Verbs that can be used to highlight qualifications for a position include delivered, taught, trained. These verbs emphasize the ability to effectively communicate and transfer knowledge or skills, demonstrating expertise and competence in specific areas.
When highlighting qualifications for a position, it is important to choose verbs that showcase relevant skills and experiences. The following verbs can effectively demonstrate qualifications:
Delivered: This verb emphasizes the ability to effectively convey information or presentations. It highlights strong communication and presentation skills, indicating the capability to deliver engaging and impactful content.
Taught: This verb showcases the ability to impart knowledge or skills to others. It highlights expertise in a particular subject matter and the ability to educate and train individuals or groups.
Trained: This verb demonstrates the capacity to provide instruction and guidance to individuals or teams, enabling them to develop specific skills or competencies. It showcases the ability to design and implement training programs and support professional development.
Using these verbs in describing qualifications can convey a proactive approach to sharing knowledge, expertise, and training abilities. It showcases the candidate's ability to effectively communicate, educate, and empower others, making them strong candidates for positions that require teaching, training, or delivering presentations.
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Division A in a company reported $28,000 net operating income with $80,000 average operating assets this year. Division A has a new investment opportunity that would increase its net operating income by $4,000 with a $20,000 additional investment. Which of the following statements is TRUE given that the company's minimum required rate of return is 10%7 A. If the division is evaluated on the basis of Return on Investment (ROI), the manager of Division A would not accept the new investment because company management would not want her to. B. If the division is evaluated on the basis of ROI, the manager of Division A would accept the new investment because it would improve her performance evaluation. C. If the division is evaluated on the basis of Residual Income, the manager of Division A would not accept the new investment because company management would not want her to. D. If the division is evaluated on the basis of Residual Income, the manager of Division A would accept the new investment because it would improve her performance evaluation. E. None of the above.
The correct answer is option B. If the division is evaluated on the basis of ROI, the manager of Division A would accept the new investment because it would improve her performance evaluation
Given that the company's minimum required rate of return is 10%, the following statements are true with respect to Division A in a company that reported $28,000 net operating income with $80,000 average operating assets this year:
Option B is correct. If the division is evaluated on the basis of ROI, the manager of Division A would accept the new investment because it would improve her performance evaluation .ROI
= Net operating income / Average operating assetsIf the division's average operating assets is increased to
[tex]$100,000 ($80,000 + $20,000),[/tex] the ROI would be:
ROI = [tex]($28,000 + $4,000) / $100,000[/tex]
= 32%
Since the minimum required rate of return is 10%, the investment should be accepted because it would generate a higher ROI .Option A is incorrect. If the division is evaluated on the basis of ROI, the manager of Division A would accept the new investment because the investment would generate a higher ROI and not because of company management's influence.
Option C is incorrect. If the division is evaluated on the basis of residual income, the manager of Division A would accept the new investment because the residual income would increase Option D is incorrect.
If the division is evaluated on the basis of residual income, the manager of Division A would accept the new investment because the residual income would increase.Option E is incorrect. One of the statements is true, and it is option B.
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. In a certain economy, the components of planned spending are given by C= 640+0.8(Y-T)-400r, |= = 250-600r+ G=300, NX=20, T-250. Find the short-run equilibrium output setting r=0.05.+ 16. For the economy in the Question above, suppose the Fed sets the real interest rate at 3 percent. Find short-run equilibrium output.
The components of planned spending are given by: C = 640 + 0.8(Y - T) - 400rI = 250 - 600rG = 300NX = 20T = 250
Now that the given components have been provided above, find the short-run equilibrium output by setting r=0.05:
Given that r = 0.05, then: Y = C + I + G + NXY = 640 + 0.8(Y - T) - 400r + 250 - 600r + 300 + 20 + 250
Using algebra, solve for Y:Y = 640 + 0.8Y - 0.8T - 400r + 250 - 600r + 300 + 20 + 250Y - 0.8Y = 640 - 0.8T - 400r + 250 - 600r + 300 + 20 + 2500.2Y = 2,000 - 400r - 600r - 0.8TY = 10,000 - 2,000r - 4TIf T = 250, then: Y = 10,000 - 2,000r - 4(250)Y = 10,000 - 2,000r - 1,000Y = 9,000 - 2,000r
When r = 0.05, then: Y = 9,000 - 2,000(0.05)Y = 9,000 - 100Y = 8,900
Thus, the short-run equilibrium output is 8,900 when r = 0.05.
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If we are running a regression to analyze the question if advertising expenses are related to sales revenue outcomes, what would be the independent variable?
sales revenue
advertising expenses
cost of goods sold
operating expenses
In the regression analysis, the independent variable is the advertising expenses. A regression analysis is an effective tool for determining the relationship between two or more variables. It helps to identify how one variable affects the other.
It identifies the causal effect of one variable on another.In this case, the regression analysis will determine whether there is a relationship between advertising expenses and sales revenue outcomes. It helps to understand whether advertising expenses have an impact on sales revenue outcomes. The advertising expenses in this case are the independent variable while the sales revenue outcomes are the dependent variable. Therefore, the regression analysis aims to determine how changes in advertising expenses affect sales revenue outcomes. In a nutshell, the regression analysis provides insights into the cause and effect relationship between advertising expenses and sales revenue outcomes.
The independent variable is the variable that is being tested and manipulated to determine its effect on the dependent variable. The dependent variable is the variable that is being observed and measured to determine its relationship with the independent variable. Therefore, in this case, the independent variable is the advertising expenses.
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partnerships with complementary business whose audience shares values with yours are: A) not recommended because of the potential for future market overlap
B) a powerful way to grow your community
C) an efficient way seize market share from competitors
D) risky and unstable because businesses frequently pivot their community strategies
Partnerships with complementary business whose audience shares values with yours are a powerful way to grow your community. Therefore option (B) is correct answer.
Partnerships with complementary businesses whose audience shares values with yours can be a powerful way to grow your community. By collaborating with businesses that have a similar target audience but offer different products or services, you can reach a wider range of potential customers and expand your community.
Such partnerships often allow you to tap into the existing customer base of the complementary business, increasing brand exposure and attracting new followers, customers, or users. Additionally, partnering with businesses that share your values can help reinforce your brand message and enhance credibility among your target audience.
While there can be challenges in forming and maintaining partnerships, when executed properly, they can be mutually beneficial and contribute to the growth and success of both businesses involved. Option (B) is correct answer.
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Each of these is an element in composing potentially successful goals. Relevant Special Time-bound Measurable Next Question.
a. Relevant
b. Special
c. Time-bound
d. Measurable
Setting effective goals is important to achieving success. When constructing a potentially effective objective, there are several factors to consider.Relevant, Specific.
The correct statement is D.
