The equivalent simple interest rate for the given discount bond with a discount rate of 2.5% is approximately 0.8333%.
To find the equivalent simple interest rate, we can use the formula:
Simple Interest Rate = (Discount / Face Value) * (1 / Term) * 100%
Where:
Discount is the difference between the face value and the purchase price of the bond.
Face Value is the maturity value of the bond.
Term is the time period until maturity.
In this case, the face value is $1,000, the term is 3 years, and the simple discount rate is 2.5%.
The discount can be calculated using the formula:
Discount = Face Value - Purchase Price
Since this is a discount bond, the purchase price is less than the face value. In this case, the purchase price would be:
Purchase Price = Face Value - (Discount Rate * Face Value)
Purchase Price = $1,000 - (0.025 * $1,000)
Purchase Price = $1,000 - $25
Purchase Price = $975
Now, we can calculate the discount:
Discount = $1,000 - $975
Discount = $25
Now, let's calculate the equivalent simple interest rate:
Simple Interest Rate = ($25 / $1,000) * (1 / 3) * 100%
Simple Interest Rate = (0.025) * (0.3333) * 100%
Simple Interest Rate ≈ 0.8333%
Therefore, the equivalent simple interest rate for the given discount bond with a discount rate of 2.5% is approximately 0.8333%.
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2 FARO Technologies, whose products include portable 3D measurement equipment, recently had 35 million shares outstanding trading at $30 a share. Suppose the company announces its intention to raise $
FARO Technologies is an organization that creates and produces portable 3D measurement equipment. As of now, it had 35 million offers extraordinary that were exchanging at $30 per share.
The company needs to raise $120 million by giving more offers to the general population. In any case, the value that the company can get by selling shares relies upon various components like market interest, the general economic situation, and financial specialists' expectations.The market interest and the general financial state can prompt the stock's cost to rise or fall. On the off chance that the market is doing great, financial specialists are probably going to put resources into the stock, which will drive up the price.
In any case, if the general economic situation is poor, there might be a decrease in interest, which can prompt a decrease in share cost. Additionally, the investor's expectations of the future performance of the organization will also influence the stock cost. An investor may expect a higher return on investment on the off chance that the organization has strong performance history and prospects. Thus, the share's cost will be higher if there are high expectations from the investors.
The estimation of the organization's offers after the declaration will rely upon the overall market interest, the financial situation, and investor expectations. In the event that the market interest for the company's offers is high, the organization will get more cash by selling shares. Additionally, if the general economic situation is great, financial specialists may put resources into the organization's offers, which will prompt a rise in share prices. Then again, if the economy is weak, there may be low demand for the shares, which will prompt a decrease in the offer price. Finally, the investors' expectations of the organization's performance will also impact the stock price. If the organization has a strong past performance and prospects for growth, the investors will have high expectations from the shares, which will prompt a rise in share prices. The shares' cost will be higher if investors are more certain about the organization's prospects.
In conclusion, the estimation of FARO Technologies' shares will rely upon various components like market interest, the overall financial situation, and investors' expectations.
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Questions
1. Does it appear that Tom James and Alex Homer have a personal selling philosophy like that described in this chapter? Provide examples that support each of the three prescriptions.
2. Put yourself in the position of Alex Homer. What might be the most rewarding and the most adverse aspects of his sales job?
3. Describe how Alex uses personal selling skills in utilizing existing knowledge and gathering new information from the customer in order to advance the sales process.
4. Discuss different ways in which Alex can actively generate good customer referrals. 5. What skills are particularly important for Alex’s sales job? Which of the four major sources of sales training outlined in this chapter would you recommend for acquiring those skills?
1.Based on the information provided, it appears that both Tom James and Alex Homer have a personal selling philosophy aligned with the prescriptions described in this chapter. Here are examples supporting each of the three prescriptions:
a. Adopt the marketing concept: Both Tom and Alex prioritize understanding customer needs and delivering value. For example, they actively engage in conversations with customers, ask probing questions to uncover their requirements, and provide personalized solutions based on their knowledge of the products and services they offer.
b. Value personal goals and relationships: Both Tom and Alex emphasize building strong relationships with their customers. They invest time in getting to know their customers personally, remembering details about their preferences and previous interactions. For instance, Alex maintains a customer database to keep track of customer information and history, enabling him to provide personalized service and nurture relationships.
2. As Alex Homer, the most rewarding aspects of his sales job might include:
a.Building strong relationships with customers: Developing meaningful connections and rapport with customers can be fulfilling and satisfying. Seeing the positive impact of his efforts on customer satisfaction and loyalty can bring a sense of accomplishment.
b. Meeting sales targets and earning incentives: Achieving sales targets and earning incentives or commissions can be rewarding both financially and in terms of recognition within the organization. It provides a sense of accomplishment and motivates Alex to continue performing well.
3. Alex utilizes personal selling skills to gather information from customers and leverage existing knowledge to advance the sales process. Here's how he does it:
a. Active listening: Alex actively listens to his customers during interactions. He pays attention to their verbal and non-verbal cues, allowing him to understand their needs, preferences, and pain points. By listening attentively, Alex can tailor his sales approach and provide relevant solutions.
b. Probing and questioning: Alex asks probing questions to gather detailed information from customers. He seeks to understand their specific requirements, challenges, and goals. Through open-ended questions, Alex encourages customers to provide insights and share relevant details that can guide his sales approach.
4. To actively generate good customer referrals, Alex can employ the following strategies:
a. Provide exceptional customer service: By consistently delivering exceptional customer service, Alex can create positive experiences for his customers. Satisfied customers are more likely to refer friends, family, or colleagues to Alex based on their positive interactions.
b. Ask for referrals: Alex can directly ask satisfied customers for referrals. After successfully closing a deal or providing excellent service, he can politely request referrals from customers who are pleased with his performance. This approach capitalizes on the positive relationship and goodwill he has built with existing customers.
5. The skills that are particularly important for Alex's sales job include:
Active listening: To understand the customer's needs and challenges effectively.
Communication skills: To articulate the value proposition clearly and persuasively.
Relationship building: To develop trust and establish long-term customer relationships.
Problem-solving: To identify and address customer pain points with suitable solutions.
Negotiation skills: To reach mutually beneficial agreements during the sales process.
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The Swiss company Nestlé S.A. is by the far the largest fast moving consumer goods (FMCG) company with almost 94 billion USD in revenues as reported in 2018. The company operates in over 150 countries, owns 2000 brands and employs nearly 300,000 employees globally. Nestle's mission statement is "to provide consumers with the best tasting, most nutritious choices in a wide range of food and beverage categories and eating occasions, from morning to night". One of the top selling brands for Nestle is "Nescafe", a brand that was introduced in 1938. "Nescafe" dominates the world's instant coffee market, sold in over 180 countries and with a commanding market leadership in almost every major consumer territory. Despite of all such success, Nestle never loses sight of their customer. For example after the global recession hit the world, Nestle released value packages for their consumers, which reduced the cost of product packaging and allowed for a price reduction for their price sensitive customers. In another occasion when people concern for health and wellness started gaining momentum, Nestle increased its investments in healthy snacks and introduced a new brand called "Fitness" in 2015. The brand started achieving incredibly high sales in a growing market and in a very short time. Nestle feared customers and citizen's concern over sustainability could affect their business, especially after being recognized as the world's second most plastic polluter, so they started cutting on plastic consumption. Still the company's ambition doesn't have a celling and this led to Nestle's expansion in new industries such as coffee machines, as well as acquiring shares in L'Oreal a company that owns fashion brands such as Giorgio Armani and Ralph Lauren. In light of the previous case, answer the following questions: 1. Analyze Nestle' mission statement and state your opinion. 2. Identify the market trends mentioned in the case, supporting your answer with evidence. 3. Determine Nestle's marketing orientation and justify your answer. 4. Analyze environmental forces mentioned in the case. 5. Compare between "Nescafe" and "fitness" based on the BCG matrix. 6. Mention the market expansion strategy(ies) used by Nestle according to Ansoff matrix.
Nestle, the Swiss FMCG company, is known for its wide range of food and beverage brands and global presence. Its mission statement focuses on providing consumers with nutritious choices throughout the day.
1. Nestle's mission statement focuses on providing consumers with the best tasting and nutritious choices across various food and beverage categories. It emphasizes catering to different eating occasions throughout the day. The mission statement reflects Nestle's commitment to consumer satisfaction and product excellence.
2. The case mentions several market trends. Nestle introduced value packages during the global recession to address price sensitivity among customers. It invested in healthy snacks with the launch of the "Fitness" brand to meet the growing demand for health and wellness products. Additionally, Nestle responded to sustainability concerns by cutting plastic consumption, acknowledging the rising importance of environmental consciousness.
3. Nestle's marketing orientation can be considered customer-oriented. The company's actions, such as releasing value packages and investing in healthy snacks, demonstrate a focus on understanding and meeting customer needs. Nestle's ability to adapt its products and strategies to changing consumer demands suggests a customer-centric approach.
4. Environmental forces play a significant role in Nestle's decision-making. The case mentions concerns over sustainability and plastic pollution, prompting Nestle to reduce plastic consumption. Consumer concerns regarding health and wellness have also influenced Nestle's investments in healthy snacks and the launch of the "Fitness" brand. These environmental forces have shaped Nestle's strategies and actions.
5. Based on the BCG matrix, "Nescafe" can be classified as a cash cow. It is a well-established brand that dominates the instant coffee market, indicating high market share and stable profitability. On the other hand, "Fitness" can be considered a star. It achieved high sales in a growing market for healthy snacks, indicating both high market share and potential for further growth.
6. Nestle has employed multiple market expansion strategies according to the Ansoff matrix. The company expanded into new industries by venturing into coffee machines. This can be categorized as diversification, as Nestle entered a new market with new products. Additionally, acquiring shares in L'Oreal, a company with fashion brands, represents a form of market development, as Nestle extended its presence into a related market segment.
Overall, Nestle's mission statement, market trends, marketing orientation, response to environmental forces, brand analysis, and market expansion strategies illustrate the company's adaptability and focus on meeting customer needs in a changing business landscape.
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FILL THE BLANK. "Push strategy involves building ___ by focusing
promotional activities toward the ___.
Group of answer choices
retailer loyalty; channel partners
brand loyalty; consumer sales
agent loyalty; manufactu"
"Push strategy involves building brand loyalty by focusing promotional activities toward the consumer sales."
This approach aims to incentivize intermediaries to actively promote and sell the brand's products, ensuring wider availability and visibility in the market.
In a push strategy, the primary goal is to "push" products or services through the distribution channel to reach the end consumers. This approach involves directing promotional efforts towards intermediaries in the channel, such as retailers or wholesalers, to encourage them to promote and sell the products to consumers.
The focus of push strategy is to build brand loyalty among the channel partners. By providing incentives, trade promotions, training, and support to the intermediaries, companies aim to encourage them to actively promote and sell their products. This helps in creating a strong partnership and loyalty between the brand and the channel partners.
The ultimate aim of building brand loyalty through push strategy is to influence the intermediaries to stock and promote the brand's products, thus ensuring wider availability and visibility to the target consumers.
The channel partners play a crucial role in pushing the products to the market, and by establishing brand loyalty with them, companies can effectively reach the end consumers and drive sales.
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Growth that disproportionately expands a country's production possibilities in the direction of the good it exports is called A. foreign-biased growth. B. import-biased growth. C. domestic-biased growth. D. export-biased growth.
The correct answer is D. export-biased growth.
Export-biased growth refers to a form of economic expansion where a country experiences a disproportionately higher increase in its production possibilities in the direction of the goods it exports. In other words, the growth is skewed towards industries and sectors that are involved in the production of goods for export.
This type of growth has significant implications for a country's economy. When a nation focuses on expanding its export-oriented industries, it can benefit from increased foreign exchange earnings, improved trade balances, and enhanced competitiveness in the global market. Export-biased growth can lead to the development of specialized industries and the accumulation of technological capabilities that cater to international demand.
The expansion of export industries can also generate positive spillover effects on the domestic economy, such as increased employment opportunities, income growth, and infrastructure development. Additionally, export-biased growth can promote foreign direct investment (FDI) inflows, as international investors are attracted to countries with strong export potential.
However, it is important to note that export-biased growth may also have some drawbacks. Over-reliance on a narrow range of export products can make an economy vulnerable to external shocks and fluctuations in global demand. It may also lead to neglecting the development of domestic industries, which could hinder the diversification of the economy and reduce its resilience.
In conclusion, export-biased growth refers to the expansion of a country's production possibilities primarily in the direction of its exports. While it can bring several benefits, careful consideration should be given to balancing export-oriented growth with the development of domestic industries to ensure long-term economic stability and sustainability.
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Discuss FOUR (4) ways on how gamification can boost business results. (150 word)
Gamification is the application of game elements and mechanics to non-gaming contexts and has gained prominence as a powerful tool for boosting business results.
The four ways in which gamification can boost business results:
Increased engagement: Gamification can help increase engagement by making tasks more fun and rewarding. This can lead to increased productivity, as well as a more positive work environment.Improved customer satisfaction: It can help improve customer satisfaction by providing a more personalized and engaging experience. This can lead to increased sales and loyalty.Improved performance: It can help to improve performance by providing clear goals and feedback. This can help employees focus their efforts and improve their skills.Reduced costs: Gamification can help to reduce costs by making training more efficient and effective. This can lead to a more productive workforce, which can save money in the long run.Thus, gamification can boost business results by increasing engagement, increasing performance, improving customer satisfaction, and reducing costs.
