what is the effect on the stock price of a company that announces it earned higher-than-expected quarterly profits?
Answers
When a company announces it earned higher-than-expected quarterly profits, the effect depends on what generated the profits and how analysts forecast this information.
What is a profits?Basically, a profit refers to the benefit realized when the amount of revenue gained from an activity exceeds the expenses, costs, and taxes needed to sustain the activity.
In most business, the declared profits are funnel back to business owners who choose to either pocket the cash, distribute it to shareholders as dividends or as well reinvest it back into the business as a retained earnings.
In conclusion, if a company announces it earned higher-than-expected quarterly profits, the effect depends on what generated the profits and how analysts forecast this information.
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Related Questions
A down payment is usually what percentage of the asking price of a home?
Answers
Answer:
In most cases, you need a down payment of at least 3 percent of your target home price. Many loan types and lenders require 5 percent down or more. You can often save money if you put down at least 10 percent of the home price, and you'll save the most if you put down at least 20 percent.
Explanation:
i hopes this helps you
Answer:
5-20
Explanation:
I am built different
2. why must accounting reports be prepared in according to specific procedures such as gaap? would it be a good idea to allow business some flexibility or creativity in preparing financial statements?
Answers
Accounting reports must be prepared in accordance with specific procedures such as GAAP (Generally Accepted Accounting Principles) in order to ensure that the information presented is accurate, consistent, and reliable.
This allows for the comparison of financial statements across different companies and industries, which is crucial for investors and other stakeholders in making informed decisions. While it may seem like a good idea to allow businesses some flexibility or creativity in preparing financial statements, this could lead to misleading or inaccurate information being presented.
Without specific procedures and guidelines, it would be difficult to compare financial statements and make informed decisions. Therefore, it is important for accounting reports to be prepared in accordance with specific procedures such as GAAP to ensure accuracy and consistency.
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what is the ftc recommendation regarding choice as it relates to personally identifiable information (pii)? group of answer choices require robust notice only before pii is collected. require firms to allow consumers to opt-out before pii is collected. make collection of pii illegal. require firms to have consumers affirmatively opt-in before pii is collected.
Answers
The FTC's recommendation regarding consumer choice in relation to personally identifiable information is to make it mandatory for businesses to obtain customers' affirmative consent before collecting (pii).
How are personally identifiable (PII) data protected?Store delicate personal data safely when not in use in a closed desk drawer, filing cabinet, or other secure container. When using sensitive PII, make sure to keep it in a secure location that is only accessible to those with a need to know. At all costs, sensitive PII must never be faxed.
Personal identity numbers include things like Social Security Numbers (SSN), Passport Numbers, Driver's License Numbers, Taxpayer Identity Numbers, Patient Identification Numbers, Financial Account Numbers, or Credit Card Numbers. For a personal address, provide a street address or email address. personal interaction
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southwest airlines began its no frills, no meals strategy in the late 1960s as a direct assault on the major carriers of the day. what type of competitive action does this represent? group of answer choices a strategic action because it includes a refinement of an existing strategy. a tactical action because it is a refinement of an existing strategy. a strategic action because it was a breakthrough innovative offer. a guerilla offensive because will surprise its rivals.
Answers
Southwest Airlines' no frills, no meals strategy in the late 1960s represents a strategic action because it involved a refinement of an existing strategy.
The no meals strategy in the late 1960s represents a strategic action because it involved a refinement of an existing strategy. The major carriers at the time were focused on providing luxurious amenities to attract customers, which resulted in high prices.
Southwest Airlines recognized this gap in the market and strategically positioned itself as a low-cost alternative, which would attract budget-conscious customers who were not interested in the added luxuries.
By refining their existing strategy to remove the frills and meals, Southwest Airlines was able to drastically reduce its costs and offer lower fares, making it an attractive option for customers who wanted to save money. This strategic action enabled Southwest Airlines to differentiate itself from the major carriers and gain a competitive advantage in the market.
While the no-frills strategy may seem like a tactical action, it was actually a strategic move because it was a deliberate decision that involved a significant change in the company's business model.
It required a rethinking of how Southwest Airlines would operate and market itself, which ultimately paved the way for its success in the industry. Therefore, the no-frills, no-meals strategy was a strategic action that enabled Southwest Airlines to challenge and disrupt the traditional business models of major carriers.
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Select the four factors required for marketing to occur.
a. a desire to turn a need into a want
b. a way for the parties to communicate
c. two or more parties with unsatisfied needs
d. something for the parties to exchange
e. a desire for the parties to have their needs satisfied
f. a universal form of payment
Answers
The four factors necessary for marketing to occur are a desire to turn a need into a want, a way for the parties to communicate, two or more parties with unsatisfied needs, and something for the parties to exchange.
Marketing planIt is a document where the marketing objectives that will make a company well positioned in the market are described. It must be aligned with the company's objectives and the needs of the target audience.
Therefore, the marketing objectives correspond primarily to creating value for the consumer, through the satisfaction of their needs and desires and a focused communication that generates engagement and relationship.
The correct answer is:
a. a desire to turn a need into a want
b. a way for the parties to communicate
c. two or more parties with unsatisfied needs
d. something for the parties to exchange
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Which of the following events would require an expense to be recorded (may have more than one answer)?
Check All That Apply
Ordering office supplies.
Paying employees' salaries for the current month.
Hiring a receptionist.
Paying for insurance in advance.
Receiving but not paying a current utility bill
Answers
The events that would require an expense to be recorded are: - Paying employees' salaries for the current month. - Paying for insurance in advance. - Receiving but not paying a current utility bill.
Expenses are recorded when there is a decrease in assets or an increase in liabilities, resulting from the consumption of goods or services or the occurrence of other events that generate costs. Paying employees' salaries for the current month is an expense because it involves the consumption of labor and the obligation to compensate employees. Paying for insurance in advance is also an expense because it represents the cost of acquiring insurance coverage for a specific period. Receiving a current utility bill, even if it hasn't been paid yet, triggers an expense as the consumption of utilities has occurred.
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Warren peace bookstore issues a note with no stated interest rate in exchange for a building. in accounting for the transaction:
Answers
Answer:
the options are missing, so I looked for them.
the options are:
The note is recorded at its face amount unless the fair value of the building is readily available. The building should be depreciated over the note’s term to maturity. Both the note and building are recorded at the fair value of the note or the fair value of the building, whichever is more clearly determinable. If fair values of the note and building are unavailable, the note should be recorded at its face amount.The correct answer is:
4. If fair values of the note and building are unavailable, the note should be recorded at its face amount.
Which investment strategy would work best if you wanted to grow your
investment slowly without losing much money?
O A. High risk, low return
O B. Low risk, high return
O ,
C. Low risk, low return
O D. High risk, high return
SUBMIT
Answers
Answer: C. Low risk, low return
Explanation:
Identify and explain what are the factors of productions
Answers
Explanation:
The factors of production are resources that are the building blocks of the economy; they are what people use to produce goods and services. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.
1.Capital
2.Entrepreneurship
3.Labour
4.Natural resources
Zainab is researching whether a Poisson process would be a suitable model for vehicle breakdowns on a busy motorway. For weekdays across one month, she collects data on the number of breakdowns each hour on the motorway, over a specific time period, between 10.00a.m. and 2.00 p.m. (a) With reference to one of the assumptions underlying a Poisson process, give a possible reason for why Zainab has restricted her study to vehicle breakdowns at a particular time of day. (b) Zainab enters her data into Minitab and calculates the following summary statistics for the number of breakdowns occurring each hour. Do the summary statistics support the Poisson process as a model for the data? Justify your answer. Statictirc (c) Based on the data collected, Zainab assumes that on average, two breakdowns occur per hour on the motorway. (i) Calculate the probability that there will be fewer than three breakdowns between 10.30 a.m. and 12.30 p.m. (ii) Calculate the probability that the interval between two successive breakdowns is less than 30 minutes.
Answers
(a) The reason why Zainab has restricted her study to vehicle breakdowns at a particular time of day is that a Poisson process assumes that the rate at which events occur should be constant over time. Therefore, Zainab has restricted her study to vehicle breakdowns between 10:00 a.m. and 2:00 p.m. to make sure the rate of breakdowns is relatively constant.
(b) The summary statistics do support the Poisson process as a model for the data. In a Poisson distribution, the variance should be equal to the mean. In the data provided, the mean is 2.08 and the variance is 2.11, which are very close. The histogram of the data also appears to be Poisson-like. Therefore, we can conclude that the data follows the Poisson distribution.
(c) (i) we need to use the Poisson distribution. The average rate of breakdowns per hour is 2. Therefore, the average rate is 4. The probability of having zero or one breakdown calculated as follows :P(X ≤ 2) = P(X = 0) + P(X = 1) + P(X = 2) where X ~ Poisson (4). Using a Poisson distribution table, we get;(X ≤ 2) = P(X = 0) + P(X = 1) + P(X = 2) = 0.018 + 0.073 + 0.147 = 0.238.(ii) we need to use the exponential distribution. Average time between two successive breakdowns = 60 minutes/2 breakdowns = 30 minutes Therefore, the rate parameter, λ = 1/30. This can be calculated as:P(X < 30) = 1 - e^(-λx) = 1 - e^(-1) = 0.6321 Therefore, the probability that the interval between two successive breakdowns is less than 30 minutes is 0.6321.
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Zainab has restricted her study to a particular time of day to assume that the rate of vehicle breakdowns remains constant during that time period, which is an underlying assumption of a Poisson process.
The probability of having fewer than three breakdowns between 10.30 a.m. and 12.30 p.m. is approximately 0.406 or 40.6%.
The probability that the interval between two successive breakdowns is less than 30 minutes is approximately 0.632 or 63.2%.
How to Solve the Problem?(a) One of the acceptances underlying a Poisson process is that the rate of occurrences occurring inside a given time pause is constant. By confining her study to a particular opportunity of day, between 10.00 a.m. and 2.00 p.m., Zainab is provided that the traffic conditions, driver performances, and other determinants that contribute to boat breakdowns remain almost constant all the while this time period. This presumption allows her to treat the dossier as a Poisson process.
(b) To determine if the summary enumerations support the Poisson process as a model for the data, we need to analyze if certain environments are met. The key conditions for a Poisson process are:
The occurrences occur alone.The average rate of events is perpetual over time.The expectation of more than individual event occurring in an infinitesimally insignificant interval is insignificant.If Zainab's data answer these conditions, it would support the Poisson process model.
(c) (i) To reckon the probability of less than three breakdowns between 10.30 a.m. and 12.30 period after 12 noon and before sunset, we can use the Poisson distribution. The average rate of breakdowns is given as two per time.
Let's denote the haphazard variable X as the number of breakdowns all the while this time ending. The parameter λ (lambda) shows the average rate of breakdowns, which is 2.
Using the Poisson distribution recipe, the probability maybe calculated in this manner:
P(X < 3) = P(X = 0) + P(X = 1) + P(X = 2)
P(X = k) = (e^(-λ) * λ^k) / k!
P(X < 3) = (e^(-2) * 2^0) / 0! + (e^(-2) * 2^1) / 1! + (e^(-2) * 2^2) / 2!
Calculating this expression, we find:
P(X < 3) = 0.406
Therefore, the expectation of having minor than three breakdowns between 10.30 a.m. and 12.30 p.m. is nearly 0.406 or 40.6%.
(ii) To calculate the expectation that the interval middle from two points two successive breakdowns is inferior 30 minutes, we need to feel the exponential distribution, that is often guide the interarrival times in a Poisson process.
In a Poisson process, the interarrival periods follow an rapid change distribution accompanying a rate parameter (λ) equal to the average rate of occurrences.
The average rate of breakdowns is given as two per period. Since the exponential disposal is defined in agreements of the rate parameter, we can reckon the probability as follows:
P(break < 30 minutes) = 1 - e^(-λt)
place t is the time in hours. In this case, t = 0.5 (30 proceedings is half an hour).
P(pause < 30 minutes) = 1 - e^(-2 * 0.5)
Calculating this verbalization, we find:
P(interval < 30 minutes) = 1 - e^(-1)
Using the rapid change distribution, this odds is approximately 0.632 or 63.2%.
Therefore, the feasibility that the interval betwixt two successive breakdowns is inferior 30 minutes is approximately 0.632 or 63.2%.
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Retail stores are often classified on the breadth and depth of their merchandise assortment. The depth of the merchandise is the variety of choices for each specific product. Merchandise depth may be classified as ________ or ________.
Answers
Retail stores are often classified on the breadth and depth of their merchandise assortment. The depth of the merchandise is the variety of choices for each specific product. Merchandise depth may be classified as either narrow or deep.
Shallow merchandise depth refers to a limited variety of choices for each specific product. For example, a retailer with shallow merchandise depth for women's shoes might carry only one or two styles in each size.
Deep merchandise depth, on the other hand, refers to a wide variety of choices for each specific product. For example, a retailer with deep merchandise depth for women's shoes might carry multiple styles in each size, as well as a range of colors and materials.
The depth of merchandise is often combined with merchandise breadth, which refers to the variety of different products carried by the retailer. Together, merchandise depth and breadth help to define a retailer's product assortment and can be important factors in attracting and retaining customers.
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the slope of the demand curve is not equal to the value of the price elasticity of demand.
Answers
True. The slope of the demand curve is not equal to the value of the price elasticity of demand is correct.
The slope of the demand curve describes the responsiveness of quantity demanded to changes in price, but is not equal to the price elasticity of demand value.
Price elasticity of demand measures the proportional change in quantity demanded to a change in price and is calculated using a specific formula. The slope of the demand curve is just one factor that can be used to estimate the price elasticity of demand, but it is not a direct measure of it.
The slope of the demand curve measures the rate of change in quantity demanded relative to a change in price. It is a graphical representation of the demand function, reflecting how much the quantity demanded changes as the price changes.
Price elasticity of demand, on the other hand, measures the responsiveness of quantity demanded to price changes, taking into account the rate of change of both price and quantity demanded.
It is a positive, negative, or zero numerical measure and is a way of quantifying consumer sensitivity to price changes.
Therefore, although the slope of the demand curve can be used to approximate the price elasticity of demand, the two concepts are not equivalent.
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many countries grant preferential tariff treatment to select countries to help those countries' economic development. for example, the united states grants preferential tariff treatment to:
Answers
The US grants preferential tariff treatment to Haiti and many sub-Saharan African nations.
What is preferential tariff treatment?
A lower rate of customs duty results from preferential tariff treatment. For goods that were first produced in a nation with whom the EU has a preferential tariff agreement, preferential tariff treatment is available.
If you receive preferential treatment, you will either pay a lower than typical customs tax rate or no customs charge at all for the items. For products transported from a nation with whom the EU has a preferential tariff agreement, preferential tariff treatment is available. Additionally, the products must be produced in the nation from where they are shipped in the outset. Read the terms for receiving special treatment for products depending on their country of origin. Please be aware that despite receiving special status for the items, value added tax is always due.
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many countries grant preferential tariff treatment to select countries to help those countries' economic development. for example, the united states grants preferential tariff treatment to:
Help me!
Give few examples of resources that are at the risk of depletion.
Answers
Answer:
There are several types of resource depletion, the most known being: Aquifer depletion, deforestation, mining for fossil fuels and minerals, pollution or contamination of resources, slash-and-burn agricultural practices, Soil erosion, and overconsumption, excessive or unnecessary use of resources.
Aquifer depletion, deforestation, mining for fossil fuels and minerals, pollution or contamination of resources, slash-and-burn farming methods, soil erosion, and overconsumption, excessive or unneeded use of resources are some of the more well-known examples of resource depletion.
What natural resources are at risk of depletion?Minerals, oil, water, and forests are the resources that are most at risk of being exhausted. The primary driver of deforestation is agriculture, and as food prices rise, more land is being destroyed for crops. Deforestation is a major cause of carbon dioxide emissions, which contribute to global warming.
As of now, there are more than 7 billion people living on Earth, which has resulted in a significant strain on the natural resources that our planet provides due to the ever-increasing demand for these resources. Resource depletion is the correct word to use when the pace of resource use exceeds the rate of resource replenishment. Resource depletion is not a particularly fancy or difficult phrase, but it has been the focus of much research for some time.
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Which primary management responsibility includes the process of creating budgets?
Answers
Planning is the primary management responsibility which includes the process of creating budgets.
Planning provides a framework for a businesses financial objectives typically for the next three to five years. Thus, budgeting details how the plan will be carried out month to month and covers items such as expenses, revenue, expenses, potential cash flow and debt reduction.
A budget helps create financial stability. So by tracking expenses and following a plan, a budget can make it easier to pay bills on time, build an emergency fund, and save for major expenses etc.
Hence, a budget planning puts a person on stronger financial footing for both the day-to-day and the long term.
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when your company is at fault and you must write a letter granting the customer’s claim,T/F
Answers
The statement 'when your company is at fault and you must write a letter granting the customer’s claim' is true as it is important to show that your company can take responsibility.
This is important to maintain a good relationship with the customer and show that your company takes responsibility for its mistakes. When your company is at fault and you must write a letter granting the customer's claim, it is important to provide reasoning.
1. Begin by acknowledging the issue and apologizing for the inconvenience caused to the customer.
2. Clearly state that your company accepts responsibility for the problem and that the customer's claim is granted.
3. Provide a detailed explanation of the issue, how it occurred, and any steps taken to prevent it from happening again in the future.
4. Explain the resolution or compensation being offered to the customer to rectify the situation.
5. End the letter by expressing your company's commitment to providing quality products/services and ensuring customer satisfaction.
By providing reasoning in the letter, you demonstrate transparency and a willingness to address the issue, which helps to maintain a positive relationship with the customer.
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There are two reading assignments here. I encourage you to read Has Business Left Milton Friedman Behind and then skim/read the Friedman doctrine. Do a little more background research/reading if you find neccessary. Once base knowledge is established create a thesis based on these two articles. I want a short, one page (three at most) statement regarding your view of Milton Friedman and his beliefs that have dominated corporate philosophy/governance for the last 40 years.
Answers
3. Which of the following is NOT an example of a violation of professional ethics?
Answers
Coming to a school activity after participating in happy hour with colleagues is not an example of a violation of professional ethics.
What is professional ethics?Professional ethics encompass the personal and corporate standards of behaviour expected of professionals. The word professionalism originally applied to vows of a religious order. By no later than the year 1675, the term had seen secular application and was applied to the three learned professions, they are divinity, law, and medicine. The term professionalism was also used for the military profession around this same time.
Professionals and those working in acknowledged professions exercise specialist knowledge and skill. The use of this knowledge should be governed when providing a service to the public can be considered a moral issue and is termed professional ethics. It is capable of making judgments, applying its skills, and reaching informed decisions in situations that the general public cannot because they have not attained the necessary knowledge and skills.
One of the earliest examples of professional ethics is the Hippocratic oath to which medical doctors still adhere to this day.
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In a bad economical crisis what are ways to overcome
Answers
Answer:
figure out different ways to invest and save your money maybe buy cheaper but good quality products
Explanation:
cause i said so
Answer:
Maximize Your Liquid Savings. ...
Make a Budget. ...
Prepare to Minimize Your Monthly Bills. ...
Closely Manage Your Bills. ...
Take Stock of Your Non-Cash Assets and Maximize Their Value. ...
Pay Down Your Credit Card Debt.
Explanation:
Are fixed costs considered to be anticipated or unanticipated costs? are variable costs considered to be anticipated or unanticipated costs?.
Answers
Answer:
anticipated (Think)
Explanation:
The term fixed cost refers to a cost that does not change with an increase or decrease in the number of goods or services produced or sold. Fixed costs are expenses that have to be paid by a company, independent of any specific business activities. This means fixed costs are generally indirect, in that they don't apply to a company's production of any goods or services.
On Wednesday, your boss asks you if you'd be willing to work an
extra day on Saturday. You agree to come to work. On Friday,
your best friend invites you to go to the beach the next day.
Should you go to work or to the beach on Saturday? Why?
Answers
Answer:
Explanation:
I would go to work on Saturday as it has been agreed upon before my friend invited me to the beach.
Encharta is sitting outside, looking at her beautiful garden. As the sun goes down, the colors become less bright, and finally all become shades of gray. This change happens because the _____ in the dim light.
Answers
This change happens because the **cones** in the dim light.
Cones are specialized photoreceptor cells in the retina of the human eye that are responsible for color vision in bright light conditions. They are sensitive to different wavelengths of light and help us perceive a wide range of colors. However, in dim light conditions, the cones are less active, and our vision becomes less sensitive to color. As a result, the colors in Encharta's garden appear less bright and eventually become shades of gray as the available light decreases. In dim light, our vision relies more on the rods, another type of photoreceptor cell that is more sensitive to light but does not provide detailed color information.
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All of the following actions lead to the payment of a credit card fee EXCEPT... Using your credit card to get cash from an ATM. Using your credit card to purchase items in a foreign country. Paying your credit card bill ten days after the Due Date. Paying your credit card bill in full and on time every month.
Answers
Answer:
Paying your credit card bill in full and on time every month.
Explanation:
The other choices will most likely prompt a fee to be charged.
7. Dissolving a partnership is easier than dissolving a sole proprietorship.
Answers
This statement is incorrect. Dissolving a sole proprietorship is generally easier than dissolving a partnership.
As a sole proprietorship is owned and operated by a single individual, there is no need for a formal agreement or legal documents to dissolve the business. The proprietor can simply stop operating the business, file the necessary paperwork to cancel any business licenses or permits, and close out any business accounts.
In contrast, partnerships involve multiple owners, and the dissolution process can be more complex. Partnerships are typically governed by a partnership agreement, which outlines the terms and conditions for dissolving the business. If there is no agreement in place, state laws may dictate the process for dissolving the partnership.
The dissolution of a partnership typically involves several steps, including notifying creditors and other stakeholders, distributing assets, settling debts and liabilities, and filing appropriate tax forms. These steps can be time-consuming and complex, and may require the assistance of legal and financial professionals.
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A $20 bill features which of the following on the reverse?
A. US Treasury
B. White House
C. US. Capital
D. Independence Hal
Answers
Answer:
B. White House
Explanation:
A portrait of the White house is the main feature visible at the reverse of a $20 bill. The bill has security features, but the White house Image is dominant. At the front, a portrait of the 7th US president Andrew Jackson is visible
Select the correct answer.
A household detergents company introduces a new product in the market. It hires several salespeople to make door-to-door sales for the first three months. The salespeople have to gather certain information about customers during their sales trips. For one such salesperson, a customer is not willing to share details related to his experience with competitor products. In such a case, what should the salesperson do?
A.
refer the case to another colleague who is expert in extracting details out of such customers
B.
forcibly try to get the details out of the customer
C.
respect the customer’s privacy and not ask any further questions
D.
tempt the customer with discounts on the current product if he shares his details
Answers
Answer: C. respect the customer’s privacy and not ask any further questions.
Explanation:
Since the customer is not willing to share details related to his experience with competitor products, the best thing to do in this case is to respect the customer’s privacy and not ask any further questions.
It's good to respect the privacy of people if they are not willing and ready to give out certain information. In this case, it should be noted that forcibly trying to get the details out of the customer isn't ideal.
Likewise, referring the customer to someone more experienced isn't necessary in thus regard since the customer isn't willing to share any information.
Therefore, the correct option is C.
Answer:
C
Explanation:
You should respect the customers privacy because they are not doing anything sketchy. They are just choosing not to share their thoughts.
Define ''limited in stock''
Answers
Answer:
Explanation:
it means that the product wont be around aymore since its limited to retailer?
Which of the following is a style trend?
A. An increase in the population of young parents in a neighborhood
B. The popularity of a new type of jeans
C. An increased concern for protecting the environment
D. The popularity of cell phones that can access the Internet
Answers
B
Explanation:
Drag the tiles to the boxes to form correct pairs.
Match the different. brainstorming techniques to their applications
Answers
Note that the Brainstorming Techniques matched to one another are given as follows:
Clustering - connecting ideas for a topic using different shapes and color-coding to identify how the ideas are relatedThree perspectives - describing the topic, tracing its history, and examining its connections with related topicsFreewriting - writing down first thoughts on a topic in a timed session. without pausing to check for relevance or grammarWhat are brainstorming techniques?The most essential thing to remember with any approach of brainstorming is to prioritize quantity above quality. Accepting all ideas, no matter how ridiculous or unimportant they may appear, aids brainstorming.
The aim is to establish a large enough pool of ideas from which to draw or combine ideas for the best solution or approach.
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Which of the following is not a concern with a non-asset based 3PL?a. Significant internal capacityb. Complexity of the relationshipc. Lack of flexibility
Answers
Answer:
The answer to the question "Which of the following is not a concern with a non-asset based 3PL?" is a. Significant internal capacity . This is because a non-asset based 3PL does not have its own physical assets (such as trucks or warehouses), so it relies on other companies to provide these resources. Thus, the significant internal capacity is not a concern for a non-asset based 3PL. The correct answer is provided in option a,
Explanation: