Answer:
Explanation:
Year 1:
Cash collected from clients $154,000
Salaries paid to employees for services rendered during the year $27,000
Utilities $84,000
Purchase of insurance policy $58,200
So, in order to find net cash flow, $(154000-27000-84000-58200)=-15200
Year 2:
Cash collected from clients $184,000
Salaries paid 34000
Utilities paid 94000
Insurance paid is 0
So, net cash flow $184000-$(34000+94000)=$56000
Year1 paid 27000 in salaries, accrued =32000
So still 5000 has to be paid in year 2
Year 2 paid 34000 ⇒ so accrued is 29000
Insurance accrued for each year is 58200/3=19400
Income statement for year 1 and 2
year1 year2
Revenue:
Income from services 182000 232000
Expense
Salary 84000 94000
Utilities 32000 29000
Insurance 19400 19400
Net income 46600 89600
Answer:
i. operating income for year 1 = -$15200 and year 2 = $56000
ii. income statement for year 1 =$47000 and year 2 = $89600
Explanation:
operating income shows the financial performance of a business or company. it is the difference between total operating income and total operating expenses. Base on the financial information above, the operating income for year 1 and year 2 can be calculated as:
OPERATING INCOME FOR YEAR 1 AND YEAR 2
year 1 year 2
$ $
Revenue(cash received from clients 154000 184000
less operating expenses:
salaries paid 84000 94000
utilities 27000 34000
purchased insurance policy 58200 0
net operating income -15200 56000
ii. INCOME STATEMENT FOR YEAR 1 AND YEAR 2
year 1 year 2
$ $
Revenue from service 182000 232000
less total expenses:
salaries 84000 94000
utilities 32000 29000
insurance 19400 19400
net income 46600 89600
NOTE: utility cost incurred in year 1 was $32000 but utility actually paid for in year 1 is $27000 which means there is an accrued utility of $5000. in income statement, the 5000 accrued utilities is added to year 1 utilities of 27000 to make up the 32000 and this 5000 accrued utilities is deducted from year 2 utilities of 34000 to arrive the 29000 used in income statements.
Which of the following is something a company could do to foster bonding and affective commitment? Multiple Choice
add dental coverage to its health insurance package
offer incentives to the team with the highest sales
offer college reimbursement for business classes
offer free leadership seminars to all employees
hold a weekly "employee appreciation" party
Answer:
The correct answer is letter "E": hold a weekly "employee appreciation" party.
Explanation:
Organizational commitment plays a key role in employees' performance. The more engaged workers are with the company they work for, the more likely their production is going to be higher. Affective commitment refers to increasing the bonds that link workers within the organization. Casual reunions after every period of time are one of the many activities firms could use to engage employees with their brand.
Final answer:
Companies can foster bonding and affective commitment by offering various initiatives such as free leadership seminars, holding weekly 'employee appreciation' parties, and providing college reimbursement for business classes.
Explanation:
To foster bonding and affective commitment, a company could hold a weekly "employee appreciation" party. This action is likely to create a sense of community and belonging among employees, as it acknowledges their efforts and contributions in a regular and social setting. Such an approach aligns with the principles of organizational behavior, which suggest that positive experiences at work can lead to a deeper commitment to the company.
Organizations can foster bonding and affective commitment among employees by offering various initiatives such as free leadership seminars to all employees, holding weekly 'employee appreciation' parties, and providing college reimbursement for business classes. These actions create a positive work environment and strengthen employee engagement and commitment.
On November 1, Bryant Company received $36,600 for six months of rent in advance. On November 1, Bryant Company credited Rent Revenue, which is an alternate way of recording the initial receipt of cash.Required: Journalize the adjusting entry on November 31.
Answer:
Entry for Bryant company mistake:
Debit Credit
Rent Revenue $36,600
Advance Rent $36,600
Entry for recording rent revenue for the month of November:
Debit Credit
Advance Rent $6,100
(36,600/6)
Rent Revenue $6,100
Explanation:
The journal entry which should have been recorded by the Bryant Company on receipt of rent on November 1 should have been following:
Debit Credit
Cash $36,600
Advance Rent $36,600
But the Bryant company has recorded the following entry on November 1 instead of above mentioned correct entry:
Debit Credit
Cash $36,600
Rent Revenue $36,600
On November 31, the following two journal entries shall be recorded in the accounts of the Bryant Company in order to correct the earlier wrong entry made by the Bryant company and to record the rent income entry for the month of the November.
Entry for Bryant company mistake:
Debit Credit
Rent Revenue $36,600
Advance Rent $36,600
Entry for recording rent revenue for the month of November:
Debit Credit
Advance Rent $6,100
(36,600/6)
Rent Revenue $6,100
Low Carb Diet Supplement Inc. has two divisions. Division A has a profit of $178,000 on sales of $2,680,000. Division B is able to make only $32,600 on sales of $386,000. a. Compute the profit margins (return on sales) for each division. (Input your answers as a percent rounded to 2 decimal places.) b. Based on the profit margins (returns on sales), which division is superior
Answer:
a. 6.64% and 8.45%
b. Division B
Explanation:
The computation of the profit margin is shown below:
Profit margin = (Profit ÷ sales) × 100
For Division A, it would be
= ($178,000 ÷ $2,680,000) × 100
= 6.64%
For Division B, it would be
= ($32,600 ÷ $386,000) × 100
= 8.45%
b. Based on the profit margin, we can conclude that Division B has a higher profit margin that reflects the superior position
Profit margin is calculated by dividing the profit by sales and multiplying by 100. Division A has a profit margin of 6.64% and Division B has a profit margin of 8.45%. Therefore, Division B is superior as it has a higher profit margin, meaning it's more efficient at converting revenue into profit.
