Information security incidents can have a direct and significant impact on a corporation’s profitability. Organizations that have experienced security incidents have endured costly fines, legal fees, reputational damage, and loss of customer confidence, all of which can lead to significant financial losses.
For example, Uber was fined $148 million in 2018 after a data breach exposed the personal data of 57 million customers and drivers. The company also paid out $100 million to the affected drivers to settle a class-action lawsuit. The incident cost Uber more than $248 million in total, not including the significant reputational damage the company sustained.
Equifax was also hit with a $700 million settlement in 2019 due to a data breach that exposed the personal data of 147 million customers. The company was also obligated to provide 10 years of credit monitoring services and was fined $175 million by the Federal Trade Commission.
Target was fined $18.5 million in 2017 for a data breach that exposed the personal data of 41 million customers. The company also agreed to pay $10 million to 47 states for their investigation of the incident.
These are just a few of the high-profile cases in which organizations have suffered significant financial losses from information security incidents. As such, it.
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which of the following is classified as investment in national income (gdp) accounting? group of answer choices building a new factory buying a 10-year-old home depositing money in a bank purchasing corporate stocks and bonds
The output of an economy is measured by its Gross Domestic Product. National income accounting is a term used to describe the calculations. C + I + G + (X-M) is the expenditure method's formula for GDP.
A. constructing a brand-new factory is the best response.
What does the term "gross domestic product" mean?For instance, Country B's GDP would be $35 if it produced five bananas worth $1 each and five backrubs worth $6 each in a single year. Country B's GDP would be $40 if the price of bananas increased to $2 the following year while production remained constant.
How is GDP determined?GDP is the sum of private consumption, gross private investment, government spending, and investment (exports minus imports). The country's national statistical agency typically uses an international standard to calculate GDP.
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"Dean Company uses the retail inventory method to estimate its inventory for interim statement purposes: Data relating to the computation of the inventory at July 31,,20X7 , are as follows: Cost Retall Inventory, 1/1[X7 P 180,Q0Q P 250,000 Purchases 1,020,000 1,575,000 Markups, net 175,000 Sales 1,705,000 Estimated normal shoplifting losses 20,000 Markdown, net 125,000 Under the average cost retail method, Dean's estimated inventory at July 31, 20X7 is P90,000 P96,000 P102,000 P150,000"
An essential tool for managing the finances is a cash-flow statement.
What precisely do business purchases entail?In accounting, the word "purchase" describes obtaining property of a particular item or service without paying a specific sum of money. On the other hand, it happens when cash is exchanged for a specific good or service. The practice is frequently carried out by people or businesses that require goods or services.
What are expenditures and purchases?Unit 16. Terms like "costs," "purchases," and "expenses" are frequently used when referring to financial statement and other financial topics. They frequently refer to the same thing, payments made by the company in exchange for goods or services.
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which of the following terms deals primarily with the tendency of non-media companies to buy smaller media outlets?
Conglomeration is the term that deals primarily with the tendency of non- media companies to buy smaller media outlet.
Conglomeration is the term used to describe the method by which a conglomerate is formed, such as when a parent corporation starts to buy out subsidiaries.
A new firm created by conglomeration is frequently a huge, international, multi-industry corporation.
A corporation can diversify its revenue sources through it, which also lowers market risk and the likelihood of takeover.
Conglomerates can cause weaknesses in the parent firm if they are poorly managed because they are distributed too thinly among too many subsidiaries.
Through mergers and acquisitions, conglomerates are formed.
Companies can pay for mergers and acquisitions with cash, by purchasing shares of stock, or by using a combination of the two.
Question
which of the following terms deals primarily with the tendency of non-media companies to buy smaller media outlets?
option
a) Hypercommercialism.
b) Globalization.
c) Conglomeration
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which of the following represents the real flow of cash that a firm could pay out without impairing its productive capacity? multiple choice question. profits economic earnings accounting earnings gaap earnings
Economic Earnings represents the real flow of cash that a firm could pay out without impairing its productive capacity.
What does Real flow mean?
