The high number of mortgage defaults during the 2008 financial crisis was caused by a combination of factors, including the federal government's encouragement for banks to increase home loans and home ownership, home buyers borrowing more money than they could afford, banks loosening their strict standards for loans, and banks assuming they were protected from defaults with mortgage-backed securities.
To explain in detail, the federal government's push for increased home ownership led to policies such as the Community Reinvestment Act, which required banks to lend to borrowers in underserved communities. This resulted in banks offering more subprime loans to borrowers who may not have qualified under previous lending standards. Additionally, home buyers often borrowed more than they could afford, either due to poor financial planning or because of risky loan products such as adjustable-rate mortgages.
Banks also contributed to the high number of mortgage defaults by loosening their standards for loans. They offered loans to borrowers with lower credit scores and required little or no down payment, which increased the risk of default. Furthermore, banks believed they were protected from defaults with the use of mortgage-backed securities, which are investments backed by pools of mortgages. However, the underlying mortgages were often subprime, and when borrowers defaulted, the securities became worthless, causing widespread losses throughout the financial system.
In summary, the combination of government policies, borrower behavior, bank practices, and faulty securities contributed to the high number of mortgage defaults that occurred during the 2008 financial crisis.
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The abolishment of slavery was not the only threat to slave owners. We will consider two other challenges slave owners faced in this question. •• Explain why current US slave owners wanted a ban on the import of new slaves from Africa. Be sure to include a figure showing the market for US slaves and how new slaves from Africa affect the market. (4 pts) •• A less obvious threat to slave owners came from low-skilled agricultural immigrants to the US. Draw the US market for low-skilled agricultural workers and show how a wave of immigrants affects the market. (4 pts) •• Draw the US market for slaves. Assuming low-skilled agricultural workers are a substitute for slaves, show how your answer in the previous part impacts the US market for slaves. (4 pts) •• Do you agree with Wright that the significance of slavery in the US would have declined even without the Civil War? Use evidence from the course material to support your argument. (4 pts)
It had negative effects on the market for US slaves. A wave of low-skilled agricultural immigrants entered the US market, the supply of agricultural workers increased If low-skilled agricultural workers were a substitute for slaves, the increase in the supply of agricultural workers would have decreased
1. The US slave trade was a profitable business for many slave traders, but it had negative effects on the market for US slaves. When new slaves were imported from Africa, the supply of slaves in the US market increased, which caused the price of slaves to decrease. This meant that current US slave owners, who had invested heavily in their slaves, would experience a decrease in the value of their assets. A ban on the import of new slaves would have limited the supply of slaves and kept their value higher.
2. When a wave of low-skilled agricultural immigrants entered the US market, the supply of agricultural workers increased, which caused the price of labor to decrease. This meant that US farmers could hire workers for lower wages, which lowered their costs and increased their profits.
3. If low-skilled agricultural workers were a substitute for slaves, the increase in the supply of agricultural workers would have decreased the demand for slaves. This would have caused the price of slaves to decrease, making them a less attractive option for farmers.
4. It is difficult to say whether the significance of slavery in the US would have declined without the Civil War. However, there were several factors that suggest this could have been the case. The industrialization of the North, the growth of wage labor, and the decline of agriculture as the dominant sector of the economy all made slavery less profitable and less necessary. Additionally, there was growing opposition to slavery among Northern abolitionists and many Southerners also believed that slavery was on the decline. However, it is important to note that the Civil War was the catalyst for the ultimate abolition of slavery in the US.
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The Colorado Copper Company sponsors a defined benefit pension plan. Projected benefit obligation at Jan. 1, 2021 $144 million Service cost for 2021 36 million
Retiree benefits paid (end of year) 30 million
Discount rate 10%
No change in actuarial estimates occurred during 2021. What is CCC's projected benefit obligation at December 31, 2021? Multiple Choice O $164.4 million O $158.4 million O $150.0 million
Answer: option A ($164.4 million)
To calculate the projected benefit obligation at December 31, 2021, we need to consider the following:
1. The projected benefit obligation at the beginning of the year (Jan. 1, 2021) was $144 million.
2. The service cost for the year 2021 is $36 million.
3. There was no change in actuarial estimates during 2021.
4. The discount rate is 10%.
Using the formula for projected benefit obligation, we get:
PBO at Dec. 31, 2021 = PBO at Jan. 1, 2021 + service cost - benefits paid +/- actuarial gains and losses
Since there were no actuarial gains and losses, we can simply add the PBO at Jan. 1, 2021 and the service cost for 2021 to get:
PBO at Dec. 31, 2021 = $144 million + $36 million = $180 million
However, we need to discount this amount to reflect the time value of money using the discount rate of 10%. Therefore, the final answer is:
PBO at Dec. 31, 2021 = $180 million / (1 + 10%) = $163.6 million
Rounded to the nearest million, the projected benefit obligation at December 31, 2021 is $164 million. Therefore, the answer is O $164.4 million.
