why is top management support needed when abc is implemented? multiple choice question. leadership is instrumental in motivating employees to embrace abc. management must deliver data needed to support abc. management needs to create and design the abc system

If your purchases of shoes decrease from 11 pairs per year to 9 pairs per year when your income increases from $19,000 to $21,000 a year, then, for you, shoes are considered an (B) inferior good.

Inferior goods are products whose consumption is reduced when people's income rises, either because they can no longer afford them or because they prefer higher-quality alternatives.

Inferior goods are products whose consumption decreases as people's incomes rise, as opposed to normal goods.

When the price of an inferior good rises, people may start buying more of it rather than less of it, because it becomes more cost-effective than higher-quality substitutes.

Inferior goods, on the other hand, are those goods that are demanded less when the customer's income rises, indicating a negative connection between the customer's income and the inferior good's price.

As a result, option B is the right choice. Shoes are considered an inferior good, as the customer's income increases from $19,000 to $21,000 per year, the pair of shoes decreases from 11 pairs per year to 9 pairs per year.

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The commands that display information about the account issuing the command are whoami, who am i, and id. Thus, Options A, B and E are correct.

whoami, who am i, and id are Unix/Linux commands that display information about the current user or account. The whoami command shows the username of the current account, while who am i displays the username and terminal of the current account. The id command shows the user ID, group ID, and groups of the current account.

On the other hand, cat $HOME/.bashrc and cat $HOME/.profile are commands that display the contents of the .bashrc and .profile files, respectively, which may contain information about the user's shell settings and environment variables, but not necessarily information about the account issuing the command.

Therefore, options A, B, and E are correct.

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Mortgage-backed securities are assigned ratings by Rating Agencies. The correct option is c.

Mortgage-backed securities are a kind of asset-backed security that is backed by a pool of mortgages. They're issued by the government-sponsored enterprises Fannie Mae and Freddie Mac, as well as other financial institutions. The objective of mortgage-backed securities is to provide investors with a means to participate in the real estate market without having to own properties themselves. The cash flow from the mortgages in the pool is distributed to the securities owners as payments of interest and principal on a monthly or quarterly basis.

Mortgage-backed securities are assigned ratings by rating agencies. Moody's, Standard & Poor's, and Fitch are examples of such businesses. These rating agencies examine the likelihood of the securities' payments and provide investors with information about the degree of risk involved. Therefore, the correct option is c.

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In the following question, among the given options, the statement is said to be option D). To comply with the Magnuson-Moss Warranty Act, Saundra  "must provide a written warranty, and it must be written in simple, understandable language."

What is the Magnuson-Moss Warranty Act? The Magnuson-Moss Warranty Act is a federal law that regulates warranties on consumer goods. It is also referred to as the "federal lemon law." The act provides consumers with a range of rights related to warranties, which apply to goods such as electronic gadgets, cars, and household appliances. The act has three main objectives: to ensure that consumers can easily access warranties that are easy to read and understand; to reduce the expense of warranty repair disputes; and to promote a competition based on warranty coverage.

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An employment rate refers to the employment-to-population ratio or, more specifically, the proportion of working-age persons employed in an economy.

The given table describes the hypothetical employment statistics for a country in a given year.

The table shows the following information:

Full-time workers = 188 million

Involuntary part-time workers = 6 million

Discouraged workers = 4 million

Voluntary part-time workers = 200 million

= 188 million + 6 million + 4 million + 200 million= 398 million

= 6 million + 4 million= 10 million

Unemployment rate = (Number of unemployed persons / Labor force) × 100

Putting the given values in the above formula, we get:

Therefore, the unemployment rate is 2.51%.

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You would like to retire on $1,500,000. You plan on a 6% annual investment rate and will put away $9,000 twice a year at the end of each semi-annual period. It will take 14.5 years to retire with $1,500,000.

