Answer:
Wilbur cannot rescind the contract based on his unilateral mistake.
Explanation:
Lets suppose that I made an offer of $1000 which you accepted to buy my car on a phone call for $1000 and later in the same day a person offered me more money for the same car and I sold the car to him. You went to court and I said that I mistakenly made an offer of $1000 which means that every person who revoke the clauses will make lame excuses in the court. If this act is permitted then the law gives the people free hand whatever they desire to do with the contract. So for this reason this act was considered unethical and the court said that the mistakes that are unilateral are not be rescind.
Jeff and Rob have a difficult time getting along at work. Most days, Jeff spends a lot of time cracking jokes and goofing off, while Rob constantly nags him and tells him to act like a grown up. On days when Jeff is more reserved, Rob does not nag him, hoping that this will result in improved behavior down the road. This is an example of which form of behavior modification?A. Empowerment.B. Extinction.C. Punishment.D. Avoidance learning.E. Positive reinforcement.
Answer:
D.
Explanation:
In this scenario when Rob stops nagging Jeff he is implementing the behavior modification known as avoidance learning. This technique theorizes that and individual tends to remove themselves from a scenario in order to avoid certain bad or stress inducing situation. Which Rob does in order to avoid having to deal with Jeff being cracking jokes and goofing off later.
The example of behavior modification that us exhibited by Jeff, by been more reserved is D:Avoidance learning.
Avoidance learning behavior serves as behavior modification which involves process whereby someone avoid a situation where by he can be induced with bad behavior.Jeff became more reserve because he doesn't want to be induced by behaviors of Rob.
Therefore, option D is correct.
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Mary names her husband, Rick, as primary beneficiary of her life insurance policy and her two children, Pam and Matt, as contingent beneficiaries. Rick dies in March. Pam and Matt are killed simultaneously in a car accident later that month. Hearing the news, Mary has a fatal heart attack. In this case, Mary's life insurance proceeds will be paid:(A) 1/2 to Rick's estate and 1/4 each to Pam and Matt's estates(B) to Rick's estate(C) to Mary's estate(D) in equal shares to Rick, Pam, and Matt's estates
Answer:
(C) to Mary's estate
Explanation:
Based on the information provided within the question it can be said that in this scenario Mary's life insurance proceeds will be paid to Mary's estate. This is because all of Mary's beneficiaries have passed away. Therefore the life insurance is paid to her estate since she is the owner of the life insurance policy.
A zero-coupon bond has a yield to maturity of 11% and a par value of $1,000. If the bond matures in 27 years, the bond should sell for a price of _______ today.
Answer:
The bond should sell for a price of $59.74 today.
Explanation:
Zero Coupon Bond is a bond which does not offer any interest payment but it is issued at deep discount amount from the face value of the bond.
Price of Zero Coupon Bond = [tex]\frac{F}{( 1 + r )^t}[/tex]
F = Face / Par Value of Bond = $1,000
r = rate of interest = 11%
n = number of years = 27 years
Price of Bond = [tex]\frac{1000}{( 1 + 0.11)^27}[/tex]
Price of Bond = $59.74
As Zero coupon bond does not offer any discount so, it is valued much below the par value.
Final answer:
The zero-coupon bond with a yield to maturity of 11% and a par value of $1,000 that matures in 27 years should sell for approximately $118.37 today.
Explanation:
To find the price of a zero-coupon bond that has a yield to maturity of 11% and matures in 27 years, we need to calculate the present value of the bond's par value, which we assume will be repaid at the end of 27 years. Since this is a zero-coupon bond, it pays no interest until maturity, at which point the par value is repaid. The present value can be calculated by using the formula PV = FV / (1 + r)^n, where PV is the present value, FV is the future value (or par value), r is the yield to maturity (expressed as a decimal), and n is the number of years until maturity.
Using this formula, we have:
PV = 1000 / (1 + 0.11)^27
After calculating this, we get:
PV = 1000 / (1 + 0.11)^27 = 1000 / (1.11)^27 \<\/\= 1000 / (8.4457) \<\/\= approximately $118.37
Therefore, the bond should sell for around $118.37 today.
