Answer:
The main stages in the risk management process are: identification and assessment of risks, risk mitigation and response, monitoring and control, and review and improvement. During the identification and assessment stage, potential risks and threats are identified and evaluated to assess their likelihood and impact. During the mitigation and response stage, strategies are developed to reduce or eliminate the risks. During the monitoring and control stage, the strategies and processes are monitored to ensure they remain effective. Finally, during the review and improvement stage, the risk management process is regularly evaluated and improved to ensure it remains effective.
Explanation:
The risk management process typically involves the following stages:
Risk identification: This is the process of identifying potential risks that may impact an organization. This can be done through brainstorming sessions, interviews, surveys, and reviewing historical data.
Risk assessment: Once potential risks have been identified, they need to be assessed in terms of their likelihood and impact. This helps to prioritize the risks and determine which ones require the most attention.
Risk evaluation: In this stage, the organization evaluates the cost-benefit of different risk management options. The organization will look at the potential cost of implementing a risk management strategy and the potential benefits of that strategy.
Risk control: Once the organization has evaluated the different options, it needs to implement the chosen risk management strategy. This can include implementing controls to reduce the likelihood of a risk occurring or reducing the impact of a risk.
Risk monitoring and review: The final stage of the risk management process is monitoring and reviewing the effectiveness of the chosen strategy. This helps the organization to understand the impact of its risk management efforts, identify any new or emerging risks, and make any necessary adjustments to its risk management strategy.
Mahomes Company reported the following data at the end of its first year of operations on December 31.
Cash
Accounts receivable
Equipment
Land
Accounts payable
Owner investments
Mahomes, Withdrawals
Net income
$ 13,500
14,500
16,500
56,500
10,500
52,500
29,500
67,500
(a) Prepare its year-end statement of owner's equity. Hint. Mahomes, Capital on January 1 was $0.
(b) Prepare its year-end balance sheet, using owner's capital calculated in part a.
a) The year-end statement of owner's equity for Mahomes Company would be as follows:
Mahomes, Capital:
January 1: $0
Add: Owner investments: 52,500
Total: $52,500
Less: Withdrawals: 29,500
Mahomes, Capital: December 31: $23,000
b) The year-end balance sheet for Mahomes Company would be as follows:
Assets:
Cash: $13,500
Accounts receivable: 14,500
Equipment: 16,500
Land: 56,500
Total assets: $101,000
Liabilities and Owner's Equity:
Accounts payable: $10,500
Mahomes, Capital: $23,000
Total liabilities and owner's equity: $101,000
This balance sheet shows the company's financial position at the end of the year, with assets on one side and liabilities and owner's equity on the other side. The assets and liabilities must balance, with the total assets equaling the total liabilities and owner's equity. The statement of owner's equity shows the changes in the owner's capital over the year, and how it was affected by investments and withdrawals.
Why does the economy produce where short-run aggregate supply (SRAS) and aggregate demand (AD) cross rather than where long-run aggregate supply (LRAS) and AD cross?
Note that the economy produces where short-run aggregate supply (SRAS) and aggregate demand (AD) cross rather than where long-run aggregate supply (LRAS) and AD cross because the SRAS reflects the economy's ability to produce goods and services in the short-term, while taking into account the current utilization of resources and the prices of inputs.
What is the rationale for the above phenomenon?The economy produces where the short-run aggregate supply (SRAS) and aggregate demand (AD) intersect because the SRAS indicates the economy's potential to generate goods and services in the short run while accounting for current resource utilization and input pricing.
Long-run aggregate supply (LRAS), on the other hand, indicates the economy's potential to generate goods and services in the long run, when all inputs, including capital and labor, have adjusted to their optimal levels. As a result, the LRAS curve is often steeper than the SRAS curve. In the short run, the economy will produce where the SRAS and AD intersect, as this indicates the number of products and services that can be produced given existing restrictions and input costs.
Note that Long-term, the economy will ultimately shift to the point where the LRAS and AD meet because all inputs will have had time to adapt to their optimal levels and prices.
