Technician a is correct.
Technicians are skilled experts employed in almost every industry. They restore, install, replace, and service special structures and systems. Technicians usually work alongside other professional workers and should be capable of reading commands and communicating effectively.
A number of the maximum critical tough competencies a technician can own consist of diagnosing troubles, performing preventative upkeep, working with hand gear, and compliance with protection processes. when it comes to smooth competencies, technicians must have sturdy customer support and verbal exchange skills.
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Which promotional element is a form of communication management that seeks to influence the feelings, opinions, or beliefs held by customers and others about a company and its products, using tools like special events, lobbying, and press conferences?.
Public relations is the promotional element is a form of communication management that seeks to influence the feelings, opinions. Hence, option D is correct.
What is Public relations?A promotional element known as "public relation" refers to a sort of communication management that tries to alter how people feel, think, or believe about a company and its products by using methods including special events, lobbying, and press conferences.
Public relations is the term for a collection of methods and strategies used to control how news about a person or organization is disseminated to the general public, particularly the media. Disseminating significant business news or events, upholding a company's reputation.
Thus, option D is correct.
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multiple choice question.
A) sales promotion
B) advertising
C) personal selling
D) public relations
ana is using a test model of her firm's new glow-in-the-dark nail polish to see whether it works according to the design specifications. ana is engaged in
Ana is using a test model of her firm's new glow-in-the-dark nail polish to see whether it works according to the design specifications. Ana is engaged in alpha testing. Hence, option C is correct.
What is alpha testing?Alpha testing is the initial step in figuring out whether a new product will work as expected. Before moving on to beta tests, which involve a representative sample of the target market utilizing the product, internal personnel conducts early-stage alpha tests.
Alpha testing is done to ensure that a product is ready to be submitted to potential end users for beta testing. During the Alpha testing stage, internal testers check the product for bugs and other quality issues. These internal testers include team members, stakeholders, and others. Alpha testing is done on a product before it is released for sale.
Thus, option C is correct.
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The options are missing-
A. test marketing.
B. product launch.
C. alpha testing.
D. target marketing.
E. concept testing.
suppose that in the small town, prairie, there are only two cable providers. what type of market structure does the local cable market have?
Although there are fewer companies operating in oligopolistic markets, they do so on a massive scale.
What kind of market structure is cable television industry?The oligopoly market structure is exemplified by cable corporations like Comcast. There aren't many cable companies, and the services they provide to the public are often similar or hardly different. Because they imitate price reductions made by rival businesses, the companies are interdependent.In oligopoly markets, a limited number of suppliers control the market. They are present in every nation and a wide variety of industries.When a few big companies control all or most of the sales in an industry, oligopoly results. There are many industries that exhibit oligopoly, such as the auto sector, cable television, and commercial aviation.There is an oligopoly on the market for cable sports channels.No, the neighborhood cable provider is not used as an example of an industry with perfect competition. It is an illustration of an oligopoly firm, where there are few or no firms and none have any influence over the others.To Learn more About oligopoly markets Refer To:
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uppose a tax cut affected aggregate demand and aggregate supply. the shift in aggregate supply would make the a. price level change by more than otherwise and real gdp change by less than otherwise. b. price level change by less than otherwise and real gdp change by more than otherwise. c. price level and real gdp change by less than otherwise. d. price level and real gdp change by more than otherwise.
The graph is mentioned for the answer the shift in aggregate supply would make the a. price level change by more than otherwise and real gdp change by less than otherwise.
Real GDP can occasionally be higher than potential GDP. This would indicate that the economy is OVERHEATED, resources are being overused, and a slowdown is necessary.
When Real GDP is lower than Potential GDP, it indicates that resources are not being used to their full potential.
Real GDP can occasionally match potential GDP. The economy is in equilibrium, making this the ideal state.
The purpose of the aforementioned is to demonstrate how Real GDP varies around Potential GDP due to the Business Cycle.
The Business Cycle is a four-stage cycle that the economy experiences over time. It has two phases: a Recession and an Expansion, and two turning points: a Peak and a Trough.
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within any project, the first step of project scope definition is to multiple choice analyze the strategic plan. analyze the current budget plan. meet with team members. select team members. define the overall objective to meet the customer's needs.
To meet the needs of the client is the overarching goal that must be defined as the first step in every project's scope definition.