Harris Brown, the marketing manager at a small retail chain, wants to assess his firm's strengths, opportunities, weaknesses, and threats. Which of the following would be best suited for his purpose
Answer:
SWOT analysis.
Explanation:
SWOT analysis is also called the SWOT matrix and is strategic planning used by organisations to identify strengths weaknesses, opportunity, and threats while carrying out business in a competitive environment.
SWOT analysis is designed in such a way that it is most effective at the preliminary stage of planning a business strategy.
It is primarily used to set organisation objectives and to identify internal and external factors that will influence the set objectives.
Final answer:
Harris Brown should perform a SWOT analysis to identify the most critical factors affecting his firm's future success. Addressing each element, whether it is a strength, weakness, opportunity, or threat, will provide direction for strategic decisions to enhance the firm's market position.
Explanation:
Harris Brown, the marketing manager at a small retail chain, is looking to conduct a SWOT analysis to assess his firm's strengths, opportunities, weaknesses, and threats. This analysis will help him identify the most critical factors that could impact his firm's success. For instance, if we identify financial security as a threat due to global economic factors, the firm would need to focus on reducing external threats by cutting costs and leveraging brand strength. However, should the firm have a strong software system, they might consider investing in that strength to outdo competitors or if a weakness is identified such as an inefficient production process, then streamlining it could lead to significant cost savings and better market competitiveness. Every part of the SWOT analysis provides insights into where the firm stands and where it could potentially go.
When conducting a SWOT analysis, it would be pertinent for a company to compare the likelihood of success when choosing to focus on a strength such as improving existing software, against addressing a weakness, like streamlining a production process. It often involves looking at the internal capabilities and the external environment to determine the best strategic direction for the firm. Making such comparisons and decisions is essential for ensuring the company's future success.
business ethics chapter 7 emily, a website designer, is hired by an organization to create an internal website that contains information meant to be accessed solely by employees. This website is the company's ____.
Answer:
The correct answer is Intranet.
Explanation:
An Intranet is a digital platform whose objective is to assist workers in generating value for the company, making available assets such as content, files, business processes and tools; facilitating collaboration and communication between people and teams.
The internal website that Emily is hired to create is the company's internal communication platform or intranet. This can also feature their code of ethics, promoting business ethics within the organization.
Explanation:In the given scenario, Emily, a website designer, was hired to create an internal website for a company. This internal website that is meant to be accessed solely by employees serves as the company's internal communication platform or intranet.
Businesses often use intranets to store important information in a central place where employees can access it. The site can include various sections such as company policies, news, updates, schedules, and more. The site could also house the company's code of ethics, which governs what actions are permissible within the organization.
Considering the aspects of business ethics, organizations use these internal platforms to ensure that their operations and members align with the set laws and regulations, as well as the company's values.
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You can spend $10 for lunch and you would like to purchase two cheeseburgers. When you get to the restaurant, you find out the price for cheeseburger has increased from $5 to $6, so you decide to purchase just one cheeseburger. This is best described as:
Α. the substitution effect of a price change
B. the income effect of a price change
C. a decrease in the buyer's reservation price.
D. an increase in the buyer's reservation price.
Answer: income effect of a price change.
Explanation: The income effect is known as the effect on real income when price changes, it can however be positive or negative. The income effect expresses the impact of increased purchasing power on consumption.
In this scenario, spending $10 for lunch, and you would like to purchase two cheeseburgers. When you get to the restaurant, you find out the price for cheeseburger has increased from $5 to $6, so you decide to purchase just one cheeseburger, this scenario best illustrates the income effect of a price change.
The decrease in consumption due to the rise in the price of cheeseburgers represents the income effect of a price change. This is a result of reduced purchasing power caused by the price increase.
Explanation:In this scenario, your decision to purchase only one cheeseburger due to the increase in price is best described as B. the income effect of a price change. This is because the income effect describes the change in consumption resulting from a change in real income. In this case, an increase in the price of the cheeseburger effectively reduces your buying power for this particular meal, thus diminishing your consumption from two cheeseburgers to one.
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Suppose the price of university sweatshirts increases from $10 to $20 and the quantity supplied increases from 20 to 30. The price elasticity of supply, using the midpoint formula, is:______.A) 0.66. B) 1.50. C) 0.60. D) 1.66.
