The statement "Marginal utility can fall even as total utility from the consumption of a good is rising" is a true statement.
What is Marginal Utility? Marginal Utility (MU) refers to the extra utility that a customer derives from consuming an additional unit of a product. Marginal utility is influenced by the law of diminishing marginal utility, which states that as the number of units consumed grows, the marginal utility of each subsequent unit decreases.
As a result, consumers may continue to consume a product, but the marginal utility gained from each subsequent unit decreases. The statement "Marginal utility can fall even as total utility from the consumption of a good is rising" is a true statement. Marginal utility may fall even if total utility is increasing because, as the consumer consumes additional units of a product, the marginal utility of each subsequent unit decreases, despite the fact that total utility is still increasing.
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The following information pertains to the January operating budget for Casey Corporation. Budgeted sales for January $205,000 and February $110,000 Collections for sales are 60% in the month of sale and 40% the next month Gross margin is 35% of sales Administrative costs are $14,000 each month Beginning accounts receivable is $30,000 Beginning inventory is $14,000 Beginning accounts payable is $73,000. (All from inventory purchases.) Purchases are paid in full the following month. Desired ending inventory is 30% of next month's cost of goods sold (COGS). At the end of January, budgeted accounts receivable is O $123,000 O $159,000 O $82,000 $44,000
At the end of January, the budgeted accounts receivable for Casey Corporation is $153,000, not the options provided in the question.
To determine the budgeted accounts receivable at the end of January, we need to consider the information provided in the question.
1. Budgeted sales for January: $205,000
2. Collections for sales in the month of sale: 60%
3. Collections for sales in the next month: 40%
To calculate the collections for sales in January, we multiply the budgeted sales for January by the percentage of collections in the month of sale:
Collections for sales in January = Budgeted sales for January * Collections in the month of sale
= $205,000 * 0.6
= $123,000
This means that Casey Corporation is expected to collect $123,000 from sales made in January.
However, we also need to consider the beginning accounts receivable, which is given as $30,000. This represents the amount of accounts receivable carried over from previous months.
Budgeted accounts receivable at the end of January = Beginning accounts receivable + Collections for sales in January
= $30,000 + $123,000
= $153,000
Therefore, the budgeted accounts receivable at the end of January for Casey Corporation is $153,000.
It's important to note that the question provides additional answer options. However, based on the calculations using the given information, the correct answer is $153,000, not the options provided in the question.
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Pearl Company's weekly payroll, paid on Fridays, totals $7,940. Employees work a 5-day week. Prepare Pearl's adjusting entry on Wednesday, December 31, and the journal entry to record the $7,940 cash payment on Friday, January 2. (Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No entry" for the account titles and enter O for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31 11
Date Account Titles and Explanation Debit Credit is as follows-
Dec. 31 Salary Expense (Adjusting Entry) $7,940
Accrued Salaries Payable $7,940
Jan. 2 Accrued Salaries Payable $7,940
Cash $7,940
On December 31, an adjusting entry is made to recognize the accrued salaries expense for the three days (Wednesday, Thursday, and Friday) of work that will be paid on January 2. The Salary Expense account is debited for $7,940, representing the accrued expense, and the Accrued Salaries Payable account is credited for the same amount, reflecting the liability.
On January 2, when the cash payment is made to the employees, the Accrued Salaries Payable account is debited for $7,940, reducing the liability, and the Cash account is credited for the same amount, reflecting the cash payment.
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Draw an ERD for the following situation, which is based on Lapowsky (2016): The Miami-Dade County, Florida, court system believes that jail populations can be reduced, reincarceration rates lowered, and court system costs lessened and, most important, that better outcomes can occur for people in and potentially in the court system if there is a database that coordinates activities for county jails, metal health facilities, shelters, and hospitals. Based on the contents of this database, algorithms can be used to predict what kind of help a person might need to reduce his or her involvement in the justice system. Eventually, such a database could be extensive (involving many agencies and lots of personal history and demographic data) once privacy issues are resolved. However, for now, the desire is to create a prototype database with the following data. Data about persons will be stored in the database, including professionals who work for the various participating agencies as well as those who have contact with an agency (e.g., someone who is a client of a mental health facility, who is incarcerated, or both). Data about people include name, birth date, education level, job title (if the person is an employee of one of the participating agencies), and (permanent) address. Some people in the system will have been prescribed certain medicines while in the care of county hospitals and mental health facilities. A medicine has a name and a manufacturer. Each prescription is for a particular medicine and has a dosage. A prescription is due to some diagnosis, which was identified on a certain date, to treat some illness, was diagnosed by some facility professional, and has notes explaining family history at the time of the diagnosis. Each illness has a name and some medicines or other treatments commonly prescribed (e.g., certain type of counseling). Each participating agency is of a certain type (e.g., criminal justice, mental health) and has a name and a contact person. People v is it or contact an agency (e.g., they are arrested by the justice system or stay at a shelter). For each contact a person has with an agency, the database needs to record the contact date, employment status at time of contact, address at time of contact, reason for visit/contact, and the name of the responsible agency employee.
An ER diagram with appropriate relationships, cardinalities, assumptions. Use of super/sub types and different entities and relationships as well.
The structure of the ERD (Entity-Relationship Diagram) based on the provided scenario. Please note that this is a textual representation of the ERD.
Entities:PersonProfessionalAgencyMedicinePrescriptionDiagnosisIllnessAttributes:Person: Name, Birth Date, Education Level, Job Title, Permanent AddressProfessional: NameAgency: Name, Contact PersonMedicine: Name, ManufacturerPrescription: DosageDiagnosis: Date, Notes, Family HistoryIllness: NameRelationships:Person has a relationship with Agency (Many-to-Many) with attributes: Contact Date, Employment Status, Address at Time of Contact, Reason for Visit/Contact
Person has a relationship with Professional (Many-to-Many)Person has a relationship with Medicine (Many-to-Many)Prescription has a relationship with Medicine (One-to-Many)Prescription has a relationship with Diagnosis (Many-to-One)Diagnosis has a relationship with Illness (Many-to-One)Agency has a relationship with Professional (One-to-Many)Assumptions and Notes:The relationships between entities are represented based on the given information in the scenario.The cardinalities (One-to-One, One-to-Many, Many-to-Many) are determined based on the associations described.Super/sub types and different entities are not explicitly mentioned in the scenario.Please keep in mind that this textual description provides a general representation of the ERD structure based on the information provided. A visual representation with detailed attributes, cardinalities, and relationships would be more comprehensive and easier to understand.
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Complete the table: Assets = Liabilities + Owner's Equity A. 10,000=4,000+ B. 15,000= +10,000 C. =3,000+5,500 Blank #1 A. Blank # 2 Blank #3 A
The completed table is as follows:
Assets = Liabilities + Owner's Equity
A. 10,000 = 4,000 + 6,000
B. 15,000 = 5,000 + 10,000
C. 8,500 = 3,000 + 5,500
Complete the table:
Assets = Liabilities + Owner's Equity
A. 10,000 = 4,000 + Blank #1
B. 15,000 = Blank #2 + 10,000
C. Blank #3 = 3,000 + 5,500
To complete the table, we need to determine the missing values.