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abc has the following current assets: cash, $102 million; receivables, $94 million; inventory, $182 million; other current assets, $18 million. abc also has the following liabilities: accounts payable, $98 million; long-term debt, $23 million. based on these amounts, what is the acid-test ratio ?
The acid-test ratio for ABC is approximately 2.18.
To calculate the acid-test ratio, also known as the quick ratio, you need to consider the following current assets: cash, receivables, and other current assets, but exclude inventory. The formula for the acid-test ratio is:
Acid-Test Ratio = (Cash + Receivables + Other Current Assets) / Current Liabilities
Let's calculate it based on the given amounts:
Current Assets:
Cash = $102 millionReceivables = $94 millionOther Current Assets = $18 millionCurrent Liabilities:
Accounts Payable = $98 million
Now, let's calculate the acid-test ratio:
Acid-Test Ratio = ($102 million + $94 million + $18 million) / $98 millionAcid-Test Ratio = $214 million / $98 millionAcid-Test Ratio ≈ 2.18Therefore, the acid-test ratio for ABC is approximately 2.18.
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When a firm uses an established brand to introduce a new product, it is called a brand ________.
A) harmonization
B) valuation
C) extension
D) positioning
E) parity
When a firm uses an established brand to introduce a new product, it is called a C) brand extension.
This process involves leveraging the equity and recognition of an established brand to introduce a new product to the market, with the aim of benefiting from the existing brand awareness and customer loyalty.
The goal is to achieve brand harmonization, whereby the new product aligns with the existing brand's values and positioning to create a cohesive brand identity. So the new product will attract quicker customer awareness and the willingness to trial or sample the product due to association with parent brand.
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The following are the data of Jusko Appliance Co., a VAT-registered taxpayer, for the last quarter of 2020: P 319,200 Sales up to December 15, total invoice price Purchases for November up to December 15, net of input tax 215,000 On December 16, 2020, the taxpayer retired from business. Inventory of P190,000 was left unsold at the time of retirement. There is a deferred input tax of P3,500 from the last quarter. How much is the VAT payable? 27,700 33,004 27,089 28.900
A correct answer is option (3)
To compute the VAT payable, we need to determine the output VAT and input VAT of the taxpayer for the last quarter of 2020.
Output VAT:
The output VAT is the VAT charged on sales or services rendered by the taxpayer.
Output VAT = 12% x Sales
Output VAT = 12% x 319,200
Output VAT = 38,304
Input VAT:
Input VAT is the VAT paid on purchases or expenses incurred by the taxpayer.
Input VAT = Total Input Tax - Deferred Input Tax
Total Input Tax = 12% x Purchases
Total Input Tax = 12% x 215,000
Total Input Tax = 25,800
Input VAT = 25,800 - 3,500
Input VAT = 22,300
VAT Payable:
VAT payable is the difference between the output VAT and input VAT of the taxpayer.
VAT payable = Output VAT - Input VAT
VAT payable = 38,304 - 22,300
VAT payable = 16,004
However, since the taxpayer retired from business and there was an unsold inventory of P190,000 at the time of retirement, the VAT payable should be adjusted based on the provisions of the Tax Code.
Adjusted VAT Payable:
Adjusted VAT payable is the difference between the output VAT and input VAT of the taxpayer, less the value of unsold inventory.
Adjusted VAT payable = Output VAT - Input VAT - (Value of Unsold Inventory x 12%)
Adjusted VAT payable = 38,304 - 22,300 - (190,000 x 12%)
Adjusted VAT payable = 16,004 - 22,680
Adjusted VAT payable = (6,676)
Since the adjusted VAT payable is negative, it means that the taxpayer is entitled to a refund of the excess input VAT paid. Therefore, the correct answer is option 3) 27,089.
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7. A taxpayer sells property in 2019 for $9.000 that has an adjusted basis of $5,000 The purchaser assumes the existing mortgage of $6,000 and signs an installment note for the remaining $3,000, plus interest. The installment payments begin in 2020 7 What is the amount of gain includible in 2019? a. SO o b. $444 OG $1,000 d 4nnn
The amount of gain includible in 2019 is $1,000.
Let's calculate the amount of gain includible in 2019 when a taxpayer sells property for $9,000 with an adjusted basis of $5,000, and the purchaser assumes a mortgage of $6,000 and signs an installment note for the remaining $3,000 plus interest.
Step 1: Determine the total gain from the property sale.
Total gain = Selling price - Adjusted basis
Total gain = $9,000 - $5,000
Total gain = $4,000
Step 2: Calculate the proportion of the installment note to the total selling price.
Proportion = Installment note amount / Selling price
Proportion = $3,000 / $9,000
Proportion = 1/3
Step 3: Calculate the amount of gain includible in 2019.
Amount of gain includible in 2019 = Total gain × Proportion
Amount of gain includible in 2019 = $4,000 × (1/3)
Amount of gain includible in 2019 = $1,333
However, the given options are a. $0, b. $444, c. $1,000, and d. $4,000. Since $1,333 is not among the options, the closest available option is c. $1,000.
Therefore, the amount of gain includible in 2019 is approximately c. $1,000.
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income from services (earned income)
Earned income is an essential part of many people's financial lives, and it is important to understand how it is earned, taxed, and used to support one's financial goals.
Income from services, also known as earned income, refers to the money a person earns by providing services or performing work for someone else. This includes income from wages, salaries, tips, and self-employment. Earned income is the opposite of unearned income, which is income received from sources like investments, rental properties, or other passive income streams.
Earned income can come from a variety of sources, including full-time or part-time employment, freelance work, consulting, or running a business. The amount of earned income a person receives is typically based on their skills, experience, and the market demand for their services.
One important aspect of earned income is that it is subject to various taxes, including income tax, Social Security tax, and Medicare tax. This means that individuals who earn a higher income from services will typically pay a higher percentage of their income in taxes compared to those who earn less.
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_____ relates to the learner's decision regarding what information to attend to, how to remember, and how to solve problems.
Cognition relates to the learner's decision regarding what information to attend to, how to remember, and how to solve problems.
Cognition refers to the mental processes and abilities involved in acquiring, processing, storing, and using information. It involves attention, perception, memory, problem-solving, and decision-making. Cognition is important for learning and development, as it allows individuals to understand, process, and apply new information and skills.Cognitive processes can be influenced by various factors, including motivation, interest, prior knowledge, learning style, and environmental factors. Effective instructional design and teaching strategies take into account the cognitive processes involved in learning and aim to support learners in acquiring and using new knowledge and skills.
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suppose you have just borrowed $51,391 at an annual interest of 7.1% and must repay the loan in equal installments at the end of each of the next 8 years. by how much would you reduce the amount you owe (that is, principal) at the end of the first year? (hint: compute annual loan payment first and then the loan amortization schedule for the first year.)
The amount by which the principal will be reduced at the end of the first year is $5,535.78.
To calculate the amount by which the principal will be reduced at the end of the first year, we need to compute the annual loan payment first. This can be done using the formula for the present value of an annuity:
PMT = PV * (r / (1 - (1 + r)⁽⁻ⁿ⁾)
where:
PV = present value of the loan = $51,391
r = annual interest rate = 7.1% = 0.071
n = number of payments = 8
PMT = $9,186.94 (rounded to the nearest cent)
Using the loan amortization schedule for the first year, we can calculate the amount by which the principal will be reduced at the end of the year. The loan amortization schedule shows the breakdown of each payment into principal and interest components.
For the first payment, the interest component is:
Interest = Outstanding balance * Interest rate
= $51,391 * 0.071
= $3,651.16
The principal component is:
Principal = Payment - Interest
= $9,186.94 - $3,651.16
= $5,535.78
Therefore, the amount is $5,535.78.
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the arithmetic average tells you what you actually earned per year on average, whereas the geometric average tells you what you earned in a typical year. truefalse
True, the arithmetic average tells you what you actually earned per year on average, while the geometric average provides an indication of what you earned in a typical year.
The arithmetic average, also known as the mean, is calculated by adding the returns for each year and dividing the total by the number of years. This gives you the average return per year, which can be useful for comparing the performance of different investments over the same time period. However, the arithmetic average can be affected by extreme values or outliers, which can skew the results.
