briefly explain what is meant by the term efficiency continuum
Answers
Efficiency continuum refers to the concept of achieving the maximum level of productivity and efficiency within a given process or system.
This continuum encompasses a range of different approaches and techniques that can be used to optimize performance and minimize waste or inefficiency. At one end of the continuum, there are highly manual and labor-intensive processes, which require significant amounts of time and effort to complete. At the other end, there are highly automated and streamlined processes that can be completed quickly and with minimal input from human workers. The key to achieving optimal efficiency on the continuum is to carefully analyze the specific requirements and constraints of each process and to identify the most appropriate tools and techniques for improving performance. By continually evaluating and refining processes over time, it is possible to move closer to the ideal of total efficiency and productivity.
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Related Questions
Which process for making a selection decision involves a very high score on one type of assessment making up for a low score on another?.
Answers
The process for making a selection decision that involves a very high score on one type of assessment making up for a low score on another is called compensatory model.
What is the compensatory model?The compensatory model is a decision-making process that involves taking into account various factors, including strengths and weaknesses, when making a decision. It is a selection method that allows candidates with weak areas in one area to compensate for it with strong results in another. In other words, a high score in one area can compensate for a low score in another.
What are the advantages of the compensatory model?The following are some of the advantages of the compensatory model: It can be used to select candidates for positions that require a wide range of skills and abilities. It is more objective than other selection models since it considers a variety of factors in the decision-making process. It encourages candidates to excel in all areas rather than focusing on specific areas of strength.
What are the disadvantages of the compensatory model?The following are some of the disadvantages of the compensatory model: It can be difficult to compare candidates who score differently on each assessment component. There is a danger of relying too heavily on one or two assessment components, thereby ignoring the candidate's overall ability and suitability for the position. It can be time-consuming and difficult to administer.
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what is a business plan
Answers
Answer:
A business plan is a written document that describes in detail how a business usually a startup may defines its objectives and how it is to go about achieving its goals.
Answer:
According to Wikipedia, A business plan is a formal written document containing the goals of a business, the methods for attaining those goals, and the time-frame for the achievement of the goals.
True or false: The cost of land owned by a business is recorded in the Land account and this account is classified as an expense.
Answers
Answer: False
Explanation: The reason to this statement being false is because land is an asset account.
Its is true that the cost of land owned by a business is recorded in the Land account and this account is classified as an expense.
What is an expense?An expense is referred to as the operating cost or capital of a business. It is all the money spent in the production process. It is recorded in the income statement.
This includes the cost of purchasing land used for the business.
Therefore, the cost of land owned by a business is recorded in the Land account and this account is classified as an expense.
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When the Fed buys federal government securities on the open market from commercial banks, then, over time, the:
Answers
Increases the reserves of commercial banks.
Open market is one of the monetary policies of the federal government to regulate the supply of money in an economy.
When the Fed buys federal government securities on the open market from commercial banks, the reserves of commercial banks increases thereby enabling banks to have more funds to grant loans and investments.
Fed buying federal government securities such as government bond, adds money to the system, making loans easier to obtain and interest rates decline.
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Field underwriting performed by the producer involves
A) assigning a risk classification to be insured
B) providing commission information to the applicant
C) approving or declining an applicant
D) completing the application and collecting initial premium
Answers
Field underwriting performed by the producer involves completing the application and collecting initial premium. hence, option (D) will be regarded as a relevant option choice.
Give a brief account on Field underwriting.The first assessment an insurance agent or producer makes about a potential client's ability to meet the underwriting requirements of the insurer is known as "field underwriting." After first assessing the item or person, the agent makes a decision. A insurance advisor has many different responsibilities. On the one hand, they defend their clients' best interests, give advice about the coverage they need, explain the terms of the policy, and eventually help their clients find the coverage that is best suited to their needs and financial situation.
An insurance advisor, on the other hand, simultaneously represents the best interests of the insurance company. The advisor's job in this role include performing some field underwriting as well as effectively reporting the risks to the insurer.
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a store at the mall having a minimum age requirement for workers is an example of which category of employee rights?
A. employee polygraph protection
B. workers compensation
C. workplace safety and health
D. wages and hours
Answers
Answer:D
Explanation:
I believe !
An example of a category of employee rights is a store in a mall that has a minimum age restriction for employees. Another example is salaries and hours. Hence option D is correct.
What rights do workers have?You won't experience bullying or unjust treatment because of your race, colour, religion, sexual orientation, gender identity, national origin, handicap, age, or genetic information. Equal payment is made for comparable effort.
The Act establishes and makes clear three rights for employees: a "right to know" about the risks associated with their employment, a right to report workplace hazards to OSHA, and a right to protection against reprisals for exercising OSHA-protected rights.
Elimination of all forms of child labour, effective outlawing of forced or involuntary labour, and the abolition of discri mination based on unjust treatment employment and occupation, the right to associational freedom, and.
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“The needs of a society conflict with the goals of the financial services industry’s desire to make a profit.” Do you agree or disagree?
Answers
Answer:
I do not agree that "the needs of a society conflict with the goals of the financial services industry's desire to make a profit", but on the contrary, I consider that the economic objectives of the financial system contribute to the well-being of the individuals that make up society, with which they satisfy the needs of this in an indirect way.
I believe this because the financial system, through its will to profit, creates jobs and economic opportunities for individuals, who would otherwise be forced to meet their needs without the help of a system designed to profit as a result of work done (such as communism).
To examine
the weekly payroll of all employees, one would look at the:
Answers
To examine the weekly payroll of all employees, one would look at the: d. payroll register.
What is the payroll register?The payroll register is a book or record that is used to fill in the details of all the employees and their payment logs. A record of this register is often kept in good condition in case of any future discrepancies that will have to be resolved.
A person who wants to examine the weekly payroll of all employees in an organization must be able to look at the payroll register to know what is obtainable. There, he would find the names of the employees, their job roles and payment record.
Options:
a. W-4
b. employee earnings record
c. W-2
d. payroll register.
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Riskier investments can yield higher returns:
A) but, are generally less expensive
B)but, generally experience steeper downturns
C) so, you should invest all your money in high risk stocks
D) none of the above
Answers
The Riskier investments can yield higher returns, Because They put your money at higher risk. This means that if things go well, high-risk investments can produce high returns.
What is the investment?Investment is the ceremonial of money to purchase an asset to attain an increase in value over a time period of time. Investment requires a sacrifice of some present quality, such as time, medium of exchange, or effort. In finance, the purpose of investing is to generate a return from the invested asset.
The risk investment may offer the chance of higher returns than other investments might produce, but they put your money at higher risk. This means that if things go well, high-risk investments can produce high returns. But if things go badly, you could lose all of the money you invested.
Therefore, Thus option (D) is correct.
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Lopez Corporation, a manufacturer of household paints, is preparing annual financial statements at December 31, 2007. Because of a recently proven health hazard in one of its paints, the government has clearly indicated its intention of having Lopez recall all cans of this paint sold in the last six months. The management of Lopez estimates that this recall would cost $800,000.
Requried:
What accounting recognition, if any, should be accorded this situation?
Answers
The accounting recognition to be accorded in this situation is operating expense of $800,000 and liability of $800,000.
Basically, an accounting recognition refers to the act of recording a business transaction in the firm's accounting records.
Because the management of Lopez estimates that this recall of all cans of paint sold in the last six months would cost $800,000, then, the entry will be as followsIn conclusion, the accounting recognition to be accorded in this situation is operating expense of $800,000 and liability of $800,000
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Which of the following is a benefit of a bank?
A. You can get your cash quickly and easily.
B. A bank is insured by the federal deposit insurance corporation
C. You assets are safe from theft, loss, and fires
D. All the above
Answers
Answer:
D
Explanation:
Answer:
D. All the above
Explanation:
Which of these groups of workers is not a part of Handy's Shamrock organization?
#1 Outsourced workers
#2 Flexible workers
#3 Senior management
#4 Core staff
Answers
Answer:
#1 Outsourced workers
Explanation:
Outsourced workers are not employees of Handy's Shamrock organization. They are workers who have been contracted by Handy Shamrock to carry out specific functions.
In most cases, outsources workers are employed by a company that specializes in certain tasks. For example, Handy Shamrock may need cleaning workers. Instead of hiring cleaners, they may contract a cleaning company to do the job for them. The cleaning company workers that will be cleaning at Handy Shamrock will be outsourced workers.
