According to the research, the correct answer is post-purchase dissonance. Kara hears her friends talking about a great series that is only available from netflix and she wonders if she made the right decision. This scenario exemplifies the concept of post-purchase dissonance.
What is post-purchase dissonance?It alludes to the internal discomfort that a person suffers when the decision made is in conflict due to a feeling of non-conformity, doubt, regret regardless of the meaning of her decision.
In this sense, a consumer can sometimes experience after making a purchase when the selected product has certain drawbacks while each of the rejected alternatives has some attractive features.
Therefore, we can conclude that according to the research, post-purchase dissonance is a phenomenon that usually occurs after the purchase of the product or service due to the possibility of not having made the correct decision.
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Assume laura has a managing board that includes members from the jojo maman bebe sales, operations, and finance departments. Based solely on this information, what type of team would this most likely be?.
Based on this information, they would be considered a cross functional team, made up of professionals from different specializations.
What is a cross functional team?It is a group of people with different but complementary professional experiences and skills who work for a shared goal.
The members of this type of team have and contribute different academic backgrounds that nurture the group, in addition to each one having a very different profile and an experience that enriches the whole.
Therefore, we can conclude that based on this information, they would be considered a cross functional team, made up of professionals from different specializations.
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Description: When the box of cereal shrinks, but the price doesn't. Students will learn about shrinkflation, extend its implications, and think about ways that they can alter their own life to lower the costs of inflation. 1. How would companies benefit from shrinking the size of their products? 2. Are there any costs associated with changing the size of, say, a cereal box? 3. Shrinkflation examples are usually consumer goods. Could companies providing services also engage in shrinkflation? If so, give an example of how they could do it. 4. During the pandemic, certain experiences became less pleasant (e.g., grocery shopping). Can you relate that to a change in price of goods/services/experiences? 5. Read this blog.poste. Given your own experiences, which good or service changed the most in quality-adjusted price during the pandemic? 6. Tyler Cowen in a recent interview, suggested creating your own deflation. What do you think this means?
Companies benefit from shrinking product sizes to maintain prices while reducing costs. There may be costs and negative perceptions associated with size changes. Services can also engage in shrinkflation. Creating personal deflation involves reducing expenses and finding cost-effective alternatives.
1. Companies benefit from shrinking the size of their products because it allows them to maintain the same price while reducing production costs. This can help them maintain profit margins and avoid increasing prices, which could potentially lead to customer dissatisfaction or decreased sales.
2. There can be costs associated with changing the size of a product. Companies may need to invest in new packaging designs, adjust production processes, or reconfigure supply chains. Additionally, there is a risk of negative customer perception if they perceive the smaller size as a deceptive practice.
3. Yes, companies providing services can also engage in shrinkflation. For example, a gym membership might reduce the number of classes or services offered while keeping the price the same. Alternatively, a streaming service might limit the number of devices that can access the service simultaneously without changing the subscription cost.
4. During the pandemic, certain experiences such as grocery shopping became less pleasant due to safety measures, reduced availability of certain products, or increased wait times. These changes in the shopping experience were not directly related to changes in the price of goods or services but rather to the operational challenges imposed by the pandemic.
5. Creating one's own deflation, as suggested by Tyler Cowen, could mean taking personal actions to reduce personal consumption or find ways to lower expenses. It could involve strategies such as reducing discretionary spending, finding more cost-effective alternatives, or adopting frugal habits to save money. By doing so, individuals can effectively lower their own personal inflation rate by reducing the impact of rising prices on their overall expenses.
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What do you mean by a facilitator? What are the major jobs of a facilitator of non formal educational programme
Explanation:
It is important to note that much of the intermittent formal learning throughout people's....Part of being an effective facilitator of informal learning ( and non-formal education) involves.
Answer:
The definition of facilitate is "to make easy" or "ease a process." What a facilitator does is plan, guide and manage a group event to ensure that the group's objectives are met effectively, with clear thinking, good participation and full buy-in from everyone who is involved.
Sergey's boss has very strong opinions and often frowns upon questions from the team. this creates an environment where everyone just agrees with the boss's decisions without questioning them. what is this called? question 14 options: consensus critical thinking groupthink group dynamics
An environment where everyone just agrees with the boss's decisions without questioning them is called: groupthink.
