Answers
how to assess the quality of your resources
how resources bring with them potential access to others
how you can improve resource quality
how to upgrade the quality of an entire strategic architecture
6.1 Assessing the Quality of Resources
Few resources are as uniform as cash: Every dollar bill is the same as all the others. Most resources, however, vary in important ways:
Customers may be larger or smaller, highly profitable or less so.
Products may appeal to many customers or few, and satisfy some, many, or all of their needs.
Staff may have more experience or less, and cost you high salaries or low.
A single resource may even carry several characteristics that influence how the resource stock as a whole affects other parts of the system. Individual bank customers, for example, feature different balances in their accounts, different numbers of products they use from the bank, different levels of risk of defaulting on loans, and so on. A resource attribute is a characteristic that varies between different items in a single pool of resources. These differences within each type of resource will themselves change through time. For example, if we lose our most profitable customers our operating profits will fall faster than if we lose only average customers.
Related Questions
You have a Saturday job that pays $10 per hour and you work 10 hours when
you're there. You are thinking about buying a car that cost $1,000 dollars. How
many Saturdays do you have to work to earn the money?
OA. I will have to work 5 Saturdays to get the money
OB. I will have to work 10 Saturdays to get the money.
Answers
Answer:
B: 10 Saturdays
Explanation:
ok so 10×10=100 so $100 each Saturday now 100×10=1000 so it's B
Ocean Company estimated that April sales would be 150,000 units with an average selling price of $6.00. Actual sales for April were 149,000 units, and average selling price was $6.12. The sales revenue flexible budget variance was: A. $6,120 favorable. B. $17,880 favorable. C. $6,000 unfavorable. D. $17,880 unfavorable.
Answers
Answer:
B. $17,880 favorable.
Explanation:
Sales revenue flexible budget variance = (149,000 units × $6.12 per unit) − (149,000 units × $6.00 per unit)
Sales revenue flexible budget variance = $911,880 − $894,000 = $17,880 favorable
Since actual sales were greater than the flexible budget amount, the variance is favorable.
7.
8.
9.
10.
11.
12.
13.
16.
O
18.
O
19.
O
14. O
15.
O
O
O
O
17. O
O
C
O
Scenario 2.3.
Jessica continues to work on the marketing strategy for Tres Tortillas. Tres Tortillas was successful in selling 16 ounce jars of salsa in its restaurant. In fact, demand
for the jars of salsa is so high that Jessica believes Tres Tortillas should try to expand and start selling in stores. She believes Tres Tortillas salsa has the potential for
enormous growth, perhaps even more so than the actual restaurant.
Refer to Scenario 2.3. Jessica's manager is skeptical. Such an investment would require a manufacturing facility, a larger marketing budget, and salespeople who
would be able to get the salsa onto store shelves. However, Jessica maintains that Tres Tortilla's secret salsa recipe is a core competency. The market for salsa is also
strong. She believes this provides Tres Tortillas with a chance to match its core competency to market opportunities, otherwise known as a(n)
O a. optimal fit.
O b. competitive advantage
O c. strategic window
O d. first-mover advantage
O e. late-mover advantage
Check My Work (2 remaining)
F
Answers
Based on the business concept, the available options, and the context of the scenario, this situation is often referred to as competitive advantage.
What is competitive advantage?Competitive Advantage is a business term that is used to describe the factors that allow a company to produce goods or services better or more cheaply than its rivals.
Generally, the term competitive advantage comprises factors that allow the productive entity to generate more sales or superior margins compared to its market rivals.
In this case, given that it was confirmed that the Tres Tortilla's secret salsa recipe is a core competency and that the market for salsa is also
strong which provides Tres Tortillas with a chance to match its core competency to market opportunities, this is an example of a Competitive Advantage.
Hence, in this case, it is concluded that the correct answer is option B. Competitive Advantage.
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How do firms maximize profits? Fill in the blanks to complete the passage regarding sunk costs for a manufacturer of ethanol.
