According to the lower of cost or market rule, the amount included in inventory would be $54, the lower of the cost of the item and its current replacement cost. The correct option is c.
The lower of cost or market (LCM) rule is an accounting method that requires inventory to be reported at the lower of its historical cost or its market value. The market value is determined by the replacement cost, which is the cost that would be incurred to replace the inventory with new inventory of the same type and quantity.
In this case, the cost of the item of inventory is $54, and the current replacement cost is $64. Therefore, according to the lower of cost or market rule, the amount included in inventory would be $54, which is the lower of the two values.
This is because the replacement cost of $64 is greater than the cost of $54, and the LCM rule requires inventory to be reported at the lower of the two values. In other words, if the market value of inventory falls below its historical cost, the inventory must be written down to the lower market value.
The correct answer is option C, $54, which is the amount included in inventory according to the lower of cost or market. This adjustment ensures that the inventory is not overstated on the balance sheet and provides a more accurate representation of the true value of the inventory on hand.
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Helen inherited some money from her grandmother. She decided to open a coffee shop. She explored the main market area near her house to scope out the competition. The competitors were all famous branded coffee houses. They heavily advertised their coffee and had a lot of brand awareness among the customers. They sold their coffee at a low price, because they could divide the cost of operations over a large number of sales. There was an area near a business center that seemed distant from these branded coffee houses. She decided to rent this location for her shop. She realized that she would also need to serve coffee that at least equalled the standards of the branded coffee houses.
Answer:
Helen decided to rent her shop in this location.
Explanation:
Helen choose to rent her shop in the location where there are many competitors. The competitors are well established branded coffee houses who serve coffee to their customers at very low price. In this situation customers will not move to any new coffee house. So Helen decided differentiating her coffee shop from other coffee houses and she decided to open a coffee shop where there are less or no competitors available.
what type of listing should an owner insist on if he wants to be sell the property himself and pay no commission as well as have one broker market the property for an agreed upon percentage of the sales price?
a, an exclusive-right-to-sell listing
b. a net listing
c. an exclusive agency listing
d. an open listing
If an owner wants to sell a property himself and pay no commission as well as have one broker market the property for an agreed upon percentage of the sales price, then the type of listing the owner should insist on is a net listing.A net listing is a type of listing in which the seller sets a minimum price they will accept for the property and agrees to pay the broker any amount over that price. The broker's commission is the difference between the selling price and the minimum price agreed upon. In other words, the broker's commission is based on the difference between the net price and the selling price.Therefore, the answer is option B, a net listing.
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Mention five legal ways to spend money
Some ways that you can spend money legally are:
Buying booksGoing on a vacationBuying a companyGiving to the poor or a charityEmploying laborWhat is Money?This refers to the legal tender that is used for the buying and selling of goods and services that have an inherent value
Hence, we can see that based on the given question, money can be spent in a variety of ways legally and this includes starting a business, giving to the poor, etc.
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Agency authority directly communicated by the principal to the agent is called
O Express authority
O Implied authority
O Power of attorney
O Apparent authority
Answer:
O Express authority
Explanation:
In express authority, the principal communicates directly to the agent. The principal instructs the agent, either in writing or orally, to act on their behalf. In express authority, the directives given are for the agent to represent the principle on a specific matter. The scope of authority entrusted is clearly defined and understood by both parties.
global proximity systems (gps) is initiating a new project initiative that is controversial and involves fractional resources from several functional areas of the company. what are some actions that a pm can take to avoid the storming stage of team development?
All of the above are some actions that a pm can take to avoid the storming stage of team development Thus, option D is correct.
What is the company?A corporate structure that is distinct from its shareholders legally is a corporation. Due to additional reporting and elevated legal duties, the business structure is more complicated and has greater setup and administration expenses.
Establish guidelines for the company and broadcast them. Hold a well-planned start meeting to establish roles, establish goals, and define expectations. At the first sign of tension or confrontation, take the initiative to step in, defuse the situation, and make the necessary corrections.
