The auditors of Steffey Ltd., decided to study the cash receipts and disbursements for the month of July of the current year under audit. They obtained the bank reconciliations and the cash journals prepared by the company accountants, which revealed the following: June 30: Bank balance, $355,001; deposits in transit, $86,899; outstanding checks, $42,690; general ledger cash balance, $399,210. July 1: Cash receipts journal, $650,187; cash disbursements journal, $565,397. July 31: Bank balance, $506,100; deposits in transit, $51,240; outstanding checks, $73,340; general ledger cash balance, $484,000. Bank statement record of deposits: $835,846; of payments: $684,747.
Required:Prepare a four-column proof of cash covering the month of July of the current year. Identify problems, if any.

Answers

Answer 1

Answer:

                                     Bal. June 30   Receipts    Disbursements    Bal. July 31

Balance per Bank            355,001          835,846       684,747             506,100

Deposit in Transit

June 30                              86,899         -86,899

July 31                                                       51,240                                     51,240

Outstanding Checks

June 30                               42,690                               -42,690              

July 31                                                                               73,340             73,340

Unrecorded Receipts                              -150,000                                 -150,000  

Unrecorded Disbursement                                            -150,000          -150,000

Balance per Books          399,210         650,187          565,397           484,000


Related Questions

Develop a managerial report (1,000-1,250 words) summarizing your analysis of the OEI service capabilities. Make recommendations regarding the number of technicians to be used when OEI reaches 20 and then 30 customers, and justify your response. Include a discussion of the following issues in your report:

What is the arrival rate for each customer?
What is the service rate in terms of the number of customers per hour? (Remember that the average travel time of 1 hour is counted as service time because the time that the service technician is busy handling a service call includes the travel time in addition to the time required to complete the repair.)
Waiting line models generally assume that the arriving customers are in the same location as the service facility. Consider how OEI is different in this regard, given that a service technician travels an average of 1 hour to reach each customer. How should the travel time and the waiting time predicted by the waiting line model be combined to determine the total customer waiting time? Explain.
OEI is satisfied that one service technician can handle the 10 existing customers. Use a waiting line model to determine the following information: (a) probability that no customers are in the system, (b) average number of customers in the waiting line, (c) average number of customers in the system, (d) average time a customer waits until the service technician arrives, (e) average time a customer waits until the machine is back in operation, (f) probability that a customer will have to wait more than one hour for the service technician to arrive, and (g) the total cost per hour for the service operation.
Do you agree with OEI management that one technician can meet the average 3-hour service call guarantee? Why or why not?
What is your recommendation for the number of service technicians to hire when OEI expands to 20 customers? Use the information that you developed in Question 4 (above) to justify your answer.
What is your recommendation for the number of service technicians to hire when OEI expands to 30 customers? Use the information that you developed in Question 4 (above) to justify your answer.
What are the annual savings of your recommendation in Question 6 (above) compared to the planning committee's proposal that 30 customers will require three service technicians? (Assume 250 days of operation per year.) How was this determination reached?

Answers

The purpose of this research is to examine the service proficiency of OEI and suggest suitable  staffing levels for accommodating a growing clientele of 20 and 30.

1. Arrival Rate for Each Customer:  1.25 customers per hour.

2. Service Rate in Terms of Customers per Hour: 1/3 customers per hour.

3. Travel Time and Waiting Time: The waiting time starts from the moment the customer contacts OEI until the machine is back in operation, including both travel and repair time.

What is the managerial report

1. Arrival Rate for Each Customer:  1.25 customers per hour.

Based on historical data, the arrival rate for each customer is calculated by dividing the total number of customers by the total time. let us say that OEI receives an average of 10 customers per day, and the service operates for 8 hours a day. So, the arrival rate per customer is:

10 customers / 8 hours

= 1.25 customers per hour.

2. Service Rate in Terms of Customers per Hour: 1/3 customers per hour.

The service rate takes into account the time required to complete a repair, including travel time. OEI estimates that each service call takes approximately 1 hour for travel time and 2 hours for the actual repair. So, the service rate is:

1 customer / 3 hours

= 1/3 customers per hour.

