Answer:
The margin of safety is 500 units
Explanation:
Margin of safety is the amount by which sales may fall before a company makes a loss.
It is Calculated as Expected Sales less Break Even Units
Remember : Break-even is the level at which a Company makes neither a profit or a loss
Margin of Safety = 1200 units -700 units
=500 units
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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If QuickStart does not want to make refunds for more than 7% of its batteries under the full-refund guarantee policy, for how long should the company guarantee the batteries (to the nearest month)?
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
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
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.
Belle, a nongovernmental not for profit organization, received funds during its annual campaign that were specifically pledged by the donor to another nongovernmental not for profit health organization. How should Belle record these funds
Answer: First, we will add the options:
A. Increase in assets and increase in liabilities.
B. Increase in assets and increase in revenue.
C. Increase in assets and increase in deferred revenue.
D. Decrease in assets and decrease in fund balance.
Correct option is A.
Explanation: This is because Belle is acting as an intermediary in this scenario, therefore it the donation will initially be recorded as an asset, because it is a plus for the company.
However, we must not forget what the purpose of this donation is for, which is meant to be given to a nongovernmental not for profit health organization.
Therefore be this would also be recorded as a liability because Belle is owing the not for profit health organization.
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
Laura budgets $54 each month for annual expenses. She nets $1820 semimonthly.What percent of her net monthly income does she budget for annual expenses?
Answer:
14.83%
Explanation:
Laura budgets $54 each month for annual expenses. She nets $1820 semimonthly.What percent of her net monthly income does she budget for annual expenses?
$1820 semimonthly = 1820 x 2 monthly = $3,640
Annual expenses budget = $54
Percentage of her net monthly income budgeted for annual expenses = (54 / 3, 640) x 100 = 14.83%
Answer:
What percent of her net monthly income does she budget for annual expenses?
1%
got it right on the test :)
Explanation:
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
Beats Electronics has been able to outperform Audio-Technica, Bose, JBL, Skullcandy, Sennheiser, and Sony in the high-end, premium headphone market. Which of the following statements accurately explains one of the main reasons for the success of Beat? A. It produced the highest-quality headphones.B.It created a perception that owning its products was cool.C. It emphasized marketing over core competency.D. It focused on sponsoring future athletic superstars.
The main reason for the success of the Beats Electronics is: B. it created a perception that owning its products was cool.
Explanation:
Beats Electronics was able to outperform in the premium headphone market. They were able to out-stand from their competitive companies like JBL, Bose, Audio-Technica, Skullcandy and Sennheiser.
Beats Electronics made their customers to believe that owning their product is cool. They created a perception to the customers which made them to lead in the market.
Perception refers to the way the information is conveyed to others. Beat Electronics followed this strategy and made their customers to feel that owning their product is cool.
The main reason for Beats Electronics' success is its effective marketing strategy that created a desired image and positioned its headphones as a status symbol, rather than simply producing the highest quality product.
Explanation:The success of Beats Electronics in outselling other premium headphone brands like Audio-Technica, Bose, JBL, Skullcandy, Sennheiser, and Sony can be attributed to a variety of factors. One of the main reasons, however, is not necessarily the production of the highest quality headphones but rather the successful branding strategy that Beats implemented. Beats created a perception that owning its products was cool and desirable, a strategy very effective among its target market.
Part of their strategy was a broad and well-executed marketing plan that portrayed the headphones as a status symbol among celebrities and music enthusiasts. Furthermore, the company strategically used product placements and celebrity endorsements to enhance its brand value. This type of marketing makes consumers associate the headphones with a certain lifestyle and image, which can significantly drive sales.
Although Beats did sponsor athletes, which contributed to its visibility, it is the overall marketing approach and the cultural appeal the brand managed to achieve that is often singled out as a critical factor for their success.
An investigator locates the scene that should be observed, anticipates the action that is most likely to occur at the scene, and keeps detailed notes on all activities involving the suspect. Which type of surveillance is being used here? a. Stationary surveillance b. Static surveillance c. Moving surveillance d. Electronic surveillance
Answer:
Stationary surveillance
Explanation:
Where a crime has been committed and there is a need for an investigation, the investigator will locate the crime scene and observe the scene for proper recordings. Stationary surveillance is usually installed around in the form of a hidden camera for the investigator to be able to know what happened or occurred at the scene. So where a crime has been committed, the investigator will proceed to the crime scene and retrieve the installed stationary surveillance in form of a camera that must have been hidden somewhere around the crime scene to get a piece of detailed information about the suspect and everything needed for the investigation.This stationary surveillance records images and videos of people, suspects and activities around the crime scene and the investigator will be able to know the activities that occur when he was not there.
In addition to the following closing costs listed below, the buyer pays a realtor commission that is 3.5% of the loan amount. Closing Cost Charge Loan origination $280 Title insurance $476 Attorney’s fees $675 Inspection $200 Recording fees $118 Escrow $573 If the loan amount is $165,000, how much was paid at closing?
Answer:
d.
$8,097
Explanation:
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
. Singh Co. reports a contribution margin of $717,000 and fixed costs of $478,000. (1) Compute the company’s degree of operating leverage. (2) If sales increase by 20%, what amount of income will Singh Co. expect?
Answer:
1. 3
2. $382,400
Explanation:
The computation is shown below:
The computation of the degree of operating leverage is shown below:
= (Contribution margin) ÷ (Contribution margin - Fixed costs)
= ($717,000) ÷ ($717,000 - $478,000)
= $717,000 ÷ $239,000
= 3
Now the increase in percentage of income
= 20% × 3
= 60%
So, the expected of income is
= $239,000 × 100 + 60%
= $239,000 × 160%
= $382,400
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.
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.
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.
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.
Delivery costs at Hernandez, Inc. appear below for specific months of operations: Month Amount Units Produced March $20,000 16,000 April $18,000 12,000 Which type of cost are delivery costs at Hernandez?1. Mixed2. Variable3. Fixed
The delivery costs at Hernandez, Inc. vary between the months of March and April, reflecting a potential change with production levels. However, due to the limited data, it cannot be definitively concluded whether the costs are fixed, variable, or mixed. More information on how the costs behave at different production levels is necessary to determine the type of cost.
To determine what type of cost delivery costs at Hernandez, Inc. are, we can examine the data provided for the months of March and April. In March, the delivery costs were $20,000 for 16,000 units produced, and in April, the delivery costs were $18,000 for 12,000 units produced. By analyzing the costs, we can see if the costs vary with the production levels or if they remain constant regardless of the production volume.
Fixed costs remain constant regardless of the level of production or sales volume. By contrast, variable costs change in direct proportion to changes in production or sales volume. Mixed costs have both fixed and variable components.
In the case of Hernandez, Inc., as production decreases from 16,000 units to 12,000 units, the delivery costs also decrease but not in direct proportion, which may suggest that the delivery costs are not purely variable. However, without more information about how delivery costs behave at other levels of production, it is difficult to categorize them solely as fixed or variable. They could potentially be mixed costs, but the provided data points do not give enough information to conclude definitively which type they are.
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
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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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
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.
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
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
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.
What is the expected value when a $1 lottery ticket is bought in which the purchaser wins exactly $10 million if the ticket contains the six winning numbers chosen from the set {1, 2, 3,…, 50} and the purchaser wins nothing otherwise?
We expect to lose $0.37 per lottery ticket
Explanation:
six winning numbers from = { 1, 2, 3, ....., 50}
So, the probability of winning:
[tex]P(win) = \frac{ no of favorable outcomes}{no of possible outcomes}[/tex]
[tex]P(win) = \frac{1}{^5^0C_6} \\\\P (win) = \frac{6! X (50 - 6)!}{50!} \\\\P(win) = \frac{6! X 44!}{50!} \\\\P(win) = \frac{1}{15,890,700}[/tex]
The probability of losing would be:
P(loss) = 1 - P(win)
[tex]P(loss) = 1 - \frac{1}{15,890,700} \\\\P(loss) = \frac{15,890,699}{15,890,700}[/tex]
According to the question,
When we win, then we gain $10 million and lose the cost of the lottery ticket.
So,
$10,000,000 - 1 = $9,999,999
When we lose, then we lose the cost of the lottery ticket = $1
The expected value is the sum of the product of each possibility x with its probability P(x):
E(x) = ∑ xP(x)
[tex]= 9,999,999 X \frac{1}{15,890,700} + ( -1 ) X \frac{15,890,699}{15,890,700} \\\\=- \frac{5,890,700}{15,890,700} \\\\= - \frac{58,907}{158,907} \\\\= - 0.37[/tex]
Thus, we expect to lose $0.37 per lottery ticket
The expected value when buying a $1 lottery ticket that offers a $10 million prize if the ticket contains the six winning numbers chosen from the set {1, 2, 3,..., 50} and nothing otherwise is $0.63.
Explanation:The expected value when buying a $1 lottery ticket that offers a $10 million prize if the ticket contains the six winning numbers chosen from the set {1, 2, 3,..., 50} and nothing otherwise can be calculated.
To find the expected value, we multiply the probability of winning ($10 million) by the probability of losing (zero). Since there is only one winning combination out of a total of 50 choose 6 combinations, the probability of winning is 1/15,890,700. The probability of losing is 1 - 1/15,890,700 = 15,890,699/15,890,700. Therefore, the expected value can be calculated as:Expected Value = ($10 million) * (1/15,890,700) + (0) * (15,890,699/15,890,700)
Simplifying this expression gives:Expected Value = $0.63
Therefore, the expected value when buying this $1 lottery ticket is $0.63.
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.
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.
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
Bobby is speaking to his friend and says, "this musical is going to cost me $60 when I buy the ticket." His friend corrects him and says, "actually, this concert will cost you more than $60 since you have to miss work." His friend is referring to the _________________.
Full question:
Bobby is speaking to his friend and says, "this musical is going to cost me $60 when I buy the ticket." His friend corrects him and says, "actually, this concert will cost you more than $60 since you have to miss work." His friend is referring to the _________________.
Select the correct answer below:
a)economies of scale
b)budget constraint
c)opportunity cost
d)opportunity set
Answer:
His friend is referring to the opportunity cost
Explanation:
Opportunity costs describe the gains a person, investor or company drops out on when picking one choice over another. The cost of practicing something is previously the cost of the highest-valued alternative use. Bottlenecks are frequently a condition of opportunity costs.
The method for determining an opportunity cost is solely the contrast within the expected returns of any option. Estimating opportunity costs can lead you to more effective decision-making. Opportunity cost examination also performs a crucial role in preparing a business's capital structure.
Final answer:
Bobby's friend is alluding to the 'opportunity cost,' which includes the explicit cost of $60 for the ticket and the implicit cost of the income foregone by not attending work. It represents the true economic cost of Bobby's decision to attend the musical instead of working.
Explanation:
Bobby's friend is referring to the concept of opportunity cost. Opportunity cost is the value of the next best alternative that one gives up when making a decision. In this scenario, the opportunity cost for Bobby attending the musical includes not only the price of the ticket but also the money he would have earned had he gone to work instead.
For example, if Bobby earns $100 by working for a day and he decides to take a day off to attend a musical which costs him $60, the total cost of attending the musical is actually $160 ($60 for the ticket plus the $100 he foregoes from not working). Therefore, while the explicit cost is $60, the opportunity cost (which includes both explicit and implicit costs) is significantly higher.
This concept is essential in both personal finance and business decisions as it helps individuals and companies assess the true cost of their choices, enabling them to make more informed decisions on how to allocate their resources most efficiently.