One of the best leaders that I have known is Martin Luther King Jr. who was an American Baptist minister and activist in the 1960s. He was a famous leader who fought for civil rights and justice for African Americans.Martin Luther King Jr. had acquired his capability through his faith, education, and non-violent approach to activism.
He grew up in a family that valued education and became a minister at a young age. His religious beliefs taught him the importance of treating others with kindness and respect and he carried these values into his activism.Martin Luther King Jr. also studied the teachings of Mahatma Gandhi and used his principles of non-violent protest to bring about change. He believed that peaceful protest and civil disobedience were powerful tools to bring attention to social injustices and that it was important to remain peaceful even in the face of violence and hatred. He practiced what he preached, and his unwavering commitment to nonviolence and peace made him a respected leader worldwide.In conclusion, Martin Luther King Jr. was a great leader who acquired his capability through his faith, education, and his non-violent approach to activism. His values, dedication, and leadership brought change and inspired millions of people around the world.
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A patent is created by:
Select one:
a. The creation of a novel process
b. The invention of a novel product
c. Registration by application to the Intellectual Property Office
(IPONZ)
Therefore, it is the registration by application to the intellectual property office that creates a patent, granting exclusive rights to the inventor for a limited period of time to protect their invention from unauthorized use, manufacture, or sale.
C. Registration by application to the Intellectual Property Office (IPONZ).
A patent is a form of intellectual property protection granted to inventors or creators of new inventions or innovations. To obtain a patent, an inventor must file a patent application with the relevant intellectual property office, such as IPONZ in New Zealand. The application goes through a rigorous examination process to determine the novelty, inventiveness, and industrial applicability of the invention.
The key criteria for patentability include the invention being novel (not previously disclosed or known), involving an inventive step (not obvious to a person skilled in the field), and having industrial applicability (capable of being used or made in an industry). If the invention meets these criteria and is not excluded from patentability (such as certain abstract ideas or methods of medical treatment), the patent office may grant a patent.
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What are advantages and disadvantages of GANTT chart in project planning and scheduling?
The Gantt chart is a popular tool used in project planning and scheduling. It offers several advantages, such as visualizing project timelines, identifying dependencies, and providing a clear overview of project progress. However, there are also disadvantages, including limitations in handling complex projects, difficulties in managing changes, and potential challenges in resource allocation.
One of the key advantages of the Gantt chart is its ability to visually represent project timelines. It allows project managers and team members to see the duration of each task, their start and end dates, and the overall project timeline. This visual representation helps in understanding the project schedule and identifying potential delays or overlaps.
Another advantage is the Gantt chart's ability to highlight task dependencies. By representing task relationships and dependencies, it becomes easier to understand the critical path of the project and identify tasks that need to be completed before others can begin. This helps in managing dependencies effectively and ensuring smooth project progression.
However, Gantt charts also have certain limitations. They may not be suitable for complex projects with numerous interdependencies and overlapping tasks. Managing changes and adjusting the chart accordingly can be challenging, especially when changes affect multiple tasks and their relationships.
Additionally, resource allocation can be difficult to visualize in a Gantt chart, making it harder to balance workloads and allocate resources efficiently.
In summary, Gantt charts provide valuable visualizations for project planning and scheduling by depicting timelines and dependencies. However, they may be less effective for complex projects, present challenges in managing changes, and have limitations in resource allocation.
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which macroeconomic variable is plotted in this figure? a. dow jones industrial index b. unemployment rate c. gdp growth rate d. aggregate investment e. aggregate consumption
The macroeconomic variable that is plotted in the given figure is "GDP growth rate".
Gross domestic product (GDP) is a measure of the market value of all the goods and services produced in a country during a specific period of time. It is calculated by summing the value added by all the producers in the country. It is a macroeconomic variable that reflects the size and health of a country's economy.
It is typically measured on a quarterly or annual basis. When the GDP growth rate is positive, it indicates that the economy is growing, and when it is negative, it indicates that the economy is contracting. The GDP growth rate is an important indicator of the overall health of an economy and is closely watched by policymakers, investors, and analysts.
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True/False
1. IFRS requires that gains and losses on non-trading equity securities be reported as part of other
comprehensive income.
2. Under IFRS, impairment charges related to held-for-collection debt securities may be reversed.
3. Both GAAP and IFRS classify debt investments as trading, available-for-sale, and held-to-
maturity.
4. IFRS requires that Company A consolidate Company B when it controls and owns more than 50%
of Company B.
5. Under IFRS, both the investor and the investee should follow the same accounting practices,
requiring adjustments be made to the investor’s books in order to prepare financial information.
Multiple Choice
6. Match the approach and location where gains and losses from non-trading securities are reported:
Location where gains/
Approach losses reported
a. GAAP Equity
b. IFRS Equity
c. GAAP Comprehensive income
d. IFRS Comprehensive income
Use the following information for questions 7 and 8
Rushia Company has a non-trading investment in the 10%, 10-year bonds of Pear Company. The
investment’s carrying value is $3,200,000 at December 31, 2020. On January 9, 2021, Rushia learns
that Pear Company has lost its primary manufacturing facility in an uninsured fire. As a result, Rushia
determines that the investment is impaired and now has a fair value of $2,300,000. In June, 2022,
Pear Company has succeeded in rebuilding its manufacturing facility, and its prospects have
improved as a result.
7. If Rushia Company determines that the fair value of the investment is now $3,900,000 and is
using GAAP for its external financial reporting, which of the following is true?
a. Rushia is prohibited from recording the recovery in value of the impaired investment.
b. Rushia may record a recovery of $900,000.
c. Rushia may record a recovery of $700,000.
d. Rushia may record a recovery of $1,600,000.
8. If Rushia Company determines that the fair value of the investment is now $2,900,000 and is
using IFRS for its external financial reporting, which of the following is true?
a. Rushia is prohibited from recording the recovery in value of the impaired investment.
b. Rushia may record a recovery of $600,000.
c. Rushia may record a recovery of $900,000.
d. Rushia may record a recovery, but is limited to 80% of the value of the recovery.
1. **False.** Under IFRS, gains and losses on non-trading equity securities are generally reported in profit or loss, unless an irrevocable election is made to present them in other comprehensive income.
Explanation: Unlike GAAP, IFRS allows the choice to report gains and losses on non-trading equity securities in profit or loss, but the default treatment is to report them in profit or loss. This provides flexibility to entities, as they can choose the most appropriate presentation based on their specific circumstances.
2. **True.** Under IFRS, impairment charges related to held-for-collection debt securities may be reversed if there is objective evidence of a subsequent increase in their recoverable amount.
Explanation: IFRS allows the reversal of impairment losses on held-for-collection debt securities if there has been a subsequent increase in their recoverable amount. This reflects the possibility that the creditworthiness of the issuer may improve over time, leading to a recovery in the value of the investment.
3. **True.** Both GAAP and IFRS classify debt investments into three categories: trading, available-for-sale, and held-to-maturity.
Explanation: Both GAAP and IFRS provide similar classification criteria for debt investments, which include trading, available-for-sale, and held-to-maturity categories. The classification determines how these investments are initially recognized and subsequently measured in the financial statements.
4. **True.** IFRS requires that Company A consolidate Company B when it controls and owns more than 50% of Company B.
Explanation: IFRS establishes control as the key criterion for determining when consolidation is required. If Company A controls Company B, which is typically assessed through ownership of more than 50% of voting rights, then consolidation is required under IFRS.
5. **False.** Under IFRS, the accounting practices of the investor and the investee may differ, and adjustments are made to the investor's books to prepare financial information.
Explanation: Under IFRS, the investor and the investee may apply different accounting practices. The investor's financial statements may require adjustments to align with the investor's own accounting policies, ensuring consistency and comparability in the presentation of financial information.