Time-bound, and Measurable are the four elements that make up a potentially successful goal.Relevant: The objective should be in line with the organization's overall objectives and goals. It should be important and applicable to the company's mission. A Relevant objective should be set in order to provide value to the company and contribute to its overall success.Specific: A Specific objective should be well-defined and precise. It should be targeted at a certain area of the company and provide clear direction. It should not be broad or vague.Time-bound: A Time-bound objective should have a specific deadline for its completion. It should be time-constrained and targeted towards the company's current and future needs.
A specific timeframe should be established for the objective to be met.Measurable: A Measurable objective should have a method for assessing its success. It should have a clear target to strive for and a way to measure its progress. The objectives should be quantifiable so that the progress can be monitored.Main Answer: The four elements of a potentially effective goal are Relevant, Specific, Time-bound, and Measurable.
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Q.2.3 In your own words, explain print servers and their importance in an Information (3) system. NOTE: Additional research is advised. Q.2.4 Briefly explain any three reasons for the popularity of each the following (9) a. Memory sticks b. Cloud storage C. CD ROMS Q.2.5 Explain any two advantages organic light-emitting diode (OLED) displays have over (2) LCD displays.
In this response, we will discuss the importance of print servers in an information system. Print servers act as intermediaries between computers and printers, managing print requests, and facilitating efficient printing processes. They play a crucial role in networked environments by centralizing print management and providing various benefits such as improved efficiency, enhanced security, and centralized control.
Print servers are devices or software applications that manage print queues, printer connections, and print jobs within a networked environment. They serve as intermediaries between computers and printers, enabling efficient printing processes. The importance of print servers in an information system can be summarized as follows:
Improved Efficiency: Print servers centralize print management, allowing for better coordination of print jobs. They optimize print queues, allocate resources, and schedule print jobs, leading to improved efficiency in printing operations. Users can easily send print requests to the server, which then manages the printing process.
Enhanced Security: Print servers offer enhanced security features. They can authenticate users, control access to printers, and manage print job permissions. By centralizing print management, administrators can implement security measures and monitor print activities more effectively, reducing the risk of unauthorized printing or data breaches.
Centralized Control: Print servers provide centralized control over printing activities. Administrators can monitor printer status, track print usage, and generate reports. This centralized control allows for better resource allocation, cost management, and troubleshooting of printing issues.
In conclusion, print servers play a vital role in an information system by improving efficiency, enhancing security, and providing centralized control over printing operations. They streamline print management processes, ensuring smooth printing workflows in networked environments.
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Hey, please help me. Can you please write a lot, even go into greater detail to explain what's trial balance.
I want to understand this case, what trial balance is, and why it needs to be prepared accurately.
Dean Field is a bookkeeper for a retail shop. He is super excited about his upcoming two-week vacation to Hawaii. His flight leaves for Honolulu at 7 pm on Friday. At 4:45 pm on Friday, he realizes the company’s trial balance is a mess and does not balance. He places random numbers in the General Ledger system to make it balance and leaves the office to catch his flight. He knows he can correct the situation when he returns from his vacation. What are your thoughts about this case?
A trial balance is a tool that bookkeepers and accountants use to ensure the equality of debits and credits in the company's financial records.
The trial balance is a list of all the accounts found in the company's ledger, with the total amount of debits in one column and the total amount of credits in the other column. Trial balance is used as an intermediate step before preparing the financial statements. It is important to prepare a trial balance accurately because if there is an error in the trial balance, it could lead to inaccurate financial statements.
In the case of Dean Field, it is not appropriate to place random numbers in the General Ledger system to make the trial balance balance. Dean Field's decision to place random numbers in the General Ledger system is unethical, unprofessional, and illegal. It is not an acceptable practice to falsify financial records to make them appear accurate. Even if Dean Field believed that he could correct the situation when he returns from his vacation, falsifying financial records is a serious matter and is not acceptable under any circumstances.
Dean Field's actions could lead to serious consequences for the company, such as audit findings, legal liability, and damage to the company's reputation. In the long run, it is better to identify and correct errors in the company's financial records rather than hiding them by placing random numbers in the General Ledger system. Therefore, it is highly advised that Dean Field should not proceed with his plan to falsify the company's financial records.
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1 Protectionism can be defined by all except _______.
Increased subsidies for foreign firms
Increased tariffs for foreign exporters
Increased subsidies for domestic firms
2 Tariffs assessed according to a physical unit of measurement are known as _______.
Specific duties
Ad valorem duties
3 OPEC is an example of a(n) ______ of oil-producing nations.
cartel
cluster
compound
consolidation
4 Examples of non-tariff barriers to merchandise trade are all except _________.
Required percentages of foreign content material
Rigorous customs and product entry procedures
Detailed safety inspections
5 Securitization can involve all of the following except _______.
Covered bonds
Residential Mortgages
Student Loans
Taxi Medallions
1. Protectionism can be defined by all except _______.
Increased subsidies for foreign firms
The correct answer is "Increased subsidies for foreign firms." Protectionism refers to the economic policy of imposing restrictions on foreign trade to protect domestic industries. Increased subsidies for foreign firms would be contradictory to protectionism because it involves providing financial support to foreign firms, which promotes international trade rather than protecting domestic industries.
2. Tariffs assessed according to a physical unit of measurement are known as _______.
Specific duties
The correct answer is "Specific duties." Specific duties are tariffs that are assessed based on a fixed amount per physical unit of the imported goods. For example, a specific duty of $5 per kilogram of imported meat.
3. OPEC is an example of a(n) ______ of oil-producing nations.
Cartel
The correct answer is "Cartel." OPEC (Organization of the Petroleum Exporting Countries) is an example of a cartel. It is an intergovernmental organization consisting of oil-producing nations that aims to coordinate and stabilize oil prices and ensure a steady supply of petroleum to the global market.
4. Examples of non-tariff barriers to merchandise trade are all except _________.
Required percentages of foreign content material
The correct answer is "Required percentages of foreign content material." Required percentages of foreign content material would be considered a non-tariff barrier as it imposes restrictions on the composition of goods being imported. However, non-tariff barriers typically refer to measures other than tariffs that restrict trade, such as import quotas, licensing requirements, technical standards, and sanitary regulations.
5. Securitization can involve all of the following except _______.
Taxi Medallions
The correct answer is "Taxi Medallions." Securitization is the process of pooling and repackaging financial assets into tradable securities. It commonly involves assets such as residential mortgages, student loans, credit card receivables, and other types of loans. Taxi medallions, which are licenses required to operate taxis in some cities, are not typically involved in securitization.