Next Limit Technologies created Real Flow, a fluid and dynamics simulation software. It is used to simulate a wide range of physical phenomena, including fluid, smoke, spray, and granular materials, as well as rigid and soft body dynamics. Its powerful hybrid solver, which combines particle-based and grid-based approaches, can simulate a wide range of real-world scenarios.
What does Economic Earnings means?
Economic earnings is an accounting term that refers to a company's total profits after deducting all costs, expenses, and taxes. It is the amount of money a company has left over after all costs and expenses have been paid. It is also known as "economic profit" or "net economic income." Economic earnings are important for assessing a company's overall financial performance.
Therefore the correct option is Economic earnings.
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match the type of expense to the appropriate tier for the purpose of the home office deduction. tier 1 tier 1 drop zone empty. tier 2 tier 2 drop zone empty. tier 3 tier 3 drop zone empty. generally, expenses allocated to the business use of the home except for interest, taxes, and depreciation generally, mortgage interest and real property tax allocated to the
The following instances of needs must be matched to each level of Maslow's Hierarchy:
What can we learn from Maslow's hierarchy?Our knowledge of motivation, achieving goals, and finding personal fulfilment is strengthened as a result. Additionally, it gives human psychology a structure and clarity that previously appeared elusive. The hierarchy's simplicity has contributed to Maslow's theory's continued popularity over time.
Which of the Maslow hierarchy of requirements are some examples?A few examples include air, food, water, shelter, clothing, heat, sex, and sleep. Among the requirements for safety are weatherproofing, security, peace, and stability. Love and togetherness, including the need for strong relationships as well as a sense of belonging are the primary social wants.
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T/F. the alert roster must be tested more frequently than other components of a disaster recovery plan because it is subject to continual change due to employee turnover.
The alert roster must be tested more frequently than other components of a disaster recovery plan because it is subject to continual change due to employee turnover is true.
What does alert stand for?Assure, Look, Employees, Reports, and Threat are all abbreviated as ALERT. It is connected to five questions that aim to increase knowledge of crucial food defense issues in the food industry, such as reporting suspicious behavior and product security.
A company's alert roster is a document that lists the people who should be notified when an issue happens. Sequential and hierarchical alert rosters are available. The sequential roster serves as an illustration of how one person can call everyone else on the roster.
Therefore, a formal document called a disaster recovery plan (DR plan) is produced by an organization and offers comprehensive guidelines on how to handle unanticipated events like natural disasters, power outages, and cyberattacks.
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This year Andrews achieved an ROE of 12.2%. Suppose the Board of Directors of Andrews mandates that management take measures to increase financial leverage (=Assets/Equity) next year. Assuming Sales, Profits, and Assets remain the same next year, what effect would you expect this new leverage policy will have on Andrews ROE?-Andrews ROE will decrease.-Andrews ROE will remain the same.-Andrews ROE will increase.
Assuming Sales, Profits, and Assets stay the equal subsequent year, this new leverage coverage can have on Andrews ROE -Andrews ROE will decrease.
The required details about Leverage is mentioned in below paragraph.
Leverage refers to using debt (borrowed funds) to enlarge returns from an funding or project.
Investors use leverage to multiply their shopping for strength withinside the market.
Companies use leverage to finance their belongings—rather than issuing inventory to elevate capital, organizations can use debt to spend money on commercial enterprise operations in an try to growth shareholder value.
There is a variety of economic leverage ratios to gauge how unstable a company's role is, with the maximum not unusualplace being debt-to-belongings and debt-to-equity.
Misuse of leverage can also additionally have extreme consequences, as there are a few that agree with it performed a component withinside the 2008 Global Financial Crisis.
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Due to the large number of products that they are responsible for selling, wholesalers' order takers should focus on ______. (Check all that apply.)
Wholesalers' order takers should focus on placing orders, confirming that orders have been filled on time, and maintaining close contact with customers.
Who are a retailer and a wholesaler?Retailers sell products directly to end users, generally in limited quantities, to highlight the main differences. Wholesalers, on the other hand, sell products to other retail business owners and individuals who, in turn, sell the products to the final consumer.
