Accepting the gift from the supplier, Mrs. Hannah, may potentially violate the IIA Code of Ethics. The IIA's Code of Ethics sets forth principles and rules that internal auditors should adhere to, including integrity, objectivity, confidentiality, and professional competence.
Accepting a gift of significant monetary value from a supplier could compromise an auditor's objectivity and raise concerns about independence. It may create a perception of a conflict of interest or the potential for undue influence on procurement decisions.
Mrs. Hannah's actions could be considered a bribe depending on the intent behind the gift. If the gift was given with the expectation or intention of influencing Mr. Ryan's procurement decisions, it could be seen as an attempt to secure an unfair advantage or gain favor. Bribery involves offering or receiving something of value with the intent to influence or obtain an improper advantage. However, without more information about the circumstances and intentions, it is difficult to definitively determine whether Mrs. Hannah's actions constituted a bribe.
Whether Mr. Ryan will be banned from being a Certified Internal Auditor (CIA) would depend on the specific policies and guidelines of the organization and the regulatory body governing the CIA designation. Generally, a single instance of accepting a gift may not automatically result in a ban from the CIA designation. However, if Mr. Ryan's actions are found to be in violation of the IIA Code of Ethics or other professional standards, it could lead to disciplinary action, including the possibility of losing the CIA designation. It is advisable for Mr. Ryan to consult the relevant professional guidelines and seek guidance from his organization's internal audit or ethics department to understand the specific consequences he may face.
The dilemma of whether Mr. Ryan should accept the gift revolves around the potential ethical conflicts and risks involved. On one hand, accepting the gift could create a perception of bias, compromise professional integrity, and undermine the trust and credibility of the procurement process. On the other hand, refusing the gift could strain the relationship with the supplier and potentially impact future business dealings. Mr. Ryan should consider seeking guidance from his organization's ethics or compliance department, consulting the IIA Code of Ethics, and weighing the potential consequences before making a decision. It is essential for him to prioritize ethical conduct and act in accordance with the principles of integrity and objectivity to maintain professional standards and public trust.
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four descriptive terms describing possible experience a person may have
1) John has had instructors that have improved her coding skills.
2) Adam has traveled to many different parts of the world.
What do personal competencies entail in a job?Personal skills, often known as interpersonal or people skills, are a category of soft skills that deal with how a person communicates and interacts with others as well as their surroundings. It can be more difficult to master personal skills. Some of them are dependability, flexibility, problem-solving, and communication.
To submit an effective job application, you must be aware of these talents and how demonstrate that you have acquired them. Interpersonal aptitude increases approachability, likeability, and comfort. Strong interpersonal communication abilities are a quality that managers strive for when leading their teams. They give employees the impression that they can approach their managers with any issues or worries, which is crucial.
3) Joseph has worked at Apple for 15 years.
4) Mary is a good leader and has a capacity for teamwork.
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The complete question is:
Create a bulleted list of four descriptive terms describing possible experience a person may have in job or business.
in the semisubsistence economy that existed in the american backcountry, money was seldom seen and was used primarily to
In the semisubsistence economy that existed in the American backcountry, money was seldom seen and was used primarily to purchase luxury items and manufactured goods from other parts of the world.
A semisubsistence economy is one in which the production of goods is primarily for the purpose of personal consumption rather than for sale or trade. As a result, there is little surplus production available for trade or sale. Money was seldom seen in such economies, and when it was seen, it was primarily used to purchase luxury items and manufactured goods from other parts of the world.
The American backcountry was a region of the United States that was sparsely populated and located west of the Atlantic seaboard during the colonial era. This region was characterized by a semisubsistence economy, which was based on small-scale agriculture, hunting, and fishing, as well as the production of goods for personal consumption rather than for sale or trade.
Money was seldom seen in this economy, and when it was seen, it was primarily used to purchase luxury items and manufactured goods from other parts of the world.
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Use these graphics to answer the question.
An association of medical researchers examined exercise trends among adults.
pls help need an answer fast
Which ratio shows the relationship between the total percent of people who exercised in 2014 to the percent of adults ages 18–24 who exercised in 2016?
47:42
58:45
48:59
48:50
The ratio that represents the relationship between the total percent of people who did exercise in 2014 compared to the the percent of adults ages 18–24 who exercised in 2016 is 48:59.
What is a ratio?A ratio is the comparison of two figures, this can be done with the past data, or can be done with the budgeted or any competitor. In the example given the data is compared with the past data, base year is 2014 and the current year is 2016.
