Is true regarding the role of retail operations in the united states economy A majority of retail operations are small businesses like Hakims.
A retail store is the activities, systems, and processes that enable the efficient operation of an online or physical store. Retail operations include: Supply chain management. cash transaction. Store layout (both online and in-store)
The importance of a retail store typically includes supply chain, cash operations, human resources management, inventory, store layout, promotions, pricing, and data management within the retail store. Includes sides. There are many things to balance, but getting it right can help retailers differentiate themselves.
So it's more important than ever for retailers to ensure that their stores are performing at their best. Retail business is a term used to describe all the activities that make a business work well.
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bobby is trying to decide between two credit cards. one has no annual fee and an interest rate of 20 percent, and the other has an annual fee of $50 and an interest rate of 8.5 percent. if bobby pays his credit card balance in full each month, which card should he choose? multiple choice 1 he should select the card without the annual fee. he should most likely select the card with the lower interest rate. if bobby just pays the minimum payment and carries a balance from one month to the next, which card should he choose? multiple choice 2 he should select the card without the annual fee. he should most likely select the card with the lower interest rate.
Since Bobby will not incur any interest charges, he should select the card without the annual fee, Since Bobby will incur interest charges, he should most likely select the card with the lower interest rate.
A yearly charge made to customers by banks and other financial institutions for the use of their credit cards is known as an annual fee. The annual fee is added to the client's statement by the credit card company. Your annual fee will appear as one large charge on your credit card statement every year. Usually, you'll be charged the month you sign up for the card and then once every 12 months after that. An amount over and above the repayment of the principal sum is known as interest and is paid by a borrower or deposit-taking financial institution to a lender or depositor at a set rate. Interest is the cost of borrowing money or the fee you charge to lend it.
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if the economy experiences a decline in overall spending, and thus a contraction, the government could counter this by:
If the economy experiences a decline in overall spending, and so does the contraction, the government could counter this by increasing the amount spent by the government.
Increased government spending boosts the economy's overall demand and consumption, which boosts output and hastens the conclusion of recessions. It will employ expansionary policies to raise the money supply and lower interest rates in order to combat a recession. The fiscal policy makes use of the government's ability to levy taxes and make expenditures. When the economy is struggling, the government will either raise spending, cut taxes, or do both to stimulate the economy.
The multiplier is a mechanism through which a measure of economic production (like GDP) rises in response to a specific level of public spending. According to the multiplier idea, an initial burst of government expenditure spreads across the economy and is repeatedly spent, expanding it.
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An American organic potato-chip company has decided to consider global expansion. It has done its market research and found that there is a comparable market for its products. In addition, it has found the required distributors and a potential manufacturing location overseas. However, in the United States, its chips have regional themes, such as Saucy Southern Barbeque and Spicy Southwest Chili flavors, which will not easily translate into markets outside the United States. How could the company address this issue while maintaining the identifiable elements of the brand when expanding globally?
There are various strategies for addressing this issue regardless of which one you eventually adopt, you must change any of the elements of the marketing mix; two possible strategies are listed below.
How to illustrate the information?Product customization:
Changing the recipe for potato chips with the most similar flavors in the new region where the potato is distributed. It is difficult to predict how the chip flavor will be replicated in the global market, so looking for identifiable flavors per region while maintaining the brand's colors, advertising, price, and quality keeps the brand's identity untouchable even as the final product expands its lines.
Making changes to the promotion:
If changing recipes is too difficult for the product team, advertising campaigns will create a brand identity for different regions. For this, the packaging languages may change, and the methods of promotion in each region (TV, internet, influencers) may be considered to introduce the product in each region.
Alternatively, you could consider keeping the brand original and launching a strong pull marketing campaign to position the product as an International product.
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suppose that a monopolist is selling 100 units of a product at a price of $20 each. if the average variable cost at this level of output is $10.50 and average fixed cost at this level of output is $8, how much total economic profit is the firm earning?
$150 is the total economic profit, the firm is earning when a monopolist is selling 100 units of a product at a price of $20 each.
