A bank advertises it pays 4% annual interest, com pounded daily, on savings accounts, provided the money is left in the account for 5 years. What is the effective annual interest rate?
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The effective annual interest rate on a savings account of a bank that pays 4 percent annual interest compounded daily for five years is 4.16 percent.
Interest is compounded daily, and interest is calculated based on the account balance on that day. The effective annual interest rate formula is used to determine the effective annual interest rate. The effective annual interest rate is calculated using the following formula:
Effective annual interest rate = (1 + r/n)ⁿ - 1, where r is the annual interest rate, and n is the number of times interest is compounded per year. The annual interest rate on the savings account of a bank is 4 percent. Since interest is compounded daily, n = 365. Therefore, the effective annual interest rate is:
Effective annual interest rate = (1 + 0.04/365)³⁶⁵ - 1= 0.0416 or 4.16%
Thus, the effective annual interest rate on the savings account is 4.16 percent.
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Related Questions
Which meets the criteria of a good email subject line?
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A good email subject line is the one that is short, catchy, and descriptive of the content of the email. In general, the ideal length of the email subject line should be around 50 characters or less to ensure that it displays properly on all devices, including smartphones.
The subject line should convey the purpose or context of the email without being too vague or generic. It should be clear, concise, and informative, with a sense of urgency or relevance that prompts the recipient to open the email.Using capital letters, exclamation marks, or special characters can also help to draw attention to the subject line and increase the open rate. However, it is important not to overdo it as this may come across as spammy or unprofessional. Avoid using misleading or deceptive subject lines as this can lead to low open rates or even legal consequences. In summary, a good email subject line is short, descriptive, informative, and relevant to the recipient's needs or interests.
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Eugene is an expert in genealogy. he runs an online business where he teaches people how to trace their family history through videoconferencing and workshops and provides digital tools for doing so. what must he do first to make sure this business will succeed?
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Eugene should convince the people of the community about the popularity of genealogy if he wants to make his/her business successful.
What is Genealogy?Genealogy is the practice followed in the US country to find out about the history of the families and their ancestors in ancient times.
Genealogy gains much popularity in the country of the US over the period of time. In the provided case, if Eugene is able to convince the people about the practice of genealogy, then it helps in flourishing his business to a greater extent.
Therefore, the task of convincing people about genealogy by Eugene help him in expanding his business.
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I have 1 F and 2 D's in my business class, Language arts, and science, because I have to study for another school which takes up a lot of my homework time. (Online School) Please help (┬┬﹏┬┬)
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Answer:
I'm not sure how to help other than to tell you that you've got this! I am an AP and a dual-enrollment student, so I completely understand.
which market structure is defined by a single producer?
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Answer:
Monopoly. A condition that has none of the requirements for a competitive market such as adequate competition, knowledge of prices and opportunities, mobility of resources, and competitive profits is called a(n)
Explanation:
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mutual funds are less risky and can outperform the stock market because . . .
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Due to their higher level of diversification, or the fact that they include a variety of investments, mutual funds are typically less hazardous than individual equities. They still involve risk, though, as the value of the shares can decrease if the market or the underlying companies have financial troubles.
What is in a mutual fund?
A pooled collection of assets known as a mutual fund invests in stocks, bonds, and other securities. When you purchase a mutual fund, you acquire a more diversified holding than you would with an individual security, and if you meet the minimum investment criteria, you can benefit from the ease of automatic investing. The wash-sale rule forbids disposing of an investment at a loss and replacing it within 30 days with the same or an investment that is "substantially comparable." If you do have a wash sale, the IRS won't let you deduct the investment loss, which could result in greater taxes than you had intended for for the year.
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One of Coppertone's marketing tactics is the sponsorship of the men's and women's Olympic soccer teams. To many of the over 3 million boys and girls playing youth soccer in the United States, the U.S. Olympic soccer teams are a(n) ________ group.
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One of Coppertone's marketing tactics is the sponsorship of the men's and women's Olympic soccer teams. To many of the over 3 million boys and girls playing youth soccer in the United States, the U.S. Olympic soccer teams are a(n) aspirational group.
To many of the over 3 million boys and girls playing youth soccer in the United States, the U.S. Olympic soccer teams are an aspirational group. These young players may look up to the Olympic teams as role models and aspire to one day play at that level themselves. The sponsorship of the Olympic soccer teams by Coppertone could potentially inspire these young players to use Coppertone products to protect their skin while playing soccer, as they see their favorite players using them.