6. The approach and location where gains and losses from non-trading securities are reported:
a. GAAP: **Comprehensive income**
b. IFRS: **Profit or loss**
Explanation: Under GAAP, gains and losses from non-trading securities are reported as part of comprehensive income. In contrast, IFRS requires reporting these gains and losses in profit or loss.
7. If Rushia Company determines that the fair value of the investment is now $3,900,000 and is using GAAP for its external financial reporting, **Rushia may record a recovery of $700,000**.
Explanation: According to GAAP, an impairment loss cannot be reversed. Therefore, if the fair value of the investment increases to $3,900,000, Rushia can record a recovery of $700,000 ($3,900,000 - $3,200,000).
8. If Rushia Company determines that the fair value of the investment is now $2,900,000 and is using IFRS for its external financial reporting, **Rushia may record a recovery of $600,000**.
Explanation: Under IFRS, the recovery of an impaired investment is allowed but limited to the amount of the original impairment loss. Since the impairment loss was $900,000 ($3,200,000 - $2,300,000), Rushia can record a recovery of $600,000, which is the lower of the original impairment loss or the increase in fair value.
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10) In target pricing, the target sales price is the. A) total product cost incurred in producing a product Done B) net profit desired by the company C) amount customers are willing to pay for a product or service D) prior calculated by deducting the desired protit from the total production cost
In target pricing, the target sales price is the amount customers are willing to pay for a product or service.
Target pricing is a pricing strategy that involves determining the price at which a product or service should be offered based on the customers' perceived value and willingness to pay. The target sales price is the price that customers are willing to pay for the product or service.Option A, total product cost incurred in producing a product, is not the target sales price in target pricing. While product cost is an important factor in determining the pricing strategy, target pricing focuses on aligning the price with customer preferences and market demand.
Option B, net profit desired by the company, is not the target sales price either. Net profit is the financial goal or desired level of profitability for the company, but it is not directly linked to the target sales price in target pricing.Option D, prior calculated by deducting the desired profit from the total production cost, is not an accurate description of target pricing. Target pricing starts with the customers' perceived value and desired sales price, not by deducting profit from production cost.
Therefore, the correct answer is Option C: the amount customers are willing to pay for a product or service. Target pricing aims to set the price based on customer expectations and market dynamics to achieve a desired level of profitability while remaining competitive.
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Suppose that the allowance factor ( workday) for a job is 0.5 and the normal time is 10 hours. What is the standard time? 7.5hrs 20 hrs 5 hrs 10 hrs
The given data are:Allowance factor (workday) for a job is 0.5 .Normal time is 10 hours .To find: Standard time ,Formula used: Standard Time = (1 + Allowance factor) x Normal TimeCalculation.
Given Allowance factor = 0.5Normal time = 10 hoursStandard Time = (1 + Allowance factor) x Normal Time= (1 + 0.5) x 10= 1.5 x 10= 15 hrsTherefore, the standard time for the given job is 15 hrs.Following are the data:A job's allowance factor (workday) is set at 0.5.Ten hours is standard time.In search of: normal timeutilised formula Standard Time is (1 plus the allowance factor) times Normal Time.Calculation: 0.5 given the allowance factorTime normally is 10 hours.Standard time is (1 + Allowance factor) x Normal time is (1 + 0.5) x 10 is 1.5 x 10 is 15 hours.Consequently, 15 hours constitute the normal time for the specified task.
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Suppose that the allowance factor (workday) for a job is 0.5 and the normal time is 10 hours. The standard time can be calculated as follows: Standard time = Normal time / (1 + Allowance Factor) Where the normal time is 10 hours and the allowance factor is 0.5.
Hence, Substituting the given values in the formula, we get: Standard time = 10 / (1 + 0.5) Standard time = 10 / 1.5 Standard time = 6.67 hours Therefore, the standard time is 6.67 hours, which is approximately equal to 6 hours 40 minutes. Hence, the option "None of the above" is the closest option to the calculated value of the standard time, and it is the correct answer.
Financial Allowance Factor: In personal finance, an allowance factor refers to a percentage or multiplier used to determine an individual's spending limit or discretionary budget. It can be calculated based on various factors such as income, expenses, savings goals, and financial responsibilities. For example, if someone's monthly income is $1,000 and they use a 70% allowance factor, their discretionary budget would be $700.
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Consider a five-year bond with a 10% coupon, paid every
six-months and with yield-to-maturity 8% per annum semi-annual
compounding. If the bond’s yield-to-maturity remains constant, then
in one year
In one year, the five-year bond with a 10% coupon and an 8% yield-to-maturity will experience some changes.
First, let's consider the coupon payments. The bond pays a 10% coupon semi-annually, so in one year, there will be two coupon payments. Each payment will be 10% of the bond's face value.
Next, let's consider the yield-to-maturity (YTM). The YTM is the annualized return an investor would earn if the bond is held until maturity. In this case, the YTM is 8% per annum with semi-annual compounding. However, since the YTM remains constant over the one-year period, the bond's price will not change.
The bond's price is determined by discounting the future cash flows (coupon payments and the final repayment of face value) at the YTM. Since the YTM remains constant, the bond's price will remain the same.
In summary, in one year, the bond will make two coupon payments of 10% each, and its price will stay constant as long as the YTM remains unchanged.
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The government has introduced an excise duty of 10 percent on mealie meal. This essentially means the price of mealie meal, an essential item in most households, has increased by 10 percent. As the chief economist responsible for managing a social protection programme, you have been asked to make a proposal on how you can minimise the adverse effect of the excise duty on low income households. Using your knowledge of compensating or equivalent variation, show how you would ensure that these households are protected from such a measure. Would Lump sum taxes be better than unit (ad valorem or percentage) taxes in this context?
As the chief economist responsible for managing a social protection program me, here is how I would minimize the adverse effect of the excise duty on low-income households: The If the price of mealie meal increases by more than 100 percent,
To compensate low-income households for this price hike, the government can provide them with a cash transfer, which is a type of social protection. A cash transfer is a payment made directly to households, providing an additional source of income to the household and mitigating the impact of higher food prices on their disposable income. The compensating variation formula can be used to calculate the amount of cash transfer required to restore households’ welfare to the same level as before the price hike.
Compensating variation (CV) is the amount of additional income a household would require to be just as well off after the price hike as they were before it. In other words, the CV is the amount of additional income required to restore the household’s utility to the same level as before the price increase. The formula for calculating the compensating variation is as follows'CV = (Δp x M)/(1+η), where Δp is the percentage increase in the price of mealie meal, M is the household’s expenditure on mealie meal before the price hike, and η is the price elasticity of demand for mealie meal.
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Scenario:
You are employed at an import company (Aerodynamic Inc.) negotiating a purchase for 4 FCL quantity of aircraft components with a prospective seller (L4C) in France. You are still considering the terms under which you would like to purchase and so have requested some options from the seller (supplier)
L4C Challenge Marseille Ever Glory Port of CP Rail CP Intermodal Manitoulin Aerodynamic Inc.
Exports Trucking Port Halifax Vaughan Transport Mississauga, Ontario
Toulouse France Canada
France
Shipping Details/Routing:
The goods (aircraft components) would be loaded into 4 full containers at L4C Exports warehouse in Toulouse and would be picked up by Challenge Trucking and delivered to the port terminal of Marseille.
From there, the containers would clear export customs and be loaded on the ship Ever Glory for ocean voyage to the Port of Halifax.
From the Port of Halifax, the goods would go by rail to CP Intermodal Terminal where they would clear import customs.
Once cleared, Manitoulin Transport would pick up from there and deliver the containers to Aerodynamics Inc. in Mississauga, Ontario.
