In quality planning process for a road construction project, project managers need to prioritize the following key ingredients: Quality objectives: This is the most important aspect of the quality planning process.
The project manager must determine the project's quality objectives to ensure the project is successful and meets the desired quality standard. A quality objective is a statement that defines what quality will look like for the project, and it should be specific, measurable, achievable, relevant, and time-bound. For example, the quality objective for a road construction project could be to complete the project within budget and on schedule while meeting all safety and quality standards.
Quality standards: Quality standards specify the acceptable level of quality for the project. The project manager should ensure that all the stakeholders involved in the project understand the quality standards and how they will be achieved. For example, in a road construction project, the quality standard could be to use high-quality materials to ensure that the road is durable and long-lasting.
Quality metrics: Quality metrics are used to measure the quality of the project. The project manager should identify the quality metrics that will be used to measure the project's quality. For example, in a road construction project, the quality metrics could include the number of defects, accidents, or injuries that occur during the project.
Quality assurance: Quality assurance is the process of ensuring that the project meets the required quality standards. The project manager should develop a quality assurance plan to ensure that the project meets the quality objectives and standards. For example, in a road construction project, the quality assurance plan could include regular inspections and testing to ensure that the road meets the required quality standards.
Quality control: Quality control is the process of ensuring that the project meets the quality standards during the project's execution. The project manager should develop a quality control plan to ensure that the project meets the quality objectives and standards.
For example, in a road construction project, the quality control plan could include regular inspections and testing to ensure that the road meets the required quality standards.
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The Cohan rule has to do with: OO 1) Tax accounting methods 2) Debts of another taxpayer 3) Substantiation of deductions 4) Cash method of accounting Nonbusiness bad debts are deductible: 1) as short-term capital losses. O2) in full against business gross income. 3) only when they become wholly or partially worthless. 4) a and c are both correct.
The Cohan rule relates to the substantiation of deductions in tax accounting methods, allowing taxpayers to estimate reasonable expenses when unable to provide complete records. Option 3.
The Cohan rule, named after the American vaudeville entertainer George M. Cohan, is related to the substantiation of deductions in tax accounting methods. It refers to a judicial doctrine that allows taxpayers to estimate or approximate deductible expenses when they are unable to provide complete records or evidence to support their claims.
The Cohan rule originated from a legal case involving George M. Cohan, who was unable to substantiate certain business expenses during an audit. The court, recognizing the practical difficulties faced by taxpayers in maintaining precise records, established the rule that taxpayers could make reasonable estimates based on the available evidence.
Under the Cohan rule, taxpayers may be allowed to deduct expenses that are reasonable and have a direct connection to their business or income-producing activities, even if they cannot provide exact documentation.
However, the estimated amounts must still be based on a reasonable approximation of the actual expenses, and taxpayers must provide some credible evidence to support their claims.
It's important to note that the Cohan rule is not a blanket allowance to estimate or approximate all deductions. The rule applies on a case-by-case basis, and the taxpayer must demonstrate that they made a good-faith effort to substantiate the expenses and that the estimates are reasonable under the circumstances.
In summary, the Cohan rule is a judicial doctrine that allows taxpayers to estimate or approximate deductible expenses when they cannot provide complete records, provided they can offer credible evidence and demonstrate reasonableness. So Option 3 is correct.
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A C corporation is generally required to file an annual tax return. However, an exception applies if the corporation:
A)Was dissolved in the current year.
B)Was dissolved in the prior year.
C)No longer carries on substantial activities.
D)Retains no assets.
The correct answer is B) Was dissolved in the prior year. If a C corporation was dissolved in the prior year, it is generally not required to file an annual tax return.
Once a corporation is dissolved, it ceases to exist as a separate legal entity, and therefore, it is not required to file tax returns for subsequent years. However, it may still be required to file a final tax return for the year in which it was dissolved to report its final financial activities and settle any remaining tax obligations.A corporation is a legal entity that is separate from its owners (shareholders) and has its own rights and obligations. It is one of the most common forms of business organization and is recognized as a legal entity with the ability to conduct business, enter into contracts, own assets, and incur liabilities.
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Match each award to its definition.
Bonus
Discretionary bonus
Nondiscretionary bonus
Planned bonus paid as a result of metric being met; considered part of regular pay
Unplanned, surprise bonus; NOT considered part of regular pay
Amount awarded outside of regular and overtime pay
Match each award to its definition.
- Planned bonus paid as a result of metric being met; considered part of regular pay: Nondiscretionary bonus
- Unplanned, surprise bonus; NOT considered part of regular pay: Discretionary bonus
- Amount awarded outside of regular and overtime pay: Bonus
A discretionary bonus is an amount of money that an employer pays to an employee that is not part of their regular salary or wages. This type of bonus is usually awarded as a surprise to employees who have performed exceptionally well or exceeded expectations.
Discretionary Bonus: This is a bonus paid at the discretion of the employer, and it's typically not included in an employee's regular wages. This type of bonus is generally awarded as a surprise to employees who have gone above and beyond expectations and performed exceptionally well.
Nondiscretionary Bonus: This type of bonus is planned and paid as a result of the metric being met, and it is often included as part of the employee's regular pay.
Bonus: A bonus is an amount of money that an employer pays to an employee in addition to their regular wages or salary. It can be paid for a variety of reasons, including exceptional performance, meeting goals or targets, or reaching certain milestones.
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In an ethnocentric framework O Local managers are stronger performers given their better understanding of local customers, markets, and institutions. Firms posts the most qualified executives, regardless of nationality, to expatriate slots. Signifies the belief that the management principles and business practices used by headquarters are superior to those used in other countries Firms develops executives whose global mindset enables them to easily and effectively navigate cultures and countries
In an ethnocentric framework, firms prioritize local managers for their understanding of local markets and customers. They also believe in the superiority of headquarters' management practices and develop executives with a global mindset to navigate diverse cultures and countries effectively.
In an ethnocentric framework:
- Firms believe that local managers are stronger performers because they have a better understanding of local customers, markets, and institutions.
- Firms prioritize posting the most qualified executives to expatriate positions regardless of their nationality.
- It signifies the belief that the management principles and business practices used by the headquarters of the company are superior to those used in other countries.
- Firms focus on developing executives who have a global mindset, enabling them to navigate different cultures and countries effectively.
