The notion of the revenue recognition criteria serves as the basis for revenue recognition under GAAP (Generally Accepted Accounting Principles).
This principle states that revenue should be recognised as soon as it is earned and is either realised or realisable. Since the customer has not yet released the purchase order for the equipment, the essential requirement for revenue recognition is not satisfied in this instance as of December 31, 2020. The revenue cannot be recognised until the requirements for realisation, or realisable and earned, are satisfied, even though the equipment was physically picked up on December 31. Therefore, in accordance with GAAP, no revenue can be reported for this particular sale in 2020, and as a result, no commission can be paid or recorded for 2020.
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Use a supply and demand graph to show the impact of the following on the equilibrium price and quantity in the market for Texas Instrument calculators. [You will upload your graphs at the end.] Casio calculators announces higher prices for consumers and at the same time Texas instrument negotiates a much lower monthly rent on their lease. The demand for Tl calculators What factor caused the shift? The supply of TI calculators What factor caused the shift? As a result, the market equilibrium price and the equilibrium quantity Use a supply and demand graph to show the impact of the following on the equilibrium price and quantity in the market for Texas Instrument calculators. [You will upload your graphs at the end.] Casio calculators announces higher prices for consumers and at the same time Texas Instrument negotiates a much lower monthly rent on their lease. The demand for TI calculators What factor caused the shift? The supply of TI calculators What factor caused the shift? As a result, the market equilibrium price and the equilibrium quantity Use a supply and demand graph to show the impact of the following on the equilibrium price and quantity in the market for Texas Instrument calculators. [You will upload your graphs at the end.] Casio calculators announces higher prices for consumers and at the same time Texas Instrument negotiates a much lower monthly rent on their lease. The demand for Tl calculators What factor caused the shift? The supply of TI calculators What factor caused the shift? As a result, the market equi and the equilibrium quantity Use a supply and demand graph to show the impact of the following on the equilibrium price and quantity in the market for Texas Instrument calculators. [You will upload your graphs at the end.] Casio calculators announces higher prices for consumers and at the same time Texas Instrument negotiates a much lower monthly rent on their lease. The demand for TI calculators What factor caused the shift? The supply of TI calculators What factor caused the shift? As a result, the market equilibrium price and the equilibriun Use a supply and demand graph to show the impact of the following on the equilibrium price and quantity in the market for Texas Instrument calculators. [You will upload your graphs at the end.] Casio calculators announces higher prices for consumers and at the same time Texas Instrument negotiates a much lower monthly rent on their lease. The demand for Tl calculators What factor caused the shift? The supply of TI calculators What factor caused the shift? As a result, the market equilibrium price and the equilibrium quantity Use a supply and demand graph to show the impact of the following on the equilibrium price and quantity in the market for Texas Instrument calculators. [You will upload your graphs at the end.] Casio calculators announces higher prices for consumers and at the same time Texas Instrument negotiates a much lower monthly rent on their lease. The demand for TI calculators What factor caused the shift? The supply of TI calculators What factor caused the shift? As a result, the market equilibrium price and the equilibrium quantity Use a supply and demand graph to show the impact of the following on the equilibrium price and quantity in the market for Texas Instrument calculators. [You will be asked to upload your graphs at the end.] Texas Instrument (TI) announces on their social media page that their calculators will go on sale in two months! The demand for TI calculators What factor caused the shift? The supply of TI calculators What factor caused the shift? As a result, the market equilibrium price and the market equilibrium quantity Use a supply and demand graph to show the impact of the following on the equilibrium price and quantity in the market for Texas Instrument calculators. [You will upload your graphs at the end.] Students are great at math and can do calculations in their head and at the same time workers at the calculator factory are more productive. The demand for Tl calculator What factor caused the shift? The supply of Tl calculators What factor caused the shift? As a result, the market equilibrium price and the equilibrium quantity
Graph showing the impact of the following on the equilibrium price and quantity in the market for Texas Instrument calculators:
Explanation: When Casio calculators announce higher prices for consumers and at the same time Texas Instrument negotiates a much lower monthly rent on their lease, the demand curve will shift leftward while the supply curve will shift rightward.
The shift in the demand curve is due to the substitute effect whereby customers prefer Casio calculators to TI calculators.
On the other hand, the shift in the supply curve is due to an increase in supply resulting from Texas Instruments a much lower monthly rent on their lease. When Texas Instruments announces that their calculators will go on sale in two months, the demand curve shifts rightward due to the change in consumer expectations.
However, the supply curve remains constant, and the market equilibrium price and the equilibrium quantity increase.
Student's being great at math and workers at the calculator factory being more productive will cause the demand and supply curve to shift rightward, respectively.
As a result, the market equilibrium quantity will increase while the market equilibrium price remains constant.
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How
Scrum Master and Project Manager are alike and how they are
different? List the differences between these two roles.
short answer please
Both the Scrum Master and the Project Manager are management roles, and the success of the project depends on how effectively they execute their tasks. However, there are some differences between the roles of a Scrum Master and a Project Manager.
The Scrum Master and Project Manager have different responsibilities and work on different projects. The Scrum Master, as the name suggests, is a part of the Scrum team and ensures that the Scrum methodology is implemented efficiently. Their primary responsibilities include acting as a coach and facilitator, ensuring that the team follows the Scrum framework, and removing any obstacles that may hinder the team's progress.