Short-Run Cost The maker of computer memory chips has the following short-run production schedule below (columns A and B). Assume fixed cost is $7000, while the cost of a unit of the variable input, labor hours, is $85. Do the following: Part 1 (Table and Questions): Complete the table and answer questions below the table. Part 2 (Scenarios): Answer the questions based on the described scenarios. Part 1: 1a. Production/Cost Table: Labor Hours Total Product Marginal Product Total Fixed Cost Total Variable Cost Total Cost 0 0 ----------- 1 846 2 2388 3 4482 4 6984 5 9750 6 12636 7 15498 8 18192 9 20574 10 22500 11 23826 12 24408 1b. Based on the data in the table, at what level of output is marginal cost (MC) the lowest? NOTE: You do not need to make any calculation here, but base your answer on information in the table. Output with lowest MC: 1c. At the output level given in 1b., and using values above, calculate average variable, average fixed, average total, and marginal cost. NOTE: Round to two decimal places. Average Variable Cost: Average Fixed Cost: Average Total Cost: Marginal Cost: Part 2 (Scenarios): Scenario 1: Suppose there is a decrease in labor productivity--specifically, a 10 percent reduction in total product at every level of labor hours employed--in the chip-making firm. 2a. For each measure in the matrix below, mark an "X" in the cell that corresponds to how that measure is affected (increase, decrease, or no change) by the decrease in labor productivity. Increase Decrease No Change Marginal Product: Marginal Cost: Average Variable Cost: Scenario 2: In response to the decrease in labor productivity (Scenario 1), the chip maker decreases the number of labor hours employed. (NOTE: For this scenario, assume the chip maker is always operating within Stage II of its production function.) 2b. For each measure in the matrix below, mark an "X" in the cell that corresponds to how that measure is affected (increase, decrease, or no change) by the decrease in labor hours employed. (NOTE: Average fixed cost has replaced average variable cost from 2a.) Increase Decrease No Change Marginal Product: Marginal Cost: Average Fixed Cost: Scenario 3: Suppose the maker of electronic devices bought $1 million worth of memory chips one year ago, holding them in inventory until now. Since the purchase, a more technologically advanced memory chip has been developed, permanently reducing value of the older-technology chips held in inventory to $0.70 million. 2c. From an economic standpoint, what is the cost of using the chips in inventory now? (NOTE: Mark an "X" in the box to the left of your chosen answer.) a. $0 b. $0.30 million c. $0.70 million d. $1 million 2d. What are the sunk costs associated with the chips in inventory? (NOTE: Mark an "X" in the box to the left of your chosen answer.) a. $0 b. $0.30 million c. $0.70 million d. $1 million
Answers
Part 1:
1a. Production/Cost Table:
Labor Hours Total Product Marginal Product Total Fixed Cost Total Variable Cost Total Cost
0 0 - $7,000 $0 $7,000
1 846 846 $7,000 $85 $7,085
2 2,388 1,542 $7,000 $170 $7,170
3 4,482 2,094 $7,000 $255 $7,255
4 6,984 2,502 $7,000 $340 $7,340
5 9,750 2,766 $7,000 $425 $7,425
6 12,636 2,886 $7,000 $510 $7,510
7 15,498 2,862 $7,000 $595 $7,595
8 18,192 2,694 $7,000 $680 $7,680
9 20,574 2,382 $7,000 $765 $7,765
10 22,500 1,926 $7,000 $850 $7,850
11 23,826 1,326 $7,000 $935 $7,935
12 24,408 582 $7,000 $1,020 $8,020
1b. Based on the data in the table, at what level of output is marginal cost (MC) the lowest?
Output with lowest MC: 5
1c. At the output level given in 1b., and using values above, calculate average variable, average fixed, average total, and marginal cost. (Round to two decimal places.)
Average Variable Cost: $85.00
Average Fixed Cost: $823.53
Average Total Cost: $908.53
Marginal Cost: $85.00
Part 2 (Scenarios):
Scenario 1:
2a. For each measure in the matrix below, mark an "X" in the cell that corresponds to how that measure is affected (increase, decrease, or no change) by the decrease in labor productivity.
Measure Increase Decrease No Change
Marginal Product X
Marginal Cost X
Average Variable Cost
Scenario 2:
2b. For each measure in the matrix below, mark an "X" in the cell that corresponds to how that measure is affected (increase, decrease, or no change) by the decrease in labor hours employed.
Measure Increase Decrease No Change
Marginal Product X
Marginal Cost X
Average Fixed Cost X
Scenario 3:
2c. From an economic standpoint, what is the cost of using the chips in inventory now?
a. $0
2d. What are the sunk costs associated with the chips in inventory?
b. $0.30 million
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Question 4 of 10
What is a 401(k)?