The ratio that is calculated represents that the total percentage of people were 48% in 2014 and the adults in 2016 as a total represents a percentage of 59% and therefore the ratio is 48:59.
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WILL GIVE BRAINLIEST!!! Jake has been distribution manager at his company for over ten years. Unfortunately, the company has experienced a decline in profit and they are fighting to stay in business. Jake has to schedule a shipment very quickly over the next couple of weeks. Would an aircraft be a good choice for jake? why or why not? if not, provide a better alternative.
Answer:
I say yes because the shipment will get their faster, and the faster the shipment gets there the faster he gets the money to save the business.
How important is money
Answer:
very important
Explanation:
money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.
3) What is the present value of $1000, received at the end of 4 years of investment, with a discount rate of 4%?
Answer:
$854.81
Explanation:
The formula for calculating the present value is as below
PV = FV/( 1 + r)^n
Where Fv =1000
r = 4% or 0.04
n= 6
PV = $1000/ (1 + 4/100)^4
PV=$1000/(1 + 0.04)^4
PV=$1000/1.16985
PV =$854.81
.
Answer:
3629.9
Explanation:
I just did the test and thats what it told me the correct answer was.
How does the price of oil impact the price of food?
Answer:
The price of Oil effect the price of food because it all works together in the economy/system
Explanation:
A computer costs $500 in the United States. The same model costs €570 in France. If purchasing power parity holds, what is the spot exchange rate between the euro and the dollar? Do not round intermediate calculations. Round your answer to two decimal places. 1 euro =.....................$
The spot exchange rate between the euro and the dollar is: 1 euro = $1.14
How to find?According to purchasing power parity, the cost of living should be the same in the United States and France. Since the same computer model costs $500 in the US and €570 in France.
Therefore, we can assume that the exchange rate between the euro and dollar should be €1 = $x, where x is the exchange rate (unknown).
Now, we can set up a proportion of the exchange rates: $500 / $ = €570 / x.
We can cross-multiply the above equation to solve for x:$500x = 570$x = €570 / $500.
So, the spot exchange rate between the euro and the dollar is:1 euro = $1.14 (approx.)
Hence, the required answer is: 1 euro = $1.14 (approx.)
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1. Assume that Alice wants to send Bob a message with the confidence that Bob will know the message was not altered while in transit. What goal of cryptography is Alice trying to achieve? And how can it be achieved?
Alice is trying to achieve the goal of ensuring message integrity through cryptography. Message integrity ensures that the message remains intact and has not been altered during transit.
To achieve message integrity, Alice can use a cryptographic technique called message authentication codes (MACs) or digital signatures.
Message Authentication Codes (MACs): Alice can generate a MAC for the message using a symmetric key shared with Bob. The MAC is a small piece of data generated using a cryptographic hash function and the shared key. Alice appends the MAC to the message before sending it to Bob. Upon receiving the message, Bob recalculates the MAC using the same key and verifies that it matches the MAC sent by Alice. If the MACs match, Bob can be confident that the message has not been tampered with.
Digital Signatures: Alternatively, Alice can use digital signatures, which provide message integrity along with authentication. Alice generates a digital signature for the message using her private key (part of a public-private key pair). The signature is unique to the message and provides a cryptographic proof of its integrity. Alice sends both the message and the digital signature to Bob. Upon receiving the message, Bob uses Alice's public key to verify the signature's authenticity and integrity. If the signature is valid, Bob can be confident that the message is unaltered and originated from Alice.
Both MACs and digital signatures provide cryptographic mechanisms to achieve message integrity and assure Bob that the message has not been modified during transit. The choice between MACs and digital signatures depends on the specific requirements and security context of the communication scenario.
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Insurance is an example of a(n)_______
A) fixed cost
B) opportunity cost
C) variable cost
D) none of the above
Answer:
Based on my research I believe that the answer is 'A. Fixed Cost'.
Explanation:
I hope this was helpful, have a blessed day.
ANSWER
Based on my research I believe that the answer is A- Fixed cost
Explanation
Fixed cost are those cost which are not output dependent .
Fixed cost are fixed till certain level of output.
Fixed cost per unit charges with output.
I hope this was helpful
What is Altman Model z-score?
The Altman Model z-score is a financial model used to predict the probability of a company going bankrupt within the next two years. It was developed by Edward Altman in 1968 and is based on a combination of five different financial ratios.