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recording revenue from a sale even though the rights and risks of ownership have not yet passed to the purchaser is an example of what type of fictitious revenue scheme?
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Recording revenue from a sale even though the rights and risks of ownership have not yet passed to the purchaser is an example of a fictitious revenue scheme known as "bill and hold" or "ship and debit."
This type of scheme is considered fictitious because it inflates revenue figures by recognizing sales that have not actually been completed or shipped. The company essentially records revenue for a sale that has not yet occurred, and may delay the actual delivery of the product until a later time.
This type of scheme is fraudulent and misleading, as it can give investors and stakeholders a false sense of the company's financial health and performance. It is important for companies to accurately record revenue and only recognize it when the sale has been completed and the risks and rewards of ownership have transferred to the purchaser. Proper accounting practices and internal controls can help prevent fictitious revenue schemes and ensure accurate financial reporting.
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for the basic eoq model, how many units should be ordered each time that an order is placed?
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The Economic Order Quantity (EOQ) is a formula that helps to compute the perfect quantity of goods to order in order to minimize inventory costs.
The basic Economic Order Quantity (EOQ) model formula is a methodology for determining the optimum quantity of an item a company should order in order to minimize inventory costs while still meeting demand. The basic EOQ formula is given as: EOQ = √[(2DS) ÷ (H)] where: D = annual demand (quantity used in a year)S = cost per order (the cost of placing one order)H = holding cost per unit per year (cost to store one unit for a year)Therefore, the amount of units to be ordered when an order is placed is given by the Economic Order Quantity (EOQ) formula.
The Economic Order Quantity (EOQ) is the ideal order quantity for a company to buy in order to minimize inventory costs. EOQ is used in a variety of industries to find the optimal inventory level to order the lowest possible cost-per-order while still meeting customer demand.
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The three primary reactions people have to attempts to manage or influence them are
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Answer:
Resistance, Compliance, or Commitment.
Explanation:
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does anyone have a way or trick on using like blocked websites on a school chromebook?
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Just like in the team project, you are the project manager for a home construction company. Another tropical storm is on the way. You are familiar with the possible costs and risks if the storm hits and causes a two week delay since you experienced the storm that hit your San Leo home while it was under construction. You are currently building another San Leo home, and it is essentially in the same condition as the previous home was on July 1. You have two choices: accept the risk that the storm will not hit, or accelerate the construction to get the roof and shingles on before the storm is scheduled to make landfall. If the storm hits while the roof is under construction but not finished, you will have to reconstruct half of what was completed for a cost of $12,000. The weather channel predicts a 60 percent chance of the storm making landfall close enough to your location to cause this damage. If you accelerate construction, it will cost you $8,000.
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As the project manager for a home construction company, you are faced with the decision of accepting the risk of a potential storm or accelerating the construction to mitigate potential damage.
The cost of reconstruction in case of a storm is $12,000, while accelerating construction would incur a cost of $8,000. The weather channel predicts a 60% chance of the storm causing damage.
The decision in this scenario depends on assessing the potential costs and risks associated with the storm. If the storm hits while the roof is under construction but not finished, reconstruction of half of the completed work will be required, costing $12,000. On the other hand, accelerating the construction to complete the roof before the storm is estimated to cost $8,000.
To make an informed decision, you need to evaluate the probabilities and costs involved. The weather channel predicts a 60% chance of the storm causing damage. Considering this probability, you can calculate the expected cost for each option.
For the first option of accepting the risk, the expected cost is calculated by multiplying the cost of reconstruction ($12,000) by the probability of the storm causing damage (60%). The expected cost would be $7,200.
For the second option of accelerating construction, the cost is fixed at $8,000.
Comparing the expected cost of accepting the risk ($7,200) to the cost of accelerating construction ($8,000), you can determine which option is more favorable. If the expected cost is lower than the cost of accelerating, accepting the risk would be the more cost-effective choice. However, if the expected cost exceeds the cost of accelerating, it would be more beneficial to choose the acceleration option.
By considering the probabilities, costs, and potential consequences, you can make an informed decision that aligns with the best interests of the construction project and the company.
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Molzahn Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company has supplied the following data for the just completed year:
Estimated total manufacturing overhead at the beginning of the year $481,250
Estimated direct labor-hours at the beginning of the year 35,000 direct labor-hours
Results of operations:
Actual direct labor-hours 40,000 direct labor-hours
Manufacturing overhead:
Indirect labor cost $ 179,000
Other manufacturing overhead costs incurred $ 465,000
Answers
Answer:
The results are below.