As part of the negotiation process, you are considering different options and need to identify the most suitable incoterm, location and associated purchase price (breakdown of charges below) under each of the given circumstances outlined. Given the nature of the cargo and mode of transportation it is not recommended that goods be shipped uninsured.
Seller’s Cost List: $ CAD
Product (air components) 88,000.00 per FCL
Trucking to Port of Marseille 700.00 per FCL
Loading on Ship in Marseille 465.00 per FCL
Loading of Containers at L4C Exports 900.00 per FCL
Marine Insurance 575.00 per FCL
Import Clearance including Duties & Taxes 6500.00 per FCL
Trucking from CP Intermodal to Aerodynamics in Mississauga 690.00 per FCL
Unloading at Aerodynamics Imports in Mississauga 330.00 per FCL
Export Clearance 92.00 per FCL
Export Packaging 720.00 per FCL
Rail from Halifax to CP Intermodal (including unloading) 900.00 per FCL
Ocean Freight 5900.00 per FCL
Unloading from Ship in Halifax 475.00 per FCL
You (buyer) want the goods delivered unloaded from the ship in Halifax. At that point you will take risk and make all arrangements for carriage and clearance from there.
Incoterm:
Location:
Price:
You (buyer) want the goods delivered to and unloaded at Vaughan Intermodal Terminal, where you will assume all costs and risk from there to Aerodynamic in Mississauga.
Incoterm:
Location:
Price:
You (buyer) have determined that the exporter doesn’t have great freight rates. You prefer to have the exporter make the goods available and cleared for export. You will take care of the rest.
Incoterm:
Location:
Price:
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 exporter to deliver the goods to the Vaughan Intermodal warehouse. You will arrange for your own cargo insurance, and risk will be transferred when the goods are given to Challenge Trucking.
Incoterm:
Location:
Price:
You (buyer) want the exporter to load the goods onto the carrier Challenge Trucking. You will accept risk for the goods once they are in possession of Challenge Trucking and you will make all the necessary arrangements to bring them to Aerodynamic Mississauga.
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:
You (buyer) want the goods delivered to Aerodynamic in Mississauga, at that point you will assume risk for unloading them and you will handle all import clearance.
Incoterm:
Location:
Price:
The Incoterms, Location, and associated purchase price breakdown of charges are as follows:Incoterm: FCA (Free Carrier)Location: MarseillePrice:
Product (air components): $88,000.00 per FCLTrucking to Port of Marseille: $700.00 per FCL
Loading on Ship in Marseille: $465.00 per FCLLoading of Containers at L4C Exports: $900.00 per FCL
Export Packaging: $720.00 per FCLExport Clearance: $92.00 per FCLTotal cost: $91,877.00 per FCL
Incoterm: CFR (Cost and Freight)Location: Vaughan Intermodal TerminalPrice:Product (air components): $88,000.00 per FCLTrucking to Port of Marseille: $700.00 per FCL
Loading on Ship in Marseille: $465.00 per FCLLoading of Containers at L4C Exports: $900.00 per FCL
Marine Insurance: $575.00 per FCLExport Clearance: $92.00 per FCL
Export Packaging: $720.00 per FCLRail from Halifax to CP Intermodal (including unloading): $900.00 per FCLUnloading from Ship in Halifax: $475.00 per FCL
Total cost: $92,927.00 per FCLIncoterm: FAS (Free Alongside Ship)Location: MarseillePrice:Product (air components): $88,000.00 per FCL
Loading on Ship in Marseille: $465.00 per FCLLoading of Containers at L4C Exports: $900.00 per FCL
Marine Insurance: $575.00 per FCLImport Clearance including Duties & Taxes: $6,500.00 per FCL
Export Clearance: $92.00 per FCLExport Packaging: $720.00 per FCLTotal cost: $96,252.00 per FCL
Incoterm: CIF (Cost, Insurance, and Freight)Location: MarseillePrice:Product (air components): $88,000.00 per FCLTrucking to Port of Marseille: $700.00 per FCL
Loading on Ship in Marseille: $465.00 per FCLLoading of Containers at L4C Exports: $900.00 per FCL
Marine Insurance: $575.00 per FCLImport Clearance including Duties & Taxes: $6,500.00 per FCL
Export Clearance: $92.00 per FCLExport Packaging: $720.00 per FCLTotal cost: $97,952.00 per FCL
Incoterm: Ex WorksLocation: L4C Exports warehouse in ToulousePrice:Product (air components): $88,000.00 per FCLLoading of Containers at L4C Exports: $900.00 per FCL
Export Packaging: $720.00 per FCLExport Clearance: $92.00 per FCLTotal cost: $89,712.00 per FCLIncoterm: FOB (Free on Board)Location: MarseillePrice:Product (air components): $88,000.00 per FCLLoading on Ship in Marseille: $465.00 per FCLLoading of Containers at L4C Exports: $900.00 per FCL
Export Packaging: $720.00 per FCLExport Clearance: $92.00 per FCLTotal cost: $89,177.00 per FCLIncoterm: DDP (Delivered Duty Paid)Location: Aerodynamic Inc. in Mississauga
Price:Product (air components): $88,000.00 per FCLTrucking to Port of Marseille: $700.00 per FCLLoading on Ship in Marseille: $465.00 per FCLLoading of Containers at L4C Exports: $900.00 per FCLMarine Insurance: $575.00 per FCLImport Clearance including Duties & Taxes: $6,500.00 per FCLTrucking from CP Intermodal to Aerodynamics in Mississauga: $690.00 per FCLUnloading at Aerodynamics Imports in Mississauga: $330.00 per FCLExport Clearance: $92.00 per FCLExport Packaging: $720.00 per FCLRail from Halifax to CP Intermodal (including unloading): $900.00 per FCLUnloading from Ship in Halifax: $475.00 per FCLTotal cost: $100,447.00 per FCLIncoterm: DAP (Delivered at Place)Location: Aerodynamic Inc. in MississaugaPrice:Product (air components): $88,000.00 per FCLTrucking to Port of Marseille: $700.00 per FCLLoading on Ship in Marseille: $465.00 per FCLLoading of Containers at L4C Exports: $900.00 per FCLMarine Insurance: $575.00 per FCLImport Clearance including Duties & Taxes: $6,500.00 per FCLExport Clearance: $92.00 per FCLExport Packaging: $720.00 per FCLRail from Halifax to CP Intermodal (including unloading): $900.00 per FCLUnloading from Ship in Halifax: $475.00 per FCLTotal cost: $98,427.00 per FCL
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Which example is a reasonable analogy for the interconnectedness
and coordination of markets?
A.) Nothing can approximate the market.
B.) the Internet
C.) a large corporation
D.) a college dorm
The example that is a reasonable analogy for the interconnectedness and coordination of markets is option B, "the Internet".
The interconnectedness and coordination of markets can be compared to the internet. There are several similarities between the markets and the internet. They are both networks, and their success depends on the extent of the interconnectivity. A single node or participant can influence other participants and the market itself. The internet, like the market, is open and decentralized, with no single entity in control. Therefore, option B, "the Internet," is a reasonable analogy for the interconnectedness and coordination of markets.
The interconnectedness and coordination of markets is a topic that has been widely debated and discussed. There is no doubt that markets are connected, and their coordination is critical to their success. The extent of the interconnectivity in the markets is what makes them unique. Markets are composed of a network of participants, each with different interests, objectives, and strategies. A single participant can influence other participants and the market itself. In this way, the market is like a network, similar to the internet, where nodes are connected to each other.Both the market and the internet rely on interconnectivity for their success. If a single participant or node is removed or disconnected, the entire network is impacted. The internet and the market are open and decentralized, with no single entity in control. In the internet, there is no central server or control node. In the market, there is no central bank or regulator. Instead, the market is a self-regulating system, where participants coordinate with each other to ensure that the market functions correctly.In conclusion, the example that is a reasonable analogy for the interconnectedness and coordination of markets is option B, "the Internet." Both the market and the internet rely on interconnectivity for their success. They are both open and decentralized systems, with no single entity in control. Their success depends on the extent of the interconnectivity, and the coordination of the participants involved.