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As an operations manager, you know that you need to able to quantify the performance of your process. That means that you'll need to have certain Key Performance Indicators (KPI's) in place, as well as the ability to gather data to establish process standards, measure productivity, monitor, and track process output rates, create production standards, and develop operations budgets. Measuring the output of a production line per period is normal and accepted type of measurement. Industrial engineers and other management personnel find that these courses.moodle.kpu.ca Measuring the output of a production line per period is normal and accepted type of measurement. Industrial engineers and other management personnel find that these production type of measurements are important to manage the business, manage bonus- pay program, as well as being a fundamental step in any continuous improvement program. In many industrial or manufacturing facilities, the labour force is often represented by a union. In these facilities where unions are in place, given that measurement and KPI's are an important aspect of operations Ma mant whuda wa courses moodle knuca business, manage bonus pay program, as well as being a fundamental step in any continuous improvement program. In many industrial or manufacturing facilities, the labour force is often represented by a union. In these facilities where unions are in place, given that measurement and KPI's are an important aspect of operations management, why do we need to understand why unions (organized labour) may be resistive of efforts to measure and track individual employee performance?
Unions may resist individual performance measurement due to concerns about job security, fairness, and the impact of systemic factors.
Unions may be resistive to efforts of measuring and tracking individual employee performance for several reasons.
Firstly, unions often prioritize collective bargaining and protecting the rights of their members.
They may view individual performance measurement as a threat to job security and fear that it could be used as a basis for disciplinary actions or layoffs.
Secondly, unions may argue that individual performance measurement fails to consider broader systemic factors that impact productivity, such as equipment reliability, training, and resource allocation.
They may advocate for a more holistic approach that focuses on improving overall organizational performance rather than singling out individuals.
Additionally, unions may be concerned about the fairness and objectivity of performance metrics.
They may argue that subjective evaluations can be biased and prone to manipulation, leading to unfair treatment and favoritism.
Overall, unions aim to ensure fair treatment, protect workers' rights, and promote collective well-being.
They may resist individual performance measurement to safeguard against potential negative consequences and advocate for more comprehensive approaches to improve organizational performance.
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The directors of a company about to be formed are considering three alternatives for raising K50,000,000 to establish the enterprise. These are, by issuing:
ordinary K10par shares for K50,000,000
ordinary K10par shares for K40,000,000
and 8%, K10par preferred stock 10,000,000
ordinary K10par shares for K31,000,000
8%, K10par preferred stock 4,000,000
and 8% bonds for 15,000,000
The directors expect a 20% return on investment before interest and taxes. They are also desirous of transferring from profits to retained earnings K3,000,000 each year.
Assuming a tax rate of 35%, prepare a statement showing the profit and dividend available for ordinary shareholders for each of the financing alternatives.
Expert Answer
Investment Amount = K 50,000,000 Return on Investment = 20% before Interest and taxes Return in K = 50,000,000*20% = K10,000,000 Tax rate is 35% Alternative 1: Investment raised by issuing ordinary K10 par shares for K50,000,000 No of ordinary shares…View the full answer
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Alternative 1:
Profit Available for Ordinary Shareholders: K6,500,000
Dividend Available for Ordinary Shareholders: K3,500,000
Alternative 2:
Profit Available for Ordinary Shareholders: K5,200,000
Dividend Available for Ordinary Shareholders: K2,200,000
Alternative 3:
Profit Available for Ordinary Shareholders: K4,030,000
Dividend Available for Ordinary Shareholders: K1,030,000
To calculate the profit and dividend available for ordinary shareholders for each financing alternative, we need to consider the return on investment, taxes, and the transfer to retained earnings.
Alternative 1: Issuing ordinary K10 par shares for K50,000,000
Return on Investment: K50,000,000 * 20% = K10,000,000
Tax on Profit: K10,000,000 * 35% = K3,500,000
Transfer to Retained Earnings: K3,000,000
Profit Available for Ordinary Shareholders:
K10,000,000 - K3,500,000 = K6,500,000
Dividend Available for Ordinary Shareholders (Profit - Transfer to Retained Earnings):
K6,500,000 - K3,000,000 = K3,500,000
Alternative 2: Issuing ordinary K10 par shares for K40,000,000 and 8%, K10 par preferred stock for K10,000,000
Return on Investment: K40,000,000 * 20% = K8,000,000
Tax on Profit: K8,000,000 * 35% = K2,800,000
Transfer to Retained Earnings: K3,000,000
Profit Available for Ordinary Shareholders:
K8,000,000 - K2,800,000 = K5,200,000
Dividend Available for Ordinary Shareholders (Profit - Transfer to Retained Earnings):
K5,200,000 - K3,000,000 = K2,200,000
Alternative 3: Issuing ordinary K10 par shares for K31,000,000, 8% preferred stock for K4,000,000, and 8% bonds for K15,000,000
Return on Investment: K31,000,000 * 20% = K6,200,000
Tax on Profit: K6,200,000 * 35% = K2,170,000
Transfer to Retained Earnings: K3,000,000
Profit Available for Ordinary Shareholders:
K6,200,000 - K2,170,000 = K4,030,000
Dividend Available for Ordinary Shareholders (Profit - Transfer to Retained Earnings):
K4,030,000 - K3,000,000 = K1,030,000
In summary, the profit and dividend available for ordinary shareholders for each financing alternative are as follows:
Alternative 1:
Profit Available for Ordinary Shareholders: K6,500,000
Dividend Available for Ordinary Shareholders: K3,500,000
Alternative 2:
Profit Available for Ordinary Shareholders: K5,200,000
Dividend Available for Ordinary Shareholders: K2,200,000
Alternative 3:
Profit Available for Ordinary Shareholders: K4,030,000
Dividend Available for Ordinary Shareholders: K1,030,000
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Department of Accounting, Finance \& Banking EXPO Ltd, a UK resident trading company produced the following results for the year ended 31 March 2022. There were capital losses of £9,000 brought forward on 1 April 2021. Required: How much investment income (non-trade loan relationship income) should be included in the taxable total profits? What are the taxable total profits? (1 12
The non-trade loan relationship income is £16,000 and the taxable total profits are £247,000.
The calculation of non-trade loan relationship income and taxable total profits based on the given data is shown below:
Calculation of non-trade loan relationship income:
There are capital losses of £9,000 brought forward on 1 April 2021.
