The three ways that government policy can solve an adverse selection problem do not include giving sellers an incentive to reveal truthful information.
What is adverse selection?Аdverse selection refers generаlly to а situаtion in which sellers hаve informаtion thаt buyers do not hаve, or vice versа, аbout some аspect of product quаlity. In other words, it is а cаse where аsymmetric informаtion is exploited. Аsymmetric informаtion, аlso cаlled informаtion fаilure, hаppens when one pаrty to а trаnsаction hаs greаter mаteriаl knowledge thаn the other pаrty.
The problem fаced by pаrties to аn exchаnge in which the terms offered by one pаrty will cаuse some exchаnge pаrtners to drop out. Аn exаmple is the problem of аsymmetric informаtion in insurаnce: if the price is sufficiently high, the only people who will seek to purchаse medicаl insurаnce аre people who know they аre ill (but the insurer does not). This will leаd to further price increаses to cover costs.
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tanning company analyzes its receivables to estimate bad debt expense. the accounts receivable balance is $276,000 and credit sales are $1,000,000. an aging of accounts receivable shows that approximately 7% of the outstanding receivables will be uncollectible. what adjusting entry will tanning company make if the allowance for doubtful accounts has a credit balance of $3,000 before adjustment?
Bad Debt Expense 17,000 adjusting entry will tanning Company makes allowance for Doubtful Accounts 17,000.
An allowance is a quantum of plutocrats given or distributed generally at regular intervals for a specific purpose. In the environment of children, parents may give an allowance to their child for their eclectic particular spending.
Everyone, including scholars, has a commodity called a Personal Allowance. This is the quantum of plutocrats you are allowed to earn each duty time before you start paying Income Tax. For the the2022/23 duty time, the Personal Allowance is£,570. still, you generally will not have to pay any income duty, If you earn lower than this. However, benefits in kind and vittles exceed the maximum quantities, also the excess constitutes a tested stipend for your hand, If allowances. still, you can also conclude to indicate this as final tax stipend.
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2. johanna takes out a loan of $500 with a 16% nominal interest rate convertible quarterly. she makes payments of $20 at the end of each quarter. how much principal was repaid in the 4th payment?
Joanna obtains a $500 loan with a nominal interest rate of 16% that is convertible quarterly. She pays a $20 installment at the end of each quarter. The fourth payment of $92.8 settled the principal.
What does a loan's principle consist of?A principal payment is a contribution made to the loan's outstanding balance. In other terms, a principal payment is a payment made toward a loan that goes toward the principal balance owed rather than the interest owed on the loan.
How is principal repaid determined?When you first take out a home loan, you borrow a certain amount of money, which is known as the principal. Simply deduct your down payment from the final selling price of your home to determine your mortgage principal.
In the given question,
Loan= $500
Interest rate= 16%
Installment= $20
principal repaid on the 4th installment= 20* 0.016=3.2
= 20 + 3.2
= 23.2 * 4
= $92.8
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copy equipment was acquired at the beginning of the year at a cost of $72,000 that has an estimated residual value of $9,000 and an estimated useful life of 5 years. it is estimated that the machine will output an estimated 1,000,000 copies. this year, 315,000 copies were made. what is the units-of-output depreciation for the year?
According to the given information, the units-of-output depreciation for the year is $19845
Given:
Purchase price = $72,000
Residual value = $9,000
Useful life = 5 years
a) Depreciable cost = $72,000 - $9,000 = $63,000
b) Depreciation rate = Depreciation expense / Depreciable cost
Depreciation expense = [tex]\frac{63,000}{5}[/tex] = $12,600
Depreciation rate = [tex]\frac{12,600}{6,300}[/tex] × 100 = 20%
c) Units of output method =
Depreciation per copy of output = [tex]\frac{63,000}{1,000,000}[/tex] = 0.063 per copy
Depreciation in the current year = $0.063 × 31,5000 = $19,845
The accounting technique of spreading out the cost of a tangible asset over its useful life is known as depreciation. The amount of depreciation shows how much of an asset's value has been utilized. By purchasing assets over a predetermined period of time, it enables businesses to generate income from the assets they own.Comparable to amortization, which takes into account the increase in value of intangible assets over time, is depreciation.Learn more about Depreciation, here
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what effect does the collection of a note receivable, excluding interest, have on the accounting equation?
The effect of collection of notes receivable, excluding interest, on the accounting equation is total assets equal.