Explanation:
First, we need to calculate the predetermined overhead rate:
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 481,250 / 35,000
Predetermined manufacturing overhead rate= $13.75 per direct labor hour
Now, we allocate overhead based on actual hours:
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 13.75*40,000
Allocated MOH= $550,000
Finally, the under/over applied overhead and the closing to cost of goods sold:
Under/over applied overhead= real overhead - allocated overhead
Under/over applied overhead= 644,000 - 550,000
Underapplied overhead= $94,000
When overhead is underapplied, we need to debit the cost of goods sold.
COGS 94,000
Manufacturing overhead 94,000
1. Assume that United States companies spent approximately $8 billion on paper last year. One company
estimated that it saved $100,000 in paper costs in one year when it replaced paper processing with
computer tablets. How many companies would have to save $100,000 to cover the annual cost of paper
used in the United States in one year?
Answers
Answer:
80000 companies (8 billion : 100000)
Table 1 contains information about the number of new business start-ups in four cities in the UK in 2016.
Using the information in Table 1, calculate, to 2 decimal places, the number of new start-ups in Birmingham as a percentage of the number of new start-ups in London. You are advised to show your workings.
Answers
The number of start-ups in Birningham as a percentage of the start-ups in London is 8.51%.
What are percentages?
Percentage is a measure of frequency. It is the fraction of an amount that is usually expressed as a number out of hundred. The sign used to represent percentages is %.
The number of start-ups in Birningham as a percentage of the start-ups in London = (17473 / 205320) x 100 = 8.51%
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In preparing a company's statement of cash flows using the indirect method, the following information is available:Net income $ 52,000Accounts payable decreased by 18,000Accounts receivable increased by 25,000Inventories increased by 5,000Depreciation expense 30,000Net cash provided by operating activities was:
Answers
Answer:
Statement of cash flows using the indirect method
Net income $52,000
Adjustments to net income:
Depreciation expense $30,000Increase in accounts receivable ($25,000)Increase in inventories ($5,000)Decrease in accounts payable ($18,000) ($18,000)net cash flow provided by operating activities $34,000
in order for a business to be "sustainable", it must produce only how much waste?
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In order for a business to be considered "sustainable," it aims to minimize waste as much as possible. The goal is to adopt practices that reduce, reuse, and recycle resources to minimize the generation of waste.
While the ideal is to produce zero waste, it may not always be achievable in practical terms. However, the focus is on implementing strategies and initiatives to significantly reduce waste generation and move towards more sustainable practices.
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nursing is a humanitarian service give reason
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PLS HELP WILL GIVE BRAINLIEST!!!!
which of the following questions might be asked by an economist who is using critical thinking to a solve a problem?
a. All of these choices are correct.
b.Which principles of command economy have the most negative effects on competition?
c.How could social security and Medicare better use their resources to expand benefits?
d.How might a hurricane in Florida affect the prices of crops grown in the state?
Answers
Answer:
the answer is A because all are correct
The question that might be asked by an economist who is using critical thinking to solve a problem is whether All of these choices are correct. Thus the correct option is A.
What is critical thinking?When using their critical thinking skills, people can decide for themselves what they should indeed or are not supposed to believe. They possess the capacity to reflect and engage in individualism in order to reach well-informed decisions.
Which tenets of the command economy harm competition the most? How Social Security and Medicare could use their resources more effectively to increase payouts will aid economists in finding a solution to a problem.
This questions helps him to identify better answers through research and helps economists to find a better conclusion to deliver an optimum solution to the problem.
Therefore, option A is appropriate.
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jonesville produces widgets an gadgets, and its ppc is linear. it takes 5 hours of labor to produce a gadget and 10 hours of labor to produce a widget. suppose that jonesville has 100 hours of labor. what is the maximum number of widgets it can produce?
Answers
20 widgets
What is widgets?
A software widget is an application or component designed for one or more software platforms that is quite straightforward and simple to use. A desk tool or applet is an illustration of a straightforward, standalone user interface, as opposed to a more intricate application like a spreadsheet or word processor.
In order to quickly access specific information from apps without having to launch the program itself, widgets can be placed to your phone's home screen. The Calendar widget is one example, which provides you with a quick glance of the events on your calendar without requiring you to open the Calendar application.
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If the price of a pencil is $1.00 and the price of a pen is $2.00, what is the relative price? If the pencil
is $1.50 and the pen is $3.002 If the pencil is $2.00 and the pen is $3.00?
