which of the following is a characteristic of successful entrepreneurs? tolerance of uncertainty superciliousness apathy intolerance of failure

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Answer 1

Tolerance of uncertainty is a characteristic of successful entrepreneurs.

Successful entrepreneurs are often faced with uncertainty and ambiguity, and they must be comfortable with taking risks and making decisions without having complete information.

Tolerance of uncertainty allows entrepreneurs to remain calm and focused in the face of uncertainty and to make informed decisions based on available information. Successful entrepreneurs also recognize that failure is a natural part of the process, and they learn from their mistakes rather than being discouraged by them.

Superciliousness,
or arrogance, can actually hinder success by limiting an entrepreneur's ability to learn from others and to collaborate effectively. Apathy, or a lack of interest or motivation, can prevent entrepreneurs from taking the necessary steps to succeed.

Intolerance of failure can lead to risk aversion and a reluctance to take necessary risks, which can also hinder success.

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Related Questions

Bank Reconciliation
Shown below is the information needed to prepare a bank reconciliation for Warren Electric at December 31:
1.At December 31, cash per the bank statement was $15,200; cash per the company’s records was $17,500.
2.Two debit memoranda accompanied the bank statement: service charges for December of $25, and a $775 check drawn by Jane Jones marked "NSF."
3.Cash receipts of $10,000 on December 31 were not deposited until January 4.
4.The following checks had been issued in December but were not included among the paid checks returned by the bank: no. 620 for $1,000, no. 630 for $3,000, and no. 641 for $4,500.
a.Prepare a bank reconciliation at December 31.

Answers

The difference between the two adjusted cash balances represents the reconciling items that need further investigation or correction. In this case, the difference is $17,000

To prepare a bank reconciliation for Warren Electric at December 31, we need to compare the cash balance per the bank statement with the cash balance per the company's records and make necessary adjustments. Here's a brief summary of the bank reconciliation:

Cash per bank statement: $15,200Cash per company's records: $17,500

Debit Memoranda:

Service charges for December: $25NSF (Non-Sufficient Funds) check drawn by Jane Jones: $775

Adjustments for timing differences:

Cash receipts of $10,000 on December 31 were not deposited until January 4. This amount needs to be deducted from the company's records.

Outstanding checks:

Check no. 620: $1,000Check no. 630: $3,000Check no. 641: $4,500

These checks were issued in December but have not yet cleared the bank. They need to be added to the company's records.

Now, let's calculate the bank reconciliation:

Cash per bank statement: $15,200Add: Outstanding checks: $1,000 + $3,000 + $4,500 = $8,500Adjusted cash per bank statement: $15,200 + $8,500 = $23,700

Cash per company's records: $17,500

Less: Adjustments for timing differences: $10,000

Less: Debit memoranda: $25 + $775 = $800

Adjusted cash per company's records: $17,500 - $10,000 - $800 = $6,700

Finally, we compare the adjusted cash balances:

Adjusted cash per bank statement: $23,700Adjusted cash per company's records: $6,700

The difference between the two adjusted cash balances represents the reconciling items that need further investigation or correction. In this case, the difference is $17,000 ($23,700 - $6,700).

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Mr phones buys phone parts from several well know phone manufacturers, assembles the phone, brands it and then packs it ready to sell to the customers. When he buys the phone it costs £200 and he treats this as his direct costs in the standard cost card, Overheads for the three processes are as follows, Phone Assembly Branding Packaging Labour hours 200 Machine hours 300 1001 Annual Overheads (E) 6,000 15,000 4,500 It takes the following times to complete each task, Assembly Branding Packing Time taken to complete task in minutes 10 20 15 Mr phones adds a profit mark up of 20% to all his products Required Complete the standard Cost Card Below Enter all values to 2 demical place with no E sign Standard Cost Card E Direct Costs 200.00 Phone Assembly Branding Packaging Total Cost Profit Markup Selling Price

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Total Cost; Profit Markup; Selling Price from Mr phones is, total cost: £25,701.00, profit markup: 20%, selling price: £30,841.20.

Here is the completed Standard Cost Card:

Standard Cost CardDirect Costs: £200.00

Phone Assembly:

Labour Hours: 200Overhead Costs: £6,000.00Branding:Labour Hours: 300Overhead Costs: £15,000.00Packaging:Labour Hours: 1001Overhead Costs: £4,500.00

Total Cost: £25,701.00 (calculated as Direct Costs + Overhead Costs)

Profit Markup: 20%

Selling Price: £30,841.20 (calculated as Total Cost + Profit Markup)

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Adonis Corporation issued 10-year, 7% bonds with a par value of $250,000. Interest is paid semiannually. The market rate on the issue date was 6%. Adonis received $268,603 in cash proceeds. Which of the following statements is true?
a. Adonis must pay $250,000 at maturity plus 20 interest payments of $7,500 each.
b. Adonis must pay $250,000 at maturity plus 20 interest payments of $8,750 each.
c. Adonis must pay $250,000 at maturity and no interest payments.
d. Adonis must pay $268,603 at maturity plus 20 interest payments of $8,750 each.
e. Adonis must pay $268,603 at maturity and no interest payments.

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Adonis Corporation issued 10-year, 7% bonds with a par value of $250,000.Adonis must pay $250,000 at maturity plus 20 interest payments of $8,750 each.

Adonis Corporation issued 10-year, 7% bonds with a par value of $250,000. This means that the face value of the bonds is $250,000, and the annual interest rate is 7%. Interest is paid semiannually, so there will be 2 interest payments per year for 10 years, totaling 20 interest payments. The market rate on the issue date was 6%, but the bond's interest rate is 7%. Since the bond's interest rate is higher than the market rate, investors are willing to pay a premium for the bond. This is why Adonis received $268,603 in cash proceeds instead of the par value of $250,000. The interest payment for each period can be calculated as follows:  Interest payment = Par value × Annual interest rate × (1/Number of payments per year) Interest payment = $250,000 × 7% × (1/2) = $8,750 At the end of the 10-year period, Adonis must pay back the bond's par value of $250,000, not the cash proceeds of $268,603.

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The balance of the Estimated Warranty Liability account was $13,350 on January 1, 2019, and $18,900 on December 31, 2019. Based on an analysis of warranty claims during the past several years, this year's warranty provision was established at 1.5% of sales, and sales during the year were $1,470,000.
Required:
What amount of warranty expense will appear on the income statement for the year ended December 31, 2019?
What were the actual costs of servicing products under warranty during the year?

Answers

The actual costs of servicing products under warranty during the year ended December 31, 2019, were $16,500.

To calculate the amount of warranty expense that will appear on the income statement for the year ended December 31, 2019, we need to use the following formula:

Warranty Expense = Sales x Warranty Provision Rate

Warranty Provision Rate = 1.5% of Sales

Sales for the year ended December 31, 2019 = $1,470,000

Warranty Expense = $1,470,000 x 1.5% = $22,050

Therefore, the amount of warranty expense that will appear on the income statement for the year ended December 31, 2019, is $22,050.

To calculate the actual costs of servicing products under warranty during the year, we need to use the following formula:

Actual Warranty Costs = Beginning Warranty Liability + Warranty Expense - Ending Warranty Liability

Beginning Warranty Liability on January 1, 2019 = $13,350

Warranty Expense = $22,050 (calculated above)

Ending Warranty Liability on December 31, 2019 = $18,900

Actual Warranty Costs = $13,350 + $22,050 - $18,900 = $16,500.

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Subject: Life and works of Jose P. RizalPlease do not hand written it, thank you :DQuestion: How were the events in the 19thCentury is crucial to the formation of Rizal's love for hiscountry?

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The events in the 19th Century were crucial to the formation of Jose P. Rizal's love for his country, as they exposed him to significant social, political, and economic issues in the Philippines.

During this time, the Philippines was under Spanish colonial rule, and Rizal experienced the injustices faced by his fellow countrymen. Key events such as the widespread corruption in the Spanish colonial government, the implementation of the Spanish friar system, and the rise of the Filipino nationalist movement deeply influenced Rizal's perspective and fueled his passion for his country.

Rizal's education in Europe, particularly in Spain, allowed him to witness the global advancements in science, arts, and literature. This exposure led him to envision a progressive future for the Philippines, inspiring him to write novels such as "Noli Me Tangere" and "El Filibusterismo." These works criticized the colonial government and its oppressive practices, ultimately contributing to the Philippine Revolution.

In summary, the events of the 19th Century shaped Rizal's love for his country by highlighting the injustices faced by the Filipino people and inspiring him to become a key figure in the fight for Philippine independence.

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Question 20 Which of the following is considered to be a visible cost that companies may incur when ethical wrongdoing is discovered and punished? a. Civil penalties b. Legal and investigative costs c.Costs of providing remedial education and ethics training to company personnel d.Costs of taking corrective actions

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The correct option is a).

