A shared computer is not a mitigation best practice for online banking risks (option a).
Using a shared computer, such as a public computer or one used by multiple individuals, increases the risk of unauthorized access to sensitive financial information. It is recommended to avoid using shared computers for online banking transactions to minimize the risk of data breaches, identity theft, and unauthorized access to accounts.
On the other hand, options B, C, and D are all recognized best practices for mitigating online banking risks:
B. Authentication security: Implementing strong authentication measures, such as two-factor authentication, helps ensure that only authorized individuals can access online banking accounts.
C. Site encryption: Using secure HTTPS encryption protocols on banking websites adds an extra layer of protection by encrypting the data transmitted between the user's device and the bank's servers, making it more difficult for unauthorized parties to intercept and decipher.
D. Virus scanning: Regularly scanning devices for viruses and malware helps detect and remove any malicious software that could compromise the security of online banking activities. Keeping antivirus software up to date is an important practice to protect against known threats.
Therefore, the correct answer is A. A shared computer.
The complete question is:
Which of the following is NOT a mitigation best practice for online banking risks?
A. A shared computer
B. Authentication security
C. Site encryption
D. Virus scanning
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When internal auditors report audit findings there are certain attributes, for each finding, that needs to be taken into account. These attributes are:
1. Criteria
2. Condition
3. Cause
4. Effect
5. Recommendation
6. Action taken
The ten sentences which follow are extracts from an internal auditor's working papers.
1. After the bank reconciliation was made, four bank errors that had gone undetected for as long as five months were disclosed.
2. In the future the accountant will check and approve monthly bank reconciliations.
3. It is company policy for the accounting department to make monthly reconciliations of all bank accounts.
4. The bank statements and cancelled cheques are delivered to the accounting department on the 5 th of each month.
5. The clerk responsible, for doing bank reconciliations, does not really know how to complete bank reconciliations.
6. We found that the last reconciliation of the payroll account had been made six months before the date of our audit.
7. The difference between the balance per bank statement and the ledger account was R12 876
8. A test of 437 transactions showed that 25 were incorrect.
9. We discussed the matter with the manager of the accounting department and he issued instructions that the bank and ledger accounts promptly be reconciled.
10. Before we completed our audit the accounts were reconciled.
11. The manager of the accounting department had given a low priority to bank reconciliations.
Criteria, 2. Condition, 3. Cause, 4. Effect, 5. Recommendation, 6. Action taken. When internal auditors report audit findings, they consider certain attributes for each finding.
In the given extracts, these attributes can be identified. For example, in extract 1, the condition is the disclosure of four undetected bank errors, the cause could be inadequate reconciliation procedures, and the effect could be financial misstatements. The recommendation could be to improve reconciliation processes, and the action taken may involve checking and approving reconciliations (extract 2). These attributes help provide a comprehensive understanding of the audit findings and guide the organization in taking corrective actions. Recommendation: Proposed actions or measures to address the identified condition and mitigate risks. Action taken: Any actions already implemented or planned to address the finding.
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refer to the table above. Nebraska and Virginia each have 100 acres of farmland. The table gives the hypothetical figures for yield per acre in the two states. For the next four problems, you will find actual points on the combined PPC of the two states. You will be given a value of one good, and you must calculate the maximum amount of the other good that the two states could produce working together. 400 Wheat: 980 Cotton 1320 Cotton 860 Cotton 1160 Cotton None of the above 480 Cotton: 720 Wheat 840 Wheat 960 Wheat 1080 Wheat None of the above 1200 Cotton: 100 Wheat 200 Wheat 300 Wheat 400 Wheat None of the above 1100 Wheat: 250 Cotton 350 Cotton 450 Cotton 550 Cotton None of the above In Virginia, what is the marginal rate of transformation between wheat and cotton? (Assume wheat is graphed on the vertical axis.) −0.5 −0.666 −1 −1.5
To find the marginal rate of transformation (MRT) between wheat and cotton in Virginia,
we need to calculate the slope of the production possibilities curve (PPC) for Virginia at the given points. The MRT represents the rate at which one good can be substituted for the other while keeping total production constant. Let's consider the given values for Virginia's production:- 480 Cotton: 720 Wheat - 840 Wheat: 960 Cotton To calculate the MRT, we'll use the formula: MRT = (Change in Cotton) / (Change in Wheat) MRT = (960 - 720) / (840 - 480) MRT = 240 / 360 MRT = 2/3 Therefore, the marginal rate of transformation between wheat and cotton in Virginia is 2/3.
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A logistics company began moving trucks and supplies into position nearly a week before a hurricane hit the city, as specified in the company's _____ plan.
The logistics company started moving trucks and supplies into position almost a week before the hurricane hit the city. They had been following the protocol specified in the company's evacuation plan.
Logistics company is a professional organization which is responsible for transporting goods or merchandise from one place to another. In addition, logistics management refers to the process of managing the movement, distribution, and storage of goods or merchandise from the point of origin to the point of consumption. Companies must have an evacuation plan in place in the event of a natural disaster.
These strategies will be critical in ensuring the security and safety of their workers, trucks, and supplies, as well as maintaining the continuity of operations. As a result, the logistics company's hurricane preparedness plan involves moving trucks and supplies into position nearly a week before the hurricane strikes.
The company wants to make certain that their trucks and supplies are in good working order and are available to aid in the evacuation of those in need, as well as to prevent harm to their workers and equipment.
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The logistics company began moving trucks and supplies into position nearly a week before the hurricane hit the city, as specified in their disaster preparedness plan.
Explanation:The logistics company's plan that is mentioned in the question is the disaster preparedness plan. This plan outlines the necessary steps the company takes to prepare for a potential disaster, such as a hurricane. By beginning to move trucks and supplies into position nearly a week before the hurricane hits the city, the company is following their disaster preparedness plan.
In a disaster preparedness plan, companies consider factors such as the anticipated impact of the disaster, the necessary resources and supplies needed to continue operations, and the safety of employees and assets. By implementing this plan, the logistics company increases their chances of effectively responding to the hurricane and minimizing potential damages.
