The cost of equity for Go-Blue using the constant dividend growth model The constant dividend growth model is also known as the Gordon Model. It is used to calculate the cost of equity of a firm that pays dividends and grows at a constant rate.
The formula to calculate the cost of equity for Go-Blue using the constant dividend growth model is as follows:
Cost of equity using the constant dividend growth model (Ke) = (Expected dividend/ Current stock price) + growth rate [tex]Ke = (1.5/20) + 5% Ke = 12.5%b[/tex]
The cost of equity for Go-Blue using the Capital Asset Pricing Model The Capital Asset Pricing Model (CAPM) is a financial model that is used to calculate the cost of equity of a company. The formula to calculate the cost of equity for Go-Blue using the Capital Asset Pricing Model is as follows:
[tex]CAPM = Rf + Beta × (Rm - Rf)CAPM = 4% + 1.2 × 8%CAPM = 13.6%c[/tex]
The overall cost of equity (Average of the two methods)To calculate the overall cost of equity, we need to take the average of the two methods.
[tex]Overall cost of equity = (Ke using constant dividend growth model + Ke using CAPM)/ 2[/tex]
[tex]Overall cost of equity = (12.5% + 13.6%)/ 2[/tex]
[tex]Overall cost of equity = 13.05%[/tex]
Thus, the [tex]overall cost of equity of Go-Blue is 13.05%.[/tex]
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Suppose the Social Security tax rate is 6.2 percent of eamings up to a maximum of $117,000, beyond which there is no additional tax. Zia has earnings of $130,000 and Paul has earnings of $60,000. Zia's average tax rate is percent and Paul's average tax rate is percent. (Round your responses to two decimal places.) The Social Security tax is an example of a tax. The Social Security tax is an example of a tax. regressive proportional progressive
The Social Security tax is an example of a regressive tax since the tax rate is fixed, and it takes a higher percentage of income from people with lower income.
Therefore, the amount of earnings subject to the tax is $117,000. Zia will pay 6.2% of this amount as the Social Security tax.
So, the amount of Social Security tax Paul pays = [tex]6.2% of $60,000= 0.062 x $60,000 = $3,720[/tex]
Since Paul’s total earnings are $60,000, the average tax rate for Paul = (Social Security tax Paul pays / Paul's earnings) x 100%[tex]= ($3,720 / $60,000) x 100% = 6.20%[/tex] rounded to two decimal places.
In conclusion, Zia's average tax rate is 5.58%, and Paul's average tax rate is 6.20%.
The Social Security tax is an example of a regressive tax since the tax rate is fixed, and it takes a higher percentage of income from people with lower income.
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Q.Review the common-size financial statements of at least two businesses within your industry. Provide copies of balance sheets and income statements of each of these businesses and discuss the information you can derive from those financial statements and how you can apply that to your business. The review of the financial statements should be specific to those statements provided, and not a generalized discussion of what financial statements are?
note: my business is cafe serve cofee and beverages in San Diego California
As per the given problem, the common-size financial statements of at least two businesses within the cafe industry serving coffee and beverages in San Diego, California will be reviewed. The financial statements which will be used for this analysis are income statements and balance sheets.
The analysis of common-size financial statements can provide insights into the relative composition of various expenses and assets. This will assist the cafe business in evaluating its financial health and planning for the future.
Balance sheets of two companies in the cafe industry of San Diego, California:
Company 1:
Cash and cash equivalents - 30%
Accounts receivable - 20%
Inventory - 15%
Property, plant and equipment - 35%
Liabilities - 100%
Company 2:
Cash and cash equivalents - 20%
Accounts receivable - 25%
Inventory - 18%
Property, plant and equipment - 37%
Liabilities - 100%
Income statements of two companies in the cafe industry of San Diego, California:
Company 1:
Revenue - 100%
Cost of Goods Sold - 30%
Gross Profit - 70%
Operating Expenses - 45%
Operating Income - 25%
Interest Expense - 5%
Net Income - 20%
Company 2:
Revenue - 100%
Cost of Goods Sold - 32%
Gross Profit - 68%
Operating Expenses - 43%
Operating Income - 25%
Interest Expense - 6%
Net Income - 19%
Based on the above common-size financial statements, the following information can be derived:
1. Liquidity - Cash and cash equivalents account for a significant portion of the total assets of the two companies. A relatively higher proportion of cash and cash equivalents means that the companies have better liquidity.
2. Asset utilization - A comparison of the inventory of the two companies shows that Company 1 has a higher inventory turnover rate than Company 2. This indicates that Company 1 is more efficient in utilizing its assets.
3. Debt management - Both companies have the same proportion of liabilities on their balance sheets. However, the interest expense of Company 2 is higher than Company 1, which indicates that Company 2 may have a higher amount of debt or a higher cost of debt.
4. Profitability - Both companies have a similar gross profit margin, but Company 1 has a higher net income margin than Company 2. This could be because Company 1 has a better cost structure or has more efficient operations.
In conclusion, analyzing the common-size financial statements of companies within the cafe industry in San Diego, California can provide valuable insights into a business's financial health and future planning. Based on this analysis, a cafe serving coffee and beverages in San Diego can benchmark itself against the competition and identify areas of improvement.
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Gemma wants to start a sandwich shop as a sole proprietor. If she does, and Gemma is the owner of the business, which of the following is true? Gemma:
-has unlimited liability for all obligations of the business.
-has a right to receive all of the profits.
-pays personal income taxes on the business profits.
-ALL OF THESE
Gemma wants to start a sandwich shop as a sole proprietor. If she does, and Gemma is the owner of the business. All of the following are true if Gemma starts a sandwich shop as a sole proprietor:
Gemma has unlimited liability for all obligations of the business: As a sole proprietor, Gemma is personally responsible for all debts, liabilities, and legal obligations of the business. This means her personal assets are at risk in the event of any financial or legal issues related to the business.
Gemma has the right to receive all of the profits: As the sole owner of the business, Gemma is entitled to all the profits generated by the sandwich shop. She does not have to share the profits with any partners or shareholders.