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1. Is technology by itself enough to ensure high-quality customer service?
Answer:
Explanation:
when Ellery says, "I see we'll have to do it the hard way, 'it creates Tention because it revels. how hard Ellery will have to work to solve the crime.
you own perspective for the following cases. Copies (Imitates) once work is strictly forbidden. Date of Submission; Final exam date of Entrepreneurship. Case One On one of those pleasant cold February mornings, Sanjay Nandrajog, the Chief Executive Officer of Field Fresh Foods Private Limited, pondered the future. He had just returned to Delhi from the company's Agri Centre of Excellence (ACE), an R&D farm where he celebrated the dispatch of 500 metric tons of fresh baby corn to Europe. The top management team at Field Fresh was justifiably proud of this achievement as it had required tremendous effort to become an important exporter of Indian produce. Field Fresh had been incorporated in 2004 with the vision of linking Indian fields to the world. India had a number of natural advantages in terms of climate, acres in production, and labor force to become a major power in agriculture. However, a poor infrastructure and an antiquated regulatory regime had stymied efforts to unleash India's promise. Field Fresh hoped to overcome those challenges to bring India to the forefront of the world's agriculture. During its initial years of operation, Field Fresh had found out how difficult it was build a supply chain for produce in India. The company had been through a phase of experimentation where it tried different sourcing models, logistical options, and crops. After less than stellar results, the company had decided to concentrate on one crop, baby corn. Over the next 24 months, the Field Fresh team adapted logistics to overcome crowded and crumbling roads, irregular power supply, and bureaucratic procedures. The company worked with thousands of farmers to gain their trust. By 2010, the Field Fresh team had been able to create an efficient supply chain for baby corn across Punjab and Maharashtra at all levels input delivery, credit, irrigation, timely scientific advice, production as per specifications of European market, careful harvesting, improved produce handling, clean and fast transportation, proper management of cold chain storage environment, gaining safety certification, as well as grading, packaging, and labeling to meet international standards. But success brought with it the expectation of growth. Nandrajog had a number of questions to answer before he could articulate a plan.question number one;Should Field Fresh grow opportunistically into different foreign markets as retailers and wholesalers demanded different products for their respective markets?. question number two;Should Field Fresh continue to focus on baby corn, whose supply chain-market linkages it had perfected, or should the company expand the range of products it would supply? question number three;Field Fresh continue to maintain its primary export focus, or shift relative emphasis to the growing domestic market?
Field Fresh needs to expand into different markets in an entrepreneurial way. By expanding into unfamiliar business sectors, an organization can expand its ubiquity and reach more customers.
What does business sector means?Business sector include manufacturing, commercial, or service companies that perform the same main activity (with respect to the category of economic sector considered). For example, coal mines and farms both belong to the primary sector, but they are very different. Also, the company that makes chocolate and the company that makes car tires are different, but we are in the same industry. A business unit contains different companies. Some are smaller. Others are big.
What are the types of business sector?There are three business sectors: 1) Primary; The primary sector of industry deals with the extraction of raw materials or natural resources from land. 2) Secondary; The secondary industry deals with manufacturing. 3) Tertiary; The tertiary industry is concerned with the provision of services.
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As you learned in the unit, social media can be a help or a hindrance when it comes to your career. Name two social media platforms that are used by people to help them in their careers. Describe two ways each of those platforms can provide advantages in a job search and two ways each of those platforms could put job seekers at a disadvantage.
Answer:
Explanation: As previously said, social media can be both advantageous and harmful to your job. As a result, it is entirely dependent on how you used these sites.
(A) LinkedIn :
Advantages:This is a good search tool that may help you identify individuals in your sector and keep you informed about what's going on around you.It is beneficial in acquiring exposure to potential employers.Disadvantages:There is a possibility of identity theft.This platform's time consumption is one of its most significant drawbacks and turnoffs.Learn more about the social media here:
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Assessment i 4 Amal is a small business owner. She has a team of managers including a human resources manager, an operations manager, a sales manager, and a marketing manager. Who is responsible for the financial decisions that arise in the course of business?
