Write a report when you describe your own skills that you have
learned about doing surveys, collecting data doing outline
research, and creating a questionnaire.
at least 1500 words

(a) The company's return on assets ratio for 2015 is 13.7% and for 2016 is 9.0%. (b) The company's asset turnover ratio for 2015 is 0.67 and for 2016 is 0.53.

a. The return on assets ratio for 2015 and 2016 is 13.7% and 9.0%, respectively.

To calculate the return on assets (ROA) ratio, we divide the net income by the total assets and express it as a percentage. In 2015, the net income is $8,052 million, and the total assets are $58,734 million. Therefore, the ROA for 2015 is calculated as follows:

ROA 2015 = (Net Income 2015 / Total Assets 2015) * 100

      = ($8,052 million / $58,734 million) * 100

      ≈ 13.7%

Similarly, for 2016, the net income is $6,134 million, and the total assets are $68,128 million. Thus, the ROA for 2016 is:

ROA 2016 = (Net Income 2016 / Total Assets 2016) * 100

      = ($6,134 million / $68,128 million) * 100

      ≈ 9.0%

b. The asset turnover ratio for 2015 and 2016 is 0.67 and 0.53, respectively.

The asset turnover ratio measures how efficiently a company utilizes its assets to generate sales. It is calculated by dividing net sales by average total assets. To calculate the asset turnover ratio, we need the net sales data. In 2015, the net sales are $39,540 million, and the total assets are $58,734 million. Therefore, the asset turnover ratio for 2015 is:

Asset Turnover 2015 = Net Sales 2015 / Total Assets 2015

                         = $39,540 million / $58,734 million

                         ≈ 0.67

For 2016, the net sales are $36,117 million, and the total assets are $68,128 million. Thus, the asset turnover ratio for 2016 is:

Asset Turnover 2016 = Net Sales 2016 / Total Assets 2016

                         = $36,117 million / $68,128 million

                         ≈ 0.53

Note: Average total assets are not provided in the given data, so we have used the total assets for each respective year.

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Distribution is the value chain element associated with the costs of shipping inventory to the customer in a merchandising company. Therefore, option (C) is correct.

Distribution involves activities such as order processing, warehousing, transportation, and logistics, all of which are necessary for delivering the products to the customers efficiently and effectively.

It encompasses the processes and expenses related to storing, packaging, and delivering the inventory from the company's location to the end customer.

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Convexity is the difference between the actual price change of a bond and the price change predicted by duration alone, making option "a) actual price change and duration-predicted price change" the correct choice. The correct option is a.

Convexity refers to the difference between the actual price change of a financial instrument and the predicted price change based on its duration. It is not related to market average price change, government bond price change, or yield to maturity change.

Duration measures the sensitivity of a bond's price to changes in interest rates. It provides an estimate of the percentage change in the bond's price for a given change in interest rates. However, duration is a linear approximation and assumes that the relationship between price and yield is linear.

Convexity, on the other hand, accounts for the non-linear relationship between price and yield. It captures the curvature of the price-yield relationship, especially for bonds with embedded options or non-linear cash flows. Convexity provides a more accurate estimate of the bond's price change when there are significant interest rate fluctuations.

Therefore, convexity is the difference between the actual price change of a bond and the price change predicted by duration alone, making option "a) actual price change and duration-predicted price change" the correct choice. Hence, the correct option is a.

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To calculate the price of the stock today, we can use the dividend discount model (DDM). The DDM values a stock by discounting its future dividends back to the present. In this case, the dividends are expected to grow at 28% for the first eight years and then stabilize at a 6% growth rate indefinitely. With a required return of 13%, the calculated price of the stock today is $5.68.

The DDM formula for the price of a stock is P = D₁ / (r - g),

where

Given that the dividend in the first year is $1.25, the required return is 13%, and the dividend is expected to grow at 28% for the first eight years and 6% thereafter, we can calculate the price of the stock:

P = $1.25 / (0.13 - 0.28) * (1 - (1 + 0.06)⁸) / (0.13 - 0.06) = $5.68.

Therefore, the price of the stock today, according to the dividend discount model, is $5.68. This price reflects the expected future dividends and the required return, taking into account the growth rate of the dividends.

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Morris Corporation's average sales per day is approximately $578,125. The correct answer is option d.

To calculate Morris Corporation's average sales per day, we need to divide its accounts receivable by the average collection period.

Average Sales per Day = Accounts Receivable / Average Collection Period

Accounts Receivable = $37 million

Average Collection Period = 64 days

Average Sales per Day = $37,000,000 / 64 ≈ $578,125

The correct answer is option d.

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Complete question

12. Morris Corporation has accounts receivable of $37 million.

Its average collection period is

64 days. What is morris's average sales per day?

