Discuss how you will use the "8-Step process to critical thinking" in your personal and professional life. Provide examples to support your answers.

Answer:

B.

Explanation:

Starting your own business requires a separate, unique set of skills and will ask you to Evolve as a professional.

A. question

B. evolve

C. retract

D. separate

Answer: B

Explanation: just did this question and got it right

The given statement 1,2,3,6,7 and 9 are false statement and 4,5,8 and 10 are true statement.

An organization is consists group of people who work together, like an association, a charity, a union, or a corporation.

1. Internal Forces refers to set of elements which affects organization's or firm's behavior. It is false statement because today's organizational behavior is influenced by a complicated mix of major influences. People, Structure, Technology, and Environment are the four categories of important factors. People, structure, and technology interact, and these factors are impacted by the environment.

2. External Forces is unpredictable and uncontrollable. It is false statement because it is possible to predict economic trends using forecasted data.

3. Poor corporate image is a strength of the firm. It is false because when the corporate image is weak or poor, it affects the customers perception of not just the company but it's products as well. Hence, deflecting demand for their goods an services.

4. Money is the lifeblood of every business. It is True  statement

5. Customers are the king of the market. It is true statement.

6. Demographic aspects are the characteristics of the people in which the organization can be found. It is false statement because demography is the scientific survey of populations, particularly human populations. Demographic analysis may be used to entire societies or groupings based on factors such as education, nationality, religion, and ethnicity.

7. Macro and micro environment are types of internal environment. it is false because Macro relates to external while micro relates to internal.

8. Technological includes the use of robots and online commerce, it is true.

9. Improper plans and policies help the firm to accomplish its objectives it is false because a bad plan cannot possibly lead to a good plan. Hence, improper plans and policies can not help the firm to accomplish its objectives.

10. Socio-cultural are the characteristics of the population of a certain place.​ It is the true statement.

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Answer:

All-A-Buzz Company

a. The products that should processed beyond the split-off point are Honey jam and Honey syrup.

b. Allocation of Joint Cost

                                     Honey butter  Honey jam   Honey syrup  Joint Cost

Units produced                  $71,535       $143,071          $7,154      $221,760

Weight                             $109,850      $109,850        $2,060      $221,760

Sales value at split-off       $51,874      $165,996        $3,890      $221,760

Explanation:

a) Data and Calculations:

Joint cost for the year = $221,760

                                                         Per Unit       Incremental

                       Units of   Weight  Selling Price     Processing     Final Sales

Product           Output                   at Split-Off              Cost             Price

Honey butter  18,000      16               4.00                $3.00              $6.00

Honey jam     36,000        8               6.40                  4.00               14.00

Honey syrup     1,800        3               3.00                  0.40                3.60    

Total              55,800

Cost based on units = $3.97

Units produced:

Honey butter = $71,535 ($221,760 * 18,000/55,800)

Honey jam = $143,071 ($221,760 * 36,000/55,800)

Honey syrup = $7,154 ($221,760 * 1,800/55,800)

Weight:

Honey butter = 288,000 (18,000 * 16)

Honey jam = 288,000 (36,000 * 8)

Honey syrup = 5,400 (1,800 * 3)

Total weight = 581,400

Honey butter = $109,850 ($221,760 * 288,000/581,400)

Honey jam = $109,850 ($221,760 * 288,000/581,400)

Honey syrup = $2,060 ($221,760 * 5,400/581,400)

Sales value at split-off:

Honey butter = $72,000 (18,000 * $4.00)

Honey jam = $230,400 (36,000 * $6.40)

Honey syrup = $5,400 (1,800 * $3.00)

Total sales value at split-off = $307,800

Honey butter = $51,874 ($72,000/$307,800 * $221,760)

Honey jam = $165,996 ($230,400/$307,800 * $221,760)

Honey syrup = $3,890 ($5,400/$307,800 * $221,760)

The products should be processed beyond the split-off point:

Part a)

The products that should be processed beyond the split-off point are :

 Joint cost for the year = $221,760  

                                                       Per Unit       Incremental

                      Units of   Weight  Selling Price     Processing     Final Sales

Product           Output                   at Split-Off              Cost             Price