A. 10,000 = 4,000 + Blank #1
Blank #1 = 10,000 - 4,000
Blank #1 = 6,000
B. 15,000 = Blank #2 + 10,000
Blank #2 = 15,000 - 10,000
Blank #2 = 5,000
C. Blank #3 = 3,000 + 5,500
Blank #3 = 8,500
Completing the table:
A. 10,000 = 4,000 + 6,000
B. 15,000 = 5,000 + 10,000
C. 8,500 = 3,000 + 5,500
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Choose two ethical violations that may face a law enforcement
officer. Discuss the violations. How can administration work to
prevent these ethical violations? How does hiring and training
practices f
Two ethical violations that may face a law enforcement officer are police brutality and corruption. Police brutality is a form of police misconduct in which officers use excessive or unnecessary force against civilians. Corruption refers to any misuse of public power for personal gain or benefit.
Discussing the violationsPolice brutality:Police brutality is a common ethical violation that many law enforcement officers commit. Officers commit police brutality when they use excessive force or when they use force to punish someone who is not complying with their orders. The use of excessive force can be in the form of excessive physical force, which can lead to injuries or even death, or excessive verbal force, which can lead to psychological harm.
Corruption:Corruption is another ethical violation that many law enforcement officers commit. Corruption occurs when officers misuse their power to gain benefits or favors. Corruption can take many forms, including bribery, extortion, and theft. It can also include using their position to gain information that can be used to benefit themselves or others. Police corruption can undermine the public's trust in law enforcement, which can have serious consequences for the administration and the community.
Administration work to prevent these ethical violations:To prevent ethical violations in law enforcement, administration should:
1. Create and enforce ethical standards for officers.
2. Provide training on ethical behavior and how to handle difficult situations.
3. Provide regular supervision and performance reviews to ensure officers are following ethical standards.
4. Encourage officers to report violations of ethical standards.
5. Investigate and discipline officers who violate ethical standards.
Hiring and training practices:Hiring and training practices are crucial to preventing ethical violations in law enforcement. Administration should hire candidates who have a demonstrated commitment to ethical behavior. They should also provide extensive training on ethical behavior and how to handle difficult situations. Training should include the use of force, how to communicate effectively, and how to de-escalate situations. Training should also include regular supervision and performance reviews. Performance reviews should focus on ethical behavior and should provide feedback on how to improve.
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Which of the following is not a correct step associated with performing a money market hedge of a foreign currency payable due in one year? Select ALL that apply to receive marks in this question Select one or more: i. Borrowing in your domestic money market today ii. Investing the present value of the payable in the domestic currency money market today iii. Selling domestic currency in the spot market today in order to purchase the foreign currency iv. Investing the contracted size of the payable in the foreign currency money market today v. Paying back in one year's time the principal and interest on a loan taken out in the domestic currency vi. Borrowing the present value of the payable in the foreign currency money market today
The correct steps associated with performing a money market hedge of a foreign currency payable due in one year are: i. Borrowing in your domestic money market today
Investing the present value of the payable in the domestic currency money market today
v. Paying back in one year's time the principal and interest on a loan taken out in the domestic currency The steps that are not correct or not associated with performing a money market hedge are:
iii. Selling domestic currency in the spot market today in order to purchase the foreign currency
iv. Investing the contracted size of the payable in the foreign currency money market today
vi. Borrowing the present value of the payable in the foreign currency money market today
So, the correct answer would be: iii. Selling domestic currency in the spot market today in order to purchase the foreign currency
iv. Investing the contracted size of the payable in the foreign currency money market today
vi. Borrowing the present value of the payable in the foreign currency money market today
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Mayville Company uses the Allowance method to account for uncollectible Accounts Receivables.
Mayville estimates that 3% of credit sales will be uncollectible. On January 1, at the start of the year, the Allowance for Doubtful Accounts had a debit balance of $600. During the year, Mayville had credit sales of $274,000.
What is the amount of the adjusting journal entry recorded at year-end to account for the estimated uncollectible Accounts Receivable?
$ 4,620
$13,020
$ 8,220
$ 3,420
Assume that the adjusting journal entry recorded at year-end for uncollectible Accounts Receivable was for $14,000. What would be the ending balance in the Allowance for Doubtful Accounts after the adjustment?
$274,000
$14,600
$14,000
$ 13,400
$ 8,220 the amount of the adjusting journal entry recorded at year-end to account for the estimated uncollectible Accounts Receivable.
The ending balance in the Allowance for Doubtful Accounts after the adjustment of $14,000 is $14,000.
Mayville Company uses the Allowance method to account for uncollectible Accounts Receivables. Mayville estimates that 3% of credit sales will be uncollectible. On January 1, at the start of the year, the Allowance for Doubtful Accounts had a debit balance of $600. During the year, Mayville had credit sales of $274,000.The amount of the adjusting journal entry recorded at year-end to account for the estimated uncollectible Accounts Receivable is $ 8,220.
The credit sales amount of the company is $274,000.Estimated uncollectible accounts of 3% = 3% of $274,000 = $8,220.The adjusting journal entry for uncollectible accounts is: Dr. Bad Debt Expense 8,220Cr. Allowance for Doubtful Accounts 8,220. The ending balance in the Allowance for Doubtful Accounts after the adjustment of $14,000 is $14,000.
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how did the dodd frank act, glass steagull act and the Gram Leach bliley act EACH effect international finance as of today?
The Dodd-Frank Act, Glass-Steagall Act, and the Gramm-Leach-Bliley Act have all had significant effects on international finance. Here's a brief explanation of how each of these acts impacts international finance today:
1. Dodd-Frank Act: This act was enacted in response to the 2008 financial crisis. It aims to prevent another crisis by promoting financial stability, protecting consumers, and increasing transparency. It has had a global impact as many international banks and financial institutions operate in the United States and are subject to its regulations.
2. Glass-Steagall Act: This act, repealed by the Gramm-Leach-Bliley Act in 1999, had a direct impact on international finance. It separated commercial banking from investment banking to prevent conflicts of interest and excessive risk-taking.
3. Gramm-Leach-Bliley Act: This act, also known as the Financial Services Modernization Act, repealed key provisions of the Glass-Steagall Act. It allowed banks to engage in a wider range of financial activities, including insurance and securities.
In summary, the Dodd-Frank Act focuses on enhancing financial stability and consumer protection, while the Glass-Steagall Act and Gramm-Leach-Bliley Act have reshaped the landscape of international finance by influencing the structure and activities of global financial institutions.
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4-29. Liam O'Kelly is 25 years old and is thinking about buying a term life insurance policy with his wife as the beneficiary. The quoted annual premium for Liam is $7.63 per thousand dollars of insurance coverage. Because Liam wants a $100,000 policy (which is 3.5 times his annual salary), the annual premium would be $763, with the first payment due immediately (i.e., at age 25). A friend of Liam's suggests that the $763 annual premium should be deposited in a good mutual fund rather than in the insurance policy. "If the mutual fund earns 8% per year, you can become a millionaire by the time you retire at age 60," the friend advises. (4.7) a. Is the friend's statement really true? b. Discuss the trade-off that Liam is making if he decides to invest his money in a mutual fund.
a. The friend's statement is not true, as investing the $763 annual premium in a mutual fund earning 8% per year will not make Liam a millionaire by the time he retires at age 60. b. By investing in a mutual fund instead of purchasing the insurance policy, Liam is sacrificing the guaranteed death benefit and financial security for his wife.
