Life insurance is a contract between two parties that provides financial support. This is variant C.
An employee has lost access to a group life insurance plan but can switch to a new plan. The new policy has a cash value and the hand pays all premiums.
This is in discrepancy with life insurance, which requires regular payments throughout life. The introductory terms of life insurance are 10, 20, or 30 times.
While the term is frequently the cheapest form of life insurance, there are some downsides to buying insurance. The policy creates no cash value, there's no rendition quantum upon termination, and if you need to renew, the decoration is acclimated grounded on your current age and medical condition, which can mean much advanced rates.
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on september 1, a customer's account balance of $2,300 was deemed to be uncollectible. what entry should be recorded on september 1 to record the write-off assuming the company uses the allowance method?
The entry to record the write-off of the uncollectible account on September 1 under the allowance method is to debit the allowance for doubtful accounts and credit accounts receivable for $2,300.
The allowance method is a method of accounting for bad debts that involves estimating the amount of uncollectible accounts and recording an allowance for that amount. When an account is deemed to be uncollectible, it is written off by debiting the allowance for doubtful accounts and crediting accounts receivable.
This reduces the accounts receivable balance on the balance sheet and recognizes the expense on the income statement. Writing off an uncollectible account does not affect the net realizable value of accounts receivable, which is the total amount of accounts receivable less the estimated amount of uncollectible accounts.
In this case, the write-off of $2,300 reduces the net realizable value of accounts receivable by the same amount.
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hich example requires that the manager use persuasion to achieve his/her goal? technology policies finding volunteers to work at a charity event how to use equipment customer service procedures
Persuasion, the process by which a person's stations or nature are told without compulsion by the dispatches of others. This is variant B.
The manager needs some satisfying to achieve his thing of chancing levies for a charity event.
Persuasion is the act of impacting others to bear in a certain way. It means motivating others to do effects freely.
In the business world, directors and leaders must be suitable to convert their inferiors to achieve the pretensions of the association they work for. A specific thing that a company or a person wants to achieve within a certain period of time is called a business thing.
Question
What illustration inspires a director to use persuasion to achieve his thing?
a) technology policy;
b) type of use of the outfit;
c) client Service Procedures;
d) How to find levies to work at a charity event
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as the price of a good or service increases, consumers will purchase a lower quantity of that good or service due, in part, to the fact that consumers cannot afford the same quantity of a good or service at a higher price. this concept is known as the .(1 point)
The Law of Demand explains relationship between price and the quantity demanded of a product. And states that there exists an inverse relationship between the price of a product and the quantity demanded.
It is one of the most fundamental concepts in micro-economics. It works with the law of supply which attempts to explain how different economies allocate resources and determine the prices of various goods and services. Demand is derived from the law of diminishing marginal utility, which explains the use goods and services to satisfy consumers urgent needs.
However, by adding combined units of a good that consumer is willing to purchase at any given price, a market demand curve is constructed which slopes downward.
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the expense recorded from allocating the cost of equipment to the periods in which it is used is called: a deferred revenue. depreciation expense. cash basis accounting. an accrued expense. an accrued asset.
The expense recorded from allocating the cost of equipment to the periods in which it is used is called depreciation expense.
This is because equipment, like other fixed assets, loses value over time due to wear and tear, obsolescence, or other factors. Depreciation is the method of allocating the cost of equipment to the periods in which it contributes to revenue generation. It is a non-cash expense that reduces net income but does not involve any actual cash outflows.
Depreciation expense is important because it reflects the true economic cost of using equipment and helps to match expenses with revenues in the accounting period. This is in contrast to cash basis accounting, where revenue and expenses are recognized only when cash is received or paid. Deferred revenue, accrued expense, and accrued asset are all accounting concepts related to the recognition and timing of revenues and expenses, but they are not directly related to the allocation of equipment costs.
In summary, depreciation expense is the appropriate term for the expense recorded from allocating the cost of equipment to the periods in which it is used.
