Supply is the total amount of goods available; quantity supplied is how much is made available at each price level.
What is the difference between quantity supplied and quantity demanded?Excess demand occurs when there is more demand for a good or service than there is supply for the price being asked. A shortage is another name for this. Excess Supply: When the quantity delivered at the agreed-upon price is greater than the quantity required. A surplus is another name for this.
What is difference between supply and quantity supplied?Supply is a measure of how much the market can provide at various prices. Quantity supplied, on the other hand, shows the volume of goods that producers will offer at a given cost. The commodity's supply is shown by the supply schedule or supply curve.
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Reasons why customers defect
Which of the following statements is true of ethics?
Record the adjusting entry for uncollectible accounts.
Calculate the effect on net income (before taxes) and total assets in 2024 for each method.
1. Recording the adjusting entry for uncollectible accounts on December 31 using the Percentage-of-receivables method of Suzuki Company is as follows:
Debit Bad Debts Expense $3,580
Credit Allowance for Uncollectible Accounts $3,580
To record the adjusting entry for uncollectible accounts.2. Recording the adjusting entry for uncollectible accounts on December 31 using the Percentage-of-credit sales method of Suzuki Company is as follows:
Debit Bad Debts Expense $6,220
Credit Allowance for Uncollectible Accounts $6,220
To record the adjusting entry for uncollectible accounts.3. The computation of the effect (reduction) on net income (before taxes) and total assets in 2024 for each method is as follows:
Net Income Total Assets
Percentage-of-receivables method -$3,580 -$4,680
Percentage-of-credit sales method -$6,220 -$7,320
Data and Calculations:Credit Sales for 2024 = $244,000
Accounts Receivable, December 31, 2024 = $39,000
Allowance for Uncollectible Accounts, December 31, 2024 = $1,100 (Credit)
1. Percentage-of-receivables method. Suzuki estimates 12% of receivables will not be collected.
Uncollectible Allowance = $4,680 ($39,000 x 12%)
Adjusting Entry:Bad Debts Expense $3,580 Allowance for Uncollectible Accounts $3,580
2. Percentage-of-credit-sales method. Suzuki estimates 3% of credit sales will not be collected.
Uncollectible Allowance = $7,320 ($244,000 x 3%)
Adjusting Entry:Bad Debts Expense $6,220
Allowance for Uncollectible Accounts $6,220
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Question Completion:Suzuki Supply reports the following amounts at the end of 2024 (before adjustment).
Credit Sales for 2024 $244,000
Accounts Receivable, December 31, 2024 39,000
Allowance for Uncollectible Accounts, December 31, 2024 1,100 (Credit)
Required:
1. Record the adjusting entry for uncollectible accounts using the percentage-of-receivables method. Suzuki estimates 12% of receivables will not be collected.
2. Record the adjusting entry for uncollectible accounts using the percentage-of-credit-sales method. Suzuki estimates 3% of credit sales will not be collected.
3. Calculate the effect on net income (before taxes) and total assets in 2024 for each method.
The purpose of advance organizers is to
When implementing the various strategies for risk management, it is necessary to take into
account the individual components that makeup risk management. Illustrate.
The different components of a risk management process add up to the overall system. If any of the components fails, it may have an impact on the overall risk management system.
How do you put risk management methods into action?
The following measures must be taken to implement and manage risks:
Prioritize.Obtain insurance.Reduce Your LiabilityEstablish a Quality Assurance Program.At High Risk, Limit Customer Control ExpansionForm a Risk Management Group.What does risk assessment entail?The overall process or strategy of identifying hazards and risk variables that have the potential to cause harm is referred to as risk assessment (hazard identification).
Analyze and evaluate the threat's related danger (risk analysis, and risk evaluation).
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Lush Cosmetics is a fast-growing maker of shampoos, lotions, and bath products. A
guiding motto at the company is "We reserve the right to make mistakes." Founder and
CEO Mark Constantine is passionately devoted to change and encourages employees to
break boundaries, experiment, and take risks. The company kills off one-third of its
product line every year to offer new and offbeat products.