Answer:
C) 0.60.
Explanation:
USING MIDPOINT FORMULA
i) Percentage change in quantity supplied
=changes in QS/(changes in QS/2) x 100/1
=(30-20)/(30+20)/2 X 100/1
=10/25 X 100
=40%
ii) Percentage changes in price
=Changes in Price/(Changes in Price/2) x 100/1
=($20-$10)/($20+$10)/2 x 100/1
=$10/$15 x 100/1
=0.66667 x 100
=66.67%
Price Elasticity of supply = %Changes in Quantity supplied
%Changes in Price
ES= 40%/66.67%
ES= 0.59999
ES=0.6
For each of the following examples, indicate whether the transaction would be included in the gross investment component of GDP, and if so, indicate which category it would be included. a. When Leandro pays a general contractor to build a new house, it would: not be included in gross investment. be included in GDP as a net export. be included in gross investment as residential fixed investment. be included in gross investment as business fixed investment. be included in gross investment as inventories. b. The purchase of a new building by Whole Foods would: be included in gross investment as residential fixed investment. not be included in gross investment. be included in GDP as a net export. be included in gross investment as business fixed investment. be included in gross investment as inventories. c. When Sarah buys a new computer for her kids, it would: be included in GDP as a net export. be included in gross investment as residential fixed investment. be included in gross investment as inventories. not be included in gross investment. be included in gross investment as business fixed investment.
In GDP calculations, the payments by Leandro for a new house and Whole Foods for a new building would be included in gross investment as residential fixed investment and business fixed investment respectively. However, Sarah's purchase of a new laptop for her children wouldn't be considered an investment, but rather as consumer spending.
Explanation:In calculating GDP, the Gross Domestic Product, by means of expenditure method, it primarily consists of Consumer spending (C), Investment (I), Government spending (G), and Net exports (NX). The term 'Gross investment' often appears, representing all investments made by business/consumers within a given period.
a. When Leandro hires a contractor to construct a new house, it will be included in gross investment as a residential fixed investment. This is so because expenses on new housing by consumers account as private residential investment.
b. Whole Foods' acquisition of a new building would also be included in gross investment, but it falls under the category of business fixed investment. This counts as an investment in constructions by firms/businesses.
c. Finally, when Sarah gets a new computer for her kids, it would not fall under the category of gross investment. It is rather included under consumer spending.
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Transaction a is included in gross investment as residential fixed investment. Transaction b is included in gross investment as business fixed investment. For each transaction transaction c is a consumption, not an investment, thus doesn't come under gross investment.
Explanation:For each transaction given:
c. When Sarah buys a new computer for her kids, it would be included in gross investment as business fixed investment.b. The purchase of a new building by Whole Foods would be included in gross investment as business fixed investment.When Sarah buys a new computer for her kids, it would be included in gross investment as business fixed investment.
c. When Sarah buys a new computer for her kids, it would be included in gross investment as business fixed investment.
Gross Domestic Product (GDP) counts final sales of goods and services, but includes investments (both residential and business) as these production activities contribute to the creation of goods and services within a country.
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Jack gratuated from college last month, but he has not yet started looking for a job. Jack is:__________.1. Frictionally unemployed.2. Structurally unemployed.3. A discouraged worker and is part of the unemployment statistic. 4. Not part of the labor force and is not counted in the unemployment rate.
Answer:4. Not part of the labor force and is not counted in the unemployment rate.
Explanation:Not everyone who is out of work is unemployed. In order to be counted as unemployed you have to be out of work, looking for work, and able to accept a job if one is offered to you. If you are out of work and not looking, then you are considered “not in the labor force” rather than unemployed.
Someone who does not have a job but claims he is not looking for one is considered out of the labor force and is not counted in the unemployment rate.
Under LIFO, net income exists if revenues are sufficient to cover the __________ cost of the units of inventory sold, provided new units are acquired before the end of the accounting period.
Answer:
total
Explanation:
Remember, a LIFO method of accounting for inventory differs in that it records the most recently produced items as sold first; meaning Last in, First Out. Thus leading to recording the lowest cost of older products in the inventory.
A case of lower Net income (income after deductions of cost) thus exists if revenues are sufficient to cover the total cost of the units of inventory sold which reduces taxes.
The _________, also known as the "grapevine," allows employees to speak directly and not chance the message being altered as it moves though the formal communication network
Answer:
Informal communication network
Explanation:
Grapevine within an organisation can lead to various problems, such as confusions and lack of communication. Grapevine are the rumours which are usually circulated by individuals, it can be stopped by proper communication with the employees. Another name of the grapevine is informal communication which allows employees to speak directly without proper channels of the formal communication network.
When Colgate encourages its current customers to brush more often by taking their toothbrush and toothpaste to work with them, which market opportunity is Colgate pursuing?
Colgate is pursuing market penetration by encouraging customers to brush more often by taking their toothbrush and toothpaste to work.
Colgate is pursuing the market opportunity of increasing customer usage frequency by encouraging them to take their toothbrush and toothpaste to work ,, which falls under market penetration strategy.
g A bank loaned out $17,000, part of it at the rate of 7% per year and the rest at 15% per year. If the interest received in one year totaled $2,000, how much was loaned at 7%
Answer:
Amount of Loan @ 7% was $6,875
Explanation:
Let
Amount of Loan @ 7% = X
Amount of Loan @ 15% = Y
According to given condition
X + Y = 17000 ( Eq 01 )
X7% + Y15% = 2000
0.07X + 0.15Y = 2000 ( Eq 02 )
By multiplying ( Eq 01 ) with 3
3X + 3Y = 51,000 ( Eq 03 )
By multiplying ( Eq 02 ) with 20
1.4X + 3Y = 40000 ( Eq 04 )
By subtracting ( Eq 04 ) from ( Eq 03 )
3X + 3Y - (1.4X + 3Y) = 51,000 - 40,000
3X + 3Y - 1.4X - 3Y = 11,000
1.6X= 11,000
X = 11,000 / 1.6
X = 6,875
Placing Value of X in ( Eq 01 )
6,875 + Y = 17000
Y = 17000 - 6,875
Y = 10,125
Check:
0.07(6,875) + 0.15(10,125) = 2000
481.25 + 1,518.75 = 2,000
2,000 = 2,000
So
Amount of Loan @ 7% = X = $6,875
Cheese manufacturer Ashe Mountain Corp. started a new chain of movie theaters called Ashe Mountain's Movie World. The theaters have been a major success and significantly increased the revenues of Ashe Mountain Corp. This is an example of:___________________.A. DiversificationB. Market developmentC. Product penetrationD. DifferentiationE. Market penetration
Answer:
A. Diversification
Explanation:
The diversification is a process by which the allocation of the spatial in a way that exposes to many one particular risk and can reduce them and slow down the violated by investing in a variety of assets and thus the cheese manufactured started a new chain of the movie world and led to the significant increase of the revenues.Mary buys a lottery ticket and promises to buy her friend Sharon a new pair of shoes if she checks the lottery results while Mary is away. Sharon agrees to do so, provided she has the time for it. If Sharon fails to check the results and Mary wins the lottery, which of the following would be true of the contract between Mary and Sharon?A. Mary's promise is supported by consideration.
B. Sharon can claim for breach of contract against Mary.
C. Neither Mary nor Sharon can claim breach of contract.
D. Mary can claim for breach of contract against Sharon.
Answer: Neither Mary nor Sharon can claim breach of contract.
Explanation:
The both parties of the contract are not guilty of a breach in contract because of the conditions contained within the contract was not broken. Sharon gave the condition that she would check the lottery ticket if she is chanced, therefore if she doesn't check the ticket she wasn't chanced. Also Mary only promised to buy the shoe for Sharon only when she had checked the ticket, which Sharon failed to do.
A property sold for $80,000 and the buyer obtained an FHA insured loan for $77,000, how much money would the buyer pay in discount points the lender charged three points?
Answer: $2,310
Explanation:Discount points are fees mortgage borrowers can purchase that lowers the amount of interest they have to pay on subsequent payments. Each discount point generally costs 1% of the total loan amount.
From the question, the loan amount is $77,000, discount points are 1% of $77,000 =$770.
Lender charged 3 discount points
= $770 * 3= $2,310
Hilliard Pharmaceuticals and Ahrens Vitamins, Inc., have high market commonality, both geographically and in the market segments in which they compete. Hilliard, the number two firm in the industry, has undertaken a major strategic attack upon Ahrens, the market leader. Which of the following statements is most likely to be TRUE?
a. Ahrens will not respond aggressively since this is a strategic move and not a tactical action.
b. As the market leader, Ahrens has little to fear from an attack by Hilliard and will not expend organizational slack on a major response.
c. Ahrens will respond aggressively because of the high multimarket contact between Hilliard and Ahrens.
d. Ahrens will respond after a long delay as the nutrition supplement industry is a slow-cycle industry.
Answer: C. Ahrens will respond aggressively because of the high multimarket contact between Hilliard and Ahrens.
Explanation:
Ahrens will respond aggressively because of the high multimarket contact between Hilliard and Ahrens.
Ahrens Vitamins and Hilliard Pharmaceuticals have high Market commonality. They operate in the same geographical area and their target market is the same, meaning an increase in Profits for Hilliard Pharmaceuticals is a decrease in profits for Ahrens Vitamins, an attack from Hilliard will ave severe consequences for Ahrens Pharmaceuticals as they compete for the same target market.
Ahrens Vitamins will have to respond aggressively to attacks from Hilliard Pharmaceuticals in order to maintain their position in the market
Activity-based costing accumulates overhead in one cost pool, then:_____.a. assigns the overhead to products and services by means of a cost driver. b. assigns activity cost pools to products and services, then allocates overhead back to the activity cost pools. c. allocates overhead to activity cost pools, and it then assigns the activity cost pools to products and services by means of cost drivers. d. allocates overhead directly to products and services based on activity levels.
Answer:
c. allocates overhead to activity cost pools, and it then assigns the activity cost pools to products and services by means of cost drivers.
Explanation:
The activity based costing is the costing that helps to allocated the indirect cost or we can say the manufacturing overhead cost with the help of the many cost drivers or the many activity cost pools
Like if we allocate the setup cost so we have to allocated with the number of machine setups.
For the inspection cost, the number of inspections is required so that the allocation could be done
It seems that most of the CDs in your town’s last remaining music store are old albums from bands that your parents liked years ago. That may annoy you, but music from these __________ albums keeps the music industry profitable.
Answer: Music from these catalogs keeps the music industry profitable.
Explanation:
The records and CDs that are seen in music stores comes from a catalog of music that each record company keeps. The catalogs are copyrighted to keep the integrity of the artists. If they weren't copyrighted anyone could take the music and use it as their own and record it.
Every genre of music has its own fans. The older generation still buys music from artists from their generation. They keep these in stock because they know people will purchase the music.
You own a high-end restaurant competing for the business of well-heeled diners. Now you're worried, because a gourmet takeout store just opened across the street. The new store will mean increased _____ competition.
Answer: Indirect competition.
Explanation:
The new gourmet store that opened close to my existing business would perform the function of indirect competition, and would actively drag customers with my restaurant business. An indirect competition is a form of business competition in which similar products can be used to meet a need by consumers.
Answer:
Indirect competition.
Explanation:
Indirect competition is the conflict between vendors whose products or services are not the same but that could satisfy the same consumer need.
Like in the question a high-end restaurant competing for the business of well heeled diners and ther comes a gourmet takeout store they arent necessarily doing the same thing but they both can satisfy the same consumer need so this will increase indirect competition
A bond is aa.financial intermediary. b.certificate of indebtedness. c.certificate of partial ownership in an enterprise. d.None of the above is correct.
A bond is a certificate of indebtedness.
Explanation:
A bond is a fixed income asset reflecting a loan to a borrower made by an investor. A relationship between the lender and the borrower which includes the details of the loan and its payments could be considered as an I.O.U.
A certificate of indebtedness is a negotiable instrument for the short term as evidence of a floating debt. A certificate of indebtedness was more of a government I.O.U., promising holders of certificates with a set coupon to return their funds.
CDs, bond certificates, promissory notes, etc. are all modern forms of certificates of indebtedness.
George's manager has given him the following goal: "Profits should be increased in the coming year in order for employees to receive a monetary bonus." Which characteristic of effective goals is missing?
Answer:
The options for this question are the following:
a. Specific and measurable
b. Cover key result areas
c. Linked to rewards
d. Defined time period
e. Challenging but realistic
The correct answer is a. Specific and measurable .
Explanation:
Without smart goals, there is no success. SMART objectives encourage focus and action. They are a way of contributing structure and measurability to your goals and objectives. If you want to succeed in sports, you must set SMART objectives: specific, measurable, attainable, relevant and temporary. Let's see each one of them and talk about what it really means to set SMART goals:
S - Specific
The less clear your goal is, the less likely it is that you can achieve it. Try to be as specific as possible by asking yourself questions like: What do I really want to achieve? When do I want to get it? Where? How? Including figures in your goal is also a good way to make it more specific. For example: I want to perform 10 Strict Pullups in 15 weeks. Or, my goal is to improve my Aphrodite time by 2 minutes in the next 3 months.
M - Measurable
Measurable is related to the criteria on which you base your achievement, is to have concrete evidence that you have achieved it. How will it make you feel? What are you going to see? Dividing your goal into measurable steps makes it clearer and easier to achieve the desired result.
An RT (ARRT) is the supervising manager of a short-staffed imaging facility in a State having legislation that requires professional certification. A job applicant arrives whose ARRT certification has lapsed. The manager hires him to fill a 20-hour position doing chest and extremity radiography. The supervisor is guilty of
Answer:
The correct answer is breaking the ARRT Rules of Ethics.
Explanation:
Ethical rules serve to regulate the actions of human beings, especially regarding their effects on other people. One of its fundamental characteristics is that they are universal, valid for any ethical subject at any time and place. Some rules may refer only to the agent and the action (smoking prohibited), but the rules that also explain to the subjects receiving the effects of the action are much more complete and interesting.
You have set up a user group named Accounting and have put all employees in the Accounting department in this group, which has been given permission to use the Financial folder on a file server. You are now asked to create a subfolder under Financial named Payroll. Megan, the payroll officer, is the only employee in the Accounting department allowed to access this folder. What is the best way to configure the new share?
Answer:
C.
Explanation:
Based on the information provided within the question it can be said that the best and most efficient possible way to achieve this would be to create a new user group named Payroll, put Megan in the group, and assign the group read/write permissions to the Payroll folder. This would give only Megan access to the folder and allow her to both view and change the contents of that folder as she needs to.
Final answer:
To ensure only Megan can access the Payroll subfolder, one must create it within the Financial folder and set the file and directory permissions specifically for her, using system commands or settings to give her exclusive read, write, and execute access, while maintaining traverse permissions for the Accounting group on parent directories.
Explanation:
To correctly configure the new Payroll subfolder under the Financial folder and ensure that only Megan, the payroll officer, has access to it, the best course of action is to use file and directory permissions. Since the Accounting group already has access to the Financial folder, care must be taken to limit the access to the Payroll subfolder.
Firstly, create the Payroll subfolder within the Financial folder. Secondly, set the permissions of the Payroll folder such that only Megan has read, write, and execute permissions. This can typically be done using the chmod and chown commands on Linux systems, or through the properties settings on a Windows system. If Megan is not already part of a distinct group, create one for her or simply set the permissions for her user specifically.
Ensure that the parent folders have at least execute permissions (x) for the Accounting group, so that the file system hierarchy allows traversal to the Payroll subfolder, but restrict the read and write permissions to Megan alone. This arrangement is analogous to having dedicated access controls on directories and files, structured to separate and protect sensitive data appropriately.
If real GDP per capita in the United States is currently $50,000 and grows at 2.5% per year, it will take approximately how many years to reach $200,000?
Answer:
A. approximately 56 years
Explanation:
Giving that
Annual percentage growth rate = 2.5%
Using rule of 70
Years to double = 70 ÷ 2.5
= 28 years
Therefore, years to quadruple from original GDP
= 28 × 2
= 56 years
Therefore it will take 56 years for US GDP to reach 200,000 from 50,000 at annual rate of 2.5
What is the expected dollar rate of return on dollar deposits with today's exchange rate at $1.10 per euro, next year's expected exchange rate at $1.165 per euro, the dollar interest rate at 10%, and the euro interest rate at 5%
The expected dollar rate of return on dollar deposits, given the stated starting and expected exchange rates, as well as the stated dollar interest rate, is approximately 4.09%.
Explanation:The dollar rate of return on dollar deposits in this scenario can be calculated using the following formula for the rate of return: (End value - Start value) / Start value. The starting value of the dollar is $1.10 per euro. After accruing interest at a 10% dollar interest rate, the end value of the dollar becomes $1.21 per euro. Next year's expected exchange rate is $1.165 per euro. Therefore, the expected dollar rate of return on the dollar deposit is ($1.21 -$1.165) / $1.10, which is approximately 4.09%.
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Cheyenne Corp. wrote checks totaling $33820 during October and $36928 during November. $32160 of these checks cleared the bank in October, and $36075 cleared the bank in November. What was the amount of outstanding checks on November 30?
Answer:
$2,513.
Explanation:
Outstanding checks are those checks that are recorded in the company's books but the bank has yet to record them and update the bank balance. Since the bank balance will not be updated and it will show a greater balance, so while preparing Bank Statement Reconciliation, we have to deduct the amount of outstanding checks from the Bank account balance as per bank statement. The bank due to many reasons can be unable to clear the checks, the most common ones are workload, timing, etc.
In this case, we are required to calculate the amount of outstanding checks. The mathematics here is simply, add the total checks issued by the corporation and deduct the checks cleared by the bank from it.
⇒ Amount of outstanding checks on November 30 =
33, 820 + 36,928 - 32,160 - 36,075 = $2,513.
Answer: Amount of outstanding checks on November 30 = $2,513
Explanation:
GIVEN the following ;
October check total = $33,820
November check total = $36,928
October cleared checks = $32,160
November cleared checks = $36,075
To calculate amount of outstanding cheques:
Total checks issued :
$(33,820 + 36,928) = $70,748
Total checks cleared :
$(32,160 + 36,075) = $68,235
Outstanding checks:
(Total checks issued - total cleared checks)
$70,748 - $68,235 = $2,513
Outstanding checks may be reffered to as checks which have been sanctioned or issued by the payor ( account owner) but yet to be cleared or cashed by the individual or institution to which the check was addressed.
A client has a Cash Account at a broker-dealer and one week ago was sold out of a position for failure to make prompt payment. The customer has now decided to buy 100 shares of ABC common stock @50. This client will be required to:________.
Answer:
[C]
Explanation:
Based on the information provided within the question it can be said that this client will need to make the required payment in full for the purchase prior to entering the order because the account would be frozen. This is because the Reg T states that any individual that has been sold out for failing to make a prompt payment will have their account frozen for 90 days and if they want to make a buy order, then they need to deposit enough money to cover the entire trade in full including fees before the buy order is actually entered.
Ensuring that all the right people, equipment, and materials arrive on time is especially challenging when using which layout? Multiple Choice Fixed-position layout Functional layout Service factory layout Product layout
Answer: Fixed-position layouts
Explanation: Fixed-position layouts are employed to assemble large, bulky, or fragile products to safely and effectively transferred them to a particular site for completion. E.g Assembling of an airplane. furthermore, personnel, supplies, and equipment are brought to the location where the product will be assembled. In involves ensuring that all the right people, equipment, and materials arrive on time and this is a challenging tasks when using fixed-position layouts.
Jackie agrees to pay Ben $1,000 if Ben agrees to not go skydiving for six months. After Ben avoids skydiving for six months, he asks Jackie for payment. Jackie declines to pay Ben the $1,000. The contract between Jackie and Ben:
a. will be enforced because Ben exercised forbearance, which is legally sufficient consideration.
b. will not be enforced because skydiving is a dangerous activity and Ben benefits from the forbearance.
c. will be enforced because Jackie had a preexisting duty to pay Ben.
d. will not be enforced due to lack of consideration.
Answer: A. will be enforced because Ben exercised forbearance, which is legally sufficient consideration.
Explanation: Forbearance can be defined as refraining from doing something that one has a legal right to do or a delay in enforcing a legal right.
From the above question Jackie will be enforced to pay the agreed $1000 to Ben because Ben deliberately delayed his legal right to go skydiving for six months.