Before trade is allowed, the consumer surplus is the area above the market price and below the demand curve. It represents the extra benefit that consumers receive when they are able to buy a good at a price lower than what they are willing to pay.
The producer surplus, on the other hand, is the area below the market price and above the supply curve. It represents the extra benefit that producers receive when they are able to sell a good at a price higher than what they are willing to accept.To draw the supply-and-demand diagram for an importing country, you would typically have the quantity of a good or service on the horizontal axis and the price on the vertical axis.
With free trade, the importing country can now access goods from other countries. This can lead to lower prices for consumers and increased variety of products. The consumer surplus will increase because consumers can buy the imported goods at a lower price. The producer surplus may decrease because domestic producers face competition from foreign producers who can offer the same goods at a lower price.
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question 2 you have just purchased a home by borrowing \$400,000$400,000 for 30-years at a fixed apr of 3.87\%3.87%. the loan payments are monthly and interest is compounded monthly. what is the effective annual rate on the loan? (i.e., what is the interest rate once we take into account compounding?)
You have just purchased a home by borrowing $400,000 for 30 years at a fixed APR of 3.87%. The effective annual rate on loan payments are monthly, and interest is compounded monthly.
The effective annual rate (EAR) takes into account the compounding of interest over a year. To calculate the EAR on the loan, we need to consider the nominal annual interest rate (APR) and the compounding period.Step 1: Convert APR to monthly interest rate.To calculate the monthly interest rate, we divide the APR by 12 (number of months in a year). In this case, the monthly interest rate is 3.87% / 12 = 0.3225%.
Step 2: Calculate the effective monthly interest rate.To account for compounding, we need to add 1 to the monthly interest rate and then raise it to the power of 12 (number of compounding periods in a year). In this case, the effective monthly interest rate is (1 + 0.003225)^12 - 1 = 0.0409 or 4.09%.Step 3: Convert the effective monthly interest rate to the effective annual rate.Therefore, the effective annual rate on the loan, taking into account compounding, is approximately 4.98%.
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Sort the following options from best to least preferred according to the Theory of Constraints and Lean practice; Invest additional resources - labour or equipment - to support the bottleneck process Improve the bottleneck process so it takes less time Design a balanced, waste-free, pull process without a bottleneck Split the bottleneck process so that the work can be shared
The Theory of Constraints (TOC) is a management method for identifying and eliminating the most significant operational limitation, referred to as a bottleneck, that impedes the system's overall performance.
It aims to increase output by identifying and removing bottlenecks in the production process.
The order in which the given options should be sorted according to the Theory of Constraints and Lean practice, from best to least preferred, is as follows:
Design a balanced, waste-free, pull process without a bottleneckSplit the bottleneck process so that the work can be sharedImprove the bottleneck process so it takes less time invest additional resources - labor or equipment - to support the bottleneck process
The reasoning behind this order is as follows:
1. Design a balanced, waste-free, pull process without a bottleneck:
Designing a balanced, waste-free, pull process without a bottleneck is the most preferred option because it aligns with the lean practice of creating a process that operates with minimal waste and pulls materials and products through the system as needed.
A bottleneck is eliminated in this case by avoiding it altogether, resulting in a more efficient and effective process.
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Polaski Company manufactures and sells a single product called a Ret. Operating at capacity, the company can produce and sell 44,000 Rets per year. Costs associated with this level of production and sales are given below:
Unit Total
Direct materials $ 20 $ 880,000
Direct labor 6 264,000
Variable manufacturing overhead 3 132,000
Fixed manufacturing overhead 9 396,000
Variable selling expense 2 88,000
Fixed selling expense 6 264,000
Total cost $ 46 $ 2,024,000
The Rets normally sell for $51 each. Fixed manufacturing overhead is constant at $396,000 per year within the range of 36,000 through 44,000 Rets per year.
Required:
1. Assume that due to a recession, Polaski Company expects to sell only 36,000 Rets through regular channels next year. A large retail chain has offered to purchase 8,000 Rets if Polaski is willing to accept a 16% discount off the regular price. There would be no sales commissions on this order; thus, variable selling expenses would be slashed by 75%. However, Polaski Company would have to purchase a special machine to engrave the retail chain’s name on the 8,000 units. This machine would cost $16,000. Polaski Company has no assurance that the retail chain will purchase additional units in the future. Determine the impact on profits next year if this special order is accepted.
2. Refer to the original data. Assume again that Polaski Company expects to sell only 36,000 Rets through regular channels next year. The U.S. Army would like to make a one-time-only purchase of 8,000 Rets. The Army would pay a fixed fee of $1.80 per Ret, and it would reimburse Polaski Company for all costs of production (variable and fixed) associated with the units. Because the army would pick up the Rets with its own trucks, there would be no variable selling expenses associated with this order. If Polaski Company accepts the order, by how much will profits increase or decrease for the year?
3. Assume the same situation as that described in (2) above, except that the company expects to sell 44,000 Rets through regular channels next year. Thus, accepting the U.S. Army’s order would require giving up regular sales of 8,000 Rets. If the Army’s order is accepted, by how much will profits increase or decrease from what they would be if the 8,000 Rets were sold through regular channels?