The project's scope is what?A list of particular project objectives, deliverables, tasks, costs, and dates must be determined and documented as part of the project scope phase of planning. A scope statement or terms of reference is a written description of a project's scope. It defines the project's parameters, assigns roles to each team member, and outlines the processes by which finished work will be examined and approved. This documentation aids the project team's concentration and task-orientation throughout the project. The team's decision-making about change requests during the project is likewise guided by the scope statement.
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QUESTION 1
____ or soft skills, are abilities that are essential for success in any career.
1. Transferable skills
2. Technical skills
3. Work Experience
4. Talent
QUESTION 2
Work experience =
1. Jobs
2. Personal projects
3. Positions of responsibility
4. All of above
QUESTION 3
A ___ is anything that separates one thing from another. It can be a symbol, design, name, sound, reputation, emotion, tone, etc.
1. Brand
2. Weakness
3. Strength
4. Logo
QUESTION 4
The information about a person that exist on the internet as a result of their online activity is a ____?
1. Digital footprint
2. Logo
3. Skill
4. Brand
QUESTION 5
At this point for your project you should have:
(Select all that apply)
1. 3 talents/interest
2. 3 strengths & weaknesses - from list of 24 possibilities
3. 3 careers you are interested in & the career cluster they belong to
4. 3 work experiences or skills that you have acquired
(You don’t have to answer them all I just need help!!)
Transferable skills or soft skills, are abilities that are essential for success in any career.
What are Transferable skills?A transferable skill refers to an individual's ability or expertise which may be used in a variety of roles or occupations. Some examples of a Transferable skills include communication, problem-solving and self-control.
Work experience equals to:
1. Jobs2. Personal projects3. Positions of responsibilityWhat is a Work experience?Basically, a work experience refers to any experience that a person gains while working in a specific field or occupation but the expression is widely used to mean a type of volunteer work that is commonly intended for young people (like students) to get a feel for professional working environments.
A brand is anything that separates one thing from another. It can be a symbol, design, name, sound, reputation, emotion, tone, etc.
What is a brand?In marketing, a brand refers to a business and marketing concept that helps people identify a particular company, product, or individual.
The information about a person that exist on the internet as a result of their online activity is a digital footprint.
What is a digital footprint?Also known as a digital shadow, this refers to one's unique set of traceable digital activities, actions, contributions and communications manifested on the Internet or digital devices.
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which of the following is correct regarding a work sheet? multiple choice question. if a company reports net income, then this amount will be added to the adjustments column. the adjusted trial balance column totals will be off by the net income amount. each set of column totals must balance on the trial balance columns, adjustments columns and the adjusted trial balance columns. if an account requires more than one adjustment, the second adjustment is not entered.
"Each set of column totals must balance on the Trial Balance columns, Adjustments columns and the Adjusted Trial Balance columns." is true about a work sheet.
What is a Trial balance?A trial balance is a list of every general ledger account in a company's ledger. Each nominal ledger account's name and current balance amount will be listed in this list. There will be a debit balance or a credit balance in each nominal ledger account.
Trial balances are a crucial document for auditors and are used to create balance sheets and other financial statements. The general ledger accounts' debit and credit column totals are compared using a trial balance to look for any accounting errors.
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what shipping term should mavis include in the contract to ensure juno carries the risk of loss until the sculpture leaves the ship?
When the items leave the ship, the buyer assumes the risk of loss, according to the maritime idiom "delivery ex-ship" (delivery from the carrying vessel).
When a business, like Dell, ships a product to a customer, it alters the customer's name as soon as the package is sent out for delivery by a common carrier.
In the event that a computer is damaged after being delivered to the carrier, Dell is not liable.
If FedEx has a policy for ensuring the product's safety during delivery, it will either be responsible for the damage to the computer or will not be. If not, the purchaser is liable for any harm. However, once it has given the product to FedEx for delivery, Dell will not be held accountable in any of the scenarios.
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the foreign entry mode that is the most costly, with firms bearing the full capital costs and risks of operating overseas, is .
From a capital investment perspective, creating a wholly owned subsidiary is typically the most expensive way to serve a foreign market. The full capital costs and risks of establishing overseas operations must be borne by the companies doing this.
Due to their lack of dedication to the market, small-scale market entry can also make it difficult for the company to increase market share.
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managers who are believe that their native country, culture, language, and behavior are superior to all others.multiple choice question.
Managers who believe that their native country, culture, language, and behavior are superior to all others are Ethnocentric.