A. $2.368 billion

B. $578,000

C. $236,800

D. $578, 125 million

Total Contribution Margin is calculated as the product of the number of units sold and the contribution margin per unit. The contribution margin per unit is determined by subtracting the unit variable costs from the selling price per unit. Here is the calculation:

Given data:Number of units of LifeSaver II sold in 2013 = 375,000Selling price per unit of LifeSaver II = $40

Unit variable costs of LifeSaver II = $24Total contribution margin per unit of LifeSaver II = ($40 - $24) = $16

Number of LifeSaver I units cannibalized by LifeSaver II = 200,000Number of LifeSaver I units sold in 2013 without LifeSaver II = 450,000 - 200,000 = 250,000

Selling price per unit of LifeSaver I = $48Unit variable costs of LifeSaver I = $25

Total contribution margin per unit of LifeSaver I = ($48 - $25) = $23

Therefore, the total contribution margin for LifeSaver II in 2013 is calculated as:

Total contribution margin = Total contribution margin per unit * Number of units sold= $16 * 375,000= $6,000,000

Therefore, the projected 2013 total contribution margin for LifeSaver II is $6,000,000.

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Price bundling refers to the process where businesses or sellers group several products or services and sell them as a single combined package.

The rationale behind this approach is that customers are more likely to purchase the bundle as a whole as opposed to individual items sold separately.

Therefore, the business can increase sales and revenue by using price bundling.Pricing strategy refers to a set of actions or plans that a business develops to price its products or services effectively. Different pricing strategies, such as penetration pricing and premium pricing, can help a business achieve different goals, such as attracting new customers or improving profitability.Companies initiate the price bundling strategy for several reasons, including the following:Reducing costs:

By bundling products together, companies can reduce the overall cost of the package. For example, packaging and shipping multiple items together can be more cost-effective than shipping each item separately.Increasing sales: Price bundling encourages customers to purchase more products than they would if the items were sold separately. This, in turn, can lead to increased sales and revenue.Offering value: Price bundling allows companies to offer customers a better value for their money. When customers perceive that they are getting a good deal, they are more likely to make a purchase and remain loyal to the brand.Example of a company that implements price bundling and how the combined pricing strategy affects customer behavior:

An example of a company that implements price bundling is McDonald’s. McDonald’s, the fast-food giant, offers value meals that consist of a burger, fries, and a drink. By selling these items together as a package, McDonald’s encourages customers to purchase a full meal instead of just a burger. This results in higher sales and profits for the company.

As for how the combined pricing strategy affects customer behavior, McDonald’s value meal bundle is a perfect example of how price bundling affects consumer behavior. Customers are more likely to purchase a value meal bundle as it offers more value for their money.

Furthermore, customers are encouraged to purchase the bundle because they perceive that they are getting a good deal. The value meal bundle offers more products than customers would receive if they bought items separately, resulting in higher sales for McDonald’s.

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I have experienced poor product or service quality in the following three recent situations: (1) receiving a defective electronic device, (2) encountering slow and unresponsive customer support, and (3) receiving subpar food quality at a restaurant.

In the first situation, I purchased a new smartphone that malfunctioned shortly after I started using it. The device had several hardware issues, affecting its performance and usability. This directly impacted my satisfaction as a customer and required me to seek a replacement or repair.

In the second situation, I faced a prolonged and frustrating experience with a customer support team. They were unresponsive to my inquiries and failed to address my concerns promptly. This lack of quality service not only caused inconvenience but also reflected poorly on the company's commitment to customer satisfaction.

Lastly, I encountered poor food quality at a restaurant where the dishes I ordered did not meet the expected standards in terms of taste, presentation, and freshness. This directly affected my dining experience and left me dissatisfied with the overall quality of the establishment.

These situations highlight the importance of product and service quality in customer satisfaction and the negative impact that poor quality can have on the overall customer experience. It emphasizes the need for businesses to prioritize quality control and customer-centric approaches to ensure customer loyalty and positive brand perception.

References:

- Parasuraman, A., Zeithaml, V. A., & Berry, L. L. (1985). A conceptual model of service quality and its implications for future research. Journal of Marketing, 49(4), 41-50.

- Grönroos, C. (1984). A service quality model and its marketing implications. European Journal of Marketing, 18(4), 36-44.

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1. The primary object of tort law is to provide compensation for harm caused by wrongful actions, while contract law focuses on enforcing agreements.

2. Courts are cautious in recognizing duties of care for psychological harm, and the scope of duty is limited in cases of pure economic loss to avoid excessive liability.

1. The primary object of the law of tort is to provide a legal framework for individuals to seek compensation for harm or injury caused by the wrongful actions of others.

2. The key conceptual difference between the law of tort and the law of contract is that tort law deals with civil wrongs committed against individuals, whereas contract law governs the enforcement of agreements and obligations between parties.

3. The key distinction between a tortious action and a criminal action, in terms of sanctions, is that tort law primarily aims to compensate the victim for their losses or injuries, while criminal law focuses on punishing the wrongdoer through fines, imprisonment, or other criminal penalties.

4. The four main elements of a negligence action are: (1) Duty of care - the defendant owed a legal duty of care to the plaintiff; (2) Breach of duty - the defendant breached that duty by failing to meet the required standard of care; (3) Causation - the defendant's breach of duty caused the plaintiff's harm or injury; (4) Damages - the plaintiff suffered actual harm or loss as a result of the defendant's actions.

5. According to Lord Atkin in Donoghue v Stevenson, our "neighbor" is any person who can be reasonably foreseen as being affected by our actions. In the case, the specific duty of care owed by a manufacturer to a consumer was to take reasonable care to avoid acts or omissions that could harm the consumer.

6. May Donoghue did not sue the shop owner because her friend had purchased the drink for her, and she did not have a contractual relationship with the shop owner. Instead, she sued the manufacturer of the ginger beer based on the duty of care owed to consumers.

