficult to determine the true cost of the golf courses, and may result in the city subsidizing the courses without fully understanding the cost. Additionally, if the golf courses are not generating enough revenue to cover their expenses, this could result in the city diverting funds from other activities to cover the shortfall.

2. Some other options for the cities could include: privatizing the golf courses, increasing user fees, reducing expenses, or repurposing the land. Privatizing the golf courses could result in a reduction in the costs associated with operating the courses, but would require a private entity to be willing to take over the operation. Increasing user fees could result in a reduction in demand for the courses, and may not be enough to cover the costs. Reducing expenses could help to reduce the losses associated with the courses, but may result in a reduction in the quality of the courses or amenities. Repurposing the land could involve using the land for other purposes that generate revenue for the city, but may be unpopular with those who enjoy golfing. Questions associated with these alternatives would include: what are the potential revenue and cost savings associated with each option? How will each option impact the community and stakeholders? What are the potential legal implications associated with each option?

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Related Questions

individuals in different segments should have ______ within the segment and ______ across the segments.

Answers

Answer:

similarities; differences Is correct answer

Explanation:

individuals in different segments should have similarities within the segment and differences across the segments.

(Hope this helps can I pls have brainlist (crown)☺️)

Do you think Ruby should change the payment method she uses for her employees? Justify your answer.

Give me the real answers or you will not be able to get brainlist ​

Answers

Answer:

Yes ✌️✌️✌️✌️✌️

with this type of externality, in the absence of government intervention, the market equilibrium quantity produced will be than the socially optimal quantity.

Answers

The type of externality where market equilibrium quantity produced will be more than socially optimal quantity in absence of governemtn intervention is Negative externality.

Let understand that whenever a production of good or service negatively affect the unrelated third party who is not directly involved in a market transaction, it is said that negative externality exists in the scenario.

A very good example of commonly cited Negative Externalities are air pollution and noise pollution which was caused during production an affects unrelated third party.

If there is presence of government intervention in the production, then, the production of goods or service will be halted.

Therefore, in conclusion, this type of externality is called the Negative Externality.

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PILLAY MANUFACTURERS (PM) mutual agreement for work performed at night after 18:00 and before 6:00 the following day. Pillay manufacturers specialises in the manufacturing of fruit juice. Employees at PM have a normal rate. PM provided all black employees with learnerships and learning programmes. Black females are given opportunities to be included in shareholding in the business. Newly appointed employees were given access to the employment contract and were also inducted on different aspects. The induction programme included the following aspects: The tour of the premises, introduction to key people and immediate colleagues and a discussion of employee benefits. The business strives to set a code for ethical and effective leadership by the board of directors, by ensuring that all King Code principles are applied in all dealings. Employees have demonstrated some unprofessional business practices by taking extended lunch breaks to do their shopping. 1.1.1 PM needs to identify problems that affect their operations to make informed decisions. Brainstorming and force field analysis have been applied to enable them to solve complex business problems. Name TWO provisions of BCEA from the scenario above​

Answers

Considering the scenario above, the two provisions of the BCEA would be:

The mutual agreement for night work after 6 pm and 6 am.The induction program that includes discussing employee benefits.What is the BCEA?

Corresponds to an acronym for Basic Conditions of Employment Act, which is a South African labor law, which aims to provide decent standards and rights for local workers. Some of its principles are related to:

Working hoursOvertimeAnnual leaveLicensesTermination of the employment contract

Therefore, BCEA is essential for labor regulation in South Africa, establishing rules on wages, child labor and other workers' rights.

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What is STP Marketing?

Answers

STP Marketing is a strategic approach to marketing that involves segmenting the market, targeting specific segments, and positioning products or services to meet the unique needs of those segments. STP stands for Segmentation, Targeting, and Positioning, which are the key elements of this approach.

In STP Marketing, the first step is segmentation, which involves dividing the market into groups of consumers who share similar characteristics, such as demographics, behaviors, or preferences. This allows businesses to better understand their customers and create targeted marketing campaigns that address the unique needs and wants of each segment.

Once the market is segmented, the next step is targeting. This involves selecting one or more segments that the business wants to focus on and tailoring its marketing efforts to those segments. By targeting specific segments, businesses can develop more effective marketing strategies that are more likely to resonate with their customers.

