Answer: quickstart batteries will need to be guaranteed for 26 months
Explanation:
the question is incomplete to calculate guarantee period given the maximum refund percentage of 7% we need the mean average life of Quick start batteries and a standard deviation. Let us assume that the mean average life of quickstart batteries is 36 months and standard deviation is 7 months.
P(Z < z*) = 0.07 has a z* = -1.48 [from the Standard Normal table]
Answer = 36 + (-1.48)(7) = 25.64 = 26 months or approximately 35 months
Faced with constantly changing conditions, why would a firm ever keep any factors fixed? What criteria determine whether a factor is fixed or variable?
Final answer:
Firms may keep certain factors fixed in order to maintain stability or control over their operations. Fixed factors in business are typically those that are difficult or expensive to change in the short term. Variable factors can be easily adjusted or changed in response to market conditions.
Explanation:
In business, firms may choose to keep certain factors fixed to maintain stability or control over their operations. For example, a firm may choose to keep its workforce or facilities fixed if it wants to maintain a consistent level of production or if it is currently unable to make changes due to financial or logistical constraints.
Factors that are considered fixed in business are typically those that are difficult or expensive to change in the short term. This can include long-term contracts with suppliers or landlords, the size and layout of physical facilities, or the skillsets and experience of employees.
On the other hand, factors that are considered variable in business are those that can be easily adjusted or changed in response to market conditions. This can include factors such as product pricing, advertising strategies, production levels, or the use of technology.
If you manage a 200-room hotel, and only sell 150 rooms tonight, you can't stockpile the extra 50 rooms to sell tomorrow. This is a problem with the ________ of services.
Answer: Perishability
Explanation: Perishability of services implies that service capacity cannot be stored, saved, returned, or resold once rendered to a customer and perishability can affect company performance as balancing supply and demand is very difficult.Perishability is the services that cannot be stored, saved, returned, or resold once they have been used. Furthermore, once the service is rendered to a customer, the service is completely consumed and cannot be delivered to another customer.
A logical data flow diagram: does not include any primitive processes. is a model of how the business operates. includes types of programs, such as online or batch. is a model of how the system will be implemented.
Answer:
Is a model of how the system operates
Explanation:
A logical data flow diagram focuses on the business and how the business operates. It describes the business events that take place and the data required and produced by each event.
A logical data flow diagram is a tool used in system analysis and design. It models how a business operates by providing a high-level view of the overall system and its business processes, rather than specifying details about how the processes are carried out or the types of programs used.
Explanation:A logical data flow diagram is a tool that is commonly used in systems analysis and design. In contrast to physical data flow diagrams (DFDs), a logical data flow diagram primarily focuses on the system’s business processes. It does not include detailed information such as any primitive processes or types of programs like online or batch. Instead, a logical DFD models how a business operates, rather than how the system will be implemented.
Thus, logical data flow diagrams focus on the business and what its procedures are. They provide a bird's eye view of the overall system before going into the system's minor details. However, they do not specify details about how the processes are carried out;
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Escalating worldwide demand for corn has led to a sharp increase in the market price of corn, and corn prices are likely to remain high. Corn is extensive used as feed for livestock, and because profit margins are tight in the livestock business, many farmers are expected to leave the business. With fewer suppliers, meat prices will surely rise. Nonetheless, observers expect an immediate short-term decrease in meat prices.
Which of the following, if true, most helps to justify the observers’ expectation?
(A) The increase in corn prices is due more to a decline in the supply of corn than to a growth in demand for it.
(B) Generally, farmers who are squeezed out of the livestock business send their livestock to market much earlier than they otherwise would.
(C) Some people who ate meat regularly in the past are converting to diets that include little or no meat.
(D) As meat prices rise, the number of livestock producers is likely to rise again.
(E) Livestock producers who stay in the business will start using feed other than corn more extensively than they did in the past.
Answer:
If consumers who ate meat regularly in the past shifts to other substitute diets,then lower demand for meat could pull the meat price at least in the short term.Hence,the correct option could be (C) in this case.Explanation:
Initially based on the basic demand and supply theory in Microeconomics,the excessive demand for corn as a livestock feed would increase the global corn price which along with less meat suppliers would be sequentially reflected in higher meat prices.Now,the higher price of corn as a raw material for livestock maintenance would raise the final price of meat in the market but to lower the prices at the same time,some demand side adjustment/s need/s to be made to restore the meat price to its previous point or position.Therefore,if the consumers switch to substitute diets for meat,the demand for meat decreases in the near future or considerably short period and the expected hike in meat price can be prevented or it can possibly decrease.Therefore,based on the demand and supply model,in this case,demand side adjustments in the market can expectedly contain the meat prices and pull it down in the short run.