What do you mean by wholesaling?Purchasing items in bulk at a reduced cost from a manufacturer and selling them to a retailer at a higher price for them to repackage and then sell to customers in smaller quantities at an even higher price is known as wholesaling.
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according to our understanding of integrated marketing communications, which of the following is not an example of one of the 10 rules of integration?
According to our understanding of integrated marketing communications, of the following is not an example of one of the 10 rules of integration start with a large budget.
How ought a novice to establish a budget?Set some objectives.
Establish your income.
Establish your costs.
Establish a budget.
Initially, pay yourself!
Be cautious when using credit cards.
Regularly check back.
How do you begin a strict spending plan?First, figure out your net income. Your net income is the basis of an efficient budget.
Next, keep tabs on your spending.
Step 3 is to make practical goals.
Make a plan in step four.
5. Modify your expenditures to keep inside your spending limit.
Step 6: Regularly review your spending plan.
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Properly designed and targeted telemarketing provides many benefits, including purchasing convenience and increased product and service information.
Numerous advantages can be obtained by well-planned and targeted telemarketing, including easier shopping and more information about goods and services.
Is the assertion accurate?True, well-planned and focused telemarketing offers a variety of advantages.
How does telemarketing operate and what is it?Telemarketing is a direct form of advertising in which a sales professional makes phone calls to potential clients to promote a product or service. Customers may be contacted by salespeople via phone, email, or other means on the internet. Selling goods or services over the phone is known as telemarketing. Businesses will occasionally refer to it as "tele-sales" or "inside sales."
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If an oligopoly is faced with a kinked demand curve which is relatively elastic above and relatively inelastic below the going price, then it will:
(a) increase total revenue by increasing price, but decrease total revenue by decreasing price.
(b) increase total revenue by decreasing price, but decrease total revenue by increasing price.
(c) increase total revenue by either increasing or decreasing price.
(d) decrease total revenue by either increasing or decreasing price.
(d) decrease total revenue by either increasing or decreasing price.
kinked-demand curve model of oligopoly:This model was developed independently by Prof. Paul M. Sweezy on the one hand and Profs. R. C. Hall and C. J. Hitch on the other hand.
The assumptions of kinked-demand curve model of oligopoly are:
(i) In an oligopolistic market, there aren't many companies.
(ii) The businesses are making nearly identical products.
(iii) The companies don't invest in advertising, and the quality of the goods stays the same.
(iv) The product has previously been assigned a set of pricing, and these prices are now in effect.
Because oligopolistic prices may shift seldom, the kinked-demand curve model of oligopoly can help to explain why.
Due to the fact that an oligopoly's kinked demand curve is highly elastic above and relatively inelastic below the going price.
This means that because demand is inelastic and price declines, the response to a price rise is less than the response to a price decrease. As a result, either an increase in price or a decrease in price will reduce overall income.
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The vast majority of archaeological sites that are found during survey in advance of construction in the United Statesanswer choicesdo not meet the criteria to be considered significant and are recorded and destroyedare major archaeological sites that require full excavationare automatically destroyed and not recordedcause construction plans to be abandonednone of the choices
The vast majority of archaeological sites that are found during survey in advance of construction in the United States do not meet the criteria to be considered significant and are recorded and destroy.
The archaeological refers to the study about finding the evidence of the past human-being life with the help of the remaining materials and examination the finding evidences or materials like building, tools etc.
The archaeological sites that are found during survey in advance of construction in the United States large areas were in the survey which include the living place, agricultural place etc.
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Real GDP is:
A. calculated by adding up only the real number of all items sold in the U.S. regardless of their prices.
B. the value of the production of all final goods and services adjusted for price changes.
C. the value of the production of all final goods and services measured in current prices.
D. the projected future value of GDP.
Real GDP is the worth of all final good and service production that has been modified for price changes.
What makes GDP so crucial?The importance of GDP can be attributed to the information it provides regarding the size and health of an economy. Real GDP growth is frequently employed as a gauge of the state of the economy as a whole. Real GDP growth is generally considered a positive indicator of the health of the economy.
The GDP calculation method is?GDP equals private consumption plus gross domestic product plus government investment plus government spending plus (exports – imports). The national statistical office of the nation typically calculates GDP using the international standard.
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The market value of a fund's net assets divided by the number of mutual fund shares outstanding is called the NAV of the fund.
a. True
b. False
The market value of a fund's net assets divided by the number of mutual fund shares outstanding is called the NAV of the fund is option a. True.
What is market value in mutual fund?It is the price at which investors purchase fund shares from a fund company (bid price) and sell them to a fund company (redemption price). The total worth of all the cash and securities in a fund's portfolio, less any liabilities, is divided by the number of outstanding shares to arrive at the fund's NAV.
The total value of the assets owned less the total liabilities equals the Net Asset Value (NAV), which calculates the market value of an investment vehicle, such as a mutual fund.
Therefore, the net asset value of an investment fund is calculated by dividing the number of outstanding shares by the net value of the fund's assets less its liabilities. The pricing of each share is based on the NAV, and funds may be open or closed.
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Which of the following are characteristics of blockchain technology? (select all that apply)
a. Decentralized technology
b. Distributed transaction ledger
c. Secure framework
d. High profit margins
Decentralized technology, Distributed transaction ledger, Secure framework are characteristics of blockchain technology.
What does Decentralized Technology means?
Decentralized technology, also known as distributed technology, refers to a system in which components are distributed across a network rather than being stored in a centralized system. Users can control and manage their data and activities using this technology without relying on a centralized authority. It also enables more secure and reliable data exchanges and transactions because there is no single point of failure. Furthermore, by eliminating the need for a third party to facilitate transactions, decentralization helps to reduce costs and increase efficiency.
What is Blockchain Technology?
Blockchain technology is a distributed ledger system that is decentralized and records digital transactions across a peer-to-peer network. It is a shared digital ledger of transactions that is constantly growing as new blocks are added to it, with a secure record of each transaction. Each block contains the previous block's cryptographic hash, a timestamp, and transaction data. A blockchain is resistant to data modification by design and is inherently secure, efficient, and transparent.
Threfore the option A,B & C Decentralized technology, Distributed transaction ledger, Secure framework is the correct answer.
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Experian, Equifax, and Transunion are all types of ______ companies.
security
stock exchange
financial planning
credit reporting
Experian, Equifax, and Transunion are all types of credit reporting companies.
Firms that gather and sell credit reports are known as credit reporting companies, commonly referred to as credit bureaus or consumer reporting agencies. Companies that collect credit account information on your borrowing and repayment history do so in the following ways:
the loan's initial principal sumA credit card's credit limitA credit card or other loan's outstanding balanceThe account's payment status, including whether you have timely repaid your loansproducts sent for collectionjudgments and bankruptcies are examples of public records.Thousands of lenders across the nation, public documents like bankruptcies, garnishments, liens, and other judgments, and collections agencies that offer information on past-due accounts are just a few of the sources that credit reporting bureaus might use to acquire information.
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the cost of producing one more unit of a good or service the situation where an additional unit of a good or service costs the same as each of the former units
The total cost a business incurs to produce one unit of output, assuming that cost does not change, is referred to as the constant marginal cost. Because cost is the same for each and every unit produced, it is seen as a constant.
Make a marginal cost (MC) curve by plotting the expenses related to the different outputs you identified from the previous lesson. Plot the total product along the horizontal axis and the MC along the vertical axis. You can connect the points given that the sites you found do not entirely encompass all MC and TP combinations.
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the application of analytical tools to general-purpose financial statements. the communication of financial information useful for making investment, credit, and other business decisions. general-purpose financial statements only. ratio analysis only. profitability.
True.
How do financial statements work?An organization's financial results, financial condition, and cash flows are all summarized in its financial statements. The balance sheet, cash flow statement, and income statement are a few of them.
What Drawbacks Are There to Financial Statements?
Issuing financial statements has a few drawbacks. They may be fraudulently manipulated, giving investors to assume that the issuing firm has achieved better performance than was actually the case. This is a potential worry. A lender may offer debt to a company that cannot reasonably repay it as a result of such manipulation. Financial statements are totally historical in nature, which makes them potentially misleading when used to forecast future corporate performance.
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True. The application of analytical tools to general-purpose financial statements.
How do financial statements work?An organization's financial results, financial condition, and cash flows are all summarized in its financial statements. The balance sheet, cash flow statement, and income statement are a few of them.
What Drawbacks Are There to Financial Statements?Issuing financial statements has a few drawbacks. They may be fraudulently manipulated, giving investors to assume that the issuing firm has achieved better performance than was actually the case. This is a potential worry. A lender may offer debt to a company that cannot reasonably repay it as a result of such manipulation. Financial statements are totally historical in nature, which makes them potentially misleading when used to forecast future corporate performance.
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judy owns a bookstore/cafe that has always done pretty well. however, a new competitor recently opened a block away, and judy's business has decreased. which of the following decisions would likely constitute an impermissible action on judy's part?
Judy constructs a repulsive rumor about her rival and spreads it to her clients.
What is impermissible action?
The forbidden is not permitted. Driving a vehicle at a speed of 100 mph on a highway is forbidden everywhere in the United States. You are allowed to do things that are permissible because they are acceptable, agreeable, or legal. The Company may stop making any additional payments that would otherwise be due under this agreement during the Severance Period and (ii) recover from the Executive any and all payments made under this agreement before the Company learned that the Executive was engaging in Impermissible Activities. A major change in the futures contract's or the commodity's constitution or composition that has occurred since the contract's launch date is referred to as a "material change in content."
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question 1: which form of business organization should the group select for the new restaurant and why? what would you tell them? provide the legal reasons that support your recommendation, using the key concepts presented in chapters 21 and 22. who is correct? faye and jet (corporation); spike (partnership); or ed (llc)?
The form of business organization should the group select for the new restaurant is partnership.
If two or more people decide to open a restaurant jointly, the partnership is the best type of legal form to use. A partnership is a type of business where two or more persons enter into a legal agreement to be co-owners, share in the organization's profits or losses, and divide the duties for managing it.
A partnership is a type of business where two or more persons jointly own the company and are responsible for managing it and for any profits or losses it makes.
National Government Act. The Indian Partnership Act of 1932, Section 4. 4. A definition of "firm name," "partnership," "partner," and "firmship." The relationship between people who have decided to split the earnings from a firm that is operated by all of them acting for all of them is known as a "partnership."
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betty, an american, works for a knitwear company in new jersey. her manager, ruth, sends her on an overseas assignment to handle operations at the company's newly acquired plant in japan. which of the following, if true, could have most likely led to betty being chosen for the assignment?
Being ahead of the pack and accomplishing goals are more important to Nate.
Why is achieving goals so important?By making goals, we may go forward in life. Our goals provide us a direction to travel in. Setting goals enables us to keep ourselves accountable, even when we fail. When we make goals and work to achieve them, we are able to identify what it is that we truly want in life.
Why is it important to set goals and objectives before hand?Setting goals makes it necessary for you to plan ahead, which enables you to create an action plan. Even if things don't turn out exactly the way you expected, it's still okay because you can look back, make changes to your plans, and then drive your life toward your objective. Understand that everything is created twice—once in the mind and again in the physical universe.
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a local business that hires a sign holder to stand on the sidewalk, trying to catch the attention of passersby by promoting a special marketing event, is using .
A local business that hires a sign holder to stand on the sidewalk, trying to catch the attention of passer by promoting a special marketing event, is using guerrilla marketing.
What is Guerrilla marketing?
Guerrilla marketing is the employment of creative, unorthodox strategies to increase sales or spark interest in a product or company. These techniques frequently entail low- or no-cost usage of more casual contacts or through viral social media messaging.
What makes guerrilla marketing so effective?
Campaigns that use Guerilla marketing are distinctive, out-of-the-box, and have a history of influencing consumers. Customers who experience a successful campaign are left amazed, intrigued, and curious about the product and/or service. This marketing tactic aids in increasing brand memory.