Finally, positioning involves creating a unique image or identity for the product or service in the minds of the target audience. This can involve developing a specific brand personality, highlighting key product features or benefits, or positioning the product in a certain way relative to competitors. By positioning their products or services in a way that appeals to their target audience, businesses can differentiate themselves from the competition and create a stronger market position.

Overall, STP Marketing is a powerful tool for businesses to create more effective marketing strategies and achieve greater success in the marketplace. By segmenting the market, targeting specific segments, and positioning their products or services in a way that meets the unique needs of those segments, businesses can create a strong competitive advantage and better connect with their customers.

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what is the benefits of purchasing health insurance through your employer

Answers

In most cases, Employee Health Insurance is free as the employer pays for it. It is offered by the employer as a benefit. Thus, the cost of the payable premium is not deducted from the employee's salary unless specified otherwise.




ew hires and current employees alike while setting businesses apart from competitors.
Employee loyalty and retention – Offering group health insurance can help small businesses keep their top employees for the

Management, can anyone help me?

Management, can anyone help me?

Answers

I think it is C I looked up some stuff and they all add up to C

Q.3.1 Define redundant data and provide an example in the context of a bank. (4)

Answers

Redundant data refers to the presence of duplicate or repetitive information within a database or system.

In the context of a bank, redundant data can occur when the same customer information is stored in multiple locations or databases. For example, if a customer's name, address, and contact details are stored in both the customer account database and the loan management database, it creates redundant data.

The duplicate information takes up additional storage space and can lead to inconsistencies and inaccuracies if not properly synchronized.

Redundant data can arise due to various reasons, such as system upgrades, data migration, or integration of different software systems. While some redundancy may be intentional for data backup purposes or system performance optimization, excessive redundancy can be problematic.

Having redundant data can lead to several challenges and issues. Firstly, it increases the risk of data inconsistencies and errors. If the same information is updated in one location but not in others, it can create discrepancies and make it difficult to obtain accurate and reliable data. This can impact various banking operations, including customer service, decision-making, and reporting.

Moreover, redundant data consume additional storage space and computational resources, which can increase operational costs and affect system performance. It also adds complexity to data management processes, as changes or updates need to be applied consistently across all redundant instances to maintain data integrity.

To mitigate the impact of redundant data, banks employ data management practices such as data normalization, data deduplication, and periodic data cleansing.

To mitigate the impact of redundant data, banks employ data management practices such as data normalization, data deduplication, and periodic data cleansing.

These measures help ensure that data is stored efficiently, redundancies are minimized, and data consistency and accuracy are maintained. Implementing a centralized data management system and adhering to data governance principles can also help address redundant data and improve overall data quality and integrity within the banking environment.

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Marcus volunteers for an organization that cleans up
the neighborhood park. Each volunteer is assigned to
a different section of the park to pick up trash and pull
weeds
Which motivation for giving is described in this
paragraph?
to gain recognition
to develop new skills
to support an institution
to give back to the community

Answers

Answer:

D.  To give back to the community

I got it right on Edgenuity

D. to give back to the community is the motivation for giving is described in this paragraph.

What is motivation and why is it important?

Motivation reflects something specific approximately each one of us and allows us to advantage valued outcomes like progressed performance, improved wellbeing, personal growth, or a feeling of reason. Motivation is a pathway to alternate our way of thinking, feeling, and behaving.

What is motivation examples?

Motivation is defined as the reasons why you're doing something, or the level of desire you need to do something. in case you want to lose weight to get more healthy, this is an example of motivation to enhance your health.

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Bailey enjoys working with her hands. She wants to choose a career path that would allow her to create things. Which career would be best for
her?
O A. zoologist
O B. greenhouse nursery worker
O C. energy auditor
O D.
civil engineer
• E. jeweler and metal worker

Answers

Answer:

Jewerly and metal worker.

Explanation:

If you want to create thing with your hands and allowing her to create things a jewlery worker and a metal worker is the best for making stuff out of your imagination.

Which of these is considered the highest level of management?
A. Supervisor
B. Team member
C. Executive
D. Middle manager​

Answers

C. The Executive. Hope that helps...

The Executive is considered the highest level of management. Option C is correct.