This morning, DJ’s invested $238,000 to help fund a company expansion project planned for three years from now. How much additional money will the firm have three years from now if it can earn 4 percent rather than 3.5 percent on its savings?
Answer:
$3,842.78
Explanation:
We must determine the future value of the money invested and then calculate the difference between both return rates. We can use the future value formula: FV = present value x (1 + return rate)ⁿ
3.5% ⇒ FV = $238,000 x (1 + 3.5%)³ = $238,000 x 1.035³ = $263,874.85
4% ⇒ FV = $238,000 x (1 + 4%)³ = $238,000 x 1.04³ = $267,717.63
difference = $267,717.63 - 263,874.85 = $3,842.78
The country of Ambos Republic defined its currency, ambos, as being equivalent to 16 grains of "fine" (pure) gold. Assuming that there are 480 grains in an ounce, the gold par value of the ambos is
a.) 30
b.) 22
c.) 14
d.) 28
e.) 20
Answer:
A. 30
Explanation:
Given that
16 grains of fine gold = 1 ambos
480 grains in ounce
Recall that par value = face value.
Therefore
Gold par value of 480 grains of ambos
= 480 ÷ 16
= 30
There will be a higher equilibrium price and lower quantity if _____.
demand increases and supply stays the same
supply decreases and demand increases
supply increases and demand decreases
supply decreases and demand stays the same
Answer:
D: supply decreases and demand stays the same
There will be a higher equilibrium price and lower quantity if the supply decreases and demand stays the same. Thus, the statement "supply decreases and demand stays the same" is the correct filler to be filled in.
How does the Law of Supply and Demand affect prices?An economic theory called the law of supply and demand describes how supply and demand are connected to one another and how this relationship impacts how much products and services cost. A basic tenet of economics is that when there is more supply than demand for an item or service, prices decline. Prices typically increase when demand outpaces supply.
When demand is constant, there is an inverse connection between the supply and pricing of products and services. Prices tend to decrease to a lower equilibrium price and a greater equilibrium quantity of goods and services if the supply of goods and services increases while demand stays the same.
Prices tend to increase to a higher equilibrium price and a lesser quantity of goods and services when the supply of goods and services declines and demand stays the same.
Thus, the option "supply decreases and demand stays the same" is correct.
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You are currently searching for a new job and have decided to make cold calls to a few local businesses. Create a script that you could use that would introduce yourself, summarize your background, and explain why you are calling
Answer:
Good Morning Grace.
This is Yate.
I am calling from Boston
I recently graduated from the University of Boston with a Honors degree in Business, after which I've had 2 year's experience working with the Local Council's department of commerce.
I have researched your Firm "Lloyds Inc." and it seems an ideal place I can bring to life my skills as a Financial Analyst.
Considering the consistent influence your Business has had in the investing world I am confident building my career at Lloyds Inc would be the best choice I'm making.
Would you mind me stopping by your office before Lunch break to put in my resume and application, and then you may talk me through the openings available and the culture at Lloyds Inc or you'd rather I send my resume and application through email and we can discuss via mail.
Thank You Grace for your time.
Explanation:
Prior to making the call it would be good to have researched the company for contacts you can reach, and the line of Business they are into. Whilst also recognizing how your expertise would fit into theirs.
Once satisfied there is an alignment in your experience and the way they operate, we can go ahead and make the call.
Cold calls should be turned to warm calls by engaging positively the person at the other end without being intrusive.
You need a note pad and Pen to highlight what you what you wish to say in brief details, and the notepad would help you also document what is being said to you. Maybe a name, a phone number, an email address or other details that you may receive in the course of the call.
For sample sake, the caller is Yate and the contact in the organization is Grace.
We are making this call at 10am in the morning when the early meetings must have been concluded and everyone seems to be having a calm day going already.
Good Morning Grace.
This is Yate.
I am calling from Boston
I recently graduated from the University of Boston with a Honors degree in Business, after which I've had 2 year's experience working with the Local Council's department of commerce.
I have researched your Firm "Lloyds Inc." and it seems an ideal place I can bring to life my skills as a Financial Analyst.
Considering the consistent influence your Business has had in the investing world I am confident building my career at Lloyds Inc would be the best choice I'm making.
Would you mind me stopping by your office before Lunch break to put in my resume and application, and then you may talk me through the openings available and the culture at Lloyds Inc or you'd rather I send my resume and application through email and we can discuss via mail.
Thank You Grace for your time.
Final answer:
An effective elevator pitch introduces your background, highlights your skills and experiences, explains why you're reaching out, and ends with a proposition for further conversation. It's a concise, persuasive introduction tailored for networking, cold calls, and interviews.
