If Lopez company reports unadjusted first-year sales of $200,000 and cost of sales of $50,000 and the future returns and allowances equal to 5% of sales. The year-end adjusting journal entry is: Debit Sales returns and allowances $10,000, Credit Sales refunds payable $10,000.
Adjusting journal entryThe appropriate journal entry to record the transaction for future returns and allowances related to sales is:
Lopez company journal entry
Debit Sales returns and allowances $10,000
Credit Sales refunds payable $10,000
($200,000×5%)
(To record future returns and allowances)
Therefore If Lopez company reports unadjusted first-year sales of $200,000 and cost of sales of $50,000 and the future returns and allowances equal to 5% of sales. The year-end adjusting journal entry is: Debit Sales returns and allowances $10,000, Credit Sales refunds payable $10,000.
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consider the following information: total current assets $78,632 deferred income taxes $3,210 inventories $9,823 prepaid expenses $1,050 other assets $3,890 total current liabilities $32,043 what is the quick ratio?
The Quick ratio of the firm equals to 2.76.
What is quick ratio?Its measures the firm capacity to pay its current liabilities without needing to sell its inventory or obtain additional financing. In an organization, the Quick ratio is important because its communicates how well a company will be able to pay its short-term debts using only the most liquid of assets. It also signals to internal management and external investors whether the company will run out of cash.
Quick ratio = Current assets / Current liability
Quick ratio = ($78,632 + $9,823) / $32,043
Quick ratio = 2.76050932
Therefore, the Quick ratio of the firm equals to 2.76.
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a(n) is an individual who represents a company to customers by prospecting, communicating, selling, servicing, information gathering, and/or relationship building. group of answer choices auditor
Salesperson is an individual who represents a company to customers by prospecting, communicating, selling, servicing, information gathering, and/or relationship building.
There are 4 personality styles performed by a salesperson:-
Confident: objective situated, cutthroat, conclusive, fretful, controlling, clearly; bound to talk in sentences than in questions
Pleasant: patient, well disposed of, open to difficulties, quiet, casual; frequently great audience member who pose numerous inquiries and look serious areas of strength for connections.
Expressive: human satisfying, indicted, brilliant, powerful, cordial, imaginative, unconstrained, natural, faithful, excited; additionally liable to talk in sentences rather than questions and look areas of strength for connections.
Analytical: unoriginal, reality driven, formal, serious, immediate, patient, ready; liable to pose numerous inquiries and not look for individual deals connections.
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when a sweatshirt manufacturer states, "we sell it only in gray because that way we can buy plenty of gray fabric and run our plant efficiently," its statement reflects the views that were popular in which era of the evolution of marketing?
The statement "we sell it only in gray because that way we can buy plenty of gray fabric and run our plant efficiently," reflects the views that were popular in which era of the production-oriented evolution of marketing
What was the era of the production-oriented?This era was when the production orientation business dominated the market from the beginning of Capitalism to the mid 1950's. The prior idea was that a good quality product would simply sell itself.
But, this production-oriented approach worked for many organizations during this Era because of strong demand and limited supply of product.
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other things held constant, the lower a firm's tax rate, the more logical it is for the firm to use debt. true false
The tax shelter from debt is less valuable as the lower the tax rate. Consider the WACC's debt service costs: rd (1-Tax rate). The cost of debt is not reduced as much when the Tax rate is low as it is when the Tax rate is high. hence, the given statement is False.
What is the tax rate?The tax rate in a tax system is the proportion at which a company or individual is taxed. Statutory, average, marginal, and effective tax rates are just a few of the ways that can be displayed.
Hence, The cost of debt is not reduced as much when the Tax rate is low as it is when the Tax rate is high. hence, the given statement is False.
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all of the following are characteristics of an asset except: it embodies a probable future economic benefit. its value is known with certainty. the enterprise can obtain the benefit or can limit others access to it.
Its value is known with certainty and is not a characteristic of an asset.
What is an asset?A property having economic worth that somehow a person, business, or nation possesses or administers well with the hope that it might someday be useful is referred to as an asset.
The price of the set keeps on changing with time as there is the type of assets like long-term assets, current assets, or short-term assets.
