Therefore, specialists must fill a limit order, if possible, from the flow of public orders before trading for his own account. The correct answer is B.
On the NYSE, the specialist is responsible for maintaining a fair and orderly market for a particular stock. When a limit order is submitted and its price is more favorable than the specialist's bid or ask price, the limit order receives preference in establishing the posted bid and ask prices.
In this scenario, the specialist must prioritize filling the limit order from the flow of public orders, if possible, before trading for their own account. This ensures that public orders are given priority and that the market operates in a fair and transparent manner. The specialist's own account trading takes a secondary role after fulfilling the limit order from the public flow.
The correct answer is B.
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A. What type of the market research Ben & Jerry would have designed before launching the Doggie Desert and why?
B. Using terms discussed in class and in the textbook, what type of data Ben & Jerry would have collected and why?
C. Describe how would they have collected these data
A combination of primary and secondary data collection methods would have allowed Ben & Jerry to gather valuable insights and make informed decisions about the launch of their Doggie Dessert product
Before launching the Doggie Dessert, Ben & Jerry would have conducted market research to gather information about the target market, assess demand, and understand consumer preferences. This would help them make informed decisions about product development, marketing strategies, and pricing.
In terms of data collection, Ben & Jerry would have gathered primary and secondary data. Primary data refers to information collected directly from the target market through surveys, interviews, focus groups, or observation. They would have sought feedback on flavors, packaging, pricing, and other product attributes. Secondary data would have been collected from existing sources such as industry reports, market studies, and competitor analysis to gain insights into the pet food market, identify trends, and understand consumer behavior.
To collect primary data, Ben & Jerry could have conducted surveys or interviews with pet owners, pet stores, and veterinarians to gather insights on pet food preferences, dietary needs, and willingness to pay. They may have organized focus groups with pet owners to gain qualitative feedback on taste, texture, and packaging. Additionally, they could have observed consumer behavior and preferences by conducting field research at pet stores or through online platforms.
For secondary data, Ben & Jerry would have analyzed industry reports on pet food market size, growth rates, and trends. They would have studied competitor products and their market share, pricing strategies, and promotional activities. They may have also reviewed customer reviews and feedback on existing pet food brands to understand gaps and opportunities in the market.
Overall, a combination of primary and secondary data collection methods would have allowed Ben & Jerry to gather valuable insights and make informed decisions about the launch of their Doggie Dessert product.
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Which of the following must be considered before assessing the skills of equity fund managers?
a. The average dividend payout ratios
b. The P/E ratios of key market sectors
c. The industry sectors held in the funds
d. The interest yield curve
c. The industry sectors held in the funds.When assessing the skills of equity fund managers, it is important to consider the industry sectors in which the funds are invested.
This information helps evaluate the manager's ability to select stocks within specific sectors and their expertise in navigating industry trends and dynamics.
The other options, such as average dividend payout ratios, P/E ratios of key market sectors, and the interest yield curve, may provide additional insights but are not directly related to assessing the skills of equity fund managers.
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The average price of a gallon of gas in 2018 increased $0.30 (12.4 percent) from $242 in 2017 to $2.72 in 2018. Let's see whether these changes are reflected in the income statement of Mango Corporation for the year ended December 31, 2018 (amounts in billions). 2018 $ 274 157 Revenues Costs of Purchased Crude Oil and Products Other Operating costs Income before Income Tax Expense Income Tax Expense Net Income 2017 $ 232 124 93 15 83 34 10 $ 24 $ 15 Required: 1. Compute the gross profit percentage for each year. Assuming that the change from 2017 to 2018 is the beginning of a sustained trend, is Mango likely to earn more or less gross profit from each dollar of sales in 2019? 2. Compute the net profit margin for each year. Did Mango do a better or worse Job of controlling expenses other than the costs of crude oil and products In 2018 relative to 2017. 3. Mango reported average net fixed assets of $374 billion in 2018 and $372 billion in 2017. Compute the fixed asset turnover ratios for both years. Did the company better utilize its Investment in fixed assets to generate revenues in 2018 or 2017? 4. Mango reported average stockholders' equity of $184 billion in 2018 and $180 billion in 2017. The company has not Issued preferred stock. Compute the return on equity ratios for both years. Did the company generate greater returns for stockholders in 2018 or 2017?
1. Compute the gross profit percentage for each yearGross profit is the difference between the total revenue and the cost of goods sold. The cost of goods sold consists of all expenses associated with producing and selling goods and services.
To calculate the gross profit percentage, divide gross profit by total revenue and multiply by 100.2018 Gross Profit = $274 - $157 = $117 Billion2017 Gross Profit = $232 - $124 = $108 BillionGross Profit Margin 2018 = ($117 / $274) × 100 = 42.70%Gross Profit Margin 2017 = ($108 / $232) × 100 = 46.55%Given that the average price of gas increased from $2.42 to $2.72, the cost of goods sold could have increased.
Assuming that the increase in 2018 was the beginning of a sustained trend, Mango Corporation is likely to earn less gross profit from each dollar of sales in 2019.2. Compute the net profit margin for each yearNet profit margin is the percentage of net income earned by a company relative to its total revenue. It indicates the efficiency of the company in controlling its expenses and generating a profit.2018 Net Income = $24 Billion2017 Net Income = $15 BillionNet Profit Margin 2018 = ($24 / $274) × 100 = 8.76%Net Profit Margin 2017 = ($15 / $232) × 100 = 6.47%In 2018, Mango Corporation did a better job of controlling expenses other than the cost of crude oil and products than in 2017.
The net profit margin increased from 6.47% in 2017 to 8.76% in 2018.3. Compute the fixed asset turnover ratios for both yearsFixed asset turnover ratio is the efficiency ratio that measures how well a company utilizes its fixed assets to generate revenues.
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team norms may be associated with either positive or negative outcomes for the company.
TRUE. Team norms can have both positive and negative outcomes for a company. The impact of team norms depends on the nature and characteristics of the norms that are established within the team.
Positive team norms can promote collaboration, trust, and accountability among team members, leading to improved teamwork, productivity, and overall performance. On the other hand, negative team norms can hinder communication, create conflicts, and discourage cooperation, resulting in decreased team effectiveness and negative outcomes for the company.
Team norms are a set of shared expectations, beliefs, and behaviors that guide the interactions and functioning of team members. Positive team norms, such as open communication, mutual respect, and support for innovation, can foster a positive work environment and enhance team performance.
They promote a sense of belonging, encourage diverse perspectives, and facilitate effective decision-making. In contrast, negative team norms, such as lack of accountability, resistance to change, or poor communication, can lead to decreased morale, increased turnover, and decreased productivity within the team.
Therefore, it is essential for organizations to establish and reinforce positive team norms while actively addressing and mitigating negative norms to ensure positive outcomes for the company.
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Which of the following represent unique advantages of advertising via mobile search?
A) You can tailor the result to the location of the user
B) It is bought and sold in an online auction
C) It is based on the keyword searched for
D) You only pay for the results the user clicked on
Unique advantages of advertising via mobile search include (A) tiloring results to the user's location, (B) being bought and sold in an online auction, and (D) only paying for the clicked results.
Option A, tailoring results to the user's location, is a significant advantage of mobile search advertising. Mobile devices have location-tracking capabilities, allowing advertisers to deliver targeted ads relevant to the user's geographic location. This localization feature enhances the relevance and effectiveness of the ads.
Option B, the online auction model, is another advantage of mobile search advertising. Ad space on mobile search platforms is typically sold through real-time bidding auctions, where advertisers bid on keywords or user demographics to display their ads. This auction-based system promotes fair competition and enables advertisers to set their own budgets.
Option D, paying only for clicked results, is a cost-effective advantage of mobile search advertising. With pay-per-click (PPC) models, advertisers are charged only when users click on their ads, ensuring that they pay for tangible user engagement rather than just impressions. This approach maximizes the return on investment and allows advertisers to track the effectiveness of their campaigns more accurately.
In summary, advertising via mobile search offers unique advantages such as location-based targeting, online auction models for ad space, and a pay-per-click payment structure, making it a valuable and efficient advertising platform.
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What are the ""new"" and ""old"" rules for advantage competitive? (moat and turnstile analogy)
The concept of competitive advantage is critical in business. For a business to remain successful, it must continually adjust to the changing environment and market. When a company has a competitive advantage, it has an edge over its rivals. This edge allows it to create more value than its rivals.
However, over time, competitive advantage fades. The moat and turnstile analogy is an old model that explains the concept of competitive advantage.The Old Rules of Competitive AdvantageThe moat and turnstile analogy refers to the old rules of competitive advantage. A moat, in medieval times, was a ditch dug around a castle to keep the enemy out. In business, a moat is a metaphorical barrier that keeps the competition out. In the past, businesses relied on physical barriers to create a moat. These physical barriers could include distribution, location, access to resources, brand reputation, and economies of scale.
However, today, physical barriers are no longer enough. For example, distribution can no longer create a competitive advantage. The internet has made it easier for competitors to reach the same market.The New Rules of Competitive AdvantageTurnstiles are the new rules of competitive advantage. In contrast to moats, turnstiles allow for the free flow of goods and services. A turnstile is a mechanism that controls the flow of people or goods. In business, a turnstile is a mechanism that creates a flow of customers or data.
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Whirly Corporation's contribution format income statement for the most recent month is shown below: Total Per Unit $ 30.00 $ 267,000 Sales (8,900 units) Variable expenses Contribution margin 169,100 19.00 $11.00 97,900 Fixed expenses 54,500 Net operating income $ 43,400 Required: (Consider each case independently): 1. What would be the revised net operating income per month if the sales volume increases by 90 units? 2. What would be the revised net operating income per month if the sales volume decreases by 90 units? 3. What would be the revised net operating income per month if the sales volume is 7,900 units? 1. Revised net operating income 2. Revised net operating income 3. Revised net operating income
The revised net operating income will be as follows:1. Revised net operating income = $34,8902. Revised net operating income = $33,2103. Revised net operating income = $20,900.
1. The contribution margin per unit is $11.00, which means that every unit sold generates $11.00 to cover the fixed expenses and contribute to net operating income. Thus, if sales volume increases by 90 units, the revised net operating income per month will be:Total Sales = 8,900 + 90 = 8,990 unitsContribution margin = $11.00 per unitRevised net operating income = (Total Sales × Contribution margin) - Fixed expenses= (8,990 × $11.00) - $54,500= $34,8902. If sales volume decreases by 90 units, the revised net operating income per month will be:Total Sales = 8,900 − 90 = 8,810 unitsContribution margin = $11.00 per unitRevised net operating income = (Total Sales × Contribution margin) - Fixed expenses= (8,810 × $11.00) - $54,500= $33,2103. If sales volume is 7,900 units, the revised net operating income per month will be:Total Sales = 7,900 unitsContribution margin = $11.00 per unitRevised net operating income = (Total Sales × Contribution margin) - Fixed expenses= (7,900 × $11.00) - $54,500= $20,900Therefore, the revised net operating income will be as follows:1. Revised net operating income = $34,8902. Revised net operating income = $33,2103. Revised net operating income = $20,900.
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1.__________ requires analysis of decisions based on creating the greatest good for the most number of people.
Multiple Choice
duty-based reasoning.
unethical reasoning.
fact-based reasoning.
outcome-based reasoning.
2.A growing awareness of the importance of ethics is evident in the responses of:
Multiple Choice
businesses.
educational institutions.
trade and professional associations.
All of the options are correct.
3.Duty-based reasoning requires that ethical decisions should be based on:
Multiple Choice
thought experiments.
the consequences of actions.
creating the best outcome for a small, elite group of people.
creating the best outcome for the largest number of people.
1. Outcome-based reasoning requires analysis of decisions based on creating the greatest good for the most number of people.
2. growing awareness of the importance of ethics is evident in the responses of: All of the s are (business , educational institutions, trade and professional associations).
3. Duty-based reasoning requires that ethical decisions should be based on creating the best outcome for the largest number of people.
Outcome-based reasoning, also known as consequentialism, is an ethical approach that focuses on the consequences or outcomes of actions. It involves evaluating decisions based on their ability to create the greatest good or benefit for the most number of people. This perspective considers the overall well-being and utility of individuals or society as a whole. The principle of greatest good for the greatest number guides decision-making in outcome-based reasoning.
A growing awareness of the importance of ethics is indeed evident in the responses of various entities such as businesses, educational institutions, and trade and professional associations. In recent years, there has been an increasing recognition of the significance of ethical behavior and responsible practices in these sectors. Businesses are embracing corporate social responsibility and sustainable practices to build trust and enhance their reputation. Educational institutions are incorporating ethics into their curricula to prepare students for ethical decision-making in their careers. Trade and professional associations are promoting ethical codes of conduct to ensure high standards of professionalism and integrity among their members. This collective response reflects a societal shift towards valuing and prioritizing ethical considerations.
On the other hand, duty-based reasoning, also known as deontological ethics, emphasizes the importance of adhering to moral duties and principles when making ethical decisions. According to this approach, ethical actions are determined by following rules or obligations irrespective of the consequences. Duty-based reasoning does not solely focus on creating the best outcome for the largest number of people. Instead, it emphasizes the inherent moral value of certain actions and the adherence to principles such as honesty, fairness, and respect for individual rights.
Both outcome-based reasoning and duty-based reasoning provide different perspectives on ethical decision-making, with the former emphasizing consequences and the latter emphasizing moral duties and principles. The choice of which approach to adopt may depend on the specific ethical dilemma and the underlying values and beliefs of the decision-maker.