7. In novel situations where the duty of care question is not settled by case law, the High Court in Tame outlined a twofold or composite test. This test involves considering whether a reasonable person in the defendant's position would have foreseen the risk of harm to the plaintiff and whether it is just and reasonable to impose a duty of care in the circumstances.

8. Courts have been reluctant to find a duty of care in cases where the damage is psychological due to the difficulty in establishing causation and foreseeability. Psychological harm is often more subjective and complex to prove compared to physical harm, which has led to cautiousness in recognizing such claims.

9. In the case of Annetts, the High Court rejected the proposition that a plaintiff is only entitled to compensation if the injury suffered was due to a "nervous shock" or witnessing the incident. Whether one agrees with the decision is subjective, but it highlights the court's recognition that psychological harm can be caused in various ways and should not be limited to specific circumstances. Mrs. Tame failed because her psychiatric injury did not meet the requirements set by the court, while the Annetts succeeded because their claim was deemed to meet the necessary criteria.

10. "Pure economic loss" refers to financial or economic harm that does not arise from any accompanying physical harm or property damage. Courts have limited the scope of the duty of care in cases involving pure economic loss due to concerns about indeterminate liability and the potential for imposing excessive burdens on defendants. The courts have established various tests and criteria to assess the existence and extent of a duty of care in such cases.

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Fixed assets to long-term liabilities ratio: Fixed assets / Long-term liabilities. Liabilities to stockholders' equity ratio: Total liabilities / Total stockholders' equity. Asset turnover: Sales / Total assets. Return on total assets: (Net income / Total assets) * 100. Return on stockholders' equity: (Net income / Total stockholders' equity) * 100. Return on common stockholders' equity: (Net income / Common stockholders' equity) * 100.

a. Ratio of fixed assets to long-term liabilities:

Fixed assets = Property, plant, and equipment (net) = $1,502,900

Long-term liabilities = Note payable = $791,000

Ratio of fixed assets to long-term liabilities = Fixed assets / Long-term liabilities = $1,502,900 / $791,000

b. Ratio of liabilities to stockholders' equity:

Liabilities = Total liabilities = $948,000

Stockholders' equity = Total stockholders' equity = $1,896,000

Ratio of liabilities to stockholders' equity = Liabilities / Stockholders' equity = $948,000 / $1,896,000

c. Asset turnover:

Sales = $14,142,300

Total assets at the beginning of the year = $2,702,000

Asset turnover = Sales / Total assets at the beginning of the year = $14,142,300 / $2,702,000

d. Return on total assets:

Net income = $222,000

Total assets at the beginning of the year = $2,702,000

Return on total assets = (Net income / Total assets at the beginning of the year) * 100

e. Return on stockholders' equity:

Net income = $222,000

Total stockholders' equity = $1,896,000

Return on stockholders' equity = (Net income / Total stockholders' equity) * 100

f. Return on common stockholders' equity:

Net income = $222,000

Common stockholders' equity = Total stockholders' equity - Preferred stock = $1,896,000 - $568,800

Return on common stockholders' equity = (Net income / Common stockholders' equity) * 100

Perform the calculations using the given values to determine the results for each measure.

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Aminah can take legal action against the Fast Forward Bank (FFB) as they did not act according to the relevant statutory provisions of the Hire-Purchase Act 1967.

The bank acted unlawfully according to section 27 (2) of the Hire-Purchase Act, which states that if a debtor dies, the creditor may enforce his rights subject to obtaining the necessary documents from the debtor’s legal representative.In this case, Aminah informed FFB that Amin had died and she was appointed the administrator of his estate. She requested that she wants to continue paying for the instalments, as there were only 5 months' instalments left under the agreement. However, the FFB sent a 4th schedule notice and then repossessed the car without following the proper procedure.

According to Section 34 (1) of the Hire-Purchase Act, the FFB must issue a notice to Aminah before repossessing the car. However, in this case, FFB sent a 4th schedule notice, which is not in line with the statutory provisions of the Hire-Purchase Act.Furthermore, FFB must comply with the Hire-Purchase Act when repossessing the car. They are not allowed to use violence or threaten Aminah. The FFB should give her reasonable notice of the repossession, as required by Section 35 of the Act. Thus, the bank has acted unlawfully and Aminah can take legal action against them.

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1: The role of demand forecasting is to estimate future customer demand for a product or service. It helps businesses make informed decisions about production, inventory management, and resource allocation to meet customer needs efficiently.

2: Warehouse Management Systems (WMS) offer several benefits, including improved inventory accuracy, increased operational efficiency, optimized storage space utilization, streamlined order fulfillment processes, and enhanced visibility and control over warehouse operations.

3: Electronic Data Interchange (EDI) and Value-Added Networks (VAN) are both used for electronic data exchange between trading partners. EDI is a standardized format for transmitting business documents, while VAN is a network infrastructure that facilitates secure data transmission and provides additional services like data translation and routing.

4: The SCOR (Supply Chain Operations Reference) model's five performance attributes (reliability, responsiveness, flexibility, cost, and asset efficiency) provide a framework to measure and improve supply chain performance. Benefits include enhanced customer satisfaction, reduced costs, increased agility, improved collaboration, and optimized resource utilization.