Also on some assets, there is depreciation by reducing the price also it depends upon the market fluctuation. Its worth is undeniably understood, which is therefore not an attribute about an asset.
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company is interested in developing a quarterly aggregate production plan but they are not sure if a level strategy with backorders or a chase strategy would be better. they have the following information available regarding their production operation: hiring workers $40 per unit layoff workers $80 per unit inventory holding cost $40 per unit per quarter stockout cost for backorders $150 per unit production (labor) cost $30 per unit subcontracting cost $60 per unit previous quarter's production 1300 units beginning inventoy 0 units quarter forecasts are 2000, 6000, 4000, 5000, respectively. this problem has 5 questions. suppose that you want to use a level plan with backorders (one that produces at the average demand over the four quarters). answer the next two questions using this plan. do not round your intermediate calculations. round your final answer to the nearest whole number
A. if demand in this month greater than the previous month Hiring = This month production - previous month production Layoff = 0
B. .If the demand of this month less than that of previous month hiring = 0 Layoff = Previous month production - this month production.
How do production operations function?The definition of production operations management Production operations management is the process of converting the resources of an organization into products and services. The processes involved in producing products are covered by production management. Production and service delivery are two topics that fall under the purview of operations management.
According to the given information:Demand Production Hire fire
0 1300 - -
1 4000 4000 2700 = (4000-1300) 0
2 2000 2000 2000 = (4000-2000) 0
3 4000 4000 2000 = (4000-2000) 0
4 5000 5000 1000 = (5000-4000) 0
Firing cost for quarter 2 = 2000 * $80 = $160000
A. if demand in this month greater than the previous month Hiring = This month production - previous month production Layoff = 0
B. .If the demand of this month less than that of previous month hiring = 0 Layoff = Previous month production - this month production.
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4. in what order are the four primary financial statements prepared? statement of stockholders' equity > income statement > balance sheet > statement of cash flows balance sheet> income statement > statement of cash flows> statement of stockholders' equity income statement > statement of stockholders' equity > balance sheet > statement of cash flows statement of cash flows > statement of stockholders' equity > balance sheet > income statement
The correct order is income statement, statement of stockholders' equity, balance sheet ,statement of cash flows.
Financial statements are prepared by every company to disclose its financial performance to the intended users.
These statements are interrelated with each other , so it can be made in the respective order.
Firstly income statement is prepared because it does not require data from other statements to complete.
After income statement, statement of stockholders' equity is prepared because it needs net income or loss balance from the income statement.
Then balance sheet is prepared because it depends upon the stockholders' equity data.
In the last statement of cash flows is prepared because it requires data from previous year also.
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amancio is going into his fourth year of school when he is offered a prestigious position at a software company. instead of applying the opportunity cost principle to see if he should quit school and take the job, he decides to stay in school, because he has already spent so much time and money on furthering his education. amancio's hasty decision has been negatively affected by:
Amancio is going into his fourth year of school when he is offered a prestigious position at a software company. instead of applying the opportunity cost principle to see if he should quit school and take the job, he decides to stay in school, because he has already spent so much time and money on furthering his education. Amancio's hasty decision has been negatively affected by: sunk costs.
The relevant costs are the chance cost of taking the work (forgone earnings from your current job) and other stuff you could have finished with the money you wish to obtain in graduate school. Scarcity refers to the condition of insufficiency where masses are incapable of fulfilling their wants during a sufficient manner. In other words, it's a situation of fewer resources compared to unlimited human wants.
Gathering information is the most vital because information is crucial to the shaping of a consensus on a choice. Without gathering more information once software company the alternatives are made, the choice making process will grind to a halt. The "invisible hand" is the price mechanism that guides our actions within the market.
This statement matches the definition of the invisible hand within the text. Social and political forces affect the way software company within which the invisible hand works. Consumers have greater access to information. Container ships can transport a variety of goods directly. Societies can house scarcity by increasing supply.
The more goods and services available to any or all, the less scarcity there'll be. Of course, increasing supply comes with limitations, like production capacity, land available to be used, time, and so on. in a different way to handle scarcity is by reducing wants.