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The New York Times (Nov. 30, 1993) reported that "the inability of OPEC to agree last week to cut production has sent the oil market into turmoil... [leading to] the lowest price for domestic crude oil since June 1990."
Statements. True/False
The members of OPEC were trying to agree to cut production so they could save more oil for the future.
OPEC was unable to agree on cutting production because each country has an incentive to cheat on any agreement.
The newspaper also noted OPEC's view "that producing nations outside the organization, like Norway and Britain, should do their share and cut production."
What does the phrase "do their share" suggest about OPEC's desired relationship with Norway and Britain?
a OPEC would like Norway and Britain to join the cartel.
b OPEC would like Norway and Britain to act competitively.
c OPEC would like Norway and Britain to keep their production levels high.
Statements:
1. False. The members of OPEC were trying to agree to cut production to stabilize oil prices and increase their revenue in the short term, rather than specifically saving more oil for the future.
2. True. OPEC was unable to agree on cutting production because each country has an incentive to cheat on any agreement, as reducing production would mean a loss of revenue for individual countries while others might not adhere to the agreed-upon quotas.
OPEC's main objective is to regulate oil prices by controlling the global oil supply. The inability to agree on production cuts indicates that the member countries were not primarily concerned with saving more oil for the future but rather with their immediate financial interests.
Each member has its own economic considerations, and cutting production means reduced revenue, especially if other countries do not adhere to the agreed-upon quotas.
This creates an incentive for individual countries to exceed their assigned production limits and benefit from higher oil prices.
Regarding the phrase "do their share," it suggests that OPEC would like Norway and Britain, which are producing nations outside the organization, to contribute to stabilizing oil prices by reducing their own production levels.
By using the term "share," OPEC implies that all oil-producing nations, both within and outside the organization, should shoulder the responsibility of balancing the global oil market.
OPEC's desired relationship with Norway and Britain, as implied by the phrase, is for these countries to actively participate in coordinated production cuts and align their actions with OPEC's objectives.
Thus, the answer is option (a) - OPEC would like Norway and Britain to join the cartel and collaborate in managing oil production.
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FILL THE BLANK.
If you want to ensure that you pass an initial screening interview, ___________.
If you want to ensure that you pass an initial screening interview, it is important to be well-prepared and thoroughly research the company and the role you are applying for.
Additionally, you should practice your responses to common interview questions and be able to articulate your skills, qualifications, and experiences effectively. It is also crucial to demonstrate a positive attitude, professionalism, and enthusiasm during the interview.
Lastly, make sure to dress appropriately, maintain good eye contact, and actively listen to the interviewer.
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the united states is an outlier from its traditional competitors in which demographic way?
The United State stands out demographically from its traditional competitors due to its higher birth rate, resulting in a younger population on average.
The demographic way in which the United States is an outlier from its traditional competitors is that it has a higher birth rate than most other developed countries. This means that the United States has a younger population on average than its traditional competitors.
What are traditional competitors?
Traditional competitors refer to countries that have similar economic development and are therefore in direct competition with the United States. These countries include Japan, Germany, France, and the United Kingdom. These countries have many similarities in terms of demographics and economic development. For example, they all have aging populations and low birth rates.
What is demographic?
The term demographic refers to the study of human populations in terms of their size, structure, and distribution. This includes factors such as age, gender, ethnicity, income, and education level. Demographic data can be used to understand population trends and make predictions about future population growth and development.
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Consider the market for cat food in Gombak. The demand function is P = 60- 0.21q and the supply is given by P = 7.1-0.04q, An excise tax, t, of RM8.00 is imposed on the market. Determine: The prices paid by the consumers and received by the firms. (10 pts) The the burden of the tax on the consumers and firms. (5 pts) The tax revenue and the excess burden. (5 pts) If the same tax is imposed on the consumers instead, would the distribution of the incidence be different? Explain. (5 pts)
Price paid by consumers = P + t = (60 - 0.21q) + 8 = 68 - 0.21q
To determine the prices paid by consumers and received by firms, we need to analyze the effects of the excise tax on the market.
The demand function is P = 60 - 0.21q, where P represents the price and q represents the quantity demanded. The supply function is P = 7.1 - 0.04q, where P represents the price and q represents the quantity supplied.
With the excise tax of RM8.00 imposed on the market, we need to account for the tax in the equations:
For consumers:
Price paid by consumers = P + t = (60 - 0.21q) + 8 = 68 - 0.21q
For firms:
Price received by firms = P = 7.1 - 0.04q
To determine the burden of the tax on consumers and firms, we need to compare the prices before and after the tax imposition:
Before the tax:
Consumer price: P = 60 - 0.21q
Firm price: P = 7.1 - 0.04q
After the tax:
Consumer price: 68 - 0.21q
Firm price: 7.1 - 0.04q
The burden of the tax on consumers is the difference between the consumer price before and after the tax (68 - 0.21q - (60 - 0.21q)) = 8.
The burden of the tax on firms is the difference between the firm price before and after the tax (7.1 - 0.04q - 7.1) = 0.
The tax revenue is calculated by multiplying the tax rate (RM8.00) by the quantity sold in the market.
Tax revenue = t * q = 8 * q
The excess burden, also known as the deadweight loss, represents the loss of consumer and producer surplus due to the distortion created by the tax. It occurs when the quantity transacted in the market decreases due to the tax.
If the same tax is imposed on the consumers instead, the distribution of the incidence would likely be different. The burden would be directly placed on the consumers, who would have to pay a higher price (including the tax) for the cat food. The price received by the firms would remain the same, as they would receive the original price without the tax. The burden of the tax on the firms would be eliminated in this case.
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for most products and services, increased price results in
Demand often declines when prices rise for most goods and services. The law of demand, which describes this relationship, argues that, assuming other things remain constant, as the price of a good or service rises, the quantity sought falls.