Notes receivable is a formal written statement of the amount of the consumer's receivables. As long as it is expected to be collected within one year, the notes receivable will be included in the current asset group which must be reported on the balance sheet of the financial statements.
Notes receivable can also be used to pay off customer receivables. Notes receivable and business receivables obtained from sales are sometimes also referred to as accounts receivable. A backed statement of a note has several other advantages over a statement recorded in the form of accounts receivable. By signing the draft, the debtor acknowledges the debt and is willing to make payments in accordance with the written terms. Thus, the note has a very strong legal claim.
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consider the capm. the risk-free rate is 3%, and the expected return on the market is 15%. what is the expected return on a stock with a beta of 1.2?
17.4% is the expected return on a stock.
Expected return=risk free rate+beta*(market rate-risk free rate)
=3+1.2*(15-3)
which is equal to
=17.4%
Inventory includes all the stocks with the aid of which ownership of a business enterprise or employer is split. A unmarried proportion of the stock approach fractional possession of the business enterprise in share to the whole variety of stocks.
Stocks represent ownership in a publicly traded corporation. whilst you buy a agency's stock, you become element-owner of that corporation. as an instance, if a organisation has one hundred,000 shares, and you buy 1,000 of them, you very own 1% of the organization.
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the law requiring that toys and infant products be tested before sale is called the: group of answer choices child safety act. strong product safety bill. consumer product safety improvement act. uniform safety testing bill.
The law requiring that toys and infant products be tested before sale is called the uniform safety testing bill. By providing a discount to a product that is priced "high," buyers are more inclined to purchase the goods because customers believe it is a good deal.
In essence, the initial high price establishes the product's bill value to customers. Major shops such as Macy's and Nordstrom, as well as niche brands such as Adidas and Nike, use high-low pricing widely. They set high pricing but then provide lower rates to customers on a regular basis through specials, promotions, or the coupons.
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an arm loan with a teaser rate of 1.0% for the first loan year, an index of the one-year u.s. treasury, a margin of 2.5%, a periodic interest rate increase cap of 2.0% and a lifetime interest rate increase cap of 5.5% with annual adjustments, would have a maximum interest rate of what for the fourth loan year if the one-year u.s. treasury rate is 4.75% at the interest rate reset date just before the beginning of the fourth loan year?
The cost a company pays a lender (creditor) for a loan is called interest. Although many other arrangements are available, interest payments are typically based on the remaining balance of a loan and paid on a monthly basis.
What is Periodic interest ?
Usually, a daily periodic interest rate is multiplied by the balance owed at the end of each day to calculate interest. The amount of interest is compounded daily since it is added to the balance from the previous day. At a predetermined interest rate, interest is often computed as a percentage of the loan balance.
The cost of borrowing money is called interest, and it is typically stated as a percentage, such as an annual percent rate (APR). For utilizing their money, borrowers may pay interest to lenders, or lenders may charge interest to borrowers. Simple interest calculated on the principal or compound interest calculated on the principal plus any prior interest is how interest is frequently defined.
Credit cards, mortgages, auto loans, personal loans, savings accounts, and penalty assessments are all frequently linked with interest. The macroeconomic policy set by the Federal Reserve's funds rate has a significant impact on interest rates.
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corporate stocks and bonds meet the requirements to be among the items of property characterized as goods under the ucc. True or False
The statement " corporate stocks and bonds meet the requirements to be among the items of property characterized as goods under the ucc. " Is false Option B
What are corporate stocks?Generally, Different forms of corporate stocks each denote a different level of ownership interest in a firm. You can also hear this referred to as shares or stocks.
Before making an investment in stocks, it is essential to determine whether or not the company in question has more than one kind of share. A collection or kind of stock that all have the same rights is referred to as a class.
According to the statement, "corporation stocks and bonds fulfill the qualifications to be among the articles of property defined as goods under the ucc," these assets are qualified to be included in this category. Is it not true that Option B
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your client owns a portfolio of blue-chip equity securities and would like to reduce his risk of a market downfall through the use of options. the most effective way to achieve this objective is to:
Writing covered calls is the investor's most conservative approach to achieving his goal.