Answers
If the price of a pencil is $1.00 and the price of a pen is $2.00. 3 dollars will be the relative price.
$1 + $2 = $3
A price relative is the ratio of the charge of a selected product in a single period to the rate of the identical product in a few different period. In buying power parity (PPP) comparisons a rate relative refers to the ratios of the equal product in two international locations.
The nominal price of a great is its value in phrases of cash, including bucks, French francs, or yen. The relative or actual rate is its fee in terms of some other suitable, carrier, or package of goods.
Relative-price movements convey critical facts approximately the scarcity of specific items and offerings. A growing relative charge suggests that call for is outstripping deliver (or that supply is falling at the back of call for), while a falling relative price denotes just the other.
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Financial ratios can reveal a lot about a company's liquidity, activity, and profitability. question content area bottom part 1 true false
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Financial ratios can reveal a lot about a company's liquidity, activity, and profitability. This statement is True.
A Financial ratios or accounting ratio is a relative importance of decided on numerical values taken from an enterprise's economic statements. Often utilized in accounting, there are many popular ratios used to try to evaluate the overall financial situation of a enterprise or different enterprise.
What's the best Financial ratios?
A working capital ratio of 2 or higher can suggest wholesome liquidity and the capability to pay quick-time period liabilities.
What are Financial ratios in enterprise?
A financial ratios is a measure of the relationship between two or more additives at the organization's economic statements. Those ratios provide you with a quick and straightforward manner to song performance, benchmark in opposition to the ones within an enterprise, spot hassle and proactively put answers in location.
Why are Financial ratios important?
Financial ratios provide entrepreneurs a way to evaluate their enterprise's overall performance and compare it different comparable agencies of their enterprise. Ratios degree the relationship between or extra additives of monetary statements. they may be used maximum efficiently whilst consequences over several periods are compared.
How do you improve Financial ratios?
To improve your Financial ratios associated with liquidity, you must take a number of steps: analyze your brief term liabilities to make sure that the debt you are incurring is justified. In case you don't want to incur an cost, don't. display your inventory stage and determine whether or not or now not it's being managed correctly.
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match each type of area with the correct level of housing prices?
URBAN
EXURBAN
SUBURBAN
LOW HOUSING PRICES
MEDIUM HOUSING PRICES
HIGH HOUSING PRICES
Answers
Answer and Explanation:
The matching of the area with the level of housing prices is as follows
Urban = High housing prices
As urban refers to that area in which there is a large population so of course the prices of the houses are high
Exurban = Low housing prices
The exurban is located in the rural areas in which there are less populations as compared to sub
Suburban = Medium housing prices
In this the population is more than the exurban
I got this question on my quiz a few weeks ago and was wondering if anyone could explain the best/correct answer.
I'm currently leaning towards the last option, but I'm not sure.
Answers
Answer:
Easy it's B, this is because the rate at which we earn interest with only 1000$ does not keep up with the maintenance fee.
In B u get $1010 because of the interest after the first year,
In D u get $960 because if u get an annual interest of 2% from $1000 u get a total of $1020 but deduction from maintenance fee is $60 per year, Thus $1020-$60 = $960. Same explaination for the others as well.
Elise works in New York and developed a geothermal project that was opening in Atlanta. She noticed the project is due next week and is not complete. She had to quickly go to Atlanta to put the finishing touches on the project. Which qualifications are best being used by Elise to complete her job? O willingness to travel and mechanical knowledge O knowledge of geography and physical stamina O customer service and mechanical knowledge O stress management and willingness to travel
Answers
Answer: stress management and willingness to travel
Explanation:
Based on the scenario described in the question, Option A and C are both wrong as she doesn't need mechanical knowledge. Mechanical knowledge has to do with one's ability to be able to understand and use tools. She also doesn't need customer service as she isn't attending to customers or anyone.
Since she had to quickly go to Atlanta to put the finishing touches on the project, what she needs is her ability to manage stress and also her willingness to travel.
Answer:
D, Stress management and willingness to travel.
Explanation:
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Which promotion method specifically aims to persuade a large group of
customers to buy more of a product?
Answers
Answer:
Sales Promotion
Explanation:
The sales promotion method specifically aims to persuade a large group of customers to buy more of a product.
What do you mean by the sales promotion?A sales promotion is a type of marketing activity intended to boost sales, foster client loyalty, or raise brand awareness.