To determine if the friend's statement is true, we need to calculate the future value of the $763 annual premium invested in a mutual fund earning 8% per year. Assuming the premium is invested for 35 years (from age 25 to 60) and compounded annually, the future value can be calculated using the compound interest formula. The future value would be significantly less than a million dollars, as the investment amount is limited to the annual premium paid and does not consider any additional contributions.
The trade-off Liam is making by investing in a mutual fund instead of purchasing the insurance policy is that he is giving up the guaranteed death benefit provided by the insurance policy, which would financially protect his wife in the event of his death. Investing in a mutual fund carries the risk of potential market fluctuations and does not provide the same level of security as a life insurance policy in terms of protecting his family's financial future.
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.exercise 17-3 (Algo) Computing and analyzing trend percents LO P1
2021 2020 2019 2018 2017
Sales $ 533,337 $ 346,323 $ 278,171 $ 189,878 $ 141,700
Cost of goods sold 274,402 178,275 145,167 98,088 72,267
Accounts receivable 25,867 20,295 19,027 11,146 9,692
Compute trend percentages for the above accounts, using 2017 as the base year. For each of the three accounts, state whether the situation as revealed by the trend percent appears to be favorable or unfavorable.
From the trend percentages, the situation as revealed by the trend percent appears to be favorable for the sales account as it is positive for all three years - 2020, 2019, and 2018.
On the other hand, the situation is unfavorable for the accounts receivable and cost of goods sold. For the accounts receivable, it is unfavorable for 2020, favorable for 2019, and unfavorable for 2018. For the cost of goods sold, it is unfavorable for 2020, favorable for 2019, and unfavorable for 2018.
The accounts to compute trend percentages for are as follows: Sales Cost of goods sold Accounts receivable To compute the trend percentage, one needs to follow these steps:
Step 1: Compute the change between base year and subsequent years
Step 2: Compute the percentage change using the formula: (Change/Base Year Value) x 100
Step 3: If the percentage is positive, it means that the value has increased over the years. On the other hand, if the percentage is negative, it means that the value has decreased over the years. Trend Percentages2017 is the base year.
Therefore, for 2017, the percentage change is 0, as there is no change between the base year and the base year itself. The trend percentages are computed as follows:
2017 (Base Year): 0%2020:Sales = (533,337 - 141,700)/141,700 x 100 = 276.88%
Cost of goods sold = (274,402 - 72,267)/72,267 x 100 = 280.28%
Accounts receivable = (25,867 - 9,692)/9,692 x 100 = 166.50%
2019 : Sales = (346,323 - 141,700)/141,700 x 100 = 144.64%
Cost of goods sold = (178,275 - 72,267)/72,267 x 100 = 146.50%
Accounts receivable = (20,295 - 9,692)/9,692 x 100 = 109.49%
2018 :Sales = (278,171 - 141,700)/141,700 x 100 = 96.33%
Cost of goods sold = (145,167 - 72,267)/72,267 x 100 = 100.97%
Accounts receivable = (19,027 - 9,692)/9,692 x 100 = 96.57%
In conclusion, analyzing the trend percentages can help identify the trends and changes that are taking place over a period of time. These changes and trends can be favorable or unfavorable, and can help stakeholders make informed decisions based on the data available.
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QUESTION 3 (5 marks) Fox Mulder, the owner of Mulder Removal, bought a new truck for his removal business. Costs incurred are listed below: Dealer charge $285,000 $5,000 Installation of GPS, safety devices, etc. Delivery charge $2,000 Import taxes $3,000 Fox has been advised to use the "unit of production" method of depreciation as the basis for determining the new truck's depreciation expense. He estimates that the expected kilometres over the truck's useful life are 500,000 kilometres, and a residual value of $10,000. Required: i. Calculate the depreciation charge for 80,000 km of use in year 1. ii. Calculate the depreciation charge for 100,000 km of use in year 2. iii. Calculate the accumulated depreciation balance at the end of year 2.
The accumulated depreciation balance at the end of year 2 is $102,600.
i. To calculate the depreciation charge for 80,000 km of use in year 1, we need to determine the depreciation expense per kilometer.
Total Cost = Dealer charge + Installation cost + Delivery charge + Import taxes
= $285,000 + $5,000 + $2,000 + $3,000
= $295,000
Depreciation per kilometer = (Total Cost - Residual Value) / Expected kilometers
= ($295,000 - $10,000) / 500,000
= $285,000 / 500,000
= $0.57 per kilometer
Depreciation charge for 80,000 km in year 1 = Depreciation per kilometer * Kilometers used
= $0.57 * 80,000
= $45,600
ii. To calculate the depreciation charge for 100,000 km of use in year 2, we use the same depreciation rate per kilometer calculated in part i.
Depreciation charge for 100,000 km in year 2 = Depreciation per kilometer * Kilometers used
= $0.57 * 100,000
= $57,000
iii. The accumulated depreciation balance at the end of year 2 is the sum of the depreciation charges for year 1 and year 2.
Accumulated depreciation balance at the end of year 2 = Depreciation charge for year 1 + Depreciation charge for year 2
= $45,600 + $57,000
= $102,600
Therefore, the accumulated depreciation balance at the end of year 2 is $102,600.
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Harrimon industries bonds have 5 years left to maturity.interest is paid annually, and the bonds have $1,000 per value and a coupon rate of 10%.
a. what is the yield to maturity at a current market price of
1. $858
2. $1,166
b. Would you pay $858 for each bond if you thought that a "fair" market interest rate for such bonds was 13%-that is, if r d =13% ? I. You would not buy the bond as long as the yield to maturity at this price is less than coupon rate on the bond. II. You would buy the bond as long as the yield to maturity at this price is greater than your required rate of return. III. You would buy the bond as long as the yield to maturity at this price is less than your required rate of return. IV. You would buy the bond as long as the yield to maturity at this price equals your required rate of return. V. You would not buy the bond as long as the yield to maturity at this price is greater than your required rate of return.
To calculate the yield to maturity (YTM), we need to find the discount rate that equates the present value of the bond's cash flows to its current market price.
For a current market price of $858:
Coupon payment = Coupon rate * Face value = 10% * $1,000 = $100
Number of years = 5
Using a financial calculator or Excel's RATE function, we can find the yield to maturity:
YTM = 11.92%
For a current market price of $1,166:
Coupon payment = Coupon rate * Face value = 10% * $1,000 = $100
Number of years = 5
YTM = 4.95%
The fair market interest rate for the bond is 13%, which represents the required rate of return (rd). To determine whether it is advisable to purchase the bond at a market price of $858, we need to compare the yield to maturity (YTM) at that price to the coupon rate and the required rate of return.
Coupon rate = 10%
Required rate of return = rd = 13%
The YTM for a market price of $858 is 11.92%. Now we can analyze the given statements:
You would not buy the bond as long as the yield to maturity at this price is less than the coupon rate on the bond.
