Monopoly resources are the barrier to entry that allows Tony's Tree Service to maintain its monopoly. Option a is correct.
What is a monopoly?It can be defined as an organization or institution that dominates the market in which it operates, because it is the only company that provides such a product or service, that is, there is no offer of substitute products for such good.
Therefore, monopoly resources, such as bucket trucks and wood chippers, are entry barriers that make it difficult for new companies to enter the same market segment, as they are expensive resources in addition to being a specific niche.
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in general, groups organized on behalf of businesses and industries have more lobbyists and more financial resources than citizen groups.
true, groups organized on behalf of businesses and industries have more lobbyists and more financial resources than citizen groups.
In its original sense, lobbying related to efforts to influence legislators' votes, typically in the lobby outside the legislative chamber. Lobbying is any endeavor by people or private interest organizations to influence government decisions. Any political system will inevitably involve some type of lobbying.
The practice of lobbying, which has drawn particular attention in the US, can take many different forms. Before legislative committees, group representatives may testify. Government representatives may be "buttonholed" in hotels, resorts, or private residences.
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Last year, a vendor cost of goods sold was $8,000 and average inventory investment was $500. This vendor's ________ was 16.-fill rate-weeks of supply-inventory turnover
This vendor's inventory turnover was 16.-fill rate-weeks of supply-inventory turnover
Inventory turnover is the period of time between when a corporation purchases a product and when it is sold. Having sold all of the merchandise that was purchased, less any items lost to damage or shrinkage, is referred to as a complete turnover of inventory.
Inventory turnovers occur frequently in successful businesses, however the number varies by industry and product category. While particularly high-end luxury items, such as luxury handbags, typically see few units sold per year and lengthy production schedules, consumer packaged goods (CPG) typically have rapid turnover.
Turnover can be impacted by a variety of inventory management issues, such as fluctuating client demand, inadequate supply chain planning, and overstocking.
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due to the market inefficiencies created by , one of the roles of government is to limit their market power or even to eliminate them entirely
Due to the market inefficiencies created by monopolies, one of the roles of government is to limit their market power or even to eliminate them entirely.
How are natural monopolies governed by the government?In most instances of natural monopolies that the government permits, there are regulatory bodies in each area to act as the general public's watchdog. Usually, public commissions or state-run departments of public utilities are in charge of regulating utilities.
Why does the government typically control the costs, output, and caliber of products and services created by natural monopolies?to guarantee lower pricing for customers than would be the case in the absence of regulation. The sole vendor in a market is a pure —-. the variation in a company's total revenue caused by a single unit change in the amount of output produced and sold.
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The illness of which president led to his wife assuming some of his responsibilities and decision making?.
The illness of president Woodrow Wilson led to his wife assuming some of his responsibilities and decision making.
In December 1915, during Wilson's first term as president, she married the widower Wilson. Following President Wilson's severe stroke in October 1919, Edith Wilson played an important role in his administration.
Woodrow Wilson-Thomas Woodrow Wilson was an American politician and academic who served as the United States' 28th President from 1913 to 1921. Wilson, a Democrat, served as president of Princeton University and as governor of New Jersey before winning the presidential election in 1912.
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_____ helps develop an accurate projection of a project’s financial expenses and benefits.
Project Cost Management helps develop an accurate projection of a project’s financial expenses and benefits.
What is cost management?Project Cost Management is a technique that makes use of technology to monitor cost and productivity over the course of an enterprise-level project's entire lifecycle. PCM includes a number of particular project management processes, such as estimating, job controls, field data gathering, scheduling, accounting, and design. The practise of organising and regulating a company's operating expenses is known as cost management. In order to budget, anticipate, and monitor costs more accurately, it also involves gathering, evaluating, and reporting cost information. Cost management is a task that involves the procedures needed to keep projects' finances under good control (evaluating, estimating, budgeting, monitoring, analyzing, forecasting and reporting the cost information).
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On-a-Roll, Inc. amortizes its copyright of $20,000 over 20 years. Miss Hap, the bookkeeper, forgot to record the amortization in the current year. The effect of this mistake causes ______.
