When an accountant is not independent, the accountant may issue an audit report.
What Is an Audit?The term audit which can as well be used as financial statement audit serves as the objective examination as well as evaluation of the financial statements of an organization so as to know how the financial records are fairing.
This process help with the accurate representation of the transactions they claim to represent, hence When an accountant is not independent, the accountant may issue an audit report.
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When an electronics company sells its global positioning systems to a car manufacturer, it is engaged in ________ marketing. multiple choice
When an electronics company sells its global positioning systems to a car manufacturer, it is engaged in B2B marketing.
What is B2B marketing?
Business marketing is a form of marketing used by people or organisations. It enables users to sell goods or services to businesses or nonprofits that then resell them, incorporate them into their own goods or services, or use them to fund their endeavours. It is a means of advancing commerce and raising earnings as well. We've divided the many business customers in B2B marketplaces into four fundamental groups in order to provide you a better understanding of them: producers, resellers, governments, and institutions. It refers to any marketing tactic or piece of material used by one company to promote to and sell to another company. For instance, B2B marketing is frequently used by businesses that sell goods, services, or SaaS to other businesses or organisations.
Therefore,
When an electronics company sells its global positioning systems to a car manufacturer, it is engaged in B2B marketing.
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To do a thorough environmental scan, a marketer must consider both current and potential ________ in designing a marketing strategy.
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?
Environmental scanning is the examination of outside sources to find elements that affect a firm. Finding and consulting sources outside of the company is the key objective. Despite the fact that these sources cannot be controlled from the standpoint of the business, it is crucial to take them into account when making decisions.SWOT analysis is one well-liked technique for scanning the environment. Strengths, Weaknesses, Opportunities, and Threats are each represented by a letter, and each should be examined. The company's internal factors make up the company's strengths and possibilities, while external variables make up the company's weaknesses and dangers.Companies want the environmental scans they invest time and resources in to produce the most thorough results possible.To know more about Environmental scan visit:
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Zweig company's adjusting entries include a debit to accounts receivable and a credit to service revenue. this means that zweig:_______
This means that Zweig provided services for which it did not yet receive payment. If Zweig recorded service revenue as a debit, it meant that Zweig had been paid for the already-performed service.
Adjusting entries are modifications to previously written entries in your journal. Journal entries record the inflow and outflow of funds into and out of the various accounts in your business. Making an adjustment entry ensures that the operations of your company are accurately and timely recorded. Your records will show you paying for expenses before they are actually incurred or collecting unearned earnings before you can use the money if you don't make adjustment entries.
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Molding and sanding each unit of product would most likely be classified as a ________ cost.
Molding and sanding each unit of the product would most likely be classified as a (B) unit-level cost.
What do we mean by unit-level cost?A unit cost is a total cost incurred by a business to produce, store, and sell one unit of a specific product or service. The cost of goods sold is synonymous with unit costs (COGS). This accounting metric includes all fixed and variable costs associated with the manufacture of a product or service. Every time service or a product is provided, unit-level activities take place. Unit-level activities include the costs of direct materials, direct labor, and machine maintenance. Molding and sanding each unit of the product, for example, would almost certainly be classified as a unit-level cost.Therefore, molding and sanding each unit of the product would most likely be classified as a (B) unit-level cost.
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The correct question is given below:
Molding and sanding each unit of the product would most likely be classified as a ________ cost.
(A) product-level
(B) unit-level
(C) batch-level
(D) facility-level
An integrated audit performed under the sarbanes-oxley act requires that auditors provide opinions on?
An integrated audit performed under the Sarbanes-Oxley Act requires that auditors provide opinions on financial statements and internal control.
An integrated audit tends to consider the relationship between financial and operational controls and also the information technology in establishing an effective and efficient internal control environment.
Since the Sarbanes-Oxley Act came into effect, management is thus responsible for maintaining, establishing, and reporting on an internal control structure, and here the auditors are required in order to assess the internal control structure.
Hence, the objective of an integrated audit is for the auditors to express an opinion on the company’s controls on financial reporting.
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Using the collective power of a community to identify and classify content significantly ________ content categorization costs.
Using the collective power of a community to identify and classify content significantly lower content categorization costs.
What does a community's collective power entail?The two types of power highlighted by social scientists—collective power and distributive power—are included in Russell's concept. It is the combination of organization, cooperation, morale, and technology that enables one group or nation to thrive and succeed while another one falters.
Collective power is the ability of a group to fulfill its collective goals. It is a crucial sort of power, yet it is rarely discussed and frequently taken for granted. It is what enables the existence of distributive power since, without the group's ability to work together and produce, there would be nothing to fight over.
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Morris lest, inc. purchased machinery for $10,000 cash. the effect of this transaction is to cause?
Morris Lest Inc.'s acquisition of machinery would result in the same level of total assets.
How will the assets fare?The acquisition of machines will boost total assets. For the production of products and services, equipment is a fixed asset that is necessary.
Cash is also an asset and using it to purchase items will reduce it. As a result, the total assets in this instance remained unchanged as one asset decreased and another increased by the same amount.
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Exchange rates, interest rates, and inflation are all considered part of the _________ environment.
Exchange rates, inflation, and interest rates are all considered part of the economic environment.
The economic environment is referred to as the macro-economic factors, which includes, economic growth, national income, and inflation, which thus affect patterns of consumer and business spending. Thus, companies sell products at lower prices and so they are able to attract larger number of customers.
When considering the rise and fall of the economy in general, within certain industries, or maybe in the specific parts of the world, this rise and fall of economy has a big impact on what customers tend to buy.
Hence, the economic environment is considered important because of the rapid integration of international economic markets.
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What is the difference between an appreciating asset and a depreciating asset? give examples of both.
The assets that appreciate in value over time are those. Growing one's wealth may be mostly attributed to financial investments in or ownership of appreciating assets. Contrarily, depreciating assets are those that lose value over time and as they are used.
What are assets?A resource having economic worth that a person, business, or nation possesses or controls with the hope that it would someday be useful is referred to as an asset. Assets are reported on a company's balance sheet. They are divided into four categories: tangible, financial, fixed, and current. They are acquired or produced in order to raise a company's worth or improve the operations of the company. Whether it's manufacturing equipment or a patent, an asset may be viewed of as anything that, in the future, can create cash flow, lower expenditures, or increase sales.
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Record the consumption of supplies during the month if supplies worth $4,000 were purchased on january 5 and at the end of the month supplies worth $3,000 were in hand.
If supplies worth $4,000 were purchased on january 5 and at the end of the month supplies worth $3,000 were in hand. The appropriate journal entry to record the transaction is: Debit Supplies expense $1,000, Credit Supplies $1,000.
Journal entrySince supplies worth the amount of $4,000 were purchased on January 5 and at the end of the month supplies worth the amount of $3,000 were in hand.
Hence,
Journal entry
January 5
Debit Supplies expense $1,000
Credit Supplies $1,000
($4,000-$3,000)
Therefore the appropriate journal entry to record the transaction is: Debit Supplies expense $1,000, Credit Supplies $1,000.
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Educational level, living conditions, and economic status are part of the ______ assessment.
Educational level, living conditions, and economic status are part of the environmental assessment .
What do you mean by environmental assessment?
Environmental Impact Assessment (EIA) is a tool used to assess the significant effects of a project or development proposal on the environment. EIAs make sure that project decision makers think about the likely effects on the environment at the earliest possible time and aim to avoid, reduce or offset those effects
Why do we need Environmental Assessment?
i) To disclose significant environmental effects of proposed projects to decision-makers and the public. ii) To identify ways to avoid or reduce environmental damage. iii) To prevent adverse environmental impacts by requiring implementation of feasible alternatives or mitigation measures.
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During june, buttrey corporation incurred $79,000 of direct labor costs and $19,000 of indirect labor costs. the journal entry to record the accrual of these wages would include a:_________
Answer: debit to work in Process of $79,000.
What is journal entry?A journal entry is used to record a business transaction in the company's accounting records. The main ledger is where journal entries are frequently made, however they can alternatively be created in a subsidiary ledger and then rolled forward into the general ledger after being summarized. After that, financial statements for the company are generated using the general ledger.
According to the logic underlying a journal entry, every business transaction should be documented in at least two locations (known as double entry accounting). For instance, the income account and the cash account are both boosted when you make a cash sale. Alternately, raising the accounts payable and inventory accounts results from making purchases on credit.
Explanation:
Cost of direct labor: $79,00 and
$19,000 is indirect labor costs
Work in process is debited and factory payroll is credited when direct labor costs are allocated to it.
Manufacturing overhead is deducted and factory payroll is credited when direct labor costs are attributed to work that is already in progress.
In order to record the accrual of Direct labor expenses, a journal entry would need to debit work in process by $79,000 and credit factory payroll by the same amount.
In order to record accrual of indirect labor costs, a journal entry would debit manufacturing overhead by $19,000 and credit factory payroll by the same amount.
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If the federal funds market is at equilibrium at point c and the federal reserve decides to conduct an open-market sale, then it must be trying to set a:______
Lower the market's reserve level to increase the target federal funds rate.
How Do Federal Funds Work?
Federal funds, often known as fed funds, are surplus reserves that commercial banks and other financial institutions deposit with regional Federal Reserve banks. These funds can subsequently be lent to other market participants who lack the necessary cash on hand to meet their lending and reserve needs. Since the majority of these loans are issued for the overnight period, they are unsecured and have a relatively low interest rate known as the federal funds rate or overnight rate.
Federal funds are extra reserves that financial institutions hold over and above the central bank's mandated reserve requirements.
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The concept of _______________________ helps public relations people in communicating from the standpoint of their client's values while interpreting their publics' cultures back to the client.
The concept of cultural convergence helps public relations people in communicating from the standpoint of their client's values while interpreting their publics' cultures back to the client.
This is further explained below.
What is cultural convergence?Generally, The idea of cultural convergence assists those who work in public relations in speaking from the perspective of the values of their client while simultaneously translating the cultures of their public back to the client.
In conclusion, The concept of convergence culture is a philosophy that acknowledges the shifting nature of our connections and experiences in relation to new forms of media.
Academics in the field of media generally agree that Henry Jenkins, with his book "Convergence Culture: where old and new media mix," is the "father" of the term "convergence culture."
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A _____ is conducted by marketing researchers to provide background information on other organizations that may have faced similar problems.
Marketing researchers perform a review of the literature to provide context for other firms that could have encountered related issues.
A marketing researcher is what?
Analysis of data from marketing reports and recommendation-making based on that analysis are the duties of a marketing researcher, also known as a marketing research analyst. Their suggestions assist the marketing staff in project planning and helping to keep the company's consumer base constant.
Numerous marketing researchers also contribute to the creation and execution of marketing content strategies and data analysis of the business, its goods or services, and client purchasing patterns. Being knowledgeable about current marketing trends in one's business and remaining current with new marketing technologies are essential components of every marketing researcher's job.
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Demand curves slope ____ because as the price increases and other things remain the same, the quantity demanded ____.
Demand curves slope downwards because as the price generally and actually increases and other things remain the same, the quantity demanded decreases.
What is a Demand Curve?The demand curve is a graphical portrayal of the connection between the cost of a decent or administration and the amount demanded for a given timeframe.
The demand curve will move descending from the left to the right, which communicates the law of demand as the cost of a given ware builds, the amount demanded diminishes, all else being equivalent. How much rising cost converts into falling demand is called demand versatility or value flexibility of demand.
Therefore Different elements can move the demand curve too, like an adjustment of buyers' inclinations.
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When the intensity of contractions increases, will the stimulus increase or decrease?
Due to an increase in the intensity of contractions, the stimulus will increase.
What happens to the stimulus when contraction intensity increases?First, you need to understand what the stimulus is. The stimulus in this regard is the pushing of the baby's head against the walls of the cervix.
When the intensity of the contractions being experienced increases, this is the body saying that the baby needs to come out. The baby's head would therefore push against the cervix more which means that the stimulus is increasing.
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Tyler entered into a contract with leah to provide supplies for her business. What form can the writing of the contract take?
The contract can be written as a 1. an email 2. an invoice 3. a verify.
What Is an Agreement for Business?
Business contracts are used by all parties, including large corporations, small business owners, and even independent contractors. It is advisable for the two parties involved in the trade to create a business contract whenever goods, duties, or services are exchanged in exchange for payment. Business contracts can be upheld through legal action, shielding the two parties from unfair treatment.
An offer of some kind must be made by one party and formally accepted by the other in order for a commercial contract to be formed, as well as a promise to provide a good or service or deliver a product.
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By bundling share purchases of many investors together mutual funds can take advantage of economies of scale and thereby lower.
Mutual funds can take benefit from economies of scale and thereby lower transaction costs by bundling share purchases of many investors together.
You can "mutually" acquire stocks, bonds, and other investments through mutual funds, which allow you to combine your money with that of other investors. They are managed by qualified money managers, who choose which securities to acquire (stocks, bonds, etc.) and when to sell them. You have access to any investment made in the fund as well as any revenue it may provide.
Economies of scale are the cost advantages a company has as a result of increasing its output level. The benefit results from the inverse connection between the amount produced and the fixed cost per unit. The fixed cost per unit decreases as production volume increases.
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What were costco operating and net profit margins in that year? how do they compare with its margins in the prior year?
A. The operating profit margin was 3.10% while the net profit margin was 2.40% in 2019. The former decreased while the latter increased with respect to those of the prior year.
What are the operating profit margin and net profit margin?The operating profit margin is the ratio of the operating profit to the net sales for the period.
The net profit margin is the net income ratio to the period's net sales.
Both operating profit margin and net profit margin are financial ratios used to indicate the profitability of the business, making it comparable to previous periods or other businesses.
Data and Calculations:2019 (Millions) 2018 (Millions)
Net Sales $149,351 $138,434
Operating Income 4,737 4,480
Net Income 3,659 3,134
Operating Income margin 3.17% 3.24%
Net Income margin 2.45% 2.26%
Operating Income margin = Operating Income/Net Sales x 100
Net Income margin = Net Income/Net Sales x 100
Thus, Option A is the best choice for Costco's operating profit and net profit margins for 2019.
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Question Completion with Answer Options:2019 (Millions) 2018 (Millions)
Net Sales $149,351 $138,434
Operating Income 4,737 4,480
Net Income 3,659 3,134
(Select the best choice below.)
O A. The operating profit margin was 3.10% while the net profit margin was 2.40%. The former decreased while the latter increased with respect to those of the prior year.
OB. The operating profit margin was 3.02% while the net profit margin was 2.12%. The former decreased while the latter increased with respect to those of the prior year.
OC. The operating profit margin was 3.16% while the net profit margin was 2.21%. The former decreased while the latter increased with respect to those of the prior year.
OD. The operating profit margin was 3.19% while the net profit margin was 2.08%. The former decreased while the latter increased with respect to those of the prior year.
The assets of a company total $714,000; the liabilities, $207,000. what are the net assets?
The Net assets in stockholders equity of the company are $507,000
How to Calculate Net Assets?Net assets are the value of a company's assets minus its liabilities. It is calculated as (Total Fixed Assets + Total Current Assets) – (Total Current Liabilities + Total Long Term Liabilities).Now,
Assets = Liabilities + Stockholders' Equity
$714,000 = $207,000 + Stockholders' Equity (or Claims of the Owners);
Stockholders' Equity = $507,000
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According to passman, if you sell your song to a publisher, you can get it back 35 years later by merely sending a notice. this is called?
According to Passman, you can simply write a notice 35 years after selling your song to a publisher to obtain it back. This is called Termination Rights.
Any right of the tenant to void or terminate the lease or to demand a partial or complete eviction resulting from a violation or default by the landlord under the terms of the lease is referred to as a "Termination Right" (whether under the terms of the lease or under relevant legislation). Giving the Defaulting Party no more than 20 days' notice, the Non-Defaulting Party may designate a day as an early termination date (the "Early Termination Date") in respect of all pending Transactions between the Parties if, at any time, an Event of Default has happened and is ongoing. The pertinent Event of Default must be identified in this notice. The notice's effective date cannot be earlier than the early termination date.
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it is a rainy day, and you are considering taking an uber one mile to meet some friends. you have decided you are willing to pay $20 to avoid getting wet from the rain. the trip would normally cost you $8, but because of the weather the surcharge is twice the regular cost. you should because the benefit to you of taking the uber is than the cost.
You should take an Uber because the benefit to you of taking the Uber is more than the cost.
The term "cost" refers to the sum of all (actual or hypothetical) expenses incurred for or related to a given thing or activity. Cost is the amount of money spent by a business to produce or create goods or services. It excludes the profit margin markup. Cost is the sum of money spent on making a good or product, as seen from the seller's perspective. Costing is necessary to make sure that all costs are met and that the group decides on a price that will result in a profit. Finding all of a company's costs, including production, sales, administrative, overhead, etc., is the first and most crucial step. Costs are then divided into fixed and variable costs.
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When individuals use all available information about an economic variable to make a decision, expectations are?
when individuals use all available information about an economic variable to make a decision, expectations are -rational
What is economic variable?
An economic variable is any measurement that helps to consider how an economy may function . for instance population, poverty rate, inflation, and available resources.
What are the five economic variables?
There are 5 common economic variable that are considered :
output, gross domestic product ( GDP ), production, income, and expenditures.
What factors cause economic growth?
Basically , there are two main cause of economic growth: growth in the size of the workforce and growth in the production activity (output per hour worked) of that workforce.
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One goal of low-cost programs aimed at improving the health of older people is to?
The objective of low-cost programs designed to improve the health of seniors is to address the issue that many seniors lack understanding of their own chronic health issues.
An important risk factor for functional impairment in older persons is the presence of many chronic conditions, commonly known as comorbidities or multi-morbidities. Functional impairment is the inability to carry out regular domestic tasks and chores or to participate in activities outside the home without interference. Many older persons experience an increasing number of complex health problems as they age, which negatively impact their ability to function on a day-to-day basis and their general quality of life. The prevalence of memory problems adds to these worries for some individuals and groups of older folks.
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If the economy is operating at point c, the opportunity cost of producing an additional 15 units of bacon is.
If the economy is operating at point c, the opportunity cost of producing an additional 15 units of meat is 20 units of eggs.
Opportunity cost is a theory that arises from scarcity, as well as unlimited human needs and wants. Therefore, opportunity costs usually occur when humans are faced with two or more choices.
In addition, it is important to understand the concept of opportunity cost because there are several reasons as follows.
Sharpen decision-making skillsIt's wiser to accept the riskForming more positive thoughtsHelp plan a better futureExamples of Opportunity Costs in Daily Life
For example, a person only has 15 dollars. However, he was faced with a choice, namely, to buy fried chicken rice or a boba drink. He can only choose one of the two menus because the money he has is limited. In the end, he chose to buy a boba drink, so he missed the opportunity to eat fried chicken rice.
The picture above is the concept of applying opportunity cost in everyday life. Essentially, any of these opportunity costs must be profitable.
When viewed in terms of cost, the choice of the lowest load or the lowest cost will be an alternative cost. Meanwhile, when viewed in terms of production, choose which sector is able to produce more products than others.
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If black diamond were to begin focusing its business strategy on offering mountaineering tours with guides and support teams to promote outdoor tourism then this would be an example of:________
If black diamond were to begin focusing its business strategy on offering mountaineering tours with guides and support teams to promote outdoor tourism then this would be an example of a service organization
What is black diamond?One of the strongest varieties of natural diamond is carbonado, also referred to as black diamond. It is an impure, high-density, microporous variety of polycrystalline diamond made up primarily of diamond, graphite, and amorphous carbon, with sporadic reduced metal inclusions and minor crystalline precipitates filling the pores.
Real diamonds can be found in the dark. Natural diamonds, Carbonados, and black diamonds that have undergone treatment can all be found. Contrary to natural diamonds and Carbonados, processed black diamonds undergo heat treatment to acquire their hue.
Black diamonds that have been treated typically cost $300 per carat, however untreated black diamonds typically cost $3,000 per carat.
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Classifying items on the balance sheet as current and noncurrent assists financial statement users in assessing what aspects about a company?
The classification of items on the balance sheet as current and noncurrent assists the financial statement users in assessing the solvency & liquidity a company.
What is a solvency & liquidity?A solvency means a firm ability to meet long-term debts and continue operating into the future while the liquidity means the firm ability to pay short-term bills and debts and a company's capability to sell assets quickly to raise cash.
Therefore, the classification of items on the balance sheet as current assets (such as inventory, debtors, cash, bank) and noncurrent (land, machinery, building etc) assists the financial statement users in assessing the solvency & liquidity a company.
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The cost to lay off an employee is what percent of the hiring cost for that level?
The cost to lay off an employee is what percent of the hiring cost for that level is 30-50 percent.
What is the cost of hiring?Finding the ideal employee can be expensive in and of itself. Business consultant Bill Bliss, president of Bliss & Associates Inc., claims that the hiring process alone might have a number of high potential expenses.
These include the time spent advertising the position, the time spent by an internal recruiter, the time spent by the recruiter's assistant reviewing resumes and carrying out other tasks related to recruitment, the time spent by the person conducting the interviews, the time spent on drug tests and background checks, and the cost of various pre-employment assessment tests. Even a $8/hour employee might wind up costing a business $3,500 in turnover expenses, both direct and indirect. Not every new hiring will require the same procedure.
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Please help
starbright industries which manufactures radiators has recently begun doing business in japan. its executives make a deal to export a shipment of a new type of radiator to japan once the product exits the production stage. the shipment will be worth one billion yen or approximately $9.4 million us dollars.
how does this situation show the difficulty that may be posed by implementing an international set of standards?
The situation shows why it is difficult to implement an international set of standards because different countries might have different standards they adhere to.
Why is it hard to implement an international set of standards?Countries have differing sets of standards based on the prevailing situations in their nations. When they produce goods and services, they will go by those standards. Those standards can sometimes also give them an advantage over other nations which is probably why Starbright Industries is able to sell radiators in Japan.
If an international set of standards is proposed, some nations might kick against it because they want to maintain their competitive edge. Other nations might not be able to afford to meet the new standards and so will protest as well.
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