Answer:
The answers are,
Items not easily quantified in dollar terms are not reported in the financial statements.
Monetary Unit Assumption
Accounting information must be complete, neutral, and free from error.
Faithful representation
Personal transactions are not mixed with the company's transactions.
Entity Assumption
The cost to provide information should be weighed against the benefit that users will gain from having the information available.
Cost constraint
A company's use of the same accounting principles from year to year.
Consistency
Assets are recorded and reported at original purchase price.
Historical Cost
Accounting information should help users predict future events, and should confirm or correct prior expectations.
Relevance
The life of a business can be divided into artificial segments of time.
Periodicity assumption
The reporting of all information that would make a difference to financial statement users.
Full Disclosure principle
The judgment concerning whether an item's size makes it likely to influence a decision-maker.
Materiality
10. Assumes a business will remain in operation for the foreseeable future.
Going concern
12. Different companies use the same accounting principles
Comparability
Explanation:
Old school publishing inc. began printing operations on january 1. jobs 301 and 302 were completed during the month, and all costs applicable to them were recorded on the related cost sheets. jobs 303 and 304 are still in process at the end of the month, and all applicable costs except factory overhead have been recorded on the related cost sheets. in addition to the materials and labor charged directly to the jobs, $1,030 of indirect materials and $12,430 of indirect labor were used during the month. the cost sheets for the four jobs entering production during the month are as follows, in summary form:
Complete Question:
direct material 10,900
Direct Labor 8,900
Factory Overhead 5785
Total 25,585
Job 302
Direct Material 18,300
Direct Labor 17,700
Factory Overhead 11,505
Total 47505
Job 303
Direct Materials 26,000
Direct Labor 16,000
Factory Overhead -
Job 304
Direct Material 13700
Direct Labor 12300
Factory Overhead -
Required:
Journalize the Jan. 31 summary entries to record each of the following operations for January (one entry for each operation). Refer to the Chart of Accounts for exact wording of account titles.
A. Direct and indirect materials used.
B. Direct and indirect labor used.
C. Factory overhead applied to all four jobs (a single overhead rate is used based on direct labor cost).
D. Completion of Jobs 301 and 302.
Solution:
S No. Particulars Debit ($) Credit ($)
A. Work in process 68900
Material inventory 68900
(10900+18300+26000+13700)
(Direct materials used)
Factory overhead 1030
Material inventory 1030
(Indirect materials used)
B. Work in process 54900
Wages payable 54900
(8900+17700+16000+12300)
(Direct labor used)
Manufacturing overhead 12430
Wages payable 12430
(Indirect labor used)
C. Work-in-process 35685
Manufacturing overhead 35685
(Note:1)
(Factory overhead applied)
D. Finished goods 73090
Work-in-process 73090
(Total cost of Job 301 & 302)
(25585+47505)
(Completion of Jobs 301&302)
Notes:
1 Consider Job 301
Direct labor=8900
Factory overhead=5785
Factory overhead as a % of direct labor =(5785/8900)*100 = 65%
Total direct labor cost for all four jobs= 54900
Factory overhead=54900*65%
=35685
The business scenario discusses the method of job costing, in which both direct and indirect costs are allocated to individual jobs. Direct costs are allocated directly, while indirect costs need to be spread among all jobs based on a fair method, such as labour or machine hours.
Explanation:The subject question pertains to Job Costing in business accounting, a method used to accumulate costs of individual jobs. To calculate the costs of Jobs 301 and 302, we need to take into account the direct and indirect costs mentioned and assign them to these jobs. Direct costs are those that can be directly assigned to a job, like labor or materials used specifically for that job. Indirect costs, on the other hand, such as indirect materials and labor, rent and utilities, are costs that are not incurred for a specific job but for the business as a whole. These should be allocated among all jobs.
In the given scenario, Jobs 301 and 302 have finished, while 303 and 304 are unfinished. All costs except factory overhead (presumably including the indirect materials and labour) have been noted down. The overhead costs ($1,030 and $12,430) need to be allocated to these jobs on some equitable basis, possibly based on labour or machine hours used per job. To find the total cost for each job, the allocated share of overhead costs should be added to the initial costs. The result would be the job costs for each job.
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. A company that manufactures soaps could not sell its products despite spending a good amount on advertisements. Therefore, management decided to use the concept of direct marketing. They thought of appointing a large number of salespersons who would do door-to-door selling of the product. This is an example of a strategic:
Answer:
strategic plan
Explanation:
Strategic plan is a tool used by an organization in strategic planning to ensure the mission and vision of the organization are achieved, which involves implementing, formulation, defining and redefining of strategies as well as deciding how resources are allocated in taking action steps in effecting changes. A strategic plan helps a company to make decisions and also in evaluating the progress of a company. It helps the company in meeting its goals and objectives.
Barter is a. illegal in the United States. b. an efficient system of exchange. most useful when there is much specialization and international trade. d. only possible if money is used as a e. the direct exchange of goods without the use of money. c. medium of exchange
Answer:
the direct exchange of goods without the use of money
Explanation:
Trade by barter is the exchange of goods for goods. Money isn't used in a barter system.
Trade by barter has some inefficiencies such as double coincidence of wants, lack of standard unit of account etc
I hope my answer helps you
Julio purchased a stock one year ago for $27. The stock is now worth $32, and the total return to Julio for owning the stock was 37 percent. What is the dollar amount of dividends that he received for owning the stock during the year? (Round your final answer to nearest whole dollar.)
Answer:
$5
Explanation:
Data provided are as follows
Purchase price of stock one year ago = $27
Now stock price= $32
Total return percentage = 37%
So, The computation of the dollar amount of dividend is:
= Purchase price of stock one year ago × Total return percentage - difference in stock price
= $27 × 37% - $5
= $10 - $5
= $5
The difference would be
= $32 - $27
= $5
Just For Me is a line of hair care products for pre-teenage girls, that is, girls between the ages of eight and twelve. This is the age when many young girls start to care about their looks and want to make their own decisions regarding their grooming. The manufacturer of this brand decided to use television advertising to inform and persuade girls about this line of products. Taylor Swift, a singer and actress who is popular with the target market, appears in the Just For Me commercial claiming the benefits of the product. Swift is well liked, respected, and believable to this target market. The ads are very successful. What is the most likely reason for the success of this campaign
Dennis is always the most organized member of his group. He frequently
encourages the group to plan ahead. He develops lengthy "To Do" lists of tasks
for the group to follow. Which Myers-Briggs personality trait best describes
Dennis?
a. sensor
b. judger
c. intuitive
d. perceiver
e. thinker
Answer:
B. Judger
Explanation:
The Myers-Briggs personality trait describes the Judger as people who are coordinated and have a structured way of carrying out tasks and achieving their objectives. They are mostly organised and structured in their lifestyles.
Therefore, the attributes noted in Dennis, best describes him as a Judger according to Myers-Briggs personality trait
Indicate with a Yes or No whether or not each of the following accounts normally requires an adjusting entry: a. Building b. Cash c. Wages Expense d. Miscellaneous Expense e. Nancy Palmer, Capital f. Prepaid Insurance
Answer:
A) No.
B) No.
C) Yes.
D) No.
E) No.
F) Yes.
Explanation:
A) Since, building is an asset which doesn't require any adjusting entry other than depreciation.
B) Asset as well therefore, no adjusting entry required.
C) It requires adjusting entry when the salaries are payable (You haven't paid yet, but you have to pay).
D) These are the small transactions of business which doesn't require an adjusting entry.
E) Capital stock increases with the increase of shares and vice versa so it doesn't require Adjusting entry as well.
F) It requires adjusting entry because you have paid for the service before availing it.