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Stock A has a beta of 1.6. Stock B has a beta of 0.9 and an expected return of 12 percent. If the risk- free rate is 2 percent and both stocks have equal reward-to-risk ratios, what is the expected return on stock A? 17.78 percent 21.33 percent None of the answers is correct. 14.50 percent 19.78 percent
The expected return on stock A is 14.50 percent. Given, The beta of stock A = 1.6The beta of stock B = 0.9The expected return of stock B = 12%Risk-free rate = 2%Reward-to-risk ratios of both stocks are equal.
We need to calculate the expected return of stock A. Now, the reward-to-risk ratio of stock B is; Reward-to-risk ratio of stock B = (expected return of stock B − risk-free rate)/beta of stock B = (12 − 2)/0.9 = 10/0.9 = 11.1111Now, the reward-to-risk ratio of stock A is the same as stock B because both have equal ratios. So, we can say that the reward-to-risk ratio of stock A = 11.1111.Now, we can use the Capital Asset Pricing Model (CAPM) to calculate the expected return of stock A.CAPM = risk-free rate + beta of stock A × (expected market return − risk-free rate)Since both stocks have equal reward-to-risk ratios, the expected market return is equal to the expected return of stock B. So, expected market return = expected return of stock B = 12%Now, substitute the given values in the above formula to get the expected return of stock A.14.50% = 2% + 1.6 × (12% − 2%)Therefore, the expected return on stock A is 14.50 percent.
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A 17-year, semiannual coupon bond sells for $1,008.82. The bond has a par value of $1,000 and a yield to maturity of 6.63 percent. What is the bond's coupon rate? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g., 32.16) A stock has a beta of 0.90 and a reward-to-risk ratio of 5.95 percent. If the risk-free rate is 2.6 percent, what is the stock's expected return? (Do not round intermediate calculations and enter your answer as a percent rounded to 2 decimal places, e.g. 32.16)
The bond's coupon rate is 3.32%. The stock's expected return is 5.34%.
The bond's coupon rate can be calculated using the following formula: coupon rate = (yield to maturity * par value) / (number of payments per year)
Plugging in the given values, we get:
coupon rate = (6.63% * $1,000) / (2) = $331.50
Dividing this amount by the bond's face value of $1,000, we get the bond's coupon rate of 3.32%.
The stock's expected return can be calculated using the following formula:
expected return = risk-free rate + beta * (reward-to-risk ratio)
Plugging in the given values, we get:
expected return = 2.6% + 0.90 * 5.95% = 5.34%
Therefore, the stock's expected return is 5.34%.
It is important to note that these are just estimates, and the actual return on the bond or stock could be higher or lower. The bond's return could be higher if interest rates fall, and the stock's return could be higher if the company's earnings increase.
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Julie wishes to draw down her Canada Pension retirement benefit early. If Julie were 65, her CPP retirement benefit would be $800 per month. How much will Julie receive per month if she draws down her pension starting at age 63? A $733 B $627 C $701 D $685
If Julie decides to draw down her Canada Pension retirement benefit early at age 63, the amount she will receive per month will be lower than the amount she would receive at age 65. However, to determine the exact amount, we need to consider the CPP reduction factor for early retirement.
The CPP reduction factor for early retirement is 0.6% per month prior to age 65, up to a maximum reduction of 36%. Since Julie wants to start drawing her pension at age 63, which is 24 months before age 65, the reduction in her benefit will be 24 times 0.6%, which is 14.4%.
To calculate Julie's monthly benefit at age 63:
$800 - (14.4% of $800) = $800 - ($115.20) = $684.80
Rounding to the nearest dollar, Julie will receive approximately $685 per month if she draws down her pension starting at age 63. Therefore, the closest option is (D) $685.
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A UNO student wants to celebrate graduating and getting a job by spending $5,000 on a trip to Bali with his wife. He applies for and subsequently gets a "vacation loan" of $4,000 from UNO FCU. The bank offers an interest rate of 11% per year and the loan must be repaid in 5 equal annual payments. Construct his loan amortization schedule.
Amortization is the process of spreading out the cost of a loan over a set period of time with fixed payments. When a loan is taken, a schedule of payments is set up, the interest is calculated on the unpaid balance of the loan, and it decreases as the payments are made principal balance of $601.13.
Let us construct the amortization table below:
A UNO student borrows $4,000 from UNO FCU with an interest rate of 11 percent per year. They must make five equal annual payments to repay the loan. Let us find out the equal annual payment based on the formula below:
PV = P [ 1 - (1 + r)-n ] / r
Where,PV = Present ValueP = Paymentr = Interest raten = Number of payments
PV = 4,000P = ?r = 11% per yearn = 5 payments
Therefore,
P = $1,044.47 each year.Then let us compute the amortization schedule.
Loan amortization schedule for a UNO student loan:
$ $1,044.47$ $1,044.47$ $1,044.47$ $1,044.47$ $1,044.47
Principal $1,604.12 $1,959.54 $2,390.47 $2,901.35 $3,498.51
Interest $440.88 $85.46 $346.53 $465.65 $546.49
Balance $2,395.88 $2,040.46 $1,649.99 $1,098.64 $601.13
At the start of the loan, the student has $4,000 in principal, and they have to pay $1,044.47 per year for five years. For the first year, the interest on the loan is 11 percent of $4,000 or $440.88, leaving a principal balance of $1,604.12.
For each subsequent year, the principal payment is constant, but the interest payment decreases as the principal balance decreases. By the fifth and final payment, the student pays $546.49 in interest, leaving a remaining principal balance of $601.13.
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Consider the efficient market hypothesis which indicates that markets that have all information available are more efficient. What type of information efficiency does a market have that includes all public information but priviate information in companies still exists for insiders to exploit.
Semi-strong form efficiency
Weak form efficiency
None of the available choices provide this type of informational efficiency.
Strong form efficiency
According to the given scenario, the type of information efficiency that a market has that includes all public information but private information in companies still exists for insiders to exploit is Semi-strong form efficiency.
Efficient market hypothesis states that all the investors in the market have the same access to the information, hence it is not possible for anyone to make excess profits. As soon as any news is released in the market, it will be reflected in the market prices of the securities in an instant.So, all the participants have the same ability to access the information and hence there is no possibility of anyone having excess profits.
There are three forms of market efficiency namely:1. Strong form efficiency: It implies that all public as well as private information are reflected in the stock prices.2. Semi-strong form efficiency: It implies that all public information is reflected in the stock prices.3. Weak form efficiency: It implies that only past market information and prices are reflected in the stock prices.
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Preston Concrete is a major supplier of concrete to residential
and commercial builders in the Pacific Northwest. The company's
general pricing policy is to set prices at $119 per cubic yard.
Deliveri
If Preston accepted the offer, the profit is = $53700
How to solve for the profit / lossFirst, we'll calculate the total variable costs. This is the sum of the direct material costs and the yard operating costs (after subtracting certain costs). Hence, total variable costs equals $21,480,000 (direct material costs) plus ($6,000,000 - $1,500,000) in yard operating costs, which comes out to be $25,980,000.
Next, we'll calculate the variable cost per cubic yard. This is done by dividing the total variable costs by the total number of cubic yards. So, the variable cost per cubic yard equals $25,980,000 divided by 400,000 cubic yards, which equals $64.95.
Finally, we'll calculate the estimated profit or loss. This is found by multiplying the number of units by the difference between the selling price and the cost per unit, then subtracting the product of the number of units and the selling price of other items. In this case, the estimated profit/loss is calculated as: 4,900 units times ($87 - $64.95) minus (7,100 units times $6) minus (290 units times $40.50). This equals $53,700.
So, the final answer is $53,700.
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question
Preston Concrete is a major supplier of concrete to residential and commercial builders in the Pacific Northwest. The company's general pricing policy is to set prices at $129 per cubic yard. Deliveries for 2013 were 400,000 cubic yards. Total costs were:
Material costs $21,480,000
Yard operation costs $6,000,000
Administrative costs $840,000
$1,500,000 of the estimated yard operation costs were fixed, and all of the administrative costs were fixed. In addition to the costs above, estimated fixed delivery costs were $205,000 for the year, and estimated variable delivery costs were $6.00 per mile and $40.50 per truck hour. The rate per mile reflects the fact that more miles result in more gas, oil, and maintenance. The rate per truck hour reflects the fact that trucks that are waiting at a jobsite are kept running (so the concrete mix won't solidify), and drivers continue to get paid during that time.
Near the end of 2013, Fairview Construction Company asked for a delivery of 4,900 cubic yards of concrete but was unwilling to pay the regular price; it was only willing to pay $87 per cubic yard. Preston estimated that the job would require 7,100 miles of driving and 290 truck hours. The housing market in the Pacific Northwest had slowed during recent months, leaving Preston with enough capacity to fill the order, but its sales manager was reluctant to commit to such a reduced price.
REQUIRED
If Preston accepted the offer, what would the profit or loss have been (enter a loss as a negative number)?
At several occasions I have mentioned Niccolo Machiavelli in our discussion of leadership and the art of politics and referred to his famous treatise, The Prince. I sometimes repeat myself by saying that every CEO, organization boss or political leader and even
students of leadership - must read this 16th century guide for political leaders. In fact, this philosophical magnum opus is more about how to gain and use power. Some see a diabolical spirit of ruthlessness in his philosophy and others may see a brutally honest way to keep power for survival at any cost: that the end iustifies the means
Niccolo Machiavelli's notorious composition," The Prince" is an excellent read for political leaders, every CEO, association master, and scholars of leadership. Machiavelli's gospel is further about how to gain and use power, which has been interpreted by people differently.
What's" The Prince"?
Niccolò di Bernardo dei Machiavelli was an Italian diplomat, champion, and annalist, who lived from May 3, 1469 to June 21, 1527. The Prince is a 16th- century political composition by Niccolò Machiavelli, a Renaissance diplomat, and champion. It's a practical companion for ruling. He also served as a diplomat and as a elderly functionary in the Florentine Republic. The book is grounded on the history of the Roman Empire, especially the rule of Emperor Augustus. It's about how to gain and maintain political power. numerous see a satanic spirit of ruthlessness in his gospel, and others see a severely honest way to keep power for survival at any cost that the end justifies the means. It's a book about political power, the accession of power, the preservation of power, and the loss of power.
What's Organization?
An association is a group of individualities who work together to achieve a common thing or ideal. An association can be a private, public, ornon-profit reality. Organizations can be hierarchical or flat, centralized or decentralized, and regulatory ornon-bureaucratic. The structure and culture of an association can have a significant impact on its performance and success. It can impact communication, decision- timber, and hand geste.
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.
Moorhouse Clinic uses client-visits as its measure of
activity. During December, the clinic budgeted for 3,700
client-visits, but its actual level of activity was 3,690
client-visits. The clinic has p
The personnel expenses in the planning budget for December would be closest to - $51,009 (Option A)
How is this so?The personnel expenses in the planning budget for December can be determined by multiplying the fixed element per month ($27,100) by the actual level of activity (3,690 client-visits).
This calculation gives us an estimated personnel expense of $51,009. Therefore, option A ($51,009) is the closest value.
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Full Question:
Although part of your question is missing, you might be referring to this full question:
Moorhouse Clinic uses client-visits as its measure of activity. During December, the clinic budgeted for 3,700 client-visits, but its actual level of activity was 3,690 client-visits. The clinic has provided the following data concerning the formulas used in its budgeting and its actual results for December:
Fixed element per month Variable element per client visit
Revenue - 25.10
Personal expenses 27,100 7.10
Medical supplies 1,500 4.50
Occupancy expenses 6,000 1.00
Administrative expenses 3,000 0.10
Total expenses 37,600 12.70
Actual result for December:
Revenue - 96,299
Personnel expenses - 51,009
Medical supplies - 17,425
Occupancy expenses - 9,240
Administrative expenses - 3,239
17. The personnel expenses in the planning budget for December would be closest to:
A. $51,009
B. $51,147
C. $53,370
D. $53,299
Assume the market for one-bedroom apartments in a large city has the following demand and supply functions, where R is the monthly rent in dollars and Q is the number of one-bedroom apartments: Demand: R = 700 – Q Supply: R = 100 + 2Q Now suppose that the government imposes a rent ceiling of $400 per month. Draw a graph of the market. Be sure to fully and clearly label the graph, including the Supply and Demand curves (as D and S respectively), Equilibrium Quantity (Q*), Equilibrium Price (R*), Rent Ceiling (Rc), Quantity Demanded with the Rent Ceiling (Qdc) and Quantity Supplied with the rent ceiling (Qsc).
What are two unintended consequences of a rent ceiling, other than the obvious shortage of apartments?
Who benefits because of this price ceiling? Who is harmed?
What would be an alternate method to ensure that more renters could afford housing besides using a price ceiling?
Two unintended consequences of the rent ceiling are reduced quality of apartments and inefficient allocation of housing. The price ceiling benefits renters while landlords and potential renters who cannot find housing are harmed.
