Most likely, the boxes that sparked the complaints were the work of Clerk 1.
P (Clerk 1) = 0.4
P (Clerk 2) = 0.3
P (Clerk 3) = 0.3
P (Defective | Clerk 1) = 0.02
P (Defective | Clerk 2) = 0.025
P (Defective | Clerk 3) = 0.015
Given that you are aware that the chocolates are flawed, you must determine the chance for each employee. Apply Bayes' Rule to this calculation.
P (Defective) = P (Defective | Clerk 1) P (Clerk 1) + P( Defective | Clerk 2) P (Clerk 2) + P (Defective | Clerk 3) P (Clerk 3) = (0.02) (0.4) + (0.025) (0.3) + (0.015) (0.3) = 0.02
P(Clerk 1 | Defective) = (0.02) (0.4) / 0.02 = 0.4
P (Clerk 2 | Defective) = (0.025) (0.3) / 0.02 = 0.375
P (Clerk 3 | Defective) = (0.015) (0.3) / 0.02 = 0.225
Most likely, the boxes that sparked the complaints were the work of Clerk 1.
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COMPLETE QUESTION:
Recently, several long-time customers at the Sweet Haven Chocolate Company have complained about the quality of the chocolates. It seems there are several partially covered chocolates being found in boxes. The defective chocolates should have been caught when the boxes were packed. The manager is wondering which of the three packers is not doing the job properly. Clerk 1 packs 40% of the boxes and usually has a 2% defective rate. Clerk 2 packs 30%, with a 2.5% defective rate. Clerk 3 boxes 30% of the chocolates, and her defective rate is 1.5%. Which clerk is most likely responsible for the boxes that raised the complaints?
Multiple-step income statement and balance sheet The following selected accounts and their current balances appear in the ledger of Kanpur Co. for the fiscal year ended June 30, 20Y7:
Cash $92,000
Retained Earnings $381,000
Accounts Receivable 450,000
Dividends 300,000
Inventory 370,000
Sales 8,925,000
Estimated Returns Inventory 5,000
Cost of Goods Sold 5,620,000
Office Supplies 10,000
Sales Salaries Expense 850,000
Prepaid Insurance 12,000
Advertising Expense 420,000
Office Equipment 220,000
Depreciation Expense—Store Equipment 33,000
Accumulated Depreciation—Office Equipment 58,000
Miscellaneous Selling Expense 18,000
Store Equipment 650,000
Office Salaries Expense 540,000
Accumulated Depreciation—Store Equipment 87,500
Rent Expense 48,000
Accounts Payable 38,500
Insurance Expense 24,000
Customers Refunds Payable 10,000
Depreciation Expense—Office Equipment 10,000
Salaries Payable 4,000
Office Supplies Expense 4,000
Note Payable (final payment due 2034) 140,000
Miscellaneous Administrative Exp. 6,000
Common Stock 50,000
Interest Expense 12,000
Required:
a. Prepare a multiple-step income statement.
b. Prepare a retained earnings statement.
Answer:
Net Profit 1345,000
Retained Earnings $ 1426,000
Explanation:
The multi step income statement shows the sections of the income statement separately such as the operating expenses and non operating expenses .
Kanpur Co.
Multi step Income Statement
For year ended June 30, 20Y7:
Sales 8,925,000
Cost of Goods Sold 5,620,000
Estimated Returns Inventory (5,000)
Adjusted Cost OF Goods Sold 5,615,000
Gross Profit $ 3310,000
Less Operating Expenses
Rent Expense 48,000
Selling And Administrative Expenses
Office Supplies Expense 4,000
Sales Salaries Expense 850,000
Miscellaneous Selling Expense 18,000
Depreciation Expense—Store Equipment 33,000
Office Salaries Expense 540,000
Depreciation Expense—Office Equipment 10,000
Advertising Expense 420,000
Miscellaneous Administrative Exp. 6,000
Total Operating Expenses 1881,000
Operating Income 1381,000
Other Expense
Insurance Expense 24,000
Interest Expense 12,000
Total Non Operating Expenses 36,000
Net Profit 1345,000
Kanpur Co.