Items such as $50 in traveler's checks, $1 in quarters, and $1200 in a checking account are components of M1, which includes forms of money readily available for transactions. The $2000 in a money market account is included in M2, encompassing M1 and other near-monies. A $5,000 line of credit does not fall into either category as it represents potential borrowing, not money in circulation.
Explanation:When categorizing the following list of items into M1, M2, or neither, it is essential to understand that M1 and M2 are components of the money supply. M1 includes forms of money commonly used for payment, such as cash and checking account balances, while M2 includes M1 plus savings accounts, money market accounts, and other near-monies.
Your $5,000 line of credit on your Bank of America card - Neither (This is a form of credit, not actual money in circulation.)$50 dollars' worth of traveler's checks you have not used yet - M1 (Traveler's checks are considered a part of M1 as they are readily usable for making payments.)$1 in quarters in your pocket - M1 (This is cash, which is part of M1.)$1200 in your checking account - M1 (Funds in checking accounts are a component of M1.)$2000 you have in a money market account - M2 (Money in money market accounts is included in M2, since it's not as liquid as the components of M1.)Learn more about Money Supply Classification here:https://brainly.com/question/32701356
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Jackson Company had a net increase in cash from operating activities of $10,000 and a net decrease in cash from financing activities of $2,000. If the beginning and ending cash balances for the company were $4,000 and $11,000, then net cash change from investing activities was_____________.A. an outflow or decrease of $1,000. B. an inflow or increase of $2,000.C. an inflow or increase of $1,000.D. zero.
Answer:
A. an outflow or decrease of $1,000.
Explanation:
Ending balance of cash = Opening balance of cash + Net cash flow of the period
Ending balance of cash = Opening balance of cash + ( Cash flow from operating activities + cash flow from investing activities + cash flow from financing activities )
$11,000 = $4,000 + $10,000 + cash flow from investing activities - $2,000
$11,000 = $12,000 + cash flow from investing activities
Cash flow from investing activities = $11,000 - $12,000
Cash flow from investing activities = -$1,000
Consumer surplus is A. the difference between the highest price a consumer is willing to pay and the price the consumer actually pays. B. the difference between the highest price a consumer is willing to pay and the lowest price a firm would be willing to accept. C. the highest price a consumer is willing to pay to consume a good or service. D. the difference between the highest price a consumer is willing to pay and marginal benefit. E. the difference between the lowest price a firm would be willing to accept and the price it actually receives. How does consumer surplus change as the equilibrium price of a good rises or falls? As the price of a good rises, consumer surplus ▼ remains unchanged decreases increases , and as the price of a good falls, consumer surplus ▼ increases decreases remains unchanged .
Answer is A
Explanation: Consumer surplus actually happens when a customer is willing and ready to pay for a particular product than its current market price. It is a measure of the additional benefits a consumer gets after paying for a product even though they are willing to pay more.
For example: Let's assume you want to get a IPhone 8 plus and you value it at $800 dollars, which you are ready to pay, but realise it is sold at $700. When you buy it at $700, the customer surplus is $100, that is a difference between how much you were willing to pay and the price you eventually got it.
Consumer Surplus changes as the equilibrium price of a good rises or falls. If the price of a good rises, the consumer surplus decreases but when the price of the good falls, the consumer surplus increases.
The marketing activity that involves planning, implementing, and controlling the physical flow of materials, final goods, and related information from points of origin to points of consumption to meet customer requirements at a profit.A.TrueB.False
Answer:
Marketing logistics (True)
Explanation:
The process which involves all the stages of a product or material is known as marketing logistics. Marketing logistics process involves ordering the raw material for the product, processing the product, operational stages and then delivering the products to the end-user. These steps are involved in marketing logistics. So, marketing logistics is a critical part of any organisation or a firm.
Sumner sold equipment that it uses in its business for $30,800. Sumner bought the equipment a few years ago for $79,600 and has claimed $39,800 of depreciation expense. Assuming that this is Sumner's only disposition during the year, what is the amount and character of Sumner's gain or loss?