Investment income = Interest on bank deposits + Dividend received from investments (if any) = 16,000 + 0 (as no dividend income is given) = 16,000
Therefore, non-trade loan relationship income for the year ended 31 March 2022 is £16,000.
Calculation of taxable total profits: ParticularsAmount (£) Trading income £360,000
Less: Cost of sales(120,000) Gross profit £240,000
Add: Investment income16,000
Less: Capital losses brought forward(9,000) Total taxable profits £247,000
Therefore, the non-trade loan relationship income is £16,000 and the taxable total profits are £247,000.
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Describe and explain briefly 3 market entry barriers in
international business and 3 market entry barriers in the industry
of your choice.
Market Entry Barriers Market entry barriers are obstacles that restrict the entry of new firms into the market, restricting fair competition. They limit the access of companies to the market, affecting their market share. Market entry barriers can be classified into two groups natural or artificial.
The natural entry barriers are those that naturally arise from the market environment, such as technology, economies of scale, and others. Artificial barriers, on the other hand, are created by firms or the government to restrict the entry of new firms into the market. of market entry barriers Natural entry barriers are those that occur naturally and are part of the market environment. They include economies of scale, technology, and learning curves.Economies of scale occur when a firm produces in large quantities, reducing its cost of production. As such, new entrants find it challenging to compete with established firms since they cannot produce in large quantities, thus increasing their cost of production. Technology is another natural entry barrier that new entrants may encounter. Established firms may have invested in new technologies, which may take new entrants a long time to acquire, giving established firms a competitive advantage over new entrants.
he of industry barriers In the automobile industry, the market entry barriers may include government regulations, brand recognition, and the cost of production. Countries have different cultures and beliefs, and firms may have to adapt to new cultures to penetrate new markets. Cultural differences may also affect the type of products that firms offer in different markets .Three market entry barriers in the automobile industry are high capital investment, high competition, and government regulation .High capital investment: The automobile industry requires a high initial capital investment in terms of production plants, machinery, and labor. This high capital investment may limit the entry of new firms into the market. High competition The automobile industry has a high level of competition, making it difficult for new entrants to penetrate the market and compete with established firms. Government regulation Governments regulate the automobile industry, and new entrants may have to meet strict regulations, thus making it difficult for new entrants to enter the market.
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The liability of manufacturers and sellers of goods for a defective product, or for its failure to perform adequately, may be based on what? (we covered 5 possible causes of action)
2.What are the types of warranties? Please explain each type. 3.What are the various defenses to an action based on warranty? 4.What constitutes acceptance by a buyer and when can acceptance be revoked?
1. The liability of manufacturers and sellers for defective products may be based on strict liability, negligence, breach of warranty, misrepresentation, or failure to warn. 2. Types of warranties include express warranties, implied warranties of merchantability, and implied warranties of fitness for a particular purpose. 3. Defenses to warranty claims include disclaimers, lack of privity, misuse or alteration of the product, and assumption of risk. 4. Acceptance by a buyer occurs when the buyer accepts the goods or fails to reject them within a reasonable time. Acceptance can be revoked in certain circumstances,
1. The liability of manufacturers and sellers for a defective product or its failure to perform adequately may be based on the following causes of action:
a) Strict liability: Manufacturers and sellers can be held strictly liable for injuries or damages caused by a defective product, regardless of their negligence or fault.
b) Negligence: Manufacturers and sellers can be held liable if they fail to exercise reasonable care in designing, manufacturing, or selling a product, leading to harm or injury to the consumer.
c) Breach of warranty: Manufacturers and sellers can be held liable if they fail to fulfill the promises or warranties made regarding the quality, performance, or condition of the product.
d) Misrepresentation: Manufacturers and sellers can be held liable if they make false statements or representations about the product, leading to harm or injury to the consumer.
e) Failure to warn: Manufacturers and sellers can be held liable if they fail to provide adequate warnings or instructions about potential risks or dangers associated with the product's use.
2. The types of warranties are:
a) Express warranty: An express warranty is a specific promise or guarantee made by the seller to the buyer regarding the quality, performance, or condition of the product. It can be oral or in writing.
b) Implied warranty of merchantability: This warranty is automatically implied by law in every sale of goods by a merchant. It guarantees that the product is reasonably fit for its intended purpose and is of average, acceptable quality.
c) Implied warranty of fitness for a particular purpose: This warranty arises when the seller knows or has reason to know the buyer's specific purpose for purchasing the product and assures the buyer that the product is suitable for that particular purpose.
3. The various defenses to an action based on warranty include:
a) Disclaimer: The seller may include a valid disclaimer stating that certain warranties do not apply to the product, provided it is reasonable and conspicuous.
b) Lack of privity: Some jurisdictions require a direct contractual relationship (privity) between the buyer and the seller for warranty claims. If privity does not exist, the seller may argue that they are not liable for any breach of warranty.
c) Misuse or alteration of the product: If the buyer's misuse or alteration of the product caused the defect or failure, the seller may argue that they are not responsible for the resulting damages.
d) Assumption of risk: If the buyer knew about the defect or risk associated with the product and still chose to use it, the seller may argue that the buyer assumed the risk and is therefore not entitled to damages.
4. Acceptance by a buyer occurs when the buyer:
- Expressly accepts the goods (e.g., verbally or in writing).
- Fails to reject the goods within a reasonable time after delivery.
- Performs any act inconsistent with the seller's ownership (e.g., reselling or using the goods).
Acceptance can be revoked if:
- The goods have a defect that substantially impairs their value and the buyer timely notifies the seller.
- The seller had previously assured the buyer that the goods would meet certain specifications, and they fail to do so.
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Prepare Cash flow statement using Indirect Method
Balance sheet as on 31 December 2019
2020 (in $)
2019(in $)
ASSETS
Cash
8000
5000
Accounts receivable
15000
12000
Inventory
30000
33000
Net Equipment
24000
20000
Total assets
77000
70000
Liabilities and equity
Accounts payable
21000
17000
Accrued liability
4000
5000
Common shares
35000
30000
Retained earnings
17000
18000
Total liabilities and equity
77000
70000
Income statement
Sales
140,000
Cost of goods sold
30,000
Gross profit
1,10,000
Operating expenses-
80000
Depreciation expense
10000
Loss on sale of equipment
5000
95,000
Net income
15000
Additional Information
1. Equipment costing 20,000, depreciation 12000 was sold for $3000
2. Purchased equipment costing 22000 by paying 17000 cash and remaining as accounts payable
The Cash Flow Statement using the indirect method shows a net increase in cash of $38,000, resulting in a cash balance of $43,000 at the end of the period.
