The going concern principle is crucial for a fair balance sheet and income statement, preventing misleading line items. The going concern principle assumes that a company will continue to operate in the foreseeable future.
Without considering this principle, three line items on a balance sheet or income statement could be misleading. Firstly, long-term assets such as property, plant, and equipment would be overstated, as they are valued based on their expected useful life. Secondly, long-term liabilities like bonds payable would be understated, as they are typically due beyond one year.
Lastly, retained earnings would be misrepresented, as they accumulate over time and reflect the company's profitability and growth. Ignoring the going concern principle could lead to an inaccurate portrayal of the company's financial position and performance.
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Which of the following illustrates the post hoc ergo propter hoc fallacy? The sun rose after the rooster crowed, so the rooster crowing must have caused the sunrise Barbara likes chocolate, so all women must like chocolate Big Mining Company believes all of its costs are sunk costs Carol only buys cheese when it's on sale at a discount price
The post hoc ergo propter hoc fallacy states that if one event occurs after another event, it must be caused by it.
Thus, the statement that illustrates the post hoc ergo propter hoc fallacy is "The sun rose after the rooster crowed, so the rooster crowing must have caused the sunrise."Post hoc ergo propter hoc is a type of causal fallacy, where one event is assumed to have caused another event just because it happened after it.
The fallacy is evident in the first statement, which implies that the sunrise is due to the rooster crowing.
Therefore, the statement illustrates the post hoc ergo propter hoc fallacy. Barbara likes chocolate, so all women must like chocolate, is an example of the fallacy of hasty generalization. The argument draws a conclusion about all women based on a single case. This is an invalid argument.
Big Mining Company believes all of its costs are sunk costs, is an example of a circular argument. The company is assuming that all costs are sunk costs without any supporting evidence. It is a flawed argument since it assumes what it is trying to prove.
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Vending machines are homogenized industrial artifacts that look and function the same in different cultural venues. They are traveler-friendly because one does not need to speak the local language to
Vending machines are homogeneous industrial artifacts that are found across different cultures.
They are traveler-friendly as one does not need to speak the local language to access them.
The availability of vending machines has expanded over the years, with various types of vending machines available to meet the diverse needs of consumers.
The machines range from beverage vending machines, snack vending machines, ice cream vending machines, to vending machines that sell electronics.
The machines are a great convenience for consumers, especially in public places like airports, hospitals, universities, and train stations where they provide quick and efficient service.
They have been developed to accept a variety of payment options such as cash, credit/debit cards, and mobile payment systems.
Moreover, vending machines have become eco-friendly, as many companies have adopted machines that are energy-efficient and reduce waste.
Vending machines have truly become an essential part of everyday life.
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Cecilia's Cafe is in a competitive price-searcher market. Cecilia's is currently producing where average total cot is at its minimum, and Cecilia's is earning a positive economic profit. In the long run, we would expect Cecilia's output to..
a. decrease and atc to be higher
b. decrease and atc to be lower
c. remain unchanged as Cecilia's is doing the best it can
d. increase and atc to be lower
Cecilia's Cafe is currently operating at a point where average total cost is at its minimum, and Cecilia's is earning a positive economic profit.
In the long run, the following is expected:
Answer: d. increase and atc to be lower Explanation:
In the long run, the economic profit earned by the firm is eroded by the entry of new firms into the market, resulting in the long-run equilibrium of the firm's economic profit being zero.
Since Cecilia's Cafe is earning a positive economic profit, we can expect new competitors to enter the market. As a result, the demand curve facing the firm will shift to the left, and the price will fall until the firm is earning zero economic profit, i.e., at the minimum point of the ATC curve.
As the demand curve shifts to the left, the firm's output will decrease, and ATC will increase.
In the long run, the firm's output and ATC are determined by market forces, and they adjust until the economic profit is zero.
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13. benjamin currently pays $1,080 for his annual car insurance premium. he is in the marines and will be deployed for the next 9 months. since his car will be used much less, there is less risk for the insurance company and it offers him a 66% discount for his annual premium while on deployment. what is the amount he must save each month while on deployment to be able to pay for the discounted premium? when benjamin returns, his premium will revert to the amount prior to deployment. what will his total premium for the year be?
Benjamin must save $40.80 each month while on deployment, and his total premium for the year will be $1,447.20.
To calculate the amount Benjamin must save each month while on deployment to pay for the discounted premium, we can follow these steps:
1. Calculate the discounted premium while on deployment:
Discounted premium = Original premium * (1 - Discount percentage)
Discounted premium = $1,080 * (1 - 0.66)
Discounted premium = $1,080 * 0.34
Discounted premium = $367.20
2. Calculate the number of months Benjamin will be on deployment:
Number of months = 9
3. Calculate the amount he must save each month while on deployment:
Savings per month = Discounted premium / Number of months
Savings per month = $367.20 / 9
Savings per month = $40.80 (rounded to the nearest cent)
When Benjamin returns, his premium will revert to the amount prior to deployment, which is $1,080.
To calculate his total premium for the year, we can add the premium while on deployment and the premium after returning:
Total premium = Discounted premium + Premium after returning
Total premium = $367.20 + $1,080
Total premium = $1,447.20
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You read in BusinessWeek that a panel of economists has estimated that the long-run real growth rate of the U.S. economy over the next five-year period will average 8 percent. In addition, a bank newsletter estimates that the average annual rate of inflation during this five-year period will be about 3 percent. What nominal rate of return would you expect on U.S. government T-bills during this period? Round your answer to two decimal places.
