Identify every authority cited in the opinion (note that some sources may be cited more than once) and then do the following:
List all primary mandatory authority.
List all primary persuasive authority.
List all secondary persuasive authority.

Answer:

Primary Authorities :

Statues, regulations, jurisdiction, trial court, cases.

Primary Persuasive Authority :

Constitution, legislation.

Secondary Persuasive Authority :

Law review articles, trial courts.

Explanation:

Primary persuasive authority means law. Following a law is mandatory and statute provides the regulation which are required to be followed or else it will be regarded as crime. Secondary persuasive authority is not law but it leads to the law and helps explain the terms and standards of the law.

Which of the following statements about inflation is​ true? A. Inflation is not a problem because it is just another way for the government to collect revenuelong dash an alternative to the income tax or the sales tax. B. Inflation is a tax on spending money. C. Inflation is a tax on holding money. D. Inflation occurs when real GDP grows more rapidly than the quantity of money.

Before reconciling its bank statement, Lauren Cosmetics Corporation's general ledger had a month-end balance in the cash account of $8,250. The bank reconciliation for the month contained the following items:Deposits in transit $870Outstanding checks 645Interest earned 20NSF check returned to bank 220Bank service charge 70Given the above information, what up-to-date ending cash balance should Lauren report at month-end?A. $7,380.B. $8,530.C. $7,980.D. $7,700.

A married couple with only one spouse currently working outside the home plans to retire in several years. An annuity that would be particularly suitable for saving for that retirement would be:_________
a. a straight life annuity on the life of the working spouse,
b. a straight life annuity on the life of the nonworking spouse,
c. a deferred joint and survivor annuity,
d. an immediate joint and survivor annuity.

Wiley Hill opened Hill's Repairs, Inc. on March 1 of the current year. During March, the following transactions occurred and were recorded in the company's books:
1. Wiley invested $41,000 cash in the corporation.
2. Wiley contributed $116,000 of equipment to the corporation.
3. The company paid $3,600 cash to rent office space for the month.
4. The company received $32,000 cash for repair services provided during March.
5. The company paid $7,800 for salaries for the month.
6. The company provided $4,600 of services to customers on account.
7. The company paid cash of $2,100 for monthly utilities.
8. The company received $4,700 cash in advance of providing repair services to a customer.
9. The company paid $6,600 cash in dividends to Wiley. (sole shareholder)
Based on this information, the balance in Stockholders' Equity reported on the Balance Sheet at the end of March would be:
A. $178,200.
B. $173,500.
C. $165,300.
D. $6,800.
E. $29,500.

A dozen eggs cost $0.96 in December 2000 and $1.82 in December 2017. The average wage for workers in private industries was $14.28 per hour in December 2000 and $22.31 in December 2017. By what percentage did the price of a dozen eggs rise

would you recommend that accountants wait until collections are made from customers before recording sales revenue

Suppose that a Country Club is considering what price to charge for adults. They know that if they charge a price of $100 then 70 adults will join and if they charge a price of $120 then 50 adults will join. What is the absolute value of the price elasticity of demand for adults at this Country Club

Despite aggressive campaigns to attract customers with lower mobile phone prices, Telenor- has
been losing large number of monthly subscribers. Management wants to know why so many
customers are leaving Telenor and what can be done to entice them back. Are customers
deserting because of poor customer services, uneven network coverage, or wireless service
charges? How can the company use information systems to help find the answer? What
management decisions could be made using information from these systems?

While all members of the Federal Reserve Board of Governors vote at Federal Open Market Committee (FOMC) meetings, only _________ of the regional bank presidents are members of the FOMC. Which of the following contributes to making the Federal Reserve an independent policymaking body?

a. Its role is written into the U.S. Constitution.
b. There are 12 Federal Reserve banks.
c. Members of the Board of Governors are appointed for 14-year terms.

The market rate of return is 11 percent and the risk-free rate of return is 3 percent. Lexant stock has 3 percent less systematic risk than the market and has an actual return of 12 percent. This stock:

Winner Corporation acquired 80 percent of the common shares and 70 percent of the preferred shares of First Corporation at underlying book value on January 1, 20X9. At that date, the fair value of the noncontrolling interest in First's common stock was equal to 20 percent of the book value of its common stock. First's balance sheet at the time of acquisition contained the following balances:
Total Assets $600,000 Total Liabilities $90,000
Preferred Stock 100,000
Common Stock 150,000
Retained Earnings 260,000
Total Assets $600,000 Total Liabilities and
Equities $600,000
The preferred shares are cumulative and have a 10 percent annual dividend rate and are four years in arrears on January 1, 20X9. All of the $5 par value preferred shares are callable at $6 per share. During 20X9, Shovel reported net income of $100,000 and paid no dividends.
Required information
Based on the preceding information, what is First's contribution to consolidated net income for 20X9?
a. $80,000
b. $100,000
c. $90,000
d. $50,000

Minden Company introduced a new product last year for which it is trying to find an optimal selling price. Marketing studies suggest that the company can increase sales by 5,000 units for each $2 reduction in the selling price. The company’s present selling price is $93 per unit, and variable expenses are $63 per unit. Fixed expenses are $830,700 per year. The present annual sales volume (at the $93 selling price) is 25,500 units.
Required:
1. What is the present yearly net operating income or loss?
2. What is the present break-even point in unit sales and in dollar sales?
3. Assuming that the marketing studies are correct, what is the maximum annual profit that the company can earn? At how many units and at what selling price per unit would the company generate this profit?

Assuming the required-reserve ratio is 20%, after a $5 billion purchase of securities (government bonds) from the non-bank public by the Fed, if all banks make loans until excess reserves equal zero and there are no cash leakages, checkable deposits can expand as a result of new lending by a maximum of _____.

Jack and Jill both love hot coffee. Jack likes to keep his coffee hot during the day while Jill doesn't mind drinking room temperature coffee. Jack is willing to spend more money on a thermos than Jill is willing to spend. This example illustrates the following major limitation of employing the Economic Value Creation framework because:________

a. accounting data focus mainly on tangible assets, which are no longer the most important.
b. accounting data are historical and thus backward-looking.
c. determining the value of a good service through the perspective of a consumers is not a simple task because consumers have different spending habits
d. overall macroeconomic factors such as the unemployment rate, and interest and exchange rates all have a direct bearing on stock prices

During the year, Wright Company sells 500 remote-control airplanes for $120 each. The company has the following inventory purchase transactions for the year. Date Transaction Number of Units Unit Cost Total Cost Jan. 1 Beginning inventory 40 $ 68 $ 2,720 May. 5 Purchase 270 71 19,170 Nov. 3 Purchase 220 76 16,720 530 $ 38,610 Calculate ending inventory and cost of goods sold for the year, assuming the company uses specific identification. Actual sales by the company include its entire beginning inventory, 250 units of inventory from the May 5 purchase, and 210 units from the November 3 purchase.

Which one of these is covered by a specific type of insurance policy?
A.Off grid homes
B. Condominiums
C. Home with more than two stories
D. Homes in rural areas

Life, Inc. experienced the following events in Year 1, its first year of operation: Performed counseling services for $22,000 cash. On February 1, Year 1, paid $15,000 cash to rent office space for the coming year. Adjusted the accounts to reflect the amount of rent used during the year.
Required
Based on this information alone:
a. Record the events under an accounting equation.
TABLE PROVIDED BELOW
a.
Life, Inc.
Effect of Events on the Accounting Equation
Assets = Stockholders’ Equity
Event
Cash
Prepaid Rent
=
Retained Earnings
1. Performed Services 36,000 36,000
2. Prepaid Rent (18,000) 18,000 NA
3. Used Rent (18,000) (18,000)
Totals 18,000 0 = 18,000
b. Prepare an income statement, balance sheet, and statement of cash flows for the 2016 accounting period.
Life, Inc.
Income Statement
For the Year Ended December 31, 2016
Revenue 36,000
Expense 18,000
Net Income 18,000

A corporation has the following account balances: Common stock, $1 par value, $60,000; Paid-in Capital in Excess of Par, $1,300,000. Based on this information, the :_________.
A. legal capital is $1,360,000.
B. number of shares issued are 60,000.
C. number of shares outstanding are 1,360,000.
D. average price per share issued is $22.50.

Assume that the labor market for retail workers is generally unskilled. If a minimum wage is set in the labor market for retail workers and that this minimum wage is above the equilibrium wage in this particular labor market, then __________ .