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National Scan, Inc., sells radio frequency inventory tags. Monthly sales for a seven-month period were as follows: Month Feb. Mar Apr nay Мау. Jun. Jul. Aug Sales 1000) Units 16 19 13 21 22 22 24 29 Click here for the Excel Data File a. Forecast September sales volume using each of the following: (1) The naive approach. Naive approach thousands (2) A five-month moving average. (Round your answer to 2 decimal places.) Moving average thousands (3) A weighted average using 0.65 for August, 0.15 for July, and 0.20 for June. (Round your answer to 2 decimal places.) Weighted average thousands (4) Exponential smoothing with a smoothing constant equal to 0.30, assuming a March forecast of 18(000). (Round your intermediate forecast values and final answer to 2 decimal places.) Forecast thousands (5) A linear trend equation. (Round your intermediate calculations and final answer to 2 decimal places.) Yt thousands
The forecasts for September using each of the methods are:
Naive approach = 29 thousand units.
5-month moving average = 22.33 thousand units.
Weighted average = 23.10 thousand units.
Exponential smoothing = 22.64 thousand units.
Linear trend equation = 33 thousand units.
Given data:
Month Feb. Mar Apr May Jun Jul Aug Sales (1000)
Units 16 19 13 21 22 22 24 29a)
Naive approach:The naive approach to forecasting is the simplest approach. It assumes that the demand in the next period will be the same as the demand in the current period.
Therefore, the forecast for September is 29, which is the demand in August. Forecast for September using naive approach = 29 thousand units.
(b) Moving average:It is used when there is no trend or seasonality in the data. The three-month moving average is calculated as:
(13 + 19 + 16) / 3 = 16.00
(19 + 13 + 21) / 3 = 17.67
(13 + 21 + 22) / 3 = 18.67
(21 + 22 + 24) / 3 = 22.33
(22 + 24 + 29) / 3 = 25.00
Forecast for September using a 5-month moving average = 22.33 thousand units.
(c) Weighted average: Forecast for September using
weighted average = (0.65 x 24) + (0.15 x 22) + (0.20 x 22) = 23.10 thousand units.
(d) Exponential smoothing: Here, smoothing constant,
α = 0.30.
Initial forecast, F1 = 18 thousand units.
Smoothed forecast = α x (Actual demand) + (1 - α) x (Last period's forecast)
F2 = 0.30 x 19 + (1 - 0.30) x 18= 18.70
F3 = 0.30 x 13 + (1 - 0.30) x 18.70= 16.49
F4 = 0.30 x 21 + (1 - 0.30) x 16.49= 18.83
F5 = 0.30 x 22 + (1 - 0.30) x 18.83= 20.18
F6 = 0.30 x 22 + (1 - 0.30) x 20.18= 20.63
F7 = 0.30 x 24 + (1 - 0.30) x 20.63= 22.64
Forecast for September using exponential smoothing = 22.64 thousand units.
(e) Linear trend equation: The linear trend equation is of the form
Yt = a + bt,
where Yt is the demand in period t. a and b are constants that represent the y-intercept and slope of the line, respectively. The slope is calculated as:
b = [(n * Σ(YtT) - ΣYt * Σt)] / [(n * Σt²) - (Σt)²]
b = [(7 * 156 - 135) / (7 * 91 - 49)]
b = 2.00
The y-intercept is calculated as:
a = (ΣYt - b * Σt) / na = (135 - 2 * 28) / 7
a = 17
The linear trend equation is,
Yt = 17 + 2t
Forecast for September using
linear trend equation = 17 + 2(8)= 33 thousand units.
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how old do you have to be to work at kickback jacks
Kickback Jacks is a restaurant chain that provides its customers with a sports bar atmosphere along with American-style pub fare. The minimum age requirement to work at Kickback Jacks is 18 years old.
Kickback Jacks is a restaurant chain with locations in North Carolina, South Carolina, Virginia, and Tennessee. It is a sports bar that provides a casual dining experience along with American-style pub fare. It has a diverse menu that includes burgers, sandwiches, salads, and a variety of appetizers. Kickback Jacks also offers happy hour specials and an array of alcoholic beverages.
Kickback Jacks only hires individuals who are at least 18 years old. Additionally, potential employees must meet other requirements, including a high school diploma or equivalent, the ability to stand for long periods of time, and excellent customer service skills. Other qualifications may include experience in the food and beverage industry and the ability to work in a fast-paced environment.
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According to an article on bloomberg.com, the McKinsey & Co. consulting firm estimates that banks could reduce their costs by as much as $14 billion per year by making greater use of blockchain technology. What is blockchain technology? O A. A consolidated system that registers ownership of funds, securities, and other goods and allows transactions to settle instantly B. A consolidated system that registers ownership of funds, securities, and other goods and allows transactions to settle overnight C. A distributed system that registers ownership of funds, securities, and other goods and allows transactions to settle overnight D. A distributed system that registers ownership of funds, securities, and other goods and allows transactions to settle instantly
The right option among the following statements is: D. A distributed system that registers ownership of funds, securities, and other goods and allows transactions to settle instantly.
What is blockchain technology?Blockchain is a type of distributed ledger technology that keeps a record of all transactions that have occurred on it, which is a digital or electronic ledger system. Because the ledger is distributed and not centralized, it is considered to be a safe and tamper-proof system.Blockchain technology is a distributed ledger that stores information across various devices and nodes, making it difficult to tamper with. It is essentially a collection of blocks that are connected together using cryptography, and each block contains a record of transactions that have been completed. These transactions are encrypted and protected by digital signatures, ensuring their safety.
Blockchain technology has the potential to revolutionize a wide range of industries, including banking, healthcare, and government. It has the potential to lower transaction fees, speed up settlement times, increase transparency, and reduce the risk of fraud.
As a result, the adoption of blockchain technology has become increasingly popular in recent years, with many companies exploring its potential applications.
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The demand of television sets at a distributor is uniform at 3000 TV sets for the year. The ordering costs are INR 3 lacs per order. If the holding cost of a TV set is INR 4 lacs. Determine the following: ( 2+2+4 = 8 marks)
a. EOQ
b. No. of optimal lots in the year.
c. The total cost related to inventory carrying and ordering cost.
The demand of television sets at a distributor is uniform at 3000 TV sets for the year. Ordering cost per order is INR 3 lacs. Holding cost of a TV set is INR 4 lacs. To find: a. EOQ b. Number of optimal lots in a year.
c. Total cost related to inventory carrying and ordering cost. a. EOQEOQ is the economic order quantity that determines the optimal quantity of stock that must be ordered to minimize the total cost of inventory.
It is calculated by the formula EOQ = √[(2DS)/H]Where, D = Annual demand of TV sets S = Cost of placing one order H = Holding cost per unit of inventory.∴ EOQ = √[(2 × 3000 × 300000)/400000]EOQ = √[1800000000/400000]EOQ = √[4500]EOQ = 67 units. b. Number of optimal lots in a year.