To prepare the Cash Flow Statement using the indirect method, we will start with the net income and make adjustments for non-cash items and changes in working capital. Here's the Cash Flow Statement:
Cash Flow from Operating Activities:
Net Income: $15,000
Adjustments for non-cash items:
Depreciation Expense: $10,000
Loss on Sale of Equipment: $5,000
Changes in working capital:
Increase in Accounts Receivable: $3,000 (15000 - 12000)
Decrease in Inventory: $3,000 (33000 - 30000)
Increase in Accounts Payable: $4,000 (21000 - 17000)
Increase in Accrued Liability: $1,000 (5000 - 4000)
Net Cash provided by Operating Activities: $35,000
Cash Flow from Investing Activities:
Proceeds from Sale of Equipment: $3,000
Purchase of Equipment: $(22,000 - $17,000) = $5,000 (cash portion)
Net Cash used in Investing Activities: -$2,000
Cash Flow from Financing Activities:
Increase in Common Shares: $5,000 (35000 - 30000)
Net Cash provided by Financing Activities: $5,000
Net Increase in Cash: $35,000 - $2,000 + $5,000 = $38,000
Cash at the beginning of the period: $5,000
Cash at the end of the period: $5,000 + $38,000 = $43,000
Therefore, the Cash Flow Statement using the indirect method shows a net increase in cash of $38,000, resulting in a cash balance of $43,000 at the end of the period.
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How should the repayment of debt principal to the lending firm by the borrowing firm on a loan be classified on the lender's side ?
a. Operating inflow
b. Operating outflow
c. Investing inflow
d. Investing outflow
e. Financing inflow
f. Financing outflow
The repayment of debt principal to the lending firm by the borrowing firm on a loan should be classified on the lender's side as a **financing inflow**.
When a borrowing firm repays the principal amount of a loan to the lending firm, it represents a return of funds to the lender. This repayment is considered a financing activity because it involves the flow of funds between the borrowing firm and the lender, impacting the lender's financing structure.
The lender's classification of the repayment as a financing inflow reflects the fact that the lender is receiving funds back, which were originally provided as financing to the borrower. It represents an increase in the lender's cash or cash equivalents resulting from the repayment of the principal amount.
Therefore, the correct classification for the repayment of debt principal to the lending firm on a loan on the lender's side is **e. Financing inflow**.
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Europe's single currency, the euro, was introduced in January 1999, replacing the currencies of 11 European Union members, including France, Germany, Italy, and Spain (but not Britain). Do you think that, immediately after the euro's introduction, the value of foreign exchange trading in euros was greater or less than the euro value of the pre-1999 trade in the 11 original national currencies? Explain your answer.
The value of foreign exchange trading in euros was greater than the euro value of the pre-1999 trade in the 11 original national currencies immediately after the euro's introduction.
The Euro is the official currency of the Europe. The EUR is one of the many exchanged currencies in India. As we know that the euro, Europe's single currency, was introduced in January 1999, and it replaced the currencies of 11 European Union members, which included France, Germany, Italy, and Spain (but not Britain). The value of foreign exchange trading in euros was greater than the euro value of the pre-1999 trade in the 11 original national currencies immediately after the euro's introduction.
Before the introduction of the euro, the foreign exchange rate between two different national currencies was estimated by evaluating the exchange rate between the currencies of the two countries and then, using that evaluation as a cross-rate to deduce the exchange rate between the two currencies. For example, the exchange rate between the French franc and the German mark was calculated using the exchange rate between the French franc and the US dollar and the exchange rate between the German mark and the US dollar.
The exchange rate between the French franc and the German mark was then derived using a cross-rate between the French franc/US dollar and the German mark/US dollar exchange rates. However, after the euro's introduction, cross-rates became irrelevant since all transactions were done in euros. As a result, there was an upsurge in foreign exchange trading in euros. This led to an immediate increase in the value of foreign exchange trading in euros.
Therefore, the value of foreign exchange trading in euros was greater than the euro value of the pre-1999 trade in the 11 original national currencies immediately after the euro's introduction.
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The value of foreign exchange trading in euros would likely have been less than the value of pre-1999 trades in the original national currencies immediately after the euro's introduction, due to the gradual adoption of the euro and a reduction in currency conversions.
Explanation:The value of foreign exchange trading in euros immediately after its introduction in January 1999 would likely have been less than the euro value of the pre-1999 trade in the 11 original national currencies. There are several reasons for this.
Firstly, the euro was only initially used for commercial and financial transactions and took a few more years to become the legal tender in the majority of the EU countries, implying a transition period. Secondly, in the foreign exchange market, transactions require converting from one currency to another. Therefore, when the euro replaced multiple currencies, it may have reduced the total volume of currency conversions, and thus, likely reduced the total value of foreign exchange trades. Furthermore, in the initial period of the euro introduction, uncertainty and lack of familiarity might have made traders temporarily cautious and less active.
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Which approach do entrepreneurs often utilize to shorten the product development stage by releasing products in repeated stages? A. Rapid finish B. Iterative start-up C. Product staging D. Lean start-up QUESTION 4 What's the most common form of trade liberalization? A. a. Reduction of trade barriers B. Bilateral agreements C. Nationalism D. Multilateral agreements
Option B: Iterative start-up involves releasing products or services in incremental stages, gathering feedback from customers and stakeholders, and making improvements based on that feedback.
For Question 4 The most common form of trade liberalization is A. Reduction of trade barriers.
This iterative process allows entrepreneurs to quickly iterate and refine their products, reducing development time and increasing the chances of creating a successful product that meets customer needs.
For Question 4, the most common form of trade liberalization is A. Reduction of trade barriers. Trade liberalization refers to the process of reducing or eliminating barriers to international trade, such as tariffs, quotas, and other trade restrictions. By reducing trade barriers, countries aim to promote free trade, increase market access, and foster economic growth through increased trade and investment flows.
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For a business, goods and services tax (GST) and/or Harmonized Sales Tax (HST) paid is included in the amount recorded as an asset or an expense when a purchase is made. True False
The statement "For a business, goods, and services tax (GST) and/or Harmonized Sales Tax (HST) paid is included in the amount recorded as an asset or an expense when a purchase is made." is a FALSE statement.
Goods and Services Tax (GST) and/or Harmonized Sales Tax (HST) paid are taxes paid by the customer on the purchase of goods and services from a business.
Therefore, a business should not record these taxes as an asset or an expense. Instead, these taxes should be recorded as a liability in the business's financial statements.
The amount of the taxes collected from customers is considered a liability until it is remitted to the appropriate government agency on behalf of the customers.
Hence, the statement "For a business, goods, and services tax (GST) and/or Harmonized Sales Tax (HST) paid is included in the amount recorded as an asset or an expense when a purchase is made." is a FALSE statement.
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What did the 2017 Tax Cuts and Jobs Act cut the corporate tax rate from 35% to _____ in the United States?
The 2017 Tax Cuts and Jobs Act reduced the corporate tax rate from 35% to 21% in the United States.
This significant reduction aimed to stimulate economic growth and encourage business investment. By lowering the corporate tax burden, the legislation aimed to increase the competitiveness of American companies, attract foreign investment, and boost job creation.
Proponents argued that the lower tax rate would free up resources for businesses to expand operations, hire additional workers, and invest in research and development.
However, critics raised concerns about the potential impact on government revenues and wealth inequality, as the reduced tax rate primarily benefited corporations and their shareholders.
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identify and analyze the pros and cons of the
bureaucratic model advanced by max Weber. explain the implications
of relying on principles in this model to run a university.
Max Weber, a German sociologist, economist, and politician, contributed greatly to the development of organizational theory with his bureaucratic model. This model is still relevant today and can be seen in many modern organizations. In this answer, we will identify and analyze the pros and cons of the bureaucratic model advanced by Max Weber. Then, we will explain the implications of relying on principles in this model to run a university.
Pros of the bureaucratic model:1. Specialization: Jobs are divided and organized based on specific roles and responsibilities, which can result in greater efficiency and productivity.2. Hierarchy: Employees are organized into a hierarchy, which creates clear lines of authority and responsibility.3. Impersonal: Bureaucracies are supposed to be impartial and unbiased, which means that decisions are made based on objective criteria, not personal opinions or feelings.4. Predictable: Rules and procedures are clearly defined and followed, resulting in a predictable and consistent work environment.Cons of the bureaucratic model:1. Inflexible: Bureaucracies can be rigid and inflexible, which can make it difficult to adapt to change or respond to new situations.2. Bureaucratic red tape: Bureaucracies can become bogged down in rules and procedures, which can lead to excessive paperwork and bureaucracy.3. Alienation: Bureaucracies can create a sense of alienation among employees, as they may feel disconnected from their work or the organization as a whole.4. Resistance to change: Bureaucracies can be resistant to change, as they often value stability and predictability over innovation.Implications of relying on principles in this model to run a university:If a university were to rely on principles from the bureaucratic model to run its organization, it could result in greater efficiency and productivity through the use of specialization and clear lines of authority. However, it could also lead to an inflexible and bureaucratic organization that is resistant to change. Additionally, a bureaucratic organization may not value creativity and innovation, which could be a disadvantage in a university setting where new ideas and research are highly valued. In conclusion, while the bureaucratic model has its advantages and disadvantages, it may not be the most effective model for running a university that values creativity, innovation, and flexibility.
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list the benefits of reviewing a diversity plan
Reviewing a diversity plan can have several benefits, including:
Identifying areas of improvement
Ensuring compliance
Enhancing reputation
Attracting and retaining talent
Driving innovation
Improving decision-making
Increasing productivity
Identifying areas of improvement: By reviewing a diversity plan, an organization can identify areas where it can improve its efforts to create a more diverse and inclusive workplace.
Ensuring compliance: Many organizations are required by law to have a diversity plan in place. Reviewing the plan can help ensure that the organization is meeting legal requirements.
Enhancing reputation: Organizations that prioritize diversity and inclusion often have a better reputation among employees, customers, and stakeholders. Reviewing and improving a diversity plan can enhance an organization's reputation as an inclusive and equitable employer.
Attracting and retaining talent: Employees are often attracted to organizations that prioritize diversity and inclusion. A well-crafted diversity plan can help an organization attract and retain top talent.
Driving innovation: Diverse teams can bring different perspectives and ideas to the table, which can drive innovation and creativity within an organization.
Improving decision-making: A diverse group of employees can offer a broader range of opinions and ideas, which can lead to better decision-making at all levels of the organization.
Increasing productivity: When employees feel valued and included, they are more likely to be engaged and productive. A diversity plan can help create a culture where all employees feel supported and valued.
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Provide an appropriate response. At a particular point in time, the stock market took big swings up and down. A survey of 1,014 adult investors asked how often they tracked their portfolio. The table shows the investor responses. What is the probability that an adult investor tracks his or her portfolio daily? Express your answer as a simplified fraction and as a decimal rounded to three decimal places. a ; 0.271
b ; 0.146
c ; 0.288
d ; 0.232
The probability that an adult investor tracks his or her portfolio daily is approximately 0.271 or 27.1%.
To determine the probability, we divide the number of investors who track their portfolio daily (275) by the total number of investors surveyed (1,014). This gives us a probability of 275/1,014, which simplifies to approximately 0.271 or 27.1% when expressed as a decimal rounded to three decimal places.
Therefore, based on the survey data, we can conclude that around 27.1% of adult investors track their portfolio daily, indicating a significant portion of investors who actively monitor their investments on a daily basis.
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You expect to receive $30,000 at graduation in two years. You plan on investing it at 7 percent until you have $100,000. How long will you wait from now? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) Years to wait
You will have to wait approximately 11.24 years from now to reach $100,000, starting with an initial investment of $30,000 and investing at a 7 percent interest rate.
To find out how long you will have to wait to reach $100,000, starting from $30,000 and investing at 7 percent interest:
1. Calculate the future value (FV) using the formula:
FV = PV * (1 + r)^n
where FV is the future value, PV is the present value ($30,000), r is the interest rate (7 percent or 0.07), and n is the number of periods.