Answer: 4000mL..........
A hospital director believes that more than 61% of the test tubes contain errors and feels an audit is required. A sample of 210 tubes found 147 errors. Is there sufficient evidence at the 0.05 level to substantiate the hospital director's claim?
State the null and alternative hypotheses for the above scenario.
Answer:
Explanation:
To determine if there is sufficient evidence to support the hospital director's claim, you can perform a hypothesis test. The null hypothesis is that the proportion of test tubes with errors is less than or equal to 0.61 (61%), and the alternative hypothesis is that the proportion of test tubes with errors is greater than 0.61 (61%).
Using the sample of 210 tubes, you can calculate the sample proportion of tubes with errors, which is 147/210 = 0.7. You can also calculate the standard error of the proportion, which is the standard deviation of the sampling distribution of the proportion.
Then, you can use a z-test to calculate the test statistic and p-value. The test statistic is (0.7-0.61) / (standard error of proportion).
If the p-value is less than 0.05, then you can reject the null hypothesis and conclude that there is sufficient evidence to support the hospital director's claim that more than 61% of the test tubes contain errors.
You can use the sample data and a calculator or a software to calculate the p-value and the test statistic. It is also important to consult with a statistician.
3. Do you think that the benefits of using technology outweigh the costs for a local organisation? Justify your answer with two reasons.
Answer:
Technology can bring many benefits to a local organization such as improved efficiency, cost savings, and increased access to information and resources. However, there can also be costs associated with using technology, such as the need for training and maintenance, and potential security risks.
One reason the benefits may outweigh the costs is that technology can help an organization to streamline its operations, leading to greater efficiency and cost savings. For example, a business can use automation and other software to manage inventory, reduce paperwork, and improve communications with customers.Another reason the benefits may outweigh the costs is that technology can help an organization to reach a larger audience and expand its reach. For example, a non-profit organization can use social media and other digital tools to engage with supporters and attract new donors, while a local business can use online platforms to expand its customer base.Hope this helps! Enjoy Learning!:D
With the cost approach to value, what is the reproduction cost?
Answer:Reproduction Cost- the estimated cost to construct, as of the effective appraisal date, an exact relica of the building being appraised, insofar as possible using the same materials, construction standards, design, layout, and quality of workmanship, including all the deficiencies, super-adequacies
Explanation:
Examine and compare one of the following product sets. Base your comparison on such factors as features, costs, convenience, ease of use, and value. GPS versus maps Cell phones versus landlines Online shopping versus “bricks and mortar” shopping Standard gasoline automobile engines versus hybrids Online course versus classroom Satellite television versus cable
The option selected is GPS versus maps. It will be examined based on the factors of:
FeaturesCostsConvenienceEase of useValueWhat is GPS versus maps?The GPS versus maps are:
Features: GPS devices have advanced features such as real-time traffic updates, voice-guided directions, and the ability to search for nearby businesses and points of interest. Maps, on the other hand, provide a static image of a location and do not have these advanced features.
Costs: GPS devices can be more expensive than maps, but they can also be more cost-effective in the long run as they provide real-time information and can save time and money on gas by providing the most efficient route.
Convenience: GPS devices are more convenient as they can provide real-time information and turn-by-turn directions, while maps can only show a static image of a location.
Ease of use: GPS devices are generally considered easier to use as they have a user-friendly interface and provide real-time information. Maps can be more difficult to read and interpret, especially for those who are not familiar with the area.
Value: GPS devices provide a greater value as they offer advanced features and real-time information, making them a more cost-effective and convenient option for navigation. Maps, while still useful, do not offer the same level of convenience and value.
In all, GPS devices are more advanced, convenient, and cost-effective than maps for navigation.
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Dallas needs to find a source for his decision-making efforts. What would be the most reliable type of source he could use?
Select the best option.