A. A federal program that provides retirement income for the elderly
and people with disabilities
B. A retirement fund that is designed for self-employed and other
individuals
C. A certificate issued by a bank to a person who has deposited
money for a specific amount of time
D. A retirement plan sponsored by a company to which employees
can contribute part of their wages
Answers
A 401(k) is indeed a retirement plan sponsored by a company to which employees can contribute part of their wages. Hence, Option (D) is correct.
The employer establishes the 401(k) plan and offers it as a benefit to eligible employees.
Through this plan, employees have the option to contribute a portion of their earnings directly from their salary into the 401(k) account.
These contributions are typically deducted before taxes are applied, which can provide tax advantages and potentially lower the employee's taxable income.
The funds within the 401(k) account are then invested in various financial instruments, such as stocks, bonds, or mutual funds, with the goal of growing the investment over time to provide retirement income for the employee.
Thus, a 401(k) is a retirement plan commonly offered by employers in the United States.
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what is project a's discounted payback? do not round intermediate calculations. round your answer to four decimal places.
Answers
Discounted Payback Period of Project A can be calculated as Years Before Full Recovery + (Unrecovered Cost at Start of Year / Cash Flow during Year). Hence, the discounted payback period for Project A is 2.5866.
In order to calculate Project A's discounted payback period, the following formula can be used:
Discounted Payback Period = Years Before Full Recovery + (Unrecovered Cost at Start of Year / Cash Flow during Year)
Here, we need to determine the unrecovered cost at the start of year and the cash flow during the year for each year and then calculate the discounted payback period accordingly. The discount rate for Project A is given as 12%.
Year 0: Unrecovered Cost = -2000
Year 1: Cash flow = 800, Present Value = 800/(1+0.12) = 714.29
Year 2: Cash flow = 1100, Present Value = 1100/(1+0.12)^2 = 853.86
Year 3: Cash flow = 1500, Present Value = 1500/(1+0.12)^3 = 1013.14
Year 4: Cash flow = 1900, Present Value = 1900/(1+0.12)^4 = 1202.62
Year 5: Cash flow = 2400, Present Value = 2400/(1+0.12)^5 = 1381.03
The unrecovered cost is fully recovered in Year 2, so the discounted payback period can be calculated as follows:
Discounted Payback Period = 2 + (2000 - 714.29)/(853.86) = 2.5866 (rounded to 4 decimal places)
Therefore, the discounted payback period for Project A is 2.5866.
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Select the correct answer.
Sandra is about to start a small business in her area. She is creating a business plan after carrying out extensive research. She is currently creating projected balance sheets and income statements that could be useful to potential investors. Under which section of the business plan should Sandra place these records?
A.
business description
B.
financial analysis
C.
marketing strategy
D.
sales forecast
E.
exit strategy
Answers
Answer:
Financial Analysis
Explanation:
Just trust moi ;)
Implementing and executing strategy successfully requires Implementing and executing strategy successfully requires:______________
A. the same kinds of creative management talent and innovative thinking capabilities as crafting strategy.
B. a financially driven process aimed at squeezing the most profit out of conducting daily operations.
C. the efforts of a company's whole management team, not just a few senior managers
D. a high caliber CEO that possesses the business vision, industry and competitive analysis skills, and entrepreneurial creativity needed to navigate the competitive landscape.
E. less managerial expertise and effort to perform well, at least in comparison with crafting a winning strategy.
Answers
Answer: C. . the efforts of a company's whole management team, not just a few senior managers
Explanation:
Planning, implementing and carrying out strategies requires a careful, collective and calculative decision to be made by all head of department and the board of an organization, because the decision taken will rub off through these departments for implementation. The decision or choice of decision should not be left to a few persons in the organization because when the ideas and plans are arranged the execution may fail as all the respective department were not involved by their heads.
Explain the criticisms of labor unions today. 25 POINTSS
Answers
One major criticism of labor unions today is that they have become too large and are out of touch with workers’ needs. In the past, union leadership has shown a pattern of corruption and many people worry that this trend continues today. Some people argue that union activity has hurt the US economy; higher union wages have meant higher prices for consumer goods and the introduction of improved technology has been slow as unions fear it will result in fewer employees.
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Create a 10 to 15 question customer service feedback survey for an industry or a company of your choice. Research several websites and locate sample customer service survey questions you might use as guides in completing this assignment.
Answers
Here is a sample customer service feedback survey for a company in the retail industry:
1. How satisfied were you with the service you received during your recent visit to our store?
2. Were you greeted in a friendly and welcoming manner?
3. Did our staff members offer you assistance or answer your questions promptly?
4. Did you find the product you were looking for easily?
5. Were our staff members knowledgeable about the products and services we offer?
6. How likely are you to recommend our company to a friend or family member?
7. Did you experience any issues or concerns during your visit that were not resolved to your satisfaction?
8. How important is customer service to you when choosing where to shop?
9. Do you feel that our prices are competitive compared to other retailers in the industry?
10. How can we improve our customer service to better meet your needs and expectations?
11. Were you satisfied with the cleanliness and organization of our store?
12. Did you experience any difficulties with our website or the online ordering process?
13. How satisfied were you with the speed and accuracy of your order fulfillment?
14. Do you feel that our return and exchange policies are fair and reasonable?
15. How likely are you to continue shopping with our company in the future?
These questions can help companies in the retail industry better understand their customers' needs and preferences, and identify areas where they can improve their customer service. By gathering feedback and addressing customer concerns, companies can build stronger relationships with their customers and improve their overall business performance.
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The unusual bases found in tRNA are poor substrates for ______. a. proteases b. polymerases c. ribosomes d. ribozymes e. RNases
Answers
The correct option is d. ribozymes. The unusual bases found in tRNA are poor substrates for ribozymes.
Ribozymes, also known as catalytic RNAs, are RNA molecules that catalyze chemical reactions. They are similar to enzymes in their ability to speed up biochemical reactions, but unlike enzymes, they are made up of RNA rather than protein. Ribozymes have a range of functions in the cell, including processing RNA molecules and repairing damaged RNAs. TRNA or transfer RNA is a type of RNA molecule that carries amino acids to the ribosome during protein synthesis.
Unusual bases, such as pseudouridine, dihydrouridine, and inosine, are commonly found in tRNA molecules. These unusual bases can have a significant impact on the structure and function of the tRNA molecule, but they are generally poor substrates for ribozymes. This means that ribozymes are unlikely to cleave or modify tRNA molecules that contain unusual bases.
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which of the following statements on forecasting methods is false? forecasts are rarely perfect. forecasts are more accurate over shorter time horizons rather than longer horizons. the forecast error for period t is needed to compute the forecast for period t 1. forecasts are more accurate for groups of items rather than individual items.
Answers
The false statement among the given options is: "The forecast error for period t is needed to compute the forecast for period t+1."
This statement is incorrect because the forecast error for period t is not needed to compute the forecast for period t+1. Forecasts are made based on historical data, statistical models, and forecasting methods, such as moving averages or exponential smoothing.
The forecast for period t+1 is typically calculated using the forecast for period t, not the forecast error. The other statements are true.
Forecasts are rarely perfect, meaning they may contain errors. Forecasts tend to be more accurate over shorter time horizons rather than longer horizons, as longer time periods introduce more uncertainties.
Additionally, forecasts are generally more accurate for groups of items rather than individual items, as group patterns tend to be more predictable than individual item patterns.
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Tubifor, Inc. purchases all available imported lumber so it can resell it at a quantity and rate that it prefers.
Answers
This trade restraining practice is a good example of controlling output because Tubifor, Inc. is purchasing all of the available output so that nobody else can purchase and they will be the sole owner and they can charge whatever price they want to charge.
Overall, the United States imports most foreign hardwood floors from Canada, China, Sweden, Indonesia, and Brazil. In addition to Malaysia, all these countries, with the exception of Sweden, are also important sources of hardwood moldings. But this example highlights the complexity of timber flows and international markets.
Imported lumber is Hardwood, softwood, plywood, or MDF are the four main types of wood that can be used for any type of woodworking project, and the following will give you confidence in choosing the right type of wood for your project.
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Who would be called upon to fix the following problem? The network at the U.S. embassy in Brazil has suddenly crashed.
Diplomatic Security Special Agent
information Management Specialist
Foreign Service Officer
economic Officer
Answers
An information management specialist would be the one to fix an issue with a network.
the 2013 cybersecurity market in the united states alone was estimated to be $65 billion and projected to grow at a 6 percent to 9 percent rate per year for at least the next five years.
Answers
The cybersecurity market in the United States was estimated to be $65 billion in 2013 and is expected to grow at a rate of 6 to 9 percent annually for the next five years.
Why is the cybersecurity market in the United States projected to experience consistent growth over the next five years?The cybersecurity market in the United States has witnessed substantial growth in recent years and is projected to continue expanding at a rate of 6 to 9 percent per year for at least the next five years. This growth can be attributed to several factors.
Firstly, the increasing frequency and sophistication of cyber threats have led organizations to prioritize their cybersecurity efforts. As technology advances and becomes more integrated into our daily lives, the potential for cyberattacks grows, necessitating robust security measures. Additionally, regulatory requirements and compliance standards have become more stringent, forcing companies to invest in cybersecurity solutions to safeguard their sensitive data and maintain customer trust. Furthermore, the rapid digital transformation across industries, including finance, healthcare, and government, has created a higher demand for cybersecurity services and products.
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mention the major job of Pharmacy
Answers
Answer:
dispense prescription medications to patients
Explanation:
Go to a Pharmacy
Answer:
major job in a pharmacy is a pharmacist
Explanation:
Pharmacists give people their prescription medicines that are needed for important sicknesses or illnesses
Cain Company reports net cash provided by operating activities of $35,000. It also reports the following information under “Adjustments to reconcile net income to net cash provided by operating activities” on its statement of cash flows (using the indirect method).
Answers
It can be seen from the solutions given that Cain's net income is $24,000.
Here is the solution:Net income = Net cash provided by operating activities - Adjustments
= $35,000 - $6,000 - $10,000 + $4,000 + $7,000 + $4,000
= $24,000
Therefore, Cain's net income is $24,000.
Here is a breakdown of the adjustments:
To determine cash flow from operations, it is necessary to include the gain on equipment sales in the net income as it is a non-cash entry.
A rise in accounts receivable implies that customers are prolonging payment of their invoices, resulting in decreased cash flow from the company's activities.
The depreciation expense is classified as a non-cash expense, hence it must be included in the calculation of cash from operations by adding it back to the net income.
A decrease in inventory indicates that the company is experiencing faster turnover of its inventory, leading to increased cash flow generated by its operations.
A rise in prepaid expenses denotes that the company is channeling more funds towards prepaid expenditures like insurance and rent, implying a reduced cash inflow from its operational activities.
A decline in the amount of wages that the company owes indicates that it is not promptly compensating its workforce. Consequently, this implies that the company's operational cash flow is reduced.
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PLEASE
what is lean production? in details (GCSE) keywords.
Answers
Answer:
actually I am very sorry I didn't learn this I don't take business
Explanation:
Sorry would there be anything else I can help u with
The cost to manufacture shoes decreases. Which statement describes the expected outcome?
Supply of the shoes will decrease, and market price will decrease.
Supply of the shoes will decrease, and market price will increase.
Supply of the shoes will increase, and market price will decrease.
Supply of the shoes will increase, and market price will increase.
Answers
The statement that describes the expected outcome is: c. Supply of the shoes will increase, and market price will decrease.
What is supply?Supply can be defined as the amount of goods or product produce that is available for buyers to buy or purchase.
If the cost of production is lower ,this will lead to increase in production as companies will be able to buy more materials and the outcome of this is that the market price of goods or product will reduce because the cost to manufactures has reduced.
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Answer: Supply of the shoes will increase, and market price will decrease.
Explanation:
why is journal considered as a fundamental or original book of double entry system
Answers
The journal is considered the foundation of the double-entry system since it is the first location where all transactions are recorded.
The double-entry system is a method of bookkeeping in which all transactions are recorded in two separate accounts:
a debit account and a credit account.
When the journal was created, the double-entry system was also created, as it provided a way for bookkeepers to organize financial transactions and keep track of them.
The journal is used to keep a chronological record of all transactions for a given period, and it includes the following information for each transaction:
Date of the transactionAmount of the transactionDebit and credit accounts involved in the transactionDescription of the transactionThe journal is used as a reference document to generate other financial statements, such as the balance sheet and the income statement, once all transactions have been recorded and classified.
As a result, the journal is an essential component of the double-entry accounting system because it ensures that all financial transactions are recorded and accounted for.
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what are expenses from those:
1. premises
2. Machinery
3. Rent received
4. Advertising
5. Motor Vehicle
6: Motor expense
Answers
Motor Expense