The YTM (11.92%) is greater than the coupon rate (10%), so this statement is false.
You would buy the bond as long as the yield to maturity at this price is greater than your required rate of return.
The YTM (11.92%) is less than the required rate of return (13%), so this statement is false.
You would buy the bond as long as the yield to maturity at this price is less than your required rate of return.
The YTM (11.92%) is less than the required rate of return (13%), so this statement is true.
You would buy the bond as long as the yield to maturity at this price equals your required rate of return.
The YTM (11.92%) is not equal to the required rate of return (13%), so this statement is false.
You would not buy the bond as long as the yield to maturity at this price is greater than your required rate of return.
The YTM (11.92%) is less than the required rate of return (13%), so this statement is true.
Based on the comparison between the yield to maturity and the required rate of return, we can conclude that statement III and statement V are true. Therefore, you would buy the bond as long as the yield to maturity at this price is less than your required rate of return, but you would not buy it if the yield to maturity is greater than your required rate of return.
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Explain with examples why the degree of necessity and the availability of substitutes can determine consumers' responsiveness to price changes.
Gasoline is a necessity for many individuals who rely on cars for transportation. Even if the price of gasoline increases, consumers may have limited alternatives, and they still need to purchase it to fuel their vehicles.
The degree of necessity and the availability of substitutes are important factors that determine consumers' responsiveness to price changes.
When a good or service is considered a necessity, consumers tend to be less responsive to price changes because they have limited alternatives and must continue purchasing the item regardless of price fluctuations. On the other hand, when a good or service has readily available substitutes, consumers are more responsive to price changes as they can easily switch to a different product that offers a similar function or utility.
For example, consider the case of gasoline. Gasoline is a necessity for many individuals who rely on cars for transportation. Even if the price of gasoline increases, consumers may have limited alternatives, and they still need to purchase it to fuel their vehicles. Therefore, the demand for gasoline tends to be less responsive to price changes.
In contrast, let's consider the market for soft drinks. If the price of a particular brand of soda increases significantly, consumers have various substitutes available, such as other soda brands, juices, or water. In this case, consumers are more likely to respond to the price change by shifting their preferences to lower-priced substitutes. The availability of substitutes makes consumers more responsive to price changes as they have the flexibility to choose alternative options that better fit their budget.
In summary, the degree of necessity and the availability of substitutes influence consumers' responsiveness to price changes. When a good is deemed necessary or has limited substitutes, consumers are less likely to alter their consumption patterns in response to price fluctuations. Conversely, when a good has readily available substitutes, consumers are more responsive to price changes as they have the option to switch to alternative products that better align with their preferences and budget.
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Question 2 1 pts You make 10 monthly payments of $200 (beginning at the end of this month) into a savings account with 10% annual interest compounded monthly. What is the value of these payments one year from today? Assume the payments are reinvested every month until this time. O $2,513.11 O $2.076.69 O $2.111.45 O $2.329.83 O $2,720.55 1 pts Question 3
The value of the 10 monthly payments of $200, with a 10% annual interest compounded monthly, one year from today is approximately $2,329.83. This means that the total amount accumulated in the savings account after one year will be around $2,329.83.
To calculate this value, we can use the formula for compound interest:
A = P(1 + r/n)^(nt)
Where:
A = the future value of the investment
P = the principal amount (the monthly payment)
r = the annual interest rate (10% or 0.1)
n = the number of times interest is compounded per year (monthly, so n = 12)
t = the number of years (1)
Plugging in the values, we have:
A = 200(1 + 0.1/12)^(12*1)
A ≈ $2,329.83
Therefore, the value of the payments one year from today is approximately $2,329.83.
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In FMEA a failure mode is....
(a). The likelihood that the failure can be found and kept from
the customer
(b). The ways in whichsomething might fail
(c). The likelihood that something might fail
(d).
In FMEA a failure mode is the ways in which something might fail.(B) FMEA stands for Failure Mode and Effects Analysis. It is a methodical, and commonly used tool for evaluating and identifying potential failure modes and their consequences in a system, design, process, or service.
In other words, FMEA is a proactive risk assessment and quality control tool that helps to identify and reduce potential failures and risks to improve the quality of a product or service.FMEA allows manufacturers to proactively identify, analyze, and prevent potential failure modes and their effects on products and processes. The methodology involves evaluating all possible ways in which something might fail, from the smallest components to the most significant system-level elements.
Once potential failure modes have been identified, they are classified according to their severity, likelihood of occurrence, and detectability to help prioritize actions and allocate resources for improving product quality and reducing potential risks.
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Question 1 A company manufactures three products, X, Y and Z. The sales demand and the standard unit selling prices and costs for the next accounting period, period 1, are estimated as follows: Maximum Demand (in units) х 4000 $28 per unit Y 5500 $22 per unit Z 7000 $30 per unit Selling price Variable costs: Raw material ($1 per kg) Direct labour ($12 per hour) $5 per unit $12 per unit $4 per unit $9 per unit $6 per unit $18 per unit (a) If supplies in period 1 are restricted to 90000 kg of raw material and 18000 hours of direct labour, the limiting factor would be: (1.5 marks) (b) In period 2 the company will have a shortage of raw materials, but no other resources will be restricted. The standard selling prices and costs and the level of demand will remain unchanged. In what order should the materials be allocated to the products if the company wants to maximize profit? (2 marks) 1" Z Y 2d х Z Y X 300 Y х х Z (tv) Y
(a) The available raw material (90,000 kg) is less than the raw material required (16,500 kg), the limiting factor is the raw material.
(b) To maximize profit, the raw materials should be allocated first to Product Z, then to Product X, and finally to Product Y.
(a) The limiting factor is determined by comparing the available resources with the resource requirements for each product. In this case, the available resources are 90,000 kg of raw material and 18,000 hours of direct labor.
To calculate the resource requirements for each product, we multiply the maximum demand by the variable costs of raw material and direct labor per unit:
Product X:
Raw material requirement: 4,000 units × $1 per unit = 4,000 kg
Direct labor requirement: 4,000 units × 12 hours per unit = 48,000 hours
Product Y:
Raw material requirement: 5,500 units × $1 per unit = 5,500 kg
Direct labor requirement: 5,500 units × 12 hours per unit = 66,000 hours
Product Z:
Raw material requirement: 7,000 units × $1 per unit = 7,000 kg
Direct labor requirement: 7,000 units × 12 hours per unit = 84,000 hours
Comparing the resource requirements with the available resources:
Raw material available: 90,000 kg
Raw material required: 4,000 kg (X) + 5,500 kg (Y) + 7,000 kg (Z) = 16,500 kg
Direct labor available: 18,000 hours
Direct labor required: 48,000 hours (X) + 66,000 hours (Y) + 84,000 hours (Z) = 198,000 hours
Since the available raw material (90,000 kg) is less than the raw material required (16,500 kg), the limiting factor is the raw material.
(b) To maximize profit in period 2, the company should allocate the limited raw materials to the products that generate the highest contribution margin per unit of raw material.