The number of years it will take to retire with $1,500,000,

[tex]FV = Pmt x [(1 + r/n)^(n x t) - 1] / (r/n)[/tex]

FV is the future value of the annuity (the amount you want to retire with)

Pmt is the amount of each semi-annual payment ($9,000)

r is the annual investment rate (6%)

n is the number of times the interest is compounded per year (2, since the payments, are made semi-annually)

t is the number of years until retirement (what we want to find)

Plugging in the values, we get:

[tex]1,500,000 = 9,000 x [(1 + 0.06/2)^(2 x t) - 1] / (0.06/2)[/tex]

[tex]1,500,000 = 9,000 x [1.03^(2t) - 1] / 0.031,500,000 x 0.03 = 9,000 x [1.03^(2t) - 1]45,000 = 9,000 x [1.03^(2t) - 1]1.03^(2t) - 1 = 51.03^(2t) = 6[/tex]

Taking the natural logarithm of both sides:

[tex]2t x ln(1.03) = ln(6)t = ln(6) / (2 x ln(1.03))t ≈ 14.5[/tex]

Therefore, it will take approximately 14.5 years (rounded to the nearest year) to retire with $1,500,000.

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The purchase of bonds by the Federal Reserve will have the greatest effect on real gross domestic product (GDP) if there exists a deflationary gap in the economy.

Deflationary gap refers to a situation where the economy's aggregate demand (AD) is less than the aggregate supply (AS), resulting in declining output levels and rising unemployment. In such a situation, the government can intervene and employ expansionary monetary policy measures to boost the economy's aggregate demand levels. One of the ways to do so is by purchasing government securities (bonds) from the financial markets. It is also known as quantitative easing (QE).The Federal Reserve is responsible for controlling the nation's monetary policy. They regulate the money supply and interest rates in the economy. By purchasing government securities, the Federal Reserve injects money into the economy, increasing the reserves of banks, and thereby boosting lending and spending activity. As a result, the economy's aggregate demand levels rise, leading to higher production and employment levels. This, in turn, causes real GDP to increase, thereby reducing the deflationary gap. The monetary policy of bond purchase helps to stimulate the economy during periods of recession, promote economic growth and employment creation, and increase inflation levels.The Federal Reserve uses this monetary policy as a tool to counteract negative shocks to the economy, such as recession, high unemployment rates, or decreasing prices. By increasing the money supply, the government is stimulating demand and encouraging economic activity. The purchase of bonds helps to create new jobs, stimulate spending, and ultimately lead to an increase in real GDP levels. Hence, it can be concluded that the Federal Reserve's purchase of bonds will have the most significant effect on real GDP if there exists a deflationary gap in the economy.

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Complete question:

The purchase of bonds by the Federal Reserve will have the greatest effect on real gross domestic product if which of the following situations exists in the economy?

(A) The required reserve ratio is high, and the interest rate has a large effect on investment spending.

(B) The required reserve ratio is high, and the interest rate has a small effect on investment spending.

(C) The required reserve ratio is low, and the interest rate has a large effect on investment spending.

(D) The required reserve ratio is low, and the marginal propensity to consume is low.

(E) The marginal propensity to consume is high, and the interest rate has a small effect on investment spending.

The theory that seeks to produce equality in trade relationships between countries, guaranteeing equity, is called the Most-Favored Nation (MFN) principle.

Also Known As MFN, this principle states that all countries should receive the same trade terms, so that no one country can have an advantage over another. This is meant to ensure equality in trade relationships.

This principle is an important element of the World Trade Organization (WTO). It requires that a WTO member country's trading partners be granted trade advantages (like reduced tariffs) on terms equal to the most favourable terms provided to any other country.

The MFN principle is fundamental to the rules of the WTO, and it is often included in bilateral and multilateral trade agreements. It ensures that all WTO members receive equal treatment, regardless of the trading partner with whom they are negotiating.

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The correct option is B. Product mix. A product mix is a combination of different types of flows through a process.What is Product Mix?

The collection of all the product lines and items a company has is known as its product mix. It's also known as product range or product assortment. A company's product mix represents the total number of different items that a company has.

Product mix is an important concept in the world of marketing that refers to the collection of various products that a company provides. Product mix is a vital strategic instrument in a company's marketing arsenal. It serves as a comprehensive representation of all the products that a business offers.

