The balance of the VISA Credit Card account after the credit card payment is recorded is $0.00. This is because the payment of $800.00 was recorded, thus bringing the balance down to zero.
What is Credit Card?A credit card is a payment card issued to users (cardholders) to enable the cardholder to pay a merchant for goods and services based on the cardholder's promise to the card issuer to pay them for the amounts plus the other agreed charges. The card issuer (usually a bank) creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance. A credit card is different from a debit card, which is linked to the cardholder's bank account, and money is withdrawn from the account to pay for goods and services. Credit cards are also different from charge cards, which require the balance to be paid in full each month.
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Complete Question:
EM6.11 Pay Credit Card
Mookie the Beagle Concierge makes a payment on the VISA credit card on 01/31/2023 in the amount of $800.
Required:
To record the payment on the VISA credit card:
From the Navigation Bar, select Expenses > select Expenses tab
From the New transaction drop-down menu, select Pay down credit card
For Which credit card did you pay?, select 2100 VISA Credit Card
For How much did you pay?, enter 800.00
For Date of payment, enter 01/31/2023
For What did you use to make this payment?, select 1001 Checking
Select Save and close
What is the balance of the VISA Credit Card account after the credit card payment is recorded?
Note: Answer this question in the table shown below. Round your answer to the nearest dollar amount.
Whitley Construction Company is in the home remodeling business. Whitley has three teams of highly skilled employees, each of whom has multiple skills involving carpentry, painting, and other home remodeling activities. Each team is led by an experienced employee who coordinates the work done on each job. As the needs of different jobs change, some team members may be shifted to other teams for short periods of time. Whitley uses a job costing system to determine job costs and to serve as a basis for bidding and pricing the jobs. Direct materials and direct labor are easily traced to each job using Whitley’s cost tracking software. Overhead consists of the purchase and maintenance of construction equipment, some supervisory labor, the cost of bidding for new customers, and administrative costs. Whitley uses an annual overhead rate based on direct labor hours.
Whitley has recently completed work for three clients: Harrison, Barnes, and Tyler. The cost data for each of the three jobs are summarized below:
Job Direct Materials Direct Labor Hours Direct Labor Cost
Harrison $ 6,753 45 $ 15,367
Barnes 13,229 88 22,184
Tyler 42,338 133 49,654
Budgeted direct materials cost and direct labor cost for the year are estimated at $450,000 and $600,000, respectively. Direct labor hours are budgeted at 22,500 hours, and total overhead is budgeted at $495,000.
Required:
1. Calculate the total cost of each of the three jobs.
2. Suppose that for the entire year, Whitley used 23,800 labor hours and total actual overhead was $525,000. What is the amount of underapplied or overapplied overhead?
The total cost of the three jobs for Whitley Construction Company has been calculated as follows: Harrison - $7,995, Barnes - $16,985, and Tyler - $56,803. In addition, based on actual overhead of $525,000 and actual direct labor hours of 23,800, the amount of overapplied overhead for the year is $1,400.
The total cost of each job is calculated as follows:
Harrison: Direct Materials + Direct Labor Cost + (Direct Labor Hours x Overhead Rate)
= $6,753 + $15,367 + (45 x Overhead Rate)
Barnes: Direct Materials + Direct Labor Cost + (Direct Labor Hours x Overhead Rate)
= $13,229 + $22,184 + (88 x Overhead Rate)
Tyler: Direct Materials + Direct Labor Cost + (Direct Labor Hours x Overhead Rate)
= $42,338 + $49,654 + (133 x Overhead Rate)
Using the annual overhead rate based on direct labor hours, we can calculate the overhead rate as follows:
Annual overhead rate = Total overhead / Total budgeted direct labor hours
= $495,000 / 22,500 hours
= $22 per direct labor hour
Therefore, the total cost of each job is:
Harrison: $6,753 + $15,367 + (45 x $22) = $7,995
Barnes: $13,229 + $22,184 + (88 x $22) = $16,985
Tyler: $42,338 + $49,654 + (133 x $22) = $56,803
The amount of underapplied or overapplied overhead can be calculated using the following formula:
Actual Overhead - Applied Overhead
To calculate the applied overhead, we use the annual overhead rate based on direct labor hours to multiply the actual direct labor hours used for the year:
Applied Overhead = Annual Overhead Rate x Actual Direct Labor Hours
= $22 x 23,800 hours
= $523,600
Therefore, the amount of underapplied or overapplied overhead is:
Actual Overhead - Applied Overhead
= $525,000 - $523,600
= $1,400 overapplied overhead.
