Since the idea of ugly Christmas sweaters already existed, what key factors led to Jack McCarthy’s turning it into a business opportunity? (5 Marks). 2. What are some advantages a teenager might have over an experienced adult when it comes to recognizing and implementing a business opportunity? (5 Marks). 3. What external factors boosted or hindered or could boost or hinder McCarthy’s business startup? How did he overcome the obstacles that hindered his entrepreneurship journey? What other external factors are likely threats to his business and how would you handle them if you were him? (15 Marks). 4. Justify whether McCarthy’s older sister was an entrepreneur or non-entrepreneur. (2 Marks) What differences have you noticed between McCarthy and his older sister in relation to entrepreneurship? (4 Marks). 5. If you were in McCarthy’s position as a business student who already headed a highly successful enterprise, what would your career goals be? (3 Marks) Explain the reasons for the goals you propose. (5 Marks) 6. You played the game of a ‘Jigsaw Puzzle’ and the game of a ‘Pieces of Fabrics’ for unique clothes for the market. Justify which logic in entrepreneurship does each of these games represent? ​

Answer:

The solution to prevent employees getting late at work could be a regressive strategy like warning employees about the duration after which they cannot be at break and telling them that there would be a pay cut from their monthly salary if they exceed the time like $0.1/minute.

In order to increase the productivity of the company, there are many strategies that can be opted at different levels of organization

Like at manufacturing level: 1) installing more efficient Plant and machinery

2) Hiring more skilled labours

and at managerial level: 1) Improved planning 2) hiring competent and trained staff

Explanation:

An operating budget is a financial statement that outlines the organization's expenditures and revenues for a specific period.

The operating budget is typically for a fiscal year, which is usually twelve months. The future period for an operating budget is usually a fiscal year or less than a year. The operating budget is critical because it establishes guidelines for financial activities and operations in an organization. It provides a roadmap for financial plans for a short-term, future period, which typically begins on January 1st and ends on December 31st.

An organization creates an operating budget to aid in the allocation of resources and expenditures to achieve its objectives for a given period. A typical operating budget is for a fiscal year. A fiscal year is the period when an organization prepares its financial statements. It is usually 12 months, but it may be shorter or longer depending on the organization. An operating budget typically covers one fiscal year; however, it may be longer or shorter based on the organization's preferences.

The future period for an operating budget is frequently updated to reflect the company's current situation and financial standing. It takes into account the actual results of the previous period and the estimated expenditures and revenues for the upcoming year to develop the operating budget for a future period.

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On Section 4797, Part I, the land is sold. The capital asset portion of your Form 1040 is combined on line 13. Consequently, the answer to your last query is that this does count as two sales on your Form 4797, but only one of them is a Schedule D capital asset.

To complete form 4797 for the 2013 tax year, I'm attempting to find out how to do it.

For $240,000 in 2007, the duplex was bought, and for $251,900 in 2013, it was sold.

Never owned by the owner, it was always used as a rental property. the following information

- Paid $240,000 when bought in 2007. (Land: 50,000 Building: 190,000)

- Purchased for $251,900 in 2013.

- $13,500 in fees for the property's selling

- Depreciation over the last six years or more: $34,000

- During this time, the home underwent no improvements.

I typed 251,000 into line 20 of form 4797. This is probably accurate.

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If you have a wrist sprain, you may be able to move the wrist in a range of motion. It may be painful, but you will still be able to do it. That usually means the bones are not broken, and you have a sprain. Another sign of a wrist sprain is that there are swelling and redness around the sprained area of the wrist

Explanation:

Answer:

If its broken, you wont be able to move your fingers and it might be miss shapen. if its sprained, their can still be movement in your hand and your rist will still be strait

Explanation:

Unions are organizations that represent workers in a particular industry or profession. Their primary goal is to protect the rights and interests of workers by negotiating better wages, benefits, and working conditions.

Unions are organizations formed by workers to protect their interests and rights in the workplace. They advocate for collective bargaining, fair wages and benefits, workplace safety, non-discrimination, job security, training and education, and political advocacy.

Labor laws are laws that govern the relationship between employers and employees in the workplace. Examples include minimum wage laws, overtime laws, anti-discrimination laws, health and safety laws, leave laws, unionization laws, and employment contract laws. These laws govern the rights of employees to form and join unions and establish the legal requirements for collective bargaining.

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What are unions? What are their roles and policies?

Answer:

Ebert Company

Journal Entries:

1) Debit Cash $43,495,895

Debit Bonds Discounts $6,504,105

Credit Bonds Payable $50,000,000

To record the sale of the bonds at a discount.

2) First semiannual interest payment:

Debit Interest Expense $1,957,315

Credit Amortization $207,315

Credit Cash $1,750,000

To record the first semiannual interest payment.

3) Second semiannual interest payment:

Debit Interest Expense $1,966,644

Credit Amortization $216,644

Credit Cash $1,750,000

To record the second semiannual interest payment.

b. Bond interest for the first year = $3,923,959 ($1,957,315 + $1,966,644)

c. The company issued the bonds at a discount at a coupon rate of 7%, which is less than the market interest rate of the bonds (9%).

Explanation:

a) Data and Calculations:

Face value of bonds = $50,000,000

Price received =            $43,495,895

Discount =                       $6,504,105

Coupon interest rate = 7%

Interest payment = semiannually

Maturity period = 10 years

Market (effective) interest rate = 9%

1) Cash $43,495,895 Bonds Discounts $6,504,105 Bonds Payable $50,000,000

2) First semiannual interest payment:

Interest Expense $1,957,315 Amortization $207,315 Cash $1,750,000

Cash payment =   $1,750,000 ($50,000,000 * 3.5%)

Interest expense =  1,957,315 ($43,495,895 * 4.5%)

Amortization =         $207,315

Fair value of bonds = $43,703,210 ($43,495,895 + $207,315)

3) Second semiannual interest payment:

Interest Expense $1,966,644 Amortization $216,644 Cash $1,750,000

Cash payment =   $1,750,000 ($50,000,000 * 3.5%)

Interest expense = 1,966,644  ($43,703,210 * 4.5%)

Amortization =        $216,644

The specific information characteristic that suffered in the given scenario is accuracy.

Whenever a customer applies to open an account with a bank, they are required to register with the bank's system. This registration allows them to access the required services whenever the need arises. However, in Abebe's case, the customer had been registered but was unable to get the required service because of an error in data entry recording his personal information. As a result, the teller was unable to verify Abebe's account even though the customer was registered with the bank. This error in data entry illustrates that accuracy suffered in this scenario. This shows the importance of accurate data entry, especially in the banking sector where mistakes could lead to customer dissatisfaction and loss of trust.

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Seedi started a business to repair computers. The journal entry for this transaction is:

Invested so.sh. 5,000 as the capital:

Obtained a bank loan of so.sh. 2,000:

Deposited so.sh. 100 in a fixed deposit account:

The term journal entry was the first part of the Financial statement. The journal entry was the based on the debit and the credit record in the book entry. The Journal was the pro forma of the statement.

Earned a cash income so.sh.so.sh. 600 from computer repairs:

Paid so.sh. 100 as the monthly rent of the business:

Geedi withdrew so.sh. 200 from the business for her private use:

Purchased equipment at so.sh. 100. 08. Paid so.sh. 500 of the telephone bill of the month:

Geedi invested an additional capital of so.sh. 500 10.:

Paid so.sh. 200 of the bank loan hove transactions to the accounting​:

As a result, the significance of the journal entry for this transaction is the aforementioned.

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1. The blanks are filled with the correct values and each item classified according to the ABC classification as follows:

A - outstandingly important

G2                200               1500          300,000                      37.62%

A2             3500                   50            175,000                      21.94%

D1              6000                  20            120,000                     15.05%

B - of average importance

CT              1500                  45               67,500                       8.46%

BB             4000                   12              48,000                       6.02%

C - relatively unimportant

F3               500                500             25,000                        3.13%

E9              1000                  20             20,000                        2.51%

I5               1750                  10               17,500                        2.19%

J8             2500                   5               12,500                        1.57%

H2              600                  20              12,000                        1.50%

2. Item A2 is classified as A - outstandingly important.

Data and Calculations:

Item  Annual Demand  Cost\Unit   Dollar Volume   % of Total Dollar Volume

A2             3500                   50            175,000                      21.94%

BB             4000                   12              48,000                       6.02%

CT              1500                  45              67,500                       8.46%

D1              6000                  20            120,000                     15.05%

E9              1000                  20             20,000                        2.51%

F3               500                500             25,000                        3.13%

G2              200               1500          300,000                     37.62%

H2              600                  20              12,000                        1.50%

I5               1750                  10               17,500                        2.19%

J8             2500                   5               12,500                        1.57%

Total Dollar Volume                          797,500                         100%

Percentages of dollar = Dollar Volume/Total Dollar Volume x 100

Thus, based on the percentages of dollar volume, Item A2 should be classified as A - outstandingly important.

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1. Robert's qualified business income is $305,000.

This is because Robert is the sole shareholder and CEO of ABC, Inc., an S corporation that is a qualified trade or business.

During the current year, ABC has net income of $305,000 after deducting Robert's $91,500 salary. In addition to his compensation, ABC pays Robert dividends of $213,500.

If Robert's experience and responsibilities are valued at $213,500, then his qualified business income would also be $213,500.

Robert's income of $91,500 falls under the category of reasonable compensation, and hence, he will not have to pay any self-employment tax.

If Robert's skills and obligations justify a fair salary of $91,500, his eligible business earnings would amount to $123,000. Robert's salary of $91,500 would be viewed as justifiable remuneration and therefore exempt from self-employment tax.

The sum of $213,500 that Robert obtained from ABC as dividends would be liable to the self-employment tax.

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BRICK 'n TILE, a hypothetical company, can differentiate between short-run and long-run costs by considering examples such as immediate production costs (short-run) and investment in new production facilities (long-run).

Short-run costs refer to expenses that a company incurs in the immediate period, where some factors of production are fixed and cannot be easily adjusted. In the case of BRICK 'n TILE, short-run costs could include the costs of raw materials, labor, utilities, and maintenance for their existing production facilities. These costs are essential for the day-to-day operations and can be directly linked to the current level of production.

On the other hand, long-run costs encompass expenses that can be adjusted in the long term to adapt to changes in production levels and scale. For BRICK 'n TILE, an example of a long-run cost would be the investment in new production facilities or equipment. If the company decides to expand its operations or increase its capacity, they may need to construct a new manufacturing plant or purchase advanced machinery. These costs are incurred over an extended period and are associated with strategic decisions that affect the company's production capabilities in the long run.

Differentiating between short-run and long-run costs is crucial for effective financial planning and decision-making. Short-run costs help determine the immediate profitability of the company's operations, while long-run costs factor in the potential growth and expansion strategies. Understanding the distinction between these cost categories allows BRICK 'n TILE to make informed decisions regarding short-term production levels and long-term investment in infrastructure and technology.

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Answer:

puts a stop to many evictions, foreclosures, wage garnishments and utility shutoffs

Answer: Based on the information provided in the box “Reaching Beyond Our Borders,” the correct answer would be option A: opening up a new auto plant in China in under 18 months.

In the indicated time, Tesla indeed managed to complete the incredible achievement of opening a new auto manufacturing plant in China in under 18 months, a testament to their commitment to advancing the use of renewable energy and marking a significant expansion in their global presence.

According to the box 'Reaching Beyond Our Borders', Tesla was able to accomplish the seemingly impossible feat of opening up a new auto plant in China in under 18 months. This accomplishment was striking as it signified a significant leap towards promoting sustainable energy on a global level, given Tesla's primary focus on electric vehicles. Meanwhile the options of - sending the first U.S. citizen to the moon, building an electric bicycle that can be recharged on solar power, and building over 1 million vehicles each year - do not correctly match the facts reportedly associated with Tesla's activities within the given timeframe.

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a. An increase of $20 per unit is necessary to cover the 15 percent increase in direct labor cost and maintain the desired contribution margin ratio.

b.The fixed costs and desired operating income remain the same, so the contribution margin per unit of $40 is used. The required sales volume is 18,500 units.

c. The estimated operating income after capacity expansion can be determined by increasing the production and sales volume by 25 percent, i.e., 23,125 units

a. To maintain the current contribution margin ratio of 40 percent, the selling price per unit needs to be increased by 20 percent [(15 percent wage increase) / (current contribution margin ratio)].

Therefore, an increase of $20 per unit is necessary to cover the 15 percent increase in direct labor cost and maintain the desired contribution margin ratio.

b. To maintain the current operating income of $350,000, the number of units that must be sold can be calculated using the contribution margin ratio.

The fixed costs and desired operating income remain the same, so the contribution margin per unit of $40 is used. The formula for calculating the required sales volume is:

(Number of units) = (Fixed costs + Desired operating income) / Contribution margin per unit

Plugging in the values, we have:

(Number of units) = ($390,000 + $350,000) / $40 = 18,500 units

c. Before the capacity expansion, the estimated operating income can be calculated using the current production and sales volume of 18,500 units.

The estimated operating income after capacity expansion can be determined by increasing the production and sales volume by 25 percent, i.e., 23,125 units.

The schedules of estimated operating income at full capacity before and after the expansion can be prepared by multiplying the respective sales volumes with the contribution margin per unit and subtracting the fixed costs and the wage increase.

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The concept of demand elasticity is crucial for understanding the relationship between changes in price and changes in quantity demanded of a product.

In this scenario, we are given that the change in the price of a product is 10%, and this leads to an 8% change in the quantity demanded. We can use this information to calculate the product's demand elasticity.

Demand elasticity is the measure of the responsiveness of the quantity demanded of a product to changes in its price. It is calculated as the percentage change in quantity demanded divided by the percentage change in price. Therefore, in this scenario, the demand elasticity can be calculated as:

Demand elasticity = (% change in quantity demanded) / (% change in price)

Demand elasticity = (8% / 10%)

Demand elasticity = 0.8

The demand elasticity in this scenario is 0.8, which means that the product's demand is relatively inelastic. Inelastic demand means that changes in price have a relatively small impact on the quantity demanded of the product. This is because the percentage change in quantity demanded is less than the percentage change in price.

Overall, understanding the concept of demand elasticity is essential for businesses to make informed decisions about pricing strategies. In this scenario, the product's relatively inelastic demand suggests that changes in price may not have a significant impact on the quantity demanded, and businesses may need to consider other factors when deciding on pricing strategies.

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In a small country, the adult population equals 10,000. In that country, 10,000 people are in the labor force and 7000 people are unemployed. The unemployment rate equals 10 percent.

The number of unemployed people as a percentage of the labor force is known as the unemployment rate (the labor force is the sum of the employed and unemployed). (Unemployed Labor Force) x 100 is the formula for calculating the unemployment rate.

The causes of unemployment are numerous. Recessions, depressions, technical advancements, job outsourcing, and willingly changing jobs are a few of them. These include industrial consolidation; demographics; education and training; innovation; labor unions; cyclical and structural factors; economic growth. There are other elements that affect an individual's risk of unemployment besides macroeconomic and firm-specific ones.

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The complete question is:

In a small country, the adult population equals 10,000. In that country, 10,000 people are in the labor force and 7000 people are unemployed. The unemployment rate equals

A.) 0.63 percent

B.) 7 percent

C.) 10 percent

D.) an undetermined amount given the lack of information

Answer:

6

Explanation:

Answer:

a. Credit to Contribution Revenue for $230000

Explanation:

Nonmonetary transaction can be said to occur in a situation where a business activity is said to be concluded without the transfer of money between accounts for parties which is been tied to the transaction .

Example is change of address or in a situation where a more complex transactions occured.

Therefore Pharoah should record this nonmonetary transaction as a Credit to Contribution Revenue for $230000 because

Pharoah paid nothing for this realty, which had a fair value of $230000 at the date of the grant.

Answer:

Credit to Donated capital for $230000 ( C )

Explanation:

pharaoh receiving a parcel of real estate from Concord County  with a fair value of $230000 and not paying for it i.e as a grant. Pharaoh will record such non monetary transaction as credit to donated capital. this is because the cost/capital he would have spent in acquiring that property for his business have been saved and the asset was Donated to him by Concord County which means he still got the property which is very essential for his business.this is why he should record this transaction under Donated capital.

A. Operating characteristics:

Lq ≈ 0.5017, L ≈ 0.9377, Wq ≈ 0.1730 hours, W ≈ 0.5063 hours, Pw ≈ 0.4833

B. Service goal: Not met. Action recommended.

C. Mean service rate: 7.5 customers/hour.

If the consultant can reduce the average time spent per customer to 8 minutes, then the average time a customer spends in the system will be 0.33 hours (20 minutes).

A. To compute the operating characteristics of the customer waiting line:

Arrival rate (λ) = 2.9 customers/hour

Service rate (μ) = 60 minutes / 10 minutes per customer = 6 customers/hour

Average number of customers in the queue (Lq):

Lq = (λ^2) / (μ * (μ - λ)) ≈ 0.5017

Average number of customers in the system (L):

L = λ / (μ - λ) ≈ 0.9377

Average waiting time in the queue (Wq):

Wq = Lq / λ ≈ 0.1730 hours (approximately 10.38 minutes)

Average waiting time in the system (W):

W = Wq + (1 / μ) ≈ 0.5063 hours (approximately 30.38 minutes)

Probability of a customer waiting in the queue (Pw):

Pw = λ / μ ≈ 0.4833

B. The service goal is that an arriving customer should not wait for service more than an average of 6 minutes. However, the average waiting time in the system (W) is approximately 30.38 minutes, exceeding the goal. Therefore, the service goal is not being met.

Action recommendation: To meet the service goal, I would recommend taking the following actions:

Increase staffing: Hire additional design consultants to handle customer questions and product recommendations.

Improve efficiency: Streamline processes and provide training to the consultant to reduce the time spent with each customer.

Appointment scheduling: Implement a system for customers to schedule appointments, ensuring dedicated time slots for each customer and minimizing waiting times.

Self-service options: Provide self-service resources or online tools where customers can access basic information and make preliminary decisions, reducing the need for extensive consultations.

C. If the consultant can reduce the average time spent per customer to 8 minutes, the mean service rate can be calculated as follows:

Mean service rate (μ) = 60 minutes / 8 minutes per customer ≈ 7.5 customers/hour

Will the service goal be met? Yes

If the consultant can reduce the average time spent per customer to 8 minutes, then the average time a customer spends in the system will be 0.33 hours (20 minutes). This is less than the service goal of 6 minutes, so the goal will be met.

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The Production Cost Report for the Shaping department is as follows:

Vintage Manufacturing Inc. - Production Cost Report (Shaping Department)

------------------------------------------------------------

Units:

- Beginning Inventory: 120,000 units

- Units started: 160,000 units

- Units transferred out: 170,000 units

- Ending Inventory: 110,000 units

Costs:

- Beginning Inventory:

 - Materials: $130,000

 - Conversion: $33,600

- Current Costs:

 - Total Materials Cost: $570,000

 - Total Conversion Cost: $1,036,400

Cost per Equivalent Unit:

- Materials: $570,000 / (160,000 + 120,000) = $1.71 per unit

- Conversion: $1,036,400 / (160,000 + 120,000) = $3.13 per unit

Cost Assignment:

- Transferred out:

 - Materials Cost: 170,000 units x $1.71 per unit = $290,700

 - Conversion Cost: 170,000 units x $3.13 per unit = $531,100

Ending Inventory:

Materials Cost: 110,000 units x $1.71 per unit = $188,100

Conversion Cost: 110,000 units x $3.13 per unit x 40% complete = $137,720

The Production Cost Report for the Shaping department provides information on the units and costs involved in the manufacturing process.

It shows the quantity of units in different stages, including the beginning and ending inventories, units started, and units transferred out. The report also breaks down the costs into materials and conversion costs.

To calculate the cost per equivalent unit, the total materials and conversion costs for the period are divided by the equivalent units of production (units started plus beginning inventory).

This helps in determining the cost per unit for both materials and conversion.

The cost assignment section calculates the cost of the units transferred out and the ending inventory.

For the units transferred out, the cost per unit is multiplied by the number of units transferred. For the ending inventory, the cost per unit is multiplied by the remaining units in inventory and the percentage of completion for conversion costs.

In this case, the Shaping department had a beginning inventory of 120,000 units. During May, 160,000 units were started, and 170,000 units were transferred out.

The ending inventory was 110,000 units. The costs were allocated accordingly, taking into account the cost per unit and the percentage of completion.

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Answer:

What is your question?

The most effective way to ensure that the team works efficiently and produces a high-quality outcome.

The most logical and effective way to assign tasks to group members is to delegate tasks based on each team member's strongest skillset. This ensures that each person is assigned tasks that they are best suited to complete, and thus the team can work together more efficiently and produce a higher quality outcome.

It is important to consider each team member's strengths and weaknesses, and to allocate tasks accordingly.

Randomly drawing tasks out of a hat may not ensure that each team member is working to their strengths, and may result in some team members being assigned tasks that they are not particularly skilled at.

Assigning tasks based on gender is also discriminatory and not a fair or effective way to allocate work.

Dividing the deck equally may be a good way to ensure that each team member has an equal workload, but it does not necessarily take into account individual strengths and may result in some team members being overworked while others are underutilized.

Overall, assigning tasks based on each team member's strongest skillset is the most effective way to ensure that the team works efficiently and produces a high-quality outcome.

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Answer:   Sales        2,250,000

Explanation:  

variable cost                      1,250,000

25 x 50,000

Gross Profit                      1,000,000

Fixed Cost

Selling & Administrative    300,000

Operating income         700,000

interest expense

10,000

non- controllable expenses 10,000

non-controllable income   690,000

income taxes                      200,000

net income                        490,000

Explanation:

the interest expense is not part of the operating cost, those cost are not part of the business activity. It is on the non-controllable expenses

If a firm's marginal costs fall, then its price falls.

This is based on the principle that if the marginal cost of a product or firm rises, that implies that the firm is operating at a high fixed cost, thereby leading to an increase in the cost of production, which generally equates to products having a high price.

On the other hand, where there is low marginal cost, production costs reduce because the products are being produced at a lower fixed cost. Thereby leading to lower prices.

Hence, in this case, it is concluded that "If a firm's marginal costs fall, then its price falls."

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Answer:A

Explanation:

Because as long as a bank does have customers over the next few years then they have to tackle customers engagement.

Here you go. All credit to Scott Cawthon.

Answer:

Lobbying for or against trade restrictions:

Trade restrictions affect the overall welfare of an economy because they change the price consumers pay for a good and the quantity produced and consumed domestically. Trade restrictions, such as tariffs, usually benefit domestic and hurt domestic because they the domestic price of a good.

True

Producers find it difficult to exert the political influence needed to establish trade restrictions because the benefits to producers are very small and widely dispersed, which makes it difficult for producers to organize.

False

Explanation:

Answer:

1. True

2. False

Explanation:

Hope this helps

Answer:

for whom to produce

Explanation:

for whom to produce