Personal Selling involves the two way flow of communication between a buyer and seller, often in a face to face encounter, designed to influence a person's or group's purchase decision.
What is Two way flow of communication?Two-way communication involves feedback from the receiver to the sender. This allows the sender to know the message was received accurately by the receiver. Communication is also negotiated which means that the sender and receiver listen to each other, the messages then gathers information to respond.
The two-way communication process involves the sender transmitting the message or information that may be of significance to the receiver. The receiver, upon getting the message, deciphers it and replies with the feedback.
What is Personal Selling?Personal selling is also known as face-to-face selling in which one person who is the salesman tries to convince the customer in buying a product. It is a promotional method by which the salesperson uses his or her skills and abilities in an attempt to make a sale.
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Economists convert costs and benefits into money equivalents by evaluating an individual's willingness to pay. opportunity costs. marginal benefits. sunk costs.
The correct option is (a) willingness to pay.
Comparing the anticipated or predicted costs and benefits (or opportunities) connected with a project choice in order to assess whether it makes sense from a business standpoint is known as a cost-benefit analysis.The maximum sum of money a consumer will spend on an additional commodity or service is known as the marginal benefit. As spending rises, customer contentment tends to decline. The difference in price caused by producing an extra unit of a good or service is known as the marginal cost.What is economic benefit?Economic benefits are defined as concrete advantages that can be quantified in terms of money saved or income earned as a result of the application of policies.
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The inventory records of Global Company indicate that $77,600 of merchandise should be on hand at the end of the month. The physical inventory indicates that $74,000 is actually on hand. The journal entry to adjust inventory shrinkage will include a.a credit to Cost of Merchandise Sold. b.a debit to Merchandise Inventory. c.a debit to Cost of Merchandise Sold. d.None of these choices are correct.
The journal entry to adjust inventory shrinkage will include c. a debit to Cost of Merchandise Sold.
What is inventory shrinkage?Inventory shrinkage is a situation whereby the value of ending inventory as per the accounting records exceeds the physical inventory count.
Inventory shrinkage may be caused by:
Clerical errorsDamage to goodsLossTheft.Thus, the journal entry to adjust inventory shrinkage will include c. a debit to Cost of Merchandise Sold.
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Unlike a firm that strives for market share, a firm with the objective of maximizing sales _______. a. seeks to maintain existing prices or to meet the competition's prices b. benefits from maximization of cash if it is adopted as a long-run objective c. ignores profits, competition, and the marketing environment as long as sales are rising d. possesses adequate funds and faces an optimistic future
Unlike a firm that strives for market share, a firm with the objective of maximizing sales ignores profits, competition, and the marketing environment as long as sales are rising.
What is the maximization of sales?This is the term that is used in economics and commerce to refer to the way that the producer would use any means that is possible in order to get the highest possible sale.
The goal is to be able to raise the highest level of revenue that is possible. Hence the answer is c.
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Managers in a cosmetics factory have been having problems with employees starting cliques. To develop more of a team culture, the ceo suggested utilizing mary parker follett’s idea that companies should.
To develop more of a team culture, the ceo suggested utilizing mary parker follett’s idea that companies should: C. Operate as a community, with employees working in harmony.
Team culture can be defined as the way in which team members are united and they tend to understand the purpose or goals of the team by ensuring they all achieve the set goals.
Mary parker follett’s idea stated that companies should work as a community including the employees working in unity.
Therefore the correct option is C.
The missing options are:
A. Increase diversity.
B. Utilize time-motion studies.
C. Operate as a community, with employees working in harmony.
D. Implement a more rigid environment.
E. Strive to cut costs and increase efficiency.
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Preparation of Adjusting Entries Bartow Photographic Services takes wedding and graduation photographs. At December 31, the end of Bartow's accounting period, the following information is available: All wedding photographs are paid for in advance, and all cash collected for them is credited to Unearned Service Revenue. Except for a year end adjusting entry, no other entries are made for service revenue from wedding photographs. During the year, Bartow received $42,600 for wedding photographs. At year end, $37,480 of services had been performed. The beginning-of-the-year balance of Unearned Service Revenue was zero. During December, Bartow photographed 228 members of the next year's graduating class of Shaw High School. The school has asked Bartow to print one copy of a photograph of each student for the school files. Bartow delivers these photographs on December 28 and will bill the school $5.00 per student in January of next year. Revenue from photographs ordered by students will be recorded as the orders are received during the early months of next year. Equipment used for developing and printing was rented for $22,500. The rental term was for 1 year beginning on August 1 and the entire year of rent was paid on August 1. The payment was debited to Prepaid Rent. Depreciation on the firm's building for the current year is $9,390. Wages of $4,170 are owed but unpaid and unrecorded at December 31. Supplies at the beginning of the year were $2,400. During the year, supplies costing $19,600 were purchased from Kodak. When the purchases were made, their cost was debited to Supplies. At year end, a physical inventory indicated that supplies costing $4,100 were on hand.
Conceptual Connection: By how much would net income be overstated or understated if the accountant failed to make the adjusting entries?
Answer:
The enetres below suggests that the reader aka you doesnt know how to do work
Explanation:
study
Determine whether each cash receipts procedure is an internal control strength or weakness reciepts are only given to customers for sales that are above $20
The internal control procedures are categorized as follows:
These refer to processes in the accounting process or other aspects of the business that are instituted to prevent or eliminate fraud or errors.
Full question:
Determine whether each cash receipts procedure is an internal control strength or weakness.
The record keeper of cash transactions is also in charge of depositing cash receipts in the bank.One employee with many years of experience is solely in charge of opening cash receipts received by mail.All sales transactions, even those for less than $1, are recorded on a cash register.Two employees are tasked with opening mail that contains cash receipts.Cash registers have a permanent, locked-in electronic record of each transaction.The clerk who has access to cash in the register cannot access the accounting records to change transaction deals.Receipts are only given to customers for sales that are above $20Learn more about internal controls at;
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Match definition with correct term Question 2 options: A credit balance in the manufacturing overhead account that occurs when the amount of overhead cost applied to work in process is greater than the amount of actual manufacturing overhead cost incurred during the period. A debit balance in the manufacturing overhead account that occurs when the amount of overhead cost applied to work in process is less than the amount of actual manufacturing overhead cost incurred during the period. The manufacturing costs associated with units of product that were finished during the period Units of product that are only partially complete and will require further work before they are ready for sale to the customer. 1. Cost of Goods Manufactured 2. Overapplied overhead 3. Underapplied overhead 4. Work in process
Each of the definitions should be matched with the correct term as shown below.
How to match the definitions with the correct term?In this exercise, you're required to match the following accounting definitions with the correct term as follows:
Overapplied overhead: it is a credit balance in the manufacturing overhead account of a business firm which typically occurs when the expenses (overhead cost) applied to work in process exceeds the actual manufacturing overhead cost it incurred during the period. Underapplied overhead: it is a debit balance in the manufacturing overhead account which typically occurs when the expenses (overhead cost) applied to work in process exceeds the actual manufacturing overhead cost it incurred during the period. Cost of Goods Manufactured: it is the manufacturing costs that are associated with specific units of product that were completed (finished) during the period.Work in process: it is the units of product that have only been completed (finished) and as such would require further work by the workers, before they are ready for sale to customers.Read more on overhead cost here: https://brainly.com/question/26475885
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Which statement best describes how insurance works?
A. Insurance lowers the individual effects of financial loss by spreading the risk to a larger group.
B. Insurance companies collect and hold a customer's premiums and pay claims from that money in the event that the customer has a loss.
C. Insurance companies borrow money from banks when they have to pay claims to policyholders.
D. Insurance companies change the coverage types offered on policies based on an individual's loss history.
Insurance companies collect and hold a customer's premiums and pay claims from that money in the event that the customer has a loss.
What is insurance?Insurance involves securing an item against accident or any damages.
An individual can insure properties such as Land, building or Life by paying certain amount of money which serves a premium.
Therefore, insurance companies collect and hold a customer's premiums and pay claims from that money in the event that the customer has a loss.