What is the decision-making process?The decision-making process simply refers to a cognitive process that involves gathering and analyzing information, as well as evaluating alternative courses of action, in order to enable the proper selection of an optimum and higher-quality solution to a particular problem.
What is a groupthink?A groupthink can be defined as a psychological practice which involves thinking or making decisions as a group of people, that typically results in an unchallenged, irrational, weak, poor-quality, or dysfunctional decision-making due to their desire for harmony, conformity and unanimity.
In this context, we can reasonably infer and logically deduce that Sergey's team are engaged in a groupthink because they all agree with their boss's decisions without questioning or challenging them.
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Answer:
groupthink
because i took the test
The Federal Reserve purchases large amounts of treasury securities in order
to:
A. slow down a period of rapid economic growth.
B. enforce regulations on its member banks.
C. increase the available money supply.
D. stop banks from lending too much money.
SUBMI
Answer: C. increase the available money supply
Explanation:
The supply of money is the total amount of money that a particular economy has at a particular point in time.
The Federal Reserve purchasing large amounts of treasury securities is an expansionary policy which means that it's a policy that is used to increase the money that's available in the economy.
When the government buys securities, it leads to more money on circulation. Likewise, if the federal government wants to reduce money supply, it sells securities to the people.
Therefore, the correct option is C.
C. increase the available money supply
Explanation:
The supply of money is the total amount of money that a particular economy has at a particular point in time.
What was the most significant change in the american economy as a result of the civil war?.
During the Civil War, Republican Congresses established a series of laws that reconfigured the government-market relationship and set the foundation for the Gilded Age.
What changed economically after the Civil War?The society changed dramatically after 1800, as individual property rights grew more precious, Wage labor grew increasingly common, and the wealth gap between the rich and the poor widened.
States granted voting rights to all white men, making race the cornerstone of politics rather than property.
Thus, foundation for the Gilded Age was established.
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Metion three ways in which a surplus or credit balance in the combined current and capital account can be used up
The balance of repayments (BOP) is the approach by means of which nations measure all of the international financial transactions inside a positive period. The BOP consists of three most important accounts: the cutting-edge account, the capital account, and the financial account.
What can cause a surplus in the present day account of the balance of payments?The currency price depreciates with admire to a country that has decrease inflation. Thus, when inflation is high, it is beneficial for exporters to export more. This creates a surplus in a current account. Domestic demand- Sometimes, due to vulnerable home demand, a united states may additionally have modern-day account surpluses.
This helps to generate capital to fund its domestic productions. With a surplus in its BoP, a u . s . a . can also lend dollars outside its borders. A surplus in BoP can help to boost the short time period financial growth of a country.
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https://brainly.com/question/30080233#SPJ1Morris lest, inc. sold its delivery truck for $500 more than its book value. the sale will result in a(n) ______.
Morris lest inc. sold its delivery truck for $500 more than its book value. the sale will result in an increase in Net income on the income statement.
A business may try to cut costs or boost revenue in an effort to raise net income. Companies can reduce costs by buying fewer things, paying less for labor, or increasing production efficiency.
A corporation grows when it generates income because its net assets have grown. Even if a portion of the income is later paid out as a dividend to shareholders, the company has expanded due to its own operations.
A corporation's retained earnings, which are a component of stockholders' equity, rise when its net income is positive. Stockholders' equity and retained earnings will decline as a result of a net loss.
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What are the differences between quantitative and
judgmental approaches to forecasting? Discuss the advantages and
disadvantages. Give an examples from the chapter of a calculation
technique that coul
The main difference between quantitative and judgmental approaches to forecasting is that the former involves the use of statistical and mathematical models to analyze data and make predictions. On the other hand, the latter is based on expert judgment, intuition, and experience to make forecasts. Let's take a look at the advantages and disadvantages of each approach.
Quantitative approaches
Advantages
-It is objective and data-driven, which reduces the potential for human bias and error.
-It is based on historical data, which can help identify patterns and trends.
-It allows for the use of mathematical models to make more precise predictions.
-It is often automated, which can save time and resources.
Disadvantages
-It assumes that historical trends will continue, which may not always be the case.
-It can be difficult to account for unforeseen events or changes in external factors.-It requires accurate and reliable data to produce accurate forecasts.
