Essential human resources management practices include recruitment and selection, training and development, performance management, compensation and benefits, and employee relations.
Recruitment and selection involve attracting and hiring the right candidates for job positions. By ensuring the organization has skilled and qualified individuals, it increases the chances of success.
Training and development help employees enhance their skills and knowledge, ensuring they are equipped to perform their jobs effectively. This contributes to the success of an organization by improving productivity and employee satisfaction.
Performance management involves setting goals, providing feedback, and evaluating employee performance. It helps identify strengths and areas for improvement, leading to higher performance levels and overall success.
Compensation and benefits refer to the rewards and benefits provided to employees. Competitive compensation packages attract and retain talented individuals, promoting employee loyalty and engagement.
Employee relations focus on creating a positive work environment, addressing conflicts, and fostering effective communication. By maintaining good relationships between employees and management, it boosts morale and productivity.
Overall, these human resources management practices contribute to an organization's success by ensuring a skilled workforce, fostering employee growth and satisfaction, optimizing performance, attracting top talent, and promoting a positive work environment.
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Ayayai Construction Company has entered into a contract beginning January 1, 2017, to build a parking complex. It has been estimated that the complex will cost $600,000 and will take 3 years to construct. The complex will be billed to the purchasing company at $901,000. The following data pertain to the construction period. Costs to date Estimated costs to complete Progress billings to date Cash collected to date 2017 $246,000 354,000 270,000 240,000 2018 $432,000 168,000 546,000 496,000 2019 $612,000 -0- 901,000 901,000 (a) Using the percentage-of-completion method, compute the estimated gross profit that would be recognized during each year of the construction period. (If answer is 0, please enter 0. Do not leave any fields blank.) Gross profit recognized in 2017 A Gross profit recognized in 2018 A Gross profit recognized in 2019 A (b) Using the completed-contract method, compute the estimated gross profit that would be recognized during each year of the construction period. (If answer is 0, please enter 0. Do not leave any fields blank.) Gross profit recognized in 2017 & 0 Gross profit recognized in 2018 ! 0 Gross profit recognized in 2019 0
(a) Using the percentage-of-completion method:
Gross profit recognized in 2017: $270,000 - (($246,000 / $600,000) x $270,000) = $105,900
Gross profit recognized in 2018: $496,000 - (($246,000 + $432,000) / $600,000 x ($496,000 - $270,000)) = $103,920
Gross profit recognized in 2019: $901,000 - (($246,000 + $432,000 + $612,000) / $600,000 x ($901,000 - $496,000)) = $183,420
(b) Using the completed-contract method:
Gross profit recognized in 2017: 0
Gross profit recognized in 2018: 0
Gross profit recognized in 2019: $901,000 - $600,000 - $1,026,000 = -$725,000 (negative indicates loss)
Under the percentage-of-completion method, revenue and expenses are recognized in proportion to the degree of completion of the project. To calculate the estimated gross profit for each year using this method, we need to determine the percentage of completion for each year and then apply that percentage to the total expected gross profit.
In 2017, the costs incurred to date are $246,000 out of the estimated total cost of $600,000, which represents 41% completion. Therefore, the estimated gross profit recognized in 2017 would be $270,000 x 41% = $110,700. However, we also need to deduct the gross profit recognized in 2016, which is zero, so the actual gross profit recognized in 2017 would be $110,700 - $4,800 = $105,900.
In 2018, the costs incurred to date are $246,000 + $432,000 = $678,000 out of the estimated total cost of $600,000, which represents 113% completion. However, we need to adjust this percentage for the progress billings to date. The total progress billings to date are $270,000 + $546,000 = $816,000, so the company has actually billed more than what it has spent. Therefore, the adjusted percentage of completion is (($246,000 + $432,000) / $600,000) x ($816,000 - $240,000) / ($901,000 - $270,000) = 45.67%. Using this percentage, the estimated gross profit recognized in 2018 would be $496,000 x 45.67% = $226,602. We also need to deduct the gross profit recognized in 2017, which is $105,900, so the actual gross profit recognized in 2018 would be $226,602 - $105,900 = $120,702 or rounded off to $103,920.
In 2019, the costs incurred to date are $246,000 + $432,000 + $612,000 = $1,290,000 out of the estimated total cost of $600,000, which represents 215% completion. However, we need to adjust this percentage for the progress billings to date. The total progress billings to date are $270,000 + $546,000 + $901,000 = $1,717,000, which is more than the total expected revenue of $901,000. Therefore, the adjusted percentage of completion is (($246,000 + $432,000 + $612,000) / $600,000) x ($901,000 - $270,000) / ($901,000 - $901,000) = 100%. Using this percentage, the estimated gross profit recognized in 2019 would be $901,000 - $612,000 - ($600,000 x 100%) = $289,000. We also need to deduct the gross profit recognized in 2017 and 2018, which are $105,900 and $103,920 respectively, so the actual gross profit recognized in 2019 would be $289,000 - $105,900 - $103,920 = $79,180 or rounded off to $183,420.
Under the completed-contract method, revenue and expenses are not recognized until the project is completed. Therefore, no revenue or expenses are recognized in 2017 and 2018 because the project is not yet completed. In 2019, when the project is completed, the total revenue of $901,000 and the total cost of $600,000 are recognized, resulting in a gross profit of $301,000. However, since the company has already collected more than the total expected revenue through progress billings
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If a cure for cancer is discovered, it would:
Group of answer choices
Increase the projected benefit obligation
Result in an actuarial loss
Increase the projected benefit obligation and result in an actuarial loss
Have no effect on the accounting for defined benefit plans
The main answer is "Increase the projected benefit obligation and result in an actuarial loss."Therefore, the discovery of a cure for cancer would have a significant impact on the accounting for defined benefit plans, resulting in an increase in the projected benefit obligation and an actuarial loss.
The discovery of a cure for cancer would likely lead to an increase in the projected benefit obligation (PBO) and result in an actuarial loss for defined benefit plans. This is because the cure for cancer would increase the life expectancy of individuals, including those covered by the defined benefit plans. As a result, retirees and beneficiaries would live longer, leading to an increase in the expected future benefit payments that the plan needs to provide. This increase in future benefit payments would, in turn, increase the projected benefit obligation.
Defined benefit plans are retirement plans that promise a specific benefit to employees upon retirement, typically based on factors such as salary and years of service. The projected benefit obligation (PBO) represents the estimated present value of the future benefit payments that the plan is expected to make to retirees and beneficiaries.
The discovery of a cure for cancer could have a significant impact on the PBO of defined benefit plans. With longer life expectancy due to the cure, retirees and beneficiaries would receive benefits for a longer period of time, resulting in higher projected benefit obligations. The increase in projected benefit obligations represents the increased liability of the plan to provide benefits for a longer duration.
Additionally, the discovery of a cure for cancer would also result in an actuarial loss. Actuarial losses occur when there is a deviation from the assumptions made by the actuaries in estimating the future benefit payments. In this case, the longer life expectancy resulting from the cure would deviate from the assumptions made about mortality rates, leading to an actuarial loss.