How do you write a covered call?You sell someone else the right to buy a stock that you already own, at a set price, within a given time frame when you write a covered call. To use this technique, you must own at least 100 shares for each call contract you intend to sell because one option contract typically equals 100 shares. The investor's most cautious strategy for accomplishing his objective is to write covered calls. His stock portfolio's yield will increase as a result of the call premium he receives because it will increase the amount of money the stock's dividends bring in. Although a covered call is frequently thought of as a low-risk options strategy, this isn't always the case. Despite the fact that the writer has limited the option's danger
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what is the most likely consequence of emphasizing internal job evaluations? multiple choice sales will increase. salespeople will be paid below the market rate. the status quo will be maintained. salespeople will look for new jobs with competitors. a hiring freeze will go into effect immediately.
The most likely consequence of emphasizing internal job evaluations is Salespeople will be paid below the market rate if they are brought in line with logistics.
Job evaluation is the systematic technique of determining the relative fee of different jobs in an agency. The goal of process assessment is to evaluate jobs with every different with a purpose to create a pay shape this is truthful, equitable, and regular for everyone.
A job evaluation is a systematic way of determining the price/well worth of a process with regards to different jobs in an organisation. It attempts to make a scientific assessment between jobs to assess their relative really worth for the reason of establishing a rational pay structure.
Job evaluation is the manner of evaluating a process towards different jobs in the agency to decide the correct pay charge.
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what's lean operations what's the link between lean philosophy and product development? which one influences the other? how does lean philosophy contribute to improving organizations in a competitive market?
Doing more with less is the guiding idea behind the business strategy known as lean operations. Doing more with less is the guiding idea behind the business strategy known as lean operations.
The goal of the lean product development method is to continuously enhance product development processes while reducing waste.
Using visual work planning and management to improve visibility, coordination, and flow of work is one of the frequent ways that Lean is applied in product development. incorporating knowledge production, capture, and reuse into the system.
By identifying the most important strategic areas for change and then streamlining the processes in each, lean helps firms gain a competitive edge. Through increased effectiveness and efficiency, industry credibility, and market share, they are able to benefit from this.
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auditor most likely would assess control risk at high if the payroll department supervisor is responsible for:
Auditor most likely would assess control risk at high if the payroll department supervisor is responsible for approving adjustments to payroll rates for all employees.
You must have proof that the relevant controls were operationally effective for the whole period for which you intend to rely on them in order to determine control risk for particular assertions at a level lower than the maximum for the financial statement audit.
You will now have finished your control testing and be able to evaluate the control risk associated with each assertion for the purposes of your financial statement audit. For the purposes of your internal control audit, you will also be able to draw a provisional conclusion about the efficacy of the controls at CX-15. (When you have finished your substantive audit procedures, you will have reached your final conclusion regarding the efficacy of internal controls.) You should make sure that your financial statement audit's control risk assessments (High, Moderate, and Low) are consistent
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a decreasing-cost industry is one in which firms experience ___ costs as their industry . (check all that apply.)
The decreasing-cost industry is one in which firms experience higher; contract costs as their industry.
The industry of a reducing fee is an industry where the expansion of enterprise output decreases the company's price curves by using the entry of recent companies. For instance, whilst the manufacturing of digital components expands so the charge of laptop chips is probably decreased.
The reducing-value industry refers to industries that revel in lower in average expenses after they develop larger. Or, in other words, the industry reports external economies of scale. The enterprise's long-term supply curve is downward sloping.
An increasing-value enterprise is an enterprise whose fees for manufacturing go up as extra companies compete. while there are only a few gamers in that enterprise, the fees for manufacturing are low. however, when many freshmen enter the scene, demand for sources rises. In this enterprise, sources are restrained, i.e., finite.
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rick bought a bond when it was issued by macroflex corporation 14 years ago. the bond, which has a $1,000 face value and a coupon rate equal to 10 percent, matures in six years. interest is paid every six months; the next interest payment is scheduled for six months from today. assuming the yield on similar risk investments is 14 percent, calculate the current market value (price) of the bond.
The current market value(price) of the bond is $917.771
Life=20 years but is 14 years old
Coupon rate=10%
Discount rate=12%
FV=$1000
Price=$100*PVIFA(12%,6)+$1000*PVIF(12%,6)
=$411.140+$506.631
=$917.771
An IOU-like debt security known as a bond. Borrowers create bonds to get money from investors who are willing to lend to them for a set length of time. When you buy a bond, you are lending money to the issuer, which could be a business, an organization, a municipality, or both. The four different categories of bonds include corporate bonds, municipal bonds, government bonds, and agency bonds. Bond prices and coupon rates have an opposing relationship. Bond prices decline when interest rates increase and rise when interest rates decrease.
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which of the following general journal entries would be used to recognize $7,500 of uncollectible accounts expense under the direct write-off method? multiple choice account title debit credit accounts receivable 7,500 uncollectible accounts expenses 7,500 account title debit credit uncollectible accounts expenses 7,500 allowance for doubtful accounts 7,500 account title debit credit uncollectible accounts expenses 7,500 accounts receivable 7,500 account title debit credit allowance for doubtful accounts 7,500 uncollectible accounts expenses 7,500
When a transaction is recorded, the allowance method debits bad debt expenditure and credits a contra-asset account called Allowance for Uncollectible Accounts in $75,00.
How are uncollectible accounts entered into the system?When an account belonging to a certain client is determined to be uncollectible, the journal entry to write off the account is: A credit to Accounts Receivable (to eliminate the amount that will not be collected) A debit to Allowance for Doubtful Accounts (to reduce the Allowance balance that was previously established).Receivables, loans, and other debts with a slim probability of being repaid are referred to as accounts uncollectible. A debt may become impossible to collect for a variety of reasons, such as the debtor's bankruptcy, an inability to locate the debtor, the debtor's fraud, or a lack of adequate documents to support the debt.To learn more about Uncollectible Accounts refer to:
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Which type of on-floor sales measurement includes sales per hour and gross margin?
A.
sales activity
B.
accounting-based
C.
customer relationship quality
D.
stakeholder satisfaction
The on-floor sales measurement that includes sales per hour and gross margin is the accounting-based sales measurement. Hence, Option B is correct.
What does sales measurement mean?
Data points known as sales metrics are used to track and assess a person's, group's, or organization's sales performance over time. In the broadest sense, sales metrics assist a company in assessing the accomplishment of its sales efforts and pinpointing potential improvement areas.
Sales metrics are employed in a variety of ways, including goal-setting, problem-solving, designing incentive programmes, commission and bonus calculations, and more.The accounting-based sales measurement is the on-floor sales metric that accounts for gross margin and sales per hour.
Therefore, Option B is correct.
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the manufacturing strategy in which the product is designed, engineered, and built to specifications only after the order has been received is called what? it is used when products are unique and extensively customized for the specific needs of individual customers. the manufacturing strategy in which the product is designed, engineered, and built to specifications only after the order has been received is called what? it is used when products are unique and extensively customized for the specific needs of individual customers. assemble-to-order (ato) engineer-to-order (eto) make-to-stock (mts) make-to-order (mto)
The manufacturing strategy in which the product is designed, engineered, and built to specifications only after the order has been received is called Engineer-to-order(ETO), Make-to-order(MTO)
The manufacturing strategy in which the product is designed, engineered, and built to specifications only after the order has been received is called Engineer-to-order, it is used when products are unique and extensively customized for the specific needs of individual customers.
The manufacturing strategy in which the product is designed, engineered, and built to specifications only after the order has been received is called Make-to-order, it is used when products are unique and extensively customized for the specific needs of individual customers.
Make-to-order (MTO), or made-to-reserve, is a business manufacturing method that commonly permits purchasers to purchase merchandise that might be customized to their specifications. it's far a manufacturing system in which the manufacturing of an item begins handiest after a confirmed client order is acquired.
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a company had interest expense of $3,900, income before interest expense and income taxes of $16,600, and net income of $7,000. the company's times interest earned ratio equals:
The Times Interest Earned Ratio of the company is 4,26. It can be calculated by divided Income before Interest Expense and Income Taxes with interest expanse.
In business, The Times Interest Earned Ratio or known as TIE generally can be described as measures a company's ability to service its interest expense obligations based on its current operating income. The Times Interest Earned Ratio (TIE) also known as the interest coverage ratio. The function of The Times Interest Earned Ratio is to helps measure the credit health of a borrower.
The calculation:
Times Interest Earned Ratio = Income before Interest Expense and Income Taxes / Interest Expense
Times Interest Earned Ratio = $16,600 / $3,900 = 4.26
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During the sprint, what scrum value must the team demonstrate to achieve the goal?.
Commitment is the scrum value that the team must display during the sprint in order to achieve the goal.
When we hear the word "Scrum," we immediately think of events, roles, and objects. However, we seldom discuss Scrum's roots – its pillars and ideals. The purpose of this essay is to attract your attention to the Scrum ideals that form the foundation of the Scrum methodology.
The Scrum Team is guided by these ideals in their work, activities, and conduct. The decisions made, the processes performed, and the manner Scrum is implemented should enhance, not decrease or undermine, these ideals.
As they work with Scrum events and artifacts, team members learn and explore the ideals. When the Scrum Team and the individuals they work with embody these ideals, the empirical Scrum pillars of transparency are formed.
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with the decentralization post-fordism movement, post-industrial cities are over saturated with abandoned factories, housing, and other amenities. the major question that cities, like detroit, are facing is how a once populous city can shrink appropriately. what should these rustbelt cities do with all the vacant buildings without creating redundant infill that does not have the population to support it?
Answer:
Small batch production, specialized products
-City of Melbourne, infill, provided amenities, housing, walkability
Explanation:
merchandise, gift certificates, and travel are the most frequently used incentives for recognition awards. True or False
Merchandise, gift certificates, and travel are the most frequently used incentives for recognition awards. - False
A delivery certificates is a crucial report that documents the start of a person. The time period "birth certificate" can confer with either the unique record certifying the circumstances of the start or to a licensed reproduction of or representation of the following registration of that delivery. depending on the jurisdiction, a report of birth would possibly or might not include verification of the occasion with the aid of together with a midwife or health practitioner. The United nations Sustainable improvement goal 17, an fundamental a part of the 2030 schedule, has a target to growth the well timed availability of information concerning age, gender, race, ethnicity, and other relevant characteristics.
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bob just closed on his investment property. he's already identified a replacement property that he'll be exchanging into by using a 1031 tax-deferred exchange. how many days does he have to close on his replacement property?
According to the 1031 tax deferred exchange, it takes 180 days does he have to close on his replacement property.
1031 tax deferred exchange:
1031 deferred exchange states that "it allows you to defer capital gains taxes when selling a property, as long as the proceeds are used toward a similar investment within a certain time frame".
Given,
Bob just closed on his investment property. he's already identified a replacement property that he'll be exchanging into by using a 1031 tax-deferred exchange.
Here we need to find the number of days does he have to close on his replacement property.
According to the definition of 1031 deferred exchange, the investors who want to use the 1031 tax-deferred exchange must identify the property within 45 days and close within 180 days.
So, it take 180 days to close on his replacement property.
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you put money into an account and earn a real interest rate of 6 percent. inflation is 3 percent, and your marginal tax rate is 20 percent. what is your after-tax real rate of interest? group of answer choices
the after-tax real rate of interest is calculated by the fisher effect and is found to be 4.2%
The Fisher effect describes the relationship between the real and nominal interest rates and the expected rate of inflation. It also explains money's neutrality. As such, it is crucial in economics.
Fisher effect :
Real interest rate = nominal interest rate - inflation rate
6 = nominal interest rate - 3
Nominal interest rate = 9
Given that the marginal tax is 20%, the nominal interest rate realized will be:
9 - 20*9 / 100 = 7.2
Now, the real rate of interest =
7.2 - 3 = 4.2
The Fisher Effect, named after economist Irving Fisher, describes the relationship between inflation and both real and nominal interest rates.
According to the Fisher Effect, the real interest rate equals the nominal interest rate minus the expected inflation rate.
The Fisher Effect has been applied to the study of the money supply and global currency trading.
When the real interest rate is positive, it indicates that the lender or investor can outperform inflation.
When the real interest rate is negative, it means that the interest rate charged on a loan or paid on a savings account is not higher than the inflation rate.
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a leading beverage company sells its signature soft drink brand in vending machines for $0.78 per 12 oz. can. a vending machine has monthly fixed costs of space rental, energy consumption, and capital depreciation of $147. variable cost for a can of soda is $0.41. the regional sales manager wondered what the breakeven volume would be at this higher price?
The breakeven volume would be at this higher price will be 47.43%.
The selling price (S) is $0.78 per can and the variable Cost (V) is $0.41 per can'. Contribution margin = S-V = 0.78 - 0.41 = $0.37 per can. Contribution Margin percentage = 100*Contribution Margin/Selling Price = 100*0.37/0.78 = 47.43%.
The amount of your product you must make and sell to break even on production expenses is known as the breakeven volume. The quantity of units that must be manufactured and sold in order to create a sufficient contribution margin to pay fixed expenses is known as the breakeven level.
The Contributions Margin is a crucial idea in this approach. The denominator in the calculation above is "selling price less the variable costs per unit," or contributions margin.