Peer-reviewed journal
Professional publication
Publication from an established source
Blog
Answer:
Professional publication
Explanation:
While the other options could be beneficial, a professional would be better equipped to give pertinent information
The personal assets of the owner of a company will not appear on the company's balance sheet because of which principle/guideline? A. Cost principle B. Business Entity C. Monetary Unit 2. Which principle/guideline requires a company's balance sheet to report its land at the amount the company paid to acquire the land, even if the land could be sold today at a significantly higher amount? A. Cost principle B. Business Entity C. Monetary Unit 3. Which principle/guideline directs a company to show all the expenses related to its revenues of a specified period even if the expenses were not paid in that period? A. Cost principle B. Matching principle C. Monetary Unit
The personal assets of the owner of a company will not appear on the company's balance sheet because of which principle/guideline business Entity. Thus, option (b) is correct.
Cost principle, principle/guideline requires a company's balance sheet to report its land at the amount the company paid to acquire the land, even if the land could be sold today at a significantly higher amount. Thus, option (a) is correct.
Cost principle, principle/guideline directs a company to show all the expenses related to its revenues of a specified period even if the expenses were not paid in that period. Thus, option (a) is correct.
What is company?The term "company" refers to legal entities that are lawfully registered under the Company Act. The company's major goal is to increase profits while maintaining goodwill. With the assistance of management, the organization was flawlessly run. Employees are compensated by the company.
The personal assets of the owner of a company not appear in the balance sheet if the company is business.
A company was the acquire the land, even if the land could be sold is cost principle.
Directs a company to show all the expenses is called cost principle.
Therefore, option 1. (b), 2, (a), 3. (a) is correct.
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NoraCorp wants to meet a moral minimum of ethical behavior in its operations. It is planning a merger with another company which would cause any or all of the following:
I) Stock price will go up, positively impacting shareholders
II) The company could build a new central headquarters, which would decrease nearby property values
III) The company could fire 200 employees
IV) The company could afford a new production facility, which would negatively impact the environment and landowners' property.
V) The company could offer higher-quality products to customers for lower cost, positively impacting customers.
If NoraCorp wants to meet a moral minimum of ethical behavior in its operations. The statement that is true is: NoraCorp has met its moral minimum requirements.
What is ethical behavior?Ethical behavior can be defined as those behavior that are morally and acceptable example of ethical behavior is to be honest, to be truth worthy, to follow a set rule and regulation and others.
Based on the scenario the company met its moral minimum requirement based on the fact that company is honest as they provide packages to the employees they lay off and they as well have the plans to compensate landowners for damages caused by the new production facility.
Therefore we can conclude that the company met its moral minimum requirements.
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The complete question is:
NoraCorp wants to meet a moral minimum of ethical behavior in its operations. It is planning a merger with another company which would cause any or all of the following:
I) Stock price will go up, positively impacting shareholders
II) The company could build a new central headquarters, which would decrease nearby property values
III) The company could fire 200 employees
IV) The company could afford a new production facility, which would negatively impact the environment and landowners' property.
V) The company could offer higher-quality products to customers for lower cost, positively impacting customers.
NoreCorp decides to move forward with the merger. All of the above events occur, but NoraCorp offers severance packages to the employees it fires and plans to compensate landowners for damages caused by the new production facility. Which of the following is true?
The below two statements are related to mindfulness
a. It is not obscure or exotic.
b. It is evidence-based.
TRUE
FALSE
It is true that mindfulness is evidence based and false that it is exotic.
What is mindfulness?Mindfulness. It's an easy term to understand. It implies that the mind is entirely focused on what is taking place, what you are doing, and the environment you are moving through. That might sound insignificant, but it annoys me that we frequently stray from the topic at hand. When our mind wanders, we get disconnected from our physical selves and quickly become preoccupied with compulsive thoughts about the past or worry about the future. And it stresses us out.
However, awareness is always present to bring us back to where we are, what we are doing, and how we are feeling, no matter how far we go. It's great to give mindfulness a go for a time if you want to understand what it is. You will discover tiny variances in the meaning in books, online, audio, and video since it's difficult to put into words.
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An article in Business Week warned of the dangers of deflation as the collapse of numerous Asian economies was creating worries that Asia might try to "export its way out of trouble" by oversupplying everything from automobiles to semiconductors. Evidence that deflation had become a genuine concern for managers was provided by a statement in the article by John Smith, chairman and CEO of General Motors Corporation: "Fundamentally, something has changed in the economy. In today's age, you cannot get price increases." The article offers advice to managers: "Productivity growth lets companies boost profits even as prices fall." Using short-run production and cost theory comment on this advice.
Answer:
Explanation:
This advice is supported by short-run production and cost theory, which states that firms can increase their profits even when prices are falling by increasing productivity. This can be achieved through cost-cutting measures, such as reducing labor and capital costs, and by increasing efficiency in production processes. By reducing their costs, firms can be more competitive and still realize a profit. Additionally, productivity growth can help firms to produce more goods at a lower cost, thereby increasing the firm's profitability. Thus, the advice given in the Business Week article is in line with short-run production and cost theory.
what is cash position in a business?
Answer:
Cash position in a business refers to the amount of liquid assets a company has available to meet its financial obligations. It is an important measure of a company's financial health and liquidity.
Explanation:
When calculating GDP, investment refers to the:
O amount of new capital goods sold in a given year.
O purchase of stocks, bonds, or other financial assets.
.O purchase of new capital goods like equipment and factories.
Answer: When calculating GDP, investment refers to the purchase of new capital goods like equipment and factories.
Explanation: The gross domestic product is the monetary value of all finished products and services produced in a nation over a specified time period. The expenditure approach, often known as the spending approach, estimates the expenditures of the various economic participants. This strategy can be determined using the formula below:
GDP=C+G+I+NX
Where,
C=Consumption, G=Government spending, I=Investment, NX=Net exports
Investment does not include the purchase of stocks and bonds or the trading of financial assets when calculating GDP. It refers to the acquisition of new capital goods, which includes business equipment, new commercial real estate (including buildings, factories, and stores), residential dwelling construction, and inventory.
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Bell Manufacturing is attempting to choose the better of two mutually exclusive projects
for expanding the firm’s warehouse capacity. The relevant cash flows for the projects are
shown in the following table.
The firm’s cost of capital is 15%.
Project (X) Project (Y)
Initial Investment 500000 325000
Year Cash Inflow Cash Inflow
1 100000 140000
2 120000 120000
3 150000 95000
4 190000 70000
5 250000 50000
a. Calculate the IRR to the nearest whole percent for each of the projects.
b. Assess the acceptability of each project on the basis of the IRRs found in part a.
c. Which project, on this basis, is preferred?
Answer:
Explanation:
a. To calculate the IRR for each project, we need to find the rate at which the net present value (NPV) of the cash flows equals zero.
For Project X:
Initial investment: -500000
Year 1: 100000 / (1 + 0.15)^1 = 86,961
Year 2: 120000 / (1 + 0.15)^2 = 97,739
Year 3: 150000 / (1 + 0.15)^3 = 113,118
Year 4: 190000 / (1 + 0.15)^4 = 137,898
Year 5: 250000 / (1 + 0.15)^5 = 183,333
NPV = -500000 + 86,961 + 97,739 + 113,118 + 137,898 + 183,333 = -40,949
The IRR for Project X is the rate at which NPV = 0, which is approximately 20% to the nearest whole percent.
For Project Y:
Initial investment: -325000
Year 1: 140000 / (1 + 0.15)^1 = 110,870
Year 2: 120000 / (1 + 0.15)^2 = 97,739
Year 3: 95000 / (1 + 0.15)^3 = 77,778
Year 4: 70000 / (1 + 0.15)^4 = 56,410
Year 5: 50000 / (1 + 0.15)^5 = 39,506
NPV = -325000 + 110,870 + 97,739 + 77,778 + 56,410 + 39,506 = -35,857
The IRR for Project Y is the rate at which NPV = 0, which is approximately 17% to the nearest whole percent.
b. The acceptability of a project can be determined by comparing its IRR to the firm's cost of capital. A project with an IRR higher than the cost of capital is considered acceptable, and one with an IRR lower than the cost of capital is considered unacceptable.