Ethanol, a biofuel derived from corn, is used in the production of both gasoline and pharmaceutical-grade hand sanitizer. During the pandemic, as the demand for gasoline plummeted, several producers of ethanol retrofitted their plants by purchasing new capital in order to produce a higher-quality ethanol, which could be used to make a medical-grade hand sanitizer. Future decisions about whether to produce ethanol for gasoline or for hand sanitizer – be informed by the – costs they incurred to retrofit their plant.
Answers
Future decision about whether to produce ethanol for gasoline or for hard sanitizer would not be informed by the sunk costs they incurred to retrofit their plant.
This question requires that we fill in the blank at the end of the question. The sunk cost can be referred to as a cost that has already been incurred. This money cannot be recovered again.
Profit maximization is a situation where by firms would try to lower their input costs and go for the highest output that would give them the optimal level of profit.
The decisions on production would not be determined by sunk cost, instead it would be determined by the benefits that the firm would accrue.
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During a job interview, Pam Thompson is offered a salary of 49,000. The company gives annual raises if 6 percent. What will be Pam"s salary during her 5th year on the Job?
Answers
Which of the following is NOT an example of a liability?
O Cash
O Equipment loans
O Charge accounts
O Rental fees
Answers
According to the given information Cash is NOT an example of a liability.
The correct option is A.
What liabilities mean?Payables, wages, and taxes are examples of current liabilities, which are sums owed for ongoing costs. Current obligations will include payments on long-term debt due in the following year. A company records the following in a liability account, which is a general ledger account as a result of commercial transactions.
Why liability is credited?Liability accounts are parts of the company's books that display its debt. When a liability account is debited, the quantity owed by the company is reduced (i.e., the liability increases), and when a liability bank is credited, the amount owed by the company develops (i.e. increases the liability).
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The complete question is -
Which of the following is NOT an example of a liability?
A- Cash
B- Equipment loans
C- Charge accounts
D- Rental fees
Last year sales of XYZ company are Rs. 900,000 and 80% sales are on credit. Gross profit margin is 25% on sales. The closing stock value is Rs. 90,000. What must be the inventory turnover ratio and age of inventory of the firm?
Answers
The inventory turnover ratio of the firm is 7.5 times, and the age of inventory is 48.67 days.
What is turnover?
In business and finance, turnover refers to the total amount of revenue generated by a company through its operations over a specific period of time, typically a year. It can also refer to the rate at which a company's inventory is sold and replaced over a given period of time, usually a year. Turnover can be measured in terms of sales revenue, number of units sold, or number of transactions processed.
In accounting, turnover can also refer to the number of times a particular asset, such as inventory or accounts receivable, is replaced or converted into cash over a specific period of time. This is commonly referred to as the inventory turnover ratio or accounts receivable turnover ratio, respectively.
In general, turnover is an important metric used to evaluate a company's financial performance and efficiency, as it indicates how effectively a company is able to generate revenue from its operations and manage its assets.
To calculate the inventory turnover ratio and age of inventory of the firm, we need to use the following formulas:
Inventory turnover ratio = Cost of goods sold / Average inventory
Age of inventory = 365 days / Inventory turnover ratio
To calculate the cost of goods sold, we first need to calculate the total sales and the gross profit.
Total sales = Rs. 900,000
Credit sales = 80% of total sales = 0.8 x Rs. 900,000 = Rs. 720,000
Cash sales = Total sales - Credit sales = Rs. 900,000 - Rs. 720,000 = Rs. 180,000
Gross profit = Gross profit margin x Total sales = 0.25 x Rs. 900,000 = Rs. 225,000
Cost of goods sold = Total sales - Gross profit = Rs. 900,000 - Rs. 225,000 = Rs. 675,000
To calculate the average inventory, we need to add the opening and closing stock values and divide by 2.
Closing stock value = Rs. 90,000
Assuming that the opening stock value is the same as the closing stock value, the average inventory is (Rs. 90,000 + Rs. 90,000) / 2 = Rs. 90,000
Now we can calculate the inventory turnover ratio and the age of inventory:
Inventory turnover ratio = Cost of goods sold / Average inventory = Rs. 675,000 / Rs. 90,000 = 7.5 times
Age of inventory = 365 days / Inventory turnover ratio = 365 days / 7.5 times = 48.67 days
Therefore, the inventory turnover ratio of the firm is 7.5 times, and the age of inventory is 48.67 days. This means that the company sells its entire inventory 7.5 times in a year, and it takes around 48.67 days to sell its inventory.
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You are a producer of a specific product, which you deliver in various packaging sizes and
different trade units. What are the consequences for the identification of the product, e.g., to
determine your sales quantities?
Answers
The consequences of identification of a product are:
LoyaltyPromotion of the firm.Recruitment of new customers, etc.What is identification of product?Product identification is known to be a term that connote the act of labeling that consist of functions such as product tracing, brand protection, and others.
A good product identification is one that allows better supply chain efficiencies that is, it means the right product is one that gets to the right consumer at the right timeframe.
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Which of the following financial institutions is a not-for-profit organization?
Commercial Bank
Commercial Bank
Credit Union
Credit Union
Savings and Loan
Savings and Loan
All of the these are correct since financial institutions do not make profits
Answers
Answer:
Credit Union
Explanation:
A not for profit organization means the organization whose main goal is not to make the profit. Here the main goal is to provide the services for a particular services or to give the benefit to the people.
Like the financial services give to the members of the credit union
Therefore as per the given options, the second option is correct
Credit Union is a financial institution that is not for profit organization.
Credit union functions to serve the members by offering the products at affordable rates and fees. The credit union changes the interest fees into products it offers in this way the credit union is not for profit organization. Other financial institutions like commercial bank, savings and loan, banks give these profits to its shareholders.Learn more about bank:
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Paul’s grocery received 1,000 pounds of onion at $0.11 per pound. On the average, 3% of the onions will spoil before selling. Find the selling price per pound to obtain a makeup rate of 180% based on cost.
Answers
The selling price per pound for onions to obtain a makeup rate of 180% based on cost is $2.0350.
What is the selling price per pound for onions?Total Cost = Quantity * Cost per pound
Total Cost = 1,000 pounds * $0.11/pound
Total Cost = $110
Spoilage Quantity = 3% of Quantity
Spoilage Quantity = 3% of 1,000 pounds
Spoilage Quantity = 0.03 * 1,000 pounds
Spoilage Quantity = 30 pounds
Effective Quantity = Quantity - Spoilage Quantity
Effective Quantity = 1,000 pounds - 30 pounds
Effective Quantity = 970 pounds
Makeup Rate = 180%
Selling Price per pound:
= (Total Cost * Makeup Rate) / Effective Quantity
= ($110 * 1.80) / 970 pounds
= $2.03505/pound.
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why do you think p2p apps have become so popular?
Answers
P2P payment apps are popular in the U.S. because they make the exchange of money easy. Nearly half (46%) of smartphone owners say they regularly use peer-to-peer payment apps. These apps offer convenience and flexibility when it comes to making payments.
A claim against a customer is known as
Answers
Answer:
A claim against a customer is known as an account receivable.
Jawwal Research & Development has been going through a rough patch lately. Turnover has been high and employee morale is at an all-time low. Though employees and competitors hold management responsible for the decline, the CEO does not let the managers go or change the management style. Which of the following could explain this attitude?
Select one:
a. The CEO is unresponsive to the criticisms from stakeholders.
b. The CEO holds the omnipotent view of management, which asserts that external factors have a significant effect on performance outcomes.
c. Because the organization has a "take-charge" management style, the employees are responsible for organizational policies.
d. The CEO holds the view that managers have only a limited role in organization success or failure.
Answers
Answer:
d. The CEO holds the view that managers have only a limited role in organization success or failure.
Explanation:
The CEO of Jawwal Research & Development subscribes to the symbolic view of management. Under the symbolic view, the organization's success or failure is caused by external forces beyond the managers' control. The symbolic view is that the whole of the organization is not in the managers' control.
The CEO of Jawwal Research & development believes that the manager's influence is limited by external factors such as technology, government policies, the economy, competitors, and industry conditions. The symbolic view contrasts with the Omnipotent view, which believes that managers are directly responsible for an organization's failure or success.
how do you pay taxes and is it hard ( just curious)
Answers
True or false: Explain why the following statements are true or false: (LO1, L04)
a. The economic maxim "There's no cash on the table" means that there are
never any unexploited economic oppo unities.
b. Firms in competitive environments make no accounting profit when the
market is in long-run equilibrium.
c. Firms that can introduce cost-saving innovations can make an economic
profit in the short run.
Answers
a) It is False. The correct maxim is that there are no unexploited economic opportunities when the market is in long-run equilibrium.
b) It is FALSE. Firms in long-run equilibrium have to make an accounting profit in order to cover the opportunity cost of resources supplied by their owners.
c) This is TRUE. Firms that can develop cost-cutting technologies can generate short-term economic profit. These companies can make money until other companies implement their inventions. The industry supply curve will move downward as the innovations proliferate, causing the market price of the item to decline and undermining the short-term economic profit.
What is opportunity cost?The opportunity cost of a certain activity in microeconomic theory is the value or gain given up by engaging in that activity in comparison to engaging in an alternative activity.
Simply put, if you choose one activity, you forfeit the potential to choose another.
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Identify suitable digital technology solutions for the business that could assist the team to work more collaboratively.
Answers
Answer:kakoot
Explanation: it makes people be competitive which is good
Questions for Critical Thinking
1. Do you think Quirky’s basic business model is sound and fair? If you could suggest any changes, what would they be?
2. To what degree does Quirky’s business reflect the attributes of a sound business idea as described in Chapter 2?
3. In what other product areas would Quirky’s business model work the best?
4. Think of the challenges in your own life that might represent a product idea for Quirky. If you don’t think of something right away, don’t give up. All of us encounter problems and challenges in our everyday lives that might represent the basis of a promising idea. Be prepared to describe to others one of the challenges or problems you encounter and how a solution to the problem could be fashioned into a product idea to submit to Quirky.
Answers
Critical thinking questions1. Do you think Quirky’s basic business model is sound and fair? If you could suggest any changes, what would they be? Quirky’s basic business model is sound and fair because they involve the public in developing products by taking ideas from people and turning them into products, splitting the profits from the product sales with the inventor, and also collaborating with the inventor from the start of the idea to its final product.
However, there are a few changes I would suggest. First, the public could have more control over which product idea is to be developed into a product. Second, the company could offer more compensation to the inventor, especially if the product becomes a commercial success.2.
To what degree does Quirky’s business reflect the attributes of a sound business idea as described in Chapter 2?Quirky’s business idea reflects the attributes of a sound business as described in Chapter 2 of the text, including the following attributes:
Quirky is innovative in its business model, as it involves the public in developing products.Quirky has a good system of assessing the market’s demand for each product idea.
Quirky has a flexible business model, as it is able to adapt to changes in the market.3. In what other product areas would Quirky’s business model work the best?
Quirky’s business model could work well in a number of other product areas, including Home improvement and do-it-yourself (DIY) products;
Fashion and clothing; Outdoor gear and accessories; Personal care and hygiene; Consumer electronics.4. Think of the challenges in your own life that might represent a product idea for Quirky. If you don’t think of something right away, don’t give up.
All of us encounter problems and challenges in our everyday lives that might represent the basis of a promising idea. Be prepared to describe to others one of the challenges or problems you encounter and how a solution to the problem could be fashioned into a product idea to submit to Quirky.
One of the challenges I have encountered is the issue of losing small items such as keys, earrings, and others. A solution to this challenge could be fashioned into a product idea by developing a small, inexpensive device that could be attached to small items.
The device would emit a signal that would be detected by an app on the user’s phone if the item were lost. This could be developed into a product idea and submitted to Quirky for further development.
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SWOT analysis The Boston Beer Company, Inc. manufactures Sam Adams beer and other alcoholic beverages such as hard dider, malt beverages, and hard seltzer. The company also owns a number of sub-brands, including The Traveler Brewing Company and the Coney Island Brewing Company. A SWOT analysis for the Boston Beer Company found the following: Strengths. Strong brand - Sam Adams is a well-known and well-respected brand among craft beers. Strong cash position - The Boston Beer Company, Inc. has a good deal of cash, which will allow it to expand into new areas. Strong distribution network - The distribution network for the Boston Beer Company, Inc. is widespread, and it can reach the vast majority of potential markets. • Weaknesses. Financial planning - The company could use its cash more efficiently than it is doing now. Weak technology - The company needs to adopt new technology that will help it expand into different locations and products more effectively. Reputation as a craft beer -- As the company has grown and started manufacturing products like hard cider, fewer and fewer people see it as a craft beer manufacturer. In fact, some people think that Sam Adams is produced by a mass market beer company like Budweiser. Opportunities. Purchase opportunities - Existing cash reserves and the increase in new craft beer and specialty alcoholic beverage companies provide acquisition opportunities for The Boston Beer Company. Changing consumer behavior - Younger drinkers are becoming more interested in low-alcohol beverages like hard cider and hard seltzer. Also, COVID-19 pandemic has increased consumption of alcoholic beverages. Declining interest rates – Allow the Boston Beer Company to borrow money at a lower cost than previously • Threats. Intense competition - The Boston Beer Company faces competition from both large and craft brewers, and there are more and more breweries in the U.S. every day. Hops shortages -- The U.S. hops market fluctuates regularly. Some years are up, while others are down. At some point in the near future, it will be harder and more expensive to get hops, a key ingredient in beer. Lawsuits The Boston Beer Company has been sued in the past by people criticizing their use of specialized names for products that critics considered to be mistabeled Given the SWOT analysis above, which of the following strategies makes the most sense for the Boston Beer Company Purchase a soft drink manufacturer that produces a sugar free, fruit-flavored soft drink. Purchase a manufacturer of spiked lemonade with a growing customer base. Aggressively advertise Sam Adams original beer to compete against mass market beer manufacturers. Invest money in upgrading the distribution system for the Boston Beer Company. Given the swot analysis above, which of the following strategies makes the most sense for the Boston Beer Company? O Purchase a soft drink manufacturer that produces a sugar-free, fruit-flavored soft drink. Purchase a manufacturer of spiked lemonade with a growing customer base. Aggressively advertise Sam Adams original beer to compete against mass market beer manufacturers. Invest money in uporading the distribution system for the Boston Beer Company One analyst told the Boston Beer Company that new tax policies which would reduce the company's taxes was a strength. This is incorrect. The new because the policies are to the company tax polides are Aggre an opportunity am Adams original beer to compete against mass market beer manufacturers. ing the distribution system for the Boston Beer Company, Ο Invest a threat a weakness One analyst told tax policies are company that new tax policies which would reduce the company's taxes was a strength. This is incorrect. The new because the policies are to the company. O Aggressively advertise Sam Adams original beer to compete against mass market beer manufacturers Invest money in upgrading the distribution system for external Beer Company internal One analyst told the Boston Beer Company that new tax polides tax solide because the bodies are reduce the company's taxes was strength. This incorrect. The new to the company
Answers
The Boston Beer Company should spend money on improving its distribution system, according to the SWOT analysis that has been supplied.
This is because the firm already has a solid reputation and a healthy cash flow, and buying a company that makes soft drinks or spiked lemonade might not be in line with its main competency of making alcoholic beverages. Sam Adams Original Beer is already well recognised among craft beer aficionados, therefore aggressive advertising of the brand may not be the best course of action.
Instead, it may be better to increase distribution in order to reach more people. The corporation must also address its shortcomings in financial planning and technology adoption, but by permitting it, investing in distribution can also indirectly address these problems.
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Assume a monopolist faces the demand schedule given below and a constant marginal cost of $2 for each unit of output.
Fill in the total and marginal revenue amounts in the table.
To maximize profit, this monopolist would produce _____ units of output at a price of $ _____ per unit.
Answers
This monopolist would generate 2 units of production at a cost of $5 for each unit in order to maximize profit.
What is marginal cost?The difference in total production costs caused by creating or producing one extra unit is known as the marginal cost in economics. Divide the variation in manufacturing costs by the difference in number to obtain marginal cost.
Finding the point at which an organization can realize economies of scale to improve production and overall operations is the goal of marginal cost analysis. A profit could be made by the producer if the marginal cost of producing one extra unit is less than the price per unit.
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power given to people because of their superior knowledge about the work is what
Answers
Answer:
Expert Power.
you are modeling a $2.00/sf/year step increase each year of the lease beginning in year 3 in the base rent varies window. using the screenshot above, please select which of the following was modeled incorrectly.
Answers
Over the course of a market lease, fixed steps are increments in the original rent that can be expressed as a currency amount, a currency amount per square unit, or a percentage increase.
Reabsorb describes a situation in which the space ceases to be a source of amount once the existing lease has expired. If you want this space to ever become accessible again in increase model, you would need to build a new line and input the SF with a start date in the future. Software called Argus modelling is used to analyse the long-term financials of a commercial real estate lease.
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07 PERSONAL FINANCE Managing Investments Ryan and DeeAnne just graduated from Delta Community College. They want to start their Personal Financial Planning. Having taken the BUSN 140 course from world renowned financier - actually only in his own mind - Joseph Lane, Jr., they are 'set to go'. They just inherited $100,000 dollars which they have hidden in the mattress. In addition, they are able to save $500 per month. In the last few chapters we studie about investment planning - a statement -preferable written-that specifies how investment capital will be invested to achieve a specified goal. Ryan and DeeAnne want to provided educational funds for the children in their future as well as buy a home in the next 5 to 7 years. Present them with an investment plan for their consideration.
Answers
Congratulations to Ryan and DeeAnne on their graduation and their inheritance! It's great to see that they are eager to start their personal financial planning. Based on their goals of providing educational funds for their future children and buying a home within the next 5 to 7 years, here is an investment plan that they can consider:
What constitutes their investment plan?1. Set aside an emergency fund: Before investing any money, it's important to set aside an emergency fund that can cover 3 to 6 months of living expenses. This will ensure that they have a financial cushion in case of any unexpected events such as job loss or medical emergencies. Ryan and DeeAnne should keep this emergency fund in a high-yield savings account or a money market account that provides easy access to their funds.
2. Invest for short-term goals: Since Ryan and DeeAnne want to buy a home within the next 5 to 7 years, they should focus on investing in relatively safe, low-risk investments that can provide a steady return. They could consider investing in a mix of bonds, bond funds, and conservative mutual funds. These investments typically provide lower returns than stocks but also come with less risk of loss.
3. Invest for long-term goals: Ryan and DeeAnne should also consider investing for their future children's education. They should invest in stocks, stock mutual funds, or exchange-traded funds (ETFs) that have a history of providing strong long-term returns. These investments carry more risk than bonds, but they also have a higher potential for growth. They should consider opening a 529 college savings plan, which offers tax advantages for educational expenses.
4. Diversify their portfolio: To minimize risk, Ryan and DeeAnne should diversify their investment portfolio across different asset classes, such as stocks, bonds, and real estate. This will help ensure that their portfolio can weather any market fluctuations.
5. Rebalance their portfolio regularly: As their investment goals and needs change, Ryan and DeeAnne should periodically review and rebalance their portfolio to ensure that it remains aligned with their investment plan.
It's important to note that investment planning is a complex process that requires careful consideration of many factors, including risk tolerance, time horizon, and investment goals. It may be helpful for Ryan and DeeAnne to consult with a financial advisor who can help them develop a customized investment plan that takes all of these factors into account.
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What are the disadvantages of centralization of authority
Answers
Answer:
abuse of authority.
not smooth functioning.
"Easton Company uses 2019: Date Activity Quantity Unit Price 5/1 Beginning Inventory 130 $11 5/5 Purchase 280 $13 5/15 Purchase 140 $15 5/25 Purchase 160 $17 Sales were 430 units at $25. Using the FIFO method, determine the dollar value of Ending Inventory for the month of May.”
Answers
Answer:
$4,520
Explanation:
The computation of the dollar value of the ending inventory using the FIFO method is as follows:
But before that the ending inventory is
= Beginning inventory + purchased units + purchased units + purchased units - sales units
= 130 units + 280 units + 140 units + 160 units - 430 units
= 280 units
Now the ending inventory is
= 160 units × $17 + (280 units - 160 units) × $15
= $2,720 + $1,800
= $4,520
What are the three classes or elements of Real Property
Answers
Real property is the land, everything that is permanently attached to the land, and all of the rights of ownership, including the right to possess, sell, lease, and enjoy the land. Real property can be classified according to its general use as residential, commercial, agricultural, industrial, or special purpose. In order to understand if you have the right to sell your home, you need to know which rights you possess—or don't possess—in the property. Mare me as brainliest
Assessment
Which of the following is an example of investing in yourself?
A. Taking the time to learn how to create a budget.
B. Investing your money in the stock market.
C. Planning out your financial goals.
D. Signing up for an online class.
10/10
Answers
Answer:
A
Explanation:
The reason is because you can learn new techniques on money saving and budgeting.
Class ________ are the number of observations for each class of a frequency distribution using grouped quantitative data.
Numbers
Boundaries
Frequencies
Widths
Answers
Answer: it's frequencies
Explanation:
Which of the following is a common role adjustment for a couple during the empty nest stage? *
Answers
This service allows you to pay at a point of sale and accesses funds in the bank but usually does not charge you a fee:
A credit card
A student loan
A debit card
A car loan
Answers
Answer:
A debit card
Explanation:
A debit card allows customers to make electronic payments using the funds at their bank accounts. If the customer does not have sufficient funds in their bank accounts, the transaction won't go through.
A debit card is similar to a credit card in appearance. However, a debit card does not levy interest fees or late payment fees because it's not a credit facility.
1. ANSWER THE FOLLOWING: YOU BUY A NEW HOT PINK VOLKSWAGON BEETLE CAR THAT COST $22,500. YOU HAVE $4,000 DOWN PAYMENT. THE BANK LOANS YOU THE MONEY AT 6% INTEREST. YOU DECIDE TO PAY MONTHLY PAYMENTS FOR 4 YEARS. HOW MUCH INTEREST DO YOU OWE THE BANK FOR BORROWING THE MONEY? HOW MUCH WILL IT COST FOR THE CAR PER MONTH PAID OVER 4 years
Answers
The total amount borrowed is $22,500 - $4,000 = $18,500.
To calculate the total interest, we need to first calculate the total amount of payments over 4 years. There are 12 months in a year, so the total number of payments will be 12 x 4 = 48 payments.
To calculate the monthly payment, we can use the formula for a fixed-payment loan:
Monthly payment = [P x r x (1 + r)^n] / [(1 + r)^n - 1]
where P is the principal (amount borrowed), r is the monthly interest rate, and n is the total number of payments.
The monthly interest rate is 6% / 12 = 0.005.
Monthly payment = [18500 x 0.005 x (1 + 0.005)^48] / [(1 + 0.005)^48 - 1] = $430.87 (rounded to the nearest cent)
The total amount paid over 4 years is $430.87 x 48 = $20,666.62.
The total interest paid is $20,666.62 - $18,500 = $2,166.62.
Therefore, the interest owed to the bank for borrowing the money is $2,166.62.
The cost of the car per month paid over 4 years is $430.87.