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andreyandreev [35.5K]
3 years ago
12

Jonathan, a supervisor, needs to assess his subordinate's performance. He uses a method that compares one employee with another.

In doing so, he rates an exceptional employee as an average performer by mistake. Jonathan's manager tells him that he can avoid this type of error if he uses an assessment method that compares an employee with an objective standard rather than another employee. In the context of types of rating errors, Jonathan commits the _____ error.
Business
1 answer:
Valentin [98]3 years ago
4 0

Answer:

In the context of types of rating errors, Jonathan commits the contrast error.

Explanation:

Contrast error is a concept which involves the rating of an employee according to any other employee. This is an error in which a person is compared with the other and not to any certain standard. In this concept, an individual sets a standard on which the others' work is evaluated. This type of error majorly occurs during interviews and while evaluating the performances for appraisals.

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If demand for farmer​ john's maple syrup is​ inelastic, then when farmer john raises the price of maple​ syrup, his total revenu
dybincka [34]

If demand is inelastic, this means that the amount demanded doesn't change with the increase of price. In this case, if John were to raise prices, we assume that quantity demanded would stay the same and John would make more revenue.

7 0
3 years ago
. JetGreen Cleaners makes 80% of its sales on credit. Experience shows that 25% of the credit customers pay in the month of sale
anastassius [24]

Answer:

July = $237,600

August = $238,400

Explanation:

Note that credit sales account for only 80% of total sales, the remainder should be considered as cash receipts in the month of sale. Cash receipts for July are 20% of July total sales, plus 25% of July credit sales, plus 55% of June credit sales, and 20% of May credit sales:

J = 0.20*280,000+0.8*(0.25*280,000+0.55*220,000+0.20*180,000)\\J= \$237,600

Cash receipts for August are 20% of August total sales, plus 25% of August credit sales, plus 55% of July credit sales, and 20% of June credit sales:

A = 0.20*200,000+0.8*(0.25*200,000+0.55*280,000+0.20*220,000)\\A= \$238,400

Budgeted cash receipts are:

July = $237,600

August = $238,400

5 0
3 years ago
On the Chicago Board Options Exchange, the person responsible for handling those orders that can be executed immediately is the:
Sonja [21]

Answer:

B. Floor Broker

Explanation:

Floor brokers on the Chicago Board Options Exchange ( CBOE ) accept orders from member firms for execution. Orders are filled under an open outcry auction system in the trading "pits."

Market makers maintain bid and ask quotes in options contracts.

Order book officials maintain the book of public orders that cannot be immediately filled.

4 0
3 years ago
Item 9Item 9 On September 12, Vander Company sold merchandise in the amount of $9,600 to Jepson Company, with credit terms of 2/
myrzilka [38]

Answer:

Explanation:

2/10 , n/30 is a credit term arrangement where the seller agrees with the buyer that if payments are made within 10 days after purchase , he will enjoy a 2% discount or otherwise pay the full invoice amount at 30 days.

As Jepson paid on the 18th of the same month which is 9 days after purchase , he is entitled to 2% discount on the sales.

<u>Journal Entry</u>

September 8

Credit Sales  - $9,600

Debit receivable = $9,600

September 18

Debit Cash  - $9,408

Debit sales discount - $ 192

Credit receivable - $9,600

5 0
3 years ago
Maggie's Muffins, Inc., generated $2,000,000 in sales during 2015, and its year-end total assets were $1,400,000. Also, at year-
Ksenya-84 [330]

Answer:

The Sales will increase by $350,000 (2000,000 * 17.5%)

Explanation:

As we know that,

Self Supporting Growth Rate = Return on Equity * (1 - Payout Ratio) ...Eq1

Here

Payout ratio given is 50%

and

Return on Equity =  35% <u>(Step 1)</u>

By putting values in Eq1, we have:

Self Supporting Growth Rate = 35% * (1 - 50%)

Self Supporting Growth Rate = 17.5%

Which means that Sales will increase by $350,000 (2000,000 * 17.5%) which is 17.5%.

<u>Step 1: Find Return on Equity</u>

We know that:

Return on Equity = Net Income / Equity ..............Eq2

As we are not given value of Net Income we can not calculate the value of return on equity. But there is another way that we can calculate by simply multiplying and dividing by sales on Left hand side of the Eq2 equation.

Return on Equity = Net Income / Equity          * Sales / Sales

By rearranging, we have:

Return on Equity = Net Income / Sales  *   Sales / Equity

Now here,

Net Income / Sales  = Profit Margin

By putting this in the above equation, we have:

Return on Equity = Profit Margin  * Sales / Equity

Here

Profit Margin is 7% given in the question.

Sales were $2,000,000

And  

Equity is $400,000 <u>(Step 2)</u>

By putting values, we have:

Return on Equity = 7%  * $2,000,000 / $400,000

Return on Equity = <u>35%</u>

<u>Step 2. Find Equity</u>

Equity = Assets - Liabilities

Here,

Assets are worth $1,400,000

Liabilities are standing at $1,000,000 which includes only current liabilities because company doesn't have any long term borrowings

By putting the values, we have:

Equity = $1,400,000 - $1,000,000 = <u>$400,000</u>

<u>Brother, don't forget to rate the answer.</u>

5 0
3 years ago
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