Statement of Retained Earnings
For year ended June 30, 20Y7:
Retained Earnings $381,000
Add Net Profits 1345,000
Less Dividends 300,000
Retained Earnings For year ended June 30, 20Y7 $ 1426,000
When filing a consumer complaint, your last resort to receive compensation
should be
O
O
A. posting a review on social media.
B. complaining directly to the company.
O
C. complaining to a consumer protection agency.
d
D. filing a lawsuit against the company.
Filing a consumer complaint, last resort to receive compensation should be filing a lawsuit against the company. Thus, option (d) is correct.
What is compensation?
The term “compensation” means payment to be received in exchange for services. The compensation received and earned by employees In the workplace, wages, and salaries are adjusted to include commission and rewards for exceptional job performance, such as stock, profit sharing, and bonuses.
A legal action being taken against the corporation. Small claims and class actions are your two greatest possibilities. Act within the deadlines for bringing a case if you decide to sue. Ask for legal counsel and weigh the advantages and disadvantages.
Therefore, option (d) is correct.
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Question 4 (4 points)
Match each Type of Sales Channel to its corresponding description.
>
Selling products in bulk
to various outlets or
retailers for onward
sale.
When a brand or
manufacturer sells
direct to consumers
and the end users of
their products, as
opposed to selling to
them solely through
retailers.
Selling products directly
to end customers for a
profit, either in-store,
online, mail-order, or
by phone.
Businesses that sell to
other businesses who
are the intended end
user of the product.
1. Retail.
2. Wholesale
3. Direct to Consumer
4. B2B
Based on business and trading methods, the type of sales channel, that matches the description can be any of the following Retail, Wholesale, Direct Consumer, or B2B.
What are Sales Channels?The Sales Channel is a term that is used to describe the ways or methods in which producers sell their products. This method can either be through direct or indirect routes.
Considering the available descriptions we have the following sales channel matching them.Wholesale: Selling products in bulk to various outlets or retailers for onward sale.Direct to Consumer: When a brand or manufacturer sells direct to consumers and the end users of their products, as opposed to selling to them solely through retailers.Retail: Selling products directly to end customers for a profit, either in-store, online, by mail-order, or by phone.B2B: Businesses that sell to other businesses who are the intended end user of the product.Hence, in this case, it is concluded that each of the types of sales channels has its peculiarities that producers may choose to utilize.
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63 On January 1, a company had the following equity account balances: Retained earnings $200 Paid-in capital $150 The following information was true about the company during the year: • Shareholders invested an additional $70 cash in the business. • The company's net loss for the year was $100. • Dividends for the year were $20. It is unusual, but not impossible, for a company to pay dividends even in a year in which it reports a net loss instead of net income. What is the company's retained earnings at the end of the year?
At the end of the year, the company's retained earnings would be $80.
What is Retained Earning?The term "retained earnings" refers to the portion of a company's profits that is retained rather than distributed to shareholders as dividends. It represents a company's accumulated profits that have not been distributed as dividends. Retained earnings can be put to use for a variety of things, such as reinvesting in the company, paying off debt, buying back shares, or providing the business with a cushion during difficult economic times.
The computation for the organization's held income toward the year's end would be:
Dividends = $20 Retained Earnings = $200 - $100 - $20 = $80 Beginning Retained Earnings = $200 Net Income/Loss = -$100 (since the company had a net loss of $100) Dividends = $20
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Overall there are 3 main factors that are used to compute the premiums charged for health insurance. They are: A) Morbidity, interest, expenses B) Policy reserves, interest, expenses C) Mortality, interest, expenses
D) Morbidity, reserves, expenses
Option C is the correct answer. The three main factors used to calculate health insurance premiums are mortality, interest, and expenses.