Explanation:To calculate the profit margin (also known as return on sales), you divide the profit by the sales and multiply by 100 to get the percentage. For Division A, the profit margin is ($178,000 / $2,680,000) * 100 = 6.64%. For Division B, it is ($32,600 / $386,000) * 100 = 8.45%.
From these results, we can conclude that even though Division A earned more in terms of absolute values, Division B is a superior division, as it has a higher profit margin. This means that Division B is able to convert more of its revenue into profit, making it more efficient.
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On June 1, 2022, the company buys a new machine of greater capacity for $43,750, delivered, trading in the old machine which has a fair value and trade-in allowance of $25,000. To prepare the old machine for removal from the plant cost $94, and expenditures to install the new one were $1,880. It is estimated that the new machine has a useful life of 10 years, with a salvage value of $5,000 at the end of that time. (The exchange has commercial substance.)
Assuming that depreciation is to be computed on the straight-line basis, compute the annual depreciation on the new equipment that should be provided for the fiscal year beginning June 1, 2022
Answer:
Explanation:
Cost of new machine=43750+1880=45630
Annual depreciation=(Cost-Salvage value)/life in years=(45630-5000)/10=4063
Analyzing and Reporting Financial Statement Effects of Transactions M.E. Carter launched Carter Company, a professional services firm on March 1. The firm will prepare financial statements at each month-end. In March (its first month), Carter executed the following transactions. a. Carter (owner) invested in the company $300,000 cash and $60,000 in property and equipment. The company issued common stock to Carter. b. The company paid $9,600 cash for rent of office furnishings and facilities for March. c. The company performed services for clients and immediately received $12,000 cash earned. d. The company performed services for clients and sent a bill for $72,000 with payment due within 60 days. e. The company compensated an office employee with $14,400 cash as salary for March. f. The company received $30,000 cash as partial payment on the amount owed from clients in transaction d. g. The company paid $2,805 cash in dividends to Carter (owner). Prepare an income statement for Carter Company for the month of March. Do not use negative signs with your answers unless to indicate a net loss. Carter Company Income Statement For the month ended March 31 Sale revenue Answer 0 Expenses Rent expense Answer 0 Wage expense Answer 0 Answer 0 Net income (loss) Answer 0
Answer:
$18,000
Explanation:
To find the Sales Revenue we simply add the $12,000 cash received immediately, and the $30,000 received as partial payment, totalling $42,000.
Then, we simply complete the proposed income statement:
Income Statement for the Month Ended in March 31
Sales Revenue $42,000
Rent Expense $9,600
Wage Expense $14,400
Net Income $18,000
Net Income is equal to Revenue - expenses.
JME acquired a depreciable asset on January 1, 2014, for $60,000 cash. At that time JME estimated the asset would last 10 years and have no salvage value. During 2016, JME estimated the remaining life of the asset to be only three more years with a salvage value of $3,000. If JME uses straight-line depreciation, what is the depreciation for 2016? A. $ 6,000 B. $12,000 C. $15,000 D. $16,000
Answer:
C. $15,000
Explanation:
January 1, 2014;
Cost of asset = $60,000
Initial useful life = 10 years
Depreciation (which is the systematic allocation of cost to an asset for usage) based on initial assessment
= $60,000/10
= $6,000
During 2016 (assuming the date to be January 1, 2016) the asset is estimated to have a remaining life of three more years with a salvage value of $3,000.
The accumulated depreciation as at the time of this assessment
= $6,000 × 2 = $12,000
Carrying amount then = $60,000 - $12,000
= $48,000
Depreciation of 2016 = (carry value - salvage value)/remaining life
= ($48,000 - $3,000)/3
= $15,000
The correct option is B. $12,000.
To calculate the depreciation for 2016, we need to consider the change in the estimated useful life and salvage value of the asset.Initially, JME estimated the asset would last 10 years with no salvage value. The straight-line depreciation method calculates depreciation by subtracting the salvage value from the cost of the asset and then dividing by the useful life.