The earnings will rise by $124,400 if the special order is approved. The revenues will rise by $14,400 if the American Army's request is granted. Profits will drop by $25,600 in comparison to selling 8,000 Rets through conventional channels if the Army's request is carried out.
1. We must compute the pertinent costs and revenues in order to assess the effect of accepting the unique order on profits.
$1,836,000 was earned from ordinary sales (36,000 Rets x $51/Ret).
Cost of normal sales: 36,000 Rets x $46 per Ret = $1,656,000
Revenue from special orders is equal to 8,000 Rets ($51 - 16% discount) x 1 x (1 - 0.16) = $326,400.
8,000 Rets cost $344,000 ($20 + $6 + $3) for a special order (direct materials, direct labor, and variable manufacturing overhead).
25% of reduced variable selling costs multiplied by $88,000 equals $22,000.
Profit impact: Total revenue minus total costs
($2,162,400 - $2,038,000) = profit impact of $124,400.
2. If the U.S. Army's order is accepted, the profits will rise because all unit-related production costs will be covered.
Gain in profit = 8,000 Rets X $1.80 each, or $14,400.
The revenues will rise by $14,400 if the American Army's request is granted.
3. The business would have to stop selling its usual 8,000 Rets if the Army's requirement is accepted. The profits from selling 8,000 Rets through conventional channels and the profits from fulfilling the Army's order must be contrasted in order to determine the profit differential.
Profit from regular sales of 8,000 Rets = 8,000 Rets × ($51 - $46)
= 8,000 Rets × $5
= $40,000
Profit differential is calculated as follows:
= $14,400 - $40,000
= -$25,600
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in a standard costing income statement, favorable variances are cost of goods sold at standard cost. multiple choice question. added to equal to subtracted from
Favorable variances are subtracted from cost of goods sold at standard cost. The Option C.
How are favorable variances treated in a standard costing income statement?In a standard costing income statement, favorable variances are subtracted from the cost of goods sold at standard cost. This means that when actual costs are lower than the standard costs, it is considered favorable and the difference is deducted from the cost of goods sold.
This approach helps to assess the performance of the production process by identifying areas where costs are being controlled effectively and contributing to increased profitability. By subtracting, the income statement reflects the savings achieved due to efficient cost management.
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Alex took out a variable rate $50,000 loan on July 3 at prime + 4% when prime was set at 3%. The prime rate increased ½% on August 15.
A) How much simple interest does Alex owe if the loan is paid back on September 19?
B) Which method did you use to calculate number of days?
A) To find how much simple interest Alex owes if the loan is paid back on September 19, we can use the simple interest formula: I = PRT, where I is the interest, P is the principal, R is the interest rate, and T is the time in years. We will need to convert the time into days since the interest rate is given as an annual percentage.
Therefore, T = (September 19 - July 3) / 365 = 78 / 365 ≈ 0.2137 years.
Prime rate on July 3 = 3%
Variable rate on July 3 = Prime + 4% = 3% + 4% = 7%
Variable rate on August 15 (after increase) = Prime + 4% = 3.5% + 4% = 7.5%
Therefore, the interest rate that Alex will pay on the loan from July 3 to August 14 is 7%, and from August 15 to
September 19 is 7.5%.
The interest accrued from July 3 to August 14 can be calculated as follows:
I = PRT = $50,000 × 7% × (43 / 365) ≈ $409.59
The interest accrued from August 15 to September 19 can be calculated as follows:
I = PRT = $50,000 × 7.5% × (35 / 365) ≈ $479.45
Therefore, the total interest owed by Alex if the loan is paid back on September 19 is approximately $409.59 + $479.45 = $889.04
B) To calculate the number of days, we used the following formula:
T = (September 19 - July 3) / 365 = 78 / 365 ≈ 0.2137 years.
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Jamilah recently was asked by her manager to plan and conduct a two-days training course on the pedagogy of teaching online students. The training will be delivered in one month time to a group of 40 lecturers from a community college nearby. She is very well versed in online teaching and the supervisor felt that she would do a good job since she recently had attended a refresher course on technology-based training methods. Jamilah started her preparation by observing another senior trainer delivering a similar training course, read through the training materials several times, looked through materials from previous courses conducted by the other trainers and tried to think of some creative activities she could include in the course. Jamilah sat down with the materials on online pedagogy and started to plan for her course. She knew that she would need some notes, so she developed a set of trainer's notes. She even put some of her notes on a handout to give to those she would be training. Jamilah knew that it was important that she be clear, so she practised reading her notes in a clear voice. She also planned to stop periodically and ask if the participants had any questions. The day of the training finally arrived. During her first session, Jamilah noticed that the participants were not paying attention to her presentation. There were no questions being asked and the participants looked bored and distracted. After the presentation, the participants left the room for a break. Jamilah had a feeling that her first presentation was a failure. She wondered if agreeing to deliver the course was a good decision and she dreaded the next one and a half day that she has to go through to complete the training. Questions: a. Based on the scenario above and the principles relating to training design, describe TWO (2) training mistakes that Jamilah as a trainer has committed. (4 Marks) b. What should Jamilah have done to prevent these mistakes? Provide TWO (2) recommendations that Jamilah could adopt and apply to make her training session more interesting and engaging. (6 Marks) c. If Jamilah were asked by the college administrator to assist them in evaluating the training, elaborate on the following: i. The TWO (2) outcomes to be collected from the training and the measurement methods that she could use. (4 Marks) ii. The most suitable evaluation design to assess the two-day training. (6 Marks)
The combination of different evaluation methods will offer a comprehensive understanding of the training's effectiveness and areas for improvement.
Two training mistakes that Jamilah has committed are:Lack of audience engagement: Jamilah noticed that the participants were not paying attention, looked bored, and were not asking any questions. This suggests a lack of engagement during her presentation. Engaging participants is crucial to ensure effective learning and retention of information.
Insufficient adaptation to the participants' needs: Jamilah prepared the training based on her own understanding and expertise, without considering the specific needs and background of the 40 lecturers attending the course. This oversight could have resulted in a mismatch between the training content and the participants' requirements.
To prevent these mistakes, Jamilah could adopt the following recommendations:Interactive activities: Include interactive exercises, discussions, group work, or case studies to actively engage participants. This will enhance their involvement and make the training more dynamic and participatory.
Needs assessment: Conduct a needs assessment survey or pre-training questionnaire to understand the specific requirements, expectations, and prior knowledge of the participants. This information will help tailor the training content and activities to their needs, ensuring relevance and increased engagement.
Two outcomes to be collected from the training:Knowledge gain: Measure the participants' increase in knowledge and understanding of online pedagogy through pre and post-training assessments or quizzes.
Participant feedback: Collect feedback from the participants regarding the training content, delivery, and overall experience through surveys or interviews.
The most suitable evaluation design for the two-day training would be a mixed-methods approach. This would involve combining quantitative measures, such as knowledge assessments, with qualitative measures, such as participant feedback surveys or interviews. Additionally, incorporating observation by an external evaluator or peer observation can provide valuable insights into the training delivery and participant engagement.
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write about Infectious disease literature research including with the below points
Local Literatures
Local Studies
Foreign Studies
Foreign Literatures
Illustrate the theoretical Framework based on your RTP
To conduct a research of the literature on infectious diseases, including the points required by the statement, you must first choose your sources, which should be books and a academic database of relevant scientific articles.
What is the purpose of the literature on infectious diseases?Provide further explanations on various infectious diseases, increasing the vision and knowledge about the forms of development, contagion and cure of such diseases.
Therefore, bibliographical research in various sources of study on the subject will increase the perspective of the researcher, such as local literatures, which addresses diseases that occur in that region and foreign studies that will demonstrate other diseases in relation to the various variables of that location, giving greater subsidy for understanding and search for the solution.
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what is double distribution method in cost measurement with real
example please?
Double distribution method is a cost accounting method that involves allocating costs based on two different measures. It is used when a single cost driver cannot fully explain the variation in costs.
The method involves identifying two cost drivers and allocating costs based on the relationship between them. One driver is used to allocate fixed costs, while the other is used to allocate variable costs. Here is a real example to illustrate how the double distribution method works:Suppose that a company produces two products, A and B. It incurs both fixed and variable costs in the production process.
The company has identified two cost drivers: direct labor hours (DLH) and machine hours (MH). The fixed costs are allocated based on MH, while the variable costs are allocated based on DLH. The following data is available:
Fixed costs: $10,000Variable costs: $20,000DLH: 2,000MH: 500
Product A requires 1,500 DLH and 200 MH, while product B requires
Using the double distribution method, we can allocate the costs as follows:
Fixed cost allocation: ($10,000/500) x 200 = $4,000 for product
A and ($10,000/500) x 300 = $6,000 for product B Variable cost allocation:
($20,000/2,000) x 1,500 = $15,000 for product A and ($20,000/2,000) x 500 = $5,000
The total cost of producing product A is $19,000 (fixed cost + variable cost) and the total cost of producing product B is $11,000.
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on september 1, chadd inc reported retained earnings of 408,000. during the month of september, chadd gerneated revenues of 60,000
Chadd Inc's retained earnings at the end of September would be $468,000. This increase in retained earnings indicates that the company earned a profit during September.
Chadd Inc reported retained earnings of $408,000 on September 1. During the month of September, Chadd generated revenues of $60,000.
Retained earnings represent the accumulated profits or losses of a company that are reinvested back into the business rather than distributed to shareholders as dividends. It is an important measure of a company's financial health and growth over time.
To calculate the new retained earnings at the end of September, we need to add the revenues generated during the month to the beginning retained earnings.
Retained earnings at the end of September = Beginning retained earnings + Revenues generated
Retained earnings at the end of September = $408,000 + $60,000
Retained earnings at the end of September = $468,000
Therefore, Chadd Inc's retained earnings at the end of September would be $468,000. This increase in retained earnings indicates that the company earned a profit during September.
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Large economic differences are observed between poor and rich countries. Discuss how migration driven by these differences may affect economic development of origin countries by answering the following questions:
What challenges do you face if you want to assess these impacts using quantitative methods? Explain how you would tackle these issues.
When assessing the impacts of migration driven by economic differences using quantitative methods, there are a number of challenges that one may face. One of the primary challenges is that there are often no standard definitions for various concepts and terms used in such studies, such as "migrants," "remittances," and "economic development."
