The correct answer is a. Examine open vouchers, receiving reports, and vendor invoices shortly after the year-end.
This is because examining open vouchers, receiving reports, and vendor invoices shortly after the year-end allows the auditor to verify the completeness and accuracy of accounts payable as of the year-end, ensuring that all liabilities are properly recorded.
b. Trace a sample of vouchers to the purchase journal is a test that verifies the occurrence and completeness assertions by ensuring that vouchers recorded in the purchase journal actually correspond to vouchers issued for legitimate purchases.
c. Send out accounts payable confirmations is a test that verifies the accuracy and completeness assertions by obtaining confirmations from vendors to confirm the amounts owed and the terms of the accounts payable balances.
d. Select cash disbursements made shortly after year-end and examine supporting documentation such as receiving reports and vendor invoices is a test that verifies the cutoff assertion by ensuring that cash disbursements are properly recorded in the correct accounting period.
The correct answer is d. Cutoff assertion. The audit procedure of comparing the dates on vouchers to the dates on which the corresponding transactions were recorded in the purchase journal is designed to test the cutoff assertion. The cutoff assertion ensures that transactions are recorded in the correct accounting period, and this test helps the auditor determine if transactions were recorded in the appropriate period to ensure accurate financial reporting. The occurrence, completeness, and accuracy assertions are not directly related to this specific audit procedure.
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consider a company that uses market-based forecasting to estimate future exchange rates. the forward rate is a good predictor of the future spot rate. true false
The answer is true. Empirical evidence suggests that the forward rate is a reliable predictor of future spot rates.
The forward rate reflects the expectations of the market participants regarding future exchange rates. It incorporates all available information about the market conditions and reflects the market's consensus about the future exchange rate.
There are times when the market conditions change suddenly, and the forward rate fails to predict the future spot rate accurately. Therefore, it's essential to understand the limitations of market-based forecasting and use other methods to complement the predictions made using the forward rate.
In conclusion, market-based forecasting is a useful technique for predicting future exchange rates. The forward rate is a good predictor of the future spot rate, although it's not a perfect one. Market participants should use other methods in conjunction with the forward rate to get a better understanding of the expected future exchange rates.
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Taxable income Tax Rate 10% TABLE 2.3 Personal tax rates for 2018 (unmarried Individuals) $ 0- 9,525 9,525- 38,700 38,700- 82,500 82,500- 157,500 157,500- 200,000 200,000- 500,000 500,000+ 22 24 32 35 37Duela Dent is single and had $186,400 in taxable income. Use the rates from Table 2.3. (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Calculate her income taxes.
Duela Dent falls into the tax bracket of "82,500-157,500" and "157,500-200,000" based on her taxable income of $186,400.
Her income tax would be calculated as follows:
- The first $9,525 of her income is taxed at a rate of 10%, which equals $952.50.
- The next $29,175 of her income (the amount between $9,525 and $38,700) is taxed at a rate of 12%, which equals $3,501.
- The next $47,800 of her income (the amount between $38,700 and $82,500) is taxed at a rate of 22%, which equals $10,516.
- The next $28,900 of her income (the amount between $82,500 and $157,500) is taxed at a rate of 24%, which equals $6,936.
- The remaining $8,400 of her income (the amount between $157,500 and $186,400) is taxed at a rate of 32%, which equals $2,688.
Adding up all of these amounts, Duela Dent's income tax would be $24,594.50.
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What kind of warehouse is created to serve customers whether they order in bulk quantities, like full-pallet quantities, or individual items for household delivery? a. All-purpose warehouse b. Omnipotent warehouse c. Omni-shore warehouse d. Omni-channel warehouse e. Versatile warehouse
The type of warehouse that is created to serve customers whether they order in bulk quantities or individual items for household delivery is called an Omni-channel warehouse. Option d is answer.
The Omni-channel warehouse is designed to handle both bulk orders and individual orders, as well as different delivery options such as in-store pickup, home delivery, or shipping directly to the customer. The goal of an Omni-channel warehouse is to provide a seamless and efficient experience for the customer regardless of how they choose to order or receive their products.
Option d is answer.
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the internet, extranets (private electronic networks), and wireless setups are enabling buyers to quickly and easily compare products and prices, putting them in a better bargaining position. true or false?