Marketers frequently talk about product mix in terms of width, length, depth, and consistency. The product mix is the comprehensive representation of a firm's various product lines and their distinct characteristics, features, and benefits.

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The correct option is A) Nominal wealth has increased. If the market prices of publicly traded stocks and bonds rise while the productive capacity of those assets has not increased, the nominal wealth of the holders of those stocks and bonds has increased.

What is nominal wealth?

Nominal wealth refers to the monetary value of an individual's assets. Nominal wealth is calculated by multiplying the number of stocks or bonds a person owns by the market price of each stock or bond.

What is real wealth?

Real wealth refers to the value of a person's assets in relation to the amount of goods and services they can purchase with those assets. Real wealth is measured by the inflation-adjusted value of a person's assets.Inflation can affect both nominal and real wealth. Inflation can cause nominal wealth to rise without any increase in real wealth, which is what happens when the market prices of publicly traded stocks and bonds rise while the productive capacity of those assets has not increased. This is because inflation can increase the market price of stocks and bonds without any corresponding increase in the amount of goods and services that those stocks and bonds can buy.

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The announcement of a dividend increase by a growth company may have the impact of an increase in price due to the expectation of increased cash flow. Hence option A. is correct.

Dividend is defined as the amount of profit that the company distributes to its shareholders, out of the total profits earned by the company.

Dividends can either be cash or stock dividends. It is usually paid out in proportion to the number of shares held by the shareholders. The payment of dividends is not an obligation, but rather it is up to the discretion of the management of the company.

Dividends are announced at the end of the financial year of the company, and they are paid out after approval from the shareholders.

When a company announces an increase in dividend, it indicates that the company is profitable and has strong cash flow. This is viewed positively by the investors, and as a result, the price of the company's shares may increase.

Hence, an increase in dividend may be seen as a sign of growth opportunities. Therefore, option A. increase in price due to expectation of increased cash flow is correct.

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The difference of $1,000 is treated as a gain on the sale.

If a company purchases treasury stock for $6,000 and then reissues it for $5,000, the difference of $1,000 is treated as a gain on the sale. The treasury stock is repurchased by the issuing company from its shareholders. It is not the same as outstanding shares that are held by investors outside of the company.

Treasury stock is a way for companies to return cash to shareholders. They are shares that have been purchased by the company in the past and are now held in its treasury. Therefore, the difference of $1,000 is treated as a gain on the sale.

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In the following question, among the given options, Answer c). "Kenzie and Ming." if the price is $6.25, who would be willing to supply the product "Kenzie and Ming."

To find out who is willing to supply the product at the given price, we look at the supply schedule in the table. The supply schedule shows the various quantities that suppliers are willing to produce and sell at different prices. From the table, we can see that at a price of $6.25, only Kenzie and Ming are willing to supply the product. Kenzie is willing to supply 80 units, while Ming is willing to supply 10 units.

Therefore, the correct answer is option c. Kenzie and Ming.

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The balance to be reported was $82,000 in the company's December 31 year-end balance sheet.

To close the temporary accounts, the necessary entries on December 31 of the current year would be:

Retained earnings are usually held by the company as a provident fund or business development fund. 

If Fick's Retained Earnings account had a $90,000 balance at the beginning of the current year, then its balance should be reported as $82,000 in the firm's year-end balance sheet dated December 31. This is because the $8,000 dividend was declared and paid out during the current year.

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The more elastic the demand and the more inelastic the supply, the smaller the consumer surplus is relative to the producer surplus.

In a market where both the demand and supply curves are straight lines, the more elastic the demand curve, the greater the consumer surplus. This is because as the price increases, consumers will demand fewer units of the good, and those who are willing to pay a higher price will still be able to purchase it.

On the other hand, if the demand is inelastic, consumers will still purchase the same amount of the good, even as the price increases, resulting in a smaller consumer surplus.

Similarly, the more elastic the supply curve, the greater the producer surplus. This is because as the price increases, producers will supply more units of the good, and those who are willing to accept a lower price will still be able to sell it.

If the supply is inelastic, producers will not be able to increase production significantly, even if the price increases, resulting in a smaller producer surplus.