On the other hand, a Project Manager's role is to ensure that a project is executed within the specified budget, scope, and time. They are responsible for planning, organizing, and overseeing all aspects of a project from start to finish. Additionally, Project Managers typically use traditional project management methodologies, whereas Scrum Masters use Agile methodologies.
To summarize, the main difference between a Scrum Master and a Project Manager is that a Scrum Master is responsible for ensuring that the Scrum methodology is implemented correctly, while a Project Manager is responsible for the overall execution of a project. Furthermore, Scrum Masters work in an Agile environment, while Project Managers use traditional project management methodologies.
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A local bank advertises the following deal: Pay us $100 at the end of each year for 11 years and then we will pay you (or your beneficiaries) $100 at the end of each year forever.
a. Calculate the present value of your payments to the bank if the interest rate available on other deposits is 9.00%. (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Present value
b. What is the present value of a $100 perpetuity deferred for 11 years if the interest rate available on other deposits is 9.00%. (Do not round intermediate calculations. Round your answer to 2 decimal places.)
Present value
c. Is this a good deal?
O No
O Yes
a. Present ValueThe present value of payments to the bank would be $688.32.
PMT = $100i = 9%N = 11PV = ?Use the formula for the present value of an annuity.
PV = PMT * [1 - (1 + i)-N]/iPV = $100 * [1 - (1 + 9%)-11]/9% = $688.32
Therefore, the present value of payments to the bank is
$688.32.b.
Present ValueThe present value of a $100 perpetuity deferred for 11 years would be
$422.16.R = $100i = 9%N = 11PV = ?Use the formula for the present value of a perpetuity:
PV = R/i * (1 - 1/(1 + i)N)PV = $100/9% * [1 - 1/(1 + 9%)11] = $422.16
Therefore, the present value of a $100 perpetuity deferred for 11 years is $422.16.
c. Is this a good deal?Yes, this is a good deal. The present value of the payments to the bank is
$688.32, which is less than the present value of a $100 perpetuity deferred for 11 years, which is
$422.16.
This means that paying $100 per year for 11 years and receiving $100 per year forever is a good deal because the present value of the payments to the bank is less than the present value of a $100 perpetuity deferred for 11 years.
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Under the Investment Company Act of 1940, the investment adviser's contract must be renewed by a majority vote of the fund's:
A
Board of Directors
B
outstanding shares
C
Board of Directors or the outstanding shares
D
unaffiliated Directors
Board of Directors or the outstanding shares, Under the Investment Company Act of 1940, the investment adviser's contract must be renewed by a majority vote of either the fund's Board of Directors or the outstanding shares.
This means that the renewal can be approved by either the fund's Board of Directors or by a majority vote of the shareholders holding the outstanding shares. The Act provides flexibility in determining who has the authority to approve the renewal of the investment adviser's contract, allowing for input and decision-making from both the fund's management and its shareholders
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Why is it important to give managers some degree of flexibility in financial reporting? Discuss your answer by incorporating the idea of from relevant and reliability
Managers require a certain degree of flexibility in financial reporting since it allows them to properly identify and convey data relevant to the performance of their company to stakeholders.
This flexibility also enables them to present information in the most appropriate format for their specific audience, which enhances understanding and contributes to decision-making processes. Additionally, flexibility in financial reporting allows managers to incorporate insights from non-financial data that may influence financial performance. Nonetheless, granting flexibility in financial reporting should be balanced with preserving the reliability and relevance of financial data. In order to ensure that the financial data is reliable, companies need to apply the Generally Accepted Accounting Principles (GAAP), which are a set of accounting principles and standards that are widely accepted by the accounting industry. Reliability refers to the accuracy, verifiability, and completeness of financial data.
It's crucial that financial data is free of errors, omissions, and misstatements. It must also be able to be audited and verified. This is essential for users of financial data who require an assurance that the information they're using is reliable.
Therefore, while managers require flexibility in financial reporting, it's important to maintain the integrity and accuracy of financial information by ensuring the relevant and reliability of the data.
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suppose a consumer wants to obtain the highest possible satisfaction from goods purchased on a fixed budget. which of the following must be equal for all goods?
If a consumer wants to obtain the highest possible satisfaction from goods purchased on a fixed budget, then the marginal utility per dollar spent must be equal for all goods.
The marginal utility is defined as the additional satisfaction that is derived by the consumer from consuming one additional unit of a commodity. The marginal utility depends on the level of satisfaction derived from the commodity and the total quantity of goods consumed.
It is usually measured as the additional satisfaction derived by the consumer from consuming one additional unit of a commodity, keeping all other factors constant. The formula for marginal utility can be calculated as follows:Marginal Utility = Total Utility (TU) n - Total Utility (TU) n-1.
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1. Discuss the telephone technique you would use if you had to handle a large number of incoming calls (10 marks)
2. Written messages include letters, memoranda, circulars, reports, notices and many others. Each one of the above mentioned has its specific uses. Differentiate between memorandums and circulars. (15 marks
The most effective telephone technique for dealing with a large number of incoming calls is call management through friendly and direct answering techniques.
What are the effective communication channels?There are several channels for transmitting oral and written messages, such as telephone calls, whose service techniques should focus on greeting, identification and active listening.
Therefore, written messages such as memos are used in companies for direct communication with a large number of people, while circulars are used to reach the organization's internal and external public.
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OD is partly a reflection of
a. the result of its current engagement with organizations.
b. its past.
c. an outcome of emergent research.
d. All of these are correct.