Gemma pays personal income taxes on the business profits: As a sole proprietor, Gemma's business income is considered her personal income for tax purposes. She reports the business profits and losses on her personal tax return and pays income taxes on those profits accordingly.
Therefore, the correct answer is: ALL OF THESE.
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This question relates to other public accounting services and reports. For each statement numbered 1 through 5 , match the statement correct engagement or report ( A through E ) and place the identifying letter in the space provided. A. A review engagement of the financial statements of a private company B. A compilation engagement A review of the interim financial statements of a public company A report on financial statements prepared in accordance with an appropriate disclosed basis of accounting E. An audit on financial information other than historical financlal statements. 1. The information should be in accordance with generally accepted accounting principles. 2. In our opinion, the schedule of accounts receivable referred to above presents fairy, in all moterial resperis 3. from information provided by management. 4. As described in Note 2 , these financial statements were prepared in accordance with accounting principies presenbed for Schooi Boards in Ontario. 1. The information should be in accordance with generally accepted accounting principles. 2. In our opinion, the schedule of accounts receivable referred to above presents fairly, in all material respects. 3. from information provided by management. 4. As described in Note 2, these financial statements were prepared in accordance with accounting principles prescribed for Schod Boards in Ontario. 5. does not constitute an audit and consequently 1 do not express an audit opinion.
Public accounting services and reports refer to an accountant's work in a public practice firm, providing financial services to assist businesses, governments, and other organizations.
The correct engagement or report for each statement is given below.
1. The information should be in accordance with generally accepted accounting principles. - A report on financial statements prepared in accordance with an appropriate disclosed basis of accounting.
2. In our opinion, the schedule of accounts receivable referred to above presents fairly, in all material respects. - A review engagement of the financial statements of a private company.
3. From information provided by management. - A compilation engagement.
4. As described in Note 2, these financial statements were prepared in accordance with accounting principles prescribed for School Boards in Ontario. - A review of the interim financial statements of a public company.
5. Does not constitute an audit and consequently, I do not express an audit opinion. - An audit on financial information other than historical financial statements.
The statements numbered 1 to 5 refer to different types of reports or engagements used in public accounting services.
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Which of the following is correct about Autumn's debt management ratios? Autumn needs to decrease her monthly mortgage payments. Autumn needs to decrease both her consumer debt and monthly mortgage payments. Autumn needs to decrease her consumer debt payments. Autumn's monthly mortgage payments are within the guidelines.
Insufficient information is provided to determine the correct statement about Autumn's debt management ratios.
The given options lack specific details about Autumn's debt management ratios. To assess the correct statement, we need information about the actual ratios and financial situation of Autumn, such as her debt-to-income ratio, debt service coverage ratio, or other relevant indicators.
Option (a) suggests that Autumn needs to decrease her monthly mortgage payments. This may be a valid suggestion if her current mortgage payments are too high relative to her income or financial capabilities. However, without specific information about Autumn's financial situation and the affordability of her mortgage payments, we cannot definitively say whether this statement is correct.
Option (b) states that Autumn needs to decrease both her consumer debt and monthly mortgage payments. Again, without knowledge of Autumn's debt levels, income, and overall financial situation, we cannot determine the accuracy of this statement.
Option (c) suggests that Autumn needs to decrease her consumer debt payments. While reducing consumer debt payments can be a valid strategy for improving overall debt management, we lack the necessary context to determine if this statement applies to Autumn.
Option (d) implies that Autumn's monthly mortgage payments are within the guidelines. However, without knowledge of the specific guidelines or Autumn's financial circumstances, we cannot assess the accuracy of this statement.
In summary, without additional information about Autumn's debt ratios, income, expenses, and overall financial situation, it is not possible to determine which statement accurately describes her debt management needs.
Which of the following is correct about Autumn's debt management ratios? Autumn needs to decrease her monthly mortgage payments. Autumn needs to decrease both her consumer debt and monthly mortgage payments. Autumn needs to decrease her consumer debt payments. Autumn's monthly mortgage payments are within the guidelines.
INCOMPLETE QUESTION
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Election ads are randomly and independently selected to be aired by the following four methods: TV, Radio, Social Media, and Newspapers. Historical data suggests that 95% of the ads are aired on Social Media, 3% use TV, and 1% in newspapers.
If one hundred and twenty ads are aired, answer the following:
What is the probability of 7 ads being aired on TV and 110 by social media and less than or equal to 1 by newspapers, and the rest aired by radio?
Given that the election ads are randomly and independently selected to be aired by the following four methods: TV, Radio, Social Media, and Newspapers. Historical data suggests that 95% of the ads are aired on Social Media, 3% use TV, and 1% in newspapers.
Now we need to find the probability of 7 ads being aired on TV and 110 by social media and less than or equal to 1 by newspapers, and the rest aired by radio.Let the probability of airing ads on TV, Radio, Social Media, and Newspapers be P(TV), P(Radio), P(Social media), P(Newspapers) respectively.Now, P(TV) = 3/100, P(Social media) = 95/100,
P(Newspapers) = 1/100, and the probability of airing by Radio can be found as follows:P(Radio) = 1 - (P(TV) + P(Social media) + P(Newspapers))= 1 - (3/100 + 95/100 + 1/100)= 1 - 99/100= 1/100= 0.01.
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Walker Technical Institute (WTI), a school owned by Sarah Walker, provides training to individuals who pay tuition directly to the school. WTI also offers training to groups in off-site locations. Its unadjusted trial balance as of December 31, is found on the trial balance tab. WTI initially records prepaid expenses and unearned revenues in balance sheet accounts. Descriptions of items a through h that require adjusting entries on December 31.An analysis of WTI's insurance policies shows that $2,450 of coverage has expired.An inventory count shows that teaching supplies costing $3,040 are available at year-end.Annual depreciation on the equipment is $6,000.Annual depreciation on the professional library is $11,400.On September 1, WTI agreed to do five courses for a client for $2,600 each. Two courses will start immediately and finish before the end of the year. Three courses will not begin until next year. The client paid $13,000 cash in advance for all five courses on September 1, and WTI credited Unearned Training Fees.On October 15, WTI agreed to teach a four-month class (beginning immediately) for an executive with payment due at the end of the class. At December 31, $10,500 of the tuition has been earned by WTI.WTI's two employees are paid weekly. As of the end of the year, two days' salaries have accrued at the rate of $220 per day for each employee.The balance in the Prepaid Rent account represents rent for December
The adjusting entries on December 31 for Walker Technical Institute (WTI) include recording expired insurance coverage, adjusting teaching supplies inventory, recognizing annual depreciation on equipment and professional library, adjusting unearned training fees, recognizing earned tuition for a four-month class, accruing salaries, and adjusting prepaid rent.
