Share of preferred stock cost today is $ 146.58 Approximately
The price is computed as shown below:
= 1 / (1 + required rate of return)18 x (Annual dividend / required rate of return)
= 1 / 1.04418 x ($ 14 / 0.044)
= $ 146.58 Approximately
Preferred shares are so called due to the fact they provide their owners a concern declare every time a organisation will pay dividends or distributes property to shareholders. They provide no choice, but, in corporate governance, and desired shareholders often have no vote in employer elections.
Preferred stock is a part of share capital that could have any mixture of capabilities not possessed by means of commonplace inventory, which include houses of both an equity and a debt instrument, and is generally considered a hybrid tool.
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As the available technology improves, ______ shifts to the _____.
A.aggregate demand; left
B.aggregate demand; right
C.aggregate supply; left
D.aggregate supply; right
As the available technology improves, aggregate supply shifts to the right.
The whole supply of products and services produced within an economy at a specific overall price over a specific time period is known as aggregate supply, also known as total output. The relationship between price levels and the amount of output that businesses are prepared to produce is depicted by the aggregate supply curve. Usually, the level of prices and total supply have a positive connection.
Government "supply-side policies," which aim to raise productive efficiency and subsequently national output, focus on the aggregate supply.
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the amount of income earned per each share of a company's outstanding common stock is known as: multiple choice question. book value per share earnings per share price-earnings ratio
The amount of income earned per each share of a company's outstanding common stock is known as Earnings per common share. Thus, option B is correct.
What is income?
Income is the sum of the earnings per share of a group's outstanding common shares. Rental homes, licenses, and liability partners are all potential sources of passive or investment income. Earnings, dividends, and corporate taxes on assets are all types of portfolio or earned income.
The profitability indicator known as Earnings per common share (EPS) reveals how much of the company's revenue is allocated to all of its ordinary shares. Firms typically set EPS goals to provide stakeholders an idea of expected profits. They can however assess actual performance compared to the plan plus report on it.
Therefore, option B is the correct option.
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when the labor market is in equilibrium, the quantity demanded of labor equals the quantity supplied of labor, so the unemployment rate is zero
when the labor market is in equilibrium, the quantity demanded of labor equals the quantity supplied of labor, so the unemployment rate is zero Quantity.
"A character is disqualified for unemployment reimbursement blessings if the director reveals that she or he left his or her most latest work voluntarily without proper reason or that she or he has been discharged for misconduct linked together with his or her latest work."
Unemployment, is the circumstance of 1 who is capable of operating, actively looking for paintings, but is not able to discover any work. it is vital to be aware that to be considered unemployed someone should be a lively member of the labor force and looking for remunerative work.
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to get high schoolers excited about a new kind of energy drink, the company handed out free cans in the parking lot of high school football games. what kind of promotion was the company engaged in?
The kind of strategy the company was engaged in is sampling.
In the field of business, sampling can be described as a promotional strategy in which a small amount of the product is sold to the people present in a place in order for more people to taste the product. By doing so, people who like the sample will have more chances of buying a product.
In the scenario mentioned in the question, as energy drinks are most likely to be consumed by young adults, the company is offering free cans of their product to high schoolers that are present in the parking lot. Such a promotion strategy will be called as sampling.
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during the audit of internal controls integrated with the audit of the financial statements, the auditor discovered a material weakness in internal control. the auditor most likely will express a(n)
During the audit of internal controls integrated with the audit of the financial statements, the auditor discovered a material weakness in internal control. the auditor most likely will express a(n) adverse opinion on internal control.
Auditing is described as the on-website online verification interest, inclusive of inspection or examination, of a method or excellent machine, to make certain compliance to necessities. An audit can practice to an entire organisation or is probably particular to a feature, manner, or production step.
An audit is an "independent examination of monetary information of any entity, whether or not profit orientated or now not, irrespective of its length or prison shape whilst such an examination is performed with a purpose to specific an opinion thereon.”
Auditing is the method of reviewing and confirming your monetary reports. Audits verify that you've created correct and dependable economic reports and that no fraudulent activities are occurring in the commercial enterprise. There are 3 important forms of audits: inner, external, and authorities or IRS audits.
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he flexible budget performance report directs management's attention to areas where: (check all that apply.) multiple select question. costs differ substantially from budgeted amounts. revenues differ substantially from budgeted amounts. small flexible variances exist. small quantity variances exist.