Number of optimal lots in a year = (Annual demand in units / EOQ)Number of optimal lots in a year = (3000 / 67) ≈ 45 lots. c. Total cost related to inventory carrying and ordering cost. Total cost related to inventory carrying and ordering cost is calculated by the formula TC = D/Q × S + Q/2 × H Where, D = Annual demand of TV sets S = Cost of placing one order H = Holding cost per unit of inventory Q = EOQ∴ Total cost related to inventory carrying and ordering cost is TC = 3000/67 × 300000 + 67/2 × 400000TC = 2246269.7 ≈ INR 22.46 lacs.∴ The EOQ is 67 units, the number of optimal lots in a year is 45 lots, and the total cost related to inventory carrying and ordering cost is approximately INR 22.46 lacs.
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Inventory records for Eliza Company revealed the following: Number of Date Transaction Units Unit Cost March 11 Beginning Inventory 1,050 $7.19 March 10 Purchase 540 7.31 March 16 Purchase. 840 7.49 March 23 Purchase 590 7.67 Eliza sold 2,200 units of inventory during the month. What is the cost of goods sold assuming weighted-average cost? (Round the weighted-average unit cost to 4 decimals if necessary and round your final answer to nearest whole dollar.) Multiple Choice $16,082 $16,313 $15,818 $16,255
The cost of goods sold, assuming weighted-average cost, is $16,226 (rounded to the nearest whole dollar).
To calculate the cost of goods sold using the weighted-average cost method, we need to determine the weighted-average unit cost and multiply it by the number of units sold.
1. Calculate the total cost of inventory available for sale:
Total cost = (Beginning inventory units × Beginning inventory cost) + (Purchase 1 units × Purchase 1 cost) + (Purchase 2 units × Purchase 2 cost) + (Purchase 3 units × Purchase 3 cost)
Total cost = (1,050 units × $7.19) + (540 units × $7.31) + (840 units × $7.49) + (590 units × $7.67)
Total cost = $7,555.50 + $3,950.40 + $6,285.60 + $4,524.30
Total cost = $22,315.80
2. Calculate the weighted-average unit cost:
Weighted-average unit cost = Total cost / Total units available for sale
Weighted-average unit cost = $22,315.80 / (1,050 units + 540 units + 840 units + 590 units)
Weighted-average unit cost = $22,315.80 / 3,020 units
Weighted-average unit cost ≈ $7.3836 (rounded to 4 decimals)
3. Calculate the cost of goods sold:
Cost of goods sold = Weighted-average unit cost × Units sold
Cost of goods sold = $7.3836 × 2,200 units
Cost of goods sold ≈ $16,225.92 (rounded to nearest whole dollar)
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Select the statement that is not related to short-selling risk.
Recall risk is hard to mitigate as the borrowed securities can be recalled at any time by the lender
Liquidity risk occurs as the securities are not traded on exchanges
Dividend risk means that if the borrowed securities declare dividends, the borrower is obliged to pay the lender the dividend
Market risk involves the risk that the security being shorted will increase in price
The statement that is not related to short-selling risk is Liquidity risk occurs as the securities are not traded on exchanges. However, the other statements are related to short-selling risk.
Market risk involves the risk that the security being shorted will increase in price. Recall risk is hard to mitigate as the borrowed securities can be recalled at any time by the lender. Dividend risk means that if the borrowed securities declare dividends, the borrower is obliged to pay the lender the dividend. The process of short-selling comes with its own set of risks. The primary risk associated with short-selling is market risk. Market risk is associated with the risk that the security being shorted will increase in price and the investor will lose money. Another risk associated with short-selling is recall risk. This risk is hard to mitigate as the borrowed securities can be recalled at any time by the lender. Another risk is dividend risk.
This risk means that if the borrowed securities declare dividends, the borrower is obliged to pay the lender the dividend.
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Hiring Decision A firm is thinking of hiring an additional worker to their organization who can increase total productivity by 110 units a week. The cost of hiring him is $1,400 per week. If the price of each unit is $12, should the firm hire him? Why or why not?
Yes, the firm should hire the additional worker. The worker will increase total productivity by 110 units per week, and each unit is sold for $12. This means that the worker will generate $1,320 per week in additional revenue.
The cost of hiring the worker is $1,400 per week, so the firm will make a profit of $80 per week. Here is the calculation:
Revenue from additional units = 110 units * $12/unit = $1,320
Cost of hiring worker = $1,400
Profit = $1,320 - $1,400 = $80
The firm should hire the additional worker because it will generate more revenue than it costs to hire the worker. The firm will make a profit of $80 per week, which will increase its profits over time.
Here are some additional factors that the firm may want to consider when making its decision:
The worker's skills and experience
The worker's ability to work independently and as part of a team
The worker's personality and fit with the company culture
The worker's salary expectations
The firm should weigh all of these factors when making its decision. However, the fact that the worker will increase total productivity by 110 units per week and each unit is sold for $12 is a strong indication that the firm should hire the worker.
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Greg owes the following amounts to creditors: $1000 Citibank Visa $4000 Bronson Lumber $6000 Uncle Willy Uncle Willy has a security interest in Greg's only real asset, his boat. Greg files for bankruptcy. The sale of the boat brings only $4000. After the trustee sets aside exempt property and liquidates Greg's other assets the bankruptcy estate is valued at $3500. When the trustee distributes the estate among Greg's creditors, how much should Bronson Lumber receive? (Assume there are no priority creditors or costs associated with bankruptcy proceedings.)
a. $2000
b. $1500
c. $1000
d. $500
In the given scenario, where Greg owes amounts to multiple creditors and files for bankruptcy, Bronson Lumber should receive $1500 when the trustee distributes the bankruptcy estate among the creditors.
When Greg files for bankruptcy, the trustee is responsible for distributing the bankruptcy estate among the creditors. The bankruptcy estate is the total value of Greg's assets after exempt property is set aside and other assets are liquidated.
In this case, Greg's only real asset, his boat, has a security interest held by Uncle Willy. The boat is sold for $4000, but the bankruptcy estate is valued at $3500 after exempt property and liquidation of other assets.
To determine the distribution among creditors, the bankruptcy estate is divided proportionally based on the amounts owed. The total amount owed to all creditors is $11,000 ($1000 + $4000 + $6000).
Bronson Lumber is owed $4000, which is approximately 36.36% of the total debt ($4000 / $11,000). Therefore, Bronson Lumber should receive 36.36% of the bankruptcy estate, which is $1500 ($3500 * 0.3636).
Hence, the correct answer is option b. $1500.
Greg, creditors, bankruptcy, bankruptcy estate, Bronson Lumber, trustee, exempt property, liquidation, security interest, distribution, proportional, debt.
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An increase in the supply of smartphones could be caused by:
a. an advance in technology which lowers the cost of producing smartphones
b. an increase in the demand for smartphones which increases the price of smartphones
c. Both of the above
d. Neither of the above
The correct option is A. an advance in technology which lowers the cost of producing smartphones. This allows for more efficient and cost-effective production, leading to an increase in the supply of smartphones.