The given statement "internet, extranets (private electronic networks), and wireless setups are enabling buyers to quickly and easily compare products and prices, putting them in a better bargaining position." is True.
The advent of the internet, extranets, and wireless setups have revolutionized the way buyers shop and compare products and prices. With the internet, buyers can access an almost infinite number of products and services from around the world, without the need to leave their homes or offices.
This has created a level of competition among sellers that has never been seen before. With just a few clicks of a button, buyers can compare prices and features of products across different websites, which gives them the advantage of knowing what the market has to offer.
Extranets, on the other hand, allow buyers to access private electronic networks that are set up between businesses and their suppliers or customers. This enables them to get real-time updates on prices, inventory, and delivery schedules, which puts them in a better bargaining position.
Finally, wireless setups have made it even easier for buyers to access information about products and prices on the go. With mobile devices and wireless internet connections, buyers can shop from anywhere and at any time. All these factors have combined to give buyers more power and influence in the market, which has made it easier for them to negotiate better prices and deals with sellers.
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If you put up $21,000 today in exchange for a 7.50 percent, 16-year annuity, what will the annual cash flow be? Multiple Choice odas a. $2,297.21 b. $2,448.88 c. $1,312.50 d. $5,003.89
The correct answer is b. $2,448.88.
To calculate the annual cash flow, you can use the formula:
Annual cash flow = Principal x (interest rate / (1 - (1 + interest rate)^-number of payments))
In this case, the principal is $21,000, the interest rate is 7.50%, and the number of payments is 16 (since it's a 16-year annuity).
Plugging in these values, we get:
Annual cash flow = $21,000 x (0.075 / (1 - (1 + 0.075)^-16))
Annual cash flow = $2,448.88
Therefore, the answer is b. $2,448.88.
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Sure feet Corporation changed its inventory valuation method. Which characteristic is jeopardized by this change? a) Feedback value. b) Representational faithfulness. c) Comparability. d) Consistency.
When Sure Feet Corporation changed its inventory valuation method, the characteristic that is jeopardized by this change is (d) Consistency. Option (d) is correct.
The characteristic that is jeopardized by changing the inventory valuation method is consistency. Consistency is the principle that requires a company to use the same accounting methods and procedures for similar transactions over time. Changing the inventory valuation method would result in a change in the company's financial statements, making it difficult to compare the current year's financial statements to previous years. This could lead to a lack of consistency in the financial reporting of the company.
This is because consistency refers to using the same accounting methods and policies across different reporting periods, which allows for meaningful comparisons between financial statements. By changing the inventory valuation method, Sure Feet Corporation has impacted the consistency of its financial reporting. Option (d) is correct.
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Consider the following data from two divisions of a company, P and Q Divisional Sales Operating Income Investment P Q $ 1,100,000 $1,900,000 $ 440,000 $ 760,000 $ 1,540,000 $ 2,850,000 If the minimum rate of return is 12%, what is Division Q's residual income (RI)?
Residual income (RI) is a measure used to evaluate the performance of a division within a company by comparing its operating income to the minimum rate of return required by the company's management or investors.
It is calculated as the division's operating income minus the product of its investment and the minimum rate of return.
In this case, Division Q's operating income is $760,000 and its investment is $2,850,000. The minimum rate of return is given as 12%.
To calculate Division Q's residual income (RI), we can use the formula:
RI = Operating Income - (Investment x Minimum Rate of Return)
RI = $760,000 - ($2,850,000 x 0.12)
RI = $760,000 - $342,000
RI = $418,000
So, Division Q's residual income (RI) is $418,000.
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which of the following most accurately defines the term china price? group of answer choices the industry name given chinese exports because of their quality and price. the unnaturally low price wal-mart is able to offer because of heavy reliance on inexpensive imported goods. the stringent regulations the chinese government puts on importing foreign goods into china. the cost-benefit ratio juggled by investors looking at pursuing foreign direct investment in china.
The unnaturally low price Wal-Mart is able to offer because of heavy reliance on inexpensive imported goods most accurately defines the term china price.
The term "China price" typically refers to the low prices of products manufactured in China due to the country's low labor costs and currency valuation. It is often used to describe the competitive pricing strategy of Chinese exporters, who are able to offer goods at prices lower than their competitors in other countries.
The term "China price" refers to the unnaturally low price at which Chinese goods are offered due to the country's low labor costs and production expenses. Therefore, the most accurate definition of the term is: the unnaturally low price Wal-Mart is able to offer because of heavy reliance on inexpensive imported goods.
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interest earned from treasury bonds is: group of answer choices exempt from federal income tax. exempt from all income tax. subject to all income taxes. exempt from state and local taxes.
The interest earned from Treasury bonds is exempt from state and local income taxes, but it is subject to federal income tax. Option d is answer.
The interest earned from Treasury bonds is subject to federal income tax, but it is exempt from state and local income taxes. This means that if an investor earns interest income from Treasury bonds, they will not have to pay state or local income taxes on that income, but they will still have to pay federal income tax on it.
This tax exemption is intended to make Treasury bonds more attractive to investors and to encourage investment in them. It is important to note, however, that the tax treatment of Treasury bonds can vary depending on the specific type of bond and the state in which the investor resides, so investors should consult with a tax professional to understand their specific tax situation.
Option d is answer.
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if the economy starts off at its full-employment level and the government permanently cuts tax rates, what would be the long-run effect on the level of output and the real exchange rate when nominal exchange rates are fixed?
When nominal exchange rates are fixed, rising demand will squeeze input prices, including salaries, as an economy approaches full production capacity. This will have a long-term impact on both the level of output and the real exchange rate.
If the government permanently lowers tax rates and the economy first experiences full employment. Restoring the economy to full employment or containing inflation would be its specific objectives. They can attain their objectives with the aid of fiscal policy.
Government expenditure and taxes (or transfers, which are comparable to "negative taxes") are the tools of fiscal policy. A fixed exchange rate is a system used by a government or central bank that links the value of one country's currency to that of another.
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n one hour, sue can produce 40 caps or 4 jackets and tessa can produce 80 caps or 4 jackets. sue and tessa are _______ to trade 1 jacket for 15 caps because _______.
In one hour, sue can produce 40 caps or 4 jackets and tessa can produce 80 caps or 4 jackets. sue and tessa are agreed to trade 1 jacket for 15 caps because this exchange benefits both of them..
Sue and Tessa are complementary producers. They are able to produce different items, but both are needed to create a complete outfit. Sue can produce 40 caps or 4 jackets in one hour, while Tessa can produce 80 caps or 4 jackets in the same amount of time. This means that Sue is twice as efficient at producing caps as Tessa, while Tessa is twice as efficient at producing caps as Sue.
Given their different levels of efficiency, Sue and Tessa are able to trade items and both benefit. They have agreed to trade 1 jacket for 15 caps because this exchange benefits both of them. Sue is able to produce caps more efficiently than Tessa, so she can produce more caps in the same amount of time.
By trading 1 jacket for 15 caps, Tessa is able to acquire more caps than she could produce in the same amount of time, which benefits her. Sue benefits by acquiring a jacket, which she could not produce as efficiently as Tessa.
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Shane, a sales manager, remarked that typically her employees are resentful when the CEO announces bonuses because the employees know that the bonuses will not be given out based on
A) an employee's punctuality.
B) an appreciation for one's work.
C) fairness.
D) defined criteria.
E) respect for longevity.
Shane, a sales manager, noted that her employees often feel resentful when the CEO announces bonuses. This is because the bonuses are not given out based on defined criteria. The correct option is
Employees want to know that bonuses are awarded fairly and not just based on someone's seniority or perceived favoritism. Employees also want to be recognized for their hard work and dedication to their jobs.
When bonuses are awarded based on criteria that are not transparent, it can create tension and resentment among employees. This can ultimately harm productivity and morale in the workplace. To avoid this, it is important for organizations to establish clear and defined criteria for awarding bonuses.
Criteria can include factors such as meeting or exceeding sales targets, providing excellent customer service, demonstrating exceptional teamwork skills, or consistently producing high-quality work. By establishing clear criteria, employees know what is expected of them and have a fair chance of earning a bonus.
In conclusion, it is important for companies to establish transparent and defined criteria for awarding bonuses. This helps to ensure that employees are recognized for their hard work and dedication, and can help to prevent resentment and tension in the workplace.
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________ to a plant asset that increase its operating efficiency, productive capacity, or expected useful life are generally debited to the asset affected.A. Ordinary repairs B. Indirect expenses C. Regular maintenance D. Additions and improvements
Additions and improvements, when applied to a plant asset, increase its operating efficiency, productive capacity, or expected useful life and are generally debited to the asset affected. The correct answer is D.
Plant assets may include Land, building, fixed equipment, software and other assets. These can also be termed as fixed assets as an alternative term. Additions and improvements to a plant asset increase its operating efficiency, productive capacity, or expected useful life and are generally debited to the asset affected. Ordinary repairs, indirect expenses, and regular maintenance do not provide the same lasting benefits and are usually expensed.
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Lourdes Corporation's 12% coupon rate, semiannual payment, $1,000 par value bonds, which mature in 10 years, are callable 6 years from today at $1,050. They sell at a price of $1,306.57, and the yield curve is flat. Assume that interest rates are expected to remain at their current level.
What is the best estimate of these bonds' remaining life? Round your answer to two decimal places.
If Lourdes plans to raise additional capital and wants to use debt financing, what coupon rate would it have to set in order to issue new bonds at par?
Since interest rates have risen since the bond was first issued, the coupon rate should be set at a rate above the current coupon rate.
Since the bonds are selling at a premium, the coupon rate should be set at the going rate, which is the YTC.
Since the bonds are selling at a premium, the coupon rate should be set at the going rate, which is the YTM.
Since Lourdes wishes to issue new bonds at par value, the coupon rate set should be the same as that on the existing bonds. Since Lourdes wishes to issue new bonds at par value, the coupon rate set should be the same as the current yield on the existing bonds.
To determine the best estimate of these bonds' remaining life, we need to consider that the bonds are callable in 6 years at $1,050.
Since the bonds are currently selling at a premium ($1,306.57), it is more likely that Lourdes Corporation will call the bonds at 6 years, rather than letting them mature in 10 years. Therefore, the best estimate of the bonds' remaining life is 6 years.
If Lourdes plans to raise additional capital and wants to use debt financing, they would need to set the coupon rate at the going rate, which is the Yield to Call (YTC), in order to issue new bonds at par. This is because the existing bonds are selling at a premium, and Lourdes wants to issue new bonds at par value.
To summarize:
1. The best estimate of the bonds' remaining life is 6 years.
2. To issue new bonds at par, Lourdes should set the coupon rate at the going rate, which is the YTC.
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If you don't have a traditional bank account and you need money from a check, you may visit this financial institution, where they will happily help you, for a fee.a. Trueb. False
The above statement is true that you would have to visit this financial institution to crack a cheque without a bank account.
Cashing a check without a bank account is usually possible, however it can occasionally be time-consuming and expensive. Some people may find that cashing a check only requires them to visit the bank where they have an account or to use the mobile deposit function of their bank's mobile app.
Even if you have a bank account, you might need to cash a check while traveling if your bank is not close by. The good news is that cashing a check without a bank account is frequently possible. Just a little bit of labor or costs could be involved.
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tom is an arizona homeowner who had a judgment lien levied against him, but the arizona homestead exemption will allow him to exempt part of his primary residence from seizure for payment of debts. what is the maximum amount arizona homeowners can exempt?
Arizona's Homestead Exemption will let Tom, an Arizona homeowner with a judgement lien against him, shield a portion of his principal dwelling from being seized to satisfy debts. Arizona homeowners may only exclude up to $150,000 for a single person or married couple.
Under Arizona's homestead exemption, a person's equity in their house is shielded up to $150,000 against attachment, execution, or forced sale. The exemption covers a person's house, land, mobile home, mobile home plus land, condominium, or cooperative.
A homestead exemption shields a person's dwelling's equity of $150,000 against execution, attachment, and compulsory sale. A homestead is a place where a person makes their home. The place to live might be a house, flat or mobile home.