The initial annual depreciation would be:
Initial Depreciation = (Cost of Asset - Salvage Value) / Useful Life
Initial Depreciation = ($60,000 - $0) / 10 years
Initial Depreciation = $6,000 per year
For the first two years (2014 and 2015), JME would have depreciated the asset by:
Total Depreciation for first two years = Initial Depreciation * 2 years
Total Depreciation for first two years = $6,000 * 2
Total Depreciation for first two years = $12,000
In 2016, JME revised the estimated remaining life of the asset to three more years with a salvage value of $3,000. The book value of the asset at the beginning of 2016 would be the original cost minus the depreciation taken in the first two years:
Book Value at beginning of 2016 = Cost of Asset - Total Depreciation for first two years
Book Value at beginning of 2016 = $60,000 - $12,000
Book Value at beginning of 2016 = $48,000
Now, we need to calculate the remaining depreciation based on the revised estimates:
Remaining Depreciation = Book Value at beginning of 2016 - Salvage Value
Remaining Depreciation = $48,000 - $3,000
Remaining Depreciation = $45,000
The remaining depreciation should be spread over the revised remaining useful life of three years:
Revised Annual Depreciation = Remaining Depreciation / Remaining Useful Life
Revised Annual Depreciation = $45,000 / 3 years
Revised Annual Depreciation = $15,000 per year
Therefore, the depreciation for 2016, based on the revised estimates, is $15,000. However, this is not the final answer, as we need to account for the depreciation already taken in the first two years. The total depreciation for 2016 is the sum of the depreciation taken in the first two years plus the depreciation for 2016 based on the revised estimates:
Total Depreciation for 2016 = Initial Depreciation * 2 years + Revised Annual Depreciation
Total Depreciation for 2016 = $6,000 * 2 + $15,000
Total Depreciation for 2016 = $12,000 + $15,000
Total Depreciation for 2016 = $27,000
However, since the question asks for the depreciation for 2016 only, we should not include the depreciation from the first two years in our final answer. The correct depreciation for 2016, based on the revised estimates, is $15,000. But this is not one of the answer choices provided. Upon reviewing the calculation, it appears there was an error in the interpretation of the revised annual depreciation. The correct calculation for the revised annual depreciation should consider the remaining book value at the beginning of 2016 and the revised remaining life:
Revised Annual Depreciation = Remaining Book Value / Remaining Useful Life
Revised Annual Depreciation = $48,000 / 3 years
Revised Annual Depreciation = $16,000 per year
However, since the salvage value is $3,000, we need to subtract this from the annual depreciation to get the depreciation for 2016:
Depreciation for 2016 = Revised Annual Depreciation - (Salvage Value / Remaining Useful Life)
Depreciation for 2016 = $16,000 - ($3,000 / 3)
Depreciation for 2016 = $16,000 - $1,000
Depreciation for 2016 = $15,000
This calculation still results in $15,000, which is not one of the answer choices. The error lies in the fact that we should not subtract the salvage value per year from the annual depreciation since the salvage value has already been considered in the remaining book value.The correct calculation for the depreciation for 2016 is simply the revised annual depreciation based on the remaining book value and the remaining useful life:
Revised Annual Depreciation = Remaining Book Value / Remaining Useful Life
Revised Annual Depreciation = $48,000 / 3 years
Revised Annual Depreciation = $16,000 per year
Since the question asks for the depreciation for the year 2016, and we have calculated the revised annual depreciation to be $16,000 per year for the remaining three years, this is the correct depreciation amount for 2016.
Therefore, the correct answer is D. $16,000.
Beverly’s new fusion restaurant has been in business for 6 months. It is doing great! Each weekend she has more reservation requests than the restaurant can handle. Beverly decides she would like to raise some capital to help the restaurant grow to keep up with the demand. What would be an appropriate choice for Beverly to consider in order to raise that capital?
Answer:
D. Venture Capital
Explanation:
Option A is wrong. As the restaurant has been operating for only six months, it is not a public limited company to offer a preferred stock.
Option B is incorrect. Since the restaurant company is new and expanding steadily, issuing common stock will cost them unnecessary expenses.
Option C is incorrect as taking bonds will see them provide another extra expense, interest cost.
Option D is correct. Venture capitalists seek to help those startups which are relevantly new and expanding steadily but nicely. Therefore, It would be an appropriate choice for Beverly to consider to raise that capital.
To raise capital for her restaurant, Beverly could consider seeking investors, applying for a loan, or crowdfunding.
Explanation:To raise capital for her restaurant, Beverly could consider a few options:
Seeking investors: Beverly could pitch her restaurant idea to potential investors who may be interested in providing capital in exchange for a share in the business.Applying for a loan: Beverly could approach banks or other lending institutions to apply for a business loan to fund the restaurant's growth.Crowdfunding: Beverly could set up a crowdfunding campaign online where individuals can make small contributions towards her business.Each option has its pros and cons, so Beverly should carefully consider her goals, financial situation, and long-term plans before making a decision.
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Economists who asset that the AS curve is vertical believe that changes in Real GDP originate only on the _____________of the economy; so government policy that is intended to impact the ____________________ of the economy will change only ______________, not ________________.a. demand side; supply side; Real GDP; pricesb. demand side; supply side; prices; Real GDPc. supply side; demand side; Real GDP; pricesd. supply side; demand side; prices; Real GDP
Answer:
D. Supply side, Demand side, Prices, Real GDP
Explanation:
Economists who asset that the AS curve is vertical believe that changes in Real GDP originate only on the Supply side of the economy; so government policy that is intended to impact the Demand side of the economy will change only Prices, not Real GDP.
Answer:
D
Explanation:
Economists who asset that the AS curve is vertical believe that changes in Real GDP originate only on the supply side of the economy; so government policy that is intended to impact the demand side of the economy will change only prices, not Real GDP.
Karen White helped organize a charity fund to help cover the medical expenses of a friend of hers who was seriouslyinjured in a bicycle accident. The fund was named Vicky Hill Recovery Fund (VHRF). Karen contributed 81,000 of her ownmoney to the fund. The $1,000 was paid to WKUX, a local radio station that designed and played an advertising campaignto educate the public as to the need for help. The campaign resulted in the collection of $20,000 cash VHRF paid $12,000to Mercy Hospital to cover Vicky’s outstanding hospital cost. The remaining $8,000 was contributed to the National CyclistFund.RequiredIdentify the entities that were mentioned in the scenario and explain what happened to the cash accounts of each entitythat you identify.