These definitions may vary from country to country, and as a result, may lead to difficulties when comparing data across different countries. In addition to this, it may also be difficult to gather reliable data on migration and its impact on economic development. Data may be incomplete or missing in some cases, or may be difficult to obtain due to privacy concerns, political instability, or other factors. This may make it difficult to draw meaningful conclusions from quantitative studies on the topic. Another issue that may arise when conducting quantitative studies on the impact of migration is the potential for selection bias.
This is particularly true when studying the impact of remittances on economic development, as those who choose to migrate and send remittances may differ in important ways from those who do not. For example, those who migrate may be more motivated and better educated, and may therefore be more likely to send remittances to their home countries.To tackle these issues, researchers should take a number of steps. First, they should carefully define their concepts and terms, and ensure that they are using the same definitions across all countries being studied.
Finally, researchers should use appropriate statistical methods to control for selection bias, such as propensity score matching or regression analysis. These methods can help to ensure that any observed effects of migration or remittances on economic development are not simply the result of differences between migrants and non-migrants.
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Forward Premium on the Dollar. Calculate the forward premium on the dollar if the spot rate is $1.6126 = £1.00 and the 6-month forward rate is $1.5542 = £1.00. Note: Use a 360-day year.
The forward premium on the dollar is 7.2430 %. (Round to four decimal places.)
In international finance, the forward premium is the difference between the forward exchange rate and the spot exchange rate expressed in percentage terms.
If the forward exchange rate is greater than the spot exchange rate, the forward premium is positive, indicating that the currency is trading at a forward premium.
Here, the spot rate is $1.6126
= £1.00, and the 6-month forward rate is $1.5542
= £1.00, respectively, and the number of days in a year is 360.In this case, Forward premium on the dolla
r= {($1.5542-$1.6126)/ $1.6126} × (360/180)Forward premium on the dollar
= - 0.0361 or -3.61 %Since the forward premium on the dollar is negative (-3.61 %), it implies that the dollar is trading at a forward discount. 3.61 percent.
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the unemployment compensation act of 2008 expanded the euc benefits to 20 weeks nationwide.
False. The statement is false.
The Unemployment Compensation Act of 2008 did not expand the Emergency Unemployment Compensation (EUC) benefits to 20 weeks nationwide. The specific provisions and duration of EUC benefits can vary over time and depend on the specific legislation passed by the government. The EUC program was initially created in response to the 2008 financial crisis to provide additional unemployment benefits to individuals who exhausted their regular state unemployment benefits. However, the duration of EUC benefits and the eligibility criteria were subject to change with subsequent legislation. It is important to refer to the specific laws and amendments enacted during that period to determine the actual duration of EUC benefits provided under the Unemployment Compensation Act of 2008.
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Tacit collusion in an industry is limited by: a small number of firms. simple products and pricing. monopoly power a large number of firms and the bargaining power of buyers
Tacit collusion in an industry is limited by a large number of firms and the bargaining power of buyers. Tacit collusion refers to an understanding between firms operating within a specific market or industry to coordinate their pricing and production decisions. This is done in order to maximize profits, even though it may be illegal due to the fact that it suppresses competition.
A small number of firms in an industry tend to have more opportunities to communicate and coordinate their activities, making it easier for them to engage in tacit collusion. When there is a large number of firms, it becomes more difficult to coordinate actions, as there are more independent actors in the market, and firms may have difficulty observing and interpreting the signals of their competitors.
Simple products and pricing also limit tacit collusion. Firms tend to engage in tacit collusion more often when products are complex, and pricing is variable.
Monopoly power refers to a single firm dominating an industry, and as such, there is no competition.
The bargaining power of buyers limits tacit collusion as firms are less likely to coordinate their actions when they face strong countervailing power from their customers, making it more difficult for firms to collude.
Tacit collusion is limited in different ways, and these factors are essential in ensuring that market competition is maintained to protect consumer welfare.
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a bank account contributes to good internal control by providing physical controls for the storage of cash. it minimizes the amount of currency that a company must keep on hand, and it creates a double record of a depositor's bank transactions.
Control Features of a Bank Account:
A bank account provides physical controls and double recordkeeping.What are the control features of a bank account?Bank accounts offer various control features that contribute to good internal control within a company. One important control feature is the provision of physical controls for the storage of cash.
By having a bank account, a company minimize the amount of currency it needs to keep on hand, reducing the risk of theft or loss. Instead of holding large sums of cash, funds are securely deposited into the bank account.
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11-17 the following are the activity times for the project in problem 11-16. find the earliest, latest, and slack times for each activity. then find the critical path.
To find the earliest, latest, and slack times for each activity in the given project, we need to follow a few steps.
Identify the activities and their corresponding times. Calculate the earliest start and finish times for each activity.Next, we calculate the ES and EF for the remaining activities, using the following formula:ES = EF of the immediately preceding activity.EF = ES + Duration. Calculate the latest start and finish times for each activity.Next, we calculate the LS and LF for the remaining activities, using the following formula:LS = LF - Duration
Calculate the slack time for each activity.The slack time for an activity is the difference between its latest start time and earliest start time (LS - ES).The critical path is the longest path through the project, consisting of activities with zero slack time. It represents the sequence of activities that, if delayed, would delay the project completion. To find the critical path, identify the activities with zero slack time. In our example, let's say Activity A and Activity C have zero slack time. Therefore, the critical path would be A -> B -> C.