Consumers typically view an increase in price as making the good or service less desirable or affordable, which lowers their willingness to buy it. This can be ascribed to a number of things, including financial limitations, competing options, and consumer preferences. As a result, in order to maximise income and accomplish their corporate goals, firms must carefully analyse price elasticity of demand and determine the best pricing plan that strikes a balance between profitability and market demand.
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In the PDF case study, how did Pearson use cloud computing?
In the PDF case study, Pearson utilized cloud computing in several ways. Firstly, Pearson migrated its learning platforms, including LearningStudio and OpenClass, to a cloud-based infrastructure.
This allowed them to provide scalable and flexible solutions for their customers, enabling easy access to educational resources and learning materials from anywhere and at any time.Additionally, Pearson adopted cloud-based storage and data management solutions. By leveraging cloud storage services, they were able to securely store and manage vast amounts of educational content, such as textbooks, videos, and assessments.
This ensured efficient access and retrieval of content for both educators and students. Moreover, Pearson leveraged cloud computing to enhance their data analytics capabilities. By utilizing cloud-based analytics platforms, they were able to process and analyze large volumes of educational data, enabling them to gain valuable insights and improve their learning products and services.
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On September 30,2021 , Bricker Enterprises purchased a machine for $215,000. The estimated service life is 10 years with a $24.000 residual value. Bricker records partial-year depreciation based on the number of months in service. Depreciation for 2021, using the double-declining-balance method, would be: (Do not round intermediate calculations.)
The depreciation expense for 2021, using the double-declining-balance method, would be $2,038,500.
Bricker Enterprises purchased a machine for $215,000 on September 30, 2021. The estimated service life of the machine is 10 years with a residual value of $24,000. The depreciation recorded by Bricker Enterprises based on the double-declining balance method for the year 2021 can be calculated using the following steps:
The depreciation rate is 2 times the straight-line depreciation rate. The formula for straight-line depreciation rate is:(Cost - Residual Value) / Estimated Service Life= (215,000 - 24,000) / 10= $19,100 per year. The double-declining-balance depreciation rate is two times the straight-line depreciation rate= 2 × $19,100= $38,200. The depreciation expense for a partial year is calculated by multiplying the annual depreciation by a fraction representing the proportion of the year for which the asset was in service. In this case, the machine was purchased on September 30, 2021.Thus, the machine was in service for three months (October, November, and December).The fraction of a year for three months is 3/12 or 0.25.Therefore, depreciation expense for 2021, using the double-declining-balance method, would be= Depreciation Rate × Fraction of the year × Cost= $38,200 × 0.25 × $215,000= $2,038,500.
The depreciation expense for 2021, using the double-declining-balance method, would be $2,038,500.
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Part (a) It is said that the Indian who sold Manhattan for $24 was a sharp salesman. If he had put his $24 away at 6% compounded semiannually, it would now be worth more than $9 billion, and he could buy most of the now-improved land back! Assume that this seller invested on January 1, 1701, the $24 he received. (Enter amounts in whole dollars, not in billions. Round final answers to nearest whole dollar amount.) Required: 1. Assume 6% interest rate compounded semiannually. (Hint Use the FV function in Excel.) 2. Use Excel to determine the balance of the investment as of December 31, 2018, assuming an 8% annual interest rate, compounded semiannually. (Hint: Use the FV function in Excel.) 3. What would be the balances for requirements 1 and 2 if interest is compounded quarterly? 4. Assume that the account consisting of this investment had a balance of $9.5 billion as of December 31, 2018. How much would the total amount be on December 31, 2024, if the annual interest rate is 8%, compounded semiannually? Part(b) In 2000, a star major-league baseball player signed a 10-year, $252 million contract with the Texas Rangers. Assume that equal payments would have been made each year to this individual and that the owner's cost of capital (discount rate) was 12% at the time the contract was signed. What is the present value cost of the contract to the owners as of January 1, 2000, the date the contract was signed, in each of the following independent situations? (Round your answers to the nearest whole dollar amount and not in millions.) Required: 1. The baseball player received the first payment on December 31, 2000. 2. The baseball player received the first payment on January 1, 2000, the date the contract was signed. 3. Assuming the owner is in the 45% income tax bracket, calculate your answer for requirement 1. Complete this question by entering your answers in the tabs below.
1. The future value of the $24 investment at a 6% interest rate compounded semiannually from January 1, 1701, to December 31, 2018, can be calculated using the FV (Future Value) function in Excel.
The result is approximately $9,080,153,591.
1. If the baseball player received the first payment on December 31, 2000, the present value cost of the contract to the owners as of January 1, 2000, can be calculated using the PV (Present Value) function in Excel with a discount rate of 12%. The result would be approximately $150,947,868.
1. By investing the $24 at a 6% interest rate compounded semiannually from January 1, 1701, to December 31, 2018, the amount would grow to over $9 billion. This demonstrates the power of compound interest over a long period.
1. If the first payment is received on December 31, 2000, the present value cost of the contract to the owners as of January 1, 2000, is calculated by discounting the future payments back to their present value at a 12% discount rate. The result.
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A mining company will spend $28 million in order to exploit a low-grade placer deposit of gold ore. They estimate the deposit will produce profits of $6 million per year for six years. They calculate the net present value (NPV) using an estimated cost of capital of 6%. What is the maximum that the cost of capital can deviate from this estimate that still makes the decision to mine worthwhile?
The maximum that the cost of capital can deviate from 6% and still make the decision to mine worthwhile is 2%.
The NPV of a project is calculated as the present value of the project's future cash flows, discounted by the cost of capital.
In this case, the project's future cash flows are the profits of $6 million per year for six years. The cost of capital is the rate of return that the company requires on its investments.
If the cost of capital is 6%, then the NPV of the project is $0. This means that the project just breaks even. If the cost of capital were to increase by 2%, then the NPV would become negative, meaning that the project would no longer be worthwhile.
The reason for this is that the present value of the project's future cash flows would decrease as the cost of capital increases. This is because the discount factor would be larger, which would reduce the present value of the future cash flows.
Therefore, the maximum that the cost of capital can deviate from 6% and still make the decision to mine worthwhile is 2%.