5: A company can determine if it is using the right metrics by aligning them with its strategic goals and objectives, regularly monitoring and evaluating the metrics' performance, seeking feedback from stakeholders, comparing against industry benchmarks, and making adjustments when necessary to ensure the metrics effectively measure progress and drive desired outcomes.

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The company can spend $21,500 in each of the next 4 years to deplete the entire budget.

The company has $130,000 available to pay for plastic components over a 5-year period.

In the first year, they spend $44,000. The goal is to determine the uniform annual amount the company can spend in each of the next 4 years to deplete the entire budget.

To find the uniform annual amount, we can divide the remaining budget by the number of years left.
Remaining budget after year 1 = $130,000 - $44,000

= $86,000
Number of years left = 4
Uniform annual amount = Remaining budget / Number of years left
Uniform annual amount = $86,000 / 4
Uniform annual amount = $21,500
Therefore, the company can spend $21,500 in each of the next 4 years to deplete the entire budget.

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The uniform annual amount the company can spend in each of the next 4 years to deplete the entire budget is approximately $26,225.93.

To determine the uniform annual amount the company can spend in each of the next 4 years to deplete the entire budget, we can use the concept of uniform annual cash flow.

The company has $130,000 available over a 5-year period, and it spent $44,000 in year 1. This means that the remaining budget for the next 4 years is $130,000 - $44,000 = $86,000.

To find the uniform annual amount, we can divide the remaining budget by the present value interest factor of an annuity (PVIFA) for 4 years at 9% per year.

[tex]\[PVIFA = \frac{{1 - (1 + r)^{-n}}}{{r}}\][/tex]

Where r is the interest rate per period and n is the number of periods.

In this case, r = 9% = 0.09 and n = 4.

[tex]\[PVIFA = \frac{{1 - (1 + 0.09)^{-4}}}{{0.09}}\][/tex]
[tex]\[PVIFA = \frac{{1 - 0.705036}}{{0.09}}\][/tex]
[tex]\[PVIFA = \frac{0.294964}{0.09}\][/tex]
PVIFA ≈ 3.27738

Now, we can calculate the uniform annual amount:
Uniform annual amount = Remaining budget / PVIFA
Uniform annual amount = $86,000 / 3.27738
Uniform annual amount ≈ $26,225.93

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This technology is being used by the industry to reduce costs, increase efficiency, and create a more customer-centric approach. Fintech solutions like digital wallets, robo-advisors, and peer-to-peer (P2P) lending platforms have already taken the world by storm, and this is just the beginning.

1. Future of Financial ServicesBlockchain technology is one of the most significant developments in the history of financial services. The financial system's foundations have been changed by this disruptive technology, offering faster and more secure payments, particularly in the area of international transactions, as evidenced by Santander One Pay FX. The future of the financial services industry appears to be moving toward more efficient, effective, and secure processes thanks to blockchain's innovation.The most significant advantage of blockchain technology is that it is decentralized, and transactions are transparent and irreversible. This technology makes it possible to reduce the number of intermediaries and middlemen involved in financial transactions.2. Other Financial Technology SolutionsFintech (Financial Technology) is a rapidly expanding industry that combines finance and technology. Blockchain technology has already been employed by some fintech firms, but they have a lot more to offer. The future of fintech is likely to be characterized by the emergence of new technologies that will continue to simplify and streamline financial transactions.Fintech companies are creating innovative solutions to traditional banking issues, including reducing payment processing times and providing more efficient and accurate analytics. This technology is being used by the industry to reduce costs, increase efficiency, and create a more customer-centric approach. Fintech solutions like digital wallets, robo-advisors, and peer-to-peer (P2P) lending platforms have already taken the world by storm, and this is just the beginning.

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We need to compare the standard deviations calculated in part b to determine which investment is more risky. a. On the basis of a review of the return data, which investment appears to be more risky why?

To determine which investment appears to be more risky based on the return data, we need to analyze the variability of the returns. One commonly used measure of variability is the standard deviation. The higher the standard deviation, the more risky the investment is considered to be. b. Calculate the standard deviation for each investment's returns  To calculate the standard deviation, we need to follow these steps:

1. Calculate the average return for each investment by summing up all the returns and dividing by the total number of years.
2. For each year, subtract the average return from the actual return and square the result.
3. Calculate the average of the squared differences obtained in step 2.
4. Take the square root of the average calculated in step 3.
Let's calculate the standard deviation for each investment's returns:
For Investment A:

1. Average return = (Return 2016 + Return 2017 + Return 2018 + Return 2019 + Return 2020) / 5
2. Calculate the squared differences: (Return 2016 - Average return)^2, (Return 2017 - Average return)^2, (Return 2018 - Average return)^2, (Return 2019 - Average return)^2, (Return 2020 - Average return)^2
3. Calculate the average of the squared differences obtained in step 2.
4. Take the square root of the average calculated in step 3.

For Investment B:
Repeat steps 1-4 using the returns for Investment B.
c. On the basis of your calculations in part b, which investment is more risky?  Compare this conclusion to your observation in part a.
To determine which investment is more risky based on the standard deviation, we compare the calculated standard deviations for Investment A and Investment B. The investment with a higher standard deviation is considered to be more risky.