Expired Insurance Coverage:
The analysis of WTI's insurance policies reveals that $2,450 of coverage has expired by December 31. Since this coverage has been utilized during the year, it should be recorded as an expense. The entry would be a debit to Insurance Expense and a credit to Prepaid Insurance.
Annual Depreciation on Professional Library:
Similar to the equipment, the professional library also depreciates. The annual depreciation on the professional library is $11,400. To account for this expense, an adjusting entry is required. The entry would involve debiting Depreciation Expense - Professional Library and crediting Accumulated Depreciation - Professional Library.
Unearned Training Fees:
WTI received $13,000 in advance from a client on September 1 for five courses. Two courses started and finished in the current year, while three courses will begin next year. At the end of the year, the unearned portion of the training fees needs to be adjusted. The entry would involve debiting Unearned Training Fees and crediting Training Fees Earned.
Earned Tuition for the Four-Month Class:
WTI agreed to teach a four-month class for an executive, and the payment is due at the end of the class. By December 31, $10,500 of the tuition has been earned. To recognize the revenue, an adjusting entry is required. The entry would involve debiting Accounts Receivable and crediting Tuition Fees Earned.
Accrued Salaries:
WTI's employees are paid weekly, and by the end of the year, two days' salaries have accrued for each employee at a rate of $220 per day. Since the employees have earned their salaries, an adjusting entry is needed to record the accrued expenses. The entry would involve debiting Salaries Expense and crediting Salaries Payable.
Prepaid Rent:
The balance in the Prepaid Rent account represents rent for December. As the month has ended, an adjustment is required to recognize the portion of rent that has been utilized. The entry would debit Rent Expense and credit Prepaid Rent.
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Choose one (1) of the following two prompts to discuss the implications for management and business strategy:
Determine the resources you would choose to recruit new employees. Discuss why you chose those resources.
OR
Determine the qualifications you would require a new employee to have and discuss why the qualifications that you selected are important.
Determine the qualifications you would require a new employee to have and discuss why the qualifications that you selected are important.
When recruiting new employees, I would prioritize qualifications such as relevant work experience, educational background, and specific skills that align with the job requirements. Work experience demonstrates practical knowledge and familiarity with industry practices, making it a valuable qualification. Educational background, especially in fields directly related to the job, provides a foundation of theoretical knowledge and specialized training. Specific skills relevant to the position, such as technical proficiency or communication abilities, ensure that candidates can perform the tasks and responsibilities effectively.
By emphasizing these qualifications, businesses can enhance the likelihood of hiring competent individuals who possess the necessary expertise and can contribute to the organization's success. Experience and education provide a strong foundation, while specific skills enable employees to excel in their roles and meet the demands of the job. Additionally, these qualifications help reduce the learning curve and facilitate a smoother integration into the workforce, allowing new employees to contribute quickly and effectively. Overall, prioritizing relevant qualifications in the recruitment process can significantly impact the success of management and business strategy by building a skilled and capable workforce.
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All of the following are unfair claim settlement practices, except:AFailing to attempt in good faith to settle claims promptlyBKnowingly misrepresenting to a claimant the terms, benefits, or advantages of an insurance policyCDenying any element of a claim without explaining in writing the specific reason for the denialDFailing to adopt and implement unreasonable standards to investigate claims properly
Failing to adopt and implement unreasonable standards to investigate claims properly.The Correct options to the question is D.
Unfair claim settlement practices refer to actions that insurance companies engage in that are considered unethical or unfair towards policyholders when settling claims. Let's go through each option to understand why D is the exception.Option A states that failing to attempt in good faith to settle claims promptly is an unfair claim settlement practice. This means that insurance companies should make a genuine effort to settle claims in a timely manner. Failing to do so would be considered unfair.Option B states that knowingly misrepresenting the terms, benefits, or advantages of an insurance policy to a claimant is an unfair claim settlement practice. This means that insurance companies should provide accurate information to policyholders about their policies. Misrepresenting or misleading policyholders would be unfair.
Option C states that denying any element of a claim without explaining in writing the specific reason for the denial is an unfair claim settlement practice. This means that insurance companies should clearly communicate the reasons for denying a claim to policyholders in writing. Denying claims without proper explanation would be unfair.Finally, option D states that failing to adopt and implement unreasonable standards to investigate claims properly is an unfair claim settlement practice. However, this option is the exception, as it mentions "unreasonable" standards. Insurance companies should adopt and implement reasonable standards to investigate claims properly, not unreasonable ones. Therefore, D is the correct answer as it is the only option that is not an unfair claim settlement practice.
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rapidly retiring baby boomers make up only a quarter of the u.s. population, but account for 50 percent of all domestic consumer spending. TRUE or FALSE
The correct answer is: TRUE. The statement is true. Baby boomers, the generation born between 1946 and 1964, are a significant demographic group in the United States.
While they make up only a quarter of the U.S. population, they have a significant impact on consumer spending. Baby boomers have been a large and influential consumer segment for several decades, and as they approach retirement age, they tend to have more disposable income and contribute to a significant portion of domestic consumer spending. Their consumer behavior, preferences, and purchasing power have a substantial influence on various industries, including healthcare, travel, leisure, and housing. Therefore, it is accurate to say that baby boomers account for a significant share, around 50 percent, of all domestic consumer spending.