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Selena wrote a popular blog for a well-known cooking magazine. She used the success of her blog to write her own series of books and create a companion line of food products.
Which factor of production below does Selena illustrate?
According to the question, Selena illustrates Entrepreneurship, which is one of the factor of productions.
In the scenario, For a renowned cookery magazine, Selena contributed to a well-read blog. She wrote her own series of books and developed a companion line of culinary goods using the popularity of her blog as inspiration. This is an example of Entrepreneurship.
Hence, Selena is an Entrepreneur.
Entrepreneurship?Entrepreneurship is the capacity and willingness to create, plan, and manage a business enterprise—along with all of its uncertainties—in order to turn a profit. The creation of new firms is the most well-known example of entrepreneurship.
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Match each instant message with the appropriate type of recipient.
customer
Tom Louis, a colleague who is also a friend
Sue Fanning, a colleague with whom you've never spoken
Hey! Tell me what you need.
Hi. Did you need any help from me?
Welcome to live chat. How may I help you?
Match each instant message with the appropriate type of recipient.
Hey! Tell me what you need - Customer Tom LouisHi. Did you need any help from me? - Colleague who is also a friend Sue FanningWelcome to live chat. How may I help you? - Colleague with whom you've never spoken.A business communicator is necessary to growth. If retailer responsibility are the well-treated to the customer. A business can run to long term are the creation the trustworthiness.
If the time to the digital are the online conversation are the asked may I help you? Colleague with whom you've never spoken. Hi. Did you require any help from me? Colleague who is also a friend of Sue Fanning.
As a result, the significance of the instant message with the appropriate type of recipient are the aforementioned.
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your research of competitors shows prices of
According to the question, If you throw out the highest and lowest data points (outliers), the mean of the remaining prices would be 63$.
Therefore the answer is Mean= 63$.
How to find?Given in the question-
Research of competitors shows prices of $45, $78, $13, $125, and $66.
Now, we take out the highest and lowest data points.
So, 125$ and 13$ are taken out.
We add the left values-
- 78+ 66+45= 189
To find the mean we divide this sum by 3-
= 189/3= 63$
Hence, the mean is 63$.
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define complements. define substitutions. explain the diffierence and how they work
A replacement good is one that fulfils the same function for customers as another item. When two goods are eaten together, the complementary item gives value to the other.
What is the difference between substitutes and complements?
Tea and coffee are two examples of substitute items that are independent of one another and may each be used to fulfil a specific need. Contrarily, complementary items that go together to meet a certain need, like bread and butter, are depending on one another.
A product or service that consumers may quickly swap out for another is referred to as a replacement. In economics, substitute items are frequently used when the demand for one product rises as the price of the alternative product rises.
Cross price elasticity is used to establish if products are complements or substitutes; if it is positive, the products are replacements, and if it is negative, the products are complements.
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What is the FOCI Mitigation:
FOCI Mitigation entails the steps taken by America's federal government to counteract foreign ownership, direction, or impact (FOCI) over US-based companies working in sensitive industries such as national defense, telecommunications, and energy.
Importance of FOCI mitigationThe necessity for FOCI mitigation is due to the potential threat to security following foreign control of those American corporations operating within the aforementioned areas; so, when a non-US business seeks to purchase an American enterprise engaged in one of these sectors, the government comprehensively examines the exchange to determine if it could lead to FOCI.
In the instance that the United States government figures out that a foreign adquisition may consequently create FOCI, they will necessitate the US company involved in the transaction to enter into a contractual agreement with the US authorities. This agreement is understood as the FOCI Mitigation Agreement.
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How is a cryptocurrency payment different from other digital transactions?
A. It uses biometric technology.
B. It requires voice recognition.
C. It does not have real-world value.
OD. It does not require a bank.
In contrast to other digital deals, Cryptocurrency is a digital payment that don't bear a bank. It's choice D.
Digital forms of money are motorized financial norms that application cryptography to get and check exchanges in an association. also, cryptography is used to manage and control the product of these currencies.
Cryptocurrencies include Ethereum and Bitcoin, among others. Cryptocurrencies may or may not be regulated, depending on the governance. Cryptocurrencies use a decentralized system to record deals and issue new units rather than having a centralized issuing or regulating authority.
Cryptocurrencies serve as both a currency and a virtual account system because they're translated. A cryptocurrency portmanteau is demanded to use cryptocurrencies.
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What are Business Loan?
Answer:
Credit
Explanation:
What people owns to the business
• please explain the 5 common strategies and actions of rival companies. with examples
Thank you.
( I need the answer no more 2 hours ).
Rival companies typically employ various strategies and actions to compete with each other in the market such as price competition, product differentiation, marketing and advertising, partnerships and price competition.
How companies competeHere are five common strategies and actions that rival companies may use:
Price competition: In order to outbid competitors, this tactic entails reducing the cost of a good or service. This is frequently done to draw in consumers who are interested in the best bargain yet are price conscious.
Product differentiation: This tactic entails developing distinctive goods or services that distinguish them from rivals. Features, design, quality, or brand reputation can all be used by businesses to differentiate their products.
Marketing and advertising: Businesses utilize marketing and advertising to build their brands, boost revenue, and draw in new clients. In order to reach target audiences, this strategy calls for the creation of appealing marketing messages and the use of numerous channels.
Strategic alliances and partnerships: Strategic partnerships and alliances are created by businesses to obtain access to new markets, technologies, or resources. This tactic entails working with other businesses to accomplish common objectives.
Mergers and acquisitions: To expand market share, lessen rivalry, or gain access to cutting-edge technologies or resources, businesses may combine with or purchase rival businesses. For the purpose of achieving synergies and economies of scale, this strategy involves buying or merging with another business.
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The first quarter tax return needs to filed for prevosti
Prevosti needs to file their first quarter tax return and pay any taxes owed by the deadline.
As a taxpayer, Prevosti is required to file their tax return and pay any taxes owed to the government by the deadline. For the first quarter, this typically means filing the tax return and paying any taxes owed by April 15th of the year following the reporting period.
The tax return should accurately report all income and deductions for the reporting period, and any taxes owed should be paid in full by the deadline to avoid penalties and interest charges. It is important for Prevosti to keep accurate records and file their tax return in a timely manner to remain compliant with tax laws and regulations.
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--The complete question is, What needs to be done for Prevosti's first quarter tax return?--
Curtis's team is in a heated discussion during a meeting. He wants to help lessen the conflict. What is the LEAST appropriate question for him to ask in this moment?
Do we have ground rules in place?
Are we paying enough attention to results?
Why can't we trust each other?
Who is to blame for causing this conflict?
C. Why can't we trust each other?
Asking "Why can't we trust each other?" is the least appropriate question for Curtis to ask at this moment. This question is accusatory and implies that there is a lack of trust among team members. It can make team members feel defensive and escalate the conflict.
On the other hand, asking questions like "Do we have ground rules in place?" can help establish norms and facilitate communication. "Are we paying enough attention to results?" can help the team refocus on the task at hand. "Who is to blame for causing this conflict?" can help identify the root cause of the conflict, but it should be asked in a non-accusatory way.
explain the components of National income
National income is the total value of all goods and services produced within a country's borders, including both goods produced by domestic firms and foreign firms operating within the country. The components of national income include:
1. Wages and salaries: This includes the income earned by employees for their work, including both hourly wages and salaries.
2. Profits: Profits are the income earned by businesses after they have paid all their expenses, including salaries, rent, and other costs.
3. Rent: Rent is the income earned by landlords for the use of their property, such as land or buildings.
4. Interest: Interest is the income earned by lenders for lending money to borrowers, such as banks or other financial institutions.
5. Dividends: Dividends are the income earned by shareholders for their ownership of a company's stock.
6. Indirect taxes: Indirect taxes are taxes that are levied on goods and services, such as sales taxes or value-added taxes.
7. Subsidies: Subsidies are payments made by the government to businesses or individuals to encourage certain activities, such as the production of certain goods or services.
8. Depreciation: Depreciation is the decrease in value of an asset over time, such as a piece of machinery or a building.
Together, these components make up the total national income of a country, and they provide a measure of the overall health and productivity of the economy.
Passage of the Affordable Care Act incorporated which of the following health insurance market reforms?
Answer:
The ACA establishes federal requirements that apply to private health insurance. The reforms affect insurance offered to groups and individuals; impose requirements on sponsors of coverage; and, collectively, establish a federal floor with respect to access to coverage, premiums, benefits, cost sharing, and consumer protections. Although such market reforms may be new at the federal level, many of the ACA’s reforms had already been enacted in some form in several states, withgreat variation in...
Adama Garment which is operating in Adama currently has opened four new stores in Ethiopia. Data on monthly sales volume and labor hours are given below for each town. Which store location has the highest labor productivity? Continued 4. Take a case of one company or the company in which you are working, and then: Identify the outputs and inputs of the company Estimate yearly outputs and inputs identified either in value or volume Calculate single, multiple, and total factor productivity
Output divided by input is productivity. Calculate each store's labor productivity: The highest is 200 birr per work hour in Bale-Robe. We should anticipate a speculative company that creates technology.
The company's feedback data points may include labor hours, raw materials, and energy expenditures, and its outcomes may be calculated based on the number of products produced or the revenue generated from sales.
We would need to gather data on the organization's activities, such as the number of hours spent, the cost of unpolished components, and the absolute deal revenue, in order to evaluate annual sources of information and results.
The organization's single-factor efficiency (SFP) can then be calculated by dividing the outcome by a single piece of information, such as work hours or raw components.
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1- The Net Operating Profit after Taxes (NOPAT) using the bottom-up method is provided by:
a. operating income minus tax benefit minus taxes as reported
b. operating income plus tax benefit minus taxes as reported
c. net income plus net financial expenses minus tax benefit
The bottom-up method yields the Net Operating Profit after Taxes (NOPAT) as follows: a. the reported operating income minus the tax benefit minus the taxes .
What Is the Net Operating Profit After Tax?A financial metric known as net operating profit after taxes (NOPAT) depicts a company's core operations, net of taxes, performance. NOPAT is a more accurate measurement of operating efficiency for leveraged businesses and is frequently used in economic value added (EVA) calculations. The tax savings that numerous businesses obtain as a result of existing debt are not included in NOPAT. A company's potential cash earnings if its capitalization were unleveraged, or devoid of debt, are referred to as its net operating profit after taxes (NOPAT). There are no one-time expenses or losses included in the figure; These do not accurately reflect an organization's profitability. Even though they may have an impact on the company's bottom line that year, charges arising from a merger or acquisition may not always provide an accurate picture of the business's operations.
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PLEASE HELP
Discussion of how business intelligence is used or could be used to support SpaceX's 3D printing process
Business intelligence (BI) can be employed to provide assistance to SpaceX's 3D printing procedure in several ways:
How business intelligence is used or could be used to support SpaceX's 3D printing processQuality regulation: BI tools could facilitate the monitoring of the quality of 3D-printed parts, recognize errors anddefects, plus detect areas for advancement. By exploring data from the 3D printing step, SpaceX may discover structures and trends that hint towards potential troubles with both the design as well as fabrication process, allowing them to take corresponding adjustments.
Cost enhancement: BI tools might be implemented to investigatethe cost of 3D printing and pinpoint sections where price savings can be accomplished. For example, by examining information concerning material usage, labor costs, and equipment efficacy, SpaceX will be able to minimize expenditures while retaining greatness.
Process streamlining: BI tools may be exploited to optimize the 3D printing method by discovering hurdles, problems, or opportunities for betterment. For example, by studying data on utilization of machines and printing rate, SpaceX will recognize openings to escalate proficiency and reduce printing time.
Predictive maintenance: BI instruments could promote surveillance of health of 3D printers and anticipate when upkeep or renovations are needed. By evaluating data regarding functioning of devices and maintenance history, SpaceX would be capable of foreseeing repair needs and arrange mending or substitution ahead of time, curtailing downtimes and heightening machine operability.
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Which of the following is a step that you could take to ensure that your thank you letter is error-free?
Answer:
multiple ways
Explanation:
Read out loud to yourself. Get another person to read it. Spill check. Grammer proof read check. Email it to a tutor.
What document is a loan from a bank to a purchaser?
Answer: Mortgage
Explanation:
Took the quiz
Zeke is working on a big project at work with his colleagues. Zeke's role is considered the Co-ordinator according to Dr. Belbin's Team Roles. What is MOST likely one of Zeke's main responsibilities?
He performs quality control to make sure the finished product is perfect.
He shares his deep, expert knowledge of the main topics involved.
He brainstorms new ideas when everyone has run out of creativity.
He prepares a spreadsheet with everyone's tasks and deadlines.
D) He prepares a spreadsheet with everyone's tasks and deadlines is most likely one of Zeke's main responsibilities as a coordinator according to Dr. Belbin's Team Roles.
Here's why:
- Dr. Belbin's Team Roles identify nine different roles that people play in a team, such as coordinator, team worker, implementer, and so on.
- The coordinator is the person who clarifies goals, promotes decision-making, delegates tasks, and coordinates the team's efforts.
- Preparing a spreadsheet with everyone's tasks and deadlines is a common way for coordinators to keep track of the team's progress and ensure that everyone is on the same page.
- While quality control, expert knowledge sharing, and brainstorming are important tasks in a team, they are more likely to be performed by other team roles, such as monitor evaluator, specialist, and plant, respectively.
How would the court classify the Chickasaw Club corporation domestic or foreign, public or private? Why?
A domestic corporation is one that conducts business in the country where it was formed. This is comparable to a foreign firm that operates in a country other than the one in which it was formed.
A foreign corporation is a company that operates in another country or state but was formed or registered under the laws of another state. A domestic corporation, in contrast, is one that has its corporate headquarters in the state in which it conducts business.
For instance, if a company is incorporated in Delaware and is authorized to conduct business in other states, both of those states classify the company as a foreign corporation and a domestic corporation, respectively.
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Corporation in Alberta and Quebec only need to file one tax?
True
False
For Alberta or Quebec, the federal government does not collect personal or business taxes. A regressive tax is the sales tax. False.
Is it possible to file taxes in two Canadian provinces?It makes no difference when it comes to filing your income taxes if you reside in one province or territory while working and paying taxes in another. On December 31 of the tax year, you must file your income tax for the province or territory where you currently reside.
Who is required to file a tax return in Quebec?Even if you were a resident of another Canadian province or territory on December 31 of a specific year for tax reasons, you can still be required to submit an income tax return in Quebec. in order to learn more.
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what you’ve learned in this class regarding international business? Did your views or perceptions of international business change after taking this course? Why or why not? Please explain.
Many people view international business as a way to create economic growth and job opportunities.
How is international business perceived ?Engaging in international business provides a unique opportunity for cultural exchange and understanding between nations. Through conducting commerce with other countries, people and companies acquire an alternate perspective on diverse customs, different ways of working and varying habits which can result in enhanced respect and admiration for diversity.
However, there are apprehensions towards the ethical concerns in such an undertaking, largely due to issues pertaining to labor practices, human rights as well as environmental impact. To some, involving oneself in global commerce is viewed merely as utilizing workers or exploiting resources outside their own country to increase monetary gain.
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The following table represents the Human Resource Development (HRD) international and local trends. Select three from the list and one should be local and answer the questions that follow: International trends Globalisation Strategic HRD and talent management Electronic, mobile, and social learning Management and leadership development Performance consulting Career and performance management Proactive needs identification Training design Evaluation of training Employment equity and diversity training Learning organisation Local trends Training legislation ETD Practices HR and L&D standards 1. Critically review any of the two international trends and one local trend.(30) 2. Formulate the HRD strategy that you can apply to these trends. (15) 3. Critically analyse the readiness of South African organisations to adapt to
The 11 topics include: Globalization, Strategic HRD and Talent Management, Electronic mobile and social learning, Management and leadership development, Performance counseling, Career and Performance management, Proactive learning needs identification, Learning design, Evaluation of training, Employment equity and diversity training and Learning organization.
Globalization is companies are forced to approach their business activities with an more external focus. Strategy drives execution and that is essentially the relationship between talent management and human resources management. Talent management strategy informs and dictates the decisions and actions taken by the human resources department and its individual team members within their roles. Leadership and management development are about enabling the future governance and stewardship of the organization. Therefore organizations need to forge their own agenda, and dictate fitting values, structure, program content, measurements and processes. Performance Counseling refers to the help provided by a manager to his subordinates in objectively analyzing their performance.
The role of the HRD professional includes planning formal and. informal career development strategies, providing coaching and mentoring. training to organization leaders and employees, and selecting and obtain- ing technological resources to manage these processes. Well-designed career. Learning Design is the framework that supports learning experiences. It refers to deliberate choices about what, when, where and how to teach.
Training evaluation is the systematic process of collecting information and using that information to improve your training. DEI training supports employees in understanding how best to work with other people. A learning organization can be defined as any organization that prioritizes personal and professional growth through knowledge transfer.
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The source of fashion
There are several sources of fashion including ;
Historical and cultural influencesIndividual creativity and expressionWhere does inspiration for fashion come from ?Fashion is deeply entrenched in intertwining cultural and historical eras, as evident from a diversity of global traditional attires and fabrics through to periods like the Victorian-age or 1960s influencing modern fashion.
Similarly, fashion serves as an avenue of expressing an individual's distinct taste and persona; popular figures such as celebrities and those in the media often shape up trends which people adapt accordingly.
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Are any e-bikes made in the USA?
Answer:
there are supposedly 3 companies that are made in the USA
Eastport Inc. was organized on June 5, Year 1. It was authorized to issue 350,000 shares of $11 par common stock and 40,000 shares
of 5 percent cumulative class A preferred stock. The class A stock had a stated value of $20 per share. The following stock
transactions pertain to Eastport Inc.:
1. Issued 22,000 shares of common stock for $16 per share.
2. Issued 7,000 shares of the class A preferred stock for $25 per share.
3. Issued 55,000 shares of common stock for $19 per share.
Required
Prepare the stockholders' equity section of the balance sheet immediately after these transactions have been recognized.
EASTPORT INC.
Balance Sheet (partial)
For the Year Ended Year 1
Stockholders' Equity
Total Paid-In Capital
Total stockholders' equity
A security that symbolizes ownership in a firm is called common stock. Common stock owners choose the board of directors and cast ballots for corporate rules. Long-term rates of return are often higher with this type of stock ownership.
A form of corporate equity ownership and a kind of security is common stock. Outside of the United States, the words voting share and ordinary share are widely used. In the UK and other Commonwealth nations, they are referred to as equity shares or ordinary shares.
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Assume country A has the following data: Gross Domestic Product (GDP) Factor income received abroad Factor income paid abroad Compute: i. Net factor income from abroad. ii. Gross National Product (GNP). iii. Under what circumstance will GNP be greater than GDP SEPT 2021 ¢ billion 68 2.7 1.5 CSUC 8
iii. GNP will be greater than GDP when the net factor income from abroad is positive.
How to solvei. To calculate the net factor income from abroad, we need to subtract the factor income paid abroad from the factor income received abroad.
Net factor income from abroad = Factor income received abroad - Factor income paid abroad
Net factor income from abroad = 2.7 - 1.5
Net factor income from abroad = 1.2 billion
ii. Gross National Product (GNP) is the sum of Gross Domestic Product (GDP) and net factor income from abroad.
GNP = GDP + Net factor income from abroad
GNP = 68 + 1.2
GNP = 69.2 billion
iii. GNP will be greater than GDP when the net factor income from abroad is positive.
This way that the country is earning more profit from its expenditures abroad than it is paying to offshore investors the one have investments inside the country. In such a sketch, the income earned experience will increase the GNP of the country.
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3. If Holly increases the selling price by $20, and purchases the new part and the new machine, calculate the new contribution margin , the new fixed cost & the number of units that the company will have to sell to make the same net income as last year. (20 marks).
Notte that if Holly increases the selling price by $20, and purchases the new part and the new machine, the new contribution margin , the new fixed cost & the number of units that the company will have to sell to make the same net income as last year is: 1,333.33 units.
How is this so?Given
Current selling price = $400
Current variable cost per unit = $250
Current contribution margin per unit = selling price - variable cost = $400 - $250 = $150
Current fixed cost = $150,000
Current sales volume = 5,000 units
Current net income = $50,000
New selling price = $400 + $20 = $420
New variable cost per unit = $250 + $80 + $60 = $390
ew contribution margin per unit = selling price - variable cost = $420 - $390 = $30
New fixed cost = $150,000 + $20,000 + $30,000 = $200,000
Net income = (Contribution margin per unit x Sales volume) - Fixed cost
Substituting the values we get:
$50,000 = ($150 x 5,000) - $150,00
Sales volume = ($50,000 + $150,000) / $150 = 1,333.33 units
So the company will have to sell 1,333.33 units at the new selling price of $420 to make the same net income as last year.
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All of the following are elements of New York's best interest standard, EXCEPT:
A) Recommendations to a consumer must be based on an evaluation of the relevant suitability information provided by the consumer.
B) Producer compensation must be in the form of fees, not sales commissions.
C) Only the interests of the consumer can be considered in making a recommendation.
D) Recommendations must reflect a standard of care, skill, prudence, and diligence that a prudent person familiar with the matters would use under similar circumstances.
Option B is entirely correct. Producer compensation must take the form of fees rather than sales commissions.
What is the best interest standard in New York?When recommending or servicing a policy issued in New York, New York Regulation 187 requires producers and insurers to implement a process to ensure they are acting solely in the best interests of the consumer and not in the financial interests of the producer or insurer11 NYCRR 224 (Insurance Regulation 187) amendments will ensure that all proposed to make the retailing of these goods are in the best interests of the consumer. It requires a producer, or insurer in the absence of a producer, to follow a standard of conduct that will be enforced by the superintendent, but it does not guarantee or ensure compliance.
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Which social responsibility stance below did the business owner demonstrate?
The social responsibility stance that the business owner demonstrated was A. Proactive .
What is a proactive stance ?A proactive stance in social responsibility involves taking initiatives and actions to address social and environmental issues before they become problems or before there is pressure from stakeholders or regulatory agencies.
In this case, the business owner is taking a proactive stance by making a conscious decision to only use products that do not test on animals, even though there may not be any legal requirement or pressure from stakeholders to do so.
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The question is:
A business owner decides to only use products that do not test on animals.
Which social responsibility stance below did the business owner demonstrate?
A. Proactive
B. Defensive
C. Neutral