Honey butter  18,000      16               4.00                $3.00              $6.00

Honey jam     36,000        8               6.40                  4.00               14.00

Honey syrup     1,800        3               3.00                  0.40                3.60    

Total              55,800

Cost based on units = $3.97

Part b : Allocation of Joint Cost  

                                   Honey butter  Honey jam   Honey syrup  Joint Cost  

Units produced                  $71,535       $143,071          $7,154      $221,760

Weight                             $109,850      $109,850        $2,060      $221,760

Sales value at split-off       $51,874      $165,996        $3,890      $221,760

Working notes :

Honey butter = $71,535 ($221,760 * 18,000/55,800)

Honey jam = $143,071 ($221,760 * 36,000/55,800)

Honey syrup = $7,154 ($221,760 * 1,800/55,800)

Honey butter = 288,000 (18,000 * 16)

Honey jam = 288,000 (36,000 * 8)

Honey syrup = 5,400 (1,800 * 3)

Total weight = 581,400

Honey butter = $109,850 ($221,760 * 288,000/581,400)

Honey jam = $109,850 ($221,760 * 288,000/581,400)

Honey syrup = $2,060 ($221,760 * 5,400/581,400)  

Honey butter = $72,000 (18,000 * $4.00)

Honey jam = $230,400 (36,000 * $6.40)

Honey syrup = $5,400 (1,800 * $3.00)

Total sales value at split-off = $307,800

Honey butter = $51,874 ($72,000/$307,800 * $221,760)

Honey jam = $165,996 ($230,400/$307,800 * $221,760)

Honey syrup = $3,890 ($5,400/$307,800 * $221,760)

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Many people view international business as a way to create economic growth and job opportunities.

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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Answer:

B

Explanation:

There is no other answer but B. That was Nixon's doing. He took the American dollar off the Gold system. Gold in 1980 eventually went from 35 dollars to 800 which is a stupendous move. Many people, unfortunately for them, bought at the top and it took 31 years (I think) for them to recover their money.

Answer:

B

Explanation:

(i) Good X is an normal good as it is directly proportional to average consumer income. When consumer income increases, demand for good X also increases.

Consumer income is the money that a person or household earns from wages, salaries, investments, pensions, and other sources. It is the money that is available to be spent on goods and services, such as food, housing, clothing, entertainment, and other necessities. Consumer income is closely linked to GDP, as it is one of the major drivers of economic activity. As consumer income increases, people are more likely to spend money, which stimulates the economy.

(ii) Goods X and R are substitutes since a rise in the price of one will lead to a rise in the demand for the other. A change in the price of one good will affect the demand for the other.

(iii) If = 40,000 and = 20, then the equilibrium price and quantity of Good X can be determined by solving the equation:

60−2 +0.01*40000+7*20 = −600+10*20

This gives the equilibrium price of X to be $58 and the equilibrium quantity to be 800.

(iv) If the supply shifts to =−360+10, then the equilibrium price and quantity of Good X can be determined by solving the equation:

60−2 +0.01*40000+7*20 = −360+10*20

This gives the equilibrium price of X to be $48 and the equilibrium quantity to be 600. As the supply has shifted, the equilibrium price of Good X has decreased from $58 to $48 and the equilibrium quantity has decreased from 800 to 600.

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Answer:

Good records allow you to identify all of your assets, expenses, income, and liabilities. This lets you see your strengths and weaknesses of your business, which will allow you to make much better financial decisions.

The biggest danger of not recording your transactions in a separate registry is that you would not be able to keep accurate records.

This may lead to issues whereby there are inaccurate records. This can impede the growth of your business.

Without proper records, you cannot control your resources and can also stocks and fixed assets could be tampered with.

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Answer:

The answer to this question is given below in the explanation section.

Explanation:

The correct answer to this question is the price floor.

The Price floor is the lowest amount that is imposed by the government or group-imposed lowest price limit for a product or service. The government uses the price floor to keep prices at a certain level from going to low. So price floors for workers set by the government that the employer should not pay less than the set amount.

while other options are not correct because::

The price ceiling is the high amount set by the government or the by other groups for a product or service.

An incentive is an amount or something that can be given to employees or someone for motivation or encouraging them to do something.  