Based on the IRRs found, Project X has an IRR of 20% which is higher than the cost of capital of 15%, and it is acceptable. Project Y has an IRR of 17% which is less than the cost of capital of 15%, and it is considered unacceptable.
c. Based on the IRRs and acceptability, Project X is preferred as it has a higher IRR and it is acceptable.
In the Bell Manufacturing company, the following cases are:
a. The IRR of Project X is 15.67%, and Project Y is 17.29%.
b. Both projects are accepted because the IRR of the project is greater than the cost of capital.
c. Project Y is preferred.
The internal rate of return (IRR) is a financial research indicator used to determine the profitability of possible investments.
In a discounted cash flow analysis, IRR is a discount rate that makes the net present value (NPV) of all cash flows equal to zero.
Here,
Calculate the internal rate of return as follows:
Years Cash Inflow Cash Inflow
Project X Project Y
0 500000 325000
1 100000 140000
2 120000 120000
3 150000 95000
4 190000 70000
5 250000 50000
IRR 15.67% 17.29%
Therefore, the following conditions are:
a. Project X is 15.67%, and Project Y is 17.29%.
b. Both are accepted.
c. Only project Y.
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Which of the following statements is NOT true of a market economy?
Question 9 options:
The government may supply some goods or services.
The individual makes his or her own economic decisions.
The economy is defined by a freedom of choice for both buyers and sellers.
The system encourages private ownership of resources.
The pricing of goods is determined by what sellers wish to charge and buyers wish to pay
complete each of the following pairs: 1. columns and 2. debit and 3. net income and 4. assets and 5. accounts payable and 6. owner capital and 7. check stub
Columns and rows, debit and credit, net income and cash flow, assets and liabilities, accounts payable and rent expense, owner capital and rental capital, check stub and pay stub, and check and pay stub are the next pairs.
How do debits and credits work?In order for a company's accounts to balance, debits and credits must be employed in the bookkeeping process. Credits raise liability, revenue, or equity accounts while decreasing asset or expenditure accounts. Credits operate in reverse.
A debit balance is what?The net debit or credit amount somewhere at conclusion of any financial period is referred to simply as the accounts balance. The account does indeed have a debit if the total of the debit side is greater than the entire amount of the credit side.
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describe how Charles and Ebony’s income and expenses changed from the previous year. You should explain which expenditures changed, which expenditures remained the same, and why.
Answer:
Charles and Ebony’s income stayed pretty much the same for the previous year, with about a 5% increase year on year. The majority of their expenses stayed the same as well- rent, utilities, car payments, and insurance all stayed relatively the same. Other accounts such as groceries and entertainment stayed mostly the same as well.
However, there were some notable changes that impacted their expenses from the previous year. Firstly, their medical costs increased as Ebony needed to go to her doctor more often than usual due to a new health issue. They also saw an increase in their travel expenses as they went on a much needed family vacation. Lastly, their charitable donations increased as they donated more to local causes.
In the end, Charles and Ebony’s total expenses remained relatively the same compared to the previous year, with a few notable changes, as certain costs increased while other costs remained the same.
Charles and Ebony’s income stayed pretty much the same for the previous year, with about a 5% increase year on year.
What is the meaning of Income?The amount of money, property, and other transfers of the value obtained over a predetermined period in return for services or goods are often referred to as "income." Income is defined by the context in which the word is employed; there is no single, universal definition.
As both terms refer to positive cash flow, income is frequently mistaken for revenue; nevertheless, in a financial context, the term nearly usually refers to the bottom line or net income.
Investment earnings must be recorded. His primary source of income is farming. We are having trouble paying our bills, even with two paychecks. As a consultant, he makes a respectable living.
