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3 years ago

Management science stresses the use of rational, science-based techniques and mathematical models to improve _____.

Business

1 answer:

ANEK [815]3 years ago

5 0

Answer:

Decision making and strategic planning

Explanation:

Management science refers to a science that helps handling the activities of an organization to accomplish established goals with the use of scientific methods. In order to reach their objectives, companies need to plan the strategies they are going to use and make sound decisions based on careful research and analysis of data to solve problems. For this, companies tend to use different techniques and mathematical models that help them to have a better understanding of the company situation and discover the right path to be successful. According to this, the answer is that management science stresses the use of rational, science-based techniques and mathematical models to improve decision making and strategic planning.

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Joe runs a restaurant. He pays his employees $200,000 per year. His ingredients cost him $50,000 per year. Prior to running hi

Elanso [62]

Answer:

Cost incurred while running a restaurant:

Salary paid = $200,000 per year

Ingredients cost = $50,000 per year

Before running this restaurant, he was earning $150000 per year.

Here, we are using a concept called opportunity cost.

Opportunity cost refers to the benefit of a commodity that is forgone to produce one extra unit of some other commodity.

It is also refers to the value of next best alternative that is given up by choosing some other alternative.

In this question, opportunity cost of running a restaurant is the income that is earned when he was a lawyer, i.e, $1,50,000 per year. This is the income that is foregone when he started running a restaurant.

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2 years ago

Compared to World War II, World War I was (more/less/equally) devastating to the agriculture community. Choose the correct answe

Aleksandr [31]

Less because they had bombs that blew up plants and trees

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3 years ago

Read 2 more answers

For financial reporting, Clinton Poultry Farms has used the declining-balance method of depreciation for conveyor equipment acqu

Llana [10]

Answer:

The answer is given below

Explanation:

Depreciable cost at 31 December 2021 (2,848,000-2,004,000)

Depreciable Cost $844,000

Less: Residual value ($232,000)

Written down value as at January 1 ,2021 612,000

Depreciation per year as per straight line method (612,000/3) $204,000

Depreciation expense Dr.$204,000

Accumulated Depreciation Cr.$204,000

The change in depreciation method is change in estimate which is always accounted for prospectively.Therefore the written down value as at January 2021 will be depreciation over remaining useful life of the asset which is 3 years

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3 years ago

__8. A local government has a limited

galina1969 [7]

Answer:

Benefits enjoyed by not having trash in unused building and vacant plots

Explanation:

Opportunity cost is the foregone benefit by deciding in favor of one item over the others. It is the value of the forfeited option. Opportunity cost is quantified as the cost of the next best alternative.

The local government has two options; to support local businesses or two remove trash from buildings. It has opted to support local businesses. Removing trash is the foregone benefit. The joy of having trash-free buildings and plots is the forfeited advantage. The value of a clean surrounding or the benefits derived by not having trash in the neighborhood is the opportunity cost.

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3 years ago

You and a friend are designing and selling artisan smartphone covers. The covers are decorated with tiny manufactured rhinestone

IgorC [24]

In a manufacturing business or any type of business, one must start with capital that can upstart the business and then must be sustained through revenue. This is important to maintain the cycle of the business. In the manufaturing business, rhinestones is a term to describe the capital.

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3 years ago