The graph of the market with the rent ceiling shows the demand curve (D) intersecting with the rent ceiling (Rc) at a point below the equilibrium price (R*). This intersection creates a new quantity demanded (Qdc) that is higher than the quantity supplied (Qsc), resulting in a shortage of apartments.
Two unintended consequences of the rent ceiling are reduced quality of apartments and inefficient allocation of housing. Landlords may have less incentive to maintain or improve the quality of their apartments due to reduced rent revenue. Additionally, the rent ceiling can lead to inefficient allocation of housing as it may not be based on the true market demand and supply equilibrium.
Renters who can secure an apartment below the rent ceiling benefit from the price ceiling as they pay a lower rent than they would have in the absence of the ceiling. However, landlords are harmed as they receive lower rental income, potentially leading to reduced maintenance and investment in housing. Moreover, potential renters who cannot find housing due to the shortage are also harmed.
An alternate method to ensure more renters can afford housing is by providing subsidies or housing vouchers to low-income renters. This approach directly targets those in need without distorting the market mechanisms. Subsidies can be targeted to individuals or families based on their income levels, allowing them to afford housing based on their specific financial circumstances, while maintaining the market equilibrium and incentivizing landlords to provide quality housing.
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Which of the following is true regarding depreciation expense for nonprofit organizations? a. Depreciation expense is reported for all long-lived assets. b. Depreciation expense is not reported. c. Depreciation expense is reported for most long-lived assets, and generally excludes works of art, historical treasures, and collections.
The following is true regarding depreciation expense for nonprofit organizations Depreciation expense is reported for most long-lived assets, and generally excludes works of art, historical treasures, and collections.
The option (C) is correct.
Nonprofit organizations typically follow Generally Accepted Accounting Principles (GAAP) or another material bookkeeping structure while setting up their fiscal reports. As per GAAP, deterioration cost is accounted for most enduring resources, like structures, gear, and vehicles. These resources have a restricted helpful life and are supposed to be utilized over numerous periods.
Be that as it may, show-stoppers, verifiable fortunes, and assortments are viewed as resources with endless valuable life and do not deteriorate. All things considered, they are commonly uncovered independently on the budget summaries.
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Four years ago, Bling Diamond, Inc., paid a dividend of $2.05 per share. The company paid a dividend of $2.47 per share yesterday. Dividends will grow over the next five years at the same rate they grew over the last four years. Thereafter, dividends will grow at 5 percent per year.
What will the company’s cash dividend be in seven years?
The cash dividend for Bling Diamond Inc in seven years would be $4.48 per share.
Given that Four years ago, Bling Diamond, Inc., paid a dividend of $2.05 per share. The company paid a dividend of $2.47 per share yesterday. Dividends will grow over the next five years at the same rate they grew over the last four years. Thereafter, dividends will grow at 5 percent per year. To find the company's cash dividend after 7 years:
Calculating the dividends for the next 5 years:
The dividend growth rate in the last four years: $2.47 - $2.05 = $0.42 per share
Dividends for the next 5 years will grow at the same rate as the last four years.$2.47 + ($0.42 × 5) = $4.27 per share after 5 years
Calculating dividends after 7 years:
After 5 years, dividends will be $4.27 per share. The dividends for the next 2 years will grow at a rate of 5%. The first year's growth: $4.27 × 0.05 = $0.2135 per share
The second year's growth: $4.27 + $0.2135 = $4.4835 per share. The cash dividend for Bling Diamond Inc in seven years would be $4.48 per share.
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Consider the complexities of interdepartmental collaboration of diverse teams across several functioning areas of an organization. Evaluate your leadership acumen and the skills needed to achieve collaboration across functional groups to achieve success. Discuss the opportunities for growth in your current skill set and provide an example of how you can prepare yourself for these challenges. Include in your discussion what you can start doing, stop doing, and continue doing to prepare yourself to lead in these complex situations. reference your explanations
Interdepartmental collaboration across diverse teams is a crucial aspect of organizational success. It requires effective leadership skills to foster collaboration and synergy among different functional groups.
Evaluating one's leadership acumen and identifying areas for growth is essential in preparing for the challenges of leading in complex situations. Here's a breakdown of how to approach this evaluation and the actions to take: Evaluate Leadership Acumen: Reflect on your current leadership style and assess your strengths and weaknesses in promoting collaboration across functional groups. Consider the following questions:
Do you actively encourage open communication and teamwork among diverse teams?
Are you skilled at resolving conflicts and managing differences of opinion?
How effectively do you facilitate knowledge sharing and cross-functional cooperation?
Are you able to align the goals and objectives of different departments towards a common purpose?
Opportunities for Growth:
Identify areas for improvement in your leadership skills related to interdepartmental collaboration. Some potential areas for growth may include:
Enhancing communication skills: Improving active listening, clear and concise communication, and promoting transparency.
Developing conflict resolution skills: Learning techniques to manage conflicts constructively and find win-win solutions.
Building cultural intelligence: Understanding and appreciating diverse perspectives, working styles, and cultural differences.
Strengthening influence and persuasion: Developing skills to influence stakeholders and build consensus across functional groups.
Example for Preparation:
Let's assume that you have identified the need to enhance your communication skills to improve interdepartmental collaboration. Here's a plan of action:
Start Doing: Foster open and transparent communication channels across functional groups, ensuring everyone has a voice and feels heard.
Regularly hold cross-functional meetings or collaborative sessions to discuss common goals, share information, and promote collaboration.
Seek feedback from team members and actively listen to their perspectives, concerns, and ideas.
Stop Doing: Avoid making assumptions or jumping to conclusions without seeking input from relevant stakeholders.
Disc ourage siloed thinking and encourage collaboration by breaking down communication barriers between departments.
Continue Doing: Maintain a supportive and inclusive leadership approach, valuing and appreciating the contributions of diverse teams.
Recognize and celebrate successful interdepartmental collaborations, fostering a culture of collaboration and teamwork.
By taking these actions, you can develop your skills in communication and collaboration, setting a foundation for leading in complex interdepartmental environments. It's essential to regularly reflect on your progress and make adjustments based on feedback and evolving organizational needs.
References: Yukl, G. (2013). Leadership in Organizations (8th ed.).
Hernez-Broome, G., & Hughes, R. L. (2004). Leadership Development: Past, Present, and Future.
Warrick, D. D. (2017). Leadership transitions and team effectiveness: A matter of balance. Organizational Dynamics, 46(3), 190-197.