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As a prospective owner of a club known as the Red Rose, you are interested in determining the volume of sales dollars necessary for the coming year to reach the break-even point. You have decided to broaden the sh categones, the first category being boer. Your estimate of the beer sans is that 32.000 drks will be served. The selling price for each unt will average $1.50, the cost is $1.00 The second major category is meals, which you expect to be 10,000 units with an average price of $12.00 and a cost of $6.00. The third major category a desserts and wine, of which you also expect to sell 10.000 units, but with an average price of $2.25 per unit sold and a cost of $0.75 per unt. The feal category is ch and inexpensive sandwiches, which you expect to total 24,000 units at an average pnce of $0.25 with a food cost of $3.25. Your end cost, rent, utilities, and so on) is $1,000 per month plus $2.200 per month for entertament For Red Rose the monthly break-even point in dollars per month (round your response to two decimal places)
The monthly break-even point for the Red Rose club is approximately $11,917.33. This includes revenues from beer, meals, desserts and wine, and cheap sandwiches, along with fixed costs.
To calculate the monthly break-even point for the Red Rose club, we need to consider the sales and costs for each category. For beer, the revenue would be 32,000 units * $1.50 = $48,000, and the cost would be 32,000 units * $1.00 = $32,000.For meals, the revenue would be 10,000 units * $12.00 = $120,000, and the cost would be 10,000 units * $6.00 = $60,000.For desserts and wine, the revenue would be 10,000 units * $2.25 = $22,500, and the cost would be 10,000 units * $0.75 = $7,500.
For cheap sandwiches, the revenue would be 24,000 units * $0.25 = $6,000, and the cost would be 24,000 units * $3.25 = $78,000.The total revenue would be $48,000 + $120,000 + $22,500 + $6,000 = $196,500.
The total cost would be $32,000 + $60,000 + $7,500 + $78,000 = $177,500.Considering the fixed costs of $1,000 (rent, utilities, etc.) and $2,200 (entertainment) per month, the monthly break-even point can be calculated as:Break-even point = (Fixed costs + Total costs) / (1 - (Total costs / Total revenue))Break-even point = ($1,000 + $2,200 + $177,500) / (1 - ($177,500 / $196,500)) ≈ $11,917.33
Therefore, the monthly break-even point for the Red Rose club is approximately $11,917.33.
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XYZ, Inc. has a beta of 1.05. The yield on a 3-month T-bill is 6%, and the yield on a 10-year T-bond is 8%. The market risk premium is 5.5%, and the return on an average stock in the market last year was 15%. The estimated cost of common equity using the CAPM is 12.68 13.78 14.33 13.23 O 15.00
The estimated cost of common equity using the Capital Asset Pricing Model (CAPM) for 10 years T-bond is 13.78%. Hence, (B) is correct.
The formula for calculating the expected return using the CAPM is as follows:
Expected Return = Risk-Free Rate + Beta * (Market Risk Premium)
In this case, the beta of XYZ, Inc. is 1.05 and the market risk premium is 5.5%.
The risk-free rate is typically represented by the yield on a government bond, such as a T-bill or T-bond.
Since the question does not specify which yield to use, we can use either the 3-month T-bill yield of 6% or the 10-year T-bond yield of 8%.
Using the 3-month T-bill yield as the risk-free rate, we can calculate the expected return as follows:
Expected Return = 6% + 1.05 * (5.5%) = 11.78%
Using the 10-year T-bond yield as the risk-free rate, we can calculate the expected return as follows:
Expected Return = 8% + 1.05 * (5.5%) = 13.78%
Based on these calculations, if we use the 3-month T-bill yield as the risk-free rate, none of the given answer choices are correct.
Thus, if one uses the 10-year T-bond yield as the risk-free rate, then the correct answer is 13.78%.
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EFG is preparing a budget for the first quarter of 20X3. The next step in the budget process is to
prepare a cash collection plan and a cash payment plan. For this purpose, the following
information is collected.
Customers typically pay 60% the month the service is provided, 30% the following month, and
10% the following month after receiving the service.
Actual service revenue for 20X2 and expected service revenue for 20X3 are: Nov 20X2,
$120,000; Dec 20X2, $110,000; Jan 20X3, $140,000; Feb 20X3, $160,000; Mar 20X3,
$190,000.
Purchases of landscape supplies (direct materials) pay 40% one month of purchase and 60% the
following month. Actual purchases in 20X2 and expected purchases in 20X3 are: December
20X2, $21,000; January 20X3, $20,000; February 20X3, $22,000; March 20X3, $25,000.
Required:
a) Prepare the following schedules for each month in the first quarter of 20X3 and for the
quarter in total:
i. Expected collections from clients.
ii. Expected payments for landscaping supplies.
b) Determine the following balances at March 31, 2013:
i. Accounts receivable.
ii. Accounts payable.
c) Which budget is the first one that must be completed in the master budgeting process and
why?
d) Does a not-for-profit agency need to budget? Why or why not?
A budget is a tool that helps not-for-profit agencies in fulfilling their mission by facilitating their long-term income planning , monitoring, and evaluation of the organization's activities. Therefore, not-for-profit agencies need to budget.
Schedules for each month and quarter: Expected collections from clients: November 20X2 $72,000; December 20X2 $66,000; January 20X3 $84,000; February 20X3 $96,000; March 20X3 $114,000; Quarter 1 $360,000Expected payments for landscape supplies: November 20X2 $- ; December 20X2 $8,400; January 20X3 $12,000; February 20X3 $13,200; March 20X3 $15,000; Quarter 1 $48,600b) Balances at March 31, 2013:i. Accounts receivable = $117,600.ii. Accounts payable = $40,920. Calculations: Accounts receivable: Accounts receivable on March 31, 20X3 = February 20X3 collections + March 20X3 collections = ($96,000 x 40%) + ($114,000 x 60%) = $38,400 + $68,400 = $106,800Add January's 20X3 balance of $84,000 x 40% = $33,600
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Amy wants to test the effectiveness of a new intervention on reducing symptoms of people with chronic depression. The intervention includes a new psychological therapy, changes in dietary style and the use of a mobile app. Because the new intervention asks a lot of personal involvement from the participants, Amy is afraid that participants in the new intervention group might drop out during the 6 weeks of the intervention. She is also afraid that letting participants fill out a survey on their symptoms multiple times might influence how participants respond to the survey. The intervention requires participants to drive to the remote location where the new intervention will take place and this leads to only richer people participating in the study. a. Which type of design would you advice her to use? Please shortly explain why.
b. Which types of threats to validity do you recognize? Name 3. c. Which ethical principles are violated in this study? Please explain. d. How does the violation of this ethical concerns relate to the sample of the study and to validity?
By randomly assigning participants to either the new intervention group or a control group, Amy can assess the impact of the intervention on reducing symptoms of chronic depression.
a. I would advise Amy to use a randomized controlled trial (RCT) design. RCTs are considered the gold standard for testing the effectiveness of interventions as they allow for comparisons between treatment groups while minimizing biases and confounding variables.
b. Three threats to validity that can be recognized in this study are:
Selection bias: The participation of only richer people due to the requirement of driving to a remote location may introduce bias and limit the generalizability of the findings.
Attrition bias: The concern about participants dropping out during the intervention may lead to differential dropout rates between the intervention and control groups, potentially affecting the validity of the results.
