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OLEGan [10]
2 years ago
8

Malcolm has several receipts from recent transactions that he entered in his records. The receipts include an ATM receipt for an

$80.00 deposit, a grocery store receipt for $25.50, and a paycheck deposit slip for $650.00. When he finishes entering his transactions, Malcolm realizes that his balance is incorrect. Assuming that Malcolm had no beginning balance, what should his correct balance be?a. $624.50
b. $704.50
c. $755.50
d. $784.50
Business
1 answer:
Basile [38]2 years ago
6 0

Answer:

The answer is: B) $704.50

Explanation:

The ATM deposit and the paycheck deposit increase the account balance, while the grocery store receipt decreases the account balance.

Malcolm's initial account balance was                      $0

The ATM deposit adds                                             $80

The grocery store receipt deducts                  ($25.50)

<u>The paycheck deposit adds                                  $650 </u>

Account balance                                               $704.50

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Answer:

Administrative.

Explanation:

The ways in which organizations use the system to provide information for day-to-day decisions about salary, benefits, and recognition programs falls under the <u>Administrative</u> purpose of a performance management system.

Performance management system: It is a system used to evaluate the performance of the employee and rewarding them on the basis of their performance. It also helps in defining the required role of an employee in a given time, which creates transparency in the evaluation process. It serves as a basis for improving employees' knowledge and skills, which motivate employee for better performance.

There are three purposes of performance management:

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Strategic purpose: It is defined as how effective performance help the organization to grow.

Administrative purpose: It is defined as how organizations use the system to provide information for day-to-day decisions about salary, benefits, and recognition programs.

Developmental purpose: It is defined as how system helps organization in developing employee´s skill and knowledge.

3 0
2 years ago
The inventory system whereby the merchandise inventory account balance is merely a record of the most recent physical inventory
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The inventory system whereby the merchandise inventory account balance is merely a record of the most recent physical inventory count is called the periodic system. The periodic inventory system is a<span> method of accounting for merchandise inventory in which the cost of the inventory sold is determined only at the end of an accounting period.</span>
<span>The updates in this system are made on a </span>periodic<span> basis. </span>
5 0
2 years ago
The recommended retail price of a brand of designer jeans is $150. A retail analyst sampled 16 retail stores and found the avera
Lelechka [254]

Answer:

Confidence Interval is 139.04 - 142.96

Explanation:

The formula for a confidence interval is as follow:

Mean (Average price) +/- z-score x standard deviation / sqrt(n)

Formula Interpretation:

Mean = $141

z-score for 95% confidence interval = 1.96

standard deviation = $4

n = 16 --> sqrt (n) = 4

By using these inputs, we can calculate the confidence interval as follow:

141 +/- 1.96 x (4/4)

Confidence Interval is 139.04 - 142.96

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3 years ago
It is important to shop around for credit because banks and financial institutions?
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The defect rate for data entry of insurance claims at Sadegh Kazemi Insurance Co. has historically been about 1.50​%. This exerc
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Answer and Explanation:

Data provided in the question

defect rate i.e. \bar p = 1.50%

the sample size = n = 200

Now

S_p = \sqrt{\frac{\bar p (1 - \bar p)}{n} } \\\\= \sqrt{\frac{1.50\% (1 - 1.50\%)}{200} }

= 0.008595057

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LCL_p = \bar p - 35p

= 0.015 - 3 (0.008595057 )

= 0

hence, the 3 sigma control limits are UCL 0.04078517 and LCL 0 respectively

7 0
2 years ago
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