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a company has net sales of $1,200,000 and average accounts receivable, net of $400,000. what is its accounts receivable turnover for the period? multiple choice 3.00 73.00 20.00 5.00 0.33
The accounts receivable turnover for the period is 3.00.
The accounts receivable turnover ratio is used to measure a company's effectiveness in collecting its accounts receivable during a specific period. It is calculated by dividing the net credit sales by the average accounts receivable.
In this case, the net credit sales are $1,200,000, and the average accounts receivable, net of $400,000. Thus, the accounts receivable turnover is calculated as $1,200,000 / $400,000 = 3.00.
This means that the company collected its average accounts receivable 3 times during the period. A higher accounts receivable turnover ratio is generally better as it indicates that the company is able to collect its accounts receivable more quickly, which can improve its cash flow and financial performance.
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Principals may be held liable for the torts of independent contractors involving highly dangerous acts. True or false
The given statement "Principals may be held liable for the torts of independent contractors involving highly dangerous acts" is true as unless he is directly at fault by carelessly supervising a junior or by giving poor instructions—the agent is not accountable for the torts of other agents.
The fact that a principal is deemed vicariously responsible and must compensate an injured third party does not absolve the agent who was the real perpetrator of the torts. Unless they are cr-azy, involuntarily dr-unk, or acting under severe pressure, people are always responsible for their own torts.
If the principle did not allow the agent's wrongdoing, the principal is personally accountable for the agent's wrongdoing and is required to pay back any damages the principal was obliged to pay. The directed agent is still responsible for his own actions but is not required to pay back the principle. Liability as an agent may be taxing, often even more so than liability as a principal.
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Mr. Drucker uses a periodic review system to manage the inventory in his dry goods store. He likes to maintain 15 sacks of sugar on his shelves based on the annual demand figure of 225 sacks. It costs $2 to place an order for sugar and costs $1 to hold a sack in inventory for a year. Mr that he is down to 9 sacks; how much should he order?
Mr. Drucker uses periodic review system to manage inventory, maintaining 30 sacks of sugar based on 225 annual demand . option (b)
Mr. Drucker should order 12 sacks of sugar to reach his desired inventory level of 15. To determine the order quantity, he can use the periodic review system formula:
Order Quantity = Demand during lead time + Safety Stock - Inventory on Hand
In this case, the lead time is the time it takes to receive a new order of sugar, the safety stock is the buffer quantity Mr. Drucker wants to keep to avoid stockouts, and the inventory on hand is the current quantity of sugar he has in stock.
Assuming the lead time is one week and the desired safety stock is 3 sacks, Mr. Drucker can calculate the order quantity as follows:
Order Quantity = (225 sacks / 52 weeks) * 1 week + 3 sacks - 9 sacks
Order Quantity = 4 sacks + 3 sacks
Order Quantity = 7 sacks
However, since there is a fixed cost of $2 per order, Mr. Drucker may want to order a higher quantity to minimize ordering costs. He can calculate the economic order quantity (EOQ) using the following formula:
EOQ = √(2SD / H)
Where S is the annual demand, D is the ordering cost, and H is the holding cost per unit.
Assuming an ordering cost of $2 and a holding cost of $1 per sack per year, the EOQ is:
EOQ = √(2 * 225 * 2 / 1)
EOQ = √900
EOQ = 30 sacks
Therefore, Mr. Drucker can order up to 30 sacks of sugar without incurring additional holding costs or stockouts. However, he should also consider storage constraints and demand variability when determining the optimal order quantity.
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Full Question: Mr. Drucker uses a periodic review system to manage the inventory in his dry goods store. He likes to maintain 15 sacks of sugar on his shelves based on the annual demand figure of 225 sacks. It costs $2 to place an order for sugar and costs $1 to hold a sack in inventory for a year. Mr. Drucker checks inventory one day and notes that he is down to 9 sacks; how much should he order?
A. 6 sacks
B. 30 sacks
C. 9 sacks
D. 15 sacks
an association of producers that fixes common prices and output quotas is known as a group of answer choices trade association. common selling organization. cartel. joint-marketing arrangement.
A cartel is an association of producers that fixes common prices and output quotas in order to increase the profits of its members.
Cartels are formed to reduce competition in an industry, and the members of the cartel agree to limit production, fix prices, and share the profits among themselves.
