Answer:
1/7,200 or 0.01389%
Explanation:
since you have to choose three numbers and one superball to win the lottery, your chances will be:
chances of getting the 3 white numbers = 1/10 x 1/9 x 1/8 = 1/720
chance of getting the superball = 1/10
chances of winning the jackpot = 1/720 x 1/10 = 1/7,200 = 0.01389%
Answer:
0.00083
Explanation:
Number of white balls = 10
Number of white balls drawn = 3
Number of red superbowl = 10
Number of red superbowl drawn = 1.
Probability of drawing first white ball = 3/10
Probability of drawing second white ball = 2/9
Probability of drawing third white ball = 1/8
Probability of drawing red superbowl = 1/10
To win the jackpot, we have:
[tex] \frac{3}{10} * \frac{2}{9} * \frac{1}{8} * \frac{1}{10} [/tex]
= 0.00083
You have the choice between two investments that have the same maturity and the same nominal return. Investment X pays simple interest, Investment Y pays compounded interest. Which one should you choose?
Answer:
Investment Y
Explanation:
Investment Y pays compound interest, which earns interest compared to simple interest over time. In compound interest, the interest earned in the period is added to the principal, thereby increasing the principal amount for in the next period. It means that the interest earned also earns interest.
Compound interest increases the principal amount at the beginning of every period. As a result, the interest earned will be higher every year. Investment X earns simple interest. In simple interest, the principal amount remains is constant throughout the investment period. The interest in simple is constants throughout the period. Compound interest has higher returns compared to simple interest.
"If domestic fuel prices rise to $5 per gallon, growth will slow significantly and our quality of life will decline." This philosophy is consistent with ________ economics.
Answer:
neoclassical
Explanation:
Neoclassical economics was first proposed by David Ricardo and later continued by Adam Smith. it focuses on the determination of output and income distribution through supply and demand. The eternal problem with neoclassical economists is that they assume what should happen, but they do not consider the human factor in the economy. E.g. both wages and prices are sticky, but neoclassical economists argue that they shouldn't be that way in order to increase efficiency, but they cannot change the real world. Their expectations about how efficiency can be achieved are always unrealistic and could apply on an ideal world, but our world is full of problems and defects, so the ideal scenario is never real.
In this case, an increase in the price of gas will hurt the economy, but consumers aren't dumb, raising gas prices resulted in consumers buying more efficient vehicles.
Manufacturing reports the following data for the month: Purchases of raw materials, on account $55,250 Materials requisitions: Direct materials 49,750 Indirect materials 3,700 Labor incurred (not yet paid): Direct labor 51,000 Indirect labor 2,500 Journalize the entries relating to materials and labor. Omit explanations.
Answer:
Journal 1
Direct Materials $49750 (Debit), Indirect Materials $3700,(Debit) Direct labor $ 51000 (Debit), Indirect labor $ 2500 ( Debit), Manufacturing Overhead Account $106960 (Credit)
Journal 2
Manufacturing Overhead Account $106960 (Debit), Accounts Payable $106960
Explanation:
Journal 1
Materials and Labor (both direct and indirect) resource acquired shows an accumulation of resources needed for manufacturing process.
Therefore these resources are being recorded in their respective accounts and transferred to manufacturing overhead account.
Journal 2
Both materials and Labor acquired for manufacturing process are still owing.The journal represent a present obligations in settlement of the Manufacturing overhead (Both for Materials and Labor)
_________________ is the process of making informal connections with mutually beneficial business contacts. A. Networking B. Interviewing C. Intermingling D. Interacting E. Connecting
Answer:
A) Networking
Explanation:
Networking is an activity that involves creating business relationships with other business people that will help you identify opportunities for establishing partnerships or joint ventures, or recognizing the opportunity of new markets. It is basically social networking on a business level that can help your business grow.
The supply curve for a good will be more elastic if: spending on the good accounts for a large share of a consumer's income. there is very little time for producers to respond to a price change. production inputs are readily available at a relatively low cost. the good is a luxury item.
The supply curve for a good will be more elastic if "production inputs are readily available at a relatively low cost".
Option: C
Explanation:
The graphical interpretation is applied to understand the concept of supply curve for any good available in market. This is done by correlating the cost of a good or service and the supplied amount during a given period. In such representation the cost is mentioned vertically on the left axis, while the amount supplied is mentioned horizontally.
The coverage of responsiveness with respect to variations in cost of demand or supply products is understood as elasticity. Here when the small variations in cost leads to the large variations in consumed amount of product, thus curve become more elastic. While if a curve is found less elastic, which showcase that their is large variations in the price to impact a change in consumed amount.
A book was on sale for 40\@@, percent off its original price. If the sale price of the book was \$18.00$18.00dollar sign, 18, point, 00, what was the original price of the book
The original price of the book was $30.00.
Explanation:In this problem, we are given the sale price of the book and the percentage discount, and we are asked to calculate the original price of the book. Let's denote the original price as X. The book was on sale for 40% off its original price, which means 60% of the original price equals to the sale price, $18.00. So, we can set these in the equation as 0.60*X = $18.00. Now we just need to solve this equation for X to find the original price. We will divide both sides of the equation by 0.60. So, X = $18.00 / 0.60 = $30.00.
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A corporation has issued 50,000,000 shares of common stock at $2 par. The corporation has 10,000,000 shares of Treasury Stock on its books. The aggregate value of the outstanding shares is:
A. $20,000,000
B. $40,000,000
C. $80,000,000
D. $100,000,000
Answer:
C. $80,000,000
Explanation:
The issued shares are those which are held by the shareholder of the company and Treasury shares and those share which are bought back by the company. So it is not reported in the outstanding shares. Outstanding share are the net of issued share and Treasury share.
Issued Share = 50,000,000 shares
Treasury shares = 10,000,000 shares
Outstanding shares = 50,000,000 - 10,000,000 = 40,000,000
Stock par value = $2
Value of outstanding shares = 40,000,000 shares x $2 = $80,000,000
Final answer:
The aggregate value of the outstanding shares is calculated by multiplying the number of outstanding shares (40 million) by the par value ($2), resulting in an aggregate value of $80,000,000.
Explanation:
The question asks for the aggregate value of the outstanding shares of a corporation that issued 50,000,000 shares of common stock at $2 par with 10,000,000 shares held as Treasury Stock. To calculate the aggregate value of the outstanding shares, we must first deduct the Treasury Stock from the total issued shares which gives us 40,000,000 shares outstanding (50,000,000 total shares - 10,000,000 Treasury Stock). Since each share has a $2 par value, we multiply the number of outstanding shares by the par value to get the aggregate value: 40,000,000 shares imes $2 = $80,000,000. Therefore, the correct answer is C. $80,000,000.
Record the issuance of 3,100 shares of $20 par value common stock for $50,000 of inventory, $155,000 of machinery, and acceptance of a $100,000 note payable.
Answer:
Dr Merchandise inventory 50,000
Dr Machinery 155,000
Dr Notes receivable 100,000
Cr Common stock 62,000
Cr Additional paid in capital in excess of par value 243,000
Explanation:
All outstanding stocks must be recorded at par value: 3,100 shares x $20 = $62,000. Any mount paid for the stocks in excess of par value must be recorded in the additional paid in capital in excess of par value account : $305,000 - $62,000 = $243,000
A mortgage note payable with a fixed interest rate requires the borrower to make installment payments over the term of the loan. Each installment payment includes interest on the unpaid balance of the loan and a payment on the principal. With each installment payment, indicate the effect on the portion allocated to interest expense and the portion allocated to principal.
Answer:
With each installment payment i'd say that Portion Allocated to Interest decreases while Portion Allocated to principal Increases
Explanation:
FacilitationBrendon Inc. required a permit to open its business in the country of Cadmia. Although it had met all the requirements for the permit, the officials concerned delayed providing Brendon Inc. with the permit. To expedite the process, the company made a payment to a customs official. Which of the following types of payments is this an example of?
The correct question should be:
Brendon Inc. required a permit to open its business in the country of Cadmia. Although it had met all the requirements for the permit, the officials concerned delayed providing Brendon Inc. with the permit. To expedite the process, the company made a payment to a customs official. Which type
of payment is this an example of?
Answer: Facilitation
Explanation:
Brendon Inc payment to the custom official in order to speed up the process for them to obtain a permit, is a form of facilitation payment. A facilitation payment is a kind payment made to speed up a process that would otherwise have taken a longer time.
Answer:
This is a bribe, and it is prohibited by the Foreign Corrupt Practices Act (FCPA) of 1977 .
Bribery is defined as giving money or some other type of consideration to a public official in exchange for benefits received by your business.
FCPA strictly prohibits any type of bribes given to foreign officials in exchange for small favors like this one or any other type of business advantage.
Even after the US Environmental Protection Agency discovered that 482,000 VW diesel cars on American roads were emitting up to 40 times more toxic fumes than permitted, VW executives continued to deny that VW installed software designed to cheat on emissions tests.T/F
Answer:
This statement is false
Explanation:
VW executives did not deny that VW installed software designed to cheat on emissions tests. The American boss of VW, Michael Horn, said “We've totally screwed up”.
The statement is true; Volkswagen executives did indeed deny the use of a 'defeat device' to cheat on emissions tests, despite the EPA's findings. This was part of the larger 'Dieselgate' scandal where the deceit not only involved emission standards but also false advertising about the vehicle's environmental impact.
The statement that VW executives continued to deny that VW installed software designed to cheat on emissions tests even after the US Environmental Protection Agency discovered that 482,000 VW diesel cars were emitting up to 40 times more toxic fumes than permitted is true.
The Volkswagen emissions scandal, widely known as 'Dieselgate', was brought to light in 2015, revealing that Volkswagen had used a "defeat device" in many of its diesel cars since 2009 to cheat on emissions tests conducted by the Environmental Protection Agency (EPA). This device could detect when tests were being conducted to temporarily reduce toxic emissions during the testing procedures, but in reality, the vehicles emitted far greater levels of pollutants than allowed by law. Furthermore, the repercussions extended beyond just environmental harm; the Federal Trade Commission filed a complaint against Volkswagen for deceptive advertising practices, stating the company made false claims about their cars' low emissions.
A manufacturer of cellular phones has decided that an assembly line is operating satisfactorily if less than 0.05% of the phones produced per day are defective. To check the quality of a day's production, the company decides to randomly sample 50 phones from a day's production to test for defects. Define the population of interest to the manufacturer. A. The 0.05% of the phones that are defective B. The 50 phones sampled and tested C. The 50 results of the random testing D. All the phones produced during the day in question
Answer:
D. All the phones produced during the day in question
Explanation:
Population of interest is the population that conclusions are made for. The population can be objects, people, or measurements.
A sample is drawm from this population and tested for a particular characteristic. The result is now used to draw conclusions about the population of interest.
On this case the population of interest is all the phones produced in a day, the sample is the 50 phones selected for testing.
The characteristic tested is defects less than 0.05%. If the sample shows that defects are less than 0.05% then it is concluded that the population is okay.
Final answer:
The population of interest to the manufacturer is all the phones produced during the day in question, as this is the group they wish to ensure has less than 0.05% defects.
Explanation:
The population of interest to the manufacturer is D. All the phones produced during the day in question. The reason this is the population of interest is that the manufacturer's goal is to ensure that the entire day's production meets the quality standard of having less than 0.05% defective phones. While option B refers to the sample of phones tested, and option C to the results of those tests, neither of these are the actual population the manufacturer is concerned with. Instead, they are tools used to infer the quality of the total production run indicated by option D.
Suppose people are in consumer equilibrium buying 10,000 units of good X at a given price. Then the price of good X falls to $0. It follows that people will buy more of good X and that the marginal utility of the last additional unit they buy will be __________ the __________ of the 10,000th unit.
Answer:
lower than; marginal utility
Explanation:
lower than; marginal utility
It follows that people will buy more of good X and that the marginal utility of the last additional unit they buy will be Lower than the Marginal Utility of the 10,000th unit.
Bridget, the youngest owner of a family-owned restaurant, wants to make sure her company’s culture is embedded in their organization. In a recent tradeshow workshop, she learned that she can do this by having company rites and rituals, continuing to tell stories about company legends, and being a role model to her employe .A. True B. False
Answer: True
Explanation:
organizational culture brings great influence on employee behavior. It impacts motivation, promotes individual learning, affects communication, and improves organizational values, group decision making and solving conflicts. So when Bridget keeps telling stories about the legend, being a good role model and as lo introducing rites and rituals she is definitely affecting the company positively.