Explanation:
When venturing into the job market, an effective elevator pitch is crucial for making a strong first impression. The ability to succinctly communicate your background, skills, and job aspirations to potential employers can significantly increase your chances of landing your ideal job. Here is a guide to crafting your pitch, perfect for cold calls, networking, and interviews.
Step 1: Introduce Yourself and Summarize Your Background
Hello, my name is [Your Name], and I recently graduated from [Your University] with a degree in [Your Degree]. Over the past few years, I have gained valuable experience working in [Industry/Field], specifically in roles focused on [Brief Description of Your Roles].
Step 2: Highlight What You Have to Offer
I am eager to find a position that allows me to apply and expand upon my skills in [Specific Skills or Areas], which I see as directly relevant to your company. During my time at [Previous Company/Project], I successfully managed to [Specific Achievement or Project], which I believe demonstrates my ability to contribute to your team effectively.
Step 3: Explain Why You Are Calling
The reason I am reaching out is that I've been following your company's growth and am impressed by [Something Specific About the Company]. I am particularly interested in how my background in [Your Background] can contribute to your goals, especially in [Company's Area of Need]. I would love the opportunity to discuss how I can bring value to your team and learn more about any upcoming opportunities.
Step 4: Closing with a Clear Next Step
I am very enthusiastic about the prospect of contributing to your company and would greatly appreciate the chance to discuss how my skills and experiences align with your needs. May we schedule a time for a brief conversation or meeting? Thank you for considering my application. I look forward to the possibility of working together.
Mad Hatter Publishing specializes in genre fiction for young adults. A popular mystery author has just completed the final book in a trilogy. Currently, production at Mad Hatter Publishing is at point R. To which point or points is production likely to shift?
A. Q or R
B. Q or T
C. T or V
D. V or Q
Final answer:
The question lacks context to accurately determine to which point Mad Hatter Publishing's production is likely to shift after completing a popular mystery trilogy. In general, shifts in production are based on market trends, genre popularity, and anticipated demand.
Explanation:
The question seems to be based on a hypothetical situation involving Mad Hatter Publishing, specializing in genre fiction for young adults, and a shift in its production following the completion of a book trilogy by a mystery author. Since the actual positions (Q,R,T,V) are not described within the context of how the publishing process operates or what these points might represent, it is not possible to provide a definitive answer.
In the publishing industry, a company might shift its production focus based on a variety of factors such as genre popularity, market trends, and sales forecasts. For example, if the final book in a popular mystery trilogy is complete, the company might increase its production capacity (perhaps move to point T or V) in anticipation of high demand, or it might diversify its production by focusing on another burgeoning genre (moving to point Q), managing its portfolio to minimize risk and maximize potential revenue.
Genres like mystery tales often contain elements made famous by authors such as Edgar Allan Poe and Mary Shelley, who created stories with monsters, occult forces, and magic. Gothic tales, a sub-genre referenced in the given context, features supernatural and dream-like events in settings like abandoned castles with ghosts and vampires. These references to well-known authors and story elements illustrate the kinds of genre fiction that a company like Mad Hatter Publishing might produce.
A local Sports Authority ordered 50 pairs of tennis shoes from Nike Corporation. The shoes were priced at $85 for each pair with the following terms: 4/10, 2/30, n/60. The invoice was dated October 15. Sports Authority sent in a payment on October 28. What should have been the amount of the check
Answer:
The amount of check should have been $4,165
Explanation:
4/10, 2/30, n/60 term means there is a discount of 4% and 2 % available on the payment made withing 10 days and 30 days respectively with net credit period of 60 days. The invoice is made on 15 October and the authority sent the payment on October 28 after 10 days and within 30 days. Now the Payment is eligible for the discount of 2%. The amount of check should have been $4,165
Sales Amount = 50 x $85 = $4,250
Discount available = $4,250 x 2% = $85
Amount of Check = $4,250 - $85 = $4,165
Many countries in sub-Saharan Africa have very low labor productivity in many sectors, for example in manufacturing and agriculture. They often despair of even trying to attempt to build their industries unless it is done in an autarkic context, behind protectionist walls because they do not believe they can compete with more productive industries abroad. Discuss this issue in the context of the Ricardian model of comparative advantage.
Answer:
The government of those countries are using a very common argument in favour of protectionism, and that is the infant industry argument.
They are saying that the only way a domestic industry can emerge, is by closing it off from foreign competition, until it becomes so strong that it can compete.
In the Ricardian Model, this view would be incorrect because the governments are not taking advatange of their countries comparative advantage. Under a Ricardian Model, no matter how poor the country is, if it specializes in the sectors where it has a comparative advantage, and imports the rest, it will make allow its citizens to consume more goods and services.