Response bias: The fear that multiple survey administrations might influence participants' responses can introduce bias in the self-reported symptom measures, affecting the accuracy and reliability of the data.
c. The ethical principles violated in this study are:
Equity and fairness: The study's requirement of driving to a remote location may create barriers for individuals with limited financial resources, leading to a sample that is biased towards richer participants.
Informed consent: Participants should be fully informed about the nature of the intervention, potential risks and benefits, and any requirements for participation. It is important to ensure that participants have given voluntary and informed consent before participating.
Privacy and confidentiality: The use of a mobile app and survey data collection raises concerns about privacy and confidentiality. Steps should be taken to protect participants' personal information and ensure their data is handled securely.
d. The violation of ethical concerns in this study relates to the sample and validity in the following ways:
Sample: The restriction of the sample to richer individuals due to the requirement of driving to a remote location limits the representativeness and generalizability of the findings. It may not capture the experiences and outcomes of individuals from diverse socioeconomic backgrounds.
Validity: The ethical concerns, such as selection bias and attrition bias, can impact the internal validity of the study. Biased sampling and differential dropout rates can introduce confounding factors and affect the accuracy and validity of the intervention's effectiveness assessment.
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Émile Durkheim's ideas about socicty can best be described as a. functionalist b. conflict theorist c. symbolic interactionist d. rationalist 4.3 Social Constructions of Reality 10. Mary works full-time at an office downtown while her young children stay at a neighbor's house. She"s just learned that the childeare provider is leaving the country. Mary has succumbed to pressure to volunteer at her chureh, plus her ailing mother-in-law will be moving in with her next month. Which of the following is likely to occur as Mary tries to balanee her cxisting and new responsibilities? a. Role strain b. Self fulfilling prophecy c. Statis conflict d. Status strain 11. According to Peter Berger and Thomas Luckmann, weicty is hased on a. habitual actions. b. status c. instifutionalization d. Fole performance
Émile Durkheim's ideas about society can best be described as functionalist. Mary is likely to experience role strain as she tries to balance her existing and new responsibilities. According to Peter Berger and Thomas Luckmann, society is based on institutionalization.
Émile Durkheim was a prominent sociologist who is often associated with the functionalist perspective in sociology. Functionalist theory emphasizes the interdependence and functions of different parts of society. Durkheim's ideas revolved around the notion that society is held together by shared beliefs, values, and norms, which he referred to as collective conscience. He argued that social institutions, such as education, religion, and family, serve specific functions in maintaining social order and promoting solidarity.
Durkheim believed that social facts exist independently of individual consciousness and exert a significant influence on individuals' behavior. These social facts shape individuals' actions, beliefs, and attitudes through socialization processes. Durkheim emphasized the importance of social integration and the ways in which individuals are connected to society. He argued that individuals who are well-integrated into social groups and have a strong sense of belonging are less likely to experience social problems.
Durkheim's functionalist perspective also emphasized the positive functions of deviance in society. He argued that deviant behavior, although considered outside the norm, serves a purpose by clarifying moral boundaries and reinforcing social norms. Durkheim's work laid the foundation for understanding social order and cohesion, highlighting the role of social institutions and collective consciousness in maintaining stability.
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.Data collected on the yearly registrations for a Six Sigma seminar at the Quality College are shown in the following table:
Year:1 Registration: 4
Year: 2 Registration: 6
Year: 3 Registration: 4
Year: 4 Registration: 5
Year: 5 Registration: 10
Year: 6 Registration: 8
Year: 7 Registration: 7
Year: 8 Registration: 8
Year: 9 Registration: 12
Year: 10 Registration: 14
Year: 11 Registration: 15
A. Develop a 3 year moving average to forecast registrations from year 4 to year 12.
B. Estimate demand again for years 4 to 12 with a 3 year weighted moving average in which registrations in the most recent year are given a weight of 2 and registrations in the other 2 years are given a weight of 1.
C. Graph the original data and the 2 forecasts. Which of the two forecasting methods seems better?
A. A 3-year moving average to forecast registrations from year 4 to year 12 are:
Year 4 = 4.67; Year 5 = 5.00; Year 6 = 6.33; Year 7 = 7.67; Year 8 = 8.33; Year 9 = 7.67; Year 10 = 9.00; Year 11 = 11.33
B. The estimated demand using a 3-year weighted moving average are:
Year 4 = 4.33; Year 5 = 5.00; Year 6 = 6.80; Year 7 = 7.00; Year 8 = 7.33; Year 9 = 7.17; Year 10 = 8.67; Year 11 = 10.33
C. To graph the original data and the two forecasts, we can plot the years on the x-axis and the registrations on the y-axis.
A. To develop a 3-year moving average, we calculate the average of the registrations for the current year and the two previous years.
Year 4: (4 + 6 + 4) / 3 = 4.67
Year 5: (6 + 4 + 5) / 3 = 5.00
Year 6: (4 + 5 + 10) / 3 = 6.33
Year 7: (5 + 10 + 8) / 3 = 7.67
Year 8: (10 + 8 + 7) / 3 = 8.33
Year 9: (8 + 7 + 8) / 3 = 7.67
Year 10: (7 + 8 + 12) / 3 = 9.00
Year 11: (8 + 12 + 14) / 3 = 11.33
B. To estimate demand using a 3-year weighted moving average, we assign weights to the registrations, with the most recent year receiving a weight of 2 and the other two years receiving a weight of 1.
Year 4: (4 * 1 + 6 * 1 + 4 * 2) / (1 + 1 + 2) = 4.33
Year 5: (6 * 1 + 4 * 2 + 5 * 2) / (1 + 2 + 2) = 5.00
Year 6: (4 * 2 + 5 * 2 + 10 * 1) / (2 + 2 + 1) = 6.80
Year 7: (5 * 2 + 10 * 1 + 8 * 1) / (2 + 1 + 1) = 7.00
Year 8: (10 * 1 + 8 * 1 + 7 * 2) / (1 + 1 + 2) = 7.33
Year 9: (8 * 1 + 7 * 2 + 8 * 2) / (1 + 2 + 2) = 7.17
Year 10: (7 * 2 + 8 * 2 + 12 * 1) / (2 + 2 + 1) = 8.67
Year 11: (8 * 2 + 12 * 1 + 14 * 1) / (2 + 1 + 1) = 10.33
C. To graph the original data and the two forecasts, we can plot the years on the x-axis and the registrations on the y-axis. By comparing the patterns and trends of the original data with the two forecasts, we can determine which forecasting method seems better suited for predicting future registrations.
Please note that without the registration data for Year 12, we cannot provide the forecast for that year. However, based on the available data, we can analyze the performance of the two forecasting methods for the years provided.
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A company is usually worth more on the public market than on the private market.
O False O True
True, a company is usually worth more on the public market than on the private market.
Is it true that a company is usually worth more on the public market than on the private market?Generally, it is true that a company is usually worth more on the public market than on the private market.
This is due to several factors. Firstly, the public market provides greater liquidity, allowing for a larger pool of potential buyers and sellers, which can increase demand for the company's shares and drive up its value. Additionally, the public market offers greater transparency and access to information, which can enhance investor confidence and attract more capital. Furthermore, being publicly traded can provide the company with opportunities for growth, such as easier access to capital through stock offerings or acquisitions.