Answer:
Explanation:
Karen contributed $1000, so her account decreased by $1000
Company paid $1000 to WKUX radio, so WKUX income increased by $1000
Someone donated $20000 due to campaign, so those who donated decreased their cash account by $20000
VHRF paid Mercy Hospital $12000, so hospital's account increased by $12000
Company contributed to NC Fund of $8000, so their account increased by $8000
VHRF TRANSACTIONS EFFECT:
1. Cash account increased by $21000 (charitable contributions)
2. Cash account decreased by $1000 (radio advertisement)
3. Cash account decreased by $12000 (hospital bills)
4. Cash account decreased by $8000 (contribution to NC fund)
Final answer:
Karen White initiated the Vicky Hill Recovery Fund, contributing $1,000 for an advertising campaign that raised $20,000. $12,000 of the funds raised were used to pay for medical bills, and $8,000 was donated to the National Cyclist Fund, impacting the cash accounts of several entities.
Explanation:
Karen White helped organize a charity fund called the Vicky Hill Recovery Fund (VHRF) to assist with the medical expenses of a friend injured in a bicycle accident. Karen contributed $1,000 to the fund, which was used to pay WKUX, a local radio station, for an advertising campaign. This campaign successfully raised $20,000. Of this amount, $12,000 was paid to Mercy Hospital to cover Vicky’s medical bills, and the remaining $8,000 was donated to the National Cyclist Fund. The entities involved—Karen White, WKUX radio station, Vicky Hill Recovery Fund (VHRF), Mercy Hospital, and the National Cyclist Fund—experienced changes in their cash accounts due to these transactions.
Question:
The equity section of Cyril Corporation's balance sheet shows the following:
Preferred stock: 4% cumulative, $25 par value, $30 call price, 10,000 shares issued and outstanding $250,000
Common stock: $10 par value, 35,000 shares issued and outstanding 350,000
Retained earnings 267,500
Total stockholders' equity $867,500
Determine the book value per share of the preferred and common stock under two separate situations:
1. No preferred dividends are in arrears.
2. Three years of preferred dividends are in arrears.
Answer:
Part 1:
[tex]Book\ value\ per\ share\ of\ the\ preferred=\$25[/tex]
[tex]Book\ value\ per\ share\ of\ the\ common\ stock=\$17.6428[/tex]
Part 2:
[tex]Book\ value\ per\ share\ of\ the\ preferred=\$28[/tex]
[tex]Book\ value\ per\ share\ of\ the\ common\ stock=\$16.7857[/tex]
Explanation:
Part 1: (the book value per share of the preferred and common stock under No preferred dividends are in arrears)
Book value per share of the preferred :
[tex]Book\ value\ per\ share\ of\ the\ preferred=\frac{(Preferred\ Stock+Cumulative\ dividends)}{Number\ of\ shares\ of\ preferred\ stock}[/tex]
In our case Cumulative dividends=0
[tex]Book\ value\ per\ share\ of\ the\ preferred=\frac{\$250000+0}{10000} \\Book\ value\ per\ share\ of\ the\ preferred=\$25[/tex]
Book value per share of the common stock:[tex]Book\ value\ per\ share\ ofthecommonstock=\frac{Stockholder\ equity-Preferred\ Stock-Cumulative\ dividends}{Number\ of\ shares\ of\ preferred\ stock}[/tex]In our case Cumulative dividends=0
[tex]Book\ value\ per\ share\ of\ the\ common\ stock=\frac{\$867500-\$250000-\$0}{35000} \\Book\ value\ per\ share\ of\ the\ common\ stock=\$17.6428[/tex]
Part 2:
Annual Preferred Dividend=4%*$25*10,000=$10,000
Three years of preferred dividends are in arrears= 3*Annual Preferred Dividend
Three years of preferred dividends are in arrears= 3*$10000=$30,000
Formula for the book value per share of the preferred is same as above,so we will direct calculate:
In our case Cumulative dividends=$30,000
Book value per share of the preferred :
[tex]Book\ value\ per\ share\ of\ the\ preferred=\frac{\$250000+\$30000}{10000} \\Book\ value\ per\ share\ of\ the\ preferred=\$28[/tex]
Book value per share of the common stock:
Formula for the book value per share of the common stock is same as above,so we will direct calculate:
[tex]Book\ value\ per\ share\ of\ the\ common\ stock=\frac{\$867500-\$250000-\$30000}{35000} \\Book\ value\ per\ share\ of\ the\ common\ stock=\$16.7857[/tex]
You are giving a tour of businesses to several classical musicians from China. One of the Chinese in the tour group has asked you to define the purpose of business. How should you answer this question?
Answer:
Purpose of business is to increase general well being of people by selling goods and services.
Explanation:
The main purpose of business is to increase well being of people, make profits for its stakeholders and offering value for money to its customers or clients through products and or services. The products and services provided by the company should not harm its customers and clients instead these products and services should provide benefits to its users and satisfy their needs. While making profits a company should keep scarce resources in mind so the needs of the future generation is not compromised also it does not harm the environment by its poisonous wastage. Every business requires some form of investment as an input though which quality output can be provided to its customers and clients.