It typically entails providing a discount or some other incentive to encourage clients to purchase your goods or interact with your business.
Consumer, trade, and sales force promotions are three different categories of sales promotion.
Consumer promotion, trade promotion, and sales force promotion are the three different ways that sales promotion can be done.
These sales marketing strategies are frequently referred to as tools or techniques.
Therefore, the sales promotion method specifically aims to persuade a large group of customers to buy more of a product.
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the command climate assessment is coordinated by what individual
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The command climate assessment is typically coordinated by a designated individual within an organization or military unit.
The specific individual responsible for coordinating the assessment may vary depending on the structure and policies of the organization. In many cases, it is the responsibility of the unit commander or a designated senior leader within the organization.
This individual ensures that the assessment is conducted, collects the necessary data or feedback from personnel, analyzes the results, and takes appropriate actions based on the findings to improve the command climate and address any identified issues or concerns.
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The Command Climate Assessment is coordinated by the Commanding Officer or a similar leadership role within the organization. In the broader context of climate change assessment, leaders like Susan Solomon or Antonio Guterrez fulfill this role.
Explanation:The Command Climate Assessment is typically coordinated by the individual leading an organization, most commonly referred to as the Commanding Officer or Commander. This individual is responsible for fostering a positive command climate within their organization. The Command Climate Assessment involves gathering and assessing data related to the perceptions, attitudes, and experiences of personnel within the organization.
For instance, in the context of climate change, leaders such as Susan Solomon, an atmospheric and climate scientist, act as coordinators for climate assessments. Similarly, Antonio Guterrez, the Secretary-General of the United Nations, delivered remarks on climate change, indicating a leadership role in the climate assessment of our globe.
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Explain how Long Tail strategy can create profitability for
businesses and also give a resonable example in your own words.
Computer applications subject
Answers
This method enables firms to create profitability in two ways: Firstly, it enables firms to sell numerous niche items with smaller volumes, which lowers inventory expenses. Secondly, the Long Tail strategy emphasizes the value of improving consumer satisfaction by catering to their specific needs. To explain how the Long Tail strategy can create profitability for businesses, let us take the example of Amazon. Amazon has successfully adopted the Long Tail approach by offering a wide selection of goods, allowing users to easily access a vast range of niche products.
The Long Tail strategy refers to an approach to business management that emphasizes the significance of developing and selling a large number of niche items in smaller volumes instead of concentrating on selling a small number of popular items in higher volumes. This method enables firms to create profitability in two ways:
Firstly, it enables firms to sell numerous niche items with smaller volumes, which lowers inventory expenses. In comparison to mainstream commodities that typically require large quantities, niche products generally require lower inventory expenses.
Secondly, the Long Tail strategy emphasizes the value of improving consumer satisfaction by catering to their specific needs. This can result in more loyal consumers, as well as increased word-of-mouth advertising, which can help businesses in gaining more customers and drive sales.
To explain how the Long Tail strategy can create profitability for businesses, let us take the example of Amazon. Amazon has successfully adopted the Long Tail approach by offering a wide selection of goods, allowing users to easily access a vast range of niche products.
As a result, consumers can effortlessly find exactly what they want, resulting in greater customer satisfaction. In addition, by catering to niche markets, Amazon has been able to increase customer loyalty while decreasing inventory expenses.
In conclusion, the Long Tail strategy emphasizes the significance of developing and selling niche items in smaller volumes to create profitability for businesses.
This can be achieved by lowering inventory expenses, improving consumer satisfaction, increasing customer loyalty and sales, and reducing overhead costs.
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state law of diminishing returns
Answers
Answer:
see below
Explanation:
The law of diminishing marginal returns indicates that in every production process, adding one more input while holding the others constant will result in the overall decrease in output.
According to this law, adding one more production unit diminishes the marginal returns, and the average production cost increases. Marginal returns refer to the benefits associated with the production of an extra unit.
The gain derived from the use of more input while keeping all other factor constant decreases as production increases. For example, employing more workers while all other variables remain constant will result in reduced labor productivity.
Accounting affects the different types of businesses because taxes are handled differently, it does not affect the ability to gain money, and it can affect initial and recurring costs. True or False?
Answers
Answer: Your answer will be TRUE
If a company's scope is too big, what is likely to happen?
A.
The company will face more conflicts of interest.
B.
Employees will participate in a SWOT analysis.
C.
Employees will have better morale.
D.
The company will lose direction and focus.
Answers
Answer:
d is correct
Explanation: