In every day we use modern usually means up to date with recent developments , economic modernity ,politicians' revolutions, changes in the form of business organizations and ownerships and socialization modernity in the beginning of twentieth century are affected on accounting theory, which means that accounting has grown in response to social and institutional developments, briefly explain the above sentences?
Answers
The concept of modernity in economics, politics, changes in business ownership and organization, and socialization influenced the accounting theory of the early 20th century, resulting in the growth of accounting in response to social and institutional developments.
Modernization in accounting theory refers to the development of accounting practices in response to changes in social and institutional frameworks, such as changes in economic, political, and social settings, and technological advancements that affect accounting information systems.Modern accounting is considered a product of modern industrial societies. Accounting can be seen as a product of the interaction between the accounting profession and the broader social and institutional environment in which it operates.
The evolution of accounting theory was heavily influenced by social and institutional factors. The growth of accounting theory has been attributed to the need to adapt accounting practices to changing social and economic settings, including technological advancements, changing business structures, and shifts in political and economic systems.Modern accounting practices, such as double-entry bookkeeping and financial statement preparation, were developed to meet the changing needs of businesses and to address new demands for financial transparency and accountability.
Accounting theory has grown in response to the changing social and institutional frameworks in which it operates, and it continues to evolve as new challenges arise in the business and regulatory environments.
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Related Questions
HELP ASAP
A company had sales revenue of $1,000,000 last year. Its operating expenses were $100,000 and its income tax expense was
$10,000. Additionally, the company had $20,000 in sales returns and cost of goods sold of $500,000. What was its gross profit?
Answers
Answer: 480,000
This should be the gross profit, but if I'm wrong please let me know and ill try to fix it. :)
Gary and his brothers opened Digital laundry Pty Ltd on 1 June 2022. During the first month of operations, the following transactions occurred June 1 The business issued shares, and shareholders invested $40 000 cash in the busines 2 Paid $5000 cash for shop rent for the months of June and July 3 Purchased industrial dry-cleaning equipment for $65 000, paying $15 000 in cash and $50 000 on account 4 Paid $2400 for a 2-year accident insurance policies 10 Received a invoice from the The age for advertising the opening of the cleaning service, $500. 15 performed services on account for $10,000. 20 Paid a $500 cash dividend to shareholders. 30 Received $9000 from customers invoiced on 15 June Required Journalise the June transactions. (10 Marks) Do a trial balance at 30 June 2022. (15 Marks
Answers
The trial balance is as follows:
1. June 1:
Cash $40,000
Share Capital $40,000
2. June 2:
Rent Expense $5,000
Cash $5,000
3. June 3:
Industrial Equipment $65,000
Accounts Payable $50,000
Cash $15,000
4. June 4:
Prepaid Insurance $2,400
Cash $2,400
5. June 10:
Advertising Expense $500
Accounts Payable $500
6. June 15:
Accounts Receivable $10,000
Service Revenue $10,000
7. June 20:
Dividends $500
Cash $500
8. June 30:
Cash $9,000
Accounts Receivable $9,000
1. On June 1, the business issued shares, and shareholders invested $40,000 cash in the business. This transaction increases the cash balance and adds to the share capital.
2. On June 2, the business paid $5,000 cash for shop rent for the months of June and July. This transaction decreases the cash balance and records the rent expense.
3. On June 3, the business purchased industrial dry-cleaning equipment for $65,000. They paid $15,000 in cash and $50,000 on account. This transaction increases the equipment asset, decreases the cash balance, and records the accounts payable for the amount owed.
4. On June 4, the business paid $2,400 for a 2-year accident insurance policy. This transaction decreases the cash balance and records the prepaid insurance asset.
5. On June 10, the business received an invoice from The Age for advertising the opening of the cleaning service for $500. This transaction records the advertising expense and increases the accounts payable.
6. On June 15, the business performed services on account for $10,000. This transaction increases the accounts receivable and recognizes the service revenue.
7. On June 20, the business paid a $500 cash dividend to shareholders. This transaction decreases the cash balance and records the dividends.
8. On June 30, the business received $9,000 from customers who were invoiced on June 15. This transaction increases the cash balance and decreases the accounts receivable.
The trial balance at June 30, 2022, includes the account balances of various accounts. The debit and credit amounts are summarized, ensuring that the total debits equal the total credits, indicating that the books are in balance.
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governments that are interested in minimizing the efficiency costs of taxation should only tax goods where
Answers
If a government is interested in minimizing the efficiency cost of taxation, they should only tax goods where the demand, supply, or both are relatively inelastic. If the price is elastic, then the tax could change the efficiency of the cost. Remember, prices that are inelastic are harder to change, while elastic prices are easier to effect through things such as taxes.
I hope this helps! :)
Governments that are interested in minimizing efficiency costs of taxation should only tax goods where demand or supply, or both, are relatively inelastic.
What is inelastic demand and inelastic supply?Inelastic demand is when a customer's demand for a product does not change as much as a product's price change. When prices increase by 20% and demand decreases by just 1%, the demand is said to be inelastic.
This problem frequently arises with common household goods and services. People will continue to buy roughly the same amount of goods or services after a price increase since their needs remain the same.
In an economy with inelastic supply, manufacturers will produce the same amount whether the cost of their goods is higher or lower.
This happens when the change in the amount supplied as a percentage is smaller than the change in the price as a percentage, and the absolute value of the coefficient is below 1.
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The monthly expenses acquired when running a business are called...?
1)operating expenses
2)ending Inventory
3)beginning Inventory
4)start-up costs
Answers
Andre enjoys playing video games, but there is not a video game about his favorite hobby: collecting stamps. Andre decides to make a video game, not his for his enjoyment but to sell to other stamp collectors.
Answers
Answer:
B) entrepreneur
Explanation:
Since in the question it is mentioned that Andre enjoys while playing video games but at that time his favorite video game is not available i.e. collecting stamps. Now he decides to prepare a video game not for his enjoyment but for selling to the stamp collectors
So here the productive resources are entrepreneurs as it deals with the resources that are needed while producing the goods and services
hence, the correct option is B.
When making decisions, managers often must decide between doing what is beneficial for the firm in the short term, and what is beneficial for both the firm and society in the long term. To address this conflict, a firm must
Answers
When making decisions, managers are often faced with a conflict between what is beneficial for the firm in the short-term and what is beneficial for both the firm and society in the long-term.
This conflict arises because the actions that benefit the firm in the short-term may not necessarily align with the interests of society as a whole, which can lead to negative consequences for both the company and society in the long-term.
To address this conflict, a firm must adopt a long-term orientation and consider the broader social and environmental impacts of its decisions. This means looking beyond immediate financial gains and recognizing that actions taken today can have far-reaching implications for the company's reputation, customer loyalty, employee morale, and overall sustainability.
Firms that prioritize social responsibility and sustainable business practices are more likely to build strong relationships with stakeholders, including customers, employees, investors, and regulators. They are also better equipped to weather economic downturns and other disruptions, as they have diversified their risk and invested in building resilient supply chains and communities.
Ultimately, the key to addressing the conflict between short-term gains and long-term benefits is a commitment to corporate social responsibility (CSR) and sustainable business practices. By prioritizing the needs of society and the environment alongside those of shareholders, firms can create value for all stakeholders over the long-term, ensuring their continued success and impact.
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Even though the Constitution said nothing about presidents purchasing land,
President Thomas Jefferson purchased the Louisiana territory from France in 1803.
Jefferson felt the power came with the office, and Congress agreed. How did
President Jefferson justify doing this without authority being expressly granted to him
in the Constitution?
O necessary and proper clause
O the commerce clause
O inherent powers clause
O the three-fifths clause
Answers
Answer: its A and C and YOUR MUM LOL
Explanation:
Should citizens participating in
criminal trials should have some requirements such as someone who
has a degree? Or someone who makes at least $20,000 per year? Why
or why not?
Answers
Citizens participating in criminal trials should not be required to have a degree or make a certain amount of money per year. This is because such requirements would create inequalities in the justice system and violate the principle of equal protection under the law that is enshrined in the US Constitution.
First, requiring citizens to have a degree in order to participate in criminal trials would discriminate against those who cannot afford higher education. This would create an unfair advantage for those who are more affluent and better-educated, and it would prevent many people from serving on juries or as witnesses.
Secondly, requiring citizens to make a certain amount of money per year would also create inequalities. Poorer citizens would be excluded from participating in criminal trials, which would violate their rights to equal protection under the law. Moreover, wealth is not necessarily a measure of a person's ability to serve as a juror or a witness. A person's income level does not necessarily correlate with their intelligence, education, or integrity
.In conclusion,citizens should not be required to have a degree or make a certain amount of money per year in order to participate in criminal trials. Doing so would violate the principle of equal protection under the law, create inequalities, and prevent many people from participating in the justice system.
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Identifying Job Application Tools
What document is used to summarize a job applicant's experience, education, and achievements?
O test score
O school transcript
O review letter
O resume
Answers
Answer:
Resume
I hope this helps! Have a good life! ✌Answer:
D - resume
Explanation:
got it correct on edge
Mikayla asked 10 of her friends how many hours of TV they watch in a week. Three of her friends said 8 hours, two of her friends said 9 hours, two of her friends said 11 hours, one of her friends said 12 hours, and two of her friends said 14 hours. Mikayla wanted to make a dot plot of the data she gathered. In what order would she create the dot plot? Draw a number line from 8 to 14. Show the frequency of each number. Title the dot plot. Show the frequency of each number. Title the dot plot. Draw a number line from 8 to 14. Title the dot plot. Show the frequency of each number. Draw a number line from 8 to 14. Show the frequency of each number. Draw a number line from 8 to 14. Title the dot plot.
Answers
Answer:A
Explanation:
Draw a number line from 8 to 14 . Show the frequency of each number.Title the dot plot.
Answer:
I think the answer is A, like the first person said.
Explanation:
Why might a person assume the Mr. White could be doing well financially
Answers
\(\huge\color{purple}{\mathbb{ANSWER:}}\)
Mr. White was the third and final owner of the talisman in W. W. Jacobs' short story "The Monkey's Paw." He plucked it from the fireplace when the previous owner, Sergeant Major Morris, tossed it there to burn and end the chain of misfortune that came with it. He is motivated mostly by curiosity, since he seems happy with his life and is financially secure.
Mr. White took the paw from his pocket and eyed it dubiously. "I don't know what to wish for, and that's a fact," he said slowly. "It seems to me I've got all I want."
Hope it helps!!Assume that the required reserve ratio is 10 percent. If the central bank wants to increase the money supply by $20 billion, what is the specific open-market operation (type and minimum value) that the central bank needs to conduct?
Answers
Answer:
The central bank needs to conduct an open-market purchase of government securities worth at least $2 billion to increase the money supply by $20 billion, assuming a required reserve ratio of 10 percent.
Explanation:
To increase the money supply by $20 billion, the central bank needs to conduct an open-market purchase of government securities.
The minimum value of the open-market purchase can be calculated using the money multiplier formula:
Money multiplier = 1 / Required reserve ratio
Money multiplier = 1 / 0.1 = 10
The money multiplier tells us the total amount of money that can be created for each dollar of reserves held by banks.
To increase the money supply by $20 billion, the central bank needs to increase reserves by:
Reserve increase = Desired increase in money supply / Money multiplier
Reserve increase = $20 billion / 10 = $2 billion
Therefore, the central bank needs to conduct an open-market purchase of government securities worth at least $2 billion to increase the money supply by $20 billion, assuming a required reserve ratio of 10 percent.
Using the accounting equation (A = L + OE) calculate the amount of equity the company has if your assets are worth $10,000 total, while your debt is $5,000.
Answers
Answer:
$5,000
Explanation:
The Equation (A = L + OE) is the accounting equation that guides in preparing a balance sheet. The equation in full is
Assets = Liabilities + Owners Equity.
In this case
Assets = $10,000 , liabilities = $5,000, equity = ?
$10,000 = $5000 + Equity
Equity = $10,000 - $5,000
Equity = $5,000
how much would you cost to have a good night
Answers
Answer:
as much as i need
Explanation:
Print 4. The Allen Company produces chairs. This year's expected production is 30,000 units. Currently, Allen makes the upholstery for the chairs in its factory. Allen's management accountant reports the following costs for the upholstery for the 30,000 chairs: (Click to view the information.) Allen has received an offer from an outside vendor to supply the upholstery for the chairs Allen requires at $23.00 per chair. Read the requirements. Requirement 1. Assume that if the outside vendor supplies the upholstery, the facility where the upholstery is currently made will remain idle. On the basis of financial considerations alone, should Allen accept the outside vendors offer at the anticipated volume of 30,000 chairs? Show your calculations. (If an input field is not used in the table, leave the input field empty; do not enter a zero.) Relevant Costs Make Buy (2) (3) (5) Total relevant costs On the basis of financial considerations alone, should Allen accept the outside vendor's offer at the anticipated volume of 30.000 chairs? Allen (6) accept the outside vendor's offer at the anticipated volume of 30,000 chairs. Requirement 2. For this question, assume that if the upholstery is purchased outside, the available unused facilities will be used to make pillows to match the chairs. Each pillow costs $25 with a variable cost of $15. No other costs would change and the company expects to sell 10,000 pillows. On the basis of financial considerations alone, should Allen make or buy the upholstery for their chairs, assuming that 30,000 chairs are produced (and sold)? Show your calculations. (Enter any deductions with a parentheses or a minus sign. If an Input field is not used in the table, leave the input field empty; do not enter a zero.) Buy Relevant Costs Make (7) (8) (9) (10) (11) (12) Total relevant costs On the basis of financial considerations alone, should Alen make or buy the upholstery, assuming that 30,000 chairs are produced (and sold)? Allen should (13) the upholstery, assuming that 30,000 chairs are produced (and sold). Requirement 3. The sales manager at Allen is concerned that the estimate of 30,000 chairs may be high and believes that only 24,000 chairs will be sold. Production will be cut back, freeing up work space. This space can be use to make 10,000 pillows whether Allen buys the upholstery or makes it in-house. On the basis of financial considerations alone, should Allen purchase the upholstery from the outside vendar? Show your calculations. (If an input field is not used in the table, leave the input field empty; do not enter a zero.) Relevant Costs Make Buy (14) (15) (16) (17) (18) Total relevant costs On the basis of financial considerations alone, should Allen purchase the upholstery from the outside vendor? Allen (19) purchase the upholstery from the outside vendor. 1: Data Table Cost for 30,000 Units Direct materials $ 300,000 Variable direct manufacturing labor Variable manufacturing overhead 150,000 90,000 120,000 105,000 Variable inspection, setup, materials handling Allocated fixed costs of plant administration, taxes, and insurance $ 765,000 Total costs 2: Requirements 1. Assume that if the outside vendor supplies the upholstery, the facility where the upholstery is currently made will remain idle. On the basis of financial considerations alone, should Allen accept the outside vendor's offer at the anticipated volume of 30,000 chairs? Show your calculations. 2. For this question, assume that if the upholstery is purchased outside, the available unused facilities will be used to make pillows to match the chairs. Each pillow sells for $25 with a variable cost of $15. No other costs would change and the company expects to sell 10,000 pillows. On the basis of financial considerations alone, should Allen make or buy the upholstery for their chairs, assuming that 30,000 chairs are produced (and sold)? Show your calculations. 3. The sales manager at Allen is concerned that the estimate of 30,000 chairs may be high and believes that only 24,000 chairs will be sold. Production will be cut back, freeing up work space. This space can be use to make 10,000 pillows whether Allen buys the upholstery or makes it in-house. On the basis of financial considerations alone, should Allen purchase the upholstery from the outside vendor? Show your calculations. Cost per Unit 10.00 $ 5.00 3.00
Answers
The relevant costs of "Make" and "Buy" options is Direct Manufacturing Labor $150,000
Variable Manufacturing Overhead
$90,000 $90,000
Variable Inspection, Setup, and Materials Handling
$120,000
$60,000
Total Relevant Costs
$660,000
$600,000
The "Buy" option are less expensive than the "Make" option, so Allen should accept the outside vendor's offer at the anticipated volume of 30,000 chairs.
If Allen buys the upholstery for $23 per chair from the outside vendor, Allen would have available space to make pillows to match the chairs, generating an additional profit of $10 per pillow. The relevant costs of "Make" and "Buy" options are:
Relevant Costs Make
Buy Direct Materials
$300,000
$300,000
Direct Manufacturing Labor
$150,000
$150,000
Variable Manufacturing Overhead
$90,000
$90,000
Variable Inspection, Setup, and Materials Handling
$120,000
$60,000
Pillow Production($150,000)
Total Relevant Costs
$510,000
$600,000
Total Relevant Revenue:
$600,000 + (10,000 * $25) = $850,000
Total Relevant Costs:
$510,000 + $150,000 = $660,000
Total Relevant Profit:
$850,000 - $660,000 = $190,000
Allen should "Buy" the upholstery, assuming that 30,000 chairs are produced (and sold).
If Allen expects to sell 24,000 chairs, the company should purchase the upholstery from an outside vendor. The relevant costs of the "Make" and "Buy" options are:
Relevant CostsMakeBuyDirect Materials
$240,000
$240,000
Direct Manufacturing Labor
$120,000
$120,000
Variable Manufacturing Overhead
$72,000
$72,000
Variable Inspection, Setup, and Materials Handling
$96,000
$48,000
Pillow Production ($150,000)
Total Relevant Costs
$378,000
$480,000
Total Relevant Revenue: $480,000 + (10,000 * $25) = $730,000
Total Relevant Costs: $378,000 + $150,000 = $528,000
Total Relevant Profit: $730,000 - $528,000 = $202,000
Allen should "Buy" the upholstery from the outside vendor.
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Because an insurance policy is a legal contract, it must conform to the state laws governing contracts which require all of the following elements EXCEPT?
Answers
All of the following, with the exception of conditions, are required.
Describe insurance.One party will agree to compensate another in the event of a certain loss, damage, or injury in exchange for a fee in order to safeguard oneself from financial loss. It is a risk management technique that is typically used to guard against the danger of a hypothetical loss that may or may not materialise.
An underwriter, insurer, firm, or carrier is a company that provides insurance. A person or organisation that obtains insurance is known as a policyholder, whereas a person or organisation that the policy protects is known as an insured.
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organizations have traditionally divided the responsibility for managing the flow of materials and services among which three departments?
Answers
Answer:
Purchasing, production, distribution
2. The first draft of the project charter is as follows:
Project Manager
Project Sponsor
Start Date
Project Mission
PROJECT CHARTER
Annual Clothing Drive
Talar Adams
Activities Committee
April 21
Deliver clothes to local shelters
a. Does this charter contain enough information for Talar to get started? Why or why
not?
Answers
Answer:
The charter provides some basic information about the project, such as the project manager, sponsor, start date, and mission. However, it does not provide enough details about the project's scope, objectives, budget, timeline, stakeholders, and risks. Talar needs more information to understand the project's requirements, constraints, and expectations. She also needs to define the project's deliverables, milestones, and success criteria. Without a clear and comprehensive project charter, Talar may face difficulties in planning, executing, and controlling the project, as well as communicating with stakeholders and managing their expectations. Therefore, Talar should revise the project charter to include all the necessary information and obtain approval from the project sponsor before proceeding with the project.
what technological and economic factors combined to lead to the explosive growth of american cities during the urbanization period?
Answers
The explosive growth of American cities during the urbanization period was driven by a combination of technological and economic factors. The development of industrialization and the growth of railroads led to the emergence of large manufacturing industries in cities, such as steel production, textiles, and food processing.
These industries provided employment opportunities to a large number of people and created a demand for more goods and services, leading to increased urban population growth. Finally, the availability of credit, the emergence of large financial institutions and the development of efficient transport networks all played a key role in the economic development of cities.
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Please help. Atleast the top 2
Answers
Answer:
Number 1 is Pure Market. Number two is socialist, I'm pretty sure.
Explanation:
Please mark me brainliest if someone else answers :>
What's the answer I need help ASAP!!
Answers
Answer:
B
Explanation:
Dixon Menswear Shop purchased shirts from Colt Company on May 28, 2019, and received an invoice with a list price amount of $5,000 and payment terms of 2/10, n/30. Dixon uses the net method to record purchases. Dixon should record purchases of:
a. $4,000
b. $4,900
c. $5,000
d. $5,100
Answers
Dixon Menswear Shop should record the purchases as $4,900 (option b).
To determine how Dixon Menswear Shop should record the purchases from Colt Company, we need to consider the payment terms and the net method.
The payment terms stated as "2/10, n/30" mean that Dixon is eligible for a 2% discount if they pay within 10 days. Otherwise, the full amount is due within 30 days.
Using the net method, Dixon would record the purchases at the net amount, which is the invoice amount minus any discounts. Therefore, if Dixon pays within 10 days, they would receive a discount of 2% on the list price amount of $5,000.
Calculating the discount:
Discount = List price amount x Discount rateDiscount = $5,000 x 0.02Discount = $100The net amount, after subtracting the discount, would be:
Net amount = List price amount - DiscountNet amount = $5,000 - $100Net amount = $4,900Therefore, Dixon Menswear Shop should record the purchases as $4,900 (option b).
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If an employee took a $1.79 candy bar from her employer every day and worked five days a week for 50 weeks of the year, how much would that pilfering cost the company? If 20 employees did the same thing how would that affect the company’s profits? i need help asap
Answers
If an employee took a $1.79 candy bar from her employer every day and worked five days a week for 50 weeks of the year, the cost of the pilfering would be $ 447.50.
If 20 other employees did it, the company would lose $8, 950.
How is the company affected ?The loss from the first employee is:
= $ 1. 79 x 5 days x 50 weeks
= $ 447. 50
If 20 employees all did the same, the loss to the company would be:
= 447. 50 x 20
= $ 8, 950
The level of theft can have immense implications on the profits of an organization that vary depending on its overall revenue and size. Besides the explicit financial loss concerning stolen goods, there is also a possibility of indirect expenses such as reduced worker productivity because of employee thefts or even needing more security personnel and equipment, which are costly investments. The company's reputation might take a significant hit in the long run due to these actions.
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what is engineering?
Answers
Answer:
Engineering is an occupation with an extremely wide reach. The term 'engineering' covers many fields and, by extension, many skills. Engineers are scientists, inventors, designers, builders and great thinkers and improve the state of the world, expand human capability and make people's lives safer and easier.
Engineering skills include:
The scientific methodSocial, cultural and economic awareness MathematicsBiology, chemistry, physics and other areas of scienceCreativityTeamworkWhere science is involved with designs, buildings, use of engines, machines, and structures.Which of the following statements probably leads to defensive communication Multiple Choice I am angry about the way you spoke to the customer because our department looked urvesponsive I'd like you to agree with me during the meeting so that we can overcome any chwingers Vote your conscience at the meeting. You can agree or disagree with my proposal I sense you are disappointed about missing the deadline, Let's figure out how we can get back on schedule
Answers
The statement "I am angry about the way you spoke to the customer because our department looked unresponsive" is likely to lead to defensive communication.
The statement "I am angry about the way you spoke to the customer because our department looked unresponsive" is likely to lead to defensive communication because it immediately places blame on the other person. By expressing anger and pointing out a negative outcome for the department, it creates a defensive stance where the person being addressed may feel the need to protect themselves or justify their actions. Defensive communication often arises when individuals feel attacked or criticized, leading to a breakdown in effective communication and problem-solving. In this case, focusing on the other person's behavior and attributing negative consequences to it can hinder open dialogue and collaboration, making it difficult to address the underlying issue constructively.
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According to douglas mcgregor, the classical perspective on management was based on __________ assumptions about workers.
Answers
According to douglas mcgregor, the classical perspective on management was based on Theory X assumptions about workers.
What is Theory X?
According to Theory X, people despise their jobs, lack motivation, and are hesitant to accept accountability. This presumption leads managers to drive their workforce using a rigorous "carrot and stick" strategy that rewards superior performance and penalizes subpar performance. Theories of human labor motivation and management include Theory X and Theory Y. They were invented by Douglas McGregor in the 1950s while he was a faculty member at the MIT Sloan School of Management, and they underwent further development in the 1960s.
Therefore,
According to douglas mcgregor, the classical perspective on management was based on Theory X assumptions about workers.
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Click this link to view O*NET's Work Context section for Marriage and Family Therapists. Note that common contexts
are listed toward the top, and less common contexts are listed toward the bottom. According to O'NET, what are some
common work contexts for Marriage and Family Therapists? Select four options.
o exposed to hazardous conditions
spend time bending or twisting
o contact with others
indoors, enpironmentally controlled
face-to-face discussions
telephon
Answers
Answer:
c,d,e,f
Explanation:
Answer:
C,D,F
Explanation:
how do u mark brainlist pls? hurry
Answers
Answer:
after two or more people answer there will be a crown next to the report button
Explanation:
if the selling price is $22.30 per unit, what is the contribution margin per unit?
Answers
The contribution margin per unit is $22.30.
The contribution margin per unit is calculated by subtracting the variable costs per unit from the selling price per unit. In this case, since the selling price per unit is given as $22.30, we can assume that this is the revenue per unit. To calculate the contribution margin per unit, we need to know the variable costs per unit, which include direct materials, direct labor, and other variable expenses associated with producing the unit.
By subtracting the variable costs per unit from the selling price per unit, we can determine the contribution margin per unit, which represents the amount of revenue available to cover fixed costs and contribute to profit.
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The cost of producing, distributing and promoting the product will all influence the product's: A. image. B. concept. C. brand name. D. price. D. price
Answers
The cost of producing, distributing, and promoting a product is indeed influential in various aspects of the product, but the most direct impact is on its price. Therefore option D is correct.
First and foremost, the cost of production is a key determinant of the price of a product. The expenses associated with manufacturing or acquiring the goods, including raw materials, labor, equipment, and overhead costs, significantly contribute to the overall cost of production.
To ensure profitability, businesses often add a markup to cover their expenses and generate a reasonable profit margin. Therefore, higher production costs generally result in a higher retail price for the product.
Secondly, distribution costs play a crucial role in determining the final price of a product. Distribution expenses encompass activities such as transportation, warehousing, inventory management, and logistics.
These costs vary depending on the nature of the product, its size, weight, and the distance it needs to travel to reach the end consumer.
Additionally, distribution costs can be influenced by factors like packaging requirements, delivery speed, and the complexity of the supply chain. All these factors directly impact the overall cost structure and, consequently, the pricing strategy.
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