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Mill's Methods. Click on the circle for which of Mill's Methods is being used in each of the following lice. eitherAgreement, Difference, Concomitant Variation, Residues or Joint Method). After realizing a loss of $100,000 a department store's chief accountant could suggest only three causes: an excessive number of clerks, increases in utility rates, and damage to merchandise caused by a flood. These expenses were estimated at $25,000, $30,000, and $10,000, respectively. Since no other ordinary sources could be found, the accountant attributed the remaining $35,000 to shoplifting a) Residues b) Agreement c) Difference d) Concomitant Variation
the correct answer is a).Residues. The reason is that the accountant did an analysis of the problem, trying to identify any other ordinary sources that could have caused the loss
Mill's Methods include five different methods that are utilized to determine the actual cause of an event. The five methods include Agreement, Difference, Concomitant Variation, Residues, and Joint Method. In this scenario, the answer is Residues. The reason is that the accountant did an analysis of the problem, trying to identify any other ordinary sources that could have caused the loss, but he could not find any.
He was able to identify some potential causes for the loss, such as the excessive number of clerks, increases in utility rates, and damage to merchandise caused by a flood. However, these causes were estimated to be responsible for only $25,000, $30,000, and $10,000 of the total loss of $100,000.
Therefore, the accountant attributed the remaining $35,000 to shoplifting, which is a residue. This method involves the process of determining the actual cause of an event by eliminating all other potential causes.
Hence, Residues is the correct answer.
The given scenario is an example of Mill's Residues method. Residues involves the process of determining the actual cause of an event by eliminating all other potential causes.
Therefore, when no other ordinary sources can be identified, the remaining source is the actual cause. In this case, after the accountant had eliminated all other potential causes, he concluded that the actual cause of the loss was shoplifting. Thus, the correct answer is a).Residues.
In conclusion, this method is useful in determining the actual cause of an event, especially when there are multiple potential causes, and all of them have been eliminated except one.
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Suppose that in the country of Greatstown, the Federal reserve reduces the reserve requirement. How will this affect the money multiplier? A) lncrease B)No change C)Decrease
When the Federal Reserve reduces the reserve requirement in Greatstown, the money multiplier is likely to increase. Option A.
When the Federal Reserve reduces the reserve requirement in a country like Greatstown, it will likely have an impact on the money multiplier. The money multiplier represents the relationship between the amount of money created by the banking system and the monetary base (reserves) held by the banks.
A lower reserve requirement generally leads to an increase in the money multiplier.
The reserve requirement is the percentage of deposits that banks are required to hold as reserves, either in the form of vault cash or on deposit with the central bank. By reducing the reserve requirement, the central bank allows banks to hold a smaller portion of deposits as reserves and lend out a larger portion of the funds.
When banks have a lower reserve requirement, they can increase their lending activities and create more loans. As loans are made, the money supply expands because each loan creates new deposits in the banking system. This expansion of loans and deposits increases the money multiplier.
The money multiplier is calculated as the reciprocal of the reserve requirement ratio. For example, if the reserve requirement ratio is 10%, the money multiplier is 1/0.10 = 10. If the reserve requirement ratio is reduced to 5%, the money multiplier increases to 1/0.05 = 20.
This means that a given amount of reserves can support a larger amount of loans and deposits, resulting in a higher money supply. Option A is correct.
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Consider a profit-maximizing firm in a competitive industry. Under which of the following situations would the firm choose to produce where MRMC? Instructions: In order to receive full credit, you must make a selection for each option.
The situation in which the firm would choose to produce where MR=MC is when marginal revenue(MR) is equal to marginal cost( MC), option c.
To determine the situation in which a profit-maximizing firm in a competitive industry would choose to produce where marginal revenue equals marginal cost (MR=MC), we need to consider the different scenarios.
a) MR > MC: In this situation, marginal revenue is greater than marginal cost. The firm should continue to increase production until MR=MC because each additional unit produced generates more revenue than it costs to produce. Therefore, the firm would not choose to produce where MR=MC.
b) MR < MC: In this situation, marginal revenue is less than marginal cost. The firm is not maximizing profits because the revenue generated from selling an additional unit is less than the cost of producing it. The firm should decrease production to reach the point where MR=MC and maximize profits. Therefore, the firm would not choose to produce where MR=MC.
c) MR = MC: This is the condition for profit maximization in a competitive industry. When marginal revenue is equal to marginal cost, the firm has reached the optimal level of production. At this point, producing an additional unit would not increase profits because the revenue generated from selling that unit would be equal to its cost of production. Therefore, the firm would choose to produce where MR=MC.
Based on the above analysis, the situation in which the firm would choose to produce where MR=MC is when MR is equal to MC, option c.
Consider a profit-maximizing firm in a competitive industry. Under which of the following situations would the firm choose to produce where MRMC? Instructions: In order to receive full credit, you must make a selection for each option.
(a) MR>MC (b) MR<MC (c) MR=MC
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Industries X and Y both have four-firm concentration ratios of 90 percent, but the Herfindahl index for X is 7,814, while that for Y is 8,206. These data suggest Multiple Choice greater market power in X than in Y. greater market power in Y than in X. O that X is more technologically progressive than Y. that price competition is stronger in Y than in X.
The given concentration ratios and Herfindahl index of Industries X and Y suggest greater market power in Y than in X.
The Herfindahl index is a market concentration metric that calculates the market concentration of a group of suppliers. It is the sum of the squares of the percentage market shares of all the firms that operate in a particular industry. It ranges from 0 to 10,000, with higher values indicating greater concentration.
A four-firm concentration ratio is a ratio that calculates the market share of the four largest firms in an industry. In other words, the percentage of total market share that is controlled by the four biggest firms is the four-firm concentration ratio (CR4).
The data provided for Industries X and Y suggests that both have a 90% four-firm concentration ratio. However, the Herfindahl index is 7,814 for Industry X and 8,206 for Industry Y.
A higher Herfindahl index indicates a greater concentration of market power among fewer companies. Therefore, the higher Herfindahl index of Industry Y suggests greater market power in Y than in X.
Therefore, the correct option is "greater market power in Y than in X."
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Wilson Links Products sells a product that involves two separate performance obligations: the Swing Right golf club weight and the SwingCoach teaching software. SwingRight has a stand-alone selling price of $200. Wilson sells both the SwingRight and the SwingCoach as a package deal for $300. The SwingCoach software is not sold separately. Wilson is aware that other vendors charge $200 for similar software, and Wilson's prices are generally 10% lower than what is charged by those vendors. Wilson estimates that it incurs approximately $115 of cost per copy of the software, and usually charges 50% above cost on similar products. 01:34:40 Estimate the stand-alone selling price of the software using the adjusted market assessment approach. Multiple Choice $100 $180 $58 O $70
Wilson Links Products sells a product that involves two separate performance obligations: the Swing Right golf club weight and the SwingCoach teaching software. is $180..
to estimate the stand-alone selling price of the swingcoach software using the adjusted market assessment approach, we consider the information provided.
first, we know that wilson sells both the swingright golf club weight and the swingcoach software as a package deal for $300. the package price is $100 higher than the stand-alone selling price of the swingright golf club weight, which is $200.
next, we are informed that other vendors charge $200 for similar software. wilson's prices are generally 10% lower than those vendors, so we can calculate the adjusted market price for the software:
adjusted market price = $200 - ($200 * 0.10)adjusted market price = $200 - $20
adjusted market price = $180
however, we also know that wilson usually charges 50% above cost on similar products and incurs approximately $115 of cost per copy of the software.
based on the cost and the markup, we can calculate the estimated selling price of the software:
estimated selling price = cost + (cost * markup)estimated selling price = $115 + ($115 * 0.50)
estimated selling price = $115 + $57.50estimated selling price = $172.50
comparing the adjusted market price of $180 and the estimated selling price of $172.50, we can conclude that the stand-alone selling price of the software using the adjusted market assessment approach is approximately $180.