Suppose that 300 bottles of soda are demanded at a particular price. If the price of a bottle of soda rises from that price by 6 percent, the number of bottles of soda demanded falls to 275. Using the midpoint approach to calculate the price elasticity of demand, it follows that the a. demand for bottles of soda in this price range is perfectly elastic. b. price increase will increase the total revenue of soda sellers. c. price elasticity of demand for bottles of soda in this price range is about 0.69. d. price elasticity of demand for bottles of soda in this price range is about 1.45.
Answer: Price elasticity of demand for bottles of soda in this price range is about 1.45. Option D
Explanation: First, we calculate the price elasticity using the midpoint approach thus.
((Q1 - Q2) ÷ ((Q1 + Q2)/2)) / ((P1 - P2) ÷ ((P1 + P2)/2)).
But we already know the percentage increase in price as 6% or 0.06 for further calculations. Therefore, we have:
(300 - 275) ÷ (300 + 275)/2
= 25 ÷ 287.5
= 0.087 or 8.7%
Price elasticity is therefore:
0.087/0.06
= 1.45
Therefore the correct option is D.
The price elasticity of demand for bottles of soda using the midpoint approach is approximately 1.45, indicating that demand is price elastic. Thus, an increase in price would lead to a decrease in total revenue.
Explanation:To determine the price elasticity of demand for bottles of soda, we will use the midpoint approach. The formula for the midpoint elasticity is:
Elasticity = (Percentage change in quantity demanded) / (Percentage change in price)
Change in quantity = 275 - 300 = -25Midpoint quantity = (275 + 300) / 2 = 287.5Change in price = 6% (as the price increases by 6%)The percentage change in quantity demanded is (-25 / 287.5) × 100 = -8.6957%.
Now, we calculate the elasticity:
Elasticity = (-8.6957) / 6 ≈ -1.4493
The demand is price elastic if the absolute value of the elasticity is greater than 1, which means that the quantity demanded changes by a greater percentage than the change in price. Hence, choice d, stating that the price elasticity of demand for bottles of soda in this price range is about 1.45, is correct. This demonstrates that a price increase will indeed lead to a change in quantity demanded by a proportionately larger amount, thus affecting the total revenue with a decrease.
A firm's _______ are best described as distinct and fine-grained business processes such as order taking, physical delivery of products, or invoicing customers.
Answer:
Activities.
Explanation:
A firm's activities are the various business processes that a firm engages in with the aim of making profit or meeting other organisational goals.
They are distinct and well defined processes that have laid down prcedures and policy for execution. For example when a business is replying to the order of a client for a product there are laid down guides on how to go about this. From the expected turn around time to the steps in fulfilling the order.
These policies make a business's processes unique.
"A & D Window Cleaning performed $450 of services but has not yet billed customers for the month. If A & D fails to record the adjusting entry, what is the impact on the financial statements?"
Answer and Explanation:
The omitted Entry must be recorded as:
Dr Trade Receivables $450 Balance Sheet Item
Cr Revenue $450 Income Statement
This means that omiting this entry in the books of accounts would understate the revenues and the trades reveivables by $450. So this is impact on the financial statements.
Failure to record the adjusting entry of $450 for services rendered but not yet billed by A & D Window Cleaning will result in understating their revenues and assets, thereby impacting their financial statements.
Explanation:If A & D Window Cleaning fails to record the adjusting entry of $450 for services rendered but not yet billed, this will impact their financial statements by understating their revenues and assets. In accounting terms, this $450 represents an accrued revenue, which is a revenue that has been earned but not yet recorded in the books. Therefore, the failure to record an adjusting entry leads to understated income on the income statement and accounts receivable on the balance sheet, underestimating the company's profitability and financial status.
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Courtney is a self-employed consultant (a business activity). This year her consulting activity generated $19,500 of revenue and incurred $1,500 in expenses. How does she report the revenue and deductions from the activity?
Answer:
Revenue and expenses is recorded on Schedule C
Net income is recorded on front page (line 12) of her individual tax return
Explanation:
Courtney records the revenue of her consultancy or business activity as income and records the expenses of her consultancy or business activity for AGI on her Schedule C. She will record her net income given by the diffence between the revenue and expenses
Mathematically.
net income = revenue - expenses
net income = $ (19,500 - 1,500) = $ 18,000
Her net income of $ 18,000 from her consultancy or business activity is recorded on the front page (line 12) of her individual tax return
At ABC Services, Inc., all employees share a common set of beliefs and values that influence their behavior. This refers to organizational ___________.
Answer:
Organizational Culture
Explanation:
Organizational Culture -
It refers to the beliefs , expectation , values , experiences offered or required by an organisation , is referred to as organizational culture .
Having common customs , beliefs and working culture , makes the working life of the employees easy and convenient in the organisation .
Hence , a good and proper organizational culture is very important to have a good organization .
Hence , from the given scenario of the question ,
The correct answer is Organizational Culture .
The following information for Towsontown, Inc. is provided: Net Sales: $88,000 Operating Costs: $72,000 (doesn’t include depreciation) Depreciation Expense: $ 7,200 (no amortization charges occurred) Debt: $40,000 Interest Rates: 10% Annual Tax Rate: 34% How much net cash flow did Woodley generate over the past year? a. $3,168 b. $3,268 c. $10,168 d. $10,368 e. $11,368
Answer: d. $10,368
Explanation:
We can Calculate net cash flows by calculating Net Income and then add/subtract non cash items like depreciation ,accrued income etc.
Net Income Calculation
Net Income = $88000
Operating Costs = $72000
Depreciation = $7200
interest expense = $40000 x 10% = $4000
Net profit before Tax = 88000 - 72000 - 7200 - 4000 = 4800
income Tax expense = 4800 x 34/100 = 1632
Net income = 4800 - 1632 = $ 3168
Net Cash Flows = Net Income + Depreciation
Net Cash Flows = $3168 + $7200 = $10368
Cost-volume-profit (CVP) analysis is a simple but powerful tool to assist management in making operating decisions. Which of the following does not represent a potential use of CVP analysisAids in evaluating tax planning alternatives.
Complete Question:
Cost-volume-profit (CVP) analysis is a simple but powerful tool to assist management in making operating decisions. Which of the following does not represent a potential use of CVP analysis Aids in evaluating tax planning alternatives?
A. Ability to compute the break-even point.
B. Aids in evaluating tax planning alternatives.
C Ability to determine optimal sales volumes.
D. Aids in determining optimal pricing policies.
Answer:
Aids in evaluating tax planning alternatives.
Explanation:
Examination of the cost-volume profit (CVP) is used to assess how price-volume changes will affect operating profit and net revenue of a company.
There are several considerations in the conduct of this study, including that sales rates per product are constant. The cost is continuously variable per hour. There are constant overall fixed costs.
To order to make informed choices about the goods or services that they sell, often businesses and accountants use cost-volume benefit analysis. CVP analysis plays a greater role to management accounting than in finance accounting in this regard.
CVP analysis is a business tool used to help management make decisions on operations by assessing cost behavior and profit relationships. It is not commonly used for tax planning but rather for understanding the break-even point, effect of cost changes, and predicting profit outcomes based on sales and cost structures.
Cost-volume-profit (CVP) analysis is a strategic management tool used to determine the effects of changes in costs and volume on a company's profits.
It is primarily used by management for making integral operating decisions, such as determining the amount of sales necessary to break even or achieve a certain profit level, assessing the impact of changing costs, and analyzing the relationship between volume, costs, and prices.
CVP analysis is not typically used for evaluating tax planning alternatives; instead, it focuses on operational aspects such as determining the break-even point, analyzing the effects of changes in variable and fixed costs, understanding cost behavior, and calculating the margin of safety.
The core components of CVP analysis include fixed costs, variable costs, contribution margin, and the sales price.
By dividing total costs into fixed and variable costs, and analyzing these alongside sales and revenue, businesses can make informed decisions about production levels and pricing in order to maximize profits.
This division is crucial for understanding how costs behave with changes in the level of activity within the firm.
Additionally, CVP can aid in decision-making processes by performing cost/benefit analyses and assessing the financial viability of new programs or expansions.
During a certain six-year period, the consumer price index (CPI) increased by 50%, but during the next sis-year period, it increased by only 30%. Which of these conditions must have existed during the second six-year period?
A. Inflation
B. Stagnation
C. Conflation
D. Deflation
Answer:
D. Deflation
Explanation:
"Consumer Price Index" (CPI) measures the changes in the weighted average of prices of a market basket (consisting of consumer goods and services). It tells the cost of living for every consumer.
"Inflation" refers to the sustained increase of prices of goods and services while "deflation" refers to the sustained decrease of prices of goods and services.
In the situation above, the CPI is considered lower than before, thus deflation must have occurred during the second six-year period. It shows a negative inflation rate.
So, this explains the answer.
It is A. Inflation
Hope College is planning for the next biennium. School administrators know that the enrollment is on the decline, but still need to offer students the best experience possible. They want to shrink their payroll slowly. They can accomplish this through
They can accomplish this through early retirement.
Explanation:Early retirement is a way that we use to stop or discontinue something. Most of the aged person tends to choose early retirement for the purpose of achieving the benefits form the organisation to the most possible level. This decision can be taken when we know that the organisation will be closed in the near future and continuing work will not benefit us.
When we decide for the early retirement the befits that we attain from that will be more than the benefit that are obtained in continuing work. In the given example, Hope college has a plan for next biennium. But, the enrollments are reduced in number and they want to reduce the payroll slowly. Thus this can be accomplished with the help of early retirement.
What kind of transition does a peak mark in the business cycle?
A trough to depression
B recession to trough
C contraction to recovery
D expansion to contraction
expansion to contraction
Explanation:
The peak in a business cycle is marked by super-heated business sentiments, growth in business and increased production and hence enhanced profits. However, the transition to peak cycle is marked by a continuous phase of declining production capacity, depreciating profits and contraction of the business process.
Peak, contraction, slowdown, recovery is the phases of the cyclical business process. Peak gives way for contraction which eventually leads to slowdown. After a brief period of lull, the business recovers and again it ascends its peak and the cycle continues.
Jake, who runs a health food store, finds it is rewarding to interact with customers who like to eat organic and health food. Hence, he is recognized in the local community. Which objective of retailing does Jake emphasize by this practice:__________
Answer:
Personal objective.
Explanation:
Jake, who runs a health food store, finds it is rewarding to interact with customers who like to eat organic and health food. Hence, he is recognized in the local community. Personal objective of retailing that Jake emphasize by his practice.
Personal objective are the retail goal set by retailer, who use skill and domain knowledge of retail to impress other and gain respect from peer group.
There are three type of personal objective in retailing:
Self gratificationPower or authority.Respect.The competitive firm's short-run supply curve is its A. marginal cost curve. B. marginal cost curve, but only the portion above the minimum of average total cost. C. marginal revenue curve, but only the portion where marginal revenue exceeds marginal cost. D. marginal cost curve, but only the portion above the minimum of average variable cost.
Answer:
B. marginal cost curve, but only the portion above the minimum of average total cost.
Explanation:
A competitive firms short-run supply curve is a segment of the marginal cost and lies above the average variable costs and if a short run firm decides to shut down its prices of the goods is less than the average variable costs of production.The short-run supply curve of a competitive firm is its marginal cost curve. It is option A.
The correct answer is A. marginal cost curve. In the short run, the supply curve of a competitive firm is determined by its marginal cost curve.
This is because in the short run, a competitive firm aims to maximize its profits by producing where marginal cost equals marginal revenue.
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Last year, Jose had to invest. He invested some of it in an account that paid simple interest per year, and he invested the rest in an account that paid simple interest per year. After one year, he received a total of in interest. How much did he invest in each account? First account: Second account:
Answer:Please refer to the explanation section
Explanation:
The question is incomplete. We do not have the rate interest for both accounts. We also do not know how much is invested in each account. The question also has a typo, the question says "he invested some of it in an account that paid simple interest per year and invested the rest in an account that paid simple interest per year". We will make some assumption in order to provide a proper solution to this question
Assumptions:
Firstly we will assume he invested in a simple interest account and a compound interest account. assume
The total investment is $1000. $5000 is invested in each account.
Therefore the Present Value (PV) is $5000 for both accounts
Interest rate (R) is 10% per year for simple interest and 10% per per year Compounded monthly for compound interest account
Period (n) = 1 year
Simple Interest Account
Future Value (Simple Interest) = P(1 + Rn)
Future Value (Simple Interest) = $5000(1 + 0.10 x 1) = $5500
Interest from Simple interest account = 5500 - 5000 = $500
Compound interest Account
Future Value (Compound interest) = P(1 + R)^n
Future Value (Compound interest) = $5000(1 + 0.10/12)^12 = 5523.565337
Interest form Compound interest account = 5523.57 - 5000 = $523
compound interest account earned more interest than Simple interest Account
Answer:
Jose invests $9,000 in the first account and $1,000 in the second account.
Explanation:
let A = amount invested in first account
let B = amount invested in second account
0.08A + 0.05B = 770
A + B = 10,000
B = 10,000 - A (now replace B)
0.08A + 0.05(10,000 - A) = 770
0.08A + 500 - 0.05A = 770
0.03A = 770 - 500 = 270
A = 270 / 0.03 = 9,000
B = 10,000 - 9,000 = 1,000
An investor has money-making activities A and B available at the beginning of each of the next 5 years (call them years 1 to 5). Each dollar invested in A at the beginning of 1 year returns $1.40 (a profit of $0.40) 2 years later (in time for immediate reinvestment). Each dollar invested in B at the beginning of 1 year returns $1.70 3 years later.
In addition, money-making activities C and D will each be available at one time in the future. Each dollar investment in C at the beginning of year 2 returns $1.90 at the end of year 5. Each dollar invested in D at the beginning of year 5 returns $1.30 at the end of year 5.
The investor begins with $50,000 and wishes to know which investment plan maximizes the amount of money that can be accumulated by the beginning of year 6. Formulate the linear programming model for this problem.
Answer:
Linear programming model is 1.90 C2 + 1.70 B3 + 1.40 A4 + 1.30 D5
Explanation:
a. Decision Variables:
At = Money invested to A in t years ---- (t = 1,2,3,4)
Bt = Money invested to B t years ---- (t = 1,2,3)
C2 = Money invested to C in year 2 ----
D5 = Money invested to C in year 2 ----
R2 = Money not invested in t years ---- (t = 1,2,3,4)
b. Constraints
i) Equalities year wise
A1 + B1 +R1 = 50000 -------> Year 1
A2 + B2 +R2 = R1 -------> Year 2
A3 + B3 +R3 = 1.4 A1 + R2 -------> Year 3
A4 + R4 = 1.4 A2 + 1.7 B1 + R3 -------> Year 4
D5 = 1.4 A2 + 1.7 B2 + R4 -------> Year 5
ii) Non- Negative Constraints
At > 0 for t = 1,2,3,4
Bt > 0 for t = 1,2,3
C2 > 0
D5 > 0
Rt > 0 for t = 1,2,3,4
iii) Objective function will be = 1.90 C2 + 1.70 B3 + 1.40 A4 + 1.30 D5
Austin Limited is trying to determine the value of its Austin Limited is trying to determine the value of its ending inventory as of February 28, 2014, the company’s year-end. The following transactions occurred, and the accountant asked your help in determining whether they should be recorded or not. (a) On February 26, Austin shipped goods costing $800 to a customer and charged the customer $1,000. The goods were shipped with terms FOB shipping point and the receiving report indicates that the customer received the goods on March 2. (b) On February 26, Louis Inc. shipped goods to Austin under terms FOB shipping point. The invoice price was $450 plus $30 for freight. The receiving report indicates that the goods were received by Austin on March 2. (c) Austin had $650 of inventory isolated in the warehouse. The inventory is designated for a customer who has requested that the goods be shipped on March 10. (d) Also included in Austin’s warehouse is $700 of inventory that Ryhn Producers shipped to Austin on consignment. (e) On February 26, Austin issued a purchase order to acquire goods costing $900. The goods were shipped with terms FOB destination on February 27. Austin received the goods on March 2. (f) On February 26, Austin shipped goods to a customer under terms FOB destination. The invoice price was $350; the cost of the items was $200. The receiving report indicates that the goods were received by the customer on March 2. Instructions For each of the above transactions, specify whether the item in question should be included in ending inventory, and if so, at what amount.
Answer:
(a) Austin shipped goods FOB Shipping
Goods worth $ 800 is not to be included in inventory, as the title of the goods have passed to the buyer on shipping
Not to be included
(b) Louis Inc shipped goods to Austin on FOB shipping point worth $ 450 plus $ 30 for freight.
Austin is to record $ 450 as part of is inventory as the title has passed to Austin at shipping. The cost of freight is to be included as a cost by Austin as freight in.
To be included $450
(c) Designated for a customer $ 650 isolated in the warehouse to be shipped later.
This is not to be include In Austin inventory as the goods are kept on behalf of the customer. The goods are owned by the customer
Not to be included
(d) Austin had $ 700 goods kept on consignment in the warehouse.
Consignment goods are not part of the inventory of Austin (consignee) as the goods title is still with consignor
Not to be included
(e) Goods ordered on FOB Destination for $900
Not part of the inventory of Austin as goods title will only be passed when the goods reach Austin as the inventory is FOB destination
Not to be included
(f) Goods shipped on FOB destination $ 200 cost and selling price $ 350
Goods are still to be included in the inventory at $ 200 as the title will pass when the goods reach the destination
To be included $200
To determine whether the items should be included in Austin Limited's ending inventory, it depends on the shipping terms and the risk of loss transfer. Goods shipped under FOB shipping point to Austin are included at their invoiced cost plus any freight. Meanwhile, goods sent to customers under FOB destination or on consignment are not included in Austin's inventory.