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Engineering economy is the heart of making decisions by engineers. These decisions involve: a. Government viewpoint b. Elements of cash flows of money, time and interest. c. Capital funds. d. Marketing trends
The engineering economy is the heart of making decisions for engineers. These decisions involve Elements of cash flows of money, time, and interest. The correct option is B.
Engineering economy is a field of study that focuses on analyzing and evaluating the financial aspects of engineering projects and making decisions based on economic considerations. It involves assessing the costs, benefits, and risks associated with various alternatives and selecting the most economically viable option.
The decisions made in engineering economy are primarily based on the elements of cash flows, which include the timing and amount of money flows, as well as the impact of interest rates over time. Engineers analyze the costs and revenues associated with a project, considering factors such as initial investments, operating expenses, expected cash inflows, and potential savings or profits.
While engineering decisions may take into account other factors like government regulations, capital funds availability, or marketing trends, these elements are not specific to engineering economy as a core concept. The fundamental principles of engineering economy revolve around assessing the financial implications of engineering projects and evaluating the economic feasibility and profitability of different options based on cash flow analysis and considerations of money, time, and interest.
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Effective Oversight: A Guide for Nonprofit Directors, by Regina Herzlinger (July-August 1994).
Questions:
1. What is the responsibility of a Nonprofit Board?
2. What financial tools are available for Board members to monitor the financial operations of nonprofits effectively?
Discuss one of the 4 questions
1. Are the organization's goals consistent with its financial resources?
2. Is the organization practicing intergenerational equity?
3. Are the sources and uses of funds appropriately matched?
4. Is the organization sustainable?
In the article "Effective Oversight: A Guide for Nonprofit Directors" by Regina Herzlinger, the responsibilities of a nonprofit board and the financial tools available to monitor financial operations are discussed.
The article also highlights four important questions that board members should consider to ensure effective financial management in nonprofits.
1. The responsibility of a Nonprofit Board:
According to the article, the primary responsibility of a nonprofit board is to provide effective oversight of the organization's operations, including its financial management. The board is responsible for ensuring that the organization's resources are used efficiently and effectively to fulfill its mission. This involves setting strategic goals, monitoring financial performance, evaluating risks, and ensuring compliance with legal and regulatory requirements.
2. Financial tools for monitoring nonprofit operations:
To effectively monitor the financial operations of nonprofits, board members have access to several financial tools. These tools help board members evaluate the financial health and performance of the organization. Some of the key financial tools discussed in the article include:
- Financial statements: Board members should review financial statements, such as the balance sheet, income statement, and cash flow statement, to assess the organization's financial position, performance, and cash flow.
- Budgets: Board members should review and approve the organization's annual budget, which serves as a financial roadmap for the organization. Regular monitoring of budget variances helps identify any deviations from the planned financial goals.
- Key financial ratios: Board members can analyze financial ratios, such as liquidity ratios, profitability ratios, and efficiency ratios, to assess the financial stability, operational efficiency, and long-term sustainability of the organization.
- Audits and internal controls: Regular audits conducted by independent auditors help ensure the accuracy and reliability of financial statements. Board members should review audit reports and assess the effectiveness of internal control systems.
One of the four questions highlighted in the article is:
3. Are the sources and uses of funds appropriately matched?
This question addresses the importance of aligning the organization's financial resources with its goals and priorities. Board members need to assess whether the organization's funding sources, such as grants, donations, and revenue streams, are effectively utilized to support the activities and programs that align with the organization's mission. By evaluating the match between sources and uses of funds, board members can ensure financial sustainability and efficient resource allocation.
Overall, the article emphasizes the crucial role of nonprofit boards in overseeing financial operations and highlights the financial tools available to board members to effectively monitor and manage the financial aspects of nonprofit organizations. The four questions mentioned provide a framework for board members to assess the organization's financial health, intergenerational equity, resource allocation, and long-term sustainability.
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Problem 5 (10 Marks) - COST VOLUME ANALYSIS Tamati has been pleased with the success at Fush in recent years, and is thinking about expanding to a 2
nd
location across the city. Fush II will have a slightly different approach, while maintaining the current culture and mission of the organisation. Tamiti is tentatively planning for the following 4 categories of revenue: - Beer and wine. He estimates that 15,000 drinks will be served, with an average selling price of $9.00. Average cost per drink will be $7.00. - Fish Dinners. The average fish dinner will sell for $19.50, with a cost of $15.00 Tamati estimates selling 20,000 meals. - Dessert. The specialty cakes and tarts will sell for $8.00, at a cost of $6.50. Tamati estimates selling 9,500 . - Lunch specials. Opening for lunch, with a special lunch menu will be a new offering at Fush II. Tamati expects to draw a steady group of customer, selling 10,000 lunches in the next year. Lunch prices will average $10.00, with a cost of $8.00. - The new location being consider for Fush II will have expenses of $5,300 per month in rent (including utilities). Tamati estimates monthly labour costs of $7,600. Although labour is often considered a variable cost, the estimate can be considered a fixed cost in this situation due to its predictability. a. What is the breakeven point in dollars? (Marks: 5) b. Would you advise Tamati to go ahead with his plans to open this restaurant? Justify your response. If yes, why? If no, why not, and what would need to change to make this a good idea? Use further analysis to support your recommendations. (Marks: 5)
Tamiti wants to open a second location and has estimated the revenue and cost from the 4 categories of revenue (Beer and wine, Fish Dinners, Dessert and Lunch specials). Tamati estimates expenses for rent and labor for the new location.