Answer:
The correct answer is loss of $9,000 and section 1231.
Explanation:
According to the scenario, the given data are as follows:
Purchase amount of equipment = $79,600
Depreciation expense = $39,800
Sold value = $30,800
So, to calculate the amount of gain or loss we use the following formula:
Gain or loss = Sold value - ( purchase value - depreciation expense)
= $30,800 - ( $79,600 - $ 39,800 )
= $30,800 - 39,800
= -$9,000
As the value is in negative, it shows loss.
Hence, It shows the loss of $9,000 under section 1231.
"The average monthly rent for a two-bedroom apartment in City A is $820 with a standard deviation of $86. The average monthly rent for a two-bedroom apartment in City B is $790 with a standard deviation of $75. Based on this data, we can conclude that the rent for two-bedroom apartments in City A is more consistent when compared to City B." Ture/false
Answer:
Explanation:
We shall apply the concept of coefficient of variation to know the consistency of data
coefficient of variation
= standard deviation / mean or average
In case of City A
coefficient of variation = 86 / 820
= .1048
In case of City B
coefficient of variation = 75 / 790
= .0949
Since it is less for city B , rent for this city is more consistence or with less of variation
So the conclusion is false.
City B has more consistent rental prices for two-bedroom apartments because it has a lower standard deviation of $75 compared to City A's standard deviation of $86.
Explanation:The statement that the rent for two-bedroom apartments in City A is more consistent when compared to City B is false. When comparing two sets of data, we look at the standard deviation to determine which set has more consistent data. In this instance, the standard deviation for City A is $86 and the standard deviation for City B is $75. The lower the standard deviation, the more consistent the data. Therefore, City B has more consistent rental prices for two-bedroom apartments because it has a lower standard deviation.
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With an emphasis on the rapidly changing business landscape, which organizational culture can be beneficial in requiring adaptability?
Answer:
Learning culture
Explanation:
A learning culture in an organization is one that involves the employees being subjected to different types of training on a regular basis, by the organization to update their knowledge and keep up with changes in the business environment.
An organizational culture that can be beneficial in requiring adaptability are agile, learning, and customer-centric cultures.
Explanation:Adaptability is a crucial skill in the rapidly changing business landscape, and an organizational culture that promotes and requires adaptability can be highly beneficial. One such culture is an agile culture. In an agile culture, employees are encouraged to be flexible, responsive to change, and willing to quickly adapt their strategies and approaches.
Another organizational culture that can promote adaptability is a learning culture. In a learning culture, there is a strong emphasis on continuous learning and improvement. Employees are encouraged to acquire new skills, stay updated with industry trends, and adapt their workflows based on new information and insights.
Lastly, a customer-centric culture can also foster adaptability. In a customer-centric culture, the focus is on meeting the evolving needs and expectations of customers. This requires organizations to be flexible, innovative, and responsive to market changes to ensure customer satisfaction and maintain a competitive edge.
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Without trade, the farmer produced and consumed 2 pounds of pork and 4 pounds of tomatoes and the rancher produced and consumed 4 pounds of pork and 2 pounds of tomatoes. then, each person agreed to specialize in the production of the good in which he has a comparative advantage and trade 4 pounds of pork for 6 pounds of tomatoes. as a result,
Answer:
the farmer gained 6 hours worth of production and the rancher gained 8 hours worth of production.
Explanation:
Labor Hours to Make 1 lb. of lbs. Produced in 24 Hours
Pork Tomatoes Pork Tomatoes
Farmer 6 3 4 8
Rancher 4 4 6 6
If both decide to specialize in producing only one good, the farmer will produce 8 pounds of tomatoes per day and the rancher will produce 6 pounds of pork per day.
This way when the rancher trades 4 pounds of pork in exchange for 6 pounds of tomatoes, he is gaining 2 pounds of pork which is equivalent to 8 labor hours.