3. Travel Time and Waiting Time:

OEI is different from traditional waiting line models since service technicians need to travel an average of 1 hour to reach each customer. In this case, the travel time and waiting time predicted by the waiting line model should be combined to determine the total customer waiting time.

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There are 5 restaurants in your city with seating capacities of 52, 26, 38, 48, and 64. What is the combined seating
capacity of the five restaurants?
a) 64
b) 144
c) 189
d) 228

Answers

Answer:

It is D 228

Explanation:

I just know because I did this math quiz on VBC

economics is the study of a society's financial institutions. true or false​

Answers

Answer:

False

Explanation:

Economics is the study of a society's financial institutions. This statement is False.

What is Economics?

Economics is a social science that examines how products and services are produced, distributed, and consumed as well as the decisions that people, corporations, governments, and nations make when allocating resources.

While macroeconomics focuses on the behavior of the economy as a whole on an aggregate level, microeconomics focuses on the decisions made by individuals and enterprises.

Hesiod, a Greek farmer, and poet who lived in the eighth century B.C. is one of the oldest economists known to have written about the necessity for efficient allocation of labor, resources, and time to combat scarcity. The first modern Western economic ideas emerged with the publication of Adam Smith's book An Inquiry Into the Nature and Causes of the Wealth of Nations in 1776.

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QUESTION THREE.
The following data give the savings bank accounts balances of nine sample
households selected in a survey. The figures are in SSP
745.2,000.1.500.68,000.461,549,3750,1800,4795
(a) Find the mean and the median for these data;
(6) Do these data contain an outlier? If so, exclude this value and recalculate th
mean and median. Which of these summary measures has a greater change wh
outlier is dropped?;
(c) Which of these two summary measures is more appropriate for this series?​

Answers

Answer:

We can first order the data from smallest value to largest value:

461

549

745

1500

1800

2000

3750

4795

68000

a) The mean is 9289, and the median is 1800

b) The data does have an outlier, which is 68000, because it is more that three standards deviations away from the mean, excluding this value, our new mean is 1950 and our new median is 1650. We can see that the greatest change in value was for the mean.

c) the median is more appropriate because the median is less sensitive to outliers. The mean can be easily swayed by outliers in either way, and this can give an erroneous impression of the data.

When an interviewer says, “Tell me about yourself,” you should feel free to talk openly about your personal life.


False

True

Answers

Answer:

False

Explanation:

You should tell them about your personality and how others see you. Take for example your strengths and weaknesses as a person, or about your traits. If they ask you about your personal life keep it brief, they don't need too much info about that rather a small aspect of it.

Answer:

TRUE

Explanation:

Exam Lesson Name: Retail Industry Fundamentals Credential Exam
Exam number: 000000RR
Exam Guidelines
Exam Instructions
Question 16 of 16:
Select the best answer for the question
16. When distribution team members use replenishment reports to retrieve quantities of items to be sent to stores they
OA. Mixing
B. Sending
OC. Picking
OD. Packing

Answers

C. Picking. When distribution team members use replenishment reports to retrieve quantities of items to be sent to stores, they are picking items from the warehouse to fulfill orders.

Allowance for Doubtful Accounts has a credit balance of $463 at the end of the year (before adjustment), and bad debt expense is
estimated at 2% of sales. If credit sales are $552,500, the amount of the adjusting entry to record the estimated uncollectible accounts
receivable is
a. $11,050
b. $10,587
c. $11,513
d. $463

Answers

Answer:

I really need help can you guys please go to my page and answer them!:)

Explanation:

if you cause damage to your apartment, your landlord can

Answers

Answer:

...send you out for vandalizing the property?? i dunno lol

Explanation:

Answer:

you could get evicted

Explanation:

Type the correct answer in the box. Spell all words correctly.
Which step of selling includes cold-calling?
Cold-calling is a part of the
step of selling
Rese

Type the correct answer in the box. Spell all words correctly.Which step of selling includes cold-calling?Cold-calling

Answers

Answer:

Cold-calling is the prospecting step of selling.

