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Natali [406]
3 years ago
14

7. In capitalism, most businesses have a profit motive. Describe at least one reason that businesses with a profit motive may be

helpful for society and at least one reason that they may be harmful for society. Then, explain whether you think profit motive is a good thing or a bad thing for society. (4-7 sentences)
Business
1 answer:
kramer3 years ago
8 0
Gaining a profit from sold goods is helpful because the use of scarce resources is optimized. It also provide jobs. The bad side of being in a profit motive business is that some may be tempted to deal with customers . I think that a profit motive business is a good thing.
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Folklore Music manufactures harmonicas. Folklore uses standard costs to judge performance. Recently, a clerk mistakenly threw aw
Flura [38]

Answer: See explanation

Explanation:

a. The actual direct labor rate per hour will be:

= Standard direct labor rate per hour - favorable labor rate variance

= $11 - $0.40

= $10.60

Then, the actual direct labor hours worked during July will be calculated as:

= (5910 × $11) - $350 / $10.6

= ($65010 - $350) / $10.6

= $64660 / $10.6

= 6100

b. The direct labor rate variance will be:

= (Actual rate per hour - standard rate per hour) × Actual labor hours

= (10.60 - 11.00) × 6100

= 2440F

Direct labor efficiency variance will be:

= (6900 - 5910) × $11

= 2090U

The direct labor rate variance that was favorable shows that the manager paid a lower rate to its staffs while the direct labor efficiency variance that was unfavorable implies that the manager used less efficient workers. This indicates that a trade-off took place.

= (6900

5 0
3 years ago
In​ 1916, the ford motor company sold​ 500,000 model t fords at a price of​ $440. henry ford believed that he could increase sal
quester [9]
For the answer to the question above,
we must use this formula,
(New - Old)/ (Ave. of New and Old)

In this case,
501k -500k/(500,500(which is the ave. of the two.
Then it would be 1k/500,500

Then the answer would be .0020
Then
-1.439.5/439.5 because this is the average of the two.
so the answer would be .0023

Then finally divide the rate on change of quantity by the rate of change in price which is
0.002/-0.0023

Then the answer would be -.87

So the elasticity on the demand of model T is .87 ( remove the negative because elasticity is always positive.)

6 0
3 years ago
A 37-year-old client experienced a perinatal loss 3 days ago. Which client characteristic would be communicated to the health ca
jasenka [17]

Answer:

Denial of the death

Explanation:

A loss of a Child to a mother is not usually acceptable at first to the mother. A woman at 37 who is advance has slimmer chance of getting pregnant and the woman at 37, having a pregnancy and lossing the baby is not easy to deal with. Parental loss and bereavement is really had for a 37 year old mother who at first may not accept the death of the child but proper care will bring the mother back to full consciousness.

5 0
3 years ago
A company uses return on investment (ROI) to measure the performance of its business units. The company manufactures and distrib
dalvyx [7]

Answer: B. Decrease

Explanation:

Return on investment refers to the ratio between the net income and investment. It should be noted that a high return on investment implies that the investment's gains compare favourably to the cost.

In this scenario, since a large amount of raw material was bought in advance and stored in the manufacturing plant inventory, this will lead to an increase in the cost of production which therefore will reduce the return in investment.

Therefore, the correct option is B.

6 0
3 years ago
Average Accounting Return. Concerning AAR:a. Describe how the average accounting return is usually calculated and describe the i
evablogger [386]

Answer:

a. Describe how the average accounting return is usually calculated and describe the information this measure provides about a sequence of cash flows. What is the AAR criterion decision rule?

Average accounting return = average net income / average investment

The problem with AAR is that net cash flows are not equal to net income since depreciation expense and changes in net working capital are not accounted for by AAR.

The criterion decision rule is that projects with an AAR above a certain measure.

b. What are the problems associated with using the AAR as a means of evaluating a project’s cash flows? What underlying feature of AAR is most troubling to you from a financial perspective? Does the AAR have any redeeming qualities?

it doesn't consider net cash flows, nor time value of money. Personally, accounting is an extremely important tool but it only reflects a partial perspective of a business. E.g. a business might have a huge net income but if it doesn't have enough cash to function, it will go bankrupt. In finance, cash is king.

Personally, my biggest problem with AAR is that it doesn't consider net cash flows. I've been on situations where the company I worked for was apparently doing great, but our accounts receivables were huge and we couldn't collect money fast enough. My job was basically go to different banks and convince them of loaning us cash. The worst part was that even without being able to collect cash, we still had to pay taxes and that was another huge problem.

I believe that AAR is still used because of its simplicity. Also, taxes are paid based on accounting profits and many firms base they compensation plans on them.

8 0
3 years ago
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