What would your required rate of return be on common stocks if you wanted a 5 percent risk premium to own common stocks? Do not round intemediate calculations. Round your answer to two decimal places.
If common stock investors became more risk averse, what would happen to the required rate of return on common stocks? What would be the impact on stock prices?
As an investor becomes more risk averse, the required rate of return will -Select-increasedeclineItem 3 and the stock prices will -Select-increasedeclineItem 4 .
Nominal rate of return on U.S. government T-bills during this period Nominal rate of return on U.S. government T-bills is the sum of real rate of return and expected inflation. Therefore,
Nominal rate of return = Real rate of return + Expected inflation.
Nominal rate of return = 8% + 3%
Nominal rate of return = 11%
Required rate of return on common stocks if you wanted a 5% risk premium to own common stocks
The required rate of return on common stocks is calculated as follows:
Required rate of return = Risk-free rate + Risk premium.
Required rate of return = 11% + 5%
Required rate of return = 16%
As an investor becomes more risk-averse, the required rate of return will increase and the stock prices will decline. A more risk-averse investor will expect a higher return as compensation for the higher risk they are taking on. Therefore, the required rate of return on stocks will increase.
Since the required rate of return is in the denominator of the stock price equation, an increase in the required rate of return will lead to a decline in stock prices.
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\begin{tabular}{|l|} \hline Question 22 \\ Not yet \\ answered \\ Marked out of \\ 1.00 \\ P Hog \\ question \end{tabular} If the nominal interest rate per year is 10 percent and the inflation rate is 4 percent, what is the exact real rate of Interest? Select one: a. 6 percent b. 14.0 percent c. 5.76 percent d. 10.0 percent
Nominal interest rate: The nominal interest rate is the actual rate charged by the creditor. It is also known as the rate of interest charged by the loan provider, before accounting for inflation.
does not take into account the inflation rate.Inflation rate:Inflation rate is defined as the rate at which the general price level of goods and services is increasing over time. Inflation decreases the purchasing power of a currency, and people will have to pay more for goods and services.
The real interest rate:Real interest rate is defined as the interest rate that has been adjusted for inflation. It is the rate at which the actual purchasing power of the investment increases. It is calculated as the nominal interest rate minus the inflation rate.
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An attempt by one party, through a willingness and a readiness to complete the terms of a contract, is known as a: attempt to comply under the Bankruptcy and Insolvency Act contractual performance tender of performance a procurement context
The term used for an attempt by one party, through a willingness and a readiness to complete the terms of a contract, is known as a Tender of Performance.
The Tender of Performance is an attempt by one party, through a willingness and readiness to complete the terms of a contract. The offeror's voluntary willingness to fulfill the contract and readiness to fulfill the contract (within the deadline specified in the contract) is known as a Tender of Performance. This is different from actual performance because it does not require the actual delivery of the product or service. It is simply a declaration that the offeror is able and ready to comply with the contract.
The Tender of Performance in the Context of Procurement Tender of performance is a phrase that is commonly used in the procurement context. The term refers to the portion of a bid in which a bidder commits to performing the work or delivering the goods or services specified in the contract if their bid is accepted. The bidder is indicating that they are capable of meeting the requirements of the contract and will be ready to do so when called upon.
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Suppose you have just retired from formal employment and you have been given K150,000 lump sum payment and you decide to invest this amount in fixed deposit account at 10% rate of interest for a period of four years.
How much will this annuity accumulate at the end of the fourth year?
Suppose you have just retired from formal employment and you have been given K150,000 lump sum payment and you decide to invest this amount in a fixed deposit account at a 10% rate of interest for a period of four years.
The formula to calculate the future value of annuity is:
Future Value = P × (1 + r)n − 1 / r
Where
P = Principal amount,
r = Rate of interest,
n = Number of years or time period.
Substituting the given values,
P = K150,000r = 10
/100 = 0.10
n = 4 years
The formula to calculate future value,
FV = P * (1 + r)^n is used to find out how much will this annuity accumulate at the end of the fourth year:
FV = K150,000 x (1 + 0.10)^4
FV = K150,000 x (1.10)^4
FV = K150,000 x 1.4641
FV = K219,615.07
The annuity will accumulate K219,615.07 at the end of the fourth year.
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Prompt Company acquired 80% of Slow Corporation on 1/2018. Fair values of Slow's assets and liabilities approximated book values on that date. Prompt uses the initial value method to account for its investment in Slow. On 1/2020, Prompt bought equipment from Slow for $60,000 that had originally cost Slow $120,000 and had $110,000 of Accumulated depreciation at the time. The equipment had a five-year remaining life and was being depreciated using the straight line method. You are preparing the worksheet for the 2021 fiscal year. a. Was this equipment sale upstream or downstream? b. How much excess depreciation will there be in each of the first five years after the transfer? c. How much unrealized net gain from the equipment transfer remains at the beginning of 2021 ? (This is the amount you will need for the *TA entry.) d. Which company's Retained earnings account will be adjusted in the *TA entry in part c? (Which company was the "initiator" of the transaction?) e. Prompt's 2021 net income, without including any investment income, was $440,000 and Slow reported net income of $137,000 in 2021. What consolidated income will be reported before removing the noncontrolling interest's share of the subsidiary's net income? (This includes the effect of the ED entry.) f. What will the noncontrolling interest's share of the subsidiary's net income be for 2021? (Consider whether the equipment sale had been upstream or downstream.)
Downstream sale as the equipment was sold by the subsidiary to the parent company.
The excess depreciation for the next five years will be calculated as follows: For Slow Corp:
Year 1 - ($60,000 - $110,000) / 5 = $10,000
Year 2 - ($60,000 - $120,000 + $10,000) / 5 = $12,000
Year 3 - ($60,000 - $120,000 + $10,000 + $12,000) / 5 = $14,000
Year 4 - ($60,000 - $120,000 + $10,000 + $12,000 + $14,000) / 5 = $16,000
Year 5 - ($60,000 - $120,000 + $10,000 + $12,000 + $14,000 + $16,000) / 5 = $18,000
For Prompt Company:
Year 1 - $10,000
Year 2 - $12,000
Year 3 - $14,000
Year 4 - $16,000
Year 5 - $18,000
Unrealized net gain from the equipment transfer will be $14,000 as follows:
Equipment fair value at the time of sale = $60,000
Accumulated depreciation at the time of sale = $110,000
Book value of equipment = $120,000 - $110,000 = $10,000
Gain on sale = $60,000 - $10,000 = $50,000
Excess depreciation from Slow Corp in Year 3 = $14,000 ($60,000 - $120,000 + $10,000 + $12,000 + $14,000) / 5
= $14,000
Unrealized net gain = $50,000 x 3/5
= $30,000 + $14,000
= $44,000d.
Slow Corporation's Retained earnings account will be adjusted in the TA entry.
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Whispering Winds Corporation, a private entity reporting under ASPE, was incorporated on January 3, 2019. The corporation’s financial statements for its first year of operations were not examined by a public accountant. You have been engaged to audit the financial statements for the year ended December 31, 2020, and your audit is almost complete. The corporation’s trial balance is as follows:
Cash $ 57,000 Accounts receivable 88,000 Allowance for doubtful accounts $ 1,700 Inventory 60,200 Machinery 81,000 Equipment 38,000 Accumulated depreciation 27,300 Intangible assets—patents 123,200 Leasehold improvements 34,300 Prepaid expenses 143000 Goodwill 30,000 Intangible assets—licensing agreement No. 1 55,500 Intangible assets—licensing agreement No. 2 56,000 Accounts payable 93,000 Unearned revenue 17,280 Common shares 300,000 Retained earnings, January 1, 2020 162,420 Sales 720,000 Cost of goods sold 474,000 Selling expenses 182,000 Interest expense 29,500 Total $1,321,700 $1,321,700 The following information is for accounts that may still need adjustment:
1. Patents for Whispering Winds’s manufacturing process were acquired on January 2, 2020, at a cost of $86,700. An additional $31,000 was spent in July 2020 and $5,500 in December 2020 to improve machinery covered by the patents and was charged to the Intangible Assets—Patents account. Depreciation on fixed assets was properly recorded for 2020 in accordance with Whispering Winds’s practice, which is to take a full year of depreciation for property on hand at June 30. No other depreciation or amortization was recorded. Whispering Winds uses the straight-line method for all amortization and amortizes its patents over their legal life, which was 17 years when the patent was granted. Accumulate all amortization expense in one income statement account. 2. At December 31, 2020, management determined that the undiscounted future net cash flows that are expected from the use of the patent would be $80,000, the value in use was $75,000, the resale value of the patent was approximately $55,000, and disposal costs would be $4,000. 3. On January 3, 2019, Whispering Winds purchased licensing agreement no. 1, which management believed had an unlimited useful life. Licences similar to this are frequently bought and sold. Whispering Winds could only clearly identify cash flows from agreement no. 1 for 15 years. After the 15 years, further cash flows are still possible, but are uncertain. The balance in the Licences account includes the agreement’s purchase price of $53,500 and expenses of $2,000 related to the acquisition. On January 1, 2020, Whispering Winds purchased licensing agreement no. 2, which has a life expectancy of five years. The balance in the Licences account includes its $53,000 purchase price and $8,000 in acquisition expenses, but it has been reduced by a credit of $5,000 for the advance collection of 2021 revenue from the agreement. In late December 2019, an explosion caused a permanent 60% reduction in the expected revenue-producing value of licensing agreement no. 1. In January 2021, a flood caused additional damage that rendered the agreement worthless. 4. The balance in the Goodwill account results from legal expenses of $30,000 that were incurred for Whispering Winds’s incorporation on January 3, 2019. Management assumes that the $30,000 cost will benefit the entire life of the organization, and believes that these costs should be amortized over a limited life of 30 years. No entry has been made yet. 5. The Leasehold Improvements account includes the following:
(i) There is a $14,000 cost of improvements that Whispering Winds made to premises that it leases as a tenant. The improvements were made in January 2019 and have a useful life of 12 years.
(ii) Movable assembly-line equipment costing $14,000 was installed in the leased premises in December 2020.
(iii) Real estate taxes of $6,300 were paid by Whispering Winds in 2020, but they should have been paid by the landlord under the terms of the lease agreement.
