As per the credit policy of Xtreme Co., we offer credit with terms of n/30.
To account for the possibility of uncollectible accounts, we use the allowance method. This method allows us to estimate the amount of accounts receivable that may not be collected and set aside a reserve for them.
In our case, we estimate that 1% of our credit sales may become uncollectible. We set aside a reserve for this amount and adjust it periodically based on our actual experience with bad debts. This reserve is reported on our balance sheet as a contra asset account called the allowance for doubtful accounts.
The amount of accounts receivable reported on our balance sheet is net of the allowance for doubtful accounts. This means that we report the estimated amount of accounts receivable that we expect to collect, less the estimated amount that may become uncollectible.
I hope this explanation helps you understand how we account for uncollectible accounts and report this information in our financial statements.
Best regards,
Ginny
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One of the most important decisions faced by a client organization is to decide which tasks will be
outsourced and which tasks will be performed in-house by the client. Of the following factors,
______ is the least influential in deciding upfront whether to subcontract parts of a project to outside parties.
a. speed
b. quality
c. relationship to subcontractors
Option (c), The least influential factor in deciding upfront whether to subcontract parts of a project to outside parties is the relationship to subcontractors.
When deciding which tasks to outsource, speed and quality are usually the primary factors that clients consider. They want to ensure that the project is completed quickly and efficiently, without sacrificing quality. However, the relationship to subcontractors may also be a factor, especially if the client has worked with the subcontractor before and has established a good working relationship. Nevertheless, compared to speed and quality, the relationship to subcontractors is usually the least influential factor in deciding upfront whether to subcontract parts of a project to outside parties. Ultimately, the decision to outsource tasks or keep them in-house depends on a variety of factors and should be carefully considered by the client organization.
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Which of the following statements best characterizes the bottom line of security for e-commerce?
A) Good security is expensive but critical, and it is the responsibility of the customer to ensure that his or her private information is secure.
B) Good security is inexpensive but critical, and it is the responsibility of the customer to ensure that his or her private information is secure.
C) Good security is expensive but critical, and it is the responsibility of the business to ensure that the customer's private information is secure.
D) Good security is inexpensive but critical, and it is the responsibility of the business to ensure that the customer's private information is secure.
Answer:
Good security is expensive but critical, and it is the responsibility of the business to ensure that the customer's private information is secure. C
Explanation:
If the rate of inflation in Japan dramatically increases while the rate of inflation in the United States remains constant, then a. the demand curve for dollars shifts to the left. b. the demand curve for yen shifts to the right. c. the demand curves for both yen and dollars remain constant. d. the demand curve for dollars shifts to the right.
Answer:
a
Explanation:
Inflation is a persistent rise in the general price levels
Types of inflation
1. demand pull inflation – this occurs when demand exceeds supply. When demand exceeds supply, prices rise
2. cost push inflation – this occurs when the cost of production increases. This leads to a reduction in supply. Higher prices are the resultant effect
When inflation increases , the value of currency falls
As a result of the inflation, the value of japans currency would fall.
As a result, it would become more expensive to purchase dollars by those in japan. Thus the demand for dollar would reduce and it would shift to the left
Which of the following statements about the relationship between the financial market and the
economy is TRUE?
A. The financial market helps the economy grow.
B. The financial market only benefits companies in the economy.
C. The goods and services market influences the economy more
than the financial market.
D. There is no relation between the financial market and the
economy
Answer:
C
Explanation:
that makes sense more shdjdjjd
what is the first step in the comprehensive strategic-management model
The first step in the comprehensive strategic management model is typically conducting a thorough analysis of the organization's internal and external environment.
This initial step involves evaluating the organization's strengths, weaknesses, opportunities, and threats (SWOT analysis), assessing its competitive position, and understanding the broader industry and market dynamics. By conducting a detailed analysis, decision-makers gain insights into the internal resources, capabilities, and limitations of the organization, as well as the external factors that may impact its performance. This information serves as the foundation for formulating effective strategies and making informed decisions. Understanding the organization's current state and the external landscape is crucial for setting objectives, identifying strategic options, and aligning the strategic management process with the organization's vision and goals.
