The entries required to reduce inventory to a decreased value by reducing a company's overall assets and gross margin. Beside that, by reducing internet profit of the company also can make inventory decrease to the lower of cost or market affect.
Marginal cost refers to the value to provide one additional unit of manufacturing. It is a crucial idea in price accounting as marginal value helps decide the maximum green stage of manufacturing for a production process. It is calculated by determining what costs are incurred if one extra unit is best and what prices are incurred if best one extra unit is manufactured. The relation between marginal cost and inventory is marginal price represents the incremental expenses incurred while generating extra devices of an excellent or service. It is calculated by taking the whole alternate in the price of manufacturing greater items and dividing that through the alternate in the variety of products produced.
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jamie is the vice president of marketing for a large hotel corporation. he analyzes data for his market and determines that there are multiple demographic segments with specific preferences. he decides to target only one demographic segment, the millennials, and disregards all the other segments. this is an example of:
For a large hotel chain, Jamie is the vice president of marketing for the company. After reviewing market statistics, he concludes that there are several demographic groups with distinctive tastes. He chose to focus solely on the millennial generation while neglecting all other demographics. Here is an example of:
What is market segmentation?The strategy of dividing your target market into attainable groups is known as market segmentation. Market segmentation separates a market into subsets based on demographics, requirements, goals, similar interests, and other psychographic or behavioral aspects in order to better understand the target audience.
By studying your market segments, you may apply this targeting to your efforts in sales, marketing, and product development. Market segmentation can drive your product development cycles by influencing how you create product offers for different segments, such as men versus women or high income versus low income.
demographic segmentation:
Demographic segmentation is one of the simple, regularly used methods for market segmentation. It comprises breaking down the market into different segments based on the target market's age, income, gender, race, and occupation. According to this method of market segmentation, people with similar demographics will have similar needs.
A new video game console's market segmentation strategy may reveal that its customers are primarily young men with disposable cash.
Examples of market segmentation
Consumers' daily use of products, marketing, and advertising are all examples of market segmentation. The capacity of automakers to precisely pinpoint market niches and create goods and marketing plans that appeal to those segments is essential to their success.
Cereal firms aggressively promote to three or four market segments at once in an effort to foster brand loyalty among younger consumers. They advocate for traditional brands that target older consumers and healthy brands for consumers who care about their health.
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a small plumbing and heating company needed an installer, but they had poor experiences in the past with new hires who did not know what they were doing. they decided to have each applicant go on a call with a current installer and demonstrate their abilities under supervision. this is a(n) test.
They decided to have each applicant cross on a call with a cutting-edge installer and demonstrate their talents under supervision. that is a(n) performance check.
Supervision is a Latin phrase. incredible manner 'from the above' and vision way 'to see'. In the regular sense of the term, supervision manner overseeing the sports of others. In control, supervision means “Overseeing the subordinates at work with authority and with a purpose to guide the personnel if he's doing wrong.”
There are 3 sorts of supervision: administrative, medical (also referred to as instructional supervision) and supportive supervision. The maximum primary feature of administrative supervision is to make certain that work is completed. Supervision targets to offer duty for each supervisor and supervisee exploring practice and performance. It also complements and provides extra evidence for annual overall performance management and evaluation.
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what's the name of the clause included in a finance instrument that requires the lender to release a portion of the property from the lien when a part of the debt has been paid?
The partial release is the name for the clause included in a financial instrument that requires the lender to release a portion of the property from the lien when a part of the debt has been paid.
A partial release is a clause in a mortgage that permits the release of certain collateral from a mortgage upon the repayment of a specific portion of the debt. Lenders demand payment documentation, a survey map, an appraisal, and a letter explaining the circumstances of the partial release. A clause is known as the "Partial Release Clause" allows the mortgagee to agree to release some parcels from the blanket mortgage's lien in exchange for the mortgagor paying a specific amount of money.