Example: One example of a calculation technique that could be used in quantitative forecasting is time-series analysis. This technique involves analyzing historical data to identify patterns and trends, such as seasonality or cyclical patterns.
Judgmental approaches
Advantages
-It takes into account factors that may not be captured by data alone, such as expert knowledge and intuition
.-It can be useful in situations where historical data is limited or unreliable.
-It can account for unforeseen events or changes in external factors.
Disadvantages
-It is subjective and prone to human bias and error.
-It may not be as precise as quantitative methods.
-It is often time-consuming and resource-intensive.
Example: One example of a judgmental forecasting technique is the Delphi method. This technique involves gathering opinions and input from a panel of experts to make forecasts. The panel members can provide their own knowledge and expertise to make more informed predictions.
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Promotional discounts are given to stores by manufacturers to place their products in preferred locations in the store and to display their products in a ski manufacturer sells a local ski shop 35 pairs of their new store window: skis for $7000, which is a discount of $2,625. What is the percentage of the discount given to the store? (Round your answer to the nearest whole percent.)
Answer:
27%
Explanation:
The ski was sold for $7,000 which has a discount of $2,625.
the price before discount is
= $7,000 + $2,625.
=$9,625
the discount as a percentage
=$2,625 / $9,625 x 100
=0.272727 x 100
=27.27%
=27%
planning represents the final response of the organization when faced with any interruption of its critical operations.
T/f
The statement is False. Planning is a proactive process that involves identifying potential risks, developing strategies to mitigate those risks, and preparing to respond effectively in the event of an interruption of critical operations.
It is not the final response of the organization, but rather the first step in ensuring the continuity of operations in the face of unexpected events or disruptions. Effective planning is critical for organizations to minimize the impact of disruptions and quickly resume critical operations. It involves developing a comprehensive business continuity plan that outlines the procedures and protocols for responding to different types of disruptions, such as natural disasters, cyber attacks, or supply chain disruptions.
The business continuity plan should include detailed contingency plans, such as backup systems, alternative supply sources, and emergency response procedures.
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A US based company is attempting to merge with a French National conglomerate. With IFRS and GAAP being so different, what would be some of the challenges the two sides may face with the merger from an accounting standpoint?
The merger between a US-based company and a French National conglomerate can pose several challenges from an accounting standpoint due to the differences between International Financial Reporting Standards (IFRS) and Generally Accepted Accounting Principles (GAAP). Some of the challenges they may face include:
Accounting Principles: IFRS and GAAP have different underlying principles and concepts. IFRS is principles-based, emphasizing substance over form, while GAAP is rules-based, providing specific guidelines for various transactions. The differences in accounting principles can lead to variations in the recognition, measurement, and presentation of financial information.
Financial Statement Presentation: IFRS and GAAP have different requirements for financial statement presentation. The formats and classifications of items on the balance sheet, income statement, and cash flow statement may vary between the two sets of standards. This can make the comparison and consolidation of financial statements challenging.
Revenue Recognition: IFRS and GAAP have differing guidance on revenue recognition, particularly in areas such as the timing of revenue recognition, multiple-element arrangements, and percentage-of-completion method for long-term contracts. Aligning the revenue recognition policies of the merging entities can be a complex task.
Valuation of Assets and Liabilities: IFRS and GAAP may have different rules for the valuation of assets and liabilities, such as inventory, property, plant, and equipment, intangible assets, and financial instruments. Differences in valuation methodologies can impact the reported values of assets and liabilities, which can have implications for financial ratios, financial performance, and tax implications.
Business Combinations and Goodwill: IFRS and GAAP have different requirements for accounting for business combinations and the subsequent treatment of goodwill. For example, IFRS allows for the option of measuring goodwill at cost or using the impairment model, while GAAP follows a more strict impairment-only model. This can result in differences in the recognition and measurement of goodwill and the related impact on financial statements.
Disclosures: IFRS and GAAP have varying disclosure requirements, with differences in the level of detail and specific disclosures mandated for certain transactions and events. Harmonizing the disclosure requirements can be a complex task to ensure compliance with both sets of standards.
These are just a few examples of the challenges that may arise during the merger process from an accounting standpoint. It is crucial for the merging entities to have a thorough understanding of the differences between IFRS and GAAP and work closely with accounting professionals and advisors to address these challenges effectively and ensure accurate financial reporting and compliance with relevant regulations.
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things we need to normalize:
Answer:
Being part of the LGBTQ community
Since the local epidemic broke out in Taiwan, many local industries have faced a critical moment of survival due to the epidemic. Lion Travel is the leader of Taiwan’s tourism industry and one of the companies most severely affected by the epidemic. Please answer the following question:
From the perspective of human resource management, what strategies can Lion Travel do to face this epidemic crisis?
From the perspective of human resource management, Lion Travel can adopt several strategies to face the epidemic crisis:
1. Employee safety and well-being: Lion Travel should prioritize the health and safety of its employees. This includes implementing strict health and safety protocols, providing necessary personal protective equipment, and regularly communicating updates and guidelines related to the epidemic. Additionally, offering mental health support and resources to employees can help them cope with the challenges and uncertainties of the crisis.
2. Flexible work arrangements: With travel restrictions and changing market demands, Lion Travel can consider implementing flexible work arrangements such as remote work, flexible schedules, or reduced working hours. This allows employees to adapt to the changing situation and balance their personal and professional responsibilities.
3. Training and upskilling: During a crisis, it is essential for employees to develop new skills and capabilities to meet changing market demands. Lion Travel can provide training programs and opportunities for upskilling, such as digital marketing, online customer service, or virtual tour guiding. This not only equips employees with relevant skills but also enhances their employability in the future.
4. Employee engagement and communication: Open and transparent communication is crucial during a crisis. Lion Travel should maintain regular communication channels with its employees, keeping them informed about the company's situation, updates, and any changes in policies or procedures. Creating platforms for feedback, suggestions, and employee engagement initiatives can help foster a sense of unity and resilience within the organization.
5. Cost optimization and restructuring: Given the financial challenges faced by the company, Lion Travel may need to assess its organizational structure and optimize costs. This may involve making tough decisions such as restructuring, downsizing, or implementing temporary pay reductions. However, it is important to handle these measures sensitively, ensuring fair treatment of employees and providing support during transitions.
Overall, navigating through the epidemic crisis requires a strategic approach to human resource management that prioritizes employee well-being, agility, and adaptability. By implementing these strategies, Lion Travel can better cope with the challenges and position itself for recovery and long-term success.
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“Creditors do not actually have to worry about their dues in case the business fails.” In which
form of business is this possible? Which special feature is highlighted in this statement ?
Answer:
Sole proprietorship
The sole proprietor(not creditors but creditor) bears all losses
Explanation:
Sole proprietorship is a form of business in which there is no legal difference between the owner and the business entity as both are one and the same. The term 'sole' connotes 'only' while 'proprietorship' connotes 'owner(ship)'; it is also referred to as individual entrepreneurship. This is because only the owner of the business (the proprietor) bears all the risks (losses, debts, legal actions etc) and benefits (profits, dividends etc) of the business venture. He owns all the assets of the business venture, debts as well as the legal actions (whether positive or negative); when business is faring well, he enjoys a handsome profit and when business is struggling, he also bears the brunt of it.
The special feature highlighted in the statement above is the reality that the "creditors" refers simply and only to the proprietor (the owner of the business); in which case, if the business fails, the proprietor does not have to bother about the backlash from creditors' pressures, legal actions etc. He is the sole bearer of the losses of the business venture.
The focus on traditional financial statements is -Select- data rather than cash flow. However, cash flow is important to investors, managers, and stock analysts. Therefore, corporate decision makers and security analysts need to modify accounting data provided to them. An important modification is the concept of free cash flow (FCF). Many analysts regard FCF as being the single and most important number that can be developed from the accounting statements, even more important than net income. The equation for free cash flow is:
Answer:
The focus on traditional financial statements is ACCOUNTING data rather than cash flow.
Free cash flows = (EBIT x (1 - tax rate)] + non-cash expenses (depreciation and amortization) - capital expenditures - increases in net working capital
Explanation:
Cash is KING. A company might b extremely profitable from an accounting point of view, but if it doesn't have enough cash to keep running, it will go bankrupt. E.g. many companies increase their sales revenue by handing out long credit terms to most or all of its customers including some that may not be able to pay them back. That increases accounts receivables and net income, but until the cash is collected, this is useless. The other option that a company has is to factor their accounts receivables but factoring companies are not dumb and they will pay a very low amount for them.
