John Little is known for his queueing theory which is basically a theory on the probability of a customer waiting in the same line. This is applicable in every establishment that does first come, first serve basis. The probability of a person staying in line, and not changing to other lines, is expressed by the so-called Little law. It states that the average number of customers in the waiting line is equal to the average effective arrival ate multiplied with the average time that the customer spends in the waiting line. This law is very useful and valid because it does not count into factors the miscellaneous things like process distribution, service distribution, service order, etc.
Answer:
b. the principal's acceptance of responsibility for an agent's activities.
Explanation:
A principal may ratify or disown the activities of a person or an agent who acts above his/her mandate. Where a principal ratify the activity of the agent, it is called agency by ratification.
Sometimes, an agent may perform or carry out activities beyond his/her mandate eventhough this is stated in the law, the principal is also empowered to ratify or disapprove such activities as there are rules governing such approval or disapproval.
Rules governing agency by ratification are ;
-There must be contractual capacity on the part of the person who is ratifying
- The person acting as agent must be intended to be seen as such
-The principal must exist at the point activity is being carried out
-The principal must have full knowledge of the material fact.
-The ratification may be implied or express.
The mixed number for this fraction is 0.93 repeating
Answer:
debit advertising expense for 1,000, debit supplies inventory for 1,000, and credit accounts payable for 2,000
Explanation:
The correcting entry is
Advertising expense Dr$1,000
Supplies inventory Dr $1,000
To Accounts payable $2,000
(being the correct entry is recorded)
here the advertising expense and inventory is debited as it increased the expenses & assets and credited the account payable as it also increased the liabilities
A customer has a long margin account with no SMA. if the market value of the securities rises, sma will increase by 50% of the increase in market value.
SMA balances are increased in value by cash deposits in brokerage accounts. The SMA also retains interest and dividend payments from long positions and earnings from closing security positions. Clients can use SMA funds to purchase additional securities for their margin accounts.
The SMA of long-margin accounts decreases when the market value decreases. The long account's SMA volume only decreases as it is used and is not affected by market value declines.
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