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financial interests of a cpa’s non-dependent children are the communications between cpa’s and their clients are privileged under federal law.attributed directly to the cpa.
The question brings forth two points of discussion. The first pertains to the financial interests of a CPA’s non-dependent children and the other pertains to whether communications between CPAs and their clients are privileged under federal law.
Let's discuss both of them:Financial interests of a CPA’s non-dependent childrenWhen it comes to the financial interests of a CPA’s non-dependent children, the CPA must ensure that they are not in conflict with their professional responsibilities. This means that the CPA must ensure that their professional services are not influenced by any personal gain or interest, either for themselves or their family members.
This is because it could undermine the independence of the CPA and result in conflicts of interest which could have severe consequences for the CPA and their clients. To avoid this, CPAs must follow the Code of Professional Conduct as established by the American Institute of Certified Public Accountants (AICPA), which requires that they act with integrity and objectivity in all their professional dealings.
Therefore, CPAs must be extremely cautious when providing professional services to their clients and should ensure that they do not violate any ethical, legal, or professional requirements. The importance of confidentiality cannot be overemphasized as it is a critical element in the success of any professional relationship between a CPA and their clients.
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Make Yourself at Home: Ambiguous Expressions Invite New Friends ( L.O.3) To end conversations, North Americans often issue casual invitations to new acquaintances and even virtual strangers, such as Visit me when you come to New York, or Come on over anytime. However, nonnative speakers and visitors may misinterpret such casual remarks. They may embarrass their hosts and suffer disappointment by taking the offhand invitation literally and acting on it. Those interacting across cultures would be wise to avoid using expressions that have multiple meanings. Your Task Assume you are a businessperson engaged in exporting and importing. As such, you are in constant communication with suppliers and customers around the world. In messages sent abroad or in situations with nonnative speakers of English at home, what kinds of ambiguous expressions should you avoid? In teams or individually, list three to five original examples of idioms, slang, acronyms, sports references, abbreviations, jargon, and two-word verbs. Which phrases or behavior could be taken literally by a person from a different culture?
As a businessperson engaged in exporting and importing, one should avoid using ambiguous expressions that could be misinterpreted. Below are three examples of idioms, slang, and two-word verbs to avoid:
1. “Bite the bullet”: This phrase may be used to encourage someone to face a difficult or unpleasant situation.
However, non-native speakers may take it literally.
2. “Break a leg”: This phrase is commonly used to wish someone good luck, particularly before a performance. However, in other cultures, it may be interpreted as a curse.
3. “Hang in there”: This phrase may be used to encourage someone to persevere through a difficult situation. However, non-native speakers may take it literally.These examples of ambiguous expressions could be misinterpreted by non-native speakers. Therefore, it is important to avoid using them when communicating with suppliers and customers around the world.
In conclusion, it is essential to avoid using idioms, slang, acronyms, sports references, abbreviations, jargon, and two-word verbs that could be taken literally by a person from a different culture when communicating with non-native speakers of English at home or abroad.
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The parts of the federal bureaucracy with responsibility for different sectors of the economy, and making and enforcing rules designed to protect the public interest
The parts of the federal bureaucracy with responsibility for different sectors of the economy and making and enforcing rules designed to protect the public interest include various government agencies and departments. Here are some key examples:
Environmental Protection Agency (EPA): The EPA is responsible for protecting human health and the environment. It sets and enforces regulations related to air and water quality, hazardous waste disposal, and pollution control.
Food and Drug Administration (FDA): The FDA regulates and ensures the safety of food, drugs, medical devices, cosmetics, and other products. It establishes standards, conducts inspections, and monitors the marketing and labeling of these products.
Securities and Exchange Commission (SEC): The SEC oversees the securities industry, protecting investors and maintaining fair and efficient markets. It enforces regulations related to securities offerings, trading practices, and financial disclosures.
Federal Communications Commission (FCC): The FCC regulates interstate and international communications in the United States. It oversees telecommunications, broadcasting, and cable industries, ensuring fair competition, protecting consumers, and managing spectrum allocation.
Consumer Financial Protection Bureau (CFPB): The CFPB is responsible for protecting consumers in the financial sector. It regulates and supervises financial institutions, enforces consumer financial laws, and provides educational resources and tools for consumers.
Occupational Safety and Health Administration (OSHA): OSHA sets and enforces workplace safety and health regulations. It aims to ensure safe and healthy working conditions for employees across different industries.
Federal Trade Commission (FTC): The FTC protects consumers from unfair business practices and promotes competition in the marketplace. It enforces antitrust laws, investigates deceptive advertising, and safeguards consumer privacy and data security.
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write a business proposal event company
opening a website for booking party, marriage other events.
start website where you can book party 1. name the websute (neutral) 2. find which restaurant to join. 3. set budget (average). 4.take survey of people what they think about the website.
IT SHOULD BE IN THIS PATTERN PLEASE
1. Introduction
2. Topic
a. Sub topic
b. Sub topic
3. Topic Continuation
4. Conclusion
5. Appendix
6. Reference
Introduction: Opening a website for booking parties, marriages, and other events can be a great business idea, which is why this business proposal event company will focus on starting a website where clients can easily plan, book, and pay for the event packages.
This website is designed to be user-friendly and help customers book events without having to do much planning themselves. The website will have several features that include setting a budget, finding suitable restaurants to hold the event, and allowing clients to take surveys about the website's services.
Name of Website
The website will be called "EventConnect." Our company's mission is to connect people to their dream events. Whether it's a wedding, corporate event, or social gathering, our website will provide clients with the resources they need to plan and execute their events successfully.
Finding a Suitable Restaurant
We will partner with restaurants and other venues to offer clients a wide range of options to choose from when planning their events.
Our website will have a feature that allows customers to search for restaurants based on location, budget, cuisine, and other preferences. We will also negotiate discounted rates with our partner restaurants and pass these savings on to our customers.
Setting a Budget
Our website will have a feature that allows customers to set a budget for their events. This feature will ensure that clients do not overspend when planning their events. In addition, our website will provide clients with a detailed breakdown of expenses, so they know exactly what they are paying for.
