Amount of Insurance Needed. Marty and Mary have jobs and contribute to the household expenses according to their income. Marty contributes 75% of the expenses and Mary contributes 25%. Currently, their household expenses are $25,100 annually. Marty and Mary have three children. The youngest child is 12, so they would like to ensure that they could maintain their current standard of living for at least the next eight years. They feel that the insurance proceeds could be invested at 4%. In addition to covering the annual expenses. they would like to make sure that each of their children has $18,857 available for college. If Marty were to die, Mary would go back to school part-time to upgrade her training as a nurse. This would cost $13,771. They have a mortgage on their home with a balance of $46,043. How much life insurance should they purchase for Mary?
The amount of life insurance they should purchase for Mary is $____(Round to the nearest dollar.)
Answers
Marty and Mary should purchase approximately $166,585 of life insurance for Mary to cover their financial obligations and ensure their desired financial protection.
To calculate the amount of life insurance Marty and Mary should purchase for Mary, we need to consider several factors:
1. Annual Household Expenses: The current annual household expenses are $25,100. Since Marty contributes 75% and Mary contributes 25%, we can calculate Mary's portion of the expenses:
Mary's portion = 25% * $25,100 = $6,275
2. Maintaining Current Standard of Living for Eight Years: Marty and Mary want to ensure that they can maintain their current standard of living for at least the next eight years. Therefore, we need to calculate the total expenses for eight years:
Total expenses for eight years = $6,275 * 8 = $50,200
3. College Funds for Children: They want to ensure that each of their three children has $18,857 available for college. So the total college funds needed is:
Total college funds = $18,857 * 3 = $56,571
4. Mary's Education Expenses: If Marty were to die, Mary would go back to school part-time to upgrade her training as a nurse, which would cost $13,771.
5. Mortgage Balance: They have a mortgage on their home with a balance of $46,043.
Now, let's calculate the total amount of life insurance they should purchase for Mary:
Total life insurance needed = Total expenses for eight years + Total college funds + Mary's education expenses + Mortgage balance
Total life insurance needed = $50,200 + $56,571 + $13,771 + $46,043
Total life insurance needed = $166,585
Therefore, Marty and Mary should purchase approximately $166,585 of life insurance for Mary to cover their financial obligations and ensure their desired financial protection.
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Related Questions
The following income relates to a proprietorship registered as a BMBE: Gross income from sales P400,000 Dividend income - domestic corporation 9,000 Interest on bank deposits 6,800 Compute the total exclusion from gross income.A. 415,800
B. 400,000
C. 15,800
D. Zero
Answers
The correct answer is C. 15,800. Under the BMBE law, registered businesses are entitled to certain tax incentives including an income tax exemption for their first Php 150,000 annual income.
In this case, the gross income from sales is Php 400,000, but the first Php 150,000 is exempted, leaving a taxable income of Php 250,000.
Dividend income from the domestic corporation and interest on bank deposits are not covered by the BMBE income tax exemption, so the total exclusion from gross income would only be the Php 150,000 exemption for the gross income from sales.
Therefore, the total exclusion from gross income would be Php 150,000, and the taxable income would be Php 250,000.
Adding the dividend income of Php 9,000 and interest on bank deposits of Php 6,800 to the taxable income of Php 250,000 would give a total gross income of Php 265,800. However, only Php 150,000 is exempted, leaving a taxable income of Php 115,800.
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The Free enterprise system is:
A: Supply & Demand
B: Designed to protect consumers' best interests
C. Requires both sides of the story
D. Free of competition
Answers
Answer:
Free enterprise is the freedom of individuals and businesses to regulation. It enables individuals and businesses to create, produce, are able and willing, enterprising people produce goods and services for produce and sell goods and services. In this system, no one forces people they believe to be best for them.
Teresa is considering purchasing a home for $220,000 by taking out a loan with an interest rate of 4.3% for 30 years. What would her monthly payment be?
Use the monthly payment formula to calculate the monthly payment for this loan:
M =
M = monthly payment
P = principal
r = interest rate
t = number of years
Answers
Answer:
$1,088.144
Explanation:
The applicable formula is as below as derived form annuity concepts.