The geometric average, on the other hand, takes into account the compounding effect of returns over time. It is calculated by multiplying the returns for each year and taking the nth root, where n is the number of years. This gives you the average annual growth rate of the investment, which is more representative of the overall performance of the investment over the time period. The geometric average is often used to calculate long-term returns, such as those for retirement savings.
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If n=210 and p (p-hat) -0.88, find the margin of error at a 99% confidence level Give your answer to three decimals Submit Question
The margin of error is a measure of how much the sample mean might differ from the true population mean. To calculate the margin of error, we need to use the formula: Margin of Error = z* (standard error)
Where z* is the critical value for a 99% confidence level and the standard error is the standard deviation of the sampling distribution.
To find the critical value, we can use a z-table or a calculator. For a 99% confidence level, the critical value is 2.576. Next, we need to calculate the standard error. The formula for the standard error is: Standard Error = sqrt[(p-hat*(1-p-hat))/n]
Substituting the given values, we get: Standard Error = sqrt[(0.88*(1-0.88))/210] = 0.033. Finally, we can calculate the margin of error: Margin of Error = 2.576 * 0.033 = 0.085.
Therefore, the margin of error at a 99% confidence level is 0.085.
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When buyers, real estate brokers, and mortgage leaders were dishonest about the ability of people to pay their mortgages, it led to:
When buyers, real estate brokers, and mortgage leaders were dishonest about the ability of people to pay their mortgages, it led to a housing market bubble and ultimately a financial crisis.
When buyers, real estate brokers, and mortgage lenders were dishonest about the ability of people to pay their mortgages, it led to an increased number of high-risk loans being approved. This, in turn, contributed to the housing market crash and the subsequent financial crisis.
This dishonesty included providing false or misleading information about income, employment status, and credit history, which allowed people to obtain mortgages they could not afford. As a result, many homeowners defaulted on their mortgages, leading to a wave of foreclosures and a significant decline in property values.
The consequences of this dishonesty were severe and long-lasting, affecting not just the housing market but the entire economy.
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companies conduct time and motion studies and use benchmarks from other companies when developing standards. question content area bottom part 1 true false
The give statement " Companies conduct time and motion studies and use benchmarks from other companies when developing standards." is True.statement suggests that companies conduct time and motion studies and benchmarks from other companies when developing standards.
Time and Motion Study: Time and motion studies are conducted by companies to analyze and optimize work processes. These studies involve observing and analyzing the tasks, movements, and time required to complete specific activities or processes.
By conducting these studies, companies can identify inefficiencies, eliminate waste, and improve productivity. Time and motion studies help in setting realistic and achievable standards for work performance.
Benchmarking: Benchmarking involves comparing an organization's processes, practices, and performance against those of other companies or industry standards. By benchmarking, companies can identify best practices, areas for improvement, and performance gaps
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a) Explain what is the uncovered interest rate parity and underwhat conditions may investors profit from borrowing in one currencyin order to invest in another currency.b) Explain whether the theor etical price of a share is dependent on the investment time horizon of the investor.
The theoretical price of a share is not dependent on the investment time horizon of the investor.
Uncovered interest rate parity refers to the difference in interest rates between two currencies should be equal to the expected change in the exchange rate over a given period of time.
Under this condition, investors cannot make a profit by borrowing in one currency to invest in another, as the expected return is equalized by the difference in interest rates. However, if the expected change in the exchange rate differs from what is implied by the interest rate differential, investors may be able to profit by borrowing in the currency with the lower interest rate and investing in the currency with the higher interest rate.
The price of a share reflects the underlying value of the company, which is determined by factors such as its earnings, assets, and growth prospects. While short-term market fluctuations may affect the price of a share, the long-term value of the company should remain relatively stable. Therefore, investors with different investment time horizons may have different strategies for buying and selling shares, but the theoretical price of the share remains the same regardless.
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in your textbook, the authors discuss a classic job characteristics model put forth by hackman and oldham that promotes three critical psychological states. which of the following are among those psychological states?
Three psychological states are crucial for employee motivation, satisfaction, and performance, according to Hackman and Oldham's classic job characteristics model.
1. Experienced meaningfulness of the work: This refers to the extent to which an employee perceives their job as meaningful, valuable, and worthwhile.
2. Experienced responsibility for work outcomes: This refers to the degree to which an employee feels personally responsible and accountable for the results of their job model .
3. Knowledge of results: This refers to the extent to which an employee is aware of and understands the impact and effectiveness of their job performance.
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A $30,000.00 invoice indicating a string discount of 30, 20, and 5 would, assuming all discounts are taken, give the producer a net selling price of Select one: a. $21,000.00 b. $16,800.00 c. $15,960.00. d. $13,500.00
The invoice indicates a string discount of 30, 20, and 5. This means that the discounts will be applied in a specific order, one after the other. To calculate the net selling price of the invoice, we need to apply the discounts in the order they are given. This is important because applying the discounts in a different order could result in a different net selling price.
The first discount is 30%, which means that the producer will pay only 70% of the original price. This is equivalent to a 30% reduction in the price. To calculate the discounted price, we multiply the original price by 70%:
Discounted price = Original price x (100% - Discount %)
Discounted price = $30,000.00 x (100% - 30%)
Discounted price = $30,000.00 x 70%
Discounted price = $21,000.00
The second discount is 20%, which means that the producer will pay only 80% of the discounted price. This is equivalent to a 20% reduction in the price. To calculate the new discounted price, we multiply the discounted price by 80%:
New discounted price = Discounted price x (100% - Discount %)
New discounted price = $21,000.00 x (100% - 20%)
New discounted price = $21,000.00 x 80%
New discounted price = $16,800.00
The third and final discount is 5%, which means that the producer will pay only 95% of the new discounted price. This is equivalent to a 5% reduction in the price. To calculate the net selling price, we multiply the new discounted price by 95%:
Net selling price = New discounted price x (100% - Discount %)
Net selling price = $16,800.00 x (100% - 5%)
Net selling price = $16,800.00 x 95%
Net selling price = $15,960.00
Therefore, the correct answer is c. $15,960.00.
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(Please No handwriting, Please type the answers)
A. What is a mark-up and VAT?
B. A retailer buys a table from the wholesaler at OMR 210 and the wholesaler charges a VAT at the rate prescribed rate of 5%. The retailer fixes the price at OMR 250 and charges VAT at the same rate. Answer the following questions.
1. What is the price that a consumer must pay to buy the table?
2. How much is the input and output tax?
3. How much VAT does the retailer pay to the government?
A. Mark-up is the difference between the cost price and the selling price of a product. VAT (Value Added Tax) is a type of tax that is added to the value of goods or services at each stage of production or distribution.
B.
1. The price that a consumer must pay to buy the table is OMR 262.50.
2. Input tax = OMR 10.50
Output tax = OMR 12.50
3. The retailer pays OMR 2 in VAT to the government.
A.
Mark-up: The difference between the cost price of a product and its selling price. It is the amount added to the cost price to cover the overheads and profits of the retailer.
VAT (Value Added Tax): It is a tax that is charged on the value added to a product at each stage of the production and distribution process. It is ultimately paid by the end consumer.
B.
The price that a consumer must pay = Selling price + VAT
Selling price = OMR 250
VAT = 5% of selling price = 5% of OMR 250 = OMR 12.50
Price that a consumer must pay = OMR 250 + OMR 12.50 = OMR 262.50
Input tax:
The retailer pays input tax on the purchase of the table from the wholesaler. Input tax is the tax paid on purchases and is deducted from the tax collected on sales. Input tax = 5% of OMR 210 = OMR 10.50
Output tax:
The retailer collects output tax on the sale of the table to the consumer. Output tax is the tax collected on sales. Output tax = 5% of OMR 250 = OMR 12.50
VAT payable to the government:
VAT payable to the government = Output tax - Input tax
VAT payable to the government = OMR 12.50 - OMR 10.50 = OMR 2.00
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suppose that tin the coming year, you expect exxon-mobil stock to have a volatility of 42% and a beta of 0.9, and Merck's stock to have a volatility of 24% and a beta of 1.1. The risk-free interest rate is 4% and the markets expected return is 12%. Which stock has the highest systematic risk?1) merck since it has a higher beta2) exxon-mobil since it has a lower beta3) exxon-mobil since it has a higher volatility4) merck since it has a lower volatility
The stock with the highest systematic risk would be Merck, since it has a higher beta of 1. Hence the correct option is 1.
ExxonMobil Corporation, also known as Exxon, is a global oil and gas company with headquarters in Spring, Texas, in the United States. It was created on November 30, 1999, by the merging of Exxon and Mobil, both of which are currently utilised as retail brands with Esso for petrol stations and downstream products. It is the largest direct descendent of John D. Rockefeller's Standard Oil. The business has vertical integration throughout the whole oil and gas sector, and it also has a chemicals segment that manufactures flexible, rubber that is synthetic, and other chemical goods. Incorporated in New Jersey is ExxonMobil.
1 compared to Exxon-Mobil's beta of 0.9. Beta measures a stock's sensitivity to market movements, so a higher beta indicates a higher level of systematic risk. Volatility, on the other hand, measures a stock's overall variability, but does not necessarily reflect systematic risk. Therefore, the fact that Exxon-Mobil has a higher volatility of 42% compared to Merck's 24% does not affect their levels of systematic risk.
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61. The starting point and major responsibility for career development lies with:
A. the organization.
B. the human resource department.
C. the employee.
D. the immediate supervisor or manager.
E. the situation.
The starting point and major responsibility for career development lies with the employee.
While the organization, human resource department, immediate supervisor or manager, and situation may play a role in career development, ultimately the responsibility falls on the employee to take ownership of their own career growth and development. The employee should actively seek out opportunities for learning and growth, set goals for themselves, and communicate their career aspirations to their supervisor or manager. However, the organization, human resource department, and immediate supervisor or manager should also provide support and resources to aid in the employee's career development.
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When a brokerage has a large number of transactions, accurate records help the broker remember how much ________ is held for each client.
When a brokerage has a large number of transactions, accurate records help the broker remember how much money is held for each client.
A brokerage refers to a financial institution or firm that facilitates the buying and selling of various financial instruments, such as stocks, bonds, and mutual funds, on behalf of clients.
Brokers act as intermediaries between buyers and sellers, executing trades and providing investment advice and services to their clients.
Brokers are individuals or firms that facilitate the buying and selling of financial assets on behalf of clients. They act as intermediaries, executing trades and providing investment advice and services to help clients achieve their financial goals.
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What are the traits of a moral manager?
A. Consistent and persuasive communication with employees
B. Reward employees for performance
C. Acting rightly based on provisions in the code of conduct
D. Inclusiveness
The correct answer is A. Consistent and persuasive communication with employees. The traits of a moral manager can be summarized as a set of behaviors and values that guide their actions towards ethical and responsible decision-making.
A moral manager should possess certain traits that are essential for promoting a culture of integrity and accountability within the organization. One of the key traits of a moral manager is consistent and persuasive communication with employees. Effective communication helps to build trust, transparency, and a shared sense of purpose among employees. Another important trait is the ability to reward employees for performance. By recognizing and incentivizing positive behavior, moral managers can reinforce the values and principles that are integral to the organization's mission. Additionally, a moral manager must act rightly based on provisions in the code of conduct. This means upholding ethical standards, ensuring compliance with legal and regulatory requirements, and promoting a culture of ethical behavior. Lastly, a moral manager should embody inclusiveness. By embracing diversity and promoting a sense of belonging, they can foster a positive work environment that values the contributions of all employees. In conclusion, the traits of a moral manager are integral to promoting a culture of integrity, accountability, and responsible decision-making within the organization. These traits include consistent and persuasive communication, rewarding employees for performance, acting rightly based on provisions in the code of conduct, and embracing inclusiveness.
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Given the trend toward employee empowerment in the workplace, more and more employees are finding the _____ theory useful.equitymotivator-hygieneexpectancyscientific managementgoal-setting
Hi! Given the trend toward employee empowerment in the workplace, more and more employees are finding the goal-setting theory useful.
The goal-setting theory is a motivational framework that emphasizes the importance of setting specific, challenging, and achievable goals for employees to work towards.
This theory is based on the idea that when employees have clear and measurable objectives, they are more likely to be motivated, engaged, and committed to their work.
The goal-setting theory consists of the following steps:
1. Set specific goals: Clearly define the objectives and desired outcomes that employees should aim for.
2. Set challenging goals: Goals should be difficult but attainable, pushing employees to improve their performance.
3. Provide feedback: Regularly review progress towards goals and provide constructive feedback to help employees stay on track.
4. Ensure goal commitment: Make sure employees understand and are committed to the goals, as they are more likely to work towards them when they feel personally invested.
5. Adjust goals as needed: Periodically review and adjust goals as necessary to maintain relevance and motivation.
In summary, the goal-setting theory is useful for employee empowerment in the workplace because it encourages employees to take ownership of their work and strive for continuous improvement.
By setting specific, challenging, and achievable goals, employees are more likely to feel motivated and engaged, ultimately contributing to a more empowered and productive workforce.
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the petty cash account is a(n)_______ account, meaning it always has the same balance in the general ledger.
The petty cash account is considered a constant balance account, meaning it always has the same balance in the general ledger..
This means that it always has the same balance in the general ledger, which is typically equal to the amount of cash that has been set aside for minor expenses or emergencies.
The purpose of a petty cash fund is to provide quick access to small amounts of cash that can be used to cover unexpected expenses without having to go through the formal process of requesting reimbursement from a larger account.
By keeping a constant balance in the petty cash account, companies can more easily track and monitor these small expenses and ensure that they are properly recorded in their financial statements.
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relative approach to defining poverty states that poverty will persist as long as income inequality exists. (True or False)
True. The relative approach to defining poverty acknowledges that poverty is not just a lack of income, but also a lack of access to basic needs and opportunities compared to the rest of society.
This approach recognizes that poverty is not solely an individual issue, but a systemic issue that is perpetuated by income inequality and unequal distribution of resources. As long as income inequality exists, the gap between the rich and poor will continue to widen, and those in poverty will struggle to meet their basic needs and improve their standard of living. Therefore, a relative approach to defining poverty emphasizes the need for policies and interventions that address income inequality and promote greater equity in access to resources, opportunities, and social services. Only by addressing these underlying systemic factors can poverty be effectively reduced and ultimately eliminated.
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Your risk assessment of Meteor Ltd’s business processes indicates that there is a risk that payments to suppliers are made prior to goods being received. As part of your examination of the information system and related control activities, you note that the following process is in place in relation to payments:
- A pre-numbered bank transfer requisition is prepared by accounting staff for all payments.
- Accounting staff then:
* match the details on the supplier’s invoice to the appropriate receiving report; and
* match the details on the supplier’s invoice and receiving report to an authorises purchase order.
- The bank transfer requisition, together with the above supporting documents, is then forwarded to the appropriate senior staff member for review and authorisation.
Required:
a. Identify the internal control activity that addresses the risk of payments being made to suppliers before the goods are delivered.
b. What assertion does this internal control address?
Risks in payment systems refer to the possibility of payments being incomplete. The impact can be measured in terms of damaging value or level of confidence in payment systems.
a. The internal control activity that addresses the risk of payments being made to suppliers before the goods are delivered is the matching process performed by the accounting staff. They are required to match the details on the supplier's invoice to the appropriate receiving report, and also match the details on the supplier's invoice and receiving report to an authorized purchase order. This control ensures that payments are only made when goods have been received and properly documented.
b. The assertion that this internal control address is the occurrence assertion. The occurrence assertion states that transactions and events recorded in the financial statements have actually occurred and pertain to the entity. By implementing this internal control, Meteor Ltd is ensuring that payments to suppliers are only made when there is proper documentation that goods have been received, thus addressing the risk of payments being made prior to goods being received.
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We didn’t discuss seriously the three ladies’ (Cooper, Rowley, and Watkins) professional situations and the handling of their situations and Whistleblowers in general. So now I leave it to you… (yeah, you have to read it now!) What striking thing(s) [if any] have you taken away from these ladies’ experiences? Briefly explain. Why are whistleblowers practically often up the creek without a paddle, despite SOX? Explain. If you would be so kind, please explain to me- in your opinion- which of the three ladies displayed the most courage and why?
Overall, these women's experiences highlight the importance of speaking out against unethical practices and the need for stronger protections for whistleblowers. It takes immense bravery to do so, but it is necessary for promoting transparency and accountability in the workplace.
After reviewing the situations of Cooper, Rowley, and Watkins, the most striking thing I took away was the immense courage and bravery that these women displayed in standing up against unethical practices in their respective companies. It is not easy to speak out against your employer, especially when you risk losing your job and facing backlash from colleagues and superiors.
Unfortunately, whistleblowers are often left without much protection despite the existence of SOX (Sarbanes-Oxley Act). Companies may retaliate against whistleblowers by firing them, blacklisting them from future job opportunities, or even suing them for defamation.
In my opinion, Sherron Watkins displayed the most courage out of the three ladies. As a former Vice President at Enron, she was one of the first whistleblowers to come forward and expose the fraudulent accounting practices at the company. She risked her career and reputation to do what she felt was right, even though it was a difficult and unpopular decision.