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Inflation is generally controlled by the Central Bank. The main policy instrument used is monetary policy, but in theory, there are a variety of other tools for controlling inflation. Using illustrative diagrams where necessary, explain how each of the following instruments can be used. a) Monetary policy b) Supply-side policies c) Fiscal policy d) Wage controls [TOTAL = 20 MARKS] 3/3 ⠀
Monetary policy: Monetary policy is primarily controlled by the central bank and involves the use of various tools to influence the money supply and interest rates in an economy. The central bank can use expansionary or contractionary monetary policy to control inflation.
Expansionary Monetary Policy: When there is a need to stimulate economic growth and combat deflationary pressures, the central bank can implement expansionary monetary policy. This is achieved through the following measures:
Lowering interest rates: By reducing interest rates, the central bank encourages borrowing and investment, which increases aggregate demand and stimulates economic activity. This leads to increased spending and can help boost inflation.
Open Market Operations (OMOs): The central bank can buy government bonds or other securities from commercial banks, injecting money into the economy. This increases the money supply, making it easier for businesses and individuals to borrow and spend, thus stimulating demand and potentially raising inflation.
Contractionary Monetary Policy: When there is excessive inflationary pressure in the economy, the central bank can implement contractionary monetary policy to reduce inflation. This is achieved through the following measures:
Raising interest rates: Increasing interest rates discourages borrowing and reduces consumer spending and business investment. This decreases aggregate demand, helping to curb inflationary pressures.
Open Market Operations (OMOs): The central bank can sell government bonds or other securities to commercial banks, reducing the money supply. This makes borrowing more expensive and reduces spending, which can help slow down inflation.
b) Supply-side policies: Supply-side policies focus on improving the productive capacity and efficiency of an economy, which can help control inflation in the long run. These policies aim to increase the quantity and quality of goods and services supplied in the economy, which can help reduce price pressures. Some key supply-side policies include:
Investment in infrastructure: Improving infrastructure, such as transportation networks and communication systems, can enhance productivity and reduce production costs. This can help prevent cost-push inflation.
Research and development (R&D): Encouraging R&D activities can lead to technological advancements and innovation, which can boost productivity and efficiency. Higher productivity can lead to lower costs for businesses and potentially reduce inflationary pressures.
c) Fiscal policy: Fiscal policy refers to the government's use of taxation and spending to influence the overall level of economic activity. It can be used to control inflation through the following measures:
Taxation: Increasing taxes can reduce disposable income and curb consumer spending, which can help reduce demand-pull inflation. Higher taxes on certain goods and services can also discourage their consumption and lower price pressures.
Government spending: Controlling government expenditure and reducing budget deficits can help prevent excessive demand growth, which can contribute to inflation. Decreasing government spending can reduce aggregate demand and help stabilize prices.
d) Wage controls: Implementing wage controls involves setting limits or guidelines on wage increases to prevent excessive wage growth that could contribute to inflation. This measure aims to control cost-push inflation, where rising wages lead to higher production costs and, subsequently, higher prices. Wage controls can be enforced through direct government intervention or through collective bargaining agreements between employers and labor unions. By limiting wage increases, the aim is to prevent a wage-price spiral, where higher wages lead to higher prices.
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The articles of incorporation of XYZ Corporation provide, among other matters, for an authorized capital stock of P1,000,000.00 divided into 10,000 shares at P100.00 par value per share. Five thousand (5,000) shares have been subscribed at P100.00 per share of which 3,000 shares have been paid in full while 2,000 shares have been paid at 80% of the subscription price. Of the 3,000 shares paid in full, 100 shares were reacquired at par value.
The issued capital stock of the corporation is: ans: 500,000
The outstanding capital stock of the corporation is: ans: 490,000
The subscribed capital stock of the corporation is: ans:500,000
The issued capital stock of XYZ Corporation is P500,000, the outstanding capital stock is P490,000, and the subscribed capital stock is P500,000.
To calculate the issued, outstanding, and subscribed capital stock of XYZ Corporation, we can use the information provided:
Issued Capital Stock:
The issued capital stock represents the total number of shares that have been issued by the corporation. In this case, 5,000 shares have been subscribed, but we need to deduct the 100 shares that were reacquired.
Issued Capital Stock = Subscribed Shares - Reacquired Shares
Issued Capital Stock = 5,000 - 100
Issued Capital Stock = 4,900 shares
Since each share has a par value of P100, we can calculate the issued capital stock amount as follows:
Issued Capital Stock Amount = Issued Capital Stock * Par Value
Issued Capital Stock Amount = 4,900 * P100
Issued Capital Stock Amount = P490,000
Therefore, the issued capital stock of XYZ Corporation is P490,000.
Outstanding Capital Stock:
The outstanding capital stock represents the total number of shares that have been issued and are currently held by shareholders. Since there were no shares repurchased from the 5,000 subscribed shares, the outstanding capital stock will be the same as the issued capital stock:
Outstanding Capital Stock = Issued Capital Stock
Outstanding Capital Stock = P490,000
Therefore, the outstanding capital stock of XYZ Corporation is P490,000.
Subscribed Capital Stock:
The subscribed capital stock represents the total number of shares that have been subscribed by shareholders, regardless of whether they have been fully paid or not.
Subscribed Capital Stock = Subscribed Shares * Par Value
Subscribed Capital Stock = 5,000 * P100
Subscribed Capital Stock = P500,000
Therefore, the subscribed capital stock of XYZ Corporation is P500,000.
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Newton Insurer changes its property quota share reinsurance program from ABC Re to XYZ Re effective Jan. 1, 2020. One of Newton’s policyholder suffers a total loss at 2 AM Eastern time/ 11PM Pacific time on Jan.1 2020/Dec.31, 2019. The policyholder is located in California. Explain whether the old or the new treaty would respond to this loss.
To determine whether the old or new treaty would respond to the loss, we need to consider the effective date and time of the change in the property quota share reinsurance program from ABC Re to XYZ Re.
In this case, the effective date of the change is Jan. 1, 2020. The loss occurred at 2 AM Eastern time/11 PM Pacific time on Jan. 1, 2020/Dec. 31, 2019.
Since the loss occurred after the effective date of the change, which is Jan. 1, 2020, the new treaty with XYZ Re would be in effect at the time of the loss. Therefore, the new treaty with XYZ Re would respond to this loss.
It's important to note that the specific terms and conditions of the reinsurance treaty would also need to be considered to determine the coverage and response to the loss, as they may vary between the old and new treaties.
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twinkle incorporation has the following returns over the past five years 5%,10%, 12%, 13% ,-5%. if the average T-bill rate was 5% and the average inflation rate over this time period was 2% what was the average nominal risk premium?
The average nominal risk premium for Twinkle Incorporation over the past five years is 6% (average returns of 8% - average T-bill rate of 5% - average inflation rate of 2%). This indicates the additional return earned by investors above the risk-free rate and inflation.