Which of the following are consistent with the efficient markets hypothesis? Check all that apply. You should spend several hours a day studying the business section of your local newspaper to determine which stocks to add to your investment portfolio. O Stock markets reflect all available information about the value of stocks O Changes in stock prices are impossible to predict.
Final answer:
The efficient markets hypothesis asserts that stock markets reflect all available information and that stock price changes are unpredictable since they instantly incorporate new information. Therefore, options that align with EMH are that stock markets reflect all available information about stock values and that changes in stock prices are impossible to predict, making daily newspaper analysis for stock selection ineffective.
Explanation:
The question asks which of the following are consistent with the efficient markets hypothesis (EMH). According to the EMH, formulated by Professor Eugene Fama, stock markets reflect all available information about the value of stocks, and thus, changes in stock prices are unpredictable because they immediately incorporate new information. This theory implies that it is impossible to consistently achieve higher returns than the average market return through stock selection or market timing based on publicly available information.
Stock markets reflect all available information about the value of stocks.
Changes in stock prices are impossible to predict.
The concept of spending several hours a day studying the business section of a newspaper to determine which stocks to add to an investment portfolio is inconsistent with the EMH. This is because, under EMH, all publicly available information is already reflected in stock prices, making it futile to attempt to find undervalued stocks through such analysis.
Chancellor's is a high-end men's clothing store that frequently resorts to discount blowouts to get rid of excess merchandise. Which of the following best explains the reason for these sales? A. Overestimating demand B. Ineffective tracking of the inventory C. An increase in the price of raw materials D. A decrease in inventory costs E. Increased competition in the local market
The Overestimating demand best explains the reason for these sales.
Option: A
Explanation:
If your company overestimates demand, more stock will end up than it requires. This may raise the cost of your labor and storage if employees decide to transfer this product to the next warehouse to make room for new inventories. If your company sells perishable items, you may incur yet another damage due to the decay of the product that is unsold.
Thus in such a case, you may also need to sell stock at a bargain which decreases the profit margins and profits of your business. Supply Chain Management (SCM) technology can help to improve the supply chain forecasting and measurement mechanism by synchronizing the supply and demand loop using actual-time information. As a consequence, there is less risk that the product will remain unfinished.
Your company relocated you from the United States to their United Kingdom office in London. You brought your personal computer with you and are in the process of setting it up. Your computer was previously configured to receive 115 VAC, but the electricity in London uses 230 VAC.
Answer:
You can use your computer safely by just toggling the voltage switch on the power supply form 110 volts to 230 volts.
Explanation:
This is a similar issue to what happens with the metric system, the imperial system is used in the US as a cultural thing but it's rarely used anywhere else. The US uses 100 volts because Thomas Edison thought it would be better, while basically everyone else in the world disagrees.
Since most computers are built in China or some other Asian country, they either have an automatic voltage selector or they have a manual switch. In case the power supply uses a manual switch, all you have to do is toggle it to 230 volts.
The LMC Partnership has 3 partners and is concerned about what would happen to their $300,000 business if one of the partners should die. If they consider a buy-sell agreement, then each partner would have to buy a policy in the amount of $__________ on the other partners.
Answer:
$50,000
Explanation:
Since the partnership is valued at $300,000, then each partner's stake = $300,000 / 3 = $100,000
that means that each partner must purchase 2 policies (one for each of the other partners) that covers his/her stake = $100,000 / 2 policies = $50,000 per policy
In a _________, the underwriters agree to make an attempt to sell the IPO for the firm. If the underwriter can get enough investor commitments then the IPO will occur. If sufficient investor interest does not exist the issue may be canceled
Answer:
best efforts
Explanation:
As it name suggests, a best efforts IPO takes place when an underwriter cannot commit completely to a client because the market interest in the firm is not certain. So the underwriter "promises" to make its best effort to carry out a successful IPO, but cannot guarantee it. On the other hand, when the market interest is very large, underwriters themselves purchase the entire IPO through a firm commitment IPO.
A local civic group gave the county government $25,000 cash to be used to pay the utility bills of persons with income below the poverty level. The city should account for the $25,000 contribution in:
a.An investment trust fund.
b.The General Fund.
c.A permanent fund.
d.Private-purpose trust fund.
Answer:
D) Private-purpose trust fund.
Explanation:
In this case, the local government must use private purpose trust funds to account for the money received to help other people that are not part of the local government, in this case poor citizens. This type of trust funds are regulated by state laws and they are generally not included in the government entity's budget.
Which of the following statements (if later established as untrue) would constitute a misrepresentation defense to contract formation? a. "You are going to love this house as we have." b. "The school system here is very fine." c. "This farm's well is adequate for household, ranch, and crop needs." d. "Our buyers are the happiest customers around."
Answer:
c. "This farm's well is adequate for household, ranch, and crop needs."
Explanation:
In common law jurisdictions, a misrepresentation is an untrue or misleading statement of fact made during negotiations by one party to another, which induces the other party to enter into the contract.
Only option C above reflects a statement that can be made during negotiation and would most likely induce the acquiring or renting party to enter the contract because it is a benefit on which the price of the property can be determined and buyers respond to perceived benefits.
Data Accountants, a private employer, handles bookkeeping for small employers. In most circumstances, with exceptions, federal law clearly prohibits Data from subjecting its employees to:___________.1. job skills test2. monitoring of business communication3. drug tests4. lie-detector tests
Answer:
4) lie-detector tests
Explanation:
Employers cannot perform polygraph tests when they are evaluating a job applicant, and they cannot discriminate against a current employee for not taking a polygraph test.
Some states allow private polygraph tests when the employee is accused of some wrongdoing and he/she accepts it. Other states like Rhode Island, Massachusetts, Maryland, New Jersey, Oregon, Delaware and Iowa directly prohibit private polygraph tests for any reason at all.
Assuming that there were no beginning work in process inventory, and the ending work in process inventory is 50% complete with respect to conversion costs, the number of equivalent units of production with respect to conversion costs under the FIFO method would be:________.
Answer: equivalent units will equal to units started and completed plus work in progress at 50% completion level
Explanation:
The number of equivalent units will be units started on completed during the current Period plus 50% of work in progress. There were no work in progress units at the beginning of the period. The current period's production consist of only units started and completed and work in progress at 50% completion level.
Rank physical capital, human capital, technology, and natural resources from most important to least important in influencing modern long-run economic growth of aggregate output per capita.
In terms of influencing modern long-run economic growth of aggregate output per capita, technology tends to have the greatest impact, followed by human capital and physical capital, with natural resources ranking as the least significant.
Explanation:The impact of physical capital, human capital, technology, and natural resources on the modern long-run economic growth of aggregate output per capita varies according to various factors.
However, studies of the U.S. economy typically show that technology is usually the most significant contributor to economic growth. Technological growth represents new ways of doing things and generally sparks industry advances, making its influence on economic growth vital.
Next, growth in human capital and physical capital often explains about half or less than half of the economic growth that occurs. These resources, being crucial to the production and delivery of goods and services, significantly impact the economy's output.
Natural resources, while essential, are typically dependent on the technology, physical capital, and human capital available to exploit them, making them last on this list.
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Martha claims that she has been assigned marginal job roles or light workloads that don't lead to promotion. Which of the following terms accurately explains the type of discrimination she has been subjected to?
A) intimidation
B) sexual harassment
C) exclusion
D) inclusion
E) insult
Answer:
C) exclusion
Explanation:
The group aspect of social exclusion is expressed through socially disadvantaged groups. Certainly, one can also talk about the spatial grouping of factors of social exclusion. It is more or less accepted in the literature that social exclusion begins with marginalization in the labor market, and especially exclusion from the labor market.Assume that the City of Juneau maintains its books and records to facilitate the preparation of its fund financial statements. The city pays its employees bi-weekly on Friday. The fiscal year ended on Wednesday, June 30. Employees had been paid on Friday, June 25. The employees paid from the general fund had earned $90,000 on Monday, Tuesday, and Wednesday (June 28, 29, and 30). What entry, if any, should be made in the city’s general fund on June 30? Debit Expenditures $90,000; credit Accrued wages and salary $90,000 Debit Expenses $90,000; credit Accrued wages and salary $90,000 Debit Expenditures $90,000; credit Encumbrances $90,000 Debit Expenses $90,000; credit Encumbrances $90,000
Answer:
Debit Expenses $90,000; credit Accrued wages and salary $90,000
Explanation:
If we assume that the City of Juneau maintains its books and records to facilitate the preparation of its fund financial statements. The employees paid from the general fund had earned $90,000 on Monday, Tuesday, and Wednesday (June 28, 29, and 30).
The entry, if any, should be made in the city’s general fund on June 30 is to: Debit Expenses $90,000; credit Accrued wages and salary $90,000
The amount has been incurred in the month but has not been paid hence it has to be captured as expenses for the month of June while the double entry will be that the amount is captured as accrued wages signifying that it has not been paid within the period it was incurred
Answer: Debit expenses $90000; credit accrued wages and salaries $90000
Explanation:
Accrued wages and salaries are liabilities unpaid at the end of a financial period in respect of wages and salaries.
The entry for accrued wages and salaries involves a debit to the expense account and a credit to the accrued wages and salaries account. In the case of the financial statements for City of Juneau described above, we can make the entry thus:
Payment of wages is biweekly, and was last paid on Friday June 25.
The year ended June 30, therefore workers have earned wages for Monday, Tuesday and Wednesday amounting to $90000.
So we have to debit expenses with $90000 and credit accrued wages and salaries with $90000.
Because the accrued wages will be paid in the next financial year, the entries will be reversed at the beginning of that year.
On January 2, 2020, Crane Company wishes to issue $6400000 (par value) of its 6%, 10-year bonds. The bonds pay interest annually on January 1. The current yield rate on such bonds is 11%. Using the interest factors below, compute the amount that Crane will realize from the sale (issuance) of the bonds. Present value of 1 at 6% for 10 periods 0.5584 Present value of 1 at 11% for 10 periods 0.3522 Present value of an ordinary annuity at 6% for 10 periods 7.3601 Present value of an ordinary annuity at 11% for 10 periods 5.8892
Answer:
$45,155,328
Explanation:
the bonds will yield $3,840,000 per year during 10 years
and at the end of year 10 (maturity date) the face value is $64,000,000
the present value of the annuity = coupon payment x present value of an ordinary annuity at 11% for 10 periods = $3,840,000 x 5.8892 = $22.614,528
the present value of face value at maturity date = face value x present value of 1 at 11% for 10 periods = $64,000,000 x 0.3522 = $22,540,800
present value of the bonds = $22.614,528 + $22,540,800 = $45,155,328
Accord Company purchased land for $100,000 by making a cash payment of $30,000 and promising to pay the remaining amount in a later accounting period. What is the net effect of this transaction on Accord's accounting equation?
Answer:
Assets and liabilities both will increase by $70,000.
Explanation:
Given data provided
Purchase land = $100,000
Cash payment = $30,000
The computation of net effect is shown below:-
= Purchase land - Cash payment
= $100,000 - $30,000
= $70,000
Therefore, for computing the net effect we simply deduct cash payment from purchase land. So, Assets and liabilities both will increase by $70,000.
Some examples of security measures to safeguard inventory include1. storing inventory in areas that are restricted to only authorized employees.2. locking high-priced inventory in cabinets. 3. using two-way mirrors, cameras, security tags, and guards. 4. All of these choices are correct.
Answer:
Option D All of these choices are correct.
Explanation:
The reason is that the locking the high priced inventory in cabinets, using cameras, two way mirrors, security tags, etc are all security measures because the purpose of such measure is to safeguard the asset. So all the options here are correct.
___________ is a system that assesses an organization's marketing information needs, develops the needed information, and helps decision makers use information to create and validate actionable customer insights
Answer:
Marketing Information Systems (MIS)
Explanation:
These are people and procedures in assesing information needs, developing the information and helping decision makers to generate and validate actionable customer and market insights.
What is Marketing Information System?
Marketing Information System (MIS) is a powerful tool which is used by the management to take timely and effective decisions by using the well structured information and analysis from MIS.
A marketing information system can support decision making at various levels; strategic, control, and operational. Usually a MIS is composed of four key components; internal reporting, marketing research, marketing intelligence, and marketing models.
Why it matters?
MIS converts the raw information into a more understandable form which helps management towards better insights therefore, allowing them to use information to validate actionable customer insights.
A MIS contains marketing data from the customers and from many other sources which helps management to identify marketing patterns and trends and based on these results they can initiate marketing campaigns to tackle the market.