What is Ethnocentric?The term "ethnocentrism" refers to cultural or ethnic prejudice, whether conscious or unconscious, in which a person sees the world through the lens of his or her own group, setting their own group as the archetypal group and evaluating all other groups in light of this ideal.When someone feels that their own cultural group is superior to others, they are said to be ethnocentrists. People who are ethnocentric will think that the beliefs, ideas, values, and practices of their own culture are correct, and they will judge other ethnic groups by the criteria of their own culture.Ethnocentrism refers to the belief held by managers that their own nation, culture, language, and conduct are superior to all others.Therefore, managers who believe that their native country, culture, language, and behavior are superior to all others are Ethnocentric.
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abc corporation issued bonds with a 10-year maturity, $1,000 par value, and 7% coupon rate (paid semiannually). two years after issue, interest rates on similar bonds fell to 5.75%. what price should abc corporation bonds sell for in the secondary market? a) $1,079.26 b) $942.50 c) $1,217.39 d) $1,057.50
$1,232.15 is the price should ABC corporation bonds sell for in the secondary market.
75[{1-(1.055)-19}/.055] + 1000(1.055)-19 = 75(11.6076535) + 1000(.3615790)
= 1,232.15
What is a secondary market?The financial market where previously issued financial instruments like stock, bonds, options, and futures are bought and sold is known as the secondary market, also known as the aftermarket and follow on public offering.
The National Stock Exchange (NSE), the New York Stock Exchange (NYSE), the NASDAQ, and the London Stock Exchange are a few examples of well-known secondary markets (LSE)
After the initial public offering, there is a market for already-issued securities called the secondary market (IPO). The supply and demand of shares is the basis for how capital markets operate.
In secondary markets, the fair price of shares is maintained based on the equilibrium of supply and demand.
The financial market where previously issued financial instruments like stock, bonds, options, and futures are bought and sold is known as the secondary market, also known as the aftermarket and follow on public offering.
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a point which is outside of the lower control limit on an r-chart multiple choice is an indication that no cause of variation is present. should be ignored because it signifies better-than-average quality. should be investigated because an assignable cause of variation might be present. should be ignored unless another point is outside that limit. is impossible since the lower limit is always zero.
should be looked into because there might be a determinable cause for the variation.
Points outside of the control bounds should be looked into because they may be signs of the presence of non-random variation. Points that deviate from the control limits could be the consequence of a unique cause that was promptly remedied, either intentionally or accidentally. It might also be a sign of a sporadic issue. Two locations outside the control boundaries may be seen in the graph below. Points outside the regulated ranges should non-random patterns of points indicate an uncontrolled process (called special-cause variation). If the process is under control, no repairs or modifications are required.
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bob budgets $12 a week for entertainment. he splits his time between going to the movies and going to the gym. each movie costs $3 and each session at the gym also costs $3. the total utility from each of these activities is shown in the table below. bob's utility maximizing point is:
Bob budgets $12 a week for entertainment. he splits his time between going to the movies and going to the gym. each movie costs $3 and each session at the gym also costs $3. bob's utility maximizing point is: 1 movie and 3 gym workout session.
How to solve for the utilityUtility maximization is given as
MU / pm = MU / Pg
This would be satisfoed at the pint where the movies is = 1 and the gym workout is given as 3.
At this point, the budget that Bod would have would be given as 12 dollars.
Such that
1 x 3 + 3x 3
= 3 + 9 = 12 dollars
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a(n) occurs when a union encourages its members and the general public not to buy the products of a firm involved in a labor dispute.
A primary boycott occurs when a union encourages its members and the general public not to buy the products of a firm involved in a labor dispute.
What is a primary boycott?A primary boycott happens when a union urges its customers to stay away from a company that is embroiled in a labor dispute.Usually refers to instances where a trade union and its members, as part of an employment dispute, prevent or make it difficult for customers or businesses to purchase an employer's goods or services.Secondary boycotts are actions done against an organization or corporation that transacts business with the principal target of the primary boycott.The most common situation in which the word "boycott" is used is antitrust law. It is a deliberate decision to avoid doing business with an unfavorable buyer or seller.Therefore, a primary boycott occurs when a union encourages its members and the general public not to buy the products of a firm involved in a labor dispute.
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The Wider The Dispersion Of Returns On A Stock, The: Higher The Standard Deviation. Lower The Variance. Lower The Real Rate Of Return. Lower The Expected Rate Of Return.
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The wider the dispersion of returns on a stock, the:
higher the standard deviation.
lower the variance.
lower the real rate of return.
lower the expected rate of return.
The wider the dispersion of returns on a stock, the higher the standard deviation.
The difference between each price and the mean, which reveals a wider price range, increases with a security's standard deviation.
The volatility of investment return is measured by a standard deviation in the world of finance. A wider range of results is often seen as the higher the standard deviation. A small standard deviation, on the other hand, usually indicates a more stable investment.
The standard deviation may be used to estimate market volatility or the variation in asset values from their mean price. The standard deviation increases when prices fluctuate erratically, signaling a riskier investment. Investments have minimal risk because of low standard deviation, which indicates stable pricing.
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if you lease a vehicle for 4 years, the leasing company will tell you how much you will have to pay if you want to buy it at the end of the lease. this cost is much less than the price of the new vehicle. what accounts for the difference between the new vehicle price and the cost to buy it after 4 years?
Depreciation is the accounts for the difference between the new vehicle price and the cost to buy it after 4 years.
What is Depreciation?Due to usage, deterioration, or obsolescence, an asset loses value over time. The unit of measurement for this drop is depreciation.
Depreciation is the decrease in value of an item brought on by factors like use and age, but it can also be brought on by a variety of other factors, such as unfavorable market conditions. Property that the institution has spent $5,000 or more on is depreciated.
Thus, it is Depreciation.
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There are many differences between a market served by a monopoly and a market that is perfectly competitive. Indicate whether each item is associated with a single-price monopoly, perfect competition, or is true of both market structures.
In a monopolistic market, there is only one company that has complete market dominance and sets the prices and levels of supply for goods and services.
What is the main difference between a monopoly and a perfectly competitive market?In a monopolistic market, there is only one company that has complete market dominance and sets the prices and levels of supply for goods and services.In contrast to a monopolistic market, which is made up of just one firm, a perfectly competitive market is made up of numerous firms.By deliberately limiting supply, which lowers output and raises prices, a monopolist generates positive economic profit.This does not occur in a completely competitive market, when total surplus is maximized.As a result, a completely competitive market produces more than a monopoly.To learn more about monopolistic market refer,
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Completing college in the usual 4 years falls
under which SMART goal category?
A. Timely
B. Measurable
C. Specific
D. Attainable
Completing college in usual 4 years falls under Timely category of SMART Goals.
What are SMART Goals?
College students who set goals are more likely to succeed academically and professionally. Students can set attainable, pertinent, and constructive goals for the future by using SMART goals. Learning about these objectives can help current and prospective college students. The abbreviation S.M.A.R.T. provides guidelines for creating goals and objectives for improved results in project management, employee performance management, and personal development, among other areas. George T. Doran first coined the phrase in the Management Review issue from November 1981.
Hence, Completing college in usual 4 years falls under Timely category of SMART Goals.
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the balanced performance scorecard cautions business leaders to look at strategy and performance through four interrelated perspectives. which of the following is not one of these perspectives?
The balanced performance scorecard cautions corporate executives to examine strategy and performance from four interconnected viewpoints. Vision and strategy perspectives are not among these perspectives.
In the workplace, job performance is the postulated conception or requirements of a role. There are two forms of job performance: contextual and task. Task performance is determined by cognitive capacity, whereas contextual performance is determined by personality. Task performance is related to behavioral responsibilities that are identified in job descriptions and remuneration schemes. They are directly tied to organizational performance, but contextual performances are value-based and add new behavioral responsibilities that are not recognized in job descriptions and are not compensated; these are extra roles that are indirectly related to organizational performance. Citizenship performance, like contextual performance, refers to a set of individual activities/contributions (prosocial organizational behavior) that sustain organizational culture.
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ace tutors is a business that tutors high-school students who are preparing to take the sat test as part of their college entrance requirements. because it possesses a unique offering that is desirable to a specific market, ace tutors would most likely use what type of target market strategy?
The target market strategy that AC instructors would most likely utilize is niche marketing because it has a distinctive offering that is appealing to a particular market.
The definition of niche marketing is concentrating all marketing efforts on a particular, clearly defined population segment. The concept of a "niche" does not actually exist; rather, it is produced by clever marketing strategies and determining what the target audience wants.
For example, the market for women's shoes has multiple discrete divisions or niches. Shoes for plus-size ladies, shoes for nurses, and shoes for vegan women are all examples of specialized markets. Almost every market may be further categorized or modified depending on the particular needs and preferences of its players.
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Brief explanation on how the Uber company’ miion tatement i contributing toward
achieving the company’ goal and objective
Uber's project declaration manner that We are a tech enterprise that connects the bodily and virtual worlds to assist make motion show up at the faucet of a button.