Cartels are illegal in many countries because they reduce competition and hurt consumers by raising prices. They are also seen as a form of collusion, which is a form of market manipulation. Cartels can be very profitable for the members, but they can be very harmful to the overall economy.
As a result, governments have taken steps to regulate cartels, making them illegal and subject to fines and other penalties. Cartels are an example of a form of market collusion that can reduce competition and hurt consumers, which is why it is important for governments to regulate them.
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Suppose product price is fixed at $24, MR = MC at Q = 200, AFC = $6, AVC = $25. What do you advise this firm to do?
a. Increase output.
b. Decrease output.
c. Shut down operations.
d. Stay at the current output; the firm is earning a profit of $1,400.
e. Stay at the current output; the firm is losing $1,400.
Assume that the cost of the product is set at $24, that MR = MC Q = 200, that AFC = $6, and that AVC = $25. You suggest that this company shut down operations. Here option C is the correct answer.
Based on the information provided, we can determine the following:
The market price of the product is fixed at $24.
The marginal revenue (MR) of the product is equal to the marginal cost (MC) at a quantity of 200 units.
The average fixed cost (AFC) of producing each unit of the product is $6.
The average variable cost (AVC) of producing each unit of the product is $25.
To determine the optimal course of action for the firm, we need to consider its profit or loss at the current level of output.
Total revenue (TR) at a quantity of 200 units is:
TR = Price × Quantity
= $24 × 200
= $4,800
Total cost (TC) at a quantity of 200 units is:
TC = AFC + AVC × Quantity
= $6 + $25 × 200
= $5,006
Profit (π) at a quantity of 200 units is:
π = TR - TC
= $4,800 - $5,006
= -$206
Based on these calculations, we can see that the firm is currently experiencing a loss of $206 at the current level of output. Therefore, we can eliminate options d and e as they both suggest that the firm is earning a profit at the current level of output.
To determine whether the firm should increase output, decrease output, or shut down operations, we need to consider the relationship between marginal revenue (MR) and marginal cost (MC) at the current level of output.
Since MR = MC at a quantity of 200 units, the firm is currently producing at the profit-maximizing level of output. Therefore, the firm should not increase or decrease output.
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by how much would audience contact increase if an extra $100 were allocated to the promotional budget? round your answer to the nearest whole number. increase in audience coverage of approximately 10
By allocating an extra $100 to the promotional budget, the audience contact would increase by approximately 10%. Rounded to the nearest whole number, the answer would be a 10% increase.
To calculate the increase in audience contact with an extra $100 allocated to the promotional budget, you can follow these steps:
1. Identify the current increase in audience coverage per dollar spent: In this case, it is mentioned that the increase in audience coverage is approximately 10.
2. Determine the extra budget allocation: The extra budget allocated is $100.
3. Calculate the increase in audience contact: Multiply the increase in audience coverage per dollar spent (10) by the extra budget allocation ($100).
Increase in audience contact = 10 * $100 = 1000
So, by allocating an extra $100 to the promotional budget, the audience contact would increase by approximately 10%. Rounded to the nearest whole number, the answer would be a 10% increase.
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Advantages that arise from using resource endowments or assets that are tied to a particular location and that a firm finds valuable to combine with its own unique assets are known as:Choose matching definition
eclectic paradigm
absolute advantages.
majority acquisition.
location-specific advantages.
Advantages that arise from using resource endowments or assets that are tied to a particular location and that a firm finds valuable to combine with its own unique assets are known as location-specific advantages.
Advantages that arise from using resource endowments or assets that are tied to a particular location and that a firm finds valuable to combine with its own unique assets are referred to as location-specific advantages.
These advantages can include access to specific natural resources, favorable geographic location, unique labor markets, specialized infrastructure, or other location-specific factors that give a firm a competitive edge in a particular location or market.
Location-specific advantages are a key concept in international business and economics, as firms seek to leverage unique resources or assets available in specific locations to gain a competitive advantage over their competitors.
By combining their own firm-specific assets with location-specific advantages, firms can create synergies and achieve superior performance in the market.
The other options provided in the question, such as eclectic paradigm, absolute advantages, and majority acquisition, are not directly related to the concept of advantages arising from using location-specific resources, but rather represent different concepts or strategies in the field of business and economics.
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Estimating uncollectible accounts by analyzing receivables from specific customers according to how long each has been outstanding is known as the OA allowance method OB percent-of-sales method Ocaging-of-receivables method OD direct write-off method An internal control system can be circumvented by: O A nothing, if it is a good internal control system, OB. collusion, management override and human limitations OC. collusion, encryption and management override OD. collusion, management override and segregation of duties
Estimating uncollectible accounts by analyzing receivables from specific customers according to how long each has been outstanding is known as the Ocaging-of-receivables method.
An internal control system can be circumvented by collusion, management override and human limitations. Encryption and segregation of duties can actually enhance the effectiveness of an internal control system.
However, there are steps that can be taken to enhance the effectiveness of an internal control system. One such step is encryption, which involves converting sensitive data into a coded language that can only be deciphered with a specific key or password.
This helps to prevent unauthorized access to sensitive financial information.
Another step is segregation of duties, which involves assigning different responsibilities to different employees. For example, one employee may be responsible for recording financial transactions, while another employee may be responsible for authorizing payments.
This helps to prevent any one person from having too much control over the entire financial process, and reduces the risk of fraud or errors.
Overall, while an internal control system cannot completely eliminate the risk of financial fraud or errors, it can greatly reduce the risk and enhance the accuracy and reliability of financial reporting.
It is important for companies to regularly evaluate and update their internal control systems to ensure that they are effective and efficient.
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jessica is an agent for lmn life insurance company. she met with brad, who was interested in purchasing life insurance. jessica explained the various uses of life insurance, including income for brad's wife during the 1- or 2-year period following brad's death. this period is known as the:
The period in which Brad's wife would receive income following Brad's death is known as the "benefit period". However, if it is specifically for 1-2 years, it can be referred to as the "term period" or "term certain".
Life insurance provides a lump sum payment to the beneficiary upon the death of the insured person. The beneficiary can use this payment in various ways, including to replace the income of the insured person, pay off debts, or cover final expenses.
In Brad's case, Jessica explained that one of the uses of life insurance is to provide income for his wife for a specific period of time following his death. This period is known as the "benefit period," which can be any length of time specified in the life insurance policy.
However, if Jessica specifically mentioned that the income would be provided for a 1- or 2-year period following Brad's death, then this would be referred to as the "term period" or "term certain." This means that Brad's wife would receive a guaranteed income for the specified term, regardless of when Brad passes away within that period. After the term period ends, the payments would stop.
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if the supply curve for aspirin is perfectly elastic, then a reduction in demand will cause the equilibrium price to: group of answer choices stay the same and the equilibrium qua
If the supply curve for aspirin is perfectly elastic, then a reduction in demand will cause the equilibrium price to: stay the same and the equilibrium quantity to fall. The correct option is A.
Here's a step-by-step explanation:1. A perfectly elastic supply curve is a horizontal line, meaning that the suppliers are willing to supply any quantity of the product at the same price.
2. When there's a reduction in demand, the demand curve shifts to the left, which means that people are willing to buy a smaller quantity of aspirin at each possible price.
3. As the demand curve shifts leftward, the perfectly elastic supply curve at a lower quantity level.
4. Since the supply curve is horizontal, the intersection of the demand and supply curves occurs at the same price level as before.
5. Thus, the equilibrium price stays the same (as in option A), but the equilibrium quantity falls due to the decrease in demand.
In this scenario, the reduction in demand doesn't affect the price, as suppliers are willing to supply any quantity at the given price. However, the equilibrium quantity decreases because consumers are less interested in purchasing aspirin.
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Complete question:
If the supply curve for aspirin is perfectly elastic, then a reduction in demand will cause the equilibrium price to:
A. stay the same and the equilibrium quantity to fall.
B. fall and the equilibrium quantity to fall.
C. rise and the equilibrium quantity to stay the same.
D. rise and the equilibrium quantity to fall.
Blending problems arise whenever a manager must decide how to Oa. mix several different asset types in one investment strategy. b. combine the results of two or more research studies into one. Oc. allocate workers with different skill levels to various work shifts. Od. mix two or more resources to produce one or more products.