Therefore, in a situation where the demand is elastic and the supply is elastic, the producer surplus and consumer surplus will be relatively larger, resulting in a more efficient market.

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In relating this instance, Lars provided an example as supporting material. An example is a specific instance or an illustration that clarifies or enhances a general statement or a concept.

This example given by Lars is a powerful one and can help people understand how important it is to remain hopeful even when all seems lost. The example he gives is that investigators found two missing children, Ben Ownby who had been missing for a week, and Shawn Hornbeck who had been missing for 4.5 years, in the same apartment, captives of the same perpetrator.

This instance is a powerful illustration of the need to remain hopeful even when things seem impossible. It shows how law enforcement officials can do their job effectively if they are provided with the right resources and if they remain focused and committed to the task at hand.

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If company a run an aggressive advertising campaign that tells customers why they should quit doing business with company b and do business with a instead, b will be able to sue a for interference with a prospective advantage. This statement is true.

Advertising is a communication approach in which a seller or service provider promotes or persuades people to purchase their product or services. Advertisements persuade potential buyers to use your product or service by presenting a message that inspires, educates, and motivates them. The goal of advertising is to create awareness and raise demand for a specific product or service by informing customers about its benefits. The advertising process is intended to reach a target audience and provide them with the information they need to make informed purchase decisions.

A campaign is a strategy for achieving specific business goals or aims that are targeted at a particular market or client base. It's a planned effort to persuade customers to take action, like purchase or use a particular product or service. A campaign can be used to increase sales, improve brand recognition, or introduce new products to the market. A campaign usually includes a set of activities, such as advertisements, public relations, direct mail, and online promotions. They are designed to help achieve a particular goal or objective.

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When students use the comprehended association to generate a new or novel product, they are engaging in creativity.

Creativity is the process of generating new and useful ideas, concepts, or solutions that are relevant to a particular problem or situation. It is the ability to think outside the box, to see things from a different perspective, and to come up with innovative solutions to complex problems.

There are several techniques that individuals can use to stimulate creativity, one of which is comprehended association. Comprehended association involves generating novel or original ideas by combining or synthesizing existing ideas, concepts, or knowledge. By making new connections between existing ideas, comprehended association enables individuals to generate new and innovative solutions to complex problems or challenges.

Thus, when students use the comprehended association to generate a new or novel product, they are engaging in creativity, which is the process of generating new and useful ideas, concepts, or solutions that are relevant to a particular problem or situation.

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Since accounting numbers, such as the allowance for doubtful accounts balance, are based on estimates, financial statements are susceptible to management manipulation.

Accounting numbers refer to financial information or numerical data that are derived from an organization's financial statements. Accounting numbers are generated by recording and summarizing an organization's monetary activities. Managers use accounting numbers to determine whether the company is performing effectively and to make sound decisions based on financial evidence.

It is essential for an organization to keep accurate records of its financial activities to generate accurate accounting numbers. These figures will provide a clear picture of the organization's financial position, allowing managers to make informed decisions.

A company's financial statements are susceptible to management manipulation because accounting numbers are based on estimates. The management team can manipulate financial statements to create the illusion of the company's good financial position.

As a result, auditors are needed to review financial statements to ensure they are free of misstatements and to establish the company's actual financial position.

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As of December 31, the amount of salary expense that needs to be accrued is $3,575. The account that is debited in the adjusting entry is Salary Expense account. The account that is credited in the adjusting entry is Salaries Payable account.

An adjusting entry is a journal entry made at the end of an accounting period to allocate income and expenditure to the period in which it occurred. These entries are created to modify the account balances so that the financial statements reflect accurate amounts. Adjusting entries are used to track revenues and expenses over the accounting period that they are incurred. They are also used to report on financial activities in the future.

In the given scenario, the total amount of salary expenses that need to be accrued as of December 31 is $3,575. The Salaries Payable account had no previous balance before this. Therefore, the Salary Expense account needs to be debited in the adjusting entry. Salaries Payable account needs to be credited in the adjusting entry.

Hence, based on the information provided, $3,575 needs to be accrued as of December 31 as salary expense. The account to be debited in the adjusting entry is Salaries Expense and the account to be credited in the adjusting entry is Salaries Payable.