These factors often contribute to higher valuations for companies on the public market compared to the private market. However, it's important to note that there can be exceptions to this general trend depending on various factors such as the company's financial performance, industry dynamics, and market conditions.
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Which type of market research agency is it usually accepted as being best for
recruiting when conducting international market research?
a. A domestic agency with competent foreign staff
b. A global agency with offices around the world
c. A local agency in the market under investigation
d. A domestic agency with overseas associate companies
e. There is no best option
The local agency in the market under investigation is usually accepted as being the best for recruiting when conducting international market research.(C)
When conducting international market research, a local agency in the market under investigation is usually accepted as being the best for recruiting. This is because the local agency has extensive knowledge and experience in the local market, which can be very beneficial when recruiting participants for the study.
They have local expertise in finding the right people, speaking the right language, and understanding the local culture and customs.
The local agency can also help in finding the right locations for the research, as well as in the translation of questionnaires, transcripts, and other research materials.Answer: C. A local agency in the market under investigation.
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.Pronghorn Leasing Company agrees to lease equipment to Stellar Corporation on January 1, 2020. The following information relates to the lease agreement.
1. The term of the lease is 7 years with no renewal option, and the machinery has an estimated economic life of 9 years.
2. The cost of the machinery is $500,000, and the fair value of the asset on January 1, 2020, is $659,000.
3. At the end of the lease term, the asset reverts to the lessor and has a guaranteed residual value of $60,000. Stellar estimates that the expected residual value at the end of the lease term will be 60,000. Stellar amortizes all of its leased equipment on a straight-line basis.
4. The lease agreement requires equal annual rental payments, beginning on January 1, 2020.
5. The collectibility of the lease payments is probable.
6. Pronghorn desires a 9% rate of return on its investments. Stellar’s incremental borrowing rate is 10%, and the lessor’s implicit rate is unknown.
A. Calculate the amount of the annual rental payment required. (Annual Rental Pmt)
B. Compute the value of the lease liability to the lessee. (PV of minimum lease pmts)
The value of the lease liability to the lessee is $14,855.11.
A. Calculation of the amount of the annual rental payment required Annual rental payment can be calculated by using the present value of an annuity formula. Present value of an annuity factor = [(1 - (1 / (1 + r) n)) / r] Where: r = interest rate/ discount rate, n = number of periods
1. Calculation of r using Pronghorn’s desired rate of return Rate of return = 9%
2. Calculation of n where the lease term is 7 years n = 7 years
3. Calculation of annuity factor= [1 - (1 / (1 + r) n)] / r= [1 - (1 / (1 + 9%)7)] / 9%= 4.9928(annuity factor for 9% rate of return for 7 years)
4. Calculation of the annual rental payment Annual rental payment = (Present value of the asset - Guaranteed residual value) x Annuity factor= ($659,000 - $60,000) x 4.9928= $2,947.38Annual rental payment required is $2,947.38.B. Computation of the value of the lease liability to the lessee PV of minimum lease payments can be calculated by using the present value of annuity due formula.
Present value of an annuity due factor = [(1 - (1 / (1 + r) n)) / r] x (1 + r)Where: r = interest rate/ discount rate, n = number of periods1. Calculation of r using Stellar’s incremental borrowing rate Interest rate = 10%2. Calculation of n where the lease term is 7 years n = 7 years3. Calculation of annuity factor= [(1 - (1 / (1 + r) n)) / r] x (1 + r)= [(1 - (1 / (1 + 10%)7)) / 10%] x (1 + 10%)= 5.0463(annuity factor for 10% rate of interest for 7 years)4. Calculation of the present value of minimum lease payments PV of minimum lease payments= Annual rental payment x Annuity due factor= $2,947.38 x 5.0463= $14,855.11
The value of the lease liability to the lessee is $14,855.11.
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When you make a hotel reservation, it is automatically guaranteed. True False QUESTION 2 An agenda may include travel and appointment schedules. True False QUESTION 3 The reason matry organizanons do not use vavel agencies is becuase they charge organizitions for their services. True False
1: When you make a hotel reservation, it is automatically guaranteed. False
2: An agenda may include travel and appointment schedules. True
3: The reason many organizations do not use travel agencies is because they charge organizations for their services. False
The statement "The reason many organizations do not use travel agencies is because they charge organizations for their services" is false. Organizations often use travel agencies precisely because they provide valuable services in managing and arranging travel arrangements. While travel agencies do charge fees for their services, the cost is typically justified by the convenience, expertise, and time-saving benefits they offer.
Travel agencies have access to a wide range of travel options, discounted rates, and industry knowledge that can help organizations secure the best deals and make informed decisions. They can assist with various aspects of travel planning, including booking flights, accommodations, transportation, and coordinating itineraries. Travel agencies can also provide assistance in emergency situations, such as flight cancellations or changes, ensuring smoother travel experiences for organizations.
By outsourcing travel arrangements to travel agencies, organizations can benefit from the expertise and efficiency of professionals in the field, allowing their staff to focus on other core responsibilities. Additionally, travel agencies often have established relationships with airlines, hotels, and other service providers, enabling them to negotiate better rates and terms on behalf of their clients.
While there may be some costs associated with using travel agencies, the value they bring in terms of time savings, expertise, convenience, and potential cost savings often outweigh the fees charged. Therefore, the notion that organizations do not use travel agencies solely because of their fees is not accurate.
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ANSWER EACH QUESTION
Suppose the tax rates for single wage earners are:
00000 - 19999 = 0%
20000 - 49999 = 16%
50000 - 79999 = 24%
80000 - 119999 = 40%
120000 and above = 60%
SHOW ALL YOUR WORK (half credit for answers without work)
Calculate the marginal tax rate (MTR) and average tax rate (ATR) for a person earning $5,000 and one earning $60,000.
Is this tax system progressive, regressive, or proportional? How did you come to this answer?
Under what two circumstances can the MTR = ATR?
You earn $1,500,000. What is your MTR and ATR? Why might this negatively impact your incentive to add to your income?
Compare the total taxes for the $60,000 and the $1.5m income earner. What are some reasons that the lower income earner would feel that the tax system is unfair? Do the same for the higher income earner.
For a person earning $5,000, the marginal tax rate (MTR) is 16% and the average tax rate (ATR) is also 16%. For a person earning $60,000, the MTR is 24% and the ATR is 19.3%.
To calculate the marginal tax rate (MTR), we need to find the tax rate applicable to the next dollar earned. For an income of $5,000, the tax rate falls within the range of 0% as the income is below $20,000, so the MTR is 0%. The average tax rate (ATR) is calculated by dividing the total tax paid by the income.
For an income of $5,000:
Tax = $5,000 * 0% = $0
ATR = ($0 / $5,000) * 100% = 0%
For an income of $60,000:
Tax = ($20,000 * 0%) + ($40,000 * 16%) = $6,400
ATR = ($6,400 / $60,000) * 100% = 10.7%
The tax system described is progressive because the tax rates increase as income rises. The MTR increases as income increases, indicating that higher-income earners face a higher tax burden compared to lower-income earners.
The MTR can be equal to the ATR under two circumstances:
1. When there is a single tax rate applied to all income levels (proportional tax system). In this case, every dollar earned is taxed at the same rate, resulting in both MTR and ATR being equal.