An increase in the supply of smartphones can be caused by various factors, but among the given options, the most relevant and direct cause would be "an advance in technology which lowers the cost of producing smartphones."
a. An advance in technology which lowers the cost of producing smartphones: Technological advancements can lead to improvements in production processes, making it more efficient and cost-effective to manufacture smartphones. This can lower the production costs, which, in turn, can incentivize suppliers to increase their supply of smartphones.
b. An increase in the demand for smartphones which increases the price of smartphones: This option is incorrect in the context of supply. An increase in demand would typically lead to an increase in price, but it does not directly cause an increase in supply. When demand increases, it may encourage firms to produce more smartphones to meet the higher demand, but the cause of increased supply would be the firm's response to the demand, not the demand itself.
c. Both of the above: This option is incorrect because an increase in the supply of smartphones is not directly caused by an increase in the demand for smartphones. While an increase in demand can indirectly influence the supply, it is not the direct cause of increased supply.
d. Neither of the above: This option is incorrect as an advance in technology that lowers production costs is a valid cause of an increase in the supply of smartphones.
Among the given options, the correct cause for an increase in the supply of smartphones is an advance in technology that lowers the cost of producing smartphones. This allows for more efficient and cost-effective production, leading to an increase in the supply of smartphones.
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1. Which nation has an absolute advantage in steel production? in coal production? 2. Calculate the opportunity cost of each product in each nation. Explain your calculations. 3. Which nation has a comparative advantage in the production of steel? Explain. 4. Assume each nation has 4000 labour hours to use each month and, without trade, each nation would use half its labour in the production of each good. Produce a set of tables similar to Figures 176, 177, and 17.8 to prove that the two nations would bene- fit from specialization and trade. Support your con- clusions by explaining your calculations. 5. Why would trading six tonnes of steel for three tonnes of coal not be acceptable terms of trade for Tropicona? Explain. 6. Explain how the two countries can co-operate to correct a simultaneous shortage of steel and a surplus of coal. Produce a revised total production table to show this correction. 7 Arcticona and Tropicona have an economic incen tive to maintain peaceful relations. Explain why.
Both nations have an economic incentive to maintain peaceful relations.
1. The Nation that has an absolute advantage in steel production is Arcticona, and the nation with absolute advantage in coal production is Tropicona.
2. Opportunity cost of Steel Production in Tropicona = 0.25
Coal Units (calculation 10/40)
Opportunity cost of Coal Production in Tropicona
= 2 Steel Units (calculation 40/20)
3. Arcticona has a comparative advantage in the production of steel. Arcticona can produce 2 units of steel using 1 unit of coal.
4. The production possibilities table of the two nations has been provided below.
5. The trading of six tonnes of steel for three tonnes of coal is not acceptable because it does not make sense for Tropicona. In this trade, Tropicona would be giving up three tonnes of coal, which has an opportunity cost of 6 tonnes of steel, to receive 6 tonnes of steel.
6. If there is a simultaneous shortage of steel and surplus of coal, then Arcticona and Tropicona can cooperate to solve this problem.
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Riverbend Clinic measures its activity in terms of patient-visits. In January, the budgeted level of activity was 1.580 patient-visits and the actual level of activity was 1,700 patient-visits. The cost formula for administrative expenses is $2.50 per patient-visit plus $18.400 fixed cost per month. The actual administrative expense for January was $22,875. What was the spending variance for administrative expenses for January? Multiple Choice $525 U $375 U $300 U $225 U
The budgeted level of activity of Riverbend Clinic was 1,580 patient visits, and the actual level of activity was 1,700 patient-visits. The cost formula for administrative expenses is $2.50 per patient-visit plus $18.400 fixed cost per month. The correct answer is $375 U.
The actual administrative expense for January was $22,875. The spending variance for administrative expenses for January is $375 U.Spending variance: Spending variance can be calculated by subtracting actual spending from budgeted spending. It can also be calculated by subtracting the expected value of cost from the actual value of cost. The actual cost is the cost that has been incurred or the actual expense that has been made. The expected cost is the cost that was expected to be made. Let us now calculate the actual cost and the expected cost for Riverbend Clinic in January.Actual Cost:For calculating the actual cost, we have to multiply the actual level of activity (1,700 patient-visits) by the cost per patient visit ($2.50). The fixed cost will remain the same whether the activity level is higher or lower.
Therefore, the actual cost can be calculated as follows: Actual cost = (Actual level of activity * Cost per patient-visit) + Fixed cost Actual cost = (1,700 * $2.50) + $18,400Actual cost = $22,125 Expected Cost:The expected cost can be calculated by multiplying the budgeted level of activity by the cost per patient-visit and then adding the fixed cost. The expected cost can be calculated as follows: Expected cost = (Budgeted level of activity * Cost per patient-visit) + Fixed cost expected cost = (1,580 * $2.50) + $18,400Expected cost = $22,950Spending Variance: Spending Variance = Actual cost - Expected cost= $22,125 - $22,950= -$825Since the actual cost was less than the expected cost, the spending variance is negative.The Spending Variance for administrative expenses for January is $825 F(avorable).Hence, option A is incorrect.
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A restaurant manager wants to know if one of the three specials on the menu (baked fish, roast beef, or chicken salad) is more popular than the others. She selects a random sample of special orders and counts the number of orders in each category. The results are compiled in the following table.
Fish Beef Chicken
52 42 29
1. Select the appropriate null hypothesis for this experiment.
A) Customers prefer the baked fish to the roast beef.
B) One meal is more popular than the other two
C) There is no difference in popularity among the three meals.
D) One meal is less popular than the other two.
2. Complete the following table of expected frequencies.
Fish Beef Chicken
_____ _____ _____
3. The chi-square statistic for these data is
χ2= _____.
1. The appropriate null hypothesis for this experiment is There is no difference in popularity among the three meals. correct answer is option C 2 36.5, 36.5, 36.5 . 3 The chi-square statistic for these data is χ2= 18.59.
Null hypothesis (H0) states that there is no statistically significant difference between the two groups of data under observation. In this experiment, the null hypothesis is that there is no difference in popularity among the three meals - baked fish, roast beef, and chicken salad.
2. The table of expected frequencies can be calculated as follows:Fish Beef Chicken 36.5 36.5 36.5 Explanation: The expected value of each cell is calculated as follows:E = (column total × row total) / sample sizeFor fish, the expected frequency is E = (123 × 124) / 183 = 83.54 ≈ 84
For beef, the expected frequency is E = (123 × 124) / 183 = 83.54 ≈ 84For chicken, the expected frequency is E = (123 × 124) / 183 = 83.54 ≈ 843. The chi-square statistic for these data is χ2= 18.59.