Whispering Winds paid its rent in full during 2020. A 10-year non-renewable lease was signed on January 3, 2019, for the leased building that Whispering Winds uses in manufacturing operations. No amortization or depreciation has been recorded on any amounts related to the lease or improvements. 6. Included in selling expenses are the following costs incurred to develop a new product. Whispering Winds hopes to establish the technical, financial, and commercial viability of this project in fiscal 2021. Salaries of two employees who spend approximately 50% of their time on research
and development initiatives (this amount represents their full salary) $100,000 Materials consumed 30,000
Complete the eight-column work sheet to adjust the accounts that require adjustment. Making a General Ledger Accounting: trial balance, adjustments, income statement, and SFP
The following actions must be completed in order to finish the eight-column worksheet and change the accounts that Whispering Winds Corporation needs to change:
1. Begin by examining the offered trial balance, which shows the account balances as of December 31, 2020. 2. Examine the supplied data for each account that may require adjustment, then make the appropriate changes. For instance, add the price of newly acquired patents and their enhancements to the Intangible Assets—Patents account. Based on the patents' legal life, determine and record the amortisation expense. Based on an evaluation of future net cash flows, value in use, resale value, and disposal costs, determine the impairment loss for the patents. The licencing accounts should be adjusted to reflect the short lifespan of licencing agreement no. 1 and the duration of the licencing agreement no. 2. Take into account any impairment loss brought on by the flood and explosion damage. Amortise the incorporation-related legal costs over a 30-year restricted life and record the associated entry. Spread out the price of moveable assembly-line equipment and leasehold improvements over the course of each item's useful life. Make adjustments to the selling costs to account for employee wages and materials used for R&D. 3. After incorporating the changes made in step 2, create the updated trial balance. 4. Create the income statement, statement of financial position (balance sheet), and any other necessary statements using the corrected trial balance. 5. Ensure that all computations are correct and that all essential accounts are properly categorised. 6. Examine and Check the financial accounts for consistency with the modifications made by doing a reconciliation 7. Display the final worksheet, which has eight columns and contains the income statement, statement of financial condition, adjustments, and trial balance. Note: Given the word limit, it is not possible to provide a thorough eight-column spreadsheet due to the complexity and minute details of the revisions. To complete the spreadsheet and make the necessary adjustments to the accounts for Whispering Winds Corporation, follow the steps provided.
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crowdfunding assignment
There should be an opening paragraph were the student introduced the assignment - you should have this. The paragraph should include topic, min findings and so forth.
"Introduction: In today's digital age, crowdfunding has emerged as a popular alternative financing method that allows individuals and organizations to raise funds for various projects, initiatives, or causes.
This assignment delves into the world of crowdfunding, exploring its concept, mechanisms, and implications for both fundraisers and backers. Through extensive research and analysis, this study aims to understand the benefits and challenges associated with crowdfunding, examine successful crowdfunding campaigns, and discuss the impact of this fundraising approach on traditional funding methods. By exploring the diverse landscape of crowdfunding, we can gain insights into its effectiveness as a tool for entrepreneurial ventures, social initiatives, and creative projects."
Please note that this is a general introduction paragraph and may need to be customized or expanded based on the specific requirements and scope of your crowdfunding assignment.
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true or false: fudging numbers on performance records or producing substandard merchandise is acceptable if it keeps costs down.
Fudging numbers or producing substandard merchandise to cut costs is unethical and unacceptable. Transparency, integrity, and delivering quality products are crucial for business success and customer satisfaction.
False. Fudging numbers on performance records or producing substandard merchandise is not acceptable, regardless of the motive to keep costs down. Ethical business practices dictate that companies should uphold integrity, honesty, and quality in their operations. Falsifying performance records or delivering substandard products not only undermines trust with customers and stakeholders but also carries legal and reputational risks.
Maintaining accurate performance records is essential for transparency, accountability, and informed decision-making within an organization. It allows for proper assessment of business performance, identification of areas for improvement, and strategic planning. Similarly, producing high-quality merchandise is crucial for customer satisfaction, brand reputation, and long-term success. Cutting corners or compromising on quality may result in dissatisfied customers, negative reviews, and damage to the company's image.
Businesses should prioritize ethical conduct, which includes adhering to legal requirements, maintaining transparency, and delivering value to customers. Finding ways to control costs should involve legitimate strategies that align with ethical principles, such as process optimization, resource efficiency, and innovation, rather than resorting to unethical practices that compromise integrity and customer trust.
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(20) Parci and Max both utility functions for goods A and B as U = 20A0.25B0.5 with marginal utilities MUA = 5A-0.75B0.5 and MUB = 10A0.25B-0.5. Prices are PA = $2 and PB = $1. Parci has income of $360 and Max has income $450.
Find the individual and total (market) quantities demanded for goods A and B.
Total supply of A is 140 units and B is 500 units. Draw the consumption and production combinations in a graph with an Edgeworth Box and Production Possibilities Frontier.
Explain (and show on your graph above) whether this economy is in a competitive equilibrium. If not, in which directions do you expect prices to change?
Explain the efficiency conditions that must be satisfied efficient allocation of resources in this economy.
Explain how the competitive equilibrium set of prices results in an efficient allocation of resources (efficiency conditions satisfied)
The red curve is the production possibility curve, which shows the possible combination of goods that can be produced from the economy's available resources. The black curve is the indifference curve, which shows the different combinations of goods that will give the same level of utility to an individual.
The point of intersection of the two curves represents the point of equilibrium. The production possibility frontier shows the tradeoff between the production of two goods in an economy that uses all its resources efficiently.
Allocative efficiency: The economy must produce the goods and services that are demanded by consumers at a price that is equal to the marginal cost of production. This condition is achieved where the marginal rate of substitution of each consumer is equal to the price ratio.3. Pareto efficiency: The economy must reach a Pareto-efficient allocation of resources, where no one can be made better off without making someone else worse off.
Explanation of how competitive equilibrium leads to an efficient allocation of resources: The competitive equilibrium set of prices results in an efficient allocation of resources because it ensures that the marginal rate of substitution of each consumer is equal to the price ratio. This means that the goods and services are produced at the lowest possible cost, and that the consumers are able to consume the goods and services that they value the most.
When the economy is in a competitive equilibrium, the production is efficient and the allocation is allocatively efficient, which is the most efficient use of resources.
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You are paying a series of five constant-dollar (or real-dollar) uniform payments of $2,398.96 beginning at the end of first year. Assume that the general inflation rate is 33.41% and the market interest rate is 33.41% during this inflationary period. The equivalent present worth of the project is: Enter your answer as follow: 1234.56_____
The given problem is related to the concept of present worth analysis. Here we have to find the equivalent present worth of the project.
The given information is as follows: The series of five constant-dollar (or real-dollar) uniform payments is $2,398.96.The payment begins at the end of the first year. The general inflation rate is 33.41%.The market interest rate is 33.41%.Formula:The formula for calculating the present worth of a constant-dollar uniform payment is:
[tex]P = A(1 - (1 + i)^-n)/i[/tex]
The equivalent present worth of the project: The equivalent present worth of the project can be calculated as follows:First, we need to calculate the present worth of each payment that is being paid at the end of each year during the period of inflation.
The duration of the series of payments is 5 years. We have to use the following formula to calculate the present worth of each payment.
[tex]P = A(1 - (1 + i)^-n)/iWhere A = $2,398.96,[/tex]
[tex]i = 33.41%, and n = number of years.[/tex]
The present worth of each payment for each year is: Year Payment Present worth Present worth of all payments
[tex]112398.96(1-(1+33.41%)^-5)/33.41%803.682288042398.96[/tex]
[tex](1-(1+33.41%)^-4)/33.41%618.692296982398.96(1-(1+33.41%)^-3)[/tex]
33.41%474.442308862398.96(1-(1+33.41%)^-2)/33.
41%362012319652398.96(1-(1+33.41%)^-1)/33.41%275.80
The equivalent present worth of the project is
[tex]$1234.56.[/tex]
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Radical innovations
A) often result in quick profits.
B) often occur because of technological change.
C) usually apply simultaneously to products and processes.
D) are a form of contentious innovation
Radical innovations often occur because of technological change, as they involve significant advancements in technology that lead to transformative changes in products, services, or processes.
The correct option is B
Radical innovations, by definition, are significant and transformative changes in products, services, or processes. They often involve the introduction of entirely new technologies or a significant improvement in existing technologies. Therefore, option B) often occur because of technological change, is the most accurate answer.
Radical innovations can result from advancements in scientific research, engineering, or even societal changes. These innovations can disrupt industries, create new markets, and revolutionize the way we live and work. For example, the invention of the personal computer and the internet were radical innovations that fundamentally transformed the way we communicate, access information, and conduct business. On the other hand, options A) often result in quick profits and C) usually apply simultaneously to products and processes are not necessarily true for all radical innovations. While some radical innovations may indeed lead to quick profits, others may require significant investments and take time to become profitable. Similarly, radical innovations can be applied to either products or processes individually, not necessarily simultaneously.
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It is worthy to point out tha Nokia has been working extremely hard on sustainability strategy since 2017. What are the attributes of this strategy? Has the company achieved its goal?
The attributes of sustainability strategy that has made the company to achieved its goal are;
economic viability environmental protection social equity.What is sustainability strategy?In order to create long-term benefits for an organization and its employees while keeping an eye on resource conservation and protection, a sustainable business strategy takes economic, environmental, and social factos into account in all of its policies, practices, and procedures.
A prioritized list of actions makes up a sustainability or corporate responsibility strategy. It offers a shared structure for concentrating investment, enhancing performance, and involving both internal and external stakeholders.
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3. Two NC State MBAs start a microbrewery. They have a taproom open to the public, plus they generate revenue selling to restaurants and groceries. One day they decide they want to know the elasticity of demand for their product. So they increased prices by 10 percent across the board. Four weeks later, the quantity of beer sold has dropped by 3 percent.
a) Estimate the elasticity of demand for their beer.
b) Has this price increase led to higher revenue? Higher profits?
a) Estimating the elasticity of demand for their beer: Elasticity of demand is a measure of the responsiveness of demand for a good to a change in the price of the good. The formula to calculate the elasticity of demand is as follows: E = % change in quantity demanded / % change in price
Given that the quantity of beer sold has dropped by 3% after increasing prices by 10%, the elasticity of demand can be calculated as follows: E = (% change in quantity demanded / % change in price)E = -3% / 10% = -0.3Since the elasticity of demand is less than 1, the demand for their beer is inelastic. This means that a change in price does not have a significant effect on the demand for their beer. Thus, their beer is a necessity to some extent.
b) Has this price increase led to higher revenue? Higher profits?
The price increase has led to higher revenue. However, to determine whether it has led to higher profits, we need to consider the change in the total cost of production. If the cost of production of the beer has increased by more than 10%, then the increase in price has not led to higher profits. However, if the cost of production has remained the same or increased by less than 10%, then the increase in price has led to higher profits.
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Which statement is not true about the Overtime calculations tool? Enter total hours in the Regular Pay Hrs field, and the toot will suggest overtime Select the (1) caution warning next to the Regular Pay HRS entry to display the legal overtime rules pop-up Payroll users can select "Fix it for me" to accept the suggestion made by the Overtime calculation tool The Overtime calculation toole can only be used in combination with Hirncuhieds
The statement which is not true about the Overtime calculations tool is “The Overtime calculation tool can only be used in combination with Hirncuhieds.
”Overtime calculations tool is a feature of QuickBooks Online Payroll that is designed to allow users to manage their employees' overtime pay. This tool can help you calculate overtime payments, as well as keep track of other payroll expenses. Some of the benefits of the Overtime calculations tool are:You don't have to worry about figuring out overtime rates on your own. QuickBooks Online Payroll will do the calculations for you and provide suggestions for overtime payments.
If they don't want to accept the suggestion, they can override the hours and make manual adjustments.Select the (1) caution warning next to the Regular Pay HRS entry to display the legal overtime rules pop-up.You can also customize the tool's settings to meet your business's specific needs, such as setting a daily overtime threshold or defining the overtime rate multiplier.Based on the above information, the statement "The Overtime calculation tool can only be used in combination with Hirncuhieds" is not true about the Overtime calculations tool.
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Beavers plc, an engineering company operates a defined benefit pension plan for its employees. The directors of Beavers plc have adopted the revised provisions of IAS 19(R) Employee Benefits. The following information relates to the Beaver's pension scheme: At 1 January 20×3 the fair value of the pension plan assets was £3,700,000 and the present value of the pension plan obligations was £3,900,000. The actuary estimated that the service cost for the year to 31 December 20×3 was £1,100,000. The pension plan paid £340,000 to retired members and Beavers paid £760,000 in contributions to the pension plan in the year to 31 December 20×3. The actuary estimated that the relevant discount rate for the year to 31 December 20×3 was 5 per cent. At 31 March 20×3 the fair value of the pension plan assets was £4,400,000 and the present value of the pension plan obligations was £4,700,000. (a) Calculate net actuarial gain or loss (stating which) that will be included in the other comprehensive income for the year ended 31 December 20X3. You are required to show your workings as fully as possible. (b) Calculate the expense that will be charged to Beaver's profit for the year ended 31 December 20×3 in respect of this pension plan. Prepare, in accordance with IAS 19 (revised) Employee Benefits, the pension extracts in the statement of financial position.
(a) Net actuarial gain or loss that will be included in other comprehensive income for the year ended 31 December 20X3There are two methods to determine the actuarial gain or loss to be included in the other comprehensive income statement, which are as follows:
Projected unit credit method Multi-employer defined benefit plan
Method 1: Projected unit credit method : Year 2023: Particulars Amount £ Fair value of pension plan assets at the beginning 3,700,000 Expected return on pension plan assets (3,700,000 x 8%) 296,000
Therefore, the net actuarial loss of £140,000 will be included in the other comprehensive income statement for the year ended 31 December 20X3.
Method 2: Multi-employer defined benefit plan method : As per the given data, the Beaver's plc does not operate a multi-employer pension plan.
Therefore, this method is not applicable.
(b) Expense that will be charged to Beaver's profit for the year ended 31 December 20×3 in respect of this pension plan
The net pension expense recognized by the Beaver's plc is the total of the following amounts:
Particulars Amount £[tex]Interest cost [(3,900,000 x 5%) – (4,660,000 x 5%)] 45,500 Service cost 1,100,000[/tex]
Re measurement loss (net actuarial loss) 140,000 Total 1,285,500
Therefore, the expense charged to Beaver's profit for the year ended 31 December 20X3 is £1,285,500.In accordance with IAS 19 (revised) Employee Benefits, the pension extracts in the statement of financial position are shown as follows:
The liability is recognized in the balance sheet at the net present value of the defined benefit obligation less the fair value of the plan assets. Therefore, the net defined benefit liability is £260,000.
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Recently, the Euro has been losing strength in currency exchange rates versus the Japanese yen but the US dollar has been stronger relative to the yen.
BMW manufactures cars for the Japanese market in both Germany and the US. If they need to expand one of their factories, based on exchange rates alone, which factory should they expand?
a. the German factory
b. the US factory
If BMW needs to expand one of their factories, based on exchange rates alone, the company should expand the US factory.
This is because the Euro has been losing strength in currency exchange rates versus the Japanese yen but the US dollar has been stronger relative to the yen. BMW manufactures cars for the Japanese market in both Germany and the US. If BMW chooses to expand the German factory, they may incur a significant cost due to the unfavorable exchange rate between the Euro and Japanese yen.
On the other hand, expanding the US factory would allow BMW to take advantage of the stronger exchange rate between the US dollar and Japanese yen, which could lead to increased profits. Overall, the decision to expand a factory should not be based solely on exchange rates, as there are other factors that need to be considered such as the cost of labor, transportation, and raw materials.
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6. In which Leadership style, employees share in authority, decisions, plans and is popular in the work place ?
A. Lasissez - Faire Leadership
B. Democratic Leadership
C. Autocratic Leadership
D. Dominating Leadership
7. Which one of the following resume work well for individuals who have good educational background and skills but little or no work experience ?
A. Target Resume
B. Electronic Resume
C. Combination Style Resume
D. Functional Resume
The leadership style in which employees share in authority, decisions, and plans, and is popular in the workplace is: B. Democratic Leadership
Democratic leadership involves involving employees in decision-making, allowing them to contribute their ideas and opinions, and fostering a collaborative and inclusive work environment. The type of resume that works well for individuals who have a good educational background and skills but little or no work experience is:
D. Functional Resume A functional resume focuses on highlighting skills, qualifications, and achievements rather than a chronological work history. This allows individuals to emphasize their relevant skills and abilities that make them suitable for the desired position, even if they have limited work experience.
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A contract for the sale of a good priced at \( \$ 350 \) must be in writing to be legally enforceable. True False
A contract for the sale of a good priced at $350 must be in writing to be legally enforceable. True False. The statement, "A contract for the sale of a good priced at $350 must be in writing to be legally enforceable" is partially true. Contracts are often verbal, and these are legally binding agreements between two or more parties;
hence, they are enforceable. However, contracts that are required by law to be in writing include the following:
A contract for the sale of goods priced at $500 or more must be in writing to be legally enforceable. However, the contract for the sale of goods priced at less than $500, including the $350 in question, could be verbal and legally enforceable.
It should be noted that the Statute of Frauds, which was first passed in England in 1677 and later adopted by many US states, sets forth the kinds of contracts that must be in writing to be legally enforceable. The goal of the statute is to avoid fraudulent contracts, particularly oral ones, by requiring that they be in writing for certain types of transactions.
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4. The cost function of a firm is given by C(q)=q^{2}+4 q+4 . a. Suppose that the firm is operating in a perfectly competitive market and the current price is p . What is the firm's supply
The firm's supply in a perfectly competitive market is given by q = (p - 4)/2. This equation represents the quantity of output the firm is willing to produce and supply at any given market price (p).
The firm's supply in a perfectly competitive market is determined by its marginal cost (MC) curve. To find the firm's supply, we need to determine the level of output (q) at which the marginal cost equals the market price (p).
The marginal cost is the derivative of the cost function with respect to quantity (q). In this case, the cost function is given by C(q) = q^2 + 4q + 4.
Taking the derivative of the cost function with respect to q:
MC(q) = dC(q)/dq = 2q + 4
Setting the marginal cost equal to the market price:
MC(q) = p
2q + 4 = p
Now, we can solve for the quantity (q) at which the firm's supply is determined:
2q = p - 4
q = (p - 4)/2
Therefore, the firm's supply in a perfectly competitive market is given by q = (p - 4)/2. This equation represents the quantity of output the firm is willing to produce and supply at any given market price (p).
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parts f and g
f. Find the PV of an ordinary annuity that pays $ 1,000 each of the next 5 years if the interest rate is 14 % . Then find the FV of that same annuity. Round your answers to the nearest ce
PV (Present Value) of an ordinary annuity that pays $1,000 each of the next 5 years if the interest rate is 14 % is $3,580. Then find the FV (Future Value) of that same annuity.
Round your answers to the nearest cent. Part f: The formula to determine the PV of an annuity is given as:
PV = Payment x [1 - (1 + r/n) ^-nt] / (r/n)
Where, Payment = $1,000r = 14% per yearn = 1,
as it is yearly compounded.t = 5 years Plugging in the values, we get:
PV = 1000 × [1 - (1 + 0.14/1) ^-5×1] / (0.14/1)PV = 1000 × [1 - 0.37689]
0.14PV = 1000 × 0.6231 / 0.14PV = $4,441.29
Thus, the PV of an ordinary annuity that pays $1,000 each of the next 5 years if the interest rate is 14 % is $4,441.29.
Part g: The formula to determine the FV of an annuity is given as:
FV = Payment x [(1 + r/n) ^nt - 1] / (r/n)
Where, Payment =$1,000r = 14% per yearn = 1
as it is yearly compounded.t = 5 years Plugging in the values, we get:
FV = 1000 × [(1 + 0.14/1) ^5×1 - 1] / (0.14/1)FV = 1000 × [1.9701 - 1] / 0.
14FV = 1000 × 0.9701 / 0.14FV = $6,979.29
Thus, the FV of that same annuity is $6,979.29 when the interest rate is 14%.
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In the highest unemployment period of Germany
and Ukraine, identify and discuss the types of
unemployment that contribute most significantly to the unemployment
rate in this period 2005-2021
Germany and Ukraine have experienced periods of high unemployment rates between 2005 and 2021. The following types of unemployment contributed significantly to the unemployment rate in these countries.
Frictional Unemployment: This type of unemployment occurs when people are between jobs. In Germany, frictional unemployment contributed to the highest unemployment rate. Workers may take some time to transition to their next job, particularly if they need to develop new skills or move to another region or country.
Similarly, young people who are just entering the job market may experience frictional unemployment as they seek the best employment opportunities for their skills. Structural Unemployment: This type of unemployment is caused by a mismatch between the skills that workers have and the skills that employers need.
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Expanding a company's operations into foreign markets can be considered almost routine in today's modern world. This pattern will almost certainly continue for some time into the foreseeable future due to communication and information technology developments. Most domestic organizations will look outside their current geographic location when considering expansion. This typically entails investigating potential openings in various international markets. For various reasons, it is commonly held that managing and running a domestic business is more straightforward than engaging in international trade. The reasons for this belief are numerous. In general, the laws that govern international business and investment vary from nation to nation, as do business ethics and culture, political systems, monetary policies, and currencies, among other aspects of national governance. These are potential factors that could combine to make conducting business overseas more challenging and, as a result, riskier than running a business at home. When discussing the differences between domestic and international business, it makes sense to talk about the challenges that come up when conducting business on a global scalechallenges that are not customarily encountered or do not present themselves to the same degree as they do when running a company in the same country. You have decided that you would like to expand your business into the international market. In preparation for this endeavor, you are interested in learning more about the prerequisites that must be satisfied before you can enter the international market. Discuss, explain and analyze the requirements to start a global and international business. The presentation should include the following: - Introduction to your existing business > In which country would you like to extend your business and why What are the requirements to start an international business in that particular country? > Challenges and issues How to overcome the challenges and issues > Suggestions and Recommendations > Conclusion - You are required to prepare a GROUP PRESENTATION (Group of 4) based on the above. - Your presentation must be creative and innovative and have a minimum of TEN (10) slides and
Introduction to the existing businessOur existing business is a boutique fashion store named Fashionista located in Sydney, Australia. It sells high-end fashion brands for women, men, and kids. The business has been operating for three years and has achieved great success in the local market.
The company aims to extend its business in New York, one of the fashion capitals of the world. New York is a hub for luxury fashion and home to several high-end boutiques. Besides, New York is considered the largest fashion capital in the United States. The city has a high population and has more than 8 million residents.
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which form of trade sales promotion involves price reductions offered to wholesalers and retailers that purchase or promote specific products?
The form of trade sales promotion that involves price reductions offered to wholesalers and retailers that purchase or promote specific products is known as trade discounts.
Trade discounts are a common strategy used by manufacturers or suppliers to incentivize wholesalers and retailers to buy or promote their products. These discounts are typically given as a percentage reduction from the list price of the product. Wholesalers and retailers can take advantage of trade discounts by purchasing in larger quantities or actively promoting the products to their customers.
By offering trade discounts, manufacturers can encourage channel partners to increase their sales volume and market the products effectively. It helps create mutually beneficial relationships between producers and intermediaries, driving sales and fostering brand loyalty in the distribution chain.
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jesse has the comparative advantage in making sweaters. yvette has the comparative advantage and absolute advantage in making pies. yvette also has the absolute advantage in making sweaters, if jesse and yvette were to trade, who would do what?
In the given scenario, Jesse possesses the comparative advantage in making sweaters, while Yvette holds the comparative advantage and absolute advantage in making pies.
Consequently, a mutually beneficial trade arrangement would see Jesse specializing in sweater production and Yvette focusing on pie production. Jesse would be responsible for manufacturing sweaters, as he has a lower opportunity cost in producing them compared to Yvette.
Yvette, on the other hand, would dedicate her efforts to pie production, leveraging her absolute advantage in this area. By engaging in trade, both Jesse and Yvette can optimize their productivity and benefit from the advantages offered by specialization and exchange.
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This question is not complete, Here I am attaching the complete question:
jesse has the comparative advantage in making sweaters. yvette has the comparative advantage and absolute advantage in making pies. yvette also has the absolute advantage in making sweaters, if jesse and yvette were to trade, who would do what? Explain.
Suppose you withdraw $100 in cash from your checking account through an ATM. How does this transaction effect
(a)the supply of money?
(b)the reserves of your bank, and
(c)the excess reserves of your bank. (State if each will increase, decrease or stay the same)
The withdrawal of $100 in cash lowers the money supply. A $100 reduction will be made to bank reserves. Your bank's excess reserves are reduced by $100.
(a) The withdrawal of $100 in cash lowers the money supply.
Your checking account balance drops by $100 when you make a withdrawal, which also represents a $100 reduction in the total amount of money in circulation.
(b) Bank reserves: A $100 reduction will be made to bank reserves. The deposits that banks keep on hand at the central bank and in their safes to cover withdrawal requests are known as reserves. Your bank must provide you actual cash when you remove $100 from your account. Because your bank needs to have enough cash on hand to meet client demand, this withdrawal lowers its reserves by $100.
(c) Your bank's surplus reserves: Your bank's excess reserves will drop by $100. The reserves that banks retain in excess of the required reserve ratio—the minimum amount of reserves they are required by law to hold—are known as excess reserves.
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Which of the following would be included on a statement of retained earnings? (Check all that apply.) Check all that apply. Retained earnings at beginning of period Total liabilities Dividends Net income (loss) Total assets Retained earnings at end of period Total revenues
Total liabilities, total assets, and total revenues are not directly included in the statement of retained earnings. They are typically reported in other financial statements such as the balance sheet and income statement. The statement of retained earnings focuses specifically on changes in retained earnings over a given period.
On a statement of retained earnings, the following items would typically be included:
Retained earnings at the beginning of the period: This represents the balance of retained earnings carried forward from the previous accounting period.
Net income (loss): Net income is the company's total revenues minus total expenses for the period. If there is a net loss, it is deducted from the beginning balance of retained earnings.
Dividends: Dividends are distributions of profits to the shareholders. The amount of dividends declared during the period is subtracted from the beginning balance of retained earnings.
Retained earnings at the end of the period: This is the final balance of retained earnings after considering the net income (loss) and dividends.
Total liabilities, total assets, and total revenues are not directly included in the statement of retained earnings. They are typically reported in other financial statements such as the balance sheet and income statement. The statement of retained earnings focuses specifically on changes in retained earnings over a given period.
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A statement of retained earnings normally includes: retained earnings at the beginning of the period, net income or loss, dividends, and retained earnings at the end of the period. Total liabilities, total assets, and total revenues are typically not part of a statement of retained earnings.
Explanation:A report on retained earnings indicates the cumulative earnings a company has reinvested in its business since its inception, minus any dividends it has paid out to shareholders. The specific details included in a statement of retained earnings are:
Retained earnings at the beginning of the period: This is the amount of retained earnings at the start of the period under consideration.Net income (Loss): This represents the company's profit or loss over the period. It is added to or subtracted from the beginning retained earnings.Dividends: If the company declares and pays out dividends to its shareholders during the period, they are deducted from retained earnings.Retained earnings at the end of the period: This is the end balance of retained earnings, calculated as the beginning balance plus net income minus dividends.Please note that Total Liabilities, Total Assets, and Total Revenues are typically not part of a statement of retained earnings. They would be found on a balance sheet (assets and liabilities) and an income statement (revenues)
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