Which individuals helped pioneer administrative management theory?

The critical difference in tort liability between the average person and skilled professionals is known as the Standard Of Care.

Standard of Care: In establishing whether someone was negligent and potentially liable for a tort, the standard of care is a key notion. A person is accountable for negligence if they violate the standard that applies to them and their actions hurt another person.

TORT: A tort is a civil wrong for which a person is legally responsible. A tort is an act or omission that causes harm to another person.

The critical difference in tort liability between the average person and skilled professionals is known as the Standard Of Care.

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The accounts payable account is liability account., Therefore, the correct option is D.

What is liability account?

When a liability account is debited, the amount owed by the company is reduced (i.e., the liability increases), and when a liability account is credited, the amount owed by the company grows (i.e. increases the liability). Current liabilities and long-term liabilities are the two categories that make up liability accounts.

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The present value of a 5-year annuity due, with a $100 annual cash flow, paid semi-annually, and a discount rate of 20%.

This question requires the application of PV of an annuity due, which can mathematically be represented as:

1- (1 + i)- PV of an Annuity Due =R*- i *(1 + i)

i = 20%/2 = 10% (semi-annually)

n = 5 * 2 = 10 semi-annual periods

R = $100/2 = $50 (semi-annually)

PV = 50* a 1-(1 + 0.10) -10 0.10 *(1 + 0.10)

PV = 50 * 6.1446 * 1.1

PV = $337.95

An annuity is a long-term investment issued by an insurance company that protects you against the risk of loss of income. Annuities turn purchase payments (contributions) into recurring payments that last a lifetime.

The main drawbacks are long contracts, loss of control over investments, little or no interest income, and high fees. Annuities also offer fewer liquidity opportunities and you must withdraw money from your annuity without penalty until you reach age 59.5. An annuity is a good investment for those who want a stable income after retirement. Annuities are insurance products, not investments in high-growth stocks. This makes pensions a more balanced addition to the financial portfolio for those approaching or in retirement.

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A loss of minimum essential coverage usually counts as a qualifying event that triggers a special enrollment period.

Events that meet the criteria for a special enrollment

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Under perfect competition, any profit-maximizing producer faces a market price equal to its Marginal cost.

    A perfect competition, often referred to as an atomistic market, is defined by various idealizing criteria, which are together referred to as perfect competition, or atomistic competition, in economics, specifically general equilibrium theory.

   Any business that seeks to maximize its profits must contend with a market price (P = MC) that is equal to its marginal cost. This suggests that the price of a factor is equal to its marginal revenue product. It enables the supply curve, on which the neoclassical approach is based, to be derived. A monopoly does not have a supply curve for the same reason. Except in very limited circumstances like monopolistic competition, the abandoning of price taking makes it extremely difficult to demonstrate an universal equilibrium.

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Answer:

Explanation:

$60,000

The amount of debt, time and method of payment, interest rate and other loan terms are part of the principal. The principal is the sum of money you initially promised to repay. The cost of borrowing the principal is interest. In general, any payment made on a vehicle loan will be used to cover any outstanding fees first (for example, late fees)

Principal is the initial sum of a loan in the context of borrowing; it can also refer to the balance still owed on a loan. The principal of a $50,000 mortgage, for instance, is $50,000. If you pay down $30,000, the remaining $20,000 is the primary balance.

The principal of a loan determines how much interest you pay. The amount of your monthly loan installments is applied to the accrued interest first and only then to the principle when you make a payment.

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Predetermined overhead rate multiplied by the actual amount of the allocation base used by the particular work is the formula used to determine how much manufacturing overhead should be allocated to jobs.

You must total up all indirect costs associated to the manufacturing of a product in order to determine manufacturing overhead. This covers the price of depreciation, factory supplies, electricity, insurance, maintenance to machines, indirect materials and labor, and more. Manufacturing support costs or factory overheads are other names for manufacturing overhead. Manufacturing overhead costs do not include overhead charges like general administrative costs and marketing expenses.

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The problem with using a panel consensus is that senior management may frighten lower-level employees. This statement is true.

Panel consensus is a qualitative forecasting method that gathers all of an organization's internal specialists for a free-wheeling discussion on a good or service. The meeting will end when a consensus is reached, and anyone may participate. Ex post facto validation of the forecast's accuracy using actual sales data.

Other names for it include expert aggregation, ensemble averaging, model averaging, forecasting averaging, and forecasting averaging. Because only professionals from within the company are involved, this strategy varies from Delphi or market research. A panel consensus procedure can be used on a regular basis for a group of precisely defined variables. The forecast serves as a risk gauge or predictor of "less likely" events.

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To do a thorough environmental scan, a marketer must consider both current and potential Competitors in designing a marketing strategy.

What is a Environmental scan?

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He pays average 9.7% interest rate on the total $23,500.

What is Interest Rate?

The amount of interest due each period expressed as a percentage of the amount lent, deposited, or borrowed is known as an interest rate (called the principal sum). The total interest on a loaned or borrowed sum is determined by the principal amount, the interest rate, the frequency of compounding, and the period of time the loan, deposit, or borrowing took place. The interest rate over a year is known as the annual interest rate. Other interest rates are applicable over shorter time frames, such a day or a month, but they are typically annualised.

Total amount of interest will be:

(23,500 X x%) = (23,500 X x/100) = 235x dollar

He borrowed $4,500 from his uncle and pays 2% interest for this.

So, the amount of interest paid to his uncle/=(4,500x2%) = (4,500x0.02)=90

He borrowed the rest amount which is ($23,500- $4,500) or $19,000 from the bank and pays 11.5% interest for it.

So, the amount of interest paid to the bank/=(19,000 x 11.5%) = (19,000x0.115)= 2,185 dollars

Thus, the equation will be.

235x = 90+2185

235x = 2275x = 2275/235= 9.6808 roundoff 9.7

(Rounded to the nearest tenth)

So, he pays average 9.7% interest on the total $23,500.

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The type of information system would you use to forecast the return on investment if your firm planned to switch to a new supplier that offered products at a lower cost is DSS i.e. Decision Support System.

Decision Support System: A computerized system known as a decision support system (DSS) collects, evaluates, and then synthesizes data to create detailed information reports. The purpose of an ordinary operations application, which is only to collect data, is different from a decision support system.

The type of information system would you use to forecast the return on investment if your firm planned to switch to a new supplier that offered products at a lower cost is DSS i.e. Decision Support System.

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The greater the variety of products, services, clients, or regions an organization serves, the more it needs to use a(n) divisional structure aligned with that diversity.

What is divisional structure?

Divisional  People are grouped together in a divisional organization based on the good or service they offer rather than the task they do. A huge company like General Electric, for instance, includes divisions for electronics, transportation, and aviation. Each of these divisions has its own group of accountants, marketers, etc.

An organizational structure known as a divisional structure consists of various corporate divisions or units. It is appropriate for those businesses that: I Manufacture two or more products.

Therefore,

The greater the variety of products, services, clients, or regions an organization serves, the more it needs to use a(n) divisional structure aligned with that diversity.

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The relationship between the quantity of real GDP demanded and the price level when all other influences on expenditure plans remain the same is called Aggregate supply.

Aggregate supply are often defined as the total amount of goods and services produced or sold at various price levels in a country. In other words, aggregate supply is that the total value of all goods and services resulting from economic activity in a country.

In macroeconomics, aggregate supply will behave differently within the very short-run, the short-run, and therefore the long-run, as reflected within the elasticity of the curve. Macroeconomics studies the economy as an entire . This economics study specifically learns about the economy on an outsized scale and comprehensively.

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Operation management is directly or indirectly related to all the functions of management like operation management ask the HR for the candidate in the team. Information systems follow the statics and convey the trends in the market. Operation management is had to understand the sales and management.

Operations management is the practice of overseeing business processes to maximize productivity within an organization.

An organization's focus is on efficiently converting resources like labor and materials into products and services in order to increase profit.

Thus, the relation was written in above.

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If you can't take care of an email request right away, you should not respond at all until you can send a full and detailed response--- False

Electronic mail, also referred to as email or e-mail, may be a way for people to communicate with one another by the use of electronic devices. At a time when "mail" solely mentioned physical mail, email was therefore developed because the electronic (digital) equivalent of, or counterpart to, mail (hence the prefix e- + mail). An email address is now frequently seen as a fundamental and essential component of the many activities in business, trade, government, education, entertainment, and other areas of lifestyle in most nations. Email later became a ubiquitous channel .If you cannot take care of an email request right away, you ought to not respond at all until you can send a full and detailed response.

This statement is fake instead If you can't take care of an email request right away, you ought to definitely respond.

What do you have to do when you cannot respond to a request made in an email?

sign off the system so the sender will assume that you are offline. founded an automated response to say that you are out of town. Inform the sender that you simply are busy and cannot reply straightaway.

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A $135 petty cash fund has cash of $28 and receipts of $110. the journal entry to replenish the account would include a Credit to cash over and Short of $3.

Cash Over and Short Account is a record in the general ledger. The record stores the sum by which the genuine completion cash balance varies from the outset book equilibrium of money available, give or take any recorded money exchanges during the period.

A firm ought to note occasions of money fluctuations in a solitary, effectively open record. This cash over-account ought to be named a pay proclamation account, not a business ledger because the recorded mistakes can increment or diminish an organization's benefits on its pay explanation.

A Petty Cash Fund is a limited quantity of organization cash, frequently kept closed, to pay for minor or coincidental costs, for example, office supplies or representative repayments.

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The return on equity is 9.528%.

Return on equity (ROE) is the measure of a company's internet profits divided by way of its shareholders' equity.

ROE is a gauge of a corporation's profitability and how efficaciously it generates these profits

The higher a company's ROE percentage, the better.

A greater share shows a company is more superb at producing earnings from its current assets.

Likewise, a agency that sees increases in its ROE over time is probable getting extra efficient.

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Utility costs that relate to current year's operations but are not paid until the following year require:

Expenses are meant to be paid within the accounting period that they occur and if this does not happen, then they are to be treated as current liabilities in the Balance sheet.

This means that the Utilities Expense account will be debited as is the norm but the account that will then be credited is the Utilities Payable account which is a current liability.

Options for this question:

(Select all that apply.)

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False - The production possibilities frontier are reachable while utilizing all resources to the fullest extent possible.

What Is the Production Possibility Frontier (PPF)?

The Production Possibility Frontier (PPF) is a curve on a graph that illustrates the viable portions that may be produced of merchandise if each rely on the equal finite useful resource for his or her manufacture. The PPF is likewise called the manufacturing opportunity curve.

PPF additionally performs a essential function in economics. For example, it could display that a nation`s economic system has reached the best degree of performance viable. The PPF is the region on a graph representing manufacturing stages that can not be received given the to be had resources; the curve represents surest stages.

As sources are taken from one product and allotted to the other, some other factor may be plotted at the curve. When you plot the factors wherein greater of X can be produced via way of means of taking sources from Y or vice versa, a curve is generated representing the most quantity of every product that may be produced as sources are reallocated.

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You have the impression that the employees' attitudes toward their jobs may be negatively impacted by Julio's departure.

The first paragraph of your acceptance letter should inform the employee that you have received and accepted their letter of resignation. Think about doing a thorough, anonymous survey. no matter if they are primarily tactical, operational, or strategic. Current can be evaluated using this grouping. Groups must come up with potential answers to their challenge before they can decide. Also keep in mind that certain issues and judgments are difficult because you lack the appropriate information or expertise, in which case you should first.

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A mechanism for multichannel distribution uses a single firm to set up two or more marketing channels to reach one or more customer segments.

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All of the following accounts have normal debit balances except for: capital

How do we classify transactions?

Ordinarily, expenses and assets would have a debit balance because an increase in assets or expense is to be debited, hence, expenses, cash , which is an asset as well as accounts receivable, would  have a normal debit balance.

In other words, capital would have a normal credit balance because an increase in capital, liabilities as well as income are credited based on the double entry principle.

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when employees pay more attention to rules and regulations than the objectives and services of a business this is known as "Ritualism"

What is Ritualism?

The strain theory of Robert Merton is the foundation of ritualism. He asserts that social tension results from an unequal distribution of resources among society's members in order to uphold cultural norms and objectives. Merton provided five responses that people use to adapt to the structure of the society, including conformity (which is to accept the cultural goals and values and use institutionalized means to achieve them), innovation, and alternative means of achieving goals when one lacks the resources to do so (this is to accept the cultural goals and values however no using the institutionalized means to achieve them),

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$36578.14  would be invested today at Compounded annually to have $55,000 available for the purchase of a car at the end of seven years from now

A purchase made only with the intention of creating capital or earnings growth is known as an investment. A person can invest any amount of data that he or she has.

The data that is given in the question is:

The amount = $55,000

Time period = 7 years

rate of return = 6%

The present value of the investment:

Present value = future value / (1+rate of return) x number of years

Putting the value in the above-given formula

Here present value= $55000 / (1+6%) x 7

=$36578.14

The person needs to invest $36578.14.

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Option C. The type of retirement plan that the individual would have to make the maximum contribution is the sep ira.

This is the term that is sued to refer to the plan that is done in such a way that it has to help a person to take care of their post retirement. This is done through the saving of money in such a way that it would help to take care of the periods that they have become old and no longer working.

Hence the SEP IRA is also called the simplified  employee pension plan. Therefore  the type of retirement plan that the individual would have to make the maximum contribution is the sep ira.

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The value-based purchasing strategy for Medicare keeps track of whether data are submitted in the right format and on schedule. Pay for reporting exists

Your company's purchasing plan outlines your purchasing practices. By eliminating inefficiencies, creating approval workflows, and creating a tactical purchase plan to achieve desired goals, it aims to optimize cost reductions while also reducing the bottom line.

What is the strategic purpose of buying?

In the supply chain management process, the purchasing function is strategically essential. It addresses how the delivery end of the suppliers interacts with the sourcing end of supply chain management.

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Under Perfect competition, the market consists of many buyers and sellers trading in a uniform commodity.

Perfect competition , market consist of many buyers and sellers trading in a  uniform commodity.

Under perfect competition , homogeneous product is sold and firm is the price taker. Forces of demand and supply fix the price.

There are different types of market in the economy such as perfect competition, monopoly, monopolistic competition, oligopoly.

Every market has different feature from each other.

Companies earn normal profit in the perfect competition because there is free entry and exit of the firms.

It does not need heavy investment to start.

Buyers have perfect knowledge so firms cannot charge higher price.

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Economic resources are referred to as factors of production because they are employed in the production of products and services.

The resources that make up the economy's foundation and that people employ to produce commodities and services are known as the factors of production. Land, labor, capital, and entrepreneurship are the four groups into which economists divide the components of production.

What makes production elements so crucial?

The overall productivity potential of a given economy is comprised of the factors of production as a whole. Economists and decision-makers can assess an economy's potential, make predictions, and develop policies to increase productivity by being aware of their relative accessibility and availability.

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