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Determine how supply chain information management systems can
increase productivity and create efficiencies in the supply
chain.
Supply chain information management systems refer to the tools and technologies used in the management and analysis of supply chain data. The integration of these systems can increase productivity and create efficiencies within the supply chain.
1. Better Coordination of Supply Chain Operations
Supply chain information management systems provide an end-to-end view of the supply chain by integrating data from various stakeholders such as suppliers, manufacturers, distributors, and retailers.
2. Improved Inventory Management
Supply chain information management systems enable companies to manage their inventory levels more effectively. This is because these systems provide real-time visibility of inventory levels, which enables companies to make informed decisions on inventory management.
3. Better Collaboration
Supply chain information management systems can facilitate better collaboration between supply chain stakeholders. For example, suppliers can communicate with manufacturers to inform them of delivery schedules and any issues that may arise.
4. Enhanced Customer Service
Supply chain information management systems can help companies to enhance their customer service.
.
5. Greater Visibility and Control
Supply chain information management systems provide greater visibility and control over supply chain operations. This enables companies to monitor performance, identify bottlenecks, and make informed decisions on how to improve efficiency.
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The rate quoted by Big Bank on a car loan is 8%. The annual rate of inflation is currently 1.5%. What is the approximate real interest rate paid by the consumer on this loan?
To calculate the approximate real interest rate paid by the consumer on the car loan, we need to adjust the nominal interest rate by subtracting the rate of inflation.
Given that the rate quoted by Big Bank on the car loan is 8% and the annual rate of inflation is 1.5%, we can calculate the real interest rate as follows:
Real Interest Rate = Nominal Interest Rate - Inflation Rate
Real Interest Rate = 8% - 1.5% = 6.5%
Therefore, the approximate real interest rate paid by the consumer on this loan is approximately 6.5%. This represents the inflation-adjusted rate of return on the loan, reflecting the true cost of borrowing after accounting for the effects of inflation.
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Which of the following is not an important event in the history of strategic management? "Strategy from ancient times. Strategy from a corporate-level viewpoint. Strategy from a field of study. Strategy from military conflicts.
"Strategy from a corporate-level viewpoint" is not an important event in the history of strategic management.
The other three options—strategy from ancient times, strategy from a field of study, and strategy from military conflicts—have all played significant roles in the development and evolution of strategic management.
Strategy from ancient times: The concept of strategy has been present since ancient times, with examples found in various civilizations and texts. Historical figures such as Sun Tzu and Machiavelli have contributed to strategic thinking and principles.
Strategy from a field of study: Strategic management emerged as a distinct field of study in the mid-20th century. Scholars and researchers began exploring the principles, frameworks, and practices of strategic management, leading to the development of theories and models to guide strategic decision-making.
Strategy from military conflicts: Military conflicts have often been a source of inspiration for strategic management. Concepts such as competitive advantage, positioning, and resource allocation have been derived from military strategies and applied to business contexts.
However, "Strategy from a corporate-level viewpoint" is a broad concept that encompasses strategic decision-making and planning within an organization, which is a fundamental aspect of strategic management. It is not a specific event or milestone in the history of strategic management.
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SHAREHOLDERS You and two friends - A and B - become shareholders. You are the primary shareholder with 50% of the shares. A and B each have 25% of the shares. You have signing authority over contracts. 6. Suppose A and B want to sell their shares. Who can purchase their shares? (2 marks) 7. Suppose B wants to inspect the corporate records. Where would the records be kept? (1 mark) 8. If one buys shares in the corporation, how can this person prove it is a shareholder? (2 marks) 9. Who is responsible for declaring dividends? (2 marks) 10. Name 3 shareholder rights.
6. The only entity that can buy shares from A and B is you because you are the primary shareholder, with the authority to sign contracts and other corporate documents.
7. Corporate records are kept in a secure location, most likely in the company's office or in a bank safe deposit box.8. When someone purchases shares in a corporation, they will receive a stock certificate. They must hold onto this certificate as proof of their ownership in the company. The stock certificate will have the shareholder's name, the number of shares they own, and the date of purchase.9. The corporation's board of directors is responsible for declaring dividends.10. Three shareholder rights are:Right to receive dividends when they are declared Right to vote on corporate matters, such as electing the board of directors and making important corporate decisions Right to sue the corporation for wrongdoing if necessary.
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when people encounter difficulties in being promoted to management above a certain level, they have encountered a
When people encounter difficulties in being promoted to management above a certain level, they have encountered a glass ceiling.
What is a Glass Ceiling?A glass ceiling is a metaphorical phrase used to describe an invisible barrier that prevents qualified employees from achieving promotions and success in their chosen careers. It is often found in positions such as management and executive positions and it can be due to factors such as gender, race, ethnicity, and age.
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Your organisation is hoisting a seminar on Covid-19, which will require a renowned consultant from Hong Kong to do a three days' training. As one of the organising team, you have been assigned the task of 'Cost estimates and Budget'. The following details are made available to you: The consultant will be paid an all-inclusive fee of Rs 30,000 per day and he will be assisted by an administrator, whose time is costed at Rs 1,500 per day. The course requires the provision of printed materials and stationery of Rs300 per delegates. To estimate the other cost elements, you are provided with the cost sheet for the two previous seminars. The general overheads would be the ongoing costs of providing the other facilities to hoist such event. The overheads include a fixed element and a charge out rate, to absorb overhead based on the traditional product costing. The participation fee per delegate will be Rs 3,000 Required: (a) Calculate the cost estimates if the expected number of delegates is 200, classifying the costs into both traceability and behaviour. (b) Calculate the number of delegates that should attend the seminar for your organisation to break even and state whether the event is likely to make a profit.