What is the management?

Management may be described as the process of completing the job or activity necessary to achieve an organization's goals in an efficient and effective manner.

The process implies the management functions. This includes organizing, planning, staffing, directing, and controlling. A manager's responsibility is to offer common guidance and direction to individual efforts to achieve organizational goals.

Management contributes to increased corporate efficiency by increasing productivity via effective planning, organizing, controlling, and directing.

Therefore, option A is correct that The Executive is the most senior level of management.

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c) 4 benefits which membership in a trade union can bring to employees are

Answers

Answer:

seguro de servicios medicos, la paga de horsa extras, la antiguedad, las pensiones,

Answer:

Unions are associated with higher productivity, lower employee turnover, improved workplace communication, and a better-trained workforce. There is a substantial amount of academic literature on the following benefits of unions and unionization to employers and the economy: Economic growth. Productivity.

Explanation:

The four fields of service in which chapters must be involved in

Answers

The four fields of service in which chapters must be involved in include community service, professional development, fundraising, and social activities.

Community service involves volunteering and contributing to the betterment of the community. Professional development includes workshops, seminars, and training programs that help members improve their skills and knowledge. Fundraising involves organizing events and activities to raise money for charitable causes or the chapter itself. Lastly, social activities aim to foster social connections, promote bonding, and create a sense of community among members. Each field of service is equally important, and a well-rounded chapter should be involved in all four. By participating in these fields of service, chapters can make a positive impact on their members, community, and society as a whole.

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Drew a bill upon Raman amounting to Rs 25000 and he accepted the bill.
Journal entry​

Answers

Answer:

left hand side; SALE

RIGHT HAND SIDE: 25000

Explanation:

to be successful, strategic planning requires a company to have a ______ orientation.

Answers

To be successful, strategic planning requires a company to have a long-term orientation.

What is strategic planning?

Strategic planning can be defined as the way of making use of techniques that will enables a company to achieve their future goals and objective.

On the hand  long-term orientation can be defined as the future goals they a company or an organization has the plan to achieve.

Therefore the statement that filled the gap is long term.

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Fixed costs are _____.

a. the costs related to the product that have to be paid regardless of the amount you sell
b. the costs that change depending on a company's performance
c. the costs resulting from a business owner's choice when selecting one thing over another and how it will impact the business
d. none of the above
20 POINTS HURRY PLZZZ

Answers

Answer:

d. none of the above

Explanation:

Fixed costs are a firm's expenses that remain constant in a financial period. These are the costs that are not affected by the level or quantity of output. Fixed costs are the costs of staying in business because they have to be paid regardless of output level. Examples of fixed costs include rent, administrative salaries, insurance, depreciation, and license fees.

Costs that vary depending on company performance are variable costs. Opportunity costs are the costs resulting from a business owner's choice when selecting one thing over another and how it will impact the business

Answer:

The answer is A. the costs related to the product that have to be paid regardless of the amount you sell

Explanation:

for a loan, what do you call the amount that you borrow?

Answers

Answer:

principal

Explanation:

As an incentive to encourage domestic firms to undertake fdi, many countries have:______

Answers

As an incentive to encourage domestic firms to undertake Foreign Direct Investment (FDI), many countries have implemented various investment promotion policies.

Investment promotion policies are measures and incentives put in place by governments to attract and encourage domestic firms to invest in foreign markets. These policies aim to create a favorable business environment and reduce barriers for companies seeking to engage in FDI. Some common investment promotion policies include:

Tax incentives: Governments may provide tax breaks, exemptions, or reductions on corporate income tax, property tax, or import duties for companies engaging in FDI. These incentives can make foreign investments more financially attractive for domestic firms.

Financial assistance: Governments may offer financial support in the form of grants, subsidies, loans, or guarantees to domestic firms undertaking FDI. This assistance can help reduce the financial risks associated with foreign investments.

Infrastructure development: Governments may invest in improving infrastructure such as transportation networks, communication systems, and power supply in regions targeted for FDI. Enhanced infrastructure can make a country more attractive to domestic firms considering overseas investments.

By implementing these investment promotion policies, countries seek to attract domestic firms to engage in FDI, which can bring economic benefits such as increased capital inflows, job creation, technology transfer, and knowledge spillovers.