2. Rearrange the formula to solve for n:
n = log(FV / PV) / log(1 + r)
3. Substitute the values into the formula:
n = log(100,000 / 30,000) / log(1 + 0.07)
4. Calculate the result using a calculator or spreadsheet software:
n ≈ 11.24
Therefore, you will have to wait approximately 11.24 years to accumulate $100,000 from your initial investment of $30,000 at a 7 percent interest rate.
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Suppose the price of computers increase. However, people buy more because they expect prices will increase even more.
This is not a violation of the law of demand, because expectations is one of the factors that we keep constant. The demand curve shifted to the left in this case.
This is not a violation of the law of demand, because expectations is one of the factors that we keep constant. The demand curve shifted to the right in this case.
O This is a clear violation of the law of demand because law of demand says people buy more when goods are more expensive goods
This is a clear violation of the law of demand because law of demand says people buy more when goods are less expensive
The correct answer is that "This is not a violation of the law of demand, because expectations is one of the factors that we keep constant. The demand curve shifted to the right in this case."Suppose the price of computers increase. However, people buy more because they expect prices will increase even more. This is not a violation of the law of demand, because expectations is one of the factors that we keep constant. The demand curve shifted to the right in this case.The law of demand states that when the price of a good rises, the quantity of the good demanded falls, and when the price of a good falls, the quantity of the good demanded rises. In the given situation, the price of computers has increased, but instead of buying less, people are buying more due to the expectations of further increase in price.This isn't a violation of the law of demand, because it is well known that expectations are one of the factors that we keep constant. When the price of a good is expected to rise in the future, consumers tend to buy more of it today. This results in a shift of the demand curve to the right in the present time frame. Hence, this situation is not a violation of the law of demand.
On January 1, 2022, Gobert Corp. leases equipment from Mitchell, Inc. The lease calls for annual payments of $80,000 to be made every January 1 from 2022 through 2030. The equipment has a ten year useful life. Gobert guarantees a residual value of $20,000 at the end of the lease term, although the equipment is expected to have no value at that time. Mitchell's implicit rate, known to Gobert, is 5%. Gobert's incremental borrowing rate is 8%. The entry to record the lease at inception will include a debit to Right-of-Use Asset of:
The entry to record the lease at inception will include a debit to Right-of-Use Asset of $657,913.35.
To determine the initial recognition of the lease liability and right-of-use asset, we need to calculate the present value of the lease payments. The lease payments of $80,000 per year from 2022 to 2030 can be considered an ordinary annuity.
Given that the implicit rate known to Gobert is 5%, we can use this rate to discount the future cash flows. Using the formula for present value of an ordinary annuity, we can calculate the present value of the lease payments.
The present value of the lease payments is found to be $657,913.35. This amount represents the initial measurement of the right-of-use asset, which is the present value of the future cash outflows associated with the lease. It reflects the value of the leased equipment that Gobert has control over during the lease term.
It's worth noting that the residual value of $20,000 guaranteed by Gobert does not impact the initial measurement of the right-of-use asset, as the equipment is expected to have no value at the end of the lease term. The residual value would only come into play if there was a reasonable expectation that the equipment would have value at the end of the lease.
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The CFO states, "our profits are down substantially", why is that? Which of the following questions is the best to focus on to deliver using analytics?
Group of answer choices
How is the economy?
How are other comparable stores doing?
Did we have changes in key employees
Have our cost structures changed?
To determine why the profits are down substantially, the best question to focus on using analytics would be "Have our cost structures changed?"
Analyzing the changes in cost structures can provide valuable insights into the reasons behind the decline in profits. By examining and comparing various cost components such as raw materials, labor, operating expenses, and overhead costs, the company can identify specific areas where costs have increased or become inefficient.
By using analytics, the company can delve deeper into cost data and identify patterns, trends, and potential cost drivers. This analysis can help uncover the root causes of the profit decline, such as rising material costs, increased labor expenses, inefficient processes, or other factors impacting the cost structure.
Understanding the changes in cost structures through analytics allows the company to make informed decisions and take appropriate actions to address the underlying issues. It enables management to identify cost-saving opportunities, optimize operations, and improve overall profitability.
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P&B Inc., a medium-sized manufacturing family-owned firm operates in a market characterised by quick delivery and reliability of scheduling as well as frequent dramatic changes in design innovation and customer demand. As the operations analysts at P&B Inc., discuss how you would prioritise for implementation the following FOUR (4) critical and strategic decision areas of operations management as part of P&B's 'input-transformation-output' process to achieve competitive advantage:
1. Goods and service design
2. Human resources and job design
3. Inventory, and
4. Scheduling
In addition to the above, your discussion should include an introduction in which the strategy option implicated by the market requirements is comprehensively described.
P&B Inc. should adopt a market-focused strategy that emphasizes quick delivery, reliability, design innovation, and customer satisfaction. By prioritizing goods and service design, human resources and job design, inventory management, and scheduling, P&B Inc. can achieve a competitive advantage in the market.
In a market characterized by quick delivery, reliability of scheduling, design innovation, and customer demand, P&B Inc. needs to prioritize the following critical and strategic decision areas of operations management to achieve competitive advantage:
1. Goods and service design: P&B Inc. should focus on designing products and services that meet the specific needs and preferences of their customers. This includes considering factors such as quality, functionality, and aesthetics. By offering innovative and customizable products, P&B Inc. can differentiate themselves from competitors and attract more customers.
2. Human resources and job design: P&B Inc. should prioritize optimizing their workforce by ensuring they have the right skills and abilities to meet the demands of the market. This involves effective recruitment, training, and development programs. Job design should also be considered to maximize efficiency and productivity.
3. Inventory: Given the frequent changes in design innovation and customer demand, P&B Inc. should implement efficient inventory management practices. This includes having accurate demand forecasting, implementing just-in-time inventory systems, and optimizing inventory levels to minimize costs while ensuring quick delivery.
4. Scheduling: P&B Inc. needs to have an efficient scheduling system to handle the frequent changes in customer demand. This involves coordinating production processes, allocating resources effectively, and optimizing the use of machinery and equipment.
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Such items as desserts and appetizers usually have a lower contribution margin compared with higher priced menu items, such as main dishes. Which of the following best describes why it is still good to offer these menu items? Select one O a. Many customers may want to order appetizers or desserts b. It is not a good idea to sell the items that have lower contribution margin. c. Customers prefer items with high calories because they feel satisfied when eating them Od. These items can increase profitability of a restaurant because of lower labor cost Based on the course materials, light food served to customers as complimentary appetizers is called: Select one: a. Intra-unit transfer b. Gratis to bar c. Complimentary sales d. Steward sales The major problem of the calculation of the monthly food cost alone is Select one: a. that it is not accurate. b. that it is not common in restaurant business. Oc that it is too difficult to analyze d. the length of time between reports. The owner of Red Rose Restaurant is contemplating keeping the dining room open for one additional hour each night. The owner has determined that this would incur additional labor costs of $134 and $28 in additional costs for heat and light. The restaurant's variable rate is 38. What level of dollar sales volume will be required to break even for this additional hour? Select one: a $261.29 b. $352.63 c. $426.32 d. cannot be determined from the given data Intra-Unit transfers Select one: a always increase the restaurant's food cost. b. always decrease the restaurant's food cost. Oc increase or decrease the restaurant's food cost. d do not affect the restaurant's food cost.
If the transfer occurs at a higher cost, the food cost of the receiving department will increase. Therefore, intra-unit transfers can either increase or decrease the restaurant's food cost.
Such items as desserts and appetizers usually have a lower contribution margin compared with higher-priced menu items, such as main dishes.
It is still good to offer these menu items because many customers may want to order appetizers or desserts. Customers want to have a full dining experience where they can order a starter, main course, and dessert.
This way, the restaurant can provide value to the customer and encourage them to visit again. Also, offering appetizers and desserts on the menu can increase sales. While these items may have a lower contribution margin, the total profits earned by selling these items can be substantial.
Additionally, customers prefer items with high calories because they feel satisfied when eating them. Therefore, offering a wide range of menu options can keep customers happy and increase sales.
Light food served to customers as complimentary appetizers are called Complimentary sales.
The major problem with the calculation of the monthly food cost alone is that it is too difficult to analyze. Monthly food cost is a critical metric for restaurant owners, but calculating it can be challenging. It involves considering many factors such as inventory, purchasing, and food usage. Restaurant owners can use software to automate the process and help them to analyze the data effectively.
The level of dollar sales volume required to break even for this additional hour is $352.63. The restaurant's variable rate is 38. To calculate the break-even point, the formula used is
Contribution Margin Ratio = Contribution Margin / Sales. Then, Break-Even Sales = Fixed Costs / Contribution Margin Ratio.
In this case, the fixed costs are $134 + $28 = $162. The contribution margin ratio is 100% - 38% = 62%.
Thus, the Break-Even Sales = $162 / 62% = $261.29.
Therefore, the level of dollar sales volume required to break even for this additional hour is $352.63.
Intra-Unit transfers can either increase or decrease the restaurant's food cost. Intra-Unit transfers are the movement of goods from one department or unit to another. In restaurants, it involves moving inventory or food from one kitchen to another kitchen.
These transfers can help reduce the food cost of the receiving department. If the inventory or food is transferred at a lower cost, the cost of goods sold to the receiving department will be lower, which can decrease the food cost.
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(Capital Asset Pricing Model) Breckenridge, Inc., has a beta of 0.91 If the expected market return is 11.0 percent and therisk-free rate is 5.5 percent, what is the appropriate expected return of Breckenridge (using the CAPM)?
The appropriate expected return of Breckenridge is
The Capital Asset Pricing Model (CAPM) formula is:r = rf + beta * (rm - rf) .The appropriate expected return of Breckenridge, Inc. using the CAPM is 10.48%
The Capital Asset Pricing Model (CAPM) formula is:
r = rf + beta * (rm - rf)
where r is the expected return on the asset, rf is the risk-free rate, beta is the asset's beta, and rm is the expected return on the market.
Plugging in the values, we get:
r = 0.055 + 0.91 * (0.11 - 0.055)
r = 0.055 + 0.91 * 0.055
r = 0.055 + 0.0498
r = 0.1048 or 10.48%
Therefore, the appropriate expected return of Breckenridge, Inc. using the CAPM is 10.48%.
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Culver Company's net income for 2020 is $706,000, and 87,000 shares of common stock were issued and outstanding during 2020 . The only potentially dilutive securities outstanding were 27,000 executive stock options issued during 2019, each exercisable for one share at $19.00, none of these have been exercised. The average market price of Culver's stock during 2020 was $24.50. (a) Compute diluted earnings per share. (Round answer to 2 decimal places, es. 2.55) Diluted earnings per share $ (b) Assume the same facts as those assumed for part (a), except that 10.000 additional options were issued on October 1.2020, with : an exercise price of $25,50 (the market price of the common stock on that date). The average market price during the last 3 months of 2020 was $28.00. (Round answer to 2 decimal places, e. 2.55.) Oiluted earnings per share $ eTextbook and Media.
For part (a), the diluted EPS is the same as the basic EPS, which is $8.11. For part (b), the calculation of diluted EPS requires additional information on the options, which is not provided in the question.
Diluted earnings per share (EPS) is a measure that takes into account the potential dilution of a company's earnings per share due to the existence of potentially dilutive securities, such as stock options. In this case, we need to calculate the diluted EPS for Culver Company based on the given information.
(a) To compute the diluted EPS for part (a), we consider the 27,000 executive stock options issued in 2019. Since the exercise price of $19.00 is lower than the average market price of $24.50, these options are not dilutive. Therefore, the diluted EPS is the same as the basic EPS.
The diluted earnings per share for part (a) is calculated by dividing the net income of $706,000 by the weighted average shares outstanding of 87,000:
Diluted EPS = Net Income / Weighted Average Shares Outstanding
Diluted EPS = $706,000 / 87,000
Diluted EPS = $8.11
(b) For part (b), we assume an additional issuance of 10,000 options on October 1, 2020, with an exercise price of $25.50. The average market price during the last 3 months of 2020 was $28.00. Since the exercise price is lower than the average market price, these options are dilutive and need to be considered.
To calculate the diluted EPS for part (b), we would need additional information regarding the terms of the options, such as the vesting period and the period of time they can be exercised. Unfortunately, that information is not provided in the question. Once we have those details, we can determine the potential dilution and calculate the diluted EPS accordingly.