When the rancher trades 6 pounds of tomatoes in exchange for 4 pounds of pork, he is gaining 2 pounds of tomatoes which is equivalent to 6 labor hours.
Final answer:
The student's question is focused on how specialization and trade, based on comparative advantages, improve production and consumption for individuals or countries. By producing what they are relatively better at and trading for other goods, all involved parties can benefit and consume more than they would without trade.
Explanation:
The student's question is about the impact of specialization and trade on the production and consumption patterns of two hypothetical individuals, a farmer and a rancher. Prior to trade, each produced and consumed a combination of pork and tomatoes. After agreeing to trade, each individual specialized in producing the good for which they had a comparative advantage. As a result of this specialization and the subsequent trade, both individuals were able to consume more than they could without trading. The example illustrates how trade can lead to an increase in consumption for both parties when they specialize according to their comparative advantages.
The surplus in world production mentioned suggests an increase in total output as a result of specialization and trade. For instance, when two countries specialize based on their comparative advantages and then trade, such as in the cases of France and the United States with cheese and wine, Mexico and the United States with shoes and refrigerators, or the hypothetical farmers with apples and oranges, they are all able to consume more than they could in autarky, which is the economic situation where each entity produces everything it consumes without engaging in trade.
This process not only applies to individual traders but also extends to international trade between countries, where the production possibilities frontier can shift outward, indicating the potential for greater production and consumption levels.
The U.S. retail industry___________.A. Has the lowest concentration of large firms.B. Has the greatest retail density in the world.C. Mostly has small stores operating independently.D. Depends on a single large wholesale industry.E. Consists of a fragmented distribution system.
Answer:
a. has the lowest concentraion of large firms
Explanation:
Answer:
A) Has the lowest concentration of large firms.
Explanation:
Before Amazon existed, some retail chains were very big, specially large department stores (e.g. JC Penny, Sears, Macy's, Toys R Us, etc.) but most of these large corporations have reduced their number of stores and many are barely surviving. But even then. the number of large retail chains, including supermarkets and grocery stores, was relatively small compared to the total number of retail stores. Walmart is currently the largest retailer (previously it was Sears), but the vast majority of retail stores (98%) are small businesses, usually run by families.
Paragraph Styles Rolling Coast Inc. issued BBB bonds two years ago. These bonds provided a yield to maturity (YTM) of 11.5 percent. Long-term risk-free government bonds were yielding 8.7 percent at the time. The current risk premium on BBB bonds versus government bonds is half of what it was two years ago. If the risk- free long-term government bonds are currently yielding 7.8 percent, then at what interest rate should Rolling Coast expect to issue new bonds? Group of answer choices 7.8% 8.79 9.2% 10.2% 12.9%
Answer:
Explanation:
The risk premium two years back = 11.5 - 8.7 = 2.8 %
current risk premium = 2.8/2 = 1.4%
Current risk free bond yields 7.8 %
So Rolling Coast expected rate of interest on bonds = 7.8 + 1.4
= 9.2 %
Trisha is appointed as the new CEO of an automobile manufacturing company. She decides to introduce a new set of organizational policies to improve company-wide performance. According to the new policies, all employees and managers are required to be present at their desks for a minimum of eight hours each day and submit a report of all the tasks they perform through the day. In this scenario, Trisha is most likely using _____.
Answer: Behavioral addition
Explanation:
The behavioral addition is one of the process that helps in understand the behavior of an organization in terms of performance, change in the policies and productivity the firm.
It is also refers to the process performing the new behavior in an organization by the employees or the manager.
According to the given question, Trisha is the new CEO of the manufacturing firm and she introducing the various types of new policies for the purpose of improving the performance of the company.
Therefore, Trisha is using the behavioral addition for illustrating the given scenario.