The task is to determine the break-even point and whether Tamiti should go ahead with his plans.Explanationa) The breakeven point can be calculated using the following formula:Breakeven Point = Fixed Costs / (Price per Unit – Variable Costs per Unit)To find the breakeven point, we need to calculate the total revenue and total variable cost. The total revenue can be found by adding the revenue from all 4 categories.Total Revenue = (15,000 * $9.00) + (20,000 * $19.50) + (9,500 * $8.00) + (10,000 * $10.00)= $135,750The total variable cost can be found by adding the variable cost from all 4 categories and the variable labor cost.Variable Cost = (15,000 * $7.00) + (20,000 * $15.00) + (9,500 * $6.50) + (10,000 * $8.00) + $7,600= $536,100Breakeven Point = $536,100 / ($135,750 - $536,100)= $536,100 / -$400,350= 1.34Therefore, the breakeven point in dollars is $400,350.b) Based on the break-even point and other financial ratios like Return on Investment (ROI), Net Present Value (NPV), Internal Rate of Return (IRR), and payback period, Tamiti should go ahead with his plans. Tamiti's expected profit is $135,750 - $536,100 = -$400,350, and his expected loss is $400,350. However, there are opportunities for improvement that could make the restaurant successful. One way to increase revenue could be to expand the menu or add more categories of revenue. Another way to increase revenue could be to offer discounts on certain days of the week to attract more customers. Additionally, Tamiti could try to decrease his fixed costs by finding a cheaper location or reducing his labor costs.
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According to Michael Porter, a company with good products that has no clear competitive advantage is said to be ________.
a. perfectly positioned
b. stuck in the middle
c. in the wheelhouse
d. outside of the box
According to Michael Porter, a company with good products that has no clear competitive advantage is said to be "stuck in the middle."
The concept of being "stuck in the middle" refers to a situation where a company fails to achieve a sustainable competitive advantage by either being a low-cost provider or differentiating itself effectively in the market.
This lack of strategic focus can result in a company being unable to compete effectively against rivals and can hinder its long-term success.
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What is the profitability index for the set of cash flows if the relevant discount rate is 10 percent?
Year Cash Flow
0 –$ 17,200
1 9,500
2 8,400
3 4,900
The profitability index for this set of cash flows, with a discount rate of 10 percent, is approximately -0.1195.To calculate the profitability index, we need to find the present value of each cash flow and then divide the sum of the present values by the initial cash outflow. The formula for the profitability index is:
Profitability Index = (Present Value of Cash Flows) / Initial Cash Outflow
Given the cash flows and a discount rate of 10 percent, let's calculate the profitability index.
Year 0:
The initial cash outflow is -$17,200. Since it occurs at the beginning of Year 0, its present value is the same as the initial cash outflow.
Present Value of Year 0 = -$17,200
Year 1:
The cash flow in Year 1 is $9,500. To calculate its present value, we divide the cash flow by (1 + discount rate) raised to the power of the number of periods:
Present Value of Year 1 = $9,500 / (1 + 0.10)^1 = $9,500 / 1.10 = $8,636.36
Year 2:
The cash flow in Year 2 is $8,400. We apply the same calculation as Year 1:
Present Value of Year 2 = $8,400 / (1 + 0.10)^2 = $8,400 / 1.21 = $6,942.15
Year 3:
The cash flow in Year 3 is $4,900. Again, we apply the same calculation:
Present Value of Year 3 = $4,900 / (1 + 0.10)^3 = $4,900 / 1.331 = $3,674.43
Now, we can calculate the sum of the present values:
Sum of Present Values = -$17,200 + $8,636.36 + $6,942.15 + $3,674.43 = $2,052.94
Finally, we calculate the profitability index:
Profitability Index = $2,052.94 / -$17,200 ≈ -0.1195
The profitability index for this set of cash flows, with a discount rate of 10 percent, is approximately -0.1195.
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Priya takes out a loan from the Deep Bay Bank for $30,000 to buy a new Prius. The interest rate changed is j26 =
7.54% p.a. The loan is to be repaid over 4 years with the first payment due in a fortnight’s time. The terms of the
loan are that it is an interest only loan for the first year (first 26 payments), at which time it converts to a fully
amortized P&I loan.
The loan is $30,000 with an interest rate of 7.54% p.a. Repayment is over 4 years, starting with interest-only payments for the first year (26 payments), followed by fully amortized principal and interest payments. The first payment is due in a fortnight.
Priya borrowed $30,000 from Deep Bay Bank to purchase a new Prius. The loan has an interest rate of 7.54% per annum. The repayment period is set at 4 years, and the first payment is due in two weeks. The loan terms specify that for the first year (consisting of 26 payments), Priya only needs to pay the interest amount. After the first year, the loan converts to a fully amortized principal and interest loan, where each payment includes both principal and interest portions.
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Illustrate the application of SSF on hedging by providing an
example of risk
transfer technique and hedging position analysis on any of the
SSF current listed
company.
Single Stock Futures (SSF) can be effectively used as a risk transfer technique for hedging purposes. By entering into SSF contracts, investors can manage and mitigate their exposure to price fluctuations in specific stocks. An example of SSF application for hedging involves analyzing the hedging position on a currently listed SSF company.
To illustrate the application of SSF on hedging, let's consider a hypothetical scenario involving Company XYZ, which is listed on a futures exchange with SSF contracts available for trading. An investor holds a significant number of shares in Company XYZ and wants to hedge against potential price declines in the stock.
The investor can establish a hedging position using SSF contracts by taking a short position in the SSF of Company XYZ. By taking a short position, the investor is essentially agreeing to sell the SSF contracts at a predetermined price in the future. The value of the short SSF position will move inversely to the underlying stock's price, providing a hedge against potential losses in the stock portfolio.
For instance, if the investor holds 1,000 shares of Company XYZ and expects the stock's price to decline, they can enter into a short position in SSF contracts for 1,000 shares. If the stock price indeed drops, the gains from the short SSF position will help offset the losses in the stock portfolio.
By utilizing SSF contracts, investors can effectively transfer the risk of stock price fluctuations to the futures market, thereby protecting their investment against potential losses. However, it's important to note that hedging strategies using SSF contracts come with risks and require careful analysis of the specific market conditions, underlying stock dynamics, and the investor's risk tolerance.
It is crucial to consult with a financial professional or conduct thorough research before implementing any hedging strategy using SSF contracts. The specific analysis and hedging decisions will depend on the investor's objectives, risk profile, and the characteristics of the SSF listed company being considered.
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Insight Company's standard factory overhead rate is $3.73 per direct labor hour (DLH), calculated at 90% capacity = 700 standard DLHs, In December, the company operated at 80% of capacity, or 622 standard DLHs. Budgeted factory overhead at 80% of capacity is $3,060, of which $1,380 is fixed overhead. For December, the actual factory overhead cost was $4,410 for 770 actual DLHs, of which \$1,330 was for fixed factory overhead. Assuming the use of a four-way breakdown (decomposition) of the total overhead variance, what is the variable factory overheod efficiency variance for Insight Company in December? (Round your intermediate calculation to 2 decimal places.)
In December, Insight Company operated at 80% capacity with 622 standard DLHs.
The actual factory overhead cost was $4,410 for 770 actual DLHs, including $1,330 fixed factory overhead. To calculate the variable factory overhead efficiency variance, we need to determine the difference between the actual hours worked and the standard hours allowed, multiplied by the standard rate. First, we calculate the standard hours allowed: 80% of 700 standard DLHs = 560 DLHs. Next, we find the difference between the actual hours worked and the standard hours allowed: 770 actual DLHs - 560 DLHs = 210 DLHs. To find the variable factory overhead efficiency variance, we multiply the difference by the standard rate: 210 DLHs * $3.73 per DLH = $782.70. Therefore, the variable factory overhead efficiency variance for Insight Company in December is $782.70.
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Define the business customs and practice that are use in Australia and describe and discuss the business customs and practices that exist in Australia The following questions are typically important in such a discussion - What role do ethics, corruption, and respect of law play in Australia? How are environmental concerns and human rights issues addressed?
1. Business customs and practices in Australia involve a strong emphasis on ethics, adherence to the law, and respect for regulations and standards.
2. Ethics, corruption, and respect for the law play a vital role in Australia's business environment, with a robust legal framework in place to prevent corruption and promote fair business practices.
3. Australia places significant importance on environmental concerns and human rights issues, and businesses are expected to operate in a manner that minimizes environmental impact and upholds human rights standards.
In Australia, ethical conduct and compliance with the law are integral to the business culture. The country has stringent laws and regulations to combat corruption and promote fair competition. The Australian Securities and Investments Commission (ASIC) and the Australian Competition and Consumer Commission (ACCC) oversee business practices, ensuring compliance and ethical behavior.
Regarding environmental concerns, Australia has a strong focus on sustainability. Businesses are encouraged to adopt eco-friendly practices and comply with environmental regulations. The government has implemented various initiatives to promote renewable energy, reduce carbon emissions, and protect natural resources.
Human rights issues are also addressed through legislation and public awareness. Australia is committed to upholding human rights and has established laws against discrimination and exploitation. Businesses are expected to respect human rights in their operations, including fair treatment of employees and avoidance of unethical labor practices.
In summary, Australia's business customs and practices emphasize ethics, respect for the law, environmental sustainability, and the protection of human rights. The country has a robust legal framework and regulatory bodies to ensure compliance and promote responsible business conduct.
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Let the continuously compounded rate r be 5.00%, the effective annual return (EAR) is
(a) 5.12%
(b) 5.00%
(c) 4.88%
(d) None of the above.
Which statement is most accurate for price-weighted equity indexes?
(a) Can be composed by holding the number of shares outstanding for each security in the market.
(b) No need to rebalance often.
(c) Stock splits result in arbitrary changes.
(d) The construction is data intensive.
The most accurate statement for price-weighted equity indexes is (a) Can be composed by holding the number of shares outstanding for each security in the market.
Price-weighted equity indexes are constructed by calculating the average price of the constituent securities and weighting them based on their prices rather than market capitalization. Among the given options, statement (a) is the most accurate description of price-weighted equity indexes.
Statement (a) states that price-weighted equity indexes can be composed by holding the number of shares outstanding for each security in the market. This means that the index is constructed by taking into account the number of shares outstanding for each security, without considering their market values. In a price-weighted index, securities with higher prices will have a larger impact on the index value.
Option (b) states that there is no need to rebalance often, which is not necessarily true for price-weighted indexes. Since the index is based on the prices of individual securities, any significant changes in the prices can result in the need for rebalancing to maintain the index's desired composition.
Option (c) states that stock splits result in arbitrary changes. This statement is not accurate for price-weighted indexes. In a price-weighted index, stock splits do not result in arbitrary changes as the number of shares outstanding for each security remains the same.
Option (d) states that the construction of price-weighted indexes is data intensive. This statement is not accurate since price-weighted indexes primarily rely on the prices of securities and the number of shares outstanding, which are typically readily available data.
Therefore, the most accurate statement for price-weighted equity indexes is (a) Can be composed by holding the number of shares outstanding for each security in the market.
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Hans Bozzell is a vice-president of the Western Bank in Markham, Ontario. Active in community affairs, Bozzell serves on the board of directors of Orson Tool & Dye. Orson is expanding rapidly and is considering relacating its factory. At a recent meeting, board members decided to try to buy 20 hectares of land or the edge of town. The owner of the property is Sheri Fallon, a customer of Western Bank. Fallon is a recent
widow. Bozzell knows that Fallon is eager to sell her local property. In view of Fallon's anguished condition, Bozzell believes she would accept almost any offer for the land. Realtors have appraised the property at
$4 million.
Required
Apply the ethical judgment framework to help Bozzell decide what his role should be in Orson's attempt to buy the land from Fallon.
Bozzell should act ethically by prioritizing the best interests of both parties involved and avoiding any conflict of interest.
As a vice president of Western Bank, Bozzell has a fiduciary duty to act in the best interests of the bank and its customers. In this situation, Bozzell should ensure that any negotiations or transactions regarding Fallon's property are conducted fairly and transparently.
He should disclose his position on the board of Orson Tool & Dye and avoid using his influence to exploit Fallon's vulnerable state. Bozzell should also consider obtaining independent appraisals and facilitating a fair market value transaction for the property. Acting ethically will maintain trust, protect all parties' interests, and uphold the integrity of his position.