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The market equilibrium price will be _____ when there are external benefits associated with the production or consumption of some good, and it will be ______ when there are external costs present. Question 37 options: too high; too high too low; too low too low; too high
When there are external benefits associated with the production or consumption of some good, the market equilibrium price will be too low and it will be too high when there are external costs present.
What is market equilibrium price?The market equilibrium price is the price at which supply and demand intersect, that is, where the quantity demanded is equal to the quantity supplied. It is the point where buyers and sellers can agree on a price to trade a good or service. As a result, this price establishes market stability.In this scenario, there are external benefits associated with the production or consumption of some good, indicating that this product has positive externalities. The positive externalities create a benefit that is not accounted for in the market equilibrium price. As a result, the market equilibrium price will be too low because the demand curve doesn't reflect the entire advantage that society obtains from it.On the other hand, when there are external costs present, the product has negative externalities, which generate costs that are not taken into account in the market equilibrium price. As a result, the market equilibrium price will be too high because the supply curve doesn't reflect the entire cost of society.The externalities are a fundamental feature of the economy, and they play an important role in determining the market equilibrium price. Therefore, it is essential for policymakers to understand externalities and their consequences so they can make the appropriate decisions to ensure that society reaps the benefits of the economy.
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Given an economy where many consumers choose between coffee and tea in their consumer bundles. The coffee and tea demand functions depend on both prices of coffee and tea. Suppose the demand curve for coffee is given by the function; Q_{c} = 120 - 2P_{c} + P_{t} Where Q_{c} quantity of coffee is demanded, P_{c} and P_{t} are the prices of coffee and tea respectively. The demand curve for tea is given by the function; Q_{t} = 90 - 2P_{t} + P_{c}
Where Q_{t} is the quantity of tea demanded. Tea and coffee is grown in different parts of the world. The supply curves of coffee and tea are, therefore, not related. We further assume that the short-run supply curves for both coffee and tea are inelastic. Thus we have:
Q_{c} = 45 Supply curve for coffee and, Q_{t} = 30 Supply curve for tea.
a. Show that in equilibrium, the equilibrium quantities of coffee and tea are equal to the ~inelastic supplies of coffee and tea.
b. Suppose, because of climatic changes, there are freezing temperatures that adversely affects the short-run supply curve of coffee. This is shifted to Q - =30 How does this climatic change affect the equilibrium prices and quantities?
c. Determine own price elasticity of coffee and tea.
d. Determine whether tea and coffee are substitutes or complementary or independent goods. Clear reasoning will award you marks.
Answer:
a) The equilibrium quantities of coffee and tea are equal to the ~inelastic supplies of coffee and tea are Qc = 45 and Qt = 30, respectively.
In equilibrium, the quantity demanded for coffee (Qc) must equal the quantity supplied for coffee (Qc). Similarly, the quantity demanded for tea (Qt) must equal the quantity supplied for tea (Qt). Using the given demand and supply curves, we can set up the following equations to find the equilibrium quantities of coffee and tea:
Qc = 120 - 2Pc + Pt (Coffee demand)
Qt = 90 - 2Pt + Pc (Tea demand)
Qc = 45 (Coffee supply)
Qt = 30 (Tea supply)
By solving these equations simultaneously, we can find the equilibrium quantities of coffee (Qc) and tea (Qt). In this case, the equilibrium quantities will indeed be equal to the inelastic supplies of coffee and tea, which are Qc = 45 and Qt = 30, respectively.
b) If the short-run supply curve of coffee is adversely affected by freezing temperatures and shifted to Q'c = 30, this change will reduce the quantity supplied of coffee. As a result, the equilibrium quantity of coffee (Qc) will decrease. The decrease in the supply of coffee can lead to an increase in the equilibrium price of coffee (Pc) as the market adjusts to the reduced supply. However, the equilibrium quantity and price of tea (Qt and Pt) will not be directly affected by the change in coffee supply.
c) The own price elasticity of demand measures the responsiveness of quantity demanded to changes in price. To determine the own price elasticity of coffee and tea, we need to calculate the price elasticity of demand for each good using the respective demand functions. The formula for price elasticity of demand is:
Elasticity = (% change in quantity demanded) / (% change in price)
By applying this formula to the coffee and tea demand functions, we can calculate their own price elasticities.
d) To determine whether coffee and tea are substitutes, complements, or independent goods, we can analyze the signs of the cross-price elasticities between the two goods. If the cross-price elasticity is positive, it indicates that coffee and tea are substitutes, meaning an increase in the price of one will lead to an increase in the demand for the other. If the cross-price elasticity is negative, it suggests that coffee and tea are complements, meaning an increase in the price of one will lead to a decrease in the demand for the other. If the cross-price elasticity is close to zero, it implies that coffee and tea are independent goods, meaning changes in the price of one do not significantly affect the demand for the other.
To determine the nature of the relationship between coffee and tea, we can calculate the cross-price elasticity using the demand functions provided and examine its sign.
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Please i need help with this Homework
Input area: In Thousands$ Cost of goods sold Cash Depreciation Interest expense Selling & Administrative Accounts payable Net fixed assets Sales Accounts receivable Notes payable Long-term debt Invent
Sure, here's an input area based on the information provided:
Input Area:
Cost of goods sold:
8,000
Cash:
10,000
Depreciation:
2,000
Interest expense:
3,000
Selling & Administrative:
4,000
Accounts payable:
5,000
Net fixed assets:
12,000
Sales:
18,000
Accounts receivable:
10,000
Notes payable:
7,000
Long-term debt:
55,000
Note: The input area is just a summary of the financial information provided, and the actual values used in financial planning and analysis may vary depending on the specific needs and goals of Jamie and Claire.
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Which of the following is not a type of technical problem solving? O A. Troubleshooting O B. Experimentation O C. Invention O D. Design E. (a), (b), (c), and (d) are all types of technical problem solving
The answer to the question is (E) - (a), (b), (c), and (d) are all types of technical problem-solving. None of the options listed in A, B, C, and D are excluded from the types of technical problem-solving.
The question asks which option is not a type of technical problem-solving. The correct answer is (E) - (a), (b), (c), and (d) are all types of technical problem-solving. Each of the options A, B, C, and D represents a distinct type of technical problem-solving approach.
Troubleshooting refers to the process of identifying and resolving issues or malfunctions in a system or device. It involves diagnosing problems and implementing solutions to restore functionality.
Experimentation involves conducting systematic tests or trials to gather data and gain insights into a specific problem or phenomenon. It aims to explore different variables, conditions, or approaches to find an optimal solution. Invention is the process of creating or discovering something new by utilizing existing knowledge, skills, and resources. It involves developing innovative solutions or products to address specific needs or problems.
Design refers to the process of conceptualizing, planning, and creating a structure, system, or product. It involves considering various factors, such as functionality, aesthetics, and usability, to develop an effective and efficient solution. Therefore, all the options listed in A, B, C, and D represent different types of technical problem-solving, and (E) is the correct answer stating that they are all types of technical problem-solving.
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Suppose the term structure of interest rates has these spot interest rates: r₁ = 5.5%. r2 = 5.3%, r3 = 5.1%, r4 = 4.9%, and r5 = 6.5%. 04:21:12 a. What will be the 1-year spot interest rate in three years if the expectations theory of term structure is correct? (Do not round intermediate calculations. Enter your answer as a percent rounded to 1 decimal place.) % 1-year spot in 3 years b. If investing in long-term bonds carries additional risks, then how would the risk equivalent of a 1-year spot rate in three years relate to your answer to part (a)? O Less than O Greater than O Equal to
The estimated 1-year spot interest rate in three years is 94.34% and the risk equivalent rate would be higher than the estimated 1-year spot interest rate in three years.
a. According to the expectations theory of term structure, the 1-year spot interest rate in three years can be estimated by taking the average of the forward rates. The forward rate is calculated as the ratio of spot interest rates for the future period. In this case, the forward rate for a 2-year period starting in two years would be
[tex]\(\frac{r_4}{r_2} = \frac{4.9\%}{5.3\%} = 0.9245\).[/tex]
The forward rate for a 1-year period starting in two years would be
[tex]\(\frac{r_3}{r_2} = \frac{5.1\%}{5.3\%} = 0.9623\).[/tex]
Taking the average of these two forward rates, we get
[tex]\(\frac{0.9245 + 0.9623}{2} = 0.9434\).[/tex]
b. If investing in long-term bonds carries additional risks, the risk equivalent of a 1-year spot rate in three years would likely be greater than the answer in part (a). This is because the additional risks associated with long-term bonds would result in a higher required rate of return for investors. Consequently, the risk equivalent rate would be higher than the estimated 1-year spot interest rate in three years derived from the expectations theory of term structure.
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Data used for the purpose for which they were collected are _________ data
Data used for the purpose for which they were collected are termed "purpose-bound" or "legitimate" data. These data are collected with a specific objective in mind and are utilized exclusively for that intended purpose.
Data collected for a specific purpose, such as conducting research, providing a service, or completing a transaction, are considered purpose-bound or legitimate data. These data are obtained with the informed consent of the individuals involved, and their usage is restricted to the intended objective. Organizations must clearly communicate the purpose of data collection to individuals and ensure that their data is not used for any unrelated or unauthorized activities. The principle of purpose limitation is a fundamental aspect of data protection and privacy regulations, such as the General Data Protection Regulation (GDPR). It ensures that personal data is not repurposed without the knowledge and consent of the data subjects. If there is a need to use the data for a different purpose, organizations must obtain explicit consent or follow legal justifications, such as fulfilling a legal obligation or protecting vital interests. In summary, purpose-bound or legitimate data are collected for a specific purpose and can only be used for that intended objective. Deviating from the original purpose requires obtaining additional consent or complying with appropriate legal and ethical guidelines to protect the privacy and rights of the individuals whose data is being utilized.
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( an organization that is in need of a change and present how the team will manage the change process by incorporating the three essential responsibilities of HRM, focusing on one subsystem that requires change within the organization)
Overview of the Organization: (Walmart)
Provide an overview of the organization.
Justify the choice of the organization.
Identify the change needed and how the issue has impacted the organization.
Organizational Subsystems in Need of Change Within the Organization:
Identify three of the subsystems in the organization that relate to the needed change that was identified.
Of the three subsystems chosen, identify the main subsystem that failed and led to the problem.
Provide a justification or explanation for choosing the subsystem for change.
Walmart is an American multinational retail corporation that operates a chain of discount department stores and grocery stores. It was founded in 1962 by Sam Walton and has since grown to become the world's largest company by revenue.
Walmart is known for its low prices and its commitment to providing customers with a wide range of products. Justification for the choice of the organization Walmart has been chosen for this analysis because it is an organization that has undergone significant changes in the past and is currently facing several challenges. The company's size and scope make it an excellent example of how HRM can be used to manage change effectively. Change needed and how the issue has impacted the organizationThe change needed is related to improving the company's supply chain management system. The issue has impacted the organization in several ways, including increased costs, lower-quality products, and longer wait times for customers. Organizational Subsystems in Need of Change Within the OrganizationThree of the subsystems in Walmart that relate to the needed change include the company's procurement system, its inventory management system, and its logistics system. Of the three subsystems, the logistics system has failed the most, leading to many of the problems the company is facing. Provide a justification or explanation for choosing the subsystem for changeThe logistics system was chosen for change because it is the subsystem that is most directly related to the company's supply chain management. By improving the logistics system, the company can reduce costs, improve product quality, and provide customers with a better shopping experience.
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all of the following are examples of warranties, except:select the correct answer below:
a drill company advertises that it will repair any drill if a fault arises within the first three years of purchase.
a handyman who is remodeling a bathroom writes in his contract that he will repair any tiles that come loose within two years of the completion of the remodel.
a car dealership outlines what the car manufacturer will do if there are certain problems with the vehicle within a five-year period.
a clothing company encourages customers to return items purchased for a full refund within 90 days if they are unsatisfied with their purchase for any reason.
ANSWER: All of the following are examples of warranties except a clothing company encouraging customers to return items purchased for a full refund within 90 days if they are unsatisfied with their purchase for any reason.
A warranty is a guarantee given to the purchaser by the manufacturer or seller of a product or service. The guarantee indicates that if the product or service fails to perform as promised or agreed upon, the purchaser will be entitled to some form of compensation or repair. WARRANTIES are contractual agreements that provide the purchaser with protection against defects, damage, or failures in a product or service. The following are some examples of warranties: a drill company advertises that it will repair any drill if a fault arises within the first three years of purchase. a handyman who is remodeling a bathroom writes in his contract that he will repair any tiles that come loose within two years of the completion of the remodel. a car dealership outlines what the car manufacturer will do if there are certain problems with the vehicle within a five-year period.
