The practice that is not a modification of the classical economic model is philanthropy. The correct option is a.
Philanthropy is not a modification of the classical economic model because it is not a part of the classical economic model.
Philanthropy is the practice of giving money or other forms of aid to individuals or organizations that are in need or that are involved in activities that are considered to be beneficial to society.
Philanthropy is not a part of the classical economic model because it is not based on the principles of supply and demand, and it is not a part of the free market system.
Owner control is a modification of the classical economic model because it involves the owner of a business having control over the production and distribution of goods and services.
This is different from the classical economic model, which is based on the idea of competition between producers and consumers.
Community obligations are a modification of the classical economic model because they involve businesses taking responsibility for the impact of their activities on the local community.
This is different from the classical economic model, which is based on the idea of businesses maximizing profits without taking into account the impact of their activities on the local community.
Paternalism is a modification of the classical economic model because it involves businesses taking a paternalistic approach to their employees, which means that they provide them with benefits and services that go beyond what is required by law.
This is different from the classical economic model, which is based on the idea of businesses maximizing profits without taking into account the welfare of their employees.
In conclusion, philanthropy is not a modification of the classical economic model, while owner control, community obligations, and paternalism are all modifications of the classical economic model.
Therefore, option a is the correct answer.
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if a $50 billion initial increase in spending leads to a $250 billion change in real gdp, how big is the multiplier?
The multiplier for this increase in spending is 5, which means for every $1 increase in spending, the real GDP increases by $5.
An initial increase in spending increases income which increases consumption. This creates a snowball effect, and each time a dollar is spent, it generates an additional four dollars in additional spending.
This increase in spending is what leads to an increase in GDP, and the multiplier is used to determine the effect of an initial increase in spending on the overall level of economic activity.
In this case, an initial $50 billion increase in spending led to a $250 billion change in real GDP, giving a multiplier of 5, this is calculated as:
M = $250 billion / $50 billion
M = 5
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stock has a beta of 1.10, the expected return on the market is 12 percent, and the risk-free rate is 3.6 percent. what must the expected return on this stock be?
The expected return on the stock is 12.84%. The expected return on a stock is an important factor that investors consider while making investment decisions.
The expected return on the stock is calculated using the Capital Asset Pricing Model (CAPM) formula:
Ke = Rf + Beta * (Rm - Rf)Where Ke is the expected return on the stock, Rf is the risk-free rate, Beta is the stock's beta, and Rm is the expected return on the market.
Plugging in the given values, we get:
Ke = 0.036 + 1.10*(0.12 - 0.036) Ke = 0.036 + 1.10*0.084 Ke = 0.036 + 0.0924 Ke = 0.1284 or 12.84%.Therefore, the expected return on the stock is 12.84%.
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which of the following is true of product lines? they mandate a separate marketing strategy for each line. they provide economies of scale in advertising. they involve greater transportation and warehousing costs than product items. they help distinguish each version of a product from the others offered by a company.
Product lines are differentiated and distinct groups of items, product categories, or services made or provided by a single company. These product lines are what consumers recognize and think of when they think of a company. Product lines help to distinguish each version of a product from the others offered by a company. The correct option is: They help distinguish each version of a product from the others offered by a company.
Explanation:
The term "product line" refers to a group of comparable products or services made or offered by the same company. A product line is often made up of numerous different products or services that are all marketed under a single brand name. In most situations, each product line is tailored to a certain market or group of consumers. A product line is used by businesses to make it easier for consumers to understand what they offer and to distinguish their products from those of their competitors.
In addition to assisting customers in making better purchasing decisions, product lines can also help companies develop more efficient advertising strategies. By grouping their products or services, businesses can save money on advertising and focus on marketing their product lines to consumers. These economies of scale can lead to a company's greater marketing efficiency. However, they mandate a separate marketing strategy for each line, not provide.
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cash flow 19,000 11,300 10,200 6,700 what is the profitability index for the set of cash flows if the relevant discount rate is 11%
The profitability index for the set of cash flows given with a discount rate of 11% is 1.33.
The profitability index is a financial measure used to calculate the return on investment of a given project or asset. It is calculated by dividing the present value of all future cash flows of a project by the initial investment. In this case, the initial investment is 19,000.
To calculate the present value of future cash flows, we need to discount each of the future cash flows at the 11% discount rate. The discounted cash flows are 10,286, 9,493, 8,765 and 6,282 respectively.
When added together, these cash flows total to 34,826. Dividing this amount by the initial investment of 19,000, the profitability index is 1.33.
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how can crews be used in the estimation of labor? how does this compare with using individual workers?
Crews can be used in the estimation of labor in order to determine how many workers are required for a given task, and to ensure that the work is completed efficiently and effectively. This approach is generally more efficient than using individual workers because it allows for better coordination and communication, and can help to avoid errors and delays that may result from working alone.
Additionally, crews are typically able to complete work faster than individual workers because they can divide the labor and work simultaneously on different aspects of a project.
In terms of estimating labor costs, crews can be more cost-effective than using individual workers because they can typically work more efficiently, which means that they can complete more work in less time. This can translate into lower labor costs overall, particularly when large-scale projects are involved. However, the size and composition of the crew will depend on the specific needs of the project, as well as the skills and experience of the individual workers involved.
Ultimately, the use of crews versus individual workers will depend on a number of factors, including the size and complexity of the project, the availability of skilled labor, and the overall cost and timeline of the project.
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an amount of $9,000 is to be received in a lump sum (i.e. the entire amount: $9,000) three years from now. if the discount rate is 4 percent, the present value of this lump-sum payment is (rounded to the nearest whole number):
The present value of this lump-sum payment is $7,926.
The present value of the $9,000 lump sum payment three years from now, given a discount rate of 4% is calculated using the formula:
PV = FV / (1 + r)^n,
where PV is the present value, FV is the future value, r is the discount rate, and n is the number of years.
In this case, FV = $9,000, r = 4% = 0.04, and n = 3 years
Plugging the given values in the formula, we get:
PV = $9,000 / (1 + 0.04) ^ 3 = $7,925.87
When rounded to the nearest whole number, PV= $7,926
Therefore, the present value of this lump-sum payment is $7,926 (rounded to the nearest whole number).
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which of the following generic competitive strategies would a producer of commodity such as steel most likely pursue? broad low cost exclusive dealing broad differentiation horizontal integration focus differentiation
A producer of a commodity such as steel would most likely pursue the broad low-cost generic competitive strategy.
Generic competitive strategies refer to the strategic decisions of an organization in order to achieve a competitive advantage over its rivals. Organizations utilize generic competitive strategies to build a sustainable competitive advantage by exploiting the weaknesses of their competitors in order to boost their market position.
The four most commonly utilized generic competitive strategies are: Cost leadership Broad differentiation Narrow focus Cost leadership and differentiation. The choice of generic strategy is determined by the industry's structural characteristics such as the industry life cycle stage, the level of product differentiation, the intensity of competition, the firm's resources, and the firm's position within the industry. The most appropriate strategy for a commodity producer like steel would be cost leadership.
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16 16 16 determine the present value of the following single amounts. note: use tables, excel, or a financial calculator. round your final answers to nearest whole dollar amount.
The given problem is a simple Present Value (PV) calculation. To solve the problem, we will be using the formula for the Present Value (PV) of a single amount, which is:
PV = (FV)/(1 + r)n
Where,
FV = Future Value
r = Interest rate per period
n = Number of periods
PV = Present Value
Given data:
The future value (FV) of a single amount is $16.
We need to calculate the present value (PV) of a single amount.
Solution:
The formula to calculate the Present Value (PV) of a single amount is as follows:
PV = FV/(1 + r)n
Since we do not know the interest rate (r) or the number of periods (n), we will assume that the rate is 10% and the period is 1.
Substituting the values in the formula, we get:
PV = FV/(1 + r)n
PV = $16/(1 + 0.1)1
PV = $14.55 (rounded to the nearest dollar)
Therefore, the Present Value of $16 is $14 when the interest rate is 10% and the period is 1.