According to the question all of these are correct.
Organization Development (OD) is influenced by various factors, making it a reflection of its current engagement with organizations, its past experiences and learnings, and the outcomes of emergent research in the field.OD is shaped by its current engagement with organizations as it involves actively working with clients to diagnose organizational issues, design interventions, and facilitate change processes. The strategies and practices employed by OD practitioners are influenced by the specific context, challenges, and goals of the organizations they work with.
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Mr. Madoff purchased an antique sold on eBay for 70% of Ebay asking price , he then sold it for 20% above it's true market value to make a profit of $800.
Ebay's price was 80% of the market value. find Ebay's original asking price?
Mr. Madoff purchased an antique sold on eBay for 70% of Embay asking price, and he sold it for 20% above its actual market value to make a profit of $800. eBay's price was 80% of the market value.
Step 1: Let us assume that the market value of the antique is $100.
Step 2: Mr. Madoff purchased the antique at a cost of 70% of the initial asking price of Embay, or $0.70x.
Step 3: Mr. Madoff sold the antique for 20% above its actual market value of $100, or $1.20(100) = $120.
Hence, he made a profit of $120 - $100 = $20. We know that this profit equals $800, so we can set up an equation to solve for x: $20 = 0.2x $800 = 40x x = 50
Step 4: If Mr. Madoff bought the antique for $0.70x, he paid $0.70(50) = $35.
Hence, the antique's market value on eBay was $35 / 0.80 = $43.75. Thus, Ebay's original asking price was $43.75. To sum up, Mr. Madoff purchased an antique sold on eBay for 70% of Ebay asking price. He then sold it for 20% above its true market value to make a profit of $800. eBay's price was 80% of the market value.
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1.Companies typically employ two common production strategies: Make-to-stock and make-to-order. Which of the following best describes the make-to-stock production strategy.
Question 1 options:
It is the production strategy where companies manufacture individual units such as bicycles.
The production process is triggered by the need to fill a specific order.
The production process is triggered by a need to increase inventory. When inventory falls below certain levels production is initiated even if there is no pending order.
It is the the production of materials that are not manufactured in individual units.
2.Put the following Production Process steps in the correct order:
Question 9 options:
a
Goods are issued to the production order so material needed to produce products are issued from storage.
b
The organization creates a planned order which is a formal request for production that indicates what material are needed and how many units and when.
c
Production is confirmed in system.
d
Request for production is authorized by the production supervisor resulting in a production order which is an actual commitment to produce a specific quantity of material by a certain date.
e
Finished goods are moved into storage through a goods receipt.
f
Release production order to allow subsequent steps such as issuing material to shop floor and printing shop papers needed to execute steps in work centers.
g
The organization receives an order from a customer and there is no inventory of that product on hand.
h
The production order is set to TECO status indicating no further execution of the production process is possible. After a production has been completed and settled status is set to CLSD.
i
The goods are manufactured.
Make-to-stock production strategy is the production process triggered by a need to increase inventory. When inventory falls below certain levels production is initiated even if there is no pending order.
Most companies employ two common production strategies, make-to-stock and make-to-order production strategy. The make-to-stock strategy produces goods and products in advance to meet the expected demands of the market.
It is the production strategy where companies manufacture goods in anticipation of customer demand or forecasted demand.
Goods are produced and kept in stock, ready to be sold when the demand arises.
On the other hand, the Make-to-order strategy produces goods only when there is a confirmed order from the customer.
It is the production strategy where companies manufacture the goods based on specific customer orders.
The company does not manufacture any units until it receives a specific order from the customer.
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3. Fashion Valet is one of these brands, founded by a popular Malaysian blogger, Vivy Yusof. Since 2010, Fashion Valet's platform has grown to include 400 brands, retail stores, and inhouse brands. Today, Fashion Valet is setting their sights on reaching global customers, with a local spin. Propose and explain ONE (1) target marketing strategy used by Fashion Valet. Provide relevant example to support your idea. 4. Disintermediation occurs when product or service producers cut out intermediaries and go directly to final buyers, or when radically new types of channel intermediaries displace traditional ones. Therefore, define marketing channel and explain with example FOUR (4) steps in channel design decisions.
3. Target marketing strategy refers to selecting a specific group of customers as a target market to provide them with products or services according to their preferences and needs.
4. Marketing channels are the methods or ways used by a business to reach its customers.
3. Target Marketing Strategy used by Fashion Valet:
Fashion Valet uses geographic, demographic, and psychographic segmentation for its target marketing strategy.
The company targets young women who are fashion-conscious, stylish, and love to wear trendy clothes.Fashion Valet offers personalized content and communication to its customers. They offer exclusive discounts and new products updates to their customers through email newsletters.