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PMTS relies on a data base of basic motion elements. a True b. False 20. For highly repetitive jobs with short cycle times performed by one worker, the work sampling is preferred over the direct time study. a. True b. False B- What are the prerequisites for valid time standards? 1- 2- 3- 4- Question2: A total of 8 cycles have been observed during a direct time study. The mean for the largest element time = 1.42 min, and the corresponding sample standard deviations = 0.30 min. a- what is the 95% confidence interval on the 1.42 min element time? (-2.365) b- If the analyst wants to be 98% confident that the mean of the sample was within ±10% of the true mean, how many more observations should be taken?(t-2.998)
The direct time study is the most widely used method of time study, and the work sampling method is used when highly repetitive jobs with short cycle times are performed by a single worker
Answer to question 1a.PMTS relies on a data base of basic motion elements. False. Explanation: PMTS (Predetermined motion time systems) relies on a database of basic motion elements. The operator is assigned a task, and each element of the task is looked up in a database and timed. This provides a time value for the task. This time value is determined based on the standards determined by the system. The system ensures that the predetermined time reflects a fair and reasonable expectation of the work, allowing a reasonable amount of time for the operator to perform the job. B. Prerequisites for valid time standards are as follows:1. The analyst must have an in-depth knowledge of the process and its elements. 2. Representative, skilled operators must perform the tasks being timed.3. A representative sample size must be used.4. The data must be obtained under normal working conditions and without excessive fatigue or interruptions. The direct time study is the most widely used method of time study, and the work sampling method is used when highly repetitive jobs with short cycle times are performed by a single worker. Answer: True
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6. One legal challenge an employee can make against a positive result from random substance abuse testing at the work place, one which has the greatest possibility for overturning the positive test, is most likely that
a. the employee was not sufficiently impaired as to affect his or her performance
b. the use of the substance actually occurred the day prior to the testing while the employee was off work
c. the employee was not warned he or she would be tested that day
d. the collection and testing procedure was improperly implemented or conducted
e. the violator is not employed in a "sensitive" or "dangerous" position
The most plausible legal challenge against a positive substance abuse test result is improper implementation or conduct of the collection and testing procedure.
The legal challenge an employee can make against a positive result from random substance abuse testing at the workplace, one which has the greatest possibility for overturning the positive test, is that the collection and testing procedure was improperly implemented or conducted.What is substance abuse testing?Substance abuse testing is a procedure that identifies if a person has consumed or used alcohol or drugs and is the process of evaluating urine, blood, and other bodily fluids for the existence of drugs or alcohol. Drug testing can be random or conducted at regular intervals, depending on the company's rules and regulations.There are various reasons why an employee could challenge a positive test for substance abuse. These include not being under the influence of drugs or alcohol, use of the substance actually occurred the day before testing while the employee was off work, the employee was not warned he or she would be tested that day, the collection and testing procedure was improperly implemented or conducted, and the violator is not employed in a "sensitive" or "dangerous" position.The collection and testing procedure was improperly implemented or conducted is the most plausible legal challenge an employee can make against a positive result from random substance abuse testing at the workplace.
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What is the capital adequacy ratio? Why does the government set minimum capital adequacy ratios for banks? If the central bank wanted to restrict lending in credit markets, how would it adjust the minimum capital adequacy ratio of banks?
Answer:
The capital adequacy ratio (CAR) is a measure of a bank's financial strength and stability, absorb potential losses, and supports its operations. It is calculated by dividing a bank's capital by its risk-weighted assets.
The government sets minimum capital adequacy ratios for banks to safeguard the stability of the financial system and protect depositors and creditors. Banks are exposed to credit risk and market risk. By requiring banks to maintain a minimum level of capital relative to their risk-weighted assets, the government ensures that banks have sufficient resources to cover potential losses and reduce the likelihood of insolvency. It promotes the safety and soundness of the banking sector, enhances financial stability, and protects the broader economy from systemic risks.
If the central bank wants to restrict lending in credit markets, it can adjust the minimum capital adequacy ratio of banks. By increasing the minimum capital adequacy ratio, the central bank raises the required capital base for banks in relation to their risk-weighted assets. It is a measure to tighten credit availability, discourage excessive risk-taking, and promote financial stability.
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Question 4
With examples, explain how economists (and others) can put a value on something for which there is no existing market. In your answer include a critical assessment of the advantages and disadvantages of the methods of non-market valuation you discuss, and explain the relevance of Hicksian welfare measures in this context.
There are a variety of ways in which economists and other professionals can place a value on something that lacks a market. This is known as non-market valuation. It is a set of techniques used to determine the value of goods and services that are not traded in markets. This could include the value of clean air or the value of a particular ecosystem.Examples:One method of non-market valuation is the Contingent Valuation Method (CVM). This method assesses the hypothetical willingness of people to pay for a specific good or service.
This is done through surveys. People are asked what they would be willing to pay for a good or service that does not exist in the market.Another method is the Travel Cost Method (TCM). It examines the cost that an individual incurs to visit a particular recreational site as a proxy for the value they place on that location. A third method, the Hedonic Pricing Method (HPM), looks at the prices that people are willing to pay for specific goods, such as houses, to determine the value of amenities that are not priced separately.The main benefit of non-market valuation is that it provides a way to capture the value of goods and services that would otherwise be ignored. It allows decision-makers to compare the economic benefits and costs of different activities. However, there are also some limitations. One of the biggest challenges is the difficulty in obtaining accurate information from survey respondents.The Hicksian welfare measure is used to determine changes in the total value of economic activity in the economy. It is useful in this context because it can be used to evaluate changes in non-market goods. The Hicksian measure focuses on the change in consumer and producer surplus that results from a change in market prices. As a result, it can be used to estimate the value of goods and services that do not have a market price.However, the Hicksian welfare measure also has some limitations. For example, it can be difficult to determine how much people value non-market goods. Additionally, it may not be appropriate in cases where income distribution is an important consideration. In conclusion, non-market valuation techniques, such as CVM, TCM, and HPM, can provide valuable information about the value of goods and services that are not traded in markets. These methods can help to inform decision-making and can be used in conjunction with Hicksian welfare measures to estimate the value of non-market goods. However, there are also limitations to these methods, and they should be used with caution.
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Recording effects of transactions in T-accounts A1 Check Cash ending balance. $94.850 For the following transactions of Spade Company, (1) prepare general journal entries and (2) post entric to T-accounts and calculate the ending balance of each T-account. Use the following accounts: Cash; Ac counts Receivable; Supplies: Equipment, Accounts Payable: K. Spade, Capital: K. Spade, Withdrawals Services Revenue; and Rent Expense. a. K. Spade, owner, invested $100,750 cash in the company. b. The company purchased supplies for $1.250 cash. c. The company purchased $10,050 of equipment on credit. d. The company received $15.500 cash for services provided to a customer. e. The company paid $10,050 cash to settle the payable for the equipment purchased in transaction c. t. The company billed a customer $2,700 for services provided. 9. The company paid $1,225 cash for the monthly rent. h. The company collected $1.125 cash as partial payment for the account receivable created in transaction f i. K. Spade withdrew $10,000 cash from the company for personal use. C Equ D. Be Use informa transactions.
T-Accounts can be defined as informal records used to summarize the ledger entries made to a company's accounts. The left-hand side of the T-account is known as the debit side, while the right-hand side is known as the credit side.
Below are the transactions and the appropriate T-Accounts: A The company's owner, K. Spade, deposited $100,750 in cash into the company's account. Accounts affected: Cash and Capital Account Debit CreditCash $100,750Capital $100,750Transaction BThe company bought supplies worth $1,250 in cash. Version affected: Supplies and CashAccount Debit CreditSupplies $1,250Cash $1,250 Transaction C. The company bought equipment on credit worth $10,050.
Accounts affected: Equipment and Accounts Payable Account Debit Credit Equipment $10,050 Accounts Payable $ 10,050 Transaction D The company received $15,500 cash for services rendered. Versions affected: Cash and Services Revenue Account Debit Credit Cash $15,500 Services Revenue $15,500 Transaction E The company paid $10,050 in cash to settle the amount owed for the equipment purchased on credit in transaction C.Accounts affected: Cash and Accounts PayableAccount Debit Credit Accounts Payable $10,050 Cash $10,050 Transaction F The company billed a customer $2,700 for services provided.
Accounts affected: Accounts Receivable and Services RevenueAccount Debit CreditAccounts Receivable $2,700Services Revenue $2,700 Transaction G The company paid $1,225 in cash for rent.Accounts affected: Rent Expense and Cash Account Debit Credit Rent Expense $1,225 Cash $1,225 Transaction H The company received $1,125 cash as partial payment for the bill receivable created in transaction F.Accounts affected: Cash and Accounts Receivable Account Debit Credit Cash $1,125Accounts Receivable $1,125Transaction IThe company's owner, K. Spade, withdrew $10,000 in cash for personal use.Accounts affected: Capital and WithdrawalsAccount Debit CreditWithdrawals $10,000Capital $10,000.
The following is the updated T-account for cash: A1 Check Cash ending balance $94.850 Transaction Debit Credit BalanceOpening Balance $0$0 Transaction A $100,750 $100,750 Transaction B $1,250 $101,000 Transaction D $15,500 $116,500 Transaction E $10,050 $106,450 Transaction G $1,225 $105,225Transaction H $1,125 $106,350 Transaction I $10,000 $96,350. The cash T-account ending balance is $96,350.
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CASE: Samsung introduced its "Samsung Galaxy Pocket" model in some African countries for a very low price (about $120= BHD 46) to gain large market share there. QUESTION: Identify the pricing strategy used in this example?
The pricing strategy used in Samsung's example to introduce the Samsung Galaxy Pocket in some African countries for a very low price (about $120 = BHD 46) to gain a large market share is "Penetration Pricing.
Penetration pricing is a pricing method that is used by businesses when they launch a new product or service. The aim of this pricing strategy is to increase market share rapidly. This approach entails setting prices lower than the competition's and then increasing them when the product or service becomes more widely accepted. Penetration pricing helps firms penetrate new markets and grow their customer base.
The lower price is used to entice consumers to try the product and raise awareness. Once consumers have accepted the product, the firm will raise the price to increase profitability. Penetration pricing, on the other hand, is not without risks. If the price is too low, the business may struggle to recover its costs. Furthermore, the organization's reputation may be harmed if it lowers the price too much.
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Exercise #2. Suppose a single-product monopoly incurring a marginal cost of production equal to 2. Q11) Determine the profit maximizing price when the elasticity of demand is equal to -2. .
The profit maximizing price when the elasticity of demand is equal to -2 is $14. The profit-maximizing quantity is 36, and the profit-maximizing price is $14.
A single-product monopoly incurring a marginal cost of production equal to 2 and with the elasticity of demand equal to -2 must determine the profit-maximizing price by following these steps:
Step 1: Compute the inverse demand function.
To compute the inverse demand function, we first need the demand function, which we can derive from the elasticity of demand formula:
-2 = (dQ/Q)/(dP/P)
which implies that dQ/dP = (-2) x (P/Q).
We can rearrange this formula to obtain P = - (Q/2) x (dQ/dP).
Since the quantity demanded is unknown, we must express it in terms of P. To do so, we use the demand equation,
Q = 100 - 5P.
Therefore, P = - (100 - 5P)/2, which simplifies to P = 40 - (5/2) x P.
Rearranging the terms, we get
P = (2/7) x 40 = 80/7, which is the inverse demand function.
Step 2: Compute the marginal revenue function.
To compute the marginal revenue function, we need to differentiate the inverse demand function with respect to Q. Since the inverse demand function is
P = 80/7 - (5/14) x Q, the marginal revenue function is
MR = dTR/dQ
= P + Q x dP/dQ
= (80/7) - (10/7) x Q.
Step 3: Compute the marginal cost. Since the marginal cost is equal to 2, we can use it to find the quantity that maximizes profit.
Setting MR = MC, we obtain (80/7) - (10/7) x Q = 2, which simplifies to Q = 36.
Therefore, the profit-maximizing quantity is Q* = 36.
Step 4: Compute the profit-maximizing price.
To compute the profit-maximizing price, we can use either the demand function or the inverse demand function. Using the demand function, we get
P* = (100 - 5 x 36)/2 = 14.
Using the inverse demand function, we get
P* = 80/7 - (5/14) x 36 = 14.
Therefore, the profit-maximizing price is P* = 14.
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Foundation, Incorporated, is comparing two different capital structures: an all-equity plan (Plan I) and a levered plan (Plan II). Under Plan I, the company would have 145,000 shares of stock outstanding. Under Plan II, there would be 125,000 shares of stock outstanding and $716,000 in debt outstanding. The interest rate on the debt is 8 percent, and there are no taxes. a. Use M&M Proposition I to find the price per share. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
b. What is the value of the firm under each of the two proposed plans? (Do not round intermediate calculations and round your answers to the nearest whole number, e.g., 32.)
For the given two capital structures with details of interest rate on debt and shares of stock outstanding, the required solutions are:
a. Price per share is $4.94 under Plan I and $5.73 under Plan II
b. The value of the firm under Plan I is $715,300 and the value of the firm under Plan II is $1,333,500
a. Calculation of price per share using M&M Proposition I is as follows:
Price per share under Plan I = [$716,000 / 145,000] = $4.94
Price per share under Plan II = [$716,000 / 125,000] = $5.73
Therefore, price per share is $4.94 under Plan I and $5.73 under Plan II.
b. Calculation of the value of the firm under each of the two proposed plans is as follows:
Value of the firm under Plan I = Number of shares * Price per share = 145,000 * $4.94 = $715,300
Value of the firm under Plan II = Value of the firm without leverage + (Debt * (1 - Tax rate))
= (125,000 * $4.94) + ($716,000 * (1 - 0))
= $617,500 + $716,000
= $1,333,500
Therefore, the value of the firm under Plan I is $715,300 and the value of the firm under Plan II is $1,333,500.
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*Examine 3 main features or components of an organizational system. Discuss their functions
An organizational system typically consists of several interconnected components. Three main features or components of an organizational system are structure, processes, and culture.