The following example is of cultural adaptability.
Cultural adaptation is the capacity to function, interact, and communicate effectively across a range of cultural contexts.
What is cultural adaptability?It is a necessary skill for today's workplaces. Your company can enhance cultural flexibility by ranking the adaptability of the contemporary culture.Cultural adaptability can take many different forms, such as acquiring the greetings of the new culture, its language and slang, its dress rules, and its methods for obtaining products and services.Our capacity for cultural adaptation enables us to navigate potential obstacles and get the greatest results. Individual teams can benefit from knowing how to adjust communication for cultural variations in a variety of professional contexts, so it's not just crucial for cross-cultural communication.The five traits that emphasize open communication, shared accountability, building leadership capacity, individual judgment, and constant reflection and learning are highlighted by the leadership theory for fostering an adaptive culture in leadership.Learn more about cultural adaptability here:
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Question 2 of 10
Which option is an example of income?
OA. The money you earn by working
B. Paying for a meal with friends
C. Paying for a concert ticket
D. The money you spend on rent
SUBMIT
Selling and shipping raw materials or products to other nations is called
O a. alien trading.
O b. importing.
O c. deficit trading.
O d. tariffing.
O e. exporting.
Answer:
exporting
Explanation:
export
verb
gerund or present participle: exporting
/ɪkˈspɔːt,ɛkˈspɔːt,ˈɛkspɔːt/
send (goods or services) to another country for sale.
"nearly all the bananas produced were exported to Britain"
Similar:
sell overseas/abroad
market overseas/abroad
send overseas/abroad
trade internationally
transport
Opposite:
import
spread or introduce (ideas and beliefs) to another country.
"the Greeks exported Hellenic culture around the Mediterranean basin"
Similar:
transmit
spread
disseminate
circulate
communicate
pass on
put about
convey
bruit about/abroad
COMPUTING
transfer (data) in a format that can be used by other programs.
"the information can be exported to a database"
Caitlin's lawyer suggests that she name a(n).
assets in the event of her death.
to receive her assets in the event of her death
Caitlin's lawyer suggests that she name someone, to receive her assets in the event of her death. Thus, option B is correct.
Who is a lawyer?A lawyer can be defined as a person who has gone to school to get a degree regarding the same and passed the bar exam. A lawyer helps the person in the matter which are related to the court
The lawyer recommended to Caitlin that in case she dies or in case of, she should name someone to whom the assets would be transferred after her death or demise. it can be transferred to a person, or organization for a charity fund. Therefore, option B is the correct option.
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Answer:
b
Explanation:
Most video games last for a few years. However, some games have been outstanding successes for nearly 30 years. This shows that these games have
A. a cost benefit advantage
B. corporate responsibility
C. good goals and objectives
D. a sustainable competitive advantage
29). According to early LMX theory, out-group members ______.
A). have more influence with leaders than in-group members
B). are typically poor performers in the work setting
C). are chosen on the basis of skills and developmental level
D). are less likely to develop high-quality relationships with leaders
Which is correct!
According to early LMX theory, the out-group members are less likely to develop high-quality relationships with leaders.
What is the Leader-member exchange theory?The theory takes still conceptualizes leadership as a process that is centered on the interactions between leaders and followers and makes the dyadic relationship between leaders and followers the focal point of the leadership process.
The theory does not focus on the specific characteristics of an effective organizational leader, it focuses on the nature and quality of the relationships between a leader and his or her individual subordinates. So, as the LMX theory is primarily concerned with how well leaders and followers work together.
However, according to early LMX theory, the out-group members are less likely to develop high-quality relationships with leaders. Therefore, the Option D is correct.
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How does the technology skill most directly support informative writing? a.) It enables you to convey your message clearly. b.) It assists you in identifying quality research sources. c.) It makes your writing more engaging. d.) It helps you tailor your message to your audience.
The way that the technology skill directly supports informative writing is b.) It assists you in identifying quality research sources.
