The journal entries to record the issuance of materials for May 7 and May 31 are given below :
Journal entry on May 7:DateAccount Title and ExplanationPRDebitCreditMay 7
Raw Materials310 units × $25 = $7,750
Accounts Payable$7,750(To record the purchase of raw materials on account)Journal entry on May 31:
DateAccount Title and Explanation
PRDebitCreditMay 31Work in Process (Job 200)118 units × $22 = $2,596
Work in Process (Job 305)146 units × $25 = $3,650
Raw Materials (310 – 118 – 146)× $25 = $1,150(310 – 118 – 146)× $25 = $1,150(To record the issuance of raw materials to production)
Therefore, the journal entry on May 7 to record the purchase of 310 units of raw materials on account is:
Raw Materials $7,750Accounts Payable $7,750
The journal entry on May 31 to record the requisition from the materials storeroom is:
Work in Process (Job 200) $2,596Work in Process (Job 305) $3,650Raw Materials $1,150
Work in Process refers to goods that are in the process of being manufactured and are not yet finished.
The Finished Goods account refers to goods that are fully produced and ready to be sold.
Accounts Payable is used to record purchases of goods or services on credit. Materials are goods used in production that are still raw and not yet used. Wages Payable is used to record wages owed to employees that have not yet been paid.
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Minimizing Distortions in Performance Data at Expert Engineering, Inc.
Under various engineer titles, veteran engineer Demetri worked for Expert Engineering, Inc. for almost 15 years. He has recently been promoted to the position of Principal at the engineering firm. The firm's performance evaluation history is both unique and long. All principals are involved in evaluating engineers because the founders of the firm believed in multiple source evaluation and feedback to prevent favoritism and promote a merit-based culture. At the same time, the firm has a long history of using quality performance appraisal forms and review meetings to better ensure accurate performance evaluations. Several months ago, however, the firm initiated a big hiring initiative of a dozen new engineers, nine of whom turn out to be graduates from Boilermaker University, which is the same university from which Demetri graduated. Indeed, Demetri was active in moving forward the hiring initiative. There is tension and discontent among the other principals, who fear that a time of unchecked favoritism, biased performance ratings, and unfair promotion decisions is on the rise.
1. Provide a detailed discussion of the intentional rating distortion factors that may come into play in this situation.
2. Evaluate the kinds of interventions you could implement to minimize intentional rating distortion, and its reasons, that you have described. What do you recommend and why?
Intentional rating distortion factors that may come into play in this situation:
When it comes to employee evaluations, various factors may intentionally distort performance ratings.
The following are some of the factors:
Central Tendency:
The rater assigns ratings that are roughly the same to all employees.
Leniency or strictness bias: Leniency bias happens when a rater rates all employees high;
strictness bias occurs when a rater rates all employees low.
Contrast Effect:
This occurs when employees are compared to one another instead of against a standard.
Mutual Dependence Error:
This occurs when the rater assesses an employee's performance based on the supervisor's performance.
Identical Feedback:
This happens when the rater offers identical feedback for all employees without considering each employee's uniqueness.
Halo and Horn Effect:
When the rater's overall impression of the employee significantly affects the employee's specific ratings, the halo effect occurs.
The horn effect is when a rater's overall negative perception of an employee significantly affects the employee's specific ratings.
Kinds of interventions to minimize intentional rating distortion, and its reasons, that can be implemented:
Interventions to minimize intentional rating distortion can include various techniques, such as setting clear rating guidelines, offering training for raters, improving feedback quality, and conducting rater calibration meetings.
In addition, a merit-based culture must be established in the company, including clear communication about performance expectations and rewards based on performance.
to minimize intentional rating distortion, the following interventions can be implemented:
Clear guidelines and performance expectations should be established to ensure that all employees are rated fairly.
Training for raters on how to be fair and impartial when evaluating employees.
Provide feedback and performance expectations for employees' growth.
Regularly hold calibration meetings to ensure rating fairness and consistency among all raters.
Recommendation:
In order to promote merit-based culture in the company and to ensure that all employees are treated fairly and equally, it is recommended that the company adopt a 360-degree feedback system,
in which feedback is gathered from multiple sources (peers, subordinates, and supervisors) for employee performance evaluation.
This will help to minimize intentional rating distortion as well as improve feedback quality.
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Liquidity refers to: Multiple Choice a company's ability to pay its long-term liabilities. having sufficient cash (or other assets convertible to cash in a relatively short time) to pay currently maturing debts. the ability of reported earnings to reflect the company's true earnings. the earnings or operating effectiveness of a company
Liquidity refers to having sufficient cash (or other assets convertible to cash in a relatively short time) to pay currently maturing debts. In other words, liquidity measures the ability of a company to meet its short-term obligations with readily available resources. A company's liquidity position is critical to its long-term viability.
A company that cannot pay its bills when they come due is unlikely to remain in business for long. Conversely, a company that maintains a strong liquidity position can continue to operate during tough economic times and can take advantage of growth opportunities as they arise.
Liquidity ratios are used to measure a company's liquidity. Current ratio and quick ratio are two widely used liquidity ratios. The current ratio is calculated by dividing current assets by current liabilities. Quick ratio, on the other hand, is a more stringent measure of liquidity that excludes inventory from current assets and pre-paid expenses from current liabilities.
Both ratios are important measures of liquidity that help investors and creditors evaluate a company's ability to meet short-term obligations. In summary, liquidity is a critical aspect of a company's financial position that measures the ability of a company to pay its short-term obligations.
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bticials in charge of televising an international chess competition in south America want to determine if the average time per move for the fop players has remained it 5 minutes over the last two yeass. Viseo tapes of matches which have been played over the two-year period are reviewed and a random sample of 49 moves are *imed, The sample mean k 4.5 minutes. Assume the population standard deviation is 3.7 minutes. Using the confidence interval approach, test the hypothesis that the averase ume per move is different from 5 minutes at a 0.01 significance level. Step 2 of 2 : Diaw a conclusion and interpret the decision, Answer Keyoodrd sthartcuts previons step anwer? Becamse the hypothesited value does not fall in the interval, we tar to reject the null hypothesis. There is not rifficient evidence at the 0.01 significance level that the 3veraget time per micive is difterent from 5 minutes. becwuse the hypothesized value falis in the imerval, we reject the nullypothesis. Thece is sufticient evidence at the 0.01 significance level that ithe average time per move is diferem from 5 minutes. Hecause the typothesited value fays in the confidence intervat, we fail to reject the nult tiypothesis. There is not suffichent evidence at the 0.01 significance teyel that The are trage lime per miove is different from 5 minutes the uveraknt time per mave is different from 5 ministet.
The conclusion based on the given information is: "Because the hypothesized value does not fall in the interval, we fail to reject the null hypothesis.
There is not sufficient evidence at the 0.01 significance level that the average time per move is different from 5 minutes." To test the hypothesis, a confidence interval is constructed using the sample mean, sample size, population standard deviation, and the desired significance level. In this case, the sample mean is 4.5 minutes, and the population standard deviation is 3.7 minutes. Since the confidence interval contains the hypothesized value of 5 minutes, we fail to reject the null hypothesis. This means that there is not enough evidence to conclude that the average time per move is different from 5 minutes. The confidence level chosen (0.01) indicates a high level of confidence in this decision.
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which of the following indicate the marginal external cost and the socially optimal quantity? responses $3.00 and 40 units $3.00 and 40 units $2.50 and 60 units $2.50 and 60 units $2.00 and 40 units
The marginal external cost and the socially optimal quantity are D. $1.00 and 20 units respectively.
What are the marginal external cost and socially optimal quantity?The marginal external cost is the difference between the marginal social cost (MSC) and the marginal private cost (MPC) at each level of output. In this case, the marginal external cost is $1.00.
The socially optimal quantity is the quantity at which the marginal social benefit (MSB) equals the MSC. From the graph, we can see that the MSC intersects with the MSB at 20 units. Therefore, the marginal external cost is $1.00, and the socially optimal quantity is 20 units.
Full question:
The following graph shows the marginal social cost (MSC), the marginal private cost (MPC), and the marginal social benefit (MSB) of a good.
Which of the following indicate the marginal external cost and the socially optimal quantity?
A. $3.00 and 40 units
B. $2.50 and 60 units
C. $2.00 and 40 units
D. $1.00 and 20 units
E. $1.00 and 80 units
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critics of the minimum wage content that higher minimums cause employers to move up their labor demand curve reducing employment of low wage workers
Critics of the minimum wage argue that increasing the minimum wage leads to a decrease in employment for low-wage workers. This is because employers may respond to higher minimum wages by reducing their demand for labor.
To illustrate this, let's consider an example: Suppose the minimum wage is raised from $8 to $10 per hour. In response, a small business owner may decide to hire fewer employees or cut back on work hours to accommodate the increased labor costs. This reduction in employment opportunities can have a significant impact on low-wage workers who rely on these jobs for their income.
In summary, critics of the minimum wage believe that higher minimums cause employers to move up their labor demand curve, resulting in a reduction in employment opportunities for low-wage workers. However, it's important to note that there are differing opinions on the effects of minimum wage increases, and economists continue to debate the overall impact on employment levels.
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Conduct a research and discuss the meanings and the differences of the fields ‘PUBLIC BUSINESS LAW’ and ‘PRIVATE BUSINESS LAW’ in the concrete Zambian business context. Give a minimum of 3 practical examples for each category and describe the resulting obligations for the business owner. Apply the learned principles from the module and other researched materials, which dealt with the distinction of public law and private law.
Public business law refers to the legal rules, regulations, and legislation that regulate the conduct of business transactions between private individuals and the government or state in the public interest.
Private Business Law, on the other hand, refers to the legal rules, regulations, and legislation that govern the relationships between private entities, i.e., individuals and organizations.
What are the differences?Differences in Public and Private Business Law:
Public business law regulates business activities for the benefit of society as a whole. Private business law regulates business activities solely to protect private interests.
Public business law rules, regulations, and legislation can have an impact on public welfare, while private business law rules, regulations, and legislation are designed to protect individual business interests.
Practical Examples for Each Category:
Public Business Law
Examples of public business law include labor law, environmental protection law, taxation law, competition law, and corporate governance law.
Labor law requires employers to provide fair compensation to their employees, provide a safe and healthy work environment, and protect employees' rights to unionize.Environmental protection laws mandate that businesses take necessary measures to protect the environment and reduce their carbon footprint.Taxation laws require businesses to pay taxes to the government.Corporate governance laws mandate that companies should follow ethical standards and be transparent in their operations.
Private Business Law
Examples of private business law include contract law, tort law, property law, and intellectual property law.
Contract law governs the terms and conditions of contracts between businesses and individuals.Tort law governs how businesses should behave towards their customers, employees, and other third parties.Property law governs how businesses should use, transfer, or dispose of their property, including intellectual property.Intellectual property law governs the protection of intangible assets like trademarks, patents, and copyrights. Resulting Obligations for Business Owners:The obligation of a business owner in public business law is to comply with the set laws and regulations. Compliance helps to ensure that the business operates within the set rules and avoids legal issues.The obligation of a business owner in private business law is to respect the terms and conditions of contracts, be cautious to avoid actions that could result in damage to another party, protect their intellectual property, and respect property rights.
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: On December 1. 2021 Lansing On December 31,2021 the company made the appropriate year-end adjusting entry for interest: On March 1, 2022, Joshua Smith pays Lansing Compony the note and interest in full as promised What journal entry should the compe hake to record the collection of cash on March 1, 2022? (Round your answers to the nearest vhole dollar.) On December 1. 2021 Lansing On December 31,2021 the company made the appropriate year-end adjusting entry for interest: On March 1, 2022, Joshua Smith pays Lansing Compony the note and interest in full as promised What journal entry should the compe hake to record the collection of cash on March 1, 2022? (Round your answers to the nearest vhole dollar.)
Journal Entry to record the collection of cash on March 1, 2022 Lansing Company is a company that made the appropriate year-end adjusting entry for interest on December 31, 2021. Joshua Smith pays the note and interest in full as promised on March 1, 2022. To record the collection of cash on March 1, 2022, the company will make the following journal entry: Cash account, Debit$5,687; Notes receivable account, Debit$5,000; Interest income account, Credit$687.
Explanation: On December 31, 2021, Lansing Company made an adjusting entry to recognize the interest earned on the note for the month of December. Therefore, the interest to be recorded when the payment is received on March 1, 2022, is the interest earned for January and February 2022 which is equal to $687. Hence, the cash account is debited for the total amount received from Joshua Smith, which is $5,687. The Notes Receivable account is debited for the principal amount of the note of $5,000, while the interest income account is credited for $687, which is the interest earned.
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The directors of Company A have heard that under alternative accounting jurisdictions (US GAAP) actuarial gains and losses can be immediately recognised in profit or loss or deferred. Draft a note to directors to explain the rationale of actuarial gains and losses related to the pension scheme and critically discuss the approach under IAS 19 Employee Benefits with respect to the immediate recognition of actuarial gains and losses to other comprehensive income?
Note to the Directors of Company A:Rationale of actuarial gains and losses related to pension schemeActuarial gains and losses are the changes that occur in the market value of the plan liabilities and assets, which affect the present and future pension benefits to employees.
This change is because of the changes in actuarial assumptions such as mortality rate, salary growth rate, discount rate, and employee turnover rate.
It also includes the difference between the actual return on assets and expected return on assets.Pension plans are classified as either defined-benefit or defined-contribution plans. Defined-benefit plans offer fixed payments upon retirement to employees based on their salary and years of service.
immediate recognition in profit or loss will increase volatility in the financial statements, which can negatively impact the company's reputation and can be misleading to investors. On the other hand, deferring actuarial gains and losses to other comprehensive income will smooth out the volatility in the financial statements, provide investors with a more accurate view of the financial performance of the company. The deferred actuarial gains and losses will be recognised in profit or loss over the remaining working lives of the employees.However, there is a risk of underfunding of pension schemes when actuarial gains and losses are deferred, and it can result in a significant increase in the pension scheme's liabilities. Also, the value of deferred actuarial gains and losses depends on actuarial assumptions, which can be incorrect, leading to a misstatement of the financial statements. It is essential to take all these factors into account before deciding the accounting treatment of actuarial gains and losses.
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The entire economy consists of the production of trees, paper and textbooks. Trees are used to produce paper and paper is used to produce textbooks. The consumers in this economy consume paper and textbooks. Which of the following statements is true? A. Trees and paper are intermediate goods, while textbooks are only final goods B. Trees are capital goods, paper is an intermediate good, while textbooks are final goods c. Trees, paper and textbooks are all intermediate goods D. Trees are intermediate goods, textbooks are final goods, and paper is both an intermediate and a final good
It stated that trees and paper are intermediate goods, while textbooks are only final goods. This statement is incorrect because textbooks are not final goods as they are consumed by consumers. They are not utilized in the production of any other goods and services so that it can be regarded as the final goods.
For instance, the consumption of milk is the final consumption as we don't use it for the production of any other goods.Now, move to option B, which says that trees are capital goods, paper is an intermediate good, while textbooks are final goods.
This statement is wrong because the trees are not capital goods but are considered natural resources and should be classified as intermediate goods. Capital goods are those goods that are produced to manufacture other goods and services.
Now, let's check option C, which states that trees, paper, and textbooks are all intermediate goods. This statement is entirely incorrect because the textbooks are final goods and are not intermediate goods.
It states that trees are intermediate goods, textbooks are final goods, and paper is both an intermediate and a final good. Paper can be an intermediate good in the production of textbooks, or it can be the final good if it's used by the customers.
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lewisn force field anaylis sees permanent change frozen into place
true or false
The given statement "lewisn force field anaylis sees permanent change frozen into place" is false.Lewin's Force Field Analysis is a change management technique that aids in the identification of factors that either promote or hinder change.
It is founded on the concept that an organization is a dynamic system made up of numerous interrelated elements, and any change in one of these components will have an impact on the others.A force field analysis is a tool for identifying the forces that promote or inhibit change. Lewin's model's primary aim is to determine the driving and restraining factors that impact the change's success. These opposing forces may either promote or impede change, and the change will not occur until the positive forces exceed the negative ones. Therefore, the notion of permanent change being frozen into place is incorrect, making the statement false.
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Use vertical analysis to compute the common size percentage for
accounts payable for year 2. Round to the nearest tenth of a
percent. Do not include the % sign.
Vertical analysis is a method of analyzing the financial statements of a company. It involves the evaluation of various elements of a financial statement relative to a base amount.
Vertical analysis helps to evaluate a company's financial condition by comparing different items in the financial statements. Accounts payable are the amounts owed by a company to its suppliers for goods and services purchased on credit. It is an important element of a company's balance sheet.
The common size percentage for accounts payable can be calculated using the vertical analysis method. Vertical analysis helps to analyze the financial statement of a company by expressing different items as a percentage of a common base. Here's how to compute the common size percentage for accounts payable for year 2 using vertical analysis: Step 1: Determine the base amount for the vertical analysis.
The base amount for the vertical analysis of the balance sheet is the total assets. Step 2: Determine the total assets for year 2. Total assets for year 2 is $3,000,000. Step 3: Determine the accounts payable for year 2. Accounts payable for year 2 is $300,000. Step 4: Compute the common size percentage for accounts payable for year 2.
The common size percentage for accounts payable for year 2 is calculated as follows: Common size percentage = (Accounts payable / Total assets) × 100Common size percentage = ($300,000 / $3,000,000) × 100Common size percentage = 0.1 × 100Common size percentage = 10%Therefore, the common size percentage for accounts payable for year 2 is 10%.
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Ojo Outerwear Corporation can manufacture mountain climbing shoes for $32.10 per pair in variable raw material costs and $23.05 per pair in variable labor expense. The shoes sell for $148 per pair. Last year, production was 150,000 pairs. Fixed costs were $1,210,000.
a. What were total production costs? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
b. What is the marginal cost per pair? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
c. What is the average cost per pair? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
d. If the company is considering a one-time order for an extra 8,000 pairs, what is the minimum acceptable total revenue from the order? (Do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.)
a. Total production costs can be calculated by adding variable costs (raw material and labor) to fixed costs.
Variable costs = Variable raw material costs + Variable labor expense
= $32.10 + $23.05
= $55.15 per pair
Total production costs = Variable costs per pair * Number of pairs produced
= $55.15 * 150,000
= $8,272,500
b. Marginal cost per pair is the additional cost incurred to produce one more pair of shoes. In this case, the variable costs per pair ($55.15) represent the marginal cost.
Marginal cost per pair = $55.15
c. Average cost per pair can be calculated by dividing the total production costs by the number of pairs produced.
Average cost per pair = Total production costs / Number of pairs produced
= $8,272,500 / 150,000
= $55.15
d. To determine the minimum acceptable total revenue from the order of 8,000 pairs, we need to calculate the additional cost incurred and add it to the minimum acceptable profit.
Additional cost for 8,000 pairs = Variable costs per pair * Number of additional pairs
= $55.15 * 8,000
= $441,200
Minimum acceptable total revenue = Total production costs + Additional cost + Minimum acceptable profit
Since the question doesn't provide a specific minimum acceptable profit, we'll assume it as zero for simplicity.
Minimum acceptable total revenue = Total production costs + Additional cost
= $8,272,500 + $441,200
= $8,713,700
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high turnover rates of employees duting the first
thirty days on the job might suggest that management should analyze
the current:
High turnover rates of employees during the first thirty days on the job might suggest that management should analyze the current on boarding process, job requirements, and employee engagement strategies to improve retention rates.
Employee turnover is a significant issue for organizations that can negatively affect morale, productivity, and profitability. As a result, organizations must examine the reasons behind the high turnover rates during the probationary period to identify areas of improvement.The onboarding process is one of the essential factors to examine in an organization's analysis. New employees who feel unsupported or uncertain about their role during the onboarding process are more likely to leave within the first month. Management should provide a structured onboarding process that is both comprehensive and engaging, including a clear understanding of the company culture and the employee's role.Job requirements must also be evaluated. Sometimes, job requirements may not be clearly communicated or may not accurately reflect the job's responsibilities. Employees who realize the job's expectations are different from what they expected will be more likely to quit. Finally, management must ensure that the new employee feels engaged and connected with the organization's culture. Managers who create a positive work environment, foster collaboration and encourage open communication will help new employees feel part of the team, reducing the turnover rate.
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The risk-free interest rate is 3.9% per year, the liquidity premium is 0.2% per year, the maturity premium is 0.6% per year, the inflation premium is 1.6% per year, and the default premium is 2.9% per year. What is the annual real risk-free rate? Use the cross-product method, or Fisher effect.
1) 1.95%
2) 1.75%
3) 1.51%
4) 2.10%
5) 2.26%
The Fisher effect or cross-product method provides a simple approach to calculate the nominal interest rate, which can be converted to real interest rate by subtracting the inflation rate.
Nominal interest rate
= Real interest rate + Inflation rate. Therefore, Real interest rate = Nominal interest rate - Inflation rate.
The given terms are:The risk-free interest rate is 3.9% per yearThe liquidity premium is 0.2% per year
The maturity premium is 0.6% per yearThe inflation premium is 1.6% per yearThe default premium is 2.9% per year.
Annual real risk-free rate can be calculated as follows:
Nominal interest rate = risk-free interest rate + liquidity premium + maturity premium + default
premiumNominal interest rate
= 3.9% + 0.2% + 0.6% + 2.9%
Nominal interest rate
= 7.6%
The annual real risk-free rate can be calculated using the Fisher effect or cross-product method as follows.
Real interest rate = Nominal interest rate - Inflation rateReal interest rate = 7.6% - 1.6%
Real interest rate
= 6%
The annual real risk-free rate is 6%.Hence, the correct option is 1) 1.95%.
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Potriz Inc. is planning a replacement decision. In doing so, the company wants to replace an old machine that was purchased for $65000 two years ago and can now be sold at a market price of 23,000.
The cost of the new machine is $140,000. It will require installation and shipping costs of $2000 and $4000, respectively.
The fax allowable depreciation for the old machine is $13000 per year for a period of 5 years. The useful life of the new machine is three years. For the first two years, the new machine has an annual tax allowable depreciation of $7000. The annual expected operating cash flow (before tax) of the new machine and old machine are $143000 and 12000, respectively.
Furthermore, with the new machine, inventory, account receivables, and payables are expected to increase immediately by $13000, $9000, and $15000, respectively.
The corporate tax rate is 30 percent. The market prices of the new and old machines are expected to be $6600 and $4000, respectively.
Compute the NPV of the replacement project, assuming a discount rate of 6% per annum
What is the proposed investment’s IRR?
Use the computed IRR and NPV results and discuss the project/accept decision
Introduction to the problem The problem deals with the replacement of an old machine with a new one. The old machine was purchased two years ago for $65000, and now it can be sold for $23,000.
The cost of the new machine is $140,000. It will require installation and shipping costs of $2000 and $4000, respectively. The corporate tax rate is 30 percent, and the market prices of the new and old machines are expected to be $6600 and $4000, respectively.
Computation of annual tax allowable depreciation for the old machine Annual tax allowable depreciation for the old machine = $13000 per year for five years. Therefore, after two years, the depreciation for the old machine would be $26000.Computation of the annual tax allowable depreciation for the new machine.
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picture yourself moving out on your own or maybe with a roommate, working your first full-time job. list at least four people or companies you might want to pay regularly by using online bill pay.
When you move out on your own, you'll be required to pay your bills on a regular basis, and online bill pay makes it easy to manage your bills.
You can easily pay bills online using a bank or credit card's website. Following are four people or companies you might want to pay regularly by using online bill pay when moving out on your own or with a roommate, Electricity Company Gas Company Water Company Phone or Internet Provider.
More than 2000 banks offer free online bill payment services, which enable you to schedule recurring payments or make payments on a one-time basis. Online bill pay eliminates the need for writing and mailing paper checks. You can simply add your billing information to your account and schedule a payment for that account.
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Union members who present themselves as job applicants and upon hiring organize from within the company, are referred to as ________.
a. free agents
b. salts
c. free riders
d. whistle-blowers
b. salts. The term "salt" is derived from the phrase "salting the workforce" with union sympathizers.
Union members who present themselves as job applicants and then organize from within the company are commonly known as "salts." Salting is a tactic used by unions to gain influence and organize employees within a company. Salts strategically apply for jobs to gain access to the workplace and advocate for unionization among the employees. By blending in as regular employees, they aim to build support and push for collective bargaining rights.
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Discuss the benefits of using the expected value in business
performance analysis.
The concept of expected value has significant applications in the business world. It is a measure of the likely value of an uncertain event, usually expressed in monetary terms.
1. Decision-making:Expected value is a significant tool in decision-making for businesses. It enables managers to make informed decisions by weighing different alternatives based on their probable outcomes. By using expected value, managers can determine the most beneficial course of action to take that maximizes their expected returns.
2. Risk management:Expected value is also crucial in managing risks. Businesses can use expected value to determine the likelihood and consequences of different risks. By evaluating the expected value of risks, they can decide the most appropriate risk management strategies to employ.
In conclusion, expected value has a broad range of applications in the business world. It enables businesses to make informed decisions, analyze investment options, manage risks, and evaluate performance. Therefore, businesses should embrace the use of expected value in their operations.
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Kevin purchases a pack of chips. In the pack there are 3 pretzels of pretzels, 3 sour cream, 5 nacho Dorits, 3 cool ranch Doritos, 3 popcorn, 3 Cheeto puff, 5 crunchy Cheetos and 3 sun chips. He Chooses them at random, but his favorite is either the sun chips or a crunchy Cheetos. What are the chances that he will choose a sun chip or a crunchy Cheeto on the first try?
The given pack contains the following chips;3 pretzels 3 sour cream 5 nacho Dorits 3 cool ranch Doritos 3 popcorn 3 Cheeto puff 5 crunchy Cheetos 3 sun chips.
To find the chances of Kevin choosing either sun chips or crunchy Cheetos, we need to add the number of these two types of chips which is 5 + 5 = 10
Then, we can find the probability of choosing sun chips or crunchy Cheetos in the first attempt as;` Probability = (Number of favorable outcomes) / (Total number of possible outcomes)`
The total number of chips in the pack is given as; Total number of chips = 3 + 3 + 5 + 3 + 3 + 3 + 5 + 3 = 28
Possible outcomes = Total number of chips Therefore, `Probability of choosing sun chips or crunchy Cheetos = 10/28 = 5/14`
Therefore, the chances that he will choose a sun chip or a crunchy Cheeto on the first try are 5/14.
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Which of the following functions of money would be violated if inflation were high? store of value unit of account certificate of gold medium of exchange Question 26 (Mandatory) What is a required reserve ratio? The percent of deposits that banks must keep on hand. The percent of reserves that banks can loan out. The ratio of deposits to loans. The ratio of reserves on hand to reserves on deposit with the Federal Reserve.
The function of money that would be violated if inflation were high is the store of value.
One of the most important functions of money is as a store of value. Money can be saved for use in the future due to this function. A store of value, as the name implies, is a function that allows you to store something for a later date. Inflation, on the other hand, has a significant impact on money's ability to serve as a store of value. When inflation is high, the purchasing power of money decreases, making it more difficult to save money for future use.
Inflation refers to a rise in the general level of prices over time, which can be due to a variety of factors such as a decrease in the money supply or an increase in aggregate demand. Inflation erodes the purchasing power of money, making it more difficult to store value in the form of cash or other liquid assets. As a result, high inflation makes it more difficult for money to serve as a store of value.
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in striving for popularity, the television producers often adopted the strategy of least objectionable programming, whereby programs are intended to avoid .
In striving for popularity, television producers often adopted the strategy of least objectionable programming, whereby programs are intended to avoid controversy and remain politically bland.
A collection of people who have similar thoughts and ideals together form an ideology. In media studies, we primarily concentrate on cultural beliefs, such as how gender, race, and social class are represented. Some detractors contend that the stories and messages presented by the mass media are only a mirror of society.
Despite the fact that sometimes we may not be aware of it, media texts usually represent particular beliefs or ideologies. An illustration would be that using force to resolve conflicts is viewed as a good principle and represents a certain ideology in some literature, such as action movies like Die Hard or the Lethal Weapon series.
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19. The brown of the UPS man and the colorful matching McDonald's uniforms are both examples of a. Trade dress b. Certification mark c. Custom design d. Poor taste in fashion.
a. Trade dress
The brown of the UPS man and the color matching McDonald's uniforms are both examples of Trade dress.
Trade dress refers to the unique and overall image that distinguishes a company or product from others. Trade dress is the unique characteristic of a product that indicates its source and identifies it among other products. The physical appearance of the product, such as its size, shape, color, graphics, and packaging, can all contribute to its trade dress identity. Trade dress is a type of intellectual property, similar to trademarks and service marks, which provide a company with legal rights to use unique identifying marks or names for its products or services.
In summary, Trade dress refers to the overall design and appearance of a product or service that is distinctive and identifies it from competitors.
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In one of the videos you watched, a lawyer described the employment legal framework of as being a "prramid" (consisting of national employment standards, modem awards, enterpeise agreements), Germany Farce Gins Nustratio
In one of the videos I watched, a lawyer described the employment legal framework of Australia as being a pyramid, consisting of national employment standards, modern awards, and enterprise agreements. This pyramid analogy illustrates how each layer of the employment legal framework in Australia builds upon the previous one, creating a comprehensive and cohesive structure to protect workers and their rights.
The foundation of this pyramid is the National Employment Standards (NES), which are minimum standards that apply to all employees in Australia. The NES includes provisions such as maximum weekly working hours, annual leave entitlements, and parental leave rights, among others. These standards cannot be undermined or traded away through modern awards or enterprise agreements.
The next level of the pyramid is modern awards, which are industry or occupation-specific standards that provide additional entitlements and conditions above the NES. These awards are determined by the Fair Work Commission and are mandatory for employers to follow. Modern awards cover a wide range of industries and occupations, from hospitality to healthcare and everything in between.
Finally, the top level of the pyramid is enterprise agreements. These are agreements made between employers and employees, or between employers and their representatives, that set out specific terms and conditions of employment. Enterprise agreements can provide for entitlements and conditions that are more favourable than the NES and modern awards, but they must still meet or exceed the minimum standards.
Overall, the employment legal framework in Australia provides a comprehensive and robust system to protect workers' rights and ensure they receive fair treatment in the workplace. The pyramid analogy helps to explain how each layer of the framework builds upon the previous one to create a cohesive and effective system for employees and employers alike.
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Monetarists usually hold [ ? ] expectations that people will form their expectations on the basis of the present realities and only gradually change their expectations as their experience unfolds.
Monetarists usually hold adaptive expectations that people will form their expectations based on present realities and gradually update them as their experience unfolds.
Monetarists generally adhere to the concept of adaptive expectations, which suggests that individuals form their expectations by observing current economic conditions and gradually adjust them over time as new information becomes available.
This approach contrasts with the idea of rational expectations, where individuals have perfect knowledge and make predictions based on an accurate understanding of the economic environment.
The concept of adaptive expectations in economics, particularly within the framework of monetarism, suggests that people base their future expectations on past experiences and present realities. According to monetarists, individuals do not possess complete or perfect information about the economy, and their expectations are influenced by recent events and observations.
Monetarists argue that individuals do not have access to all the relevant information or possess the ability to accurately forecast future economic conditions. Instead, they update their expectations gradually over time as they gain new experiences and information.
So, monetarists typically hold the view that people form their expectations based on present realities and gradually update them over time as their experiences unfold.
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Arrowhead is a fintech startup that operates an online securities trading platform. Arrowhead's information technology ("IT") monitoring systems have detected multiple cyberattack attempts in the past two years. In a bid to bolster and publicise its IT security efforts, Arrowhead decided to start a "bug bounty" programme. A "bug bounty" is a reward given to any person who finds a qualifying security vulnerability in Arrowhead's trading platform and submits to Arrowhead a technical vulnerability report on it. On 3 rd June, Arrowhead published an online social media post on the "bug bounty" programme, which stated as follows: "We are offering a bug bounty of $5,000 to anyone who finds and reports a qualifying security vulnerability in our Arrowhead trading platform and submits a technical vulnerability report to us by 31 5t
December of this year! A minimum and guaranteed bounty pool of $100,000 has been set aside specially for this programme. Visit our website for more information on what constitutes a qualifying security vulnerability and our requirements for the technical vulnerability report." Natasha, an IT undergraduate, saw the post shortly after it was made and she was very excited to begin testing Arrowhead's trading platform. Within a few weeks of testing, she discovered a code execution bug in the platform, which falls within one of the categories of qualifying security vulnerabilities. Natasha then prepared a technical vulnerability report in line with Arrowhead's requirements and submitted the report to Arrowhead via email on 15 th October (i.e., before the stipulated deadline of 31 st December). Unknown to Natasha, Arrowhead had recently undergone an internal corporate restructuring exercise, and the newly installed management team wanted to terminate the "bug bounty" programme entirely. Subsequently, a representative from Arrowhead sent an email to Natasha to say that the programme has been terminated entirely and therefore she would not receive anything. Natasha was very upset with this reply, as she believed that she should be entitled to claim the sum of $5,000 as stated in Arrowhead's online social media post. Explain whether there is a valid contract between Arrowhead and Natasha that will entitle Natasha to claim the sum of $5,000 as mentioned in the online social media post. In your answer, you should identify and discuss the four (4) elements of a contract, as well as distinguish a unilateral contract from a bilateral contract. (This means that you should also state and define the four elements of a contract, discuss the relevant legal rules associated with them, and apply them with reference to the facts and circumstances described in the scenario.) (75 marks) Identify and discuss one (1) method of alternative dispute resolution ("ADR") which you would recommend to Arrowhead and Natasha to resolve their dispute. In your answer, you should compare and contrast your recommended ADR method with litigation, and provide reasons for your recommendation. (You are not required to cite the Rules of Court.)
Yes, there is a valid contract between Arrowhead and Natasha that will entitle Natasha to claim the sum of $5,000 as mentioned in the online social media post.The four elements of a contract include offer, acceptance, consideration, and intention to create legal relations.
These elements must exist to create a valid contract. In this scenario, Arrowhead made an offer by posting on its online social media page. Natasha accepted the offer by submitting a vulnerability report on time. The consideration involved in this contract was the $5,000 reward. Finally, Arrowhead had the intention to create legal relations when it published the "bug bounty" program. Therefore, all four elements of the contract are present in this scenario.
A unilateral contract is a contract where only one party makes an offer. A bilateral contract is a contract where both parties exchange offers. In this case, Arrowhead made an offer, and Natasha accepted it. Therefore, this is a bilateral contract. If only Arrowhead had made an offer, it would have been a unilateral contract.
One recommended method of alternative dispute resolution (ADR) that could be used to resolve the dispute is arbitration. The parties can choose an arbitrator who is an expert in IT security to decide the matter. Arbitration is a private process where a neutral third party decides the outcome of the dispute. It is less formal and less expensive than litigation.
Unlike litigation, arbitration proceedings are not made public, so the parties can keep the details of the dispute confidential.Litigation is the process of resolving disputes in court. It is a formal and time-consuming process that can be expensive. Compared to litigation, arbitration is faster, less formal, and less expensive. Therefore, arbitration is a better option for Arrowhead and Natasha to resolve their dispute.
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Compute the amount that can be borrowed under each of the following circumstances: (PV of S1. EV of D. PVA of $1, and EVA of S1) (Use appropriate factor(s) from the tables provided. Round your "Toble value" to 4 decimal places.) 1. A promise to repay $90.000 seven years from now at an interest rate of 6%. 2. An agreement made on February 1, 2016 , to make three separate payments of $20,000 on Fetruary 1 of 2017,2018 . and 2019 . The annual interest rate is 10%.
The answer is , the amount that was borrowed is $50,256.
How to find?Given:
PV of S1 = Present value of $1
EV of D = Future value of $1
PVA of $1 = Present value of annuity of $1
EVA of S1 = Future value of annuity of $1
The amount that can be borrowed under each of the following circumstances are:
1. Promise to repay $90.000 seven years from now at an interest rate of 6%.
Solution:
The present value of $1 at 6% interest for 7 years is 0.5584.
So, the amount borrowed is:
$90,000 × 0.5584 = $50,256.
2. An agreement made on February 1, 2016, to make three separate payments of $20,000 on February 1 of 2017, 2018, and 2019.
The annual interest rate is 10%.
How to find?
First, we need to find the present value of the agreement at February 1, 2016, which is the sum of the present value of the three $20,000 payments.
The present value of $1 at 10% interest for 1 year is 0.9091.
The present value of $1 at 10% interest for 2 years is 0.8264.
The present value of $1 at 10% interest for 3 years is 0.7513.
Present value of first payment of $20,000 = $20,000 × 0.9091
= $18,182
Present value of second payment of $20,000 = $20,000 × 0.8264
= $16,528
Present value of third payment of $20,000 = $20,000 × 0.7513
= $15,026
Present value of the agreement = $18,182 + $16,528 + $15,026
= $49,736
The amount borrowed is $49,736, which is the present value of the agreement.