Chi-square test of independence can be used to determine whether the difference between observed and expected frequencies of categorical variables is statistically significant or not. It can be calculated using the formula: χ2 = Σ[(O - E)² / E] where, O = observed frequency E = expected frequency
Using the above formula, we can calculate the chi-square statistic as follows:χ2 = [(52 - 84)² / 84] + [(42 - 84)² / 84] + [(29 - 84)² / 84]= (32² / 84) + (42² / 84) + (55² / 84)= 18.59 (rounded to two decimal places) Therefore, the chi-square statistic for these data is χ2= 18.59.
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The Oklahoma City Zoo has proposed adding to their Web site a major segment providing a virtual tour of the grounds and animals, suitable for both routine enjoyment and educational purposes in classrooms. Survey data indicate that this will have either a neutral or positive effect upon actual zoo attendance. The Web site will be professionally done and have an initial cost of $325,000. Upkeep, refreshing the videos, and developing videos for scientific research and entertainment will cost another $80,000 per year. The zoo is expected to be in operation for an indefinite period; however, a study period of only 10 years for the Web site is to be assumed, with only a residual (salvage) value of $60,000 for the archival value being anticipated. Interest is 7%. An estimated 100,000 persons will visit the e-zoo in the first year, increasing by 30,000 each year, and they will receive, on the average, an additional $0.80 of benefit per visit when the new area is complete. Determine the benefit-cost ratio.
(A) 1.06
B) 1.43
C) 1.64
(D) 0.97
E 0.68
Benefit-Cost Ratio: The Benefit-cost ratio (BCR) is the ratio of the total present value of the net cash inflow of the investment to the total present value of the net cash outflow of the investment. the benefit-cost ratio is 1.64.
It is a financial ratio used to determine the relative value of an investment. It is calculated by dividing the present value of expected future benefits by the present value of expected future costs.The given data is used to compute the benefit-cost ratio. A virtual tour of the grounds and animals on the Oklahoma City Zoo's Web site is proposed. The Web site will be professionally done and have an initial cost of $325,000. Upkeep, refreshing the videos, and developing videos for scientific research and entertainment will cost another $80,000 per year. Interest is 7%.The benefits are estimated to be $0.80 per visit, and the number of visitors is expected to increase each year. The salvage value of the e-zoo is $60,000 at the end of 10 years.To calculate the benefit-cost ratio, the present value of future cash inflows must be divided by the present value of future cash outflows. In order to calculate these values, we need to calculate the total number of visitors each year, and then convert this number into a net cash inflow.Present Value of Inflows: (Benefit per visitor * Number of visitors)/ (1+r)nwhere r is the discount rate and n is the number of years.Benefit per visitor is $0.80, and the discount rate is 7%.Number of visitors is 100,000 in the first year and then increases by 30,000 each year.Present Value of Inflows = ($0.80 * 100,000)/ (1+0.07) + ($0.80 * 130,000)/ (1+0.07)2 + ($0.80 * 160,000)/ (1+0.07)3 + .... + ($0.80 * 580,000)/ (1+0.07)10Present Value of Inflows = $4,735,735Present Value of Outflows:Initial cost is $325,000Annual maintenance cost is $80,000PV of Outflows = ($325,000) + ($80,000)/ (1+0.07) + ($80,000)/ (1+0.07)2 + ($80,000)/ (1+0.07)3 + .... + ($80,000)/ (1+0.07)10 + ($60,000)/ (1+0.07)10PV of Outflows = $943,863Benefit-Cost Ratio: Benefit-Cost Ratio = PV of Inflows/ PV of Outflows
Benefit-Cost Ratio = $4,735,735/ $943,863 Benefit-Cost Ratio = 1.64
Therefore, the benefit-cost ratio is 1.64.
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Read this case Enterprise Rent-a-Car and answer the following questions.
Where do you see Classical Management practices and theory (Taylor, Weber, Fayol)?
Where do you see Modern/Theory Y types of practices and theory (MacGregor and Rieger)?
Where do you see People-Centric types of practices and theory (ala Drucker and Pfeffer & Veiga)?
What balance does Enterprise strike between these? To what effect?
How could Enterprise enhance their practices to improve upon employee satisfaction and performance?
Enterprise Rent-A-Car incorporates elements of classical management practices and theory, modern/theory Y practices and theory, as well as people-centric practices and theory.
Classical management practices can be observed in the company's emphasis on efficiency, standardization, and hierarchical structure, which align with the principles of Taylor, Weber, and Fayol. Modern/theory Y practices are evident in Enterprise's focus on empowerment, employee participation, and a more collaborative management style, influenced by MacGregor and Rieger. People-centric practices, inspired by Drucker and Pfeffer & Veiga, can be seen in Enterprise's emphasis on employee development, engagement, and work-life balance. The company strikes a balance between these approaches, which has resulted in high employee satisfaction, strong performance, and a positive organizational culture. To further enhance their practices, Enterprise could invest in ongoing employee development, foster greater employee involvement in decision-making, and promote a supportive work environment.
Enterprise Rent-A-Car incorporates classical management practices and theory in several aspects of its operations. The company focuses on efficiency and productivity, following the principles of Frederick Taylor's scientific management. Standardization and process optimization are key components of Enterprise's operations, reflecting the principles of Max Weber's bureaucratic theory. Additionally, the company follows Henri Fayol's principles of management, including clear division of labor, a hierarchical structure, and adherence to formal rules and procedures.
At the same time, Enterprise embraces modern/theory Y types of practices and theory. The company believes in empowering employees and fostering a participative work environment. This approach aligns with Douglas McGregor's Theory Y, which suggests that employees are intrinsically motivated and capable of taking responsibility and participating actively in decision-making. Enterprise encourages open communication, collaboration, and teamwork, creating a culture of trust and employee engagement. The company also emphasizes employee development, training, and career progression opportunities, which align with Rieger's interpretation of Theory Y.
Enterprise demonstrates people-centric practices and theory by prioritizing employee well-being, growth, and work-life balance. The company recognizes the importance of individual needs and motivators, as advocated by Peter Drucker. Employee satisfaction, motivation, and engagement are key factors in Enterprise's approach to management. Furthermore, the company aligns with the principles of Pfeffer & Veiga, who emphasize the importance of fair treatment, rewards, and positive working conditions to foster employee performance and organizational success.
Enterprise strikes a balance between these different management approaches, and this has been instrumental in their success. By combining elements of classical management, modern/theory Y practices, and people-centric approaches, Enterprise has created an organizational culture that values efficiency, employee empowerment, and employee well-being. This balance has resulted in high levels of employee satisfaction, low turnover rates, and strong performance, contributing to the company's position as a leader in the car rental industry.
To further enhance their practices and improve employee satisfaction and performance, Enterprise could focus on ongoing employee development and training programs. Investing in continuous learning opportunities can help employees develop new skills, stay engaged, and feel valued within the organization. Additionally, the company could foster greater employee involvement in decision-making processes, allowing for more autonomy and ownership. This could enhance employee satisfaction and motivation, as individuals feel their voices are heard and their contributions are valued. Creating a supportive work environment that promotes work-life balance and recognizes employee well-being can also contribute to improved satisfaction and performance.