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select all of the following that can be obtained during discovery. a. a plaintiff's medical records in a personal injury case b. the e-mails of partners in litigation over dissolution of the partners c. the notes of a plaintiff in a meeting with the plaintiff's lawyer d. the work product of attorneys
b. email correspondence between partners involved in a partnership dissolution lawsuit c. a plaintiff's notes from a meeting with the plaintiff's attorney
what is discovery?
"Discovery" is a critical step that occurs during the pretrial phase of a legal proceeding. Both sides gather and exchange case-related material while conducting discovery in order to get ready for trial.
You can: During discovery:
assemble information; obtain informal witness testimony;
Obtain testimony from witnesses in a deposition;
discover what the opposing side will say;
Evaluate the strength of their argument.
Check the strength of your own argument.
Obtain all the necessary data so that you may submit your case in court.
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which area in exhibit 9-17 represents deadweight loss under monopoly with perfect price discrimination? there is no deadweight loss
The place is famous 9-17 represents deadweight loss under monopoly with perfect price discrimination: there's no customer surplus.
Price discrimination is a microeconomic pricing approach in which identical or largely similar goods or offerings are bought at unique expenses via the same provider in distinct markets. charge discrimination is outstanding from product differentiation by using the greater substantial distinction in production price for the in another way priced merchandise concerned inside the latter method.[3] charge differentiation basically is based on the variation within the customers' willingness to pay and the elasticity of their call.
Price discrimination is a promoting method that fees clients different fees for an identical product or service based totally on what the seller thinks they could get the consumer to conform to. In pure price discrimination, the vendor costs each client the maximum rate they'll pay.
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you can drive to campus, take a bus, or walk. driving costs you $1/mile in gas and maintenance, the bus costs $2 for unlimited distance and walking is free but involves a dissatisfaction equivalent to $1/mile. if you live 3 miles from campus, and are a rational decision maker, what is your reservation price for a one-way bus ticket? question 9 options: $0 $2 $3 $6
The reservation price for a one-way bus ticket is $2.
A reservation price is a limit at the fee of a very good or a provider. at the call-for side, it's for the very best charge that a consumer is inclined to pay; at the supply aspect, it is the lowest fee a dealer is willing to just accept for an amazing service. Those negotiations typically revolve across the region of a possible settlement, that's the variety of prices that either side is willing to pay or be given.
The driving costs you $1/mile
the bus costs $2/mile
walking is free but involves a dissatisfaction equivalent to $1/mile
Distance from campus = 3 mile
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one advantage of an unrelated diversification strategy in a developed economy is that competitors cannot easily imitate the financial economies whereas they can easily replicate the value gained through the use of a related diversification strategy.
This statement is false, One advantage of an unrelated diversification strategy in a developed economy is that competitors cannot easily imitate the financial economies whereas they can easily replicate the value gained through the use of a related diversification strategy.
Diversification strategy is carried out while organizations want to develop. it's miles the exercise of introducing a new product into your supply chain a good way to boom profits. these merchandise might be a brand new section of the enterprise your enterprise already occupies, known as enterprise-level diversification.
What is the diversification in marketing?
With the aid of definition. Diversification is a danger-reduction strategy that involves including product, offerings, location, clients and markets on your commercial enterprise's portfolio. This spotlight shines light on key considerations for organizations interested by developing operations to global markets.
Why is diversification method vital?
The diversification method enables agencies to discover capability markets they can tap into or new products they might release to increase their sales and sales.
how many varieties of diversification techniques are there?
There are three kinds of diversification: concentric, horizontal, and conglomerate.
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what monthly sharpe and information ratios has hedge fund cphf realized before fees? also, what is the maximum drawdown of hedge fund cphf before fees (as a percentage of the high water mark)?
The Sharpe ratio provides an indication of a fund's returns relative to its level of risk. This is calculated by subtracting a predetermined risk-free rate from the fund's annualized return to generate the fund's excess return, then dividing it by the fund's volatility over the same period.
Investors most commonly evaluate hedge funds by assessing their Sharpe Ratio over a number of years. A Sharpe Ratio measures performance while taking into account the amount of risk to which the investments are exposed.