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A large telecommunications company's real estate holdings include more than 6 million square feet of property. To aid in its more than 400 real estate-related transactions each year, the company contracted the services of a corporate real estate company and a law firm that specialized in corporate real estate. Real estate transactions significantly differ based on type and circumstances unique to each property and property owner. Legal specialists help ensure that each transaction meets its client's risk preferences. The telecommunications company wanted an information system using the Lotus Notes/Domino messaging platform to link it with the real estate firm and the law firm in order to: • Capture common transaction information such as property location, transaction type, business unit, "opposing party," and lead contacts. • Record and report what tasks have been completed, when they were completed, and who completed them. • Allow ad hoc posting of additional, transaction specific information into a common electronic file. Team members quickly found that by taking time to update the system they would reduce miscommunications and interruptions and therefore save time overall. Management liked the system because they could track team members' performance, identify processes open to improvement, and identify project delays before they became costly problems. a. How do these property transactions differ from commodity supply chain transactions? (10Marks) b. What advantage do the real estate company and the law firm gain by adopting their client's technology platform (Lotus Notes/Domino)? (10Marks) c. Find a Lotus Notes/Domino product review on the Web, read it, and report your findings to the class. Your presentation should answer the following questions: Who provided the review? What is the reviewer's relationship to the product? What did the reviewer like? What did the reviewer dislike? What competitors were mentioned in the review? How did Lotus Notes/Domino compare?
a. Property transactions differ from commodity supply chain transactions in several ways. Firstly, which are unique and have distinct characteristics, whereas commodity supply chain transactions deal with standardized products.
Real estate transactions are highly influenced by location, legal considerations, and individual property owners' preferences, while commodity transactions focus on the efficient movement and distribution of standardized goods.
Secondly, property transactions often require legal expertise to ensure compliance with regulations, mitigate risks, and negotiate contracts, while commodity supply chain transactions may involve more straightforward contractual agreements.
Lastly, property transactions can vary significantly in terms of complexity and duration, with multiple stakeholders and unique circumstances for each transaction, whereas commodity supply chain transactions typically follow standardized processes and timelines.
b. The real estate company and the law firm benefit from adopting their client's technology platform (Lotus Notes/Domino) in several ways. Firstly, it provides a centralized and integrated system for capturing and managing transaction information. This allows for better coordination and communication between the client, real estate company, and law firm, leading to improved efficiency and reduced miscommunications.
Secondly, the technology platform enables the recording and tracking of task completion, providing visibility into the progress of each transaction and facilitating accountability.
Lastly, the system allows for the ad hoc posting of transaction-specific information, creating a shared electronic file where all relevant parties can access and contribute information, enhancing collaboration and reducing the need for separate communication channels.
c. As an AI language model, I cannot browse the web or provide real-time reviews. I apologize for the inconvenience. However, you can search for product reviews of Lotus Notes/Domino on reputable technology review websites or platforms to gather information on reviewer perspectives, likes, dislikes, and comparisons with competitors.
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Bahrain Company makes snow blowers. It has two departments that process all products: Assembly and Testing. The following data pertain to be Ahly departmen Duvet materials are added at the beginning of the process and conversion costs are uniformly incurred. The degree of completion of conversion cost is as follows At the beginning of September, work in process is 40% complete and at the end of the month work in process is 60% complete. Other data for the mouth include Beginning work-in-process inventory 3,200 units 4,000 units Units started Units completed 6,400 units Ending work-in-process inventory 7 Conversion costs for September $400,000 Direct materials cost for September $520,000 Beginning work-in-process costs: Materials $308,000 Conversion $164,160 Required: a) Prepare a production cost schedule for the Assembly Department at the end of September using the weighted average method of process costing (9 marks) b) Prepare the necessary journal entries. (3 marks)
a) Production cost schedule for the Assembly Department at the end of September: Units completed = 6,400 units ,Ending work-in-process inventory = 400 units (60% complete). Degree of completion: Beginning work-in-process inventory = 40% complete, Ending work-in-process inventory = 60% complete.
Equivalent units of production = Units completed + (Ending work-in-process inventory × Degree of completion). Equivalent units of production = 6,400 units + (400 units × 60%). Therefore, Equivalent units of production = 6,640 units. Cost per equivalent unit: Direct materials cost for September = $520,000, Conversion costs for September = $400,000. Total cost = Direct materials cost + Conversion costs. Total cost = $520,000 + $400,000. Therefore, Total cost = $920,000. Cost per equivalent unit = Total cost / Equivalent units of production. Cost per equivalent unit = $920,000 / 6,640 units. Therefore, Cost per equivalent unit ≈ $138.55 (rounded to the nearest cent).
b) Journal entries to record the production costs: To record the direct materials cost: Debit: Work-in-Process Inventory (Assembly Department) - Direct Materials - $885,760,Debit: Work-in-Process Inventory (Testing Department) - Direct Materials - $34,240,Credit: Raw Materials Inventory - $920,000.To record the conversion costs:Debit: Work-in-Process Inventory (Assembly Department) - Conversion Costs - $557,440,Debit: Work-in-Process Inventory (Testing Department) - Conversion Costs - $22,560, Credit: Manufacturing Overhead - $580,000
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Given K units of capital and L units of labor, a company produces Q = 2K1/2 [1/3 units of its product. Each unit of capital costs $3 and each unit of labor costs $1. The selling price for the product is $3 per unit. What is the maximum profit? A. 4 B. 6 C. 8 D. 12 25. In a market, the inverse supply function is given by på (q) = aq + b for some positive constants a and b. The equilibrium price is 7 and the equilibrium quantity is 2. If the producer surplus is 4, then A. a = 1, b = 5 B. a = 2, b=3 C. a = 3, b=1 D. a = 3, b = 2
the maximum profit of the company is $12.38. Hence, option D is the correct choice. Answer: D. 12.
Given K units of capital and L units of labor, a company produces
Q = 2K1/2 [1/3]
units of its product. Each unit of capital costs $3 and each unit of labor costs $1. The selling price for the product is $3 per unit. What is the maximum profit?We have given the following information, Units of capital, K = kUnits of labor,
L = lProduct produced, Q = 2K1/2 [1/3]
Price of each unit of capital, pK = $3Price of each unit of labor, pL = $1Selling price per unit of product, P = $3Now, we need to find the Maximum ProfitSo, the profit function is given by;
Profit = Total Revenue - Total CostTotal
Revenue = Quantity x Price of the product= Q x P = 3Q
Total Cost = (pK x K) + (pL x L)= 3K + L
Now,Profit = 3Q - (3K + L)Profit = 3 (2K1/2 [1/3]) - (3K + L)
Profit = 6K1/2 [1/3] - 3K - L
Now, we need to maximize the profit using the first-order condition of the profit function.
dProfit/dK = 3K - 3 (2/3) K-2/3= 0 (For Maximum profit)dProfit/dL = -1= 0 (For Maximum profit)3K - 3 (2/3) K-2/3 = 03K = 3 (2/3) K-2/33K5/3 = 2Q = 3K1/2 [1/3]
We have to maximize the profit at
Q = 3K1/2 [1/3]
Then,3K5/3 = 2 x (3K1/2 [1/3])5K5/3 = 24K = (24/5)5/3= 17.7
Units of labor, L = 3K + L = 3(17.7) + 1 = 53.1
Maximum Profit = Profit (at K = 17.7, L = 53.1)
Maximum Profit = 6K1/2 [1/3] - 3K - L= 6 x (17.7)1/2 [1/3] - 3 x 17.7 - 53.1= $12.38
Therefore, the maximum profit of the company is $12.38. Hence, option D is the correct choice. Answer: D. 12.
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f If the Australian dollar depreciates, the effect of this is likely to be: Select one: O a. 'imported inflation' may become a problem. Ob. all of the above. O c. exports will be cheaper. O d. imports will be more expensive. O e. import-competing domestic goods will be relatively cheaper.
If the Australian dollar depreciates, the effect of this is likely to be that imports will be more expensive. What is the meaning of depreciation?
Depreciation refers to the decline in value of a currency relative to other currencies. The opposite of depreciation is an appreciation. So if a currency appreciates, it implies it's gaining value relative to other currencies. When the Australian dollar depreciates, it implies that it becomes weaker against other currencies. In other words, one Australian dollar is worth less compared to other currencies.
This impacts the exchange rate and affects trade between the country and other countries. When imports become more expensive, it reduces the demand for goods and services from other countries since buyers have to spend more to purchase the same products. Therefore, a decline in imports can have a negative impact on domestic consumers who will have to pay higher prices.
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When considering the "golden age" of productivity growth in the U.S. economy (1948-1943), the industry outside of manufacturing making the largest contribution to overall productivity growth was A. transportation B. finance and insurance C. mining D. construction . 60. Over the course of an economic expansion or boom we typically see GDP growth that is the inflation rate and the unemployment rate A. positive; decrease; increase B. positive; increase; decrease C. negative; increase; increase D. constant, increase; increase
during a period of economic expansion or boom, GDP growth is positive and unemployment decreases. Therefore, option A is the correct answer.
When considering the "golden age" of productivity growth in the U.S. economy (1948-1943), the industry outside of manufacturing making the largest contribution to overall productivity growth was finance and insurance. The correct option is B. 60. Over the course of an economic expansion or boom we typically see GDP growth that is positive; decrease; increase; that is option A is correct. Explanation: According to historical data, it can be concluded that during the golden age of economic growth in the United States from 1948 to 1973, manufacturing was the largest contributor to the overall productivity growth of the U.S. economy. However, when considering the period between 1948 and 1965, the industry outside of manufacturing making the largest contribution to overall productivity growth was finance and insurance. This industry had the highest impact on overall productivity growth in the U.S. economy during the golden age of economic growth in the United States. The growth of Gross Domestic Product (GDP) is one of the essential elements of economic expansion or boom. Generally, during a period of economic expansion or boom, GDP growth is positive and unemployment decreases. Therefore, option A is the correct answer.
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1. The form helps avoid limited agency if the agent already has a buyer contract. (a) Exclusive Buyer-Broker Agreement (b) For Sale by owner Commission Agreement (C) Non-Exclusive Buyer-Broker Agreement (d) Seller-Broker Agreement 2. Large companies can use their own form if they are prepared by (a) an agent (b) an attorney (C) a broker (d) a brokerage firm form is used. 3. If the listing agent is also the agent of the buyer, the (a) Non-Exclusive Buyer-Broker Agreement (b) Limited Agency Consent Agreement (c) Exclusive Buyer-Broker Agreement (d) For Sale by owner Commission Agreement 4. If a brokerage firm wants its own Exclusive Buyer-Broker Agreement form, the brokerage firm can (a) hire an attorney to draft the form (b) prepare the form (C) submit a request to the state (d) create and draft the form
1. The form helps avoid limited agency if the agent already has a buyer contract.(C) Non-Exclusive Buyer-Broker Agreement .2. Large companies can use their own form if they are prepared by(b) an attorney (3) (b) Limited Agency Consent Agreement (4) option (a) is the correct answer.
Explanation: Non-Exclusive Buyer-Broker Agreement is a form that helps avoid limited agency if the agent already has a buyer contract.2. Large companies can use their own form if they are prepared by(b) an attorneyExplanation:Large companies can use their own form if they is prepared by an attorney.3. If the listing agent is also the agent of the buyer, the(b) Limited Agency Consent Agreement Explanation:If the listing agent is also the agent of the buyer, the Limited Agency Consent Agreement form is used.4. If a brokerage firm wants its own Exclusive Buyer-Broker Agreement form, the brokerage firm can(a) hire an attorney to draft the form Explanation:If a brokerage firm wants its own Exclusive Buyer-Broker Agreement form, the brokerage firm can hire an attorney to draft the form as the attorney is qualified to draft legal documents in compliance with the state and local regulations. Therefore, option (a) is the correct answer
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Have you ever experienced giving a live presentation to a contentious audience? One where persons were interrupting you, being rude, or creating controversy. It’s an uncomfortable feeling. Discuss a time when you or a co-worker gave a presentation to a hostile audience. Provide context to the presentation so we know about the issues or issues. What was done to mitigate the situation? What do experts recommend you do in this case?
Handling a hostile audience during a live presentation requires remaining composed, addressing concerns respectfully, and actively listening to the audience.
One example of a presentation to a hostile audience could involve a co-worker presenting a new company policy to a group of employees who strongly disagreed with the changes. The contentious issues could revolve around changes in working hours, responsibilities, or compensation. As the presentation commenced, several attendees became disruptive, interrupting with loud objections and displaying rude behavior.
To mitigate the situation, it is important to remain calm and composed. The presenter could acknowledge the concerns raised by the audience and address them respectfully. This approach helps defuse tensions and shows a willingness to engage in a constructive dialogue. The presenter could also set ground rules for the audience, emphasizing the need for respectful behavior and stating that everyone's opinions will be heard.
Experts recommend several strategies to handle hostile audiences effectively. These include:
Preparation: Thoroughly researching the topic, understanding the concerns of the audience, and anticipating potential objections can help in addressing them proactively.Engaging with empathy: Demonstrating empathy towards the audience's concerns and actively listening to their viewpoints can help build rapport and foster a more constructive atmosphere.Establishing common ground: Finding shared values or goals with the audience can create a basis for productive discussion and problem-solving.Redirecting negative energy: Instead of engaging in confrontations, redirecting negative energy by focusing on the agenda, highlighting facts, and maintaining a positive demeanor can help steer the discussion back on track.Allowing questions and feedback: Encouraging questions and feedback shows a willingness to address concerns and can help dissipate hostility.Utilizing visual aids and storytelling: Engaging visuals and compelling storytelling techniques can captivate the audience's attention and help convey the message more effectively.Learn more about company policy here:
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which of the following will lead to an increase in the demand for loanable funds in the united states? which of the following will lead to an increase in the demand for loanable funds in the united states? a decrease in the real interest rate in the united states an increase in the supply of loanable funds in other countries an increase in u.s. government borrowing an increase in household savings
An increase in the demand for loanable funds in the United States can be caused by several factors. This is because it is an economy and the demand for loanable funds changes from time to time.
Among the factors that can cause an increase in the demand for loanable funds in the United States are:
a decrease in the real interest rate in the United States: Interest rates are a major determinant of the demand for loanable funds. A decrease in the interest rates will lead to a decline in the cost of borrowing and an increase in the demand for loanable funds. As the cost of borrowing goes down, more people and firms will be interested in borrowing and investing in various sectors of the economy, hence an increase in the demand for loanable funds.
An increase in the supply of loanable funds in other countries: A high supply of loanable funds in other countries means that there will be a high demand for investments in the United States. This will result in an increase in the demand for loanable funds in the United States.