Overall, these women's experiences highlight the importance of speaking out against unethical practices and the need for stronger protections for whistleblowers. It takes immense bravery to do so, but it is necessary for promoting transparency and accountability in the workplace.
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Grygiel Company leases a nonspecialized machine with a fair value of $50,000 to Baker Company. The lease has a life of 6 years and requires a $10,000 payment at the end of each year. The lease does not include a transfer of ownership nor a bargain purchase option, and the life of the lease is less than a major part of the expected economic life of the machine. It is probable that Grygiel will collect the lease payments plus any amount necessary to satisfy a residual value guarantee. Round your answers to the nearest dollar.
1. If the interest rate implicit in the lease is 10%, compute the machine’s expected residual value.
The expected residual value of the machine is $11,830.
Using the information given, we can calculate the present value of the lease payments using the formula:
PV of lease payments = lease payments x present value annuity factor
PV of lease payments = $10,000 x 4.355 = $43,550
Next, we can calculate the initial value of the machine by subtracting the PV of lease payments from the fair value of the machine:
Initial value of machine = $50,000 - $43,550 = $6,450
To calculate the expected residual value, we need to find the future value of the initial value of the machine at the end of the lease term (6 years) using the interest rate implicit in the lease (10%). We can use the formula:
FV = PV x (1 + r)^n
where r is the interest rate, and n is the number of periods.
FV = $6,450 x (1 + 0.10)^6 = $11,829.68
Therefore, the expected residual value of the machine is $11,830.
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Private property
A. are not legally enforceable in the U.S.
B. does everything indicated in the other choices.
C. discourages exchange since people must get government approval before buying property.
D. are sustained by the right of individuals to designate who will receive their property when they die.
Private property refers to assets, possessions, and resources that are owned by individuals or businesses, rather than by the government or public institutions. In the United States, private property rights are legally enforceable and protected by the Constitution.
This means that individuals have the right to own and control their property, use it as they see fit, and exclude others from using it without their permission. Private property rights are sustained by the right of individuals to designate who will receive their property when they die, which is known as the right of inheritance. This provides a strong incentive for individuals to invest in and improve their property, as they can pass it on to their heirs. Private property also plays a crucial role in encouraging exchange and trade, as individuals are able to buy, sell, and exchange their property with others in the marketplace. While there may be some government regulations and restrictions on the use and transfer of private property, these are typically designed to protect public health, safety, and welfare, rather than to discourage exchange or limit individual rights. Overall, private property rights are a fundamental aspect of American society and are critical to promoting individual liberty, economic growth, and social welfare.
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jackson transfers his business accounts receivable to friendly finance company. friendly would be considered the assignee. True or False
True. In this scenario, Jackson is transferring his business accounts receivable to Friendly Finance Company, which means that Friendly Finance Company is becoming the assignee of those accounts receivable.
An assignee is a person or entity to whom a right or property is transferred by another person or entity, known as the assignor and this process is known as assignment.In this case, Jackson is the assignor and Friendly Finance Company is the assignee. When a company transfers its accounts receivable to a finance company, it is known as factoring. Factoring is a financial transaction where a company sells its accounts receivable to a third party, usually a finance company, in exchange for immediate cash. The finance company then takes over the responsibility of collecting the payments from the customers who owe the money to the company.
By factoring its accounts receivable, a company can improve its cash flow and access immediate funds that can be used for various purposes, such as paying bills, purchasing inventory, or investing in the business. However, factoring also comes with some costs and risks, such as fees charged by the finance company and the possibility of losing some customers who may not like the idea of their debts being sold to a third party.
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Calculate the mean imu) of X for the following discrete probability mass function (0.0, 0.2.04.0.6) and f(x) (0.24 0.22 0.24, 0.30) Your answer 0389 0.040 0.301 00340 0.560 0.357 0.592 0.532 0.320 0510
Answer : mean =0.320
To calculate the mean (mu) of X for the given discrete probability mass function X={ (0.0, 0.2, 0.4, 0.6) } and f(x) ={(0.24, 0.22, 0.24, 0.30)}, follow these steps:
1. Multiply each value of X with its corresponding probability in f(x):
(0.0 * 0.24) + (0.2 * 0.22) + (0.4 * 0.24) + (0.6 * 0.30)
2. Add the results of the multiplications:
(0) + (0.044) + (0.096) + (0.18)
3. The sum is the mean (mu) of the probability mass function:
0.044 + 0.096 + 0.18 = 0.320
The mean (mu) of X for the given discrete probability mass function is 0.320.
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