Companies and stocks are always valued based on cash flows, never on accounting records. Accounting records might be deceiving, but cash never lies. Either the company has or doesn't have cash. A company's cash flow tells investors how well managed a company is.
E.g. Remember that during the Great Recession both GM and Chrysler went bankrupt and the government had to bail them out. If you looked at their accounting records of the previous year, they were both profitable, so why did they burst in just a few months? They didn't have cash. Cars and SUVs are useless unless you sell them and collect the cash. Ford didn't go bankrupt because it had billions of dollars in cash, not because they were doing great. Ford was actually the company that performed worst form an accounting point of view. But out of the 3 car companies, it was the only one properly managed. Accounting records are great for the IRS but are meaningless to an investor.
How do you approach risk management *
in global banking?
Risk management in global banking involves identifying, assessing, and mitigating various risks faced by banks operating in a global environment. Here is an approach to risk management in global banking:
Identify and categorize risks: Start by identifying the different types of risks that can impact the bank's operations.
Common risks in global banking include credit risk, market risk, liquidity risk, operational risk, regulatory risk, and geopolitical risk. Categorize these risks to ensure a comprehensive understanding of the potential threats.
Risk assessment: Assess the likelihood and potential impact of each identified risk. Use quantitative and qualitative methods to analyze the risks and prioritize them based on their significance. This step helps in understanding the severity of each risk and allows for appropriate resource allocation for risk mitigation.
Develop risk management policies and procedures: Establish comprehensive risk management policies and procedures that outline the bank's risk appetite, risk tolerance, and risk mitigation strategies. These policies should align with regulatory requirements and international best practices. They should also include guidelines for risk monitoring, reporting, and escalation.
Risk measurement and monitoring: Implement robust risk measurement techniques to continuously monitor and measure the identified risks. This involves establishing risk indicators, thresholds, and limits to detect and respond to potential risk breaches. Utilize risk management tools such as risk models, stress testing, scenario analysis, and value-at-risk (VaR) calculations to assess the potential impact of adverse events
Regulatory compliance: Stay updated with global banking regulations and ensure compliance with regulatory requirements. This includes adhering to capital adequacy standards (such as Basel III), reporting obligations, anti-money laundering (AML) regulations, and other regulatory guidelines specific to the jurisdictions in which the bank operates.
Continuous improvement: Risk management is an ongoing process, and it is important to regularly review and enhance risk management practices. Conduct periodic risk assessments, evaluate the effectiveness of risk mitigation strategies, and incorporate lessons learned from past experiences and industry developments
Stakeholder communication: Establish effective communication channels with stakeholders, including regulators, shareholders, clients, and employees.
Keep them informed about the practices, risk exposures, and mitigation strategies to maintain transparency and build trust.
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You invest $X into a fund that promises a return of 9% per year. How many years will it take for
your investment to increase to a value of at least $8X? Provide your answer as an integer.
Future Value is the desired value ($8X in this case)
Present Value is the initial investment amount ($X in this case)
Interest rate is the annual rate of return (9% or 0.09 in decimal form)
n is the number of years we want to find.
To determine the number of years it will take for an investment to increase to a value of at least $8X with a 9% annual return, we can use the concept of compound interest.
The formula to calculate the future value of an investment with compound interest is:
Future Value = Present Value * (1 + interest rate)^n
Where:
Future Value is the desired value ($8X in this case)
Present Value is the initial investment amount ($X in this case)
Interest rate is the annual rate of return (9% or 0.09 in decimal form)
n is the number of years we want to find.
Substituting the given values into the formula:
$8X = $X * (1 + 0.09)^n
To simplify the equation, we can divide both sides by $X:
8 = (1.09)^n
Taking the logarithm of both sides (base 10 or natural logarithm, it doesn't matter), we can solve for n:
log(8) = log((1.09)^n)
n * log(1.09) = log(8)
n = log(8) / log(1.09)
Using a calculator, we can find that:
n ≈ 11.84
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Apply
the Hambrick Frederickson strategy diamond to plan a
strategy
for Wooden Grain Toys. (Please provide
Reference)
The Hambrick and Frederickson Strategy Diamond is a strategic tool used to analyze and plan the overall strategy of a firm.
It includes the following 5 elements: Arenas, Vehicles, Differentiators, Staging, and Economic Logic. In order to apply the Hambrick Frederickson strategy diamond to plan a strategy for Wooden Grain Toys, we can follow these steps:
Arenas:
Identify the markets and product categories in which the company will compete. For Wooden Grain Toys, the arenas can include toy stores, online retail platforms, and gift shops.
Vehicles:
Identify the channels through which the company will reach its customers. For Wooden Grain Toys, the vehicles can include direct sales through the company's website, Amazon, and retail stores.
Differentiators:
Identify the unique selling proposition or competitive advantage that distinguishes the company from its competitors. For Wooden Grain Toys, the differentiators can include the use of natural, eco-friendly materials, unique designs, and hand-crafted toys.
Staging:
Identify the sequence and speed of moves that the company will make as it pursues its overall strategy. For Wooden Grain Toys, the staging can include expanding product lines, exploring new markets, and introducing new distribution channels.
Economic Logic:
Identify how the company will earn a profit and generate value for its shareholders. For Wooden Grain Toys, the economic logic can include achieving economies of scale through bulk purchasing of raw materials, increasing profit margins through vertical integration, and expanding market share through aggressive pricing strategies.
Overall, the Hambrick and Frederickson Strategy Diamond provides a useful framework for developing a comprehensive and cohesive strategy for Wooden Grain Toys.
Reference: Hambrick, D. C., & Fredrickson, J. W. (2001). Are you sure you have a strategy? Academy of Management Executive, 15(4), 48-59.
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The _____ is a piece of U.S. legislation that raises executive and board responsibility and ties criminal penalties to certain accounting and financial violations.
Answer: Sarbanes-Oxley Act
Explanation:
In the wake of the accounting scandals that rocked the world in the early 2000s from companies like WorldCom and Enron, the U.S. Government passed a law that was aimed at ensuring that such an event would not repeat itself.
The Act was the Sarbanes-Oxley Act which was passed in 2002 and amongst other methods, it aimed to protect investors in a company from accounting misstatements by raising executive and board responsibility and also tying criminal penalties to certain accounting and financial violations.
Cash received prior to delivering a product or performing a service is called a(n) a.unearned asset. b.unearned revenue. c.unearned expense. d.unearned contra-asset.
The correct answer is b. unearned revenue.
Unearned revenue, also known as deferred revenue or advance payments, refers to the cash a company receives from its customers for goods or services that it has not yet delivered or performed. Unearned revenue is considered a liability on the company's balance sheet until the work is completed or the product is delivered, at which point it becomes revenue that can be recognized on the income statement.
Unearned revenue is commonly found in industries such as software and subscription-based services, where customers pay upfront for future access to products or services. It's essential for companies to properly account for unearned revenue to avoid overstating their revenue and profits in a given period.
When a company receives unearned revenue, it records it as a liability on its balance sheet and recognizes it as revenue on the income statement when the associated goods or services are provided. The amount of unearned revenue decreases over time as the company fulfills its obligations to its customers.
In summary, unearned revenue represents cash received by a company before it delivers a product or service to its customers, making it a liability on the company's balance sheet until the related revenue is recognized on the income statement.
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Nestle and General Mills have __________ to distribute General Mills products like Cheerios under the Nestle brand name about 140 markets worldwide.
Multiple Choice
A. multichannel distribution
B. a direct marketing channel
C. a cooperative distribution channel
D. a strategic channel alliance
E. a dual distribution agreement
Nestle and General Mills have a strategic channel alliance to distribute General Mills products like Cheerios under the Nestle brand name in about 140 markets worldwide. (D)
A strategic channel alliance is a partnership between two or more companies to achieve mutually beneficial goals. In this case, Nestle and General Mills have come together to expand their reach in the global market by leveraging each other's strengths.
Nestle, being a global food and beverage giant, has a strong distribution network in many countries, while General Mills has a portfolio of popular brands like Cheerios.
By partnering with Nestle, General Mills can tap into Nestle's distribution channels to reach a wider audience, while Nestle can expand its product offerings by including General Mills products under its brand name.
This type of collaboration is a win-win for both companies, as it helps them gain a competitive edge in the market and increase their revenue.(D)
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P-F:2-30A Journalizing transactions, posting journal entries to T-accounts, and preparing a trial balance Ann Simpson started her practice as a design consultant on September 1, 2024. During the first month of operations, the business completed the following transactions: Sep. 1 Received $48,000 cash and issued common stock to Simpson. 4 Purchased office supplies, $1,200, and furniture, $1,300, on account. Performed services for a law firm and received $1,900 cash. 6 7 Paid $18,000 cash to acquire land to be used in operations. 10 Performed services for a hotel and received its promise to pay the $1,200 within one week. 14 Paid for the furniture purchased on September 4 on account. 15 Paid assistant's semimonthly salary, $1,500. 17 Received cash on account, $1,000. 20 Prepared a design for a school on account, $650. 25 Received $2,100 cash for design services to be performed in October. Received $2,900 cash for consulting with Plummer & Gordon. 28 29 Paid $600 cash for a 12-month insurance policy starting on October 1. Paid assistant's semimonthly salary, $1,500. 30 30 Paid monthly rent expense, $600. 30 Received a bill for utilities, $350. The bill will be paid next month. Paid cash dividends of $3,700. 30 Requirements 1. Record each transaction in the journal using the following account titles: Cash; Accounts Receivable; Office Supplies; Prepaid Insurance; Land; Furniture; Accounts Payable; Utilities Payable; Unearned Revenue; Common Stock; Dividends; Service Revenue; Salaries Expense; Rent Expense; and Utilities Expense. Explanations are not required. 2. Open a T-account for each of the accounts. 3. Post the journal entries to the T-accounts, using transaction dates as posting references in the ledger accounts. Label the balance of each account Bal. 4. Prepare the trial balance of Ann Simpson, Designer, as of September 30, 2024.
1. Journal Entries:
Sep. 1
Cash 48,000
Common Stock 48,000
Sep. 4
Office Supplies 1,200
Furniture 1,300
Accounts Payable 2,500
Sep. 4
Accounts Receivable 1,900
Service Revenue 1,900
Sep. 6
Land 18,000
Cash 18,000
Sep. 10
Accounts Receivable 1,200
Service Revenue 1,200
Sep. 14
Accounts Payable 1,300
Cash 1,300
Sep. 15
Salaries Expense 1,500
Cash 1,500
Sep. 17
Cash 1,000
Accounts Receivable 1,000
Sep. 20
Accounts Receivable 650
Service Revenue 650
Sep. 25
Cash 2,100
Unearned Revenue 2,100
Sep. 25
Cash 2,900
Service Revenue 2,900
Sep. 28
Prepaid Insurance 600
Cash 600
Sep. 29
Salaries Expense 1,500
Cash 1,500
Sep. 30
Rent Expense 600
Cash 600
Sep. 30
Utility Expense 350
Utilities Payable 350
Sep. 30
Dividends 3,700
Cash 3,700
2. T-Accounts:
Cash:
Sep. 1 48,000 Bal.
Sep. 4 1,900 Bal.
Sep. 6 18,000 Bal.
Sep. 10 1,200 Bal.
Sep. 14 1,300 Bal.
Sep. 15 1,500 Bal.
Sep. 17 1,000 Bal.
Sep. 20 650 Bal.
Sep. 25 2,100 Bal.
Sep. 25 2,900 Bal.
Sep. 28 600 Bal.
Sep. 29 1,500 Bal.
Sep. 30 600 Bal.
Sep. 30 350 Bal.
Sep. 30 3,700 Bal.
Accounts Receivable:
Sep. 4 1,900 Bal.
Sep. 10 1,200 Bal.
Sep. 17 1,000 Bal.
Sep. 20 650 Bal.
Office Supplies:
Sep. 4 1,200 Bal.
Prepaid Insurance:
Sep. 28 600 Bal.
Land:
Sep. 6 18,000 Bal.
Furniture:
Sep. 4 1,300 Bal.
Accounts Payable:
Sep. 4 2,500 Bal.
Sep. 14 1,300 Bal.
Utilities Payable:
Sep. 30 350 Bal.
Unearned Revenue:
Sep. 25 2,100 Bal.
Common Stock:
Sep. 1 48,000 Bal.
Dividends:
Sep. 30 3,700 Bal.
Service Revenue:
Sep. 4 1,900 Bal.
Sep. 10 1,200 Bal.
Sep. 20 650 Bal.
Sep. 25 2,900 Bal.
Salaries Expense:
Sep.
15 1,500 Bal.
Sep. 29 1,500 Bal.