To calculate the average nominal risk premium, we first need to find the average return for Twinkle Incorporation over the past five years. Adding up the returns for each year (5%, 10%, 12%, 13%, and -5%) and dividing by the number of years (5), we find that the average return is 7%.
Next, we subtract the average T-bill rate from the average return to calculate the nominal risk premium. The average T-bill rate is given as 5%, so the nominal risk premium is 7% - 5% = 2%.
The nominal risk premium represents the additional return earned by investing in Twinkle Incorporation compared to a risk-free investment (T-bills) over the given period. In this case, the average nominal risk premium is 2%, indicating that Twinkle Incorporation's investment has outperformed the risk-free T-bill investment by an average of 2% per year over the past five years.
It's important to note that this calculation does not take into account the average inflation rate over the same time period. The nominal risk premium solely represents the excess return earned above the risk-free rate and does not consider the impact of inflation on the purchasing power of returns.
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In the MARS model, all of the following factors directly influence an employee's voluntary behaviour and performance, EXCEPT:
motivation.
role perceptions.
situational factors.
moral intensity.
ability.bu
The MARS model comprises four factors that directly impact an employee's voluntary behavior and performance. These four factors are motivation, ability, role perception, and situational factors. The factor that is not part of the MARS model is moral intensity.
What is the MARS Model?The MARS model was introduced by John Meyer and Natalie Allen in 1991. This model was developed to explain the factors that affect an employee's voluntary behavior and performance. The four factors that are included in the MARS model are:MotivationAbilityRole perceptionSituational factorsThe MARS model was developed to explain the factors that influence employees' voluntary behavior and performance.
The model is significant for understanding human behavior in the workplace and helps in enhancing employees' voluntary behavior and performance.The MARS model comprises four factors that directly impact an employee's voluntary behavior and performance. These four factors are motivation, ability, role perception, and situational factors. The factor that is not part of the MARS model is moral intensity.
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Quality is the ability of a product or service to consistently meet or exceed customer expectations. Quality also be measures by how good or bad something is. It's also referred to a characteristic of feature of someone or something. a) What Is Quality Management? (5 marks) b) Figure out \& explain four (4) dimensions of quality. (10 marks) c) Imagine you are the Manager for Pizza Hut Restaurant. What are the possible challenges with Service Quality at your restaurant?
Quality Management is a method that organizations use to maintain the quality of their products or services.
Quality management is a system that ensures that the quality of a product or service meets or exceeds customer expectations. It is an approach that ensures that the products or services delivered by an organization meet or exceed customer expectations, and it involves the entire organization.
b) Four dimensions of Quality
The four dimensions of quality are as follows:
Performance: It refers to the extent to which the product meets or exceeds the customer's expectations. It determines the product's capability to carry out its intended purpose.
Features: It is the additional value that a product provides. Features are the components of a product that make it unique, such as its design, appearance, or other attributes.
Reliability: Reliability is the degree to which a product or service performs consistently over time and under different conditions. It is the ability of a product to operate without failing.
Conformance: It refers to the degree to which a product or service meets or exceeds established industry standards. It involves evaluating the product's design, development, and production processes to ensure that it meets industry standards.
c) Possible challenges with Service Quality at Pizza Hut Restaurant
The following are the possible challenges with Service Quality at Pizza Hut Restaurant:
Long Wait Time: A long waiting time can cause a customer to lose patience, resulting in dissatisfaction. To avoid this, the restaurant should have enough staff to serve its customers efficiently.
Inadequate Staffing: Inadequate staffing can cause a delay in service and lead to a decrease in customer satisfaction.
Poor Customer Service: Poor customer service can lead to dissatisfaction among customers. The staff should be trained on how to interact with customers and provide excellent customer service.
Inconsistent Quality: Inconsistent quality can cause customers to lose confidence in the restaurant. Therefore, it's crucial to ensure consistency in the quality of food and service provided.
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Between 1970 and the present, research comparing similar wealthy countries found that increases in the money supply: a had little effect on prices. b caused large increases in real GDP. c caused large decreases in real GDP.
d and increases in the price level were roughly proportional.
Between 1970 and the present, research comparing similar wealthy countries found that increases in the money supply had little effect on prices. This suggests that changes in the money supply did not lead to significant inflationary pressures in these countries during this period.
Studies examining the relationship between money supply and prices have generally shown that the impact of monetary expansion on price levels is not substantial in the long run. Factors such as productivity growth, supply-side shocks, and changes in aggregate demand play more significant roles in determining price levels. While an increase in the money supply can influence economic activity and financial markets, its direct impact on prices has been found to be relatively limited.
Therefore, the research indicates that increases in the money supply during this period did not cause large increases in real GDP (option b) or large decreases in real GDP (option c). Additionally, the research suggests that the relationship between increases in the money supply and the price level was not roughly proportional (option d). The primary finding is that increases in the money supply had little effect on prices (option a).
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Tesla is undergoing a major expansion. The expansion will be financed by issuing new 20-year, $1,000 par, 6% annual coupon bonds. The market price of the bonds is $1,040 each. Tesla's flotation expense on the new bonds will be $24 per bond. Tesla's marginal tax rate is 35%. What is the relevant cost of debt for the newly-issued bonds?
a. 5.66%
b. 3.81%
c. 3.68%
d. 5.86%
To calculate the relevant cost of debt for the newly-issued bonds, we need to consider the coupon rate, flotation expense, market price, and the marginal tax rate.
First, let's calculate the after-tax cost of debt using the formula:
After-tax cost of debt = (Coupon payment - Flotation expense) * (1 - Tax rate) / Market price
Coupon payment = Coupon rate * Par value
Coupon payment = 6% * $1,000 = $60
After-tax cost of debt = ($60 - $24) * (1 - 0.35) / $1,040
After-tax cost of debt = $36 * 0.65 / $1,040
After-tax cost of debt = $23.40 / $1,040
After-tax cost of debt ≈ 0.0225 or 2.25%
The relevant cost of debt for the newly-issued bonds is approximately 2.25%.
Therefore, none of the provided answer choices (a. 5.66%, b. 3.81%, c. 3.68%, d. 5.86%) is correct.
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In your opinion, what are the decision motivations for developing or selling a hotel property? Summarize the due diligence process
Decision motivations for developing or selling a hotel property: Hotel development and sales decisions are generally influenced by a number of factors. The following are the decision motivations for developing or selling a hotel property Market forces and economic conditions are the first factor to consider when developing a hotel property.
The number of tourists, market demands, and economic factors all play a role in the decision to build or sell a hotel property.Competition is the second factor to consider when developing or selling a hotel property. A significant amount of competition in the hotel industry might be an indicator that new properties are required for specific niches, while an oversupply of rooms may indicate that development opportunities are less promising.Regulatory environment is the third factor to consider when developing or selling a hotel property. A developer should examine zoning restrictions and the legal requirements for construction projects in a certain region or area. The community and location of the property are also factors to consider.Internal factors of a company are the fourth factor to consider when developing or selling a hotel property. The company should have the capability to oversee and maintain the property. This will have an impact on whether or not the property is built or sold.Investment goals and objectives are the fifth factor to consider when developing or selling a hotel property.
Investment objectives are established in order to guide the investor's future activities, hence it is critical to define clear investment goals. Due Diligence Process: Determining the potential of the property, developing and implementing a plan, and ultimately closing the deal are all part of the due diligence process.The due diligence procedure comprises a comprehensive examination of all aspects of a property, from legal and financial issues to physical assessments. The following are the steps in the due diligence process: 1. Market research and feasibility study: Market analysis and feasibility study determine whether the hotel is viable. The market study examines the area's economic conditions, infrastructure, and the hotel's ability to compete.
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Suppose an organization has a strong capability to reduce defects and you wish to employ that capability to help develop sustainable practices. Identify the actions below that might work well with defect-reduction approaches.
Group of answer choices
Focus on what customers and stakeholders do not like related to sustainability issues.
Choose what to improve based on how much the qualities related to sustainability issues build customer satisfaction.
Choose what to improve based on customer value (benefits/cost) of attributes related to sustainability issues
Choose what to improve based on cost savings from addressing sustainability issues.
Use sustainability issues to build brand value.
Use sustainability to build retention and loyalty.
Use sustainability to promote the organization’s image.
Build standards, regulations and accounting systems to ensure compliance, and to provide managerial information to support better decision making related to sustainability issues that can reduce stakeholder feelings of dissatisfaction.
Use sustainability concepts to identify new defects to remove.
Use sustainability concepts to identify new customer groups.
The actions that might work well with defect-reduction approaches are
Choose what to improve based on cost savings from addressing sustainability issues; Use sustainability issues to build brand value; Use sustainability to build retention and loyalty; Use sustainability to promote the organization’s image; Build standards, regulations, and accounting systems to ensure compliance and provide managerial information to support better decision making related to sustainability issues that can reduce stakeholder feelings of dissatisfaction; Use sustainability concepts to identify new customer groups; and Use sustainability concepts to identify new defects to remove.An organization with a strong capability to reduce defects can employ that capability to help develop sustainable practices in a variety of ways. The actions below that might work well with defect-reduction approaches are:
Choose what to improve based on cost savings from addressing sustainability issues: The organization can choose the initiative to improve based on the cost savings from addressing sustainability issues.Use sustainability issues to build brand value: It is an excellent approach to employ the organization's capability to reduce defects and help develop sustainable practices.Use sustainability to build retention and loyalty: It is an effective approach to employ the organization's capability to reduce defects and help develop sustainable practices.Use sustainability to promote the organization’s image: It is a way to employ the organization's capability to reduce defects and help develop sustainable practices.Build standards, regulations, and accounting systems to ensure compliance and provide managerial information to support better decision making related to sustainability issues that can reduce stakeholder feelings of dissatisfaction: It is an excellent approach to employ the organization's capability to reduce defects and help develop sustainable practices by building standards, regulations, and accounting systems.Use sustainability concepts to identify new customer groups: It is a way to employ the organization's capability to reduce defects and help develop sustainable practices.Use sustainability concepts to identify new defects to remove: It is an excellent approach to employ the organization's capability to reduce defects and help develop sustainable practices by using sustainability concepts to identify new defects to remove.Learn more about Sustainability:
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Glueck Corp. reports sales revenue of $200,000. During the year, the company's accounts receivable balance decreased by $14,000. Additional information reveals that during the year accounts totaling $7,000 were written off and bad debt expense of $10,000 recognized. A journal entry prepared to determine cash collected from customers would include credits to (Select all that apply.)
Journal entries prepared to determine cash collected from customers would include credits to the "Accounts Receivable" and "Sales Revenue" accounts.
Here is the explanation Glueck Corp. reports sales revenue of $200,000. During the year, the company's accounts receivable balance decreased by $14,000. Additional information reveals that during the year accounts totaling $7,000 were written off and bad debt expense of $10,000 recognized. The Journal entries prepared to determine cash collected from customers would include credits to the "Accounts Receivable" and "Sales Revenue" accounts. It is important to understand that the revenue from sales is recorded in the Sales Revenue account. When a sale is made on account, the amount is recorded in the Accounts Receivable account.
When a customer pays their accounts receivable balance, the amount is recorded as a debit to the cash account and a credit to the Accounts Receivable account. Journal entries prepared to determine cash collected from customers would include credits to the Accounts Receivable and Sales Revenue accounts. Since $14,000 was collected from customers on account during the year, the Accounts Receivable account must be credited for this amount. The Sales Revenue account must also be credited for the total amount of sales made during the year, which is $200,000. Therefore, the journal entry to determine cash collected from customers would include the following: Accounts Receivable $14,000 Sales Revenue $200,000 .
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Five years ago your grandfather purchased for you a 25-year $1,000 bond with a coupon rate of 8 percent. You now wish to sell the bond and read that yields are 6 percent. What price should you receive for the bond? Assume that the bond pays interest annually. Use Appendix B and Appendix D to answer the question. Round your answer to the nearest dollar
Given data:Face value of the bond = $1000Coupon rate = 8%Years to maturity = 25 yearsSelling yield = 6%Annual interest payment = Coupon rate * Face value = 8% * $1000 = $80Selling price of the bond can be calculated by using the below formula:
PV = Annual interest payment * PVIFA + Redemption value * PVIFHere,PVIFA = Present value interest factor of an annuityPVIF = Present value interest factorPVIFA = [1 - 1/(1 + r)^n]/rPVIF = 1/(1 + r)^nwhere,r = Interest rate = 6%n = Years to maturity = 25 yearsCoupon payment is received annually, therefore, n = 25 yearsPVIFA = [1 - 1/(1 + r)^n]/r= [1 - 1/(1 + 0.06)^25]/0.06= 13.1839PVIF = 1/(1 + r)^n= 1/(1 + 0.06)^25= 0.2344Now,Putting the values in the formula:PV = Annual interest payment * PVIFA + Redemption value * PVIFPV = $80 * 13.1839 + $1000 * 0.2344PV = $1054.71Therefore, the selling price of the bond should be $1055 (nearest dollar).
Note:If the selling price of the bond is more than the face value of the bond i.e., PV > Face value, then it is selling at premium.If the selling price of the bond is less than the face value of the bond i.e., PV < Face value, then it is selling at discount.If the selling price of the bond is equal to the face value of the bond i.e., PV = Face value, then it is selling at par.
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