The more you can do, the more is expected of you." Josh already had his hands full managing just one of his father's retail stores. He didn't doubt his ability to do well managing an entire region but still he was reluctant to accept the assignment. He is likely afraid of:_______________
Answer:
SUCCESS
Explanation:
Josh is likely afraid of: Success
Because of his success managing one of his father's retail store, he sure would feel there's every possibility of his success in future management position.
The Federal personal income tax is:_______
a) proportional, and the incident is on the taxpayer
b) average, and the incident is on the consumer
c) regressive, and the incident is on the taxpayer
d) progressive, and the incident is on the taxpayer
Answer:
D. Progressive and the incident is on the tax payer
Explanation:
The federal personal income tax is a progressive tax because the tax increases as the income of the individual increases.
A progressive tax system is where higher tax rate falls on high income earners and lower tax rate on low income earners. The incident of personal income tax is on the tax payers because they the burden of paying the tax is borne by them.
Calculate the finance charge and new balance using the three methods presented. the account balance on september 1st is $149.99. on september 9th a payment of $50.00 is made. monthly rate = 1.75% date payments purchases balance number of days product/sum 9/1 - 9/8 $149.99 8 $1,199.92 9/9 $50.00 $99.99 1 $99.99 9/10 - 9/16 $99.99 21 $2,099.79 total 30 $3,399.70 previous balance method: finance charge = $. new balance = $. unpaid balance method: unpaid balance = $. finance charge = $. new balance = $. average daily balance method: average daily balance = $. finance charge = $. new balance = $
The three different methods of financial calculations give three different results. The previous balance method results in a new balance of $102.61, the unpaid balance method in $101.74 and the average daily balance method in $115.30.
Explanation:The instruction involve three different methods of financial calculations: the previous balance method, the unpaid balance method, and the average daily balance method. Let's start with the previous balance method. The finance charge is calculated on the balance at the beginning of the billing cycle i.e., $149.99. The finance charge would then be 1.75% of $149.99 which equals approximately $2.62.
Subtract the payment of $50 before applying the finance charge for the new balance. Thus, new balance under this method would be $149.99 minus $50 plus $2.62 resulting in $102.61.
For the unpaid balance method, which is calculated on the balance remaining after payments have been made from the balance at the start of the billing cycle. The unpaid balance is $99.99 ($149.99 minus $50). The finance charge would be 1.75% of $99.99 equaling approximately $1.75. The new balance under this method would be $99.99 plus $1.75 giving $101.74.
Finally, the average daily balance method calculates the finance charge on varying balance throughout the billing cycle. Here the balance is multiplied by the number of days in the billing cycle before the payments are subtracted and divided by the total number of days in the cycle (30 as per the information given): ($3,399.70)/30 = $113.32.
The finance charge would be 1.75% of $113.32 equaling approximately $1.98. The new balance under this method would be $113.32 plus $1.98 giving an approximate total of $115.30.
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The management of Blue Ocean Company estimates that 50,000 machine-hours will be required to support the production planned for the year. It also estimates $300,000 of total fixed manufacturing overhead cost for the coming year and $4 of variable manufacturing overhead cost per machine-hour. What is the predetermined overhead rate? $10.00 per machine-hour $12.50 per machine-hour $8.00 per machine-hour $6.00 per machine-hour
Answer:
$6.00 per machine-hour
Explanation:
Total estimated manufacturing overhead = $300,000
Estimated machine hours = 50,000 hours
Predetermined overhead rate = Total estimated manufacturing overhead / Estimated machine hours
Predetermined overhead rate = $300,000 / 50,000 machine hours
Predetermined overhead rate = $6 per machine hour
So, The correct asnwer is $6.00 per machine-hour.
Answer:
$10 per MH
Explanation:
Estimated total overhead cost = $300,000 + ($4 per MH × 50,000 MHs) = $500,000
Predetermined overhead rate = Estimated total overhead cost of $500,000 ÷ 50,000 MHs = $10 per MH
The manager at East End Burgers regularly speaks with customers to find out what improvements they might suggest to the product and service. The manager is determining if his ________ of what his customers like is accurate.