What is Economic Profit?
The difference between the revenue received from the sale of an output and the costs of all inputs used, as well as any opportunity costs, is the economic profit or loss. Economic profit is calculated by deducting opportunity costs and explicit costs from revenues earned.
Opportunity costs are a type of implicit cost that management determines and will vary depending on different scenarios and perspectives.
Understanding Economic Profit:
Economic profit is frequently examined alongside accounting profit. Accounting profit is the profit shown on a firm's income statement. Accounting profit compares actual inflows to outflows and is part of a company's required financial transparency.
Economic profit calculations differ depending on the entity and scenario. In general, it can be summed up as follows:
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which moral hazard of human resource management treats employees like inanimate objects or impersonal goods?
Moral hazard of human resource management treats employees are to help a person distinguish between right and wrong and act accordingly, ethics are values or principles that are either internalized by the human or reinforced externally.
Human resource management ethics refers to the application of distributive justice and fundamental decency to the treatment of employees. It pertains to corporate ethics. Employees should not be subjected to unjust treatment by human resource managers because of factors including race, caste, culture, external appearance, religion, or competition for jobs, among others. An ethical business advances the company's goals because motivated employees are more productive. It's important for new employees to understand how things operate at their new workplace as well as what is expected of them in terms of behavior and contributions. Human resources is responsible for writing employee handbooks that explain what is proper and incorrect. Since people are an organization's most valuable resource, doing this increases employee trust in the business.
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The standard cost for blank______ manufacturing overhead is computed the same way as the standard cost for direct labor.
The standard cost for blank variable manufacturing overhead is computed the same way as the standard cost for direct labor.
Information from standard costs is helpful in evaluating performance. Mathematical discrepancies between standard costs and actual costs are known as variances. When actual costs are lower than standard costs, and vice versa, favorable variances result.
The purpose of the following image is to illustrate the fundamental connection between real cost and standard cost. The "actual quantity" of input used to make the output is referred to as AQ. The term "real price" refers to the cost of the inputs needed to create the output. SQ and SP stand for the expected "standard" quantity and price. For materials, labor, and overhead, variance analysis can be performed.
Materials Price Variance ((standard price - actual price) X actual quantity): A variance that shows the discrepancy between the standard price for materials purchased and the amount actually paid for such materials.
The difference between the standard amount of materials that should have been used and the actual amount of materials utilized is known as the "materials quantity variance." The standard price per unit is used to calculate the quantity variation [(standard quantity - actual quantity) X standard price].
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Why is Chanel different in the way each business promotes itself?
Why is Gucci different in the way each business promotes itself?
The reason that Chanel is different in the way each business promotes itself is that Her clothing is made to be durable and worn for many years. Because of this, Chanel only employs the best craftsmen from Europe to create its products, using the best materials available.
The reason that Gucci is different in the way each business promotes itself is that Gucci, an elite Italian designer, only employs premium raw materials and advanced production techniques. Gucci also works with prominent fashion designers to produce items that are always in style.
How does Gucci set its products apart?The Business of Fashion claims that Gucci's marketing plan revolves around striking the ideal mix between fashion-forward products and timeless, essential items.
While making classic, always-in-style items, the Italian company keeps true to its brand heritage while updating crucial items to stay current with trends.
Therefore, Chanel sells its goods through a variety of distribution methods, including high-end supermarkets, multi-brand stores, e-commerce platforms, as well as those of exclusive retail locations.
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Luc, a vehicle dealer, offers to sell mel a truck and trailer, which luc claims can haul a certain weight. He knows nothing about the capability of the truck, but it is not as he asserts. Mel buys the truck. On learning the truth, mel confronts luc, who says he was not trying to fool mel—he was only trying to make a sale. This is.
Luc, a vehicle dealer, offers to sell me a truck and trailer, which Luc claims can haul a certain weight. He knows nothing about the capability of the truck, but it is not as he asserts. Mel buys the truck. On learning the truth, Mel confronts Luc, who says he was not trying to fool me—he was only trying to make a sale. This is fraudulent misrepresentation.
Truth is some things that are indisputable, supported by inquiry and quantitative measures. Facts transcend theories. they are tested through calculation and experience, or they're something that definitively occurred in the past. Truth is entirely different; it's going to embody fact, however, it can even include belief. Do you recognize the distinction between these 2 words: True vs Truth? The word TRUE is your perspective of something.
The word TRUTH is universal and can't be changed. Reality and Truth are two words that are usually misunderstood to convey an equivalent that means but to be precise they're not so. Reality is an existent fact whereas the truth is an established fact.
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Which type of tax takes a higher percentage of income from poorer people than from wealthier people?.
Regressive taxes have greater impact on the lower-income individuals than on wealthy.
What is Regressive tax?A tax that is levied in a way that the tax rate drops as the amount subject to taxation rises is referred to as regressive. The term "regressive" refers to a distribution effect on income or spending that advances from high to low so that the average tax rate is higher than the marginal tax rate. Because of the inverse relationship between the tax rate and the taxpayer's capacity to pay, as determined by assets, consumption, or income, regressive taxes place a heavier burden on the poor than the rich in terms of personal income and wealth. These taxes tend to shift the relative tax burden from those with higher ability to pay to those with lesser ability to pay, reducing the tax burden for those with higher ability to pay.
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As liv golf expands to 14 events in 2023, how much money will be available to competitors in the upcoming season?.
There will be $405 million available to contestants in the following season as LIV golf grows to 14 events in 2023.
LIV golf - what is it?The LIV Golf League, created as an alternative to the current PGA Tour, attempts to apply the principles of arena-style sporting events to the world of golf. The LIV system, which has a fundamentally different business model than the conventional structure, enables greater financial advantage for those engaged beyond just winning tournaments.
Unlike the PGA Tour, LIV golf allows appearance fees, so players vying for the $20–25 million purse are also able to get additional compensation.
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to not violate title vii's prohibition of discrimination based on religion, an employer may have to make changes in the way her business is organized to meet religious requirements of the employees. employers are required to incur:
An employer may need to alter her business to accommodate religious needs in order to stay within title vii's prohibition on discrimination based on religion. Employers must only spend a minimum amount of money.
Define the VII's prohibition of discrimination?The Civil Rights Act of 1964's Title VII forbids discrimination on the basis of race, ethnicity, religion, sex, or national origin in hiring, promoting, terminating, salary, fringe benefits, career guidance, classification, recommendations, and other facets of employment.
Equal Employment Opportunity Commission enforces this provision (EEOC).In programs and initiatives that accept federal financial aid, discrimination on grounds of race, color, and national origin is prohibited under Title VI of Civil Rights Act of 1964. The Civil Rights Center is in charge of enforcing this law.Employers who want to accommodate employees' religious requirements may need to alter the way their business is set up in order to comply with Title VII's ban on discrimination based on religion.
Thus, employers have to pay for: No more than minimal costs should be incurred to satisfy a worker's religious requirements.
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kati-lyn has to choose between eating chinese food and indian food. both chinese food and indian food cost the same. which of the following equations, where mu is marginal utility and tu is total utility, will lead to the optimal level of consumption?
The equation for Kati-lyn that will lead to the optimal level of consumption will be Marginal Utility of Chinese food = Marginal Utility of Indian food.
What is marginal utility?it is the added satisfaction that a consumer gets from having one more unit of a good or service. The concept of marginal utility is used by economists to determine how much of an item consumers are willing to purchase.
To maximize the utility, a consumer should compare the worth of marginal utility provided by each good. That is, she should compare the marginal utility per dollar of both the goods.
Since, it said that food cost is the same, then we won't need to divide marginal utility with price.
If marginal utility of Chinese food > marginal utility of Indian food :
Kati-lyn needs to spend more on Chinese food to maximize utility.