An increase in U.S. government borrowing: An increase in government borrowing will lead to a decline in the supply of loanable funds and an increase in the demand for loanable funds. The government will borrow from the public to finance various projects, hence increasing the demand for loanable funds.
An increase in household savings: An increase in household savings will lead to a decrease in the supply of loanable funds and an increase in the demand for loanable funds. As households save more, they will lend less, hence decreasing the supply of loanable funds. This will lead to an increase in the demand for loanable funds.
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On the first day of the fiscal year, a company issues a $939,000, 12%, 10-year bond that pays semiannual interest of $56,340 ($939,000 x 12% x 1/2), receiving cash of $986,000. Journalize the entry to record the first interest payment and amortization of premium using the straight-line method. If an amount box does not require an entry, leave it blank. Interest Expense Premium on Bonds Payable Cash
The entry to record the first semi-annual interest payment and amortization of the bond premium is shown below:
Date Accounts Debit Credi interest Expense $54,290
Premium on Bonds Payable$2,050
Cash$56,340
The cash received was $986,000
The bond premium is the difference between the face value and the cash received ($986,000 - $939,000 = $47,000).
Since the bond has a maturity of 10 years and pays semi-annual interest, there are 20 interest periods.
Annual interest payment = $939,000 x 12% = $112,680
Semi-annual interest payment = $112,680 / 2 = $56,340Straight line bond premium amortization = Bond premium / Interest payments = $47,000 / 20 = $2,350
The journal entry to record the issuance of the bond is shown below:
Date Accounts Debit Credit Cash $986,000
Bonds Payable$939,000Premium on Bonds Payable$47,000
The entry to record the first semi-annual interest payment and amortization of the bond premium is shown below:
Date Accounts Debit Credi interest Expense $54,290
Premium on Bonds Payable$2,050
Cash$56,340
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42) After a column is sorted in ascending or descending order, a small arrow displays on the Sort button to indicate the sort order. True O False 43) The header row is not included in calculations applied within the total row. True O False 44) You must insert footers in worksheets separately from inserting them in chart sheets. True O False 46) Within an Excel worksheet, data formatted as a table can be managed independently from the data in the other rows and columns in the worksheet. O True O False
42) After a column is sorted in ascending or descending order, a small arrow displays on the Sort button to indicate the sort order. This statement is true.
The arrow displays in the direction of the sort order, whether in ascending or descending order. It helps you know how the column is sorted.
43) The header row is not included in calculations applied within the total row. This statement is false. The header row is usually part of the total row calculations when using the total row. It is included in the calculations for the entire table.
44) You must insert footers in worksheets separately from inserting them in chart sheets. This statement is false. Footers can be added to a worksheet and a chart sheet. They can be added to one or both types of sheets. It is not necessary to do it separately.
46) Within an Excel worksheet, data formatted as a table can be managed independently from the data in the other rows and columns in the worksheet. This statement is true. A table is an object in Excel that can be managed separately from the rest of the data in the worksheet. It has unique features such as filtering, sorting, and styling options.
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Explicit and implicit costs: Juan and Julia contributed $50,000 of their own money to the company They bought equipment for $3,000 They hired an employee with a salary of $20,000 Juan quit his job where he earned $30,000 Julia quit part of her job where she earned $15,000 Purchases of materials for the business were $10,000 At the end of the year the value of the equipment is $28,000 · A business loan of $100,000 pays 6% annual interest Based on the data, what is the implicit cost?
the implicit cost in the given scenario is $45,000.
Explicit and implicit costs: Juan and Julia contributed $50,000 of their own money to the company They bought equipment for $3,000
They hired an employee with a salary of $20,000
Juan quit his job where he earned $30,000
Julia quit part of her job where she earned $15,000
Purchases of materials for the business were $10,000
At the end of the year the value of the equipment is $28,000 ·
A business loan of $100,000 pays 6% annual interest Based on the data, The implicit cost is equal to the income that the partners sacrificed to invest their money into the business. The explicit cost is the money that is actually spent on the business or lost due to its operations. In this case, the implicit cost would be calculated by adding up the amounts that Juan and Julia gave up in order to invest in the business.
In this given scenario:
Juan quit his job where he earned $30,000Julia quit part of her job where she earned $15,000
So, the implicit cost would be:
Implicit cost= Juan's salary + Julia's salary= $30,000 + $15,000= $45,000
Thus, the implicit cost in the given scenario is $45,000.
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1: Categorize the artefacts provided by the consultants into the six general types of the CSVLOD model.
Tips:
Your answer should reflect on the types of artefacts produced by the consultants, the nature of their mandate, the duration of the consultants’ engagement, and their approach to execute the work.
It's important to note that the specific artifacts provided by the consultants will depend on the nature of their mandate, the duration of their engagement, and their approach to executing the work. However, by considering the purpose and nature of the artifacts, we can categorize them into the respective types within the CSVLOD model.
The CSVLOD model categorizes artifacts into six general types based on their nature and purpose. Let's categorize the artifacts provided by the consultants accordingly:
1. Contextual Artifacts: These artifacts provide an understanding of the organization's context, including its goals, vision, mission, and values. Examples of contextual artifacts provided by the consultants may include strategic plans, business requirements documents, or executive briefings outlining the organization's direction and objectives.
2. Stakeholder Artifacts: These artifacts focus on identifying and analyzing stakeholders involved in or impacted by the organization's activities. Consultants may produce stakeholder maps, stakeholder analysis reports, or communication plans that outline strategies for engaging and managing relationships with stakeholders.
3. Value Artifacts: These artifacts capture the value proposition of the organization and its offerings. Consultants may develop value statements, value maps, or customer journey maps to illustrate the value delivered to customers and how it aligns with their needs and preferences.
4. Learning Artifacts: These artifacts represent the knowledge and insights gained throughout the consultant's engagement. Consultants may produce reports, presentations, or documentation summarizing their findings, recommendations, and lessons learned during the project.
5. Operational Artifacts: These artifacts focus on the operational aspects of the organization, including processes, systems, and resources. Consultants may provide process maps, standard operating procedures, or technology assessments to improve operational efficiency and effectiveness.
6. Development Artifacts: These artifacts relate to the development and execution of strategies and initiatives. Consultants may produce project plans, implementation roadmaps, or change management frameworks to guide the organization through the process of executing recommended actions.
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An on-line commercial directory service must decide between composing the ads for its clients in-house or paying a production company to compose them. To develop the ads in-house, the company will have to purchase computers, printers, and a database management system at an estimated cost of $46,500. This equipment will have a useful life of 3 years, after which it will be sold for $2,300. The employee who creates the ads will be paid $69,000 per year. In addition, each ad will have an average cost of $13. Alternatively, the company can outsource development at a flat fee of $21 per ad. At an interest rate of 8% per year, how many ads must the company sell each year for the options to just break even? The number of ads the company must sell for the options to just break even is determined to be
an online commercial directory service that has to choose between creating ads for its clients in-house or outsourcing the production to a production company, the number of ads the company must sell to break even is the break-even quantity.
In-House Expenditure Purchase of Computers, printers, and a database management system: $46,500.00. Useful life: 3 years Selling price after 3 years: $2,300.00Salary to employee who creates ads per year: $69,000.00Average ad cost: $13.00.
Step 1: Determine the annual cost of the In-House optionPurchase of computers, printers, and a database management system: $46,500.00 / 3 = $15,500.00Depreciation per year = $46,500.00 - $2,300.00 / 3 = $14,733.33Salary to employee who creates ads per year: $69,000.00Cost of the ad (13 per ad): $13.00x = Total cost (Annual): 15500 + 14733.33 + 69000 + 13x = $98,233.33 + 13x
Step 2: Calculate the Break-Even Point Break even point = Total Cost / Revenue per ad $98,233.33 + 13x = xRPx = $98,233.33 / (RP - $13)If the cost per ad for outsourcing is $21, and the revenue per ad is RP, then the equation will be:For outsourcing option: $21x = xRPx = $98,233.33 / (RP - $21)Now, we have to equate both equations:$98,233.33 / (RP - $13) = $98,233.33 / (RP - $21)$8 = RP - $13RP = $21Thus, the company must sell 7,558 ads per year to break even if they produce ads in-house or sell 4,683 ads per year if they outsource production at a flat rate of $21 per ad.
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QUESTION THREE (20 MARKS)
Estbee Marine finds that it must spend a huge portion of its revenue on purchases. Estbee has also found that the better its suppliers understand its end users, the better are both the supplier’s product and Estbee’s final product.
As one of the 10 largest U.S. power boat manufacturers, Estbee is trying to differentiate its products from the vast number of boats supplied by 300 other companies. Thus, the firm works closely with suppliers to ensure innovation, quality, and timely delivery. Estbee has done a number of things to drive down costs while driving up quality, responsiveness, and innovation. First, working on partnering relationships with suppliers ranging from providers of windshields to providers of instrument panel controls,
Estbee has brought timely innovation at reasonable cost to its product. Key vendors are so tightly linked with the company that they meet with designers to discuss material changes to be incorporated into new product designs. Second, the company has joined about 15 other boat manufacturers in a purchasing group, known as American Boat Builders Association, to work with suppliers on reducing the costs of large purchases. Third, Estbee is working with a number of local vendors to supply hardware and fasteners directly to the assembly line on a just-in-time basis. In some of these cases, Estbee has worked out an arrangement with the vendor so that title does not transfer until parts are used by Estbee. In other cases, title transfers when items are delivered to the property. This practice drives down total inventory and the costs associated with large-lot delivery.
Finally, Estbee works with a personnel agency to outsource part of the recruiting and screening process for employees. In all these cases, Estbee is demonstrating innovative approaches to supply chain management that help the firm and, ultimately, the end user. The Global Company Profile featuring Estbee Marine provides further background on Estbee’s operations.
Required:
What other techniques might Estbee use to improve supply chain management? (10 marks)
Why is supply chain management important to Estbee? (10 marks)
A well-managed supply chain allows Estbee Marine to achieve cost efficiency, enhance product quality and innovation, ensure timely delivery, and mitigate risks. These factors contribute to the company's long-term success in the power boat manufacturing industry. To further improve its supply chain management, Estbee Marine could consider the following techniques:
1. Implementing Technology Solutions: Estbee can adopt advanced supply chain management technologies such as inventory management systems, demand forecasting software, and supplier relationship management tools. These technologies can enhance visibility, automate processes, and enable real-time collaboration with suppliers, resulting in improved efficiency and reduced costs.
2. Continuous Supplier Development: Estbee can engage in long-term partnerships with key suppliers and invest in their development. This can involve sharing market insights, providing training and resources, and collaborating on product innovation. By fostering strong relationships and nurturing supplier capabilities, Estbee can ensure a steady supply of high-quality components and materials.
3. Sustainable Practices: Estbee can incorporate sustainable practices into its supply chain management, such as using eco-friendly materials, optimizing transportation routes to minimize carbon emissions, and promoting ethical sourcing. These initiatives not only align with growing consumer demands for environmentally conscious products but also enhance the company's reputation and competitiveness.
4. Risk Management: Estbee should develop risk management strategies to mitigate potential disruptions in the supply chain. This involves assessing and addressing risks such as supplier bankruptcy, natural disasters, or geopolitical issues. Implementing contingency plans, diversifying suppliers, and maintaining safety stock can help minimize the impact of unforeseen events.
Supply chain management is crucial for Estbee Marine due to several reasons:
1. Cost Efficiency: Effective supply chain management allows Estbee to optimize costs by reducing procurement expenses, minimizing inventory carrying costs, and streamlining production processes. It enables the company to achieve economies of scale and negotiate favorable terms with suppliers, ultimately enhancing its profitability.
2. Quality and Innovation: Close collaboration with suppliers ensures that Estbee receives high-quality components and materials, leading to superior final products. By involving suppliers in the product development process, Estbee can leverage their expertise and foster innovation, resulting in differentiated and competitive offerings.
3. Timely Delivery: Supply chain management enables Estbee to maintain reliable and timely delivery of products to meet customer demand. This improves customer satisfaction, builds trust, and helps Estbee differentiate itself from competitors.
4. Risk Mitigation: By effectively managing the supply chain, Estbee can minimize risks associated with disruptions, such as stockouts, production delays, or quality issues. This enhances operational resilience and ensures continuity of supply, even in challenging circumstances.
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TGD Electronic Center ("TGD") repairs electronic gadgets. It employs two electricians, Shaun and Neil, who are paid weekly every Friday. Each technician earns a total of P600 per day. TGD also owns a small space and leases it to Yulje Siomai House for P5,000 per month. TGD's accounting period ends every September 30. The unadjusted net income of TGD for the year ended September 30, 2021 is PhP25,000. However, TGD has yet to record the adjustments for the following transactions: 1. On June 1, 2021, TGD loaned PhP30,000from Sweet Tooth Bank, evidenced by a 7-month promissory note with 8% interest per annum. 2. On August 28, 2021, TGD repaired several computer equipment of Cha&Cha BPO Co. for a total ofPhP18,500. Cha&Cha BPO Co. has not paid TGD as of the end of September. 3. On September 24, 2021, Shaunand Neil received their wage for work rendered from September 20 to 24. The next payday is October 1, 2021. 4. Yulje Siomai House has not paid the September rent. Question 31 1 Point Total accrued interest expenseas of September 30, 2021 amounted to PBlank 1. Blank 1 Add your answer Question 32 After posting the adjustingentries above, total revenue will increase by PBlank 1. Blank 1 Add your answer Question 33 After posting the adjusting entries above, total expenses will increase by PBlank 1. Blank 1 Add your answer Question 34 The adjusted net income for the year ended September 30, 2021 is PBlank 1. Blank 1 Add your answer Question 35 1 Point If TGD does not prepare the adjusting entries for the transactions above, net income would be understated by PBlank 1.
Question 31: Total accrued interest expense as of September 30, 2021 amounted to P1400. (ANSWER)Interest = Principal × Rate × Time Interest = 30,000 × 8% × 7/12Interest = 1,400Question 32: After posting the adjusting entries above, total revenue will increase by P18,500.
The company has earned revenue worth P18,500 for repairing the computer equipment for Cha & Cha BPO Co. which will be posted to the revenue account. After posting the adjusting entries above, total expenses will increase by P6,400. The company owes interest of P1,400 on the loan taken from Sweet Tooth Bank (interest expense account will be credited).
The wages of Shaun and Neil will be recognized for 4 days, from September 27 to 30, and a total of P2,400 will be paid (wage expense account will be debited). The September rent amounting to P5,000 and the repair expenses for Cha & Cha BPO Co. amounting to P18,500 will be recognized as expenses (rent expense account and repair expense account will be debited).Interest expense = P1,400Wages expense = P2,400Rent expense = P5,000Repair expense = P18,500Total expenses = P27,300 (P20,900 + P6,400)Question 34: The adjusted net income for the year ended September 30, 2021 is P-2,300. Net Income = Total Revenue – Total Expenses Net Income = P25,000 + P18,500 – P27,300Net Income = P-2,800Question 35: If TGD does not prepare the adjusting entries for the transactions above, net income would be understated by P27,300. If TGD does not prepare the adjusting entries for the transactions above, the net income would be overstated by P27,300 because the company has not recognized the accrued interest expense, unpaid rent expense, unpaid repair expense, and unpaid wage expense.
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