Answer:

prospecting

Explanation:

plato gang

1. Define decision-making, and discuss programmed and nonprogrammed decisions.

2. More than half of all new businesses do not last six years. What are four general factors that cause failure of business?

3. Which of the following is an example of a company that has identified a new market?
a. Beta Inc. has acquired Venus LLC.
b. Omega Corp. has modified the packaging of all its products.
c. NutriMax has introduced its low-fat cookies in Asia.
d. Delta Inc. is offering discounts on its vacuum cleaners.
e. Redd Inc. has changed its company logo.
4. Microsoft outsources much of its code-writing functions to small firms. This is an example of big business turning to small business for________.
a. services.
b. supplies.
c. raw materials.
d. equipment.
e. capital.

Answers

Decision-making is the process of making choices about which actions to take in order to reach a goal.

What is goal?

Goal is the desired result or outcome that someone or something strives to achieve. It is an aim or desired end-result that someone works to achieve. Goals can be short-term or long-term, and can apply to any aspect of life such as work, relationships, education, health, fitness, finances, and more.

Programmed decisions are those that are repeated and can be automated or routinized, while nonprogrammed decisions are those that require more research and analysis to determine the best course of action.
The four general factors that cause failure of business include poor management, inadequate capital, insufficient market research, and poor planning.
C. Such organization that has recognized a new market is NutriMax, which just launched its low-fat cookies throughout Asia.
Microsoft contracts with a lot of small businesses to write its code. This is an example of big business turning to small business for services.

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12. Paid Office Station Co. for part of the debt incurred on April 5, $1,200. 12. Provided services on account, $4,200.​

Answers

1. Paid Office Station Co. for part of the debt incurred on April 5, $1,200.

Debit: Accounts Payable - Office Station Co.$1,200

Credit: Cash $1,200

2. Provided services on account, $4,200.

Debit: Accounts Receivable $4,200

Credit: Service Revenue  $4,200

To pay off the remaining balance owing to Office Station Co., a debit is sent to the accounts payable account. To account for the cash outflow, the Cash account is credited. This journal entry records the settlement of a portion of the debt incurred on April 5 with Office Station Co.

The acknowledgment of revenue for services rendered to a client on the account is represented by this journal entry. To reflect the increase in the amount due by the client, the Accounts Receivable account is debited.

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The complete question is probably

Write journal entries

12. Paid Office Station Co. for part of the debt incurred on April 5, $1,200. 12. Provided services on account, $4,200.​

The operating budget provides a roadmap for financial plans for a short-term, future period. What is a typical “future period” for an operating budget?

Answers

An operating budget is a financial statement that outlines the organization's expenditures and revenues for a specific period.

The operating budget is typically for a fiscal year, which is usually twelve months. The future period for an operating budget is usually a fiscal year or less than a year. The operating budget is critical because it establishes guidelines for financial activities and operations in an organization. It provides a roadmap for financial plans for a short-term, future period, which typically begins on January 1st and ends on December 31st.

An organization creates an operating budget to aid in the allocation of resources and expenditures to achieve its objectives for a given period. A typical operating budget is for a fiscal year. A fiscal year is the period when an organization prepares its financial statements. It is usually 12 months, but it may be shorter or longer depending on the organization. An operating budget typically covers one fiscal year; however, it may be longer or shorter based on the organization's preferences.

The future period for an operating budget is frequently updated to reflect the company's current situation and financial standing. It takes into account the actual results of the previous period and the estimated expenditures and revenues for the upcoming year to develop the operating budget for a future period.

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Which of the following describes a saturated market?
A. The prices of competitors are very high.
B. Many people want this product and haven't purchased it yet.
C. Most potential buyers have not heard of the product and don't know it exists.
D. Most potential buyers already have a product that satisfies this need or want.

will give brainliest

Answers

Answer:

D. Most potential buyers already have a product that satisfies this need or want.

Explanation:

A saturated market is one that is not creating additional demand for a product. It means demand for a particular product has reached its optimal level. In a saturated market, the sales growth of a product stagnates.  All potential buyers have a product they are happy to consume. New entrants will have a challenge penetrating a saturated market.