Global proximity systems (GPS) is starting a new program endeavor that is contentious and uses sporadic personnel from a number of the bank's functional divisions. Therefore, option D is the correct option.
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The question is incomplete, the complete question will be:
Publish and create ground rules for the team
Hold a well-organized kickoff meeting to make goals and set roles and expectations
Be proactive at the slightest hint of stress or conflict and intervene to deescalate and correct the situation
All of the above
in order to require banks to hold more money as opposed to lending it, the federal reserve can —
In order to require banks to hold more money as opposed to lending it, the federal reserve may expand the amount of money in circulation by reducing the reserve requirements for banks, allowing them to provide more loans. The Fed may reduce the amount of money in circulation by increasing the reserve requirements for banks, on the other hand.
What is a federal reserve?Generally, The United States of America's central banking system is called the Federal Reserve System. With the passage of the Federal Reserve Act on December 23, 1913, it was established in response to the need for centralized management of the monetary system to prevent financial crises after a string of financial panics.
The federal reserve may increase the quantity of money in circulation by lowering the reserve requirements for banks, enabling them to provide more loans, in order to force them to keep more money as opposed to lending it.
On the other side, the Fed may decrease the quantity of money in circulation by raising the reserve requirements for banks.
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Several companies produce latex gloves that are used in a variety of different industries. If one of the glove manufacturers decreases its price by just a few percentage points, it will result in a significant increase in quantity demanded. The demand for latex gloves is:
Answer: elastic
Explanation:
From the question, we are told that several companies produce latex gloves which are used by different industries. We are further told that when one of the glove manufacturers reduces its price by just a few percentage points, this will result in a significant increase in quantity demanded.
Based on the explanation above, we can reduce that the demand for latex gloves is elastic. Elastic demand occurs when a change in price brings about a large change in the quantity demanded of a particular product. This is the scenario that happened regarding the latex gloves.
Upon dissolution of the partnership, one -third of the goes to each of its three founding partners. Since Partner Abel is deceased, his portion is split evenly among his four heirs. What portion of the company's value does each of these heirs receive?
Upon the dissolution of the partnership, the portion that would have gone to Partner Abel is split evenly among his four heirs, resulting in each heir receiving 1/4th (25%) of the company's value.
In this scenario, with three founding partners and the dissolution of the partnership, the value of the company is divided equally among the partners, resulting in each partner initially receiving 1/3rd (33.33%) of the company's value.
However, since Partner Abel is deceased, his portion is distributed among his four heirs.
Since the portion that would have gone to Partner Abel is now split evenly among his four heirs, each heir would receive an equal share. Therefore, each heir receives 1/4th (25%) of the company's value. This distribution ensures fairness and equal treatment among Partner Abel's heirs.
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Martha and Oleg are competitors in a local market and each is trying to decide if it is worthwhile to advertise. If both of them advertise, each will earn a profit of $5,000. If neither of them advertise, each will earn a profit of $10,000. If one advertises and the other doesn't, then the one who advertises will earn a profit of $15,000 and the other will earn $7,000. To earn the highest profit, Martha
a. should advertise, and she will earn $5,000.
b. should advertise, and she will earn $15,000.
c. should not advertise, and she will earn $10,000.
d. has no dominant strategy
Answer:
d
Explanation:
Dominant strategy is the best option for a player regardless of what the other player is playing.
The payoffs for Martha if she advertises is either $5000 or $15000
if she does not advertise, it is either $10,000 or 7000
looking at these figures, there is no option that consistently yields a better option. thus there is no dominant strategy
If for example,
The payoffs for martha if she advertises is either $5000 or $15000
if she does not advertise, it is wither $3,000 or 7000
Advertising consistently yields a better option, thus her dominant strategy would be to advertise
You have three electricians. Electrician #1 works 20 hours and installs 30 lights. Electrician #2 works 30 hours and installs 35 lights. Electrician #3 works 40 hours and installs 40 lights. Which electrician is the most efficient in installing lights?