Civil penalties are considered to be a visible cost that companies may incur when ethical wrongdoing is discovered and punished.

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a wrongful act against a person or organization is considered what type of violation?

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A wrongful act against a person or organization is considered a "tort" violation.

The act of using harmful or unjust which is against legal rights or duties. Violations of many different kinds may occur at work. All of them have the potential to hurt workers or the business as a whole, some more seriously than others.

A tort violation occurs when one party's wrongful act causes harm or damage to another party, and the injured party may seek legal remedies such as compensation or an injunction.

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On August 1, 2019, The Cove at Mill Lake, Inc., purchased inventory costing $46,000 by signing a 9%, six-month, short-term note payable. The company will pay the entire note (principal and interest) on the note's maturity date Read the requirements Requirement 1. Journalize the company's purchase of inventory. (Record debits first, then credits. Exclude explanations from journal entries.)

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We have the journal entry for The Cove at Mill Lake, Inc.'s purchase of inventory on August 1, 2019. To journalize the company's purchase of inventory, we need to record the inventory and notes payable.

Inventory: $46,000
Notes Payable: $46,000

This entry reflects an increase in inventory, which is a debit account, and an increase in notes payable, which is a credit account. No explanation is needed in the journal entry.
Note that the interest expense is not recorded at the time of purchase. It will be accrued over the six-month term of the note and recorded separately in the company's financial statements.

1. Journalize the company's purchase of inventory:
Date: August 1, 2019

Accounts:
Debit: Inventory - $46,000
Credit: Notes Payable - $46,000

Journal entry:
Inventory     -  46,000
Notes Payable     -  46,000

This journal entry records the purchase of inventory by debiting the Inventory account for the cost of the inventory, $46,000, and crediting the Notes Payable account for the short-term note payable signed for the same amount.

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money must be very difficult to counterfeit; it means that it should be hard to:

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Money must indeed be difficult to counterfeit, as this ensures the stability and trustworthiness of a nation's currency.

When money is hard to counterfeit, it means that it should be challenging to:

1. Replicate: High-quality materials and intricate designs make it difficult for counterfeiters to produce identical copies. Security features like watermarks, holograms, and micro-printing add layers of complexity that are hard to duplicate.

2. Circulate: Strict regulations and systems are in place to monitor and track the flow of money. Banks, retailers, and law enforcement agencies work together to identify and remove counterfeit bills from circulation.

3. Pass detection: Advanced technology is used to identify counterfeit money. Currency validators in banks, retail establishments, and ATMs use UV lights, magnetic ink detection, and other methods to authenticate notes and reject counterfeits.

4. Imitate security features: Modern currencies incorporate multiple security features that are challenging to reproduce. Examples include color-shifting ink, hidden images, and intricate patterns that are only visible under certain conditions.

5. Acquire equipment: High-quality printing equipment and materials used in producing genuine currency are often difficult to obtain, making it harder for counterfeiters to create convincing fakes.

6. Avoid legal consequences: Counterfeiting money is a serious criminal offense that carries severe penalties. Strict laws and vigilant enforcement discourage individuals from engaging in this illicit activity.

By ensuring that money is hard to counterfeit, governments and financial institutions maintain the integrity of their currency, protecting both consumers and the broader economy from the negative impacts of counterfeit money.

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if the current unemployment rate is 5 percent and the natural unemployment rate is 6 percent, then the economy is group of answer choices producing a level of real gdp that is greater than the level of potential real gdp. in a recessionary gap. producing a level of real gdp that is less than the level of potential real gdp. producing a level of real gdp that is equal to the level of potential real gdp.

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If the current unemployment rate is 5 percent and the natural unemployment rate is 6 percent, then the economy is producing a level of real GDP that is greater than the level of potential real GDP.

This is because the natural unemployment rate, also known as the non-accelerating inflation rate of unemployment (NAIRU), is the rate at which there is no upward or downward pressure on inflation.

In other words, it is the rate at which the economy is producing at its potential, without causing inflation to rise or fall.
When the unemployment rate is below the natural rate, as it is in this case, it suggests that the economy is producing at a level greater than its potential, creating what is known as a positive output gap.

This means that the economy is producing more than it is capable of producing in the long run, which can lead to inflationary pressures. However, in the short run, it can also result in an increase in employment and economic growth.
In contrast, if the unemployment rate were above the natural rate, it would suggest that the economy is producing at a level less than its potential, creating a negative output gap.

This means that the economy is not producing as much as it is capable of producing in the long run, resulting in unemployment and lower economic growth.

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tonto company purchased property for $120,000. the property included a building, equipment and land. the building was appraised at $70,000, the land at $49,000, and the equipment at $22,000. what is the amount of cost to be allocated to the building in the accounting records?

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The amount of cost to be allocated to the building in the accounting records is $59,568.

To determine the amount of cost to be allocated to the building in the accounting records for Tonto Company, you need tofollow these steps:

1. Calculate the total appraised value of all assets:

  Building: $70,000

  Land: $49,000

  Equipment: $22,000

  Total appraised value: $70,000 + $49,000 + $22,000 = $141,000

2. Calculate the allocation percentage for each asset:

  Building: $70,000 / $141,000 = 0.496 (rounded to 3 decimal places)

  Land: $49,000 / $141,000 = 0.348 (rounded to 3 decimal places)

  Equipment: $22,000 / $141,000 = 0.156 (rounded to 3 decimal places)

3. Allocate the purchase price to each asset using their allocation percentages:

  Building: $120,000 * 0.496 = $59,520

  Land: $120,000 * 0.348 = $41,760

  Equipment: $120,000 * 0.156 = $18,720

So, the amount of cost to be allocated to the building in the accounting records is $59,520.

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Use the labor market model to predict how a fall in productivity would affect the wage and equilibrium labor. Explain.

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According to the labor market model, a fall in productivity would result in a leftward shift of the labor demand curve. This is because with lower productivity, firms will require fewer workers to produce the same level of output. As a result, the equilibrium wage rate would decrease and the equilibrium level of employment would decrease as well.

The decrease in productivity would also lead to a decrease in the marginal product of labor, which is the additional output that a worker produces. This would result in a decrease in the marginal revenue product of labor, which is the additional revenue that a firm generates from hiring an additional worker. With lower productivity, the marginal revenue product of labor would be lower, causing firms to hire fewer workers and offer lower wages.

Overall, a fall in productivity would have a negative impact on both the wage rate and equilibrium level of employment in the labor market model.

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if today is manufacturing day 100 and an order has a due date of 120 days and a lead time remaining of 25 days, the critical ratio would be: question 10 options: 0.8 1.2 1.25 0.25 0.2

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the answer to the question is 0.25.

To calculate the critical ratio in this scenario, we need to first understand what it represents. The critical ratio is a measurement of the urgency of an order, indicating the proportion of time remaining to the due date versus the time required to complete the order. It is calculated by dividing the remaining time until the due date by the time required to complete the order.

In this specific case, we know that today is manufacturing day 100 and that the order has a due date of 120 days. We also know that the lead time remaining is 25 days. Therefore, we can calculate the time required to complete the order by subtracting the lead time remaining from the total lead time, which is 120 - 25 = 95 days.

To calculate the critical ratio, we divide the remaining time until the due date (120 - 100 = 20 days) by the time required to complete the order (95 days). This gives us a critical ratio of 0.21.

Out of the given options, the closest one to our calculated critical ratio is 0.25.

In conclusion, the critical ratio is an important tool in production planning and scheduling. It allows us to prioritize orders based on their urgency and ensure that they are completed on time. In this scenario, we calculated the critical ratio for an order with a due date of 120 days and a lead time remaining of 25 days, resulting in a critical ratio of 0.21.

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a. computer stocks currently provide an expected rate of return of 16%. mbi, a large computer company, will pay a year-end dividend of $2 per share. if the stock is selling at $50 per share, what must be the market's expectation of the growth rate of mbi dividends? (do not round intermediate calculations. round your answer to 2 decimal places.)

Answers

The market's expectation of the growth rate of MBI dividends is 12% (rounded to two decimal places).

How to calculate the market's expectation of the growth rate

To find the market's expectation of the growth rate of MBI dividends, we can use the Dividend Growth Model formula:

Expected Rate of Return = (Dividend per Share / Stock Price) + Dividend Growth Rate

In this case, the Expected Rate of Return is 16% (0.16), the Dividend per Share is $2, and the Stock Price is $50.

We need to find the Dividend Growth Rate (g). Plugging the values into the formula:

0.16 = (2 / 50) + g

Now, we can solve for g:

0.16 - (2 / 50) = g

0.16 - 0.04 = g

0.12 = g

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____ is a facility used to house management information systems and associated components, such as telecommunications and storage systems

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A data center is a facility that houses management information systems and associated components such as communication systems and storage systems.