The required details for Uber in given paragraph
Uber Technologies Inc.'s (UBER) explosive boom and regular controversy make it one of the maximum charming corporations to emerge over the last decade. The worldwide ride-sharing application, based in 2009, disrupted current transportation as we are aware of it and at one factor grew to grow to be the highest-valued non-public startup enterprise within side the world. Ten years after its founding, Uber went public on May nine, 2019. Though the street has been bumpy,
Uber stays a first-rate enterprise within side the ride-sharing space. In its maximum latest quarterly profits release, for Q2 monetary year (FY) 2021, Uber suggested a internet earnings of $1.1 billion, $3.nine billion in revenue, and 1.five billion journeys on its platform.
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a company had total sales of $1,000,000, net sales of $975,800, and an average accounts receivable, net of $119,000. its accounts receivable turnover equals:
The correct answer or accounts receivable turnover is 8.2.
Accounts receivable turnover is the average number of times a company collects its receivables in a given year. Accounts receivable turnover is a metric that analysts and accountants use to assess how well a company collects on the credit it gives to its customers.
It is given in the question that a company had total sales of $1,000,000.
Net sales = $975,800
Average accounts receivable= $119,000
To calculate the account receivable turnover, we will be using the following formula:
That is; account receivable turnover= net sales / Average accounts receivable
∴account receivable turnover = 975,800/119,000 = 8.2
Hence, accounts receivable turnover is 8.2.
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When delivering 2023 armada, what should you demonstrate to customers about the 2nd- row seats?.
Switches are situated next to each seat and in the quarter panel trim on the passenger side. Each seatback has its own switch and functions independently.
What is switch and functions ?At the data link layer (layer 2) of the OSI model, a switch is actually thought of as a multiport network bridge that processes and forwards data using hardware addresses. By combining routing operations, certain switches can also process data at the network layer (layer 3).Electric current can be created and broken in a circuit using a switch. Equipment used on a daily basis, such as the television, washing machine, fan, and light, are turned on and off using it.Layer 2 switching performs the following three unique tasks: address learning, forward/filter decisions, and loop avoidance.To learn more about switch and functions refer to:
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an investor has the following portoflio: company shares owned price per share expected return jnj 125 $35 6.8% cat 100 $53 8.3% ge 250 $67 7.7% ibm 175 $97 6.9% what is the expected return of the portfolio?
The portfolio's anticipated return is 7.37%.
The profit or loss an investor can anticipate realizing from an investment is known as the expected return. Calculating an expected return involves multiplying possible outcomes by their likelihood before adding the results. Return expectations cannot be ensured.
The entire amount of money an investor anticipates to win or lose on a specific investment or portfolio is known as their expected return. When deciding whether to purchase new investments or keep their current holdings, investors frequently use the predicted return as a guide.
Shares (i) PPS (ii) Total Value (iii) = (i) × (ii) Return (iv) Return (iii) × (iv)
125 35 4,375.00 6.8% 297.50
100 53 5,300.00 8.3% 439.90
250 67 16,750.00 7.7% 1,289.75
175 97 16,975.00 6.9% 1,171.28
Tota;
650 252 43,400.00 29.7% 3,198.43
Expected Return = Return / Total Value
= 3198.43 / 43400
= 7.37%
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when your father was born 45 years ago, his grandparents deposited $450 in an account for him. today, that account is worth $39,000. what was the annual rate of return on this account?
The annual rate of return on this account is 9.1%.
What is rate of return?A financial gain is the return on an investment. It includes both changes in the investment's value and any cash flows (or securities, or other assets) that the investor receives as a result of the investment, such like interest payments, coupons, dividends paid, stock dividends, or the payoff from a derivative or structured product. If the investment amount is more than zero, a loss rather than a profit is referred to as a negative return.
It is helpful to convert each return into a return over a time period of a standard duration so that returns over time periods of varied lengths can be compared on an equal basis. The conversion's outcome is referred to as the rate of return.
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Why is there a need to compare and align your pecs with the pecs of a successful entrepreneur?.
PECs, or Personal Entrepreneurial Competencies, are what you need to compare and align with the pecs of a successful entrepreneur.
It is described as those skills or character traits that a successful entrepreneur must possess. The likelihood of someone succeeding as an entrepreneur increases with the degree to which they exhibit these qualities.
An entrepreneur is a person who starts a new business, taking on the most of the risks and reaping the majority of the gains. The term Competencies "entrepreneurship" refers to the act of starting a business. The entrepreneur is frequently viewed as an innovator, a source of novel concepts, products, services, and/or business models.
