In the following question, option A). A weakness of the Bretton Woods system was that it could not work if "the U.S. dollar was under speculative attack. "
The Bretton Woods system was created in 1944 to address the problems that arose as a result of the Great Depression, which was brought on by unstable exchange rates between currencies.
This system worked well for several decades, but there were some weaknesses that were exposed over time. One of the major weaknesses was that the Bretton Woods system could not work if the U.S. dollar was under speculative attack.
This is because if the U.S. dollar was under attack, it would be difficult for other countries to maintain their exchange rates. As a result, countries would be forced to devalue their currencies, which could lead to inflation and other economic problems.
Other weaknesses of the Bretton Woods system included the fact that it was difficult to maintain fixed exchange rates over time, and that it was vulnerable to inflationary pressures.
In addition, the system was criticized for being too rigid, and for not allowing countries to pursue their own economic policies. These weaknesses eventually led to the collapse of the Bretton Woods system in the 1970s.
Therfore the correct answer is "option A)" the U.S. dollar was under speculative attack.
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A farmer sells a bushel of corn to the supermarket for $12. The supermarket then sells
the corn to customers for $25. What is the total contribution to GDP? (hint: be sure to
review intermediate vs. Final goods before answering this question).
We must take into account whether the maize is an intermediate or final good in order to calculate the sale's contribution to GDP.
A good used as an input to create another good is known as an intermediary good. Because it will be processed and sold to customers as a finished commodity in this instance, the maize that was sold to the store is an intermediate good.
Contrarily, a final good is something that is sold to its final consumer and isn't employed as a raw material to create another good.
Hence, the value of the maize supplied to customers should be the only component of GDP.
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money market security values are less sensitive to interest rate movements than bonds. a. true b. false
Answer:
Money market security values are less sensitive to interest rate movements than bonds. This statement is true.
Explanation:
Why are money market security values less sensitive to interest rate movements than bonds?
Money market securities are short-term instruments with maturities of less than a year, such as Treasury bills, commercial paper, and certificates of deposit, which are normally thought of as low-risk, low-reward investments. Because the maturities of these securities are so short, their values are less affected by interest rate movements than bonds, which typically have maturities ranging from five to thirty years. Bonds with a longer time to maturity are more sensitive to interest rate changes, whereas money market securities with a shorter time to maturity are less sensitive to interest rate movements.Conclusion: The statement "Money market security values are less sensitive to interest rate movements than bonds" is true.
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record the sale of 125 units with a list price of $720, a 30% trade discount (if applicable), with terms of 2/10, n/30 under the gross method.
Terms of 2/10, n/30 is a sales discount of 2% when paid within 10 days
What is Trade Discount?
A trade discount is given to reduce the cost of merchandise when the seller buys goods from the manufacturer. Sales discounts are discounts that are provided to the buyers on the original price of goods or services. The purpose of providing these discounts is to motivate customers to make purchases and maintain the buyer's loyalty. There are two types of sales discounts, one is a cash discount and the other is a trade discount. The cash discount is given to encourage buyers to pay their bills quickly.
To record the sale of 125 units with a list price of $720, a 30% trade discount (if applicable), with terms of 2/10, n/30 under the gross method, the following journal entry should be made:
Accounts Debit Credit Accounts receivable 75,600, Sales 75,600 [The sales amount is calculated by multiplying the number of units sold (125) with the net price (504).]
Calculation: List price for 125 units = 125 × $720 = $90,000
Trade discount at 30% = $90,000 × 30/100 = $27,000
Net price = $90,000 – $27,000 = $63,000
Net price per unit = $63,000 / 125 units = $504.
Terms of 2/10, n/30 is a sales discount of 2% when paid within 10 days; the gross method, on the other hand, recognizes the revenue at the full selling price without any reductions. Therefore, the full amount of the revenue is recorded in the sales account, and the sales discounts are recorded in a separate account. Since this question is asking for the gross method, the discount will not be deducted.
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according to research, employees with transformational leaders tend to have higher levels of which of the following?
According to research, employees with transformational leaders tend to have higher levels of job satisfaction, organizational commitment, and productivity.
What is "transformational leadership"? Transformational leadership is a leadership approach that involves inspiring and motivating workers to achieve organizational objectives by involving them in the decision-making process and emphasizing individual and team development. The goal of transformational leadership is to create a constructive work atmosphere that inspires workers to be creative and effective in achieving organizational objectives.
What are the characteristics of transformational leaders? Transformational leaders demonstrate the following characteristics:
Visionary: They are able to paint a vivid picture of the future that inspires and encourages workers to strive to attain it. Charismatic: They have a magnetic personality that enables them to influence and motivate employees. Individualized consideration: They show consideration for each employee, taking into account their skills, needs, and aspirations.Intellectual stimulation: They challenge workers to think outside the box, question the status quo, and be innovative. Inspirational motivation: They set high standards and motivate employees to achieve them.What are the benefits of transformational leadership for employees? Transformational leadership has several benefits for employees, which include:
Higher job satisfaction: transformational leaders inspire workers to be creative and productive, which leads to greater job satisfaction. Organizational commitment: Employees with transformational leaders are more committed to the organization because they feel valued and part of the decision-making process.Higher productivity: transformational leaders encourage workers to be productive and innovative, which leads to higher productivity and better organizational results.To learn more about “transformational leadership” refer to the https://brainly.com/question/14531259
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Which of the following cannot be done through a mobile banking app?Making a depositWithdrawing cashChecking an account balanceTransferring money
Answer:
Withdrawing cash cannot be done from online banking app as you cannot have the money in your hand as it is online.
the decision about where to use control charts should focus on aspects of the process that . multiple choice question. have a tendency to go out of control, and affect product or service characteristics have the lowest cost of inspection, and require the least time to collect samples are visible to the customer, and can be automated
The decision about where to use control charts should focus on aspects of the process that have a tendency to go out of control, and affect product or service characteristics. (The correct answer is A).
A control chart is a graphical representation of the process variation. Control charts are used to monitor whether a process is stable or unstable, and to identify when it is necessary to take corrective action. There are several reasons why an organization might use a control chart. For example, it can be used to monitor a process's performance over time, to identify trends or patterns in data, and to detect when a process is going out of control, therefore the correct answer is A.
It is important to use control charts in areas that have a tendency to go out of control, and that can affect product or service characteristics. For example, if a process involves the manufacturing of a product, it is important to use a control chart to monitor the process to ensure that the product is being produced consistently and to identify any problems that may be occurring. If a process involves providing a service, it is important to use a control chart to monitor the process to ensure that the service is being provided consistently and to identify any problems that may be occurring. In conclusion, the decision about where to use control charts should focus on aspects of the process that have a tendency to go out of control and affect product or service characteristics.
By doing so, organizations can ensure that they are using control charts effectively and efficiently to monitor their processes and to identify any problems that may be occurring.
Your question is incomplete as it misses the option letter, the complete question is:
The decision about where to use control charts should focus on aspects of the process that...
multiple choice:
A. have a tendency to go out of control, and affect product or service characteristics
B. have the lowest cost of inspection, and require the least time to collect samples
C. are visible to the customer, and can be automated
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When faced with financial distress; managers of firms acting on behalf of their shareholders' interests will:
A. favor issuing large quantity of low quality debt to low quantity of high quality debt
B. favor paying high dividends to the shareholders
C. delay the onset of bankruptcy as long as they can
D. All of the above
All of the above answers are correct.
When faced with financial distress, managers of firms acting on behalf of their shareholders' interests will favor issuing large quantity of low quality debt to low quantity of high quality debt in order to reduce the overall cost of debt. In addition, they will favor paying high dividends to the shareholders in order to provide an immediate reward for their investment.
Finally, they will delay the onset of bankruptcy as long as they can in order to preserve the value of the firm and allow time to explore other options to help the firm recover. All of these options are intended to reduce the impact of financial distress and help the firm recover.
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you are depositing $3,000 in a retirement account today and expect to earn an average return of 7.5 percent on this money. how much additional income will you earn if you leave the money invested for 45 years instead of just 40 years? group of answer choices $18,908.19 $19,590.93 $23,581.80 $22,441.56 $25,723.08
The amount of additional income earned if $3,000 is deposited in a retirement account today and an average return of 7.5 percent is earned on this money, leaving the money invested for 45 years instead of 40 years is $23,581.79.
How to calculate the additional income?Step 1: To calculate the future value of $3,000, use the formula given below:
FV = PV(1 + r)^n
where, FV is the future value of the investment, PV is the present value of the investment, r is the interest rate per year, and n is the number of years. So, putting the values in the formula:
[tex]FV = $3,000(1 + 0.075)^45 \\= $77,714.51[/tex]
[tex]FV = $3,000(1 + 0.075)^40 \\= $54,132.72[/tex]
Step 2: To calculate the amount of additional income, use the formula given below:
Additional income = Future value (45 years) - Future value (40 years)
So, putting the values in the formula:
[tex]Additional income = $77,714.51 - $54,132.72\\=$23,581.79[/tex]
Therefore, the amount of additional income earned is $23,581.79.
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Question 1
Which of the following would most likely result in higher income?
1. Ability to telecommute
2. Working part-time
3. Lower productivity
4. Unique, high-level job skills
Option (d), High-level, one-of-a-kind job skills would almost certainly increase income.
Which expertise is necessary for employees?Almost all jobs necessitate critical thinking. Employees must be able to observe and draw conclusions from any kind of data, challenge hypotheses, and analyze any kind of data. Critical thinking is not only a skill but also a habit that aids in problem solving.
What are special skills?Explicit capacities or gifts that make you a certified contender for a task are known as specific abilities. They may be directly related to the position, such as technical or practical skills, or they may have a more general purpose that makes them useful in a variety of settings.
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Manufacturers would prefer to produce in a country with a trade because it signals a greater opportunity to export products to more markets. discrepancy surplus bonus deficit balance
Manufacturers would prefer to produce in a country with a trade surplus because it signals a greater opportunity to export products to more markets.
A trade surplus refers to a situation in which a country exports more goods and services than it imports, resulting in a net inflow of foreign currency. This provides a signal to manufacturers that there is a high demand for their products in foreign markets and that they have the potential to increase their exports, hence why they would prefer to produce in a country with a trade surplus.
Other answer choices and their meanings:
Discrepancy: A lack of compatibility or similarity between two or more facts, figures, or statistics.
Surplus: An excess of production or supply over demand.
Bonus: An extra sum of money given as a reward, typically to an employee.
Deficit: The amount by which something, especially a sum of money, is too small.
Balance: A situation in which different elements are equal or in the correct proportions.
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Which was the a major result of the Crusades?
1. The Development of new economic interests for Europe
2. The permanent dominance of Christianity in the Middle East
3. A decentralization of the power of the Roman Catholic Church
4. A lessening in the power and influence of the European middle class
The Crusades were a series of religious wars fought between the Christian and Muslim kingdoms.
One of the main results of the Crusades was the development of new economic interests for Europe. Therefore, option 1, "the development of new economic interests for Europe," is the correct answer.
What were the Crusades?The Crusades were a series of military expeditions organized by the Catholic Church to recapture Jerusalem and other lands in the Holy Land from Muslim control, which was also known as the Holy War. The Crusades spanned from the eleventh century to the thirteenth century AD.
The Crusaders, who were Christian knights and soldiers, fought against the Muslim forces that ruled the Middle East. They fought for several reasons, including religious zeal, political reasons, and economic interests.
In addition to its religious significance, the Crusades have been viewed as a significant influence on Europe's political, economic, and social developments.
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You've been asked to identify potential data analytical test by examining your clients master file record layouts. Which of the following would you most likely analyze based on the information in the master file?
A. Accounts payable activities
B. Employee pay rate changes
C. Production run variances
D. Increased to the customer credit limit
The correct answer is Accounts payable activities .
By examining the master file record layouts, you can analyze the accounts payable activities to identify any potential data analytical tests.
Master file is a comprehensive document or electronic database containing all of a company's records. This file is used to maintain and compile records for very transaction that the business completes.
Therefore, when examining the master file, you are most likely to analyze the Accounts payable activities.
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Economic costs are defined as the sum of explicit and implicit costs. (true or false)
It is absolutely incorrect, and highly irrelevant, to mention that the economic costs are the summation of explicit and implicit costs. Therefore, the said statement holds false.
The economic costs of a firm are heavily defined as the amalgamation of losses of goods owing to the value attached to them. It is also noteworthy to mention that the economic costs define the difference between the explicit as well as the implicit costs incurred by a firm in the economy during a particular period of time.
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your calculations reveal that a proposed it investment will yield a savings in your department of $45,000 per year for the five year planning period. what is the net present value of that savings, assuming a discount rate of 8%?
The net present value of the savings is $180,723.
This is calculated by taking the future value of the savings, discounted by 8% for 5 years, and subtracting the present value of the investment.
To calculate the future value of the savings, multiply $45,000 by the compound interest formula: FV = PV x (1 + i)^n, where PV is the present value, i is the interest rate, and n is the number of years.
This yields a future value of $259,097. To calculate the present value of the investment, multiply the investment cost by the same formula: PV = FV / (1 + i)^n.
This yields a present value of $78,374. Subtracting the present value from the future value yields a net present value of $180,723.
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Passive Sentence: The report, Your prompt delivery, poor receipts, The recommendations, The analystsActive: I will finish, Please send me, Make sure, You should, He readOne way to immediately improve your writing is to use active rather than passive voice in most sentences.Active voice and passive voice contain the following grammatical patterns:Active voice: Doer as Subject + Verb + ObjectPassive voice: Object as Subject + Be Verb + Verb + Doer (Optional)Using active voice in writing includes many benefits. The doer-action-object pattern allows for faster processing because most people's natural thinking occurs in this way. It also emphasizes the business orientation of action. Perhaps most important, it specifies the doer. Since business activities depend on accountability and coordination, knowing the identity of the doer of an action is usually important. In most cases, active voice also makes your sentences more concise.Generally, active sentences are most effective in business writing. Passive sentences, however, are more effective when you want to avoid blaming or sounding bossy.In this exercise, you will identify whether sentences are in active or passive form.
Passive sentences: The report, poor receipts, the recommendations, the analysts. Active sentences: I will finish, please send me, make sure, you should, he read. Using active voice in writing includes many benefits.
The doer-action-object pattern allows for faster processing because most people's natural thinking occurs in this way. It also emphasizes the business orientation of action. Perhaps most important, it specifies the doer.
Since business activities depend on accountability and coordination, knowing the identity of the doer of an action is usually important. In most cases, active voice also makes your sentences more concise.
Generally, active sentences are most effective in business writing. Passive sentences, however, are more effective when you want to avoid blaming or sounding bossy.
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place the following steps for assigning costs to units of product using process costing in order. instructions choice 1 of 5. identify the total costs to be accounted for. toggle button identify the total costs to be accounted for. choice 2 of 5. assign costs to batches of work toggle button assign costs to batches of work choice 3 of 5. compute the equivalent units of production. toggle button compute the equivalent units of production. choice 4 of 5. record the physical flow of resources. toggle button record the physical flow of resources. choice 5 of 5. compute costs per equivalent unit. toggle button compute costs per equivalent unit.
Process costing is a method that is utilized by companies to determine the manufacturing costs of the products.
The following are the steps to be followed to assign costs to units of product using process costing. Identify the total costs to be accounted for. Record the physical flow of resources. Compute the equivalent units of production. Assign costs to batches of work. Compute the costs per equivalent unit. Here is an explanation of the above steps in detail:1. Identify the total costs to be accounted for. The first step in the process costing method is to identify the total cost to be accounted for. This involves the identification of all the costs incurred during the production process. The costs may include direct materials, direct labor, and manufacturing overhead.2. Record the physical flow of resources. The second step is to record the physical flow of resources. This involves tracking the movement of materials and labor throughout the production process. The records should show when materials were received, when they were used, and when they were completed.3. Compute the equivalent units of production. The third step is to compute the equivalent units of production. This involves determining the number of units produced and the degree of completion of the production process.4. Assign costs to batches of work. The fourth step is to assign costs to batches of work. This involves allocating the total costs of production to the different batches of products.5. Compute the costs per equivalent unit. The final step is to compute the costs per equivalent unit. This involves dividing the total cost of production by the total number of equivalent units produced. This gives the cost per unit of production.
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Which of the following would be classified as an autonomous change to planned aggregate expenditure?
a. Current income in an economy increases
b. Domestic goods become more expensive relative to foreign goods
c. Congress decides to undertake an infrastructure repair project
d. Interest rates in an economy decrease
The correct answer is C, Congress decides to undertake an infrastructure repair project. Autonomous changes to planned aggregate expenditure are changes in spending that occur regardless of the level of income.
This means that the change in spending is not caused by a change in income or production. An infrastructure repair project is an example of an autonomous change because it is a decision made by Congress that would cause an increase in planned aggregate expenditure, regardless of changes in income or production.
In contrast, option A, current income in an economy increases, is an example of an induced change in planned aggregate expenditure. An increase in current income will cause an increase in planned aggregate expenditure, so it is an induced change.
Option B, domestic goods become more expensive relative to foreign goods, is also an induced change in planned aggregate expenditure. If domestic goods become more expensive relative to foreign goods, households will spend more on domestic goods, resulting in an increase in planned aggregate expenditure.
Finally, option D, interest rates in an economy decrease, is also an induced change in planned aggregate expenditure. A decrease in interest rates will make it cheaper for households and businesses to borrow, leading to an increase in planned aggregate expenditure.
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. to choose the best alternative among the given alternatives in the annual cash flow analysis method, it is necessary to compute the euaw for each alternative over a period of one cycle only. true /false
To choose the best alternative among the given alternatives in the annual cash flow analysis method, it is necessary to compute the EUAW for each alternative over a period of one cycle only. This statement is false.
Annual cash flow analysis is a process of analyzing an investment by considering the annual cash flows generated by the investment. It compares the total present value of the investment's expected annual cash inflows to the total present value of its expected annual cash outflows. This approach is used to determine whether or not an investment is worthwhile. In other words, the annual cash flow analysis must consider all of the investment's annual cash inflows and outflows over its entire lifespan.
The equivalent uniform annual worth (EUAW) is the total annual worth of an investment spread out over the same number of years as the lifespan of the investment. In other words, it is the uniform annual amount that represents the same net present value as the investment's total cash flows.
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share a specific example of when you have been most satisfied with your work? what was most satisfying about that?
Most of us feel comfort and satisfied when our hard work and effort is recognized and appreciated. Similarly, I also felt most satisfied with my work when I was given positive feedback by my supervisor.
A specific example of when I have been most satisfied with my work:
During my internship, I was assigned a project that required me to conduct market research for a company. The project was challenging, and I put in a lot of effort and dedication to ensure that it was completed on time and to the best of my ability. After submitting the project, I received feedback from my supervisor that not only met, but exceeded my expectations. The most satisfying aspect of the experience was knowing that my hard work had paid off and was appreciated by my supervisor. Additionally, this experience taught me the importance of dedication, hard work and commitment. It also helped me in developing an interest in marketing and motivated me to learn more about the subject.
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ginormous oil entered into an agreement to purchase all of the outstanding shares of slick company for $60 per share. the number of outstanding shares at the time of the announcement was 82 million. the book value of liabilities on the balance sheet of slick co. was $1.46 billion. what was the cost of this acquisition to the shareholders of ginormous oil?
The cost of acquisition to the shareholders of Ginormous Oil was $3.46 billion. The cost of acquisition to the shareholders of Ginormous Oil is the total cost of acquisition minus the net liabilities of Slick Co.