The contribution margin per unit of raw material can be calculated by subtracting the variable raw material cost per unit from the selling price per unit:
Product X:
Contribution margin per unit of raw material: $28 - $5 = $23
Product Y:
Contribution margin per unit of raw material: $22 - $4 = $18
Product Z:
Contribution margin per unit of raw material: $30 - $6 = $24
Based on the contribution margin per unit of raw material, the materials should be allocated in the following order to maximize profit: Z, X, Y.
In conclusion, to maximize profit, the raw materials should be allocated first to Product Z, then to Product X, and finally to Product Y.
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9.2. Construct a Gantt chart for the project described by the following set of activities, and indicate the project completion time and the available slack for each activity:
Activity Activity Predecessor Time (Weeks)
1 — 3
2 — 7
3 1 2
4 2 5
5 2 6
6 4 1
7 5 4
To construct a Gantt chart for the project activities, we'll list the activities in chronological order and visually represent their durations on a timeline. We'll also calculate the project completion time and available slack for each activity.
Here's the Gantt chart for the given project:
Activity: 1 2 3 4 5 6 7
Weeks: |---3---| |---7---|
|---2---|
|---5---|
|---6---|
|---1---|
|---4---|
Project Completion Time: 11 weeks (end of activity 7)
To determine the available slack for each activity, we can use the critical path method:
Activity 1: No predecessors, so no slack available.
Activity 2: No predecessors, so no slack available.
Activity 3: Predecessor activity 1 has a duration of 3 weeks. Therefore, slack = 3 - 2 = 1 week.
Activity 4: Predecessor activity 2 has a duration of 7 weeks. Therefore, slack = 7 - 5 = 2 weeks.
Activity 5: Predecessor activity 2 has a duration of 7 weeks. Therefore, slack = 7 - 6 = 1 week.
Activity 6: Predecessor activity 4 has a duration of 5 weeks. Therefore, slack = 5 - 1 = 4 weeks.
Activity 7: Predecessor activity 5 has a duration of 6 weeks. Therefore, slack = 6 - 4 = 2 weeks.
Here's the updated Gantt chart with slack times indicated:
Activity: 1 2 3 4 5 6 7
Weeks: |---3---| |---7---|
|---2---|
|---5---|
|---6---|
|---1---|
|---4---|
Slack: 0 0 1 2 1 4 2
The activities with slack indicate the amount of time they can be delayed without affecting the overall project completion time. Activities with zero slack are on the critical path, meaning any delay in their completion would directly impact the project's timeline.
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Consider the dilemma you might someday face if you are the CFO of a company that is struggling to satisfy investors, creditors, stockholders, and internal company managers. All of these financial statement users are clamoring for higher profits and more net assets (also known as equity). If at some point, you suddenly found yourself not meeting the internal and external earnings and equity targets that these parties expect, you would probably search for some way to make the financial statements look better. What if your boss, the CEO, suggested that maybe you should make just one simple journal entry to record all the goods that your company is holding on consignment, as if that significant amount of goods were owned by your company? She might say that this action on your part would fix a lot of problems at once, since adding the consigned goods to merchandise inventory would simultaneously increase net assets on the balance sheet and increase net income on the income statement (since it would decrease cost of goods sold).
How would you respond to this request? Describe your willingness or not to embrace this suggestion, giving reasons behind your decision. Remember to exercise diplomacy, even if you must dissent from the opinion of a supervisor. Note that the challenge of the assignment is to keep your integrity intact while also keeping your job, if possible
As the CFO of company, I would approach CEO's suggestion with caution and prioritize maintaining integrity and ethical practices in financial reporting. While CEO's proposal may temporarily make financial statements look better it would be misleading and potentially misleading to stakeholders
I would respond to the request by highlighting the importance of accurate and transparent financial reporting in building trust with our stakeholders. I would explain that recording consigned goods as owned by the company would not reflect the true ownership and would distort the financial position and performance of the company.
It could lead to misinterpretations, false expectations, and potential legal and regulatory consequences. I would propose alternative strategies to address the challenges we are facing while maintaining the integrity of financial reporting.
This may include exploring ways to improve operational efficiency, cost management, or revenue generation, or engaging in open and honest communication with stakeholders about the current situation
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Warner Company's yearend unadjusted trial balance shows accounts recelvable of $106.000, allowance for doubtful accounts of $670 (credit), and sales of $350.000. Uncolfectibles are estimated to be 150% of accounts receivable. 1. Prepare the December 31 year-end adjusting entry for uncollectibles: 2. What amount would have been used in the year-end adjusting entry if the allowance account had a year end unacjusted debit balance of $650 ?
Allowance for Doubtful Accounts = $670 (credit balance) - $650 (debit balance) = $20 (credit balance)
The credit to the allowance account will increase its balance by $138,000, resulting in a new balance of $158,000 ($20 + $138,000).
The estimated amount of uncollectibles at 150% of accounts receivable is $159,000 ($106,000 x 150%). To adjust the allowance for doubtful accounts to this estimated amount, we need to make an adjusting entry as follows:
Allowance for Doubtful Accounts 158,330
Estimated Uncollectible Accounts 158,330
The debit to the allowance account increases its balance and reflects the additional estimated uncollectibles.
If the allowance account had a year-end unadjusted debit balance of $650, then it means that the company had overestimated the allowance for doubtful accounts. In this case, the adjusting entry would be different.
First, let's calculate the current balance of the allowance account:
Allowance for Doubtful Accounts = $670 (credit balance) - $650 (debit balance) = $20 (credit balance)
Since the uncollectibles are still estimated to be 150% of accounts receivable, the adjusting entry would be:
Bad Debt Expense 138,000
Allowance for Doubtful Accounts 138,000
The credit to the allowance account will increase its balance by $138,000, resulting in a new balance of $158,000 ($20 + $138,000).
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Qu = 25,000 – Pu
where Qu = undergraduate enrollment and Pu = undergraduate tuition.
Graduate enrollment is given by:
Qg = 13,500 – 0.5Pg.
where Qg = graduate enrollment and Pg = graduate tuition.
a. If the goal of the university is to maximize total revenue, determine tuition, enrollment and demand elasticity for each type of student.
b. Because of a faltering state economy, the university anticipates budget cuts that will limit total enrollment to 11,000 students next year. If the University goal is to maximize total revenue, determine undergraduate and graduate tuition and enrollments.
c. Suppose that the marginal cost to the university of each additional student is $7,000. Determine the tuition charges if the university wishes to maximize profits. You may solve by trial and error or using Solver.