On-a-Roll, Inc. amortizes its copyright of $20,000 over 20 years. Miss Hap, the bookkeeper, forgot to record the amortization in the current year. The effect of this mistake causes net income and asset to be overstated.
Overstated balance means the amount of balance is more but it should be less. It can happen due to error or omission.
As copyright amortization entry should be Amortization expense a/c debit to copyright a/c credit
Amortization expense is carried to profit and loss account which reduces the net income or profit. As the entry is not recorded therefore it will increase the net income. Hence net income balance will be overstated.
Amortize cause asset balance to decrease, but due to this mistake asset balance is not get reduced which results in asset balance overstated.
This mistake can be solved by recording the entry in the financial statements.
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Buying behavior may be defined as the decisions and actions of people involved in buying and using products. Which of the following is normally included major focus in the study of buying behavior?
(a) Institutional buying behavior
(b) Personal buying behavior
(c) Consumer buying behavior
(d) Governmental buying behavior
The option that is normally included as major focus in the study of buying behavior is consumer buying behavior. The Option C is correct.
What does Buying behavior involves?In marketing, a buyer behavior means the decision and acts people undertake to buy products or services for individual or group use. Also known as “consumer buying behavior” often applies to individual customers in contrast to businesses.
This behavior is a driving force behind any marketing process and involves understanding why and how people decide to purchase product or why they are so loyal to one particular brand is the number one task for companies that strive for improving their business model and acquiring more customers.
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In a statement of cash flows, proceeds from issuing equity instruments should be classified as cash inflows from.
The proceeds from issuing equity instruments should be listed as cash inflows from lending activities in a statement of cash flows.
Where does equity go on cash flow statement?
The income statement, balance sheet, and cash flow statement are the three main financial reports that businesses consistently produce. The cash flow statement is also referred to as the statement of cash flows. The cash flow statement is useful since most organisations utilising accrual basis accounting find it challenging to keep track of their cash inflows and expenditures.
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Which checking account would be best for kiera? account
A bank account is labeled Minimum Balance with entries[tex]500[/tex]dollars, [tex]250[/tex]dollars[tex], 50[/tex] dollars.
A bank account is a financial record of the financial transactions between a bank and a customer that is kept by a bank or other financial organization. The terms and conditions for each type of account each financial institution offers are set by the institution itself. These accounts are categorised into categories that are easily understood, such as deposit accounts, credit card accounts, current accounts, loan accounts, or many other types of accounts. A consumer could have multiple accounts. When a customer opens an account, the money they deposit with the financial institution is recorded in the account they choose. Loan loaders allow for the withdrawal of money.
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A bank account is labeled Minimum Balance with entriesdollars, dollars dollars.
A bank account is a financial record of the financial transactions between a bank and a customer that is kept by a bank or other financial organization. The terms and conditions for each type of account each financial institution offers are set by the institution itself. These accounts are categorised into categories that are easily understood, such as deposit accounts, credit card accounts, current accounts, loan accounts, or many other types of accounts. A consumer could have multiple accounts. When a customer opens an account, the money they deposit with the financial institution is recorded in the account they choose. Loan loaders allow for the withdrawal of money.
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Say you own an asset that had a total return last year of 11.95 percent. If the inflation rate last year was 2.32 percent, what was your real return?
The real return last year was 9.63 percent.
Real return is calculated by subtracting the inflation rate from the total return.
In this case, 11.95 percent (total return) - 2.32 percent (inflation rate) = 9.63 percent (real return).
In the field of economics, inflation is the broad term for a rise in the cost of goods and services across an economy.
Each unit of currency may purchase fewer products and services as the general price level rises, hence inflation is associated with a decline in the purchasing power of money.
After deducting taxes and inflation, an investment's real return is what was made. Real returns are less favourable than nominal returns, which do not account for inflation or taxes.
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bema is a finance manager for glorious gardens, a wholesale florist. as finance manager, which of the following would be one of bema's responsibilities?
a) Preparing tax returns
b) Preparing financial statements
c) Planning for spending funds on long-term assets, such as plant and equipment
d) Production planning and resource development
Bema's responsibilities as a financial manager include budgeting for long-term assets such as plant and equipment. Thus, the correct choice is (c) Planning for spending funds on long-term assets, such as plant and equipment.