If marginal utility of Chinese food < marginal utility of Indian food :
Kati-lyn needs to spend more on Indian food to maximize utility.
If marginal utility of Chinese food = marginal utility of Indian food : then utility is maximized.
An economist always uses the marginal approach to make decisions, that is why she doesn't use total utility to make decision.
Hence, the answer is marginal utility of Chinese food is equal to marginal utility of Indian food that will lead to the optimal level of consumption.
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Hugo has been asked to create a detailed plan for the series of steps it will take to bring a new app to market. what role is he playing on his team? question 8 options: caretaker taskmaster proceduralist director
The role is he plays on his team proceduralist.
Proceduralism is the belief that no rule is acceptable apart. A formal technique and the appropriate approach yield an. Suitable rule; a rule is acceptable with the aid of virtue of being the final results of. An agreed-upon manner.
Proceduralism justifies regulations, selections, or establishments by reference to a valid procedure, as opposed to their being morally correct in line with a considerable account of justice or goodness.
Proceduralist is the broad term for a health practitioner, normally a specialist or subspecialist who performs one-of-a-kind diagnostic or therapeutic techniques. Depending on the form of procedure, this is typically related to a: healthcare professional (for surgical techniques) Interventional radiologist (for radiologically guided approaches)
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a company's advertisements in the local newspaper include a coupon designed to encourage customers to try the company's new product. this is an example of advertising based on .
This is an example of advertising based on (A) objectives.
What are objectives?The three main goals of advertising are to inform, convince, and remind. Informative advertising raises consumer knowledge of companies, their goods and services, and concepts. It can inform customers about the features and advantages of new or old items, as well as announce new programs and products.Business objectives are the precise, quantifiable outcomes that organizations seek to retain as they expand. Business objectives are created with an emphasis on specifics. Analyzing, evaluating, and comprehending where you are now and where you want to be in the future are required.Therefore, a company's advertisements in the local newspaper include a coupon designed to encourage customers to try the company's new product. This is an example of advertising based on (A) objectives.
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Complete question:
A company's advertisements in the local newspaper include a coupon designed to encourage customers to try the company's new product. This is an example of advertising based on
a. Objectives
b. Employees
c. Budgets
d. Bloggers
if the long-run average cost curve is rising beyond some point, then we know there is multiple choice increasing marginal returns in production. diminishing marginal returns in production. decreasing returns to scale in production. increasing returns to scale in production.
C) We may tell that there are decreasing returns to scale in production if the long-run average cost curve continues to rise after a certain point.
Describe the long-run average cost curve.LRATC is a business statistic that depicts the average cost per unit of output over the long term when all inputs are assumed to be variable and the production scale is flexible. The long-run average cost curve displays the long-run total cost that is the least expensive to produce a particular amount of output.
Because businesses have the freedom to change major parts of their operations, like factories, over a lengthy period of time, long-term unit costs are nearly always lower than short-term unit costs. Finding the LRATC's lower boundaries is an objective shared by investors and firm management.
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How much does the average Thanksgiving turkey weigh?
Toms are grown to an average live weight of 41 pounds, while hens average 17 pounds.
Approximately 57 percent of harvested turkeys that are federally inspected are toms (male), while roughly 43 percent are hens. Size is one of the primary variations. Toms grow to an average live weight of 41 pounds, whereas hens average 17 pounds. To put this into practical terms, a tom is a turkey that weighs 16 to 24 pounds, whereas a hen weighs 8 to 16 pounds.
Depending on the season, average live weights can change. Large turkeys that are suitable for processing are the producers' main priority from January to May. However, production switches to smaller, whole turkeys from June to November, which are ideal for holiday centerpieces.