How does technology help in writing?In this contemporary period, technology has allowed for human beings to be able to access more knowledge and information from wherever they are. This is especially thanks to internet technology.
Having knowledge of technology skill therefore helps a person to be able to better identify research sources and also to identify the quality resources to help their research and informative writing best.
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Explain the law of demand to a recent purchase that you have made. Analyze a recent price change of a product that you have experienced and determine whether it was a supply or demand factor that impacted the price change. Explain your reasoning.
Answer: The cost of milk.
Explanation:
I can remember as a child the cost if milk being a little over a dollar. Now, the price of milk has inflated to after five(5) dollars... However, the demand for milk is ever increasing. Consumers will still buy the milk because it may be essential to their every day daily lives. Regardless of the price the demand for milk is a key factor to the supply, or lack there of. The demand assists in the inflation because consumers have the need. The supplier can attach whatever monetary value to it, also long as there is always a willing and able consumer to pay.
After reading Chapter 3 and the opening case study ATTACHED HERE (SEE BELOW), recommend a perspective a multinational corporation could use to make sense of the political situation in China, especially during the Covid-19 pandemic outbreak. How would you advise a potential foreign corporation to manage the intricacies (complexities and risks) of China’s political-legal environment? Remember that a foreign corporation is the one investing, outsourcing or doing businesss with China.
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Please think about and answer the following questions. Sales forecasts are important because knowing how many people you will serve is important. What are three specific problems that will occur when managers consistently underestimate the number of guests they will serve on a given day? What are three specific difficulties that will likely result if managers consistently overestimate the number they will serve?
The 4 specific difficulties that will likely result if managers consistently overestimate the number they will serve includes:
companies labor cost will go upcompany will lose money on the business because they will continue paying the employees even if they are not making enough in guest salescompany could possibly lose money on food costs.What is a Sales forecasts?Basically, a forecast refers to the technique that uses historical data as inputs to make informed estimates that are predictive in determining the direction of future trend. A sales forecast are mostly used by selling organization.
This sales forecast is often an expression of expected sales revenue; it helps to estimates how much your company plans to sell within a certain time period such as quarter or year and the best sales forecasts will do this with a high degree of accuracy.
However, in the question context, some difficulties that will likely result if managers consistently overestimate the number they will serve includes the companies labor cost will go up, company will lose money on the business because they will continue paying the employees even if they are not making enough in guest sales and company could possibly lose money on food costs.
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Khalil is a network engineer for a bank with branches all over the world. Why would Khalil’s position be very important to his company? In your answer, explain what networking is and why careers in networking are also important in our larger society today
The position of Khalil as a network mastermind is veritably important for a bank because he'd handle installing, configuring, and supporting firewalls to insure network security.
What's networking? Networking is the sharing of information or services between people, businesses, or groups. It's also a way for individualities to grow their connections for their job or business. As a result, connections or a network can be erected and useful for individualities in their professional or particular lives. What's the benefits of networking? Your network can be an excellent source of new perspectives and ideas to help you in your part. Swapping information on challenges, gests and pretensions is a crucial benefit of networking because it allows you to gain new perceptivity that you may not have else allowed of.Learn more about networking here:
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As Laura checks items off her meeting agenda and various individuals provide input and insight, she beams at her team. She is so proud of the work they do at her clinic every day. They have always been a very high-performing team, and for that, she has always been thankful.
Select the statement that is true about high-performing teams.
a.)
Team members have clearly defined roles, which lead to accountability and empowerment.
b.)
The strength of the plan is more important than the strength of the team.
c.)
Open communication is unnecessary, as all team members have their own jobs to do.
d.)
Emphasis is placed on past accomplishments to demonstrate a track record of achievement.
The true statement about high-performing teams is a) Team members have clearly defined roles, which lead to accountability and empowerment.
What is a high-performing team?A high-performing team is a work team that has members with specialized expertise and complementary skills and consistently achieves business results.
Characteristics of a high-performing team include:
Shared goalsHighly focused on goalsOpen communicationClear expectationsHigh sense of accountabilitySurpass expectationsOutperform other teams.For a high-performing team, open communication is very essential, and they celebrate past achievements without over-emphasizing them, and the team members strengthen the team plan with their collaboration.
Thus, the true statement about high-performing teams is a) Team members have clearly defined roles, which lead to accountability and empowerment.
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A bilateral contract is one that
A bilateral contract is one that will see both parties making promises to each other that they must fulfill.
What is a bilateral contract?A bilateral contract is one where both parties to the contract will make an agreement that will see both of them promising to carry out certain responsibilities to each other.
This is the most popular type of contract in human society as it involves both parties benefiting from the contract.
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elasticity is a useful making decision tool used by company management in running their operations .john is currently selling peanut butter for zmw 15.00per bottle and demand at this price is 120bottlesper month .he is planning to reduce the current price by 3.00per bottle and expects that demand will increase by 30%per month .using the mid point method and assuming that projections will be achieved in full ,advise john whether he should proceed with the price reduction decision
If John's projections is achieved in full, I would advise John to proceed with the price reduction.
Should John reduce his price?Price elasticity of demand measures how quantity demanded changes when there is a change in the price of a good.
Price elasticity of demand = midpoint change in quantity demanded / midpoint change in price
Midpoint change in quantity demanded = change in quantity demanded / average of both demands
Change in quantity demanded when price is decreased : 1.30 x 120 = 156
change in quantity demanded = 156 - 120 = 36
average of both demands = (156 + 120) / 2 = 138
Midpoint change in quantity demanded = 36 / 138 = 0.261
Midpoint change in price = change in price / average of both price
Change in price = 3
Average of the price = (15 + 12) / 2 = 13.5
midpoint change in price = 3 / 13.5 = 0.222
Midpoint change in quantity demanded = 0.261 / 0.222 = 1.17
If the absolute value of elasticity is greater than 1, it means that demand is elastic. If demand is elastic, if price is decreased, the percentage increase in the quantity demanded would be greater than the percentage change in price. This would lead to an increase in profit.
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So, if a country had relatively high
levels of government involvement
and regulation, which economy types might this indicate?
Country had relatively high levels of government involvement and regulation is known as Socialist economy.
Socialist economy is an economy where the factors of production are state owned. It is totally opposite from capitalist economy.
Under this, private companies are not allowed to freely manufacture the goods and services . There are many restrictions which were imposed by government. It is manufactured according to the needs of society and the norms of state or planning authorities.
Socialist economy is also known as Command economy.
Countries like North Korea follows socialist economy.
There is no absolute choice of freedom given to consumers also as they cannot freely demand product of their choice but have to choose product from the state manufactures.
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A task is something that needs to be accomplished in order to move into the nex
stage.
True
False
Unit 2 Assignment: Demand for lift tickets at Aspen is given by P = 90 - Q supply is given by Q = 2P
1. Find the equilibrium price and quantity, consumer surplus and producer surplus.
2. To encourage tourism in Aspen, Pitkin County imposes a price ceiling of $10. Suppose there is no black market. Does this cause a shortage or surplus? What size?
3. Does the price ceiling cause producer surplus to increase or decrease?
4.Are all consumers satisfied with this lower price?
The questions solution is given as
Q=60S=0TS=$4762.5TS= $3450This is further explained below.