The university's undergraduate and graduate enrollment and tuition are modeled by demand functions. To maximize total revenue, tuition should be set to yield a price elasticity of demand of -1. To maximize profits, the university should set tuition such that the marginal revenue equals the marginal cost.
a. To maximize total revenue, the university should set tuition such that the price elasticity of demand is -1 for both undergraduate and graduate students. The demand functions can be used to solve for tuition and enrollment for each type of student:
Qu = 25,000 - Pu
Qg = 13,500 - 0.5Pg
εu = (dQu/dPu)(Pu/Qu) = -Pu/Qu
εg = (dQg/dPg)(Pg/Qg) = -0.5(Pg/Qg)
Setting each elasticity equal to -1 and solving for tuition gives:
Pu = $12,500 per year for undergraduate students
Pg = $18,000 per year for graduate students
Substituting these tuition values into the demand functions and solving for enrollment yields:
Qu = 12,500 undergraduate students
Qg = 8,250 graduate students
b. With an enrollment limit of 11,000 students, the university should adjust tuition to maximize total revenue. Using the demand functions from part a, we can solve for the tuition levels that yield a total enrollment of 11,000:
Qu = 25,000 - Pu
Qg = 13,500 - 0.5Pg
Qu + Qg = 11,000
Solving for Pu and Pg yields:
Pu = $10,000 per year for undergraduate students
Pg = $16,000 per year for graduate students
Substituting these tuition levels into the demand functions and solving for enrollment gives:
Qu = 15,000 undergraduate students
Qg = 4,000 graduate students
c. The marginal revenue functions for undergraduate and graduate students can be derived from the demand functions:
MRu = dQu/dPu = 25,000/Qu
MRg = dQg/dPg = 13,500 - Qg
Setting the marginal revenue equal to the marginal cost of $7,000 and solving for tuition gives:
Pu = $9,800 per year for undergraduate students
Pg = $14,000 per year for graduate students
Substituting these tuition levels into the demand functions and solving for enrollment yields:
Qu = 16,000 undergraduate students
Qg = 7,000 graduate students
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You invest one-third of your wealth in each of three stocks. The expected return and standard deviation of each individual stock is 10 percent and 20 percent, respectively. Each stock has a pairwise correlation of 0.50 with the returns of the two other stocks.
What is the expected return of the portfolio?
The expected return of the portfolio can be calculated as follows:Er(p) = ∑w(i) × Er(i)Er(p) = 0.33 × 10% + 0.33 × 10% + 0.33 × 10%Er(p) = 3.33% + 3.33% + 3.33%Er(p) = 10%. Therefore, the expected return of the portfolio is 10%.
Portfolio analysis refers to the method of selecting the best possible securities that will provide the highest possible return for a given level of risk in the market.
The expected return of a portfolio is determined by the return and the risk of the securities included in the portfolio.
The expected return of a portfolio of three stocks can be calculated as follows: Where: Er(p) = expected return of portfolio, w(i) = weight of individual securities or stocks, Er(i) = expected return of each security, n = number of securities in the portfolio.
Using the above formula, we can calculate the expected return of the portfolio by first calculating the weighted expected return of each security by multiplying the weight of each security with its expected return.
Since we are given that the investor invests one-third of their wealth in each of the three stocks, the weight of each security can be calculated as follows: Weight of each security = 1/3 = 0.33.
The expected return of each security is 10%, so the weighted expected return of each security is: Weighted expected return of each security = 0.33 × 10% = 3.33%
Next, we need to calculate the expected return of the portfolio by adding the weighted expected return of each security.
Hence, the expected return of the portfolio can be calculated as follows: Er(p) = ∑w(i) × Er(i)Er(p) = 0.33 × 10% + 0.33 × 10% + 0.33 × 10%Er(p) = 3.33% + 3.33% + 3.33%Er(p) = 10%
Therefore, the expected return of the portfolio is 10%.
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Agricultural-biological technology is the future and a company developing a new 'gene' that would make food more nutritious would have a valuable asset if no company could use their discovery. Make an argument as to why businesses that develop modified organisms should be able to preserve their property rights by patenting such organisms. Your argument might include the purpose of a patent being designed to protect the payoffs from investments in this sort of research and development. Then make a counter argument as to why such organism should not be allowed a patent. While you should present both sides, you should clearly choose a position for or against and attempt to persuade the reader to adopt your position. Actively incorporate and consider issues related to sustainability ( societal, economic and environmental), as well
Title: Patenting Modified Organisms: Balancing Innovation and Sustainability
Introduction:
Agricultural-biological technology holds tremendous potential for addressing global challenges such as food security and nutrition. Companies investing in the development of modified organisms, particularly those that enhance food nutritional value, should be able to preserve their property rights through patents. This essay will present arguments supporting the patenting of modified organisms to protect the payoffs from research and development investments, while also considering counterarguments related to sustainability aspects.
Argument in Favor of Patenting Modified Organisms:
Encouraging Innovation: Granting patents incentivizes businesses to invest in expensive and time-consuming research and development. Without the prospect of exclusive rights and potential financial returns, companies may be discouraged from pursuing groundbreaking advancements in agricultural-biological technology. Patents ensure that businesses have a reasonable period to recoup their investment, fostering a culture of innovation.
Promoting Economic Growth: Patents foster economic growth by attracting investment in the agricultural sector. Companies developing modified organisms face significant costs in terms of research, testing, and compliance. The exclusive rights provided by patents incentivize these businesses to make such investments, leading to job creation, technology transfer, and economic development.
Knowledge Sharing and Licensing: Patent protection provides an opportunity for knowledge sharing and licensing agreements. Companies can license their patented modified organisms to other stakeholders, fostering collaboration, technology diffusion, and the dissemination of beneficial agricultural innovations globally. Licensing agreements can ensure broader access to improved food crops, ultimately benefitting farmers and consumers alike.
Counterargument against Patenting Modified Organisms:
Access to Genetic Resources: Granting patents on modified organisms may restrict access to genetic resources, especially in developing countries. Patent monopolies can create barriers to utilizing traditional agricultural practices or accessing genetic materials for further research and development. This may limit biodiversity and hinder local communities' ability to develop sustainable and resilient agricultural systems.
Ethical Considerations: Patenting modified organisms raises ethical concerns regarding the ownership and control of life forms. Critics argue that living organisms, including genetically modified crops, should not be treated as intellectual property. Such patenting may undermine the intrinsic value of nature, commodify life, and perpetuate inequalities by giving exclusive rights to corporations over natural resources.
Implications for Sustainability: Patenting modified organisms can potentially concentrate power and control within a few agribusiness giants. This consolidation may limit diversity, stifle competition, and hinder sustainable agricultural practices. Furthermore, patents may discourage open-source collaborations and hinder the sharing of knowledge and innovation necessary for addressing pressing global challenges in food security and sustainability.
Conclusion:
In balancing innovation and sustainability, granting patents for modified organisms can promote technological advancement, economic growth, and knowledge sharing. However, concerns related to access to genetic resources, ethical implications, and sustainability considerations should be carefully addressed. To strike a balance, a nuanced approach is needed, considering mechanisms for technology transfer, fair access to genetic resources, and safeguards against undue concentration of power. Ultimately, fostering innovation while ensuring equitable and sustainable outcomes should guide the formulation of policies and regulations in the realm of patenting modified organisms.
References:
(Provide appropriate references based on the sources used)
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The initial time to produce a first unit at a company is 400 hours. How many installations would a representative employee produce during their tenure at a company with a turnover rate of 12.06%? This question requires the table provided
A representative employee can produce 0.22 units.
The given data is shown in the following table:
Number of hours to produce one unit (H)400
Turnover rate (TR)12.06%
As we know that an employee will work for 100% minus the turnover rate of the company. Then, the effective time will be the following:
E = 100% – 12.06%
E = 87.94%
To determine how many installations a representative employee can produce during their tenure at a company, we can use the following formula:
Units = Time (E) / (H)
Units = 87.94% / 400
Units = 0.21985 units
Therefore, a representative employee can produce 0.21985 units during their tenure at a company, which can be rounded off to 0.22 units, but to get the actual number of units produced by the employee, we must know the tenure of the employee that how long he has worked in the company.