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the bruin's den outdoor gear is considering a new 6-year project to produce a new tent line. the equipment necessary would cost $1.31 million and be depreciated using straight-line depreciation to a book value of zero. at the end of the project, the equipment can be sold for 10 percent of its initial cost. the company believes that it can sell 24,000 tents per year at a price of $65 and variable costs of $25 per tent. the fixed costs will be $405,000 per year. the project will require an initial investment in net working capital of $197,000 that will be recovered at the end of the project. the required rate of return is 10.8 percent and the tax rate is 21 percent. what is the npv? rev: 03 23 2022 qc cs-300679 multiple choice $730,978 $806,640 $660,178 $913,110 $716,110
The term "working capital investment" refers to the initial investment made to cover the project's initial operating costs (such as inventory of raw materials).
It is common practice to view this portion of the initial expenditure as a short-term investment.
How are initial investments in net working capital determined?
The amount required to launch a project or business is the initial investment. It's also known as initial outlay or initial investment outlay. It is equal to capital expenditures, working capital requirements, and proceeds from assets that have been sold or made available for use elsewhere after taxes.
Outlays for working capital, equipment, and buildings are included in the initial investment.
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normal balances of merchandise accounts what is the normal balance of the following accounts: a. cost of merchandise sold b. customer refunds payable c. delivery expense d. merchandise inventory e. sales f. sales tax payable
a, b, c, d, and f have debits as normal balances and g has credits as normal balances. This is because the account's normal balance is on the side of the account that is positive or increasing. The normal balances for asset and expense accounts are debits and for income, equity, and liability accounts are credits.
Accounts with debit balances typically include assets, expenses, and losses. Examples of these accounts are cash accounts, accounts receivable, prepaid expenses, fixed assets (Assets), wages (Expenses), and loss on sale of assets (Loss) accounts. The balance on your statement is the amount owed to you by your card issuer. Credits are added to your account with each payment. A credit will be added when you return an item purchased with a credit card.
In accounting, each account has a regular balance. Assets have normal debit balances, liabilities and equity have normal credit balances. Income has a normal credit balance and expenses have a normal debit balance.
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hr department at a company oversees the recruitment and training of employees at the firm. as the firm grows and recruits more employees, overseeing individual training programs has become too much for the hr staff to handle. which application should the hr department use to help with employee training
Select the best workers.Interview scheduling, coordinating hiring efforts, and on boarding new employees are all responsibilities of human resources.
Five main tasks are managed by Human Resources:training and development, compliance, employee benefits, compensation, talent management, and workplace safety.By effectively managing the employee lifecycle, an HR department can assist in providing organizational structure and the capacity to satisfy business requirements.
What role does HR play in training?
Organizing Activities for Ongoing Training There is a difference between giving employees ongoing training and giving them training.HR is in charge of ensuring that employees regularly receive training to improve their skills and output.
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when many different jobs or products are worked on each period, the most likely costing system used is .
a job order Each time numerous separate tasks or goods are produced, the costing method most frequently employment is.
A relationship between two parties that governs the delivery of compensated labor services is called employment. In most cases, based on a contract, the employer, which might be a company, a non-profit, a cooperative, or any other entity, pays the employee in exchange for doing the job that has been allocated to them. Workers are compensated for their labor through wages, which may be paid on the basis of an hourly rate, piecework, or annual pay, depending on the sort of work performed, the industries conditions in effect, and the bargaining power of the parties. Some industries allow for the distribution of stock options, bonuses, and gratuities to employees. Employees may earn benefits in addition to compensation in various occupations.
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flyer corp purchases land for $420,000 cash. the company assumes $4,500 in property taxes due on the land. the title and attorney fees totaled $3,000. the company had the land graded for $6,600. what amount does the company record as the cost for the land?
The company recorded $427500 as purchase cost for the land.
What is purchasing?A corporation or organization uses the purchasing process to buy products or services in order to achieve its objectives. Although many businesses make an effort to establish standards for the purchasing process, procedures can differ significantly between firms. The expediting, supplier quality, transportation, and logistics are often also included in the larger procurement process, which includes purchasing. The organization's acquisition criteria and procedures are directed by purchasing managers/directors and procurement managers/directors. A three-way check serves as the cornerstone of most organizations' purchasing strategies. As a result, three organizational departments complete various phases of the purchase process. For the purpose of discouraging unethical behavior and enhancing the process' credibility, the three departments do not all report to the same senior manager.
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which one of the following items would not be considered a manufacturing cost? a. tires for an automobile manufacturer. b. plant property taxes for an ice cream maker. c. sales commissions for a car manufacturer. d. cream for an ice cream maker.
Sales commissions for a car manufacturer would not be considered a manufacturing cost. ( Option C )
- More about manufacturing cost :
-Manufacturing costs are the costs incurred during the production of a good. Direct materials, direct labor, and manufacturing overhead are also included in these prices. In the revenue statement, the costs are frequently displayed as separate line items. These expenses are incurred by an organization when manufacturing something.
- In the manufacturing sector, the three main cost components are materials, labor, and overhead. There are no indirect costs. In other words, while the foreman's pay and supplies are covered, neither the office's nor the corporation's accountant's pay is.
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bill buyer and sam seller contract for and close on property on the edge of town. a week after closing bill gets a notice that a developer has announced plans to build a mall on the property behind bill's new house. bill files suit against sam for failing to disclose a material fact. what are bill's chances?
Bill's chances would depend on the contract between him and the seller. If the contract has a clause that the seller must disclose any material facts about the property, then Bill would likely win the lawsuit. If the contract does not have such a clause, then Bill's chances would be more uncertain.
What is contract?
A contract is an enforceable legal agreement that outlines and governs the parties' rights and obligations. The transfer of commodities, services, money, or a promise to transfer any of those at a later time are common components of contracts. The core principle of contract law, a division of the law of obligations that deals with contracts, is that agreements must be upheld.
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Which of the following is necessary in order to establish that a mutual mistake involving a basic assumption about the subject matter of a contract was made?
A) That the mistake involved the existence, quality, or quantity of the items to be exchanged.
B) That the mistake involved whether a party could profit from the contract.
C) That the mistake involved whether a party could profit from the contract or whether a party misunderstood the time constraints involved in the contract.
D) That the mistake involved the identity of parties to the contract or whether a party misunderstood the time constraints involved in the contract.
E) That the mistake involved a misunderstanding regarding the applicability of the Uniform Commercial Code to the contract.
That the mistake involved the existence, quality, or quantity of the items to be exchanged.
What is subject matter of a contract?The terms and circumstances that are covered by this binding contract are referred to as the subject matter of a contract. The phrases "subject to contract" or "without prejudice" are used to signify that contract negotiations between two parties are ongoing and the agreement is not final.The contract's subject matter must unquestionably be goods that exclusively contain movable property. They may be potential products as well as actual goods that you or the vendor own. Goods should be purchased for the agreed upon price. The goods must be transferred from the seller to the buyer.hence,That the mistake involved the existence, quality, or quantity of the items to be exchanged.
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a promotional tool that involves people telling other people about products they've purchased is known as a(n) . multiple choice question. sampling promotion event marketing promotion word-of-mouth promotion publicity stunt
A promotional tool that involves people telling other people about products they've purchased is known as a word- of- mouth promotion. The correct answer would be option C.
Word-of-mouth marketing occurs when a consumer expresses interest in a brand's goods or services in casual conversations. Essentially, it is free promotion brought on by consumer experiences, which are typically above and beyond their expectations.
Through various publicity initiatives put up by businesses or by providing possibilities to promote consumer-to-consumer and consumer-to-marketer communications, word-of-mouth marketing can be promoted. Buzz, viral, blog, emotive, and social media marketing are all examples of WOM marketing, which is also known as word-of-mouth advertising.
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if sail away cruises offers customers a free cruise ticket with each full priced cruise ticket purchased, this is an example of ________.
If sail away cruises offers customers a free cruise ticket with each full-priced cruise ticket purchased, this is an example of second−degree.
Incredible clients are Advocates. Incredible clients, when they clearly are becoming incredible price out of your product, turn out to be extra than just happy. They do greater than simply references. They come up with greater than simply high client pride marks.
Customers that store regularly however base buying decisions generally on markdowns. Want-primarily based customers: clients with the purpose of purchasing a selected product. Wandering clients: customers that aren't sure of what they want to buy.
There are 4 fundamental customer segmentation fashions that have to form the point of interest of any advertising and marketing plan. As an example, the four varieties of segmentation are Demographic, Psychographic Geographic, and Behavioral. These are not unusual examples of how organizations can phase their marketplace by means of gender, age, way of life, and so forth.
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State one financial objective for LEGO.
3 Marker
Answer: Building, un-building, rebuilding, thereby creating new things and developing new ways of thinking about ourselves, and the world.
Explanation: looked at Lego. com.
I hope it’s right, sorry if it’s not. Best of luck :)
consider a 7-year bond with a 9% coupon and a yield to maturity of 12%. if interest rates remain constant, 1 year from now the price of this bond will be
A 7-year bond with a 9% coupon and a yield to maturity of 12%. if interest rates remain constant, 1 year from now the price of this bond will be higher.
Why is the interest rate important? What is the interest rate?One of the most significant elements of the American economic system is interest rates. They affect borrowing costs, the rate of return on savings, and they play a significant role in the overall return on many assets. A few interest rates might also offer insight into upcoming financial market and economic activities.
How do interest rates work to our advantage?People will earn more money on their savings if interest rates increase. As a result, there is less demand for stocks because people are no longer need to invest in them and assume further risk.
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which of the following statements is not correct? question 20 options: monopolistic competition is different from monopoly because monopolistic competition is characterized by free entry, whereas monopoly is characterized by barriers to entry. both monopolistic competition and oligopoly fall in between the more extreme market structures of competition and monopoly. monopolistic competition is different from oligopoly because each seller in monopolistic competition is small relative to the market, whereas each seller can affect the actions of other sellers in an oligopoly. both monopolistic competition and perfect competition are characterized by product differentiation.
A statement that is not correct is that both monopolistic competition and perfect competition are characterized by product differentiation.
How are products differentiated in a perfect competition?In a perfect competition, everyone sells homogenous products. What this means is that all seller sell the same products and don't differentiate their goods or services which is why there is so much competition.
For monopolistic competition however, this is different. This is because in monopolistic competition, products are differentiated to a certain degree to give the seller some sort of advantage over other sellers in the market.
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on december 31, 2020, extreme fitness has adjusted balances of $960,000 in accounts receivable and $87,000 in allowance for doubtful accounts. on january 2, 2021, the company learns that certain customer accounts are not collectible, so management authorizes a write-off of these accounts totaling $26,000. required: a. what amount would the company report as its net accounts receivable on december 31, 2020? b.prepare the journal entry to write off the accounts on january 2, 2021. c-1. assuming no other transactions occurred between december 31, 2020, and january 3, 2021, what amount would the company report as its net accounts receivable on january 3, 2021? c-2. has net accounts receivable changed from december 31, 2020?
Accounts receivable (AR) are the stability of cash because of a company for items or offerings brought or used however now no longer but paid for with the aid of using clients.
The required details for Accounts receivable (AR) in given paragraph
Amount of debts receivables on 31 Dec 2020 = $870,000 - $69,000
= $801,000
Accounts receivable are indexed at the stability sheet as a contemporary asset. Any amount of cash owed with the aid of using clients for purchases made on credit score is AR. Accounts receivable consult with the outstanding invoices that a agency has or the cash that customers owe the agency. The word refers to debts that a commercial enterprise has the proper to obtain as it has brought a product or service. Accounts receivable, or receivables, constitute a line of credit score prolonged with the aid of using a agency and typically have phrases that require bills due inside a surprisingly quick period. It generally levels from some days to a economic or calendar year. Companies file debts receivable as property on their stability sheets due to the fact there may be a prison duty for the client to pay the debt.
They are taken into consideration a liquid asset, due to the fact they may be used as collateral to stable a mortgage to assist meet quick-time period obligations. Receivables are a part of a agency’s operating capital.
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