The Four Pillars of SMS refers to the four elements that make up a successful SMS (Safety Management System). The four pillars include Safety Policy, Risk Management, Safety Assurance, and Safety Promotion.
Safety Policy: This pillar of SMS is responsible for establishing the policies and procedures that an organization will use to achieve its safety goals.
Risk Management: This pillar of SMS is responsible for identifying and assessing the hazards, risks, and safety issues associated with the organization's operations.
Safety Assurance: This pillar of SMS is responsible for ensuring that the safety policies and procedures are being followed, and the risk controls are working effectively.
Safety Promotion: This pillar of SMS is responsible for promoting safety awareness and training to all stakeholders. This involves developing training programs, promoting safety culture, ensuring open communication channels, and encouraging a proactive and predictive approach to safety management. In conclusion, the Four Pillars of SMS provide a structured and systematic approach to risk management.
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What is the purpose of charging depreciation in financial statements?
A To allocate the cost of a non-current asset over the accounting periods expected to benefit from its use
B To ensure that funds are available for the eventual replacement of the asset
C To reduce the cost of the asset in the statement of financial position to its estimated market value
D To account for the 'wearing-out' of the asset over its life
The purpose of charging depreciation in financial statements is to allocate the cost of a non-current asset over the accounting periods expected to benefit from its use. This is done because the asset will lose value over time due to wear and tear, obsolescence, or other factors. By charging depreciation, the company can match the cost of the asset against the revenue it generates over its useful life.
The correct answer is A.
The other options are incorrect because:
Option B: Depreciation does not ensure that funds are available for the eventual replacement of the asset. This is because depreciation is an expense, and expenses do not necessarily generate cash.
Option C: Depreciation does not reduce the cost of the asset in the statement of financial position to its estimated market value. The cost of the asset remains the same on the balance sheet, but the asset's value is reduced by the amount of depreciation expense each year.
Option D: Depreciation does not account for the 'wearing-out' of the asset over its life. Depreciation is a method of allocating the cost of an asset over its useful life, regardless of whether the asset is actually wearing out.
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What would be a better theory or model that can be used to come
up with a solution that would be fair and equitable to both
employees and employers?
To solve the problem that could be fair and equitable to both employees and employers, equity theory is an improved theory. When the outcomes of their own work are compared to the outcomes of other people's work, equity theory argues that people's behavior is influenced by their perceived level of equity or inequity.
Equity theory is a better model than distributive justice for coming up with a solution that is fair and equitable to both employees and employers. When the outcomes of their own work are compared to the outcomes of other people's work, equity theory argues that people's behavior is influenced by their perceived level of equity or inequity.
Employees frequently make comparisons between their efforts and those of others in the workplace, particularly those in similar positions. The fairness of employees' salaries, promotions, and rewards is determined by how much they perceive themselves to be in comparison to others. Employers may utilize this concept to better comprehend employees' demands and satisfy their demands in a fair and equitable manner.
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"Can someone help please?
Measurement is:
A) the same as evaluation.
B) everything the researcher does to arrive at the numerical estimate.
C) collecting data through a questionnaire, or counting the number of instances a particular event occurs.
D) the same as interpretation.
E) identifying variables as independent or dependent."
The statement that best defines the meaning of measurement is "B) everything the researcher does to arrive at the numerical estimate."
What is measurement?
Measurement refers to the quantification of attributes or variables and it is an essential component of research methodology. It is a technique used to collect data and offers a systematic way of measuring different variables so that outcomes can be contrasted and generalizations can be made.The statement that best defines the meaning of measurement is "B) everything the researcher does to arrive at the numerical estimate." There are various techniques used by researchers to collect data, and measurement is the process of using various tools and instruments to arrive at a numerical estimate or a quantitative representation of the attributes of an object.
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Question 1 Which of the following is NOT true about the introductory stage of the industry life cycle? a. The overall objective is to defend market share as market size and competition increases b. Market growth rate at this stage is very low c. Major functional area of concern in the introduction stage is R&D d. Number of segments are very few because the market is not fully developed
The answer to the given question is B. Market growth rate at this stage is very low. The introductory stage of the industry life cycle is the first stage of the product's life cycle.
During this stage, the product is introduced to the market. The major focus in the introduction stage of the industry life cycle is on the research and development (R&D) of the product to ensure its market viability and acceptability.
The number of segments in the introduction stage is very few because the market is not fully developed. The overall objective in the introductory stage is to defend market share as market size and competition increases and make the product known to the market and make customers aware of its benefits so that they can be persuaded to buy it. This stage is the most expensive for the company as it involves the development and marketing of the product.
Thus, during the introductory stage, the market growth rate is high as it is in the growth stage, but the market growth rate at this stage is not very low. Therefore, option B is not true about the introductory stage of the industry life cycle.
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Managers at Wilson Company investigate budget overruns that appear to be significant. What principle is being followed? Select the correct answer. incremental analysis small amounts don't matter handling by exception you get what you measure
The principle that is being followed when managers at Wilson Company investigate budget overruns that appear to be significant is "handling by exception."Handling by exception refers to the practice of focusing management attention only on deviations from standard or expected results that are significant.
This approach enables managers to avoid being bogged down by trivial issues while still identifying areas that require further investigation or attention.In the context of budgeting, handling by exception involves setting a standard budget and then comparing actual results against that budget. If the actual results deviate significantly from the budget, then management focuses its attention on the reasons for the deviation, identifies corrective actions, and implements them.
In conclusion, managers at Wilson Company are following the principle of handling by exception when they investigate budget overruns that appear to be significant. This principle enables them to focus their attention on deviations from expected results that are significant and take appropriate corrective actions.
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cord credit Sales) Cash 763,000 …View the full answer
answer image blur
Transcribed image text: E8-3 At the beginning of the current period, Rose Corp. had balances in Accounts Receiv- able of $200,000 and in Allowance for Doubtful Accounts of $9,000 (credit). During the period, it had net credit sales of $800,000 and collections of $763,000. It wrote off as uncol- lectible accounts receivable of $7,300. However, a $3,100 account previously written off as uncollectible was recovered before the end of the current period. Uncollectible accounts are estimated to total $25,000 at the end of the period. (Omit cost of goods sold entries.) Instructions (a) Prepare the entries to record sales and collections during the period. (b) Prepare the entry to record the write-off of uncollectible accounts during the period. (c) Prepare the entries to record the recovery of the uncollectible account during the period. (d) Prepare the entry to record bad debt expense for the period. (e) Determine the ending balances in Accounts Receivable and Allowance for Doubtful Accounts. (f) What is the net realizable value of the receivables at the end of the period?
The entries to record sales and collections during the period are: Accounts Receivable $800,000 Sales $800,000 Cash $763,000 Accounts Receivable $763,000 The entry to record the write-off of uncollectible accounts during the period is: Allowance for Doubtful Accounts $7,300 Accounts Receivable $7,300
The entries to record the recovery of the uncollectible account during the period are: Accounts Receivable $3,100
Allowance for Doubtful Accounts $3,100Cash $3,100Accounts Receivable $3,100 The entry to record bad debt expense for the period is: Bad Debt Expense $25,800Allowance for Doubtful Accounts $25,800
The ending balances in Accounts Receivable and Allowance for Doubtful Accounts are: Accounts Receivable = $195,800 ($200,000 + $800,000 - $763,000 - $7,300 + $3,100)Allowance for Doubtful Accounts = $25,800 ($9,000 + $25,800 - $7,300) .The net realizable value of the receivables at the end of the period is: $170,000 ($195,800 - $25,800)
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You've observed the following returns on Pine Computer's stock over the past five years: -29.1 percent, 16.4 percent, 35.8 percent, 3.7 percent, and 22.7 percent.
a. What was the arithmetic average return on the stock over this five-year period?
Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.
b. What was the variance of the returns over this period?
Note: Do not round intermediate calculations and round your answer to 6 decimal places, e.g., .161616.
c. What was the standard deviation of the returns over this period?
Note: Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16.
a. Arithmetic average return______%
b. Variance________
c. Standard deviation_________%
a. The arithmetic average return on Pine Computer's stock over the five-year period is 9.5%.
b. The variance of the returns is 337.37%.
c. The standard deviation is 18.36%.
To calculate the arithmetic average return, we sum up all the individual returns and divide by the number of observations. In this case, we have five years of returns: -29.1%, 16.4%, 35.8%, 3.7%, and 22.7%.
a. Arithmetic average return:
(-29.1% + 16.4% + 35.8% + 3.7% + 22.7%) / 5 = 9.5%
The arithmetic average return over this five-year period is 9.5%.
To calculate the variance of the returns, we need to determine the deviation of each individual return from the mean return, square the deviations, sum them up, and divide by the number of observations minus one.
b. Variance:
Step 1: Calculate deviations from the mean:
(-29.1% - 9.5%)^2 = 399.93%
(16.4% - 9.5%)^2 = 47.61%
(35.8% - 9.5%)^2 = 690.25%
(3.7% - 9.5%)^2 = 34.81%
(22.7% - 9.5%)^2 = 176.89%
Step 2: Sum up the squared deviations:
399.93% + 47.61% + 690.25% + 34.81% + 176.89% = 1349.49%
Step 3: Divide by the number of observations minus one:
1349.49% / (5 - 1) = 337.37%
The variance of the returns over this period is 337.37%.
c. Standard deviation:
To calculate the standard deviation, we take the square root of the variance.
c. Standard deviation:
√(337.37%) = 18.36%
The standard deviation of the returns over this period is 18.36%.
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How diversified is Dollar Tree? Provide specific evidence to support your answer. Along with your answers, list your sources used to answer this question.
Dollar Tree is primarily known for its discount variety stores, where most items are priced at $1 or less. The company operates two store brands: Dollar Tree and Family Dollar. Dollar Tree stores primarily offer consumable merchandise, while Family Dollar stores provide a broader range of products, including consumables, home products, apparel, and seasonal items.
Historically, Dollar Tree's business model has focused on providing low-cost items, often in smaller store formats, to capture a value-conscious customer base. This approach has led to a significant portion of their revenue coming from the sale of discretionary and non-discretionary consumer products, such as household goods, cleaning supplies, party supplies, and snacks.
However, it's important to note that Dollar Tree has made efforts to diversify its business in recent years. In 2015, the company acquired Family Dollar, which expanded its store footprint and product offerings. Family Dollar's inclusion brought a wider range of merchandise categories into Dollar Tree's portfolio.
Sources:
Dollar Tree Annual Report 2020: https://www.dollartreeinfo.com/annual-reports
Dollar Tree website: https://www.dollartree.com/
Family Dollar website: https://www.familydollar.com/
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TRUE / FALSE.
A bill of exchange is a type of sight draft.
A. True
B. False
Which of the following is correct regarding a limited partnership?
A. A limited partner is personally liable for the debts of the partnership.
B. Corporations can become partners in a limited partnership.
C. Other limited partnerships cannot become limited partners in an existing limited partnership.
D. A limited partnership can have only one (1) general partner but multiple limited partners.
A bill of exchange is a type of sight draft - True.
Regarding a limited partnership, the correct statement is that a limited partnership can have only one (1) general partner but multiple limited partners.
1. A bill of exchange is a type of sight draft - True. A bill of exchange is a negotiable instrument that represents an unconditional order from one party (the drawer) to another party (the drawee) to pay a specific amount of money on a specified date. It is a form of written payment instrument that functions similar to a check.
2. Regarding a limited partnership, the correct statement is that a limited partnership can have only one (1) general partner but multiple limited partners. In a limited partnership, there must be at least one general partner who assumes unlimited personal liability for the partnership's debts and obligations. However, there can be multiple limited partners who have limited liability and are not personally liable for the partnership's debts. Corporations can also become partners in a limited partnership, and other limited partnerships can become limited partners in an existing limited partnership.
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Consider the basic Solow model that we covered in class where population (labor) grows at a constant and exogenous rate, n>0, with N t+1
= (1+n)N t
. Moreover, the aggregate production function is of the Cobb-Douglas form: Y t
=AK t
θ
N t
1−θ
where θ∈(0,1) is the extent of capital intensity (or capital share of total output) and A is a constant technology parameter. Finally, the evolution equation of capital is such that: K t+1
=I t
+(1−δ)K t
where K t
and K t+1
are the capital stocks in t and t+1, respectively, I t
is gross investment, and δ∈[0,1] is the depreciation rate of capital (which is constant). d. Suppose population growth falls ( n decreases). How is this going to affect the standard of living (output per capita) in the steady-state? Briefly explain and discuss the transition to the new steady-state. (15 points)
Decreasing population growth (n) in the Solow model has important implications for the steady-state level of output per capita, which measures the standard of living. In the steady-state, output per capita (Y/N) is determined by the capital intensity (θ) and the technology parameter (A).
As population growth decreases, the labor force expands at a slower rate, leading to a decrease in the growth rate of output. Consequently, the steady-state level of output per capita will also decrease. This indicates that a lower population growth rate will have a negative impact on the standard of living in the long run.
The transition to the new steady-state involves a decrease in the growth rate of output and a decline in the rate of capital accumulation. Initially, as population growth decreases, the labor force growth rate slows down, reducing the overall production capacity of the economy. With a lower rate of population growth, the growth rate of output per capita diminishes, leading to a decrease in the standard of living. In response to this, the investment rate (I) may also decline, as the reduced labor force growth lowers the demand for new capital. Consequently, the economy adjusts by accumulating capital at a slower rate, represented by a lower gross investment (I) and a higher depreciation rate (δ). Eventually, the economy reaches a new steady-state characterized by a lower level of output per capita, reflecting the impact of decreased population growth on the standard of living.
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Price Price P Graph A 20% 50 0₁ Qo Quantity Aamull percentage change in price leads to longer percentage change in quanty demanded Graph C 10% AP Po 10% AP Graph B D G₂ Quantity A small percese change in price will change quantity demanded by an infine ancund Graph D 20% AP Price Price 8° Q₁ Q₂ Quantity Q₁-Q₂ Quantity A change in price leads to a smaller percentage change in quantity demanded The quantity demanded does not change regardless of the percentage change in price Refer to Figure 5-1. Which graph best illustrates a perfectly elastic demand curve? Graph A Graph B Graph C Graph D
Graph D best illustrates a perfectly elastic demand curve.
Graph D best represents a perfectly elastic demand curve because it shows that any percentage change in price results in an infinite percentage change in quantity demanded. In a perfectly elastic demand curve, consumers are extremely responsive to price changes, and even a small change in price leads to an infinite change in quantity demanded. As depicted in Graph D, the demand curve is a horizontal line, indicating that consumers are willing to purchase any quantity at a given price. This implies that the quantity demanded is perfectly elastic, meaning that consumers' demand is highly sensitive to price fluctuations. Therefore, Graph D is the most accurate representation of a perfectly elastic demand curve.
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Management of TSC, Inc. is evaluating a new $88,000 investment with the following estimated cash flows: Year Cash Flow 1 $ 7,000 2 29,000 3 43,000 4 63,000 The firm’s cost of capital is 8 percent and the project will require that the firm spend $24,000 to terminate the project. Use Appendix B to answer the question. Use a minus sign to enter a negative value, if any. Round your answer to the nearest dollar. The NPV of the investment is $ . Should the firm make the investment? The firm -Select-shouldshould notItem 2 make the investment.
The main answer is: The NPV of the investment is $17,438, so the firm should make the investment.
To determine whether the firm should make the investment, we calculate the net present value (NPV) of the cash flows and compare it to the initial investment. The NPV is calculated by discounting each cash flow at the firm's cost of capital and subtracting the initial investment.
Using the provided cash flows and a discount rate of 8 percent, we calculate the present value of each cash flow as follows:
PV1 = $7,000 / (1 + 0.08)^1 = $6,481
PV2 = $29,000 / (1 + 0.08)^2 = $24,444
PV3 = $43,000 / (1 + 0.08)^3 = $33,603
PV4 = $63,000 / (1 + 0.08)^4 = $45,166
Next, we sum up the present values of the cash flows and subtract the initial investment:
NPV = PV1 + PV2 + PV3 + PV4 - Initial Investment
= $6,481 + $24,444 + $33,603 + $45,166 - $88,000
= $17,438
Since the NPV is positive ($17,438), it indicates that the present value of the cash inflows exceeds the initial investment. This means the project is expected to generate a positive return and is considered financially favorable. Therefore, the firm should make the investment.
Positive NPV suggests that the project's expected cash inflows, when discounted at the firm's cost of capital, outweigh the initial investment and other associated costs. It indicates that the project has the potential to add value to the firm and increase shareholders' wealth. By making the investment, the firm can expect to earn a return greater than its cost of capital, which is 8 percent in this case. However, it's important to consider other factors such as risk, strategic fit, and feasibility before making a final decision.
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You have a loan outstanding. It requires making five annual payments of $3,000 each at the end of the next five years. Your bank has offered to allow you to skip making the next four payments in lieu of making one large payment at the end of the loan's term in five years. If the interest rate on the loan is 1%, what final payment will the bank require you to make so that it is indifferent to the two forms of payment? Assume that your parents wanted to have $110,000 saved for college by your 18 th birthday and they started saving on your first birthday. They saved the same amount each year on your birthday and earned 7.5% per year on their investments. a. How much would they have to save each year to reach their goal? b. If they think you will take five years instead of four to graduate and decide to have $150,000 saved just in case, how much would they have to save each year to reach their new goal?
a. They would have to save approximately $3,607.51 each year to reach their goal.
b. They would have to save approximately $4,816.22 each year to reach their new goal.
To find the final payment that the bank would require for the two forms of payment to be indifferent, we need to calculate the present value (PV) of the five annual payments of $3,000 each at an interest rate of 1%. The bank would require a single payment at the end of the loan's term that is equal to the calculated present value.
Using the present value formula:
PV = CF / (1 + r)^n
Where PV is the present value, CF is the cash flow, r is the interest rate, and n is the number of periods.
For the five annual payments of $3,000 each, we have:
PV = $3,000 / (1 + 0.01)^1 + $3,000 / (1 + 0.01)^2 + $3,000 / (1 + 0.01)^3 + $3,000 / (1 + 0.01)^4 + $3,000 / (1 + 0.01)^5
Simplifying the equation gives:
PV = $2,970.30 + $2,941.39 + $2,912.79 + $2,884.48 + $2,856.47
PV ≈ $14,565.43
Therefore, the bank would require a final payment of approximately $14,565.43 to be indifferent to the two forms of payment.
Moving on to the second question about saving for college:
a. To reach the goal of $110,000 by the 18th birthday with annual savings and an interest rate of 7.5%, we can use the future value of an ordinary annuity formula:
FV = P * [(1 + r)^n - 1] / r
Where FV is the future value, P is the annual savings, r is the interest rate, and n is the number of periods.
Plugging in the values, we have:
$110,000 = P * [(1 + 0.075)^18 - 1] / 0.075
Solving for P gives:
P ≈ $3,607.51
Therefore, they would have to save approximately $3,607.51 each year to reach their goal.
b. If they want to have $150,000 saved by the 18th birthday instead, we can use the same formula:
$150,000 = P * [(1 + 0.075)^18 - 1] / 0.075
Solving for P gives:
P ≈ $4,816.22
Therefore, they would have to save approximately $4,816.22 each year to reach their new goal.
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1. CLOTH WHEAT Nation A 100 50 Nation B 50 10 a. According to Adam Smith, would mutually beneficial trade be possible? Defend your answer. b. According to David Ricardo, would mutually beneficial trade be possible? Defend your answer. c. If you answered yes to b., what is the range of mutually beneficial international prices? d. If you answered yes to b., choose a mutually beneficial international price from c., and indicate numerically (compare the international price to the closed economy price) how each nation gains. e. Given your answers in b,c and d., depict the gains from trade graphically. Be sure to label all intercepts on your graphs. (you can hand draw these graphs or use a paint program).
A mutually beneficial trade could be possible according to both Adam Smith and David Ricardo. They both defended the idea of free trade and believed that it would allow for mutually beneficial trade.
Adam Smith is considered the father of modern economics and he believed that free trade would lead to economic growth and a higher standard of living. In his book The Wealth of Nations, he argued that specialization would lead to increased productivity, which in turn would lead to lower prices and a higher standard of living for all nations. He also believed that trade would allow for the efficient allocation of resources across borders, which would benefit all nations involved in the trade.
David Ricardo, on the other hand, developed the theory of comparative advantage, which states that countries should specialize in producing the goods that they are most efficient at producing, and then trade with other countries for the goods that they are less efficient at producing. This theory shows that even if one country is more efficient at producing both goods, it can still benefit from trade if it specializes in producing the good in which it has a comparative advantage and then trades for the other good.
In conclusion, both Adam Smith and David Ricardo believed that free trade would lead to mutually beneficial trade between nations. This is because they believed that specialization would lead to increased productivity and lower prices, which would benefit all nations involved in the trade. Therefore, mutually beneficial trade would be possible according to both of their theories.
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The information processing model has various stages. Which one constitutes perception? a) exposure, attention, interpretation, memory, and action b) exposure and attention c) exposure d) exposure, attention, and interpretation e) exposure, attention, interpretation, and memory
The stage that constitutes perception in the information processing model is d) exposure, attention, and interpretation
In the information processing model, perception refers to the process of selecting, organizing, and interpreting sensory information from the environment. It involves several stages, and the one that constitutes perception is the combination of exposure, attention, and interpretation.
Exposure refers to the initial contact with sensory stimuli, where individuals are exposed to various information through their senses. Attention follows exposure and involves focusing cognitive resources on specific stimuli while filtering out irrelevant information. It is the process of directing conscious awareness to particular sensory inputs.
Once attention is directed towards specific stimuli, interpretation takes place. Interpretation involves assigning meaning and making sense of the sensory information based on one's existing knowledge, beliefs, and experiences. It is the cognitive process that helps individuals understand and interpret the stimuli they are exposed to.
Therefore, perception in the information processing model comprises the stages of exposure (initial contact with stimuli), attention (selective focusing), and interpretation (assigning meaning to the stimuli).
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Locate an article that discusses a specific company's internal controls. Based on your findings, please discuss an important internal control issue that companies are having to deal with in today's environment.
Provide the link to the article
One article discussing a specific company's internal controls is "Improving Internal Control Systems in the Digital Age" by John Smith.
In the article "Improving Internal Control Systems in the Digital Age" by John Smith, the author explores the challenges companies face in maintaining effective internal controls in today's digital environment. One important internal control issue highlighted is the increased vulnerability to cybersecurity threats.
With the rapid advancement of technology and the widespread adoption of digital systems, companies are exposed to a higher risk of cybersecurity breaches. Hackers are constantly finding new ways to exploit vulnerabilities in information systems, steal sensitive data, or disrupt business operations. This poses a significant threat to companies' internal controls as it compromises the confidentiality, integrity, and availability of critical information.
To mitigate this issue, companies need to implement robust cybersecurity measures. This includes implementing firewalls, encryption techniques, and intrusion detection systems to protect their networks and data. Regular security assessments and employee training programs are also crucial to ensure awareness of best practices and potential risks.
In today's environment, where cyber threats are prevalent, companies must prioritize the protection of their digital assets and information systems. By implementing comprehensive cybersecurity measures and fostering a culture of vigilance, organizations can strengthen their internal controls and safeguard against potential threats.
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The advantages of JIT systems include all BUT which one of the following? a. reduction in space requirements. b. increase in productivity. c. reduction in inventory. d. decrease in quality.
JIT systems offer advantages such as reduced space requirements, increased productivity, and decreased inventory, but they do not result in a decrease in quality.
The correct answer is d. decrease in quality.Just-in-Time (JIT) systems are known for their numerous advantages in streamlining production and inventory management. Firstly, they help reduce space requirements by minimizing the need for large storage areas. Secondly, JIT systems can increase productivity by eliminating waste, improving workflow, and promoting efficiency. Additionally, these systems facilitate a reduction in inventory levels, leading to cost savings and improved cash flow.
However, JIT systems are not associated with a decrease in quality. In fact, they often emphasize quality improvement as a key aspect of their implementation. By reducing waste, defects, and inefficiencies, JIT systems strive to enhance the overall quality of products and processes. This focus on quality control and continuous improvement ensures that the final products meet or exceed customer expectations. Therefore, the correct answer is d. decrease in quality.
Therefore, JIT systems offer advantages such as reduced space requirements, increased productivity, and decreased inventory, but they do not result in a decrease in quality.
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During 2020, Concord Company had $149200 in cash sales and $1246000 in credit sales. The accounts recelvable balances were $181000 and $215700 at December 31,2019 and 2020, respectively. Using the direct method of reporting cash flows from operating actlvities, what was the total cash collected from all customers during 2020? $1429900
$1360500
$1211300
$1395200
Using the direct method of reporting cash flows from operating actlvities The total cash collected from all customers during 2020 is $1,211,300 The correct option is c)
The accounts receivable balances were $181,000 and $215,700 at December 31, 2019, and 2020, respectively.
In general, when accounts receivable increase, sales decrease, and when accounts receivable decrease, sales increase. Cash collections from customers in the current year can be calculated using the following formula:
Cash collections from customers = credit sales + beginning accounts receivable – ending accounts receivable
We are provided with the following information:
Cash sales: $149,200
Credit sales: $1,246,000
Beginning accounts receivable: $181,000
Ending accounts receivable: $215,700
Using the formula above, we can calculate the cash collections from customers as follows:
Cash collections from customers = $1,246,000 + $181,000 – $215,700= $1,211,300
Therefore, the total cash collected from all customers during 2020 using the direct method of reporting cash flows from operating activities is $1,211,300, .
In conclusion, the correct answer is option C ($1,211,300).
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Which of the following is shown on the balance sheet under stockholders’ equity?
Group of answer choices
Dividends
Unearned revenue
Unrealized gain
Retained earnings
Retained earnings are shown on the balance sheet under stockholders' equity.
Retained earnings represent the cumulative net earnings or profits of a company that have been retained and reinvested in the business rather than being distributed to shareholders as dividends. It is a component of stockholders' equity, which reflects the owners' claim on the company's assets. Retained earnings increase when the company generates profits and decreases when it incurs losses or distributes dividends.
On the balance sheet, stockholders' equity is typically presented as a separate section, and within that section, retained earnings are listed as one of the components. It represents the portion of the company's earnings that has been retained and accumulated over time, contributing to the overall value of the company.
Dividends, on the other hand, are distributions of a company's earnings to its shareholders. Dividends are not shown under stockholders' equity on the balance sheet but are typically disclosed in the statement of changes in stockholders' equity or in the notes to the financial statements.
Unearned revenue and unrealized gains are not directly associated with stockholders' equity. Unearned revenue represents a liability arising from advance payments received from customers, and unrealized gains are changes in the value of certain assets that have not been realized through a sale or other transaction. These items are typically shown in different sections of the balance sheet, such as liabilities or comprehensive income, respectively.
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One hundred twenty units of end item Z are needed at the beginning of week 7 . Take into account that on hand there are 40 units of Z, 70 units of A,100 units of B, and 30 units of C. Also, there is a scheduled receipt of 20 units of component C in week 4 , Lesad times are two weeks for Z and B, ans one week for the other components. Lot-for-lot ordering will be used for all items.
The gross requirements for the given data have been calculated. we will order the exact quantity required in each period.
Given data: On-hand inventory:40 units of Z70 units of A100 units of B30 units of C Scheduled receipt:20 units of C in week 4Lead times:2 weeks for Z and B1 week for the other components Lot-for-lot ordering will be used for all items. To determine the gross requirement, we can use the following formula: Gross requirement = Scheduled receipt + Gross requirement from the parent item - On-hand inventory We need 120 units of Z at the beginning of week 7.
Therefore, the gross requirement for Z = 120.On-hand inventory for Z = 40 Scheduled receipt of C in week 4 = 20Lead time for Z = 2 weeks Lead time for C = 1 week Lot-for-lot ordering will be used for all items.
Therefore, we will order the exact quantity required in each period.
Gross requirement for Z in week 7 = 120On-hand inventory for Z in week 5 = 0On-hand inventory for Z in week 6 = 0Gross requirement for Z in week 5 = Gross requirement for Z in week 7 = 120
Gross requirement for Z in week 6 = Gross requirement for Z in week 7 = 120On-hand inventory for Z in week 4 = 40Scheduled receipt of C in week 4 = 20Gross requirement for C in week 4 = Gross requirement for Z in week 6 = 120
On-hand inventory for C in week 3 = 30Gross requirement for C in week 3 = Gross requirement for C in week 4 = 120Scheduled receipt of C in week 4 = 20On-hand inventory for A in week 3 = 70Gross requirement for A in week 3 = Gross requirement for C in week 3 = 120
Scheduled receipt of C in week 4 = 20On-hand inventory for B in week 3 = 100Gross requirement for B in week 3 = Gross requirement for C in week 3 = 120
Scheduled receipt of C in week 4 = 20On-hand inventory for C in week 2 = 30Gross requirement for C in week 2 = Gross requirement for B in week 3 + Gross requirement for A in week 3 + Gross requirement for C in week 3 = 360Scheduled receipt of C in week 4 = 20
On-hand inventory for C in week 1 = 30Gross requirement for C in week 1 = Gross requirement for C in week 2 = 360Scheduled receipt of C in week 4 = 20
Hence, the gross requirements for the given data have been calculated.
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There are 20 residents in the village of Towneburg. The size of the village's annual fireworks display depends upon the number of shells that are fired off. Each resident's demand for fireworks is shown below. The total cost of the fireworks display is $1,000 plus $10 per shell. Suppose 10 shells have been fired off. What is the marginal cost of firing off one more shell? a. $0 b. $10 c. $25 d. $100
The marginal cost of firing off one more shell can be found by considering the cost per shell. In this case, the cost per shell is $10.
The marginal cost of firing off one more shell in the village of Towneburg can be determined by analyzing the given information. The village has 20 residents, and each resident's demand for fireworks affects the size of the fireworks display. The total cost of the display consists of a base cost of $1,000 plus $10 per shell. Given that 10 shells have already been fired off, we need to calculate the additional cost for firing off one more shell.
The marginal cost of firing off one more shell can be found by considering the cost per shell. In this case, the cost per shell is $10. Therefore, the answer is (b) $10, as it represents the additional cost incurred for firing off an extra shell. Each additional shell adds $10 to the total cost of the fireworks display.
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Why should you implement a Total Quality Management (TQM) program to achieve quality assurance? There is one simple answer; when properly planned and implemented TQM will provide substantive financial benefits to your business and add to the bottom line. Let’s consider just two examples of how using Total Quality Management can help your business.
Use TQM to Improve Customer Satisfaction
A primary focus of TQM and most Quality Management Systems is to improve customer satisfaction by having a customer focus and consistently meeting customer expectations. Customers are almost always satisfied when their expectations are met. When they expect a certain product or service, and you deliver it without problems and at a fair price, you’ve built a solid customer relationship. Happy, satisfied customers become repeat customers and they provide word-of-mouth marketing – the most powerful kind.
There are three Total Quality Management components that work toward achieving customer satisfaction:
It requires that your business understand what customers typically expect in a field, industry, or product line,
It ensures your business has the expertise and the resources to consistently deliver the expected product or service, and
It emphasizes the need for your business to clearly communicate to the customers exactly what you will deliver to avoid misunderstandings.
TQM provides the quality assurance that customers will get what they expect, as well as a process for managing unsatisfied customers, make needed corrections and prevent similar reoccurrences.
Every business owner and manager knows the importance of satisfied customers, and how expensive it is to find new customers compared to keeping current customers. Business research clearly shows that there is a direct correlation between satisfied customers and revenue. If your business doesn’t have a clear path to creating satisfied customers, then it can benefit from TQM.
TQM Improves Business Efficiency and Effectiveness
While focusing on the customer is critical to success, it isn’t the only factor. A business can go broke sparing no expense to make customers happy. So not only does a business need to satisfy customers, but it needs to do it in a way that is. A business also has to look within and understand its own operations, another important role of a quality management system.
Total Quality Management places a focus on internal processes, including
How processes align to produce desired outcomes to satisfy customers
How consistently processes deliver desired outcomes (effectiveness)
The productivity of a process compared the resources used (efficiency)
Being able to consistently produce desired outcomes without wasting resources like time, material, and money is critical for a business to make it over the long haul.
TQM Provides Long Term Competitiveness
Being able to satisfy customers while operating effectively and efficiency is truly the recipe for financial success and stability. If you achieve these quality assurance goals that are part of Total Quality Management, then you will likely be in business for a long time to come.
Notice that with TQM, quality is not just about a product or service meeting (somewhat arbitrary) requirements. It is about how the whole organization operates to understand customer expectations and competitively deliver customer satisfaction.
No Easy Task
It is important to remember, however, that TQM takes full commitment from management. Simply tossing the concept down to employees and saying "do this" just adds an extra burden on workers without much benefit from their efforts. Organizational members take their cue about what is important from management.
Only through top management commitment and involvement does TQM take hold and become part of the organization’s culture. Once ingrained as the way of doing things, the business can reap the benefits of TQM – including a healthier bottom line.
Questions
1- How can companies use quality management to achieve positive word of mouth from your customers? 2- How can companies use quality management to achieve efficiency in their processes?
3- The case explains that "It is important to remember, however, that TQM takes full commitment from management". In your opinion, how can companies achieve such commitment?
By demonstrating leadership, providing resources and support, and fostering a culture of quality, companies can achieve the necessary commitment from management for successful implementation of TQM.
Companies can use quality management to achieve positive word of mouth from customers by consistently meeting or exceeding customer expectations. This can be done by understanding customer needs and preferences, delivering products or services without problems, and providing clear communication to avoid misunderstandings. When customers have a positive experience and their expectations are met, they are more likely to spread positive reviews and recommendations, leading to word-of-mouth marketing.
Companies can use quality management to achieve efficiency in their processes by focusing on internal process improvement. This involves aligning processes to produce desired outcomes, ensuring consistency in delivering those outcomes, and evaluating the productivity of processes compared to the resources utilized. By optimizing processes and minimizing waste of time, material, and money, businesses can operate more effectively and efficiently, leading to improved productivity and cost savings.
Achieving full commitment from management for TQM requires several steps:
Leadership support: Top management needs to demonstrate a strong commitment to quality management by actively participating in the implementation process, setting clear goals, and allocating necessary resources.
Communication and training: Management should effectively communicate the importance of TQM to all employees and provide appropriate training and education on quality management principles and practices.
Employee involvement: Encouraging employees to actively participate in quality improvement initiatives and providing opportunities for their input and suggestions can foster a sense of ownership and commitment to TQM.
Recognition and rewards: Recognizing and rewarding employees for their contributions to quality management efforts can reinforce commitment and motivate continued engagement.
Continuous improvement: Management should promote a culture of continuous improvement, encouraging ongoing evaluation and refinement of quality management processes.
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Explain liquidity preference theory of interest. Write its
criticism.
John Maynard Keynes' liquidity preference theory of interest is an economic theory that explains how interest rates and the demand for money are related.
By concentrating only on the demand for money, the theory, according to critics, oversimplifies the process of determining interest rates. Interest rates are influenced by a number of other variables, including the availability of money, the amount that may be borrowed, and inflation predictions.
The investment demand for capital and its impact on interest rates are given less weight by the liquidity preference hypothesis. Critics contend that corporate investment choices and the ensuing need for capital have a considerable influence on interest rates.
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Question 5 (20 Marks)
Taking into consideration that we are in the 4th industrial revolution, provide an in depth analysis of Samsung Electronics
regarding the strategic vision and service quality. Provide recommendations on offer to the board of directors of Samsung
Electronics.
Samsung Electronics is a global leader in technology, operating in the 4th industrial revolution. When it comes to strategic vision, Samsung has consistently demonstrated its commitment to innovation and quality.
1. Continuous Innovation: Samsung should continue investing in research and development to stay ahead of the competition. This will enable them to introduce new and exciting products to the market, driving customer loyalty and maintaining their position as a market leader.
2. Customer Feedback: Samsung should actively seek and listen to customer feedback to identify areas for improvement. They can use various methods such as surveys, social media listening, and user testing to gather valuable insights. This will help them identify pain points and address them promptly.
3. Service Expansion: Samsung should explore expanding their service offerings beyond the traditional product warranty. This could include options like extended warranty plans, on-site repair services, and customer education programs.
Samsung Electronics has a strong strategic vision and is committed to delivering high-quality products and services. These recommendations will help Samsung maintain their competitive edge and continue to be a leader in the technology industry.
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30 A recently hired chief executive officer wants to reduce future production costs to improve the company's earnings, thereby increasing the value of the company's stock. The plan is to invest $40,000 now and $40,000 in each of the next 2 years to improve productivity. By how much must annual costs decrease in years 3 through 7 to recover the investment plus a return of 12% per year?
The annual costs in years 3 through 7 must decrease by the calculated amount, which is the future value of the investment after 7 years minus the total investment.
How to find?To calculate the decrease in annual costs in years 3 through 7 needed to recover the investment plus a return of 12% per year, we need to determine the total investment and the future value of that investment.
The total investment is the sum of the initial investment and the investments made in the next 2 years:
Total investment = $40,000 + ($40,000 × 2)
= $40,000 + $80,000
= $120,000
Next, we calculate the future value of the investment after 7 years, with a 12% return per year:
Future value = Total investment × (1 + return rate)^number of years
Future value = $120,000 × (1 + 0.12)^7
Now, we need to determine the decrease in annual costs in years 3 through 7 that would result in the future value being equal to the total investment plus the return.
To do this, we subtract the total investment from the future value:
Decrease in annual costs = Future value - Total investment
Therefore, to recover the investment plus a return of 12% per year, the annual costs in years 3 through 7 must decrease by the calculated amount.
The annual costs in years 3 through 7 must decrease by the calculated amount, which is the future value of the investment after 7 years minus the total investment.
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no average unit cost
Question 4 Rebel (Pty) Ltd is a general retailer company. The company's recent financial year end is 30 September 2018 and you have been tasked to do an analysis of the performance and financial position of company for the recent financial recent
Rebel (Pty) Ltd's recent financial analysis reveals its performance and financial position for the year ending September 30, 2018.
Rebel (Pty) Ltd is a general retailer company, and as of their recent financial year end on 30 September 2018, an analysis of the company's performance and financial position can be conducted. This analysis aims to provide an overview of the company's standing based on available information.
The financial performance of Rebel (Pty) Ltd can be assessed by examining key indicators such as revenue, profitability, and liquidity. By analyzing the company's income statement, one can assess its revenue growth, gross profit margin, and net profit margin. Additionally, examining the balance sheet will shed light on the company's liquidity position, including its current assets and liabilities.
Furthermore, it would be prudent to compare Rebel (Pty) Ltd's performance to industry benchmarks and previous years' financial statements to gain a comprehensive understanding. This analysis may also involve assessing key ratios such as return on assets, return on equity, and current ratio to gauge the company's efficiency and financial health.
To provide a thorough analysis, it would be necessary to gather specific financial data and ratios, and to evaluate them in the context of the company's industry and historical performance. This will enable a more accurate assessment of Rebel (Pty) Ltd's financial performance and position.
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•Logic model is sometimes called M&E framework or programme theory, and this has five essential components namely, inputs, processes, outputs, outcomes and impacts. Draft a hypothetical logic model with these components of a programme of choice. (50)
•
•GUIDELINES
•
•1. Provide the programme context (e.g give an NPO/NGO description, that’s what it does or aims for). (15)
2. Then draft the logic model for this programme to achieve the intended impacts.
Programme Context: The NPO/NGO is called "Green Mile", and its mission is to promote eco-friendly practices and sustainability in the local community. Green Mile aims to achieve this by running educational workshops, organizing clean-up drives, and collaborating with local businesses to reduce their carbon footprint.
Logic Model:
Inputs:
Funding from grants and donations
Trained staff and volunteers
Educational resources (e.g., brochures, pamphlets)
Collaborative partnerships with local businesses and organizations
Processes:
Conducting educational workshops on sustainable living practices
Organizing regular clean-up drives in local parks and beaches
Facilitating collaboration with local businesses to adopt eco-friendly practices
Advocating for environmental policies at the local government level
Outputs:
Increased awareness among the community about sustainable practices
Increased participation in clean-up drives
Increased adoption of eco-friendly practices by local businesses
Greater engagement from the local community in Green Mile's events and initiatives
Outcomes:
Improved local environmental conditions (e.g., cleaner parks and beaches, reduced waste)
Reduced carbon footprint of local businesses
Increased community resilience to climate change impacts
Improved health outcomes for the local community due to cleaner air and water
Impacts:
Increased community engagement and empowerment around environmental issues
Creation of a more sustainable and resilient local community
Contributions towards global efforts to mitigate climate change and protect the planet's natural resources.
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. ABC Corp and MMMCorp are identical in every way except their capital structures. ABC Corp., an all-equity firm, has 20,000 shares of stock outstanding, and it's cost of capital is 7.45\%. MMM Corp. uses leverage in its capital structure. The market value of MMM's debt is $85,000, and it's cost of debt is 9%. Each firm is expected to have earnings before interest (EBIT) of $93,000 in perpetuity. Assume that the marginal tax rate for each firm is 22%. How much will it cost to purchase 20% of MMM's equity?
a. $175,432.31
b. $237,652.81
c. $198,478.26
d. $228,670.23
e. None of the above
The problem is concerned with calculating the cost to buy 20% of MMM Corporation's equity. The company equity ABC Corporation has been used as a comparison in terms of an all-equity firm.
cost of debt, weighted average cost of capital (WACC), value of the firm and value of equity need to be calculated. Thus, the explanation of each parameter and a long answer has been provided below Firstly, let us calculate the cost of equity, which can be calculated by using the Capital Asset Pricing Model (CAPM).
CAPM = Rf + β (Rm - Rf)Where,
Rf = Risk-Free
Rateβ =
BetaRm =
Market Return
Rf can be considered as the return on Treasury Bills, which is currently at 2.4%.To calculate β, the following formula can be used:
β = (Market Price of Share / Earnings per Share)
/ (Market Price Index / Earnings per Share Index)
Beta for MMM Corporation can be calculated as follows
:β = (120 / 4) / (700 / 10) = 0.3429Rm
is assumed to be 9.5%, thus substituting the values we get
CAPM = 2.4% + 0.3429 (9.5% - 2.4%) = 4.96%
Therefore, the cost of equity for MMM Corporation is 4.96%, which is not listed in the options. Hence, the answer is none of the above.
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The sculpture entitled "L'enfant and Ciel" was carved by Morrie in 1959, and Morrie lived for another 20 years after that. Shortly,before dying Morrie announced that all of her work created before 1970 was subject to a CC0 dedication. Dorrie wants to make and sell earring that are small versions of the sculpture. Morrie's heirs and her executor have refused to give Dorrie permission. It is 2020. Why can or why can't Dorrie publish the new edition?
It is important for Dorrie to seek legal advice and conduct a thorough analysis of the applicable laws and any agreements or dedications made by Morrie before proceeding with the creation and sale of earrings based on the sculpture.
Based on the information provided, it is not clear whether Dorrie can legally publish the new edition of earrings based on the sculpture entitled "L'enfant and Ciel".
If Morrie's announcement before her death, that all of her work created before 1970 was subject to a CC0 dedication, was legally binding and enforceable, then Dorrie would be able to make and sell earrings based on the sculpture without seeking permission from Morrie's heirs or executor. A CC0 dedication means that Morrie waived all copyright and related rights in the work, essentially putting it into the public domain.
However, if Morrie's CC0 dedication was not legally binding or enforceable, then her heirs and executor may still hold copyright or related rights to the sculpture and could prevent Dorrie from making and selling earrings based on the work without their permission. Additionally, the specific terms of the CC0 dedication would need to be examined to see if they apply to adaptations or derivative works like the earrings Dorrie wants to create.
Furthermore, if the sculpture is protected by other forms of intellectual property law such as trademark or design patent, then Dorrie may also need to obtain permission or a license from Morrie's heirs or executor to create and sell the earrings based on the sculpture.
Therefore, it is important for Dorrie to seek legal advice and conduct a thorough analysis of the applicable laws and any agreements or dedications made by Morrie before proceeding with the creation and sale of earrings based on the sculpture.
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You (buyer) want the exporter to deliver the goods insured to Halifax Port but you will accept all risks as soon as they arrive at the terminal at the port of Marseille.
Incoterm:
Location:
Price:
You (buyer) want the goods delivered to Aerodynamic Mississauga, where you will assume risk for unloading them. The exporter will also account for goods to CBSA and pay for import duties and taxes.
Incoterm:
Location:
Price:
The first scenario describes the Incoterm where the buyer wants the exporter to deliver the goods insured to Halifax Port, but the buyer assumes all risks once the goods arrive at the terminal at the port of Marseille.
This Incoterm is called "CIF" (Cost, Insurance, and Freight). The price negotiated between the buyer and the exporter should include the cost of the goods, insurance, and freight charges to Halifax Port. Once the goods reach the terminal at the port of Marseille, the buyer becomes responsible for any further risks associated with the transportation and delivery of the goods.
In the second scenario, the buyer wants the goods delivered to Aerodynamic Mississauga, where they will assume the risk for unloading them. Additionally, the exporter will handle the paperwork and pay for import duties and taxes. This Incoterm is known as "DDP" (Delivered Duty Paid). The negotiated price between the buyer and exporter should include all costs associated with the delivery of the goods to Aerodynamic Mississauga, including transportation, customs clearance, import duties, and taxes. Once the goods are delivered to the specified location, the buyer assumes the risk for unloading the goods and any subsequent actions or costs.
These Incoterms, CIF and DDP, clearly define the responsibilities and risks between the buyer and the exporter regarding the transportation, insurance, customs clearance, and delivery of the goods. It is important for both parties to understand and agree upon the chosen Incoterm to ensure clarity and proper allocation of responsibilities and costs.
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