Loans for the building of tract developments typically contain it. If a borrower wants to sell a property that is subject to a blanket mortgage (a mortgage covering numerous properties), the lender must provide a partial release on the property.
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christine thinks her job's strict lateness policy is an indication of her boss's overly controlling personality, rather than a necessity dictated by the company's high sales goal (her boss has to report how many shoes were sold each day to the corporate headquarters). her judgment best illustrates .
The fundamental attribution fallacy describes a person's propensity to attribute another person's behavior to their personality or character while attributing their own behavior to outside, uncontrollable situational conditions.
What does "fundamental attribution" mean?The fundamental attribution fallacy refers to a person's predisposition to explain their own behavior by external, uncontrollable situational factors while attributing the actions of others to their nature or character. Maria's car breaks down while on a highway. She is internalizing the mistake if she blames her ignorance of autos for the breakdown. If she believes the breakdown was caused by her car's aging, she is utilizing an external attribution. Fundamental attribution error happens when we view other people's behaviors and our own behavior differently. We essentially see people moving while their surroundings stay the same when we watch them behave. They consequently become the
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The fundamental attribution fallacy describes a person's propensity to attribute another person's behavior to their personality or character while attributing their own behavior to outside, uncontrollable situational conditions.
What does "fundamental attribution" mean?The fundamental attribution fallacy refers to a person's predisposition to explain their own behavior by external, uncontrollable situational factors while attributing the actions of others to their nature or character. Maria's car breaks down while on a highway. She is internalizing the mistake if she blames her ignorance of autos for the breakdown. If she believes the breakdown was caused by her car's aging, she is utilizing an external attribution. Fundamental attribution error happens when we view other people's behaviors and our own behavior differently. We essentially see people moving while their surroundings stay the same when we watch them behave. They consequently become theTo learn more about fundamental attribution refer to
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darius wanted to buy a roll of packing tape at the grocery store. he searched the aisle that had office supplies and couldn't find it. after finding a store employee, he learned that the packing tape was located in a display of holiday items and placed on a top shelf. a product like the packing tape may be located where customers like darius cannot easily find it or an employee may provide mistaken information about a product's features or benefits. in this case, the service delivery failure was
An employee may provide mistaken information about a product's features or benefits. in this case, the service delivery failure was process-related failure.
In the process-related failure is a breakdown in the customer's exploring or finding the product or customer's perception of the quality of a service process. Sometimes process-related failure is also occurred due to careless and rushing service and unwillingness of employees to meet customer requests. The process-related failure leads to company's losing profit and rising costs.
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In this week’s episode of saving sara, you saw that getting a job promotion doesn’t necessarily create a leader. Both a management approach and a leadership approach were taken by sara to handle a situation. Watch both examples and describe the differences between management and leadership. Then, focus on one leadership trait that sara exhibited. What advice would you give sara to improve on that specific trait?.
Leadership and management square measure 2 necessary parts that a brand new charge nurse should distinguish between to become an honest leader.
Leadership is the capability of motivating coworkers to own a sure-fire outcome in work, whereas management is that the method of organizing and coordinating coworkers (ATI, 2019). One look at the eventualities, a lot of effective approaches on my behalf was leadership because it shows a lot of respect and dignity towards coworkers.
This was seen in the situation wherever the charge nurse had oral communication with the team, deciding the steps to deliver the goods and an honest score. It was apparent that each party was content with the results of the oral communication.
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an auditor must obtain professional experience primarily to group of answer choices receive a positive employment evaluation. exercise professional judgment. receive a favorable peer review. earn a specialty designation by the aicpa.
To exercise professional judgment, an auditor has to have professional experience.
The auditor must use professional judgment in order to successfully carry out his tasks. He must interpret GAAS and ethical standards in order to make wise judgments. This may be acquired via education and practical experience.
Using professional judgment entails accepting accountability for your actions and being able to do so in all situations. Even when an RD uses outstanding professional judgment, unfavorable client outcomes may nonetheless occur through no fault of her own.
Choosing whether to use a strategy like zero-based budgeting in any area of a company is one example that comes to mind.
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in the past, an example of real estate market success in the midst of wide-spread real estate market failure was:
Apartments during the Great Recession served as an example of the real estate market thriving amid widespread failure in the past.
A recession is a sizable, pervasive, and protracted decline in economic Recession activity. According to a common rule of thumb, a recession is defined as two consecutive quarters of declining gross domestic product (GDP). Declines in economic output, consumer demand, and employment are typical effects of recessions.
A recession is defined by economists at the National Bureau of Recession Economic Research (NBER) as an economic contraction that market begins at the height of the expansion that came before it and ends at the lowest point of the subsequent downturn.
The NBER uses a variety of indicators to determine the beginning and market end of a U.S. recession, including nonfarm payrolls, industrial production, and retail sales.
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to hedge a foreign currency payable, group of answer choices buy call options on the foreign currency. buy put options on the foreign currency. sell call options on the foreign currency. sell put options on the foreign currency.
To hedge a foreign currency payable buy calls option on the currency.
Option A is correct.
What's hedging of foreign currency?Hedging with forex is a project used to cover one's position in a currency brace from an adverse move. It's generally a form of short- term protection when a dealer is concerned about news or an event driving volatility in currency requests.
How do you hedge foreign currency threat?The two most common styles to hedge foreign currency exposure are forward contracts and currency options. Forward contracts and options are a form of derivations, videlicet untoward derivations, meaning that they aren't traded on centralized requests but rather intimately negotiated between two counterparts.
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the primary reason for an audit by an independent, external audit firm is to group of answer choices satisfy governmental regulatory requirements. guarantee that there are no misstatements in the financial statements and ensure that any fraud will be discovered. relieve management of responsibility for the financial statements. provide increased assurance to users as to the fairness of the financial statements.
The assurance that statements are created in line with accounting principles and concepts increases the assurance that users have regarding the fairness of the statements of financial status provided by the audit company.
How do you offer an acceptable level of assurance?A sufficient amount of adequate audit evidence must be obtained by the auditor in order to minimize audit risk to an acceptable low level in order to attain reasonable certainty. As a result of the possibility that a major misrepresentation will go unnoticed, there is some uncertainty associated with the use of sampling.By assuring users that statements are created in line with accounting principles and concepts, the audit firm can boost users' confidence in the accuracy of the statements of financial condition.The assurance that statements are created in line with accounting principles and concepts increases the assurance that users have regarding the fairness of the statements of financial status provided by the audit company.To learn more about Assurance refer to:
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What causes the total amount of interest paid on a mortgage to be so much higher than on other types of debts?.
The mortgage is higher because the owing loan amount is higher.
The principle of your mortgage refers to the amount you borrow. Your monthly payment will be divided into two parts: the main, or outstanding mortgage debt, and the loan's interest. In exchange for lending you money, the lender will charge you interest. The majority of people's monthly payments also include extra sums for insurance and taxes.
Your equity is increased and your loan balance is decreased when a portion of your payment is applied to the principal. Your balance or equity is neither lowered nor increased by the portion of the payment that is used for interest. Therefore, the equity you accumulate in your property will be considerably less than the total of your monthly payments.
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Pooja, Cathy, Huzefa, and Angela have come together to form a group based on their common interest of dining at new restaurants and writing about them in their blog. What kind of a group is this?
Pooja, Cathy, Huzefa, and Angela have come together to form a(n) ______ group.
Pooja, Cathy, Huzefa, and Angela have come together to form a(n) common interest group.
What is group?The term group refers to the two or more people are the involved on the particular activity. A group is an involved of the person are the based on the informal group. It was the people are to enjoy the person to the another person company.
The definition of a “interest group” is members of the group are chosen based on their interests. There was the interset are the common on the work to the new restaurants and also the blog writing.
As a result, the Pooja, Cathy, Huzefa, and Angela have come together to form a(n) common interest group.
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How did the territorial acquisition resulting from the spanish-american war affect the united states economy?.
The maximum huge final results of the Spanish American War turned into that the USA have become a global naval energy, seemingly overnight, a function it has in no way relinquished. The United States had now no longer been a primary energy.
In this time duration, energy turned into described through naval energy and the capacity to “venture,” or deploy, that energy anyplace needed. In the duration main as much as the Spanish American War, the United States had now no longer been a primary energy. The cause specifically needed to do with coal, or greater nicely coaling stations, which have been locations in which coal turned into stockpiled and in which there has been the infrastructure for loading it aboard a ship. Without an area to re-coal, a ship’s variety turned into seriously restrained due to the fact in instances of war, neutrality legal guidelines handiest allowed impartial countries a restrained capacity to resupply a country at war. Therefore a country’s naval energy turned into strictly restrained through in which it had coaling stations below its manage from which it may resupply with coal and probable ammunition in instances of war.
Otherwise, a naval vessel could discover itself withinside the equal catch 22 situation that Commodore George Dewey skilled aboard the OLYMPIA. With a complete deliver of coal aboard ship (which he did now no longer), the ship, with cautious manage over its pace, and cruising at a pace of 10 knots, the OLYMPIA should cruise 6,000 miles. If matters did now no longer move as was hoping at Manila Bay, Dewey could have discovered himself 7,000 miles from an American base to resupply. A army concern to those forms of constraints couldn't venture energy. The Spanish American War had a primary effect on American advert global history. After the war, the USA turned into converted right into a global energy. Its new far-flung colonies allowed for it to have a international army permitting for the country to come to be a international financial energy. This set the level for what could come to be referred to as the “American Century.”
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monopolists attempt to capture consumer surplus in the form of profits by using price discrimination. true false
walt disney company recently announced it would no longer allow its characters to be used in promoting unhealthy foods. in branding strategy, what does this change? from both ethical and marketing perspectives, does this change make sense?
Nearly one-third of the children in the United States are overweight or obes.
What is meant Branding strategy ?
Every business owner who wants to expand their enterprise successfully must have a solid brand strategy. Businesses may determine their long-term objectives and the kind of firm they run with its assistance. Entrepreneurs strive towards their accomplishment and monitor their progress after identifying important goals. They are informed as to whether they are moving in the correct path by a thorough brand strategy.
A company's intangible assets that give it market competitiveness and consumer value are referred to as its brand. The benefits of developing a strong strategy include increased sales, increased client loyalty, and the development of a positive reputation and market position. People identify a certain business with favorable feelings and ideas, which leads to purchase decisions. Brand equity rises as a result.
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1. the designer suit department received 220 suits for the fall season. at the end of the month 150 suits were on hand. what was the sell-through percent of the suits?
Original on hand divided by current on hand equals (220-150) divided by 220, or 31.82%.
How does the right hand Fleming rule operate?The direction of induced current in a straight conductor can be determined using Fleming's right hand rule. If we stretch the thumb, forefinger, and middle finger at a straight angle to one another, the forefinger of the right hand should be pointed in the direction of the magnetic field.
What is the Fleming rule of right and left hands?The thumb, forefinger, and middle finger of the right hand should be arranged perpendicular to one another according to Fleming's Right Hand Rule so that the thumb points in the direction of the magnetic force, the forefinger points in the direction of the magnetic field, and the middle finger points.
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the amount of money that the borrower receives at the time a discounted note is made is known as the numerator
False. The numerator of a discounted note is not the sum of money that the borrower receives at the time it is issued.
A discounted note is what?Any short-term debt obligation that is issued at a discount from par is known as a discount note. Discount notes, which resemble zero-coupon bonds and Treasury bills (T-Bills), are typically issued by government-sponsored organizations or borrowers with strong credit ratings.
Up to one year is the maximum maturity period for discount notes. Investors are not given periodic interest payments with discount notes. Instead, investors buy discount notes at a reduced cost and receive the full face value (also known as "par value") of the note when it matures.
Discount notes are fixed-income securities that don't pay interest while they're outstanding. The notes are sold at a discount to par because investors do not receive the additional benefit of recurring interest income.
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if the interest rate is zero, then $100 to be paid in 10 years has a present value that is a. less than $100. b. exactly $100. c. more than $100. d. indeterminate
The present value that should be received of $100 in 10 years is (B) exactly $100. It is because at an interest rate of 0% is $100 there is no return in the form of interest on the investment.
Interest rate generally can be described as the cost a customer pays to a lender for borrowing funds over a period of time. Usually in economic and business, interest rate is expressed as a percentage rate of the loan amount.
The formula of final amount with an interest rate is:
Final amount = initial principal balance (1 + annual interest rate . time in years)
The calculation:
Final amount = $100 ( 1 + 0 . 10)
Final amount = $100 (1+0)
Final amount = $100
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Why do they recommend making some payments on unsubsidized loans while you’re still in college?.
It is recommended to make some payments on unsubsidized loans while still in college because it can help prevent the principal from accumulating (as interest is added to the principal amount) while an individual is in school.
Unsubsidized loans are loans given to undergraduate and graduate students that are not based on financial need. Its eligibility is established the by cost of attendance minus other financial aid. In such loans, the interest is charged with the loan disbursement i.e., during in-school, deferment, and grace periods. The interest on an unsubsidized loan is added to the loan balance each year and by making some payments on the outstanding balance reduces the amount of interest that will be capitalized. An unsubsidized student loan is not subsidized by the federal government.
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the belief behind employee ownership is the idea that it will: group of answer choices act as a nurturing tool for knowledge workers force employees to determine which motivating factors are most important remove resistance to change promote education and training cause employees to act more like partners than clock watchers
The belief behind employee ownership is the idea that it will cause employees to act more like partners than clock watchers. Hence. the correct choice of answer for this question is option (e).
Give a brief account on employee ownership.Employee ownership refers to any situation in which employees of a firm have the right to receive the value of their company's shares in the form of shares or other property. The idea of employee ownership is broad and can be expressed in a variety of ways, from straightforward grant of shares to highly sophisticated programs.
The employee stock ownership plan (ESOP), a highly tax-advantaged arrangement in which employees own shares through a trust maintained by the company, is the most popular type of employee ownership in the U.S. Stock options, stock grants, synthetic equity (which gives the right to the value of shares but not the actual shares), worker cooperatives, and employee ownership trusts are further types of employee ownership.
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abc, inc. has purchased a factory for $150,000 with an expected useful life of 6 years or 50,000 hours of use. they use the machine 5,000 hours per year to produce their product. the expected salvage value is $25,000. what will the depreciation expense be for each year? what will be the balance of accumulated depreciation? assume you are using the following methods: a. straight-line b. double-declining balance c. units-of-production
The straight-line is $31,250. While the double-declining balance is $8,670 the units-of-production is $2.5.
The computation of the depreciation expense for the second year can be seen below:
a) Straight-line method:
= (Original cost - residual value) ÷ (useful life)
= ($150,000 - $25,000) ÷ (6 years)
= ($125,000) ÷ (4 years)
= $31,250
In this method, the depreciation is same for all the remaining useful life
(b) Double-declining balance method:
First we have to find the depreciation rate which is shown below:
= One ÷ useful life
= 1 ÷ 6
= 0.17
= 17%
Because of the rate is double So, 2 x 17% = 34%
In year 1, the original cost is $150,000, so the depreciation is $25,500 after applying the 34% depreciation rate
In year 2, the $25,500 × 34% = $8,670
(c) Units-of-production method:
= (Original cost - residual value) ÷ (estimated production)
= ($150,000 - $25,000) ÷ ($50,000)
= ($125,000) ÷ ($50,000)
= $2.5 per miles
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what are the immediate effects of chapter 11 bankruptcy on the filing entity and on the entity's creditors
A chapter 11 bankruptcy debtor typically offers a reorganization plan to continue operating its firm and pay creditors over time.
What happens Chapter 11 bankruptcy?Reorganization is normally permitted under this chapter of the Bankruptcy Code, which typically involves a corporation or partnership.A chapter 11 debtor typically offers a reorganization plan to continue operating its firm and pay creditors over time.Individuals or businesses may also apply for chapter 11 relief.A Chapter 11 bankruptcy enables a business to continue operating while reorganizing its debts.Any reorganization plan put out by a firm filing for Chapter 11 must be in the creditors' best interests.The creditors may suggest a plan in the absence of a proposal from the debtor.To learn more about Bankruptcy refer,
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arrington stock is currently valued at $28.40 per share. the firm had earnings per share of $1.86 last year and projects earnings of $2.09 per share for next year. what is the trailing twelve month price-earnings ratio?
The price-earnings ratio during the last twelve months was 15.27.
The total price-to-earnings for a firm is its trailing price-to-earnings, which is determined by dividing the current stock price by the trailing earnings per share for the last 12 months. This metric is distinct from forward P/E, which is based on projected earnings for the following four quarters.
In comparison to businesses with a lower P/E, a high P/E suggests that investors are anticipating higher earnings growth in the future.
Trailing P/E Ratio
= current share price/earnings per share for the previous twelve months
= 15.27
As a result, the price-earnings ratio for the trailing twelve months is 15.27.
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avril and john are ages 70 and 72, respectively, and file a joint return. they have an agi of $17,000 and received $1,000 in nontaxable social security benefits. how much can avril and john take as a credit for the elderly or the disabled?
$375 can avril and john take as a credit for the elderly or the disabled.
What is meant by social security ?
Social security protection is officially referred to as a fundamental human right in ILO agreements and UN treaties, despite the fact that it only benefits a small part of the world's population. Social security is frequently described as a system of contribution-based health, pension, and unemployment insurance, together with social benefits that are funded by taxes, in a society that is becoming more global.
Social security is the safety net that a society offers to people and families to ensure that they have access to health care and to provide them with financial stability in cases of old age, unemployment, disease, invalidity, work accidents, maternity, or the death of a primary earner.
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Briefly describe the two types of marketing and operations models used by the insurance industry.
Answer:
The two dominant types of life/health marketing systems are the general agency and the managerial (branch office) system. General Agency System A general agent is an independent businessperson rather than an employee of the insurance company and is authorized by contract with the insurer to sell insurance in a specified territory.
Explanation:
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selection is the process of gathering information and deciding who should be hired, under legal guidelines, to serve the best interest of the individual and the organization. group of answer choices true false
False ,Data series is the system of accumulating facts/statistics from unique sources. Job evaluation is the system of accumulating and studying facts approximately the content material and the human necessities of jobs, as nicely as, the context wherein jobs are completed.
This system is used to decide placement of jobs As an HR professional, consisting of an HR manager, you may be liable for coordinating, planning, and overseeing methods which might be vital to organizations, consisting of recruiting team of workers and coping with worker benefits. People who paintings on creation sites, people who installation tele cell smartphone and Internet networks for brand spanking new businesses, or people who most effective paintings all through particular seasons is probably taken into consideration contingent workers.
The choice system includes creating a judgment – now no longer approximately the applicant however approximately the in shape among the applicant and the task with the aid of using thinking about knowledge, skills, abilities, and different traits required to carry out the task choice methods aren't done via trendy styles and steps in this. The system can range from organisation to organisation. Some steps completed and requisite with the aid of using one organisation may be skipped with the aid of using another. Personnel Selection is the methodical placement of people into jobs.
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the manner in which a particular appeal is converted into an advertising message presented to a consumer is known as the
The manner in which a particular appeal is converted into an advertising message presented to a consumer is known as creative execution.