When a market is in equilibrium, the: multiple choice 1 quantity demanded equals the price. quantity demanded equals the quantity supplied at the market price. quantity demanded equals the quantity supplied and they both equal the price. quantity supplied equals the price. The market for cell phones reaches equilibrium because cell phone sellers have an incentive: multiple choice 2 to decrease quantity and so do cell phone consumers, so the price goes to to equilibrium. for prices to rise and some cell phone consumers will not buy at higher prices, driving the price to equilibrium. to increase quantity and so do cell phone consumers, so the price goes to to equilibrium. for prices to fall and some cell phone consumers only buy at higher prices, driving the price to equilibrium.

The management of Neptune Inc. creates a definite plan of action that will surely create profits for the company. It allocates and sectionalizes its machinery and personnel. The main office is moved to a prime location that helps attract customers and facilitates competitive development. This plan of action helps Neptune Inc. retain its competitive advantage and has also grow as a company.
Which of the following terms does this scenario best illustrate?
a. Strategic tools
b. Functional strategy
c. Business unit strategy
d. Strategic management process

If the efficient market hypothesis is true, price changes are independent and biased. Group of answer choices

Assume the expected return on the market is 6 percent and the risk-free rate is 4 percent. What is the expected return for a stock with a beta equal to 2.00

If ABC’s sales are $1,000,000, while accounts receivable is $100,000, inventory is $45,000, and fixed assets are $132,000, what is ABC’s fixed asset turnover?

When you show property: Ask questions that will sell the home’s specific features. Never show more than 4 homes in one day. Never cancel a scheduled appointment. Be sure to show the prospects at least one home beyond their means to peak their interest.

What is the present value of the annual interest payments on a 10-year, $1,000 par value bond with a coupon rate of 10 percent paid annually, if the yield on similar bonds is 9 percent?

By the 1990s, A. Tourism was possibly the largest single global industry. B. The manufacture of computers and microchips had moved from California to China. C. Cellular telephones outnumbered landline telephones. D. Food continued to be the most important production item.

Sardi Inc. is considering whether to continue to make a component or to buy it from an outside supplier. The company uses 17,000 of the components each year. The unit product cost of the component according to the company's cost accounting system is given as follows:
Direct materials $ 8.20
Direct labor 8.30
Variable manufacturing overhead 1.20
Fixed manufacturing overhead 4.30
Unit product cost $ 22.00
Assume that direct labor is a variable cost. Of the fixed manufacturing overhead, 70% is avoidable if the component were bought from the outside supplier. In addition, making the component uses 2 minutes on the machine that is the company's current constraint. If the component were bought, time would be freed up for use on another product that requires 4 minutes on this machine and that has a contribution margin of $7.00 per unit. When deciding whether to make or buy the component, what cost of making the component should be compared to the price of buying the component?
A) $20.71 per unit.
B) $22.00 per unit.
C) $25.50 per unit.
D) $24.21 per unit.

Private solutions to correct for externalities Consider the following scenario: Suppose that a chicken farm uses a nearby stream to dispose of the wastes released by its chickens. These wastes flow downstream into a lake that has become thick with algae and polluted by the minerals in the waste matter. The local office of a nonprofit environmental organization collects enough donations to fund a campaign to stop the farm's pollution. Which of the following types of private solutions to the externality of pollution has occurred in this case?A. Integration of different types of businessesB. ContractsC. Moral codes and social sanctionsD. Charities

Prime Cost, Conversion Cost, Preparation of Income Statement: Manufacturing Firm Kildeer Company makes easels for artists. During the last calendar year, a total of 32,000 easels were made, and 33,000 were sold for $56 each. The actual unit cost is as follows: Direct materials $13.00 Direct labor 5.00 Variable overhead 8.00 Fixed overhead 16.00 Total unit cost $42.00 The selling expenses consisted of a commission of $1.10 per unit sold and advertising co-payments totaling $93,500. Administrative expenses, all fixed, equaled $176,000. There were no beginning and ending work-in-process inventories. Beginning finished goods inventory was $155,400 for 3,700 easels.Required:1. Calculate the number and the dollar value of easels in ending finished goods inventory.Ending units Dollar amount $FeedbackRemember that cost of goods manufactured increases finished goods inventory.2. Prepare a cost of goods sold statement.Kildeer CompanyStatement of Cost of Goods SoldFor the Year Ended December 31Cost of goods manufactured $Add: Beginning finished goods inventory Cost of goods available for sale $Less: Ending finished goods inventory Cost of goods sold $