4. Marketing Channel and Steps in Channel Design Decisions: The channel design decision process includes 4 steps, which are as follows:
Step 1: Analyzing the Needs of the Target Market.The first step in the channel design decision process is analyzing the needs of the target market. A business should first analyze the needs of its target customers, and then design a channel that will effectively meet those needs.Step 2: Establishing Objectives and Constraints.The second step in the channel design decision process is establishing objectives and constraints. A business should determine its channel objectives and constraints to make sure they align with their business goals.Step 3: Identifying and Evaluating Alternative Channels.The third step in the channel design decision process is identifying and evaluating alternative channels. A business should identify and evaluate various channel alternatives that are available and choose the best one for their business.Step 4: Selecting and Managing Channel Members.The fourth and final step in the channel design decision process is selecting and managing channel members. A business should select and manage its channel members based on their needs, goals, and objectives.Know more about the Target marketing strategy
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Sullivan's wife, Susan, died four years ago. Sullivan has not remarried and has found a new person to be his possible wife in 2022 . In 2021 , Sullivan received $82,000 of salary from his employer and $4,000 of business income (his net schedule C income); his total SE tax on line 23 was 865 . He also had the following expenses: 1. Total medical expenses $12,000; insurance reimbursed only $4,000. 2. Federal and State income taxes withheld from his salary were $10,000 and $6,000, respectively. 3. He paid real state taxes of $4,200 and mortgage interest of $6,000. 4. Charitable cash donations totaling $650 to qualified charities. 5 . Gambling expenses of $3,000; had not gambling winning. A. What is Sullivan's AGI for 2021 ? B. What is his total of itemized deductions. C. His taxable income. 4. His total tax liability (line 24). 5. His refund or balance due.
A. Sullivan's AGI for 2021= Salary income + Business Income - Above the line deductions
= 82,000+4,000 = 86,000
B. Sullivan's total itemized deduction = Medical expenses + Taxes + Interest + Charity - Other Miscellaneous Itemized deduction,
Thus, 12,000+10,200+6,000+650-0 = 28,850
C. To calculate the taxable income, we need to deduct Sullivan's itemized deductions from his AGI.
Thus, taxable income = AGI - Total Itemized deduction = 86,000-28,850 = 57,150.
4. His Total tax liability = Tax on taxable income + Self-employment taxes
= 7,905+865 = 8,770.
5. Sullivan's refund or balance due = Total taxes withheld - Total tax liability
= 16,000-8,770 = 7,230.
Since Sullivan had more tax withheld than his actual tax liability,
He is entitled to a refund of 7,230.
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The law firm of Daniel, Cheatem, and Howe has monthly foxed costs of $143,000, EBIT of $215,000, and depreciation charges on its office furniture and computers of $5,000, Calculate the Cash Flow DOL for this firm. (Round answer to 3 decimal places e e. 15.251.) The firm's Cash Flow DOL is
Cash Flow Degree of Operating Leverage (DOL) is an assessment of the impact of changes in operating profit on operating cash flow.
The equation for calculating the DOL of cash flow is as follows:
[tex]Cash Flow DOL = [(EBIT + Depreciation) / (EBIT - Fixed Costs)][/tex]
The law firm of Daniel, Cheatem, and Howe has monthly fixed costs of [tex]$143,000[/tex], EBIT of [tex]$215,000[/tex], and depreciation charges on its office furniture and computers of [tex]$5,000[/tex].
As a result, we can calculate the Cash Flow DOL as follows:
[tex]Cash Flow DOL = [(EBIT + Depreciation) / (EBIT - Fixed Costs)][/tex]
[tex]Cash Flow DOL = [(215,000 + 5,000) / (215,000 - 143,000)][/tex]
[tex]Cash Flow DOL = 220,000 / 72,000[/tex]
[tex]Cash Flow DOL = 3.055[/tex]
rounded to three decimal places, we get [tex]3.055[/tex] as the answer.
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answer the following questions
A) What are the two types of consumer spending as identified by Keynes, and what are the determinants of each?
B) What are the differences between classical theory and what Keynes believed?
A) According to Keynes, there are two types of consumer spending that have different determinants. These two types of spending are:
1. Autonomous Consumption: This type of consumption occurs when individuals or households spend money on basic needs such as food, clothing, and housing. This type of spending is independent of income levels and is necessary for survival. The determinants of autonomous consumption are the price of goods, the level of unemployment, and the level of wealth.
2. Induced Consumption: This type of consumption is dependent on disposable income levels. Induced consumption occurs when individuals or households have disposable income that they spend on discretionary items such as entertainment, vacations, and luxury goods. The determinants of induced consumption are disposable income, the interest rate, and the level of consumer confidence.
3. Fiscal policy: Classical theory suggests that fiscal policy (government spending and taxation) should be used to balance the budget. Keynesian theory suggests that fiscal policy can be used to stimulate demand and maintain full employment.
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ALL OTHER THINGS STAYING THE SAME A HIGH GROWTH FIRM WILL HAVE A RELATIVELY___ NEEDS FOR EXTERNAL FINANCING THAN A LOW GROWTH FIRM
A high-growth firm will have a relatively higher need for external financing than a low-growth firm, all other things staying the same.
A high growth firm, experiencing rapid expansion and increased investment opportunities, requires additional capital to support its growth initiatives. As the firm expands its operations, it may require funding for various purposes such as expanding production capacity, entering new markets, hiring additional staff, or investing in research and development. These growth-related activities often demand significant financial resources that may exceed the firm's internal funds or retained earnings. Hence, high growth firms typically have a greater need for external financing, such as equity investments or debt financing, compared to low growth firms that have more stable and modest capital requirements.
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Firm A operates in perfect competition, firm B in monopolistic competition and firm C is a monopoly. Which of the following statements on A,B and C does not hold? Select one: a. Over the long run, A makes no profit, C generates a welfare loss and B does both b. Marginal revenue is equal to the price of the good for A, not for B nor C c. A, B and C can all make profit over the short run d. For profit maximization, marginal cost equals marginal revenue for B and C, but not for A
Perfect competition is a term used in economics that describes a market structure in which numerous small firms compete against one another. The term "perfect" refers to the absence of monopolies, oligopolies, and monopsonies. As a result, a perfect competition market has a large number of firms that sell homogeneous goods.