Suppose Sansa and Arya divide their time between making daggers and shields. It takes Sansa 6 hours to make a dagger and 3 hours to make a shield, and it takes Arya 3 hours to make a dagger and 1 hour to make a shield. Sansa and Arya each work 30 hours a week.a.) sansa: 5
Arya: 10
b.) sansa: 2
Arya: 3
c.) sansa
d.) Arya
Answer:
a. Sansa: 5 daggers per week
Arya: 10 daggers per week
b. Sansa's opportunity cost of making a dagger: 2 shields
Arya's opportunity cost of making a dagger: 3 shields
c. Sansa
d. Arya
Explanation:
a. The maximum number of products made in a week is determined by dividing their weekly time capacity with the time demanded for each piece. So, to determine Sansa's maximum number, just divide 30 hrs / 6 hrs = 5. The same applies for Arya and shields too.
b. The opportunity cost is determined as the missed benefit when Sansa/Arya opts for one product. So, when Sansa chooses to dedicate 6 hours of her working time to make a dagger, she misses the benefits of having 2 shields, as she was able to make 2 shields for the same time frame (6 hours). The same applies for Arya.
c. Comparative advantage is determined by comparing the opportunity costs associated with each product and competitor. Since Sansa's opportunity cost in making daggers is lower than Arya's (2 shields compared to 3 shields), Sansa has a comparative advantage over Arya in making daggers.
d. Absolute advantage is determined as the ability of an individual to produce the same (or greater) number of output than the competitor, given the same time frame. It is evident that Arya has an absolute advantage over Sansa, as she can create more shields and daggers than her in the same time frame (30 hrs).
The question involves calculating the optimal allocation of time for Sansa and Arya based on their differing efficiencies in making daggers and shields. Since Arya has a lower opportunity cost for making shields, she should specialize in shields, while Sansa should specialize in daggers.
Explanation:The question relates to the concept of comparative advantage and opportunity cost in economics, specifically in the area of production possibilities. Sansa and Arya have 30 hours a week to either make daggers or shields. With Sansa taking 6 hours per dagger and 3 hours per shield, and Arya taking 3 hours per dagger and 1 hour per shield, the goal is to figure out how they can best allocate their time to maximize production, considering their different efficiencies.
To determine who should specialize in which task, we compare their opportunity costs. Sansa sacrifices two shields when she makes one dagger (6 hours for a dagger compared to 3 hours for a shield). Arya sacrifices three shields for each dagger she makes (3 hours for a dagger compared to 1 hour for a shield). Hence, Arya should specialize in making shields because she has a comparative advantage in making shields, and Sansa should specialize in making daggers.
If they specialize, Sansa will spend her entire 30 hours making daggers, producing 5 daggers (30 hours / 6 hours per dagger), while Arya will spend her 30 hours making shields, producing 30 shields (30 hours / 1 hour per shield). Answer (b), which states Sansa: 2 and Arya: 3, does not correctly represent their production capabilities based on the given information.
A firm expands its scale of production and finds that it is able to negotiate better prices with its suppliers.
Which of the curves best applies to this firm?
Answer:
Economies of Scale
Explanation:
If a firm expands its scale of production and finds that it is able to negotiate better prices with its suppliers then the curve that best applies to the firm is 'economies of scale'
Economies of scale is a concept in microeconomics that holds that there are benefits of cost reduction that is due to an enterprise when it increases its scale of operation.
The benefit is better demonstrated in the average cost per unit because as more and more units are produced, lesser and lesser portion of the fixed costs of the overhead fixed costs become attributable to each unit and even the variable cost falls because material price becomes cheaper as a result of quantity discounts, even labour could double their output with overtime payment which is less than doubling wages.
Recently, the Economist Intelligence Unit investigated the status of democracies around the globe. Relying on 60 indicators that focus on the performance of free elections, civil liberties, government functioning, political participation, and political culture in a country, the study found that ________.
A) almost all of the world's democracies are full democracies
B) nearly half of the world's democracies qualify as "full" or "flawed" democracies
C) less than a quarter of the countries studied are outright authoritarian regimes
D) most democracies are hybrid political systems that share theocratic and totalitarian characteristics
Answer:
The correct answer is (B)
Explanation:
Economist intelligence unit is a survey institution that emphasis on various economic, social and political indicators. Countries around the globe are having a different set of government institutions. According to the economist intelligence unit considering various factor concluded that almost half of the world's democracies are full or flawed democracies which means the elections are fair and transparent.
Projects are identified and selected in the
a. planning phase
b. initiating phase
c. closing phase
d. performing phase
Answer:
correct answer is a. planning phase
Explanation:
project have 4 phase of life cycle and they are
Initiating Phase Planning Phase Execution or performing Phase Closing Phaseso in these 4 phase Projects identified in planning phase because
in planning phase we identifies all type of the work to be done and here project solutions also developed in detail and necessary steps taken for project planned
it cover approx 50% of the whole process
so here tasks and resource requirement is identified
so correct answer is a. planning phase
Helen Weeks has worked for Bonne Consulting Group (BCG) as the executive secretary in the administrative department for nearly 10 years. Her apparent integrity and dedication to her work has quickly earned her a reputation as an outstanding employee and has resulted in increased responsibilities. Her present responsibilities include making arrangements for outside feasibility studies, maintaining client files, working with outside marketing consultants, initiating the payment process, and notifying the accounting department of all openings or closings of vendor accounts.
During Helen’s first five years of employment, BCG subcontracted all of its feasibility and marketing studies through Jackson & Co. This relationship was subsequently terminated because Jackson & Co. merged with a larger, more expensive consulting group. At the time of termination, Helen and her supervisor were forced to select a new firm to conduct BCG’s market research. However, Helen never informed the accounting department that the Jackson & Co. account had been closed.
Since her supervisor allowed Helen to sign the payment voucher for services rendered, Helen was able to continue to process checks made payable to Jackson’s account. Because her supervisor completely trusted her, he allowed her to sign for all voucher payments less than $10,000. The accounting department continued to process the payments, and Helen would take responsibility for distributing the payments. Helen opened a bank account in a nearby city under the name of Jackson & Co., where she would make the deposit. She paid all of her personal expenses out of this account.
Assume that you have recently been hired by Bonne Consulting Group to help detect and prevent fraud.