What exactly is term budgeting?A budget is an estimate of revenue and costs for a given period of time that is generally created and re-evaluated on a regular basis. Budgets may be created for an individual, a group of individuals, a company, a government, or almost anything else that generates and spends money. Budgeting is essential for managing monthly spending, preparing for life's unexpected occurrences, and being able to buy big-ticket things without falling into debt. Keeping track of how much you make and spend does not have to be a chore, does not require you to be a math genius, and does not preclude you from purchasing the items you desire. It simply implies that you'll know where your money is going and will have more control over your budget.
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in the event of a crisis, your company should be ready to respond immediately. therefore, having a crisis management plan is an important preparatory step. the ceo and pr director should handle external communication. additionally, your company should appoint a crisis team of five to seven employees who are responsible for executing the crisis management plan. this team will be responsible for implementing the plan and communicating important information internally.
First, there needs to be communication between the CEO and the PR director. They must rely on the crisis team because they will be in charge of carrying out the plan at that point.
A disruptive and unforeseen occurrence that poses a risk to an organization or its stakeholders must be handled through the crisis management process. The 1980s saw numerous large-scale industrial and environmental disasters, which gave rise to the subject of crisis management.
A crisis management team's job is to reduce tension. When a crisis is anticipated and resolution plans are in place, a crisis management team is effective. Employees and shareholders should be informed of the problem as soon as possible by the crisis management team.
First, a plan is required. Communication between the CEO and the PR director is necessary first. The crisis team will then be in charge of carrying out the plan, therefore they must rely on them. Communication between the two sides is necessary.
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the _____ is responsible for all aspects of an organization’s iss and is often a corporate vice president.
Chief Information Officer (CIO) is responsible for all aspects of an organization’s iss and is often a corporate vice president.
How does a Chief Information Officer function?In order to ensure that the IT organization of a firm produces results that support the objectives of the business, the chief information officer (CIO) supervises the people, processes, and technologies inside that organization.
Why is CIO vital?A C-level executive known as a Chief Information Officer (CIO) is responsible for more than just managing your IT systems and problems on a daily basis. The CIO use proactive IT planning to oversee, put into practice, and utilize your technology in the most effective and unified way feasible.
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PLEASE HELP
pt 1. You work for an ad agency that has a Super Bowl sponsor as a client. What approach would you recommend for your agency as it develops a campaign—universal, customized for each geographical region, or something else, and why?
pt 2. What types of companies could benefit from placing ads on the NFL website, and how can they use the internet effectively to promote their products?
The kind of campaign that would work best for a Super Bowl is one that is universal. This is because the nature of people who come to the Super Bowl can best be described as a heterogenous marketing segment.
The kind of companies that could benefit from placing ads on the NFL website are those in the sports, health, and fitness industry.
What is a universal campaign?Universal Ads provides you with unique, cross-platform insights into the data you need to be successful. Events from the bottom of the funnel are integrated across platforms. Ad network conversion rates are contrasted. Long-term trends, are segmented by platform, ad set name, channel, and other factors.
Previous research has found that businesses' sales do not increase when their Super Bowl commercials run. New university research, on the other hand, reveals that Super Bowl advertising causes brief increases in web searches and word-of-mouth impressions.
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Lights, Camera, and More sells filmmaking equipment. The company offers three purchase options: (1) pay full cash today, (2) pay one-half down and the remaining one-half plus 10% in one year, or (3) pay nothing down and the full amount plus 15% in one year. George is considering buying equipment from Lights, Camera, and More for $110,000 and therefore has the following payment options:Payment Today Payment inOne Year Total PaymentOption 1 $110,000 $ 0 $110,000Option 2 55,000 60,500 115,500Option 3 0 126,500 126,500Required:1-a. Assuming an annual discount rate of 10%, calculate the present value and the total cost. (FV of $1, PV of $1, FVA of $1, and PVA of $1) (Use appropriate factor(s) from the tables provided. Round your answers to 2 decimal places.)Present value of payment in one year Total present value (or total cost)Option 1:Option 2:Option 3:1-b. Which option has the lowest total cost in present value terms?Option 1Option 2Option 3
Appropriate discount factor at 10% for 1 year = 1 / (1 + 0.1) = 1 / 1.1 = 0.909 (rounded off). The lowest Total Cost in present value terms is of Option 2 = $ 109,994.50.
