10% of shoplifters are thought to be professionals who rely on theft for the majority of their revenue.
Why do individuals shoplift?People may shoplift for a variety of reasons, the majority of which have nothing to do with a shortage of funds or a requirement for the item being taken, according to Psychology Today. An addiction to stealing and a mental illness that promotes the activity are two frequently cited causes. People may, for instance, struggle to restrain themselves from grabbing something if they have an impulsive problem. A brain injury or other sort of brain damage is another reason why someone might not understand or even be aware that taking something without paying for it is wrong.
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If Janet decides to wear her favorite red shirt instead of her favorite blue dress, she is making what?
Answer:
she is making a decision?
what is the term for when businesses produce goods and services that consumers do not want
Answer:
Productive (technical) inefficiency.
Explanation:
A market failure can be defined as a situation in which the market fails to produce an efficient level of productivity or output that is required to meet consumer demand.
This ultimately implies that, a market failure arises when there is inefficiency in the distribution or allocation of goods and services in a free market.
In Economics, there are two types of inefficiency associated with the production of goods and services, these includes;
1. Allocative inefficiency: it occurs when businesses do not maximise output from the given inputs. Thus, it arises when businesses fail to increase the level of their production or productivity from a number of given inputs.
In conclusion, allocative inefficiency typically occurs when the price of a good or service isn't equal to its marginal cost i.e P ≠ MC.
2. Productive (technical) inefficiency: it occurs when businesses produce goods and services that consumers do not want. This is typically as a result of the incorrect and inefficient allocation of scarce resources by a business firm or entity.
What is the fallacy in concluding that all information is equally unreliable due to a lack of inherent objectivity in sources?
The fallacy in concluding that all information is equally unreliable due to a lack of inherent objectivity in sources is the false equivalence fallacy.
This fallacy assumes that just because sources may have biases or subjectivity, that all information they present is equally unreliable or untrustworthy. This is not always the case as some sources may still have a high degree of reliability and accuracy despite their potential biases.
Furthermore, not all information is equal in terms of reliability and some sources may have a better track record of accuracy and trustworthiness than others. Therefore, it is important to evaluate sources on a case-by-case basis rather than assuming all information is equally unreliable due to the inherent subjectivity of sources. This can be done by examining the credentials and reputation of the sources, cross-checking information with other sources, and critically analyzing the evidence presented.
By doing so, we can avoid the false equivalence fallacy and make more informed decisions based on reliable information.
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For an ethics and compliance program to properly function, a.it is not necessary to set measurable program objectives. b.the company must wait until after misconduct occurs to develop a means of preventing it. c.consistent enforcement and disciplinary action are essential. d.employees must be monitored using any means necessary. e.the same program should be used in all countries of operation, regardless of cultural differences.
Consistent enforcement and disciplinary action are essential for an ethics and compliance program to function properly.
What is the importance of organizational ethics?A company's policies and codes of ethics serve as a guide for employee behavior, creating an environment focused on development, respect and collaboration.
Therefore, ethics must be coordinated, controlled and reviewed to be consistent with a positive organizational culture.
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Using the pie chart in your reading, what percentage of our total tax dollars is used by the federal gov. to fund the social security and Medicare programs?
Answer: 38%
The percentage spent on Social Security and Medicare of the total is = 28.32% of the Total Spending.
The total amount of funds used by the Federal Government for social security and Medicare in the year 2020 is $1.869 Trillion.
The total Medicare and Social Security spending:
Medicare ($ 769,000,000,000) + Social Security ($ 1,100,000,000,000) =
Total ($ 1,869,000,000,000) or $1.869 Trillion
The percentage of the Medicare and Social Security spending as a percentage of the total spend:
The Total Spend = $6.6 Trillion (or $6,600,000,000,000)
The percentage spent on Social Security and Medicare of the total is:
Formula = (Value / Total) x 100%
= ($1.869 Trilion/$6.6 Trillion) x 100%
= ($ 1,869,000,000,000/$6,600,000,000,000) x 100%
= 0.28318181818 X 100%
= 28.32%
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Differentiate between generic and enterprise competition
Answer:
Generic competition is competition among different products that solve the same purpose while enterprise competition is am orderly established business with limited liability of another person. The main difference between the two is that generic is rivalry among similar businesses while enterprise is the company itself.