Taking Surveys
To ensure that our website meets the needs of our clients, we will regularly take surveys to collect feedback and suggestions. We will use this feedback to improve our services and make our website more user-friendly. ConclusionIn conclusion, EventConnect is a website designed to help people plan and book events easily.
We offer customers a wide range of options to choose from when planning their events, and our user-friendly website makes the planning process seamless. The website also includes features such as setting a budget and taking surveys, making EventConnect a one-stop-shop for event planning.
Appendix
The appendix includes budget projections, market research, and other supporting documents.
Reference
Sinha, S. (2019). Business Proposal for Starting Online Event Management Service. International Journal of Recent Technology and Engineering (IJRTE), 8(1), 4045-4050.
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the park city college, a public university, reported deferred revenues of $425,000 as of july 1, 2021, the first day of its fiscal year. record the following transactions related to tuition and fees and related scholarship allowances for park city college for the year ended june 30, 2022.
The adjusted deferred revenues for New City College as of June 30, 2020, considering the transactions related to student tuition and fees, is $757,000.
Recording the collection of cash:
The cash collected represents the portion of student tuition and fees that has been earned during the fiscal year. We subtract the portion pertaining to the summer session that occurred after June 30, 2020, from the cash collected. The remaining amount represents the revenue earned during the fiscal year.
Cash collected: $9,650,000
Portion pertaining to the summer session after June 30, 2020: $422,000
Revenue earned during the fiscal year: $9,650,000 - $422,000 = $9,228,000
Adjusting the deferred revenues:
The remaining portion of student tuition and fees that pertains to the summer session after June 30, 2020 needs to be recognized as revenue. This amount should be added to the adjusted deferred revenues as of June 30, 2020.
Adjusted deferred revenues as of June 30, 2020: $335,000 (from the previous adjustment)
Portion pertaining to the summer session after June 30, 2020: $422,000
Adjusted deferred revenues after recognizing the summer session revenue: $335,000 + $422,000 = $757,000
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Steve spends his disposable income on meals at restaurants (r) and paperback novels (n). His usual restaurant meal costs $25, and paperback books cost $8. When Steves monthly income is $240, he goes out to eat 8 times and purchases 5 books. When his income rises to $282, he goes out to eat 10 times and purchases 4 books. Calculate the income elasticity for each good, and determine what kind of good it is (inferior, normal necessity, or normal luxury).
Income elasticity refers to the percentage change in demand for a good or service caused by a 1% change in income. In this question, we are asked to calculate the income elasticity for each good and determine what kind of good it is.
Let's begin:When Steve's monthly income is $240, he goes out to eat 8 times and purchases 5 books. Thus, Steve's expenditure on food (r) is $200 (8 x $25) and his expenditure on books (n) is $40 (5 x $8). Steve's total expenditure (T) is the sum of his expenditure on food and books, i.e. T = $200 + $40 = $240.Using this information, we can calculate Steve's income elasticity for each good as follows:
Income elasticity of demand for food (r):Income elasticity = (% change in quantity demanded) / (% change in income)Income elasticity = [(10 - 8) / 8] / [(282 - 240) / 240]Income elasticity = 0.5Thus, the income elasticity for food is 0.5. Since this value is positive, we can conclude that food is a normal good.Income elasticity of demand for books (n):Income elasticity = (% change in quantity demanded) / (% change in income)Income elasticity = [(4 - 5) / 5] / [(282 - 240) / 240]Income elasticity = -1.2Thus, the income elasticity for books is -1.2.
Since this value is negative, we can conclude that books are an inferior good, i.e. Steve purchases fewer books when his income rises.Thus, Steve spends his disposable income on meals at restaurants (r) and paperback novels (n), which are normal and inferior goods respectively.
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Pennsylvania Notary Public Examination
The Pennsylvania Notary Public Examination is a test that individuals in Pennsylvania must pass in order to become a notary public.
Here is a step-by-step breakdown of the examination process:
1. Eligibility: Before taking the examination, you must meet certain eligibility requirements. These requirements may include being at least 18 years old, being a citizen or legal resident of the United States, and being a resident of Pennsylvania or having a place of employment or practice within the state.
2. Application: You will need to complete an application form and submit it along with the required fee to the Pennsylvania Department of State. The application form will ask for your personal information, contact details, and any relevant professional background.
3. Study Materials: Once your application is approved, you will receive study materials from the Department of State. These materials will cover the laws, regulations, and procedures that govern notaries public in Pennsylvania. It is important to review and understand these materials thoroughly before taking the examination.
4. Examination Format: The Pennsylvania Notary Public Examination is a multiple-choice test that is administered by Pearson VUE. The exam consists of 50 questions and you will have 75 minutes to complete it. The questions are designed to assess your knowledge of notary public laws, ethics, and practices.
5. Test Day: On the day of the examination, you will need to bring a valid form of identification, such as a driver's license or passport. Arrive early to the test center to allow enough time for check-in procedures.
6. Scoring and Results: The examination is scored immediately after completion. You will receive a score report indicating whether you passed or failed the examination. If you pass, you will receive a Notary Commission Certificate from the Department of State.
7. Commission and Oath: Once you have passed the examination, you will need to take an oath of office and pay the required fee to receive your notary commission. This commission is valid for a period of four years.
It is important to note that the Pennsylvania Notary Public Examination is just one step in the process of becoming a notary public. Additional requirements, such as a background check and bond, may be necessary. It is advisable to consult the Pennsylvania Department of State for complete information on the requirements and process of becoming a notary public in Pennsylvania.
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Carter Compary reported the following financial nambers foc one of its divisiens for the yes; wersgetotal asstes of 94,210.000, sales of $4,655.000; cost of goods sold of $2,680.000. and operating expenses of $1,502.000. Assume a target income of 93 of average invested assots. Compuie resabal income for the d. Wient Mutiale Chice 3102.300. 517730 $42.570 \$ง9,800 $02.300
the correct option is D. $310,300. Given data: wersgetotal asstes = $94,210,000Sales = $4,655,000Cost of goods sold = $2,680,000Operating expenses = $1,502,000Target income = 93% of average invested assets. To compute the residual income, first, we need to compute the average invested assets as follows:
Average invested assets = wersge total asstes/ 2= $94,210,000/2= $47,105,000Then, we can compute the target income as follows: Target income = 93% * $47,105,000= $43,828,650Then, we can compute the minimum acceptable price (MAP) as follows: MAP = Target income/ Sales= $43,828,650/ $4,655,000= $9.40Then, we can compute the income before interest and taxes (IBIT) as follows :IBIT = Sales - Cost of goods sold - Operating expenses= $4,655,000 - $2,680,000 - $1,502,000= $473,000Finally, we can compute the residual income as follows: Residual income = IBIT - (Average invested assets * Minimum acceptable price)= $473,000 - ($47,105,000 * $9.40)= $310,300
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Your Participation in the Loanable Funds Market Discussion Topic Participate in a discussion with your classmates regarding your participation in the loanable funds market. Review the "EYE on Your Life" caption titled, Your Participation in the Loanable Funds Market, within Section 10.3 in the textbook. Discuss how your expected and disposable future income, after receiving your college degree, may change your saving and investment decisions and transactions in the loanable funds market. Discussion Rubric
After receiving my college degree, my expected and disposable future income will increase. This will have a significant effect on my saving and investment decisions and transactions in the loanable funds market. Firstly, I will have more money to save. With an increase in income, I will have a higher capacity to save for my future financial needs. As such, I may choose to save more and spend less on my current needs.
Additionally, with more disposable income, I will have more resources to invest in the loanable funds market. This means that I may choose to invest more in the loanable funds market and have a higher allocation of my income towards investments in this market. I will be able to take more risks with my investments since I will have more resources at my disposal.
Moreover, since the interest rate is a key determinant in the loanable funds market, the increase in my disposable income may lead to higher interest rates, which would be beneficial for my investment portfolio. I will be able to earn a higher return on my investments in the loanable funds market since I will have more resources to invest.
In conclusion, the increase in my expected and disposable future income will lead to a higher allocation towards savings and investments in the loanable funds market. I will be able to take more risks with my investments and earn a higher return on my investments in this market.
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Explain the cost principle for computing the cost of plant assets ?Plant assets are set apart from other tangible assets by two important features: use in operations and useful lives longer than one period. Plant assets are recorded at cost when purchased. Cost includes all normal and reasonable expenditures necessary to get the asset in place and ready for its intended use. The cost of a lump-sum purchase is allocated among it individual assets.
The cost principle for computing the cost of plant assets states that when plant assets are purchased, they should be recorded at their cost.
The cost principle is an important accounting concept when it comes to plant assets. Plant assets are different from other tangible assets because they are used in operations and have useful lives longer than one accounting period. Examples of plant assets include buildings, machinery, equipment, and vehicles.When a company purchases a plant asset, such as a piece of machinery, it is recorded at its cost. This cost includes not only the purchase price, but also any other expenses that are necessary to get the asset ready for use. These expenses could include transportation costs, installation costs, legal fees, and any other costs directly related to bringing the asset into operation.
For example, if a company purchases a new machine for $10,000 and spends an additional $1,000 to have it delivered and installed, the cost of the machine would be recorded as $11,000.
In cases where multiple assets are purchased together in a lump-sum, the cost is allocated among the individual assets. This means that the total cost of the purchase is divided based on the relative value or fair market value of each asset. This allocation ensures that each asset is recorded at its appropriate cost.For example, if a company purchases a building and a piece of land together for $1,000,000, the cost needs to be allocated between the two assets. If the fair market value of the building is determined to be $800,000 and the fair market value of the land is determined to be $200,000, the cost of the building would be recorded as $800,000 and the cost of the land would be recorded as $200,000.
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Activity-Based Environmental Cost Assignments Shultz Company had the following environmental activities and product information: 1. Environmental activity costs 2. Driver data 1. Calculate the activity rates that will be used to assign environmental costs to products.
Shultz Company needs to consider environmental activity costs and driver data. The activity rates can be determined by dividing the total cost of each environmental activity by the corresponding driver data.
To calculate the activity rates, Shultz Company needs to first identify the environmental activities and their associated costs. These activities can include tasks such as waste disposal, pollution control, or energy consumption. The company should determine the total cost incurred for each environmental activity.
Next, Shultz Company needs to gather driver data, which are the factors that drive or influence the environmental activities. These can include metrics like the number of units produced, machine hours, or direct labor hours. The company should collect data on the specific driver relevant to each environmental activity.
Once the total cost of each environmental activity and the corresponding driver data are determined, the activity rates can be calculated. The activity rate is calculated by dividing the total cost of an environmental activity by the driver data associated with that activity. This rate represents the cost per unit of the driver.
By calculating the activity rates for each environmental activity, Shultz Company can assign environmental costs to its products based on the specific driver data associated with each product. This allows the company to allocate the costs of environmental activities to the products that drive those activities, providing a more accurate representation of the environmental impact and costs incurred by each product.
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Shultz Company needs to consider environmental activity costs and driver data. The activity rates can be determined by dividing the total cost of each environmental activity by the corresponding driver data.
To calculate the activity rates, Shultz Company needs to first identify the environmental activities and their associated costs. These activities can include tasks such as waste disposal, pollution control, or energy consumption. The company should determine the total cost incurred for each environmental activity.
Next, Shultz Company needs to gather driver data, which are the factors that drive or influence the environmental activities. These can include metrics like the number of units produced, machine hours, or direct labor hours. The company should collect data on the specific driver relevant to each environmental activity.
Once the total cost of each environmental activity and the corresponding driver data are determined, the activity rates can be calculated. The activity rate is calculated by dividing the total cost of an environmental activity by the driver data associated with that activity. This rate represents the cost per unit of the driver.
By calculating the activity rates for each environmental activity, Shultz Company can assign environmental costs to its products based on the specific driver data associated with each product. This allows the company to allocate the costs of environmental activities to the products that drive those activities, providing a more accurate representation of the environmental impact and costs incurred by each product.
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What is the noun form of Compete?
The noun form of "compete" is "competition." When we talk about "compete," we are referring to the verb form, which means to strive against someone or something in order to gain an advantage or achieve a goal.
For example, in a race, athletes compete against each other to see who can finish first. On the other hand, the noun "competition" refers to the act or process of competing. It is the name given to the event or situation in which individuals or teams compete against each other.
For instance, in a singing competition, multiple participants showcase their talent and compete against each other to determine who is the best singer. In a business context, companies may engage in fierce competition to gain market share and attract customers.So, in summary, "competition" is the noun form of "compete" and represents the act or process of competing.
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Final Paper Instructions A technical writer may be assigned the task of compiling an emergency plan for a company. A strategic emergency is nem to understand what to do in the case of an emergency. Please think of the current pandemic and write a 1-2 page document outlining a return to work plan after a pandemic. Please include the following areas: 1. How to phase employees back into the workplace 2. Social distancing plan 3. How to handle emergencies in the workplace (employee illness) 4. How to relay the emergency plan to employees Your paper will be due next week in week 12 of the class. Please submit within the week 12 module.
Introduction A technical writer is responsible for creating documents that are clear, concise, and informative. When it comes to compiling an emergency plan for a company, it is essential to understand the steps to take in the event of an emergency.
As the world is currently dealing with a pandemic, it is crucial to have a plan in place for the return to work after the pandemic. This 1-2 page document will outline a return to work plan after the pandemic. It will include the following areas: 1. How to phase employees back into the workplace
2. Social distancing plan
3. How to handle emergencies in the workplace (employee illness)
4. How to relay the emergency plan to employeesPhasing Employees Back into the Workplace After a pandemic, it is important to phase employees back into the workplace gradually. This is to prevent overcrowding and ensure that the workplace is safe for everyone. The following phases are recommended:
Phase 1: Essential Workers Only - Only employees that are essential to the running of the business should return to work. This includes employees that cannot work from home or those that are needed to get the business up and running. This phase should last for two weeks.
Phase 2: Rotating Work Schedule - After the first two weeks, the next phase should include a rotating work schedule. This will allow employees to come back to work but on a rotating schedule. This will allow for social distancing and ensure that the workplace is not overcrowded. This phase should last for two weeks.
Phase 3: Return to Full Schedule - After two weeks of the rotating schedule, the company can then move to a full schedule. This means that all employees will be back to work and will be following the social distancing guidelines.
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Which of the following statements is TRUE about terms of the contract?
Terms are representations before a contract is formed.
All terms of the contract must be express.
Contradictory oral evidence may be admitted even if the contract has been put in writing.
Terms may be implied into the contract by law.
The answer is that the statement "Terms may be implied into the contract by law" is TRUE about terms of the contract.
The terms of the contract refer to the conditions that are accepted by all parties involved in the contract. The following statements have been made in regards to the terms of a contract:
Terms are representations before a contract is formed. This statement is incorrect. Representations are statements that are made to convince someone to enter into a contract. These statements are not binding and do not form a part of the contract.
All terms of the contract must be express. This statement is incorrect. There are two types of terms in a contract: express and implied. Express terms are those that are written in the contract, whereas implied terms are not written, but they are still binding. It's possible for a contract to have both express and implied terms.
Contradictory oral evidence may be admitted even if the contract has been put in writing. This statement is incorrect. If a contract has been put in writing, oral evidence cannot be used to change its terms. This is known as the "parol evidence rule."Terms may be implied into the contract by law. This statement is true. There are certain terms that are implied into every contract as a matter of law. For example, if you hire someone to paint your house, it is implied that they will use paint that is suitable for the job and that they will carry out the work with reasonable care and skill.
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Managerial accounting deals with determining the costs and
profitability of the company's activities.
This is True or False?
The given statement "Managerial accounting deals with determining the costs and profitability of the company's activities" is True because Managerial accounting is a subset of accounting that is concerned with the internal aspects of a company.
Managerial accounting, also known as cost accounting, is primarily concerned with determining the costs and profitability of a company's activities. Managerial accounting is used to provide information to a company's management team to help them make informed business decisions. It aids in the development of budgets, the calculation of product costs, the tracking of expenses, and the identification of areas where a company can reduce its costs.
It differs from financial accounting in that it is only concerned with internal business operations and does not provide information for external parties like investors or creditors. Managerial accounting may also provide detailed reports on a company's activities, allowing managers to make better business decisions, optimize resource usage, and identify problems that need to be addressed quickly. Managerial accounting also helps in the determination of the price of the products.
By calculating the total cost of production, which includes the direct cost of material and labor and the overhead cost, managers can set a competitive price for the product that also covers the cost of production. This, in turn, will contribute to the profitability of the company. Therefore, it can be concluded that Managerial accounting deals with determining the costs and profitability of the company's activities.
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Suppose there are no taxes. Firm ABC has no debt, and firm XYZ has debt of %5,000 on which it pays 10% interest of each year. Both companies have identical projects that generate free cash flows of $5,100 or $5,400 each year. After paying any interest on debt, both companies use all remaining free cash flows to pay dividends each year. a. In the table below, fill in the debt payments for each firm and the dividend payments the equity holders of each firm will receive given each of the two possible levels of free cash flows. b. Suppose you hold 10% of the equity of ABC. What is another portfolio you could hold that would provide the same cashflows? c. Suppose you hold 10% of the equity of XYZ. If you can borrow at , what is an alternative strategy that would provide the same cash flows? Question content area bottom Part 1 a. In the table below, fill in the debt payments for each firm and the dividend payments the equity holders of each firm will receive given each of the two possible levels of free cash flows. (Round all answers to the nearest dollar.) ABC XYZ FCF Debt Payments Equity Dividends Debt Payments Equity Dividends $5,100 $ $ $ $ $5,400 $ $ $ $
Part 1.a)ABC XYZ FCF $5,100 $5,400 Debt Payments $0 $5000*10%=$500 Equity Dividends $5,100 $5,400 Debt Payments $5000*10%=$500 $5000*10%=$500 Equity Dividends $4,600 $4,900
Part 1.b)Since you hold 10% of equity of ABC, and the dividends per year per share will be $5,100, then your dividends will be:0.10*$5,100=$510.Suppose X is the amount invested in ABC and Y is the amount invested in Firm XYZ.