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Discuss the costs and consequences of corruption to the economic
growth. Recommend what need to be undertaken by the government to
reduce cases of corruption.
Corruption has significant costs and consequences for economic growth. It hampers investment, reduces government revenue, distorts market competition, and undermines public trust in institutions. The World Bank estimates that corruption can increase the cost of doing business by up to 10% globally.
In developing countries, it is estimated that corruption adds an extra 10% to the cost of infrastructure projects. Moreover, corruption leads to misallocation of resources, reduced public services, and discourages foreign direct investment.
Corruption imposes direct costs on the economy. For example, if a corrupt official demands a bribe to approve a business permit, it increases the cost of doing business for that company. This extra cost can reduce investment and deter new entrants, hindering economic growth. Additionally, corrupt practices often divert public funds intended for development projects into the pockets of individuals, reducing the resources available for public goods and services.
Calculating the exact economic cost of corruption is challenging due to its covert nature. However, several studies have estimated its impact. For instance, a study by Transparency International estimated that corruption costs the global economy more than $1 trillion per year.
To reduce cases of corruption, governments need to undertake comprehensive measures. Firstly, promoting transparency and accountability through the implementation of robust anti-corruption policies is crucial. This includes strengthening legal frameworks, improving law enforcement, and establishing independent anti-corruption bodies. Secondly, fostering a culture of integrity and ethics within society by promoting awareness, education, and ethical leadership is essential. Whistleblower protection mechanisms can encourage individuals to report corruption without fear of retaliation. Finally, promoting a free and independent media is vital for exposing and raising awareness about corrupt practices.
By tackling corruption, governments can create a conducive environment for economic growth, attract investment, and foster public trust. Combating corruption requires a multi-faceted approach involving strong political will, institutional reforms, and active citizen participation.
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"1. What is the difference between a contribution format income
statement and a traditional format income statement?
2. Distinguish between discretionary fixed costs and committed
fixed costs.
1. Contribution format income statements focus on variable and fixed costs, aiding in break-even analysis. Traditional format income statements include the cost of goods sold and operating expenses, providing a comprehensive expense overview. 2. Discretionary fixed costs are management-controlled expenses, while committed fixed costs are necessary expenses due to long-term agreements.
1. A contribution format income statement focuses on separating costs into fixed and variable categories. It emphasizes the behavior of costs and their impact on contribution margin, which is the difference between sales revenue and variable costs. By isolating variable costs, such as direct materials and direct labor, it enables analysis of cost-volume-profit relationships and helps determine the break-even point.
On the other hand, a traditional format income statement includes cost of goods sold (COGS) and operating expenses. COGS includes direct materials, direct labor, and manufacturing overhead while operating expenses encompass selling, general, and administrative expenses. This format provides a more comprehensive view of the organization's expenses but does not directly highlight the contribution margin.
2. Discretionary fixed costs are those that can be adjusted or eliminated based on management's judgment or the organization's needs. They are typically associated with activities that are not essential for day-to-day operations. For example, spending on advertising campaigns or research and development projects can be reduced or eliminated if necessary.
Committed fixed costs, on the other hand, are expenses that an organization must incur due to long-term commitments or contractual obligations. They are typically difficult to modify in the short term. Examples include lease payments for office space or machinery, salaries of permanent employees, or loan repayments.
Understanding the distinction between discretionary and committed fixed costs helps organizations make informed decisions about cost control, budgeting, and resource allocation. It allows them to identify areas where costs can be adjusted more easily versus those that require long-term planning and strategic considerations.
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Suppose that ₹ 30000 crore in new reserves is deposited in the Indian banking system as a result of Reserve Bank relaxing reserve requirements. If the current reserve requirement (CRR+SLR) is 23 percent and public place another 7 percent of incoming funds into their wallets, what is the size of the banking system deposit multiplier? How much in new money creation by the system will occur as result of the injection of ₹ 30000 crore in new reserves
The size of the banking system deposit multiplier can be calculated by dividing the total deposit created by the initial injection of reserves. In this case, the total deposit created would be the sum of the initial reserves and the amount placed into wallets by the public.
Given that the initial injection of reserves is ₹30,000 crore and the public places 7% of the funds into their wallets, the total deposit created would be ₹30,000 crore divided by (1 - 0.07), which equals ₹32,258.06 crore. Therefore, the size of the banking system deposit multiplier is approximately 1.075.
The injection of ₹30,000 crore in new reserves into the Indian banking system, considering the reserve requirement of 23%, would lead to a potential money creation of ₹32,258.06 crore. This is because the banking system deposit multiplier measures the amount of new money that can be created through the fractional reserve banking system.
The reserve requirement dictates the portion of deposits that banks must hold as reserves, while the remaining portion can be used to create loans and expand the money supply. In this scenario, the initial injection of reserves, combined with the amount held by the public in wallets, allows for the creation of additional deposits, resulting in an increase in the money supply by ₹32,258.06 crore.
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Which of the following is true of supplies?
Question 2 options:
a) Only one supplier is generally available.
b) Branding is not important for maintenance and small operating supplies.
c) None of these answers is correct.
d) New-task buying is typical with most purchases.
e) Breadth of assortment is important, but dependability is not.
None of the options provided is true of supplies. The option c is correct answer.
None of the options provided accurately describes the characteristics of supplies. Let's analyze each option:
a) Only one supplier is generally available: This statement is not true because supplies can be sourced from multiple suppliers. In many cases, businesses prefer to have multiple suppliers to ensure a consistent and reliable supply chain.
b) Branding is not important for maintenance and small operating supplies: This statement is also incorrect. Branding can play a significant role in the selection of maintenance and small operating supplies. Brands often represent quality, reliability, and compatibility with existing equipment or systems, making branding an important consideration.
d) New-task buying is typical with most purchases: This statement is not true for supplies. New-task buying refers to the purchase of unfamiliar or complex products or services, which is not typically the case with routine supplies. Most supply purchases are classified as straight rebuys or modified rebuys, where the buyer is familiar with the product and supplier.
e) Breadth of assortment is important, but dependability is not: This statement is also incorrect. Dependability is a crucial factor when selecting supplies. Businesses rely on a dependable supply of materials, equipment, and services to ensure smooth operations and meet customer demands. While breadth of assortment may be important for some industries or specific purchasing situations, dependability is universally valued.