Structure refers to the way the organization is designed and organized. It includes elements such as hierarchy, departments, and reporting relationships. The function of the organizational structure is to provide a framework for coordination, communication, and decision-making within the organization. It defines roles and responsibilities, establishes lines of authority, and ensures efficient workflow.
Processes are the series of activities or steps that are undertaken to accomplish specific tasks or achieve desired outcomes. They encompass various operational and managerial activities such as production processes, sales processes, and financial processes. The function of processes is to streamline and optimize the flow of work, ensure consistency and quality, and improve efficiency and effectiveness. Well-defined processes enable employees to perform their tasks in a structured and systematic manner, leading to increased productivity and customer satisfaction.
Culture represents the shared values, beliefs, norms, and behaviors that exist within an organization. It shapes the organizational identity and influences the attitudes and behaviors of employees. The function of organizational culture is to create a sense of belonging, provide a common purpose, and guide decision-making and interactions. A strong and positive culture promotes employee engagement, collaboration, and innovation, fostering a conducive work environment.
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Janice Huffman has decided to start Perez Cleaning, a residential housecleaning service company. She is able to rent cleaning equipment at a cost of $720 per month. Labor costs are expected to be $75 per house cleaned and supplies are expected to cost $9 per house. Required a. Determine the total expected cost of equipment rental and the average expected cost of equipment rental per house cleaned. assuming that Perez Cleaning cleans 10, 20, or 30 houses during one month. Is the cost of equipment a fixed or a variable cost? b. Determine the total expected cost of labor and the average expected cost of labor per house cleaned, assuming that Perez Cleaning cleans 10, 20, or 30 houses during one month. Is the cost of labor a fixed or a variable cost? c. Determine the total expected cost of supplies and the average expected cost of supplies per house cleaned, assuming that Perez Cleaning cleans 10, 20, or 30 houses during one month. Is the cost of supplies a fixed or a variable cost? d. Determine the total expected cost of cleaning houses, assuming that Perez Cleaning cleans 10, 20, or 30 houses during one month. e. Determine the average expected cost per house, assuming that Perez Cleaning cleans 10, 20, or 30 houses during one month.
a. The total expected cost of equipment rental is $720 per month, regardless of the number of houses cleaned. Therefore, the cost of equipment rental is a fixed cost.
To calculate the average expected cost of equipment rental per house cleaned, divide the total expected cost of equipment rental by the number of houses cleaned:
Average expected cost of equipment rental per house cleaned = Total expected cost of equipment rental / Number of houses cleaned
For 10 houses cleaned: $720 / 10 = $72 per house
For 20 houses cleaned: $720 / 20 = $36 per house
For 30 houses cleaned: $720 / 30 = $24 per house
b. The total expected cost of labor depends on the number of houses cleaned. The cost per house cleaned is $75. Therefore, the cost of labor is a variable cost.
To calculate the total expected cost of labor, multiply the cost per house cleaned by the number of houses cleaned:
Total expected cost of labor = Cost per house cleaned x Number of houses cleaned
For 10 houses cleaned: $75 x 10 = $750
For 20 houses cleaned: $75 x 20 = $1,500
For 30 houses cleaned: $75 x 30 = $2,250
To calculate the average expected cost of labor per house cleaned, divide the total expected cost of labor by the number of houses cleaned:
Average expected cost of labor per house cleaned = Total expected cost of labor / Number of houses cleaned
For 10 houses cleaned: $750 / 10 = $75 per house
For 20 houses cleaned: $1,500 / 20 = $75 per house
For 30 houses cleaned: $2,250 / 30 = $75 per house
c. The total expected cost of supplies depends on the number of houses cleaned. The cost per house cleaned is $9. Therefore, the cost of supplies is a variable cost.
To calculate the total expected cost of supplies, multiply the cost per house cleaned by the number of houses cleaned:
Total expected cost of supplies = Cost per house cleaned x Number of houses cleaned
For 10 houses cleaned: $9 x 10 = $90
For 20 houses cleaned: $9 x 20 = $180
For 30 houses cleaned: $9 x 30 = $270
To calculate the average expected cost of supplies per house cleaned, divide the total expected cost of supplies by the number of houses cleaned:
Average expected cost of supplies per house cleaned = Total expected cost of supplies / Number of houses cleaned
For 10 houses cleaned: $90 / 10 = $9 per house
For 20 houses cleaned: $180 / 20 = $9 per house
For 30 houses cleaned: $270 / 30 = $9 per house
d. The total expected cost of cleaning houses is the sum of the total expected cost of equipment rental, labor, and supplies.
Total expected cost of cleaning houses = Total expected cost of equipment rental + Total expected cost of labor + Total expected cost of supplies
For 10 houses cleaned: $720 + $750 + $90 = $1,560
For 20 houses cleaned: $720 + $1,500 + $180 = $2,400
For 30 houses cleaned: $720 + $2,250 + $270 = $3,240
e. The average expected cost per house is the total expected cost of cleaning houses divided by the number of houses cleaned.
Average expected cost per house = Total expected cost of cleaning houses / Number of houses cleaned
For 10 houses cleaned: $1,560 / 10 = $156 per house
For 20 houses cleaned: $2,400 / 20
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i want a full resarch on Descriptive Analysis on social media
for customer engagement
Social media platforms have turned into a vital tool for companies looking to increase their customer engagement, build their brand, and boost sales. Therefore, companies need to understand how customers engage with social media so that they can improve their marketing strategies and attract more clients. In this article, we'll take a look at how descriptive analysis can help companies get a deeper understanding of customer engagement on social media.
Descriptive analysis refers to the process of finding the meaning behind the data gathered by organizing and summarizing it using statistical and computational tools. Descriptive analysis is a vital tool for companies looking to understand customer engagement on social media. By analyzing data from social media platforms, companies can gain insights into how their customers engage with their brands. They can then use this information to develop marketing strategies that are tailored to their customers' preferences and interests. This way, they can increase their customer engagement, improve their brand reputation, and boost sales.
Descriptive Analysis on Social Media:
Descriptive analysis enables companies to understand how customers engage with their brands on social media. Companies can use the information obtained from descriptive analysis to develop marketing strategies that are tailored to their customers' preferences and interests. This way, they can increase their customer engagement and improve their brand reputation. The first step in conducting descriptive analysis is to identify the data sources. There are several sources of data that companies can use to analyze customer engagement on social media.
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21 t of Why is it necessary to change the format of the worksheet where a NCI exists in the group?
It is necessary to change the format of the worksheet where a NCI (Non-Controlling Interest) exists in the group to reflect the appropriate accounting treatment and distinguish the financial impact of the NCI on the consolidated financial statements.
When a Non-Controlling Interest exists in a group, it means that a portion of the subsidiary is not owned by the parent company. To accurately present the financial position and performance of the consolidated entity, the worksheet format needs to accommodate the separate reporting of the NCI's equity and related income or loss.