The management's focus is drawn by the flexible budget performance report to areas where corrective action can help control operations.
Flexible budget performance report: what is it?The term "flexible budget performance report" refers to a particular kind of report that enables management of a business to distinguish between quantity deviation and price variance.
Flexible budget performance reports are crucial for businesses because they help them identify areas where they may improve efficiency by taking remedial action.
As a result, management is focused on areas where corrective action can help maintain operational control.
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Julie put half of her savings in a savings account that pays an annual simple interest and half in a savings account that pays an annual compound interest. After two years she earned $120 and $126 from the simple interest account and the compound interest account respectively. If the interest rates for both accounts were the same, what was the amount of Julie's initial savings?
600
720
1080
1200
1440
Julie put half of her savings in a savings account. The amount of Julie initial saving in both accounts is 1200.
Since simple interest is calculated only on the principal, the simple interest income per year will be half of the simple interest income after two years. So a simple interest account earns $60 in the first year and another $60 in the second year.
In the second year, the compound interest account will earn the remaining $66, while the simple interest account will only earn $60. The difference of $6 between simple and compound interest earned on the same amount two years later is due to the interest earned in compound interest.
Calculating the problem:Now, calculate the interest rate using the interest earned on interest for the compound interest account.
The $6 interest earned on the interest was calculated out of the total interest earned on the first year, which is 60$.
Divide 6 by 60 to find the interest rate: (6 ÷ 60) x 100 = 10%.
Given that interest rate is 10%, Julie's investment in the simple interest account is
Interest = Principal x Rate x Time
120 = P x 10% x 2
120 = P x 20%
120 = P x 20/100
P = 120 x 100/20
P = 600
Hence, the initial investment in both accounts was 1200 (600 + 600).
Simple interest:Simple interest is calculated by multiplying the daily interest rate by the principal amount by the number of days until the next payment. Simple interest benefits consumers who pay their loans on time or at the beginning of each month. Auto loans and short-term personal loans are usually simple interest loans.
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5. you have been asked to conceptualize a customer loyalty model of a bank. you must use the following six variables for building a model: 1. customer evaluation of service quality; 2. customer satisfaction with the place; 3. relationship equity; 4. value equity; 5. brand equity; and 6. loyalty intentions. start your answer by defining each of the variables in a banking context, then construct a conceptual model using these six variables (constructs). finally, justify and discuss your model.
You have been asked to conceptualize a customer loyalty model for a bank. you must use the following six variables for building a model customer evaluation of service quality.
Customer loyalty describes the ongoing emotional relationship between you and your customers and how happy they are to engage with you and purchase from you repeatedly compared to your competitors. Loyalty is a byproduct of a customer's positive experience with you and creates trust.
Customer loyalty is the willingness and desire of consumers to repeatedly purchase products or use services from a company that has had a good experience. Customer loyalty is a satisfying relationship with a business that customers frequent.
Loyalty is not a soft skill, but it does require a high level of commitment, entrepreneurship, and integrity. In fact, loyalty is a strategy related to decisions that affect both employees and customers. Loyalty is the key to retaining customers.
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if you wish to maintain a "4 nines" availability rating, what is the maximum amount of down time you can have per day?
If one wishes to maintain a "4 nines" availability rating, 8 seconds is the maximum amount of down time he can have per day
We must keep a downtime of 8 seconds here for 99.99, and as the number of nines rises, the downtime second gets less.
There is a difference between planned and unplanned downtime. Scheduled downtime typically results from maintenance that interferes with system performance and is typically unavoidable with an already-installed system design.
System software patches that call for a reboot or configuration modifications that only take effect after a reboot are examples of scheduled downtime events. In general, a logical, management-initiated event leads to scheduled downtime most of the time. Unplanned downtime incidents often result from a physical occurrence, like a software or hardware malfunction or environmental aberration.
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Price-discriminating firms will impose a _____ price structure that offers customers with a ______ demand aprice and offers customers with a(n)______ demand a ____ price. A. less elastic; higher; more elastic; lower B. less elastic; lower; more elastic; higher O C. lower; higher; higher lower D. seasonal; lower; unchanging higher
Price-discriminating firms will impose a less elastic price structure that offers customers with a lower demand a price and offers customers with a more elastic demand a higher price.
Price discrimination is the enterprise exercise of promoting the equal excellent at distinct costs to distinct clients. Charging adults and kids distinct costs for the equal movie is an instance of rate discrimination. With rate discrimination, a vendor fees clients a distinct rate for the equal product or service.
With first-diploma discrimination, the employer fees the most feasible rate for every unit consumed. There are 3 styles of rate discrimination that you may encounter: first-diploma, second diploma, and third-diploma. These levels occasionally move through different names: personalized pricing, product versioning or menu pricing, and organization pricing, respectively.
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3. which sae automation levels are the focus of nhtsa's voluntary guidance for the development of autonomous vehicle technologies?
The Voluntary Guidance focuses on vehicles that incorporate SAE Automation Levels 3 through 5 ADS.
Is Level 5 automation possible?At Level 5, every vehicle on the road will eventually be totally automated. No samples from Levels 4 through 5 are currently available to the general audience (high automation and full automation). Although the business is headed toward full automation, its future is still debatable.
What are the four different types of automation?The four different types of automation systems are integrated automation, fixed automation, and programmable automation. Let's investigate each type, their differences, and their advantages. You can then try to determine which type of automation system is best for you.
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for the periodic review inventory model presented in the textbook, it is assumed that a special replenishment order will be placed in the event of a stock-out between review points. true false
The statement that in the event of a stock-out between review points, a special replenishment order will be made, is false.
Define stock-out.A stock out, or out-of-stock, situation is when inventory runs out for some reason. Retail out-of-stocks in the swiftly moving consumer products industry are the most noticeable, even though they can occur everywhere in the supply chain. The reverse of stock outs are overstocks, where an excessive amount of a product is kept on hand.
Resupply orders include reordering previously acquired goods to fulfill demand. The "Review Point" is the term used to describe the Council's yearly opening of the Rolling Select List, invitation to service providers to submit charges, and opening of the Rolling Select List to new service providers.
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what is the producer surplus if there is a $5 per unit transaction cost? (do not include the dollar sign $ in your answer)
11 is the producer surplus if there is a $5 per unit transaction cost.
Producer surplus is outlined because the distinction between quantity|the quantity|the number} the producer is willing to provide product for and therefore the actual amount received by him once he makes the trade. Producer surplus could be a live of producer welfare.
Transaction costs see the prices concerned in market exchange. These embrace {the prices|the costs} of discovering market prices and therefore the costs of writing and implementing contracts. The character and magnitude of dealing prices vary in several business eventualities. withal, these prices play a large role in business management and economic process.
The question is incomplete, find the complete question here
Where P0 = $5, PS,0 = $8, PS,1 = $11, P = $14, PB,1 = $16, PB,0 = $18 P1 = $20, Q0 = 40, Q1 = 80, and Q = 120.
What is the price the seller faces if there is a $5 per unit transaction cost? (Do not include the dollar sign $ in your answer)
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If1-800-Flowers sends email coupons to customers for items they have purchased previously and mails pretty pictures of flower bouquets to addresses that have received orders in the past, the firm is participating in
Multiple Choice sales promotions
personal selling
advertising
public relation direct marketing
Direct marketing is being used by 1-800-Flowers by sending customers email coupons based on previous purchases and attractive images of flower arrangements.
What is direct marketing?An offer is communicated through direct marketing, in which businesses speak with a target client directly and provide a way for them to respond. Direct response marketing is another name for it among practitioners. Contrarily, advertising is a form of mass communication. There are many ways to respond, including toll-free phone numbers, reply cards, envelope-sized reply forms, websites, and email addresses. Due to the ubiquity of direct marketing and the unwanted nature of some communications, rules and regulations like the CAN-SPAM Act were created, which mandates that customers in the United States be given the option to opt-out. Meeting the demands of the consumer revolution and the middle class's increase in income, which fueled the Industrial Revolution in Britain.
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product diversification provides two benefits to managers that do not accrue to shareholders: and . a. greater experience in a wider range of industries; lessening of managerial employment risk b. the opportunity for higher compensation through firm growth; a reduction in managerial employment risk
Product diversification provides two advantages to managers that do not accrue to shareholders: 'the opportunity for higher compensation through firm growth' and 'a reduction in managerial employment risk'. Thus, option 'b' holds the correct answer.