To encourage tourism in Aspen, Pitkin County imposes a price ceiling of $10. Suppose there is no black market. Does this cause a shortage or surplus? What size??Generally, the equation for equilibrium is mathematically given as
Qd=Qs
Therefore
P=90-2P
Q*=2*30
Q=60
b)
Price floor=$10
Quantity demanded
DQ= 30-10
DQ=20
Quantity Supplied
QS= 2*10
QS=20
Surplus
S=20-20
S=0
c) Generally, the equation for Consumer surplus is mathematically given as
CS=0.5(120-45)(75)
CS=$2812.5
Producer surplus
PS=(45-37.5)(75)+0.5(75)(37.5)
PS=$1968.75
Deadweight loss
DL=0.5(45-37.5)(80-75)
DL=$18.75
Total surplus
TS= PS+CS-DWL
TS=$4762.5
d) Generally, the equation for Consumer surplus is mathematically given as
CS=(70-25)*50+0.5(120-70)*50
CS=$3500
PS=0.5(50)(25)
PS=$625
DL=0.5(80-50)(70-25)
DL=$675
TS= $3450
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17). According to path-goal theory, leaders adjust their behaviors based on ______.
A). follower characteristics and work settings
B). follower characteristics and productivity
C). follower characteristics and leader skills
D). follower characteristics and team climate
This is correct!
Leaders adjust their behavior based on A. Follower characteristics and work settings.
What is Path-Goal Theory?Path-Goal theory is the theory that states that the behaviors and actions of the leader/ Manager may change the behavior of the workers, if the leader/ Manager motivates the employees or workers by providing them motivation and better remuneration, they will work at a faster pace and their productivity will be increased efficiently.
The leaders following the path goal theory tend to adjust their behavior according to the work settings of the workers and the followers characteristics that is how they work and their views about work. Therefore it is important that the leader adjust their behavior according to the motivation required to the workers.
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how to use a washing machine?www.nytimes.co
Answer:
Hope this helps :)
Washing Machine with a door that opens up.
1. Place your clothes into the machine.
2. Put in landry detergent.
3. Choose a cycle.
4. Close door and start "Go."
5. Take your clothes out.
Washing Machine with a door that opens outwards.
1. Place clothes into the machine.
2. Put in the exact and correct amount of laundry detergent.
3. Choose a temperature.
4. Choose the correct cycle.
5. Close door and start "Go."
6. Take your clothes out.
Mark starts a new job in another state and decides to buy a house rather than renting one.
Which of the following is true if Mark buys the house?
He will have to pay a fix monthly cost to his landlord is true if Mark buys the house. Hence, option D is correct. For options the picture is attached.
What is fixed monthly cost?Fixed costs, also known as overhead costs, are expenses that don't move from month to month, regardless of the company's sales or production level. They must consequently be covered by the company, at least initially, as fixed costs.
A person's final production cost will be less after deducting the variable costs multiplied by the quantity you produced.
Thus, option D is correct.
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1. McIntyre Company adheres to a policy of depositing all cash receipts in a bank account and making all payments by check. The cash account as of December 31 has a credit balance of $1,850, and there is no undeposited cash on hand. (a) Assuming no errors occurred during journalizing or posting, what caused this unusual balance? (b) Is the $1,850 credit balance in the cash account an asset, a liability, stockholders’ equity, a revenue, or an expense?
2. If the two totals of a trial balance are equal, does it mean that there are no errors in the accounting records? Explain
1a) Assuming no errors occurred during journalizing or posting, the cause of the unusual balance is an overdraft.
1b) The $1,850 credit balance in the cash account is a liability.
2. If the two totals of a trial balance are equal, it does not mean there are no errors in the accounting records.
What errors do not affect the trial balance?Some accounting errors do not make the trial balance to be unequal.
Some of the errors that will not affect the trial balance include:
Errors Of PrincipleErrors of OmissionIncorrect reportingTransposition ErrorCompensating ErrorsErrors Of CommissionReversal Of Entry ErrorLate payment charges.When anyone of the above errors occurs, the trial balance will still be in balance, and the two totals will be equal.
Data and Calculations:Cash account balance on December 31 = $1,850 Credit
Thus, when the Cash account has a credit balance, it signifies an overdraft, especially when the balance is significant.
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Pattison family considers the opportunity to finance the purchase of their first $500 thousand worth
single-family house in Santa Rosa, CA. To qualify for a 30-year fixed-rate mortgage, the down
payment should be 10% of the purchase price. To accumulate money for the down payment, Mr.