A data center is a physical facility that houses computers and related hardware. This includes network hardware, servers and data storage devices required for IT systems to function. A physical location where a company's digital data is stored. A data center is a physical location that provides the computing resources needed to run programs, the storage capacity needed to process data, and the connectivity needed to connect employees to the resources they need to do their jobs.

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Your firm needs one delivery truck. The CFO presents you with two analyses: one for a Ford and one for a Chevrolet. This is an example of a decision involving Selected answer will be automatically saved. For keyboard navigation, press up/down arrow weys to select an answer, a mutually exclusive projects. b static derivative projects. c independent projects. d payback projects. e longitudinal projects.

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Your firm needs to choose between a Ford and a Chevrolet delivery truck. This is an example of a decision involving mutually exclusive projects.

Mutually exclusive projects are those where selecting one option means you cannot select the other, as they both cannot be undertaken at the same time. In this case, choosing a Ford truck would exclude the option of choosing a Chevrolet truck, and vice versa.

The phrase "mutually exclusive projects" is frequently used in the context of capital budgeting, where businesses select one project from a group of options based on a set of criteria, with the understanding that doing so will result in the rejection of the other projects. If a corporation is building a bridge and a skyscraper, and both require a highly specialised piece of equipment that is unique to the world, then those two projects are mutually exclusive since they cannot use the same piece of equipment simultaneously.

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While _____________ encompasses the overall process of preparing for the future, _______ is the accounting process that ties together planning and control functions.
a) Planning; budgeting
b) Planning; analyzing
c) Budgeting; analyzing
d) Budget; planning

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While planning encompasses the overall process of preparing for the future, budget is the accounting process that ties together planning and control functions.

Planning involves the identification of objectives and the development of strategies and tactics to achieve them. This process is critical for organizations to ensure that they are moving in the right direction and that their actions are aligned with their goals. On the other hand, budgeting is the process of allocating resources to achieve those objectives. This involves creating a financial plan that details the expected revenues and expenses for a specific period, typically a year. The budget is an important tool for controlling expenses and ensuring that the organization is operating within its means. By comparing actual results to budgeted amounts, management can identify areas where expenses are exceeding expectations and take corrective action as necessary. Overall, budgeting is a critical component of the planning process, providing a means of linking strategy and financial performance.

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Although it was previously thought of as a site that could be used to network for jobs____________ is now frequently used by companies in their marketing strategy, and by salespeople to identify and quality leads.

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Social media has become an invaluable tool for businesses in the modern age. It was previously thought of as a site that could be used to network for jobs, but is now frequently used by companies in their marketing strategy, and by salespeople to identify and quality leads.

Companies are able to create a presence on social media and build relationships with potential customers. This helps them to build brand awareness and increase their exposure. It also allows them to reach a much larger audience than traditional marketing methods. It can be used to promote products and services, and to build relationships with customers.

Salespeople can use social media to identify and qualify leads. This allows them to reach potential customers who are interested in their products or services.

They can use social media to target specific demographics, such as age, gender, location, and interests. This allows them to tailor their messages to the right people. Social media also allows salespeople to connect with potential customers in a more personal way and to build relationships with them.

In conclusion, social media has become an invaluable tool for businesses in the modern age. It was previously thought of as a site that could be used to network for jobs, but is now used by companies in their marketing strategy, and by salespeople to identify and quality leads.

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nike's goal to increase sales of its running shoes by 25 percent during the first six months of the new fiscal year is an example of a .

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Nike's goal to increase sales of its running shoes by 25 percent during the first six months of the new fiscal year is an example of a specific, measurable, achievable, relevant, and time-bound (SMART) business goal.

This goal is specific because it outlines the particular product line that the company wants to increase sales for, running shoes. It is also measurable because the company has set a specific target, a 25 percent increase, that it can measure its progress against. The goal is also achievable because it is based on the company's previous sales data and market research that suggest a potential demand for running shoes. Additionally, Nike has a strong brand and a proven track record of success in the sports apparel market, making it more likely to achieve this goal. Moreover, the goal is relevant to Nike's overall business strategy, which is to be a leader in the sports apparel industry. By increasing sales of running shoes, Nike is positioning itself to meet the needs of its target market, which is health and fitness enthusiasts. Finally, the goal is time-bound because Nike has set a specific deadline, the first six months of the new fiscal year, to achieve its objective. This timeframe helps the company focus its efforts and resources to achieve its goal within a specific period. Overall, Nike's goal is an excellent example of a SMART business goal that is specific, measurable, achievable, relevant, and time-bound.

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Explain for me what the Food and Drugs Administration is andsome of its major role in the healthcare industry in thiscountry.

Answers

The Food and Drug Administration (FDA) is a regulatory agency within the US Department of Health and Human Services.

It is responsible for protecting public health by ensuring the safety, efficacy, and security of food, drugs, medical devices, and other products. The FDA plays a major role in the healthcare industry in the country by regulating the development, manufacturing, and distribution of medical products.

One of the major roles of the FDA is to approve new drugs and medical devices before they can be marketed and sold to consumers. The FDA evaluates the safety and effectiveness of new products through rigorous testing and clinical trials. It also monitors and regulates the quality of drugs and medical devices already on the market, by reviewing adverse event reports, conducting inspections, and enforcing compliance with regulations.

The FDA also plays a critical role in ensuring the safety of the food supply in the US. The agency sets standards for food labeling, and monitors food production, distribution, and safety. The FDA also regulates the use of food additives, food contact substances, and dietary supplements.

Overall, the FDA’s major role in the healthcare industry is to protect public health by ensuring the safety and efficacy of food, drugs, and medical devices, and by regulating the industry to prevent harm to consumers.

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T/F analytics help managers understand what is happening in the organization by analyzing trends and patterns in data. descriptive predictive prescriptive data warehouse

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The given statement-''analytics help managers understand what is happening in the organization by analyzing trends and patterns in data. descriptive predictive prescriptive data warehouse'' is True.

Analytics are useful tools for managers to gain insights into what is happening in their organization by analyzing trends and patterns in data. There are three main types of analytics: descriptive, predictive, and prescriptive.

Descriptive analytics focus on summarizing and presenting historical data to provide insights into past performance. This type of analytics is often used to identify trends and patterns in data that can help managers understand what has happened in the past.

Predictive analytics, on the other hand, use statistical models and machine learning algorithms to make predictions about future events based on historical data. This type of analytics is often used to forecast future trends and to identify potential risks and opportunities.

Prescriptive analytics takes things a step further by using machine learning algorithms and optimization techniques to provide recommendations on what actions managers should take in order to achieve specific outcomes. This type of analytics is often used to help managers make decisions in complex and uncertain situations.

In order to carry out these types of analytics, companies often use a data warehouse to store and manage their data. A data warehouse is a central repository of data that is designed to support business intelligence activities such as analytics, reporting, and data mining.

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large minimum efficient scale of plant combined with limited market demand may lead to multiple choice shared monopoly. natural monopoly. patent monopoly. government franchise monopoly.

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The situation you described, where a large minimum efficient scale of plant combined with limited market demand, may lead to a natural monopoly.

A large minimum efficient scale of plant combined with limited market demand may lead to a natural monopoly. This occurs when the market demand is not sufficient enough to support multiple firms producing the same goods or services. As a result, one dominant firm may emerge and achieve economies of scale, making it difficult for new entrants to enter the market.

This dominant firm may then be able to control prices and output levels, resulting in a shared monopoly. It is important to note that a patent monopoly and government franchise monopoly are not applicable in this scenario as they are based on legal protections and exclusive rights granted by the government, rather than market conditions.

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T/F Adjusting the annual cost of automobile insurance based on mileage driven is an example of utilization pricing.

Answers

The statement "adjusting the annual cost of automobile insurance based on mileage driven is an example of utilization pricing" is True.

Utilization pricing, also known as usage-based pricing or pay-as-you-go pricing, is a strategy where the cost of a product or service is determined by the level of usage by the customer.

In the case of automobile insurance, the insurer adjusts the premium based on the number of miles driven by the policyholder during the policy period. This method of pricing considers the risk factors associated with driving more miles, as higher mileage increases the likelihood of accidents and, consequently, insurance claims.

Utilization pricing benefits both the insurer and the policyholder. For the insurer, it allows them to more accurately assess the risk and charge a fair price based on actual usage, minimizing the chances of underestimating or overestimating the risk associated with a particular policyholder. For the policyholder, this pricing model can lead to lower insurance costs if they drive less than the average driver, rewarding them for their responsible driving habits.

Moreover, utilization pricing can incentivize drivers to reduce their overall driving, as they become more aware of the financial impact of their driving habits. This can potentially lead to fewer accidents and lower overall claims for the insurance industry. In summary, adjusting the annual cost of automobile insurance based on mileage driven is a practical example of utilization pricing, benefiting both insurers and policyholders while promoting responsible driving behavior.

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which of the following is not a criterion for price discrimination at the movies? choose one: a. time of the show b. senior citizen or student discounts c. day of the week d. movie genre e. concession pricing

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Price discrimination does not depend on the movie genre and is not a criterion for price discrimination. Option D is the correct answer.

Price discrimination is said when a discount is given to Children and old people who are over a certain age and the discount is not given to people whose age does not match the criteria. For Movie theaters, this type of price discrimination is used because children and the elderly have less income when compared to adults and they can't afford a full-price ticket.

Coupons, age discounts, occupational discounts, retail incentives, gender-based pricing, and financial aid all this come under Price discrimination. The airline industry is one example of price discrimination. The movie genre is about the type of  is like drama, action, comedy, etc not a criterion for price discrimination

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the clause in a collective bargaining agreement sets forth that employees who receive union benefits must join the union or pay union dues.

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The clause in a collective bargaining agreement that requires employees who receive union benefits to join the union or pay union dues is a common practice in many industries.

This provision is designed to ensure that all employees who benefit from union representation and the collective bargaining process contribute their fair share to support the union's work. By requiring all employees to either join the union or pay dues, the union can effectively negotiate better wages, benefits, and working conditions for all members. Failure to comply with this clause may result in disciplinary action, including termination of employment. Therefore, it is important for employees to carefully review their collective bargaining agreement and understand their rights and obligations under the terms of the agreement.

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the current ratio is a measure of liquidity that reflects group of answer choices how many current assets you own free and clear. your debt payments for the current period. how many times you can pay off your current liabilities by using your liquid assets. the portion of your total liabilities that are considered current liabilities.

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The current ratio is a financial ratio that measures a company's ability to pay off its current liabilities with its current assets. The correct option is how many times you can pay off your current liabilities by using your liquid assets.

It reflects how many times a company can pay off its current liabilities by using its liquid assets. In other words, it shows whether a company has enough short-term assets to cover its short-term debts. The formula for the current ratio is current assets divided by current liabilities.

Current assets are assets that can be easily converted into cash within one year, such as cash, marketable securities, inventory, and accounts receivable. Current liabilities are debts that are due within one year, such as accounts payable, accrued expenses, and short-term debt.

A high current ratio is generally considered to be a good indicator of a company's liquidity and ability to pay off its debts. A ratio of 2:1 or higher is generally considered to be good. However, a very high current ratio may indicate that a company is not using its assets efficiently and may be missing out on investment opportunities.

In summary, the current ratio is an important measure of a company's liquidity and ability to pay off its current liabilities with its current assets. It is calculated by dividing current assets by current liabilities and a high current ratio is generally considered to be a good indicator of financial health. The correct option is how many times you can pay off your current liabilities by using your liquid assets.

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which of the following is an example of a firm? responses a a city governmenta city government b a family with two childrena family with two children c a restauranta restaurant d a universitya university

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C) A restaurant is an example of a firm. A firm is a business organization that produces and sells goods or services. Restaurants are establishments that provide food and beverages to customers for a fee.

They are run by owners or managers and employ staff to prepare and serve the food. The other options, a city government, a family with two children, and a university, are not examples of firms as they are not businesses that produce and sell goods or services.

Therefore,  The correct answer is: c. A restaurant A firm is a business organization, such as a corporation or partnership, that sells goods or services to consumers. In this case, a restaurant fits the description as it provides food services to customers, while the other options are not businesses.

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The ethical concept of independence means that an accountant employed:A. by a corporation cannot prepare financial statements for use by the company's bankB. by one company cannot work part-time for another companyC. by an auditing firm cannot own any stock in the company being auditedD. by one company cannot accept a job with another company in the same industry

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Answer: (C) by an auditing firm cannot own any stock in company being audited.

The ethical concept of independence in accounting explains it as being made up of two elements: ‘Independence of mind’ and ‘independence of appearance’. The former is still defined to include integrity, objectivity and skepticism. The latter is defined as being free from ‘facts and circumstances’ that would lead a reasonable and informed third party to conclude that integrity, objectivity or skepticism was compromised.

It refers to the requirement that an accountant must remain objective and impartial in their work, free from any conflicts of interest or bias.  This means that they should not have any financial or personal interest in the companies they are auditing or working for. So Owning stock in a company being audited could compromise an accountant's objectivity and create a conflict of interest.

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Thor youtart with a balance of $570 on your credit card. During the month your charge $200 and make a payment of $400. During the second on you change and make a payment of $280. Assume that your dit card charges a 204 APR Complete the following the found your answers to the Prev preyous balance France Charge Purchase Payments New Balance Montti 1 Month 2 3. (-/11.8 Points] DETAILS MY NOTES ASK YOUR TEACHER PRACTICE ANOTHER You have credit card with an APR 20 The payment 120 mm Davant Complete the buyers to the nearest Fine Chan Blue Balan Monili . M
preyous balance France Charge Purchase Payments New Balance Montti 1 Month 2 3.

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The interest is calculated based on the previous balance, so it increases as the balance is carried over from one month to the next.

Month 1:

Previous balance: $570.00

Charge: $200.00

Payment: $400.00

Interest: $5.70 ($570.00 x 0.20 x 1/12)

New balance: $375.70 ($570.00 + $200.00 - $400.00 + $5.70)

Month 2:

Previous balance: $375.70

Charge: $0.00

Payment: $280.00

Interest: $6.26 ($375.70 x 0.20 x 1/12)

New balance: $101.96 ($375.70 + $0.00 - $280.00 + $6.26)

Month 3:

Previous balance: $101.96

Charge: $0.00

Payment: $0.00

Interest: $2.04 ($101.96 x 0.20 x 1/12)

New balance: $104.00 ($101.96 + $0.00 - $0.00 + $2.04)

Therefore, the answers for the table are:

Previous balance: $570.00, $375.70, $101.96

Charge: $200.00, $0.00, $0.00

Purchase payments: $400.00, $280.00, $0.00

New balance: $375.70, $101.96, $104.00

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Sandy Cart Shop is a manufacturer of golf carts. Peter Cranston, the plant manager of Sandy Cart, obtains the following information for Job #22 in August 2020. A total of 26 units were started, and 6 spoiled units were detected and rejected at final inspection, yielding 20 good units. The spoiled units were considered to be normal spoilage. Costs assigned prior to the inspection point are $1,350 per unit. The current disposal price of the spoiled units is $245 per unit. When the spoilage is detected, the spoiled goods are inventoried at $245 per unit. Required: Prepare the journal entries to record the normal spoilage, assuming the following: a. The spoilage is related to a specific job. b. The spoilage is common to all jobs. c. The spoilage is considered to be abnormal spoilage. (Record debits first, then credits. Exclude explanations from any journal entries.)

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The spoilage is related to a specific job: Debit Work in Process: $1,470 to Credit Spoiled Goods Inventory: $1,470

a. The spoilage is related to a specific job (Job #22):

1. Debit Work in Process - Job #22: $1,470 (6 spoiled units x $245)
2. Credit Spoiled Goods Inventory: $1,470 (6 spoiled units x $245)

b. The spoilage is common to all jobs:

1. Debit Work in Process - Overhead: $1,470 (6 spoiled units x $245)
2. Credit Spoiled Goods Inventory: $1,470 (6 spoiled units x $245)

c. The spoilage is considered to be abnormal spoilage:

1. Debit Loss from Abnormal Spoilage: $6,630 (6 spoiled units x $1,105, where $1,105 is the difference between costs assigned prior to the inspection point of $1,350 and the current disposal price of $245)
2. Credit Work in Process - Job #22: $6,630 (6 spoiled units x $1,105)

These journal entries demonstrate how to account for normal spoilage under different scenarios, whether it is related to a specific job, common to all jobs, or considered abnormal spoilage.

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Sandy Cart Shop is a manufacturer of golf carts. Peter Cranston, the plant manager of Sandy Cart, obtains the following information for Job #22 in August 2020. A total of 26 units were started, and 6 spoiled units were detected and rejected at final inspection, yielding 20 good units. The spoiled units were considered to be normal spoilage. Costs assigned prior to the inspection point are $1,350 per unit. The current disposal price of the spoiled units is $245 per unit. When the spoilage is detected, the spoiled goods are inventoried at $245 per unit. Required: Prepare the journal entries to record the normal spoilage, assuming the following:

a. The spoilage is related to a specific job.

b. The spoilage is common to all jobs.

c. The spoilage is considered to be abnormal spoilage. (Record debits first, then credits. Exclude explanations from any journal entries.)

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