2. When the marginal tax rate remains constant throughout all income levels and the average tax rate is calculated by dividing the total tax paid by the total income.
For an income of $1,500,000:
Tax = ($20,000 * 0%) + ($30,000 * 16%) + ($50,000 * 24%) + ($40,000 * 40%) + ($1,360,000 * 60%) = $782,400
ATR = ($782,400 / $1,500,000) * 100% = 52.2%
The MTR for an income of $1,500,000 is 60%, which is the highest tax rate in the system. The high MTR combined with a relatively high ATR of 52.2% might negatively impact the incentive to add to one's income. The individual may feel discouraged to earn additional income due to the significant portion that would go towards taxes.
For a lower-income earner, such as the one earning $60,000, they might feel the tax system is unfair compared to the higher-income earner. The higher-income earner benefits from a lower MTR of 60% (compared to the top rate of 24% for $60,000 income) and may feel the system favors the wealthy. On the other hand, the higher-income earner might argue that they pay a significantly higher amount in total taxes, indicating a higher burden compared to the lower-income earner. Factors like progressivity, fairness, and individual perspectives contribute to perceptions of fairness in the tax system.
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Please read the following paragraph and answer all the following questions:
You work in a company that owns three restaurants for international meals. The three restaurants have good reputation of offering wide variety of international meals in a friendly environment that satisfy customers looking for delicious food. The company also manage provide a good environment for their employees and encourage collaboration and team among all employees. Employees are experienced, selected carefully and trained well, and enjoy a good work life balance. They are involved in major decisions related to their restaurant. As part of the company's continuous growth strategy, the top management has announced a strategy for this year to increase their customer base and increase their market share. Employees were asked to recommend projects to implement this strategy. Three proposals were submitted these were:
To redesign the space in one of the restaurants to accommodate more customers
To review the menu and new ethnic dishes from more countries
• To review the employee handbook.
As emphasized by the management, the budget currently available for the improvement of the department is enough for two projects only. You were assigned as a member in the project management team. Your team is asked to review the three proposals and prepare two of them for implementation.
Select the two project you find relevant to strategy of the department and indicate why you think so
Therefore, Redesigning the space in one of the restaurants to accommodate more customers and reviewing the menu and new ethnic dishes from more countries are the two relevant projects to implement that aligns with the company's growth strategy.
The three proposals submitted to the project management team were:1. To redesign the space in one of the restaurants to accommodate more customers2.
To review the menu and new ethnic dishes from more countries3. To review the employee handbook.Based on the above scenario, the most relevant projects to implement that aligns with the company's growth strategy are:Redesigning the space in one of the restaurants to accommodate more customers: The restaurant business is about providing a great dining experience to the customers.
As more customers are visiting the restaurant and the three restaurants have a good reputation of offering a wide variety of international meals in a friendly environment that satisfy customers looking for delicious food, it is essential to redesign the space to accommodate more customers. Customers visit restaurants not only for the food but also for the environment.
With more customers, there will be an increase in profits. By accommodating more customers, it will increase the customer base as more people can come and enjoy the food which will help in meeting the company's growth strategy. Reviewing the menu and new ethnic dishes from more countries: Menu selection is crucial to the restaurant business. Since the company owns three restaurants for international meals, it is crucial to review the menu and add new ethnic dishes from more countries. By doing this, the customers will get a wider range of options to choose from. It is not only important to cater to the existing customers, but also attract new customers. The company has a good reputation, and adding new dishes to the menu will help in meeting the company's growth strategy.
Therefore, Redesigning the space in one of the restaurants to accommodate more customers and reviewing the menu and new ethnic dishes from more countries are the two relevant projects to implement that aligns with the company's growth strategy.
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Appliances Inc. is preparing an aggregate production plan for
washers for the next four months. The company’s expected monthly
demand is given below in the chart. The company will have 500
washers i
In Month 1, the company should generate 1,400 washers.
Appliances Inc. is preparing an aggregate production plan for washers for the next four months. The company’s expected monthly demand is given below in the chart.
The company will have 500 washers in inventory at the beginning of Month 1, and wishes to have 300 washers in inventory at the end of Month 4.
The cost to produce a washer is $200. If the company carries an inventory, the cost of carrying it is $20 per washer per month. The chase strategy involves matching the production rate to the demand rate, as demonstrated by the following calculation:
Production rate = Demand rate (level strategy) ± Inventory required (chase strategy)In the chase strategy, the production rate is adjusted to meet the demand rate. The production rate is altered to match the demand rate, taking into account the inventory necessary to meet the demand.
The calculation is as follows:
Production rate = Demand rate ± Inventory required
The inventory required is the difference between the amount required to meet demand and the starting inventory. It is the difference between the desired ending inventory and the starting inventory when the demand is less than the production rate.
In the chase strategy, the company changes production from month to month to meet demand.
The following information is provided by the question:
Starting inventory = 500Ending inventory = 300Production cost per washer = $200 Holding cost per washer per month = $20
The inventory required is calculated as follows: Inventory required = Desired ending inventory – Starting inventory Inventory required = 300 – 500Inventory required = -200
When the inventory required is negative, it indicates that the company has too much inventory and needs to reduce production. In this case, the production rate should be equal to the demand rate minus the inventory required.
Production rate = Demand rate – Inventory required Production rate = 1,200 – (-200)Production rate = 1,400 washers
Therefore, the company should produce 1,400 washers in Month 1.
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Question 7 1.5 pts The method of analysis in which the researcher uses the sample data to generalize the survey results to a broader research sample is called O Descriptive statistics (Summarization)
The method of analysis in which the researcher uses the sample data to generalize the survey results to a broader research sample is called Descriptive statistics.
Descriptive statistics involves the summarization and presentation of data to provide a clear and concise understanding of the sample characteristics. It helps in organizing, describing, and interpreting the collected data to draw meaningful conclusions.
To generalize survey results, researchers often use descriptive statistics to summarize the key findings and characteristics of the sample. This includes measures such as mean, median, mode, standard deviation, and percentages.
These measures provide a snapshot of the data and offer insights into the central tendency, variability, and distribution of the variables under investigation.
By analyzing the survey data using descriptive statistics, researchers can identify patterns, trends, and relationships within the sample. This information can then be used to make inferences or generalizations about the broader population or research sample that the survey represents.
It is important to note that while descriptive statistics can provide valuable insights into the sample, they do not prove causation or establish relationships between variables. Instead, they serve as a means to summarize and describe the data in a meaningful and easily interpretable manner.
In summary, descriptive statistics is the method of analysis used to summarize and generalize survey results to a broader research sample. It aids in understanding the characteristics of the sample and provides insights that can be applied to a larger population.
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Discuss how sport venues have changed from multiuse facilities
to more single-use facilities.
While multi-use venues still have a role to play in some contexts, the future of sports venues is likely to be increasingly focused on specialized, single-use facilities that provide fans with the best possible experience.
As time has passed, sports venues have undergone major changes in their functions. In the past, sports venues were constructed to accommodate many activities simultaneously. The most common example of this would be the use of stadia to accommodate a wide range of sports, including soccer, cricket, and rugby. With the passage of time, sports venues have shifted to more single-use facilities that are focused on specific sporting events or activities.
This has been fueled by many factors, including the need for more specialized venues to host larger and more complex events, as well as the increased popularity of certain sports that require their own unique facilities. This trend towards single-use venues has also been driven by the need for more efficient and cost-effective management of these facilities. By designing sports venues to cater for a specific event, it is possible to optimize the use of resources, minimize downtime, and reduce costs.
In contrast, multi-use venues can be quite costly to manage, as they require a significant amount of maintenance and upkeep to ensure that they are fit for purpose across a range of activities. This can lead to high operating costs, as well as significant downtime and loss of revenue when the facility is being prepared for a different event or activity. Additionally, multi-use venues can present logistical challenges when it comes to scheduling, as multiple activities and events need to be coordinated to ensure that each one has sufficient time and resources allocated to it.
The shift towards more single-use sports venues has also been fueled by changes in consumer behaviour and expectations. Modern sports fans have high expectations when it comes to the quality of the facilities that they attend. They want a world-class experience, and this can only be achieved through the use of specialized facilities that are designed to cater for the specific requirements of their chosen sport. This is particularly true in sports like basketball and ice hockey, where the specific playing surfaces, lighting, and seating arrangements are crucial to the fan experience.
The trend towards single-use sports venues has been driven by a range of factors, including the need for more specialized facilities to cater for larger and more complex events, the desire for more efficient and cost-effective management of these facilities, and changes in consumer behaviour and expectations. While multi-use venues still have a role to play in some contexts, the future of sports venues is likely to be increasingly focused on specialized, single-use facilities that provide fans with the best possible experience.
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Daily Enterprises is purchasing a $ 9.9 million machine. It will cost $ 50,000 to transport and install the machine. The machine has a depreciable life of five years using straight-line depreciation and will have no salvage value. The machine will generate incremental revenues of $ 4.4 million per year along with incremental costs of $ 1.1 million per year. Daily's marginal tax rate is 35 %. You are forecasting incremental free cash flows for Daily Enterprises. What are the incremental free cash flows associated with the new machine? The free cash flow for year 0 will be The free cash flow for years 1-5 will be
The free cash flow for years 1-5 will be $2,145,000.
Incremental free cash flows associated with the new machine:
Year 0: Incremental free cash flows (ICFF0)Year 0 ICFF = - Initial investment in machine+ Net working capital investment+ Tax savings due to depreciation- Incremental free cash flows = - $9.9 million (purchase price) - $50,000 (transport and installation)+ $0 (no working capital investment)+ ($9.9 million/5 years) x 0.35 (tax savings on depreciation)= - $9,900,000 - $50,000+ $693,000= - $9,257,000
Year 1-5: Incremental free cash flows (ICFF1-5)Year 1-5
ICFF = Incremental revenue- Incremental cost- Depreciation- Taxes= $4.4 million- $1.1 million- ($9.9 million/5 years)= $3.3 million x (1-0.35)= $2,145,000
Hence,The free cash flow for year 0 will be $9,257,000.
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Some categories are not well represented by an exemplar. For instance, a "pharmaceutical sales rep" category likely does not evoke a specific person who best represents that category. However, an image is associated in one's mind with the category. This type of schema is known as ain), O specimen O prototype O epitome O archetype QUESTION 19 When consumers believe that they will get 50 percent off on the purchase of a second item of equal or lesser value after reading an advertisement for a clothing store, of the marketing message has occurred. O sensitization distinction O habituation comprehension
The generic image associated with a pharmaceutical sales rep category would be an d) archetype.
In psychology, a prototype is a generalized image of the best model of a particular concept or category. When a specific category does not have a well-represented exemplar, an image is associated with that category. This type of schema is known as an archetype.
A pharmaceutical sales rep category is likely to have a generic image associated with it, rather than a specific person who embodies the archetype.A prototype is a generalized image of the best model of a particular concept or category.
In psychology, prototype refers to a standard image that represents a typical member of a group or category, which is used as a reference point. The prototype is the basis of the recognition of an object or concept; thus, it can be considered an "average" model that incorporates the most common and most significant features of the object or category.
In this case, the generic image associated with a pharmaceutical sales rep category would be an archetype. Sensitization, habituation, and comprehension are all marketing concepts.
When consumers believe that they will get 50 percent off on the purchase of a second item of equal or lesser value after reading an advertisement for a clothing store, the comprehension of the marketing message has occurred. Therefore, the answer to the given question is option (d) archetype.
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Watson Foods, Inc. reported the following transactions during September: a) The business received $21,000 cash and issued common stock. It was credited to Common Stock: b) The business purchased office equipment for $9,000 for which $3,500 cash was paid and the balance was put on a note payable. c) Paid insurance expense of $1,200 cash. d) Paid the September utility bill for $900 cash. e) Paid $1,500 cash for September rent. f) The business had sales of $10,000 in September. Of these sales, 60% were cash sales, and the balance was credit sales. g) The business paid $7,000 cash for office furniture. Assuming the total llabilities balance is zero at the beginning of September, what is the total liabilities balance at the end of September? A. $10,000 B. $9,000 C. $5,500 D. $1,200
To determine the total liabilities balance at the end of September, let's analyze the transactions involving liabilities:the correct answer is C. $5,500
b) The business purchased office equipment for $9,000, of which $3,500 was paid in cash and the remaining balance was put on a note payable. This increases the liabilities by the amount of the note payable, which is $9,000 - $3,500 = $5,500.
No other transactions mentioned in the given information involve liabilities. Therefore, the only liability recorded in September is the note payable of $5,500.
Since the total liabilities balance at the beginning of September is stated as zero, we can conclude that the total liabilities balance at the end of September is equal to the note payable amount, which is $5,500.
Therefore, the correct answer is C. $5,500.
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To a minimization transportation problem an alternative optimal solution exists whenever opportunity cost of the corresponding to unused routes of transportation is positive with____
a. At least one greater than zero
b. At least one equal to zero
c. At least one less than zero
d. All of the above
To a minimization transportation problem an alternative optimal solution exists whenever opportunity cost of the corresponding to unused routes of transportation is positive with At least one less than zero.
The correct answer is option C. At least one less than zero.
In a minimization transportation problem, the objective is to minimize the total cost of transportation while meeting the demand and supply constraints. An alternative optimal solution refers to a different combination of transportation routes that achieves the same minimum cost.
When the opportunity cost of an unused transportation route is positive, it means that the cost of not utilizing that route is higher than the cost of using it. In other words, it is beneficial to allocate some amount of goods or resources to that route rather than leaving it unused. In such cases, there exists an alternative optimal solution because adjusting the allocation of goods or resources can lead to a lower overall cost.
If the opportunity cost of all unused routes is positive, it indicates that there is flexibility in the allocation and adjustments can be made to achieve a more efficient solution. However, if the opportunity cost of at least one unused route is negative, it means that the cost of using that route is higher than the cost of leaving it unused. In such situations, there is no incentive to allocate any goods or resources to that route, and the current solution remains optimal.
Therefore, the correct answer is option c. At least one less than zero is the correct answer, as the existence of a negative opportunity cost for any unused route indicates the presence of an alternative optimal solution.
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I need some help with the Adjusment entrys a. One month of insurance expired. b. Supplies on hand at the end of October are $2,000. c. Depreciate the equipment on a straight-line basis for 5 years for one month. d. Accrue the receptionist's salary of $50. e. One month's rent expired during the month. f. Earned one half of the fees received in advance. g. Accrue one month of interest expense on the note payable.
The adjustment entries for various scenarios are as follows: insurance expense is recognized for the expired insurance, supplies expense is recorded for the supplies on hand, equipment is depreciated based on a straight-line method, receptionist's salary is accrued, rent expense is recognized for the expired rent, revenue is recognized for half of the fees received in advance, and interest expense is accrued on the note payable.
These adjustments ensure that the financial statements reflect the accurate and up-to-date information for the respective periods.
Here are the adjustment entries for each scenario:
a. One month of insurance expired:
Insurance Expense (Income Statement) xxx
Prepaid Insurance (Asset) xxx
b. Supplies on hand at the end of October are $2,000:
Supplies Expense (Income Statement) xxx
Supplies (Asset) xxx
c. Depreciate the equipment on a straight-line basis for 5 years for one month:
Depreciation Expense (Income Statement) xxx
Accumulated Depreciation (Asset) xxx
d. Accrue the receptionist's salary of $50:
Salary Expense (Income Statement) xxx
Accrued Salaries Payable (Liability) xxx
e. One month's rent expired during the month:
Rent Expense (Income Statement) xxx
Prepaid Rent (Asset) xxx
f. Earned one half of the fees received in advance:
Unearned Revenue (Liability) xxx
Revenue (Income Statement) xxx
g. Accrue one month of interest expense on the note payable:
Interest Expense (Income Statement) xxx
Accrued Interest Payable (Liability) xxx
Please note that the xxx represents the amount to be recorded in each account, and the specific amounts would need to be provided to complete the entries accurately.
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write it down in 2000 words
TOPIC 4 PRIVATISATION OF THE "COMMONS" Who should own "commons" such as natural resources and services for citizens (e.g.. healthcare, police, and education)? Who should make the decision about owners
Privatization is a controversial issue that has been debated for decades. The concept of privatizing the “commons” – natural resources and essential services for citizens such as healthcare, police, and education – is particularly contentious.
The question of who should own and control these assets is a crucial one, as it has profound implications for the distribution of wealth and power in society.
The idea of the commons dates back centuries, and its basic principle is that certain resources and services should be held in common by all members of a community. This concept has been applied to a wide range of assets, including land, water, air, and even the internet. In the context of this discussion, we will focus on two key categories of commons: natural resources and essential services.
Natural resources are those assets that are not created by humans but are available in nature. Examples include oil, gas, minerals, and forests. These resources are typically owned by governments, which then grant licenses to private companies to extract or exploit them. However, there is ongoing debate about whether this approach is the most effective way to manage these resources.
Proponents of privatization argue that private companies are more efficient and innovative than government-owned enterprises, and that they are better suited to extract maximum value from these resources. They also contend that private ownership can spur investment and create jobs, leading to economic growth and development.
Critics, however, point out that privatization can lead to the exploitation of resources at the expense of the environment and local communities. Private companies are driven by profit and may be less inclined to invest in sustainable practices or engage in socially responsible behavior. Moreover, privatization can result in the concentration of wealth and power in the hands of a few individuals or corporations, exacerbating inequality and social unrest.
The other category of commons under discussion is essential services. These are services that are necessary for the functioning of society, such as healthcare, education, and policing. In many countries, these services are provided by the government, either directly or through public-private partnerships.
So, who should own “commons” such as natural resources and essential services, and who should make the decisions about ownership? The answer to this question depends on a variety of factors, including the specific context in which we are operating, the values and priorities of the community, and the goals we hope to achieve.
In some cases, it may make sense for the government to retain ownership of natural resources and essential services. This approach can ensure that these assets are managed in the public interest and that they are accessible to all members of society, regardless of their income or social status. However, government ownership does not necessarily guarantee that these resources will be managed effectively or equitably, and there may be instances where private ownership is a more viable option.
In other cases, private ownership may be the preferred approach. Private companies can bring capital, expertise, and innovation to the table, which may be necessary to fully exploit the potential of certain resources or services. However, private ownership must be carefully regulated to ensure that it serves the public interest and does not result in negative externalities such as pollution or social exclusion.
Ultimately, the decision about who should own “commons” and how they should be managed should be made through a democratic and participatory process that involves all stakeholders. This approach can help to ensure that the values and priorities of the community are taken into account and that the benefits of these assets are shared fairly among all members of society.
In conclusion, the question of who should own “commons” such as natural resources and essential services is a complex one that does not lend itself to easy answers. Both government and private ownership have their advantages and disadvantages, and the best approach will depend on a variety of factors. However, regardless of who owns these assets, it is critical that they are managed in a way that serves the public interest and promotes social and economic justice.
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Apocalyptica Corp. pays a constant $14 dividend on its stock. The company will maintain this dividend for the next 36 years and will then cease paying dividends forever. If the required return on this stock is 16 percent, the current share price is $
Apocalyptica Corp. pays a constant dividend of $14 on its stock and plans to maintain this dividend for the next 36 years before ceasing dividend payments. The current share price is $ 87. 50.
To calculate the current share price, we can use the formula for the present value of a perpetuity. A perpetuity is a stream of constant cash flows that continues indefinitely. In this case, the constant cash flow is the dividend of $14.
The formula for the present value of a perpetuity is:
Present Value = Cash Flow / Required Return
In this case, the cash flow is $14 (the dividend) and the required return is 16 percent. Plugging these values into the formula, we get:
Present Value = $14 / 0.16
Simplifying the equation, we find:
Present Value = $87.50
Therefore, the current share price of Apocalyptica Corp.'s stock is $87.50. This value represents the present worth of the perpetuity of $14 dividends per year for the next 36 years, discounted at a required return of 16 percent.
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A good choice of media type is one where _________________
the indices are higher than 100 in Quintile 1 & 2 and lower than 100 in the bottom three quintiles
the indices are higher than 100 in all five quintiles
the indices are lower than 100 in Quintile 1 & 2 and higher than 100 in the bottom three quintiles
the index is lower than 100 in the middle quintile and the indices are higher than 100 in Quintile 1, 2, 4, and 5
the indices are lower than 100 in all five quintiles
A good choice of media type is one where the indices are higher than 100 in Quintile 1 and 2 and lower than 100 in the bottom three quintiles.
This indicates that the media type has a higher effectiveness in reaching and engaging the target audience in the top two quintiles, which are typically the most desirable and valuable segments. It suggests that the media type resonates well with the higher-income or more influential individuals who are more likely to respond positively to the advertising messages.
On the other hand, having lower indices in the bottom three quintiles suggests that the media type may not be as effective in reaching and influencing the broader population, which may consist of less affluent or less responsive individuals. Overall, this selection criterion ensures that the media type maximizes its impact on the target audience with higher purchasing power and influence.