Rent Expense:
Sep. 30 600 Bal.
Utility Expense:
Sep. 30 350 Bal.
3. Trial Balance as of September 30, 2024:
Debit Credit
Cash 38,300
Accounts Receivable 4,750
Office Supplies 1,200
Prepaid Insurance 600
Land 18,000
Furniture 1,300
Accounts Payable 3,800
Utilities Payable 350
Unearned Revenue 2,100
Common Stock 48,000
Dividends 3,700
Service Revenue 6,650
Salaries Expense 3,000
Rent Expense 600
Utility Expense 350
91,800 91,800
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Erik's job is to negotiate the best price for his client, a retaller that sells high-end shoes. He approaches a shoe manufacturer with whom the retailer wants to carry out business. He tells the manufacturers that his client is willing to purchase 10 pairs of shoes of every size if they lower their price by 10 percent. What kind of intermediary is Erik?
A. distributor
B. consumer
C. wholesaler
D. broker
Answer:
D. broker
Explanation:
A broker is a person or a firm who organizes or arranges for financial transactions between two parties or more. A broker is an intermediary because they connect a willing seller to a willing buyer for a commission. Brokers do not take ownership of the products being transacted. They only create a link between buyers and sellers.
Erick is a broker. He acts on behalf of the retailer and connects them to the manufacturer.
Employers can try to overcome the moral-hazard problem involving their employees by.
Answer:
encourage the risk taking party to act more responsible by offering them incentives or make a punishable offense
Explanation:
it works in modt cases or just fireing them might just do the trick
You are thinking about buying a savings bond. The bond costs $57 today and will mature in 13 years with a value of $114. What annual interest rate will the bond earn? The bond will earn an annual rate of %. (Round to two decimal places.)
The bond will earn an annual rate of approximately 5.32%.
The bond costs $57 today and will mature in 13 years with a value of $114. To calculate the annual interest rate, we can use the formula for compound interest:
Future Value = Present Value * (1 + Interest Rate)^Number of Periods
In this case, the Present Value (PV) is $57, the Future Value (FV) is $114, and the Number of Periods (N) is 13 years. We need to solve for the Interest Rate (R).
$114 = $57 * (1 + R)^13
Dividing both sides of the equation by $57, we get:
2 = (1 + R)^13
Taking the 13th root of both sides:
(1 + R) = 2^(1/13)
Subtracting 1 from both sides:
R = 2^(1/13) - 1
Using a calculator, we find that R ≈ 0.0532.
Therefore, the bond will earn an annual rate of approximately 5.32%.
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how does inflation and deflation affect economic growth
Answer:
Inflation affects growth by changing the labor supply and demand, and thus reducing aggregate employment in the sector that is subject to increasing returns. The reduction in the level of employment will reduce the marginal productivity of capital.
If deflation is exacerbated, it can throw an economy into a deflationary spiral. This happens when price decreases lead to lower production levels, which, in turn, leads to lower wages, which leads to lower demand by businesses and consumers, which lead to further decreases in prices.
If an error is found when posting to the ledger, how would it be corrected?
Most time, when an error is found when posting to the ledger, it would be corrected by reversing the incorrect entry and use a second journal entry to record the transaction correctly,
What is a ledger error?In a ledger, the error can be called a wrong posting may be in the forms of posting a wrong amount to a ledger account or posting to the wrong side of an account or double posting.
All these type of errors affect mostly only one side of ledger accounts and they are mostly revealed by the trial balance through disagreement of debit and credit totals.
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Lucas invests $2000 per year in his retirement account for 40 years in an investment with an average annual return of 10%. Approximately how much will he have after 40 years
If Lucas invests $2,000 yearly for 40 years with annual return of 10%, he will have $885,185.
Data and Calculations:
N (# of periods) = 40 years
I/Y (Interest per year) = 10%
PV (Present Value) = $0
PMT (Periodic Payment) = $2,000
Results:
FV (Future Value) = $885,185.11
Sum of all periodic payments = $80,000 ($2,000 x 40)
Total Interest= $805,185.11
Thus, approximately, Lucas will have $885,185 in his retirement account after 40 years.
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Which of the 4 P's focuses on communicating the value proposition?
Answer: The marketing mix is most commonly executed through the 4 P's of marketing: Price, Product, Promotion, and Place.
Explanation: