Alibata Holdings Corp. and its subsidiaries has a long rich history in the country. They started in real estate but slowly expanded into other industries such as telecommunications, television, retail, consumer goods manufacturing, and holds interests in other companies in aviation, oil and gas and mining. The company and its subsidiaries have a combined net worth of 10 Billion Pesos. Having more than a dozen subsidiaries, the company is weighing its options on whether it should go into banking not just to cater to the needs of its own subsidiaries but also to be a player in the industry. But this potential venture is entirely new to the company.
Your team wants to convince the board to go into banking. Doing so would likely lead to your team being appointed as corporate officers of this new venture. Make a presentation to the board to give them a general overview on the relevant banking regulations including the different compliance requirements that needs to be done. Your team should also recommend to the board which type of bank it should operate which makes the most strategic sense for the company.
Answers
If Alibata Holdings Corp. and its subsidiaries decide to go into banking, they should consider the relevant banking regulations and compliance requirements that need to be met before launching their new venture. A presentation to the board should be made to provide them with a general overview of these regulations and requirements.
Banking regulations are in place to ensure the safety and soundness of the banking system, as well as to protect the interests of depositors and other stakeholders. Some of the most important regulations that a new bank would need to comply with include capital requirements, liquidity requirements, asset quality standards, and governance and risk management standards.
Capital requirements specify the minimum amount of capital that a bank must have in order to operate. Liquidity requirements specify the minimum amount of liquid assets that a bank must hold in order to meet its short-term obligations. Asset quality standards specify the types of assets that a bank can hold, as well as the quality of those assets. Governance and risk management standards specify the policies and procedures that a bank must have in place to manage its risks and ensure compliance with regulatory requirements.
Alibata Holdings Corp. and its subsidiaries should also consider which type of bank would make the most strategic sense for their new venture. For example, they could consider opening a commercial bank, which would allow them to offer a range of banking services to the public. Alternatively, they could consider opening a thrift bank, which would allow them to focus on providing savings and loan services to the public. Ultimately, the decision of which type of bank to open will depend on the company's strategic goals and objectives.
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Related Questions
Allied In. bought a two-year insurance policy on August 1st for $3,600. What's the adjusting journal entry on December 31st?
Answers
Answer:
1. Debit Insurance Expense- $500 Credit Prepaid Insurance $500
2. $160 Beginning...
On an individual income tax return, the Section 199A deduction ______.
A) appears on Schedule C as a trade or business deduction
B) is included in itemized deductions
C) is a deduction from adjusted gross income, reducing final taxable income
Answers
The Section 199A deduction is a deduction from taxable income, which reduces the final taxable income on an individual income tax return.
It is not reported on Schedule C as a trade or business deduction or included in itemized deductions. Rather, it is reported on Form 1040, the individual income tax return, as a separate line item. The Section 199A deduction is also known as the qualified business income deduction (QBID) and is available to eligible individuals with qualified business income from a sole proprietorship, partnership, S corporation, or other pass-through business entity.The Section 199A deduction is a deduction for qualified business income (QBI) that is available to eligible taxpayers, including sole proprietors, partnerships, S corporations, and some trusts and estates. The deduction is intended to provide tax relief to small business owners and pass-through entities, and it generally allows eligible taxpayers to deduct up to 20% of their QBI from their taxable income.The Section 199A deduction is generally taken on the individual income tax return of the eligible taxpayer, and it is reported as a deduction from taxable income on Line 9 of Form 1040. The deduction is not included in itemized deductions, but rather is calculated separately from other deductions and adjustments to income.
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Identify John Rawls and Robert Nozick's theories with two specific impacts of each of the theories on business and industry. Thoroughly explain your rationale. You may use the business or industry in which you are currently employed
Answers
John Rawls and Robert Nozick were two influential political philosophers who presented contrasting theories regarding justice and its application in society. Let's explore their theories and their potential impacts on business and industry.
John Rawls is known for his theory of justice as fairness, as outlined in his book "A Theory of Justice." Rawls argued for the principles of distributive justice, focusing on ensuring fairness and equality of opportunity in society.
1. Impact of Rawls' Theory on Business and Industry:
- Reducing Income Inequality: Rawls' theory emphasizes the fair distribution of resources and opportunities. In the business context, this could lead to efforts to reduce income inequality within organizations. Companies may strive to implement fair wage policies, ensuring that employees receive just compensation for their work.
- Promoting Corporate Social Responsibility (CSR): Rawls' theory highlights the importance of considering the needs of the least advantaged in society. In response, businesses may be more inclined to engage in CSR initiatives, such as philanthropy, community development programs, and ethical business practices, to address social and economic disparities.
Robert Nozick, on the other hand, presented a theory of justice based on libertarian principles in his book "Anarchy, State, and Utopia." Nozick argued for the primacy of individual rights and the importance of minimal government intervention.
2. Impact of Nozick's Theory on Business and Industry:
- Emphasizing Free Market Capitalism: Nozick's theory aligns with the principles of free market capitalism, which can have a significant impact on business and industry. It may encourage limited government intervention and regulation, allowing businesses more freedom to operate and innovate within the market.
- Protecting Property Rights: Nozick's theory places a strong emphasis on property rights. In the business context, this could lead to a greater focus on protecting intellectual property, fostering innovation, and providing incentives for businesses to invest in research and development.
Rationale:
The impact of Rawls' and Nozick's theories on business and industry is subjective and depends on the specific context and societal values. Rawls' theory emphasizes social justice, fairness, and equality, which could influence businesses to adopt more inclusive and equitable practices. Nozick's theory, on the other hand, prioritizes individual rights and limited government intervention, potentially fostering entrepreneurship, innovation, and economic freedom.
In my current employment in the technology industry, Rawls' theory may encourage initiatives such as equal pay policies, diversity and inclusion programs, and social impact projects aimed at reducing inequality. Nozick's theory could support the protection of intellectual property rights and the promotion of a competitive market environment that fosters innovation and economic growth.
It is important to note that the practical application of these theories in business and industry may vary, and a balanced approach considering various ethical perspectives is often necessary for a comprehensive understanding of justice and its implications in organizational contexts.
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Which of the following best explains
what a person who works in clerical
support in Public Administration
should enjoy?
A. a slow moving environment in which you must pay
attention to detail
B. a fast moving environment where you are often on
your feet and filing paperwork
C. an environment in which you are sitting for long
periods of time and working on a computer
Answers
Answer:
A
Explanation:
Choose one of the laws that protect consumers' financial rights and find three articles describing instances of financial institutions breaking this law. Write a report (about 500 words) describing the circumstances of the violation and the penalties associated with the violation.
Answers
Answer:
Consumer protections sound like it should be a guarantee in Usa, but the government never intervened to protect citizens in the 1960s.
It began mostly with 1968 Consumer Credit Protection Act, when Congress stepped on from violence to defend consumers and their financial histories.
Many regulations expanded investor protections in the years that followed, detailing how the government can obtain records from bank clients, how banks manage lenders and how lenders manage deposit accounts.
During the Great Depression of 2008, it all reached a climax and with that, the financial stability oversight Bureau was created, a new federal department committed to defending customers.
Answer:
For this report I chose to use the Truth in Lending Act. The Truth in Lending Act protects you against inaccurate and unfair credit billing and credit card practices. It requires lenders to provide you with loan cost information so that you can comparison shop for certain types of loans. This protects you from loan overdraft and over billing. This allows the consumer ease to their day of anytime they run into finacial issues. As this makes better sense to consumers it helps others all over the world. People use it in hopes that this will help them in everyday.
Explanation:
Please help!
a) Beatrice lives in a small town of 5,000 people. There are 1,500 people under the age of 16,
500 people who are retired, 2,750 people who have jobs, and 250 people who are actively
looking for work. What is the unemployment rate of Beatrice's town?
Answers
Answer:
8.33%
Explanation:
250 unemployed people looking for work / 3000-member labor force = 0.0833
3000 = 5000 (the population) minus 2000 (those who aren't part of the labor force; aka the kids and retirees)
what is the term for when businesses produce goods and services that consumers do not want
Answers
Answer:
Productive (technical) inefficiency.
Explanation:
A market failure can be defined as a situation in which the market fails to produce an efficient level of productivity or output that is required to meet consumer demand.
This ultimately implies that, a market failure arises when there is inefficiency in the distribution or allocation of goods and services in a free market.
In Economics, there are two types of inefficiency associated with the production of goods and services, these includes;
1. Allocative inefficiency: it occurs when businesses do not maximise output from the given inputs. Thus, it arises when businesses fail to increase the level of their production or productivity from a number of given inputs.
In conclusion, allocative inefficiency typically occurs when the price of a good or service isn't equal to its marginal cost i.e P ≠ MC.
2. Productive (technical) inefficiency: it occurs when businesses produce goods and services that consumers do not want. This is typically as a result of the incorrect and inefficient allocation of scarce resources by a business firm or entity.
at what age can you withdraw from 401k without paying taxes
Answers
Answer:
around the age 59 1/2
Explanation:
The withdrawls will be subject to ordinary income tax, based on your tax bracket.
Team biden
or
t r u m p
Answers
Answer:
Biden them trump supporters mad mad
When using the substitution method to solve this system of equations, which of the following represents the first step?
Answers
Explanation:
The first step in using the substitution method to solve a system of equations is to solve one of the equations for one of the variables in terms of the other variable(s). This will allow you to substitute the expression you found into the other equation and solve for the remaining variable(s).
Jake's parents were able to save $60,000 for his college tuition by the time jake graduated from high school. jake is trying to determine if he needs to work part time to make up any differences in his tuition over the next four years. he is currently estimating that tuition will be $18,000 per year, and he can earn eight percent on the balances remaining at the end of each year. how much will jake be able to withdraw each year for his college tuition if he withdraws an equal amount each year for four years? (use exhibit 1-d and round your answer to the nearest dollar amount.)
Answers
Answer:
$16,773.36
Explanation:
this is an annuity due since Jake will need to withdraw money at the beginning of the year, not the end of the year:
principal = $60,000
n = 4 distributions
interest rate = 8%
annual withdrawal = principal / annuity due factor (PV, 8%, 4 periods)
annual withdrawal = $60,000 / 3.5771 = $16,773.36
Please Help!!!!!!!!!!!!! Watch the Video and Answer the Question!
Briefly describe in your own words the history of Capitalism and Socialism. How and where did each of these systems start? Describe how each system works. Use evidence from the video to support your answer.
Capitalism and Socialism: Crash Course World History #33:
Answers
Answer:
WHAT VIDEO
Explanation:
Answer:
uhm there is no video lol send a link and maybe i can help! :)
Explanation:
a small, blockchain-based banking firm has a clan culture. its employees have generous perks and are empowered to participate and collaborate on key projects
Answers
Since the employees of this banking firm have generous perks and are empowered to participate and collaborate on key projects, it implies that a clan culture has an: internal focus and values flexibility.
What is culture?Culture simply refers to the general way of life of people in a specific society or geographical area. This ultimately implies that, culture can be defined as a sum total of the norms, beliefs, values, clothes, language, foods, and behaviors which a group of people that are living in a geographical area share in common.
What is a clan culture?A clan culture can be defined as a corporate culture model that emphasizes consensus, internal focus, flexibility, and commonality of goals and values among the employees working in a business organization (company or firm).
In this context, we can reasonably infer and logically deduce that a clan culture simply refers to a tribe-like or family-like type of corporate environment which is primarily characterized by internal focus, consensus, values, and flexibility.
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Complete Question:
A small, blockchain-based banking firm has a clan culture. Its employees have generous perks and are empowered to participate and collaborate on key projects. The end results are profitability and an enviably low 2-percent turnover rate. A clan culture has a(n):
internal focus and values flexibility.
strong external focus and values stability and control.
external focus and values flexibility.
Internal focus and values stability and control
The founder of Alchemy Products Inc. discovered a way to turn gold into lead and patented this new technology. He then formed a corporation and invested $1,200,000 in setting up a production plant. He believes that he could sell his patent for $48 million. a. What is the book value of the firm
Answers
The book value of Alchemy Products Inc. is $1,200,000, calculated by subtracting any liabilities from the total assets. However, the market value of the firm may differ significantly, as indicated by the founder's belief that the patent could be sold for $48 million.
The book value of a firm represents its net worth as recorded on its balance sheet, and it is calculated by subtracting the total liabilities from the total assets. In the case of Alchemy Products Inc., the founder invested $1,200,000 in setting up the production plant, which becomes the initial asset value of the firm. Assuming there are no liabilities or debts mentioned, the total assets of the firm would be $1,200,000.
To determine the book value, we subtract any liabilities from the total assets. Since there is no information provided about liabilities, we can assume there are none. Therefore, the book value of the firm remains at $1,200,000.