Answer:

D. Most potential buyers already have a product that satisfies this need or want.

Explanation:

2. Ernesto purchased a used car for $6800. He paid 64% sales tax. How much tax did he pay?​

Answers

6800*.64= 4352

Ernesto payed $ 4352 in tax

Resources are limited in
_________?

Answers

Answer:

A basic condition of nature which means that the quantities of available labor, capital, land and entrepreneurship used for the production of goods and services are finite. It means that the economy has only so many resources that can be used AT ANY GIVEN TIME time to produce goods and services.

Explanation:

If the government places a $2 tax per bag of potato chips on the producers, what would the consumers of potato chips observe? a. There would be no change in price and the consumer would not notice. b. The government would tax individuals who bought too many potato chips. c. Consumers would pay the full $2 tax in the form of a price increase. d. The price of potato chips would rise by some amount, but by less than $2.

Answers

Answer

d. the price of potato hips would rise by some amount

Explanation:

If the government places a $2 tax per bag of potato chips on the producers, then the price of potato chips would rise by some amount, but by less than $2. Option (d) is correct.

What do you mean by Tax?

In order to pay for general government services, goods, and activities, local, state, and federal governments must collect mandated payments or charges from citizens and corporations.

While taxes cause deadweight loss, the exact amount depends on a number of factors. The ability of a provider to deliver the desired goods to the customer and the amount that a consumer is ready to spend on a product are two of the most crucial factors. This is an illustration of the economic principle of supply and demand.

The supply curve shows an upward tendency when the price of potatoes rises by $2 tax because more potatoes are supplied. If a non-price element changes, the supply curve shifts to the right.

Therefore, Option (d) is correct.

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0
Question 1
What is the most important question you should have after seeing this ad about a check cashing business?
Why Choose ACE to Cash Your Check
The approval process is easy Get your funds without the hassle
No credit check necessary
No waiting Get your funds today
Close, convenient parking
Great customer service
O How many locations do you have?
O Can I get a written copy of all of the fees that you charge for your services?
O What are your hours of operation?
O How many tellers do you have?

Answers

The most important question you should have after seeing this ad about a check cashing business is"

Why Choose ACE to Cash Your Check?No credit check necessary?Can I get a written copy of all of the fees that you charge for your services?

Is a check cashing business considered a financial institution?

A money service business is one that is seen as a kind of  a financial institution that is known to be  involved with one or a lot of of the following entities such as:

Check casher Foreign currency dealer, etc.

So, the most important question you should have after seeing this ad about a check cashing business is"

Why Choose ACE to Cash Your Check?No credit check necessary?Can I get a written copy of all of the fees that you charge for your services?

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A disadvantage of the corporate form of business ownership is that:
a) shareholders receive dividends.
b) most shareholders have little direct control over how the company is managed.
shareholders are not personally liable for the debts
of the corporation except to
the extent of their investment.
c)the life of the corporation is ongoing even after the death of a shareholder.

Answers

Answer:

b) most shareholders have little direct control over how the company is managed.

NoreCorp wants to meet a moral minimum of ethical behavior

Answers

The company could offer higher-quality products to customers for lower cost, positively impacting customers.

Several studies indicate that the use of collaborative research agreement (between several firms, research centers, suppliers, competitors, universities, etc.) is increasing around the world. What are some reasons collaborative research is becoming more prevalent?

Answers

Answer & Explanation: Collaborative research refers to a research or study done by different independent bodies. Take for instance a scientist intends to undertake a study, he sorts the collaboration of a university.

Several benefits exist in collaborative research some of which includes;

1). It creates opportunity for an individual to develop as a scholarly author. This is because in working together the work gets more attention and recognition.

2). It makes the work to be done reduced. Considering the fact that people will handle different aspects of the research, the work per person will be less.

3). There will be variety of techniques. Having people work on same research enhances the research as different techniques are bound to be used to achieve result.

4). It gives room for more creativity. Because of the increased number of people working on the same tasks, diverse ideas will be brought forward, there will be knowledge sharing and this in turn will improve the creativity.

38. A log book used to record information about visitors who call in an organization is called A. Complimentary card B. Telephone directory C. Telephone pad D. Visitor's register E. Visitor's request form​

Answers

A logbook used to record information about visitors who call in an organization is called an Option D. Visitor's Register.

A visitor's register is an essential tool for maintaining security and professionalism in a workplace. It helps in keeping track of the people entering and leaving the premises, which aids in monitoring the flow of visitors and ensuring their proper identification.

A visitor's register typically includes columns for the visitor's name, contact details, purpose of visit, time in, time out, and the name of the person they are meeting. This information is valuable in case any follow-up is required or for emergency situations where it's crucial to know who is on the premises.

In contrast, a complimentary card (A) is a business card exchanged during formal introductions. A telephone directory (B) is a listing of telephone numbers organized by name or business. A telephone pad (C) is a notepad used for taking messages or notes during phone calls, and a visitor's request form (E) may be a document required to be filled out by visitors for specific purposes or access.

In summary, a visitor's register (D) is the correct term for a log book used to record information about visitors who call an organization. It helps maintain security, monitor visitor flow, and ensure proper identification of guests. Therefore, the correct option is D.

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Analyse how an increase in government spending may create economic growth

Answers

Answer:

see below

Explanation:

An increase in government spending is an expansionary fiscal policy applied to stimulate economic growth. The government increases spending by engaging in capital and labor-intensive projects such as the building of public roads, bridges, schools, hospitals, railway lines, airports, and other public goods.

Since these projects are labor-intensive, they create employment for many people. It means previously unemployed people will have an income. The workers will spend their new income buying goods and services in the market, resulting in a general increase in demand.  As demand increases, production increases resulting in a higher GDP.

The projects also consume many materials ranging from steel, timber, cement, and many others. The demand for materials will increase, resulting in higher production and an increase in employment.

An increase in government spending creates employment, increases income and aggregate demand resulting in increased economic activities and a higher GDP.

Which situation is an example of indirect taxation?
OA. Stores charge sales tax on each purchase and give that money to
the government.
OB. Homeowners must pay a percentage of their home's worth to the
government.
OC. Businesses must send a portion of their income each year to the
government.
OD. Every citizen sends the government money to support the armed
forces.
SUBMIT

Answers

Option A is the correct answer. Indirect taxation is the situation where taxes are imposed on products or services and not directly on individuals. Therefore, the example of indirect taxation in the situation given is when stores charge sales tax on each purchase and give that money to the government.

Stores charge sales tax on each purchase and give that money to the government is an example of indirect taxation.Indirect taxation is a method of taxation in which individuals are not taxed directly, but instead, the tax is paid through an intermediary.

The tax is generally imposed on products or services. This tax, which is passed on to the customer as part of the price of the good or service, is then collected by the seller and forwarded to the government.

Sales tax, excise tax, and customs duty are all examples of indirect taxes.

Therefore, Option A is the correct answer.

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Shondra was unsure about what career to go into. Her high school counselor suggested a personal assessment to point out Shondra’s interests. The assessment revealed that Shondra is very passionate about justice and making sure that people stay safe and treat each other fairly. Shondra also enjoys physical fitness and can handle risky high-pressure situations well.
Shondra would be well suited for which career cluster. Select three options.

law
security
education
public safety
physical education FIRST RESPONDER GET'S BRAINLY!!!!!!!!

Answers

Based on Shondra's character, interests, and skills, she would be most suited to careers in:

LawPublic safetyPhysical education

What are careers?

Acareer can be described as the an occupation  that someone devoted his or her self on which is been focusd for a significant period of a person's life.