Ratios do not provide any insight into how better one fund is compared to the other. Sharpe ratio ignores the serial correlation between hedge fund returns. If the serial correlation is present in the month-to-month returns, the same can result in overstating the Sharpe ratio.
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studies and research indicate that when and their work cooperatively, the results contribute to better strategic business decisions that add value to the business. (choose two correct answers)
Studies and research indicate that when managers and their attorneys work cooperatively, the results contribute to better strategic business decisions that add value to the business.
Business is the hobby of making one's dwelling or being profitable with the aid of generating or shopping for and selling products. It's also "any activity or business enterprise entered into for income."
A business is defined as an enterprise or enterprising entity engaged in commercial, business, or professional sports. Businesses can be for-earnings entities or non-income corporations. Commercial enterprise types vary from confined liability agencies to sole proprietorships, companies, and partnerships.
Business improves the fine of life in approaches. Firstly, it offers high-quality goods and services to the people required for their leisure, comfort, and fitness. Secondly, an enterprise offers employment opportunities to humans by which they can generate profits and improve the high-quality of lifestyles.
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from a business perspective, an information system provides a solution to a problem or challenge facing a firm and represents a combination of people, organization, and technology elements.
The organization dimension of information systems consists of The organization's hierarchy, functional specialties, business processes, culture, and political interest groups
How does Modern Business influence Information Systems?
Businesses that can develop new approaches and cutting-edge techniques can survive the market and continue to operate in line with client requests, given the ongoing change and development of customer preferences and requirements. Businesses may gain a lot from the adoption of information systems, which also aid in regulating both internal and external activities.
The advantages of an information system are as follows:
Fresh Goods and ServicesAny company that wants to grow and have a solid handle on the future must have a Business Information System.
Information RetentionAll businesses should keep a record of their actions in order to identify issues and, ultimately, find solutions.
Complete question -
From a business perspective, an information system provides a solution to a problem or challenge facing a firm and represents a combination of people, organization, and technology elements.
The organization dimension of information systems consists of __________.
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with relationship selling the salesperson would spend most of his or her contact time with the prospect talking about the product, hoping to close the sale. true false
The given statement is false. With relationship selling, the salesperson spends most of his or her time attempting to build a problem-solving environment with the customer.
In sales, trade, and economics, a customer is the person who receives an item, service, product, or idea from a seller, vendor, or supplier in exchange for money or another useful consideration. A customer is also referred to as a client, buyer, or purchaser.
A customer is a person or business who receives, uses, or purchases a good or service and has the option of selecting from a variety of products and suppliers. All businesses want to draw clients or customers and convince them to buy the goods they are selling.
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a firm with a production orientation assumes that if you have a great product, customers will come to you.
While a sales orientation focuses on boosting a firm's earnings through aggressive advertising, a production orientation emphasizes a company's internal strengths.
What is advertising?An aggressively commercial, impersonal message is used in advertising to sell or promote a product, service, or idea. Advertising is frequently sponsored by businesses who want to promote their products or services. Because the message in advertising is supported and managed by the advertiser, public relations and advertising are separate from one another. It differs from personal selling since the message is non-personal, or not directed at a particular person.
Commercial advertising typically aims to increase consumption of their products or services by "branding," which associates a product name or image with certain features in consumers' thoughts.
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When defining its market segments, abc, inc. Identifies groups based on characteristics such as age, gender, income, and education. What type of market segmentation is this?.
Answer: It's gender segments as it divided the market segments into sub groups: age, gender, income, and education.
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Explanation:
paul savage purchased a restaurant named burger haven from larry jones. how many entities are described in this example
The acquisition would result in the same number of reporting organizations as previously, including Larry Jones and Burger Haven. Currently Paul (3 entities): Burger Haven, Larry, and Paul (three entities) remained the same.
To carry out company operations, a business entity is created. Discover the various varieties and how to select one. A business entity is, in the simplest words, a group of people who come together to conduct trade, conduct business, or participate in similar activities. There are many different types of business entities, including sole proprietorships, partnerships, LLCs, corporations, etc. The type of business entity determines both the organizational structure and the tax treatment of the company. Choosing your company's structure, or selecting a business entity type, should be one of your first priorities when beginning a firm. This choice will have significant financial and legal repercussions for your company.
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business processes are static, routine, daily business processes such as stocking inventory, checking out customers, or daily opening and closing processes.
Static, routine, everyday business processes along with stocking stock, sorting out customers, or everyday establishing and final approaches. tries to understand and degree the modern-day procedure and make overall performance enhancements for that reason.
Operational commercial business processes. static, ordinary, daily. automation. System of computerizing guide tasks, making the more efficient/effective and dramatically lowering operational costs.
Operational strategies (core commercial business tactics) are people who convey direct costs to customers and the corporation itself. They are the tactics that immediately create sales. Examples include product production, order to-cash process, and delivering merchandise to customers.
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eric patterson earns $80,000 a year. his monthly expenses total $4,500. what is the minimum amount of money that he should set aside in an emergency fund?
Eric Patterson should set aside minimum amount of money in an emergency fund will be $4,500 * 3 i.e., $13,500.
What's in an emergency fund?
An emergency fund is a coins reserve it is mainly set aside for unplanned expenses or economic emergencies. Some commonplace examples encompass vehicle repairs, domestic repairs, clinical bills, or a lack of earnings.
What's an emergency fund for?
As easy as the answer seems, it's far essential to ensure that you could distinguish among what is an emergency and what is not. An emergency fund is an unexpected invoice that you can not pay—no longer cash to visit a movie or for some different nonessential expense.
How tons money need to be stored in an emergency fund?
Whilst the size of your emergency fund will range relying to your way of life, month-to-month fees, income, and dependents, the rule of thumb is to position away at the least three to 6 months' well worth of fees.
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ira deductions and payments to self-employed sep, simple, keogh, and other qualified plans from irs form 1040 schedule 1-total of lines 15 19.
IRA deductions and payments to self-employed SEP, SIMPLE, Keogh, and other eligible plans from IRS Form 1040 Schedule 1 - total of lines 15 + 19.
Student's 2020 Untaxed IncomePayments to tax-deferred pension and retirement savings programs (paid directly or withheld from revenues), including, but not limited to, amounts noted on the W-2 forms in Boxes 12a via 12d, codes D, F, G E,, H, and S. Child support is obtained for any of your offspring. Don't include foster care or adoption expenses.Tax-exempt interest payment from IRS Form 1040–line 2.Untaxed amounts of IRA distributions from IRS Document 1040–lines (lines 4a + 5a) minus (lines 4b + 5b).To learn more about IRA deductions visit the link
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what are value propositions, why are they important, and what makes a great one? how should lyft take into account the feedback from potential customers?
A value proposition enables a business to guarantee that customers will switch from the product of a rival to that of the business by promising, providing, and delivering a value. In the instance of Lyft, the company's core value proposition was that it would offer passengers secure transportation services with the fewest possible steps and reasonable pricing. This made it possible for their customers to book rides through their smartphone application with only one swipe, making it simpler than looking for and hailing a traditional taxi. Additionally, it typically costs less than a standard cab rate.
What is a value proposition?A value proposition is a brief explanation of why a client might select your good or service. It conveys the most obvious advantage that clients get from doing business with you. Every value proposition should address a customer's dilemma and present your business as the solution provider.
A strong value proposition may emphasize how you distinguish yourself from rivals, but it should always center on how clients perceive your worth. Similarly, discussions on brand strategy and taglines should be based on a value proposition, but they are distinct from one another.
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for a fee, isabella can open a pizza hut restaurant in her hometown of sicily. the parent company has agreed that she can use the company name and it will also provide her with marketing and operational support. isabella is in the process of .
Pizza Hut has developed a reputation for excellence over the past 40 years that has gained the respect of both customers and industry insiders.
It has taken constant innovation, dedication to quality, commitment to value, and commitment to customer service to become a premier pizza company. Through more than four decades of success, Pizza Hut's business has been distinguished by entrepreneurship, expansion, and leadership.