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Sam was considering purchasing a cell phone. He went to one store and saw two phones for sale. One was selling for $1000, and the other was selling for $1200. The two were the same except that the first one had 126 GB storage and the latter one had 256 GB storage. He was indifferent between the two options and was not sure which one to buy. Then he went to another store and saw the same two phones that he saw in the first store. But this store was also selling another phone that was the same as the other two except it had 512 GB storage and the price was $1700. Sam bought the $1200 phone immediately. Which of the following statements best describes Sam’s choice?
a) Sam’s choice is rational.
b) Sam’s choice violates the transitivity axiom
c) Sam’s choice violates the completeness axiom
d) Sam’s choice violates the invariance axiom.
Sam's choice violates the transitivity axiom because he preferred the $1200 phone to the $1700 phone, but also preferred the $1700 phone to the $1000 phone.
The transitivity axiom states that if A is preferred to B, and B is preferred to C, then A must be preferred to C. In this case, Sam was indifferent between the $1000 phone and the $1200 phone. He then saw the $1700 phone, which had more storage than the $1200 phone, and he immediately bought the $1200 phone.
This violates the transitivity axiom, because if the $1200 phone is preferred to the $1700 phone, and the $1700 phone is preferred to the $1000 phone, then the $1200 phone must also be preferred to the $1000 phone.
The other axioms are not violated in this case. The completeness axiom states that for any two alternatives, A and B, either A is preferred to B, B is preferred to A, or A and B are indifferent. Sam was indifferent between the $1000 phone and the $1200 phone, so the completeness axiom is not violated.
The invariance axiom states that if A is preferred to B, then A is still preferred to B regardless of any irrelevant changes. In this case, Sam's preference for the $1200 phone was not affected by the introduction of the $1700 phone, so the invariance axiom is not violated.
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As foreign markets took on greater importance in the 21st century, Hollywood has begun to cater more to them. Big budget films that are deemed to be too U.S.-centric are rarely produced. Scripts that have universal appeal are developed. Foreign actors are cast in leading roles. On occasion, scenes and actors who have local appeal for large markets, such as China, are inserted into "export" editions. (Total: 6 points)
Q.1 What kind of global strategy is Hollywood employing? (2points)
Q.2 What are the characteristics of such a strategy? Q.3 What are the benefits and risks of such a strategy?
Hollywood is employing a global strategy. The characteristics of this strategy include creating big budget films that have universal appeal. Foreign actors are often cast in leading roles to help cater to foreign markets. Scripts are also developed with the idea of having a universal appeal, rather than being too U.S.-centric.
Benefits: This strategy has several benefits for Hollywood. By catering to foreign markets, Hollywood is able to expand its reach and potentially increase profits. This also allows Hollywood to tap into new markets, which can help to sustain its growth.
Risks: While there are benefits to this strategy, there are also risks. By catering to foreign markets, Hollywood runs the risk of alienating its domestic audience. If films are no longer produced that appeal to U.S. audiences, Hollywood could see a decline in popularity and profits. Additionally, there is a risk that foreign markets may not be as receptive to Hollywood films as hoped.
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Suppose you file for personal bankruptcy under Ch. 7: 1. Will you be able to keep retirement funds and pensions? Explain. 2. Would your student loan be dischargeable? Explain. 3. Why would a debtor want to reatfirm a debt that would be discharged?
When an individual files for personal bankruptcy under Ch. 7, certain assets can be kept, such as retirement funds and pensions.
However, whether or not a student loan can be discharged depends on the circumstances, and debtors may sometimes choose to reaffirm a debt that would otherwise be discharged.
In the case of retirement funds and pensions, the Bankruptcy Code recognizes that these are necessary for a debtor's future financial stability.
Therefore, these funds are exempt from being liquidated to pay off debts, although there are some limits.
For example, individual retirement accounts (IRAs) are protected up to [tex]$1,362,800[/tex] in 2021, and traditional or Roth IRAs are also exempt from being liquidated to pay off debts.
As for student loans, they are generally non-dischargeable under bankruptcy, meaning that a debtor would still be responsible for paying them off even after bankruptcy.
However, there are some circumstances under which student loans can be discharged, such as if the debtor can prove that paying off the loan would impose an undue hardship.
This is a difficult standard to meet, and the burden of proof falls on the debtor.
Finally, sometimes a debtor may choose to reaffirm a debt that would otherwise be discharged.
This is usually done when the debtor wants to keep the asset that is securing the debt.
For example, a debtor may reaffirm a mortgage debt in order to keep their home.
By reaffirming the debt, the debtor is agreeing to continue making payments on the debt even after bankruptcy, but they get to keep the asset that is securing the debt.
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A market with free entry, and many firms selling virtually similar products would best be characterized as which of the following?
[ Select ] ["Undifferentiated oligopoly", "Perfect competition", "Monopolistic competition", "Monopoly"]
A market with free entry, and many firms selling differentiated products would best be characterized as which of the following?
[ Select ] ["Perfect competition", "Undifferentiated oligopoly", "Monopolistic competition", "Monopoly"]
When a market has free entry, and there are numerous firms selling virtually similar products, then it can be characterized as a monopolistic competition.
Such a market structure is characterized by a large number of firms producing and selling products that are somewhat differentiated. The firms can control the prices of their products to some extent, but they are still price-takers.
A monopolistic competition can be characterized by the following features : Many firms: This market structure has many firms that produce and sell products, so no one firm can dominate the market.
Product differentiation: Firms can differentiate their products by branding or marketing them differently than their competitors.
This market structure is similar to perfect competition, but the firms are selling differentiated products that can be branded or marketed differently than their competitors. In this market, firms can charge slightly different prices based on product differentiation and branding.
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