If the standard deviation for Investment A is higher, then Investment A is more risky. If the standard deviation for Investment B is higher, then Investment B is more risky. Less deviation from the average does not necessarily indicate lower risk. It is the magnitude of the deviation, measured by the standard deviation, that determines the riskiness of an investment.

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The payback period for the new log splitter is calculated by dividing the initial investment by the annual cash flows. In this case, the payback period would be: Payback period = $180,000 / $25,000 = 7.2 years Therefore, it would take approximately 7.2 years for the company to recoup the initial investment through the annual cash flows generated by the log splitter.

The accounting rate of return (ARR) is calculated by dividing the average annual accounting profit by the initial investment, and then expressing it as a percentage. To calculate the ARR, we need to determine the average annual accounting profit:

Average annual accounting profit = Incremental revenues - Incremental expenses

= $150,000 - $100,000

= $50,000

The ARR is then calculated as:

ARR = (Average annual accounting profit / Initial investment) * 100

= ($50,000 / $180,000) * 100

≈ 27.8%

Therefore, the accounting rate of return for the new log splitter is approximately 27.8%. This means that the investment is expected to generate an average annual accounting profit equivalent to 27.8% of the initial investment.

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The statement is false. US Treasury bills are often used as a proxy for nominal interest rates, not real interest rates. Nominal interest rates represent the actual interest rate charged on a loan or earned on an investment.

The statement is false. US Treasury bills are often used as a proxy for nominal interest rates, not real interest rates. Nominal interest rates represent the actual interest rate charged on a loan or earned on an investment, without adjusting for inflation. On the other hand, real interest rates take into account the effects of inflation by subtracting the inflation rate from the nominal interest rate. To correct the statement, we could say, "US Treasury bills are often used as a proxy for nominal interest rates, which reflect the actual interest rate without adjusting for inflation."

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(b) Ceteris paribus is a Latin expression that means "all other things being equal," and is a crucial concept in economics. It is used by economists to explore the relationship between two variables while keeping all other variables constant.

Capital stock refers to the total amount of capital held by a company or an economy, including goods like factories, machinery, and other tools that can be used to generate additional income. It is the amount of funds put into a business by its investors.

Short Run Aggregate Supply (SRAS) refers to the quantity of total output that businesses in an economy will create at a specific price level.

Point A is a graphical point that represents the intersection of aggregate supply and aggregate demand, and represents the equilibrium point where supply equals demand. In Figure 13-2, a decrease in the capital stock would be represented by a movement from point A to point B, according to the figure.

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To find the portfolios attaining returns (1,0) and (0,1), we need to solve the system of equations where the portfolio weights multiplied by the asset returns equal the desired returns. The risk-neutral probabilities of state 1 and 2 are 0.83 and 0.17, respectively.

Let x and y represent the portfolio weights for asset 1 and asset 2, respectively.

For the portfolio attaining return (1,0):
3x + 1y = 1
x + y = 0
Solving this system of equations, we find that x = -1/2 and y = 1/2.

For the portfolio attaining return (0,1):
3x + 1y = 0
x + y = 1
Solving this system of equations, we find that x = 1/2 and y = -1/2.

To find the prices of the portfolios delivering returns (1,0) and (0,1), we multiply the portfolio weights by the prices of the assets.
For the portfolio delivering return (1,0):
Price = 4(-1/2) + 3(1/2) = 2.5

For the portfolio delivering return (0,1):
Price = 4(1/2) + 3(-1/2) = 0.5

The risk-neutral probabilities of state 1 and 2 can be found by dividing the price of the corresponding portfolio by the sum of the prices of both portfolios.

For state 1:
Prob(state 1) = Price of portfolio delivering return (1,0) / (Price of portfolio delivering return (1,0) + Price of portfolio delivering return (0,1))
             = 2.5 / (2.5 + 0.5)
             = 2.5 / 3
             = 0.83

For state 2:
Prob(state 2) = Price of portfolio delivering return (0,1) / (Price of portfolio delivering return (1,0) + Price of portfolio delivering return (0,1))
             = 0.5 / (2.5 + 0.5)
             = 0.5 / 3
             = 0.17

Therefore, the risk-neutral probabilities of state 1 and 2 are 0.83 and 0.17, respectively.

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The Covid pandemic and its immediate aftermath have had a significant impact on the decisions taken by fund managers in deciding suitable allocations among asset classes and other investment decisions.

Here are some key aspects to consider:

Market Volatility: The pandemic caused significant market volatility and uncertainty, leading to increased risk aversion among investors. Fund managers had to carefully assess the impact of the pandemic on various asset classes and adjust their allocations accordingly. They needed to consider the short-term disruptions and the potential long-term structural changes caused by the pandemic.

Sector and Industry Analysis: The pandemic had a disproportionate impact on different sectors and industries. Some sectors, such as travel, hospitality, and retail, were severely affected, while others, like technology and healthcare, experienced growth. Fund managers had to conduct in-depth sector and industry analysis to identify the winners and losers and make informed allocation decisions.

Asset Class Shifts: The pandemic highlighted the importance of diversification and the need to reassess traditional asset class allocations. Fund managers had to reevaluate the risk-return profiles of various asset classes and consider alternative investments such as private equity, venture capital, and real estate to enhance portfolio resilience and potential returns.