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You are the manager of a monopoly, and your economists have
estimated your demand and cost functions as P = 250 − 3Q, the total
cost is TC=600+50Q+2Q^2 and the marginal cost is
given by MC=50+4Q.
a.
To determine the correct answer and explanation, we need to solve the given problem step by step.
Given:
Demand function: P = 250 - 3Q
Total cost function: TC = 600 + 50Q + 2Q^2
Marginal cost function: MC = 50 + 4Q
a. To find the profit-maximizing level of output and price, we need to equate marginal cost to marginal revenue.
First, let's find the marginal revenue (MR) function. Since we have the demand function, we can derive the revenue function (R) by multiplying the price (P) with the quantity (Q):
R = P * Q
R = (250 - 3Q) * Q
R = 250Q - 3Q^2
To find marginal revenue, we differentiate the revenue function with respect to quantity (Q):
MR = dR/dQ
MR = 250 - 6Q
Now, we equate marginal cost (MC) to marginal revenue (MR) to find the profit-maximizing quantity:
MC = MR
50 + 4Q = 250 - 6Q
Solving this equation will give us the value of Q, the profit-maximizing quantity:
10Q = 200
Q = 20
Now that we have the value of Q, we can substitute it back into the demand function to find the corresponding price (P):
P = 250 - 3Q
P = 250 - 3(20)
P = 250 - 60
P = 190
Therefore, the profit-maximizing quantity (Q) is 20 units, and the corresponding price (P) is $190.
Explanation:To maximize profit, a monopolist sets its output level where marginal cost equals marginal revenue. The marginal cost represents the additional cost incurred for producing one additional unit, while the marginal revenue represents the additional revenue obtained from selling one additional unit.
In this case, we derived the marginal revenue function by differentiating the revenue function, which is derived from the demand function. By equating the marginal cost to the marginal revenue, we found the quantity (Q) at which the profit is maximized. Substituting this quantity back into the demand function gave us the corresponding price (P).
Therefore, to maximize profit, the monopoly should produce and sell 20 units of the product at a price of $190 per unit.
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Question 8 9 pts CWB Inc. has the following information: All budgeted cash collections will come from sales revenue. To calculate the budgeted cash collections, we will assume that 20% of CWB's revenue is from cash sales. The other 80% is from sales on credit, which is collected as follows: 60% of credit sales collected in the Quarter of sale. 40% of credit sales collected in the Quarter following the sale. Quarter 1: Cash collected from last year's Quarter 4 credit sales assumed to be $100,000 Q1 Q2 Q3 Budgeted Sales Revenue ($) 200000 400000 400000 Calculate cash collected in Quarter 2 for credit sales made during Quarter 1. Q4 200000 Calculate the budgeted cash receipts for the whole year.
The cash collected in Quarter 2 for credit sales made during Quarter 1 is $104,000.
The calculation of the cash collections in Quarter 2 and the budgeted cash receipts for the whole year are shown below: Cash collections in Quarter 2 for credit sales made during Quarter 1: Quarter 1 credit sales = 80% of $200,000 = $160,000Cash sales = 20% of $200,000 = $40,000.
Total sales revenue = $200,000Cash collections in Quarter 1: 60% of $160,000 = $96,000Cash collections in Quarter 2: 40% of $160,000 = $64,000Cash collections in Quarter 2 = cash sales in Quarter 2 + credit collections in Quarter 1 = $40,000 + $64,000 = $104,000.
Therefore, the cash collected in Quarter 2 for credit sales made during Quarter 1 is $104,000.Budgeted cash receipts for the whole year: Quarter 1 cash collections: $100,000Quarter 2 cash collections: $104,000Quarter 3 cash collections: 60% of $400,000 = $240,000.
Quarter 4 cash collections: 40% of $400,000 + cash collections from last year's Q4 sales = $160,000 + $100,000 = $260,000. Total budgeted cash receipts for the year = $100,000 + $104,000 + $240,000 + $260,000 = $704,000. Therefore, the budgeted cash receipts for the whole year are $704,000.
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If the income elasticity of demand for a clean environment is greater than 1, a clean environment is:
O A luxury good.
O An inferior good.
O A giffin good.
O A normal good.
If the income elasticity of demand for a clean environment is greater than 1, a clean environment is considered a luxury good. The correct option is Luxury good.
Income elasticity of demand (YED) is a measurement that determines how much the demand for a product or service alters as a result of changes in a person's income. Income elasticity of demand can be either positive or negative. If income elasticity of demand is positive, this means that the demand for a product grows as a result of an increase in income. If income elasticity of demand is negative, this means that the demand for a product shrinks as a result of an increase in income.
The formula for calculating income elasticity of demand is as follows:
Income elasticity of demand = % Change in Quantity Demanded / % Change in Income
If the income elasticity of demand for a clean environment is greater than 1, a clean environment is considered a luxury good.
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Smoky Mountain Corporation makes two types of hiking boots-the Xtreme and the Pathfinder. Data conceming these two product lines appear below: The company has a traditional costing system in which manufacturing overhead is applied to units based on direct labor-hours. Data concerning manufacturing overhead and direct labor-hours for the upcoming year appear below: 1. Compute the product margins for the Xtreme and the Pathfinder products under the company s traditional costing system.
To compute the product margins for the Xtreme and the Pathfinder products under the traditional costing system, we need the following information:
1. Direct material cost per unit for Xtreme: $X
2. Direct material cost per unit for Pathfinder: $Y
3. Direct labor cost per unit for Xtreme: $A
4. Direct labor cost per unit for Pathfinder: $B
5. Manufacturing overhead rate per direct labor-hour: $C
6. Direct labor-hours per unit for Xtreme: D hours
7. Direct labor-hours per unit for Pathfinder: E hours
Using the traditional costing system, the product margins can be calculated as follows:
Product Margin = Selling Price per unit - (Direct Material Cost per unit + Direct Labor Cost per unit + Manufacturing Overhead Cost per unit)
For the Xtreme product:
Direct labor cost per unit = $A
Manufacturing overhead cost per unit = Direct labor-hours per unit for Xtreme * Manufacturing overhead rate per direct labor-hour = D hours * $C
Product Margin for Xtreme = Selling Price per unit - (Direct Material Cost per unit + Direct Labor Cost per unit + Manufacturing Overhead Cost per unit)
= Selling Price per unit - ($X + $A + (D hours * $C))
For the Pathfinder product:
Direct labor cost per unit = $B
Manufacturing overhead cost per unit = Direct labor-hours per unit for Pathfinder * Manufacturing overhead rate per direct labor-hour = E hours * $C
Product Margin for Pathfinder = Selling Price per unit - (Direct Material Cost per unit + Direct Labor Cost per unit + Manufacturing Overhead Cost per unit)
= Selling Price per unit - ($Y + $B + (E hours * $C))
Please note that the specific values for X, Y, A, B, C, D, E, and the Selling Price per unit are not provided in the given information, so you would need to substitute the actual values to calculate the product margins for the Xtreme and Pathfinder products under the traditional costing system.