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which of the following is not acceptable when advertising group health insurance? a)clearly outlining policy exclusions or limitations b)not being misleading or obscure c)clearly outlining policy benefits d)providing a summary of benefits that fails to list coverage limitations
It is not acceptable when it fails to list coverage limitations.(Option d)
When advertising group health insurance, it is not acceptable to provide a summary of benefits that fails to list coverage limitations.Group health insurance is an insurance policy that covers a group of people who are usually employees of the same company or members of the same organization.
This insurance policy may also cover family members of the employees or members of the organization.The following are some of the things that should be done when advertising group health insurance
:Clearly outlining policy benefits.
Clearly outlining policy exclusions or limitations.Not being misleading or obscure.
Providing a summary of benefits that lists coverage limitations.
These are acceptable ways of advertising group health insurance, but it is not acceptable to provide a summary of benefits that fails to list coverage limitations. A summary of benefits is supposed to be an outline of the policy benefits and its coverage limitations.
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this year, barney and betty sold their home (sales price $750,000; cost $200,000). all closing costs were paid by the buyer. barney and betty owned and lived in their home for the last 18 months. how much of the gain is included in gross income?
The purchaser covered all closing expenses. For the previous 18 months, Barney and Betty owned and resided in their house. $412,500 of the gain from the sale of Barney and Betty's home is included in their gross income.
The gain from the sale of a primary residence can be excluded from gross income for tax purposes, up to a certain limit, if the homeowner meets certain ownership and use tests. According to the IRS, to qualify for the exclusion, the homeowner must have owned and used the home as their primary residence for at least two out of the five years before the sale.
In this case, Barney and Betty owned and lived in their home for the last 18 months, which is less than the two-year requirement. Therefore, they do not qualify for the exclusion, and the gain from the sale of their home must be included in their gross income.
To calculate the amount of gain that is included in gross income, we first need to calculate their capital gain.
Capital gain = Sales Price - Cost
Capital gain = $750,000 - $200,000
Capital gain = $550,000
Next, we need to prorate the capital gain based on the portion of time that they owned and lived in the home.
Prorated capital gain = Capital gain x (Time lived-in home / Total time owned home)
Prorated capital gain = $550,000 x (18/24)
Prorated capital gain = $412,500
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juniper concrete is growing, and its management team has decided to create a formal marketing strategy. how should the company begin? multiple choice by enhancing its product line by preparing a marketing mix summary by identifying its target market by researching external marketing forces by analyzing secondary data
To create a formal marketing strategy, the company should begin by identifying its target market.
This involves understanding the specific group of people who are most likely to buy their products and tailoring the marketing strategy to meet their needs and preferences. Once the target market is identified, the company can then proceed with other elements of the marketing mix, such as product, price, promotion, and place.
Therefore, the best option among the given multiple choices is: by identifying its target market. Although preparing a marketing mix summary, researching external marketing forces, and analysing secondary data are all important steps in developing a marketing strategy, they should follow the identification of the target market. Without a clear understanding of who the company's customers are, it is difficult to create an effective marketing strategy that will resonate with them and lead to increased sales and growth for the business.
Therefore, the first step in creating a formal marketing strategy should be to conduct market research and gather information about the company's target market, including their demographics, behaviour, preferences, and needs. This can be done through surveys, focus groups, and other research methods. Once this information is gathered, the company can then use it to create a marketing mix that is tailored to the needs and preferences of its target market, which will help to drive growth and success for the business.
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you observe that the current interest rate on short-term u.s. treasury bills is 2.27 percent. you also read in the newspaper that the gdp deflator, which is a common macroeconomic indicator used by market analysts to gauge the inflation rate, currently implies that inflation is 1.5 percent. what is the approximate real rate of interest on short-term treasury bills? (enter your answer as a percent rounded to 2 decimal places.)
The approximate real rate of interest on short-term treasury bills is 0.77%.