The answer is A, blending problems arise whenever a manager must decide how to mix several different asset types in one investment strategy.
This is because different assets have different levels of risk, return, and liquidity, and combining them in a way that maximizes returns while minimizing risk is a complex task.
Managers must carefully consider each asset's characteristics and how they will complement or detract from each other before blending them into a single investment strategy.
Failure to do so can result in poor performance and significant losses. Option A is the right one.
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glaston company manufactures a single product using a jit inventory system. the production budget indicates that the number of units expected to be produced are 193,000 in october, 201,500 in november, and 198,000 in december. glaston assigns variable overhead at a rate of $0.75 per unit of production. fixed overhead equals $150,000 per month. compute the budgeted total factory overhead for october.
The budgeted total factory overhead for October is $294,750.
To compute the budgeted total factory overhead for October, we need to calculate the variable overhead and fixed overhead separately and then add them up.
Variable overhead cost for October:
= Number of units expected to be produced in October x Variable overhead rate per unit
= 193,000 x $0.75
= $144,750
Fixed overhead cost for October:
= Fixed overhead for the month
= $150,000
Therefore, the budgeted total factory overhead for October is:
= Variable overhead cost + Fixed overhead cost
= $144,750 + $150,000
= $294,750
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Marian Plunket owns her own business and is considering an investment. If she undertakes the investment, it will pay $5,040 at the end of each of the next 3 years. The opportunity requires an initial investment of $1,260 plus an additional investment at the end of the second year of $6,300. What is the NPV of this opportunity if the interest rate is 1.7% per year? Should Marian take it?
What is the NPV of this opportunity if the interest rate is 1.7% per year?
The Net Present Value (NPV) of an investment opportunity is a financial metric used to evaluate the profitability of an investment by comparing the present value of expected cash flows with the initial cost of the investment.
To calculate the Net Present Value of the given opportunity, we can follow these steps:
Step 1: Calculate the present value of each expected cash flow.
[tex]PV = CF / (1 + r)^n[/tex]
Where:
PV = Present Value
CF = Cash Flow
r = Interest Rate
n = Number of periods
Given the cash flow of [tex]$5,040[/tex] at the end of each of the next 3 years, and an interest rate of [tex]1.7%[/tex] percent per year, we can calculate the present value of each cash flow as follows:
Year 1:
[tex]PV1 = $5,040 / (1 + 0.017)^1[/tex]
Year 2:
[tex]PV2 = $5,040 / (1 + 0.017)^2[/tex]
Year 3:
[tex]PV3 = $5,040 / (1 + 0.017)^3[/tex]
Step 2: Calculate the present value of the additional investment at the end of the second year.
[tex]PV2= $6,300 / (1 + 0.017)^2[/tex]
Step 3: Calculate the total present value of all cash flows and investments.
Total PV = PV1 + PV2 + PV3 + PV2_Additional
Step 4: Calculate the initial investment.
Initial Investment = [tex]$1,260[/tex]
Step 5: Calculate the Net Present Value (NPV).
NPV = Total PV - Initial Investment
Once all the calculations are done, we can determine whether the NPV is positive or negative. If the NPV is positive, it indicates that the investment is expected to generate a positive return and may be considered favorable. If the NPV is negative, it indicates that the investment is not expected to generate a positive return and may not be considered favorable.
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In the context of recruiting, which of the following kinds of information can be gathered by job analysis? a. The knowledge, skills, and abilities needed to perform work b. Confidential data of a client c. The list of shareholders involved in a particular project d. Personal characteristics of the existing employeesd.
In the context of recruiting, the knowledge, skills, and abilities needed to perform work kinds of information can be gathered by job analysis.
Option A is correct.
What does it mean to recruit?Recruiting is the process of actively looking for, locating, and hiring candidates for a particular position or career. The definition of recruitment encompasses the entire hiring process, from the initial stages to the hire's integration into the business.
What is the job of an HR recruiter?The obligations of a HR enrollment specialist incorporate finding individuals internet, refreshing postings for occupations, and running minds records. If you are familiar with a variety of interview formats, such as team interviews and phone screenings, and can help us fill positions more quickly and effectively, we would like to meet you.
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