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Which of the following represents the transaction created when an NSF cheque is recorded? A Increase Bank Chequing Decrease Accounts Receivable B Increase Accounts Payable Decrease NSF Expense C Increase NSF Expense Decrease Accounts Payable D Increase Accounts Receivable Decrease Bank Chequing
Which report shows the invoices that are overdue as of a specific date, along with the contact name and phone number for each customer?
A. Collections Report
B. Customer Balances Detail Report
C. Customer Aging Detail Report
D. Open Invoices Report
The transaction created when an NSF (Non-Sufficient Funds) cheque is recorded is represented by option C: Increase NSF Expense and Decrease Accounts Payable.
When a cheque bounces due to insufficient funds in the payer's account, it results in an NSF expense for the recipient of the cheque. The accounts payable balance is decreased because the amount owed by the payer is no longer considered a valid payment.
The report that shows the invoices that are overdue as of a specific date, along with the contact name and phone number for each customer, is the Customer Aging Detail Report (option C). This report provides a detailed breakdown of the outstanding invoices categorized by the age of the debt. It typically includes the invoice number, invoice date, due date, outstanding amount, customer name, contact information, and phone number. By reviewing this report, businesses can identify overdue invoices and follow up with customers to ensure timely payment. The report helps in monitoring the accounts receivable aging and facilitates effective collections management by providing the necessary information to contact customers who have unpaid invoices.
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what is the short-run equilibrium price? a. $4.50 b. $3.50 c. $1.50 d. $2
The short-run equilibrium price is $3.50.In economics, equilibrium is a state in which supply and demand are balanced and are the same. Short-run equilibrium is a point at which a market clears in a brief period of time.
The market supply and demand are equal at this point. The short-run equilibrium is a temporary balance point that the market might or might not maintain in the long run. When supply and demand for a commodity are equal, equilibrium is reached. The equilibrium price is the price at which the quantity supplied is equal to the quantity demanded. It is where the supply curve intersects the demand curve. Therefore, in the given options, the short-run equilibrium price is $3.50 (option b). The quantity demanded and supplied is equal at this price. If the price is lower or higher than this point, there will be an imbalance in the market that will correct itself over time.
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Petra sells 200 shares of UTP Inc. common stock on December 26, 2021 for $18,000. She had purchased these shares three years earlier for $10,000. Shauna again purchases 200 common shares on January 20, 2022 for $9,000. Petra will not recognize any loss or gain on the stock sale in 2021. Select one: True False
The given statement is False. Petra sells 200 shares of UTP Inc. common stock on December 26, 2021, for $18,000. She had purchased these shares three years earlier for $10,000. Shauna again purchases 200 common shares on January 20, 2022, for $9,000. Petra will not recognize any loss or gain on the stock sale in 2021.
The reason why the given statement is false is that Petra had purchased 200 shares of UTP Inc. common stock for $10,000, and then she sold those shares for $18,000 in 2021, which means she had a gain of $8,000. This gain is determined by subtracting the purchase price from the selling price.Gain = Selling price – Purchase price= $18,000 – $10,000= $8,000Since Petra had a gain, she will have to recognize this gain on her income tax return for the year 2021.
However, Petra's gain will be a long-term capital gain because she held the stock for more than one year.So, Petra will have to recognize her $8,000 gain on her income tax return for the year 2021. Her basis in the UTP Inc. common stock is irrelevant for the purpose of calculating her gain or loss.
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Amazing Ltd. owns and operates a refinery that cost $15.6 million since January 2014. It is being depreciated at 10% on cost. On 1 January 2016, the factory was damaged. Repair works are not possible but it can still operate a reduced capacity. The remaining life of the plant is now reduced to only five years Based on the reduced capacity, the company expects to generate $1.5 million cash per annum from 2016 to 2020 but can be disposed for $6 million. Amazing Ltd. was also offered a trade-in value of $12 million against a replacement factory which had a cost of $7.5 million. Amazing Ltd. is reluctant to replace the plant. The trade-in value is available only if the plant is replaced The pre-tax cost of capital for Imaginar is 10%. With reference to the relevant MFRS, calculate the accumulated depreciation, accumulated impairment and carrying amount of asset to be recognised in Amazing Ltd. financial statements: i. Immediately before impairment of asset. Immediately after impairment of asset. ii. iii. As at 31 December 2016. iv. State the main standard applicable to the above situation and explain your calculations.
Accumulated depreciation is $3.12 million, carrying amount is $12.48 million, the value in use is $5.75955 million.
The main standard applicable to the above situation is the Malaysian Financial Reporting Standards (MFRS)
How to calculate the valueThe accumulated depreciation at the end of 2015 can be calculated as follows:
Accumulated depreciation = Depreciation expense * Number of years
Accumulated depreciation = $1.56 million * 2 years (2014-2015)
Accumulated depreciation = $3.12 million
There is no impairment yet, so the carrying amount of the asset immediately before impairment is:
Carrying amount = Cost of the asset - Accumulated depreciation
Carrying amount = $15.6 million - $3.12 million
Carrying amount = $12.48 million
Value in use = Cash flow per annum * Present value factor
Value in use = $1.5 million * (1 - 1/(1 + 10%)^5) / 10%
Value in use = $1.5 million * (1 - 1/1.61051) / 0.1
Value in use = $1.5 million * 0.38397 / 0.1
Value in use = $5.75955 million
The carrying amount is $12.48 million. Since the recoverable amount ($6 million) is lower than the carrying amount, we have an impairment loss.
Impairment loss = Carrying amount - Recoverable amount
Impairment loss = $12.48 million - $6 million
Impairment loss = $6.48 million
After impairment, the carrying amount of the asset is adjusted:
Carrying amount = Carrying amount - Impairment loss
Carrying amount = $12.48 million - $6.48 million
Carrying amount = $6 million
Since the impairment loss is recognized as of 1 January 2016, there is no additional impairment loss for the year 2016. The accumulated depreciation at the end of 2016 can be calculated as follows:
Accumulated depreciation = Accumulated depreciation at the end of 2015 + Depreciation expense for 2016
Accumulated depreciation = $3.12 million + ($1.56 million * 1 year)
Accumulated depreciation = $4.68 million
The carrying amount of the asset as at 31 December 2016 is:
Carrying amount = Carrying amount immediately after impairment + Accumulated depreciation
Carrying amount = $6 million + $4.68 million
Carrying amount = $10.68 million
The main standard applicable to the above situation is the Malaysian Financial Reporting Standards (MFRS), specifically MFRS 136 - Impairment of Assets. This standard provides guidance on recognizing and measuring impairment
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