In ethics and social sciences, price denotes the degree of importance of something or motion, with the aim of figuring out which actions are first-rate to do or what manner is fine to stay (normative ethics in ethics), or to explain the significance of different actions. price systems are potential and prescriptive ideals; they have an effect on the moral conduct of a person or are the basis in their intentional sports. often primary values are robust and secondary values are suitable for adjustments. What makes an motion precious may additionally in turn depend on the moral values of the items it will increase, decreases, or alters. An object with "ethic value" may be termed an "ethic or philosophic desirable".
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bonnie is most concerned about being able to buy additional insurance without undergoing medical exams. which of the following riders should she consider?
Bonnie is most concerned about being able to buy additional insurance without undergoing medical exams. Guaranteed insurability option riders should she consider
Guaranteed Insurability is an optional feature of life and health insurance that gives the insured the freedom to buy more coverage without having to get a physical or otherwise demonstrate their health.
By using guaranteed insurability or guaranteed purchase option riders, you can raise the death benefit of your life insurance policy at a later time without having to undergo a medical examination. One or more people you choose as beneficiaries will receive a particular death benefit from a standard life insurance policy. You can improve or increase the coverage of your insurance policy using riders.
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below are the summarized statements of cash flows for two companies. based on the information discussed in class, which company has a stronger statement of cash flows? car corporation bus corporation net cash flows from operating activities 1,100 25,600 net cash flows from investing activities 2,700 (6,250) net cash flows from financing activities 4,200 (11,700) net change in cash $8,000 $7,650
Net change in cash $8,000 $7,650 has a stronger statement of cash flows.
The amount of money that flows into and out of a business is referred to as its cash flow .For businesses, sales bring in money, but they also have expenses. They might also make money from investments, royalties, licensing agreements, and interest. Additionally, they could provide things on credit with the promise of payment later. Evaluating the quantity, timeliness, and unpredictable nature of cash flows as well as their origins and destinations is one of the most important objectives of financial reporting. It is essential for figuring out an organization's liquidity, adaptability, and overall financial success. A company's ability to fulfill commitments, reinvest in its business, distribute earnings to shareholders, cover costs, and function as a safety net in case of impending financial troubles is indicated by positive cash flow.
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Net change in cash $8,000 $7,650 has a stronger statement of cash flows.
The amount of money that flows into and out of a business is referred to as its cash flow .For businesses, sales bring in money, but they also have expenses. They might also make money from investments, royalties, licensing agreements, and interest. Additionally, they could provide things on credit with the promise of payment later. Evaluating the quantity, timeliness, and unpredictable nature of cash flows as well as their origins and destinations is one of the most important objectives of financial reporting. It is essential for figuring out an organization's liquidity, adaptability, and overall financial success. A company's ability to fulfill commitments, reinvest in its business, distribute earnings to shareholders, cover costs, and function as a safety net in case of impending financial troubles is indicated by positive cash flow.
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specialty insurers such as those offering surety bonds, aviation insurance, and livestock mortality insurance usually
Specialty insurers that provide livestock mortality insurance, surety bonds, and aviation insurance typically centralize the underwriting process.
What tasks are carried out by underwriters?The degree of business risk for insurers is evaluated by underwriters. By appropriately valuing investment risk, underwriting contributes to the establishment of suitable premiums, the creation of a market for securities, and the setting of reasonable borrowing rates for loans. Insurance underwriters assess the risks associated with insuring individuals and assets and determine a risk's price.
Who is a part of the underwriting process?Your lender must first confirm the details of your income, assets, debt, and property in order to grant you the loan. Underwriting is the name given to this process. The level of risk that a lender will tolerate if they decide to provide you a loan is determined by an underwriter, a financial expert who evaluates your financial condition.
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a. after spending hours researching his choices, mark decides on a laptop that will cost him $799. as he walks into his local retailer, a salesman presents him a laptop with marginally better features at the same price. however, mark would have to do further research to verify that the new alternative is in fact better. as a result, he decides that the laptop he previously decided on is good enough and buys it. Marks decision is an example ofa. bounded rationalityb. fairnessc. risk aversion
As a result, he decides the laptop he previously decided on is good enough and buys it Bounded Rationality.
We try to satisfice rather than optimize when making decisions as a result of bounded rationality. To put it another way, we aim for a decision that will be adequate rather than the best one that is possible.
Even though bounded rationality leads us to make acceptable decisions, that does not necessarily imply that they are the best ones. Instead of calling us "homo economicus," the "perfect rational man/woman," economists refer to us as "satisfiers." We choose inconsistently because we choose "good enough" options rather than the best ones.
Because companies will use marketing strategies to try and profit from our flawed decision-making, we need to be aware of it. They frequently label their goods with alluring qualifiers and descriptors that are ambiguous at best, like the term "cage-free" on an egg carton.
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FILL IN THE BLANK. ___ are ostensibly designed to protect the parental rights of a putative father who has registered by giving him notice of a pending adoption proceeding.
Financial statement are ostensibly designed to protect the parental rights of a putative father who has registered by giving him notice of a pending adoption proceeding.
Despite occasional linguistic variations, "putative father" generally refers to a male who alleges or asserts parental rights for a child born to a woman to whom he was not married at the time of the kid's birth. The father acquires parental responsibility for his kid by having his name added to the birth certificate. After then, his child is eligible for benefits including Social Security, life insurance, military pay, and inheritances. To provide a man in this situation with notice before any termination procedures, Pennsylvania keeps a record of putative dads.
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which of the following controls would most likely reduce the risk of diversion of customer receipts by a client’s employees?
(1) A bank lockbox system.
(2) Prenumbered remittance advices.
(3) Monthly bank reconciliations.
(4) Daily deposit of cash receipts.
Option (a), a bank lockbox system would probably reduce the likelihood that a client's staff would steal customer receipts.
What is a bank lockbox system?Businesses can receive payments from customers by using the lockbox banking facility that banks provide as a service. The service directs customer payments to a specific post office box rather than to the company.
When you use a bank's lockbox service, you have access to one or more lockboxes, which are simply post office boxes that the bank can put up across the country so that your business can collect client checks or payments. Lockbox solutions enable businesses to receive money more quickly.
Who use a lockbox setup?Lockboxes are available as retail or wholesale. Retail lockboxes are frequently utilized by companies that get a lot of small-dollar cheques. For instance, medical practices frequently receive a large number of postal checks in a range of amounts, based on the copays of the patients.
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pricing objectives are derived from broader marketing objectives. organizations using a multisegment marketing approach to marketing will likely have different objectives for each brand offered to the market. smaller firms that seek to fill niche markets will often use only a single approach to pricing products. the objectives and goals of a pricing strategy are one of the most overlooked elements in the marketing mix. many firms use simplistic approaches to pricing and fail to recognize the strategic importance that solid pricing objectives can offer. pricing objectives may be categorized as profit oriented, sales oriented, and status quo oriented.
A marketing strategy entails segmenting a target market into subsets of consumers, businesses, or countries that share common needs, interests, and priorities, and then implementing strategies to target them.
What is the significance of pricing strategy in business?Pricing is an important part of product management and one of the four Ps of the marketing mix, along with product, promotion, and location. The only revenue-generating aspect among the four Ps is price, with the others being cost centers. To remain competitive in markets with increasing volume and price pressure, the correct pricing strategy is critical. It provides you with the value you deserve for your products and services while also ensuring the earnings you require to invest in change and growth. Pricing objectives must be considered while determining an optimum pricing point. You don't want to charge anything you want for a product or service.