In any economy, entrepreneurs play a crucial role because they have the knowledge and drive to foresee demands and market valuable new ideas. Profits, notoriety, and prospects for ongoing expansion are given to entrepreneurialism that succeeds in assuming the risks involved in Competencies founding a startup. Failure in entrepreneurship costs the participants money and reduces their visibility in the market.
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is the constant annual return over the 20 years that would provide the same total cumulative return over the entire investment period.
Geometric average is the constant annual return over the 20 years that would provide the same total cumulative return over the entire investment period.
Absolute go back refers to the quantity of finances that a funding has earned. Also called the overall go back, absolutely the go back measures the advantage or loss skilled with the aid of using an asset or portfolio impartial of any cumulative return or different standard.
An annual charge of go back is the income or loss on a funding over a one-yr period. There are many approaches of calculating the once a year charge of go back. If the charge of go back is calculated on a month-to-month basis, multiplying it with the aid of using 12 expresses an annual charge of go back.
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Higher unemployment insurance benefits tend to increase unemployment because they?.
Higher unemployment insurance benefits tend to increase unemployment because they reduce the opportunity cost of job search and, hence, increase the search time.
Insurance is a way of protection from loss in that, in exchange for a fee, a celebration agrees to ensure another party's compensation within the event of a precise loss, damage, or injury. it's a type of risk management, primarily used to hedge against the danger of a contingent or unsure loss.
An entity that provides insurance underneathstood|is thought} as an insurer, insurance company, insurance carrier, or underwriter. someone or entity who buys insurance is known as a policyholder, whereas a person or entity lined under the policy is termed an insured. customer and insured are usually used as however don't seem to be essentially synonyms, as coverage will typically extend to additional insureds who failed to obtain the insurance.
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Empirical statements describe how the world should be. Normative statements describe how the world is.
A declaration outlining how the sector must be. is a statement of the norm. A normative statement implies a cost judgment based on how a situation appears. Regular cost assessments are presented in this normative statement.
What do empirical statements mean?Empirical statements don't evaluate the social reality; they merely describe it. They are assertions that can be empirically evaluated. Beginning students enter class oblivious of the many types of claims they are making, but with enough practice, they can grow to recognize the distinctions.
What do normative statements refer to?
A normative statement articulates a value judgment regarding the desirableness of a circumstance. A normative statement also referred to as a negative statement, is intended to discuss how the world should be, as opposed to a descriptive statement, which is intended to explain the world as it is.
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crane company manufactured 6,240 units of a component part that is used in its product and incurred the following costs: direct materials $36,400 direct labor 15,600 variable manufacturing overhead 10,400 fixed manufacturing overhead 20,800 $83,200 another company has offered to sell the same component part to the company for $13 per unit. the fixed manufacturing overhead consists mainly of depreciation on the equipment used to manufacture the part and would not be reduced if the component part was purchased from the outside firm. if the component part is purchased from the outside firm, crane company has the opportunity to use the factory equipment to produce another product which is estimated to have a contribution margin of $22,880. prepare an incremental analysis report for crane company which can serve as informational input into this make or buy decision. (enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45). do not leave any field blank. enter 0 for the amounts.)
The preparation of an incremental analysis report for Crane Company for the make-or-buy decision is as follows:
Incremental Analysis:Make Buy
Direct materials $36,400
Direct labor 15,600
Variable overhead 10,400
Total variable costs $62,400 $81,120
Contribution margin (22,800)
Total incremental costs $62,400 $58,320
Incremental benefits of outsourcing = $4,080
What is a make-or-buy decision?A make-or-buy decision is an outsourcing decision that considers the profitability of manufacturing or providing some goods or services internally in contrast to external production or outsourcing.
Every make-or-buy decision must be based on relevant costs. Relevant costs are costs that impact a decision.
Incremental analysis reports present the relevant costs and benefits in make-or-buy decisions.
The number of units manufactured = 6,240
Production costs:
Direct materials $36,400
Direct labor 15,600
Variable overhead 10,400
Total variable costs $62,400
Fixed overhead 20,800
Total costs = $83,200
Outside supplier's price per unit = $13
Contribution margin = $22,800
Incremental benefits of outsourcing vis-a-vis internal production = $4,080 ($58,320 - $62,400)
Thus, in this make-or-buy decision, we can advise Crane Company to outsource the manufacturing of the component to the outside supplier, given the incremental benefits of $4,080.
Learn more about make-or-buy decisions at https://brainly.com/question/15304126
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