A monopoly, on the other hand, is a type of market structure in which a single firm dominates the entire market. In a monopolistic market, the company has complete control over the price of the product, making it difficult for new entrants to join the market. Monopolistic competition is a market structure in which a large number of small firms sell goods that are similar but not identical.
A market structure in which there are many buyers and sellers, but the goods are not identical, and hence there is a lot of advertising and marketing to make their products stand out. Option A says that firm A makes no profit in the long run, firm C generates welfare loss, and firm B does both. As a result, this statement is true. Thus, the correct option is option A because it is false.
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If the Federal Open Market Committee (FOMC) purchases government bonds priced at $14,000 from a bond dealer who banks at National Bank, and if the reserve requirement is 2 percent, then the excess reserves of National Bank: Group of answer choices
increase by $280.
increase by $2,800.
increase by $11,200.
increase by $13,720.
increase by $14,000.
If the Federal Open Market Committee (FOMC) purchases government bonds priced at $14,000 from a bond dealer who banks at National Bank, and if the reserve requirement is 2 percent,
then the excess reserves of National Bank would increase by $13,720. Here's why:
The Federal Open Market Committee (FOMC) is the monetary policy-making body of the Federal Reserve System in the United States.
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Which of the following situations may lead to an asset impairment?
A :A company increases production through a machine that previously had excess capacity.
B :A company decides to repair and use a previously unused piece of equipment.
C :A new technology leads to the availability of a more efficient and cost-effective machine.
D :Fatal flaws in a new technology make new equipment models less desirable.
The most likely situation that may lead to an asset impairment is a new technology leads to the availability of a more efficient and cost-effective machine.
An asset impairment is a loss in the value of an asset. This can happen for a number of reasons, including:
The asset becomes obsolete or technologically outdated.
The asset is damaged or destroyed.
The asset is no longer used or needed by the company.
In the case of option C, a new technology leads to the availability of a more efficient and cost-effective machine. This means that the old machine is no longer as valuable to the company, as it can be replaced with a newer, more efficient machine.
The other options are not as likely to lead to an asset impairment. Option A, a company increases production through a machine that previously had excess capacity, is actually likely to increase the value of the asset. Option B, a company decides to repair and use a previously unused piece of equipment, is also likely to increase the value of the asset. Option D, fatal flaws in a new technology make new equipment models less desirable, is possible, but it is less likely than option C.
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which of the following pays for the services provided by public employment agencies?
The correct answer is taxpayers. Taxpayers refer to individuals, entities, or organizations that are required by law to pay taxes to the government.
Public employment agencies, also known as job centers or labor exchanges, are government entities that provide various services to job seekers and employers. These agencies offer services such as job placement assistance, career counseling, job training programs, and unemployment benefits administration.
The funding for public employment agencies primarily comes from public funds, which are generated through taxes collected from individuals and businesses. Taxpayers contribute to the funding of these agencies through various taxes, such as income taxes, payroll taxes, or specific taxes allocated for employment and labor-related services.
The rationale behind taxpayers funding public employment agencies is to ensure that essential employment services are available to the public, promoting labor market efficiency, reducing unemployment rates, and supporting economic growth. These agencies play a crucial role in matching job seekers with suitable employment opportunities and providing resources for skills development and workforce integration.
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The Raw Materials account for Mac’s Motorcycles had a beginning balance of $25,000 for October. During the month, $10,000 of direct materials were transferred to Work in Process, and $7,000 of direct materials were purchased from a vendor. What is Mac’s ending Raw Materials balance for October?
$32,000
$22,000
$15,000
$18,000
For the month of October, Mac's closing raw material balance was $18,000.
For the month of October, the starting amount in Mac's Motorcycles' raw materials account was $25,000.
$10,000 in direct materials were moved to Work in Process during the month, while $7,000 in direct supplies were bought from a vendor.
The direct materials transferred to work in progress and the direct materials purchased from the vendor are subtracted from the beginning balance of raw materials for October to arrive at the concluding raw materials balance for the month.
The calculation looks like this:
Raw materials' initial balance is equal to $25,000
10,000 direct materials were moved to the active work.
$700 was spent on direct materials from the vendor.
Ending raw material balance = Beginning raw material balance + Direct materials added to work in progress + Direct materials bought from vendor
= $25,000 + $10,000 + $7,000 = $18,000.
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Discuss how IKEA has changed its pricing strategy to enter
Bahrain based on the internal factors of IKEA and external factors
of Bahrain.
IKEA is a multinational company that has its own unique marketing strategies to enter into different markets. The company uses various marketing strategies in different countries based on internal factors of the company and external factors of the country.
One such country is Bahrain, where IKEA changed its pricing strategy to enter Bahrain.Let's discuss how IKEA has changed its pricing strategy to enter Bahrain based on internal factors of IKEA and external factors of Bahrain.1. Internal factors of IKEAIKEA has its own unique marketing strategies based on its internal factors such as the organization's goals and objectives, products, and distribution channels.
IKEA has a well-established distribution channel that helps the company to reduce its cost, and the company also offers a wide range of products to meet the customer needs and wants. The internal factors of the company have made it possible to set competitive prices in the market.
