What are the main differences in the content and format of audit
report before and after accounting scandal?
Answers
In summary, the main differences in the content and format of audit reports before and after accounting scandals are the introduction of the auditor's responsibility, enhanced auditor independence, emphasis on internal control, inclusion of critical audit matters, and the adoption of a standardized language and format. These changes help to enhance the credibility, transparency, and usefulness of audit reports for stakeholders.
1. Introduction of Auditor's Responsibility: After accounting scandals, audit reports started emphasizing the auditor's responsibility to express an opinion on the financial statements. This helps to clarify the auditor's role and responsibilities in the audit process.
2. Enhanced Auditor Independence: Post-scandal, the audit reports require auditors to confirm their independence from the audited entity. This helps to mitigate potential conflicts of interest and ensures the credibility of the audit process.
3. Emphasis on Internal Control: After accounting scandals, the audit reports have started to include an assessment of the company's internal control system. This highlights the importance of a robust internal control system in preventing fraudulent activities.
4. Critical Audit Matters (CAMs): Post-scandal, audit reports now include a section on CAMs, which are matters that, in the auditor's professional judgment, were of most significance during the audit. This provides additional insights into the areas of higher risk and complexity in the audit process.
5. Standardized Language and Format: To improve consistency and comparability, audit reports after accounting scandals follow a more standardized language and format. This allows stakeholders to better understand and compare audit findings across different companies and industries.
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Related Questions
Gina booked a room at the Whispering Sands Resort because, as advertised on its website, she expected to check in at 11:00 am, the swimming pool would be heated, the talent in the dining area would be able to sing, and the breakfast would be fresh. When she arrived, she had to wait for her room, found the swimming pool to be 50 degrees, realized the singer could not carry a tune, and the free continental breakfast was stale. The Whispering Sands Resort was experiencing a severe ________ gap
Answers
The Whispering Sands Resort was experiencing a severe service quality gap.
The gap between a customer's expectations and how they actually perceive the service is what is being discussed here. Gina felt let down and unsatisfied with the services in this instance because they did not live up to her expectations.
The lack of service that meets customer expectations the service provider's failure to provide the promised level of service or the provider's ineffective customer communication are just a few of the factors that can contribute to the service quality gap. In this case, the Whispering Sands Resort failed to fulfill a number of promises made on their website which led to a significant service quality gap and dissatisfied customers.
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when would sunk costs be irrelevant for current decision making?
Answers
Sunk cost are always irrelevant when making current decisions.
Sunk cost is the cost that has already been incurred and cannot be recovered. Sunk cost should not be considered when making future economic decisions.
An example of sunk cost: A farmer buys a piece of land for $100,000. He plants on the land. Years later, the land becomes infertile. The farmer is considering selling the land. In this question, the cost of the land is sunk cost. The sunk cost is $100,000. The farmer should not consider this cost when determining if to sell the land or not.
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Transtech Inc. produces transformers. Each order is custom designed and manufactured for the customer. Each order goes through 3 phases: 1. Transformer Design, which takes 2 weeks
2. Procurement, which has a lead time of 8 weeks 3. Assembly and Testing, which takes 6 weeks The design group can handle only 4 projects at any given time. The other groups are not capacity constrained. Please answer the following: 1. How many projects is Transtech able to complete per year? 2. How much total work-in- process (number of projects started but not yet completed) does the company typically have? (Hint: Little's Law)
Answers
Transtech Inc. produces transformers. Each order is custom designed and manufactured for the customer. Each order goes through 3 phases: 1. Transformer Design, which takes 2 weeks; 2. Procurement, which has a lead time of 8 weeks; and 3. Assembly and Testing, which takes 6 weeks.
The design group can handle only 4 projects at any given time. The other groups are not capacity constrained.Little's Law: Little's Law is used to determine the average number of customers in a stable system and the relationship between the average number of customers, the average time each customer spends in the system, and the average rate at which new customers enter the system.Answers:1. Number of projects Transtech Inc. can complete per year:
Each order requires 16 weeks (2 + 8 + 6) to complete.From the given information, the design group can handle only 4 projects at any given time.Therefore, the number of projects Transtech Inc. can complete per year is:Number of weeks in a year = 52Number of weeks required to complete one project = 16 (2 + 8 + 6)Number of projects Transtech Inc. can complete per year = 52/16*4 = 13 projects per year2.
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Engi Sola Corp. Manufactures solar engines for tractor trailers. Given the fuel savings available, new orders for 125 units have been made by customers requesting credit. The variable cost is $9,700 per unit, and the credit price is $11,100 each. Credit is extended for one period. The required return is 1.9% per period. If Engi Sola extends credit, it expects that 30% of the customers will be repeat customers and place the same order every period forever, and the remaining customers will be one-time orders.
Answers
Answer:
The net present value (NPV) of the decision to grant credit is $2,938,157.89.
Explanation:
Note: This question is not complete. The complete question is therefore provided before answering the question as follows:
Engi Sola Corp. Manufactures solar engines for tractor trailers. Given the fuel savings available, new orders for 125 units have been made by customers requesting credit. The variable cost is $9,700 per unit, and the credit price is $11,100 each. Credit is extended for one period. The required return is 1.9% per period. If Engi Sola extends credit, it expects that 30% of the customers will be repeat customers and place the same order every period forever, and the remaining customers will be one-time orders.
Calculate the NPV of the decision to grant credit.
The explanation of the answer is now given as follows:
Number of new orders = 125 units
Percentage of repeat order = 30%
Number of order that will be repeated forever = Number of new orders * Percentage of repeat order = 125 * 30% = 37.50 units
Credit price per unit = $11,100
Variable cost per unit = $9,700
Contribution margin per unit = Credit price per unit - Variable cost per unit = $11,100 - $9,700 = $1,400
Total contribution for all new order = Number of new orders * Contribution margin per unit = 125 * $1,400 = $175,000
Total contribution margin for order that will be repeated forever = Contribution margin per unit * Number of order that will be repeated forever = $1,400 * 37.50 = $52,500
Net present value (NPV) of total contribution margin for order that will be repeated forever = Total contribution margin for repeated order forever / Required return = $52,500 / 1.9% = 2,763,157.89
Net present value (NPV) of the decision to grant credit = Total contribution for all new order + NPV of total contribution margin for order that will be repeated forever = $175,000 + 2,763,157.89 = $2,938,157.89
Therefore, the net present value (NPV) of the decision to grant credit is $2,938,157.89.
Will the grading period effect what college you will go to later on?
A (True)
B (False)
Answers
Answer: A
Explanation:
Answer:
NO
Explanation:
Metro General is a municipally-owned and operated hospital and a component unit of Metro City. In 2007, the hospital received $7,000 in unrestricted gifts and $4,000 in unrestricted bequests. The hospital has $800,000 in long-term debt and $1,200,000 in fixed assets.
The hospital has transferred certain resources to a hospital guild. Substantially, all of the guild's resources are held for the benefit of the hospital. The hospital controls the guild through contracts that provide it with the authority to direct the guild's activities, management, and policies.
The hospital has also assigned certain functions to a hospital auxiliary, which operates primarily for the benefit of the hospital. The hospital does not have control over the auxiliary.
The financial statements of the guild and the auxiliary are not consolidated with the hospital's financial statements. The guild and the auxiliary have total assets of $20,000 and $30,000, respectively.
Before the hospital's financial statements were combined with those of the city, the city's statements included data on one Special Revenue Fund and one Enterprise Fund.
The city's statements showed $100,000 in Enterprise Fund Long-Term Debt, $500,000 in Enterprise Fund Fixed Assets, $1,000,000 in General Long-Term Debt, and $6,000,000 in General Fixed Assets.
What account or accounts should be credited for the $7,000 in unrestricted gifts and the $4,000 in unrestricted bequests?
A. Operating Revenue $11,000
B. Nonoperating Revenue $11,000
C. Operating Revenue $ 7,000
Nonoperating Revenue $4,000
D. Nonoperating Revenue $ 7,000
Operating Revenue $4,000
Answers
The account or accounts that should be credited is B. Nonoperating Revenue $11,000
Based on the information given the account or accounts that should be credited is Nonoperating Revenue with the amount of $11,000.
Calculated as:
Nonoperating Revenue=Unrestricted gifts +Unrestricted bequests
Nonoperating Revenue=$7,000+$4,000
Nonoperating Revenue=$11,000
Hence:
Nonoperating Revenue are amount or income generated that are not part of company or organization Operating activities
Inconclusion The account or accounts that should be credited is B. Nonoperating Revenue $11,000.
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Meghan deposited $1,500 at the end of every month into an RRSP for 9 years. The interest rate earned was 5.50% compounded semiannually for the first 2 years and changed to 5.75% compounded monthly for the next 7 years. What was the accumulated value of the RRSP at the end of 9 years? Round to the nearest cent
Answers
The accumulated value of the RRSP at the end of 9 years is approximately $35,685.75.
To find the accumulated value, we can break down the calculation into two parts: the first 2 years with a semiannual compounding period and the next 7 years with a monthly compounding period.
Part 1: Semiannual compounding for the first 2 years.
Since the interest is compounded semiannually, we need to calculate the number of compounding periods over the 2-year period. Since there are 12 months in a year and the compounding period is semiannual (every 6 months), there will be a total of 4 compounding periods over the 2 years.
The interest rate is 5.50%, which is expressed as a decimal as 0.055. The formula to calculate the accumulated value for semiannual compounding is:
Accumulated value = \(P(1 + r/n)^(nt)\)
where P is the initial deposit, r is the interest rate, n is the number of compounding periods per year, and t is the number of years.
Using the given values, we can calculate the accumulated value for the first 2 years:
Accumulated value = 1500(1 + 0.055/2)^(2*2)
Accumulated value = 1500(1 + 0.0275)^4
Accumulated value = 1500(1.0275)^4
Accumulated value ≈ $6,285.77
Part 2: Monthly compounding for the next 7 years.
Since the interest rate changed to 5.75% compounded monthly, we need to calculate the number of compounding periods over the 7-year period. Since there are 12 months in a year, there will be a total of 84 compounding periods over the 7 years.
The interest rate is 5.75%, which is expressed as a decimal as 0.0575. The formula to calculate the accumulated value for monthly compounding is:
Accumulated value =\(P(1 + r/n)^(nt)\)
Using the given values, we can calculate the accumulated value for the next 7 years:
Accumulated value = 1500(1 + 0.0575/12)^(12*7)
Accumulated value ≈ $29,399.98
Now, to find the total accumulated value at the end of 9 years, we need to add the accumulated values from both parts:
Total accumulated value = Accumulated value from part 1 + Accumulated value from part 2
Total accumulated value ≈ $6,285.77 + $29,399.98
Total accumulated value ≈ $35,685.75
Therefore, the accumulated value of the RRSP at the end of 9 years is approximately $35,685.75.
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2. If changes happen during September or October, which expenses will you be able to change most easily? Give an example of how you could make a change. (5 points)
Answers
The correct answer to this open question is the following.
Although the question does not provide any context, references, or give options, we can say that if changes happen during September or October, the expenses you will be able to change most easily are according with the provisions projected in the annual plan, the budget, compared with the monthly expenses.
That is why a company has to elaborate on a good financial plan and overseeing the projections and true sales of the marketing and sales plan. This is important to take the proper control of expenses and revenues. Depending on the volume of sales during September and October, you can decide what kind of changes or adjustments to make in the following months.
Answer:
I would be able to change the variable expenses most easily. Such as food, clothing, and discretionary spending.
I could make the change by
Budgeting in October:
food from spending -$70 back to -$60
cut clothes off since I bought some already from -$40 to $0
budget my discretionary spending from -$60 back to -$40
This would increase my savings to $230
I will give the right answer brainliest. Choose the option that best matches the description given.
_____ try to influence legislation and help human services organizations to achieve their goals.
1. Legislative aides
2. Lobbyists
3. Lawyers
Answers
Answer:
2. Lobbyists
Explanation:
A lobbyist is any individual or a group of individuals who communicates directly or indirectly with others to influence or attempt to influence the drafting, debate, vote, approval, or introduction of some legislation. In this context, a lobbyist may be a legislator trying to influence fellow legislators or any person who communicates with a legislator to advocate and promote the desires of human services organizations.
Answer:
Lobbyists
Explanation:
Any christian guys wanna be friends?
Answers
Answer:
Explanation:
Im not a guy im a girl but can we still be friends
Using the midpoint method, the price elasticity of demand for corn between the prices of $10 and $8 per bushel is , which means demand is between these two points. Therefore, you would tell the grower that her claim is , because total revenue will as a result of the spell of good weather.
Answers
Answer and Explanation:
The computation is shown below:
Price elasticity of demand is
= (Q2 - Q1 ÷ {(Q2 + Q1) ÷ 2}) × {(P2 - P1 ÷ 2) ÷ (P2 + P1)}
where,
Q2 = 30
Q1 = 25
P2 = $10
P1 = $8
Now put these values to the above formula
So, the price elasticity of demand is 0.82
So, Demand is inelastic.
Her claim is correct.
So, the total revenue will Decrease.
Total revenue at the time of prior smell of good weather
= 10 × 25
= 250
And, the Total revenue at the time of after smell of good weather
= 8 × 30
= 240
Therefore, you would tell the grower that her claim is correct because total revenue will decrease as a result of the spell of good weather.
Based on the complete question, it should be noted that the price elasticity of demand is 0.82. in this case, since the price elasticity of demand is less than 1, it's an inelastic demand.
Also, it implies that her claim is correct. The total revenue from the information given will then be:
= 10 × 25 = 250 and 8 × 30 = 240.
Therefore, there's a decrease in revenue.
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the data below represent the demand for a new aftershave in a shop for each of the last 7 months.
Month 1 2 3 4 5 6 7
Demand 25 27 30 40 41 43 45
a.Calculate a two-month moving average for months two to seven. What would be your forecast for the demand in month eight?
b.Apply exponential smoothing with a smoothing constant of 0.1 to derive a forecast for the demand in month eight.
c.Which of the two forecasts for month eight do you prefer and why?
Answers
To calculate the two-month moving average, we add the demand values for months two to seven and divide the sum by 6 (number of months). The calculation is as follows:
(27 + 30 + 40 + 41 + 43 + 45) / 6 = 226 / 6 = 37.67
Therefore, the forecast for the demand in month eight using the two-month moving average is approximately 37.67.
To apply exponential smoothing with a smoothing constant of 0.1, we start with the demand value of month seven as the initial forecast. The calculation is as follows:
Forecast for month eight = Smoothing constant * (Demand for month seven) + (1 - Smoothing constant) * (Previous forecast)
Forecast for month eight = 0.1 * 45 + 0.9 * 45 = 4.5 + 40.5 = 45
Therefore, the forecast for the demand in month eight using exponential smoothing is 45.
In this case, both forecasts for month eight are identical. Both the two-month moving average and exponential smoothing methods yield a forecast of 45. Therefore, there is no preference between the two forecasts as they provide the same result.
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Mercury Company's unadjusted book balance at September 30 is $713. If the company's accountant mistakenly recorded a $123 deposit as 5132. After correcting the mistake, Mercury Company would show a cash balance of $
Answers
The correct cash balance for Mercury Company after correcting the recording mistake would be $590.
To understand the calculation, we need to adjust the mistakenly recorded deposit of $123. Since the accountant mistakenly recorded it as $5132, we need to subtract the difference between the correct amount ($123) and the recorded amount ($5132) from the unadjusted book balance ($713). The difference is $5132 - $123 = $5009. By subtracting this amount from the unadjusted book balance, we get $713 - $5009 = $-4296. However, since this negative balance indicates an error, we need to correct it by adding the absolute value of the negative balance to the unadjusted book balance. Therefore, $713 + $4296 = $5009.
Therefore, after correcting the mistake, Mercury Company would show a cash balance of $590.
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FİZİKSEL, BİYOLOJİK VE TOPLUMSAL YASALAR BÜTÜN İNSANLIĞI İLGİLENDİREN EVRENSEL YASALARDIR. EVRENDEKİ YASALAR İLE İLGİLİ KUR'AN AYETLERİ İNCELENDİĞİNDE, YARATILIŞTAKİ MÜKEMMEL ORANA VURGU YAPILDIĞI GÖRÜLÜR. +++++ verilen metinde bahsedilen ayetler aşağıdaki kavramlardan hangisinin kapsamında değerlendirilebilir? A- ilim B-kader C- tevekkül D-ibadet ******* acil bakar mısınız? 8. Sınıf din kültürü sorusu plss :((
Answers
Answer:
huh
Explanation:
one of the keys to following your carrer path is to be _
like honestly i dont need the answer but if you answer it ill give you 15 brainliest bcuz im in a good mood:) the first one to answer will get the brainliests!! good luck
Answers
Answer:
diligent I guess
Explanation:
i don't know just putting a word that sounds *smart*
Clever computers has a 5-day work week and pays the office staff $4,300 each week. If the month ends on a thursday, the adjusting entry will credit wages payable for a. $1,720. B. $860. C. $3,440. D. $4,300
Answers
The adjusting entry will credit $860 as the wages payable for the mentioned condition. Therefore option B i.e. $860is correct.
The adjusting entry will credit Wages Payable for the portion of the week that falls after the end of the month, which is one day, as Clever Computers has a 5-day work week.
To calculate the portion of the weekly salary that corresponds to one day, we divide the weekly salary by the number of workdays in the week:
Daily salary = Weekly salary / Number of workdays
Daily salary = $4,300 / 5
Daily salary = $860
Therefore, the portion of the weekly salary that corresponds to one day is $860.
Since there is only one day that falls after the end of the month, the adjusting entry will credit Wages Payable for $860.
Therefore, the payble wage is calculated to be B. $860.
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International organizations prefer to rely on Blank______ for measuring the value produced in an economy.
Answers
Answer:
I thinks it's gross national income
Explanation:
I am guessing
Which of these statements regarding the annuitant is CORRECT?
Answers
The statement regarding the annuitant which is correct is that, the annuitant's life expectancy tends to determine the annuity payments.
An annuitant is considered to be an individual who is said to be entitled in order to collect the regular payments which maybe of a pension or an annuity investment. Thus, the annuitant may be the contract holder or maybe another person, such as a surviving spouse.
However, the annuitant's life expectancy is said to determine the annuity payments. Thus, the amount which is paid depends on the age of the annuitant, the amount paid into the annuity, and an interest rate which the insurance company believes it can support.
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Most licensed architects are members of which association? A. ACSA B. AIA C. NAAB D. NCARB E. NVOB
Answers
Answer: It is B. AlA
Explanation:ALA is open to all architects and professions related to architecture. Our members hold individual memberships and specialize in all types of architecture.
"Profit plays an important role in the business." In the light of this statement,
Explain three reasons for the importance of profit in business.
Answers
Answer:
to secure financing from a bank
to attract investors to fund its operations
to grow the business itself
Explanation:
The 2014 announcement that Time Warner Cable and Comcast intended to merge prompted questions of monopoly because the combined company would supply cable access to an overwhelming majority of Americans. It also raised questions of monopsony since the combined company would be virtually the only purchaser of programming for broadcast shows. Assume the merger occurs: in each of the following, determine whether it is evidence of monopoly, monopsony, or neither.a. The monthly cable fee for consumers increases significantly more than the increase in the cost of producing and delivering programs over cable.
Answers
The scenario where the monthly cable fee for consumers increases significantly more than the increase in the cost of producing and delivering programs over cable is evidence of monopoly.
If the merged company has significant market power, it may be able to raise prices above competitive levels without fear of losing customers to competitors. This could lead to higher prices for consumers even if the cost of producing and delivering programs over cable remains the same or only increases slightly. However, it is important to note that there could be other factors at play that contribute to the price increase, such as changes in programming or increased demand for cable services.
This situation demonstrates monopoly because the combined company, as a single dominant provider of cable access, has the power to set prices higher than the competitive market rate without facing significant competition. This allows them to charge consumers more without necessarily providing better services or covering higher production costs.
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Word of mouth promotion is also known as what?
Answers
Answer:
Word-of-mouth advertising (WOM advertising), also called word of mouth marketing, is the process of actively influencing and encouraging organic word of mouth discussion about a brand, organization, resource, or event.
Explanation:
hope this helps, pls mark brainliest :D
Word-of-mouth advertising is another name for viral marketing.
What is Word-of-mouth promotion?The technique of deliberately influencing and supporting organic word-of-mouth talk about a brand, organization, resource, or event is known as word-of-mouth advertising (WOM advertising), sometimes known as word-of-mouth marketing.
A corporation can reach new audiences and establish a solid brand reputation by using word-of-mouth marketing. Businesses can enhance profitability, draw in new clients, and strengthen their bonds with current consumers by utilizing this distinctive and natural kind of marketing.
The type of rewards utilized has a significant impact on the effectiveness of word-of-mouth marketing. The employment of incorrect incentives to encourage customers or representatives to spread good word of mouth about goods or brands can have negative effects on a business, according to research.
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‼️‼️ Which of the following statements about international business is the most
accurate?
A. International business can be riskier than domestic business but
the size of the market makes it a very attractive option.
B. Individuals and small business are at less risk than large
corporations in selling overseas.
c. Most products on the market today are produced domestically.
D. International banking regulations are the same in most countries.
Answers
Answer:
A
Explanation:
A-P-E-X
International business can be riskier than domestic business but the size of the market makes it a very attractive option is the most accurate statement about international business among the given options. The correct option is A.
Why international business is riskier than domestic business?More regulations apply to international business than domestic business. Domestic business generally has lower quality requirements than the international company. In comparison to domestic business, overseas business typically has greater quality standards.
International business involves trading goods and services across national borders, which can expose businesses to a range of risks such as currency fluctuations, political instability, different legal systems, and cultural differences. However, the size of the international market and the potential for increased revenue and profit can make it an attractive option for businesses seeking to expand their operations.
Thus, the ideal selection is option A.
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Which is a possible benefit of having a good credit history?
getting a high interest rate on a credit card offer
obtaining a low interest rate on a loan
obtaining a savings account
having a paycheck garnished
Answers
Answer:
Your borrowing capacity is based on your income and your credit score. One of the benefits of having a good credit score is that banks are willing to let you borrow more money because you’ve demonstrated that you pay back what you borrow on time.
Explanation:
Answer:
B.
Explanation:
edge2021
the fact that managers are needed in all types and sizes of organizations, at all organizational levels and work areas, and in all global locations is known as ________.
Answers
The fact that managers are needed in all types and sizes of organizations, at all organizational levels and work areas, and in all global locations is known as the ubiquity of management.
Managers play a critical role in ensuring the success of the organization by setting goals, establishing plans, and managing the resources necessary to achieve them. They must also create an organizational culture that encourages productivity and innovation, while maintaining a safe and healthy workplace.
Managers also act as a liaison between the organization and its stakeholders, such as customers, employees, and investors.
In addition, they must ensure compliance with laws, regulations, and industry standards. By performing these roles, managers are essential to the success of any organization, regardless of its size, type, or location.
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If a firm’s pages are not near the top of query results, customers may never discover its website. This has led to _____ becoming a critical function for many marketing organizations.
Answers
Search engine optimization (SEO) has become a critical function for many marketing organizations in the long term as firms strive to improve their website's visibility and ranking in search engine results pages (SERPs).
While there are various short-term tactics to improve visibility, a sustained SEO strategy is essential for long-term success. The critical function that has become essential for many marketing organizations when a firm's pages are not near the top of query results. The term to fill in the blank is "search engine optimization (SEO)."
If a firm’s pages are not near the top of query results, customers may never discover its website. This has led to search engine optimization (SEO) becoming a critical function for many marketing organizations. SEO helps improve a website's visibility in search engine results, thus contributing to the long-term success of the business.
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What determines what goods and services are produced by a nation in the economy?
O The wants of other nations
O The wants of the citizens
None of the answers are correct
Answers
The factor that determines the goods and the services that are produced by a country is the wants of the citizens.
What is want in economics?This is a term that has to do with the goods and services that are desired by the people of a nation.
The wants of the people are satisfied using the available resources that are in the economy.
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What does the phrase internalizing an external cost mean?.
Answers
Answer:
It means, "forcing producers to factor into their production costs the cost of the externalities created in the production of their output."
Hope this Helps!
Please help me, I’ll give brainliest
Which two things are workers in the Arts, A/V Technology, and Communications cluster most focused on? Check all that apply.
A.calculating
B.training
C.communicating
D.organizing
E.performing
Answers
Answer:
communicating and performing
Explanation:
i just answered it
The two things that workers in the Arts, A/V Technology, and Communications cluster focus on are C. communicating and E. performing
Workers in the cluster cannot focus on calculating, training, and organizing. These activities are left for the management cluster.
Workers in the Arts use creative and imaginative skills to perform and communicate the visual effects of their emotional expressions. Similarly, A/V (Audio/Video) Technology workers engage in the communication industry.
Thus, these Arts, A/V Technology, and Communications workers do not focus on calculating, training, and organizing because these activities are carried out at the higher level of the cluster.
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What is the relationship between consumers and producers in economics?
Answers
Answer:
the consumers create demand for goods and services when prices are high consumers buy less. when prices are lower consumers buy more. producers make and sell what the consumers want.
Explanation:
hope this helps :)