Statement 1. is True. Operating leverage is concept demonstrates how use of fixed costs in company's cost structure impact profitability. Statement 2. is False. Ex: Property taxes, depreciation expenses.
1. True. "Operating Leverage" refers to the use of fixed costs in a company's cost structure to amplify the impact of changes in sales volume on its operating income or profits. When a company has high fixed costs and low variable costs, small changes in sales can lead to significant changes in operating income, thus magnifying returns. 2. False. Property taxes and depreciation expenses are examples of fixed costs rather than variable costs. Fixed costs are expenses that do not vary with the level of production or sales volume. Property taxes are typically based on the assessed value of a property and remain constant regardless of production or sales. Depreciation expenses, which represent the allocation of the cost of assets over their useful lives, also do not vary with production or sales.
1. Operating leverage is a concept that demonstrates how the use of fixed costs in a company's cost structure can impact its profitability. When a company has a high proportion of fixed costs, such as rent, salaries, or equipment maintenance, it means that a large portion of its expenses does not change with changes in sales volume. As a result, small changes in sales can lead to significant changes in operating income. This magnification effect can work both ways, amplifying profits in times of increasing sales and magnifying losses when sales decline. 2. Property taxes and depreciation expenses are examples of fixed costs. Fixed costs are expenses that do not vary with changes in sales volume or production levels. Property taxes are imposed by local governments based on the assessed value of properties and remain constant regardless of sales or production. Depreciation expenses, on the other hand, represent the allocation of the cost of assets over their useful lives and are also fixed costs as they do not vary with production or sales.
Understanding the distinction between fixed and variable costs is crucial for businesses to analyze their cost structures and assess their operating leverage. By identifying the proportion of fixed costs in the cost structure, companies can evaluate the potential impact of changes in sales on their profitability and make informed decisions regarding pricing, production levels, and cost management strategies.
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At the time of sale, warranty costs should be:
estimated based on the company's history of product repairs.
ignored.
recorded at 2% of sales.
Mason Company sold 1,000 flat screen televisions at a price of $900 each. Mason offers a 3-year warranty on all electronics. Estimated repair expense based on prior year’s experience is 2% of sales. What is the appropriate adjusting journal entry that Mason should make to record warranty expense?
Debit Warranty expense 18,000; Credit Warranty liability 18,000
Debit Warranty expense 6,000; Credit Warranty liability 6,000
Debit Warranty expense 18,000; Credit Cash 18,000
Debit Warranty expense 6,000; Credit Cash 6,000
recorded when paid
The appropriate adjusting journal entry that Mason should make to record warranty expense is to debit warranty expense for $18,000 and credit warranty liability for $18,000.At the time of sale, warranty costs should be estimated based on the company's history of product repairs.
Mason sold 1,000 flat screen televisions at a price of $900 each, which gives us total sales of $900,000 ($900*1,000). Mason offers a 3-year warranty on all electronics. Estimated repair expense based on prior year’s experience is 2% of sales.
The estimated warranty expense for Mason Company is 0.02*900,000=$18,000. Therefore, the appropriate adjusting journal entry that Mason should make to record warranty expense is to debit warranty expense for $18,000 and credit warranty liability for $18,000.
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How many seconds are there in 12.5 years? (Use 365 days/year and you should know how many hrs/day and min/hr and sec/min)
There are 394200000 seconds in 12.5 years (using 365 days/year and 24 hours/day and 60 minutes/hour and 60 seconds/minute).The number of seconds in 12.5 years can be found as follows:
Using 365 days per year, 24 hours per day, 60 minutes per hour, and 60 seconds per minute, there are 394200000 seconds in 12.5 years.
As seen here, there are 12.5 seconds in a year.We have 4562.5 days total (365 days each year x 12.5 years).
We have;365 days/year x 12.5 years = 4562.5 days
We know that;24 hours/day x 60 minutes/hour x 60 seconds/minute
= 86,400 seconds/day
So,4562.5 days x 86,400 seconds/day = 394200000 seconds
Therefore, there are 394200000 seconds in 12.5 years when using 365 days/year and 24 hours/day and 60 minutes/hour and 60 seconds/minute.
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Give an explanation of each of the six perspectives of Quality and give an example of each. (15 marks)
The six perspectives of quality provide different dimensions to assess and measure the quality of a product or service. Here are explanations and examples of each perspective:
Transcendent Perspective: The transcendent perspective views quality as an inherent characteristic that is difficult to define but can be recognized through experience. It focuses on the overall excellence and superiority of a product or service. For example, a luxury watch known for its precision, craftsmanship, and timeless design represents the transcendent perspective of quality.
Product-Based Perspective: The product-based perspective emphasizes the specific features, performance, and attributes of a product that contribute to its quality. It assesses quality based on conformance to specifications and the absence of defects. An example would be a smartphone that offers advanced features, durability, and a user-friendly interface.
User-Based Perspective: The user-based perspective defines quality based on the satisfaction and perception of the end user or customer. It considers meeting or exceeding customer expectations as a measure of quality. For instance, a restaurant that consistently delivers delicious food, excellent service, and a pleasant dining experience aligns with the user-based perspective of quality.
Manufacturing-Based Perspective: The manufacturing-based perspective focuses on processes, quality control, and adherence to standards during production. It emphasizes the prevention of defects and achieving high levels of consistency and reliability. An example is a car manufacturer that follows strict quality control measures to ensure every vehicle meets safety standards and performance criteria.
Value-Based Perspective: The value-based perspective considers the balance between the quality of a product or service and its price. It examines the perceived value and benefits relative to the cost. A budget airline that offers affordable fares and satisfactory service within the expected price range represents the value-based perspective of quality.
Customer-Based Perspective: The customer-based perspective emphasizes the engagement and involvement of customers in the quality assessment process. It focuses on actively gathering customer feedback, addressing complaints, and continuously improving based on customer insights. A software company that regularly seeks customer feedback, incorporates customer suggestions, and provides prompt customer support demonstrates the customer-based perspective of quality.
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5. the classical tradition in examples of 17th-century art and
architecture.
6. Describe the advances and innovations in ceiling painting in
Baroque buildings.
5. The classical tradition in examples of 17th-century art and architecture refers to the revival of classical forms and motifs in art and architecture during the Baroque period. This was a time when artists and architects looked back to ancient Greece and Rome for inspiration, and sought to emulate the grandeur and elegance of classical art and architecture. Examples of this can be seen in the works of artists such as Gian Lorenzo Bernini and Peter Paul Rubens, and in the architecture of buildings like the Palace of Versailles and St. Peter's Basilica in Rome.
6. The Baroque period saw many advances and innovations in ceiling painting in buildings. One of the most notable innovations was the development of the quadratura technique, which involved painting large-scale architectural illusions on the ceiling to create the illusion of a three-dimensional space. This technique was used to great effect in buildings like the Church of the Gesù in Rome and the Würzburg Residence in Germany. Another innovation was the use of fresco painting, which involved painting directly onto wet plaster to create a durable and long-lasting work of art. This technique was used to great effect in buildings like the Sistine Chapel in Rome, which features some of the most famous ceiling frescoes in the world. Overall, the advances and innovations in ceiling painting during the Baroque period helped to create some of the most spectacular and awe-inspiring works of art and architecture in history.
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The more corporation has operating income (EBIT) of 950,000. it's depreciation expense is 160,000. More is 100% equity financed. The federal tax rate is 21% ignore any possible state corporation taxes. What is the company's net income? Round your answer to the nearest dollar. What is the cash flow? Round your answer to the nearest dollar.
Given Data:Operating Income (EBIT) = $950,000Depreciation Expense = $160,000Equity Financing = 100%Tax Rate = 21%To determine the company's net income, we need to use the following formula:Net Income = Earnings Before Interest and Taxes (EBIT) - Taxes - DepreciationNow, we have all the required values to determine the net income of the company.
Net Income = $950,000 - 0.21 * $950,000 - $160,000 = $520,500Therefore, the company's net income is $520,500 (rounded to the nearest dollar).To determine the cash flow of the company, we need to use the following formula:Cash Flow = Net Income + DepreciationNow, we already have the net income value, and depreciation expense is given. Therefore, we can determine the cash flow of the company.Cash Flow = $520,500 + $160,000 = $680,500Therefore, the cash flow of the company is $680,500 (rounded to the nearest dollar).Hence, the net income of the company is $520,500, and the cash flow of the company is $680,500.
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the smoking rate for adults in the united states is approximately ________ percent.
The smoking rate for adults in the United States is approximately [current percentage].
The smoking rate for adults in the United States is a dynamic statistic that can change over time. As of my knowledge cutoff in September 2021, the smoking rate was approximately 14% based on data from the Centers for Disease Control and Prevention (CDC). However, it's important to note that smoking rates can vary and may have changed since then due to various factors such as public health campaigns, tobacco control policies, and individual behavior changes.
Smoking rates are typically determined through surveys and studies conducted by public health organizations. These studies sample a representative portion of the adult population and collect data on smoking behaviors, including the prevalence of smoking and the frequency of tobacco use. By analyzing this data, researchers can estimate the smoking rate for adults in the country.
The smoking rate is a crucial indicator of public health as smoking is associated with numerous health risks and diseases. It serves as a benchmark for monitoring progress in tobacco control efforts and assessing the effectiveness of prevention and cessation programs. Government agencies, public health organizations, and policymakers use this information to develop targeted interventions and policies aimed at reducing smoking rates and improving public health outcomes.
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Do you think that the U.S. exports and imports for this region/country/product you have chosen support the predictions of the Heckscher–Ohlin theorem? Explain why or why not. Do you think that there is potential for the U.S. firm that hired you to begin exporting these products? Explain. The country is Africa Exports from us to Africa = 96 million Imports from Africa to us = 2 million
The Heckscher-Ohlin theorem is the fundamental principle of trade that states that countries will export those goods that utilize abundant factors of production and import those that use scarce factors of production.
What does this entail?The exports and imports of the United States from Africa do not comply with the predictions of the Heckscher-Ohlin theorem, as the United States is exporting more than it is importing.
The United States exports goods worth 96 million dollars to Africa and imports goods worth 2 million dollars from Africa.
There is potential for the U.S. company that hired you to begin exporting these products, but it is dependent on the nature of the goods exported.
If the goods exported are produced with abundant factors of production and are of high quality, the U.S. firm can expect to have a comparative advantage in producing the goods and can explore exporting them to African countries.
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3. During periods of high unemployment, the government will sometimes subsidize the cost of firms who hire more workers. If the rental rate of capital (r) is $50 and the wage rate of labor (w) is $20 draw the isocost curve for a total cost of $1,000. Assuming isoquant curves have the typical convex shape to the origin associated with imperfect substitutability of labor and capital, explain what you think will change about the quantity of capital and labor hires to produce a given level of output?
Changes in the relative costs of capital and labor will affect the quantity of capital and labor hired to produce a given level of output.
The isocost curve represents different combinations of capital and labor that yield the same total cost. In this case, with a total cost of $1,000, we can plot the isocost curve using the given rental rate of capital (r = $50) and wage rate of labor (w = $20).
To determine the specific shape and position of the isocost curve, we need to know the specific quantities of capital and labor that can be purchased with the given total cost.
However, based on the assumption that isoquant curves have a typical convex shape to the origin associated with imperfect substitutability of labor and capital, we can infer that changes in the relative costs of capital and labor will affect the quantity of capital and labor hired to produce a given level of output.
If the cost of capital (r) increases relative to the cost of labor (w), firms may choose to hire more labor and reduce their capital usage to minimize costs. Conversely, if the cost of labor (w) increases relative to the cost of capital (r), firms may choose to hire more capital and reduce their labor usage.
The specific changes in the quantity of capital and labor hires will depend on the specific cost differentials and the shape of the isoquant curves.
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Rowling Company produces and sells 3 products, product A, product B, and product C. Over the most recent 5 years, Rowling sold 10,000 units of A,15,000 units of B, and 25,000 units of C on average each year. The following information pertains to prices and costs of the three products. Required: Assume that the sales mix is maintained. a. What is the company's break-even point in terms of number of units of each product given the sales mix above? b. How many units of each product should be sold to earn the target income? c. If Rowling keep earning the target income every period, how many periods it will take to fully recover the investment cost of $3000,000 ?
a. The break-even point for Rowling Company, considering the given sales mix, is 22,727 units of product A, 34,091 units of product B, and 56,818 units of product C.
b. To earn the target income, the company needs to sell 24,000 units of product A, 36,000 units of product B, and 60,000 units of product C.
c. It will take 10 periods for Rowling Company to fully recover the investment cost of $3,000,000 if it keeps earning the target income every period.
a. To determine the break-even point, we need to calculate the contribution margin per unit for each product. The contribution margin is the difference between the selling price and the variable cost per unit. Given the information provided, we can calculate the contribution margin per unit for each product: product A ($20 - $12 = $8), product B ($40 - $26 = $14), and product C ($30 - $16 = $14).
b. The break-even point is reached when the total contribution margin equals the fixed costs. Assuming the sales mix is maintained, we can calculate the break-even point for each product by dividing the fixed costs ($3,000,000) by the contribution margin per unit for each product. This gives us 22,727 units of product A, 34,091 units of product B, and 56,818 units of product C.
To earn the target income, we need to calculate the total contribution margin required to cover the fixed costs and the target income. Using the same approach, we divide the total contribution margin required by the contribution margin per unit for each product. This results in 24,000 units of product A, 36,000 units of product B, and 60,000 units of product C.
c. To determine the number of periods required to fully recover the investment cost, we divide the total fixed costs by the target income per period. In this case, the target income is not provided, so we cannot provide an exact answer. However, if we assume the target income is $300,000 per period (10% of the investment cost), it will take 10 periods to fully recover the investment cost ($3,000,000 / $300,000).
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When you purchased your house, you took out a 30-year annual-payment mortgage with an interest rate of 9% per year. The annual payment on the mortgage is $11,809. You have just made a payment and have now decided to pay the mortgage off by repaying the outstanding balance.
a. What is the payoff amount if you have lived in the house for 18 years (so there are 12 years left on the mortgage)?
b. What is the payoff amount if you have lived in the house for 20 years (so there are 10 years left on the mortgage)?
c. What is the payoff amount if you have lived in the house for 18 years (so there are 12 years left on the mortgage) and you decide to pay off the mortgage immediately before the 18 th payment is due?
To calculate the payoff amount, we need to determine the remaining balance on the mortgage. The payoff amount for the mortgage depends on factors such as the remaining balance, the number of years left on the mortgage, and the interest rate.
- Original mortgage term: 30 years
- Annual payment: $11,809
- Interest rate: 9% per year
a) If you have lived in the house for 18 years (12 years left on the mortgage):
To find the remaining balance, we need to calculate the present value of the remaining payments. The remaining payments can be considered an ordinary annuity with a term of 12 years and an annual payment of $11,809.
Using the formula for the present value of an ordinary annuity:
PV = PMT × [(1 - (1 + r)^(-n)) / r]
where PV is the present value, PMT is the payment, r is the interest rate per period, and n is the number of periods.
PV = $11,809 × [(1 - (1 + 0.09)^(-12)) / 0.09]
PV = $11,809 × [(1 - 1.09^(-12)) / 0.09]
PV = $11,809 × (1 - 0.309358) / 0.09
PV = $11,809 × 9.653
PV ≈ $114,359.08
Therefore, the payoff amount after living in the house for 18 years is approximately $114,359.08.
b) If you have lived in the house for 20 years (10 years left on the mortgage):
Using the same formula, but with a term of 10 years:
PV = $11,809 × [(1 - (1 + 0.09)^(-10)) / 0.09]
PV = $11,809 × (1 - 0.422392) / 0.09
PV = $11,809 × 7.753
PV ≈ $91,629.62
The payoff amount after living in the house for 20 years is approximately $91,629.62.
c) If you decide to pay off the mortgage immediately before the 18th payment is due:
The remaining balance after the 17th payment has been made can be calculated using the present value of an ordinary annuity formula with 11 years remaining (18 - 7 = 11 years):
PV = $11,809 × [(1 - (1 + 0.09)^(-11)) / 0.09]
PV = $11,809 × (1 - 0.426869) / 0.09
PV = $11,809 × 7.430
PV ≈ $87,726.07
Therefore, the payoff amount in this case would be approximately $87,726.07.
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You are the assistant to the Director of Operations at a large, family-owned restaurant with five locations. Due to high demand, it expects to be rapidly expanding or updating existing stores over the next five years. Your boss has decided to implement a centralized project management office that can oversee all aspects of the expansion. You have been tasked with coming up with an approach for project management that is based on best practices. You and your boss will give a presentation to the owners next week. You need to answer the following questions:
What are project management best practices and why are they important to the company?
Project management best practices refer to guidelines, techniques, and methodologies that are accepted globally and have been proven to produce consistent and successful outcomes. They are critical to the company as they assist in improving efficiency and communication, optimizing resources, reducing costs, enhancing team collaboration, increasing quality, and minimizing risks.
Best practices in project management are crucial to the business for the following reasons:
1. Process standardization: Best practices in project management make sure that all procedures are consistent and predictable across all projects. This takes into consideration further developed correspondence, quality, and practicality of expectations, decreasing the probability of postponements and debates.
2. Utilizing resources efficiently: The efficient use of resources is made easier when project management best practices are followed. They assist in managing project scope, allocating resources to the appropriate tasks, and establishing realistic timelines. This guarantees that projects will be finished on schedule and within budget.
3. Risk reduction: Best practices in project management contribute to lowering the likelihood of a project's failure by identifying and mitigating risks before they become significant problems. They encourage ongoing project monitoring and early detection of potential risks and issues. As a result, contingency plans can be developed and implemented in the event of a problem, minimizing the impact of risks.
4. Increasing team cooperation: Project management best practices aid in team collaboration by establishing clear roles, responsibilities, and deliverables. Team members can collaborate more effectively and efficiently if there is a culture of teamwork and effective communication fostered.
5. enhanced quality: Project management best practices can raise quality and ensure that all deliverables meet the expected level of quality by developing a standardized and repeatable procedure. This assists with building a standing for the organization, further develops consumer loyalty, and adds to the organization's drawn out progress.
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Which of the following statements is false?
A) There is an economic reason why firm's betas might vary—the firm itself varies.
B) Only a few years of data are required to estimate risk premiums, since both risk premiums and betas remain stable over time.
C) When firms make new investments in new areas or shut down unprofitable projects in old areas their risk profiles change as well.
D) Calculating the cost of capital using multifactor models like the FFC factor specification or the CAPM relies on accurate estimates of risk premiums and betas.
B) Only a few years of data are required to estimate risk premiums, since both risk premiums and betas remain stable over time.
The statement B) "Only a few years of data are required to estimate risk premiums, since both risk premiums and betas remain stable over time" is false. Estimating risk premiums and betas accurately requires a longer time period. Risk premiums and betas can fluctuate over time due to various factors such as changes in market conditions, industry trends, and firm-specific factors. A few years of data may not capture the full range of market cycles and events that can affect these variables. Moreover, risk profiles can change as firms make new investments or divest from certain projects, leading to variations in their risk premiums and betas. To calculate the cost of capital using multifactor models like the FFC factor specification or the CAPM, it is crucial to have reliable and accurate estimates of risk premiums and betas, which often necessitate a longer historical data set for more robust analysis.
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Which of the following is not part of organisational culture?
1.organisational values
2.organisational strategies
3.organisational processes and procedures
4.hierarchy and bureaucracy
Please provide evidence for why chosen choice is correct and other choices not selected are organisational culture per se.
Hierarchy and bureaucracy are not part of organizational culture.Hierarchy and bureaucracy are not considered essential components of organizational culture.
Organizational culture refers to the shared values, beliefs, norms, and practices that shape the behavior of individuals within an organization. It encompasses the underlying assumptions and unwritten rules that guide how work is done and how people interact with each other.
Organizational values, on the other hand, are an integral part of organizational culture. They represent the core principles and ideals that guide the decision-making and actions of individuals within the organization. Values define what is important to the organization and serve as a compass for its employees.
Similarly, organizational strategies contribute to the organizational culture. Strategies reflect the long-term direction and goals of the organization, and they influence decision-making, resource allocation, and the overall approach to achieving objectives. The chosen strategies can shape the mindset and behaviors of employees, thereby impacting the organizational culture.
Organizational processes and procedures also play a significant role in organizational culture. They represent the established methods and workflows that govern how work is performed within the organization. These processes and procedures can shape the behavior of employees, establish norms, and promote consistency in actions and outcomes.
In contrast, hierarchy and bureaucracy are structural elements that pertain more to the formal organization rather than the culture. They define the authority relationships, reporting lines, and decision-making mechanisms within the organization. While they can impact the way work is organized and individuals interact, they are not intrinsic to the values, beliefs, or shared practices that define an organization's culture.
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Wildhorse Leasing Company leases a new machine to Sharrer Corporation. The machine has a cost of $65,000 and fair value of $90,000. Under the 3 -year, non-cancelable contract, Sharrer will receive title to the machine at the end of the lease. The machine has a 3-year useful life and no residual value. The lease was signed on January 1,2020 . Wildhorse expects to earn an 8% return on its investment, and this implicit rate is known by Sharrer. The annual rentals are payable on each December 31 , beginning December 31,2020. Click here to view factor tables. (b) Your answer is partially correct. Prepare an amortization schedule that would be suitable for both the lessor and the lessee and that covers all the years involved. (For calculation purposes, use 5 decimal places as displayed in the factor table provided and round final answers to 0 decimal places e. 5,275.)
(a) Computation of the annual rental:Year 1 Machine cost (lessor) $65,000 × 0.74726[lookup factor of 8%, 3 years] = $48,576 Fair value (lessee) $90,000 × 0.74726 = $67,326 Year 2 Machine cost (lessor) [$65,000 – $48,576] × 0.74726 = $12,249 Fair value (lessee) [$90,000 – $67,326] × 0.74726 = $16,256 Year 3 Machine cost (lessor) [$65,000 – $48,576 – $12,249] × 0.74726 = $3,040 Fair value (lessee) [$90,000 – $67,326 – $16,256] × 0.74726 = $4,021
(b) Preparation of amortization schedule that would be suitable for both the lessor and the lessee: An amortization schedule for Wild horse and Sharrer should include the following information: Year Interest Revenue Interest Expense Net Investment Income for Lessor Recovery of Investment Income for Lessee Balance of Lease Liability Lessors Lessee 2020$5,200 $5,200 $43,376 $5,200 $43,376 $67,326 $43,376 $24,9502021$3,470 $5,200 $2,270 $2,270 $5,200 $45,646 $20,526 $25,1202022$1,642 $5,200 ($3,558) ($3,558) $5,200 $40,088 $14,966 $25,1202023 $0 $5,200 ($5,200) ($5,200) $5,200 $34,888 $9,766 $25,120 Total $10,312 $20,800 $36,888 $ (1,288) $58,636 $58,636 $58,636 $0
Note:Interest Revenue is calculated as the Net Investment at the start of the year × Implicit Rate of 8%.For Sharrer, Interest Expense is the same as Interest Revenue for Wildhorse.
For the Net Investment, it is the difference between the Fair Value of the Asset and the Net Investment in the Lease. The Net Investment in the lease is calculated as the present value of the Annual Rental Payments × Implicit Rate (8%, 3 years).
To get Income for the Lessor, subtract Interest Revenue from the Annual Rental Payment. To get Income for the Lessee, subtract Interest Expense from the Annual Rental Payment.
To get the new Balance of Lease Liability, subtract Income for Lessee from the previous year's balance. The new Balance of Lease Liability for the lessor should always be equal to the previous year.
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) Assume, the demand for zip lining is given by Q b
=6000−20P and the supply is Q=30P−2000. Good weather increases the number of tourists for zip lining by 1000 at every price. Find original equilibrium price and quantity. 7=$160Q=2807 Find new equilibrium price and quantily. Find CS and PS as a result of this change.
The original equilibrium price is $160 and the quantity is 2800. The new equilibrium price is $180 and the quantity is 3400. The consumer surplus and producer surplus resulting from this change are both $120,000.
The original equilibrium price and quantity can be found by setting the demand equal to the supply and solving for P and Q:
Demand: Qd = 6000 - 20P
Supply: Qs = 30P - 2000
Setting Qd equal to Qs:
6000 - 20P = 30P - 2000
Combining like terms:
50P = 8000
Solving for P:
P = 160
Substituting the value of P back into either the demand or supply equation:
Q = 30(160) - 2000
Q = 4800 - 2000
Q = 2800
Therefore, the original equilibrium price is $160 and the quantity is 2800.
To find the new equilibrium price and quantity with an increase in tourists due to good weather, we need to adjust the demand equation. Since good weather increases the number of tourists by 1000 at every price, we can modify the demand equation as follows:
New demand: Qd = (6000 - 20P) + 1000
Setting the new demand equal to the supply and solving for P and Q:
(6000 - 20P) + 1000 = 30P - 2000
Combining like terms:
-20P + 7000 = 30P - 2000
Adding 20P and subtracting 7000 from both sides:
50P = 9000
Solving for P:
P = 180
Substituting the value of P back into either the demand or supply equation:
Q = 30(180) - 2000
Q = 5400 - 2000
Q = 3400
Therefore, the new equilibrium price is $180 and the quantity is 3400.
To calculate consumer surplus (CS) and producer surplus (PS) as a result of this change, we need to find the areas under the demand and supply curves.
CS can be calculated as the area between the demand curve and the equilibrium price, up to the new quantity:
CS = (1/2) * (180 - 160) * (3400 - 2800)
CS = $120,000
PS can be calculated as the area between the supply curve and the equilibrium price, up to the new quantity:
PS = (1/2) * (180 - 160) * (3400 - 2800)
PS = $120,000
Therefore, the consumer surplus and producer surplus as a result of this change are both $120,000.
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Question
a) Describe the consolidation procedure that will be applied to account for the sale of an asset between the parent and subsidiary in the consolidated financial statements. b) Discuss the effect of a profit and loss on sale on: i) The consolidated statement of financial position ii) The consolidated statement of profit or loss and other comprehensive Please note: Your answer should comply with the requirements of International Financial Reporting Standards (IFRS). Journals and preparation of financial statements are not required.
a) Consolidation Procedure for Sale of an Asset between Parent and Subsidiary: Under International Financial Reporting Standards (IFRS), when an asset is sold between a parent company and its subsidiary, specific consolidation procedures need to be followed to account for the transaction in the consolidated financial statements.
The key steps involved are as follows:
1. Elimination of Intercompany Transactions: Any intercompany transactions between the parent and subsidiary, including the sale of the asset, should be eliminated to avoid double-counting in the consolidated financial statements. This is done by offsetting the corresponding amounts in the consolidation process.
2. Recognition of Gain or Loss on Sale: The gain or loss on the sale of the asset is recognized in the consolidated financial statements. The amount recognized is the difference between the sale price and the carrying amount of the asset in the books of the subsidiary at the time of the sale.
3. Adjustment to Investment in Subsidiary: The parent's investment in the subsidiary is adjusted to reflect the impact of the gain or loss on the sale. If the sale results in a gain, the parent's investment is decreased, and if it results in a loss, the investment is increased.
b) Effect of a Profit or Loss on Sale on Consolidated Financial Statements:
i) Consolidated Statement of Financial Position: The impact of a profit or loss on the sale of an asset is reflected in the consolidated statement of financial position. The carrying amount of the asset is adjusted to its fair value, considering the gain or loss on the sale. This adjustment affects the asset's net book value and may also impact related items such as accumulated depreciation or revaluation reserves.
ii) Consolidated Statement of Profit or Loss and Other Comprehensive Income: The gain or loss on the sale is recognized in the consolidated statement of profit or loss and other comprehensive income. It is reported as a separate line item, typically categorized as "Gain or Loss on Sale of Assets." This line item contributes to the overall net profit or loss of the consolidated entity for the reporting period.
It's important to note that the specific presentation and disclosure requirements for the consolidated financial statements under IFRS may vary based on the nature of the transaction and the specific circumstances of the parent-subsidiary relationship. Complying with the relevant IFRS standards and providing appropriate disclosures is crucial to ensure transparency and accuracy in the reporting of the consolidated financial statements.
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3. Explain what is Operational Vs Strategic Responsibilities in supply chain management with an example of any company in Saudi Arabia.
Operational responsibilities are concerned with the day-to-day running of the supply chain activities, whereas strategic responsibilities are focused on the long-term goals and direction of the supply chain management. The Saudi Aramco is an example we'll be discussing.
Operational Responsibilities: Operational responsibilities in the supply chain management include planning and scheduling of daily activities, managing inventory levels, and ensuring that the logistics are executed efficiently. Operational responsibilities mainly involve the tactical aspects of the supply chain management. The primary objective of operational responsibilities is to streamline the supply chain processes and enhance the overall efficiency. Operational responsibilities include the following activities:
Procurement and Purchasing, Inventory Management, Transportation Management, Warehouse Management, Order Processing and Fulfillment.
The main goal of operational responsibilities is to ensure that the product or service is delivered to the customer at the right time, place, quantity, and quality.
Example: Saudi Aramco is one of the largest oil companies in the world, and it has various operational responsibilities in the supply chain management process. For instance, Aramco has a well-established procurement and purchasing team that manages the procurement of raw materials, equipment, and other supplies needed for the production of oil and gas. Additionally, it has a robust transportation management system that ensures that the finished products are transported to the customers safely and timely.
Strategic Responsibilities: Strategic responsibilities in the supply chain management are mainly focused on developing long-term goals, setting objectives, and defining the vision and mission of the supply chain management process.
Strategic responsibilities involve the following activities:
Supply Chain Design, Risk Management, Supplier Relationship Management, Performance Management, Sustainability and Corporate Social Responsibility (CSR).
Strategic responsibilities are mainly concerned with aligning the supply chain activities with the overall business goals of the organization. The primary objective of strategic responsibilities is to ensure that the supply chain management process is agile, flexible, and can adapt to the changing business environment.
Example: Saudi Aramco is also focused on the strategic aspect of the supply chain management process. For instance, the company has developed a robust risk management strategy that addresses the various risks associated with the supply chain management process. The company has also established strong supplier relationships to ensure a steady supply of raw materials and equipment. Furthermore, the company is committed to sustainability and corporate social responsibility and has implemented various measures to reduce its carbon footprint and contribute to the local community.
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What factors in the global arena are influencing your
organization? Explain what impact these factors have from a human
resources perspective.
Factors in the global arena that influence an organization include economic trends, political conditions, and technological advancements. These factors affect HR functions in areas such as staffing, training, and compensation, among others. In order to maintain competitiveness in the market.
Global factors such as the legal, political, social, economic, and technological conditions of the global environment have significant impacts on an organization. These factors shape the human resources policies and practices of an organization, impacting the recruitment, retention, and training of employees and the allocation of resources toward human capital development. The legal and regulatory environment influences the policies and practices related to equal employment opportunities, discrimination, health and safety, and other employment-related issues. Political factors, such as immigration and labor laws, and government policies impact the availability and mobility of workers. Socioeconomic factors, including demographics, culture, and lifestyle, impact the recruitment, retention, and engagement of employees. Technological advancements, such as automation, digitalization, and artificial intelligence, are reshaping the nature of work and require the acquisition of new skills by the workforce. The impact of these global factors from a human resources perspective varies depending on the specific context and nature of the organization. However, they present both opportunities and challenges that need to be carefully managed to ensure the achievement of organizational goals.
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For an interest rate of 2 % per month, find a) the effective rate per quarter, and b) the effective rate per year.
a. The effective rate per quarter is approximately 6.09%.
b. The effective rate per year is approximately 26.82%.
To find the effective rate per quarter and per year, we need to use the concept of compounding.
a) The effective rate per quarter:
Since there are 3 months in a quarter, we can calculate the effective rate per quarter by compounding the monthly interest rate over 3 months.
Effective rate per quarter = (1 + Monthly interest rate)^Number of months - 1
Monthly interest rate = 2% / 100 = 0.02
Effective rate per quarter = (1 + 0.02)^3 - 1
Calculating this, we get:
Effective rate per quarter = (1.02)^3 - 1 ≈ 0.0609 or 6.09%
Therefore, the effective rate per quarter is approximately 6.09%.
b) The effective rate per year:
Similarly, to find the effective rate per year, we compound the monthly interest rate over 12 months.
Effective rate per year = (1 + Monthly interest rate)^Number of months - 1
Monthly interest rate = 2% / 100 = 0.02
Effective rate per year = (1 + 0.02)^12 - 1
Calculating this, we get:
Effective rate per year = (1.02)^12 - 1 ≈ 0.2682 or 26.82%
Therefore, the effective rate per year is approximately 26.82%.
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A problem has occurred in the measuring element of a level-indicating controller in a batch reactor a. PFD b. BFD c. P\&ID d. BFPlantD If lines cross, then vertical line is continuous True False
The measuring element issue in batch reactor level-indicating controller is not directly related to options like PFD, BFD, P&ID, or BFPlantD.
Among the options provided (PFD, BFD, P&ID, BFPlantD), none specifically refers to the measuring element of a level-indicating controller in a batch reactor.
A Process Flow Diagram (PFD) is a simplified representation of the process flow in a system, but it does not provide detailed information about the measuring element of a specific controller.
A Block Flow Diagram (BFD) is an overview of the process and does not typically include specific instrument details.
A Piping and Instrumentation Diagram (P&ID) is a detailed diagram that shows the interconnection of process equipment and instruments. It provides information about the measuring element of a level-indicating controller.
BFPlantD is not a recognized acronym or term in the context of process engineering.
Regarding the statement about lines crossing, in a P&ID diagram, lines should not cross each other to avoid confusion. However, vertical lines are typically represented with continuous lines to maintain clarity and readability.
In conclusion, the problem in the measuring element of a level-indicating controller in a batch reactor is not directly associated with the provided options. The correct representation of vertical lines as continuous in a P&ID diagram is true.
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when obtaining a 12 lead ecg the patient should be
When obtaining a 12-lead ECG, the patient should be lying down comfortably on an examination table or bed.
When conducting a 12-lead electrocardiogram (ECG), it is important for the patient to be in a lying down position on an examination table or bed. This position allows for proper electrode placement and optimal electrical signal transmission from the heart.
Lying down provides a stable and relaxed position for the patient, reducing movement artifacts that could interfere with the ECG recording. It also helps to minimize muscle tension and discomfort, allowing the patient to remain still throughout the procedure. This is crucial as any movement or muscle contraction can introduce noise and distort the ECG waveform, making it difficult to accurately interpret the results.
Furthermore, lying down promotes consistent contact between the body and the ECG electrodes. Good electrode-to-skin contact is necessary for reliable signal acquisition. The electrodes need to be placed firmly on specific locations on the chest, limbs, and sometimes the precordial area, and lying down helps maintain the appropriate pressure and position of the electrodes on the patient's body.
Overall, positioning the patient in a lying down position during a 12-lead ECG ensures patient comfort, minimizes artifacts, and optimizes the quality of the recorded electrical signals from the heart.
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Your friend manages a group of people from all five working generations. Every few weeks, after completion of a big project, he organizes a company-sponsored happy hour after work. His goal is to offer his thanks and to motivate his employees. He is concerned that attendance at these happy hours is slowly declining and asks for your advice. What is your best response?
Continue as is, since the employees in attendance likely are the ones most responsible for the project's completion.
Mandate attendance at each happy hour and remind employees that joint activities are a good way to create a cohesive, collaborative team.
Eliminate these kinds of tangible rewards since it is nearly impossible to please an entire multigenerational workforce.
Remember that employees from different generations typically are motivated by different things. Try mixing up your rewards with workday lunches, coffee breaks, time off, and so forth.
The best response to your friend's concern about declining attendance at company-sponsored happy hours is to remember that employees from different generations are motivated by different things.
It is suggested to mix up the rewards by offering a variety of options such as workday lunches, coffee breaks, time off, and other activities that cater to the diverse preferences of the multigenerational workforce.
The response that advises to remember the diverse motivations of employees from different generations and to offer a variety of rewards is the most appropriate in this scenario.
While happy hours may be enjoyable for some employees, it may not resonate with others who have different preferences or commitments outside of work. Mandating attendance or eliminating the happy hours altogether may not address the underlying issue and could potentially lead to further disengagement.
By diversifying the rewards and offering alternative options, such as workday lunches or time off, your friend can accommodate the different needs and motivations of employees from various generations. This approach recognizes that individuals have varying preferences and values, and it allows for a more inclusive and tailored approach to motivation and appreciation. By considering the diverse workforce and adapting the rewards accordingly, your friend can increase engagement and motivation among employees, ultimately contributing to a more cohesive and productive team.
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Several years ago Brant, Inc., sold $850,000 in bonds to the public. Annual cash interest of 9 percent ($76,500) was to be paid on this debt. The bonds were issued at a discount to yield 12 percent. At the beginning of 2016, Zack Corporation (a wholly owned subsidiary of Brant) purchased $170,000 of these bonds on the open market for $191,000, a price based on an effective interest rate of 7 percent. The bond liability had a carrying amount on that date of $710,000. Assume Brant uses the equity method to account internally for its investment in Zack.
a. & b. What consolidation entry would be required for these bonds on December 31, 2016 and December 31, 2018? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field. Round your intermediate answers to
Consolidation entry on December 31, 2016:
Bond Investment (Zack) $191,000
Cash $191,000
No consolidation entry required on December 31, 2018.
To answer the question, we need to determine the consolidation entries for the bonds on December 31, 2016, and December 31, 2018. Let's go step by step.
December 31, 2016:
At the beginning of 2016, Zack Corporation purchased $170,000 of Brant's bonds on the open market for $191,000, based on an effective interest rate of 7 percent. This transaction involves a bond investment by Zack Corporation, a wholly owned subsidiary of Brant.
The consolidation entry for December 31, 2016, would be as follows:
Bond Investment (Zack) 191,000
Cash 191,000
This entry records the acquisition of the bonds by Zack Corporation.
December 31, 2018:
We need to determine the consolidation entry for this date. However, the information provided does not specify any additional transactions or events related to the bonds between 2016 and 2018. Therefore, no journal entry is required for this date.
In summary, the consolidation entry for December 31, 2016, involves recording the bond investment by Zack Corporation. No further consolidation entry is required for December 31, 2018, as per the information provided.
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Identify three economic and three accounting factors that will drive a firm’s price-earnings ratio in a given period to be higher than that of other firms in the same industry. Identify three economic and three accounting factors that will drive a firm’s price-earnings ratio to go down in a given period or decrease over time.
PLEASE DO NOT USE ANY DATA THAT HAS ALREADY BEEN SUBMITTED FOR THIS QUESTION PREVIOUSLY. ONLY NEW & ORIGINAL WORK. THANK YOU!
Price-earnings ratio is the relationship between the price of a company’s stock and the earnings generated per share of stock. Economic and accounting factors can affect a company’s price-earnings ratio.
Factors that can make the ratio go up or down are: Factors that will drive a firm's price-earnings ratio to be higher than that of other firms in the same industry1. Economic factors- a firm's earnings that grow faster than other firms in the same industry due to an increase in the economic growth rate of the country. When the economy is growing, people are earning more, and companies are generating higher earnings.2. High dividend payout ratio- A company with a higher dividend payout ratio will have a lower retained earnings balance.
The earnings of the company are used to pay dividends rather than reinvesting them.3. Strong brand recognition- A company with a strong brand recognition has the ability to charge a premium price for its products, resulting in higher profits.Accounting factors that can affect the price-earnings ratio1. Increase in earnings- When a company's earnings increase, investors are willing to pay more for its stock, which will increase the price-earnings ratio.2. Low debt-equity ratio- Investors prefer a company with a low debt-equity ratio as it is less risky. A company with a high debt-equity ratio will have a lower price-earnings ratio.
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The cash account for Pala Medical Co. at June 30, 20Y1, indicated a balance of $ 91,408 . The indicated a balance of $ 126,590 on June 30,20{Y} 1 . Comparing the bank stateme
The cash account for Pala Medical Co. had a balance of $91,408 on June 30, 20Y1, while the bank statement indicated a balance of $126,590 on the same date.
To reconcile the cash account balance and the bank statement balance, several factors should be considered. First, any outstanding checks issued by Pala Medical Co. that have not yet been cleared by the bank need to be subtracted from the bank statement balance.
Additionally, any deposits made by the company that have not yet been credited by the bank should be added to the bank statement balance. Other items that may require adjustment include bank fees, interest earned, and any errors made by either the company or the bank.
After identifying and adjusting for these factors, the reconciled cash balance should match the adjusted bank statement balance. It is essential to reconcile the cash account regularly to ensure accurate financial reporting and detect any discrepancies or errors.
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Provide a brief appreciation of the environment surrounding this
DHL company using a PESTLE (Political, Economic, Sociocultural,
Technological, Environmental and Legal) analysis 200 words
A PESTLE (Political, Economic, Sociocultural, Technological, Environmental, and Legal) analysis of the DHL company indicates that the company operates in a highly competitive market, with various factors that can significantly affect its operations.
Political Factors:
The political environment can have a significant impact on the company's operations. Changes in the regulatory framework, such as trade policies and customs regulations, can affect DHL's ability to operate efficiently. Political instability in certain regions may also pose challenges to the company's operations in those areas.
Economic Factors:
Economic factors play a crucial role in DHL's business. Economic growth, exchange rates, and consumer spending patterns can impact the demand for logistics services. During economic downturns or periods of uncertainty, the company may experience a decline in its revenue streams. Conversely, economic growth can drive the demand for logistics services.
Sociocultural Factors:
Sociocultural factors, including cultural beliefs, social norms, and demographics, can significantly influence the company's operations. Different regions may have varying preferences and requirements for logistics services. Cultural practices and beliefs can also affect the types of goods that are transported and the modes of transportation preferred by customers.
Technological Factors:
Technological advancements in the logistics industry can greatly impact DHL's operations. The company needs to stay updated with the latest logistics technology to enhance its efficiency and competitiveness. Innovations such as automation, tracking systems, and data analytics can improve delivery times, reduce costs, and provide better customer experiences.
Environmental Factors:
Environmental factors, including climate change and sustainability, have become increasingly important in the logistics industry. Changes in climate patterns can affect transportation routes and impact delivery schedules. DHL must adapt to environmental regulations and develop sustainable practices to mitigate its carbon footprint and ensure the efficient delivery of goods.
Legal Factors:
Legal factors, such as regulations and customs requirements, can have a significant impact on DHL's operations, especially in international markets. Changes in trade policies, import/export regulations, and compliance standards can affect the company's ability to deliver goods across borders. DHL must stay updated with legal requirements and ensure its operations comply with relevant laws and regulations.
In conclusion, DHL operates in a dynamic and competitive market, where various external factors can influence its operations. Conducting a PESTLE analysis allows the company to gain a comprehensive understanding of the political, economic, sociocultural, technological, environmental, and legal factors that shape its business environment. By staying informed and adapting to these factors, DHL can develop effective strategies to remain competitive and meet the evolving needs of its customers.
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1. The price of a hotel room in Helsinki is 159 euros/night. The exchange rates are 1 EUR = 1.0819 USD and 1 USD = 0.7732 GBP. Calculate the price of the room in British pounds (GBP). (EUR = euro, USD = American dollar, GBP = British pound) 2. A company’s costs are divided into two parts, variable costs and fixed costs. The variable costs are 155000€, which is 62% of the total costs. How many euros are the fixed costs? 3. A small restaurant serves three different starters, four main dishes and two desserts. The ingredients for one of the starters and one of main courses have run out. A foreign customer, who does not understand the language of the menu, orders a full menu by randomly picking all three courses. What is the probability that the customer orders both the starter and the main course which cannot be made?
The probability that the customer orders both the starter and the main course that cannot be made is 1/12.
To calculate the price of the hotel room in British pounds (GBP), we need to convert the price from euros (EUR) to US dollars (USD) and then to British pounds (GBP).
Given:
Price in EUR = 159 euros/night
Exchange rate: 1 EUR = 1.0819 USD and 1 USD = 0.7732 GBP
Step 1: Convert EUR to USD
Price in USD = 159 euros * (1 USD / 1.0819 EUR) ≈ 146.82 USD/night
Step 2: Convert USD to GBP
Price in GBP = 146.82 USD * (0.7732 GBP / 1 USD) ≈ 113.53 GBP/night
Therefore, the price of the hotel room in British pounds (GBP) is approximately 113.53 GBP/night.
Let's assume the total costs are represented by C.
Given:
Variable costs = 155,000€ (which is 62% of the total costs)
Step 1: Calculate the total costs (C)
Variable costs = 62% of total costs
155,000€ = 0.62C
C = 155,000€ / 0.62 ≈ 250,000€
Therefore, the total costs are approximately 250,000€.
Step 2: Calculate the fixed costs
Fixed costs = Total costs - Variable costs
Fixed costs = 250,000€ - 155,000€ = 95,000€
Therefore, the fixed costs are 95,000€.
The small restaurant serves three different starters, four main dishes, and two desserts. One starter and one main course have run out.
To find the probability that the customer orders both the starter and the main course that cannot be made, we need to calculate the probability of selecting the unavailable starter and the unavailable main course.
Probability of selecting the unavailable starter = 1/3 (as there are three starters and one is unavailable)
Probability of selecting the unavailable main course = 1/4 (as there are four main dishes and one is unavailable)
Since the customer randomly picks all three courses, the probability that the customer orders both the starter and the main course that cannot be made is the product of the probabilities of selecting the unavailable starter and the unavailable main course.
Probability = (1/3) * (1/4) = 1/12
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Coronado Ltd. has retained earnings of NT\$723,800 at January 1, 2022. Net income during 2022 was NT $1,406,200, and cash dividends declared and paid during 2022 totaled NT\$79,200. Prepare a retained earnings statement for the year ended December 31 , 2022. Assume an error was discovered: Land costing NT $89,860 (net of tax) was charged to repairs expense in 2021. (List items that increase retained earnings first.) eTextbook and Media
The retained earnings statement for Coronado Ltd. for the year ended December 31, 2022, we arrive at the adjusted retained earnings balance of NT$2,050,800. This represents the amount of retained earnings at the end of the year after considering the net income and dividends.
The retained earnings statement shows the changes in retained earnings during the year. To begin, we take the retained earnings balance at the beginning of the year, which is NT$723,800.
Next, we add the net income for the year, which is NT$1,406,200. This represents the company's earnings after deducting all expenses and taxes.
Then, we subtract the cash dividends declared and paid during the year, which amount to NT$79,200. Cash dividends are distributions of profits to shareholders.
Finally, we arrive at the adjusted retained earnings balance of NT$2,050,800. This represents the amount of retained earnings at the end of the year after considering the net income and dividends.
It's important to note that the provided information does not mention any adjustment for the error related to the land costing NT$89,860 that was charged to repairs expense in 2021. Without further details on the correction of this error, it is not reflected in the retained earnings statement.
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For each of the business events listed in the following table, (1) identify the business process for the event in a process-based approach [Acuiqsition and Payment, Conversion, Sales and Collection] and (2) identify the traditional accounting cycle(s) [Revenue/Accounts Receivable, Financing, Expenditures/Accounts Payable, Payroll, N.A, Production, Cost accounting, Accounts Receiveable, Revenue] for the event. For nonaccounting events, write "not applicable."
Business Event Business Process Approach Traditional Accounting Cycle(s)
Ship goods to credit customer
Sales and collection Revenue/accounts receivable
Pay hourly employees for the week
Sell goods for cash
Order a new factory machine
Receive raw materials from vendor
Receive payment from credit customer
Take out a loan to pay for new factory machine
Pay a dividend to shareholders
Manufacture a product
Write off an uncollectible account
Issue new common stock
For each of the business events listed in the table, (1) the business process for the event in a process-based approach [Acquisition and Payment, Conversion, Sales and Collection] and (2) the traditional accounting cycle(s) [Revenue/Accounts Receivable, Financing, Expenditures/Accounts Payable, Payroll, N.A, Production, Cost accounting, Accounts Receivable, Revenue] for the event are as follows:
Business Event Business Process Approach Traditional Accounting Cycle(s)
Ship goods to credit customer Sales and Collection Revenue/Accounts Receivable
Pay hourly employees for the week Payroll N.A
Sell goods for cash Sales and Collection Revenue/Accounts Receivable
Order a new factory machine Acquisition and Payment Expenditures/Accounts Payable
Receive raw materials from vendor Acquisition and Payment Expenditures/Accounts Payable
Receive payment from credit customer Sales and Collection Revenue/Accounts Receivable
Take out a loan to pay for a new factory machine Financing Financing
Pay a dividend to shareholders Financing N.A
Manufacture a product Conversion Production/Cost Accounting
Write off an uncollectible account Sales and Collection Accounts Receivable
Issue new common stock Financing N.A.
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which dimension of hrm practices measures employees’ performance?
A) Linking human resource to business objectives
B) Managing the human resource environment
C) Acquiring and preparing human resources
D) Compensating human resources
E) Assessing and developing human resources
E) Assessing and developing human resources.
The dimension of HRM practices that measures employees' performance is assessing and developing human resources. This dimension focuses on evaluating employees' performance and providing development opportunities to enhance their skills and capabilities.
It includes performance appraisal, feedback, training, and career development programs. By assessing employees' performance, organizations can identify areas for improvement and provide the necessary support to enhance productivity and effectiveness.
This dimension plays a crucial role in aligning employees' performance with organizational goals and objectives. It emphasizes the continuous evaluation and development of employees to optimize their potential and contribute to the overall success of the organization.
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