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On the statement of cash flows, the investing activities section would include a.cash paid for retirement of bonds payable b.cash received from the issuance of capital stock c.cash paid for dividends d.cash received from the sale of investments
What else did sharon do to avoid future overdraft fees?.
To avoid overdraft fee, Sharon signed up for alerts by email and text to know when her account balance is lower than a certain amount.
What is an overdraft?It should be noted that an overdraft simply means a loan that's provided by a bank which allows a customer to pay for bills when the account reaches zero.
In this case, in order for Sharon do to avoid future overdraft fees, we can signed up for alerts by email and text to know when her account balance is lower than a certain amount.
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Payroll Statement Definition
A payroll statement is a list that contains details of the salaries and the wages paid out to the employees of an organization for a specific period of time. The list of employees, the amounts paid out to them, and the deductions made would ideally be included in a payroll statement.
A payroll statement is a list that includes information on the wages and salaries given to employees of an organisation for a specified time period.
The ideal payroll statement would contain the list of employees, the sums paid to them, and the deductions made. A Payroll Statement typically contains information about the employees of an organisation. Various payroll elements paid to all employees are tabulated on a payroll statement.
It can be organised by department, place, title, etc. The employee number, department, or cost centre can be used to sort the payroll statement. The Payroll Statement report can be used to create a report for a particular Pay Head or Ledger.
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Why is internal control over cash important? Check all that apply.
- the elevated risk of theft
- the high volume of cash transactions
- the inherent lack of segregation of duties
- the infeasibility of document procedures
Except for option C. All that apply Internal controls must be in place to protect these assets and ensure that only authorized individuals have access to them.
What is Internal Control?Internal control is a procedure implemented by a company's board of directors, management, and other staff members and intended to give reasonable assurance that the information is trustworthy, accurate, and timely. of adherence to relevant laws, rules, contracts, policies, and procedures.
Thus, Internal control is crucial when it comes to cash because it is susceptible to theft or loss. Because of the enormous volume of cash transactions, there is always always a very high risk of theft, which is prevented by the separation of roles and the impossibility of document procedures.
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What happens to the price and quantity of churro waffles if the price of brown sugar decreases?.
Answer:
The price of the churro waffles will go up and the quality will go down.
If the price of brown sugar decreases, then the price of churro waffles will decrease and quantity will increase.
How quantity is affected by price changes?The quantity that customers desire is determined by the price of an item or service in a market. When non-price elements are taken out of the equation, it follows that higher prices lead to lower quantities demanded and lower prices lead to larger quantities desired. As a result, according to the rule of demand, there is an inverse connection between a product's price and the quantity that is desired for it.
A drop in the cost of the good leads to an increase in the amount required (and vice versa). The amount wanted and any market price is represented by a demand curve. A shift along a demand curve is used to illustrate a change in the amount required.
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which of the following would not be considered a cost of sheryl's sweeties cupcake business? a.the cost of pans, utensils, and other baking equipment b.the cost of sugar, flour, and other baking materials c.the price buyers are willing to pay for sheryl's cupcakes d.the $15 per hour wage sheryl could earn working at a different job if she didn't have her cupcake business
A. The cost of pans, utensils, and other baking equipment
B. The cost of sugar, flour, and other baking materials
C. The price buyers are willing to pay for Sheryl's cupcakes
D. The $15 per hour wage Sheryl could earn working at a different job if she didn't have her cupcake business
The following would not be considered a cost of Sheryl's Sweeties cupcake business: The price buyers are willing to pay for Sheryl's cupcakes. A cost is the amount of money required to produce or purchase something. It is the amount of money or time required to produce or purchase something. It's important to keep track of costs because it can help you figure out how much to charge for a product or service. Sheryl's Sweeties is a cupcake business.
A business has costs that must be taken into account to produce a profit. The following items would be considered a cost of Sheryl's Sweeties cupcake business:a. The cost of pans, utensils, and other baking equipmentb. The cost of sugar, flour, and other baking materialsc. The $15 per hour wage Sheryl could earn working at a different job if she didn't have her cupcake business
.However, the price buyers are willing to pay for Sheryl's cupcakes would not be considered a cost of her business because it is revenue or income, not an expense. This income is used to cover Sheryl's costs and increase her profit.