An elastic service is given by amazon to develop and run the application with different tools etc.

Answer:price floor

Explanation:

P2P payment apps are popular in the U.S. because they make the exchange of money easy. Nearly half (46%) of smartphone owners say they regularly use peer-to-peer payment apps. These apps offer convenience and flexibility when it comes to making payments.

Answer:

Note: The full question is attached as picture below

a. Let X is denoted as company’s monthly demand, P(X=x) is denoted as the probability of the company’s monthly demand.

The expected value is obtained below:

E(X) = (300*0.20) + (400*0.30) + (500*0.35) + (600*0.15)

E(X) = 60+120+175+90

E(X) = 445

b. The expected value of the monthly demand is 445. The each unit demands the revenue to generate is $70 and their cost is $50.

The gain/loss of the company = (300*(70−50)) - (145*50)

The gain/loss of the company = (300*20) - (145*50)

The gain/loss of the company = 6,000 - 7,250

The gain/loss of the company =−$1,250(Loss)

Answer:

$59,280

Explanation:

This can be calculated as follows:

Bond issue price = $1,650,000 * 0.96 = $1,584,000

Discount on bonds payable = $1,650,000 - $1,584,000 = $66,000

Annual amortization of discount on bonds payable = $66,000 / 10 = 6,600

Bond carrying value on January 2, 2017 = Bond issue price + (Annual discount on bonds payable * Number of years) = $1,584,000 + ($6,600 * 2) =  $1,597,200  

Value of $1,140,000 of bonds = ($1,597,200 / $1,650,000) * $1,140,000 = $1,103,520

Loss on recognized on redemption = ($1,140,000 * 102%) - $1,103,520 = $59,280

Neglect is the ongoing failure to meet a child's basic needs and the most common form of child abuse.

The most frequent type of child abuse is neglect, which is the ongoing failure to provide for a kid's basic requirements. A youngster might go without sufficient food, clean clothes, shelter, supervision, or medical attention.

When someone purposefully fails to give another adult the proper and sufficient care and assistance they require, this is known as neglect. They may have chosen to do nothing when they knew the adult in their care needed help, for a variety of reasons, including ignorance or a lack of awareness.

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Answer: 380 men preferred darker jeans

Explanation:

76% of 500 is 380

Depreciation is the process of allocating the price of a plant asset to expense in the accounting periods benefiting from its use.

Determine the value of the asset. Subtract the estimated salvage price of the asset from the cost of the asset to get the whole depreciable amount. Determine the beneficial lifestyles of the asset. Divide the sum of step (2) by using the wide variety arrived at in step (3) to get the annual depreciation amount.

Depreciation is the technique of allocating to expense the cost of a plant asset over its beneficial (service) existence in a rational and systematic manner. Such cost allocation is designed to desirable in shape prices with revenues.

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Answer: b. The company did not define its business in terms of the benefits customers seek.

Explanation:

In order for a business to make money, it needs to provide its customers with what they want not what the company wants the customers to want.

In this scenario, people switched to shampoos that could be used by people of all ages instead of just small children because this is what they wanted but not what the company provided. If the company had defined its business in terms of what their customers wanted, they would have made an all age shampoo which would have been bought.

The several ways to punish white-collar crimes are;

Financially driven, nonviolent or indirectly violent crime committed by people, businesses, and government officials is referred to as white-collar crime.These offenses cover a wide range of fraudulent practices, including money laundering, health care fraud, mortgage fraud, and securities fraud.

However, the scope goes beyond these and encompasses additional offenses like insider trading, tax evasion, and embezzlement. Whenever at least one victim experienced significant financial harm, the federal sentencing guidelines recommend a longer jail term.

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Option A : Lowering the risk of projected earnings without changing the amount or timing of the projected earnings

Lowering the risk of projected earnings without changing the amount or timing of the projected earnings would undoubtedly favor an increase in the stock , It would make the stock more appealing to investors, increasing demand and driving up the stock price.

This is because investors prefer lower-risk investments and will be willing to pay more for a stock perceived to be lower-risk. Reduced risk of projected earnings would make the stock more appealing to investors, increasing demand and driving the stock price higher.

