Temporary employees for avoiding a labor shortage gives speedy results and the ability to easily change to a different strategy at a later date.
What are the popular strategies for overcoming a labour shortage ?The two strategies that are most frequently used to address labour shortages are outsourcing and hiring temporary workers. Hiring temporary and contract workers as well as outsourcing work are two of the most popular strategies for overcoming a labour shortage.
The typical organisational response to a labour shortage has been to outsource or hire temporary workers, both of which are quick and highly revocable. Industrialists were unconcerned about the lack of workers or the high cost of living. As machines required significant capital investments, they preferred using human labor.
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which of the following may be the cause of an unfavorable staff time variance? a.staff inefficiency b.insufficient staff training c.overscheduling d.all of these choices are correct.
what will happen if you try to upload a feed in merchant center that does not have availability for each product
It will disapprove it if you try to upload a feed in merchant center that does not have availability for each product. Since availability is not an attribute in the product feed.
A merchant is a person who trades in commodities produced by different humans, in particular one that trades with foreign countries. traditionally, a service provider is every person who's involved in business or trade. merchants have operated for as long as industry, trade, and change have existed.
Merchant is a person who engages in purchase, sales, and trade of commodities for earnings. The merchant magnificence is the social sector made of traders.
Merchant Transaction way the purchase by means of a cardholder of goods or offerings from a merchant by means of use of a bank Card.
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red offers to pay sari to deliver certain documents within thirty minutes. sari can accept the offer only by completing the task within the deadline. if she does, red and sari will have a. a bilateral contract. b. a void contract. c. a unilateral contract. d. an executive contract.
Red promises to compensate Sari if she can provide specific documents in thirty minutes. Sari can accept the offer only if she completes the assignment by the deadline. Red and Sari will have a unilateral contract if she does. Thus, the right option is (c.) a unilateral contract.
What is a unilateral contract?In contrast to the more usual bilateral contract, a unilateral contract is a sort of agreement in which one party (also referred to as the offeror) makes an offer to another person, organization, or the general public.
A unilateral contract would look like this: "I will pay you $1,000 if you transport my automobile from Cleveland to San Francisco." Acceptance is demonstrated by bringing the automobile. Normally, the distinction is sole of academic relevance.
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what are two characteristics of the digital marketspace? multiple select question. electronic images and offerings ability to use all of one's senses face-to-screen exchange relationships material environment with physical facilities
Electronic images and offerings & face-to-screen exchange relationships are the two characteristics of digital marketspace.
The digital marketspace is a rapidly growing and evolving marketplace that offers businesses and consumers a vast array of goods and services. This marketplace is characterized by its ease of access and its global environment.
Consumers and businesses can connect with one another instantaneously and without barriers, making it a highly efficient and effective way to conduct business. Businesses can reach a larger audience more easily and can conduct transactions more quickly and efficiently.
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your research group conducted a bi-variate correlation analysis in spss using our auto concepts study and the results are attached to this question. based on this correlation analysis examining these lifestyles and the desirability for the 5 seat economy gasoline automobile, which lifestyle(s) possess a strong or very strong relationship to the desirability of this vehicle and therefore would be the best segment to market this vehicle? (hint: look for lifestyle(s) with a pearson correlation coefficient that range between .60 and 1.00!)
Correlation and Regression area unit the 2 variable distribution-based analyses. A variable distribution is termed multiple variables distribution.
Correlation is represented because the analysis permits the U.S.A. to understand the connection between 2 variables, 'x' and 'y' or the absence of it. On the opposite hand, the multivariate analysis predicts worth|the worth} of the variable supported by the familiar value of the experimental variable, presumptuous that there's a median relation between 2 or additional variables.
The term correlation may be a combination of 2 words, 'Co' (together), and the relation between 2 quantities. Correlation is once it's discovered that an amendment in an exceedingly unit in one variable is retaliated by the same amendment in another variable, i.e., direct or indirect, at the time of study of 2 variables.
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suppose a rallying stock market causes aggregate expenditures by consumers to increase by $200. if the mps is 0.2, what is the change in real gdp associated with this positive shock to the economy?
The current market value of all the finished goods and services in the economy is known as aggregate expenditure.
How do you calculate aggregate expenditure?The formula for total spending is AE = C + I + G + NX. The equation is written as follows: Total expenditure = sum of household consumption (C), investments (I), government spending (G), and net exports (NE).Consumption (C): The total annual household consumption.Investment (I): Capital expenditures that are budgeted.Federal, state, and municipal government spending is indicated by the letter "G," or "government expenditure." Infrastructure or transfers are examples of government spending that raise the total amount spent by the economy.Net exports (NX) are the sum of all exports minus all imports.Given:
The initial change in total spending was $200; the MPS was 0.20. Find the multiplier for expenses. Multiplier for expenses =1/MPS=1/(0.2)=5. Initial change in aggregate expenditures x expenditure multiplier ($200 x 5) equals $1000 in terms of the overall impact on real GDP.To Learn more About aggregate expenditure refer to :
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absolute liability to pay a negotiable instrument, subject to certain universal or real defenses is known as . group of answer choices secondary liability signature liability warranty liability primary liability
Primary liability, subject to certain universal (actual) defenses, is the whole obligation to pay a negotiable instrument.
A responsibility for which a party is alone accountable is referred to as primary liability. As opposed to primary liability, secondary liability refers to a duty that falls under the purview of another party in the event that the primary party is unable to fulfill it.
This coverage's primary objective is to safeguard you against the harm that may be caused to another driver's property or well-being on the road.
A person who has primary liability for a negotiable instrument is legally obligated to pay the instrument upon presentation, barring any legitimate defenses. The only parties liable in the first instance are manufacturers and acceptors.
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a retailer has annual sales of $475,000 and an average finished-goods inventory of $18,000. if the retailer sells each unit for an average of $27 and purchases the units for $12, what is its annual inventory turnover?
11.72 will be Its annual inventory turnover.
Inventory Turnover Ratio = (Cost of goods sold)/(Average Inventory)
Following values are given in the question,
Average finished-goods inventory = $18,000
Annual Sales = $475,000
Selling Price per unit = $27
Purchase price of goods per unit = $12
Number of goods sold = Annual Sales/ Selling Price per unit
Number of goods sold = 475000/27
Number of goods sold = 17592 unit
Cost of goods sold = Number of Goods sold*Purchase price of goods per unit
Cost of goods sold = 17592*12
Cost of goods sold = $211,104
Inventory Turnover ratio = (Cost of goods sold)/(Average Inventory)
Inventory Turnover ratio = 211104/18000
Inventory Turnover ratio = 11.72
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merchandise subject to terms 2/10, n/30, fob shipping point, is sold on account to a customer for $25,000. what is the amount of the sales discount allowable? a.$260 b.$150 c.$500 d.$460
The maximum sales discount permitted is $500 when merchandise subject to terms 2/10, n/30, and fob shipment point is sold to a client on account for $25,000.
What do you mean by sales?A sale is an arrangement in which a seller trades money for the sale of tangible or intangible goods, assets, or services between a buyer and a seller. In a sale, there are usually two or more parties involved. One can think of a sale or a contract between two or more parties, such as the buyer and seller.
Why are sales such a big deal?Sales have a big impact on how customers become loyal and how much trust they have in brands. Trust and loyalty are the main factors influencing a customer's choice.
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you purchase a treasury-bond futures contract with an initial margin requirement of 15% and a futures price of $115,250. the contract is traded on a $100,000 underlying par value bond. if the futures price falls to $108,200, what will be the percentage loss on your position? (input the value as positive value. do not round intermediate calculations. round your answer to 2 decimal places.)
The amount of loss on any commodity expressed as a percentage is referred to as the loss percentage. Additionally known as percentage loss.
What is percentage loss?When a loss is expressed or calculated as a percentage, it is referred to as an OSS percentage. The loss percentage formula is the ratio of the loss incurred to the cost price multiplied by 100 because the percentage loss is the percent of loss in terms of the actual cost price.Calculation of your position's percentage loss
Given that,
Initial margin requirement = 15%
Futures price = $115,250
Underlying par value bond = $100,000
If the futures price falls to $108,200
Margin = Initial margin requirement × Futures price
= 0.15 × 115,250 = 17,287.5 = 17288
Loss = Futures price - Decreased future prices
= $115,250 - $108,200
=$7050.
Total percentage of loss = (Loss ÷ Margin) × 100
= ($7050÷ $17288) × 100
= 40.7797.
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operations management is applicable: group of answer choices to all firms, whether manufacturing or service. mostly to the manufacturing sector. to services exclusively. to the manufacturing sector exclusively. mostly to the service sector.
Operations management is applicable to all firms, whether manufacturing and service.
What is management?Management refers to the management of an organization, such as a corporation, non-profit organization, or government agency.This is the art and science of managing company resources. Management includes the activities of setting an organization's strategy and coordinating people's efforts to achieve goals using available resources such as financial, natural, technological and human resources. His two concepts of "running a business" and "changing a business" are managed to distinguish between the continuous provision of goods and services and the adaptation of goods and services to the changing needs of customers. There are two concepts used. See trends. The term "administrators" can also refer to people who lead an organization, i.e. management.To learn more about management from the given link :
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a burger restaurant advertises that its new 1/2 pound cheeseburger is bigger and cheaper than its competitor's. it also touts that it is open 24 hours a day, while its competitor closes at 10pm. which principle of mcdonaldization does this exemplify?
The burger restaurant exemplifies the principle of the Calculability of McDonaldization.
The term "McDonaldization" was introduced by American sociologist George Ritzer to describe the late 20th-century trend of rationalizing consumption, work, and manufacturing. The main notion is that these components have been modified to reflect the efficiency, calculability, predictability and standardization, and control of a fast-food restaurant and that this modification has repercussions on every part of society.
McDonaldization gave rise to the idea that if a consumer receives a huge quantity of a high-quality product in a short period of time, it must also be high-quality. This makes it possible for people to compare how much they pay with how much they receive.
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which statement about the official nhc track and intensity forecasts is correct? a. errors in forecasting track and intensity are generally greater for forecast times farther in the future b. errors in forecasting hurricane intensity have improved faster than errors in forecasting tracks c. the track errors for the 24 hour forecast are about the same as the errors for the 120 hr forecast d. the intensity errors for the 24 hour forecast are about the same as the errors for the 120 hr forecast
The accurate statement is that predicted times further in the future tend to have bigger forecast track and intensity mistakes.
What is intensity and example?She felt uneasy as a result of his intense gaze into her eyes. This was too intense for a first date. The degree, quantity, or magnitude of something is its intensity. Examples include flame, emotions, weather, work, and passion. The word "intensity" is occasionally linked to fervor, fire, and violence.
What is intensity of an object?By multiplying the energy density at a given location in space by the speed of the energy as it moves, one can calculate intensity. The units of power are split by the resulting vector's size (i.e., surface power density).
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the ftc controls on product comparisons: group of answer choices are very stringent. are a high regulatory priority. have changed dramatically with private enforcement. no longer exist.
The FTC controls on product comparisons are a high regulatory priority. The FTC is responsible for enforcing federal consumer protection laws that prohibit fraud, dishonesty, and unfair business practises.
In addition, the Commission enforces federal antitrust rules that ban anticompetitive acquisitions and other commercial practises that may result in higher prices, fewer choices, or less innovation. As a consumer or business owner, you may be more familiar with the federal consumer Trade Commission's activities than you realise. The FTC works with issues that affect every American's economic life. We accomplish this in part by enforcing antitrust laws. The fuel that propels America's free-market system is competition.
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Why is it critical that a market basket accurately represents average consumer purchases?
The reason it is critical for a market basket to accurately represent the correct customer purchases on average is so that inflation can accurately be calculated.
How is inflation calculated?Inflation refers to the general rise in prices in an economy. This therefore measures the fall in the value of currency and is important when making economic decisions by the government.
As a result, the inflation rate needs to be as accurate as possible. Inflation is calculated by checking the change in price in a market basket of goods purchased by consumers. As a result, it needs to be as accurate as possible to correctly capture the inflation.
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short- and long-run equilibrium ii. if the economy is in short-run macroeconomic equilibrium at e1, it is in a(n):
Short- and long-run equilibrium ii. if the economy is in short-run macroeconomic equilibrium at e1, it is in an inflationary gap.
A macroeconomic concept known as the inflationary gap quantifies the discrepancy between the real gross domestic product (GDP) at the current level and the GDP that would exist if the economy were experiencing full employment.
When demand for goods and services outpaces supply due to elements like higher levels of overall employment, increasing trade activity, or higher government spending, there is an inflationary gap.
In light of this, there may be an inflationary gap if the real GDP exceeds the potential GDP. The inflationary gap is so named because an economy's increased consumption as a result of the relative gain in real GDP eventually drives up prices.
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9) which of the following would cause prices to fall and output to rise in the short run? a) a temporary decline in the price of oil, that temporarily increases total factor productivity. b) a hurricane in the gulf of mexico that temporarily reduces productivity. c) household wealth increases. d) a recession in europe that causes a decline in net exports.
Option a.) a temporary decline in the price of oil is the correct answer, resulting in a temporary increase in total factor productivity. This is because a short-term shift in aggregate supply to the right will cause prices to fall and aggregate supply to increase in the short term. The curve rises because there is a direct relationship between total supply and rising price levels.
This is also known as right shift of total supply. Aggregate demand refers to the aggregate demand made by individuals in the economy for goods and services produced in the economy. In Keynesian economics, the intersection of aggregate demand and aggregate supply determines real GDP.
As the aggregate supply curve shifts to the right, producers supply more real GDP at each price level. As the AS curve shifts to the left, producers supply less amount of real GDP at each price level.
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What was the name of the series of letters written to convince the states that ratifying the constitution was the right decision?.
The series of letters were known as the Federalist Papers. The Federalist Papers were a series of essays written by Alexander Hamilton, James Madison, and John Jay to persuade the states to ratify the constitution. The essays were published in New York City newspapers from October 1787 to May 1788.
The Federalist Papers were a series of letters written to convince the states that ratifying the constitution was the right decision. The papers were written by Alexander Hamilton, James Madison, and John Jay, and they argued that the constitution would protect the rights of the people and provide for a strong central government. The papers were published in 1787 and 1788, and they played a significant role in convincing the states to ratify the constitution.
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on january 1, a company issues bonds dated january 1 with a par value of $370,000. the bonds mature in 5 years. the contract rate is 11%, and interest is paid semiannually on june 30 and december 31. the market rate is 10% and the bonds are sold for $384,280. the journal entry to record the first interest payment using straight-line amortization is: (rounded to the nearest dollar.)
The journal entry is shown below:
Cash Dr $370,000
Discount on bond payable Dr $14,280
To Bond payable $384,280
(Being the issuance of the bond is recorded)
What is journal entries?
A journal entry is the act of recording any transaction, whether one that is economic or not. An accounting diary that displays the debit and credit balances of a corporation lists transactions. Multiple recordings, each of which is either a debit or a credit, may be included in the journal entry.
A journal entry is a record of a business's financial transactions kept in its accounting books. An accurate date, the sums to be debited and credited, a description of the transaction, and a special reference number are all components of a properly documented journal entry.
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in a contractual vertical marketing system, the channel captain often has influence over other channel members due to multiple choice longevity in the industry. social interactions with the community at large. economic power. geographic proximity to the manufacturing plant. a legitimate right to direct them.
In a contractual vertical marketing system, the channel captain often has influence over other channel members due to a legitimate right to direct them.
What is contractual vertical marketing system?A type of vertical marketing system in which unaffiliated businesses at various levels of distribution are linked by contract in order to create economies of scale and increase the impact of sales.Working with a franchise is an instance of a contractual vertical marketing structure. A license must be bought in order to open a franchise location. However, the owner is required to adhere to all the requirements, norms, and procedures of a franchiser.Corporate, contractual, and administrative are the three types of vertical marketing systems.A retailer cooperative, in which a number of merchants purchase from a wholesaler they both own, is one sort of contractual VMS. Franchise organizations, in which a manufacturer grants a distributor a license to distribute its goods, are another sort of contractual VMS.To learn more about contractual vertical marketing system refer to:
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If the government levies a $5 tax per ticket on buyers of nfl game tickets, then the price paid by buyers of nfl game tickets would?.
The price paid by buyers of NFL games will increase by less than $5
A tax is a mandatory charge imposed on products and services by the government or a government agency. Taxes drive up a product's cost and both the buyer and the seller are required to pay the taxes as it is a compulsion imposed by the govt. The price of the ticket would rise by less than $5 if a $5 tax were imposed on them. Both buyers and sellers would be responsible for the $5 tax. The burden of the tax would fall mostly on the party with the less elastic demand and supply.
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peking palace company reported the following: standard quantity per unit 3 lbs. standard price per pound $2.75 actual pounds used 15,000 lbs. actual price per pound $2.90 number of units produced 5,070 what is the direct materials quantity variance? a.$609.00 unfavorable b.$577.50 unfavorable c.$(577.50) favorable d.$(609.00) favorable
Option c. $577.50 favourable is the correct answer. The direct material quantity variance is $577.50 favourable
Standard quantity per unit 3 lbs
Standard price per pound = $2.75
Actual pounds used = 15,000 lbs
Actual price per pound = $2.90
Number of units produced = 5,070
Now,
The direct materials quantity variance is given as;
= | ( Actual quantity - Standard quantity ) | × Standard price
= ( 15,000 lbs - {Standard quantity per unit × units produced}) × $2.75
= ( 15,000 lbs - { 3 × 5,070}) × $2.75
= | ( 15,000 lbs - 15,210 ) | × $2.75
= $577.5
Since,
The standard quantity is higher than the actual quantity
thus,
$577.5 favourable
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nash company estimates it bad debt expense to be 7% of gross accounts receivable. determine its bad debt expense
nash company estimates it bad debt expense to be 7% of gross accounts receivable. It's bad debt expense is $362200.
Debt is an responsibility that calls for one birthday party, the debtor, to pay cash or different agreed-upon cost to every other celebration, the creditor. Debt is a deferred charge, or collection of payments, which differentiates it from an immediate purchase. The debt can be owed by way of sovereign kingdom or us of a, nearby government, employer, or an man or woman. industrial debt is typically challenge to contractual phrases concerning the amount and timing of payments of foremost and interest.[1] Loans, bonds, notes, and mortgages are all varieties of debt. In economic accounting, debt is a sort of financial transaction, as distinct from equity.
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which of the following is a difference between monopoly and monopolistic competition? profits maximized where marginal cost equals marginal revenue. downward sloping demand curve. marginal revenue below price. zero long run economic profit.
Profits maximized where marginal cost equals marginal revenue is a difference between monopoly and monopolistic competition. Comparing the anticipated or predicted costs and benefits (or opportunities) connected with a project choice.
In monopoly order to assess whether it makes sense from a business standpoint is known as a cost-benefit analysis. For instance: The cost to build a new product will be $100,000, and sales of $100,000 per unit are anticipated (unit price = 2). Therefore, 200,000 advantages are sold. The straightforward CBA calculation for this project is 200,000 in financial benefit minus 100,000 in cost, which results in a net benefit of 100,000.
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the dwindling supplies of rare metals such as indium, tantalum, and platinum may be extended if we rigorously . group of answer choices relax environmental requirements for mining recycle existing supplies reduce demands for social and economic justice increase demand for the products in which they are used exploit known deposits more efficiently
The dwindling supplies of rare metals such as indium, tantalum, and platinum may be extended if we rigorously recycle existing supplies.
Recycling is the process of converting waste into fresh resources and goods. The healing of power from waste substances is often included in this idea. The recyclability of a fabric depends on its ability to reacquire the homes it had in its original country. it is an alternative to "conventional" waste disposal that may shop fabric and help decrease greenhouse fuel emissions. it is able to additionally prevent the waste of potentially beneficial substances and reduce the intake of clean uncooked substances, reducing power use, air pollutants (from incineration), and water pollution (from landfilling).
Recycling is a key factor of modern waste reduction and is the 1/3 element of the "lessen, Reuse, and Recycle" waste hierarchy. It promotes environmental sustainability by putting off uncooked cloth entries and redirecting waste output in the monetary gadget. There are a few ISO standards related to recycling, consisting of ISO 15270:2008 for plastics waste and ISO 14001:2015 for environmental control manipulation of recycling practice.
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local petroleum distributors (lpd) sells gas and diesel fuel to 72 independent gas stations and convenience stores. receiving accurate data on the fuel needs of its customers is a critical operational concern. lpd installed sensors in the fuel storage tanks owned by each customer. at 11 pm each evening, the sensors send fuel data electronically to lpd. lpd receives the data, and a computer enters each record. the data are analyzed, and the analysis determines which retailers require a fuel shipment in the next three days. the electronic system has increased operational efficiency as shipments can be better coordinated, and retailers are no longer required to measure the fuel level and report manually. lpd's use of a computer to enter the data reported by the sensors is an example of
Ltd's use of a computer to enter the data reported by the sensors is an example of Robotic process automation
A sensor is a tool that produces an output sign for the motive of sensing a bodily phenomenon. In the broadest definition, a sensor is a device, module, gadget, or subsystem that detects occasions or changes in its environment and sends the data to different electronics, regularly a laptop processor. Sensors are constantly used with other electronics. Sensors are utilized in regular objects along with contact-sensitive elevator buttons (tactile sensors) and lamps that dim or brighten with the aid of touching the bottom, and in innumerable packages of which the majority are never conscious. With advances in micromachinery and smooth-to-use microcontroller platforms, the uses of sensors have extended past the traditional fields of temperature, pressure, and float measurement,[1] as an example into MARG sensors.
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franco is considered to be tech-savvy by his friends. he is unafraid to take risks when it comes to trying new products and is always the first in his group to get the latest gizmo. what type of product adopter is franco?
Franco is considered to be tech savvy. He is unafraid to take risks when it comes to trying new products and is always the first in his group to get the latest gizmo. Franco is a innovator type of product adopter.
To be tech savvy is to be comfortable and familiar with using technology. This can mean different things for different people, but generally it means being able to use tech products for tasks such as communication, research, problem solving, and entertainment.
For some people, being tech savvy also means having some level of understanding of how technology works and being able to take risk when issues may arise.
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in companies that do not use a self-imposed budgeting process, profit targets are generally set by blank . multiple choice question. lower-level managers the board of directors employees top managers
Top managers typically set profit targets in organizations without a self-imposed budgeting mechanism.
What is Self-imposed budgeting:
a budgeting technique where managers create their own budgets. The manager's superior then reviews these budgets; any disagreements are then settled amicably.
A budget is a comprehensive quantitative plan for gathering and using funds and other resources over a predetermined period of time.Budgeting is the process of creating a plan of action.Budgetary control refers to using budgets to manage an organization's operations.Budget projections made by line managers are frequently more accurate than projections made by top managers. When people help define their own goals rather than having them imposed on them, motivation is typically higher. Resentment may develop if a budget is imposed by upper levels of management with minimal support from personnel and managers at lower levels. This may occur, in example, when a management receives criticism or punishment for a budget issue that they were not involved in creating.
A self-imposed restriction is a boundary that the individual sets for themselves as a kind of self-defense. These kinds of restrictions are merely what we decide to consider the limit rather than actual breaking points. When faced with a crisis, people frequently learn that they are far stronger and more resilient than they had thought.
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g the canning company has been hard hit by increased competition. analysts predict that earnings (and dividends) will decline at a rate of 5% annually into the foreseeable future. if canning's last dividend (d0) was $2.00, and investors' required rate of return is 15%, what will be canning's stock price in 3 years?
The dividend growth model is the one that predicts the price of a stock that pays a perpetual dividend and grows at a constant rate. It is calculated by dividing the expected dividend by the total return less the growth rate.
P3: Current price*(1+Growth rate)3 =8.63636364*(1-0.05)3 =$7.41 (approximate) =D1/(Required return-Growth rate) =(2*(1-0.05)/(0.17-(0.05) =1.9/0.22
What is the model for dividend growth?A mathematical formula called the dividend growth model can be used by investors to figure out what a company's stock is worth based on its current dividend and how much it expects to grow in the future.
The Gordon growth model uses the assumption that a company's payments to its common equity shareholders will always increase to determine a company's stock price.The required rate of return (RoR), dividends per share (DPS), and dividend growth rate are the three primary inputs to the model.
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48. which of the following is the best argument for sharia for his position that he is entitled to the five extra $100.00 payments he is claiming? a. the objective standard of contract interpretation. b. the reasonable expectations of the parties. c. modification of the contract due to subsequent conduct. d. the parol evidence rule.
The modification of the contract due to subsequent conduct is the best argument for sharia for his position that he is entitled to the five extra $100.00 payments he is claiming
A contract modification is any change, in part or whole, to a legally binding agreement between two or more parties. Any contract can be amended before or after the agreement is signed, but all parties must agree to the changes. The changes are null and void if any party does not agree to them.
Contract modifications are classified as unilateral or bilateral.
Unilateral modifications are usually used to make administrative changes, issue change orders, make changes authorized by clauses other than the Changes clause, and issue termination notices.
Both the contracting officer and the contractor sign bilateral modifications (supplemental agreements). Bilateral changes can add new work or revise existing terms, and they almost always have cost implications, either upward or downward.
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