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Firms are willing to offer generous rebates because Multiple Choice rebates are the only type of sales promotion proven to impact sales. they tend to generate repeat customers. they are easier for the consumer to use than are coupons. the retailer and manufacturer always split the cost. rebates increase sales, but firms may not have to pay off all the rebates offered. Yanni is working on an advertisement to promote consumer awareness of the danger of solar radiation causing skin cancer. Yanni’s first concern will be to Multiple Choice identify the target audience. use public relations to buy advertising space. enlist creative advertising designers. make sure firms producing sunscreen lotions approve. collect a petition in support of controls against global warming. Warby Parker, an online retailer for prescription eyewear, offers a free, try-on at home program for its customers. Customers browse frames on Warby Parker's website and select five pairs they would like to try on. They can then choose to purchase or return the frames. Warby Parker handles all the shipping costs and provides all the return packaging. This relates to the ________ of its products. Multiple Choice observability complexity trialability relative advantage compatibility
Rebates are payments made in the past that ultimately lower the final price of a good or service. Given that you pay the whole amount of the bill up front and may later receive a partial refund, rebates vary from discounts in this regard. The rebate reduces the final purchase price by giving the customer a lump payment or a percentage of the sales price after the sale has been completed. Rebates may occasionally only be provided when a certain purchase threshold has been reached.Yanni is working on an advertisement to promote consumer awareness of danger of solar radiation causing skin cancer. Yanni’s first concern will be to identify the target audience, and get consumers’ attention.Warby Parker handles all the shipping costs and provides all the return packaging. This relates to the trialability of its products of its products.
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a cash register tape reflected total sales equaling $100, but the cash in the cash register drawer equaled $105. review the statements below and determine which is correct regarding this discrepancy. (check all that apply.)
A cash register tape reflected total sales equaling $100, but the cash in the cash register drawer equaled $105. review the statements below and determine which is correct regarding this discrepancy.
The extra $5 collected will be treated as a miscellaneous revenue.
The Cash Over and Short account will be credited for $5.
The Cash account will be debited for $105.
The Sales account will be credited for $100.
The statements below and determine regarding this discrepancy are:
a) The extra $5 collected will be treated as a miscellaneous revenue.
b) The Cash Over and Short accounts are going to be credited for $5.
c) The brokerage account is going to be debited for $105.
d) The Sales account is credited for $100.
Sales account
The register and therefore the register encompasses a favorable variance of $5. It means cash has an over of $5.
In recording these transactions are, $5 is going to be treated as miscellaneous revenue.
it's immaterial revenue out of the traditional business activities.
The $5 is credited to the cash over and short accounts since it's a positive balance.
The day is recorded because it is within the till tape. The sales account is going to be credited with $100.
To balance the entry, the brokerage account is debited with $105.
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working capital management is relatively unimportant for a small business.
This assertion is false. Working capital management is somewhat significant for a small business.
What really is working capital management for small company?Working capital management refers to the process of adjusting a business strategy in such a way that it ensures a firm can function profitably by making the best use of and monitoring its current assets and liabilities.
Working capital represents how efficiently a company is working. A business owner needs to have a better liquidity position because it doesn't have many alternative resources to rely on if its assets can't pay its expenses. A positive working capital would be when current assets surpass current obligations.
Why is working capital vital for a small business?Understanding your working capital gives you a snapshot of your operational efficiency and short-term financial health. Companies can invest and expand if they have extra working capital. However, if their working capital is negative, they could not be able to pay their debtors or workers.
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g culver's recording studio rents studio time to musicians in 2-hour blocks. each session includes the use of the studio facilities, a digital recording of the performance, and a professional music producer/mixer. anticipated annual volume is 1,290 sessions. The company has invested $2,343,000 in the studio and expects a return on investment (ROI) of 22%. Budgeted costs for the coming year are as follows. Per Session TotalDirect materials (CDs, etc.) $ 19.80 Direct labor $407.00 Variable overhead $ 55.00 Fixed overhead $1,033,320 Variable selling and administrative expenses $ 35.00 Fixed selling and administrative expenses $542,820
The budgeted costs are used to calculate the expected return on investment (ROI) of 22%.
What is return on investment?
The ratio of net income (over a period of time) to investment is known as return on investment (ROI) or return on costs (ROC). A high ROI indicates that the returns on the investment outweigh the costs. ROI is used as a performance metric to assess an investment's effectiveness or to compare the effectiveness of several different investments. It is a method of connecting profits to capital invested in terms of economics.
The ROI is calculated by taking the total expected profit (or revenue) and dividing it by the total investment (in this case, $2,343,000).
The total expected profit is calculated by multiplying the number of sessions (1,290) by the total expected revenue per session. The total expected revenue per session is calculated by adding together the total direct materials costs ($19.80), direct labor costs ($407.00), variable overhead costs ($55.00), variable selling and administrative expenses ($35.00), and fixed overhead and selling and administrative expenses ($1,033,320 + $542,820).
Therefore, total expected revenue per session = $19.80 + $407.00 + $55.00 + $35.00 + $1,033,320 + $542,820 = $1,593.00
Total expected profit = 1,290 x $1,593.00 = $2,044,770
ROI = Total expected profit / Total investment = $2,044,770 / $2,343,000 = 22%.
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product x has an income elasticity of demand coefficient of -2. it also has a cross-price elasticity of demand coefficient of -2 with product y. which of the following is true? a product x and product y are subsitutes. b an increase in the price for product x will cause an increase in total revenue for product x c an increase in the price of product y will decrease the demand for product x. d product y is an inferior good. e the demand for product x is relatively elastic.
With the given information of income elasticity and cross-price elasticity an increase in the price of product Y will decrease the demand for product X
Cross-price elasticity quantifies how responsive a product's demand is to changes in a related product price. Some products on the market frequently have connections to one another. This could imply that the demand for a product can be favourably or negatively impacted by a product's price change.
Alfred Marshall's "price elasticity of demand" theory foresaw how prices and quantities would fluctuate in relation to one another. Professor Stocking first considered that movement of two prices in the same direction explicitly demonstrates a high cross-price elasticity in the Cellophane instance because he believed that a change in the price of one product will drive a price change of its rivals in the same direction.
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l’oréal engages in _______ on mtv’s the hills: new beginnings by strategically featuring their makeup products being used by cast members to reach the product’s target markets.
l’oréal engages in product placement on mtv’s the hills: new beginnings by strategically featuring their makeup products being used by cast members to reach the product’s target markets.
What is product placement?Product placement can be described as the form of advertising which is been usd by most of the company whereby the branded goods and services are featured in a production that targets a large audience.
It should be noted that the Product placement, can as well be described as the embedded marketing, because it can be seen as a marketing technique where references to specific brands or products are incorporated into another work, such as a film or television program, with specific promotional intent.
Therefore, it is one whereby there is a strategically featuring involving the makeup products being used by cast members to reach the product’s target markets.
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What can a firm do to increase productivity in the short run once its marginal product is zero?.
Decrease the quantity of the input can a firm do to increase productivity in the short run once its marginal product is zero.
What can a firm do to increase productivity in the short run?A company must use more of a variable input in the short term to increase production. In this time, three relationships are very important. (The discussion that follows will assume that the only variable input is labor.) The whole amount of output produced is known as the total product (TP or Q).
The marginal product is zero when the total product is at its highest level. True. Marginal product is positive but declining when total product is growing at a slower rate. The law of diminishing marginal returns results in an increased slope in the short-run marginal cost curve.
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wendy is in school learning to be a welder. she spends long hours studying (and drinking coffee) and long hours practicing in the hot, dirty shop (and therefore takes frequent showers). wendy has $70.00 per month to spend on the soap and coffee she needs to function properly. in the accompanying graph, move the bc line to correctly depict wendy's budget constraint, assuming the soap costs $3.50 per bottle, and the coffee costs $14.00 per pound. if a point will not go where you want to put it, try placing the other endpoint there.
Budget constraint can be defined as the amount of items you can afford within a current budget. It illustrates the range of choices available within that budget.
Explain the above process ?
The above case can be solved by the following method
The Wendy's budget constraints through which she can buy certain articles are:
Price of soap=3.5Price of coffee = 14Income = 70Soaps bought. = 0Coffee bought = 70/14 = 5Coffee bought = 0 Soap bought = 70/3.5 = 20Hence, the above case represents the total income to be $ 70
Where the coffee = $5
And the Soap = $20
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