Product diversification is the strategy to expand the original market for a product. This approach is used to maximize the sales associated with an existing product line, which is especially beneficial for a business that has been declining sales or experiencing stagnant. Repackaging, renaming, resizing, repricing, brand extensions, and product extensions are some ways through which product diversification can be achieved.
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which of the following best characterizes the compulsive behaviors seen in obsessive-compulsive disorder (ocd)?
Compulsive behaviors in OCD are aimed at reducing the distress triggered by obsessions is best characterizes the compulsive behaviors seen in obsessive-compulsive disorder (OCD).
What is obsessive-compulsive disorder?Obsessive-compulsive disorder (OCD) is a common, persistent, and long-lasting psychological disorder in which a person has uncontrollable, recurrent thoughts known as "obsessions", and/or actions known as "compulsions" that they feel compelled to repeat. Patients with OCD may have compulsive, obsessional both types of symptoms. Every element of life, including job, education, and interpersonal interactions, can be affected by these symptoms.
Recurrent, anxious-inducing desires, thoughts, or mental images are known as obsessions. An OCD patient experiences compulsions, which are repetitive behaviors, as a consequence of an unwanted thought.
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If jackson deposits $1,000 in cash into his checking account, what is the immediate change in the money supply from this transaction?.
If Jackson deposits $1,000 in cash into his checking account, the immediate change in the money supply from this transaction is that the money supply does not change.
What is the money supply?Generally, The term "money supply" comes from the field of macroeconomics and refers to the total amount of cash that individuals and businesses have access to at any given moment.
There are a number of different ways to define "money," but conventional measurements often include both the currency that is currently in circulation as well as demand deposits.
At the time that the money supply is measured, all of the currency and other liquid instruments that are present in an economy are included in that total. Cash and deposits that are practically as easy to use as cash are both included in the broad definition of the term "money supply."
Treasury departments and central banks work together in some kind to produce paper money and coins for circulation in a nation's economy.
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sonja starts a small company and wants to use business ethics in all of her company dealings. business ethics is:
Sonja starts small company and wants to use the business ethics in all of her company dealings, business ethics is similar to the personal ethics used with family and friends.
What is business ethics?A subset of applied ethics, sometimes known as professional ethics, known as business ethics addresses moral and ethical dilemmas that could occur in a business setting. The behaviour of both individuals and entire companies is relevant, and it is applicable to all facets of business behavior. People, organizational pronouncements, or the legal system are the sources of these ethics. The guiding principles for a business are these customs, ideals, moral and immoral behavior. A person's actions and behavior within a commercial organization are governed by contemporary organizational standards, principles, sets of values, and conventions. Business ethics can be categorized into normative or descriptive dimensions. The field focuses mostly on norms as a business practice and a career speciality.
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technique, someone makes a large request, expects it to be refused, and follows it with a smaller one.
Foot-in-the-door, someone makes a large request, expects it to be refused, and follows it with a smaller one.
The “door-in-the-face” method is one instance of a income tactic that capitalizes on social norms, in this example the norm of reciprocity. This method entails setting out via way of means of asking anyone for an intense choose, after which, whilst that choose is refused, following it up with a miles smaller one.
Foot-in-the-door is whilst one makes a small request and, as soon as that request is agreed to, follows up with a bigger request. Had Tanya introduced her instructor an apple after which made her request she might were trying to capitalize on norms of reciprocity, the concept that one exact flip merits another.
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jonathan is a single taxpayer with modified adjusted gross income of $110,000 and an active participation rental real estate loss of $30,000. assuming he has no other source of passive income, what is his adjusted special allowance?
If Jonathan is a single taxpayer with a $110,000 modified adjusted gross income and a $30,000 active rental property. The adjusted special allowance, if he has no other passive income sources, is $25,000.
Given that he is a single taxpayer and has no additional sources of passive income, Jonathan's adjusted allowance will be $25,000 in total.
A person with modified adjusted gross income of $110,000 is characterized as having an adjusted special allowance of $25,000 in total.
As a result, Jonathan, a single taxpayer, would have a rental property with an active participation of $30,000 and a modified adjusted gross income of $110,000. The adjusted special allowance, if he has no other passive income sources, is $25,000.
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______ represents the degree to which employees are accepted and treated fairly by their organization.
The level of inclusion reflects how well-liked and equitably treated people are in their firm.
What does it mean to have an inclusive and equitable workplace?No matter who they are or what they do for the business, everyone should feel supported and involved in all aspects of a diverse and inclusive workplace. Important here is the word "all areas."
What are some ways to demonstrate equity and inclusion at work?Guidelines for fostering inclusion, equity, and diversity in the workplace
Unconscious bias should be considered.Stress the value of preventing prejudice in communication.advocate for pay equity.Create an effective training program.Respect all civilizations' holidays.Make joining employee resource groups simple for your employees.Mix up your teams.Exactly why is workplace inclusivity crucial?The benefits of inclusion include improved employee satisfaction, increased staff innovation, improved leadership skills and capacities, and increased feelings of belonging. In order to attract and keep the kind of talent needed for a business to prosper, Savage added, "an inclusive culture is vital."
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which of the following statements is consistent with findings of studies investigating ownership of medical businesses among physicians?
The correct statements are consistent with the findings of studies investigating ownership of medical businesses among physicians:
b. Physician-owned facilities tend to do more procedures per patient and charge higher fees.
c. Physician referral to facilities in which they have a financial interest is increasingly common.
A physician (American English), medical practitioner (Commonwealth English), medical doctor, or simply doctor, is a health professional who practices medicine, which is concerned with promoting, maintaining, or restoring health through the study, diagnosis, prognosis, and treatment of disease, injury, and other physical and mental impairments. Physicians may focus their practice on certain disease categories, types of patients, and methods of treatment—known as specialties—or they may assume responsibility for the provision of continuing and comprehensive medical care to individuals, families, and communities—known as a general practice.
Medical practice properly requires both a detailed knowledge of the academic disciplines, such as anatomy and physiology, underlying diseases and their treatment—the science of medicine—and also a decent competence in its applied practice—the art or craft of medicine.
Complete question:
Which of the following statements is/are consistent with findings of studies investigating ownership of medical businesses among physicians?
a. Physician ownership is rare due to conflict of interest.
b. Physician-owned facilities tend to do more procedures per patient and charge higher fees.
c. Physician referral to facilities in which they have financial interest is increasingly common.
d. Both b and c are correct.
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which of the following is an advantage of a sole proprietorship? select one. question 4 options: a. ease of selling business assets b. limited liability c. business income not subject to self-employment tax d. all of the above
ANSWER: Advantage of a sole proprietorship is ease of selling business assets.
WHAT IS SOLE PROPRIETORSHIP?A sole proprietorship is an unincorporated business with a single owner that is required to file personal income tax on business profits. It is sometimes referred to as a solo trader or a proprietorship. Since they are not required to use a distinct business or trade name, many sole owners conduct business under their own names.
Due to the absence of governmental oversight, a sole proprietorship is the easiest business structure to establish or dissolve. In particular, consultants, single proprietors, and other independent contractors favor these company models for this reason. The majority of small firms are founded as sole proprietorships, and when they expand, they either remain that way or switch to a corporation or limited liability structure.
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display ads lets advertisers upload their own ads to the system, allowing advertisers greater control over the look and feel of their messaging. what are the two types of uploaded ads?
Advertisers upload their own ads to the system, allowing advertisers greater control over the look and feel of their messaging these are AMPHTML ads and image ads type of ads.
image adsThere are several examples of image advertising that we see in our daily lives. Many may be seen on large billboards placed near roads. Some examples include Honda, Mac, Bacardi, and Adidas, as well as Quit Smoking.
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Two major automobile manufacturers have produced compact cars with the same size engines. We are interested in determining whether or not there is a significant difference in the MPG (miles per gallon) of the two brands of automobiles. A random sample of eight cars from each manufacturer is selected, and eight drivers are selected to drive each automobile for a specified distance. The following data are used for this paired/matched sample t test.
Driver Manufacturer A Manufacturer B
1 32 28
2 27 22
3 26 27
4 26 24
5 25 24
6 29 25
7 31 28
8 25 27
After conducting the hypothesis test, given significance level of =0.05, we can conclude that:
a. Because the p-value is larger than the significance level of 0.05, we fail to reject the null hypothesis and conclude that there is no significant evidence that the two brands have different MPG’s.
b. Because the p-value is larger than the significance level of 0.05, we fail to reject the null hypothesis and conclude that the two brands have same MPG’s.
c. Because the p-value is smaller than the significance level of 0.05, we reject the null hypothesis and conclude that there is significant evidence that the two brands have different MPG’s.
d. Because the p-value is larger than the significance level of 0.05, we reject the null hypothesis and conclude that there is significant evidence that the two brands have different MPG’s
The correct option is option B
Driver A B Difference
1 32 28 4
2 27 22 5
3 26 27 -1
4 26 24 2
5 25 24 1
6 29 25 4
7 31 28 3
8 25 27 -2
Average = 2.00
Std dev = 2.507
Test statistic = 2.256
df = 7
P - value = 0.059
So, the following alternative is correct
b. Because the p-value is larger than the significance level of 0.05, we fail to reject the null hypothesis and conclude that the two brands have the same MPG's
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how does international expansion provide companies with a competitive advantage? (select all that apply.)
Companies also choose worldwide expansion to advantage an side over their competition. as instance, groups that enlarge in markets in which their competition do now not function often have a first-mover gain, which permits for them to construct robust emblem awareness with purchasers earlier than their competition can do so.
A company , abbreviated as co., is a prison entity representing an affiliation of people, whether herbal, prison or a mixture of both, with a selected objective. agency participants share a not unusual cause and unite to attain specific, declared desires.
An organization is a felony entity fashioned by a collection of individuals to engage in and operate a business—business or industrial—corporation. A agency can be prepared in numerous approaches for tax and economic legal responsibility functions relying at the company law of its jurisdiction.
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What type of corporation is formed for the purpose of doing a public service instead of making money?.
Any independent organization that does not exist solely to generate profits for its directors, members, or shareholders is referred to as a "not-for-profit organization" in the broadest sense of making money
It's likely that you may hear the terms "nonprofit" and "not-for-profit" spoken when founding a business. It's also simple to believe that these two names have the same meaning of making money . Nonprofits and not-for-profits, however, are corporate formations with various tax ramifications, modes of operation, and roles. These two organizations set themselves apart from for-profit ones. Here are the specific definitions of each term so you can decide which structure is best for your new business. A nonprofit organisation is one that the IRS deems to be eligible for tax-exempt status due to its focus on advancing social causes and serving the general welfare.
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Cabell Products is a division of a major corporation. Last year the division had total sales of $25,720,000, net operating income of $2,124320, and average operating assets of $6,400,000. The company's minimum required rate of return is 12%. The division's turnover is closest to: Multiple Choice 12.11
4.02
0.33
2.77
Profit Margin = Net operating income / Total sales
Margin = $2,124320/ $25,720,000 = 8.25%
Thus, the division's turnover is closest to 8.25%.
What is Profit Margin?
One of the frequently employed profitability statistics to determine how profitable a firm or a particular business activity is profit margin. It shows what portion of sales resulted in earnings. Simply put, the percentage value shows how much profit the company made for each dollar of sales—in cents. For instance, if a company declares a 35% profit margin for the most recent quarter, it indicates that it earned $0.35 in net income for every dollar of sales.
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adam owes $125,000 on his home. it's currently worth $340,000. how much equity does adam have in his home?
Adam has a mortgage balance of $125,000. It's worth $340,000 right now. Adam owns a house worth $215,000.
What is a mortgage balance?A mortgage balance is the total amount payable at any point in the mortgage's term and is made up of the principle balance plus any accumulated interest. The equity in a home is determined using the mortgage balance. The equity in a home is calculated by deducting the mortgage balance from the home's market value. When refinancing, selling your house, or applying for a home equity loan, the first step is typically determining your mortgage balance. To verify your balance and determine the amount of equity you have in your property, the lender will need a copy of your most recent mortgage statement.
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harold worked for which was one of three feeder funds that invested a significant amount of money with tom petter's company.
Harold worked for Lancelot investment which was one of three feeder funds that invested a significant amount of money with Tom Petter's company.
Lancelot du Lac (French for Lancelot of the Lake), additionally written as Launcelot and different variations (which include early German Lanzelet, early French Lanselos, early Welsh Lanslod Lak, Italian Lancillotto, Spanish Lanzarote del Lago, and Welsh Lawnslot y Llyn), is a person in a few variations of Arthurian legend, where he's usually depicted as King Arthur's close companion and one of the greatest Knights of the spherical desk. in the French-inspired Arthurian chivalric romance tradition, Lancelot is an orphaned son of King Ban of the misplaced kingdom of Benoit, raised in the fairy realm by way of the girl of the Lake.
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