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many companies pursue an integrated cost leadership/differentiation strategy, working to lower cost structures while also enhancing their products and services. to successfully pursue this strategy, companies could:
To successfully pursue an integrated cost leadership/differentiation strategy, companies should focus on four key areas: improving operational efficiency, capitalizing on economies of scale, reducing product/service costs, and building a strong customer service reputation.
Improving operational efficiency involves streamlining processes, identifying and eliminating wasteful spending, and employing technology and automation to maximize efficiency. Companies can also capitalize on economies of scale by producing large quantities of goods at lower costs, providing additional savings.
In addition, companies should look for ways to reduce product/service costs, such as through lowering material costs, finding cheaper sources of labor, or cutting overhead costs. Finally, companies should strive to build a strong customer service reputation, focusing on providing a positive customer experience and developing customer loyalty.
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the beginning balance in a checking account is $64.98. after a deposit of $73.87, what is the balance? responses $138.85 $138.85 $73.87 $73.87 $64.98 $64.98 $8.89
A checking account has a starting amount of $64.98. The total is $138.85 after a deposit of $73.87.
What is a checking account?You might find what you need in a bank account. It is a bank account that is used for routine deposits and withdrawals, including making deposits, taking withdrawals, and exchanging cash for a debit card.
Savings accounts and checking accounts are two different places to keep your money for daily expenses. To gain access to the funds in associated accounts, use debit cards to make ATM withdrawals and point-of-sale expenditures. There is typically no limit on how much money you can have in a bank account.
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Answer these question p2
P1 is the equilibrium price, and 125 is the equilibrium quantity. The quantity will change from 125 to 225 when the price moves from P1 to P3.
What factors influence equilibrium price and quantity when supply and demand are present?The price at which an equilibrium is attained depends on the connection between supply and demand. Prices often revert to this equilibrium until specific supply or demand conditions alter. The equilibrium price will change if supply or demand change as a result of one, both, or neither.
What alters the equilibrium amount and price as supply increases?When the supply of goods and services grows while the demand for those goods and services remains constant, prices frequently decrease to a lower equilibrium price and a bigger equilibrium quantity of those goods and services.
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fix-it-quik, inc., offers gina a job as a plumber. no time for acceptance is specified in the offer. the offer will terminate
Fix-it-Quik, Inc. offered Gina a job as a plumber. There was no time specified in the offer for her to accept it, so the offer will terminate if she does not accept it within a reasonable time. Generally, an offer should be accepted within a few days, unless otherwise specified.
Automatically after a reasonable length of time. A job offer is a document that outlines the terms and conditions of a job that a company is willing to provide to an employee. A job offer letter typically includes a brief job-summary, as well as information on the hiring company, benefits, and compensation.
It will be concluded with an acceptance deadline. It must be accepted within a certain amount of time. Furthermore, the offer may be withdrawn or expired. In the case of an indefinite time, the offer will end automatically after a reasonable period of time.
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in 3 hours, the u.s. can produce 9 bottles of milk. in 7 hours, the u.s. can produce 28 barrels of oil. what is the opportunity cost of producing 1 barrel of oil (in terms of bottles of milk)? round your answer to two decimals.
in 3 hours, the u.s. can produce 9 bottles of milk. in 7 hours, the u.s. can produce 28 barrels of oil. Then, the opportunity cost of producing 1 barrel of oil (in terms of bottles of milk) is 0.75.
Here given that in 3 hours, the u.s. can produce 9 bottles of milk. in 7 hours, the u.s. can produce 28 barrels of oil.
9 bottles / 3 hours = 3 bottles of milk per hour
Therefore, in 7 hours, the U.S. could produce:
3 bottles/hour ×7 hours = 21 bottles of milk
Now one can calculate the opportunity cost:
Opportunity cost of 1 barrel of oil = 21 bottles of milk / 28 barrels of oil
Opportunity cost of 1 barrel of oil ≈ 0.75 bottles of milk (rounded to two decimal places)
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Assume Gerbilia's marginal propensity to save (MPS) is 0.3. By how much will household consumption increase as a result of an increase in disposable incomes of $2000?
Household consumption will increase by $1400 with a marginal propensity to save of 0.3 and an increase in disposable incomes of $2000.
The marginal propensity to save (MPS) is the fraction of an increase in disposable income that is saved rather than spent on consumption. In this case, with an MPS of 0.3, it means that for every additional dollar of disposable income, Gerbilia will save 30 cents and spend 70 cents.
Therefore, with a $2000 increase in disposable income, Gerbilia will save $600 (0.3 x $2000) and spend $1400 (0.7 x $2000) on consumption, resulting in an increase in household consumption of $1400.
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according to north carolina rule on disclosure a life insurance applicant is expected to be provided with
In North Carolina, the rule on disclosure requires that life insurance applicants be provided with certain information before they make a decision about purchasing a policy.
Specifically, insurance companies are required to disclose any material facts that could affect the applicant's decision to purchase the policy or affect the terms of coverage.
Material facts refer to information that is relevant and important to the applicant's decision-making process, such as the policy's terms, limitations, exclusions, and any potential risks or hazards associated with the policy.
For example, if the policy contains a provision that excludes coverage for a certain medical condition, the insurance company must disclose this information to the applicant.
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Organizing information in ____ provides emphasis by making items stand out.
"Organizing information in vertical lists provides emphasis by making items stand out."
Organizing information in vertical lists is a popular and effective way to draw attention to important items. The vertical format allows each item in the list to be displayed in a separate line, which makes it easier for readers to scan and identify key information quickly.
Additionally, vertical lists are often used to group related items together, which can help to highlight similarities and differences between them. Whether you are creating a shopping list, a to-do list, or a list of key points in a presentation, using a vertical format can help to emphasize important information and ensure that it stands out to your audience.
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"resources are arranged sequentially according to the steps needed to make a product"
is the meaning of?
The meaning of "resources are arranged sequentially according to the steps needed to make a product" is that the resources are organized in a particular order based on the steps required to create a product. This is known as a production process.
Resources refer to all the materials, equipment, labor, and knowledge required to produce goods and services. These resources are critical to the production process, and they are divided into various categories. The categories include natural resources, human resources, and physical resources.
These resources can be utilized in different ways to produce goods and services. A production process is a series of steps taken in a specific order to manufacture a product. Each step of the production process is critical and must be completed before moving on to the next stage. In a production process, resources are organized sequentially according to the steps needed to make a product. This ensures that the resources are used efficiently and effectively to create the desired product.]
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allison has returned to school after five years out of the work force. she is taking one course at the local university for a cost of $1,420. to minimize her taxes, should she take a tuition and fees deduction or an education credit? (assume a 15 percent tax rate.) (assume the education credit will equal the entire cost of the course.)
Allison should take an education credit to minimize her taxes because the education credit reduces the taxes directly. However, the tuition and fees deduction reduces the taxable income amount by the course cost.
In Allison's case, the tuition and fees deduction will only decrease her taxable income by $1,420. However, she'll save only 15 percent on the $1,420 as that is her tax rate, so she'll only save $213.
In comparison, the education credit, as mentioned, is equal to the course's entire cost, i.e., $1,420. Hence, the education credit is the better option in Allison's case.
What is an education credit?
An education credit is a dollar-for-dollar reduction in the amount of tax you owe. The education credit directly reduces the tax liability, unlike deductions, which lower the amount of taxable income. The American Opportunity Credit and the Lifetime Learning Credit are two of the most common education credits.
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which corporate report discusses subjects that include environmental, health and safety, philanthropic and other social impacts
The Corporate Social Responsibility (CSR) Report is a corporate report that discusses subjects that include environmental, health and safety, philanthropic, and other social impacts.
What is a sustainability report?
A sustainability report is a corporate report that demonstrates an organization's economic, environmental, and social performance. These reports enable organizations to identify and communicate sustainability performance internally and externally.
Sustainability reporting can also provide crucial input for making decisions and developing a strategy that meets the objectives of sustainable development
The corporate report that discusses subjects that include environmental, health and safety, philanthropic, and other social impacts is called the sustainability report. Sustainability reporting enables organizations to identify and communicate sustainability performance internally and externally.
The corporate report that discusses subjects that include environmental, health and safety, philanthropic, and other social impacts is called the sustainability report.
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true or false: it is mandatory for the actual use of a trademark to occur after the patent and trademark office (pto) registers the mark.
Answer:
No.
explanation:
You are not required to use a trademark symbol every time you use a trademark. Instead, you can usually focus on using the symbol the first time the mark appears, in the most prominent place the mark is used (e.g., in a heading), or both.
which statements are true about leading economic indicators? check all that apply: the lead time for troughs is consistently longer than that for peaks. the index of consumer expectations is a leading indicator. the stock market price index is a leading indicator. the money supply growth rate is a leading indicator. leading economic indicators are economic series that tend to rise or fall in advance of the rest of the economy.
The following statements are true about leading economic indicators:
The index of consumer expectations is a leading indicator.The stock market price index is a leading indicator.The index of consumer expectations is a leading indicator.The stock market price index is a leading indicator.The money supply growth rate is a leading indicator. Leading economic indicators are economic series that tend to rise or fall in advance of the rest of the economy.
These are the correct options from the question: the index of consumer expectations is a leading indicator, the stock market price index is a leading indicator, the money supply growth rate is a leading indicator, leading economic indicators are economic series that tend to rise or fall in advance of the rest of the economy. Let us take a look at each of them below:Index of consumer expectations.The index of consumer expectations (ICE) is a leading indicator that predicts the future direction of customer attitudes and expenditures.
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true or false: the coupon rate of a treasury inflation protection security will adjust at a rate consistent with the rate of inflation.
Answer:
True
Explanation:
you need to have $30,000 in 20 years. you can earn an annual interest rate of 3 percent for the first 6 years, 3.6 percent for the next 5 years, and 4.3 percent for the final 9 years. how much do you have to deposit today?
You have to deposit $13,704.83 today to have $30,000 in 20 years.
We can use the formula for present value of a future sum of money with multiple interest rates:
PV = FVn / (1+r1)ⁿ¹ * (1+r2)ⁿ² * ... * (1+rn)ⁿⁿ
Where PV is the present value, FVn is the future value, r1-rn are the interest rates for the respective time periods, and n1-nn are the number of periods for each interest rate.
In this case, we have:
FV20 = $30,000
r1 = 0.03
n1 = 6
r2 = 0.036
n2 = 5
r3 = 0.043
n3 = 9
Plugging in the values:
PV = $30,000 / (1+0.03)⁶ * (1+0.036)⁵ * (1+0.043)⁹
PV = $30,000 / (1.19102) * (1.21408) * (1.54673)
PV = $13,704.83
Therefore, you would need to deposit $13,704.83 today to have $30,000 in 20 years, given the specified interest rates.
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28.which time series technique predicts a future value by combining the previous prediction and some portion of the error in that prediction?
The time series technique that predicts a future value by combining the previous prediction and some portion of the error in that prediction is known as the exponential smoothing method.
Exponential smoothing is a time series forecasting method that uses a weighted average of past observations to forecast future values. The technique assigns more weight to recent observations and less weight to older observations.
The main idea behind exponential smoothing is that the most recent observations should be given more weight in forecasting future values because they are more relevant. The technique relies on three parameters: alpha, beta, and gamma.
Alpha is the smoothing parameter for the level, beta is the smoothing parameter for the trend, and gamma is the smoothing parameter for the seasonality.Exponential smoothing is particularly effective for data sets with no clear trend or seasonality, such as sales data or demand data.It is a simple method that requires very little data preparation and is easy to understand and implement.
According to this technique, a future value is predicted by combining the previous prediction and some portion of the error in that prediction. The method is designed to reduce the impact of random fluctuations in the data and provide a more accurate forecast.
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the journal entry to record the payment for merchandise previously purchased on account will cause stockholders' equity to .
The journal entry to record the payment for merchandise previously purchased on account will cause stockholders' equity to remain unchanged.
What is the Journal Entry?The journal entry to record the payment for merchandise previously purchased on account is as follows:DateAccount TitleDebitCreditXX/XX/XXXXAccounts PayableXXXXCashXXXXThis journal entry reflects that a company is paying off its accounts payable (liabilities) to a vendor. Since accounts payable are part of the liability component of the balance sheet and not the equity component, the payment of accounts payable will not alter the equity component (stockholders' equity).What is Stockholders' Equity?The residual interest in the assets of a company after deducting liabilities is referred to as stockholders' equity.
It is the total sum of a company's common stock, additional paid-in capital, and retained earnings. Stockholders' equity is reported on the balance sheet and represents a company's net worth. A company's stockholders' equity is not affected by the payment of accounts payable as accounts payable falls under the liability section of the balance sheet.
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what documentation should you request from donna to confirm the amount of her charitable contribution deduction?
Donna should provide documentation, such as receipts or a bank statement, that verifies the amount of her charitable contribution deduction.
What documentation should you request to confirm the amount of charitable contribution deduction?Asking for written confirmation from Donna is essential to ensure that the right amount of charitable contribution deduction is provided.
documentation that you should request from Donna to confirm the amount of her charitable contribution deduction is as follows:
-Receipts of Donation: Donna should provide you with a written acknowledgment of the donation. This should contain the name of the organization and the amount of money or the description of the property that she gave.
-Keep a record of all charitable donations that are over $250.00. This record must be written, and it should include the date of the donation, the type of property or cash donated, and the amount of the donation.
-Bank Statements: You should request that Donna provides bank statements that clearly show the payments to the charities. These will help you to know the exact amount of her contributions for the year.
-Payroll Deductions: If Donna gave charitable contributions through payroll deductions, it is important to obtain her W-2 form for the year as evidence that the contributions were made.
The W-2 form will show the total amount of contributions that she made through payroll throughout the year.These are the documents that you should request from Donna to confirm the amount of her charitable contribution deduction. It is important that you have this documentation so that you can prepare her tax return correctly.
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stephanie's car was crushed by a falling tree in her driveway. which part of her automobile coverage will pay for her claim?
Stephanie's car was crushed by a falling tree in her driveway. The part of her automobile coverage that will pay for her claim is comprehensive coverage.
What is comprehensive coverage?
Comprehensive coverage is an automobile insurance policy coverage that protects policyholders against damage to their vehicle that is not caused by a collision. This coverage covers damages caused by theft, falling objects, natural disasters, vandalism, and other similar incidents.Most comprehensive policies have a deductible, which is the amount the policyholder is required to pay out of pocket before the insurance company begins paying for repairs or replacement.Comprehensive coverage is typically optional, but it may be necessary if the vehicle is expensive or if the policyholder is in an area with high rates of theft or natural disasters. A policyholder may also be required to have comprehensive coverage if they have a loan or lease on the vehicle.Stephanie's automobile policy's comprehensive coverage would be responsible for paying for the damage caused by the falling tree.
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Decisions for products used by organizations usually made by purchasing agents and for which the purchase order may simply be placed with existing vendors that usually supplies these products is the straight rebuy.
true
false
Purchasing agents usually make choices for products used by organizations, and the purchase order can be placed with existing vendors who typically supply these items.
The straight rebuy refers to the practice of purchasing agents making decisions for products used by organizations, and the purchase order may simply be placed with existing vendors that usually supplies these products. The straight rebuy is a quick and efficient purchasing decision since it allows firms to keep their business processes running while avoiding the risk of encountering new vendors or products. Therefore, straight rebuy decision-making has become the most popular and frequently used purchasing decision among firms.For search more questions on Purchasing
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The straight rebuy is a common type of purchasing decision made by organizations. It involves the purchase of products that are already in use and for which the organization has established relationships with existing vendors. In this type of decision, purchasing agents are responsible for making the purchase order and typically do not have to go through a complex decision-making process. Instead, they simply place an order with the vendor that regularly supplies the product.
Straight rebuys are common for routine purchases such as office supplies, raw materials, or components needed for production. Because the organization is familiar with the product and vendor, this decision is made quickly and with minimal risk. However, it is important for purchasing agents to periodically review their vendor relationships and ensure they are getting the best value for their purchases. This may involve negotiating better pricing or quality standards, or even considering alternative vendors or products.
what are things economist expect to happen when a price ceiling is implemented for price of apartments
A price ceiling is an economic measure implemented to limit the amount a particular good or service can cost. Economists often expect decreased quantity of apartments, decreased quality of apartments, uneven distribution of rental costs, and a general decline in the rental market when a price ceiling is implemented for the price of apartments.
Firstly, economists anticipate that the quantity of apartments offered for rent will decrease. This is because the price ceiling limits the potential profit of landlords, so many choose to stop renting out their units. This decreased quantity means the demand for apartments will increase, leading to a shortage of apartments.
Secondly, economists expect that the quality of apartments available for rent to decline. Landlords will have less incentive to maintain their apartments if the price ceiling is set too low, leading to a decrease in the quality of the apartments.
Thirdly, economists anticipate that the cost of renting apartments will be distributed unevenly due to price ceiling. This is because wealthier people will be able to outbid less wealthy people for available apartments, leading to those with lower incomes having difficulty accessing affordable housing.
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smith company balance sheet and selected income statement data assets: cash and marketable securities $300,000 accounts receivable 2,215,000 inventories 1,837,500 prepaid expenses 24,000 total current assets $3,286,500 fixed assets 2,700,000 less: accumulated depreciation 1,087,500 net fixed assets $1,612,500 total assets $4,899,000 liabilities: accounts payable $240,000 notes payable 825,000 accrued taxes 42,500 total current liabilities $1,107,000 long-term debt 975,000 owner's equity 2,817,000 total liabilities and owner's equity $4,899,000 net sales (all credit) $6,375,000 less: cost of goods sold 4,312,500 selling and administrative expense 1,387,500 depreciation expense 135,000 interest expense 127,000 earnings before taxes $412,500 income taxes 225,000 net income $187,500 common stock dividends $97,500 change in retained earnings $90,000 based on the information in table 1, the inventory turnover ratio is 2.35 times. 0.43 times. 3.47 times. 0.29 times.
The inventory turnover ratio in this scenario is 0.73 times.
Based on the information in table 1, the inventory turnover ratio is 2.35 times. What is the inventory turnover ratio? The inventory turnover ratio is a liquidity ratio that evaluates a company's capacity to sell inventory quickly. It shows how much times a firm can sell and replace its inventory throughout a specified period. The inventory turnover ratio formula is as follows: Inventory turnover ratio = Cost of goods sold / Average inventory What is the cost of goods sold? Cost of goods sold (COGS) is the accumulated amount spent to produce the goods that have been sold to consumers. This can include costs like direct labor, materials, and manufacturing overhead. Cost of goods sold formula is as follows: Cost of goods sold = Opening stock + Purchases – Closing stock What is the inventory turnover ratio in this scenario? The question has provided the following information: Assets: Cash and marketable securities $300,000Accounts receivable 2,215,000Inventories 1,837,500Prepaid expenses 24,000Total current assets $3,286,500Fixed assets 2,700,000Less: Accumulated depreciation 1,087,500Net fixed assets $1,612,500Total assets $4,899,000Liabilities:Accounts payable $240,000Notes payable 825,000Accrued taxes 42,500Total current liabilities $1,107,000Long-term debt 975,000Owner's equity 2,817,000Total liabilities and owner's equity $4,899,000Net sales (all credit) $6,375,000Less: Cost of goods sold 4,312,500Selling and administrative expense 1,387,500Depreciation expense 135,000Interest expense 127,000Earnings before taxes $412,500Income taxes 225,000Net income $187,500Common stock dividends $97,500Change in retained earnings $90,000The cost of goods sold can be calculated using the information provided: Cost of goods sold = Net sales - Gross profit= 6,375,000 - (4,312,500 + 1,387,500)= 6,375,000 - 5,700,000= 675,000Average inventory = (Beginning inventory + Ending inventory) / 2= (1,837,500 + 0) / 2= 918,750Inventory turnover ratio = Cost of goods sold / Average inventory= 675,000 / 918,750= 0.73 times Therefore, the inventory turnover ratio in this scenario is 0.73 times.
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