Answer:
knowledge
Explanation:
When it comes to marketing products, the manager plays a vital role. In order to reach out to customers, he can talk to them regularly whether they like the product and service. He can also ask if they have any suggestions for improvements.
The product and service are seen by the target audience's eyes thus, it is essential that the manager asks them for feedback. This will allow him to determine whether his knowledge on what his customers like is accurate or true. It will also aid him in creating efficient marketing strategies.
Bend Company’s December 31, 2020 balance sheet reports assets of $13,210,000 and liabilities of $4,275,000. The book values of Bend’s assets approximate their fair values, except for land, which has a fair value $600,000 greater than its book value. On December 31, 2020, Blue Corporation paid $11,775,000 to acquire Bend. What amount of goodwill should Blue record as a result of this purchase?
Answer:
Blue should record $2,240,000 of goodwill as a result of this purchase.
Explanation:
Fair value of Assets = $13,210,000 + $600,000 = $13810,000
Liabilities = $4,275,000
Net Asset = Total fair value of asset – Total Liabilities
Net Assets = $13,810,000 – $4,275,000 = $9,535,000
Goodwill = Acquisition price – Net Assets
Goodwill = $11,775,000 - $9,535,000 = $2,240,000
Blue should record $2,240,000 of goodwill as a result of this purchase.
A person has decided to construct a frequency distribution for a set of data containing 60 numbers. The lowest number is 23 and the highest number is 68. If 7 classes are used, the class width should be approximately _______.a) 5b) 7c) 9d) 11e) 12
Answer: The correct answer is b) 7
Explanation: Class width refers to the difference between highest and lowest number divided by the number of classes.
In calculating class width, the range of the frequency distribution is first calculated before it is divided by the number of classes.
Therefore, Range = Highest number - Lowest number = 68 - 23 = 45
Class width = Range / Number of classes
= 45 / 7
= 6.428
In rounding up to the nearest whole number it becomes 7.
To construct a frequency distribution with 7 classes for a data set from 23 to 68, the class width should be approximately 7
Explanation:To determine the approximate class width for a frequency distribution, one must subtract the lowest number from the highest number, then divide the resultant by the number of classes. In this case, the lowest number is 23 and the highest number is 68. Therefore, the range of the data set is 68 - 23 = 45.
Then divide this value by the number of classes, which is seven here. So, 45 / 7 = 6.43, which we round up to the nearest whole number to make sure all values are included, resulting in a class width of approximately 7.
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St. Jude Medical makes cardiovascular medical devices, including the world's most widely used mechanical heart valve. Its products include tissue heart valves, pacemakers, and implantable cardiovascular defibrillators. St. Jude's innovation in cardiac devices helps it outperform rivals, and thus provides it with
A Competitive advantage T/F
Answer:TRUE
Explanation: Competitive advantage is a term used in business or economics to refer to Opportunity gained by a business organization over others either through REDUCED PRICE,BETTER QUALITY OF PRODUCT OR SERVICE,THROUGH ECONOMIES OF SCALE, THROUGH INNOVATION etc an organization with a good Competitive advantage will generate more Revenue compared to others. Competitive advantage helps to make an organization better than others.
Answer:
Competitive Advantage
Explanation:
A competitive advantage refers to a condition that allows a company (e.g. St. Jude Medical) to offer better products than the competition at the same price, or offer similar products at a lower price.
In this specific case, St. Jude Medical is able to sell better products (mechanical heart valves, tissue heart valves, pacemakers, and implantable cardiovascular defibrillators) at similar prices than its competitors.
If a company offers a better product at a higher price, they do not have any type of competitive advantage. Competitive advantages result from higher efficiency and lower opportunity costs.
In many cases, companies that enter a market after innovative products have been introduced can achieve long-term competitive advantages by continuing to develop a better mousetrap. For example, VisiCalc was the first company to introduce a desktop spreadsheet program, but Lotus Notes cornered a large market share when it introduced the 1-2-3 program. Today, however, Microsoft’s Excel is the dominant spreadsheet software program and has continued to endure due to the popularity of the Microsoft Office Suite of products. VisiCalc possessed a ___________ advantage while Microsoft enjoyed a ___________ advantage.
Answer:
First-mover
Second-mover
Explanation:
A first mover is a provider of product, that achieves a market advantage by being the first type of product to be marketed. Generally, being gets the first firm in the market to get the advantage of the strong market and customer satisfaction.
The "second mover's advantage" is the value of joining others into a business or imitating an old product that a new innovative company gets.
In this case VisiCalc is a First-mover and Microsoft is a Second-mover.
Jonathan is in the process of refinancing his home loan. Due to the lowering of interest rates and Jonathan's credit score improvement, he has been able to secure a conventional loan with an excellent annual percentage rate. Unfortunately, his current loan contract contains a stipulation that if he repays the loan before three years, he will owe the lender a fee of two percent of the loan balance. Which clause applies to Jonathan's situation?
A) Subordination Clause
B) Subrogation
C) Prepayment Penalty Clause
D) Alienation Clause
Answer:
The correct answer is letter "C": Prepayment Penalty Clause.
Explanation:
The Prepayment Penalty Clause serves as collateral for lenders when borrowers pay off the sum of debt before agreed. Even though the debt would be totally paid, financial institutions lose profits in interest rates. Then, the Prepayment Penalty Clause states a fee -usually a percentage- should be paid in case the lender finishes to pay the debt before what was signed in a loan.
During the year, Cathy received the following:_______.
A) Dividends of $4,000 from Lindsay Corporation. Cathy's father owns the stock and directed the corporation to send the dividends to Cathy.
B) A car worth $30,000 for being the 1,000th customer at a car dealership.
C) $5,500 cash gift from her uncle.
D) $10,000 inheritance from her grandmother.
Answer: During the year, Cathy received the following: A) $30,000
How is the Environmental Protection Agency (EPA) organized?
Answer:
Environment Protection Agency is the federal authority that is established to preserve, conserve, protect and promote the environment. Specially in matters related to industrialcriviteis and Commerce.
EPA is the monitoring and regulating body of businesses and how their business activities affect the environment. If EPA is not satisfied with any business they can temporary halt the activities and proceed to take legal actions.
Explanation:
When preparing a representative sample from a list of 200 customers who complained about errors in their statements, a _____ could ensure the sample is balanced geographically by selecting five customers from each of four zip codes.
A• Random sample
B• Comprehensive Sample
C• Stratified sample
D• Systematic sample
Answer:
C. Stratified sample
Explanation:
Stratified sample -
It is the method of sampling , where the distribution of the samples are done on the basis of certain partition in the complete population , is referred to as stratified sampling .
The distribution can be done on the basis of the geographical area or conditions , as the division makes the sampling method fast and efficient .
Hence , from the given scenario of the question ,
The correct option is C. Stratified sample .
The correct sampling method for a sample that is balanced geographically is a stratified sample. Cluster sampling and systematic sampling are other types of sampling methods used in different scenarios.
Explanation:When preparing a representative sample from a list of 200 customers who complained about errors in their statements, a stratified sample could ensure the sample is balanced geographically by selecting five customers from each of four zip codes. This method divides the population into smaller groups, or strata, based on shared characteristics - in this case, geographic location. Each stratum is then sampled proportionally, ensuring that all groups are represented in the final sample.
In the department store employee satisfaction survey example, selecting four departments at random and interviewing all employees in those departments is an example of cluster sampling. Here, entire groups, or clusters, are randomly selected, and all members within those selected clusters are included in the sample.
Similarly, if a health club wanted to understand member usage and decided to ask every tenth customer on a specified day to complete a survey, this would be an example of systematic sampling. In this method, members of the population are selected at regular intervals to form the sample.