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svlad2 [7]
3 years ago
12

9)What is the dominant strategy for bidders in an English oral auction?9)A)Bid until the previous bid price equals the reservati

on price of the last bidder.B)Keep bidding until all other bidders quit, regardless of your reservation price.C)Bid until the first-price and second-price bids are equal.D)Stop bidding once the price exceeds your reservation price.
Business
1 answer:
Sophie [7]3 years ago
3 0

Answer: B) Keep bidding until all other bidders quit, regardless of your reservation price.

Explanation: Familiar to English auctions, the bidders are aware of the prices of items on sale and the numbers of other bidders. This price is known as the reserve or reservation price which is the limit on the price of the item on sale set by the seller (that is the lowest price the seller is willing to sell the item). The bids start at a low price and keeps coming in until there are no more bids irregardless of the reservation price set. It probably depends on how much you value the item on sale and are willing to pay for it. Not necessarily on the reservation price.

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The 2016 financial statements of Leggett & Platt, Inc. include the following information in a footnote. (in millions) 2016 2
Virty [35]

Answer:

Option (D) is correct.

Explanation:

Given that,

In 2016,

Allowance for doubtful accounts = $7.2 million

Total accounts and other receivables, net = $486.6 million

In 2015,

Allowance for doubtful accounts = $9.3 million

Total accounts and other receivables, net = $520.2 million

Therefore,

Company’s current gross accounts and other receivables at the end of 2016:

=  net receivable(2016) + allowance for doubtful(2016)

= $486.6 + $7.2

= $493.8

8 0
3 years ago
4.
pshichka [43]

the answer to this question is 4.70%

7 0
3 years ago
Digital Enterprise, Inc., promises to pay its employees a year-end bonus "if profits continue to be high and management agrees a
barxatty [35]

Answer:

D) An illusory promise

Explanation:

An illusory promise is not enforceable. Illusory promises are simply illusions that seem or appear to a contract, but are not.

In this case, there is no consideration at all, therefore none of the parties is bound by a contract. It would be different if the company promised to pay a bonus if its profits are xx%. How can someone determine what is considered high profits, and how can you be sure that management will agree?

It is basically like telling someone else that you will give them something if you are happy and willing to do it. How can someone determine if you are happy or not, and how can someone know if you are willing to do it or not?

6 0
2 years ago
Amanda, the sales manager at an e-commerce fashion site, decides the annual, monthly, and weekly targets of all the salespersons
enot [183]

Answer:

The correct answer is B: Planning.

Explanation:

Planning is a key fundamental management function. It is deciding beforehand how are you going to achieve the objectives previously determined. Planning is deciding what needs to be done, when, who and how.

In this case, Amanda set the targets of the salesperson in order to achieve the organizational goals. By planning the sales required, she believes it will take her a step closer to the goals of the period.

4 0
3 years ago
Whirly Corporation’s contribution format income statement for the most recent month is shown below: Total Per Unit Sales (10,000
ivann1987 [24]

Answer:

See explanation section.

Explanation:

Requirement 1

New sales volume after increasing 100 units = (10,000 + 100) = 10,100 units. The revised net operating income is calculated as follows

                           Whirly Corporation’s

               Contribution format income statement

               For the year ended December 31 20YY

Sales Revenue (10,100 × 35) = 353,500 (Note - 1)

Less: Variable expense (10,100 × 20) = 202,000 (Note - 2)

Contribution Margin = $151,500

Less: Fixed Expense  $135,000

Net Operating Income $16,500

Note 1: Sale price per unit $350,000 ÷ 10,000 = $35

Note 2: Variable expense per unit $200,000 ÷ 10,000 = $20

Requirement 2

From requirement 1 we get,

Sale price per unit = $35

Variable expense per unit = $20

New sales volume after decreasing 100 units = (10,000 - 100) = 9,900 units. The revised net operating income is calculated as follows

                            Whirly Corporation’s

               Contribution format income statement

               For the year ended December 31 20YY

Sales Revenue (9,900 × 35) = 346,500

Less: Variable expense (9,900 × 20) = 198,000

Contribution Margin = $148,500

Less: Fixed Expense  $135,000

Net Operating Income $13,500

Requirement 3

From requirement 1 we get

Sale price per unit = $35

Variable expense per unit = $20

If the sales volume is 9,000 units, the revised net operating income is calculated as follows

                         Whirly Corporation’s

               Contribution format income statement

               For the year ended December 31 20YY

Sales Revenue (9,000 × 35) = $315,000

Less: Variable expense (9,000 × 20) = $180,000

Contribution Margin = $135,000

Less: Fixed Expense  $135,000

Net Operating Income           $0

If the company sells 9000 units, there will be no loss, no profit.

8 0
3 years ago
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