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Using a price skimming strategy, Apple stakes out a price and then maintains and defends that price by significantly increasing the value of their products in future iterations. Apple gives priority to profits over market share, making people starve for the new upgraded product. Apple's price skimming strategy is most often used for a new product when _______. a. the supply of the product is greater than its demand b. customers are unwilling to spend a large amount of money on the product c. competition in the market is abundant d. the product is perceived by the target market as having unique advantages
(D) The product is perceived by the target market as having unique advantages.
What is a price skimming strategy?When offering a product or service for the first time, a company can use price skimming as a pricing strategy. A company can profit from a higher price in the market and recoup its sunk costs more quickly by using this price skimming strategy and taking the excess profit before new competition emerges and drives down the market price. Setting high initial pricing and gradually lowering them has been a fairly standard technique for managers in developing markets. The process of price skimming is sometimes referred to as riding the demand curve.Therefore, apple's price skimming strategy is most often used for a new product when (D) The product is perceived by the target market as having unique advantages.
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Amtrak is promoting and upgrading passenger rail service. All but one of the following are facts Select one: A. It has high-speed train service between New York and Boston B. Total passenger miles have grown since 1981 C. In the northeast corridor it is the dominant carrier D. It operates some commuter agencies under contract E. It operates without any government subsidy
The main fact about Amtrak corporation that is promoting and upgrading the passenger rail service is that its operates without any government subsidy.
What is Amtrak corporation?It is a railroad service that essentially provides an inter-city rail service in the United States and Canada.
Hence, despite that Amtrak corporation that is promoting and upgrading the passenger rail service, it does not operates without any government subsidy.
Therefore, the Option E is correct.
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if the firm sells its product at the market price of $10 per unit, the marginal revenue product of the fourth worker is
The marginal revenue product of the fourth worker is $50
What is the marginal revenue product?The product of the fourth worker is equal to the marginal product of the fourth worker.
The amount that production increases when a fourth worker is added and multiplied by the price of the product.
MRP = (26-21)*$10
MRP = $50.
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The marginal revenue product of the fourth worker if the firm sells its product at the market price of $10 per unit is $50.
What is marginal revenue product?The marginal revenue product (MRP) of labor refers to the extra revenue earned by hiring an extra unit of labor.
Marginal product(MP): This is the the extra unit of output produced as a result of additional unit of input.
MRP of the fourth worker = MP of the fourth worker × price of the product.= (26 - 21) units × $10= 5 × $10= $50
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An accounts receivable ledger:
An accounts receivable ledger is one that is used to show the credit sales that are made by a business.
What is a Ledger?This refers to the accounting book that is used to keep financial records and other related accounts.
Hence, we can see that in the case of an accounts receivable ledger, one can see that the balances of each customer is reconclied periodically as more transactions are made.
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What is a negative externality
Answer:
exists when a production or consumption of a product results in a coast of third party
For economics class the answer is : Negative externalities occur when the social cost of a good or service is higher than the private cost.
:)
To create a balanced budget one, must make sure to...
a) spend as little as possible
b) pay credit card payments first
c) spend less than or equal to income
d) pay off debts first
Answer:
c) spend less than or equal to income
by spending less than or equal to, you are balancing a budget. You are creating a balance between income and expense, which supports a steady/consistent, and logical budget.
^entire answer has been updated.
In a _________________________ economy, the individuals and the government share in the economic decision-making process. These groups work togther to ensure economic development.
Answer:
Mixed economy
Explanation:
There are three types of Economies:
Command Economy:
An economy where price and products are controlled by the government. It is very commonly seen in communist countries, like China or Vietnam.
Free market:
An economy where the government has little to no control. However, a perfect free economy doesn't exist anywhere, and is just a concept.
Mixed Economy:
An economy where the market is controlled by both the people/consumers, and the government. America is a mixed economy. Individuals are allowed to own property with little government intervention. However, the government has a lot more control over other sectors of the market.
So, to answer the your question, because the Mixed economy is controlled by the government and the poeple, it is the answer.
Question 9 of 12
Households play a role in the circular flow of goods by:
A. selling goods that companies produce.
B. providing natural resources to businesses.
C. designing and producing new goods.
D. purchasing goods at product markets.
Answer:
la A
Explanation:
Households are a important component in the circular flow of goods. They consume goods that companies produce. Hence, the correct answer is option A.
What is circular flow of goods?Money is utilized in the economy's circular movement to buy products and services. Money moves in the opposite direction from goods and services throughout the economy. Land, labor, capital, and entrepreneurship are all production elements.
The concept, also known as the circular flow of revenue, because it keeps the record of monetary flows between the sectors in to determine a nation's national income or GDP.
In the two-factor circular flow model, consumer spending moves money from homes to companies in return for the goods and services those businesses generate, and then company labor moves money back to households.
Therefore, in the circular flow of goods household buys goods that companies produce.
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when effective leaders hear others complaining about a problem, which action would they most likely take?
When effective leaders hear others complaining about a problem, THE action would they most likely take is: To try to learn how big the problem really is.
Who is a leader?A leader is person that possess a leadership skills and help to direct and lead the people that are under him/her.
An effective Leaders does not ignore problems but they tend to learn how big the situation and try to figure and solve it.
Therefore the action would they most likely take is: To try to learn how big the problem really is.
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The monetary arrangements made at bretton woods resulted in what type of exchange rates assigned to member nations’ currencies?
The monetary arrangements made at bretton woods resulted in fixed exchange rates assigned to member nations’ currencies.
What is fixed exchange rate?Fixed exchange rate can be defined as the way in which currency does not varies but it is fixed.
When an exchange rate is fixed this means that the currency of a nation or country is fixed to another country currency and does not fluctuate or vary.
Therefore the monetary arrangements made at bretton woods resulted in fixed exchange rates assigned to member nations’ currencies.
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Your client has recorded a bill for $100 in quickbooks online for some supplies they bought from walmart. when reviewing their bank feed, you see an item for $100 paid to walmart dated the same as the bill transaction. which action should you take
As an accountant, the bill of $100 for supplied bought from Walmart shall be verified, and a journal entry shall be made where the Supplies and Inventories shall be debited, and cash shall be credited.
What is a journal entry?A systematic manner of recording the financial transactions of an organization in a chronological way, for the purpose of maintenance of accounting records, is known as a journal entry.
In case when an organization purchases inventories or supplies for cash payment, it is an expense for them, and thus it supplies balance is debited and cash balance will be credited.
Hence, the significance of journal entry for the given transaction shall be made in the manner as given above.
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which of the following is not an economic goal of leaders of most nations? a. efficiency b. price stability c. growth d. full employment e. excess goods and services
One thing that is not the economic goal of most nations is e. excess goods and services.
What economic goals do most countries want?Most countries want to be able to provide their people with an adequate living standard.
For this to happen, the economy needs to be growing and have price stability as well as full employment. There is no need for excess goods and services because this represents a waste of resources.
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An employee handling key management discovers that a private key has been compromised. Evaluate the stages of a key's life cycle and determine which stage the employee initiates upon learning of the compromise.
The stage the employee initiates upon learning of the compromise is Revocation.
How to illustrate the information?Upon learning of a compromise, the current key should be revoked, and a new key can then be generated.
Certificate generation identifies the public part of a key pair as belonging to a subject, and the subject submits it for signing by the CA as a digital certificate with the appropriate key usage.
Key generation occurs during the initial distribution of the key, or after having revoked one. Expiration and renewal are used for a key pair that has not been revoked or expired after a certain period. A given shelf-life increases security.
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Shelly is interested in buying a used Jeep from a private individual. She would really like to have some type of warranty, however this sale would be covered by the principle of:
Sale are generally covered by the principle of caveat emptor in the contract.
What is the maxim "caveat emptor"?This is a principle that states that the buyer purchases at his own risk in the absence of an express warranty in the contract.
Hence, as she would like to have some type of warranty, then, such sales will be covered by the principle of caveat emptor in the contract.
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A charity bingo game costs $2 per round and has a $13 entry fee for an adult. It costs $3 per round and a $10 entry fee for a child. For how many rounds of bingo are the costs the same for an adult and a child?.
An equation is formed of two equal expressions. The number of rounds of bingo for which the cost of a child and an adult will be equal is 3.
What is an equation?An equation is formed when two equal expressions are equated together with the help of an equal sign '='.
Let the number of rounds played be represented by x.
Given the rounds of bingo costs the same for an adult and a child for x number of games, therefore,
13 + 2x = 10 + 3x
13 - 10 = 3x - 2x
3 = x
Hence, the number of rounds of bingo for which the cost of a child and an adult will be equal is 3.
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Answer:3
Explanation:
Categories for housing structures with different attributes include:
Categories for housing structures with different attributes includemultiple-unit dwelling.
What is housing structures?Residential structure can be regarded as the structure that is been used, which is very suitable for dwelling which could be a single- or multi-family home.
This could be categorized as :
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the nurse is preparing written information for an older adult who is to manage intermittent self-catheterization. which strategy will be most effective?
The strategy that will be most effective when preparing written information for an older adult who is to manage intermittent self-catheterization is to use short words.
What is the reason why the nurse should use short words?In this case where the nurse is preparing written information for an older adult , using of short words would make the patient to be able to understand the information.
In this case, the short word brings about simplicity which result into better understanding.
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Trina sells dolls and accessories, and doesn't have much time to update her Search campaigns with her ever-changing inventory. How can Dynamic Search Ads help Trina
Trina will benefit from Dynamic Search Ads that can automatically generate keyword lists based on the content of websites.
What are dynamic search ads?Dynamic Search Advertisements leverage the content of your website to target your ads and can assist fill in the gaps of your keyword-based campaigns. They are ideal for advertisers with a well-developed website or a huge inventory. In order to keep your advertising relevant and save you time, Dynamic Search Ad headlines and landing pages are also generated using material from your website. You only need to include a unique description.Therefore, Trina will benefit from dynamic search ads because they can automatically generate keyword lists based on the content of websites.
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What leadership theory best informs Skeetar Phelan about the situation she faces in gathering data and stories from Aibileen Clark and Minny Jackson? State the theory and justify your answer.
The leadership theory best suited to the plot of the movie "The Help" is the participative theory.
What is participative leadership theory?In this leadership style, the leader is the one who helps and contributes to the work, creating ways to motivate his people and assisting in their needs, increasing team integration and the participation of all members in the decision-making process.
Therefore, in the movie "The Help" we perceive the participative leadership in the actions of Skeeter, who belongs to high society but decides to write a book about the perspective of black maids, helping them in their needs.
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newman's own organics is considered a socially responsible company because it:
Newman's own organics is considered a socially responsible company because it donates to charity.
What are socially responsible company?Socially responsible company are companies that are committed to the growth and development of their community.
They give voluntary donations to communities around them.
Therefore, Newman's own organics is considered a socially responsible company because it donates to charity.
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Adding deductive reasoning to traditional database management system (dbms) functions is a benefit of integrating an expert system into the database component of a(n) _____ system
The inclusion of the deductive reasoning to traditional database management system is a benefit of integrating an expert system into the database component of a Decision Support System.
What is a Decision Support System?
This refers to the set of related computer programs that is required to assist with analysis and decision-making within an organization.
Hence, the inclusion of the deductive reasoning to traditional database management system is a benefit of integrating an expert system into the database component of a Decision Support System.
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In cities where people typically go to retire, there tends to be larger markets for Viagra. Nancy, a Viagra saleswoman, recently moved from Park City Utah (an amazing place to retire) to Florida (another common place to retire) simply because of its warmer climate and will need to spend some time looking for a new job at one of the many Viagra sales firms in Florida. Nancy would be considered:
Nancy, who was a Viagra saleswoman in Utah before moving to Florida, would be considered frictionally unemployed.
What is frictional unemployment?Frictional unemployment exists in a situation when a person could be gainfully employed but decides to seek employment elsewhere.
The movement from employed status to seeking employment creates frictional unemployment.
Thus, Nancy, who was a Viagra saleswoman in Utah before moving to Florida, would be considered frictionally unemployed.
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