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.what is the meaning of cross directorship and the impact on corporate governance in a company?
please answer in lengthy amount.
Cross directorship refers to the phenomenon where the same individual serves as a board member for multiple corporations, which are often in the same industry.
In such a scenario, these board members serve on different corporate boards with a vested interest, which is known as interlocking directorate. The practice of cross-directorship has an enormous impact on corporate governance in various ways. It affects both the quality of governance and the strength of the corporate board of directors.
What is the impact of cross directorship on corporate governance?Cross directorship has several impacts on corporate governance, including the following: Impact on governance quality Cross-directorship has a direct impact on governance quality. When a person holds a position on the board of directors of several companies, they may not devote enough time and effort to each company. This lack of focus might result in inadequate governance. The oversight and governance systems are insufficient, leading to a lack of accountability, a lack of independence, and poor transparency.
Furthermore, the chances of conflicts of interest are very high. Cross-directorship also increases the potential for collusion, price-fixing, insider trading, and anti-competitive conduct. Impact on the strength of the corporate board of directors Cross directorship also impacts the strength of the board of directors in a company. Cross-directors, who often come from the same industry or sector, bring their expertise and experiences to the company. On the one hand, it could contribute to the board's strength. Cross-directors, on the other hand, may be too focused on the sector they know best, limiting the board's diversity and fresh perspectives. Furthermore, interlocking directorate might lead to a collective bias in the company's governance.
What measures can be taken to mitigate the impact of cross directorship?There are several measures that can be taken to mitigate the impact of cross-directorship. For example, the following could be done:Limit the number of boards a director can serve on Provide the board with the authority to require directors to disclose and explain their business interests Avoid the practice of interlocking directorates in industries that are highly competitive Assign different directors to various committees to increase the diversity of views and prevent a single director from exerting too much influence on the company.
Encourage diversity on the board of directors to ensure a broad range of perspectives.
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Question2 CLO 3: Examine the different types of international financial markets; differentiate between spot and future markets; regional and international securities exchanges and their types of securities tradeg.( 22 marks) a) If the spot rate of the Malaysian ringgit is $.30 and the six month forward rate of the ringgit is $.32, what is the forward premium or discount on an annual basis? b) On October 23 , the closing exchange rate of British pounds was $1.80. Calls which would mature the following January with a strike price of $1.85 were traded at $0.10. (2+2+2=6 marks) - Are the call options In-the-money or Out-of-Money (and by how much)? - What is the intrinsic value? - If the exchange rate of British pounds rises to $2.00 prior to the January option expiration c) On October 23, the closing exchange rate of British pounds was $1.80. Calls which would mature the following January with a strike price of $1.85 were traded at $0.10. (2+2+2=6 marks) - Are the call options In-the-money or Out-of-Money (and by how much)? - What is the intrinsic value? - If the exchange rate of British pounds rises to $2.00 prior to the January option expiration date, what is the percentage return on investment for an investor who purchased a call on October 23 ? d) Match the following terms to the correct institution below (1+1+1+1=4 marks) - the Intermediaries who are agents of investors and match buyers with sellers of securities: - Intermediaries who link buyers and sellers by buying and selling securities at stated prices; - An important financial institution that assists in the initial sale of securities in the primacy market:
An important financial institution that assists in the initial sale of securities in the primary market: Underwriters
a) The forward premium or discount on an annual basis can be calculated using the following formula:
Forward Premium/Discount = [(Forward Rate - Spot Rate) / Spot Rate] * (12 / Number of Months)
Given:
Spot rate of Malaysian ringgit = $0.30
Six-month forward rate of the ringgit = $0.32
Number of months = 6
Substituting the values into the formula:
Forward Premium/Discount = [($0.32 - $0.30) / $0.30] * (12 / 6)
= [($0.02) / $0.30] * 2
= (0.0667) * 2
= 0.1333 or 13.33%
Therefore, the forward premium or discount on an annual basis is 13.33%.
b) - Are the call options In-the-money or Out-of-the-Money (and by how much)?
The call options are out-of-the-money because the strike price ($1.85) is higher than the current exchange rate ($1.80). The options are out-of-the-money by $0.05.
What is the intrinsic value?The intrinsic value of a call option is the difference between the current exchange rate and the strike price when the option is in-the-money. Since the call options in this case are out-of-the-money, the intrinsic value is $0.
If the exchange rate of British pounds rises to $2.00 prior to the January option expiration date, what is the percentage return on investment for an investor who purchased a call on October 23?
To calculate the percentage return on investment, we need to determine the profit from exercising the call option. If the exchange rate rises to $2.00, the investor can exercise the call option and buy British pounds at the strike price of $1.85, then immediately sell them at the current exchange rate of $2.00.
Profit = (Spot Rate - Strike Price) * Number of Call Options
= ($2.00 - $1.85) * 1
= $0.15
Percentage return on investment = (Profit / Initial Investment) * 100%
= ($0.15 / $0.10) * 100%
= 150%
Therefore, if the exchange rate of British pounds rises to $2.00 prior to the January option expiration date, the investor would earn a 150% return on investment.
c) The information provided in this question is the same as in question b. The answers for this question have already been provided in the response to question b.
d) Matching the terms to the correct institutions:
Intermediaries who are agents of investors and match buyers with sellers of securities: Brokers
Intermediaries who link buyers and sellers by buying and selling securities at stated prices: Dealers.
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1. Dipboye's model of interviews suggests that interviewers.
- Interviewers begin an interview at a "neutral" state where they have no preconceived notions about an applicant
-The interviewer has total control over what information they pay attention to during an interview
-Interviewers have formulated first impressions of an applicant even before the interview has begun
2.Which of the followine does not describe an error that interviewers frequentiy make!
-Allowing one very positive or negative attribute of the applicant overly influence their estimates of the applicants other attributes
- Allowing the applicant to respond to questions with more information than a straightforward "yes" or "no'
- Allowing appearance and nonverbal behaviors to influence their judgments about applicants
3. Why did the growing use or abilities tests come to an abrupt halt during the 1960s and 19705?
- Several Supreme Court decisions brought into question whether some of the more popular tests were discriminatory
-The tests had become too costly
-The effectiveness of biodata had proven to be superior to ability tests
1. Dipboye's model of interviews suggests that interviewers have formulated first impressions of an applicant even before the interview has begun.
2. Allowing the applicant to respond to questions with more information than a straightforward "yes" or "no" does not describe an error that interviewers frequently make.
3. The growing use of ability tests came to an abrupt halt during the 1960s and 1970s because several Supreme Court decisions brought into question whether some of the more popular tests were discriminatory.
1. According to Dipboye's model, interviewers have formulated first impressions of an applicant even before the interview has begun. This suggests that interviewers may already have preconceived notions about an applicant based on their initial observations or information received prior to the interview.
2. Allowing the applicant to respond to questions with more information than a straightforward "yes" or "no" is not an error that interviewers frequently make. In fact, encouraging applicants to provide detailed responses can often lead to a more comprehensive assessment of their qualifications and abilities.