It should be noted that this can help for opportunities  so one can  progress, and considering Shondra's character, interests, and skills we can see that she can fit in as a lawyer as well as Public safety officer because we can see that she portrait some of the attribute needed to fit in into this field.

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leearning task 1 give the examples of technology

Answers

Technology continues to evolve and shape our lives, transforming industries, and opening up new possibilities for innovation and growth.

Technology encompasses a wide range of tools, systems, and applications that are designed to improve efficiency, productivity, and communication in various fields. Here are some examples of technology in different areas:

1. Information Technology (IT): Examples include computers, laptops, servers, networking equipment, software applications, operating systems, databases, cloud computing, cybersecurity systems, and data storage devices.

2. Communication Technology: Examples include smartphones, landline phones, video conferencing systems, email platforms, instant messaging applications, social media platforms, VoIP (Voice over Internet Protocol) systems, and telecommunications infrastructure.

3. Transportation Technology: Examples include automobiles, airplanes, trains, ships, electric vehicles, GPS navigation systems, traffic management systems, logistics and supply chain software, and autonomous vehicles.

4. Medical Technology: Examples include medical imaging devices (X-rays, MRI machines, CT scanners), electronic health records (EHR) systems, robotic surgery systems, telemedicine platforms, wearable health monitoring devices, and medical research equipment.

5. Educational Technology: Examples include interactive whiteboards, online learning platforms, educational software, e-books, virtual reality (VR) and augmented reality (AR) tools for learning, student management systems, and distance learning platforms.

6. Renewable Energy Technology: Examples include solar panels, wind turbines, hydroelectric power systems, geothermal energy systems, biomass energy systems, energy storage solutions, and smart grid technologies.

7. Agricultural Technology: Examples include precision farming tools, automated irrigation systems, drones for crop monitoring, livestock tracking systems, genetic engineering and biotechnology in agriculture, and farm management software.

8. Entertainment Technology: Examples include streaming services, gaming consoles, virtual reality (VR) headsets, smart TVs, home theater systems, digital music players, and video editing software.

9. Financial Technology (Fintech): Examples include mobile banking apps, digital payment platforms, cryptocurrency systems, robo-advisors, online lending platforms, and blockchain technology.

10. Manufacturing Technology: Examples include robotics and automation systems, 3D printers, CNC machines, computer-aided design (CAD) software, inventory management systems, and quality control systems.

These are just a few examples of the vast array of technologies that exist today. Technology continues to evolve and shape our lives, transforming industries, and opening up new possibilities for innovation and growth.

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27. Subscription owing N6,000 at 31/12/2014.
Subscription in advance 14,000 at
31/12/2014. Cash received as subscription
during the year was N80,000.
The subscription for the year 2014 was
(a) N90,000 (b) N82,000
(c) A78,000 (d) N70,000

Answers

Answer:

$72,000

Calculation for The subscription for the year 2014

Using this formula

2014 Subscription=Cash received-Subscription in advance+Subscription owing

Let plug in the formula

2014 Subscription=$80,000-$14,000+$6,000

2014 Subscription=$72,000

Therefore The subscription for the year 2014 was $72,000

FRY-9C, FRY-14M, FRY-14Q, FRY-2052a, FP&A, CRR

What are these terms exactly mean? How do they work in business? What each term do?

Answers

The terms mentioned above are used in economics and have to do with finance.

What are FRY-9C, FRY-14M, and FRY-14Q?

In order to keep an eye on financial institutions in between on-site inspections, the FR Y-9C is the main analytical tool employed. The form, which is the most frequently requested and scrutinized report at the holding company level, contains more schedules than any other report in the FR Y-9 series.

The FR Y-14M report gathers monthly in-depth information on the loan portfolios of bank holding companies (BHCs), savings and loan holding companies (SLHCs), and intermediate holding companies (IHCs). Three loan- and portfolio-level collections, as well as one in-depth address matching collection, make up the report.

On a quarterly basis, the FR Y-14Q compiles comprehensive information on the various asset classes, capital components, and pre-provision net revenue (PPNR) categories of the bank holding companies (BHC), savings and loan holding companies (SLHCs), and intermediate holding companies (IHC).

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Which of the following is a good example of a program?a. Planting a gardenb. Developing a new residential area that includes six custom homesc. Developing a new marketing pland. Taking notes each class meeting to prepare for the finale. Planning a wedding

Answers

Answer:

b. Developing a new residential area that includes six custom home

Explanation:

A program refers to a group in which the projects that are related are designed to achieve a common objective within a period of time

Now if we going through the options, the option B is correct as it involves establishing a new residential area that consists of six custom homes i.e. it is customized according to the needs of the client, customers, company, etc

Therefore option B is correct

The brand changes form part of a strategic plan the group conceived in September last year called Ekuseni (the Zulu word for “dawn”)”
“Pick n Pay and its new CEO are taking the fight to competitors in a strategy..”
“Pick n Pay yesterday launched a new strategic plan…”
Evaluate the proposed strategy that Pick n Pay is planning to implement, including in your evaluation, the potential risks attached to the proposed new strategy

Answers

Pick n Pay's proposed strategy, known as Ekuseni, aims to implement changes in their brand and take the fight to competitors. The strategy, conceived in September last year, focuses on strategic planning and was launched recently. While the strategy holds potential for success, there are risks associated with its implementation.

1. Pick n Pay's proposed strategy, called Ekuseni, includes changes to their brand and a competitive approach to rivals. This strategic plan was conceived in September last year, with the term Ekuseni referring to "dawn" in Zulu.

2. The strategy aims to revamp the brand image and position Pick n Pay as a strong competitor in the market. By taking the fight to competitors, the company intends to gain a competitive edge and attract more customers.

3. The launch of the new strategic plan indicates that Pick n Pay is committed to implementing this strategy and achieving its goals. It demonstrates the company's intention to adapt and stay relevant in the evolving market.

4. However, like any strategic plan, there are potential risks associated with its implementation. These risks include customer resistance to changes in the brand, increased competition from rivals, and potential financial strains due to the cost of rebranding and marketing efforts.

5. Customer resistance is a common risk when brands undergo significant changes. If the proposed strategy doesn't resonate with Pick n Pay's target market, it could lead to a decline in customer loyalty and affect sales.

6. Additionally, taking the fight to competitors may trigger retaliatory actions from rival companies. This could result in intensified competition, price wars, and potential market share loss for Pick n Pay.

7. Finally, implementing a new strategic plan involves financial investments. The cost of rebranding, marketing campaigns, and operational changes may strain the company's resources, potentially impacting its financial stability.

In conclusion, while Pick n Pay's proposed strategy holds promise for the company's growth and competitiveness, there are risks involved. Proper planning, market research, and effective execution will be crucial to mitigating these risks and ensuring the success of the strategy.

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Small Business Management (1)

There are at least eight different pricing strategies for established goods and services. Explain FOUR (4) of those strategies and under what conditions a business owner should use them.

Answers

The four pricing strategies commonly used by businesses for established goods and services are Penetration Pricing, Skimming Pricing, Premium Pricing and Bundle Pricing.

Here are four pricing strategies commonly used by businesses for established goods and services, along with the conditions under which they can be applied:

Penetration Pricing: Penetration pricing involves setting a low initial price for a product or service to quickly capture market share. This strategy is typically used when a business wants to enter a competitive market or launch a new product. Skimming Pricing: Skimming pricing is the opposite of penetration pricing. It involves setting a high initial price for a product or service and gradually lowering it over time. This strategy is often employed for products with unique features or a competitive advantage. Premium Pricing: Premium pricing involves setting a higher price than competitors to position the product or service as exclusive or of higher quality. This strategy is commonly used when a business wants to create a perception of luxury, prestige, or uniqueness. Bundle Pricing: Bundle pricing involves packaging multiple products or services together and offering them at a discounted price compared to purchasing each item individually. This strategy encourages customers to buy more items by providing them with a perceived value or cost savings.

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