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Gross Domestic Product, Unemployment rate and Consumer Price Index are indicators do economists use to determine the state of the economy.

Gross Domestic Product (GDP): GDP measures the total value of goods and services produced within a country over a specific period of time, usually a year or a quarter. It is considered one of the most important indicators of a country's economic health.

Unemployment rate: The unemployment rate measures the percentage of the labor force that is unemployed but actively seeking employment. High unemployment rates are generally indicative of a weak economy.

Consumer Price Index (CPI): The CPI is a measure of the average change in prices of goods and services consumed by households over time. It is used to track inflation and its impact on the economy.

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C.) the sale of a building in exchange for a parcel of land. The sale of a building in exchange for a parcel of land would be reported within the investing activities section of the cash flow statement.

What are the two key components of cash flow? The two key components of cash flow are cash inflows and cash outflows. These components indicate the amount of cash that is coming into and leaving the business, respectively.

Cash inflows are derived from the sale of goods or services, returns on investments, and other income sources.

Cash outflows are the expenses that a company must pay, such as wages, raw materials, and rent. There are three sections in the cash flow statement. These sections include operating activities, investing activities, and financing activities. The investing activities section includes transactions that involve the acquisition or sale of long-term assets, such as land, buildings, equipment, and securities.

The following transactions would be reported in the investing activities section of the cash flow statement:-

Purchases of property, plant, and equipment- Acquisitions of other businesses or subsidiaries- Sales of property, plant, and equipment- Purchases of investments- Sales of investments- Lending money and collecting principal repayments- Collecting payments from the issuance of loans- Purchase and sale of derivatives and hedging activities

Therefore, the sale of a building in exchange for a parcel of land would be reported within the investing activities section of the cash flow statement.

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When considering most goods in most markets we would likely observe that they are quasi-public goods.

A public good (also known as a social good or communal good) is a non-excludable and non-rivalrous good in economics. Users cannot be denied access to or use of such items for failing to pay for them. Therefore, usage by one individual neither inhibits nor reduces the availability of others.

As a result, the good can be utilised by more than one person at the same time.  This is in contrast to a non-excludable but somewhat rivalrous common good, such as wild fish populations in the ocean.

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The Stamping Department rate is  per direct labor hour and the Plating Department rate is $40 per machine hour.  Total factory overhead = $102,640. Total factory overhead = $57,760. Total factory overhead = $63,600  

1. To calculate the multiple production department factory overhead rates, we use the following formula: rate = total overhead ÷ total measure of activity.

Stamping Department rate = $120,000 ÷ 1,250 direct labor hours = $96 per direct labor hour

Plating Department rate = $104,000 ÷ 2,600 machine hours = $40 per machine hour

2. To calculate the product factory overhead costs, we multiply the rate with the measure of the activity of each product.

Automobile bumpers:
Stamping Department = $96 x 590 direct labor hours = $56,640
Plating Department = $40 x 1,150 machine hours = $46,000
Total factory overhead = $56,640 + $46,000 = $102,640

Valve covers:
Stamping Department = $96 x 310 direct labor hours = $29,760
Plating Department = $40 x 700 machine hours = $28,000
Total factory overhead = $29,760 + $28,000 = $57,760

Wheels:
Stamping Department = $96 x 350 direct labor hours = $33,600
Plating Department = $40 x 750 machine hours = $30,000
Total factory overhead = $33,600 + $30,000 = $63,600

Entry made on December 31, 2021, would be: Debit: Equity Investments $457,000 and Credit: Fair Value Adjustment $457,000. Entry made on December 31, 2021, would be: Debit: Equity Investments $30,000 and Credit: Fair Value Adjustment $30,000. Entry made on December 31, 2021, would be: Debit: Fair Value Adjustment $245,000 and Credit: Equity Investments $245,000.

When dealing with the equity investments, the fair value of the investment should be adjusted to its current value through net income at the end of each reporting period.

The adjusting entry involves debiting or crediting the difference between the fair value and the recorded value in the Equity Investments account and Fair Value Adjustment account, respectively.

The entries made on the three dates are as follows:

December 31, 2021: Debit: Equity Investments $457,000 and Credit: Fair Value Adjustment $457,000.

December 31, 2021: Debit: Equity Investments $30,000 and Credit: Fair Value Adjustment $30,000.

December 31, 2021: Debit: Fair Value Adjustment $245,000 and Credit: Equity Investments $245,000.

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An income statement is used for reporting financial performance over an accounting period.  The other two statements are cash flows and balance sheets.  

An income statement is also called a revenue and expense statement.  It mainly focuses on a company's revenues and expenses during a particular period.  It is an important part of a company's performance reports.

Under variable costing, Cool Sky’s Income Statement for the year would be as follows:

Revenue: 32,000 units x $110 = $3,520,000

Cost of Goods Sold: 32,000 units x ($42 + $16 + $5) = $1,440,000

Gross Profit: $3,520,000 - $1,440,000 = $2,080,000

Selling and Administrative Costs: 32,000 units x ($11 + $115,000) = $416,000

Net Income (Loss): $2,080,000 - $416,000 = $1,664,000

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When goods are shipped  FOB destination, title passes to the buyer when the carrier accepts goods from the seller. The answer is OPTION B

When the seller ships the product, the buyer acknowledges title to the goods and assumes full risk, which is known as FOB Origin or FOB Shipping Point. If the products are harmed or lost in transportation, the buyer is liable.  

Ownership of the products in a FOB shipping point arrangement passes from the seller to the buyer once they are delivered at the point of origin. Once the products arrive at the shipping site, the buyer assumes all responsibility for them throughout transportation. In contrast, if the destination is FOB, the seller is responsible for delivery. The answer is OPTION B

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The given statement, "Market basket analysis is a useful and entertaining way to explain data mining to a technologically less savvy audience, but it has little business significance," is false (F) because market basket analysis  has great business significance.

Market basket analysis is a data mining technique that examines shopping baskets to uncover relationships between the items customers purchase together, and it has great business significance. Market basket analysis is a useful and entertaining way to explain data mining to a technologically less savvy audience, but it has business significance.

Market Basket Analysis (MBA) is a data mining method that helps you find relationships between the items that people buy together. The procedure looks at customer transactions to discover patterns. Knowing what items people purchase together can assist stores in developing intelligent cross-selling techniques. This will aid in the maximization of profits.

MBA can assist a firm in identifying relationships among items that customers purchase. This provides additional product insights, which may lead to new product ideas or development. It aids in the design of new store layouts and the adjustment of existing ones. MBA may aid in the analysis of the effectiveness of specific marketing and promotional campaigns.

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Jaray is performing the role of "gatekeeper" as a member of the buying center.

Gatekeeper: A "gatekeeper" is a person or department in a business that controls the flow of information to others. The gatekeeper is in charge of keeping track of information about the services and goods provided by the company. They also monitor requests from customers and vendors.

Gatekeepers can be divided into three types:

1. Technical gatekeepers: They serve as a technical interface for people interested in purchasing the company's services or products. They work to understand the specifications and characteristics of the product, then assist clients in determining which products or services are best for them.

2. Economic gatekeepers: They are in charge of the company's pricing strategies. Economic gatekeepers ensure that the prices are competitive while also ensuring that the company earns a profit.

3. Purchasing gatekeepers: They are in charge of purchasing goods and services from the company. They collaborate with the technical and economic gatekeepers to ensure that the goods and services meet the company's standards.

In the given case, Jaray is performing the role of "gatekeeper" as a member of the buying center.

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Straight line depreciation is the most popular and easiest way of distributing a capital asset's cost. It is computed by dividing the cost of an item, minus its salvage value, by the asset's usable life.

Straight line depreciation is a popular method of reducing the value of a fixed asset over its useful life. It is used to minimise a fixed asset's carrying amount throughout its useful life. Straight line depreciation depreciates an asset's cost at the same rate for each accounting period.

Straight line depreciation is calculated as follows: Straight line depreciation = (cost of asset - estimated salvage value) x estimated useful life of an asset.

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