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Match the different formal groups with their descriptions or situations.
a Employees in the HR department of an
organization interact through an online
social medium.
b Lee, Haider, Gary, and Sophia are put
together in a team to address real-timeclient issues.
c Angela is the chief editor in a publication,
and has three sub-editors reporting to her.
1 command groups
2 virtual groups
3 task groups
Command structures: In a publication, Angela is the chief editor and is subordinate to three other editors.
What was Employees in the HR department of an organization ?Employees in an organization's HR department communicate with one another via virtual groups on social media.
Lee, Haider, Gary, and Sophia are placed in task groups.
Addressing client issues in real time as a team .
Command groups are teams made up of employees at various levels. Here, a chief editor collaborates with subeditors. On the organizational structure, chief editors are above sub-editors.
Virtual groups are those that don't hold regular meetings. They connect online with a platform like Soon or MS Teams.
Task groups are formed when people are assembled to complete a task or generate a product.
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based on your understanding of equity carve-outs, is the statement above an advantage of equity carve-outs?
In a fairness carve-out, an enterprise sells stocks in a business unit. The final purpose of the organization may be to fully divest its pastimes, however, this may now not be for numerous years. The equity carve-out lets the business enterprise get hold of coins for the shares it sells now.
The seemingly obvious choice for a one-person business is a sole proprietorship, which might be the best style of business available. there's a solid quantity of flexibleness with a sole proprietorship, as you may be an impartial contractor or operate a small business in an extra conventional experience.
“One aspect hit companies have in not unusual is … a strong purchaser focus,” stated John Stevenson, advertising professional at My GRE examination education. “they invent a way of life that is targeted round their clients and consciousness their approaches, services, and products around their offerings wishes.
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omar and penn want to discharge their contract by executing a new agreement with performance different from what they originally promised. they can best accomplish this by
They can best accomplish Discharge of contract by an accord and satisfaction
The term discharge of contract refers to the termination of the parties' contractual relationship. When a contract ceases to operate, the rights and obligations created by the parties are said to have been discharged. A contract can be discharged if the parties mutually agree to end it. Furthermore, there are various methods for contract termination.
The following methods are used to discharge a contract:
Discharge by Performance
Discharge by Agreement or Consent
Discharge by Performance Impossibility
Discharge by Time Lapse
Discharge by Operation of Law
Discharge by Breach of Contract
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in december, both the price of christmas trees increases and the quantity of christmas trees sold increases. is this a violation of the law of demand? explain why or why not.
In December, both the price of Christmas trees increases and the quantity of Christmas trees sold increases. This is a violation of the law of demand.
What is Law of Demand?
One of the most fundamental concepts in economics is the law of demand. It explains how market economies distribute resources and set the prices of goods and services that we see in daily transactions by combining the law of supply.
According to the law of demand, the quantity bought varies inversely with price. In other words, the quantity demanded decreases as the price increases. Because of declining marginal utility, this happens.
Economics is the study of how people make use of scarce resources to satisfy endless demands. These limitless wants are the focus of the law of demand.
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after hugo chavez became president of venezuela, the government abruptly took over 60 domestic and foreign oil field service companies. this is an example of .
Over 60 domestic and international oil field service companies were abruptly taken over by the Venezuelan government after Hugo Chavez became president. Expropriation can be seen in this situation.
The government of a home nation restricts foreign investment because it lacks foreign currency.
What are some examples of tools that nations use to impose trade protectionism?Tariffs, subsidies, quotas, and currency manipulation are the four main tools of trade protectionism.
What changed for the oil industry under Chavez?His decision to fire thousands of PDVSA employees who had participated in a 2002–2003 industry strike stripped the company of significant technical expertise. Through an alliance known as Petrocaribe, Chavez began providing subsidized oil to several nations in the region, including Cuba, in 2005.
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a default happens when: multiple choice a borrower fails to pay back a loan according to the agreed-upon terms. a lender fails to allot money according to the terms set by the government. a bank fails to have enough cash on hand to give all depositors their money. all of these are considered defaults.
A default happens when a borrower fails to pay back the loan as given in the first option.
What exactly do you mean by a bank?A bank is a company that offers additional financial services in addition to dealing with money and its alternatives. A bank serves as a financial middleman by accepting deposits and making loans.
What exactly is a bank? What does one do?Although banks perform a number of different tasks, their primary duty is to gather deposits from people who have money, pool them, and then lend the money to people who need it. Banks serve as a go-between for depositors (who give the bank money) and borrowers.
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