Risk Management and Portfolio Rebalancing: The pandemic reminded fund managers of the importance of robust risk management strategies. They had to monitor portfolio risks more closely, review asset correlations, and rebalance portfolios to align with changing market conditions. Some managers adopted defensive strategies, reducing exposure to highly volatile assets and increasing cash positions to manage liquidity risks.

Focus on ESG Factors: The pandemic also accelerated the focus on environmental, social, and governance (ESG) factors. Fund managers recognized the importance of sustainability and resilience in investment decisions. They incorporated ESG considerations into their analysis, considering factors such as company resilience, supply chain risks, employee well-being, and corporate governance practices.

Long-Term Investment Outlook: The pandemic and its aftermath prompted fund managers to reassess their long-term investment outlook. They had to consider the potential lasting impact of the pandemic on economic growth, consumer behavior, and geopolitical dynamics. This assessment influenced their asset allocation decisions and investment themes for the future.

In summary, the Covid pandemic and its immediate aftermath had a profound impact on fund managers' decisions. They had to navigate increased market volatility, reassess sector dynamics, review traditional asset class allocations, manage risks effectively, focus on sustainability, and adapt their long-term investment outlook. The experience of the pandemic is likely to shape investment decisions for years to come, with an increased emphasis on resilience, flexibility, and adaptability.

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The best definition of the network approach is (option) d."consideration of all external forces that have an impact on businesses."

It involves understanding and analyzing the various interconnected relationships and influences that affect a business, including stakeholders, industry trends, market dynamics, and broader societal factors.

The network approach is a strategic perspective that recognizes the interconnectedness of businesses and the broader environment in which they operate. It goes beyond a narrow focus on sales, lead generation, or persuasion techniques, and instead emphasizes the consideration of all external forces that can impact a business.

1. Interconnected relationships:

The network approach recognizes that businesses are not isolated entities but are part of complex networks of relationships. This includes relationships with customers, suppliers, competitors, regulatory bodies, industry associations, and other stakeholders. Understanding and managing these relationships is crucial for success.

2. Environmental analysis:

The network approach involves analyzing the external environment in which a business operates. This includes factors such as economic conditions, technological advancements, social and cultural trends, political and legal frameworks, and environmental considerations. By considering these external forces, businesses can anticipate changes, identify opportunities, and mitigate risks.

3. Stakeholder perspective:

The network approach recognizes the importance of stakeholders and their influence on a business. Stakeholders can include customers, employees, shareholders, government agencies, community organizations, and more. By understanding the needs, expectations, and power dynamics of various stakeholders, businesses can make informed decisions and build mutually beneficial relationships.

4. Holistic view:

The network approach takes a holistic view of the business environment. It acknowledges that actions and decisions in one area can have ripple effects across the network. This perspective encourages businesses to consider the broader impacts of their choices and to adopt a responsible and sustainable approach.

In summary, the network approach in business involves considering and analyzing all external forces that have an impact on businesses. It encompasses understanding interconnected relationships, conducting environmental analysis, adopting a stakeholder perspective, and taking a holistic view. By embracing this approach, businesses can navigate the complexities of their operating environment and make strategic decisions that align with their goals and the interests of their stakeholders.

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Based on the provided information, the EAC (Estimate at Completion) for the A-12 program appears to be unrealistic. Several factors indicate this, including the project being behind schedule, overspending of the EAC, a significant difference between the CPI (Cost Performance Index) and TCPI (To-Complete Performance Index), and a projected overrun (VAC) that is worse than the cost variance to date (CV). Additionally, the statistical EACs suggest potential cost overruns. As a consultant for the government, it is recommended to take immediate action to reassess and address the issues in the A-12 program to prevent further cost and schedule deviations.

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The United States' position as a top exporter is facilitated by formal institutions such as export assistance programs and free trade agreements, as well as informal institutions that promote the consumption and appreciation of U.S. products globally.

Formal institutions, such as export assistance programs and free trade agreements, contribute to the United States' success as a top exporter. The article mentions that at least ten federal agencies offer export assistance, providing support to U.S. firms. Additionally, the United States has 12 free trade agreements in force with 18 countries, which reduce trade barriers and create a more favorable trading environment for U.S. exports. These formal institutions help to facilitate and promote international trade for U.S. businesses.

Informal institutions, such as consumer preferences and cultural norms, also play a role in the success of U.S. exports. The article mentions the proliferation of consuming and appreciating U.S. products overseas, indicating a positive perception and desirability of made-in-USA products. Specific examples mentioned include the popularity of Hollywood blockbusters in Paris metro stations and the success of U.S. fast-food chains like KFC in countries like Ghana. These examples highlight the influence of informal institutions in driving demand for U.S. exports.

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The United States is a top exporter due to factors in both formal and informal institutions. Examples include the existence of free trade agreements (FTAs) and the positive reputation of US products overseas.

From a institution-based view, there are several factors, both formal and informal, that contribute to the United States being a top exporter.

One example of a formal institution is the existence of free trade agreements (FTAs) which reduce trade barriers and create a more stable and transparent trading environment. The United States currently has 12 FTAs in force with 18 countries. These FTAs have helped to increase US exports to these countries.

An example of an informal institution is the positive perception and reputation of US products overseas. The article mentions that consuming and appreciating US products is considered cool around the world. This positive perception helps to drive demand for US exports.

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The external funds needed calculated in Part b ($281 million) is equal to the increase in Total Liabilities and Equity ($227.68 million) compared to the current balance sheet.

Part a: Current Balance Sheet for Charming Florist Ltd. (using projected sales figure):

Current Assets:

Cash: 20% of $360 million = $72 million

Accounts Receivable: 20% of $360 million = $72 million

Inventory: 20% of $360 million = $72 million

Total Current Assets = $72 million + $72 million + $72 million = $216 million

Fixed Assets: 75% of $360 million = $270 million

Total Assets = Current Assets + Fixed Assets = $216 million + $270 million = $486 million

Short-term Debt: 15% of $360 million = $54 million

Long-term Debt: $105 million

Common Stock Par Value: $46 million

Total Liabilities and Equity = Short-term Debt + Long-term Debt + Common Stock Par Value = $54 million + $105 million + $46 million = $205 million

Part b: External Funds Needed for the upcoming fiscal year:

Net Income = Profit Margin * Sales

Net Income = 9% * $360 million = $32.4 million

Dividends = 30% of Net Income = 30% * $32.4 million = $9.72 million

Retained Earnings = Net Income - Dividends = $32.4 million - $9.72 million = $22.68 million

Increase in Total Liabilities and Equity = External Funds Needed = Total Assets - Total Liabilities and Equity

External Funds Needed = $486 million - $205 million = $281 million

Part c: Pro-forma Balance Sheet for the next fiscal year:

Current Assets:

Cash: $72 million

Accounts Receivable: $72 million

Inventory: $72 million

Total Current Assets: $216 million

Fixed Assets: $270 million

Total Assets: $486 million

Short-term Debt: $54 million

Long-term Debt: $105 million

Common Stock Par Value: $46 million

Retained Earnings: $22.68 million (calculated in Part b)

Total Liabilities and Equity: $227.68 million (Short-term Debt + Long-term Debt + Common Stock Par Value + Retained Earnings)

This confirms the external funds needed for the upcoming fiscal year.

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a) The supply and demand schedules for pizza are as follows:

P = $5, Qd = 300 – 20(5) = 200

P = $6, Qd = 300 – 20(6) = 180

P = $7, Qd = 300 – 20(7) = 160

P = $8, Qd = 300 – 20(8) = 140

P = $9, Qd = 300 – 20(9) = 120

P = $10, Qd = 300 – 20(10) = 100

P = $11, Qd = 300 – 20(11) = 80

P = $12, Qd = 300 – 20(12) = 60

P = $13, Qd = 300 – 20(13) = 40

P = $14, Qd = 300 – 20(14) = 20

P = $15, Qd = 300 – 20(15) = 0

in equilibrium, 100 pizzas would be sold at a price of $10.

If suppliers set the price of pizza at $15, it would be above the equilibrium price of $10.To find the new equilibrium price and quantity of pizza, we need to equate the new demand equation with the supply equation:

600 – 40P = 20P – 100

Supply Schedule:

P = $5, Qs = 20(5) – 100 = 0

P = $6, Qs = 20(6) – 100 = 20

P = $7, Qs = 20(7) – 100 = 40

P = $8, Qs = 20(8) – 100 = 60

P = $9, Qs = 20(9) – 100 = 80

P = $10, Qs = 20(10) – 100 = 100

P = $11, Qs = 20(11) – 100 = 120

P = $12, Qs = 20(12) – 100 = 140

P = $13, Qs = 20(13) – 100 = 160

P = $14, Qs = 20(14) – 100 = 180

P = $15, Qs = 20(15) – 100 = 200

b) In equilibrium, the quantity demanded (Qd) equals the quantity supplied (Qs). From the schedules, we can see that at a price of $10, the quantity demanded and supplied is 100 pizzas. Therefore, in equilibrium, 100 pizzas would be sold at a price of $10.

c) If suppliers set the price of pizza at $15, it would be above the equilibrium price of $10. This means that the price is higher than what consumers are willing to pay, resulting in excess supply. At $15, the quantity supplied is 200 pizzas, while the quantity demanded is 0 pizzas. To adjust to this situation, suppliers would have to lower the price to attract buyers. As the price decreases, the quantity demanded would increase, and the quantity supplied would decrease. The market would continue to adjust until it reaches a new equilibrium where the quantity demanded equals the quantity supplied.

d) If the price of hamburgers, a substitute for pizza, doubles, the demand for pizza would also double. This means that at each price level, consumers would demand twice as much pizza as before. The equation for the new market demand for pizza can be written as:

Qd = 600 – 40P

e) To find the new equilibrium price anquantity of pizza, we need to equate the new demand equation with the supply equation:

600 – 40P = 20P – 100

Simplifying the equation, we get:

60P = 700

P ≈ $11.67

Substituting the price back into either the demand or supply equation, we can find the quantity:

Q = 20(11.67) – 100

Q ≈ 73.4

Therefore, the new equilibrium price of pizza is approximately $11.67, and the new equilibrium quantity is around 73.4 pizzas

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Audit objectives for non-current securities include existence, completeness, ownership, accuracy, valuation, classification, and presentation to ensure accurate financial reporting. Audit procedures involve walkthroughs, internal control review, evidence examination, reconciliation, confirmations, and portfolio review.

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A Play on Words owns a movie theatre that has an accounting net book value value of $4,000,000 and a tax basis (undepreciated capital cost) of $3,500,000, which means there is a temporary difference of $500,000. The company’s tax rate is 40%.

This would result in taxes payable of $60,000.Temporary differences refer to the difference between the tax basis of an asset or liability and its book value in the accounting books.

The tax basis is also known as the undepreciated capital cost (UCC) and is used to calculate tax depreciation allowances. Temporary differences are important because they result in deferred tax assets or liabilities that can impact future tax payments.

The formula to calculate taxes payable due to temporary differences is:Temporary Differences x Tax Rate = Taxes PayableIn this case, the temporary difference is $500,000 and the tax rate is 40%. So, using the formula above, we get:Taxes Payable = $500,000 x 40% = $200,000.

Here, since there is no deferred tax asset mentioned, we can assume that the full deferred tax liability is the taxes payable. Thus, the taxes payable due to temporary differences in this case would be $200,000 x 30% = $60,000.

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(a) One Nash equilibrium is for each player to name 1/3 of the chocolate bar.

(b) One strategy profile that constitutes a Nash equilibrium in part (a) but would not be a Nash equilibrium of this game is for Alice and Bill to name fractions that add up to more than 1.

(c) The mom gets 3/8 of the chocolate bar in both SPNEs. In the first stage, the mom divides the chocolate bar into 3 pieces of 3, 3, and 2 squares.

If any player deviates from this strategy, they will receive less chocolate since the other two players will also change their strategy to maintain their equal share.

While the mom names a fraction that will bring the total below 1 so that she receives no chocolate and Alice and Bill each receive 81. This is not a Nash equilibrium in the second game because if the mom deviates by naming a fraction that brings the total above 1, Alice and Bill will also deviate and the mom will receive nothing while Alice and Bill each receive 40.5.

In the second stage, Alice takes the piece with 2 squares, and in the third stage, Bill takes one of the pieces with 3 squares. The mom then takes the remaining piece with 3 squares. Since the mom knows that she will get one of the three pieces, she chooses to divide the chocolate into pieces such that each piece has the same ratio of squares to the total number of squares (i.e. 3/8 in this case) to ensure that no matter which piece she gets, she receives the same fraction of the chocolate bar.

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The answer that would reduce the costs associated with acquiring resources for your team is option A, which is sharing resources instead of using dedicated resources. Resource allocation refers to the process of assigning the available resources of an organization or an individual to meet the needs of a specific task, project, or organizational goal.

Resource allocation necessitates the efficient use of resources, such as human resources, financial resources, and material resources, in order to obtain the best possible outcomes. Most importantly, resource allocation helps in the reduction of costs associated with acquiring resources for the team.What are the advantages of sharing resources instead of using dedicated resources?There are several advantages of sharing resources instead of using dedicated resources. They include:Reduced costs: Sharing resources instead of using dedicated resources can significantly reduce the costs associated with resource acquisition. This is because sharing resources is more cost-effective than buying or renting dedicated resources. Furthermore, sharing resources allows organizations to make the most of existing resources, minimizing the need to purchase additional resources.Increased flexibility: Sharing resources allows for greater flexibility in resource allocation. This is because shared resources can be used for a variety of tasks or projects. Furthermore, shared resources can be quickly and easily relocated to meet changing needs.Improved collaboration: Sharing resources improves collaboration between team members and promotes knowledge sharing. Team members can work together more effectively when they have access to the same resources.

Resource allocation is crucial for the success of any project or organizational goal. Sharing resources instead of using dedicated resources can significantly reduce the costs associated with resource acquisition. This approach also allows organizations to be more flexible and collaborative. Thus, reducing the costs of acquiring resources for the team is a wise move for any organization.

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To determine whether Universal Electronics should purchase the asset, we need to calculate the net present value (NPV) of the investment. The NPV compares the present value of cash inflows and outflows associated with the investment.

First, let's calculate the present value of cash inflows:

PV_inflows = (EBDT - Depreciation) * (1 - Tax rate) * PVIFA(cost of capital, years) + Terminal value

Where:

EBDT = Earnings before depreciation and taxes

Depreciation = Annual depreciation expense

Tax rate = Tax rate applied to earnings

PVIFA = Present Value Interest Factor of Annuity

Using the information provided:

EBDT = $36,000 for 3 years and $18,000 for 7 years

Depreciation = Cost of the asset / Depreciation years = $130,000 / (10 + 1 + 10) = $4,333.33

Tax rate = 36%

Cost of capital = 10%

PVIFA(10%, 3 years) = 2.4869 (from Table 12-12)

PVIFA(10%, 7 years) = 4.8684 (from Table 12-12)

PV_inflows = ($36,000 - $4,333.33) * (1 - 0.36) * 2.4869 + ($18,000 - $4,333.33) * (1 - 0.36) * 4.8684 = $51,234.81

Next, let's calculate the present value of cash outflows (initial cost of the asset):

PV_outflows = Cost of the asset = $130,000

Now, we can calculate the net present value (NPV):

NPV = PV_inflows - PV_outflows = $51,234.81 - $130,000 = -$78,765.19

The net present value is negative, indicating that the investment is not expected to generate sufficient returns to cover the cost. Therefore, based on the net present value, Universal Electronics should not purchase the asset.

Answer: No, Universal Electronics should not purchase the asset.

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