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Successful entrepreneurs have mindsets that typically possess which three
characteristics? (Choose Three)
Responsible
Adaptable
Nervous
Argumentative
Tenacious
5
Successful entrepreneurs have mindsets that typically possess three characteristics and that is being responsible, adaptable and tenacious. Thus, the correct options are the 1). Responsible, 2). Adaptable and 3). Tenacious.
What are the characteristics of a successful entrepreneur?An entrepreneur refers to an individual who set up a new business, bear most of the risks and enjoy most of the rewards. The process of establishing a business is known as entrepreneurship.
For being a successful entrepreneur, an individual must possess significant characteristics such as passion, open-minded, creativity, risk-taking, approachable, professionalism, knowledge, skills etc.
Basically, an entrepreneur must be capable to handle all the responsibilities in well efficient way.
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Which of the following is an example of an effective persuasive speech topic for a group of elementary school children? (edge 2022)
a.
the origins of Santa Claus in different cultures around the world
b.
abstinence: the best protection
c.
read at least 20 minutes a day
d.
staying in school is cool
On November 1, 2022, a company using acerual accounting. pays $900,000 for a television advertising campaign. Commercials will run evenly over six months beginning on November 1, 2022. How much Advertising Expense will be reported on an income statement prepared for the year ended December 31,2023 ?
A. $900,000
B. $600,000
C. $450,000
D. $300,000
The correct option is B. Advertising Expense will be reported on an income statement prepared for the year ended December 31, 2023, is $600,000
Advertising Expense from jan1 to April 31st = \(\frac{90000}{6} *4 = 600,000\)
An expense refers to any cost incurred in the course of conducting operations and generating revenue. Expenses can include a wide range of costs, such as salaries and wages, rent, utilities, office supplies, advertising, and travel expenses.
Expenses are a critical component of a company's financial statements, as they directly impact the company's profitability. Managing expenses is essential to ensuring that a business remains profitable and financially sustainable.
Expenses are typically recorded in an accounting system and are categorized based on their nature and purpose. They are reported on a company's income statement and deducted from revenue to calculate the company's net income or loss. It's important for businesses to monitor and control their expenses, to prevent overspending and maintain financial stability. Effective expense management can help companies improve their profitability, manage cash flow, and make informed business decisions.
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What is the informal economy? how many people in the world's economy work in "system d"? what are some of the advantages of the informal economy? what are some of the disadvantages of the informal economy? does the united states have an informal economy? why or why not?
Answer:
Depending where you look for information, informal economy can cover a lot of different jobs and industries. The informal economy doesn't pay taxes and it is excluded in the gross domestic product. Some organizations include other industries under the informal economy, specially those that are not regulated or adequately controlled by the government. This includes many people who are self-employed or even employees that perform unprotected jobs. E.g. companies that hire poor or illegal immigrant workers and pay them on a daily basis.
According to the International Labor Organization, more than 61% of the world's population works under informal economies.
Some advantages of informal economies are:
higher income resulting from not paying taxes (even on a personal level, if you are able to work and earn a living but do not pay taxes, your personal net income will be higher than if you actually paid taxes). a lot of people are part of it, that means large scale employment.Informal economies tend to have serious disadvantages because the most powerful tend to abuse form the least powerful:
child labor or even forced labor unprotected jobs, e.g. no social security, no health care benefits, no safety at work, etc.Approximately 11-12% of the US economy is considered informal, and that represents almost $2.5 trillion per year. Some normal activities are included in the informal economy although we never think about them as being out of the system, e.g. babysitting, landscaping and cleaning services, etc. Other informal activities are more obvious, e.g. prostitution, drug dealing, theft, etc.
The Pohl Pool Company has six jobs waiting to be processed through its liner department. Processing can start immediately. Total Remaining Processing Time (Days) Due Date (Days from Now Total Remaining Number of Operations Job 13 2 10 12 a. If the slack per operation scheduling rule is used, in what order would the jobs be started? b. What is the mean lateness (in days) of the sequence calculated in question a? c. What is the mean tardiness (in days) of the sequence calculated in question a? d. What is the average number of job in the system using the sequence in question a?
The average number of jobs in the system is the sum of the jobs in the system on each day divided by the number of days, which is (1+2+3+3+2+2+2+2+1+1+1+1+1) / 13 = 1.69 jobs.
The Pohl Pool Company has six jobs to be processed in its liner department.
The company can start processing immediately, but they need to consider the total remaining processing time and due date for each job. To determine the order of processing, the slack per operation scheduling rule is used.
After applying this rule, the order of jobs is determined. The mean lateness and mean tardiness of the sequence are then calculated. Additionally, the average number of jobs in the system using the sequence is determined. These metrics help the company to better understand the efficiency of their liner department and to plan their operations accordingly.
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Adoption of ASC Topic 842 related to leases represents a Multiple Choice o voluntary change in accounting principle.o mandatory change in accounting estimate. o voluntary change in accounting estimate. o mandatory change in accounting principle. Which of the following accounting principle changes typically is reported prospectively? Multiple Choice o Adopting ASC topic 606 on revenue recognition on the standard's effective date. o Changing inventory method from LIFO to FIFO.o Changing inventory method from FIFO to LIFO.o Changing reporting of investments from the equity method to the fair value method. ASC Topic 606 on Revenue Recognition requires which transition method? Multiple Choice o Modified retrospective approach o Full retrospective restatement o Retrospective restatement or prospective approach o Full retrospective restatement or modified retrospective approach
Adoption of ASC Topic 842 related to leases represents D. mandatory change in accounting principle.
What exactly is ASC 842 adoption?According to the ASC 842 standard for GAAP lease accounting, all leases lasting more than 12 months must be recorded as assets and liabilities on balance sheets. This new standard was developed by the Financial Accounting Standards Board (FASB) to promote greater transparency between investors and businesses.
A contract is or contains a lease if the contract conveys the right to control the use of identified property, plant, or equipment (an identified asset) for a period of time in exchange for consideration," states ASC 842-10-15-3.
A change in accounting principle may be required by newly issued guidance or as a result of the reporting entity's decision to adopt a different accounting principle because it is preferable.
Therefore, based on the information, the correct option is D.
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A market ____ analyst studies prevailing market trends and forecasts potential sales for a product.?
Explanation:
A market ____ analyst studies prevailing market trends and forecasts potential sales for a product.?
on may 22, jarrett company borrows $7,500, signing a 90-day, 8%, $7,500 note. what is the journal entry made by jarrett company to record the payment of the note on the maturity date? multiple choice debit notes payable $7,500; credit interest expense $150; credit cash $7,350. debit notes payable $7,500; credit cash $7,500. debit notes payable $7,650; credit cash $7,650. debit notes payable $7,500; debit interest expense $150; credit cash $7,650. debit cash $7,650; credit interest revenue $150; credit notes receivable $7,500.
Option A is incorrect because it does not account for the interest expense that was accrued. Option B is the correct answer. Option C is incorrect because it overstates the payment amount. Option D is incorrect because it incorrectly separates the interest expense from the notes payable. Option E is incorrect because it involves notes receivable instead of notes payable.
The journal entry made by Jarrett Company to record the payment of the note on the maturity date would be:
Debit: Notes Payable $7,500
Credit: Cash $7,650
Credit: Interest Expense $150
The reason for this is that when the note was initially borrowed, it was recorded as a liability under Notes Payable. This liability was then accruing interest at a rate of 8% for a period of 90 days. When the note reaches its maturity date, Jarrett Company is obligated to pay back the principal amount of $7,500 plus the interest that has accrued over the 90-day period, which is $150 (8% x $7,500 x 90/360).
Therefore, the debit to Notes Payable for $7,500 represents the payment of the principal amount, while the credit to Cash for $7,650 represents the amount paid by Jarrett Company to fully satisfy the note. The additional credit to Interest Expense for $150 represents the interest expense that was accrued over the 90-day period.
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Mike was always interested in being popular, so during his sophomore year in high school he began to use marijuana so he would fit it. After using it for little over a year, he began to need it to relax and also needed more to get the same effect. He then started to use cocaine to get a similar high. He noticed that when he was not under the influence of the drug, he felt irritable and anxious. When Mike stopped using cocaine, his physical state was exhibiting...?
When Mike stopped using cocaine, his physical state was exhibiting withdrawal symptoms.
Withdrawal symptoms are a set of physiological and psychological symptoms that occur when a person abruptly stops or reduces their use of a substance on which they have developed dependence. In the given scenario, Mike had been using cocaine for a significant period of time and had developed a dependence on the drug. The withdrawal symptoms that Mike experienced when he stopped using cocaine could include:
1. Physical symptoms: These may include fatigue, tremors, sweating, chills, increased appetite, and changes in sleep patterns.
2. Psychological symptoms: Mike may experience irritability, restlessness, anxiety, depression, mood swings, and cravings for the drug.
Withdrawal symptoms can vary in intensity and duration depending on various factors such as the duration and frequency of drug use, individual physiology, and the specific substance used. It is important to note that drug withdrawal can be a challenging and uncomfortable process. If someone is experiencing withdrawal symptoms or trying to quit drug use, it is recommended to seek professional help and support from healthcare providers or addiction treatment specialists.
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This week we focus on what non-executives need to know regarding technology. Especially in regard to innovation technology. Please note some key foundational factors that non-executives need to know and understand regarding technology. Also, note how non-IT departments interact with IT and how the change in the market will change how business is performed.
i don't know the answer ,,,,,,,,,
In which mode(s) of transportation do companies often employ teams of two drivers, either in tandem or sequentially, to increase efficiency?
air transportation
rail transportation
road transportation
water transportation
Most transport-based companies employ teams of two drivers in an air mode of transportation to increase efficiency.
What is an air mode of transportation?This transportation are performed by aircraft for the public carriage of passengers, baggage, cargo, mail etc for exchange of remuneration or hiring. It is considered to be the fastest modes of public transport which connects international boundaries.
As a matter of fact, the presence of two pilots on a plane make coordination much easier because one pilot can concentrate on the flight and the other completes the checklist. Therefore, an increased efficiency is achieved.
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Answer:
ROAD transportation often employs teams of two drivers to increas efficiency.
Explanation:
common sense tbh
The provision of several types of financial services by one firm may be beneficial because of:__________
The provision of several types of financial services by one firm may be beneficial because of the economies of scope and problematic because of conflicts of interest.
What is called a financial services?The sector that provides the financial services belongs to the segment of the economy that is made up of a variety of financial firms including banks, investment houses, lenders, finance companies, real estate brokers, insurance companies etc.
Mainly, the financial services make up one of the economy's most important and influential sectors; it is also the broad range of more specific activities such as banking, investing, and insurance but it is limited to the activity of financial services firms and their professionals, while financial products are the actual goods, accounts, or investments they provide.
However, in conclusion, the provision of several types of financial services by one firm may be beneficial because of the economies of scope and problematic because of conflicts of interest.
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A random sample of 10 students contains the following observations, in hours, for time spent studying in the week before the final exam: 28, 57, 42, 35, 61, 39, 55, 46, 49, 38. Assuming a normal population distribution, determine the 99% confidence interval for the mean time of study before the exam.
$
The 99% confidence interval for the mean time spent studying before the final exam, based on the given random sample of 10 students, is approximately (33.63, 55.97) hours.
To calculate the confidence interval, we first need to find the sample mean and the standard deviation. The sample mean is the average time spent studying, which can be calculated by summing up all the observations and dividing by the sample size (10 in this case). In this example, the sample mean is (28 + 57 + 42 + 35 + 61 + 39 + 55 + 46 + 49 + 38) / 10 = 45. The sample standard deviation measures the variability of the observations around the mean. For this sample, the standard deviation is approximately 9.92.
Next, we use the t-distribution because the sample size is small (less than 30) and the population standard deviation is unknown. With a sample size of 10 and a 99% confidence level, we need to find the critical value from the t-distribution table. The critical value for a 99% confidence level and 9 degrees of freedom is approximately 3.250.
Finally, we can calculate the margin of error by multiplying the critical value with the standard deviation divided by the square root of the sample size: 3.250 * (9.92 / sqrt(10)) ≈ 11.35. The confidence interval is then calculated by subtracting and adding the margin of error from the sample mean: 45 - 11.35 = 33.65 (lower bound) and 45 + 11.35 = 55.97 (upper bound). Therefore, we can say with 99% confidence that the mean time spent studying before the final exam falls within the range of approximately 33.63 to 55.97 hours.
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which of these performers sang a jingle promoting zip codes?
Ethel Merman was one of the famous people. Around 1963, she offered her singing voice for a commercial jingle for ZIP Codes set to the tune of Zip-A-Dee-Doo-Dah.
What is ZIP codes?Because it can be used in conjunction with your name from your credit card to search commercial databases for other information about you, including your entire mailing address, stores want to know your ZIP code. They might even sell the data to data brokers, who then sell it to further advertisers. Zip Code Marketing, sometimes referred to as Zip Code Advertising, enables marketers to raise awareness among the general public in important geographic areas of interest based on a certain zip code (s). You can engage customers in particular locations to influence current and future behaviour by targeting mobile users at the zip code level.An individual destination post office or mail delivery region is identified by a 5-digit number called a ZIP Code.To learn more about Zip codes, refer to:
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The government claimed that, to illegally control the market, Microsoft used
a. predatory pricing and mergers.
b. predatory pricing and buying out competitors.
c. predatory pricing and forming a cartel.
d. predatory pricing and requiring customers to buy other products.
Answer:
B. Predatory pricing and buying out competitors
The process of choosing an option after evaluating the available information and weighing the costs and benefits of the alternatives is called _____________________________.
Answer: Decision-Making
Explanation:
Decision-making is the process by which we choose the best perceived alternative to follow after evaluating the available alternatives for their costs and benefits.
These costs and benefits are not only monetary in nature. They can include our values as well as our beliefs and the things we prefer. They also include time as well. Every decision is unique with these and that is why every decision must be evaluated in its own right.
the drugstore industry has seen a decrease in their annual sales mainly due to
The drugstore industry is facing several challenges, and companies will need to adapt and innovate to stay relevant and competitive.
The drugstore industry has indeed been experiencing a decline in annual sales in recent years, which can be attributed to several factors. Firstly, the rise of online pharmacies has provided consumers with a convenient and cheaper alternative to traditional brick-and-mortar drugstores. As a result, customers are increasingly opting to purchase their medications online, cutting into the drugstore's revenue.
Another factor is the growing popularity of generic drugs, which have lower prices than brand-name drugs. This has led to reduced profits for drugstores, as they make a higher margin on brand-name drugs. Additionally, the rise of health and wellness trends has led to consumers being more conscious about their health and opting for natural remedies and supplements, which can be purchased from health food stores and online retailers.
Finally, the COVID-19 pandemic has also impacted drugstore sales, with many people opting to stay at home and avoid unnecessary trips outside. In conclusion, the drugstore industry is facing several challenges, and companies will need to adapt and innovate to stay relevant and competitive.
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What kind of business was formed by Ken and Ryan
Answer:
Ryan Gosling and Ken Kao (The Nice Guys) have formed a new film and TV production company called Arcana and are collaborating on their first project: The Favourite from The Lobster director Yorgos Lanthimos which stars Gosling's La La Land's co-star Emma Stone along with Rachel Weisz and Olivia Colman.
Explanation:
How is Infrastructure related to the business and his Impact and Importance on it?
Infrastructure is the most crucial factor of a business organization, and much of a business' growth depends upon better infrastructure.
What is infrastructure?Infrastructure for a business can be understood as a set of facilities and services that are a requirement for the smooth functioning of a business organization.
If the infrastructure is poor, then there is a definite cap on the upper side of a business' growth. Similarly, a better infrastructure increases the opportunities for increase in the productivity of a business.
Hence, the significance of infrastructure is aforementioned.
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