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A life insurance policy which contains cash values that vary according to its investment performance of stocks is called
A) Increasing Term Life
B) Modified Whole Life
C) Variable Whole Life
D) Adjustable Whole Life
Variable whole life (C) refers to a life insurance policy with cash values that change based on stock investment performance.
What investment means?Investments are defined as assets bought or invested in with the goal of increasing wealth and setting aside funds from salary or capital gains. The main goal of an investment is to generate additional revenue or to make money on the investment over a certain amount of time. The most crucial aspect of effective investing is how long your money stays invested.
Why is investment important in the future?A method to put your money to work for you is by investing. Basically, it's a strategy to make the most of your financial resources. Basically, investing is putting your money in a position where it will grow in value over time. Basically, it's a strategy to make the most of your financial resources. Putting money into yourself will increase your self-esteem and confidence in your own abilities. By concentrating on your own development, you will learn more about yourself and acquire new skills.
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Consider the case when Sony uses a Periodic Review Policy (I, S). Sony plans to order from its supplier once in fourteen business days, corresponding to a Review Period of I = 14 business days. The supplier delivers each order in a lead-time of 6 business days. Sony has an expected (average) daily demand of 150 units with a standard deviation (of daily demand) of 30 units. The management team at Sony continues to target a 93% service level. What is the appropriate safety stock (SS) ? Given the appropriate safety stock (SS) and the same information as in question 4, what is the appropriate base stock (S)? (Considering your answers to questions 4 and 5) What happens to SS and S (increase or decrease) if the service level is increased from 93% to 95%? Given all information from question 4,5, and 6, if Sony has 220 cards leftover in inventory at the end of a review period, how much should it order from its supplier to have a 93% service level? Given all information from question 4,5,6. If Sony has 220 cards leftover in inventory at the end of a review period, how much should it order from its supplier to have a 95% service level?
A The standard deviation (or ) measures how widely distributed the data are in relation to the mean. Records are concentrated throughout the suggest if the general deviation is low, and high if the trend deviation is
Give a definition of a periodic review system and an illustration:
The periodic review technique allows you to estimate the quantity of a product your business has on hand at predetermined, set intervals of time (such as every Friday or the last day of every month).
What benefit does a system of periodic reviews offer?
The periodic inventory method has the benefit of eliminating the requirement for separate accounting for inventories of raw materials, work-in-progress, and finished items. The only thing that is noted are purchases.
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Firms that use taper integration also use _____ when they rely on outside-market firms for some of their supplies.a) backward horizontal integrationb) forward vertical integrationc) forward horizontal integrationd) backward vertical integration
The Firms that use taper integration also use backward vertical integration when they rely on outside-market firms for some of their supplies.
What is meant by vertical integration?An structure in which a corporation's supply chain is integrated and owned by that company is referred to as vertical integration in the fields of microeconomics, management, and international political economy. The business structure known as vertical integration involves a company controlling various supply chain stages. To have more control over the production process, the business tries to bring processes in-house rather than relying on outside vendors. For businesses like Amazon, Apple, Ferrero, Tesla, and NVidia, vertical integration has been a key component of their strategies ever since 2021. We explain why major corporations are altering their strategy in this post. By integrating vertically, businesses can do away with high markups and other expenses related to brokers or wholesalers.To learn more about vertical integration refer to:
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g changes in prices of a good causes movement along the demand curve. movement along the supply curve. no movement along either curve. both a and b.
The changes in prices of a good causes movement along the demand curve. According to the economics, the variation of change price with the demand curve.
The demand curve is the graphical representation between the demand of the commodity and the amount of price, and also with supply curve, quantity of products.
The demand curve represents the increasing products demand with the changes in prices curve with remain all the constant same.
The demand curve, when the prices change is along the quantity demand curve. The demand curve will be upward and downward with respect to other factors.
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Companies perform aggregation along the three dimensions of:
A) products, labor, customers.
B) time, suppliers, services.
C) products / services, labor, time.
D) time, products, customers.