Then, 0.10(X+Y)*$5,100=0.10*($5,400Y).
Solving this, we get:X=0.94Y.Then, the other portfolio will be to invest 94% of your money in Firm XYZ and the remaining 6% in Firm ABC.
Part 1.c)Suppose you hold 10% of the equity of XYZ. Let the borrowings be at a rate of R. Then, the dividend per share per year will be:Dividend=$5,400-($5000*10%)-($5000*R).=$3,400-5000RIf you invest $1 in equity, you will receive a dividend of $0.1.
Since you hold 10% of the equity, your dividend income will be $0.34.In order to achieve the same cash flow, we need to invest some money in the debt of XYZ and some money in the equity. If we borrow B dollars, we have:B+(1-B)0.1=$0.34Solving this equation, we get:B=$0.24.Then, we should invest $0.24 in the debt of XYZ and the remaining $0.76 in the equity of XYZ. Thus, the amount we invest in equity is:0.76/(1-0.10)= $0.84.
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Use the cognitive appraisal theory of emotions to explain how a
consumer may feel the following emotions in different consumption
experiences (scenarios): disgust, anger, anxiety and joy. Use
examples
Cognitive Appraisal Theory explains how a consumer feels and thinks about a situation that causes an emotional response. It can be positive or negative.
Consumers experience different types of emotions such as disgust, anger, anxiety, and joy in different consumption experiences.
Let's explain the emotions using Cognitive Appraisal Theory.
Disgust is a feeling of strong disapproval or revulsion towards something or someone. It occurs when the consumer experiences something unpleasant that goes against their beliefs, values, or norms. In the consumption experience, the consumer will evaluate and perceive a product that is unpleasant, offensive, or repulsive based on their cognitive appraisal. For instance, a customer purchases fast food and finds a hair in their meal.
This experience can trigger disgust and the customer will feel repulsed and refuse to eat at that restaurant.
Anger is a feeling of intense displeasure or hostility towards a product or situation. It occurs when the consumer believes that a situation or product is unjustified or violates their rights. In the consumption experience, a customer may experience anger when a company mistreats or exploits their customer base.
For example, a customer that has been waiting for their order for too long will feel angry.
The cognitive appraisal of the customer will perceive the company's action as unjustified, and this triggers anger.
Anxiety is a feeling of apprehension or fear about the future. It occurs when the consumer experiences uncertainty or lack of control over a situation. In the consumption experience, a customer may experience anxiety when they perceive a product as risky, or they don't know how to use it. For instance, a customer that is purchasing a new product will feel anxious because they are uncertain about the quality and performance of the product.
Joy is a feeling of pleasure or satisfaction that comes from a positive experience. It occurs when the consumer perceives a situation or product as desirable and in line with their beliefs or values.
In the consumption experience, a customer may experience joy when they find a product that meets their needs or when they receive excellent customer service.
For example, a customer that receives a product that exceeds their expectations will feel joyful.
The cognitive appraisal of the customer will perceive the product as desirable and satisfactory.
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Which of the following entities would consider portions of the AICPA Audit and Accounting Guide: Health Care Entities category b authoritative guidance?
a) A business-type government hospital.
b) A not-for-profit hospital.
c) A for-profit hospital.
d) All these answer choices are correct.
d) All these answer choices are correct. The AICPA (American Institute of Certified Public Accountants) Audit and Accounting Guide:
Health Care Entities is considered authoritative guidance for all types of healthcare entities, including business-type government hospitals, not-for-profit hospitals, and for-profit hospitals. This guide provides comprehensive accounting and auditing guidance specific to the healthcare industry, addressing the unique financial reporting issues and considerations relevant to these entities. Regardless of their organizational structure or tax status, all healthcare entities can rely on the AICPA Audit and Accounting Guide: Health Care Entities as a reliable source of authoritative guidance to ensure accurate and consistent financial reporting practices in the healthcare industry.
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name two circumstances in which the carrying amount of property,
plant, and equipment (PP&E) may not be recoverable and should
be tested for impairment
cite from the Accounting codification
According to ASC 360-10-35-21, property, plant, and equipment (PP&E) should be tested for impairment whenever a triggering event occurs, such as an adverse change in legal factors or the business climate, a technological advancement, or a significant decline in performance.
In the following two circumstances, the carrying amount of PP&E may not be recoverable and should be tested for impairment:
1. Significant changes in the business environment or economy that suggest that the PP&E will not be able to generate cash flows that are similar to or greater than those expected. If a firm is in a business where technology is advancing quickly, its PP&E may become outdated in a matter of years.
2. Damage to the physical asset caused by an event or an accident. If a business has been damaged by a natural disaster or a fire, it will need to assess whether the PP&E is still useful or not. Furthermore, if there is damage to the PP&E, the cost of repair will be compared to the asset's carrying value to determine whether an impairment loss has occurred.In summary, whenever the carrying amount of PP&E is not recoverable, such as due to significant changes in the business environment or damage to the physical asset, it should be tested for impairment.
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Which of the following is incorrect?
A. By comparing TATO and FATO, we know the proportion of current
assets
B. Increasing payable payment period indicates better cash
management
C. Decreasing receiva
Increasing the payable payment period does not indicate better cash management. In fact, increasing payable payment period may be an indication of insufficient cash flow or liquidity problems.
Increasing the payable payment period could be a strategy used by the company to manage its cash flow temporarily, but it is not a long-term solution. A company may opt to delay payments to suppliers to preserve its cash, but doing so over an extended period can cause suppliers to stop doing business with the company.
Therefore following statement is incorrect:
"Increasing payable payment period indicates better cash management"
Hence statement C is incorrect.
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