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A U.S. manufacturer that exports goods made at its U.S. plants for shipment to foreign marketsA) is competitively disadvantaged when the U.S. dollar declines in value against the currencies of the countries to which it is exporting.B) is largely unaffected by fluctuating exchange rates; it would, however, be affected if its plants were in foreign countries.C) becomes more competitive in foreign markets when the U.S. dollar gains in value against the currencies of the countries to which it is exporting.D) becomes more competitive in foreign markets when the U.S. dollar declines in value against the currencies of the countries to which it is exporting.E) has no interest in whether the dollar grows stronger or weaker versus foreign currencies unless it is competing only against companies located in foreign countries.Expert Answer100% (5

Answers

A U.S. manufacturer exporting goods made in the U.S. becomes more competitive in foreign markets when the U.S. dollar declines in value against foreign currencies. Thus the correct option is D.

Exchange rate changes have an impact on a US firm that exports products created at its US facilities for sale in overseas markets. The manufacturer becomes more competitive in overseas markets as a result of the relative decrease in the price of its goods caused by the U.S. dollar's value versus the currencies of the nations it exports to.

On the other hand, the manufacturer loses market share because its goods become comparatively more costly as the U.S. dollar appreciates versus the currencies of the nations to which it is exporting. As a result, changes in the exchange rate can significantly affect how competitive a firm is on global marketplaces.

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Therefore, the correct answer is C) becomes more competitive in foreign markets when the U.S. dollar gains in value against the currencies of the countries to which it is exporting. A U.S. manufacturer that exports goods made at its U.S. plants for shipment to foreign markets would be competitively disadvantaged when the U.S.

This is because the goods will become more expensive for foreign buyers, making them less likely to purchase from the U.S. manufacturer. On the other hand, if the U.S. dollar gains in value against the currencies of the countries to which it is exporting, the U.S. manufacturer becomes more competitive in foreign markets as its goods become relatively cheaper. Researching the market, finding new customers, negotiating contracts, planning shipping and logistics, and adhering to legal and regulatory requirements are all common steps in the exporting process. Companies might do it directly or indirectly through middlemen like export agencies or distributors. Selling products or services made in one nation to customers in another is known as exporting.

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With the help of online research, write a short report on “glocalization.”

Answers

The phenomena of Glocalization, which is best described as Thinking Globally, Acting Locally, is created when the two terms of globalisation and localization are combined.

To put it more properly, we may say that although if a single brand is produced, sold, and distributed globally, it is nevertheless personalised and customised to suit the tastes and preferences of customers in the many global marketplaces.

It is carried out since each region of the world has its own unique culture, linguistic preferences, demands, and desires.

By adjusting their offerings and products to meet the needs of that specific market, businesses may effectively position and place their items, resulting in high revenues and devoted customers.

The following are all global brands, although they cater to the demands of their customers in various parts of the world while selling items.

Chips by Lays (They sell different flavours in different parts of the world, according to the taste preference and eating habits of that country).

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what is a form in computer?​

Answers

In a database context, a form is a window or screen that contains numerous fields, or spaces to enter data. Each field holds a field label so that any user who views the form gets an idea of its contents. A form is more user friendly than generating queries to create tables and insert data into fields.

When the government changes either its spending or tax policy to pursue economic objectives, it has changed its: _________

Answers

When the government changes either its spending or tax policy to pursue economic objectives, it has changed its Fiscal policy.

Fiscal policy refers to the use of government spending and taxation as instruments for managing the economy. The government can influence economic activity through changes in its spending and tax policies. For example, if the government wants to stimulate economic growth, it may increase its spending on infrastructure projects, or it may lower taxes to put more money in consumers' pockets, thereby increasing demand for goods and services. On the other hand, if the government wants to slow down an overheating economy, it may reduce its spending or raise taxes, which would decrease demand and help bring inflation under control. The goal of fiscal policy is to achieve the optimal balance between economic growth, employment, and price stability. Effective fiscal policy can help stabilize the economy during recessions, but if not managed carefully, it can also lead to large budget deficits and rising public debt.

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most federal and state entities rely on the criteria for independent contractor status identified by the __________.