Option C is correct , products / services, labor, time are the three dimensions along which companies perform aggregation.
What is Aggregate Planning?Aggregate planning is a technique for creating a comprehensive manufacturing plan that guarantees continuous production at a facility. Typically, a 3- to 18-month time frame is used for aggregate production planning. Aggregate planning includes not just individual production runs or the creation of individual goods, but all production operations at a facility (or for large businesses, across numerous facilities). As a result, despite large variations in demand for individual items brought on by adjustments in client orders, supply chain dynamics, and other factors, aggregate production planning aids producers in maximizing resource usage. Aggregate planning is a feature of an advanced planning and scheduling (APS) system that firms who use digital systems in a manufacturing operations management (MOM) ecosystem can use.
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Destiny has three employees whose work habits she struggles to understand. Spencer likes to come in at noon and work until late in the evening. Lydia comes in early, creates a task list for the day, and only works on what is on the list. Miranda flits in and out of others' cubicles, and seems to always be off task, but when asked for a report, she has it handy. By applying the behavioral viewpoint, Destiny will be better able to Multiple Choice create, acquire, and transfer knowledge keep employees focused on achieving goals. make continuous improvements. create cross-functional synergy
Three of Destiny's employees have work habits that she finds difficult to comprehend. Lydia arrives early, makes a list of the day's tasks, and only works that day.
What exactly do you mean by accomplishing goals?When you succeed in carrying out or causing to occur a specific purpose or outcome, it is usually only after much effort.
Why is it important to achieve a goal?image outcome
We can advance in life by setting goals. Goals provide us with a path to follow. Even if we fall short, having goals helps us hold ourselves accountable. We are able to clarify what we genuinely desire in life when we set objectives and strive toward achieving them.
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Luker Corporation uses a process costing system. The company had $169,500 of beginning Finished Goods Inventory on October 1. It transferred in $846,000 of units completed during the period. The ending Finished Goods Inventory balance on October 31 was $167,200. The entry to account for the cost of goods sold in October is:
Multiple Choice
Debit Cost of Goods Sold $846,000; credit Finished Goods Inventory $846,000.
Debit Cost of Goods Sold $848,300; credit Finished Goods Inventory $848,300.
Debit Cost of Goods Sold $848,300; credit Work in Process Inventory $848,300.
Debit Finished Goods Inventory $167,200; credit Cost of Goods Sold $167,200.
Debit Finished Goods Inventory $846,000; credit Work in Process Inventory $846,000.
Debit $848,300 for the cost of goods sold; credit The item to reflect the cost of goods sold in October is Finished Goods Inventory $848,300.
Cost of Goods Sold Debit 848,300
(169,500+846,000-167,200) = 848,300 Credit - Finished Goods Inventory
The direct expenses incurred in creating the products a business sells are referred to as COGS. The cost of the materials and labor used directly to make the good are included in this sum. Indirect costs like those associated with the sales force and distribution are not included.
Due to the fact that COGS is deducted from revenues to calculate gross profit, it is a crucial financial statement indicator. The gross profit is a profitability indicator that assesses a company's capacity to effectively manage its work force and resources during the production process.
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When the market rate is 10%, a company issues $60,000 of 12%, 10-year bonds dated January 1, 2017, that mature on December 31, 2026, and pay interest semiannually. When the bonds mature, the issuer records its payment of principal with a (debit/credit) Credit to Cash in the amount of $5000.
The bonds mature, the issuer records its payment of principal with a (debit/credit) Credit to Cash is $60,000
Given:-10% of market rate
$60k in face value equals $60k in principal.
Because the bondholder will pay the principal and interest, the issuer records its payment of principal with credit to cash in the amount of $60,000 when the bonds mature.
Therefore,
Because there is an additional interest amount that must be paid, the bondholder will pay the $60,000 issued amount as principle.
Because it matures on the day when the cash is paid, it qualifies as credit.
Is that a credit or a debit account for bonds payable?When it comes time to redeem the bonds, all premiums and discounts should have been amortized, so the entry is simply a debit to the bonds payable account and a debit from the cash account.
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