Answer:
electricians 1
Explanation:
This covers both the installation of new electrical systems and the modification of existing ones. These include installing new lighting fixtures, so a licensed contractor is required.
What is the role of electricians in installing lights?To ensure that the light fixture will stay in place, they must make sure that it is securely fastened to the wall or ceiling.
In order for the light fixture to have the electricity it needs to function, they will also need to connect the electrical wiring to it.
Unless you have prior electrical experience, you should always hire a licensed electrician for any electrical installation, including installing a light fixture.
Therefore, Electrician #1 works 20 hours and installs 30 lights. Electrician is the most efficient in installing lights.
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PLEASE HELP MEE 50 Pts
Question: What are the local, state, and federal taxes for a healthcare business?
Answer:
Is health care federal state or local?
The U.S. Department of Health and Human Services is the federal government's principal agency involved with health care services. The states cofund and administer their CHIP and Medicaid programs according to federal regulations. (goo gle)
Explanation:
hope this helps
7. Which of the following do retailers use most often to determine how much their products will sell?
Retailers often use a variety of factors to determine how much their products will sell, including market research, sales data, and industry trends. However, one of the most common tools used by retailers is demand forecasting.
Demand forecasting involves using historical sales data and market trends to predict future demand for a particular product. Retailers can use this information to make informed decisions about how much inventory to order, how to price their products, and how to allocate resources to promote their products.
There are several different methods of demand forecasting, including statistical models, customer surveys, and expert opinions. Each method has its strengths and weaknesses, and retailers may use a combination of methods to get a more accurate picture of future demand.
Ultimately, retailers rely on demand forecasting to ensure that they have the right products in the right quantities at the right time. By accurately predicting future demand, they can avoid stock shortages and overstocking, optimize pricing strategies, and maximize profitability.
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Which of the knowledge management systems IS activities involves enterprise applications?
The knowledge management system's IS (Information Systems) activities that involve enterprise applications are typically categorized under the "Implementation" phase.
This phase focuses on deploying and integrating enterprise-wide applications and technologies to support knowledge management initiatives. Enterprise applications refer to software systems that are designed to support various business functions and processes across an entire organization. These applications are often large-scale and are used to manage critical areas such as customer relationship management (CRM), enterprise resource planning (ERP), supply chain management (SCM), and human resources management (HRM).
In the context of knowledge management systems, enterprise applications play a vital role in facilitating the capture, storage, retrieval, and sharing of knowledge within an organization. They provide a platform for employees to access and contribute to the organization's knowledge base, collaborate on projects, and leverage collective expertise.
Examples of enterprise applications used in knowledge management systems include:
1. Content Management Systems (CMS): These applications facilitate the creation, organization, and publishing of digital content, such as documents, articles, and multimedia files.
2. Collaboration Tools: Enterprise collaboration platforms enable real-time communication and collaboration among employees, allowing them to share knowledge, work on projects collectively, and engage in discussions.
3. Document Management Systems (DMS): These applications provide a centralized repository for storing and managing documents, ensuring version control, access control, and document retrieval.
4. Learning Management Systems (LMS): LMS platforms support the creation and delivery of online training and learning materials, enabling organizations to promote knowledge sharing and upskilling among employees.
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the equilibrium business cycle model predicts that the______
The equilibrium business cycle model predicts that the economy will naturally fluctuate around a long-term equilibrium level.
This means that over time, the economy will move through different phases of expansion and contraction, but it will eventually return to a stable level of output, employment, and prices.
The model assumes that the economy is characterized by rational agents who have perfect information and make decisions based on maximizing their utility. These agents interact in markets that are perfectly competitive, meaning that there are many buyers and sellers, and no individual can influence the market price.
The equilibrium business cycle model suggests that these market forces will cause the economy to move through different stages of the business cycle, including expansion, peak, contraction, and trough. During the expansion phase, output and employment are increasing, and prices are rising. The peak represents the highest point of the cycle, after which the economy begins to contract. During the contraction phase, output and employment are decreasing, and prices are falling. The trough represents the lowest point of the cycle, after which the economy begins to expand again.
Overall, the equilibrium business cycle model suggests that the economy will tend towards a long-run equilibrium, but that short-run fluctuations are a natural and expected part of the economic cycle.
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Which is a requirement for an acceptance?
mirror image of offer
intent to contract
communicated
all of the above
All of the above
The offer must be mirrored, the first party must have an intent to contract, and that intent must be communicated for the second party to know, for sure, that a specific contract is agreed upon for acceptance.
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According to the interest-rate effect, aggregate demand slopes downward (negatively) because a. lower prices reduce money holdings, increase lending, interest rates fall, and investment spending increases. b. lower prices increase the value of money holdings and consumer spending increases. c. lower prices increase money holdings, decrease lending, interest rates rise, and investment spending falls. d. lower prices decrease the value of money holdings and consumer spending decreases.
Answer:
a. lower prices reduce money holdings, increase lending, interest rates fall, and investment spending increases.
Explanation:
as per the interest rate effect, the aggregate demand would slope downward or negative when there is less price that decrease the holding of the money also it would rise the lending, the rate of interst would be decline and the investment spending would be rise up
So according to the given situation, the option a is correct
And, the same would be considered
under an open-end loan calling for obligatory future advances, the borrower is able to secure additional
Under an open-end loan with obligatory future advances, the borrower can secure additional funding from the lender as needed.
This type of loan allows for flexibility in borrowing, as the borrower does not need to apply for a new loan each time they require more funds. The borrower can simply request additional advances from the lender, subject to the terms and conditions of the loan agreement. The lender may set a credit limit for the borrower and may require periodic reviews of the borrower's creditworthiness to ensure that the loan remains secure. The borrower may be required to make regular payments on the outstanding balance of the loan, including interest, fees, and charges. The borrower can also choose to repay the loan in full at any time, subject to any prepayment penalties or fees that may apply.
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What is a small business according to the SBA?
It uses firm income (from $1 million including over $40 millions) and employment to define small businesses (from 100 to 1,500 employees).
SBA stands for what in a small business?Its U.S. Small Business Agency (SBA) supports Americans in establishing successful enterprises and fostering their growth. For instance, a roofing company is considered a small business by the SBA if their yearly sales are $16.5 million or less. A small business is described as a company that employs a small number of people, usually less than 500, and runs separately from bigger organisations. A sole proprietor or a small group of owners often run and own small firms, which are usually privately owned and operated.
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Trader's Paradise Trader's Paradise is a global merchant that sells a variety of products. The company operates in forty-eight different countries (some developed, some developing) and some former communist countries. The company faces substantial risks given the differing conditions in foreign exchange markets.
To insure against potential losses that result from adverse changes in exchange rates, Trader's Paradise should use currency
A. Swap
B. speculation
C. hedging
D. arbitrage
If Trader's Paradise purchases and sells the euros simultaneously in different markets for profit, it would be engaging in currency
A. Swap
B. speculation
C. hedging
D. arbitrage
Answer:
c
d
Explanation:
You want to own a photography studio and you open one that specializes in wedding
photography. After 6 months though, your studio fails and you close down. Read the
following scenarios and pick which one you think you should do next.
Answer:
Explanation:
Open another photography studio that specializes in wedding photography.
Open a photography studio that offers a wider range of services, such as portrait photography, event photography, and commercial photography.
Take a break from photography and explore other career options before deciding on your next steps.
Based on the information provided, it is not clear which of the above scenarios would be the best option for you. Each of these scenarios has its own advantages and disadvantages, and the right choice for you will depend on your personal goals, interests, and circumstances. For example, if you are passionate about wedding photography and believe that your previous studio failed due to external factors, then opening another studio that specializes in wedding photography may be a good option for you. On the other hand, if you believe that your studio failed because the market for wedding photography is saturated or because your services were not competitive, then expanding your portfolio to offer a wider range of services may be a better option. Alternatively, taking a break from photography and exploring other career options may allow you to gain new skills and experiences that can help you in your future endeavors.
on january 1, wei company begins the accounting period with a $46,000 credit balance in allowance for doubtful accounts. on february 1, the company determined that $10,000 in customer accounts was uncollectible; specifically, $2,500 for oakley company and $7,500 for brookes company prepare the journal entry to write off those two accounts. on june 5, the company unexpectedly received a $2,500 payment on a customer account, oakley company, that had previously been written off in part a. prepare the entries to reinstate the account and record the cash received.
The account and record the cash received Accounts Receivable - Oakley Co. Dr $1,800 Allowance For Doubtful Accounts Cr $1,800 Cash Dr $1,800 Accounts Receivable - Oakley Co. Cr $1,800.
Accounts receivable, abbreviated AR or A/R, is a legally enforceable claim by a business for goods delivered or services rendered that have been ordered by a customer but not paid for.
Receivables are money owed by a company's customers for goods or services received but not yet paid. For example, when a customer purchases an item on credit, the outstanding amount is added to the accounts receivable. An obligation arising from a commercial transaction.
An example of accounts receivable is a furniture manufacturer that supplies furniture to a retail store. When the manufacturer invoices the store for furniture, the outstanding payments are recorded in accounts receivable. Furniture manufacturers are waiting for payments from stores.
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Should a business email contain a salutation?
Answer:
A business email is meant in a professional way. It can be sought out as multiple different approaches, one of them, in this case, can include a friendly and welcoming business approach, including a salutation. All in all, it is up to the writer, there is no fully correct answer. Hope this helps :)
Terry transfers two assets to a partnership on the day it’s created for a 60% partnership interest worth $120,000. She contributed cash = $80,000 and equipment worth $40,000 with an adjusted basis = $16,000. What result?
a.Terry realizes and recognizes a $24,000 gain
c.Terry realizes but does not recognize a $24,000 gain
b.Terry neither realizes nor recognizes any gain
d.Terry does not realize but may elect to recognize a $24,000 gain
The result of Terry transferring two assets to a partnership on the day it’s created for a 60% partnership interest worth $120,000 with a cash contribution of $80,000 and equipment worth $40,000 with an adjusted basis of $16,000 is that Terry realizes but does not recognize a $24,000 gain.
Option C is the correct answer. Realized gain is defined as the amount that a taxpayer gains from the sale or exchange of property. When an asset is sold or exchanged for more than its adjusted basis, a realized gain occurs. Terry has contributed $40,000 in equipment with an adjusted basis of $16,000. Therefore, Terry has a $24,000 realized gain ($40,000 – $16,000). Terry does not, however, recognize the $24,000 gain.
A gain is recognized when it is included in gross income.
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The triple bottom line "people/social" and it's relationship with social responsibility
Answer:
TBL was proposed by Elkington. But there is difficulty in measuring social and environmental bottom line.
Explanation:
Triple bottom Line (TBL) in economics is the line that focus on the relationship on social and environmental concern. In TBL there are three bottom line that is people, profit, and planet. This term Triple Bottom Line was coined by John Elkington in 1994.
His main aim was to measure the performance of people in America. According to this idea it is possible to maintain both economy and environment. It can improve the lives of people as well can save the environment. It can be called a full time cost business. It is like Planet + People = Environmental responsibility + Social.
According to TBL if a company does not pay attention on how to interact socially but only focuses on business, it will not account full business.
The triple bottom line is a concept that states that rather than firms to focus on making profit as sole of operation, they should also commit their impact to the social and environment sphere.
The triple bottom line is divided into 3 according to importance to be given:
People / Social impactPlanet / Environmental impactProfit / Financial impact.In conclusion, the business concept posit that firms should ensures that its impact are felt in any social and environmental circle around the world.
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The concept that earnings management might align with conservative versus aggressive reporting is known as the?
The concept that earnings management might align with conservative versus aggressive reporting is known as 'Earning Continuum'
The practice of managing earnings is using accounting methods to create financial statements that unduly favorably portray a company's operations and financial standing. A company's management must make decisions in accordance with several accounting laws and principles.
When faced with uncertainty, accounting conservative principles call for accountants to undertake a high degree of verification and choose solutions that display the least aggressive figures.
In order to artificially increase its worth by overstating earnings, aggressive accounting may involve postponing or concealing losses. By declaring gross sales and keeping deferred costs on the balance sheet rather than the income statement, businesses can artificially inflate their revenue.
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Mary invested $200 for 3 years at 5% per annum. John invested $300
at the same rate. If they both received the same amount of money in
simple interest, for how many years did John invest his money?
a. 1 1/2
b. 2
c. 3
d. 10
Answer:
b. 2
Explanation:
Simple interest is calculated using the formula
I = p x r x t
Where p= principal amount
r= interest rate
t= time in years
Mary invested $200, at 5% for three years. She earned a simple interest of;
I= $200 x 5/100 x 3
=$200 x 0.05 x 3
=$30
If John received the same amounts, It means
$30= $300 x 0.05 x t
$30 = $15t
t= $30/$15
t=2
Time is 2 years
which type of manufacturing involves removing material to make a finished product?
The type of manufacturing that involves removing material to make a finished product is called subtractive manufacturing.
Subtractive manufacturing is a type of manufacturing process in which a raw material is used to create a finished product by removing material. This process involves using various cutting tools and machines, such as lathes, mills, and saws, to remove material from the raw material in the shape of the desired product. The process is also called subtractive engineering or subtractive fabrication.
In subtractive manufacturing, the raw material is typically a block of metal, wood, plastic, or other material, which is cut and shaped into the desired product using a variety of tools and machines. The process can be used to create a wide range of products, from simple shapes and designs to complex, intricate structures.
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Select the examples of workers commonly found in Business, Management, and Administration work environments. Check all that apply.
C folds clothing in a department store.
S leads a meeting in a private conference room.
Jr works in a private office on a computer.
L sets up sound and camera equipment in a theater.
T sits at a desk and answers telephone calls and e-mails.
J measures distances on a construction site.
Answer:
2, 3, 5
Explanation: your welcome, love.
Every Business, Management, and Administration work employee are the persons work in the office do the paper work and mange all operational and financial work of the organization . Hence option C ; S ; T are correct options
Who is Management and Administration worker ?An administrative employee is someone who oversees other workers who are members of another trade union and who typically work in office administration, construction, security, or maintenance.
Employees who have a common interest with "supervisors" are included by this definition. A general manager, business manager, administrator, director, or other person who has operational or managerial control over, or who directly or indirectly manages, the day-to-day operations of a facility, organization, or agency is referred to as a managing employee.
Management is a methodical approach to controlling individuals and resources within an organization. The act of running the entire organization by a group of people is referred to as the administration.
Planning, coordinating, and coming up with solutions to streamline administrative systems and procedures appointing duties and office space, as well as hiring and training staff.
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Finish this sentence... I believe car loans are
5
Select all the correct answers.
lastery Test
Nellie is planning her job search and is working on analyzing her interests and qualifications to focus her search. Which two steps are the most
helpful for Nellie to take to gain self-knowledge?
thinking about the skills she plans to acquire after she finishes high school
going through her social media profiles to see what people say about her
asking her high school counselors to help find online behavioral tests
surveying her classmates about the jobs they find to be the most interesting
considering the personal strengths she has that would transfer to the workplace
Reset
Next
The two steps that are the most helpful for Nellie to take to gain self-knowledge are:considering the personal strengths she has that would transfer to the workplacethinking about the skills she plans to acquire after she finishes high school
What is a Job Search?This refers to the process or situation where a person seeks employment.Hence, we can see that The two steps that are the most helpful for Nellie to take to gain self-knowledge are: considering the personal strengths she has that would transfer to the workplacethinking about the skills she plans to acquire after she finishes high school.
When speaking directly with the company manager to deliver the resume in person, the candidate should introduce himself quickly, talking about interest in the job opportunity and obviously explaining what his profession is and why he was interested.
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