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The Correct choice is A :

Structure and culture are among the primary internal considerations for a strategic plan. The importance of structure and culture cannot be undermined, as they both play an important role in the success of a company's strategic plan. Although there are other factors that may contribute to the success of a strategic plan, structure and culture are vital. They can be used to leverage the strengths of an organization to achieve its goals.

Structure refers to how an organization is organized and the interrelationships between different departments. A company's structure determines how information flows within the organization, and how employees interact with one another.

An effective structure enables employees to work together efficiently, leading to a higher level of productivity.

Culture refers to the set of values, beliefs, and attitudes that guide the behavior of an organization's members. A positive culture promotes employee engagement, which is essential for achieving an organization's goals.

A company's culture can influence how it deals with problems, how employees communicate with each other, and how they make decisions, among other things.

In conclusion, structure and culture are essential components of an organization's strategic plan.

By investing in a positive culture and a well-defined structure, companies can increase employee engagement, productivity, and ultimately, achieve their goals.

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Answer:

the answer is a

Explanation:

because unions wanted to get better benifits and such

Answer:

ROIC for firm HL = 11.25%

ROIC for firm LL = 11.25%

Explanation:

Given:

EBIT = $3,450,000

Tax rate = 25%

Invested capital = $23,000,000

Note that the information above is the same for both firms HL and LL. This implies that their ROIC will be the same as calculated below:

ROIC = (EBIT * (100% - Tax rate)) / Invested capital ……………………. (1)

Substituting the values into equation (1), we have:

ROIC = ($3,450,000 * (100% - 25%)) / $23,000,000 = 0.1125, or 11.25%

Therefore, we have:

ROIC for firm HL = 11.25%

ROIC for firm LL = 11.25%

What could reduce potential conflicts of interest is the use of covenants in bond agreements that limit the firm's use of additional debt and constrain managers actions

Let understand that Shareholders are basically the “owners” of the company and they are entitled to dividend payments and stock price appreciation because they bought shares.

Let understand that Managers are the people or officers who manage the company (& shares) on a daily basis.

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A lender replaces your old loans with a new one that has a lower interest rate when you refinance A student loan

A student loan is a specific kind of loan intended to assist students in covering the costs of post-secondary education and related expenses, including tuition, books, and living costs. In comparison to other loan kinds, it could have a much cheaper interest rate and a deferred repayment plan while the borrower is still enrolled in school.

A lender replaces your old loans with a new one that has a reduced interest rate when you refinance. That can help you save money over time, starting with your first payment. Whether you'll find a rate that changes your life will determine when to refinance your student loans.

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Here is an example of a three-day activity log:

Day 1:

Time Sleep Personal Travel Work School Fitness Recreation Volunteer

12:01-1:00 1

1:00-2:00 1

2:00-3:00 1

3:00-4:00 1

4:00-5:00 1

5:00-6:00 1 1

6:00-7:00 1 1

7:00-8:00 1 1

8:00-9:00 1 1

9:00-10:00 1 1

10:00-11:00 1 1

11:00-12:00 1 1

12:00-1:00 1

1:00-2:00 1

2:00-3:00 1

Day 2:

Time Sleep Personal Travel Work School Fitness Recreation Volunteer

12:01-1:00 1

1:00-2:00 1

2:00-3:00 1

3:00-4:00 1

4:00-5:00 1

5:00-6:00 1 1

6:00-7:00 1 1

7:00-8:00 1 1

8:00-9:00 1 1

9:00-10:00 1 1

10:00-11:00 1 1

11:00-12:00 1 1

12:00-1:00 1

1:00-2:00 1

2:00-3:00 1

Day 3:

Time Sleep Personal Travel Work School Fitness Recreation Volunteer

12:01-1:00 1

1:00-2:00 1

2:00-3:00 1

3:00-4:00 1

4:00-5:00 1

5:00-6:00 1 1

6:00-7:00 1 1

7:00-8:00 1 1

8:00-9:00 1 1

9:00-10:00 1 1

10:00-11:00 1 1

11:00-12:00 1 1

12:00-1:00 1

1:00-2:00 1

2:00-3:00 1

Note: The actual activities and time allocation would depend on the individual's personal and work life. This is just an example to illustrate how the log can be filled out.