Answers

Most federal and state entities rely on the criteria for independent contractor status identified by the Internal Revenue Service (IRS).

The IRS provides guidelines and factors to determine whether a worker should be classified as an independent contractor or an employee. These criteria, outlined in IRS Publication 15-A, include factors such as the level of control over the worker, the nature of the relationship, the method of payment, and the presence of a written contract.

These guidelines are used to determine the worker's tax status and to ensure compliance with employment laws, including payment of taxes and benefits. While individual states may have their own additional criteria, the IRS guidelines serve as a primary reference for determining independent contractor status.

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What is the meaning of business opportunity

Answers

Answer:

A business opportunity (or bizopp) involves sale or lease of any product, service, equipment, etc. that will enable the purchaser-licensee to begin a business. ... This is different from the sale of an independent business, in which there is no continued relationship required by the seller.

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Correct verbal communication during an interview includes _____.
a.
a pleasant tone of voice
b.
positive vocabulary
c.
correct grammar and word choices
d.
all of the above

Answers

Answer: All of the above

Explanation: During an interview, it is important to take into account a series of elements such as: having a pleasant tone of voice, a positive vocabulary, and a good command of grammar. The characteristics mentioned above allow communication to take place in an adequate way, allowing the interviewee to understand what is being asked of him and respond appropriately.

Answer:

all of the above

Explanation:

Most home insurance policies cover jewelry for $1,000 and silverware for $2,500 unless items are covered with additional insurance. If $4,300 worth of jewelry and $5,600 of silverware were stolen from a family, what amount of the claim would not be covered by insurance?

Answers

The amount of the claim that would not be covered by insurance is $2,900.Most home insurance policies have limits on coverage for jewelry and silverware, which are typically $1,000 and $2,500,

respectively. In this scenario, the stolen jewelry exceeds the coverage limit, with a total value of $4,300. Similarly, the stolen silverware exceeds the coverage limit, with a total value of $5,600. Therefore, the total amount that would not be covered by insurance is the difference between the coverage limit and the value of the stolen items for each category.

For jewelry, the amount not covered is $3,300 ($4,300 - $1,000), and for silverware, the amount not covered is $3,100 ($5,600 - $2,500). The total amount not covered is $2,900 ($3,300 + $3,100).

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Which policy is a way the SEC protects investors?
O helping investors diversify their portfolios
O guaranteeing the value of certain stocks
O insuring the amounts of people's investments
O requiring companies to disclose financial information

Answers

Helping investors diversify their portfolios is the policy is a way the SEC protects investors. Hence, option A is correct.

What is SEC protects investors?

The Securities Act of 1933, also referred to as the "truth in securities" law, has two main purposes: it requires investors to get financial and other important information about securities that are being offered for public sale; and When selling stocks, refrain from lying, making false assertions, and other types of fraud.

One of the three foundations of the United States is investor protection. the direction of the Securities and Exchange Commission. Maintain a fair, efficient, and structured market. support the creation of capital.

Thus, option A is correct.

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Select the statement below that describes a post-closing trial balance. Multiple choice question.
A. It is a listing of all permanent accounts and their balances after closing.
B. It is a listing of all temporary accounts and their balances after closing.
C. It is a financial statement that describes all revenue and expense accounts after closing,
D. It is a listing of all permanent accounts and their balances immediately after the adjusting process.

Answers

The post closing trial balance is A. a listing of all permanent accounts and their balances after closing.

What is the post closing trial balance?It shows the balances of permanent accounts (balance sheet items) at the closing of the reporting period. Helps compare debits to credits.

The post closing balance sheet allows a company to balance its accounts by comparing the balances on the debit side with the credit side. Adjustments can then be made.

In conclusion, option A is correct.

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It is easier to increase the supply of chocolate than the supply of cocoa beans. Do you agree with this statement? Give reasons for your answer.

Answers

Answer:

I agree.

Explanation:

On average cocoa trees need around 4-5 years before they eventually bear fruit and can produce cocoa beans. On the other hand, producing chocolates from those cocoa beans need around 5-8 days.

compared to producing chocolate, producing cocoa beans require more long-term planning and investment, which make it harder to suddenly increase the supply of the beans.

What company/product that's good to invest in? What are the
advantages of investing in it and the disadvantages?

Answers

It's important to conduct thorough research and analysis before making any investment decisions. Consider factors such as the company's financial health, & industry trend. Consider advantages or disadvantages specific to each investment opportunity.

Investment plays a crucial role in the economy and personal finance for several reasons. Firstly, it promotes economic growth by stimulating business expansion, innovation, and job creation. Secondly, it allows individuals to grow their wealth and achieve long-term financial goals such as retirement planning or education funding. Thirdly, investments can provide a hedge against inflation and preserve purchasing power over time. Additionally, investing diversifies income sources and reduces reliance on a single income stream. Lastly, investments can generate passive income through dividends, interest, or rental payments.

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Other Questions
Write an equation in slope-intercept form of the line that passes through the given point and is parallel to the graph of the given equation. (-2,-3); y=-4+2 Johnella has been the sole (one hundred percent (100%)) shareholder of Carolyn Corporation, a calendar year S Corporation, since 1981. At the end of 2021, Johnella's basis in her stock is $15,500 and she receives a distribution of $19,000 from Carolyn Corporation. Corporate level accounts of Carolyn Corporation are as follow: Accumulated Adjustments Account (AAA) - $6,000; Previously Taxed Income (PTI) - $9,000; Accumulated Earnings And Profits (AEP) - $600. How is Johnella taxed on the distribution? a A $600 Taxable Dividend and a $2,000 Long-Term Capital Gain. b A $3,600 Taxable Dividend. c A $600 Taxable Dividend and a $2,900 Long-Term Capital Gain. d A $600 Taxable Dividend and a $2,500 Long-Term Capital Gain. The air temperature is 20C. You are swimming underwater when you hear a boat noise. Then, 3.5 s later, you hear a crash. If the speed of sound in water is 1450 m/s, how long after you hear the crash does your friend on the dock beside you hear the crash? The area of the triangle is no more than 32 square inches. Select and inequality that represents a -3x > 24 on a number line Adding acidic fruits to a gelatin salad will decrease the pH and result in a salad that is too_________.a. softb. rubberyc. firmd. sweet By what process do oak leaves harness energy from the sun Fred was purchasing rice for his restaurant for the week. He usually makes 150 dishes a week with rice and each portion is 5 ounces. How many pounds of rice should Fred purchase for the week? Find the equation of line through (-15,9) with slope 4/5 in slope-intercept form. What is everything to know about chemical bonding? In the coordinate plane shown below, which pointcould have coordinates (3,-2) ?A.B.C.D. At a dog breeder's property, 25 of the 60 dogs are black Labradors. This is 23 of the total black dogs.How many black dogs are there in total? All of the following are true about prokaryotic cells EXCEPT: a Prokaryotic cells are smaller than eukaryotic cells. b They do not contain DNA. c They have no membrane-bound organelles. d They have ribosomes and a cell membrane. e They are found in two domains: Bacteria and Archaea. The sound level of a jet plane is approximately 140 dB. The intensity of the sound of a jet plane is approximately . Francisco: Es grande Your answer familia, Antonio?Antonio: S, Your answer familia es muy grande. Somos ocho personas. Y Uds., es grande Your answer familia?Francisco: No, Your answer: familia no es muy grande. Somos cinco.Linda: Pero Your answer: ? padres tienen familias grandes. Nuestra madre tiene seis hermanas y Your answer: ? padre tiene cuatro hermanos.Antonio: Muy interesante, Linda. De dnde es Your answer tu madre?Linda: Your answer Mi madre es de Mxico, de Zacatecas. Y Your answer: ? padres? De dnde son ellos?Antonio: Your answer:? padres son de Canad, pero Your answer: ? padres (mis abuelos) son de Espaa. 10Wax melts when it is heated. Which most likely describes what is true of the result of this reaction? configure an attribute selector for the submit button. place this in the second column with the grid-column property. set width to 9em Both in-process supermarkets and first-in-first-out (FIFO) lanes are compromises to true continuous flow. Which problem-based nursing care plan will the nurse indicate as priority for the child following cardiac surgery for tetralogy of fallot? Colin slices a cake into 8 equal-sized slices. He and his friends eat 5 slices of the cake.What fractional part of the cake do Colin and his friends eat?