For the seminar on Covid-19 with 200 delegates, the cost estimates include traceable costs: consultant fee, administrator cost, printed materials; and general overheads. The break-even point is 52 delegates, indicating the event is likely to be profitable with 200 delegates.
(a) Cost Estimates for 200 Delegates:
Traceable Costs:
Consultant Fee: Rs 30,000 per day x 3 days = Rs 90,000
Administrator Cost: Rs 1,500 per day x 3 days = Rs 4,500
Printed Materials and Stationery: Rs 300 per delegate x 200 delegates = Rs 60,000
Behavior Costs:
General Overheads (Fixed Element): This cost will remain the same regardless of the number of delegates and is not directly traceable to the seminar.
(b) Break-even Analysis and Profitability:
To calculate the break-even point, we need to consider the total cost and the revenue generated by the participation fees.
Total Traceable Costs: Consultant Fee + Administrator Cost + Printed Materials and Stationery
= Rs 90,000 + Rs 4,500 + Rs 60,000
= Rs 154,500
Break-even Point (Number of Delegates):
Break-even Point = Total Traceable Costs / Participation Fee per Delegate
= Rs 154,500 / Rs 3,000
= 51.5 delegates
Since it's not possible to have fractional delegates, the organization would need at least 52 delegates to break even.
Profitability:
If the expected number of delegates is 200, the organization is likely to make a profit because the actual number of delegates (200) is significantly higher than the break-even point (52). The revenue generated from the participation fees of the additional delegates would exceed the total traceable costs, resulting in a profit.
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Question 2: Many firms have unsuccessfully tried to develop global leaders. What are the characteristics of global leaders and why is it so difficult for leaders to be effective in an increasingly globalized world?
Global leaders are highly skilled professionals with outstanding abilities that are highly valuable in an international environment. These are individuals who understand the nuances of different cultures, values, and beliefs, and are capable of establishing good working relationships with people from various backgrounds.
Global leaders have a deep understanding of different cultures, religions, and beliefs. They are sensitive to these differences and can easily adapt to different cultures.Communication skills: Global leaders are excellent communicators who are proficient in a variety of languages. They have the ability to communicate effectively with people from different cultures.
Adaptability: Global leaders are adaptable and flexible. They can quickly adapt to changing situations, and they are comfortable working in different environments.Strategic thinking: Global leaders are strategic thinkers who can develop and execute effective plans. They have the ability to make decisions in complex and dynamic environments. They are also innovative and creative.Problem-solving: Global leaders are skilled at solving problems.
They can identify problems, analyze the situation, and develop effective solutions.The challenges of developing global leaders are numerous.
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allows an organization to customize some aspect of the goods or services it offers to each customer.
Mass customization is a business model that allows an organization to customize some aspect of the goods or services it offers to each customer. This business model has become increasingly popular as technology has advanced, enabling companies to produce products at a lower cost while still allowing customers to personalize them.
Mass customization, also known as made-to-order, is when a product is produced with the same cost efficiencies as a mass-produced product but is tailored to the customer's needs. Customers can select certain features that they prefer or that they will best suit their needs, and the company will then produce the product according to their specifications.
This is usually done via an online configuration tool that allows customers to select options such as size, color, material, and other features.
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BoJo Waffles share price is trading at £100 per share. Each year the stock price will either go up u or go down d, and u=d=25%. The annual risk-free interest rate is 5% discretely compounded. a. By constructing a replicating portfolio, determine the price of a two-year European call option with the strike E=£110. [20 Marks] b. Use the call price to calculate the price of the put on BoJo Waffles with the same strike and expiry. [5 Marks]
Given information: BoJo Waffles share price is trading at £100 per share. Each year the stock price will either go up u or go down d, and u=d=25%.The annual risk-free interest rate is 5% discretely compounded.
a. By constructing a replicating portfolio, determine the price of a two-year European call option with the strike E=£110.The first step is to determine u and d as we know u = d = 25%.u = 1 + 25% = 1.25d = 1 - 25% = 0.75Now calculate the risk-neutral probability of an up-move.
Then calculate the call option price. Probability of an up-move, p = (e^rt - d)/(u - d)where r = annual risk-free interest rate = 5% compounded discretely for 2 years T = 2 (in years)t = T/n = 1 (time period of each step)u = 1.25 and d = 0.75.
Substituting the values in the above formula, we getp = (e^(0.05*1) - 0.75)/(1.25 - 0.75) = 0.5107The price of the call option, C = e^-rT [pC_u + (1 - p)C_d] where C_u = price of call option if the stock price goes up = max(0, 110 - 100*1.25) = £0C_d = price of call option if the stock price goes down = max(0, 110 - 100*0.75) = £35.
Substituting the values, we getC = e^(-0.05*2) [0.5107(0) + (1 - 0.5107)(35)] = £16.58.
Therefore, the price of a two-year European call option with the strike E=£110 is £16.58.b. Use the call price to calculate the price of the put on BoJo Waffles with the same strike and expiry.
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You have recently accepted the engagement to audit the financial
statements of Game (Pty) Ltd, after the retirement of the company’s
previous auditor from the auditing profession. The following
info
As a new auditor, it is your responsibility to ensure that the financial statements of a company are accurate and free from any material misstatements. In this case, you have accepted the engagement to audit the financial statements of a company whose previous auditor has been removed from the auditing profession.
The first thing you need to do is assess the reasons why the previous auditor was removed from the auditing profession. This will help you identify any risks that you need to be aware of when conducting the audit. For example, if the previous auditor was removed from the profession due to audit failures or misconduct, this may indicate a high risk that the financial statements contain material misstatements. In this case, you would need to perform more detailed testing and have a higher level of professional skepticism throughout the audit process.
You should also review the work performed by the previous auditor. This will help you to understand the company's accounting policies, internal controls, and any significant risks that were identified by the previous auditor. You should also communicate with the previous auditor to gain their insights into the company and the audit process. This can be particularly helpful in identifying areas that require additional attention or where the previous auditor may have had concerns.
You should also communicate with the company's management and those charged with governance to understand their expectations for the audit and any significant risks or issues that they are aware of. This will help you to tailor your audit procedures to the specific risks of the company and ensure that you are focusing on areas that are important to the company.
Finally, you should document your findings and conclusions throughout the audit process. This will help you to demonstrate that you have performed your audit in accordance with auditing standards and that you have obtained sufficient evidence to support your opinion on the financial statements.
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Lacy is a single taxpayer with $50,000 of taxable income. Please determine her tax liability assuming that: a. all of her income relates to salary received from her employer. b. the $50,000 of taxable income includes $5,000 of qualified dividend income. Why do you think dividend income and long term capital gain income is taxed at favorable tax rates (i.e., tax rates that are lower than what ordinarily applies)?
Lacy is a single taxpayer with $50,000 of taxable income. Please determine her tax liability assuming that:
a. all of her income relates to salary received from her employer.Lacy is a single taxpayer with a taxable income of $50,000. Since all of her income is from salary, we will calculate her tax liability based on the standard tax rates.
The tax liability of Lacy will be calculated as follows:
The first $9,950 will be taxed at 10%, which amounts to $995 ($9,950 x 10%).The amount from $9,951 to $40,525 will be taxed at 12%, which amounts to $3,669 (($40,525 - $9,951) x 12%).
Finally, the amount from $40,526 to $50,000 will be taxed at 22%, which amounts to $1,305 (($50,000 - $40,526) x 22%).Thus, Lacy's tax liability on a taxable income of $50,000, all of which relates to salary, will be $5,969 ($995 + $3,669 + $1,305).
b. the $50,000 of taxable income includes $5,000 of qualified dividend income. Qualified dividends are taxed at long-term capital gains rates. they are taxed at lower rates than other types of income. The tax rates applicable to long-term capital gains are favorable to incentivize investment, which helps support the economy in the long run.
The lower tax rates on dividends encourage people to invest in stocks, which helps businesses raise capital to grow and create jobs. When businesses expand, they create more jobs, which leads to economic growth. This is why dividends and long-term capital gains are taxed at lower rates than ordinary income.
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ETHICS Should employers check credit reports as part of the hiring process? Each year retailers lose $30 billion a year from employee theft and $55 million because of workplace violence. Those who commit fraud are often living above their means but there is no evidence that workers with poor credit reports are more likely to be violent, steal from their employers, or quit their jobs. And refusing to hire someone with a low credit score creates a sad catch-22: People have poor credit records because they are unemployed and because they have poor credit records they continue to be unemployed. What is the right thing for an employer to do?
Ethics determine what is right and wrong based on a set of moral principles and values. In today's world, many employers request credit reports as part of their hiring process. However, the ethical issue with this is that the poor credit report should not determine if someone gets hired or not.
The following are points to consider when discussing whether employers should check credit reports as part of the hiring process:
Ethical Issues:
Checking the credit report of a potential employee is unethical. The poor credit report should not determine whether or not someone gets the job. Although a credit report may provide some insight into a candidate's financial behavior, it does not say much about their work ethic or job skills.
Legal Issues:
According to the Fair Credit Reporting Act, employers must have written permission from the candidate to access their credit report. Furthermore, employers must notify the candidate if they decide not to hire them based on their credit report and provide them with a copy of the report.
Risk Assessment:
Employers argue that checking credit reports aids in the assessment of risk in hiring a candidate. However, research has shown that there is no correlation between poor credit reports and job performance. Therefore, this argument may be deemed invalid.
Practicality:
Some companies use credit reports to help them identify candidates who may be at risk of fraud or theft. Unfortunately, this approach may also eliminate qualified candidates, as poor credit scores do not always indicate financial irresponsibility.
It's not ethical for employers to check credit reports as part of the hiring process. There are no proven correlations between poor credit reports and job performance, and poor credit scores may be the result of joblessness, thereby creating a catch-22 situation. Employers should rely on the interview process to assess candidates based on their skills, experience, and work ethic.