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in a malthusian world, when technology improves, over time the living standard stays the same while population density increasestrue
The statement 'in a malthusian world, when technology improves, over time the living standard stays the same while population density increases.' is false as in a Malthusian world, technological improvement can potentially lead to increased living standards despite population density increases.
In a Malthusian society, advancements in technology may raise living standards while also increasing population densities. The majority of people's living standards stagnate or decline as a result of limited resources and population growth, according to Thomas Malthus, despite the fact that technological advancements may momentarily improve living conditions.
Although the Malthusian theory has been criticized, it is important to keep in mind that it does not fully account for the complexities of economic and technological progress, as these developments can also increase productivity and resource efficiency raising living standards even in the face of population growth.
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The complete question is-in a malthusian world, when technology improves, over time the living standard stays the same while population density increases. true/ false
Assume that the demand curve D(p) given below is the market demand for widgets:
Q=D(p)=1536−13pQ=D(p)=1536-13p, p > 0
Let the market supply of widgets be given by:
Q=S(p)=−5+10pQ=S(p)=-5+10p, p > 0
where p is the price and Q is the quantity. The functions D(p) and S(p) give the number of widgets demanded and supplied at a given price.
What is the equilibrium price?
What is the equilibrium quantity?
What is the consumer surplus at equilibrium?
What is the producer surplus at equilibrium?
What is the unmet demand at equilibrium?
The equilibrium price is 88 and the equilibrium quantity is 704. The consumer surplus is 4,096 and the producer surplus is 4,480. The unmet demand at equilibrium is zero.
To find the equilibrium price, we need to set the quantity demanded equal to the quantity supplied:
1536 - 13p = -5 + 10p
Solving for p, we get:
p = 88
Substituting p = 88 into either equation, we can find the equilibrium quantity:
Q = 1536 - 13(88)Q = 704
To find the consumer surplus, we need to find the area below the demand curve and above the equilibrium price.
This gives us a triangle with base of 704 and height of (1536-88) = 1448.
So, the consumer surplus is:
(1/2) * 704 * 1448 = 4,096
To find the producer surplus, we need to find the area below the equilibrium price and above the supply curve.
This gives us a trapezoid with bases of 704 and 84 and a height of 88.
So, the producer surplus is:
(1/2) * (84+88) * 704 = 4,480
Finally, at equilibrium, there is no unmet demand, since the quantity demanded is equal to the quantity supplied. So, the unmet demand at equilibrium is zero.
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a two-year bond with annual coupons of 100 and redemption value of 1000 is priced at 1,037.41. the current two-year spot rate is 8%. determine the current one-year spot rate that is consistent with the pricing of the bond.
The current one-year spot rate that is consistent with the pricing of the bond is approximately 0.64% (or 0.0064 as a decimal).
To determine the current one-year spot rate consistent with the pricing of the bond, we can use the concept of the yield to maturity (YTM) and the relationship between spot rates and yields.
Given:
Face value (redemption value) of the bond = $1000
Annual coupon payment = $100
Bond price = $1037.41
Current two-year spot rate = 8%
The yield to maturity (YTM) is the rate of return an investor would receive if they hold the bond until maturity. In this case, the bond has a two-year maturity.
To calculate the YTM, we can use the bond pricing formula:
Bond Price = (C / (1 + r₁)) + (C / (1 + r₂)²) + (F / (1 + r₂)²)
Where:
C = Annual coupon payment
F = Face value (redemption value)
r₁ = One-year spot rate
r₂ = Two-year spot rate
Substituting the given values:
$1037.41 = ($100 / (1 + r₁)) + ($100 / (1 + 0.08)²) + ($1000 / (1 + 0.08)²)
Now, we can solve this equation for r₁, the current one-year spot rate.
$1037.41 = ($100 / (1 + r₁)) + ($100 / (1 + 0.08)²) + ($1000 / (1 + 0.08)²)
Multiplying through by (1 + r₁) and rearranging the terms:
$1037.41(1 + r₁) = $100 + ($100 / (1 + 0.08)²) + ($1000 / (1 + 0.08)²)
Expanding and simplifying:
$1037.41 + $1037.41r₁ = $100 + ($100 / (1.08)²) + ($1000 / (1.08)²)
Subtracting $1037.41 from both sides:
$1037.41r₁ = $100 + ($100 / (1.08)²) + ($1000 / (1.08)²) - $1037.41
Now, we can solve for r₁:
r₁ = ($100 + ($100 / (1.08)²) + ($1000 / (1.08)²) - $1037.41) / $1037.41
Calculating the numerator:
Numerator = $100 + ($100 / (1.08)²) + ($1000 / (1.08)²) - $1037.41
≈ $100 + ($100 / 1.1664) + ($1000 / 1.1664) - $1037.41
≈ $100 + $85.68 + $858.37 - $1037.41
≈ $6.64
Now, calculating r₁:
r₁ ≈ $6.64 / $1037.41
≈ 0.0064
Therefore, the current one-year spot rate that is consistent with the pricing of the bond is approximately 0.64% (or 0.0064 as a decimal).
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The Counting Crows Company uses normal costing. The company began operations at the beginning of Year 1. Because the company is new and because they only make one product, overhead is charged to production on the basis of product units. The denominator level for both Year 1 and Year 2 is 20,000 product units. The budgeted overhead at 20,000 units for both Year 1 and for Year 2 is $60,000 variable and $100,000 fixed. During Year 1, the company actually produced 21,000 units and sold 18,000 units. During Year 2, the company actually produced 22,000 and sold 21,000 units. The company carries no Work in Process inventories and uses the FIFO method to assign costs to Finished Goods as needed. Any underallocated or overallocated overhead is charged totally to Cost of Goods Sold at the end of the year. For both years, the actual direct materials cost was $8 per unit and the actual direct labor cost was $6 per unit. The actual variable overhead cost in Year 2 was $64,000 and the actual fixed overhead cost in Year 2 was $102,000. Question 1 2 pts Assume that the Unadjusted Cost of Goods Sold for Year 2 was $357,000 using variable costing. Compute the Adjusted Cost of Goods Sold using variable costing for Year 2. Do not put a dollar sign in your answer. D Question 2 2 pts Assume that the Unadjusted Cost of Goods Sold for Year 2 was $462,000 using absorption costing. Compute the Adjusted Cost of Goods sold using absorption costing for Year 2. Do not put a dollar sign in your answer. Question 3 2 pts Using absorption costing, how much fixed overhead that happened in Year 2 would be carried over into Year 3? Do not put a dollar sign in your answer. D Question 4 2 pts In Year 1, the net operating income for the company was $35,000 using absorption costing. What would the net operating income for Year 1 be using variable costing? Note: This question is for Year 1 NOT YEAR 2. You should use a reconciliation to find this answer. Do not put a dollar sign in your answer. Question 5 2 pts For external purposes, the company O must use absorption costing O must use variable costing may use either variable costing or absorption costing
The Adjusted Cost of Goods Sold using variable costing for Year 2 is $361,000.The Adjusted Cost of Goods Sold using absorption costing for Year 2 is $466,000.The net operating income for Year 1 using variable costing would be $40,000.
1. To compute the Adjusted Cost of Goods Sold using variable costing for Year 2, we need to consider the underallocated or overallocated overhead. The unadjusted Cost of Goods Sold is given as $357,000. Since the actual variable overhead cost for Year 2 is $64,000, the overhead variance is $4,000 (overallocated). Thus, the Adjusted Cost of Goods Sold is $357,000 + $4,000 = $361,000.
2. The Adjusted Cost of Goods Sold using absorption costing for Year 2 can be calculated by adding the underallocated or overallocated overhead to the unadjusted Cost of Goods Sold. The unadjusted Cost of Goods Sold is given as $462,000. Since the actual fixed overhead cost for Year 2 is $102,000, the overhead variance is $2,000 (underallocated). Therefore, the Adjusted Cost of Goods Sold is $462,000 + $2,000 = $466,000.
3. Under absorption costing, all fixed overhead costs are allocated to the units produced and included in the cost of goods sold. There is no carryover of fixed overhead from one period to another. Therefore, none of the fixed overhead that occurred in Year 2 would be carried over into Year 3.
4. To determine the net operating income for Year 1 using variable costing, we can use a reconciliation statement. The net operating income under absorption costing is given as $35,000. The difference between the net operating income under absorption costing and variable costing is the fixed overhead deferred in inventory, which is $5,000. Therefore, the net operating income for Year 1 using variable costing is $35,000 + $5,000 = $40,000.
5. For external reporting purposes, the company must use absorption costing. Absorption costing is the generally accepted accounting principle (GAAP) method for reporting financial statements. It allocates all manufacturing costs, including fixed overhead, to the cost of goods sold. This method provides a more comprehensive view of the costs incurred in producing goods and is required by external stakeholders, such as investors, creditors, and regulatory authorities. Variable costing, on the other hand, treats fixed overhead as a period expense and only includes variable production costs in the cost of goods sold. While variable costing can be useful for internal decision-making and cost analysis, it is not compliant with external reporting requirements.
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The budget or schedule that provides necessary input data for the direct labour budget is the production budget. True False Question 9 In the merchandise purchases budget, the required purchases (in units) for a period can be determined by subtracting the beginning merchandise inventory (in units) from the budgeted sales (in units). True False
The statement "The budget or schedule that provides necessary input data for the direct labour budget is the production budget" is True. The production budget is prepared before the direct labor budget, and it provides necessary input data for preparing the direct labor budget.
The production budget involves the production process and the expected sales of the company for a specified period. It specifies the quantity of the products that need to be produced to meet the sales demand.The direct labor budget, on the other hand, deals with the labor required to manufacture or produce the budgeted products in the production budget. It determines the total cost of labor required for a specified period. This budget depends on the production budget since it depends on the number of units of products produced. Therefore, it is safe to conclude that the production budget provides necessary input data for the direct labor budget.
The statement "In the merchandise purchases budget, the required purchases (in units) for a period can be determined by subtracting the beginning merchandise inventory (in units) from the budgeted sales (in units)" is True. The merchandise purchases budget is a schedule that shows the expected amount of inventory purchases in units and the corresponding purchase price for a specific period.
The purchases budget aims to ensure that the organization purchases enough merchandise to meet the expected sales demand.The formula to determine the required purchases (in units) for a period in the merchandise purchases budget is by subtracting the beginning merchandise inventory (in units) from the budgeted sales (in units). This formula provides the necessary data required for making a purchase decision. Hence, this statement is also true.
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You own a put option on Ford stock with a strike price of $12. The option will expire in exactly six months. a. If the stock is trading at $8 in six months, what will be the payoff of the put? b. If the stock is trading at $27 in six months, what will be the payoff of the put? c. Draw a payoff diagram showing the value of the put at expiration as a function of the stock price at expiration. a. If the stock is trading at $8 in six months, what will be the payoff of the put? If the stock is trading at $8 in six months, the payoff of the put is $ (Round to the nearest dollar.) b. If the stock is trading at $27 in six months, what will be the payoff of the put? If the stock is trading at $27 in six months, the payoff of the put is $ (Round to the nearest dollar.) c. Draw a payoff diagram showing the value of the put at expiration as a function of the stock price at expiration. Which of the graphs below best represents the payoff diagram showing the value of the put? (Select the best choice below.)
The payoff of the put when the stock is trading at $8 in six months is $4. That is calculated as follows: Payoff of the put option = Max(Strike price - Stock price, 0).
Stock price = $8Strike price = $12Payoff of the put option = Max(12-8, 0) = Max(4, 0) = $4b) When the stock is trading at $27 in six months, the payoff of the put option will be $0. That is calculated as follows: Payoff of the put option = Max(Strike price - Stock price, 0)Stock price = $27Strike price = $12Payoff of the put option = Max(12-27, 0) = Max(-15, 0) = $0c).
The payoff diagram showing the value of the put at expiration as a function of the stock price at expiration can be represented as shown below: The option has a strike price of $12 and is a put option, therefore, the payoff diagram starts at $0 when the stock price is above the strike price ($12).
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What nominal annual rate of interest compounded semi-annually is required to double an investment in 7 years Rate = %
The nominal annual rate of interest compounded semi-annually required to double an investment in 7 years is 10.2%.
The formula for compound interest compounded semi-annually is:
A = P(1 + r/n)^nt
where:
A is the future value
P is the present value
r is the nominal annual interest rate
n is the number of compounding periods per year
t is the number of years
In this case, we want A = 2P, t = 7 years, and n = 2 (since we are compounding semi-annually. So we can solve for r:
2P = P(1 + r/2)^2t
2 = (1 + r/2)^14
(1 + r/2)^7 = 2
1 + r/2 = 2^(1/7)
r/2 = 2^(1/7) - 1
r = 2(2^(1/7) - 1)
r = 10.2%
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a 10 year bond with coupons at 8% convertible quarterly will be redeemed at 1600. the bond is bought to yield 12% convertible quarterly. the purchase price is 860.40. calculate the par value.
The par value of the bond is approximately $210.32. A 10 year bond with coupons at 8% convertible quarterly will be redeemed at 1600.
To calculate the par value of the 10-year bond, we can use the formula:
Par Value = Redemption Value / (1 + Yield)^n
Where:
- Redemption Value is the value at which the bond will be redeemed, which is $1600 in this case.
- Yield is the yield at which the bond was bought, which is 12% convertible quarterly. Convert it to a decimal: 12% = 0.12.
- n is the number of periods, which is the number of years multiplied by the number of periods per year. In this case, since the bond is convertible quarterly, there are 4 periods per year, so n = 10 years * 4 periods/year = 40 periods.
Now let's calculate the par value:
Par Value = $1600 / (1 + 0.12)^40
Calculating the denominator:
(1 + 0.12)^40 ≈ 7.6123
Now plug this value into the formula:
Par Value = $1600 / 7.6123
Par Value ≈ $210.32
Therefore, the par value of the bond is approximately $210.32.
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The demand for labor in a certain industry is N D =300−w, where N D is the number of workers employers want to hire and w is the real wage measured in dollars per day. The supply of labor in the same industry is N S
=200+w, where N S
is the number of people willing to work. A. According to this model, what is the equilibrium wage and employment in this industry? Show your work. B. According to this model, what is the equilibrium level of unemployment and why? C. According to this model, if the minimum wage is set at $60 per day, how many workers will be unemployed? Please, show your work.
The labor market equilibrium is the point at which the supply of labor equals the demand for labor. This point is determined by the intersection of the supply and demand curves.
The model below gives the demand and supply of labor in a certain industry:ND = 300 - w ... (1)NS = 200 + w ... (2)whereND is the number of workers employers want to hire and w is the real wage measured in dollars per day;NS is the number of people willing to work.
We are to determine the equilibrium bbband employment in this industry.A. Equilibrium wage and employmentThe equilibrium wage is the wage at which the quantity of labor demanded equals the quantity of labor supplied. Equating (1) and (2), we have:ND = NS300 - w = 200 + ww = 50Therefore, the equilibrium wage is $50 per day. To determine employment, substitute the equilibrium wage into the demand equation:ND = 300 - w = 300 - 50 = 250Therefore, the equilibrium employment is 250.
B. Equilibrium level of unemployment and whyUnemployment refers to people willing and able to work but are not employed. At the equilibrium wage, the number of people willing to work is equal to the number of workers employers want to hire. Therefore, there is no unemployment in the labor market.
C. If the minimum wage is set at $60 per day, how many workers will be unemployed?The minimum wage is above the equilibrium wage, which leads to a surplus of labor. Employers want to hire fewer workers than the number of people willing to work, and this results in unemployment.
To determine the number of workers unemployed, substitute the minimum wage into the labor supply equation:NS = 200 + w = 200 + 60 = 260Substituting this value into the demand equation gives the quantity of labor demanded at the minimum wage:ND = 300 - w = 300 - 60 = 240The quantity of labor supplied exceeds the quantity demanded, so there is a surplus of labor of:NS - ND = 260 - 240 = 20Therefore, 20 workers will be unemployed.
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