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Joe lived all year with Carol and her daughter Cindy. Carol worked part-time and made $6,000. Joe pays all the household expenses and provides all the support for Carol and Cindy. Wht is joes filing status
Answer:
Joe's filing status would likely be "Head of Household" because he pays all the household expenses and provides all the support for Carol and Cindy. To qualify for Head of Household status, the individual must be unmarried or considered unmarried on the last day of the year and have paid more than half the cost of maintaining a home for themselves and a qualifying person, such as Carol and Cindy.
Explanation:
You are starting a brand new job with an annual salary of $70,000. One third (33%) will
go toward taxes (state, local, federal, and Social Security). Following the 90-10 rule,
what is the most you should budget for monthly living expenses? (Round your answer
to 2 decimal places.)
Monthly living expenses
Explanation:
$70,000-(33%}
90-10 rule
70000 × 33÷100=700×33.
=23100
Note: I am not really sure
The starting a brand-new job with an annual salary of $70,000. One third (33%) will go toward taxes (state, local, federal, and Social Security). 23100, is the most you should budget for monthly living expenses.
What is budget?
The term budget refers to the plan and structure of the money spent. The budget is pre-planning for the money spent. The budget is help for which particular sectors are low and high spent. The country budget was plan by the government to how much spent on different sectors. The family are also making the budget for every month.
Determine the given the amount are:
annual salary of $70,000
One third (33%)
The find the budget for monthly living expenses are:
$70,000-(33%}
70000 × 33÷100
700×33 = 23100
As a result, the 23100, is the most you should budget for monthly living expenses.
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a managemental Planing seeks to achieve a coordinated structure of operation., comment
Answer:
Explanation:
A management plan is a document that outlines an organization's strategy for achieving its goals and objectives. It is a comprehensive guide that outlines the steps that need to be taken to achieve the desired outcome. A management plan is a tool that helps organizations to coordinate their operations and activities to achieve a common goal. The plan establishes a clear structure for how resources will be allocated, how decision-making will take place, and how progress will be monitored and evaluated.
One of the key elements of a management plan is the development of a coordinated structure of operation. This involves aligning the various functions and departments within an organization to work together towards a common goal. This coordination helps to ensure that all activities and resources are directed towards achieving the organization's objectives. A well-coordinated structure of operation also helps to avoid duplication of effort, improves communication and collaboration and reduces the risk of conflicting priorities.
In summary, a management plan seeks to achieve a coordinated structure of operation by outlining the steps that need to be taken to achieve the desired outcome, and by aligning the various functions and departments within an organization to work together towards a common goal. This coordination helps to ensure that all activities and resources are directed towards achieving the organization's objectives, and that the organization is able to operate in an efficient and effective manner.
Answer: Managemental or managerial planning seeks to achieve coordinated structure of operation because :
Explanation: Planning is the primary and most important function of management . Planning refer to function which help to determine future course of actions in order to achieve organizational goals. In simple words planning is the process of deciding in advance what to do , when to do, how to do, and who will do the future course of action or tasks
Planning is the basic or very first function/step in the management. All the other functions rely on planning . A sound planning can help the organization achieve success but an unsound planning can break it as well.
Since, planning help in the performance of the other function ; it ultimately helps in achieving the goals efficiently with coordination .
It creates a coordinated structure in the organization .
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Hey,
I am looking for scientific texts on the topic of knowledge management systems.
I am particularly interested in the related question:
Is it better for a company to use one common system or several? Have any of you read something like this somewhere?
1) Note that it is better for a company to use one common knowledge management system.
2) Yes, there are several related texts on Knowledge management. Some of them are:
Knowledge management software is a subset of corporate content management software, which includes a variety of software that specializes in the collection, storage, and/or access of knowledge.
Enterprise-wide knowledge management systems, knowledge work systems, and intelligent approaches are the three primary types of knowledge management systems.
Before determining whether to deploy a centralized or decentralized system, it is generally suggested to perform a thorough assessment of the organization's objectives and goals. Consider the amount and complexity of the knowledge to be handled, the level of cooperation necessary, and the requirement for accessibility and security.