This allows for the appropriate elimination of NCI's share from the consolidated financial statements, enabling a clear representation of the controlling interest's ownership and the financial effects attributable to the non-controlling shareholders. Thus, changing the worksheet format ensures the accurate reflection of the NCI's impact on the consolidated financial statements.
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It is necessary to change the format of the worksheet where a NCI (Non-Controlling Interest) exists in the group to differentiate between the parent company's ownership and the NCI's ownership percentage, and to ensure that the financial statements are accurate and complete.
The NCI represents the ownership percentage of the subsidiary that is not controlled by the parent company. The NCI appears in both the statement of financial position and the statement of comprehensive income.
Thus, the format of the worksheet must be changed to differentiate the two. The two will have separate columns to ensure that the numbers are correctly recorded and presented. The worksheet should also show the parent company's ownership percentage of the subsidiary and the NCI's percentage.
In case of any transactions that involve the subsidiary, it is necessary to ensure that the NCI is also involved in the transaction. This ensures that the financial statements show the effect of the transaction on the NCI. Changing the format of the worksheet in this case ensures that the financial statements are accurate and complete.
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As long as a country has high GDP growth rate, it can be categorized as an emerging market economy.
A. True
B. False
The statement "As long as a country has high GDP growth rate, it can be categorized as an emerging market economy" is False. A high GDP growth rate is an important factor in the development of emerging market economies, but it is not the only factor.
An emerging market economy is a developing nation that is quickly improving its economic status. Emerging market economies are characterized by rapid growth, rising income levels, and improving standards of living. They are in a transitional phase between developing and developed economies.Emerging market economies are not the same as developed market economies because they face several challenges such as political instability, low levels of education, poverty, and a lack of infrastructure. These economies also depend on international investments, which can be risky.As a result, several criteria are used to categorize a country as an emerging market economy, including GDP growth rate, per capita income, level of industrialization, level of economic diversification, size of the domestic market, and the quality of governance. The International Monetary Fund (IMF) classifies countries based on these criteria, including their level of development, their degree of international trade, their degree of market liberalization, and their level of financial integration.A high GDP growth rate is an important factor in the development of emerging market economies, but it is not the only factor. The other factors listed above also play significant roles in the classification of a country as an emerging market economy.
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The Complete Accounting Cycle Without a Work Sheet: Two Months (second month optional) P10. On June 1, 2014, Bob Lutz opened Lutz Repair Service. During the month, he i completed the following transactions for the company: June 1 Began business by depositing $20,000 in a bank account in the name of the company. 1 Paid the rent for the store for current month, $1,700. 1 Paid the premium on a one-year insurance policy, $1,920, 2 Purchased repair equipment from Bilbao Company, $16,800. Terms were $2,400 down and $1,200 per month for one year. First payment is due June 1. 5 Purchased repair supplies from Rusin Company on credit, $1,872. Paid cash for an advertisement in a local newspaper, $240. 8 15 Received cash repair revenue for the first half of the month, $1,600. Paid Rusin Company on account, $900. 21 30 Received cash repair revenue for the last half of May, $3,900. 30 Made a withdrawal, $1,200. Prepare journal entries to record the June transactions. Include the Post. Ref. column and fill in using the account numbers listed in requirement 2. 2. Open the following accounts: Cash (111); Prepaid Insurance (117); Repair Sup plies (119); Repair Equipment (144); Accumulated Depreciation-Repair Equip- ment (145); Accounts Payable (212); B. Lutz, Capital (311); B. Lutz, Withdrawals (313); Income Summary (314); Repair Revenue (411), Store Rent Expense (511); Advertising Expense (512); Insurance Expense (513); Repair Supplies Expense (514); and Depreciation Expense-Repair Equipment (515). Post the May journal entries to the ledger accounts. 3. Using the following information, record adjusting entries in the general journal and post to the ledger accounts: d. One month's insurance has expired. c. The remaining inventory of unused repair supplies is $676. f The estimated depreciation on repair equipment is $280. 4. From the accounts in the ledger, prepare an adjusted trial balance. (Note: Normally, a trial balance is prepared before adjustments but is omitted here to save time.) 5. From the adjusted trial balance, prepare an income statement, a statement of own- er's equity, and a balance sheet for Junc. 6. Prepare and post closing entries. 7. Prepare a post-closing trial balance. (Optional) During July, Bob Lutz completed these transactions for Lutz Repair Service: July 1 Paid the monthly rent, $1,700. 1 Made the monthly payment to Bilbao Company, $1,200. 6 Purchased additional repair supplies on credit from Rusin Company, $3,452. 15 Received cash repair revenue for the first half of the month, $3,656. 20 Paid cash for an advertisement in the local newspaper, $240. 23 Paid Rusin Company on account, $2,400. 30 Received cash repair revenue for the last half of the month, $3,268. 30 Recorded a withdrawal by owner, $1,200. 8. Prepare and post journal entries to record the July transactions. 9. Using the following information, record adjusting entries in the general journal and post to the ledger accounts. d. One month's insurance has expired. e. The inventory of unused repair supplies is $1,652. f. The estimated depreciation on repair equipment is $280. 10. From the accounts in the ledger, prepare an adjusted trial balance. 11. From the adjusted trial balance, prepare the July income statement, statement of owner's equity, and balance sheet. 12. Prepare and post closing entries. 13. Prepare a post-closing trial balance. What is the Total Asset for the Month June 30, 2004 in the Balance Sheet? What is the Total Liability for the Month June 30, 2004 in the Balance Sheet? What is the B. Lutz Capital for the Month June 30, 2004, in the Balance Sheet? What is the Post-Closing Trial Balance on the debit or credit side for the Month of June 30, 2004?What is the Net Income for the month ended July 30, 2004? What is the Revenue for the Month ended July 31, 2004? What is the Total Expense for the Month ended July 31, 2004? What is the Adjusted Trial Balance on the debit or credit side for the Month of July 31, 2004
The adjusted trial balance on the credit side is equal to $6,076 for the month ending July 31, 2004.
The solution to the given problem is as follows
1. Journal Entries:
2. Ledger accounts:
3. Adjusting entries:
4. Adjusted Trial Balance:
5. Income statement:
6. Statement of owner's equity:
Balance Sheet: The total assets are equal to $19,524 for the month ended June 30, 2004.
The total liability is equal to $1,572 for the month ended June 30, 2004.
The B. Lutz capital is equal to $17,952 for the month ending June 30, 2004.
The post-closing trial balance on the debit side is equal to $10,172 for the month ending June 30, 2004.
The net income for the month ended July 30, 2004, is $1,008.
The revenue for the month ended July 31, 2004, is $7,924. The total expense for the month ended July 31, 2004, is $6,916.
The adjusted trial balance on the credit side is equal to $6,076 for the month ended July 31, 2004.
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