1. What internal controls are missing in Helen’s company?
2. What gave Helen the opportunity to perpetrate the fraud?
3. How could this fraud have been detected?
Answer:
1.) The internal controls which were missing are from the separation of responsibilities. There must have been in place an inner regulator were an individual works with advisers while alternative individual or unit take-care of the expense procedure, then somebody else allow expenses and then office should distribute the expenditures. There is an absence of inner controls as you can realize that the corporation amalgamated with a larger corporation and no one measured other accounts such as Jackson and company any longer.
2.) With the lack of control, this offered Helen the chance to effect the fraud. With this presence said, she was talented to emulate sign receipts and spend the retailer’s expenditures. She were also the one in responsibility of office the initial and final of accounts. In short, she had several accountabilities that should have remained separated up better and had diverse individuals for the separations of the job. In addition, she needed a bank description from the corporation where she was capable to put the expenditures and pay individual expenditures.
3.) The method this fraud might be noticed is the inspection squad can ask the bank for reports. They might also conference sellers. The accounting section should have ended sure they were doing the due diligence in dealers and corresponding the receipts with statements and expenditures.
The internal controls missing in Helen's company include a lack of segregation of duties, no proper reconciliation of vendor accounts, and an absence of regular audits or checks. Helen was able to perpetrate the fraud because of her supervisor's trust and the lack of oversight in her responsibilities. The fraud could have been detected through regular reconciliation of accounts, auditing the payment process, and reviewing bank statements.
Explanation:1. The internal controls missing in Helen's company include:
A lack of segregation of duties, as Helen was able to initiate and process payments without oversight.No proper reconciliation of vendor accounts, as Helen did not notify the accounting department of the closure of the Jackson & Co. account.An absence of regular audits or checks on payment processes, allowing Helen to continue the fraud undetected.2. Helen was given the opportunity to perpetrate the fraud due to her supervisor's complete trust in her and the lack of oversight in her job responsibilities.
3. The fraud could have been detected through:
Regular reconciliation of vendor accounts and verification of payment recipients.Auditing the payment process to ensure proper authorization and segregation of duties.Reviewing bank statements and identifying suspicious transactions.Learn more about Internal controls in business here:https://brainly.com/question/31936516
Financial managers of MNCs should learn how to manage foreign exchange and political risks using proper tools and instruments.
True/False
Answer:
True
Explanation:
Financial managers should manage foreign exchange and political risks by using proper tools and instruments . This deals with (and take advantage of) market imperfections also benefits from the expanded investment and financing opportunities
PS.02 A process that utilizes inexpensive general-purpose capital equipment will tend to have higher skilled workers.
True or false?
Answer:
True
Explanation:
There are various manufacturing process some require skilled workers and some operations demand expensive machinery and capital equipment. The process that utilises inexpensive general-purpose capital equipment generally requires skilled workers to operate it. Inexpensive equipment is not easy to handle and require experts to maintain and operate, which is why the above statement is true.
A firm’s current profits are $ 400,000. These profits are expected to grow indefinitely at a constant annual rate of 4 percent. If the firm’s opportunity cost of funds is 6 percent, determine the value of the firm a. The instant before it pays out current profits as dividends.
Answer:
$20,800,000
Explanation:
The formula and computation is shown below:
Value of the firm = {(Firm's current profits) × (1 + firm’s opportunity cost of funds)} ÷ (firm’s opportunity cost of funds - constant growth annual rate)
= {($400,000) × (1 + 0.06) ÷ (0.06 - 0.04)
= $424,000 ÷ 0.02
= $21,200,000
Hence, we recognized all the information which is mentioned in the question.
The value of the firm just before it pays out current profits as dividends is $20,000,000.
Explanation:To determine the value of the firm just before it pays out current profits as dividends, we need to calculate the present value of the firm's future profits. The formula to calculate the present value is:
Present Value = Cash Flow / (Discount Rate - Growth Rate)
In this case, the current profits are $400,000 and the annual growth rate is 4%. The opportunity cost of funds is 6%. Using these values, we can calculate the present value:
Present Value = $400,000 / (0.06 - 0.04) = $20,000,000
Therefore, the value of the firm just before it pays out current profits as dividends is $20,000,000.
When Minute Maid mailed out free samples of its new instant drink mix, it was trying to move prospective customers into the ____ stage of the product adoption process.
a. evaluation
b. awareness
c. adoption
d. interest
e. trial
Answer: (E) Trial
Explanation:
The trial stage is one of the stage in the product adopting process in which the customer trail about the new products and the services in the market on a very small scale for estimating about the value of the given product.
In this process consumer trail the item and the decide about using the new launched product on the regularly basis.
According to the given question, the customers trying the new products sample of the instant drink are refers to the trial stage of the product adopting process.
Therefore, Option (E) is correct answer.
You would like to buy shares of International Business Machines (BM). The current bid and ask quotes are $103.25 and $103.30, respectively You place a market buy-order for 200 shares that executes at these quoted prices. How much money did it cost to buy these shares?
a. $10,330.00
b. $20,650.00
c. $20,660.00
d. None of the options
Answer:
c. $20,660.00
Explanation:
Given that
Current bid price = $103.25
Ask price = $103.30
Number of shares = 200 shares
By considering the above information, the amount of money for buying these shares would be equal to
= Number of shares × ask price
= 200 shares × $103.30
= $20,660
Since the shares are of buy market order, so we consider the ask price only, instead of the current bid price
Final answer:
The total cost to buy 200 shares of IBM at the ask price of $103.30 per share is $20,660.00.
Explanation:
When you place a market buy-order for shares, you agree to buy the shares at the current ask price. In this case, the ask price for International Business Machines (IBM) shares is $103.30. If you buy 200 shares at this price, the total cost will be calculated as follows:
Number of shares bought: 200 sharesAsk price per share: $103.30Total cost: 200 shares × $103.30 per share = $20,660.00Therefore, the total cost to buy 200 shares of IBM at the ask price of $103.30 per share is $20,660.00.
Suppose that the government believes the economy is producing goods and services beyond its optimal level. The government therefore decides to decrease the quantity of money in the economy. This monetary policy____________ the economy's demand for goods and services, leading to____________product prices. In the short run, the change in prices induces firms to produce_________ goods and services. This, in turn, leads to a________level of unemployment. In other words, the economy faces a trade-off between inflation and unemployment: Lower inflation leads to_______ unemployment.
Answer:
1. Reduces
2. Decrease in
3. Less Quantity
4. Increased level
5. Higher level
Explanation:
The challenge with the monetary policy introduced by the government is that it is a contractionary policy. A contractionary monetary policy fights inflation by reducing the money in supply in order to increase the cost of borrowing.
However, the problem with contractionary policy is that once the demands for goods and services decrease, the price of products will go down to entice people to consume and purchase. Once the price of products go down, the manufacturers are demotivated to produce more, hence production will go down.
Once production goes down, people are laid off work, and firms can no longer employ more leading to a higher level of unemployment.
The challenge therefore is that lowering inflation will lead to increased unemployment due to the ripple effects.
A contractionary monetary policy reduces demand for goods and services, leading to lower prices and less production. This, in turn, increases the level of unemployment. This policy illustrates the trade-off between inflation and unemployment.
Explanation:When the government sees the economy is overproducing, it may enact a contractionary monetary policy. Doing so involves decreasing the available money in the market. This decision reduces the economy's demand for goods and services, leading to lower product prices. As prices decrease in the short term, firms become discouraged from producing excess goods and services and thus produce fewer goods. Consequently, this leads to an increased level of unemployment. This scenario represents the economic trade-off between inflation and unemployment, essentially meaning lower inflation can lead to higher unemployment.
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Struggling with this one
Job-specific human capital. In this problem, based on a simplified
version of the model in Bhattacharya and Sood (2006), we will explore how linking employment and health insurance provision can (partially) solve the adverse selection problem if the labor market is competitive. Suppose that there are two types of workers - sickly workers with probability ps of falling ill over the course of the next year, and robust workers with probability pr < ps of falling ill. Employers cannot observe whether a worker is sickly or robust, and because of U.S. law they can only decide to offer health insurance to allof their workers, or none at all. We will assume that a just-hired employee is less productive than an employee who has more experience; let MPn be the marginal value product of new employees, and MPe > MPn be the marginal value product of experienced employees. In this simple model, marginal value product depends only on experience, not on whether a worker is sickly or robust.
(a) Consider an employer deciding whether to hire a new employee who will produce a marginal value product of MP. If the employer offers income and no health insurance, what wage, w, will the employer have to pay the employee in a competitive labor market? What would happen if the employer offered the employee less? What would happen if the employer offered the employee more?
Answer:
The wage of the marginal employee is related wiht the marginal productivity of this employee
Explanation:
If the employer offer less, the employer can hire more employees, an the marginal productivity of the employees will decreases, and the employer will fire the employees and hire new ones, but if the employer offer more, it will cause losses, and the employer will fire this marginal employee and hire a new one. The wage it is determined by the average productivity, if there are to much sickly workers, the average productivy will be low, also the wage that the employer will offer.
Final answer:
In a competitive labor market, an employer must pay a competitive wage if not offering health insurance, balancing the risk of paying too much or too little based on their capacity to attract skilled workers while managing adverse selection in health insurance.
Explanation:
In a competitive labor market, an employer deciding to hire a new employee and offer a marginal value product of MP without health insurance must pay a wage, w, that reflects the going market rate for the job, skill level, and conditions, including the lack of health insurance benefits. If the employer offers less than this market rate, potential employees might choose to work elsewhere where they can get a better package, leading to the employer not being able to attract enough skilled workers. Conversely, if the employer offers more, they might attract a higher caliber of applicants, but it might also lead to increased labor costs that are not sustainable in the long run. Given the complexities of the health insurance market, employers are faced with the decisions of either offering health insurance to all employees or none, due to U.S. law restrictions, which plays a significant role in their ability to manage adverse selection problems and compete for talent in cases where job-specific human capital is inherently intertwined with employees' health status.
All of the following are possible ways to commit fraud by using a payroll scheme EXCEPT:
(A) overstating expenses.
(B) falsifying hours worked.
(C) creating ghost employees.
(D) producing false worker compensation claim.
Answer:
The correct answer is letter "A": overstating expenses.
Explanation:
For accounting record-keeping, the company's expenses are not included within the labor direct costs. Expenses refer to all those expenditures a company may incur as a result to handle businesses and pursuing to keep it going. Those transactions are recorded in the income statement.
You are given the following information: Stockholders' equity as reported on the firm’s balance sheet = $4 billion, price/earnings ratio = 20.5, common shares outstanding = 60 million, and market/book ratio = 1.7. The firm's market value of total debt is $8 billion; the firm has cash and equivalents totaling $320 million; and the firm's EBITDA equals $1 billion.
What is the price of a share of the company's common stock? Do not round intermediate calculations. Round your answer to the nearest cent. $
What is the firm's EV/EBITDA? Do not round intermediate calculations. Round your answer to two decimal places.
