what is one of the disadvantages higher-level executives face when overseeing an ethical climate of the organization? a.their negative relationships with employees b.their inability to control employees c.their tendency to be socially isolated from employees d.their inability to make all of the key organizational decisions e.their lack of power in the organization
Answers
One of the disadvantages the higher-level executives face when overseeing an ethical climate of the organization is 'their lack of power in the organization'.
What do you mean by organization?
Organization is the arrangement of parts or elements in a systematic way. It involves establishing relationships between those parts or elements to reach a desired outcome. Organization is important to ensure that tasks are completed efficiently and effectively.
Higher-level executives may not have the necessary authority to make meaningful changes to an organization's ethical climate. They may not have the power to directly enforce ethical policies or to dismiss those who violate them. They may not have the resources or the budget to invest in ethical initiatives or programs. They may not even be able to hire qualified individuals with the right values and ethics to lead the organization. As a result, they are unable to create a strong ethical climate and prevent unethical practices.
Hence, option E is correct.
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Related Questions
Cost-push inflation is caused by
increasing input prices. Which of the
following would NOT contribute to
increasing input prices?
A. expansionary monetary policy
B. a sharp decrease in the supply of oil
C. a sudden decrease in access to coal
Answers
ratification of a contract with a minor has to be expressly made only in written form. group startstrue or falsetrue, unselectedfalse, unselected
Answers
False. Ratification of a contract with a minor does not have to be made only in written form.
In general, contracts with minors (persons under the age of 18 in most jurisdictions) are considered voidable, meaning that they may be legally enforceable, but they can also be cancelled or rescinded by the minor. This is because minors are not considered to have the capacity to enter into legally binding agreements. However, in some cases, a contract with a minor may be ratified after the minor reaches the age of majority. Ratification is the act of confirming and accepting a contract that was initially entered into without the necessary capacity. In this sense, ratification gives the contract the same legal effect as if it had been entered into by an adult. The requirements for ratification of a contract with a minor vary from jurisdiction to jurisdiction. In some cases, ratification may be implied from the conduct of the parties, while in other cases it may need to be express and in writing. However, it is generally a good practice to have a written record of the contract to avoid disputes and to provide clear evidence of the terms and conditions of the agreement. In summary, while ratification of a contract with a minor does not have to be made only in written form, it is advisable to have a written record of the agreement to provide clear evidence of the terms and conditions and to avoid disputes in the future. The specific requirements for ratification of a contract with a minor may vary based on the jurisdiction and the type of contract involved.
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which of the following is not a type of qualitative forecasting?
Answers
The following that is not a type of qualitative forecasting is Moving Averages
Qualitative forecasting has to do with the use of feedback and other research data to make a prediction about how the finances of a company is likely to change in a period of time.
This qualitative research is done by making analysis of the amount of money gotten in the past by the company to estimate future financial operations.
There are four types of qualitative forecasting such as:
Executive OpinionsConsumer Surveys.Delphi MethodSales Force PollingTherefore, the correct answer is Moving Averages.
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I am confused here. Help me, tomorrow is my exam. Is tailoring a secondary activity or tertiary? Bcoz a tailor also makes suits etc and also fixes them. For example if my coat has a cut, the tailor will repair it.
Answers
Hello student
Answer:
Tailor is tertiary activity of economy
Explanation:
because it makes service not manufacturing goods and items.
Which represents the greatest acceleration?
200 m/s
200 cm/s2
0.020 km/s2
0.002 km/s2
Answers
Answer:
(3) 0.020km/s²
Explanation:
The option with greatest acceleration is the one with greatest magnitude.
To do this, we have to analyse each if the given options.
1. 200m/s.
This doesn't represent acceleration because acceleration is not measured in m/s. Rather, this option is a measure of velocity..
2. 200 cm/s²
[Convert to m/s²]
= 200 / 100 m/s²
= 2 m/s²
3. 0.020 km/s²
[Convert to m/s²]
= 0.020 * 1000m/s²
= 20m/s²
4. 0.002 km/s²
[Convert to m/s²]
= 0.002 * 1000 m/s²
= 2m/s²
By comparison options 1 through 4, option (3) has the highest magnitude of acceleration.
Hence, 0.020km/s² is the highest acceleration
equity shareholders are called what
Answers
Answer:
owners
Explanation:
Shareholders' equity represents the amount invested by the owners of a company in the business by either retaining earnings over time or by investing money in it. The shareholders' equity is a form of a company's net assets. Equity shareholders are also known as Equity Stockholders.
The equity shareholders of a company are called its owners.
Listeners offer prompts to their speaker by _____.
Answers
Answer:
In any duel between a speaker and listener, it's always easy to fault the other person and it will begin with you. You can set the proper tone. Remember to take notes if you can.
Explanation:
Listen to what I'm saying and you will be good at it.
Answer:
Asking, “What happened then?”
Explanation:
The owner of a small fleet of taxicabs had his cabs serviced by a national chain of auto service centers. One of his cabs went through a stop sign when its brakes failed without warning. The ensuing collision seriously injured the passenger. An investigation revealed that brake repairs had been made on the cab a week before, but the service center's mechanic had used the wrong parts and had made numerous errors in reassembling the brakes. If the passenger sues the cab company owner for her injuries, who should prevail
Answers
Answer:
if you are asking who should prevail in this scenario, its most likely the mechanics.
Explanation:
first off, its the fleet owner who has taken the cabs to that certain mechanic,
therefore he is responsible for the first move, but on the other hand, the mechanics shouldnt be working on cars like taxicabs in the first place with out a license if they DIDNT have one in this case. if they didnt then they would be the ones most likely to lose the case. and another reason, the mechanics knew what theyre doing but never hesitated on switching plans for other brake parts. so in this case, its the mechanics who should prevail.
A good business meets ________ needs.
please help me
A) specialized
B) future
C)identified
D)likely
Answers
Answer:
b specialized
Explanation:
it the one that makes the most sense
i'm pretty sure it's likely !
22. Bright Light Innovations: The Starlight Stove* The top management team of Bright Light Innovations is preparing to meet and review its market situation. The team is a combination of students and faculty from Colorado State Univer- sity's (CSU) Colleges of Business and Engineering: Dr. Bryan Wilson, Paul Hudnut, Ajay Jha, Sachin Joshi, Katie Lucchesi, Dan Mastbergen, Ryan Palmer, and Chaun Sims. They are excited about the Starlight Stove product they have developed -and passionate about the opportunity that it provides to improve the quality of life for some of the world's poorest people. They know they have a great technology, but they need a marketing plan to bring this product to market. Every day, more than 2.4 billion people-more than one-third of the world's population—burn solid biomass fuel (wood, charcoal, dung, and coal) for cooking and heating. These fuel sources are usually burned indoors in open pits or tradi- tional cook stoves. About two-thirds of the people using biomass fuel also have no electricity, so the open fires often burn into the night to provide light. These fires create indoor air pollution, which is a leading contributor to respiratory diseases. UN Secretary General Kofi Annan has called for greater energy efficiency and noted that "indoor air pollution has become one of the top 10 causes of mortality and premature death." It is estimated that this source of pollution contrib- utes each year to the deaths of 1 million children younger than the age of 5, and it is a leading cause of miscarriage and women's health problems. Hoping to address these consumers' needs for safe cooking and electricity, CSU's Engines and Energy Conversion Laboratory developed the Starlight Stove. The Starlight Stove's improved technology requires 50 to 70 percent less biomass fuel than traditional stoves. It also has a ther- moelectric generator that converts heat from the stove into electricity that can power a small lightbulb or be stored in a rechargeable battery for later use. The technology has been refined, and the team believes it is ready to go to market. There are other competing enclosed cookstoves, none produce electricity. Solar panels can pro- vide electricity, but they are expensive-costing $360 each. Micro-hydropower allows households to convert the power from streams and rivers into electricity, but homes must be close to a river, and water flow in many areas of the country is seasonal. These technologies—solar panels and hydropower—are understood by many consumers and are already in use in some areas. The Starlight Stove, on the other hand, offers a new technology, and that may slow its adoption. The management team decided on Nepal as the initial target market for the Starlight Stove. Several factors made this market particularly attractive. The climate is relatively cold, and only 11 percent of the households have access to elec- tricity, so the heat and electricity production of the stove are particularly beneficial. Eighty-eight percent of the population uses firewood as their main source of energy. In addition, deforestation creates environmental problems in Nepal because it contributes to erosion and flooding. So the social benefits of the Starlight Stove will be partic- ularly appealing to the Nepalese government and aid organizations. There are approximately 9.2 million house- holds in Nepal, but the gross national income per capita is only about $400, with most adults mak- ing between $1 and $3 per day. Nepal is largely rural, with only 17 percent of the population living in urban areas. The country is divided into 75 districts. Each district is further divided into about 60 village development committees (a sort of local government) consisting of about 450 households. The similar characteristics of north- ern India—immediately south of Nepal—make it a logical follow-up market. The Starlight Stove offers several benefits to this population. For example, the longer hours with light—thanks to the electricity—and less time required to collect wood or other fuel could allow families to earn money by weaving, farming, or producing other crafts. Family pro- ductivity could increase 20 percent or more per day. Or the added hours with light might allow children to gain an education. If the product were manufactured locally, it could provide jobs for the population and help them learn the benefits of technology With obvious benefits for such a large number of people, the Bright Light Innovations team could look to donations to subsidize the Starlight Stove for the Nepalese people. But the team has concerns about this traditional form of aid. Financing in the form of grants, government relief, or donations is unreliable. If it is not Page 633 renewed, projects wallow or die. Further, grants often fail to teach disadvantaged
Answers
Bright Light Innovations has developed the Starlight Stove, a product that could significantly improve the quality of life for some of the world's poorest people.
The stove is designed to burn solid biomass fuel more efficiently than traditional stoves, producing 50-70% less pollution. Additionally, the stove has a thermoelectric generator that can convert heat from the stove into electricity, which can power a small lightbulb or be stored in a rechargeable battery for later use. The team at Bright Light Innovations is excited about the potential of the product, but recognizes the need for a strong marketing plan to bring it to market.
The initial target market for the Starlight Stove is Nepal, where the benefits of the product are particularly appealing due to the climate and lack of access to electricity for many households. The stove could provide longer hours of light and less time spent collecting fuel, allowing families to increase productivity or children to gain an education. However, the team is concerned about relying on traditional forms of aid to subsidize the product. Grants and donations can be unreliable and fail to teach disadvantaged communities the benefits of technology.
Overall, the team at Bright Light Innovations has a strong technology that could have a significant impact on the lives of millions of people. However, the challenge will be developing a marketing strategy that effectively communicates the benefits of the product and reaches the target market. Additionally, the team will need to consider alternative financing options beyond traditional aid to ensure the long-term sustainability of the project.
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United Supply has a $20 million liability at December 31, 2021, of which $4 million is payable in each of the next five years. United Supply reports the liability in the balance sheet as a:
Answers
suppose french government imposes a quota on international trade of cars. it means it will:group of answer choicesprohibit import of cars altogether;prohibit export of cars altogetherrestrict the quantity of cars france may export;restrict the quantity of cars france may import;
Answers
The French government's imposition of a quota on the international trade of cars would restrict the number of cars France may import. This means that there would be a limit on the number of cars that can be imported into the country from foreign markets.
A quota is a trade restriction imposed by a government to limit the quantity of goods that can be imported or exported. In this case, the French government is implementing a quota specifically on the import of cars. By setting a restriction on the number of cars that can be imported, the government aims to control and limit the inflow of foreign cars into the domestic market. This measure can serve various purposes, such as protecting domestic car manufacturers, promoting local industries, or managing trade imbalances. By limiting the number of imported cars, the government can influence the supply and demand dynamics in the domestic market, potentially supporting domestic car producers and ensuring the stability of the local automotive industry.
It's important to note that a quota specifically targets imports and does not necessarily restrict the export of cars from France. The focus is on controlling the inflow of foreign cars into the country while allowing domestic manufacturers to compete in the market.
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pooler corporation is working on its direct labor budget for the next two months. each unit of output requires 0.60 direct labor-hours. the direct labor rate is $9.00 per direct labor-hour. the production budget calls for producing 6,800 units in april and 6,600 units in may. if the direct labor work force is fully adjusted to the total direct labor-hours needed each month, what would be the total combined direct labor cost for the two months?
Answers
The total direct labor cost for the two months, given the production budget, and the output per labor hour, is $72, 360
How to find the total direct labor cost?The total units to be produced in April and May are:
= 6, 800 + 6, 600
= 13, 400 units
Each unit needs 0.60 direct labor hours so the total units would need:
= 13, 400 x 0.60
= 8, 040 hours
Cost per labor hour is $9.00 so the total direct labor costs is:
= 8, 040 x 9.00
= $72, 360
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an offer that can only be accepted by an offere's performance creates a(n) __________________________ contract
Answers
Answer: unilateral contract
Explanation:
An unilateral contract is a contact that is formed when an individual offers to do a particular thing in return for either money or something else that was agreed on.
Once such individual does that thing, he or she has to be given what was agreed on in the contract. A typical example is the contact regarding an insurance policy.
Therefore, an offer that can only be accepted by an offere's performance will create a unilateral contact.
Justin, age 66, paid $6,000 in qualified medical expenses in 2022 and took an $8,000 hsa distribution during the year. What tax penalty will apply with respect to the excess distribution?.
Answers
Given that he is older than 65, Justin is exempt from paying the tax penalty on the difference of ($8,000 - $6,000) = $2,000.
How is the tax penalty determined?Each month or portion of a month that the tax debt is unpaid results in a 0.5% failure to pay penalty added to the outstanding taxes. 25% of the taxpayer's outstanding taxes cannot be penalized in total.
How can I avoid a tax penalty?If your submitted tax return indicates that you owe less than $1,000, you may be exempt from the Underpayment of Estimated Tax by Individuals Penalty. You paid a minimum of 90% of the tax reported on the return for the tax year or 100% of the tax showed on the return for the previous year, whichever was less.
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A network externality is the effect that an additional user of a good or participant in an activity has on the value of that good or activity for others. a direct effect on an economic decision maker. an indirect effect on an economic decision maker. an uncompensated effect on someone other than the person who caused it.
Answers
Answer:
I don’t know
Explanation:
I don’t know
Neal is a coffee drinker. At the local coffee shop, the price of a cup of coffee is $3. Neal’s total benefits from drinking coffee are indicated in the accompanying table. Use this information to calculate neal’s marginal benefit of consuming each cup of coffee.
Quantity of coffee Total benefits
1 $8
2 $14
3 $18
4 $20
5 $21
Answers
Marginal benefit of 2 cups of coffee is $6
Marginal benefit of 3 cups of coffee is $4
Marginal benefit of 4 cups of coffee is $2
Marginal benefit of 5 cups of coffee is $1
Marginal benefit is the change in benefit a consumer derives from a good or service as a result of consuming an extra unit of the product.
Marginal benefit = change in total benefit / change in quantity consumed
Marginal benefit of 2 cups of coffee = ($14 - $8) ÷ (2 - 1) = $6
Marginal benefit of 3 cups of coffee = (18 - $14) ÷ (3 - 2) = $4
Marginal benefit of 4 cups of coffee = ($20 - $18) ÷ (4 - 3) = $2
Marginal benefit of 5 cups of coffee = ($21 - $20) ÷ (5 - 4) = $1
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Which of the following countries did not trade with the Phoenicians?
O Babylonia
Japan
O Egypt
Greece
Answers
Japan
An investment company where workers follow a strict schedule is an example of a(n) _____. a. informal workplace b. unstructured workplace c. casual workplace d. formal workplace
Answers
Answer:
d. formal workplace
Explanation:
A formal workplace has a structured way of doing things. Both the management and employees dress in the prescribed attire. There is a lot of emphasis on rules and procedures in the work processes. Information and work instruction follow established communication channels within the business. Hierarchy and protocols are observed when making official reports.
Answer:
D)
Explanation:
When will ROE equal ROC ? A, Whenever the firm has no interest payments on debt
B. Whenever the firm has equal debt and equity financing
C. Whenever the value of the firm’s assets exceeds the value of its equity
D. ROE will never equal ROC
Answers
ROE and ROC will be equal whenever the firm has no interest payments on debt
Investors and institutions utilise the well-known and dependable measures ROC and ROE to choose amongst various investment possibilities. An organization's profit in relation to stockholders' equity is gauged by its return on equity (ROE). Return on capital (ROC) assesses the same things as equity but additionally takes debt financing into account. Most analysts go to gain on equity after discussing profits per share is complete. For publicly traded corporations, it is typically had said equities represents the money left here on balance sheet that after liabilities are paid. All things being equal, the majority of seasoned investors would pick a company with greater ROE and ROC over a business with lower ratios. Since they hold stock, shareholders will be more interested in ROE.
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What is the best way to respond to a customer complaint? A. Listen to the customer, B. Overcompensate C. Ignore the customer. D. Respond aggressively.
Answers
Answer:
a
Explanation:
u should never let the customer know that they are wrong
The best way to respond to a customer complaint is listen to the customer. It comes under the consumer protection management. The correct option is (A).
What do you mean by Customer Complain?Customer complaints relate to when a firm does not deliver on its commitment and does not satisfy customer expectations in terms of the product or services. Every business's customers are its most important component.
Customer complaints provide your team the chance to engage in open dialogue with your clients.
These exchanges might make your clients feel like they are essential to your success.
Customer complaints give you important information about how well-trained your front-line staff is and how to make improvements.
Therefore, the best way to respond to a customer complaint is listen to the customer. It comes under the consumer protection management.
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what are the characteristics of a high-performance work system approach to hrm? (choose every correct answer.)
Answers
The characteristics of a high-performance work system approach to HRM are A, C and D:
Focuses on collective levels of human and social capitalEnhances the performance of all employees systematicallyImproves employee motivation and opportunitiesHigh work performance system: what is it?A high-performance work system is a collection of HRM techniques intended to advance employees' abilities, motivation, and engagement in order to give a company a long-term competitive advantage.
Note that Increased employee commitment leads to improved organizational performance because high performance work systems have an impact on and align employees' attitudes and behaviors with the organization's strategic goals (Schuler and Jackson, 1987).
An example of High Performance Work System Practices (HPWS) are:
Ensuring Employee Security, Strict Selection, Decentralized Decision-Making, High Results-Based Compensation, Training by Commitment, Abolishing Status Barriers, Sharing Key Information.Learn more about high-performance work from
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See options below
Focuses on collective levels of human and social capital
Be good to all
Enhances the performance of all employees systematically
Improves employee motivation and opportunities
Financial instruments Financial instruments are assets that have a monetary value or record a monetary transaction. To coordinate the exchange of capital between borrowers and lenders, financial instruments trade in the financial markets. These financial instruments can be categorized on the basis of their issuers, maturity, risk, and other factors. Identify the financial instruments based on the following descriptions. Description Financial Instrument Backed by the U.S. government, these financial instruments are short-term debt obligations with a maturity of less than one year. They are considered risk free Investments. Issued by corporations, these unsecured debt instruments are used to fund corporate short-term financing requirements. If issued by a financially strong company, they have less risk These financial instruments are investment pools that buy such short-term debt instruments as Treasury bills (T-bills), certificates of deposit (CDs), and commercial paper. They can be easily liquidated.Issued by corporations, these financial instruments fund their long-term financing requirements and have less risk than equity securities. Which of the following instruments are traded in the capital markets? A. Certificates of deposit.B. Common stocks.C. Treasury bills.D. Preferred stocks.E. Corporate bonds. The process in which derivatives are used to reduce risk exposure is called:_______.
Answers
Answer:
1. Identification of financial instruments:
Treasury Bills: Backed by the U.S. government, these financial instruments are short-term debt obligations with a maturity of less than one year. They are considered risk free Investments.
Commercial Papers: Issued by corporations, these unsecured debt instruments are used to fund corporate short-term financing requirements. If issued by a financially strong company, they have less risk.
Money Market Instruments: These financial instruments are investment pools that buy such short-term debt instruments as Treasury bills (T-bills), certificates of deposit (CDs), and commercial paper. They can be easily liquidated.
Corporate Bonds: Issued by corporations, these financial instruments fund their long-term financing requirements and have less risk than equity securities.
2. Instruments traded in the capital markets are:
B. Common stocks
D. Preferred stocks
E. Corporate bonds.
3. The process in which derivatives are used to reduce risk exposure is called:
Hedging
Explanation:
Financial instruments can be stocks, bonds, commercial papers, or treasury bills. Some financial instruments are capital market instruments (e.g. stocks and bonds), while others are money market instruments (e.g. commercial papers and treasury bills).
When the value of a contract depends on an underlying financial asset, it is called a derivative. Examples of underlying instruments are bonds, commodities, currencies, interest rates, market indexes, and stocks.
Consider a production model with labor and capital inputs. There are constant returns to scale overall. If MPK > r >0 and MPL > w >0, the firm:
a) should hire less labor
b) should hire more capital until MPK= 0
c) should get rid of some capital until MPK=r
d) should hire more capital until MPK=r
e) has the optimal amount of labor.
Answers
The firm should hire more capital until MPK=r. (D)
In a production model with labor and capital inputs and constant returns to scale, the firm aims to maximize profits by equating the marginal product of each input to its respective cost. In this case, MPK (marginal product of capital) is greater than r (cost of capital), and MPL (marginal product of labor) is greater than w (cost of labor).
This implies that by investing more in capital, the firm can increase its profits as the additional output produced will outweigh the additional cost of capital. The firm should continue hiring more capital until MPK equals r, at which point profits are maximized, and there are no more gains from increasing capital input.(D)
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here is 20 points cause you earned it king/queen
Answers
Because susans standard deduction is greater than the amount she made, it turns out that Susan never owed taxes. How large of a refund should she expect from the Federal
government if she follows through on filing her 1040 form
Answers
Note that if Susan's standard deduction is greater than the amount she made, it means her taxable income is zero. If she had any taxes withheld from her paychecks throughout the year, she would be eligible for a full refund of those taxes.
What is the rationale for the above response?Assuming Susan is a single taxpayer under the age of 65 and not claimed as a dependent on anyone else's tax return, her standard deduction for tax year 2022 (filing in 2023) would be $12,950.
If Susan's total income for the year is less than or equal to $12,950, she would owe no federal income tax and would be eligible for a full refund of any federal income tax withheld from her paychecks or estimated tax payments she made throughout the year.
The exact amount of her refund would depend on how much federal income tax was withheld from her paychecks or paid in estimated tax payments throughout the year. Susan can determine the amount of her refund by completing her tax return using Form 1040 and any other applicable forms and schedules.
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List the sourcesvof obtaining inform related to foriegn employment ..
Answers
Answer:
not having any idea.........
Explanation:
⚘ Correction :List the sources of obtaining information related to foreign employment.⚘ Answer :Different sources of information are available for foreign employment. The institutions and individuals involved in foreign employment - related work and their web sites and training institutions and their publications provide information on foreign employment. Some of the sources of obtaining information related to foreign employment are mentioned below with description :
✎ Noticeboards : Manpower companies put vacancy announcement notice on the noticeboards as demanded by foreign employers. The following details are included in the demand paper and the same are stated in the notice.
Name of a countryName of companyNumber of vacancyMinimum qualificationMonthly salaryContract periodFacilitiesRequired skills✎ Booklets : Information can be obtained from booklets published by concerned authorities and institutions. Required skills , qualification , training , ability , post etc. are published in the booklets.
✎ Institutions or individuals involved in foreign employment : Foreign employment may directly contact the government offices to demand required workers. Therefore , we can contact such offices to obtain information.
✎ Publication of training institutions : Publications of training institutions , which provide employment - oriented training can be reliable sources of information for foreign employment.
✎ Web sites : Web sites of employers are reliable sources of information for foreign employment. Interested candidates can apply for the job through the Internet or web sites. Physical contact is not necessary for selection procedures.
✎ Newspapers and magazines : Newspapers are very popular means of communication. They are published daily , weekly , fortnightly and monthly basis. Notices on foreign employment are published in such newspapers and magazines. Clear details are included in the notices .
✎ Radio , F.M and Television : Radio , F.M and television disseminate information immediately to public. These are very popular and important means of communication. They broadcast different entertaining programmes , news , information etc. They also broadcast information on foreign employment.
✎ Public relation : Public relation is another source of information on foreign employment. We can obtain information through individuals , symposiums , meetings , interaction programmes etc.
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compare the threw basic economic system in terms of the economic oppturinites avaibke to businness
Answers
Answer:
hmmmm
Explanation:
A penalty for early withdrawal of savings may be reported to
taxpayer on
A. Form 1099-IOD
B. Form 1099 MISC
C. 1099-DIV
D. Form 1098
Answers
A penalty for early withdrawal of savings may be reported to the taxpayer on: D. Form 1098
Form 1098 is used to report various types of payments, including mortgage interest, student loan interest, and early withdrawal penalties. In the case of a penalty for early withdrawal of savings, the financial institution may provide the taxpayer with Form 1098 to report the penalty amount. This form is used to report certain types of income and payments to the IRS and the taxpayer.
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for illustration purposes, utility can be measured in terms of imaginary units called
Answers
"utils". The concept of utils is used in economics to measure the amount of satisfaction or happiness that a consumer derives from consuming a particular good or service.
While utils are not a tangible unit of measurement, they are a useful tool for economists to understand and quantify consumer preferences. By measuring the amount of utils that a consumer derives from a particular good or service, economists can analyze the trade-offs that consumers make when allocating their limited resources, such as time and money. This information can be used to develop more effective marketing strategies and to make better policy decisions that affect consumer behavior.
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