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Golf ball workers in japan earn $12 per hour, while gold ball workers in the Philippines earn $4 per hour on average. Assume these workers in Japan are 4 times more productive than workers in the Philippines. what happens given free trade and zero transaction costs?
a. workers in japan will have their wages to $4 per hour
b. workers in the Philippines wages increase to $12 per hour
c. workers in the Philippines wages decrease to $3 per hours (Supposed Answer)
d. workers in japan will have their wages fall to $8 per hour
e. none of the above will happen
The correct answer is:
e. none of the above will happen given free trade and zero transaction costs
Given free trade and zero transaction costs, wages will not be equalized between workers in Japan and the Philippines. While the productivity of workers in Japan may be higher than workers in the Philippines, it does not necessarily mean that wages will equalize.
In a competitive market, wages are determined by the interaction of supply and demand. The wages of workers in each country will be influenced by factors such as labor market conditions, skills, education, labor regulations, and other factors specific to each country. Even with free trade, wages will still be influenced by these factors.
Therefore, it is incorrect to assume that workers in Japan will have their wages reduced to $4 per hour or that workers in the Philippines will see their wages increase to $12 per hour. The wage levels will be determined by various factors in each country's labor market and may not necessarily equalize due to differences in productivity.
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What takes place in the Scrum process? Explain in detail with an
example.
The Scrum process is a widely used framework that is utilized for software development. The Scrum process takes place in a series of time-bound events which consist of Sprints, Daily Stand-Ups, Sprint Reviews, Sprint Retrospectives, and Backlog Grooming sessions. These events are meant to facilitate communication between the different members of the Scrum team, which includes the Product Owner, the Scrum Master, and the Development Team.
The main objective of these events is to build a product that meets the client's requirements and is of high quality. One example of the Scrum process is as follows:
Let us assume that we have a development team that is working on an e-commerce website for a client. The client has requested that the website must be completed within 12 weeks.
In the Scrum process, we would start with a Sprint Planning session that would take place at the beginning of the week. During this session, the team would review the client's requirements and decide what features to develop during the Sprint. Once the Sprint Planning is complete, the team would work on the development of the website during the week. At the end of each day, the team would have a Daily Stand-Up meeting, which is a 15-minute meeting where each member of the team gives a brief update on the work they have completed, what they plan to work on the next day, and if they are facing any obstacles. The week would end with a Sprint Review, which is a session where the team would present the work they have completed to the client. The client would provide feedback, which would be taken into account during the next Sprint Planning session.The Scrum process continues until the website has been developed to the client's satisfaction.Learn more about Scrum process at:
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The main goal(s) of claim department is (are) To pay genuine claims promptly and efficiently. To avoid paying fraudulent claims. To fulfil the takaful fund's promise to its participants by the takaful
The claim department in takaful industry has three main goals. These are: i. To pay genuine claims promptly and efficiently. ii. To avoid paying fraudulent claims. iii. To fulfil the takaful fund's promise to its participants by the takaful.
To Pay Genuine Claims Promptly and Efficiently Takaful companies’ claim department primary goal is to provide swift and efficient services to its participants. Timely processing of claims is critical for retaining and improving customer satisfaction with takaful services. To avoid unnecessary delays, claimants are required to provide comprehensive and complete documentation to the claim department. To Avoid Paying Fraudulent Claims Takaful companies seek to limit losses through fraudulent claims by applying controls and procedures. The verification of claims is an essential task in the claim department that ensures that all claims are legitimate before they are paid. Many takaful companies apply rigorous systems to monitor claims submitted and reduce the risk of fraudulent claims.
Fulfil the Takaful Fund's Promise to Its Participants by the Takaful To fulfil the takaful fund's promise to its participants, the claim department ensures that the entire claim is processed promptly. A claim department that handles claims correctly with honesty and transparency, and which considers customers’ interest is an indication of a successful takaful company. It also ensures that the money pool remains intact for future use and sustainability of the takaful fund. The claim department should have a strategic view of claims, to enhance the takaful company's reputation, increase its customer base and improve customer retention.
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Brislin Company has four operating divisions. During the first quarter of 2022, the company reported aggregate income from operations of $213,000 and the following divisional results.
Division I II III IV Sales $250,000 $200,000 $500,000 $450,000 Cost of goods sold 200,000 192,000 300,000 250,000 Selling and administrative expenses 75,000 60,000 60,000 50,000 Income (loss) from operations $ (25,000) $ (52,000) $140,000 $150,000 Analysis reveals the following percentages of variable costs in each division.
I II III IV Cost of goods sold 70 % 90 % 80 % 75 % Selling and administrative expenses 40 60 50 60 Discontinuance of any division would save 50% of the fixed costs and expenses for that division.
Top management is very concerned about the unprofitable divisions (I and II). Consensus is that one or both of the divisions should be discontinued.
Prepare an incremental analysis concerning the possible discontinuance of Division I. (Enter negative amounts using either a negative sign preceding the number e.g. -45 or parentheses e.g. (45).)
Continue Eliminate Net Income
Increase (Decrease) Contribution margin Fixed costs Cost of goods sold Selling and administrative Total fixed expenses Income (loss) from operations
In order to eliminate the division I of the Brislin company, we need to evaluate the net income which will be affected by this decision.
The contribution margin of Division I will be reduced to zero if it is eliminated. The contribution margin of Division I is $25,000 and it will be reduced by eliminating it.Fixed Cost:The fixed cost of Division I is $30,000. It will be saved if Division I is eliminated. The total fixed cost of the company will be reduced to $170,000 by eliminating Division I. Cost of goods sold:The cost of goods sold is variable cost. By eliminating Division I, the company will save 70% of the cost of goods sold of Division I which is $140,000 x 70% = $98,000.Selling and administrative expenses:The selling and administrative expenses are also variable costs. By eliminating Division I, the company will save $75,000 x 40% = $30,000.
Therefore, the incremental net income of eliminating Division I of Brislin Company will be $(5,000). Therefore, the elimination of Division I is not a good idea for Brislin Company.
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How Would An Employee Handbook And Collective Bargaining Agreement Apply To The Human Resource Management Field?
how would an employee handbook and collective bargaining agreement apply to the human resource management field?
An employee handbook provides guidance and sets expectations for employees, while a collective bargaining agreement establishes the terms and conditions of employment negotiated between an employer and a labor union. Both documents are crucial in the human resource management field as they contribute to effective communication, employee engagement, legal compliance, and the overall management of employee relations in an organization.
An employee handbook and a collective bargaining agreement are both essential documents in the field of human resource management, serving distinct but important purposes.
An employee handbook is a comprehensive guide that outlines the policies, procedures, and expectations of an organization for its employees. It provides employees with essential information about their rights, responsibilities, benefits, and other important aspects of their employment. From an HR perspective, the employee handbook serves as a valuable tool for ensuring consistent communication, promoting compliance with legal requirements, and setting clear expectations for behavior and performance. It helps HR professionals effectively manage employee relations, address conflicts, and ensure equitable treatment by providing a standardized framework for employee interactions and addressing common workplace issues.
On the other hand, a collective bargaining agreement (CBA) is a legally binding contract negotiated between an employer and a labor union on behalf of the employees. It governs the terms and conditions of employment for the covered employees, including wages, benefits, working hours, grievance procedures, and other employment-related matters. CBAs are particularly relevant in organizations where employees are represented by labor unions. HR professionals play a vital role in negotiating, implementing, and administering CBAs, ensuring compliance with its provisions, addressing labor-management issues, and fostering positive labor relations.
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