Pizza Hut anticipates further success in the future thanks to the strength of its legacy, culture, employees, and franchisees. Each organization has its own set of goals. Different targets are defined in order to reach these goals. Depending on the type of business, targets move down the hierarchy. management chooses a variety of techniques to accomplish the goals.
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a network of manufacturers and service providers that work together to convert and move goods from the raw materials stage through to the end user is the definition of.
a network of manufacturers and service providers that work together to convert and move goods from the raw materials stage through to the end user is the definition of a supply chain.
A supply chain includes all the steps necessary to deliver a finished product or service to a customer. This step may include sourcing raw materials, transportation to production, and transportation to distribution centers or retail outlets where the finished product can be shipped to consumers.
The supply chain is the network of all the people, organizations, resources, activities, and technologies involved in making and selling products. The supply chain includes everything from the delivery of raw materials from suppliers to manufacturers to final delivery to the end user.
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key indicators of the growing importance of sustainability in managing an organization include .
Key indicators of the growing importance of sustainability in managing an organization include:
Shareholder pressure on corporationsworldwide safety issuesclimate changeThe definition of employer refers to the act of placing matters right into a logical order or the act of taking a green and orderly approach to obligations, or a group of humans who've officially come collectively. When you ease up your desk and document all of your papers into logical spots, this is an instance of organization.
Three styles of groups describe the organizational systems which can be used by maximum organizations today: useful, departmental, and matrix. every of those forms has benefits and drawbacks that owners need to consider before finding out which one to enforce for his or her commercial enterprise.
You may grow your productiveness. By preserving prepared, you may keep time seeking out things and could have more time to paintings on critical tasks. As corporation can improve the glide of conversation between you and your crew, you can additionally make your group greater effective.
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what is the total monthly rent roll of a building with the following rents: (10) 2 bedrooms at $4,200/month (5) 1 bedroom at $3,200/month (4) studios at $2,100/month
The monthly rent roll of a building will be:
(10 * $4,200) + (5 * $3,200) + (4 * $2,100)
= $42,000 + $16,000 + $8,400
= $66,400
Why are they called buildings?
It is now called building because the English ``ing'' is added to certain verbs to make them nouns. Add "ing" to the verb "built" to make thing a noun (a building). Em: Is building a noun and a verb when built?
Definition of building is the process of building a structure or structure. An example of a building is a school. An act, process, technique, or profession of architecture. Something built with walls and a roof, like a house or a factory. structure.
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all of the following are common tools used in industry to analyze and develop competitive advantages, except .
Competitive analysis model is not a common tool used in the industry to analyze and develop competitive advantages.
Value chain analysis, the five forces model and three generic strategies are common tools used in the industry to analyze and develop competitive strategies among companies. However, the competitive analysis model is not used to analyze and create a competitive advantage.
A competitive analysis model is a tool or model that marketing experts can use to compare their marketing strategy or business plan to the plans or strategies of their competitors. This model can generate a visual framework for competitive marketing analysis.
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Although you have to get ready for a date, you are considering playing one more video game. You will choose to play the game if?
Although you have to get ready for a date, you are considering playing one more video game. You will choose to play one more game if your date says they will be a little late.
When meeting someone for a date, there are some things one needs to be sure of like always being on time, the personal gestures, volunteering to pay the bill if not then asking to split the bill in half. Being a good listener than a good talker and also being aware of your table etiquette, treating the waiter or waitress with respect, complementing your date.
All of these are the key factors that decide whether you are meeting with them again or not because it not the food that they are going to remember, it's your behavior that is going to move ahead.
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the most appropriate certifications for accountants working outside of public accounting include .
The most appropriate certifications for accountants working outside of public accounting include certified management accountants.
Why is management accounting important?The information required by management to control the firm effectively and efficiently is provided by management accounting. To combine various bits of information, management accounting was created, ensuring that decision-making is quick, easy, and efficient.
Public companies, commercial companies, and governmental organizations use management accountants. They are responsible for keeping track of financial data, processing it, selecting and managing investments for the company, managing risks, budgeting, planning, strategizing, and making decisions.
Thus, A bachelor's degree or equivalent professional certification, along with two years of work experience in management accounting or financial management, are requirements for CMA certification. Candidates for CMA must also pass a two-part test.
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