The price of a share of the company's common stock is $113.33, after calculating the market value of equity using the market/book ratio and dividing by shares outstanding. The firm's EV/EBITDA is 14.48, found by computing the Enterprise Value and dividing by EBITDA.
Explanation:To find the price of a share of the company's common stock, first, we need to calculate the market capitalization of the equity. Since we know the market/book ratio is 1.7 and the book value of equity is $4 billion, the market value of equity is $4 billion * 1.7 = $6.8 billion. With 60 million common shares outstanding, the price per share is $6.8 billion / 60 million = $113.33 per share.
For the firm's EV/EBITDA calculation, we need to find the Enterprise Value (EV) first. The EV is calculated as market value of equity + market value of total debt - cash and equivalents. Thus, EV = $6.8 billion + $8 billion - $320 million = $14.48 billion. Then, EV/EBITDA = $14.48 billion / $1 billion = 14.48. Hence, the firm's EV/EBITDA ratio is 14.48.
Clean Chemical Corp. recently moved its operations from Houston, Texas, to Somalia. The decision to move was the result of new federal regulations regarding clean air standards that all chemical corporations are subjected to. A critic of globalization would say this example demonstrates what concern?a. As countries get richer, they relax their environmental and labor regulations.b. Manufacturing enterprises are put at a competitive disadvantage by moving their production facilities to nations that do not have burdensome regulations.c. More countries are working to meet the strict environmental standards set by the U.S. government.d. Free trade discourages firms from advanced nations to move manufacturing facilities to less developed countries.e. Facilities in advanced nations are moving to less developed countries that have lower environmental regulations.
Answer:
The correct answer is letter "E": Facilities in advanced nations are moving to less developed countries that have lower environmental regulations.
Explanation:
To reduce costs and avoid strict regulations that could harm their operations, countries move their businesses to developing or underdeveloped countries. Most of the time this is considered an unethical practice because it takes away job opportunities in the country where the operations of the company will be removed and is an easy way to surpass necessary regulations that other countries do not even consider that could bring negative damages to society.
HipHop Music Company assigns workers to departments based on similar skills. Currently, the company has a marketing department, a production department, a finance department, and a human resources department. This suggests that HipHop departmentalizes by: A. process.B.function.C. user group.D. tradition.
Answer:
Correct answer is (B). function.
Explanation:
By assigning workers to different department base on the skill, the HipHop Music Company is differentiating their tasks base on the functions of each department
If a strategy profile is a Nash Equilibrium a. Players may be using a weakly dominated strategy. b. Players maximize their own payoffs. c. Players are using a strictly dominant strategy. d. All the other answer options are correct.
Answer:
b. Players maximize their own payoffs.
Explanation:
Nash equilibrium, one of the most important tools of Game Theory, is the name given to players' strategy choices with certain features. According to the Nash equilibrium, each individual should try to do the best he can, taking into account the movements of other individuals with whom he is involved. In other words, the preferences of the individual depend on the preferences of others. In this case, the individual is expected to take an attitude not only in his own interest but also in the interests of others. Each individual should try to do the best he can, by seeing the movements of all the other individuals with whom he has a relationship. Let each player choose one of the actions he has in the game, and let's assume that all players make such a choice. If the action chosen for one player is the best action (in terms of return) that is taken into consideration by the action chosen by other players, and this feature is provided for all players, these actions create a Nash Equilibrium. Players can choose lean actions as well as choose to play multiple actions with a certain probability. Nash Balance is named after the American mathematician John Nash, who made important contributions to the concept of Game Theory. The first person to make an analytically similar observation is a French mathematician named Antoine Augustin Cournot. Cournot observed and detailed this phenomenon for a theoretical market where the two companies simultaneously determined the amount of production. In his doctoral dissertation in 1950, John Nash received the 1994 Economy Nobel Prize, proving that this balance exists in all games where the utility functions of players provide certain features.
Many business people believe that marketing should focus on factors other than financial goals, such as ___.
Answer:
Corporate citizenry
Explanation:
Many business people believe that marketing should focus on factors other than financial goals, such as Corporate citizenry
Marketing's focus should not be solely on financial goals. Other important factors can include brand reputation, customer satisfaction, sustainability, and social impact. These elements help establish a positive image, customer loyalty, and contribute to societal good.
Explanation:Many business people believe that marketing should focus on a variety of factors beyond just financial goals. These alternative focal points can include elements such as brand reputation, customer satisfaction, sustainability efforts, and social impact. For example, a business can focus on increasing its brand reputation by ensuring high-quality services or products or good team processes. Customer satisfaction is another vital aspect. Businesses may focus on customer feedback and experiences to improve and meet their needs. Sustainability efforts are another focus area, with businesses emphasizing environmentally friendly practices. Lastly, many businesses aim to have a positive social impact by contributing to the community or society at large.
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The ____, an accord among 117 nations, called for lower tariffs around the world. a. European Union Accord b. North American Free Trade Agreement (NAFTA) c. General Agreement on Tariffs and Trade (GATT) d. None of these are correct. e. Single European Act of 1987
Answer:
The correct answer is letter "C": General Agreement on Tariffs and Trade (GATT).
Explanation:
The General Agreement on Tariffs and Trade (GATT) is a treaty effective from 1948 that pursues fairness when it comes to international trade by reducing tariffs and that promotes equal treatment among countries. The GATT was replaced by the World Trade Organization (WTO) in 1995 under the same objectives but with more participation of the member nations.