The model assigns a weighted score to each of these ratios and then combines them to create an overall z-score. The higher the z-score, the less likely the company is to go bankrupt. The formula for calculating the Altman Model z-score is as follows:
Z-score = 1.2A + 1.4B + 3.3C + 0.6D + 1.0E
Where:
A = Working capital / Total assets
B = Retained earnings / Total assets
C = Earnings before interest and taxes / Total assets
D = Market value of equity / Total liabilities
E = Sales / Total assets
A company with a z-score above 2.96 is considered to be financially healthy and at a low risk of bankruptcy. A company with a z-score below 1.81 is considered to be at a high risk of bankruptcy. A company with a z-score between 1.81 and 2.99 is considered to be in the "grey zone" and at a moderate risk of bankruptcy.
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Which of the following would be a business selling the same thing in another country?
if I'm wrong please give more details? and ice cream parlour?
Answer:
I think cafe or Hotel will be the best business in another county.
What two things do many employers use to judge an employee's performance?
When does the price of an item increase?
Answer:
WHEN TAXES GET HIGH
Explanation:
ZASXSXSXSXSSXSXSXSXSX
Answer:
THE PRICE INCREASE when it have cent
Explanation:
2.01 plus taxes
a flexible budget performance report indicates a sales variance of $200 unfavorable. the variance was likely caused by: multiple choice question. selling units for less than the budgeted price selling more units than budgeted selling units for more than the budgeted price
The variance was likely caused by selling units for less than the budgeted price.
How do you calculate a flexible budget's variance?For instance, a flexible budget model is created with the expectation that the cost per unit will be $100. 800 units were sold in the most recent month, with a $102 average selling price per unit. By multiplying 800 units by $2 per unit, the favorable flexible budget variance for revenue equals $1,600.
What is the difference between the actual sales results and the flexible budget?A flexible budget variation is a calculated discrepancy between the budget that was anticipated and the outcomes. In the aforementioned illustration, the corporation has a goal production capacity of 85%. The estimated or anticipated 212,500 unit sales volume results in a $740,625 profit.
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"A customer in the 28% tax bracket has $4,000 of capital gains and $12,000 of capital losses. How much unused loss is carried forward to the next tax year?"
Answer:
$5,000
Explanation:
Given that:
A customer in the 28% tax bracket has $4,000 of capital gains and $12,000 of capital losses. How much unused loss is carried forward to the next tax year?
Capital gain = $4000
Capital loss = $12,000
Net loss = ( capital loss - capital gain)
Net loss = ($12,000 - $4,000)
Net loss = $8,000
Maximum net loss deductible from taxes In a year is $3000
Net loss - deductible
$8,000 - $3,000 = $5,000
Unused loss carried into the next year = $5,000
TRUE OR FALSE: A mathematics professor at a university would fall under both the Education and Training career cluster and the STEM career cluster.
which of the following statements most accurately provides the underlying rationale for the use of auscultation and percussion as assessment techniques?
Auscultation and percussion analyze interior organs and bodily systems using sound and vibration analyses.
The underlying rationale for the use of auscultation and percussion as assessment techniques is to gather information about the presence, location, and quality of sounds that are produced by various organs or tissues in the body. Auscultation is the process of listening to sounds made by the body, such as the heart, lungs, or stomach, using a stethoscope. The rationale for this technique is to identify any abnormal sounds that might indicate an underlying disease or condition. Percussion, on the other hand, involves tapping the body with the fingertips to produce vibrations that can be felt or heard. The rationale for this technique is to identify the size, shape, and consistency of internal organs or tissues, such as the liver, spleen, or lungs.
In summary, auscultation and percussion are valuable assessment techniques that provide healthcare providers with important information about a patient's health status. By using these techniques, healthcare providers can identify the presence of abnormal sounds or vibrations that might indicate a disease or condition and take appropriate action to address the problem.
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The difference between the historical cost and the net book value (NBV) of a plant asset is the:
a. Residual value of the asset.
b. Depreciation expense for the current period.
c. An estimate of the remaining useful life of the asset.
d. Accumulated depreciation expense on the asset.
e. Estimated replacement cost of the asset.
2. The use of replacement cost of assets for purposes of calculating return on investment (ROI) has the advantage of:
a. Historical accuracy.
b. Being a relevant measure of the level of investment in a continuing business.
c. Objectivity.
d. Consistency with generally accepted accounting principles (GAAP).
e. Avoiding the need for developing estimates of current cost.
Option (d), The difference between the historical cost and the net book value (NBV) of a plant asset is the accumulated depreciation expense on the asset.
The net book value (NBV) of a plant asset is the asset's book value (carrying value) in the balance sheet. It is computed by subtracting the asset's accumulated depreciation from its historical cost. Accumulated depreciation is the total amount of depreciation that has been taken on the asset. On the other hand, historical cost refers to the asset's original cost of acquisition. Therefore, the difference between the historical cost and the net book value (NBV) of a plant asset is the accumulated depreciation expense on the asset.
Option (b), The use of replacement cost of assets for purposes of calculating return on investment (ROI) has the advantage of being a relevant measure of the level of investment in a continuing business.
ROI (Return on Investment) is a financial measure used to assess the profitability of an investment. The replacement cost of assets, which is the cost of replacing an existing asset with a new one of equal or better utility, is used in the calculation of ROI in order to arrive at a more accurate figure. This measure is preferred because it reflects the current cost of the asset and its replacement value. It takes into account inflation and technological changes that could have an impact on the asset's value over time. As a result, the use of replacement cost of assets for purposes of calculating ROI has the advantage of being a relevant measure of the level of investment in a continuing business.
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let the random variable x be the number of tail observed when 4 coins are flipped.(do not use the result of binomial distribution.)
a. what is the sample space?
b. what is the reasonable p.m.f f(x) ?
c. find the mean, variance, and standar deviaton by definition
d. find the mean, variance, and standar deviaton by moment
A random variable is a variable whose possible values are outcomes of a random phenomenon. In this case, let x be the number of tails observed when 4 coins are flipped. The possible values of x are 0, 1, 2, 3, or 4.
a. The sample space is the set of all possible outcomes of flipping 4 coins. Each coin can land either heads or tails, so the sample space is {HHHH, HHHT, HHTH, HTHH, THHH, HHTT, HTHT, HTTH, THHT, THTH, TTHH, HTTT, THTT, TTHT, TTHH, TTTT}.
b. The reasonable p.m.f f(x) is given by:
f(0) = 1/16
f(1) = 4/16
f(2) = 6/16
f(3) = 4/16
f(4) = 1/16
c. To find the mean, variance, and standard deviation by definition, we can use the following formulas:
Mean = Σx * f(x)
Variance = Σ(x - μ)² * f(x)
Standard deviation = √Variance
Using the formulas, we get:
Mean = (0*1/16) + (1*4/16) + (2*6/16) + (3*4/16) + (4*1/16) = 2
Variance = ((0-2)²*1/16) + ((1-2)²*4/16) + ((2-2)²*6/16) + ((3-2)²*4/16) + ((4-2)²*1/16) = 1
Standard deviation = √1 = 1
d. To find the mean, variance, and standard deviation by moment, we can use the following formulas:
Mean = μ = E(x)
Variance = E(x²) - (E(x))²
Standard deviation = √Variance
To find E(x), we can use the formula:
E(x) = Σx * P(x)
Using the formula, we get:
E(x) = (0*1/16) + (1*4/16) + (2*6/16) + (3*4/16) + (4*1/16) = 2
To find E(x²), we can use the formula:
E(x²) = Σx² * P(x)
Using the formula, we get:
E(x²) = (0²*1/16) + (1²*4/16) + (2²*6/16) + (3²*4/16) + (4²*1/16) = 4
Using the formulas, we get:
Variance = E(x²) - (E(x))² = 4 - 2² = 0
Standard deviation = √Variance = √0 = 0
Therefore, the mean, variance, and standard deviation by moment are:
Mean = 2
Variance = 0
Standard deviation = 0
In conclusion, the sample space is the set of all possible outcomes of flipping 4 coins, the reasonable p.m.f f(x) is given by the probabilities of getting 0, 1, 2, 3, or 4 tails, and the mean, variance, and standard deviation can be found by definition or moment.
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how long is the grace period for plus loans
Answer:
ummmmmm I'm not quite sure
examples of credit risk.
Answer:Some examples are poor or falling cash flow from operations (which is often needed to make the interest and principal payments), rising interest rates (if the bonds are floating-rate notes, rising interest rates increase the required interest payments), or changes in the nature of the marketplace that adversely affect
Explanation:
Oriole company gathered the following reconciling information in preparing its June bank reconciliation: Cash balance per books, 6/30= $13400
Deposits in transit =1000
Notes receivable and interest collected by bank =2350 Bank charge for check printing =80
Outstanding checks= 4800
NSF check =450 The adjusted cash balance per books on June 30 is a.$15750. b.$16220 c.$15220 d.$16120
The adjusted cash balance per books on June 30 is $11,500.
To decide the changed money balance per books on June 30, we want to consider the accommodating things gave:
Cash balance per books, 6/30 = $13,400
Stores on the way = $1,000
Notes receivable and premium gathered by bank = $2,350
Bank charge for really look at printing = $80
Remarkable checks = $4,800
NSF check = $450
We start with the money balance per books and make the vital changes.
To start with, we add the stores on the way to the money balance per books:
$13,400 + $1,000 = $14,400
Then, we add the notes receivable and premium gathered by the bank:
$14,400 + $2,350 = $16,750
Then, at that point, we take away the remarkable checks:
$16,750 - $4,800 = $11,950
At long last, we take away the NSF check:
$11,950 - $450 = $11,500
Subsequently, the changed money balance per books on June 30 is $11,500.
The right response is:
d. $11,500
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Yesterday you participated in a job shadowing event (una pasantÃa) where you chose a career person to follow and observe a day in their life.
An internship is an opportunity to experience a job for a day to get involved in all it with all activities required to perform that job.
What is an internship?An internship is a term for a low-paying internship that some professionals do to gain field experience.
The internship we would choose would be one day working in the health sector. For example, we would follow a doctor's routine. In general, one of the advantages of this work is that the doctor helps his patients by providing solutions for their health problems. However, a disadvantage is that in some cases the health of his patients is very deteriorated and he has no way of fully helping them.
What are the five sentences in Spanish related to the internship?1. Seleccionaría una carrera relacionada con el sector de la salud.
2. Seguiría la rutina diaria de un médico.
3. La ventaja de ser medico, es ayudar a sus pacientes a mejorar su salud.
4. La desventaja de ser médico, es que no podemos ayudar de igual manera a todos los pacientes.
5. Esta profesión es muy importante porque se trata de salvar vida y prevenir daños graves.
What information can be obtained in this internship?According to the questions in the statement, I chose the internship with a professional athlete, specifically a cyclist.
In this job there are advantages related to health and well-being that constant exercise brings. However, this is also a problematic aspect because it can cause injuries and discomfort in the body.
Your question is incomplete, but most probably your full question was:
Yesterday you participated in a job shadowing event (una pasantÃa) where you chose a career person to follow and observe a day in their life.
In 5 detailed sentences in Spanish, recount the day's events as best as you can.
Which career did you choose? (seleccionar)
Who did you follow? (seguir)
What is a benefit (ventaja) and a drawback (desventaja) of working in that profession?
Your response must contain at least 5 detailed and complete sentences in Spanish.
Your response needs to be at least 30 seconds in length in Spanish primarily using the preterite tense.
You will be graded on (a) message delivery/comprehension, (b) control of target grammar structures, (c) pronunciation, (d) control of target vocabulary, and (e) task completion per the World Languages Speaking Rubric.
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3. what obstacles kept many african nations from developing strong economies?
Many African nations faced several obstacles that hindered the development of strong economies. Two key obstacles were colonial legacy and structural challenges.
Colonial legacy refers to the impact of colonization on African nations. During the colonial period, African countries were often exploited for their natural resources, which led to a skewed economic structure. The extraction and exportation of raw materials left little room for diversification and industrialization. Additionally, colonial powers often implemented policies that favored their own economies and hindered the development of local industries. Structural challenges include factors such as poor infrastructure, limited access to capital, corruption, and political instability. Inadequate transportation networks, unreliable energy supply, and insufficient telecommunications systems made it difficult for businesses to operate efficiently. Limited access to capital and financial services posed challenges for entrepreneurs and inhibited investment and growth. Corruption and political instability created an uncertain business environment, deterring both domestic and foreign investors. Moreover, the lack of skilled labor, inequality, and dependence on primary commodities further contributed to economic challenges. Insufficient investment in education and training resulted in a shortage of skilled workers, limiting productivity and innovation. High levels of inequality exacerbated social and economic disparities, hindering inclusive growth. Reliance on the export of primary commodities made economies vulnerable to price fluctuations and external shocks. Addressing these obstacles requires comprehensive strategies focused on economic diversification, investment in infrastructure and education, improved governance and anti-corruption measures, and promotion of inclusive growth. By tackling these challenges, African nations can create more favorable conditions for developing strong and sustainable economies.
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Which type of advertising is important for mature, established brands?
For mature, established brands, it is important to focus on maintaining brand awareness and loyalty. This can be achieved through consistent and strategic advertising efforts such as television commercials, print ads in industry publications, and targeted online advertising.
It is also important for established brands to continue to innovate and differentiate themselves from competitors in order to stay relevant and attract new customers. Therefore, advertising that highlights the brand's unique selling proposition and key differentiators can also be effective for mature brands.
Brand awareness refers to the extent to which consumers are familiar with and recognize a particular brand. It represents the level of visibility and recognition that a brand has among its target audience. Building and increasing brand awareness is a crucial objective for businesses as it directly influences consumer perception, brand equity, and purchase decisions.
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consumer federation of america. "credit card debt imposes huge costs on many college students." consumer federation of america. consumer federation of amer., 8 june 1999. web. 4 mar. 2001.
The statement suggests that credit card debt imposes significant costs on many college students. This is a common concern in personal finance, as college students may be more susceptible to accumulating credit card debt due to factors such as limited income, lack of financial literacy, and easy access to credit.
Credit card debt can lead to several negative consequences for college students. It can result in high-interest payments, which can become burdensome and make it difficult for students to manage their finances effectively. Additionally, excessive credit card debt can impact their credit scores, making it harder to secure loans or favorable interest rates in the future.
It's important to be aware of the potential risks associated with credit card debt and practice responsible borrowing habits. This includes using credit cards wisely, making timely payments, and keeping debt levels manageable.
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Michelle needs to view and delete macros in a document. Which steps should she follow to perform this action?
Under the Developer tab, click the Macros button in the Code group, select the macro to delete, and press Delete.
What is the Macros button?
An alternative to keystrokes is the macro key. A key sequence is a set of keyboard, mouse, or menu operations connected to a command. Moreover, a program can be easily launched by pressing the macro key.
Michelle should follow these steps -
Open the document where the macros are located.
Click on the Developer tab.
In the Code group, click the Macros button.
A dialog box will appear, displaying the list of macros in the document.
Select the macro that needs to be deleted.
Press the Delete button.
It's worth noting that the other options are not correct steps. Pressing Alt+F8 will bring up the Macro dialog box, but it won't allow to delete macros. Pressing Alt+F11 will open the Visual Basic Editor, but it won't allow to delete macros either.
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What safety device should be worn when there is danger of fragments being thrown?
Answer:
gloves i think
Explanation:
You are the owner of a local Honda dealership. Unlike other dealerships in the area, you take pride in your "No Haggle" sales policy. Last year, your dealership earned record profits of $1.5 million. However, according to the local Chamber of Commerce, your earnings were 10 percent less than either of your competitors. In your market, the price elasticity of demand for midsized Honda automobiles is 4.5. In each of the last five years, your dealership has sold more midsized automobiles than any other Honda dealership in the nation. This entitled your dealership to an additional 30 percent off the manufacturer’s suggested retail price (MSRP) in each year. Taking this into account, your marginal cost of a midsized automobile is $11,000. What price should you charge for a midsized automobile if you expect to maintain your record sales?
Answer:
$11880
Explanation:
Given that:
In a local Honda Dealership;
Last year, your dealership earned a record profits of $1.5 million
according to the local Chamber of Commerce, your earnings were 10 percent less than either of your competitors.
The Price Elasticity of demand E = - 4.5
Marginal cost of a midsized automobile = $11,000
Let assume that In your market, you compete against two other dealers
From The above given data , the objective is to determine the What price should you charge for a midsized automobile if you expect to maintain your record sales.
So; in order to achieve that ; we consider the scenario of an Oligopoly market by using the markup formula for homogeneous product Cournot Oligopoly which can be represented as:
\(P = (\dfrac{n*E}{1+ n*E})*MC\)
\(P = (\dfrac{3*(-4.5)}{1+(3*-4.5)})*11000\)
\(P = (\dfrac{-13.5}{1+(-13.5)})*11000\)
\(P = (\dfrac{-13.5}{-12.5})*11000\)
P = 1.08 × 11000
P = $11880
Hence. the price you should charge for a midsized automobile if you expect to maintain your record sales is $11880