Differences between generic and enterprise competition
Generic competition is regarded as the third level of competition while enterprise competition is not among the level of competition but it does existGeneric competition are often longer-term and focuses on substitutable product categories that is it exists between business product while Competitive Enterprise is simply a type of competition that exist been enterpriseFor better understanding, lets explain what Differences between generic and enterprise competition
Generic competition is a type of competition that is outward-oriented and focuse on products. the market that exists here consists of those products and services fulfilling the same customer needCompetitive Enterprise is simply when an existing or planned business enterprise are involved or engages in any activity and also owns or controls some a useful interest and are involved in any activity that tends to competes or will compete with other enterpriseFrom the above, we can therefore say that the answer
Differences between generic and enterprise competition
Generic competition is regarded as the third level of competition while enterprise competition is not among the level of competition but it does existGeneric competition are often longer-term and focuses on substitutable product categories that is it exists between business product while Competitive Enterprise is simply a type of competition that exist been enterpriseLearn more about enterprise competition from:
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ENGLISH
Read the passage given below
The choices we make on a daily basis-wearing a seatbelt, lifting heavy objects correctly or purposely staying out of any dangerous situation can either ensure our safety or bring about potentially harmful
circumstances. You and I need to make a decision that we are going to get our lives in order Exercising self-control, self-discipline and establishing boundaries and borders in our lives are some
of the most important things we can do. A life without discipline is one that's filled with carelessness.
We can think it's kind of exciting to live life on the edge. We like the image of "Yeah! That's me! Living on the edge! Woo-hoo!" It's become a popular way to look at life. But if you see, even highways have lines, which provide margins for our safety while we're driving. If we go over one side, we'll go into the ditch. If we cross over the line in the middle, we could get killed. And we like those lines because they help to keep us safe. Sometimes we don't even realize how lines help to keep us safe.
I'm not proud of this, but for the first 20 years of my life at work, I ignored my limits. I felt horrible, physically, most of the time. I used to tell myself "I know I have limits and that I've reached them, but I'm going to ignore them and see if or how long I can get by with it." I ran to doctors, trying to make myself feel better through pills, vitamins, natural stuff and anything I could get my hands on. Some of the doctors would tell me, "It's just stress." That just made me mad. I thought stress meant you don't like what you do or can't handle life, and I love what I do. But I kept pushing myself, travelling, doing speaking engagements and so on-simply exhausting myself. Finally, I understood I was living an unsustainable life and needed to make some changes in my outlook and lifestyle. You and I don't have to be like everyone else or keep up with anyone else.
Each of us needs to be exactly the way we are, and we don't have to apologize for it. We're not all alike and we need to find a comfort zone in which we can enjoy our lives instead of making ourselves sick with an overload of stress and pressure.
i. The reason why living on the edge has become popular, is because of the
a) constant need for something different.
b) population being much younger.
c) exhausting effort to make changes.
d) strong tendency to stay within our limits
ii. Choose the option that best captures the central idea of the passage from the given quotes.
a) It is all about quality of life and finding a happy balance between work and friends.
b) to go beyond is as wrong as to fall short
c) life is like riding a bicycle. To keep your balance you must keep moving.
d) balance is not something you find, it is something you create.
iii. Which of the characteristics are apt about the writer in the following context: "I know I have
limits and that I've reached them, but I'm going to ignore them and see if or how long I can get by
with it."?
1) negligent 2) indecisive
3) spontaneous
4) reckless 5) purposeless 6) patient
a) 2 and 5
c) 1 and 4
b) 3 and 6
d) 2 and 3
iv. Which of the following will be the most appropriate title for the passage?
a) Much too soon
b) Enough is enough
c) How much is too much? d) Have enough to do?
v. The phrase "potentially harmful circumstances” refers to circumstances that can
a) certainly be dangerous. b) be fairly dangerous.
c) be possibly dangerous. d) seldom be dangerous
vi. Select the option that makes the correct use of “unsustainable", as used in the passage, to fill in
the blank space.
a) In the long run, the_______officials followed emergency procedures.
b) Emergency procedures were _______ by the officials.
c) Officials reported a set of _______ events during the emergency.
d) Officials admit that the emergency system is __________ in the longer run.
vii. The author attempts to the readers through this write-up.
a) rebuke
b) question c) offer aid to d) offer advice to
viii. The author uses colloquial words such as "yeah" and "Woohoo!". Which of the following is
NOT a colloquial word?
a) hooked
b) guy
c) stuff
d) stress
ix. What does the author mean when he says, "to get our lives in order"?
a) To resume our lives.
b) To organize our lives.
c) To rebuild our lives.
d) To control our lives.
x. Choose the option that correctly states the two meanings of 'outlook', as used in
the passage.
a) A person's evaluation of life
b) A person's experiences in life
c) A person's point of view towards life d) A person's regrets in life
e) A person's general attitude to life
xi. The author explains the importance of discipline and boundaries in our lives
using the example of
a) road accidents.
b) traffic rules.
c) lines on the highway.
d) safe driving.
xii. What is the message conveyed in the last paragraph of the passage?
a) Love what you do.
b) Love yourself to love others.
c) Be the best version of yourself. d) Be yourself.
Answer:
mother trucker u suppose to put one answer
Answer:
if ur gonna put 90234982304 questions and a passage maybe give more than 5pts lol
Explanation:
If you had a choice how much are you willing to pay per month to have access to and use the various social media platforms?
Answer: $10 per month
Explanation:
$10 would be an ideal amount for me to pay to have access to the various social media sites if the major sites are on offer.
I think this amount reasonable because I do not use social media all that much but I would still like access to a variety of them. I would essentially therefore, be paying for my reduced time on the net.
Some might say that the companies might not make a profit if they charge $10 a month but I think they will because they make most of their money from ads so it would be good for them to offer the lowest subscription prices so that they can capture more people which will appeal to advertisers.
Mr. RH purchased 30 acres of undeveloped ranch land 10 years ago for $935,000. He is considering subdividing the land into one-third-acre lots and improving the land by adding streets, sidewalks, and utilities. He plans to advertise the 90 lots for sale in a local real estate magazine. Mr. RH projects that the improvements will cost $275,000 and that he can sell the lots for $20,000 each. He is also considering an offer from a local corporation to purchase the 30-acre tract in its undeveloped state for $1.35 million. Assume that Mr. RH makes no other property dispositions during the year and has a 35 percent tax rate on ordinary income and a 15 percent tax rate on capital gain. (Cash outflows should be indicated by a minus sign. Enter your answers in dollars and not in millions of dollars.) a. Compute the after-tax cash flow if Mr. RH develops the land.
b. Compute the after-tax cash flow if Mr. RH sells the land.
The after-tax cash flow if Mr. RH develops the land is $843,750. The after-tax cash flow if Mr. RH sells the land is $1,287,750.
A. Cash Inflows:
Total sales from selling 90 lots: 90 lots × $20,000/lot = $1,800,000
Cash Outflows:
Cost of land purchase: -$935,000
Cost of improvements: -$275,000
Tax Calculation:
Tax rate on ordinary income: 35%
Tax rate on capital gain: 15%
Net Income from Development:
Sales revenue - Land purchase cost - Improvement cost = $1,800,000 - $935,000 - $275,000 = $590,000
Tax on Ordinary Income:
Net Income × Tax rate on ordinary income = $590,000 × 35% = $206,500
Net Income after Tax on Ordinary Income:
Net Income - Tax on Ordinary Income = $590,000 - $206,500 = $383,500
Tax on Capital Gain:
Capital gain = Sales revenue - Land purchase cost = $1,800,000 - $935,000 = $865,000
Tax on Capital Gain = Capital gain × Tax rate on capital gain = $865,000 × 15% = $129,750
Net Income after Tax on Capital Gain:
Net Income - Tax on Capital Gain = $865,000 - $129,750 = $735,250
After-Tax Cash Flow from Developing the Land:
Net Income after Tax on Ordinary Income + Net Income after Tax on Capital Gain - Improvement Cost = $383,500 + $735,250 - $275,000 = $843,750
B. Cash Inflows:
Sale price from selling the 30-acre tract in its undeveloped state: $1,350,000
Tax Calculation:
Capital gain = Sale price - Land purchase cost = $1,350,000 - $935,000 = $415,000
Tax on Capital Gain = Capital gain × Tax rate on capital gain = $415,000 × 15% = $62,250
After-Tax Cash Flow from Selling the Land:
Sale price - Tax on Capital Gain = $1,350,000 - $62,250 = $1,287,750
Cash flow refers to the movement of money into and out of a business or individual's finances over a specific period of time. It represents the net amount of cash generated or consumed by an entity during a given period and is a crucial indicator of financial health. Cash inflows typically include revenue from sales, loans, investments, or other sources, while cash outflows encompass expenses, loan repayments, investments, and taxes.
Positive cash flow occurs when cash inflows exceed outflows, indicating a healthy financial position and the ability to meet obligations, invest, or expand. Conversely, negative cash flow indicates that more money is leaving than entering, potentially leading to financial difficulties and an inability to meet obligations. Monitoring cash flow is vital for businesses to manage working capital, pay bills, plan for growth, and make strategic financial decisions. It also helps individuals maintain a balanced budget and ensure their financial stability.
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Please answer the questions to each.
1.You are the newly appointed CFO of ABC Corp. In order to
improve internal control, you review the cash disbursements
procedures. You immediately realize that the
As the newly appointed CFO of ABC Corp, it is important to review the cash disbursements procedures in order to improve internal control.
1. The problem with the current cash disbursements procedures is not specified in the given information..
2. Some recommendations to improve the cash disbursements procedures are as follows:
Establish a system of checks and balances to prevent fraud or error in the disbursement process.
Make sure that all payments are properly documented and supported by invoices or other documentation.
Approve all disbursements by authorized personnel.
Ensure that the disbursement process is timely and that bills are paid in a timely manner.
Maintain a secure system for processing payments and storing financial information.
Establish a segregation of duties so that no one person has too much control over the disbursement process.
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If a researcher decides to use the .01 level of significance rather than using the more conventional .05 level of significance, what type of error is more likely to be made
If a researcher decides to use the .01 level of significance instead of the more conventional .05 level of significance, they are more likely to make a Type II error.
In hypothesis testing, the significance level (often denoted as α) represents the threshold at which the researcher is willing to reject the null hypothesis. A lower significance level, such as .01, means that the researcher requires stronger evidence to reject the null hypothesis compared to a higher significance level like .05.
By choosing a lower significance level, the researcher is decreasing the probability of making a Type I error (rejecting the null hypothesis when it is actually true). However, this also increases the likelihood of making a Type II error (failing to reject the null hypothesis when it is false).
A Type II error occurs when the researcher fails to detect a true effect or relationship in the data. It means that the researcher incorrectly concludes that there is no significant difference or relationship, even though one exists.
Therefore, by using a lower significance level (.01), the researcher is being more cautious and reducing the risk of Type I errors but increasing the risk of Type II errors.
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Does anyone have a perfect competition business example?
Answer:
Perfect competition is a type of market structure where products are homogenous and there are many buyers and sellers. ... Whilst perfect competition does not precisely exist, examples include the likes of agriculture, foreign exchange, and online shopping.
Explanation:
Grade
Age
Favorite food........
Which of the following statements best describes a consumer's budget line? - the amount of each good a consumer can purchase - the limits to a consumer's set of affordable consumption choices - the desired level of consumption for the consumer - the set of all affordable consumption choices
The best description of a consumer's budget line is that it represents the limits to a consumer's set of affordable consumption choices.Option (2)
A consumer's budget line shows the different combinations of goods and services that a consumer can afford given their budget and the prices of the goods. It illustrates the trade-off between different goods that a consumer can make based on their income and the prices in the market.
The budget line is typically depicted as a straight line in a two-dimensional graph, where the quantity of one good is plotted on the x-axis and the quantity of the other good is plotted on the y-axis. The slope of the budget line represents the relative prices of the two goods.
Therefore, the budget line sets the boundaries for a consumer's feasible consumption choices based on their income and the prevailing market prices, providing a framework for decision-making and trade-offs.
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Full Question: Which of the following statements best describes a consumer's budget line? -
the amount of each good a consumer can purchase - the limits to a consumer's set of affordable consumption choices - the desired level of consumption for the consumer - the set of all affordable consumption choicesA _____ is a set of unique features of a company and its products that are perceived by the people or companies the organization wishes to serve as significant and superior to those of the competition.
A competitive advantage is a set of unique features of a company and its products that are perceived by the people or companies the organization wishes to serve as significant and superior to those of the competition.
What exactly is a competitive advantage?If a company have something that gives it an edge over its competitors that eventually helps it attract more customers and grows its market share, then it is a competitive advantage to the company.
There are three primary forms of a competitive advantage, namely (1) cost advantage, (2) offer advantage, and (3) niche advantage.
Cost advantage means providing a service or producing a product at a lower cost than competitors.Offer advantage means a company's product or service stands out from the competitors by meeting a unique customer need.Niche advantage means designing a product or service that attracts a specific audience.Find out more about competitive advantage here: https://brainly.com/question/26514848
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b. Assume the creation of city parks has spillover benefits that improve society as a whole. Explain two positive extemalities associated with making more parks. Who receives the external benefits? Explain what the government must do to fix the positive externality. ECON EXTERNALITY REVIEW.
Answer:
Explanation:
The format for the equation of a circle is (x-h)^2+(y-k)^2=r^2, where (h,k) is your center and r is your radius. All we have to do is substitute the correct values, giving us the equation (x+2)^2+(y-1)^2=4
_______ capitalizes on a distinctive competence or improving efficiency for competitive advantage.
The term that fills in the blank is "strategic management." Strategic management is the process of formulating and implementing strategies that enable a company to achieve its goals and gain a competitive advantage in the market.
One way to achieve this advantage is by capitalizing on a distinctive competence, which refers to a unique strength or capability that sets a company apart from its competitors. By leveraging this competence, a company can offer superior products or services that meet customer needs more effectively.
Improving efficiency is another way to gain a competitive advantage. This involves optimizing internal processes, reducing costs, and increasing productivity. By doing so, a company can deliver its products or services more efficiently and at a lower cost than its competitors. This can lead to higher profits, greater market share, and improved customer satisfaction.
For example, Apple capitalizes on its distinctive competence in design and innovation to create premium and user-friendly products like the iPhone. This has helped them gain a competitive advantage and become a market leader in the smartphone industry.
In conclusion, strategic management involves capitalizing on a distinctive competence or improving efficiency to gain a competitive advantage. By leveraging unique strengths and optimizing operations, companies can differentiate themselves and succeed in the market.
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If a person spends $10 a week on coffee (assume $500 a year), what would be the future value of that amount over 10 years if the funds were deposited in an account earning 3 percent? Use
The cost of interest is only calculated once a year with annual compounding. This is a unique situation because the claimed yearly percentage rate and the actual annual rate are the same.
What is future value?A financial concept known as future value (FV) assigns a value to an asset based on anticipated factors like future interest rates or cashflows.
We can use the following formula to compute the future value of an annuity with periodic payment M for T periods, given periodic return r :
= M((1+r)^{T} −1) / r
Applying the formula, the future value after 10 years is:
= 500(1+3 % )^{10} - 1 / 3%
= 5,731.94
Therefore, The future value is 5,731.94.
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Bonnie is trying to decide between standard repayment and income-based repayment for her $30,000 student loans. Her job pays $29,500 per year. Which of the following statements is likely TRUE
Bonnie will likely pay more, total, if she goes with the standard repayment.
It's best for Bonnie to choose standard repayment, even if that means she's delinquent on some of her monthly payments.
Bonnie's monthly payments on the income-based plan will likely be lower than on the standard repayment plan.
Bonnie makes too much money to qualify for income-based repayment.
Answer:
Bonnie's monthly payments on the income-based plan will likely be lower than on the standard repayment plan.
Explanation:
I got it wrong and it gave me the answer
I need Welp Help help Help help
I am 2 weeks late do you still need help with this assignment?
Answer:
Hello do you still need help with this?
Explanation:
State two ways in which trade unions could assist workers in addressing non compliance with working conditions
Ways in which change unions should assist workers in addressing noncompliance with operating conditions are the standard sports of alternate unions consist of supplying assistance and services to their contributors, collectively bargaining for better pay and conditions for all people, and running to enhance the excellent of public offerings, political campaigning, and commercial movement.
The definition of a worker is someone or animal that performs a particular or essential project or who completes duties in a certain way. someone who works in a store is an instance a retail employee. someone who works diligently on his homework for hours a day is an instance of a tough employee.
A person is normally classed as a 'worker' if: they have a contract or other association to do work or offerings personally for praise (a contract may be written or unwritten) their reward is for money or an advantage in type, for example the promise of a settlement or future paintings.
Workers are the people employed by using a selected organization or company. Manpower is all the employees available to paint for a business enterprise or USA. A colleague or co-employee is a person you figure with, mainly in the workplace.
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Which quality is a requirement In order for a destination to become a tourism destination area (TDA)?
A. should be accessible by road
B. should be in a developed country
C. should have a unique feature
D. should have a moderate climate
What is the purpose of a warranty?
A. to protect manufacturers from consumers
B. to refund your money if you are dissatisfied with a purchase
C. to repair or replace a defective purchase or item
D. to make businesses follow laws
The correct option is C. The purpose of a warranty is to repair or replace a defective purchase or item. A warranty is the written assurance of a product's or service's quality as given to a consumer by the manufacturer or service provider. Insofar as the warranty's provisions stipulate, warranties offer clients legally guaranteed service replacement or issue a correction for the period of the warranty.
What is the difference between a guarantee and a warranty?The primary distinction between a guarantee and a warranty is that the former is normally cost-free while the latter typically charges a fee for the coverage. The beautiful thing about a guarantee is that it strengthens your legal rights under consumer law and is legally enforceable.
A warranty is a seller's promise that they will fix or replace defective goods within a set period. A guarantee is a seller's assurance that a product will satisfy particular performance or quality requirements. If not, a repair or replacement will be made.
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True or False: After calculating how much money you have left after paying for all of your monthly expenses, you can
olan on spending up to 50% of that amount on car expenses
Based on microeconomic theory, it is true that after calculating how much money you have left after paying for all of your monthly expenses, you can
plan on spending up to 50% of that amount on car expenses.
Note that after making a payment on living expenses, such as rent, mortgage, utilities, loans, car payments, and food, the money that remains is discretionary income.
This discretionary income can be used as savings, investment, or spending on your discretionary expenses such as vacations and travel expenses, car expenses.
This is because discretionary expenses are categorized under wants instead of needs.
Thus, given that planning for car expenses is a want, then the statement in the question is True.
Hence, in this case, it is concluded that the correct answer is "True."
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Brett and Abby are dependents of their parents, and each has income of $6,570 for the year. Brett's standard ded is $1,150, while Abby's is $6,970. Because their income is the same, what causes the difference in the amount of the standard deduction? Brett's \$6,570 is income, and Abby's $6,570 is income.
The difference in the amount of the standard deduction between Brett and Abby can be attributed to their respective filing statuses and their ability to claim certain deductions or credits.
The standard deduction amount can vary based on factors such as filing status, age, and whether the taxpayer can be claimed as a dependent on someone else's tax return. In this case, the key factor is likely their filing status.
Brett and Abby may have different filing statuses, such as single or married filing separately, which can impact their standard deduction amounts. The standard deduction for single taxpayers is generally lower compared to those who are married or filing jointly.
It's also worth noting that Brett's standard deduction of $1,150 may be lower than Abby's $6,970 because he is claimed as a dependent on his parents' tax return. Dependents generally have lower standard deduction amounts than those who are not claimed as dependents.
Overall, the difference in the amount of the standard deduction between Brett and Abby is likely due to their filing statuses and the fact that Brett is a dependent, while Abby's filing status and circumstances may allow for a higher standard deduction.
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Which is not a responsibility of a human resources manager? Choose the answer.
Question 3 options:
revising personnel policies and procedures
revising job descriptions
maintaining company employee contact information
developing the company's strategic plan
Answer:
maintaining company employee contact information
Designing an effective marketing mix conveys to potential buyers a clear customer value proposition, which is a _____. Multiple choice question. statement that claims to offer customers the lowest possible price for the products sold plan of action that an organization adopts to support its mission and goals proposition made to customers about ensuring quality manufacturing cluster of benefits that an organization promises customers to satisfy their needs
Answer:
cluster of benefits that an organization promises customers to satisfy their needs
Explanation:
In order to create an effective marketing mix that represent the potential buyer an accurate customer value i.e. the benefits are cluster in which an organization promised to the customer to satisfy their needs and wants. The customer value proposition refer to the total benefits in which the company promised to the customer the satisfaction in return of the payment done by the customer
On Sunday, Dawson's flower shop sold 25 arrangements. The materials needed for 25 arrangements cost $250. If he sold each arrangement for $55, what would the net income?
Answer:
Net Income = $1125
Explanation:
The net income is the difference between the revenue and the total costs incurred to earn that revenue. It can be calculated as follows,
Net Income = Revenue - Total costs
The revenue in the given question can be calculated by multiplying the selling price per arrangement by the number of arrangements sold.
Revenue = 55 * 25
Revenue = $1375
The total cost for materials needed for 25 arrangements is provided and there are no other costs.
Net Income = 1375 - 250
Net Income = $1125
The history of bananas
Using at least two terms from the unit, summarize the United States’ connection to the history of bananas, as documented in this TED talk.
There was a U.S corporation called El Pupo that specialized in trafficking bananas. Bananas fist officially reached America in the early 1500’s. By the end of the 1800’s, bananas were a big hit in the U.S.
How was bananas shoot introduced to the US for cultivation?Spanish explorers brought bananas to the Americas in the 1500s. The first banana shoot is thought to have been planted in the Caribbean islands in 1516. Bananas did not arrive in the United States until the 1800s, when sailors brought banana shoots back from the Caribbean.
Because fruit companies in the United States wanted to grow their own bananas, they bribed government officials to gain access to various lands. Rainforests were cleared, plantations were constructed, and the business grew from there.
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Question 3 (15 marks) ErgoVogue Company manufactures and sells its chairs to offices and educational institutions. ErgoVogue expects to sell 1,500 chairs for $175 each in January, and 1,750 chairs for $175 each in February. All sales are cash only. Assume that ErgoVogue 's sales are collected as follows: 50% in the month of the sale 30% in the month after the sale 18% two months after the sales 2% never collected November sales totaled $300,000 and December sales were $325,000. Prepare a schedule for the budgeted cash receipts from customers for January and February. Round answers to the nearest dollar. Required: a) Prepare a schedule for the budgeted cash receipts from customers for January and February. Round answers to the nearest dollar. (4 marks) b) Assume ErgoVogue Company pays for direct materials purchases 55% in the month of purchase and 45% in the month after purchase. The Accounts Payable balance on January 1 is $45,000. Total direct materials purchases for January were $57,505 and February were $147,245. Prepare a schedule for the budgeted cash payments for purchases for January and February. Round to the nearest dollar. (3 marks)
The budgeted cash receipts from customers for ErgoVogue Company in January and February are as follows:
- January: $131,250
- February: $210,000
The budgeted cash payments for purchases for ErgoVogue Company in January and February are as follows:
- January: $31,627
- February: $124,760
a) To calculate the budgeted cash receipts from customers for January and February, we need to consider the sales collection percentages given in the question.
For January sales of 1,500 chairs, 50% of the sales will be collected in the month of the sale, which amounts to (1,500 chairs * $175 per chair * 50%) = $131,250.
For February sales of 1,750 chairs, 50% of the sales will also be collected in the month of the sale, resulting in (1,750 chairs * $175 per chair * 50%) = $153,125. However, since the question states that 2% of the sales will never be collected, we need to subtract that amount from the total. Therefore, the cash receipts for February will be ($153,125 - 2% of $153,125) = $150,000.
Rounding these values to the nearest dollar, the budgeted cash receipts from customers for January and February are as follows:
- January: $131,250
- February: $210,000
b) To calculate the budgeted cash payments for purchases, we need to consider the payment percentages for direct materials purchases given in the question.
For January purchases of direct materials amounting to $57,505, 55% of the purchases will be paid in the month of purchase, resulting in ($57,505 * 55%) = $31,627.
For February purchases of direct materials amounting to $147,245, 55% of the purchases will be paid in the month of purchase, resulting in ($147,245 * 55%) = $80,985. The remaining 45% will be paid in the following month, so the cash payment for February will be ($147,245 * 45%) = $66,480.
Rounding these values to the nearest dollar, the budgeted cash payments for purchases for January and February are as follows:
- January: $31,627
- February: $124,760
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