Pattison plans to invest $35,000 in the stock portfolio that earns 7.65% per annum. Assume that Mr.
Pattison reinvests annual gains at the same interest rate as the initial investment. How much money
will Mr. Pattison accumulate with this investment within five years? Is the initial investment
amount sufficient to accumulate in five years the required down payment under the above
mortgage? Round your answers to the nearest dollar. Show your work.
A dividend is a distribution of income with the aid of an organization to its shareholders. while a business enterprise earns an income or surplus, it could pay a percentage of the income as a dividend to shareholders. Any quantity now not dispensed is taken to be re-invested within the business.
Dividends are commonly disbursed to shareholders quarterly, even though some agencies may additionally pay dividends semi-yearly. bills may be received as cash or as reinvestment into shares of company stock. dividends can sign that an employer has strong coins waft and is producing earnings, they also can provide traders with routine revenue. Dividend payouts can also assist provide perception right into an employer's intrinsic cost. many countries also provide preferential tax treatment to dividends, wherein they are dealt with as tax-free earnings.
The down payment = $500,000 × 10%
= $50,000
Dividends on shares = $35,000 × 7.65%
= $2,677.5 or $2,678
If he puts in an annual dividend.
FV = $ 2,678(1+7.65%)5 = $3,871.51 or $3,872
Then he does not have enough money for the initial payment:
FV = $35000(1+0.0765)5
= $ 50598.57 or $ 50599
If he invests 35,000 then he will get a down payment on the initial payment.
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This is a representation of the orgaization’s pay level policy, relative to what competitors pay for similar jobs:
A. Pay-policy line
B. Efficiency wage
C. Market medium point
D. Benchmark conversion graph
This is a representation of the organization's pay level policy, relative to what competitors pay for similar jobs is A. Pay-policy line.
What is Pay-policy line?The term known as Pay policy lines are known to be factors that are useful when trying to depict survey data and comparing them with the internal pay structure.
Note that from the use of the pay policy line, organizations tend to set up the minimum as well as the maximum pay levels, the assocaition between pay grades, and the scope of a pay grade.
Therefore, This is a representation of the organization's pay level policy, relative to what competitors pay for similar jobs is A. Pay-policy line.
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Question 5 of 10 Examine the supply and demand schedules for laptops. How much would a seller charge if he or she wanted to sell laptops for their equilibrium price? Price of laptops Quantity supplied O O O O A. $300 $400 $500 $600 $700 $300 $400 $500 $600 $700 $500 B. $700 C. $400 Price of laptops D. $300 100 300 500 700 900 Quantity demanded 450 300 200 150 125 SUBMIT it's C
Based on the supply and demand schedules for the laptops, if the seller wanted to sell their laptop at the equilibrium price, the price they would sell at is $400.
What price is the equilibrium price?The price that the seller wants to charge for their laptops is the equilibrium price. The equilibrium price in a market is the price at which the suppliers supply the same amount of goods that the consumers in the market want for that same price.
In the market for laptops, the equilibrium price would be $400. This is because at this price, the quantity supplied for laptops is 300 and the quantity demanded is 300 as well.
The seller would therefore sell at the price of $400 if they would like to sell at the equilibrium price.
In conclusion, the equilibrium price is $400.
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If South Africa were to trade diamonds to the United States in exchange for heavy machinery, these countries would execute a(n)
O a. strategic transaction.
O b. countertrade.
O c. auction agreement.
O d. free-trade agreement.
O e. licensing agreement.
Icon Key
If South Africa were to trade diamonds to the United States in exchange for heavy machinery, these countries would execute a countertrade.
What Is Countertrade?A reciprocal kind of international trade known as countertrade involves exchanging one good or service for another in place of hard currency. In underdeveloped nations with few credit or foreign exchange options, this kind of international trade is more prevalent.
What are the advantages of countertrade?The advantage of countertrade
enables access into challenging markets. boosts business sales in areas where you might not otherwise have customers. overcomes credit challenges enables the disposal of deteriorating or extra products.
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