Answer:
Explanation:
When the future revenue producing ability of the inventory is above its original cost the
companies should reports their inventory value with LCNV method.
The correct answer should be <span>B. The interest rate may change depending on the condition of the economy.
Fixed-rate mortgages keep the same rates as they were declared at the time of the contract signing, which can either be great for the person or the bank depending on the economy fluctuations. Variable-rate mortgages change based on the economy which means that the conditions are always kept to a certain standard.</span>
Answer:
Situational Leadership Model (SLM), which leadership style should you exhibit at the next meeting?
Style 4. Delegating
Explanation:
Situational Leadership is based on the relationship between leaders and followers and serves as a framework to analyze each situation.
Situational Leadership: Delegating
Delegating: When you create a follower who feels fully empowered and competent enough to take the ball and run with it, with minimal supervision. The follower is highly competent, highly committed, motivated, and empowered.
We are given
fixed cost, F = $6,660,000
sales mix:
65% sporting goods
35% sports gear
margin ratio:
30% sporting goods
50% sports gear
Now, we solve for the break even point in dollars. We use the formula
x = total fixed cost / [ price - total variable cost/price ]
Using the given values
x = 6660000 / [0.65(0.3)(6660000) + .35(0.5)(660000)]/ [(0.3)(6660000) + (0.5)(660000)]
x = $14,400,000
The breakeven point is $14,400,000
This is the sales when the revenue is just equal to the total cost of producing the products resulting to zero profit.
Answer:
B) Good economists must possess a rare combination of gifts.
Explanation:
Economics is a social science that focuses on studying scarcity. Since all resources are scarce, economics tries to determine how to allocate resources more efficiently in order to produce the most possible benefits. We are all economists whether we like it or not. When we spend our money (scarce resource) we try to get the largest benefit out of it, the same applies to our time. We decide to study for a test and get a good grade, or simply take a very long nap.
The problem with economics and all social science, is that they are not exact. There is no possible way a scientific research can be done that includes all the economy, there are simply too many billions of transactions and different combinations that it is impossible to do it. Some microeconomics studies can be carried out but only considering a single company or industry and few factors.
Economists must base their research upon past events and develop models that can predict future events. Sadly but true, even meteorologists have a higher percentage of correct predictions than economists.
The few good economists must be very good at math, history, politics, philosophy, psychology, developing abstract ideas and make them concrete ideas, and last but not least must be able to explain all of this to others and convince them.
The problem with applying economic models to the real world are the changing expectations of the general public (psychology and philosophy). One of my teachers had a great saying, "the mouth is the most sensitive organ in your body, but your pocket is by far the most sensitive part".