M = PV × r
1 − (1+r)−n
where p= $220,000
r = 4.3% interest rate per year;
Per month interest rate = 0.043 /12=0.00358
r = 30 year, in months = 30 x 12 =360
Therefore
M= $220,000 x 0.00358
1-(1+0.00358) ^ - 360
M=$220,000 x 0.00358
1 - 0.2762
M = $220,000 x(0.00358 /0.7238
M = $220,000 x 0.00494611
M = $1,088.144
Who is Jake from Statefarm??
Answers
Answer:
my baby daddy.
Explanation:
I forgot to take the pill :(
Answer:
god
Explanation:
jake from state farm is god. *period*
what objects are necessary for the formation of shadows ?
Answers
Answer:
The following three things are required for a shadow to form:
a source of light.
an opaque object.
a screen or surface behind the object.
When Martin reads a story out loud, he stops to emphasize all important words and even makes funny voices to go along with the story. What element of reading fluency is Martin using?
rate
accuracy
speed
expression
Answers
Answer:
It's expression or on edge D
Explanation:
Answer:
D
Explanation:
good luck :)
What is a sales quote?
Answers
Answer:
Explanation:
A sales quote allows a prospective buyer to see the costs that will be involved for desired work.
Which of the following is not something you should be thinking when considering changes in your auto insurance policy?.
Answers
A contract between you and the insurance company to safeguard you against financial loss in the event of an accident or theft is known as auto insurance. The insurance company agrees to cover your losses in accordance with your policy in exchange for your premium payment.
What are the four primary kinds of insurance and coverage?
Life, health, auto, and long-term disability insurance are the four types of insurance that the majority of financial experts recommend.
Should you pay your auto insurance monthly or every six months?
"Covering your vehicle insurance installment at regular intervals will set aside you cash. This could significantly lower your monthly premium, depending on the insurance provider.
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The main purpose of a depository institution is to:
A. hold deposits in accounts and use that money to offer loans.
B. provide guaranteed payments to depositors under specific
conditions.
C. use deposited money to purchase stocks and bonds in order to
make a profit.
D. allow customers to deposit money into accounts at no charge.
SUBMIT
Answers
Answer:
A. hold deposits in accounts and use that money to offer loans.
Explanation:
Depository institutions include commercial banks, credit unions, among others. They provide a safe, secure, and convenient way for customers to save money and a source of credit for households and businesses. Depository institution offers interest on deposits and uses that money to extends loans at a higher interest.
Interest on loans is the main source of revenue for depository institutions. They create loans from customer deposits and facilitate household and business expansion in the economy.
A. hold deposits in accounts and use that money to offer loans.
I really need help pleaseeee
Answers
murnane+and+levy+(1997)+found+that+__________+of+17-year-olds+could+not+read+or+do+math+at+the+level+needed+to+perform+the+types+of+new+jobs+that+are+being+created+today.+50%+35%+20%+5%
Answers
According to a study by Murnane and Levy in 1997, 50% of 17-year-olds were unable to read or do math at the level necessary to perform modern jobs.
The study conducted by Murnane and Levy in 1997 found that a significant proportion of 17-year-olds in the United States lacked the basic literacy and numeracy skills needed to perform the types of jobs that were becoming increasingly prevalent in the modern economy.
Specifically, the study found that 50% of 17-year-olds were unable to read or do math at the level necessary to perform these jobs. This represented a major challenge for the education system and policymakers, who were tasked with ensuring that the workforce had the skills necessary to succeed in the modern economy.
Since then, efforts have been made to improve education and training programs to better prepare students for the types of jobs available in the current job market.
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Under what circumstance would a country have a comparative advantage in
the production of a certain good?
A. It has a lower opportunity cost for production of that good.
B. It has a more highly skilled work force.
C. It has well-developed industrial capacities.
D. It uses an assembly line to produce that good.
Ap3x
Answers
Answer: [A] It has a lower opportunity cost for production of that good.
Explanation: It has a lower opportunity cost for production of that good. Comparative advantage comes when a country gives up less than others to engage in a particular type of production.
Answer:
It has a lower opportunity cost for production of that good.
Explanation:
Colt is single and has an AGI of $225,000. Colt has $400 in interest income, $2,700 in ordinary dividends, and $8,900 in capital gain from the disposition of property. What is Colt’s NIIT?
Answers
The calculation of the net investment income tax (NIIT) is 3.8% of the lesser of net investment income or the excess of modified adjusted gross income (MAGI) over the threshold amount. In this case, Colt's NIIT would be $456.
Assuming that there are no other relevant factors, Colt's net investment income tax (NIIT) can be calculated as follows:
Net Investment Income = Interest Income + Ordinary Dividends + Capital Gains = $400 + $2,700 + $8,900 = $12,000
Modified Adjusted Gross Income (MAGI) = AGI + NIIT = $225,000 + NIIT
NIIT = 3.8% of the lesser of: (1) Colt's Net Investment Income or (2) the excess of Colt's MAGI over the threshold amount, which for a single taxpayer is $200,000.
Since Colt's MAGI is above the threshold, we need to calculate the NIIT using the first option.
NIIT = 3.8% x $12,000 = $456
Therefore, Colt's NIIT is $456.
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Choose a system to simulate for your semester project. This could be one of the ideas we developed in class, or something new (and you can still change it after this stage). Here are some guidelines to choosing a good simulation domain:
The system should include several kinds of components that interact with each other. There should also be some interaction with the human user of the program to direct the course of the simulation.
Some of the components should be variants of a basic category. For example, a traffic simulation could include several type of vehicles (cars, trucks, buses, emergency vehicles), which each behave in different though related ways.
Choose a domain where you already know enough details about how it works that you can imagine writing the required algorithms, at least in broad strokes. For example, don't choose to simulate planets orbiting a sun unless you already know how to do the required physics.
The notion of a simulation is broad enough to include most games (although some games are not complex enough to be interesting simulations). Another potential source of ideas is to simulate a business, such as a bank, a factory, or a store.
The expectations for the semester project will be based on the functional core of the simulation; you may choose to put additional effort into creating a fancy user interface or embellishing the level of detail of the simulation, but I will not penalize you for not doing so.
Write a few sentences describing your domain and the intended scope of the project.
PART 2: DEVELOP USE CASES
For this assignment, develop 3 use cases describing interaction between a user and the simulation. Follow these guidelines when developing your use cases:
Your use cases should include detail on each action taken by the user (ex. entering an address into a text field), any actions taken by the software (ex. executing a robot's move instruction), and any information relayed by the software to the user (ex. a prompt or a confirmation message).
Your use cases should describe different tasks with different goals for the user (and perhaps involve different kinds of user). Avoid writing simple variations of the same task.
Give each use case a concise name, and number each step.
Include one or more variations for each use case which outline how the user and the system interact to recover from an error.
Answers
Domain: Restaurant Simulation Scope of the Project: The restaurant simulation will model the operations of a restaurant, including customer interactions, menu management, order processing, and kitchen operations.
The simulation will allow the user to manage various aspects of the restaurant and make decisions to optimize efficiency, customer satisfaction, and profitability.
Use Case 1: Taking Customer Orders
User selects the "New Order" option from the main menu.
The system prompts the user to enter the table number or customer name for the order.
User enters the table number or customer name.
The system displays the menu options with corresponding prices.
User selects the desired items from the menu.
The system adds the selected items to the order and calculates the total cost.
User confirms the order.
The system generates a ticket and sends it to the kitchen for preparation.
Variation:
If the user enters an incorrect table number or customer name (error), the system displays an error message and allows the user to re-enter the information.
Use Case 2: Managing Inventory
User selects the "Inventory Management" option from the main menu.
The system displays the current inventory levels of ingredients and supplies.
User selects the option to restock a specific item.
The system prompts the user to enter the quantity of the item to be restocked.
User enters the quantity.
The system updates the inventory levels accordingly and displays the updated information.
Variation:
If the user enters an invalid quantity or the item is unavailable (error), the system displays an error message and allows the user to re-enter the information or select a different item.
Use Case 3: Analyzing Sales Performance
User selects the "Sales Analysis" option from the main menu.
The system retrieves sales data from the specified time period.
User selects the type of analysis (e.g., daily, weekly, monthly).
The system generates a report showing total sales, average order value, and popular menu items.
User views the report and can further analyze the data based on specific criteria (e.g., by menu category or customer demographics).
Variation:
If there is no sales data available for the specified time period (error), the system displays an error message and allows the user to select a different time period.
Note: These use cases provide a basic overview of the interactions between the user and the simulation in the context of a restaurant simulation. Depending on the specific requirements and features of the simulation, additional use cases can be developed to cover various scenarios and functionalities.
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Helix Corporation produces prefabricated flooring in a series of steps carried out in production departments. All of the material that is used in the first production department is added at the beginning of processing in that department. Data for May for the first production department follow:
(c) Determine the total cost of ending work in process inventory and the total cost of units transferred to the next process in May.
Answers
The costs per equivalent units (Total Costs / Equivalent units) is $1.57, and for conversion is $0.98.
What is equivalent units of production ?
equivalent units of product are a conception used to understand how important plutocrat incompletely completed products are worth to a company. They're useful for process going , which is the analysis of plutocrat inflow within the manufacturing process. Equivalent units of product( EUP) is the quantum or number in units wherein total costs applicable will be divided to determine the applicable cost of goods vended and ending supplies.This represents the product of a process in terms of equivalent units. In other words, it means converting the uncompleted product into its fellow of completed units. Numerous particulars are in nonstop product, so without some way to calculate original units, it would be delicate to determine how important plutocrat was tied up in product costs. Deficient work must be reckoned for on a regular base so that a value can be placed on the deficient work.Here,
Units transferred to the next production department = 286,000(two eight six, zero zero zero)
Work in process inventory, May 31 (60,000 (40% for Materials, 20% for Conversion)) = 24,000(material), 12,000(conversion)
Equivalent units = 310,000(material), 298,000(conversion)
Cost in work in process inventory, May 1 = 62,400(material), 19,000(conversion)
Cost added during May = $424,300(material), $273,040(conversion)
Total Costs = $486,700(material), $292,040(conversion
Hence, The costs per equivalent units (Total Costs / Equivalent units) is $1.57, and for conversion is $0.98.
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Which company announced it is shutting down its efforts to develop self-driving cars?.
Answers
Ford and VW-backed 'Argo AI', announced it is shutting down its efforts to develop self-driving cars.
The self-driving car technology business "Argo AI," which is supported by Ford and VW, is closing. The company, which was previously heralded as the pioneer of autonomous driving technologies, was unable to draw in further investors and will now see some of its resources taken up by its two largest backers.
Ford spent $1 billion in Argo AI in 2017, hoping that commercial usage of autonomous vehicle technology will be possible by 2021. However, the company's goals appeared to have changed due to the high financial burn and the fact that technology was still "a long way off." Ford CEO Jim Farley
The L3 BlueCruise System will be put into use by Motor Company, which also stated that there is "potential for drawing revenue streams related to L3".
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Stanford University tells students that they will "Grasp the forces driving the change," while students at Ryerson University are attracted by "Wisdom. Applied." What are these slogans used for?
Answers
Answer:
Element of culture
Explanation:
Culture is a broad term that is often used in sociology to describe a combination of suggestions, customs, and social behavior of a particular individual or society. The elements of culture include the following: symbols, language, standards, significances, etc
Hence, in the situation, the correct answer is that these slogans are used for the Element of Culture.
Data processing activities may be classified in terms of three stages or processes: input, processing, and output. An activity that is not normally associated with the input stage is:
Answers
An activity that is not normally associated with the input stage is processing. Processing typically involves the manipulation, calculation, or transformation of data that has already been input into a system.
The input stage, on the other hand, involves the collection, capture, or acquisition of data from various sources, such as sensors, keyboards, or scanners, and the conversion of that data into a format that can be processed by a computer system. Some activities that may be associated with the input stage include data entry, data capture, data conversion, and data validation.
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What is the journal entry for “bought good for cash from m/s rupa traders”
Answers
Answer:
see below
Explanation:
The action of buying goods from r/s rupa increase inventory/purchases ( asset account) and reduces cash( asset) in the business.
An increase in assets account is debited, while a decrease is credited. The journal entry will be
Purchases a/c Dr
Cash a/c Cr
The invisible bar that separates women and minorities from top leadership jobs is called? ethnocentrism power distance the glass ceiling uncertainty avoidance
Answers
The glass ceiling is a metaphorical concept that represents the intangible barriers that prevent women and minorities from reaching top leadership positions in organizations. The correct answer is C).
It refers to the systemic and often subconscious biases, stereotypes, and discrimination that restrict their career progression. Despite advancements in diversity and inclusion efforts, the glass ceiling persists, limiting opportunities for these individuals to break through and occupy positions of power and influence.
Factors contributing to the glass ceiling include gender and racial biases, lack of representation in decision-making roles, limited access to networks and mentorship, and unequal access to development and advancement opportunities.
Overcoming the glass ceiling requires addressing and challenging these barriers through inclusive policies, diversity initiatives, and creating a supportive and equitable work environment.
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--The given question is incomplete, the complete question is given below " The invisible bar that separates women and minorities from top leadership jobs is called?
a, ethnocentrism
b, power distance
c, the glass ceiling
d, uncertainty
e, avoidance "--
According to the video, what are some decisions that Architects make? Check all that apply. how much money a building will be worth when finished what traffic patterns people will follow how people will feel when they enter or leave a building how many laborers are needed for a project where to put doors, walls, and windows what building materials to use which people will be allowed to enter a building
Answers
Answer:
2,3,5,6
Explanation:
Answer:
other guy is correct
Explanation:
uppose Warner Music and UMG are in a duopoly and currently limit themselves to 10 new artists per year. One artist sells 2 million songs at $1.25 per song. However, each label is capable of signing 20 artists per year. If one label increases the number of artists to 20 and the other stays the same, the price per song drops to $0.75, and each artist sells 3 million songs. If both labels increase the number of artists to 20, the price per song drops to $0.30. and each artist sells 4 million songs. Fill in the revenue payoffs for each scenario in the table above. If this game is played once, each producer will sign artists, and the price of a song will be $ If this game is played every year, each producer will sign artists, and the price of a song will be $
Answers
It is one of the "big three" recording firms and the third-largest in the world's music market, after Sony Music Entertainment and Universal Music Group (UMG) (SME).
What is Warner Music?
The company's frontline record label family consists of Warner Records (Neil Young, NLE Choppa), Elektra Music Group (Tones & I, Panic! At The Disco), and Atlantic Records (home to Ed Sheeran, Cardi B, Bruno Mars, Twenty One Pilots, and many more).
The music publishing division of Warner Music Group, which is home to artists like Ed Sheeran, Cardi B, and Bruno Mars, announced greater fiscal fourth-quarter revenue and net income on Tuesday.
Elektra Records, Reprise Records, Warner Records, Parlophone Records (previously owned by EMI), and Atlantic Records are just a few of the biggest and most successful labels owned and run by the firm.
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Economists typically rely on a broader measure of international trade known as the ____________, which includes ____________.
Answers
This is all apart of one question I promise. This is for a Marketing Class. Answer each separately please.
Describe some ways in which Zappos uses digital media tools. How does Zappos encourage word-of-mouth marketing through digital media? How does Zappos use digital media to create an authentic relationship with consumers?
Answers
Zappos, an online retailer known for its customer-centric approach, effectively utilizes various digital media tools to enhance its marketing efforts.
Zappos is an online retailer that has become synonymous with exceptional customer service and a customer-centric approach. Founded in 1999, Zappos has built a reputation for providing a wide range of products, with a particular focus on footwear and apparel. However, what truly sets Zappos apart is its commitment to creating an exceptional customer experience. From its hassle-free return policy to its 24/7 customer service, Zappos goes above and beyond to ensure customer satisfaction.
The company's success can be attributed to its core values of delivering happiness, fostering a positive company culture, and embracing innovation. Zappos has become a prime example of how a strong customer focus can lead to long-term success in the online retail industry.
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Steven manages a team responsible for opening new restaurants of a large, fast-food chain. His team goal is to open eight restaurants in four months' time, and he's mapped out a plan for breaking this goal into actual tasks and projects. As Steven's mentor, what advice do you give him for managing obstacles that might disrupt his progress?
Answers
Answer:
divide all of the current obstacles by the level of urgency and take it one step at a time
Explanation:
When making any sort of plans there will always be unexpected obstacles that prevent/disrupt you from making progress. In these situations, the best advice would be to divide all of the current obstacles by the level of urgency and take it one step at a time. If you try to solve all the problems at once you will get overwhelmed and stressed out. Instead solve one at a time, focusing on the more urgent problems first.
Which sequence of HACCP principles is in the correct order?
A.
Establish critical limits for each CCP, conduct a hazard analysis, and establish corrective actions.
B.
Conduct a hazard analysis, identify CCPs, and establish critical limits for each CCP.
C.
Establish record-keeping procedures, establish corrective actions, and establish CCP monitoring requirements.
D.
Establish CCP monitoring requirements, conduct a hazard analysis, and identify CCPs.
E.
Conduct a hazard analysis, identify CCPs, and establish CCP monitoring requirements.
Answers
Answer:
B
Explanation:
Hazard analysis of critical control point (HACCP) is a process of identifying and assessing risks alongside the biological , physical and chemical hazards associated with food production .
The sequence of the first three of the seven principles are
1. Conduct hazard analysis to determine potential risks related to food protection
2. Identify the critical control point (CCP) which addresses controlling identified hazards that are mostly likely to cause injury to health
3. Establishing critical limits for each CCP , which is the highest or lowest level a biological ,physical or chemical parameter must be controlled to prevent or minimize hazards.
Answer:
B. Conduct a hazard analysis, identify CCPs, and establish critical limits for each CCP
Explanation:
is increasing price the only viable pricing strategy, or could lower prices lead to increased orders beyond the bistro's bep?
Answers
We can lower the prices as a viable pricing strategy to increase orders on the Bistro's BEP. = We can lower the prices as a viable pricing strategy to increase orders on the Bistro 's BEP. A transaction or investment's breakeven point (break-even price) is found by comparing the market price of an item to the original cost.
The breakeven point is reached when the two values are equal. Pricing Fixed Costs x Break-Even Point BEP (Units) (Revenue per Unit – Variable Cost per Unit) When calculating a break-even point in terms of sales dollars: Subtract the fixed costs from the contribution margin.
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what did antonie van leeuwenhoek call his discovery
Answers
Answer:
Antonie Van Leeuwenhoek called his discovery "wee animalcules"
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Mr. Davidson owns a development company that has built waterparks in several dozen cities. He took out a loan for $500,000 to develop a waterpark in his hometown in florida. He made this decision based on reports that several new businesses were going to open there, including a new automobile manufacturing facility. Halfway through the construction of the waterpark, the automobile manufacturer decided to location elsewhere causing a severe economic downturn in his community. How will this economic problem affect mr. Davidson's requirement to repay the loan?
Answers
Mr. Davidson's requirement to repay the loan for the development of the waterpark in his hometown in Florida will not be affected by the economic downturn caused by the automobile manufacturer's decision to locate elsewhere.
This is because loans are legal contracts that are binding and must be repaid regardless of any unforeseen circumstances that may arise during the course of the loan. The loan agreement likely includes provisions for default and late payments, and Mr. Davidson may face financial penalties or even legal action if he is unable to repay the loan on time. Mr. Davidson may be able to negotiate with the lender to restructure the loan terms to better suit his financial situation in light of the economic downturn. For example, he may be able to negotiate a longer repayment period, lower interest rates, or smaller monthly payments. It is important for Mr. Davidson to communicate openly with the lender and provide a clear explanation of the economic situation in his community.
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Among the key management skills, which do you think is the most important skill that a manager should possess?
Answers
Answer:
Good communication
Explanation:
Having good communication skills is probably the most important skill of all for managers to have. Unless you can properly communicate with those you supervise, the rest of the skills really won't matter.