The cost of acquisition to the shareholders of Ginormous Oil can be calculated by the following steps:
Step 1: Calculate the total cost of acquisition.
The total cost of acquisition is given by the product of the number of outstanding shares and the price per share:
Total cost of acquisition = Number of outstanding shares × Price per share
The number of outstanding shares is given as 82 million and the price per share is $60.
Thus, the total cost of acquisition is: Total cost of acquisition = 82 million × $60 = $4.92 billion
Step 2: Determine the net liabilities of Slick Co.
The net liabilities of Slick Co. can be obtained by subtracting the book value of liabilities from the book value of assets on its balance sheet. Net liabilities = Book value of assets - Book value of liabilities
The book value of liabilities is given as $1.46 billion. We do not have the book value of assets, but we do not need it since we are only interested in the net liabilities. Therefore, the net liabilities of Slick Co. are: $1.46 billion.
Step 3: Calculate the cost of acquisition to the shareholders of Ginormous Oil
The cost of acquisition to the shareholders of Ginormous Oil is the total cost of acquisition minus the net liabilities of Slick Co.
Cost of acquisition to shareholders = Total cost of acquisition - Net liabilities of Slick Co.
Cost of acquisition to shareholders = $4.92 billion - $1.46 billion= $3.46 billion
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The COSO ERM framework encourages a review of risks as they apply to achieving firms' objectives. Which of the following is not one of the listed categories of objectives to be considered? Multiple Choice
- Strategic
- Environment
- Operations
- Compliance
In the following question, option 2). The COSO ERM framework encourages a review of risks as they apply to achieving firms' objectives. The category of objectives that are not listed to be considered is "Environment."
What is the COSO ERM framework?ERM stands for Enterprise Risk Management. The COSO ERM framework provides a framework for identifying, analyzing, and responding to enterprise-wide risks to an organization. It's a popular risk management framework used by businesses and nonprofit organizations all over the world to help them manage and mitigate risks to their operations, strategic objectives, and stakeholder value.
Why do companies need ERM? ERM is important for businesses for several reasons:
1. Helps in identifying potential risks and managing them accordingly.
2. Assists organizations in developing and implementing risk mitigation measures to lessen the possibility of material risk exposure.
3. Aids in increasing an organization's operational efficiency and performance by identifying and addressing operational risk factors. The objectives that are to be considered under the COSO ERM framework are:
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marketers can classify business-to-business buying situations into three general categories: multiple choice new buy, repeat purchase, and modified purchase. new buy, straight rebuy, and modified rebuy.
Marketers can classify business-to-business buying situations into three general categories: new buy, straight rebuy, and modified rebuy. Option B is the correct answer.
B2B (business-to-business) buying refers to companies that buy goods or services from other companies. Marketers can classify business-to-business buying situations into three general categories:
New buy: When a business has never purchased a product before, it is a new buy. In a new buy scenario, the organization must conduct a thorough investigation into possible suppliers, seek out recommendations from others in the sector, and research how the product can improve its operations. Straight rebuy: When a company repeatedly purchases the same products or services, it is known as a straight rebuy. Modified rebuy: When a company modifies its existing procurement procedures or purchasing requirements, it is referred to as a modified rebuy. A modified rebuy necessitates the company's attention, but not nearly as much as a new buy situation.You can learn more about B2B (business-to-business) buying at
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Ace Hardware has a rewards program for loyal customers. After a certain number of purchases, Ace sends a customer a gift card to be used within a two-month period. This example shows that _______.a. CRM thanks all customers for their business with a rewards cardb. consumers are loyal to companies that have rewarded loyalty with a gift cardc. consumers are only loyal to companies that have low pricesd. CRM techniques focus on rewarding all customers
The correct option is option b. Consumers are loyal to companies that have rewarded loyalty with a gift card.
What is CRM? Customer relationship management (CRM) is an approach that businesses use to manage their interactions with clients or customers. A rewards program for loyal customers is one of the ways that companies can use CRM techniques to thank all customers for their business with a rewards card. Additionally, it is a way to promote customer loyalty.
CRM techniques concentrate on rewarding loyal customers. Companies do not focus on rewarding all customers. They focus on the customers who have proven to be loyal over time. For instance, Ace Hardware's reward program is only for loyal customers who have made several purchases from the store.
In conclusion, this example shows that consumers are loyal to companies that have rewarded loyalty with gift cards. By rewarding loyal customers, companies can promote customer loyalty and build strong relationships with their customers.
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What are the 5 steps of financial planning?
The five steps of financial planning are determining your current financial status, Developing financial goals, Developing financial strategies, Implementing financial strategies, and Monitoring or reviewing financial plans.
Financial planning is an important part of managing your money. There are five main steps to follow when creating a financial plan are,
Step 1: Determine your current financial status: In the first step of financial planning, one needs to determine their current financial status. In other words, it is a statement of an individual's personal and financial resources, liabilities, income and expenditure, and other financial commitments. Financial status should include all assets, income, and liabilities that an individual has.
Step 2: Develop financial goals: One needs to develop the financial goals that one wants to achieve. This goal can be in terms of savings, investment, and financial commitments. Goals can be short-term and long-term.
Step 3: Develop financial strategies: This helps individuals achieve their financial goals. One should consider all the financial options available to them and select the best one.
Step 4: Implement financial strategies: The fourth step in financial planning is to implement the selected financial strategies. An individual must select the best option from the financial strategies and start executing the plan.
Step 5: Monitor and review financial plans: The last step in financial planning is to monitor and review the financial plan. Financial planning is not a one-time process, and it needs to be reviewed regularly. It ensures that the financial plan is working in the right direction, and if not, corrective measures can be taken to rectify the problem.
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Comfort Company purchased 180 units of inventory on November 17, 2024. The units have a list price of $500 each, but Comfort was given a 25% trade discount. The terms of the sale were 2/10, n/30. Comfort uses a perpetual inventory system.
3. Prepare the journal entries to record the (a) purchase by Comfort on November 17 and payment on November 26, 2024, and (b) December 15, 2024 using the net method of accounting for purchase discounts.
Purchase journal entry: Inventory $67,500; Accounts payable $67,500; Payment journal entry: Accounts payable $66,150; Inventory $1,350. Journal entry for December 15: Accounts payable $66,150; Cash $66,150.
a) Journal entries to record the purchase by Comfort on November 17 and payment on November 26, 2024:
On November 17:
Inventory $67,500 ([$500 * 0.75] * 180 units)
Accounts payable $67,500
To record the purchase of 180 units of inventory on credit with a trade discount of 25%.
On November 26:
Accounts payable $67,500 x 0.98 = $66,150 ([$67,500 - ($67,500 * 0.02)] payment after discount)
Inventory $1,350 ($67,500 - $66,150)
To record the payment for the inventory on November 26, taking the discount for early payment.
b) Journal entry to record the December 15, 2024, using the net method of accounting for purchase discounts:
On December 15:
Accounts payable $67,500 x 0.98 = $66,150 ([$67,500 - ($67,500 * 0.02)] payment after discount)
Cash $66,150
To record the payment for the inventory on December 15, taking the discount for early payment using the net method.
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what is the disadvantage of slab-packed fresh produce? question 19 options: 1) its ap price is usually very high 2) the u.s. grade is very low 3) by the time you receive the merchandise, some of it may be damaged 4) fewer items will fit in case
The disadvantage of slab-packed fresh produce is that (C) by the time it reaches the merchandise, some of it may be damaged.
Slab-packing is a packaging method for fresh produce that involves placing items on a flat tray or slab and wrapping them in plastic or other materials. While this method can offer benefits in terms of presentation and space efficiency, it can also make the produce more vulnerable to damage during transport and handling, resulting in lower quality and increased waste. As such, it is important for producers and retailers to carefully consider the potential risks and costs associated with this method and to take steps to ensure safe and efficient handling and shipping.
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the emergency banking relief act closed all banks in order to stop the banking crisis that was occurring. the banking act of 1933 created the federal deposit insurance corporation to insure bank deposits.these new deal measures were designed to a. prevent bank failures. b. pump money into the economy. c. regulate the stock market. d. provide jobs to americans.
The Emergency Banking Relief Act and the Banking Act of 1933 were both part of Franklin D. Roosevelt's New Deal. Their objective was to address the country's banking crisis in the 1930s, which resulted in many bank failures, individuals' loss of their savings, and the erosion of public confidence in the banking system. Measures were designed to restore trust in the banking system and prevent further bank failures. Correct answer is option A
The Emergency Banking Relief Act was enacted on March 9, 1933, as an emergency response to the nationwide banking crisis that emerged during the Great Depression. This law allowed the President to regulate banks and re-open those that had closed due to the financial crisis. Banks were examined for solvency and were granted Federal Reserve assistance if deemed acceptable.
The Banking Act of 1933 was enacted to help maintain public confidence in the banking system by making it more transparent and providing additional safeguards to protect depositors' funds. It created the Federal Deposit Insurance Corporation (FDIC), which insured bank deposits of up to $5,000 per depositor. Therefore Correct answer is option A
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peavey enterprises purchased a depreciable asset for $26,500 on april 1, year 1. the asset will be depreciated using the straight-line method over its four-year useful life. assuming the asset's salvage value is $2,900, what will be the amount of accumulated depreciation on this asset on december 31, year 3? multiple choice $19,667 $23,600 $16,225 $4,917 $5,900
The amount of accumulated depreciation on the depreciable asset on December 31, Year 3 will be $16,225. Therefore, the correct answer is $16,225.
Depreciation is a method of accounting for the declining value of an asset over time. The straight-line method is one of the most common methods for calculating depreciation. It allocates an equal amount of depreciation each year of the asset's useful life.
Using the straight-line method, we calculate annual depreciation by subtracting the salvage value of the asset from its purchase price, then dividing by the useful life of the asset: Annual Depreciation = (Purchase Price - Salvage Value) / Useful Life Annual Depreciation = ($26,500 - $2,900) / 4 = $6,150
The prorated depreciation for Year 1 is:Prorated Depreciation for Year 1 = Annual Depreciation x (Number of Months in Service / 12) Prorated Depreciation for Year 1 = $6,150 x (9 / 12) = $4,613. The total accumulated depreciation at the end of Year 3 is : Accumulated Depreciation on December 31, Year 3 = $4,613 + $6,150 + $6,150 = $16,225Therefore, the correct answer is $16,225.
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Under what circumstances is the strategic management style most appropriate?
Strategic management style is most appropriate The manager does not need to be as directive and controlling when a group of employees are seasoned and get along well.
There are many different schools of thought when it comes to strategic management. Whereas a descriptive technique focuses on how strategies should be executed, a prescriptive approach to strategic management outlines how strategies should be created. Examining internal and external forces, managing resources, and developing strategies are all aspects of strategic management. Strategic leadership is the capacity of a leader to envision, plan, direct, and maximize the use of the resources at hand in order to successfully implement strategies. The ability of a manager to drive their team to fulfill the organization's strategic vision and the underlying goals for success is known as strategic leadership.
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what are types of participants found in economic systems?Producers,consumers, government.both off answer
The three types of participants found in economic systems are producers, consumers, and the government. Here option D is the correct answer.
Producers are individuals or businesses that create goods or services for sale in the marketplace. They are responsible for producing and distributing goods and services, and they make decisions about what to produce, how much to produce, and at what price to sell their products.
Consumers are individuals or groups who purchase goods and services in the marketplace. They make decisions about what to buy, where to buy it, and how much to pay for it. Their preferences and buying behavior influence the decisions of producers, which in turn affects the supply of goods and services.
The government is also an important participant in economic systems. It plays a role in regulating and controlling the economy through various policies and regulations. The government may provide public goods and services, such as infrastructure and education, and it may also intervene in the economy to address market failures, such as monopolies or externalities.
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Complete question:
What are the types of participants found in economic systems?
A - Producers,
B - consumers,
C - government
D - all of these