The real interest rate is the nominal interest rate minus the inflation rate. In this case, the nominal interest rate is 2.27% and the inflation rate is 1.5%. Therefore, the approximate real rate of interest on short-term treasury bills is:
Real interest rate = Nominal interest rate - Inflation rate
Real interest rate = 2.27% - 1.5%
Real interest rate = 0.77%
So the approximate real rate of interest on short-term treasury bills is 0.77%.
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in which of the following situations will occupancy increase? supply increases 5% and demand decreases 5% supply increases 10% and demand increases 5% supply decreases 5% and demand decreases 10% supply decreases 10% and demand decreases 5%
The following situations will occupancy increase by b. 10% and demand increases by 5%.
Occupancy is a measure of how many rooms in a hotel or apartments are currently rented out to guests. When supply and demand shift, it affects the occupancy rate. Occupancy rate can be calculated by dividing the number of rooms currently rented out by the total number of rooms available.Supply refers to the number of rooms available for rent, while demand refers to the number of people who want to rent those rooms.
When supply and demand change, they can affect occupancy. When supply increases by 10% and demand increases by 5%, occupancy increases as well because there are more rooms available, and more people want to rent them. Conversely, when supply decreases by 10% and demand decreases by 5%, occupancy decreases because there are fewer rooms available, and fewer people want to rent them.
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when a factory is operating in the short run, question 19 options: average fixed cost rises as output increases. total cost and variable cost are usually the same. it cannot alter variable costs. it cannot adjust the quantity of fixed inputs.
When a factory is operating in the short run, it cannot adjust the quantity of fixed inputs. So the option D is correct.
A factory cannot change the volume of fixed inputs while it is running in the short term. This means it can only vary the quantity of variable inputs, such as labor or raw materials, in order to produce goods and services.
The factory's output level is limited by the quantity of fixed inputs, and the cost of production is determined by the level of output. As such, a factory operating in the short run is unable to expand its production capacity or lower production costs.
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The complete question is:
When a factory is operating in the short run,
A. average fixed cost rises as output increases.
B. total cost and variable cost are usually the same.
C. it cannot alter variable costs.
D. it cannot adjust the quantity of fixed inputs.
according to the theory of comparative advantage, a country will export a good only if group of answer choices it can produce it using less labor than other countries its productivity is higher in producing the good than the productivity of other countries in producing it. its wage rate in producing the good is lower than in other countries. its cost of producing the good, relative to other goods, is at least as low as in other countries. all of the above.
According to the comparative advantage theory, a nation will only export a commodity if its production costs are at least as cheap as those in other nations when compared to other goods. So, C is the right response.
According to the idea of comparative advantage, nations should focus on creating commodities for which they have lower opportunity costs than other nations. This implies that a nation ought to create and export goods that it can make more affordably than other nations, compared to other goods.
This theory is based on the idea that countries have different resources and capabilities, and that by specializing in certain goods and trading with other countries, they can achieve greater economic efficiency and higher standards of living.
By exporting goods for which it has a comparative advantage, a country can earn foreign exchange that can be used to import other goods that it cannot produce as efficiently.
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Complete question:
According to the theory of comparative advantage, a country will export a good only if group of answer choices
A - it can produce it using less labor than other countries its productivity is higher in producing the good than the productivity of other countries in producing it.
B - its wage rate in producing the good is lower than in other countries.
C - its cost of producing the good, relative to other goods, is at least as low as in other countries.
D - all of the above.
centralization of decision making will be used in a blank strategy because the dispersed global activities of the firm that create value need to be tightly coordinated. multiple choice question.
Centralization of decision making will be used in a global standardization strategy because the dispersed global activities of the firm that create value need to be tightly coordinated.
It is tightly coordinated in order to ensure consistency and efficiency in operations and product offerings across all locations. This approach involves standardizing products, services, and processes across different markets and regions to reduce costs, increase efficiency, and achieve economies of scale. A global strategy involves offering standardized products or services across different markets, which requires a high level of coordination and control.
The dispersed global activities of the firm, such as production, marketing, and logistics, need to be tightly coordinated to ensure consistency in quality, branding, and customer experience. Centralization of decision making enables top management to make strategic decisions that align with the company's overall goals and ensure that all the dispersed activities are working towards a common objective.
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The complete question is:
Centralization of decision making will be used in a ______ strategy because the dispersed global activities of the firm that create value need to be tightly coordinated.
true or false: the discounted cash flow (dcf) valuation estimates future value as the difference between the market price and the cost of the investment.
The difference between the market price and the cost of the investment is what is estimated as future value using the discounted cash flow (dcf) valuation method. True.
Once the time value of money has been taken into account, DCF analysis calculates the value of return that an investment will provide. Any investments or initiatives with the expectation of producing future cash flows can use it. The original investment is frequently contrasted with the DCF.
A sort of financial model called discounted cash flow (DCF) valuation assesses the value of an investment by estimating how much money will be generated in the future. A DCF model is predicated on the notion that a company's value is defined by how successfully it will be able to provide cash flows for its investors in the future.
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Q02. What is the sum of relative frequencies of Groups A and B in the full sample of 2,000 observations (ignoring cells with missing values)?
a) 0.14
b) 113
c) 0.13
d) 256
The sum of relative frequencies of Groups A and B in the full sample of 2,000 observations (ignoring cells with missing values) is 256. Relative frequency is the proportion of the total frequency of a particular value or category in a dataset. Correct answer is option D
The total number of observations (2,000): Sum of relative frequencies = (Frequency of Group A + Frequency of Group B) / Total observations Sum of relative frequencies = 256 / 2,000. The result of this calculation is 0.128 or 12.8%.
Therefore, the sum of relative frequencies for Groups A and B in the full sample of 2,000 observations (ignoring cells with missing values) is 12.8%. Thus the Correct answer is option D
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many firms choose to transfer insurable risk to the capital markets through the creation of a financial instrument is called
One financial instrument that firms use to transfer insurable risk to the capital markets is called a "catastrophe bond," or "cat bond" for short.
The basic idea behind a cat bond is that a firm issues a bond that is tied to a specific risk, such as the occurrence of a hurricane or earthquake. Investors buy the bond, and if the specified risk event does not occur, the investors receive a return on their investment in the form of interest payments.
There are many variations of cat bonds, including those that cover different types of risks, such as terrorism or pandemics, and those that have different trigger levels, such as a specific dollar amount of losses or a certain number of deaths.
Overall, the use of financial instruments such as cat bonds allows firms to transfer insurable risk to the capital markets in a way that can be more cost-effective than traditional insurance, while also providing investors with an opportunity for potentially higher returns.
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ECON QUESTION !!
What is the overall objective of a business raising financial capital?(1 point)
A) decrease operating costs and increase the number of investors
B) increase revenues and the number of investors
C) reducing financial obligations and increase revenue
D) grow and increase profit
chapter 5 test, banking and finance...if you have all the answers that would be greatly appreciated
The main goal is to increase shareholder value as much as possible.
Businesses frequently make decisions that include spending money now while planning to turn a profit later. Examples are when a business purchases a machine with a 10-year lifespan, constructs a new facility with a 30-year lifespan, or launches a research and development initiative. Four basic methods exist for businesses to obtain the funding they require to fund these initiatives: (1) early-stage investors; (2) profit reinvestment; (3) bank or bond borrowing; and (4) stock sales. Business owners decide how to pay for financial capital sources when they select those sources.
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________ is when the value of a unit of currency decreases, so it is worth less than before
Question 1 options:
liquidity
inflation
equity
interest rates
brent works as a book editor in a publishing company. the chief supervisor of the company makes brent work with a different department every month. in the context of job design, this is an example of . a. job enlargement b. job rotation c. job embeddedness d. job specialization
Brent's job design example can be categorized as job rotation. Here option B is the correct answer.
Job rotation refers to the process of periodically moving employees from one job to another job within the organization. It is a technique that can be used to increase employees' skills, knowledge, and motivation, as well as to reduce boredom and monotony associated with repetitive tasks.
In Brent's case, the chief supervisor of the publishing company wants him to work with a different department every month, which means that Brent will perform various tasks within different departments. By doing so, Brent can gain a broader understanding of the company's operations, and his skills and knowledge can be enhanced as he acquires new experiences and perspectives from each department.
This approach can also help the company to increase its efficiency and flexibility as employees can be moved to different positions as needed.
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which is not an ethical obligation of a statistician? group of answer choices to support client wishes in drawing conclusions from the data to know and follow accepted procedures to acknowledge sources of financial support to ensure data integrity and accurate calculations
The statement that is not an an ethical obligation of a statistician is option (b) To support client wishes in drawing conclusions from the data
A statistician's primary ethical obligation is to provide objective and accurate analysis of data without bias or manipulation, and to ensure that the data is interpreted and reported correctly. While a statistician may work with clients to understand their needs and objectives,
They must never compromise their ethical obligation to provide accurate and objective analysis of data. Therefore, it is not ethical for a statistician to support client wishes if those wishes compromise the integrity and accuracy of the analysis or if they are not supported by the data.
Therefore, the correct option is (b) To support client wishes in drawing conclusions from the data
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The given question is incomplete, the complete question is:
Which is not an ethical obligation of a statistician?
(a) To know and follow accepted procedures.
(b) To support client wishes in drawing conclusions from the data.
(c) To ensure data integrity and accurate calculations.
(e) To acknowledge sources of financial support.
an integrated set of operating, investing, and financing budgets for a period of time is called a a.continuous budget. b.zero-based budget. c.master budget. d.flexible budget.
A master budget is a long-term combined collection of running, investing, and financial budgets. Here option C is the correct answer.
A master budget is an integrated set of operating, investing, and financing budgets that cover a specific period, usually a fiscal year. It is a comprehensive financial plan that includes budgets for all major functions of a business, such as sales, production, capital expenditures, and financing.
The master budget serves as a blueprint for a company's financial operations and allows managers to plan and control their activities effectively. It provides a framework for decision-making and helps managers to identify potential problems before they occur.
The master budget is typically created through a top-down approach, starting with overall revenue targets and working down to individual department budgets. It is an essential tool for financial planning and performance evaluation, as it allows managers to compare actual results with budgeted amounts and make adjustments accordingly.
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apple tree electronics is planning to offer its stock on the primary securities market. investors are excited as apple tree has never sold shares of their stock before. apple tree is most likely having a(n) multiple choice initial public offering. callable stock funding. institutional investment sale. stock split. open auction.\
Apple Tree Electronics is most likely having an initial public offering (IPO).
An IPO is the first time a company issues shares of its stock to the public on a primary securities market. This means that the shares will be available to individual and institutional investors to purchase for the first time. An IPO can generate a lot of excitement and attention from investors, as it provides an opportunity to invest in a company that was previously privately held. Callable stock funding, institutional investment sale, stock split, and open auction are not relevant to the context of Apple Tree Electronics going public.
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an initial decrease of the ad curve will precipitate an additional decrease due to the . multiple choice question. increase in aggregate supply marginal propensity to consume multiplier process decrease in aggregate supply
Due to the multiplier process, a first decline in the AD curve will cause a subsequent decline in the AD.
The curve of aggregate demand demonstrates the connection between both the total price level and consumer spending. An expansion of AD results from a decrease in the general price level. AD contracts in response to an increase in the general price level. The curve of aggregate demand, or AD curve, shifts to the right as the elements that make up aggregate demand—consumption spending, business investment, government expenditure, and spending on exports minus foreign goods. The AD curve will return to the left since these components start to decline. The AD curve therefore has a declining slope. The second conclusion is that P x Y will remain constant at all price levels in the near run since the total amount spent by consumers, businesses, and the government in the economy must remain constant.
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select the sentence that is concise and clear. group of answer choices customers can request a refund within 30 days of receiving defective merchandise. there is a rule that states that customers can request a refund within 30 days of receiving merchandise that is defective. there is a rule that allows customers to request a refund for defective merchandise.
The sentence that is concise and clear is: Customers can request a refund within 30 days of receiving defective merchandise.
Why concise and clear?A sentence that is concise and clear conveys information effectively and efficiently. Concise writing uses the fewest words necessary to convey meaning, while clear writing uses language that is easy to understand. Concise and clear writing makes it easier for the reader to understand the intended message.
What is concise?Concise means using as few words as possible to express an idea or thought. It means that you avoid using unnecessary words or repeating yourself. A concise sentence is brief and to the point.
The given sentence "Customers can request a refund within 30 days of receiving defective merchandise" is the correct answer to this question. It is the most concise and clear sentence among the given options. This sentence clearly states the rule that customers can request a refund within 30 days of receiving defective merchandise. The sentence is concise because it is brief and to the point, using the fewest words necessary to convey the message. It is clear because it is easy to understand and conveys the information effectively.
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jasper makes a $32,000, 90-day, 7.0% cash loan to clayborn company. jasper's entry to record the collection of the note and interest at maturity should be:
Jasper's entry to record the collection of the note and interest at maturity should be Dr. Notes Receivable for $32,000, Dr. Interest Receivable for $560, and Cr. Cash for $32,560.
To record the collection of the $32,000, 90-day, 7.0% cash loan to Clayborn Company and the interest at maturity, Jasper should follow these steps:1. Calculate the interest on the loan:
Interest = Principal x Rate x Time
Interest = $32,000 x 7.0% x (90/360)
Interest = $32,000 x 0.07 x (1/4)
Interest = $32,000 x 0.07 x 0.25
Interest = $560
2. Determine the total amount to be collected at maturity, which includes both the principal and the interest:
Total amount = Principal + Interest
Total amount = $32,000 + $560
Total amount = $32,560
3. Record the collection of the loan and interest in Jasper's general journal:
Debit: Notes Receivable - $32,000 (to reduce the notes receivable account)
Debit: Interest Receivable - $560 (to record the interest income)
Credit: Cash - $32,560 (to increase the cash account)
So, Jasper's entry to record the collection of the $32,000, 90-day, 7.0% cash loan to Clayborn Company and the interest at maturity should be: Debit Notes Receivable for $32,000, Debit Interest Receivable for $560, and Credit Cash for $32,560.
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which unique skill does a product champion usually possess? a.where to secure resources for successful development b.understanding technological aspects of an idea c.managing organizational politics d.the ability to conceive and develop new ideas
Where to secure resources for successful development is a unique skill the product champion usually possess. Option A.
A product champion is described by the American Marketing Association as "a person who takes an excessive interest in seeing that a particular process or product is fully developed and marketed." The power of product champions to make or break a product should be mentioned even though this definition is superb.
A dedicated product champion can be an excellent resource for product creation and can have an impact on a product's success. Product champions are frequently renowned business idea leaders.
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ashley furniture expects its marginal cost curve to eventually slope upward because, as with most production processes, furniture manufacturing has:
Furniture manufacturing has diminishing marginal returns. It alludes to a decrease in a manufacturing system's efficiency and the corresponding decreases in output that follow.
The margins of production shrink as marginal returns decrease, or the same amount of output may be produced at a greater cost per unit or marginal cost. When one aspect of production increases while the other aspects of production remain constant, productivity per unit decreases.
When elements of a company are incompatible, the effects could manifest. Increasing a factor of production does not always translate into a rise in marginal productivity, according to the law of diminishing marginal returns.
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sunland company manufactures and sells solar chargers for $50 each. variable costs are $40 per unit, and fixed costs total $120000. how many solar chargers must sunland sell to earn a net income of $280000? select answer from the options below 52000. 7000. 23000. 40000.
Sunland needs to sell 40,000 solar chargers to earn a net income of $280,000. (option d).
Sunland sells their solar chargers for $50 each, and it costs them $40 to manufacture each unit. Additionally, the company has fixed costs (such as rent, salaries, and other expenses) that total $120,000. To calculate how many solar chargers Sunland needs to sell to earn a net income of $280,000, we need to use a formula.
The formula to calculate the required number of units to reach a certain net income is:
(units sold x price) - (units sold x variable cost) - fixed costs = net income
We know that the price of each solar charger is $50 and the variable cost is $40. Let's plug in the numbers we have:
(units sold x $50) - (units sold x $40) - $120,000 = $280,000
Simplifying the equation, we get:
$10 x units sold - $120,000 = $280,000
$10 x units sold = $400,000
units sold = $400,000 ÷ $10
units sold = 40,000
Therefore, the answer option that matches this is 40000.
So, the correct option is (d).
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janet receives a call about a property she has listed. janet gives the caller information about the property and sets up an appointment to show the property. janet now has the opportunity to do what?
As a real estate agent, Janet has the opportunity to potentially sell the property to the caller who expressed interest in the property.
By providing information about the property and setting up an appointment to show the property, Janet is taking steps towards potentially closing a sale. Janet can showcase the property to the potential buyer during the appointment, answer any questions or concerns they may have, and potentially negotiate and finalize a sale transaction if the buyer is interested in proceeding with the purchase.
It's important for Janet to follow all relevant laws, regulations, and ethical guidelines governing real estate transactions in her jurisdiction and adhere to her professional responsibilities as a real estate agent throughout the process. It's also important for Janet to maintain good communication and follow-up with the potential buyer to ensure a positive experience and a successful outcome.
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you have a credit card with a balance of $11,800 and an apr of 17.4 percent compounded monthly. you have been making monthly payments of $230 per month, but you have received a substantial raise and will increase your monthly payments to $280 per month. how many months quicker will you be able to pay off the account?
You will be able to pay off your credit card balance approximately 18 months quicker by increasing your monthly payment to $280.
To determine how many months quicker you will be able to pay off your credit card balance, we need to calculate how many months it will take to pay off the balance with the current payment of $230 per month, and then how many months it will take with the increased payment of $280 per month.
First, we can calculate the minimum payment required by the credit card issuer each month. This is typically the greater of a fixed amount or a percentage of the balance. Assuming the minimum payment is 2.5% of the balance, the minimum payment for the initial balance of $11,800 would be $295.
Using the current payment of $230 per month, we can calculate the number of months it will take to pay off the balance as follows:
11,800 x (1 + 0.174/12)^(n) = 230[(1 + 0.174/12)^(n) - 1]/(0.174/12)
Solving for n, we get n = 77.4 months.
Next, using the increased payment of $280 per month, we can calculate the number of months it will take to pay off the balance as follows:
11,800 x (1 + 0.174/12)^(n) = 280[(1 + 0.174/12)^(n) - 1]/(0.174/12)
Solving for n, we get n = 59.4 months.
The difference is = 18 months.
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which of the following statements is false? the yield curve is a potential leading indicator of future economic growth. real interest rates indicate the rate at which your money will grow if invested for a certain period. the shape of the yield curve will be strongly influenced by interest rate expectations. the relationship between the investment term and the interest rate is called the term structure of interest rates.
The following statement is false: "Real interest rates indicate the rate at which your money will grow if invested for a certain period."
Real interest rates reflect the purchasing power of the interest rate, meaning how much goods or services you can buy with a certain amount of money.
Real interest rates consider inflation, which is the rate at which prices increase over time, to indicate the rate at which your money will grow if invested for a specific period.
The yield curve, which plots the interest rates of bonds with different maturities, has the potential to predict future economic growth.
The shape of the yield curve depends heavily on expectations about interest rates.
The relationship between the interest rate and the investment term is known as the term structure of interest rates.
Therefore, the following statement is false: "Real interest rates indicate the rate at which your money will grow if invested for a certain period."
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