It's important to be honest and accurate while filling out the log to get the most benefit from it.

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Answer:

convenient, durable, easy

The net cash provided by operating activities using the indirect method would be:  c. $50,000.

Net Cash From Operating Activities

Net income $45,000

Depreciation expense $9,000

Decrease in accounts payable ($2,500)

Decrease in inventory $3,000

Increase in accounts receivable ($4,500)

Net cash provided by operating activities $50,000

Inconclusion the net cash provided by operating activities using the indirect method would be: c. $50,000.

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Business technology is any electronic object or system that helps employees accomplish tasks. The technology that employees use includes computers, internet systems, printers, mobile devices and software applications that help them organize and prioritize work. Business technology can also help divide work as well, giving employees different goals to make larger tasks easier. Managers can use business technology to look for new hires, arrange collaborations with other businesses or assess the company's finances.Payroll: With computer systems, specialized software and scheduled payroll programs, a business uses technology to transfer payment to employees and contractors during each pay period. Some of these processes are entirely automatic.

Hiring: With the internet, businesses can access job forums to gain talent from around the world. Networking and computer systems give managers access to software that creates flyers, job descriptions and scheduling tools for finding talent.

Inventory management: Data storage systems allow businesses to create elaborate spreadsheets to record and locate inventory. These software programs may have an active classification system that informs employees if certain inventory is present in a warehouse or on transit.

Task allocation: Both offline and online software systems can help managers allocate work to employees. They can assign tasks virtually through custom websites and use internet chat rooms to discuss objectives.

Communication: Communication software allows businesses to discuss projects and plans with employees, even remotely. Some systems even have optimization options for businesses that have exclusively remote staff.

Data storage: Data storage systems allow companies to file records, financial statements and company data all in a secure database that employees can access from almost anywhere. For production companies, a data storage system can help managers track orders, manage stock and oversee general production.

Security: Security software helps keep electronic content safe, preventing unauthorized users and inputs. It can also help employees remain compliant with safety standards in the company.

The concept of demand elasticity is crucial for understanding the relationship between changes in price and changes in quantity demanded of a product.

In this scenario, we are given that the change in the price of a product is 10%, and this leads to an 8% change in the quantity demanded. We can use this information to calculate the product's demand elasticity.

Demand elasticity is the measure of the responsiveness of the quantity demanded of a product to changes in its price. It is calculated as the percentage change in quantity demanded divided by the percentage change in price. Therefore, in this scenario, the demand elasticity can be calculated as:

Demand elasticity = (% change in quantity demanded) / (% change in price)

Demand elasticity = (8% / 10%)

Demand elasticity = 0.8

The demand elasticity in this scenario is 0.8, which means that the product's demand is relatively inelastic. Inelastic demand means that changes in price have a relatively small impact on the quantity demanded of the product. This is because the percentage change in quantity demanded is less than the percentage change in price.

Overall, understanding the concept of demand elasticity is essential for businesses to make informed decisions about pricing strategies. In this scenario, the product's relatively inelastic demand suggests that changes in price may not have a significant impact on the quantity demanded, and businesses may need to consider other factors when deciding on pricing strategies.

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The given four pricing strategies are explained below:

1. Odd Pricing

Odd pricing is a method of pricing products when the price is an odd number. Example: Traditionally, certain shoe companies use strange pricing to determine the cost of their shoes and chappals, such as 399.95 $. The decision to set the price at an odd number makes perfect sense. Instead of 400$, 399.95 $ sounds better. It gives the appearance that the price is lower.

2. Price lining

In this instance, the price is set once, and it stays that way for a considerable amount of time.

3. Freemium pricing

Businesses can use freemium pricing as a pricing strategy to provide clients with both free and paid services. The paid alternatives are typically improved, or premium, versions of the service, whereas the free options are only the basic ones.

4. Leader pricing

A technique for pricing things below their profit margin is called leader pricing. Businesses who use this tactic don't earn from the sales of these discounted goods, but it might offer them a lot of advantages. Businesses may attract customers, promote purchases, raise overall sales, and strengthen customer loyalty by providing fantastic discounts to their customers.

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