Econ Labs creates a new smartphone feature available only on Econ Lab phones. Focus groups and surveys show many may switch from their current phone to the Econ Lab new smartphone. Also, Econ Labs created a new manufacturing process that increases the number of phones which it can produce per hour by 20%.
Instructions:
Graph the change in the supply and demand curves. Show changes in price and quantity demand (increase, decrease, or indeterminate). Assume similar elasticities-slope steepness of supply and demand curves.
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The graphical representation to display the cost of the new smartphones in the changing demand and supply curve would be a two upward and two downward curves intersecting each other.
The demand and supply are dependent on each other and it guides the price fluctuations of the commodity in the market. If the demand for a certain product increases, then its prices are bound to fall. The curve therefore has a intersection point which represented the equilibrium cost of the item. The parameters which influence the change demand are the prices of the product, income, preference and expectation of the customer. The X axis in the given graph shows the quantity and the Y axis represents the prices of them item.
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Related Questions
a company manufactures tennis balls. classify each of the following costs as either direct materials, direct labor, or factory overhead.
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Which of the following expenditures corresponds to direct materials (DM), direct labour (DL), or company overhead? (FO). Tennis balls are produced by the business.
Why is it referred to as a company?
A firm is the term used to describe a business because its employees want to create value. The word "produce," which meaning to lead forth or bring forth, has its roots in Latin. The word "company" first emerged in Old French, where it meant "compaignie" or "companionship." The term "business" also has Old English roots, when busy and -ness are combined. The majority of new applicants to the company, who are typically interested in jobs outside of human resources or recruiting, are traditionally evaluated on their skills and personalities by individuals in human resources.
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Research shows that employees can realize their innovations and make them catch on more quickly if they are
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According to research, networked personnel are better able to actualize their inventions and help them spread more swiftly.
What is the name of the network that connects hundreds of millions of computers and millions of business education and research facilities?On a global basis, there are billions of computers and other electronic devices connected to the Internet. With the aid of the Internet, you are able to communicate with anyone in the world, obtain almost any information, and carry out a lot more.
Which major technological developments have made it possible for the Internet to grow and become profitable?The main reasons influencing the commercialization of the internet were its importance and demand. Through the use of TCP and IP technology, several networks might be linked together to form one enormous network. It made use of packets and offered mechanisms for error recovery.
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Please post detailed answers to the following questions. Please use complete sentences. If someone had $5,000 and wanted to place it in a financial institution, what type of institution and account would you suggest to the person? What factors would you ask the person about before making your recommendation?
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If someone had $5,000 and wanted to place it in a financial institution, the best place to place it would be in a financial institution that can provide him or her with Whole Life Insurance or Universal Life Insurance.
The factors to be considered are:
The Credit rating of such institutions; and Their customer reviews.What is the rationale for the above preference?It should be noted that a person can only borrow against a whole life or universal life insurance policy. If policy debts are not paid off, they diminish the death benefit. Life insurance firms charge interest on the loan sum, which might cause the policy to lapse if not paid. Permanent life insurance is the only type that accumulates monetary value.
This means that a person may store money, earn interest on it, and yet trade with it when it is borrowed.
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ou are not authorized to fix this issue. a contribution from the brand owner or an authorized reseller is required to resolve this issue and activate the asin. if you are the brand owner or an authorized reseller for this brand, please apply for the appropriate role for this brand in amazon brand registry.
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You must contact Seller Support to request trademark protection. Approval can take up to 8 weeks or more, and there is no guarantee that Amazon will approve your request or that all ASINs from your brand will be banned.
Brands must be approved by Amazon before you can list products using them. Trademarks must be registered through Trademark Registration, but if a trademark is not eligible for trademark registration, you can contact Reseller Support and provide error code 5665 to request an exception.
Once a rights owner registers a trademark in the Trademark Register, they can submit a request to add representatives of the trademark, including agents.
You can sell multiple brands under a single Amazon account, with or without registered brands. It doesn't have to be a registered trademark to sell on Amazon.
Error code 5665 means that Amazon must prove that you are the brand owner of the product before listing under that brand name. By doing this, Amazon ensures that only verified brand owners can sell products and prevents sellers from listing hijackers.
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Swifty Van Company purchased equipment for $2510 cash. As a result of this event,
O total assets remained unchanged.
O total assets increased by $2510.
O stockholders' equity decreased and total assets increased by $2510.
O stockholders' equity decreased by $2510.
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"The powers not delegated to the United States by the Constitution, nor prohibited by it to the states, are reserved to the states respectively, or to the people," is the declaration made in the Tenth Amendment.
To put it another way, the Constitution does not give the federal government any powers that states do.
What is the name of states' rights?
These resolutions, also known as "state sovereignty resolutions," have no legal effect. Instead, they are meant to be a statement demanding that the federal government stop assuming powers and imposing mandates on the states for reasons that aren't listed in the Constitution.
What distinguishes a national position from a states' rights position?
The states' rights position encourages local and state intervention in addressing social and economic issues. The nationalist viewpoint supports the involvement of the national government in these matters.
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in a merge situation, the right of way goes to the car occupying the lane into which other cars are merging. true
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False, In these circumstances, the vehicle may move into its lane in order to stop the oncoming carnage. Accidents can be avoided if we follow the regulations when driving.
It is extremely possible that there will be traffic accidents; they can be caused by internal or external reasons. Drowsiness, using a cellphone while driving, and having trouble concentration are some internal issues. Other driving mistakes and harm to traffic instruments, including traffic lights that are not activated when they should, are examples of external causes. In the event of an accident, both you and other people will be affected. Losing one's life is even the worst impact.
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the following partially completed worksheet contains lane co.'s reconciliation between financial statement income and taxable income for the three years ended april 30, 20x7, and additional information. determine the amounts omitted from the worksheet. select the amount from the provided values.
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After high-level budgets have been authorized, you can then allot monies for the creation of lower-level budgets.
What tax rate is employed to calculate the assets and liabilities related to deferred taxes?The enacted tax rate that is anticipated to be in effect when temporary differences are expected to be resolved or realized is the appropriate tax rate used to measure deferred tax assets and liabilities.
Which of the following results in a deferred tax liability?A delayed tax liability typically arises when the government's accounting practices diverge from those utilized by regular business accounting regulations. One typical instance is the depreciation of fixed assets. Companies commonly use the straight-line depreciation approach to report depreciation in their financial statements.
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can be described as over-and-above the normal and expected services, applications or solutions that might be associated with a product.
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The term "augmented product" refers to something that goes above and beyond the typical and anticipated services, applications, or solutions that may be connected to a certain product.
What do you mean by augmented product?
Augmented product is a way for companies to differentiate their product offerings in the marketplace and attract more customers. Augmented products can include added features, such as warranties, support, training, installation, and customization. Companies also use augmented product to create additional value for customers by offering additional services, such as product maintenance, repair, replacement, and upgrades. By offering an augmented product, companies can increase customer loyalty and differentiate their product from the competition.
So, The required answer is augmented product.
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other things the same, the real exchange rate between american and chinese goods would be higher if
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Other things being equal, a cheaper price for Chinese goods or a higher number of yuan per dollar spent would result in a higher actual exchange rate between American and Chinese goods.
A rise in the real exchange rate is the outcome of what?Positive terms of trade emerge from an increase in the real exchange rate whenever local prices (export prices) rise more than import prices (foreign prices).
How high of a real exchange rate does that indicate?In times of high real exchange rates, domestic prices of items are generally more expensive than international prices. Because imported items are, on average, less expensive than domestic ones, imports are most likely to occur under this situation. In light of this, when the real exchange rate is high, imports increase and net exports decline.
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an insurance claims processing company moves paperwork among four process steps. each process step is performed in four separate areas. each area is located on the same side of a corridor with a distance of 41 feet between each area. we'll call this existing arrangement layout 1.
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The four phases of the insurance claims processing procedure are moved by a corporation. Layout 2 will be superior since there would be reduced walking distance.
A party promises to reimburse another party in exchange for a fee in the case of a certain loss, damage, or injury as a way of financial loss protection. It is a method of risk management that is primarily employed to protect against the risk of a potential loss. Insurance, often known as insurance coverage or insurance policy, is a contract between the insurer and the insured. The insurance offers financial protection against any damages the insured could incur in specific situations. Automobile insurance, health insurance, vacation insurance, and house insurance are a few examples of general insurance.
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the following information is from the materials requisitions and time tickets for job 9 completed by great bay boats. materials requisitions are identified by code numbers starting with the letter m, and the time tickets start with t. estimated (applied) overhead for job 9 is $1,400
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According to the problem the total table costs for job 9 is $1,835 .
What is costs ?
Costs with explanation can refer to the cost of a service or product, as well as the explanation of why it costs what it does. For example, a company may charge $150 for a 1 or paper.
Costs are expenses or fees associated with a purchase or service. They can include the cost of materials, labor, taxes, shipping, and other related fees. Costs can also refer to the amount of money spent on a particular activity or project.
M-10: $450
M-11: $550
T-12: $200
T-13: $350
Total Cost of Job 9 = $1,550
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select the statement that is true of current products liability law, rather than consumer law prior to the 20th century? A. It is an important way of ensuring consumer product safety.B.It is rarely applied, as most consumer products are extremely safe.C.It rests on the principle of "buyer beware."D.It assumes that most commerce is local.
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It assumes that most commerce is local. the statement that is true of current products liability law, rather than consumer law prior to the 20th century.
Product liability: What is it?Plaintiffs have a legal right to pursue a claim under the doctrine of product liability if they come across a defective consumer good. Although strict liability is sometimes linked with this doctrine, negligence can also apply to it, making defendants accountable regardless of their knowledge or purpose. It is possible to hold multiple parties accountable for the harm a defective product causes. A product liability claim may also name the designer, the distributor, the retailer, and other companies in the chain of distribution in addition to the manufacturer.
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Goods, services, and ideas can all be considered_____in the right circumstances, when consumers exchange something of value for them to satisfy their needs.
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Goods, services, and ideas can all be considered products in the right circumstances when consumers exchange something of value for them to satisfy their needs.
A products is any good, service, or idea that can be offered to a request to satisfy a want or need. There must be at least two parties; each party has a commodity that might be of value to the other party; each party can provide communication and delivery; each party is free to accept or reject the exchange offer; each party believes it's applicable or desirable to deal with the other party.
Marketing is the process of communicating the value of a product or service to guests for the purpose of dealing with that product or service at a profit. Or, as Kotler( a leading marketing academic) states" a mortal exertion directed at satisfying requirements and wants through exchange processes."
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assume that a movement along the short-run aggregate supply curve increases the price level but decreases the unemployment level in the economy. which of the following conclusions can be drawn from these outcomes? (2 points)
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The inferences that may be made from these results are that there is a short-run trade-off between inflation and employment.
What is the relationship between unemployment and inflation over the short term?A boost in aggregate demand, however, results in a brief increase in output and inflation while lowering unemployment, such that in the short run, inflation and unemployment are related. This chapter explores how our understanding of the relationship between unemployment and inflation has changed through time.
In the short run, unemployment and inflation force society to make trade-offs. Policymakers believe that increasing aggregate demand can lower unemployment, but only at the expense of raising inflation. They can limit aggregate demand to keep inflation from rising, but doing so will temporarily increase unemployment.
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a well-known corporation planned to expand one of their product lines and needed financing. the corporation wanted financing that could be quickly arranged. all information about the financing needed to be kept confidential so their competitors would not find out about the expansion.
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Projected out over a period of two to three years are the balance sheets, income statements, and cash flow statements on an annual basis.
Which of the following is not a feature of financial plan Mcq?The financial plan outlines every action, resource, piece of equipment, and material needed to reach these goals within the allotted time frame. Since the strategy is concerned with determining the organization's cash flow, cost is not a component.The balance sheet of an organisation, often known as the statement of financial position, offers details on the company's book value. The balance sheet, which is divided into three sections, summarises the company's assets, liabilities, and shareholders' equity as of a particular date.The balance sheet, also known as the Statement of Financial Position, acts as a snapshot and gives the most thorough account of a company's financial condition.To learn more about balance sheets refer to:
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Which of the following accounts would NOT likely appear in a job order cost system of a service business?
A. Finished Goods
B. Work in Process
C. Factory Overhead
D. None of these choices are correct.
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Finished Goods accounts would NOT likely appear in a job order cost system of a service business.
The correct answer is option A.
The finished products inventory account keeps track of the costs associated with things that have been finished and are ready for sale. These three inventory accounts are shown as assets on the balance sheet. The costs of finished goods that are sold are included in the cost of goods sold statement. Job-order costing is used by businesses that produce a variety of things on a regular basis. Costs are accumulated for each job. Process costing is used by businesses that produce several identical units of a single product over a prolonged period of time. Costs are totaled for each production department. In pricing a job order, direct labour is the cost of labour. The allowances may be roughly divided into two categories: direct labour utilised during manufacturing and indirect labour associated with everything else.
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graphically, the marginal cost curve and the average total cost curve intersect where . responses fixed cost is minimized fixed cost is minimized average total cost is minimized average total cost is minimized marginal cost is minimized marginal cost is minimized average total cost is maximized average total cost is maximized
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Out of the provided choices, it may be concluded to mention that the average total cost is maximized when the marginal cost curve and the average total cost curve intersect. Therefore, the option D holds true.
The average total cost can be considered to be the total cost divided by the total number of units consumed in a period of consumption. These costs are maximized when the marginal cost meets the point at which the marginal cost curve reaches the level of maximum satisfaction. Moreover, average total cost can never be negative.
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The Coca-Cola Company introduced a low-sugar, high-protein, lactose-free dairy milk product called Fairlife. For Coca-Cola, Fairlife milk products represent which of the following growth strategies?O Market development
O Product development
O Market penetration
O Product penetration
O Diversification
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Argentine pesos are worth 3 Canadian dollars. It demonstrates how much of one currency is required to swap for another's worth in that currency.
The term "conversion" is most frequently used in foreign exchange markets to refer to the ratio between two currencies. It demonstrates how much of one currency is required to swap for another's worth in that currency. Given the previous, allow: Rate of the Canadian Dollar to the Argentine Peso is given as CAD/ARS. Rate of the Canadian Dollar in US Dollars is $0.90. The Argentine peso is now worth $0.30 in US dollars. Here, because the US dollar serves as both the Canadian dollar's and the Argentine peso's common variable currency (i.e., the currency whose amount can change for one unit of another currency), the Canadian dollar's exchange rate in terms of the Argentine peso is given by: CAD/ARS is equal to (CAD/USD) / (ARS/USD). CAD/ARS equals $0.9/$0.03 ARS/CAD = 3.
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Why should a Notary Signing Agent learn about all the closing documents in a loan package if they are not allowed to provide advice or counsel?
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A notary signing agent should be aware with the loan package's closing documents because they are not permitted to offer advise or counsel. This is necessary so that the notary can sign the documents entirely and precisely.
Who is a Notary Signing Agent?A Notary who has received training to handle loan paperwork is known as a Notary Signing Agent. In order to help with the final step of the loan procedure, lenders and title companies employ signing agents as independent contractors.
Notary Signature Agents play a crucial role in mortgage and loan closings by verifying the legitimacy of both the parties signing the paperwork and the documents themselves.
Lending institutions typically employ a Notary Signing Agent to ensure that a mortgage closing is completed properly and that all required paperwork is in order.
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lee's december 31, year 3 financial statements were issued on march 31, year 4. on january 15, year 4, the entire $200,000 balance of the 16% note was refinanced by issuance of a long-term obligation payable in a lump sum. in addition, on march 10, year 4, lee consummated a noncancelable agreement with the lender to refinance the 14%, $125,000 note on a long-term basis, on readily determinable terms that have not yet been implemented. both parties are financially capable of honoring the agreement, and there have been no violations of the agreement's provisions. on the december 31, year 3 balance sheet, the amount of the notes payable that lee should classify as short-term obligations is
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Under FAS 6, current liabilities that are refinanced before the issuance of the financial statements can be reclassified as noncurrent provided they meet the requirements of FAS 6.
A liability is defined in financial accounting as the foregonement of future economic benefits that one entity must generate to other entities as a result of past transactions or other past events.
The settlement of such interests may result in the future transfer or use of assets, provision of services or other economic benefits. The qualities listed below characterize a passive: any form of short or long term borrowing from people or banks to increase the income of a business or individual.
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Amortization refers to systematic periodic transfer of the cost of a fixed asset to an expense account.
a. True b. False
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The correct option b False: Amortization is the regular, systematic transfer of a fixed asset's cost to the an expense account is a incorrect statement.
Explain the term amortization?Amortization is the process of repaying a debt in a series of regular payments.
Each payment has a principal portion that goes forward towards the loan balance and an interest portion. The amount allocated toward principal increases steadily month by month as the debt amortizes, starting out small at first. You can view the amount of money you pay in both interest and principal over time in an amortization schedule. Enter the loan information into this calculator to see how the payments are distributed during the loan term. Initially, the interest and not the principal receives the lion's share of your payment. According to the loan amortization schedule, as the loan's term lengthens, a greater proportion of your payments go toward reducing the principal on until loan is paid off.Thus, Amortization is the regular, systematic transfer of a fixed asset's cost to the an expense account is a incorrect statement.
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Anyone 16 years or older who tried to find a job in the last four weeks will be included in the _____ rate. unemployment The monthly statistic that measures the pace of inflation or deflation is called the:
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A free market economy is one without government intercession or guidelines. In a simply unrestricted economy, purchasers and merchants show up at costs dependent just upon the organic market.
The joblessness rate alludes to the level of regular citizens something like 16 years of age who are jobless and attempted to get a new line of work within the latest a month. The purchaser cost record (CPI) measures changes in the costs of around 400 labor and products that customers purchase.
Private enterprise is much of the time considered a financial framework in which private entertainers own and control property as per their inclinations, and request and supply uninhibitedly set costs in business sectors in a way that can serve the wellbeing of society. The fundamental component of private enterprise is the thought process to create a gain.
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30 question (30/50) if you injure yourself on the job, you should notify restaurant leadership within 3 hours.
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False, You shouldn't tell the restaurant management if you get hurt on the job before three hours have passed.
When should you report an accident?Within 72 hours of the incident, each notice made pursuant to subparagraphs (1) and (4) must be confirmed by making a written report to the inspector in Form XII and getting the required acknowledgment, with the proviso that in the event of an accident covered by Cl.
What actions should be taken if a worker is wounded at work?In the event of an injury, the employer is required to inform the Compensation Commission about the incident or illness within seven days, and within fourteen days in the event of a suspected occupational sickness. The employer is still compelled to disclose the illness or injury, even if they don't believe it to be work-related.
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The Arc Electronic Company had an income of 62 million dollars last year. Suppose the mean income of firms in the same industry as Arc for a year is 45 million dollars with a standard deviation of 15 million dollars. If incomes for this industry are distributed normally, what is the probability that a randomly selected firm will earn more than Arc did last year? Round your answer to four decimal places.
If you would like to look up the value in a table, select the table you want to view, then either click the cell at the intersection of the row and column or use the arrow keys to find the appropriate cell in the table and select it using the Space key.
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The probability that a randomly selected firm will earn more than Arc did last year is 0.04.
How to calculate the probability?To find the probability that a randomly selected firm will earn more than Arc did last year (62 million dollars), we need to know the standard normal variable (z-score) that corresponds to the value of 62 million dollars. We can calculate this by using the formula:
z = (x - μ) / σ
Where x is the value we are trying to find the standard normal variable for (62 million dollars), μ is the mean income of firms in the same industry (45 million dollars), and σ is the standard deviation of income for firms in the same industry (15 million dollars).
So, we have:
z = (62 - 45) / 15 = 2.8
Since the income distribution of firms in the same industry as Arc is assumed to be normal, we can use the standard normal table or calculator to find the probability that a randomly selected firm will earn more than Arc did last year.
Probability P(z>2.8) = 1 - P(z<2.8)
= 1- 0.9957
= 0.04
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a single point of contact for face-to-face, telephone, or e-mail access for users who are customers or employees is a
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A customer service representative or representative is the single point of contact for face-to-face, telephone, or email access for users who are employees or customers.
What are service desk and help desk?Both the help desk and the service desk are customer service departments that offer customers technical support. The primary distinction between the two is that while the service desk is more holistic and supports all aspects of customer service, the help desk focuses more on technical issues.
Technical experts with expertise in a product or service's technical aspects typically work at a help desk. On the other hand, the service desk is staffed by professionals in customer service who are well-versed in all facets of customer service, such as customer relations, technical support, and product or service updates.
Service desks are used for more general customer service issues, whereas help desks are typically used for specific technical issues. In order to provide customers with an excellent overall customer experience, both the help desk and the service desk are necessary.
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Which of these would be found on a company's balance sheet? (Select all that apply.) a. Sales revenue b. Notes payable c. Equipment d. Accounts receivable
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Assets, liabilities, and equity are all listed on the balance sheet with the total of assets being equal to the total of liabilities and equity.
Liabilities? Why exactly do you say that?
Although it usually relates to being responsible for something, liability can also include owing someone money or services. For instance, a homeowner's tax obligation can include the total of unpaid federal income taxes or unpaid city property taxes.
Despite appearances to the contrary, spending and liabilities are not the same thing. The recurring payments your business makes to cover running costs are known as expenses. Obligations and debts owing to other people are known as liabilities.
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Which of the following securities can be traded using the NASDAQ Market Center Execution System (Single Book)?A. NASDAQ Global Market issuesB. NASDAQ Capital Market issuesC. All NASDAQ issuesD. All securities trading in the secondary market
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All NASDAQ issues can be traded using the NASDAQ Market Center Execution System (Single Book).
What is execution System?
An execution system is a system of processes, people, and technology used to manage and implement strategies, plans, and operations within an organization. It is the foundation of an organization's overall performance and is responsible for bringing together the different elements and resources needed to successfully execute business strategies. The execution system is responsible for ensuring that the correct tools, processes, and people are in place to achieve successful results. This includes having the right leadership, organizational structure, processes, and technology in place. Execution systems also require metrics and feedback loops to track progress, measure results, and identify areas for improvement.
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which of the following best describes a perfectly competitive market? in the long run, price will change to reflect whatever changeMany small firmsl producing a homogeneous product and facing no significant barriers to entry.
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Many small firms producing a homogeneous product and facing no significant barriers to entry. This best describes a perfectly competitive market.
What is competitive market?
In response to customer demand for products and services, a competitive market develops. Due to the rivalry created by this market system, firms must assess their costs of production, pricing policies, and product output.
Perfect competition, as well as competitive markets, aim to factor in both the buyer and the supplier equally and develop strategies based on the market's current supply and demand. We define competitive marketplaces, describe their traits, and explain their functions and distinctions in this article.
No one consumer or producer can control the market in an environment where there is competition.
A market that is totally competitive has numerous knowledgeable buyers and sellers, no obstacles to entrance, and no potential for monopolies.
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FILL IN THE BLANK in a troubled debt restructuring, the total fair value of the consideration given to discharge the obligation will_____ the recorded amount of the debt.
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In a troubled debt restructuring, the total fair value of the consideration given to discharge the obligation will always be less than the recorded amount of the debt(due).
A liability is an obligation by one party, the debtor, to demand payment of money or other agreed-upon value from another party, the creditor.
A commitment is a deferred payment or series of payments distinct from a full purchase. Debts may be owed by sovereign nations or nations, local governments, corporations or individuals.
Commercial debt is typically subject to contractual terms regarding the amount and timing of principal and interest repayments. Loans, bonds, bonds, and mortgages are all types of liabilities.
In financial accounting, liabilities are a type of financial transaction rather than equity.
The term can also be used figuratively to cover moral obligations and other interactions not based on monetary value.
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troy works in sports ticket sales for his university. he needs information when he needs it. not before. not after. in sports, that means knowing whether tickets are still available on game day. troy is concerned with .
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Troy works in sports ticket sales for his university. He needs information when he needs it. Not before. Not after. In sports, that means knowing whether tickets are still available on game day. Troy is concerned with timeliness.
What was a university originally defined as?University comes from the Latin universitas magistrorum et scholarium, which roughly translates as "community of teachers and scholars." Catholic Church monks founded the earliest academic institutions in Europe.
What advantages do colleges offer?Build the fundamental skills you'll need for your career and working life, including teamwork, leadership, problem-solving, organization, and communication. A degree makes you more appealing to companies, gives you additional employment options, and increases your earning potential.
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