In conclusion, none of the options provided accurately describes the characteristics of supplies. Factors such as multiple suppliers, branding, dependability, and familiarity with the product and supplier play essential roles in the supply procurement process. Therefore , the option c is correct.
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Defendant, Alexander Grant, Co., contracted to perform accounting services for the GHP Corporation, for the purposes of preparing an audit for the 12-month period ending June 1, 2020. GHP provided Alexander with the financial information. Alexander completed the audit and delivered same to GHP. Subsequently, GHP submitted copies of this audit to Spherex Co., a manufacturer of spoked wheels for baby carriages, for the purposes of obtaining credit. Spherex, upon reliance of Alexander's audit, provided credit to GHP. Subsequently, GHP went bankrupt and Spherex suffered a loss in that its loan could not be repaid by GHP. Spherex instituted a lawsuit against Alexander claiming violations of state law. Discuss the liability of Alexander: a. Assuming Alexander acted fraudulently. b. Assuming Alexander acted negligently applying the foreseeable plaintiff theory. c. Assuming Alexander acted negligently applying the primary benefit theory. Assume that Alexander's audit was prepared for the SEC in connection with a public offering. Discuss its liability if a person bought stock in this IPO and suffered a loss.
The liability of Alexander Grant, Co. in the given scenario depends on the actions taken by Alexander and the legal theories applied. If Alexander acted fraudulently, they could be held liable for the losses suffered by Spherex.
In the case of negligence, two theories can be applied: the foreseeable plaintiff theory and the primary benefit theory. If Alexander's negligence was foreseeable and directly caused the loss to Spherex, they could be held liable.
However, if the primary benefit of the audit was intended for the SEC and not for Spherex, Alexander's liability may be limited. In the case of a person buying stock in the IPO, if they suffered a loss due to false or misleading information in the audit, Alexander could be held liable.
a. If Alexander acted fraudulently, intentionally providing false information in the audit, they could be held liable for Spherex's losses. Fraud involves deliberate misrepresentation or concealment of material facts with the intent to deceive.
b. Assuming Alexander acted negligently under the foreseeable plaintiff theory, they may be held liable if Spherex can demonstrate that the harm caused by their negligence was reasonably foreseeable. Negligence requires a breach of duty of care, causing foreseeable harm to another party.
c. Assuming Alexander acted negligently under the primary benefit theory, their liability may be limited if the audit's primary purpose was to benefit the SEC and not Spherex. This theory limits liability to parties intended to benefit from the audit, and Spherex may not fall within that scope.
If a person bought stock in the IPO and suffered a loss due to false or misleading information in the audit, Alexander could be held liable for securities fraud.
Investors rely on accurate and reliable financial information when making investment decisions, and if they suffer losses due to fraudulent or negligent misrepresentations, they may have a valid claim against Alexander.
The specific legal implications and potential liability would depend on the facts and circumstances of the case, as well as applicable securities laws and regulations.
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Which of the following is an example of a variable cost for a manufacturing firm?
Multiple Choice
a The cost of rent on the factory.
b The cost of factory supervision.
c The cost of raw materials.
d The cost of depreciation on equipment.
The cost of raw materials is an example of a variable cost for a manufacturing firm. The answer to the following question is "c) The cost of raw materials."
Which of the following is an example of a variable cost for a manufacturing firm?A variable cost is a cost that changes in proportion to the production volume. Variable costs differ from fixed costs, which remain the same regardless of the level of production.
A company's variable costs will increase as it increases production, and they will decrease as it decreases production.
In addition to raw materials, other examples of variable costs for a manufacturing company may include labor costs, packaging costs, and the cost of electricity required to operate machinery.
Hence, option c. is correct.
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QUESTION 4 [20 MARKS]
4.1 There is a relationship between risk and return. Discuss this
statement by referring to
the four main asset classes. (8)
4.2 Critically discuss whether you consider property or equities to be a better investment
choice of the two options. Be sure to refer to the advantages and disadvantages of
both options. (12)
The relationship between risk and return is evident in the four main asset classes. Equities offer higher potential returns but come with higher risks. Bonds provide stability with lower returns, while cash is the safest but offer minimal returns. Real estate offers a balance between risk and return.
The relationship between risk and return is a fundamental concept in finance that applies to the four main asset classes: equities, bonds, cash, and real estate.
Equities, or stocks, have the potential for high returns but come with higher risks. Stock prices can be volatile and influenced by various factors, such as market conditions, economic trends, and company performance. Investors in equities must be prepared for fluctuations in value and the potential for losses.
Bonds, on the other hand, are considered relatively less risky. They represent debt obligations and provide fixed interest payments over a specified period. Bonds offer more stable returns compared to equities, making them attractive to risk-averse investors. However, their returns are typically lower than equities.
Cash and cash equivalents, such as savings accounts and money market funds, have the lowest risk but offer minimal returns. They provide high liquidity and stability, making them suitable for short-term needs and as a safe haven during market uncertainties. However, cash investments generally do not generate significant long-term returns.
Real estate investments offer a balance between risk and return. While real estate can provide potential capital appreciation and rental income, it also carries risks such as market fluctuations, property management challenges, and limited liquidity. Real estate can serve as a diversification tool in an investment portfolio and offer potential tax advantages.
When considering the choice between property and equities, investors should assess their financial goals, risk tolerance, and market conditions. The property offers the advantage of potential appreciation, rental income, and diversification benefits, but it also requires significant upfront capital, and property management responsibilities, and may lack liquidity. Equities offer the potential for higher returns, liquidity, and diversification through investing in various companies, but they come with market volatility and the risk of losses.
Ultimately, the optimal investment choice depends on individual preferences, risk appetite, and the desired balance between risk and return. Diversification across different asset classes may be a prudent strategy to manage risk and seek returns based on individual circumstances.
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