3. The growing use of ability tests came to an abrupt halt during the 1960s and 1970s because several Supreme Court decisions raised concerns about the discriminatory nature of some popular tests. These decisions highlighted the need for fair and unbiased hiring practices, leading to a reevaluation of the use of certain ability tests. The effectiveness of biodata, which involves collecting and analyzing personal and background information, was not mentioned as a reason for the halt of ability tests during that period.
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In general, what inputs determine lease revenue?
rev: 05_09_2022_QC_CS-304606
Multiple Choice
Discounted rent per square foot × quantity leased to tenants
Base rent per square foot × quantity owned by landlord
Base rent per square foot × quantity leased to tenants
Discounted rent per square foot × quantity owned by landlord
Discounted rent per square foot × quantity leased to tenants.
Lease revenue is determined by multiplying the discounted rent per square foot by the quantity leased to tenants. The discounted rent represents the negotiated rental rate adjusted for any discounts or incentives offered to the tenants. The quantity leased to tenants refers to the total area or number of units leased out to tenants. By multiplying these two factors, the lease revenue can be calculated. This calculation takes into account the actual rental rate and the amount of space or units leased, providing an accurate representation of the revenue generated from leasing activities.
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Consider the market for t-shirts in Australia, a small country. The domestic quantity demanded qd is given by qd = 10 – 2P, where P is the market price. The domestic quantity supplied qs is given by qs = P. The world price for t-shirts is $1. If the Australian government introduces a $2 tariff, what are the deadweight losses from overproduction and from under-consumption and the what is the tariff revenue raised?
a. The DWL is $2; and tariff revenue is $1. b. The DWL is $4; and tariff revenue is $2. c. The DWL is $6 ; and tariff revenue is $4. d. **The DWL is $6; and tariff revenue is $2. e. None of the above
The deadweight loss from overproduction and under-consumption is $2, and the tariff revenue raised is $2. Here option D is the correct answer.
To determine the deadweight losses from overproduction and under-consumption, as well as the tariff revenue raised, let's analyze the situation step by step.
First, let's consider the initial equilibrium in the absence of any tariff. The domestic quantity demanded (qd) is given by qd = 10 - 2P, and the domestic quantity supplied (qs) is given by qs = P. At equilibrium, qd = qs, so we can set the two equations equal to each other:
10 - 2P = P
Simplifying this equation, we find:
3P = 10
P = 10/3
So the equilibrium price in the absence of any tariff is P = 10/3, and the equilibrium quantity is q = 10 - 2(10/3) = 10/3.
Now, let's consider the situation after the Australian government introduces a $2 tariff. The new domestic price faced by consumers (Pc) will be the sum of the world price ($1) and the tariff ($2), which is $3. The domestic quantity demanded at this new price is:
qd = 10 - 2Pc
qd = 10 - 2(3)
qd = 4
On the other hand, the domestic quantity supplied remains the same at qs = P = 3.
Therefore, after the tariff, there is an excess supply of 1 unit (qs - qd = 3 - 4 = -1). This indicates under-consumption. The deadweight loss (DWL) from under-consumption is the area of the triangle formed by the price increase ($3 - $1 = $2) and the quantity under-consumed (1 unit):
DWL from under-consumption = (1/2) * ($2) * (1) = $1
Additionally, there is overproduction, as the domestic suppliers are producing more than the domestic demand. The deadweight loss from overproduction is also the area of a triangle formed by the excess supply (1 unit) and the price decrease ($3 - $1 = $2):
DWL from overproduction = (1/2) * ($2) * (1) = $1
So, the total deadweight loss is the sum of the deadweight losses from overproduction and under-consumption:
Total DWL = DWL from overproduction + DWL from under-consumption = $1 + $1 = $2
Finally, to calculate the tariff revenue, we need to determine the quantity that is subject to the tariff. In this case, the quantity subject to the tariff is the excess supply (1 unit). The tariff is $2 per unit, so the tariff revenue raised is:
Tariff revenue = Quantity subject to tariff * Tariff rate = 1 * $2 = $2
Therefore, the correct answer is an option (d): The deadweight loss is $6, and the tariff revenue is $2.
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Price Level Time left 0:39:06 P2 P1 A Real GDP FIGURE 23-2 Refer to Figure 23-2. Which of the following events could cause the upward shift of the AS curve? O a. a massive drought that reduces agricultural output a major discovery of new oil reserves that will increase the world supply improvements in communications technology a decrease in business confidence that reduces desired investment a recession in the U.S. that reduces our net exports Clear my choice O b. O c. O d. O e. B AS2 1 AS1
The main answer is:The major discovery of new oil reserves that will increase the world supply could cause an upward shift of the AS curve.
The AS curve represents the relationship between the price level and the quantity of real GDP supplied in the economy. An upward shift of the AS curve indicates an increase in the level of real GDP supplied at each price level.
Among the given options, a major discovery of new oil reserves that will increase the world supply is the event that can cause an upward shift of the AS curve. This is because an increase in the world supply of oil would lead to a decrease in oil prices, which is an important input cost for many industries. With lower input costs, firms can produce and supply more goods and services at each price level, resulting in an increase in the quantity of real GDP supplied.
It's important to note that the other events mentioned, such as a massive drought, improvements in communications technology, a decrease in business confidence, or a recession in the U.S., may impact the economy in various ways, but they are not directly related to the aggregate supply (AS) curve. These events might have implications for aggregate demand (AD) or other factors affecting the economy. However, in the context of the given question, the major discovery of new oil reserves is the event that specifically relates to an upward shift of the AS curve.
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On January 1, 2021, Rick’s Pawn Shop leased a truck from Corey Motors for a six-year period with an option to extend the lease for three years. Rick’s had no significant economic incentive as of the beginning of the lease to exercise the 3-year extension option. Annual lease payments are $15,000 due on December 31 of each year, calculated by the lessor using a 6% discount rate. Assume that at the beginning of the third year, January 1, 2023, Rick’s had made significant improvements to the truck whose cost could be recovered only if it exercises the extension option, creating an expectation that extension of the lease was "reasonably certain." The relevant interest rate at that time was 7%
1. Prepare the journal entry, if any, at the beginning of the third year for the lessee to account for the reassessment.
2. Prepare the journal entry, if any, at the beginning of the third year for the lessor to account for the reassessment.
Adjustment is necessary to make sure that the value of the asset (the leased truck) and the liability (lease payments) on both the lessee and lessor's books are accurate.
The Journal entry for the lessee to account for reassessment will be:
Debit Lease Liability
(Calculated using the new interest rate of 7% on present value of remaining payments, 30, 000)
Credit Lease Liability
(Calculated using the old interest rate of 6% on present value of remaining payments, 30, 000)
The Journal entry for the lessor to account for reassessment will be:
Debit Lease Receivable (Calculated using the new interest rate of 7% on present value of remaining payments, 30, 000)
Credit Lease Receivable
(Calculated using the old interest rate of 6% on present value of remaining payments, 30, 000)
As the lease liability will increase and the lease receivable will decrease, due to the change in the interest rate from 6% to 7%,
both the lessor and the lessee must reclassify their initial lease liability and lease receivable to match the new interest rate.
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