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A team faces a demand curve of Q = 75000 - 6000*P, where Q is the quantity of tickets sold, and P is the price, in dollars. The marginal cost, per ticket sold, is $2, and the team earns concession revenue of $6 per ticket sold. The team has no other revenue or capacity constraints. If the team is maximizing profits, what is their optimal ticket price?
Answer is 4.25, show workings please.
The optimal ticket price that the team should charge in order to maximize profits is $4.25.
The demand function that the team is facing is given asQ = 75000 - 6000 PThe marginal cost per ticket is $2The team earns $6 per ticket sold, so we can add this revenue to the demand function to get the total revenue function:
TR = (75000 - 6000 P)P + 6PWe can expand the expression on the right hand side of the equation:TR = 75000 P - 6000 P² + 6P.
To find the optimal ticket price, we need to find the value of P that maximizes the total revenue function. We can do this by taking the derivative of the total revenue function with respect to P, and setting it equal to zero:
dTR/dP = 75000 - 12000 P + 6 = 0Solving for P:75000 - 12000 P + 6 = 012000 P = 75006P = 625P = 625/12000 ≈ 0.052
This is the ticket price that maximizes revenue, but we need to subtract the $2 marginal cost to find the optimal price that maximizes profits:optimal price = $0.052 - $2 = $4.25
Therefore, the optimal ticket price that the team should charge in order to maximize profits is $4.25.
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Presented below is information related to Free Corporation: Common Stock, $1 par. $2,600,000 Paid-in Capital in Excess of Par-C/S 330,000 Preferred 81/2% Stock, $50 par. 1,200,000 Paid-in Capital in Excess of Par-P/S 240,000 Retained Eamings. 1,000,000 Accumulated Other Comprehensive Income (Unrealized Losses)......100,000 Treasury Stock (at cost) 90,000 The total stockholders' equity of Free Corporation is a. $5,180,000. b. $5,270,000. c. $5,300,000. d. $5,510,000. e. None of the above
Option (e), The total stockholders' equity of Free Corporation can be calculated by summing up the common stock, preferred stock, paid-in capital in excess of par, retained earnings, accumulated other comprehensive income, and deducting treasury stock.
In this case, the calculation would be as follows:
Common Stock, $1 par: $2,600,000
Paid-in Capital in Excess of Par-C/S: $330,000
Preferred 81/2% Stock, $50 par: $1,200,000
Paid-in Capital in Excess of Par-P/S: $240,000
Retained Earnings: $1,000,000
Accumulated Other Comprehensive Income (Unrealized Losses): $100,000
Treasury Stock (at cost): $90,000
Total Stockholders' Equity = (Common Stock + Paid-in Capital in Excess of Par-C/S + Preferred Stock + Paid-in Capital in Excess of Par-P/S + Retained Earnings + Accumulated Other Comprehensive Income) - Treasury Stock
Total Stockholders' Equity = ($2,600,000 + $330,000 + $1,200,000 + $240,000 + $1,000,000 + $100,000) - $90,000
Total Stockholders' Equity = $5,480,000 - $90,000
Total Stockholders' Equity = $5,390,000
Therefore, the correct answer is e. None of the above. The total stockholders' equity of Free Corporation is $5,390,000.
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You just won a contest and have been appointed City of New York Tax Commissioner (you might be asking, why did I enter such a contest? :)). Your primary goal is two fold: raise revenue and make the tax code more efficient. You have to decide which goods to tax, which goods to raise taxes on and which good to lower taxes. Consider your knowledge of elasticity, supply and demand. You need to close a $225 million budget gap for the City. 1. Alcohol, tobacco and gasoline are already heavily taxed. Should you raise these taxes? Explain your answer. 2. Medical services, electricity and fruits and vegetables are not taxed. Should you start to tax these? Explain your answer. 3. Other than what is listed above, find 3 additional goods or services you would tax to raise more revenue. Explain your answer. 4. Which 3 goods would you eliminate taxes on and why? Explain your answer. Good Luck to you Mr. or Madame Commissioner.
As the newly appointed City of New York Tax Commissioner, it is your primary responsibility to raise revenue and make the tax code more efficient. Therefore, there are several goods and services you should consider taxing or eliminating taxes on to bridge the $225 million budget gap in the City.
Below are the answers to your questions:1. Alcohol, tobacco, and gasoline are already heavily taxed. You should not raise these taxes any further because of the highly inelastic nature of these products. As such, an increase in taxes on these goods will have little impact on their demand, which means the amount of revenue generated will not be significant.2. Medical services, electricity, and fruits and vegetables are not taxed. Starting to tax them would be detrimental to the low-income earners and a burden to the already constrained medical facilities. They should, therefore, remain tax-free.3. The three goods or services that could be taxed to raise more revenue include:
Luxury goods: Items that people buy more of when they have more money, such as expensive cars and high-end jewelry.
Entertainment: Products and services that are meant for leisure and relaxation, such as movie tickets and cable TV.
Airline tickets: Given the heavy use of planes by business people and the wealthy, taxes on airline tickets could be increased, resulting in significant revenue generation.
4. The three goods that should have their taxes eliminated are:
Prescription drugs: As medication is a necessity for many people, it should be tax-free.
Baby items: These should be exempt from taxes since they are necessities for young parents.
School supplies: Tax exemptions on school supplies such as textbooks and stationery will provide relief to parents.
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