It's important to note that the book value does not necessarily reflect the market value or the true economic value of the firm. It represents the historical cost of assets and does not take into account factors such as market demand, intellectual property, brand value, or future earning potential. In this case, the founder believes they could sell the patent for $48 million, which indicates a potentially higher market value than the book value.
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When consolidating a subsidiary that was acquired on a date OTHER THAN THE FIRST DAY OF THE FISCAL YEAR, which of the following statements is correct in the presentation of consolidated financial statements?
A. Preacquisition earnings are excluded from the parent's consolidated statements.
B. Preacquisition earnings are shown as an addition to consolidated revenues and expenses
C. Preacquisition earnings are shown as a deduction from the beginning
D.Preacquisition earnings are shown as a deduction from consolidated revenues and expenses.
Explain your answer in the space provided below for full credit
Answers
When consolidating a subsidiary that was acquired on a date other than the first day of the fiscal year, the correct statement regarding the presentation of consolidated financial statements is that pre-acquisition earnings are excluded from the parent's consolidated statements (Option A).
Consolidation is the process of merging financial data from two or more firms into one set of financial statements. It is the procedure of combining the financial statements of a parent company and its subsidiary businesses into a single set of financial statements.
A parent company is a corporation that has control over one or more other businesses. A subsidiary is a business in which another firm holds a controlling stake. There are different techniques for preparing consolidated financial statements, and the appropriate technique depends on the nature of the companies that have been consolidated.
A parent corporation can acquire a controlling interest in a subsidiary at any point in the subsidiary's fiscal year. However, the issue of how to deal with the subsidiary's pre-acquisition income arises when the subsidiary's fiscal year differs from that of the parent firm. Pre-acquisition income is any income or loss generated by the subsidiary before it was acquired by the parent corporation.
When a subsidiary is consolidated and has a fiscal year that differs from the parent corporation's fiscal year, the issue of pre-acquisition income arises. Since this income is not under the parent company's control, it is excluded from the parent company's consolidated financial statements. Therefore, option A: Pre-acquisition earnings are excluded from the parent's consolidated statements is correct in the presentation of consolidated financial statements.
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When Heinz introduced its ketchup globally, it first had to deal with the fact ketchup is not a household staple outside the United States. Heinz had to show foreign users how ketchup can be used. Globally, Heinz has had to rely primarily on _____ advertising to convince consumers to want the product.
Answers
Answer:
informative advertising :)
Explanation:
Heinz had to "inform" its customers about ketchup and how it's used
define the management decision problem facing hp as it seeks to maintain and build on its leadership position in the pc market.
Answers
In addition to developing hardware for networking, computing, and data storage, HP also concentrated on developing software and offering services.
What sets HP apart from its competitors?
HP has a competitive edge in generating revenues due to its extensive product portfolio, superior R&D, brand and procurement leverage, service and support capabilities, well-established distribution networks, and ability to cross-sell a portfolio of services.
Why is it that the problem definition phase of the marketing research process is the most important one?
Before you start to gather information and perform any research, you must have a firm grasp on the goal of the study. Defining the problem you're seeking to address in marketing research will help you determine what data you'll need and how to acquire it.
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FILL IN THE BLANK. Electrical forces ____.
(static electricity)
a. can cause objects to only attract each other
b. can cause objects to only repel each other
c. can cause objects to attract or repel each other
d. have no effect on objects
Answers
Electrical forces can cause objects to attract or repel each other.
Option C is correct.
Electrical forces are one of the fundamental forces of nature that govern the behavior of electrically charged particles, such as protons and electrons. These forces arise due to the interaction between the electrically charged particles and are responsible for the attraction or repulsion of particles.
The strength of the electrical force is determined by the magnitude of the charge on the particles and the distance between them. Like charges (i.e., positive-positive or negative-negative) repel each other, while opposite charges (i.e., positive-negative) attract each other. The magnitude of the force decreases as the distance between the particles increases.
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When an advertising campaign for a new product is first launched, which type of advertising would be most helpful in building awareness?.
Answers
Answer:
Informative.
Explanation:
After a bank reconciliation has been completed these transactions are listed as ____ to the cash balance? ? need help taking A p e x quiz now!!! don't have time to be chasing a link!
A. Journal entries
B. Credits
C. Adjustments
D. debits
Answers
Answer:
A
Explanation:
After adjusting the balances as per the bank and as per the books, the adjusted amounts should be the same. If they are still not equal, you will have to repeat the process of reconciliation again.
Once the balances are equal, businesses need to prepare journal entries for the adjustments to the balance per books.
Answer:The answer is C
Explanation:
Just took the test
This is for my class in finance
What is one way to minimize the impact of unplanned spending on a budget?
I will mark brainliest !!!
Answers
Answer:
1. Work with credit card companies. ...
2. Sell your stuff. ...
3. Earn extra income. ...
4. Take on a short-term money loan. ...
5. Re-budget to live below your means. ...
6. Ask for a paycheck advance. ...
7. Make sure you're prepared for next time.
What step of the bulletproof problem-solving process helps avoid making common decision-making biases such as confirmation bias
Group of answer choices
Step-3: Prioritize the issue, prune the tree
Step-1: Define the problem
Step-6: Conduct a critical analysis
Step-4: Build a work plan and timetable
Answers
Phase Five: Conduct Critical Analyses Bias and fact manipulation can be avoided with a structured approach. Diverse teams facilitate the exchange of diverse perspectives.
What is a bias toward problem-solving?
Overconfidence is one of the biases in problem-solving. The tendency to overestimate the accuracy of our knowledge and judgments is called overconfidence. We frequently believe that we accomplish more in less time than is necessary and know more than we do. For instance, students typically anticipate completing assignments ahead of schedule.
Which three kinds of bias are there?
There are three distinct types of bias: confounding, selection bias, and information bias. Using a variety of examples, these three types of bias and the potential solutions to them are discussed.
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if $26,000 in cash dividends was declared during the year and there was no change in the dividends payable account, the presentation in the financing activities section of the statement of cash flows would be
Answers
Cash dividends of $26,000 should be presented as a cash outflow in the financing activities section of the statement of cash flows.
Cash dividends are considered a financing activity because they represent a distribution of earnings to shareholders, which reduces the company's retained earnings and equity. Since there was no change in the dividends payable account, it means that the full amount of dividends declared was paid in cash during the year. Therefore, the $26,000 should be presented as a cash outflow in the financing activities section of the statement of cash flows, along with any other financing-related transactions such as issuance of debt or repurchase of shares.
The statement of cash flows provides important information about a company's cash inflows and outflows, which is essential for evaluating its liquidity and financial health.
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Assume quantities need not be integers. Your per-period demand for public transportation
trips is M W T P (Qd) = 20 − Qd
2 . You have 2 options.
• Pay $5 for each trip you take.
• Purchase a MetroPass which will allow you to take as many trips as you would like with no
additional payments.
(1) [2 Marks] How many trips do you take per period if you do not purchase a MetroPass?
(2) [2 Marks] How many trips do you take per period if you do purchase a MetroPass?
(3) [5 Marks] What is the most you are willing to pay for a MetroPass?
Answers
As per period demand, There will be 3 trips if you take per period if you do not purchase a MetroPass.
If we Purchase a MetroPass which will allow us to take as many trips as we would like with no additional payments.
What are the definition and instances of demand?Demand is the consumer's intention and readiness to purchase a good at a specific price. For instance, if the cost rises, the buyer may hesitate and their propensity to purchase declines.
What is required in everyday life?
Demand drives the total amount of goods or services required to purchase different commodities, whereas supply is the amount of goods and services that businesses will make accessible to customers in order to turn a profit. So everything in our everyday lives, from minor commodities to huge enterprises, is based on supply and demand.
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As per period demand, There will be 3 trips if you take per period if you do not purchase a MetroPass.
If we Purchase a MetroPass which will allow us to take as many trips as we would like with no additional payments.
What are the definition and instances of demand?Demand is the consumer's intention and readiness to purchase a good at a specific price. For instance, if the cost rises, the buyer may hesitate and their propensity to purchase declines.
What is required in everyday life?
Demand drives the total amount of goods or services required to purchase different commodities, whereas supply is the amount of goods and services that businesses will make accessible to customers in order to turn a profit. So everything in our everyday lives, from minor commodities to huge enterprises, is based on supply and demand.
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Alicia is buying a new mountain bike which will cost her $1,250. She is being offered a payment plan if she does not want to pay the full amount at the time of purchase. The plan requires $350 up front and $200 each month for six months. What is the percentage increase from the original price to the payment plan price?.
Answers
The correct statement is that the percentage increase from the original price to the payment plan price will be of 24 percent for Alicia's purchase of a new mountain bike.
The calculation of the increase in percentage can be done by division of the changed price with the original price and subtracting the outcome by 100.
Calculation of increase in price
The original price for full payment was $1250. Payment plan price offers similar plan at the down payment of $350 and $200 for the next 6 months. Now the revised price will be,
\(\rm Revised\ Price= 350 + (200\ x\ 6)\\\\\rm Revised\ Price=\$1550\)
Now the increase in price can be calculated by applying the obtained and available values to the following formula,
\(\rm Increased\ Price\ Percentage= \rm [\dfrac{Revised\ Price}{Orginal\ Price}\ x\ 100]-100\\\\\rm Increased\ Price\ Percentage= \rm [\dfrac{1550}{1250}\ x\ 100] -100\\\\\rm Increased\ Price\ Percentage= 24\)
So, the price is increased by 24 percent in the payment plan.
Hence, the correct statement is that the percentage increase from the original price to the payment plan price will be of 24 percent for Alicia's purchase of a new mountain bike.
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the maya are associated with all of the following developments except question 10 options: the use of an advanced numerical annotation system of dots and bars. the founding of large cities. the ayllu system, a system that divided labor obligations among farmers. the creation of a system of writing.
Answers
Except for option d, all of the following inventions are attributed to the Maya: the ayllu system, which allocated work duties among farmers.
Except in extreme circumstances like El Nio years, when they had to rely on the Inca storage system, Ayllu were self-sufficient social units that would educate their own children and grow or trade for all the food they consumed. Every member of the ayllu owned a piece of land, and they were all obligated to one another.
The Incan empire's ayllu system was based on parentage, and each ayllu was composed of a separate group with three levels of administration: the family level, the group of families who shared a region, and a larger organizing unit that coordinated all groups.
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the accounting department should only have access to ________ since its function is to
Answers
The function of the accounting department is to record and verify changes in money and to do this, the department should have access to financial records.
The accounting department is an important department in all companies that deals with money and registers the changes of it. The functions of the department include:
Verifying money changes are accurate.Registering these changes of money.Moreover, to verify and register all changes in money, this department requires having access to all types of financial records including:
Copies of checks.Copies of receipts.Copies of any bank account transactions.Learn more in https://brainly.com/question/13815204
a copy of the list of checks; record the change in cash. (Accounting 101)
Economic sanctions are more restrictive than trade sanctions
True or False
Answers
When henrietta lacks’ tumor was harvested and distributed, what relevant recommendations of the belmont report were followed or not followed?.
Answers
The "Respect for Person" in the Belmont report was not upheld when Henrietta tumor was spread. Without her consent, the doctors removed her cells for use in general research.
What pertinent Belmont Report recommendations were carried out or not when the tumor from Henrietta Lacks was removed and distributed?The Belmont report's "Respect for Person" principle was not upheld when Henrietta tumor was spread.
Without getting her approval, the doctors harvested her cells for use in general research. Henrietta was not given the chance to choose whether or not she wanted to contribute to science. Justice was another pertinent suggestion that wasn't carried out. Due to her or her family not receiving any advantage from this contribution, justice was not carried out as well. Although everyone is still aware of what happened, neither John Hopkins nor the doctors faced any repercussions for their behavior.
The rights of Henrietta Lacks were they violated? Which ones, if any?The rights of Henrietta were openly violated. The doctors' removal of the cells was a violation of her right to consent. She consented for the tumor to be removed but not for her participation in a research study.
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PLS I NEED THREE DIFFERENCES BETWEEN NEEDS AND WANTS
Answers
Answer: yes
Explanation
What is a "need" and what is a "want"
three difrences between needs and wants. Needs and wants are two of the most common words used in our everyday language, but what is the difference between them? Generally speaking, a need is something necessary for survival, such as food or shelter. A want, on the other hand, is something desired but not necessarily necessary, such as a luxurious vacation or the latest electronic device. To better understand the differences between needs and wants, here are three key distinctions:
1. The impulse to acquire: When it comes to needs, there is often a sense of urgency and obligation associated with them. We have an impulse to acquire what we need in order to survive and thrive. Wants, however, do not have this same feeling of urgency. We may want something, but there is no real obligation to acquire it and our lives will go on without it.
2. Sources of satisfaction: Needs are typically associated with a sense of satisfaction when they are satisfied. For example, eating when you are hungry or getting a good night’s sleep after a long day. On the other hand, wants