What about health insurance?One sort of insurance that covers all or a portion of the risk of a person needing medical care is health insurance, sometimes referred to as medical insurance or medical aid in South Africa.Similar to other types of insurance, risk is shared among numerous parties. An insurer can create a standard financial framework, like a monthly premium or payroll tax, to raise the funds necessary to pay for the medical benefits outlined in the insurance agreement by evaluating the overall risk of health risks and health system expenses over the risk pool. The benefit is managed by a central body, which could be a non-profit organisation, a government agency or a private company.To know more about health insurance, visit:
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The Bird Carver has 1,800 bonds outstanding with a $1,000 face value, an 8 percent coupon, 10 years to maturity, annual interest payments, and sells at 95 percent of face value. The firm also has 50,000 shares of common stock outstanding at a market price of $56 a share and a beta of 0.87. The risk-free rate is 4 percent, the market return is 12 percent and the tax rate is 35 percent. What is WACC?
The Bird Carver's Weighted Average Cost of Capital (WACC) is 8.87%.
We must ascertain the costs of debt and equity in order to compute the weighted average cost of capital (WACC).
Cost of Debt: The yield to maturity (YTM) of the bonds is used to determine the cost of debt. We can determine the YTM using financial formulae or tools if the bonds have a face value of $1,000, an 8 percent coupon, sell for 95% of face value, and have 10 years before maturity. Let's say that the YTM is 8.5%.
Cost of Equity: The Capital Asset Pricing Model (CAPM) is used to calculate the cost of equity. We may determine the cost of equity using the following equation: Cost of Equity = Risk-Free Rate + Beta * (Market Return - Risk-Free Rate) Given the market return of 12 percent, the risk-free rate of 4 percent, and a beta of 0.87 for the common stock. Assume that the cost of equity is 9.24%.
WACC, or weighted average cost of capital
The weighted average cost of capital, or WACC, is calculated by averaging the costs of debt and equity according to the capital structure of the organisation. Assume that the firm's debt to equity ratio is 1:1. Thus, the WACC can be determined using the formula below:
WACC = (Debt Proportion * Cost of Debt) + (Equity Proportion * Cost of Equity)
= (0.5 * 8.5%) + (0.5 * 9.24%)
= 4.25% + 4.62%
= 8.87%
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You call a coworker to see if they can come help you solve a problem
How does the devaluation and appreciation of the local currency effect to balance of payment, analyze for each component
Answer: Balance of payment will worsen due to devaluation.
Explanation: The balance of payments refers to the balance of supply and demand for a country's currency in the foreign exchange market. Devaluation will make local currency weaker and foreign currency stronger. Therefore less demand for local currency in the foreign market. The imports will become expensive, more amount of local currency will be paid as it is weaker. The exports will become cheaper, more amount of local currency will be received as foreign currency is stronger than it.
Vise Versa for appreciation.
Explain how each of the following events would affect the equilibrium price and quantity of new textbooks. (Explain which curve(s) would shift and in which direction(s).)
The events that would affect the equilibrium price and quantity of new textbooks include changes in production costs, shifts in student enrollment, changes in government policies etc.
How do these events impact the equilibrium price and quantity?The changes in production costs will shift the supply curve of new textbooks. If production costs increase, the supply curve would shift to the left resulting in decrease in the equilibrium quantity and an increase in the equilibrium price.
But if production costs decrease, the supply curve would shift to the right leading to an increase in the equilibrium quantity and a decrease in the equilibrium price of new textbooks.
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Many graduates choose to go to a community college or a trade school after graduation to save money on tuition. Typically, a trade school program takes two years to complete and ends with
an apprenticeship in the student's chosen trade to provide hands-on training.
How does the decision to go to a trade school rather than a university affect the long-term financial goals of an individual? IE.1.4
O It leads to less hands-on training and less difficulty finding a job.
O It creates less debt from tuition and the ability to enter the workforce sooner.
O It leads to more hands-on training and more difficulty finding a job.
O It creates more debt from tuition, and trade school takes longer to complete.
Going to a trade school rather than a university can positively affect the long-term financial goals of an individual by Option B. It creates less debt from tuition and the ability to enter the workforce sooner.
One of the primary advantages of choosing a trade school is the lower cost of tuition compared to a traditional university. Trade schools typically have lower tuition fees, making them more affordable for many students. This translates to less debt burden, allowing individuals to start their careers with a smaller financial obligation.
Additionally, trade school programs are typically shorter in duration, typically taking two years to complete. This means that students can enter the workforce and start earning sooner compared to the longer duration of university programs. By gaining early entry into the workforce, individuals have the opportunity to start earning and saving money earlier, contributing to their long-term financial goals.
Furthermore, trade school programs often emphasize hands-on training and practical skills development. This prepares students directly for their chosen trade and enhances their employability. They gain specific, job-related skills that are in demand, which can make it easier for them to find employment in their field upon completion of the program.
In contrast, attending a university often involves higher tuition costs, longer program durations, and a broader education rather than a focused trade-specific curriculum. While universities provide valuable knowledge and opportunities for certain careers, trade schools offer a more cost-effective and streamlined path for individuals seeking hands-on training and immediate entry into the workforce. Therefore, the correct option is B.
The question was incomplete, Find the full content below:
Many graduates choose to go to a community college or a trade school after graduation to save money on tuition. Typically, a trade school program takes two years to complete and ends with an apprenticeship in the student's chosen trade to provide hands-on training. How does the decision to go to a trade school rather than a university affect the long-term financial goals of an individual? IE.1.4
A. It leads to less hands-on training and less difficulty finding a job.
B. It creates less debt from tuition and the ability to enter the workforce sooner.
C. It leads to more hands-on training and more difficulty finding a job.
D. It creates more debt from tuition, and trade school takes longer to complete.
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What insurance related issues are currently being prioritized in Tennessee
Answer:politics
Explanation:
Politics is the insurance related issues are currently being prioritized in Tennessee.
What is insurance issue?Political conspiracies can occasionally have an impact on the premiums that must be paid, the results of risk analyses, and the required payments for damages and compensation. These are some of the biggest issues that insurance companies face. Among them are incompetence in management, unstable economy, a lack of mutual trust, and rivalry.
In an insurance agreement, the insurer is responsible for covering a party's losses due to specific calamities or risks. It protects the insured person's or their family's finances from loss. There are several different types of insurance coverage. Life, health, homeowners, and vehicle insurance are the most common varieties.
Next, we take a closer look at the three most important insurance subcategories: life, liability, and property.
Thus, it is Politics.
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Deposits of $1,530 each were received for advance tour reservations from 10 school groups. At November 30, all of these
deposits have been earned.
Which type of team rarely has the
authority to unilaterally implement
any of their suggestions?
= Problem-Solving Teams
Explanation:
Problem-Solving Teams is the right one hahahahahahahabaha
total marketing effort is a term used to describe the critical decision factors that affect demand: price, advertising, distribution, and and product quality. let the variable x represent total marketing effort. a typical model that is used to predict demand as a function of total marketing effort is D=ax
A linear link between demand (D) and overall marketing effort is shown by the equation D = axe (x). The slope of the line, or a, which represents the proportionality constant in this case, depicts the increase in demand for each additional unit of marketing activity.
What can be inferred about the link between demand and marketing effort from the model for B 1?What can be inferred about the link between demand and marketing effort from the model for b=1. Demand rises linearly as marketing effort rises.
What exactly is a marketing effort?The resources a business commits to promoting its goods and services are known as marketing efforts. A business can increase exposure among potential clients and generate demand and interest for its products through marketing initiatives.
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When an existing contract is replaced with an entirely new contract , it is called
Answer:
novation
Explanation:
In trying to "sell yourself" to a school, you need to tell the college what makes you special. Will you be a good educational investment? In 75 words or less, what will you say about yourself, your abilities, and your interests?
The answer should be, I am a very driven and committed person that has a tremendous love for education and personal development.
What is a formal introduction?In a formal setting or context, such as a business meeting, job interview, or social function, a formal introduction is a systematic and professional approach to introducing oneself or others. It often entails announcing one's name, title, or affiliation as well as maybe providing some pertinent background information or information that establishes one's credibility or fosters a relationship with the audience. In a formal introduction, it's crucial to express respect and professionalism using appropriate words, tone, and manners.
I have repeatedly shown throughout my academic career that I am capable of doing well in demanding circumstances and collaborating with others.
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I can be a good educational investment as i am very dedicated and honest person , i have a good command on english speaking and have better listening skills.
Why is it important for students to invest?Investing money you made when you were young can come in handy and help you get through tough times on your own. With early investments, borrowing from others is significantly less necessary. I hope you have already decided to invest as a student.
How crucial is it to invest in education?Not only is it the right thing to do, but it is also smart economics to put money into education. Education can lead to employment, empowerment, and health. There is evidence to suggest that a person's income rises by 10% and a nation's GDP rises by 18% for every additional year of education.
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Which of the following activities would waste the most time?
a. Rich tries to multitask writing a report and reading a memo, and has to re-write the report and
re-read the memo, which takes an hour.
b. During a departmental meeting, Barry and Scott make small talk for twenty minutes while the
other six meeting members sit and listen.
c. Greg asks Tony a question about work and then talks to him for ten minutes about who will
win the game tonight.
d. Barbara composes an e-mail during her thirty minute train ride to work.
Angela Lansbury Company deposits all receipts and makes all payments by check. The following information is available from the cash records.
June 30 Bank Reconciliation
Balance per bank
$14,728
Add: Deposits in transit
3,240
Deduct: Outstanding checks
(4,208
)
Balance per books
$13,760
Month of July Results
Per Bank
Per Books
Balance July 31 $18,199 $19,462
July deposits 9,468 12,224
July checks 8,416 6,522
July note collected (not included in July deposits) 3,156
July bank service charge 32
July NSF check from a customer, returned by the bank (recorded by bank as a charge) 705
Exercise 7-24 Angela Lansbury Company deposits all
Exercise 7-24 Angela Lansbury Company deposits all
Prepare a bank reconciliation going from balance per bank and balance per book to correct cash balance.
Angela Lansbury Company
Bank Reconciliation
July 31
Deposits in transitOutstanding checksBalance per books, July 31Bank service chargeNSF checkCorrect cash balance, July 31Balance per bank statement, July 31Collection of note
$
LessAdd
:
Deposits in transitUnderstated check for suppliesBalance per books, July 31Collection of noteBank service chargeCorrect cash balance, July 31NSF checkBalance per bank statement, July 31
LessAdd
:
NSF checkBank service chargeCorrect cash balance, July 31Balance per bank statement, July 31Understated check for suppliesBalance per books, July 31Collection of noteOutstanding checks
Deposits in transitBank service chargeBalance per books, July 31Balance per bank statement, July 31Outstanding checksCollection of noteNSF checkCorrect cash balance, July 31
$
Balance per bank statement, July 31NSF checkDeposits in transitBank service chargeCorrect cash balance, July 31Outstanding checksBalance per books, July 31Collection of note
$
AddLess
:
Collection of noteBalance per books, July 31Balance per bank statement, July 31Bank service chargeNSF checkCorrect cash balance, July 31Deposits in transitOutstanding checks
LessAdd
:
Deposits in transit Outstanding checks Correct cash balance, July 31 Balance per bank statement, July 31 Balance per books, July 31 Collection of note Bank service charge NSF check
$
Balance per bank statement, July 31 Bank service charge Deposits in transit Outstanding checks NSF check Balance per books, July 31 Collection of note Correct cash balance, July 31
Balance per bank statement, July 31NSF checkCorrect cash balance, July 31Deposits in transitBank service chargeBalance per books, July 31Outstanding checksCollection of note
$
SHOW LIST OF ACCOUNTS
LINK TO TEXT
Exercise 7-24 Angela Lansbury Company deposits all
Exercise 7-24 Angela Lansbury Company deposits all
Prepare the general journal entry to correct the Cash account. (If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when the amount is entered. Do not indent manually.)
Account Titles and Explanation
Debit
Credit
Answer:
a. Adjusted Balance = Adjusted Balance = $21,881.
b. See the journal below.
Explanation:
Note: The actual data needed to answer this question are merged together. They are therefore sorted before answering the question. See the attached pdf file for the complete question with the sorted data that are actually needed.
Explanation of the answers is now given as follows:
a. Prepare a bank reconciliation going from balance per bank and balance per book to correct cash balance.
Angela Lansbury Company
July 30 Bank Reconciliation
Details Amount ($)
Balance as per bank 18,199
Add:
Deposit In transit ($3,240 + $12,224 - $9,468) 5,996
Less:
Outstanding Checks ($4,208 + $6,522 - $8,416) (2,314)
Adjusted Balance 21,881
Balance as per book 19,462
Add:
Note Collected 3,156
Less:
Bank Service charge (32)
NSf Check (705)
Adjusted Balance 21,881
b. Prepare the general journal entry to correct the Cash account.
The journal entries will look as follows:
Particulars Debit ($) Credit ($)
Cash 3,156
Note Collected 3,156
(To record note collected by bank.)
Bank Service charge 32
Cash 32
(To record Bank Service charge.)
Account Receivable 705
NSf Check 705
(To record NSf Check.)
Junker’s Stash started the Year 2 accounting period with the balances given in the financial statements model shown below. During Year 2, Junker’s Stash experienced the following business events:
1. Paid cash to purchase $70,000 of merchandise inventory.
2. The goods that were purchased in Event 1 were delivered FOB destination. Freight costs of $1,400 were paid in cash by the responsible party.
3a. Sold merchandise for $72,000 under terms 1/10, n/30.
3b. Recognized $41,900 of cost of goods sold.
4a. Junker’s Stash customers returned merchandise that was sold for $2,100.
4b. The merchandise returned in Event 4a had cost Junker’s Stash $1,250.
5. The merchandise in Event 3a was sold to customers FOB destination. Freight costs of $1,650 were paid in cash by the responsible party.
6a. The customers paid for the merchandise sold in Event 3a within the discount period. Recognized the sales discount.
6b. Collected the balance in the accounts receivable account.
7. Paid cash of $6,850 for selling and administrative expenses.
8. Sold the land for $9,100 cash.
Required a. Record the above transactions in a financial statements model. The first event is recorded as an example.
b. Determine the amount of net sales.
c. Prepare a multistep income statement. Include common size percentages on the income statement.
d. The return-on-sales ratio for Junker’s Stash during the prior year was 12 percent. Based on the common size data in the income statement, did the expenses for Junker’s Stash increase or decrease in Year 2?
Answer:
a. Record the above transactions in a financial statements model. The first event is recorded as an example.
I prepared an excel spreadsheet because there is not enough room here.b. Determine the amount of net sales.
$69,201c. Prepare a multistep income statement. Include common size percentages on the income statement.
Multistep Income Statement
Revenues: $69,201
Sales revenue $72,000Sales discounts ($699)Sales returns and allowances ($2,100)COGS: ($40,650)
Gross profit: $28,551
S&A expenses: ($8,500)
Delivery ($1,650)Sales and adm. expenses ($6,850)Operating income $20,051
d. The return-on-sales ratio for Junker’s Stash during the prior year was 12 percent. Based on the common size data in the income statement, did the expenses for Junker’s Stash increase or decrease in Year 2?
return on sales = operating profit / net sales = $20,051 / $69,201 = 28.98%
this means that Junker's expenses decreased this year
Explanation:
1)
Dr Merchandise inventory 70,000
Cr Cash 70,000
3)
Dr Accounts receivable 72,000
Cr Sales revenue 72,000
Dr Cost of goods sold 41,900
Cr Merchandise inventory 41,900
4)
Dr Sales returns and allowances 2,100
Cr Accounts receivable 2,100
Dr Merchandise inventory 1,250
Cr Cost of goods sold 1,250
5)
Dr Delivery expense 1,650
Cr Cash 1,650
6)
Dr Cash 69,201
Dr Sales discounts 699
Cr Accounts receivable 69,900
7)
Dr S&A expenses 6,850
Cr Cash 6,850
8)
Dr Cash 9,100
Cr land 9,100
illustrate the effect that a decrease in a price of milk (an input of ice cream) would have on the market for ice cream.
A decrease in the price of milk would lead to a decrease in the production cost of ice cream and an increase in its supply, causing a decrease in the equilibrium price of ice cream and an increase in its quantity demanded and supplied.
A decrease in the price of milk is likely to have a direct effect on the market for ice cream. Milk is a key ingredient in the production of ice cream, and so a decrease in the price of milk would lead to a decrease in the production cost of ice cream. The impact of this decrease in production cost will result in an increase in the supply of ice cream. The supply curve will shift to the right, showing that more ice cream is available for sale at any given price.
This means that the equilibrium price of ice cream will decrease because suppliers are willing to sell more ice cream at lower prices due to lower production costs. As a result, consumers would demand more ice cream because they would be able to purchase it at a lower price. This increase in demand would cause the demand curve to shift to the right, further increasing the equilibrium quantity of ice cream traded in the market.
Therefore, a decrease in the price of milk would lead to a decrease in the production cost of ice cream and an increase in its supply, causing a decrease in the equilibrium price of ice cream and an increase in its quantity demanded and supplied.
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Scenario 1: Business Competition
BRG of Georgia and BARMAX, located in Illinois are the nation’s two largest providers of bar review materials and lectures that are designed to help students study and pass the bar exam for their state.
BARMAX began offering Georgia bar review course on a limited basis in 2006 and was in direct, and often intense, competition with BRG from 2007 to 2009 when the companies were the two main providers of bar review courses in Georgia. In early 2010, they entered into an agreement that gave BRG an exclusive license to market BARMAX materials in and to use its trade name Bar/Bri. The parties agreed that BARMAX would not compete with BRG in Georgia and that BRG would not compete with BARMAX outside of Georgia. Under the agreement, BARMAX received $100 per student enrolled by BRG and 40 percent of all revenues over $350. Immediately after the 2010 agreement, the price of BRG’s course was increased from $150 to more than $400.
Is their conduct illegal under federal antitrust laws? Why or why not?
The conduct of BRG and Barmax may be illegal under federal antitrust laws.
In this case, BRG and BARMAX agreed not to compete with each other in their respective geographical areas, with BARMAX refraining from competing with BRG in Georgia, and BRG refraining from competing with BARMAX outside of Georgia.
This division of territories could be seen as an attempt to eliminate or reduce competition, which is generally prohibited by antitrust laws.
Also, immediately after the agreement, BRG increased the price of its course significantly.
This price increase, coupled with the revenue-sharing arrangement between BRG and BARMAX, could suggest a coordinated effort to fix prices or maintain artificially high prices, which is also typically illegal under antitrust laws.
Thus, this agreement violates the federal antitrust laws and is illegal.
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what is the relative worth of goods
Relative Value in Consumption is measured as the relative cost of the amount of goods and services such as food, shelter, clothing, etc., that an average household would buy. Historically this bundle has become larger as households have bought more over time.
When must you wash your hands
Answer:
Before, during, and after preparing food. Before and after eating food. Before and after caring for someone at home who is sick with vomiting or diarrhea. Before and after treating a cut or wound.
wash your hands before and after always and preferably with antibacterial soap
what step in the rational decision-making process involves assessing what worked and did not work about the process and solution
The step in the rational decision-making process which involves assessing what worked and did not work about the process and solution is defining the problem.
What is rational decision-making process?Rational decision can be described as the opposite of intuitive decision making.
It can be described as the strict procedure utilizing objective knowledge and logic and this also involves identifying the problem to solve, it hence The step in the rational decision-making process which involves assessing what worked and did not work about the process and solution is defining the problem.
In conclusion, Decision making serves as the process that involves consideration of choices through the identification of a decision.
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Answer:
the last step
Explanation:
A Market share is usually stated as a
Answer:
stock
Explanation:
a stock is a a share of a company
Match the cause for the negatively sloped aggregate demand curve with the correct term.
1. As prices rise, the cost for businesses to finance new equipment increases, causing a drop in quantity demanded of real GDP.
2. The purchasing power of money held in savings accounts falls as prices rise.
3. As prices rise in the United States, foreigners purchase fewer U.S. goods.
OPTIONS:
a. The Aggregate Demand Effect
b. The Wealth Effect
c. The Interest Rate Effect
d. The Export Effect
Answer:
1. C
2. B
3. D
Explanation:
Gross Domestic Products (GDP) is a measure of the total market value of all finished goods and services made within a country during a specific period.
Simply stated, GDP is a measure of the total income of all individuals in an economy and the total expenses incurred on the economy's output of goods and services in a particular country.
Basically, the four (4) major expenditure categories of GDP are consumption (C), investment (I), government purchases (G), and net exports (N).
The various factors that have an effect on the GDP of a country's economy are;
1. The Interest Rate Effect: As prices rise, the cost for businesses to finance new equipment increases, causing a drop in quantity demanded of real GDP.
2. The Wealth Effect: The purchasing power of money held in savings accounts falls as prices rise.
3. The Export Effect: As prices rise in the United States, foreigners purchase fewer U.S. goods.
Describe the role of supply, demand, and competition in a free enterprise system
Answer:
if a product is wanted for instance chocolate the price and demand will increase but the stock will drop
Embree corp., purchased a four
Answer:
Embree Corp. purchased a four-year insurance policy on May 1, Year 2, for $12,000, effective immediately. The company expensed the full cost of the policy in Year 2. The correct journal entry for Year 2 (ending December 31) will include a:
Explanation:
Debit to prepaid insurance of $10,000.
1. What is the difference between profit maximization and wealth maximization? Under what conditions might profit maximization lead to wealth maximization?
The difference between profit maximization and wealth maximization. The essential difference between the maximization of profits and the maximization of wealth is that the profits focus is on short-term earnings, while the wealth focus is on increasing the overall value of the business entity over time.
What is Profit maximization?The profit maximization refers to finding the most profitable way to produce goods or provide any services. It simply means to maximize the profits of the company.
Profit maximization, in economics, is one of the most common objectives of every company. Generally, profit in accounting and business terms means that part of the amount which arrived after revenue exceeds the cost of production involved.
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At the beginning of lecture, Dr.McCarty says that the US economy is built to serve:________.
a. The service industry
b. People who own things
c. The lower class
d. The industrial sector
Answer:
At the beginning of lecture, Dr.McCarty says that the US economy is built to serve:________.
b. People who own things
Explanation:
The U.S. economy, which is a mixed economy, exhibits both capitalism and socialism characteristics. While it allows economic freedom to people who own things (capitalists), occasionally, the government intervenes to achieve public good by imposing some restrictions and licensing. The government is also involved in some economic development, especially as it relates to education, roads, and healthcare. As a mixed economy, the government uses monetary and fiscal policies to rein in some of the excesses of capitalism.