Austin Limited is trying to determine the value of its ending inventory for the year-end on February 28, 2014. The inclusion of items in the inventory is dependent on the risk of loss transfer and the terms of shipping. Here's a breakdown of each transaction:
(a) FOB shipping point: The transaction is included in the customer's inventory as of February 28, because the risk of loss transfers to the customer once the goods are shipped. Austin Limited would not include this in its ending inventory.(b) FOB shipping point: These goods would be included in Austin's ending inventory, because the risk of loss passes to Austin when the goods are shipped. The inventory would be recorded at $480 ($450 + $30 freight).(c) Inventory designated for a customer: This inventory would still be included in Austin's ending inventory because the goods haven't been shipped nor has the risk of loss transferred. They should be valued at $650.(d) Consignment inventory: Goods on consignment should not be included in Austin's inventory. These goods remain the property of the consignor (Ryhn Producers) until sold.(e) FOB destination: These goods would not be included in Austin's ending inventory because they are still in transit and the risk of loss remains with the seller until the goods reach Austin's location.(f) FOB destination: The risk of loss has passed to the customer upon delivery (March 2), so this inventory is not included in Austin's ending inventory as of February 28.Remember, when determining whether an item should be included in ending inventory, it is crucial to consider the terms of shipping and when the risk of loss transfers from seller to buyer.
An ideal prospect for a universal life insurance policy is someone who foresees a possible future need to adjust the amount of the death benefit and/or the premium for the policy. Also, the prospect should understand all of the following key terms of such a policy EXCEPT:_______.1. The policy holder does not control investment in policy and hence no investment risk.2. The cash value accrue based on credited interest that changes annually but subject to a minimum credit rate. 3. The death values may only adjusted up and down at certain times stated in the policy.4. The premium payments are deposited into separate account of the life insurance company.
Answer:
The correct answer is 4
Explanation:
Universal life insurance is the insurance which is an element of the investment savings and the low premiums such as the term life insurance. These policies have a option of the flexible premium and however, some of the policies require fixed premiums or the single premium.
So, the ideal prospect of the policy states that the premium payments are deposited into the General account of the life insurance company not in the separate account. These policy control the investment not the policyholders.
As the CEO of a start-up recycling company, you are interested in benchmarking industry leaders. Recology CleanScapes uses open-book management. Which of the following would you expect to find in an analysis of Recology CleanScapes?
A. Employees believe that being more efficient benefits both the company and themselves.
B. Employees understand how their job performance impacts company results.
C. Employees are dissatisfied because being asked to understand company financials is an unreasonable burden.
D. All are correct.
Answer:
A. Employees believe that being more efficient benefits both the company and themselves.
B. Employees understand how their job performance impacts company results.
Explanation:
As the CEO of a start-up recycling company, you are interested in bench-marking industry leaders. Recology CleanScapes uses open-book management. You can expect to find option A and B in the analysis of Recology CleanScapes. Open book management is one of the best management approaches where workers are shown the organization's financial information so they can make better decisions. In open book management, employees believe that being more efficient benefits both the company and themselves. Employees also understand how their job performance impacts company performance, productivity and results. They will not be dissatisfied and are not going to take understanding of the company's financial facts and figures as an unreasonable burden. They will be more satisfied, productive and loyal employees in the longer run.
Richard, an engineer, supervises the construction of a new mountainside roadway. When the road collapses in a landslide due to faulty grading, Richard is sued by motorists and hikers injured in the collapse. As a professional, Richard is held to the same standard of care as:_______.a. ordinary persons.
b. other engineers.
c. other professionals, including doctors, dentists, and lawyers.
d. those injured in the collapse of the bridge.
Answer: Other Engineers.
Explanation:
In the event of a bridge collapse the engineer that supervised the project would be held responsible because he/she was unable to avoid all possible factors that could have led to the bridge collapse, as is required in the engineering profession. Therefore, when supervising a construction job the engineer in charge has to ensure that all possible factors that can lead to structure failure is eliminated.
George offers to sell his car to Suzy for $10,000 on the coming Sunday, to which Suzy agrees. They write down the details on a paper. On the decided day, Suzy pays the cash to George, but he refuses to sell the car to her saying that his friend Marty has offered to pay $30,000 for the same car. On the basis of which doctrine can Suzy sue George?
a. Quasi-contract
b. Implied contract
c. Partially executed contract
d. Both (a) and (b).
e. Promissory estoppel
Answer:
Promissory estoppel
Explanation:
Promissory estoppel means that in legal tenet that a promise or pledge can be enforced by law, actually if formulated without legal consideration, if the George now the (promisor) has made a pledge to a Susy the (promises) who then depends on that promise for a subsequent detriment. So what Promissory estoppel is expected to do is to stop the (George) promisor from insisting that an underlying promise should not be legally authorized or implemented. So Susy can sue George on the basis of promissory estoppel and get a reward for George's disappointment