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aleksandr82 [10.1K]
3 years ago
8

​GEICO, the​ number-two auto insurer with ​$15 billion in revenue last​ year, spent ​$0.8 billion on advertising that year and p

lans to continue spending the same percentage of sales on advertising next year. The average​ advertising-to-sales ratio for the insurance industry is 0.3 percent of sales. If GEICO projects ​$19 billion in sales next​ year, using the​ percentage-of-sales method of advertising​ budgeting, how much will the company budget for advertising if basing it on projected​ sales?
Business
1 answer:
Oduvanchick [21]3 years ago
3 0

Answer:

 $1.01 billion

Explanation:

The computation of the amount for advertising based on projected sales is shown below:

= Advertising expense ÷ sales × projected sales in next year

= $0.8 billion ÷ $15 billion × $19 billion

=  $1.01 billion

First we find out the advertise to sales ratio after than we multiplied it with the projected sales in next year  in order to find out the advertising based on projected sales

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Answer and Explanation:

The Preparation of balance sheet is shown below:-

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2 years ago
It is ultimately up to the buyer to avoid fraud.
11111nata11111 [884]
That statement is True

Frauds are gonna exist, no matter what country you're in

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The performance management approach that uses job performance evaluations to identify a company's best, average, and worst perfo
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The performance management approach that uses job performance evaluations to identify a company's best, average, and worst performing employees, using person-to-person comparisons, is known as "forced ranking".

<h3>What is forced ranking?</h3>

The contentious practice of "forced ranking," which grades employees against one another rather than against performance standards, is very popular in corporate America.

The problem with forced ranking are-

  • This can lead to a lack of motivation and disengagement among employees as well as unneeded internal competition that can harm collaboration, creativity, and innovation and divert attention from market competition.
  • Although contentious, forced ranking systems are legal. Employers who choose to take action based on those rankings, however, run a number of legal dangers.

The forced rankings beneficial from an employee perspective, here are reasons-

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  • When the management system needs to be improved or formalised, forced rankings are advantageous.
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To know more about example of forced ranking, here

brainly.com/question/6626507

#SPJ4

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