Write a short note on advertising.The strategies used to promote a product or service are referred to as advertising. Advertising aims to draw consumers' attention by emphasizing a product or service. Although there are many other uses as well, commercial advertising is the most common. It is frequently used to promote a certain commodity or service.
Commercial advertising typically aims to increase consumption of their products or services by "branding," which associates a product name or image with certain features in consumers' thoughts. On the other hand, commercials that are meant to result in an immediate sale are referred to as direct-response advertisements. Governmental organizations, political parties, interest groups, and religious institutions are a few examples of non-commercial organizations that focus more on self-promotion than promotion of goods or services for consumers.
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on january 1, fashion magazine received $15,000 from subscribers for the annual subscriptions that it recorded in unearned revenue. the issues of the magazine are sent digitally to subscribers monthly. what amount of subscription revenue should the magazine recognize on january 31 when the first issue is sent?
Amount of subscription revenue should the magazine recognize on january 31 when the first issue sent is $1250.
What is unearned revenue?
In accrual accounting, money received for goods or services but not yet earned is referred to as delayed income, unearned revenue, or unearned income. It is recorded as a liability up until delivery is made, at which point it is transformed into revenue in accordance with the revenue recognition principle.
When an expense is incurred, the associated expense item is recognized, and the corresponding amount is subtracted from accrued expenses. Deferred income and accrued expense share many similarities. The difference is that a liability to be covered later is a good or service received from a counterpart, whereas cash is to be paid out in a later period. To clarify, accrued expense represents the money that a company owes to others, whereas deferred revenue represents the money that a company receives in advance and represents the goods and services that a company owes to its customers.
To figure out how much will be made each month:
$15,000/12months
=$1,250.
So $1,250 for January
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Which of the following statements is true of direct comparisons among industrial relations (IR) systems around the world? Question 8 (0.5 points) No industrial relations system can be understood without an appreciation of its historical origins. The traditional view among IR systems is that the role of government is to bi establish labor standards. cThe objectives of the bargaining process are similar in different countries. d) Concepts are interpreted similarly even in different industrial relations contexts. Question 9 (0.5 points) The was organized in 1886 as a group of national craft unions. al United Auto Workers organization b Change to Win federation CAmerican Federation of Labor Congress of Industrial Organizations Question 10S sa sin ewages hich cmployers seck to avoid unignieatide y eci orere ordng conitions thtvalarmionze pe here to search
Maintaining and fostering positive, healthy relationships between employees and employers, or workers and management, is the major goal of industrial relation system.
What is industrial relation system?
The term "industrial relations" refers to any interactions between employers and employees, whether they take place at the national, regional, or corporate levels, as well as to all discussions on social and economic issues like wage determination, working hours, and working conditions.
To sustain cordial ties, industrial relations create rules and regulations. The government uses laws, agreements, norms, charters, and other mechanisms to influence the nature of the labor relationship.
The unitary method, pluralistic approach, and marxist approach are the three most common approaches to labor relations.
Strikes, union organizing, and collective bargaining are excellent examples of workplace industrial relations since they all involve the active engagement of both management and organized labor.
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low entry barriers, strong supplier and buyer positions, high threat of substitutes and intense competitive rivalry, then the profit potential of the industry is likely to be:
If an industry is characterized by low entry barriers, strong supplier and buyer positions, high threat of substitutes and intense competitive rivalry, then the profit potential of the industry is likely to be monopolistic industry.
What is Monopolistic competition?
A market model known as monopolistic competition involves numerous businesses that provide unique items against one another. Although the products or services they offer to their clients are comparable, they are not substitutes.
Due to high selling prices, excess capacity, a lack of specialization, and unemployment, this market model—a sort of imperfect competition—is viewed as inefficient. It's important to note that businesses operating in monopolistic competition frequently spend substantial sums of money on advertising. This step is unnecessary because it raises the cost of a good or service and causes a business to lose leads and clients.
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