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Repair is a design constraint and an outcome of product design "end-of-pipe solution". The description of a pollution-control approach that cleans up contaminated flows of water or air at the point where that effluent enters the environment. On the contrary, redesign improves product quality and reduces cycle time, a Life cycle approach that takes the following seriously: feedback seriously, setting a specific goal, the culture of innovation, and the actual time a) What are the recommendations that could be derived from such an observation? b) Propose a model per the recommendations in question (a). c) Implement the proposed model in question (b).
Repair is a design constraint and an outcome of product design "end-of-pipe solution".
The description of a pollution-control approach that cleans up contaminated flows of water or air at the point where that effluent enters the environment. On the contrary, redesign improves product quality and reduces cycle time, a Life cycle approach that takes feedback seriously, setting a specific goal, the culture of innovation, and the actual time.What are the recommendations that could be derived from such an observation? The following recommendations can be made from the observation that "Repair is a design constraint and an outcome of product design end-of-pipe solution. Redesign improves product quality and reduces cycle time, a life cycle approach that takes feedback seriously, setting a specific goal, the culture of innovation, and the actual time":
The product design should be designed in such a way that it lasts longer and reduces the need for repair and maintenance.
The design of the product should be done in such a way that it can be repaired with ease.
A life cycle approach should be adopted while designing the product to ensure that the product can be used for a longer time.
The culture of innovation should be encouraged, and specific goals should be set, which will lead to product design that reduces the need for repair and maintenance.
The actual time required for product design should be taken into account while designing the product.
It is recommended that the product should be designed in such a way that it lasts longer and reduces the need for repair and maintenance. The design should also be such that it can be repaired with ease. A life cycle approach should be adopted while designing the product to ensure that the product can be used for a longer time.The culture of innovation should be encouraged, and specific goals should be set, which will lead to product design that reduces the need for repair and maintenance. The actual time required for product design should be taken into account while designing the product.Proposed model per the recommendations in question
The following model is proposed per the recommendations in question
The design should be made in such a way that it is simple and durable, with easy repair and maintenance.
The design should be such that it can be easily modified to meet changing customer needs.
The product design should be done in such a way that it is environmentally friendly.
The product design should take into account the entire life cycle of the product, from manufacturing to disposal. Implementation of the proposed model in question
The implementation of the proposed model would involve the following steps:
Developing a product design that meets the requirements of the proposed model.
Conducting tests on the product design to ensure that it meets the requirements of the proposed model.
Making necessary modifications to the product design to meet the requirements of the proposed model.
Developing a marketing strategy to promote the product.
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Some analysts believe that the current regulatory system aims to control risk within a bank's lending portfolio but by doing this also restricts the bank's ability to maximise profits. Critically evaluate this statement.
It is true that the current regulatory system aims to control risk within a bank's lending portfolio. This is done through a number of measures, such as capital requirements, liquidity requirements, and loan-to-deposit ratios. These measures are designed to ensure that banks have enough capital to absorb losses and that they have enough liquidity to meet their obligations.
However, it is also true that these regulations can restrict a bank's ability to maximize profits. For example, capital requirements can make it more expensive for banks to lend money. Liquidity requirements can make it more difficult for banks to invest in assets that are not as liquid. And loan-to-deposit ratios can limit the amount of loans that banks can make.
The extent to which these regulations restrict a bank's ability to maximize profits depends on a number of factors, such as the size of the bank, the type of loans that the bank makes, and the overall state of the economy. In general, larger banks and banks that make riskier loans are more likely to be affected by these regulations.
It is important to note that the current regulatory system is not designed to maximize profits for banks. Instead, it is designed to protect the financial system from systemic risk. This is done by ensuring that banks have enough capital to absorb losses and that they have enough liquidity to meet their obligations.
There is a trade-off between risk and profit. Banks that take on more risk can potentially earn higher profits. However, they are also more likely to experience losses. The current regulatory system aims to strike a balance between risk and profit by ensuring that banks have enough capital to absorb losses.
The current regulatory system is not perfect. There are a number of ways in which it could be improved. However, it is important to remember that the system is designed to protect the financial system from systemic risk, not to maximize profits for banks.
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The Dyuter Corporation company has tho followng purchuses and sales turny the yoar endod December 31,2014
(a) The Gross Profit is calculated as: [tex]Gross Profit = Sales Revenue - Cost of Good Sold[/tex] . After calculation the gross profit is $10,500. The whole calculation is shown in the attached image.
Gross profit is a financial metric that represents the difference between net sales revenue and the cost of goods sold (COGS) for a company. It is an indicator of a company's profitability before taking into account operating expenses, interest, and taxes. Gross profit provides insight into the efficiency and profitability of a company's core operations.
(b) The journal entry is shown in the attached image below.
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The complete question is shown in the attached image below.
Which of the following statements is true regarding the Social economic man? a. A person motivated by simultaneous of selt-interest and deep regard of group or community norms and values b.A person behaves according to institutional norms and rules c. A person who has a conscience and acts out for justice d. None of the above
The statement that is true regarding the Social Economic Man is option b: "A person behaves according to institutional norms and rules."
In the concept of the Social Economic Man, individuals are believed to behave rationally and according to institutional norms and rules. This perspective assumes that individuals are primarily motivated by self-interest and seek to maximize their own utility or economic gain. They are seen as rational actors who make decisions based on cost-benefit analysis and respond to incentives in their economic interactions.
1. Option a: A person motivated by simultaneous self-interest and deep regard for group or community norms and values: This statement does not accurately describe the Social Economic Man. The concept assumes that individuals are primarily motivated by self-interest rather than a simultaneous deep regard for community norms and values.
2. Option b: A person behaves according to institutional norms and rules: This statement aligns with the concept of the Social Economic Man. It suggests that individuals act in accordance with established norms and rules within institutions, such as markets, organizations, or legal systems. They make decisions and engage in economic behavior based on the existing institutional framework.
3. Option c: A person who has a conscience and acts out for justice: This statement does not accurately reflect the perspective of the Social Economic Man. The concept assumes individuals make decisions based on self-interest rather than conscience or a pursuit of justice.
4. Option d: None of the above: This option is incorrect since option b is the accurate statement regarding the Social Economic Man.
In summary, the true statement regarding the Social Economic Man is that individuals behave according to institutional norms and rules. They are rational actors driven by self-interest and make economic decisions based on the existing institutional framework rather than being motivated by a simultaneous regard for community norms or a pursuit of justice.
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