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Gant Limited reported a $15,000 increase in inventory and a $5,000 increase in accounts payable during the year. Cost of Goods Sold for the year was $150,000. The cash payments made to suppliers were
Answer: $160,000
Explanation: CASH PAYMENT MADE TO SUPPLIER is the amount paid to the supplier for the goods received or purchases.
purchases = Cost of goods sold + increase in inventory.
= 150,000+15,000
= 165,000
but here is also increase in the payable account which means some goods are purchased on credit,
so, cash payment made = total purchases - increase in payable
= 165,000-5,000
= 160,000
What is meant when we say that insurance is a risk transfer mechanism?
Answer:
In summary, insurance is a risk transfer mechanism because it allows individuals and businesses to shift the financial burden of unexpected events or losses from themselves to an insurance company, thus protecting them from the potential financial impact of such events.
Explanation:
When we say that insurance is a risk transfer mechanism, we mean that insurance allows individuals and businesses to transfer the financial risk of unexpected events or losses from themselves to an insurance company.
Insurance works by pooling the risks of many individuals or businesses together, so that the financial impact of an unexpected event or loss is spread out among many people. When an individual or business purchases insurance, they pay a premium to the insurance company in exchange for protection against specific risks. If a covered event or loss occurs, the insurance company will pay out a benefit to the policyholder to help cover the costs of the loss.
By transferring the financial risk of unexpected events or losses to an insurance company, individuals and businesses are better able to manage and plan for the potential financial impact of such events. Without insurance, an unexpected event or loss could cause significant financial hardship for an individual or business, making it difficult for them to recover. With insurance, however, the financial impact of such events is greatly reduced, allowing individuals and businesses to maintain their financial stability in the face of unexpected events.
In summary, insurance is a risk transfer mechanism because it allows individuals and businesses to shift the financial burden of unexpected events or losses from themselves to an insurance company, thus protecting them from the potential financial impact of such events.
VALUE STREAM MAPPING
1. Describe the entire process of a service busines (bank) in a way that if a third person reads the description they can easily plot the value stream map.
2. Plot the value stream map for the business process using a diagram
3. Identify and explain improvement opportunities within the business process.
4. Plot the value stream map after implementation of improvement opportunities using a diagram.
In an overview, value stream mapping serves as a critical lean tool for any organization that wants to plan, implement, and improve its lean journey.
Most lean practitioners used the mapping to identify waste, reduce process cycle times and implement process improvement.
How exactly does value stream mapping works?Many lean practitioners regard Value stream mapping as a critical tool for identifying waste, shortening process cycle times, and implementing process improvement.
Value stream mapping is a workplace efficiency tool that combines material processing steps with information flow, as well as other relevant data. VSM assists users in developing a solid implementation strategy that will maximize their available resources while also ensuring that materials and time are used efficiently.
Read more about value stream mapping
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Question 1 of 47
B. Requirement
Which term refers to a condition or capability that is essential in a product or service to satisfy a business need?
A. Story point
C. Feature
******
D. Change
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which represents a change in social preferences that has had the most direct impact on the entertainment marketing industry
One change in social preferences that has had a significant impact on the entertainment marketing industry is the shift towards streaming services and on-demand content.
With the rise of platforms like Netflix, Hulu, and Amazon Prime, consumers are increasingly opting to watch their favorite shows and movies on streaming services rather than through traditional cable or satellite providers.
This has led to a shift in the way entertainment is marketed and distributed. Instead of traditional TV advertising, companies now need to focus on digital marketing and social media promotion to reach their target audience.
Additionally, streaming services have also changed the way entertainment is produced, with more and more shows and movies being produced specifically for streaming platforms.
Another change in social preferences that has had a significant impact on the entertainment marketing industry is the rise of social media influencers, and the growing importance of influencer marketing.
Social media has allowed influencers to gain a large following quickly, which has led to them being able to reach a large audience with a single post or video. This has led to many influencers becoming brand ambassadors and promoting products and services through their social media channels.
These changes in social preferences have led the entertainment marketing industry to adapt and find new ways to reach their target audience and promote their products.
