Which of the following statements is incorrect?

Crude futures in New York were lower on Wednesday, following a record decline in the first quarter

Oil held near $20 a barrel as Saudi Aramco’s output surged above 12 million barrels a day, but Russia said it would refrain from further production hikes.

Crude futures in New York were lower on Wednesday, following a record decline in the first quarter.

While state-run Aramco’s oil supply has surpassed 12 million barrels a day and is ticking higher, Russia said it won’t lift output as it’s not profitable to do so, according to a government official familiar with the country’s plans.

President Trump has said the US will meet with Saudi Arabia and Russia in an attempt to bolster prices.

The market is grappling with a bumper oversupply, while demand is set to fall by as much as 30 million barrels a day in April, according to an executive at the world’s largest independent oil trader.

Any agreement to cut output would likely be too late and would fall short of the loss in consumption, according to Goldman Sachs Group Inc.

Industry data signaled that US oil stockpiles are set for their biggest weekly increase since 2017.

“I don’t think they’re going to come to the table for talks just yet, because for both sides, it would require a significant step-down,” Amrita Sen, chief oil analyst at Energy Aspects said in a Bloomberg TV interview. “I do think both Russia and Saudi Arabia will be forced to cut back production, not because there’s a deal or they’re talking, but because of market forces.”

Prices:
West Texas Intermediate lost 21 cents to $20.27 a barrel as of 10.35am in London
Brent crude for June settlement fell 4.8 per cent to $25.09
Dated Brent, the benchmark for two-thirds of the world’s real oil supply, was assessed at $17.675 on Tuesday, down 11.5 cents from Monday when it was already the lowest price since 2002

.

Required Question

Question 01: What are the major threat in the fall of Oil Price in the OPEC?

Question 02: What are the entrepreneurial skills needed in order to draw different businesses in the Gulf countries?

Question 03: Discuss the major drawbacks in the Gulf Countries economy?

Crude futures in New York were lower on Wednesday, following a record decline in the first quarter

Oil held near $20 a barrel as Saudi Aramco’s output surged above 12 million barrels a day, but Russia said it would refrain from further production hikes.

Crude futures in New York were lower on Wednesday, following a record decline in the first quarter.

While state-run Aramco’s oil supply has surpassed 12 million barrels a day and is ticking higher, Russia said it won’t lift output as it’s not profitable to do so, according to a government official familiar with the country’s plans.

President Trump has said the US will meet with Saudi Arabia and Russia in an attempt to bolster prices.

The market is grappling with a bumper oversupply, while demand is set to fall by as much as 30 million barrels a day in April, according to an executive at the world’s largest independent oil trader.

Any agreement to cut output would likely be too late and would fall short of the loss in consumption, according to Goldman Sachs Group Inc.

Industry data signaled that US oil stockpiles are set for their biggest weekly increase since 2017.

“I don’t think they’re going to come to the table for talks just yet, because for both sides, it would require a significant step-down,” Amrita Sen, chief oil analyst at Energy Aspects said in a Bloomberg TV interview. “I do think both Russia and Saudi Arabia will be forced to cut back production, not because there’s a deal or they’re talking, but because of market forces.”

Prices:
West Texas Intermediate lost 21 cents to $20.27 a barrel as of 10.35am in London
Brent crude for June settlement fell 4.8 per cent to $25.09
Dated Brent, the benchmark for two-thirds of the world’s real oil supply, was assessed at $17.675 on Tuesday, down 11.5 cents from Monday when it was already the lowest price since 2002

.

Required Question

Question 01: What are the major threat in the fall of Oil Price in the OPEC?

Question 02: What are the entrepreneurial skills needed in order to draw different businesses in the Gulf countries?

Question 03: Discuss the major drawbacks in the Gulf Countries economy?

Crude futures in New York were lower on Wednesday, following a record decline in the first quarter

Oil held near $20 a barrel as Saudi Aramco’s output surged above 12 million barrels a day, but Russia said it would refrain from further production hikes.

Crude futures in New York were lower on Wednesday, following a record decline in the first quarter.

While state-run Aramco’s oil supply has surpassed 12 million barrels a day and is ticking higher, Russia said it won’t lift output as it’s not profitable to do so, according to a government official familiar with the country’s plans.

President Trump has said the US will meet with Saudi Arabia and Russia in an attempt to bolster prices.

The market is grappling with a bumper oversupply, while demand is set to fall by as much as 30 million barrels a day in April, according to an executive at the world’s largest independent oil trader.

Any agreement to cut output would likely be too late and would fall short of the loss in consumption, according to Goldman Sachs Group Inc.

Industry data signaled that US oil stockpiles are set for their biggest weekly increase since 2017.

“I don’t think they’re going to come to the table for talks just yet, because for both sides, it would require a significant step-down,” Amrita Sen, chief oil analyst at Energy Aspects said in a Bloomberg TV interview. “I do think both Russia and Saudi Arabia will be forced to cut back production, not because there’s a deal or they’re talking, but because of market forces.”

Prices:
West Texas Intermediate lost 21 cents to $20.27 a barrel as of 10.35am in London
Brent crude for June settlement fell 4.8 per cent to $25.09
Dated Brent, the benchmark for two-thirds of the world’s real oil supply, was assessed at $17.675 on Tuesday, down 11.5 cents from Monday when it was already the lowest price since 2002

.

Required Question

Question 01: What are the major threat in the fall of Oil Price in the OPEC?

Question 02: What are the entrepreneurial skills needed in order to draw different businesses in the Gulf countries?

Question 03: Discuss the major drawbacks in the Gulf Countries economy?

Crude futures in New York were lower on Wednesday, following a record decline in the first quarter

Oil held near $20 a barrel as Saudi Aramco’s output surged above 12 million barrels a day, but Russia said it would refrain from further production hikes.

Crude futures in New York were lower on Wednesday, following a record decline in the first quarter.

While state-run Aramco’s oil supply has surpassed 12 million barrels a day and is ticking higher, Russia said it won’t lift output as it’s not profitable to do so, according to a government official familiar with the country’s plans.

President Trump has said the US will meet with Saudi Arabia and Russia in an attempt to bolster prices.

The market is grappling with a bumper oversupply, while demand is set to fall by as much as 30 million barrels a day in April, according to an executive at the world’s largest independent oil trader.

Any agreement to cut output would likely be too late and would fall short of the loss in consumption, according to Goldman Sachs Group Inc.

Industry data signaled that US oil stockpiles are set for their biggest weekly increase since 2017.

“I don’t think they’re going to come to the table for talks just yet, because for both sides, it would require a significant step-down,” Amrita Sen, chief oil analyst at Energy Aspects said in a Bloomberg TV interview. “I do think both Russia and Saudi Arabia will be forced to cut back production, not because there’s a deal or they’re talking, but because of market forces.”

Prices:
West Texas Intermediate lost 21 cents to $20.27 a barrel as of 10.35am in London
Brent crude for June settlement fell 4.8 per cent to $25.09
Dated Brent, the benchmark for two-thirds of the world’s real oil supply, was assessed at $17.675 on Tuesday, down 11.5 cents from Monday when it was already the lowest price since 2002

.

Required Question

Question 01: What are the major threat in the fall of Oil Price in the OPEC?

Question 02: What are the entrepreneurial skills needed in order to draw different businesses in the Gulf countries?

Question 03: Discuss the major drawbacks in the Gulf Countries economy?

Crude futures in New York were lower on Wednesday, following a record decline in the first quarter

Oil held near $20 a barrel as Saudi Aramco’s output surged above 12 million barrels a day, but Russia said it would refrain from further production hikes.

Crude futures in New York were lower on Wednesday, following a record decline in the first quarter.

While state-run Aramco’s oil supply has surpassed 12 million barrels a day and is ticking higher, Russia said it won’t lift output as it’s not profitable to do so, according to a government official familiar with the country’s plans.

President Trump has said the US will meet with Saudi Arabia and Russia in an attempt to bolster prices.

The market is grappling with a bumper oversupply, while demand is set to fall by as much as 30 million barrels a day in April, according to an executive at the world’s largest independent oil trader.

Any agreement to cut output would likely be too late and would fall short of the loss in consumption, according to Goldman Sachs Group Inc.

Industry data signaled that US oil stockpiles are set for their biggest weekly increase since 2017.

“I don’t think they’re going to come to the table for talks just yet, because for both sides, it would require a significant step-down,” Amrita Sen, chief oil analyst at Energy Aspects said in a Bloomberg TV interview. “I do think both Russia and Saudi Arabia will be forced to cut back production, not because there’s a deal or they’re talking, but because of market forces.”

Prices:
West Texas Intermediate lost 21 cents to $20.27 a barrel as of 10.35am in London
Brent crude for June settlement fell 4.8 per cent to $25.09
Dated Brent, the benchmark for two-thirds of the world’s real oil supply, was assessed at $17.675 on Tuesday, down 11.5 cents from Monday when it was already the lowest price since 2002

.

Required Question

Question 01: What are the major threat in the fall of Oil Price in the OPEC?

Question 02: What are the entrepreneurial skills needed in order to draw different businesses in the Gulf countries?

Question 03: Discuss the major drawbacks in the Gulf Countries economy?

From research, it is known that the opinions of US parents on whether a college education is worth the expense is the following: strongly agree 55%, somewhat agree 30%, neither agree nor disagree 5%, somewhat disagree 6% strongly disagree 4%. An economist claims that the distribution of the opinions of the opinions of US teenagers is different from the distribution opinions of US parents. To test the economist randomly selected 200 US teenagers and asked each whether a college education is worth the expense. The table shows the results. At level of significance of 5%, is there enough evidence to support the economist’s claim?

Question 6 Oriole Company reported the following amounts for its cost of goods sold and ending inventory: 2021 2020 Cost of goods sold $170,000 $175,000 Ending inventory 30,000 30,000 Oriole made two errors: (1) 2020 ending inventory was overstated by $10,500, and (2) 2021 ending inventory was understated by $9,000. Calculate the correct cost of goods sold and ending inventory for each year. 2021 2020 Correct ending inventory $enter a dollar amount $enter a dollar amount Correct cost of goods sold $enter a dollar amount $enter a dollar amount Describe the impact of the errors on profit for 2020 and 2021 and on owner’s equity at the end of 2020 and 2021. In 2020 profit is select an option by $enter a dollar amount , the amount of the error in ending inventory. This error flows through to owner’s equity in 2020 to produce an select an option of $enter a dollar amount . In 2021 both errors have an impact. The net effect is an select an option of profit by $enter a dollar amount . This is a result of the $10,500 select an option of the beginning inventory plus $enter a dollar amount select an option of ending inventory. Owner’s equity in 2021 would show only an select an option of $enter a dollar amount . The $10,500 select an option of 2020 would be offset by the $10,500 select an option in profit caused by the impact on beginning inventory in 2021

Rainbow Cosmetics hires Tiffany as the Sales and Marketing Manager. She finds the culture of Rainbow Cosmetics is quite different from the companies that she worked before. In Rainbow Cosmetics, the staff of the department are divided into different teams, and members of each team have to work collaboratively to achieve the annual sales target. The winning team of the year would be rewarded with a team-based bonus. The personal achievement is also counted that the individual would be rewarded if they propose new ideas for new product development. The supervisors within the company are high tolerance in careless mistakes. The company will conduct a face-to-face interview with each of its employees for the plan of career development. Because of the arrangement, members within the teamwork aggressively just like they are running their own businesses. Tiffany used to work alone as a marketer, and she believes that teamwork is more time- consuming. She has a daughter who is two-years-old. She would like to spend more time with her.

(a) Identify and explain any FIVE cultural characteristics. Use them to describe the culture of the “Rainbow Cosmetics”.

(b) Describe the stages that Tiffany will process to adapt herself to the culture of “Rainbow Cosmetics”. Use examples to illustrate your answers.