As of October 2021, there were approximately 4.2 million unemployed individuals in the United States. Meanwhile, in California, there were an estimated 471,000 unemployed individuals in October 2021.
The level of unemployment affects the supply/demand curve of products and services. When unemployment rates rise, there is a decrease in the demand for products and services, which can result in a leftward shift of the demand curve. This is because consumers have less income to spend on goods and services.
When demand decreases, the supply curve shifts to the left as well because producers are less willing to supply goods and services at lower prices. This results in a new equilibrium point with a lower price and quantity supplied. The economy may also experience lower economic growth and decreased spending on capital goods due to decreased demand for products and services.
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On January 1, you bought 4 April gold futures contract at a futures price of $250/oz. The contract size is 100 oz. If the April futures price is $275/oz on February 1, your profit would be ____________ if you close your position. A. -$2,500 B. $10,000 OC.-$10,000 OD. $2,500 € 00
The profit would be:(($275/oz) – ($250/oz)) x (100 oz.) x (4 contracts) = $10,000Therefore, the answer is option (C) $10,000.
On January 1, four April gold futures contracts were bought at $250/oz, with a contract size of 100 oz. If the futures price on February 1 is $275/oz, what is the profit if the position is closed?Solution:To solve this problem, we must first determine the value of each futures contract:Since the contract size is 100 oz., the value of each futures contract is $250/oz x 100 oz. = $25,000.When the futures price is $275/oz on February 1, the value of each futures contract will be $275/oz x 100 oz. = $27,500.The profit on a long futures position is calculated as follows:Profit = (Futures price on closing day – Futures price on opening day) x Contract size x Number of contractsIf the futures position is closed on February 1, the profit would be:(($275/oz) – ($250/oz)) x (100 oz.) x (4 contracts) = $10,000Therefore, the answer is option (C) $10,000.
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Historically, many countries used to fix their currency to a set amount of ______ gold.
Historically, many countries used to fix their currency to a set amount of gold. This system is known as the gold standard.
Under the gold standard, a country's currency was directly convertible into a fixed amount of gold. The value of the currency was tied to the value of gold, which served as a benchmark or reference point. The fixed exchange rate between gold and the currency provided stability and helped maintain confidence in the currency.
Countries on the gold standard had to hold and maintain significant gold reserves to back their currency. If individuals or other countries wanted to exchange their currency for gold, the central bank or government would provide the gold at the fixed exchange rate.
The gold standard was widely used during the 19th and early 20th centuries. It provided a stable monetary system, facilitated international trade, and constrained inflationary pressures. However, the gold standard also had limitations and constraints on monetary policy, as it limited the flexibility of governments to adjust their currency's value in response to economic conditions.
Over time, most countries moved away from the gold standard, especially during the 20th century. The Bretton Woods system, established in 1944, introduced a modified version of the gold standard, where the U.S. dollar became the primary reserve currency backed by gold. However, even this system eventually collapsed in 1971, leading to a free-floating exchange rate regime where currency values are determined by market forces.
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Your firm has $ 100,000 in fixed costs. The price of your product is $ 35. The per unit variable costs are $ 5. Your break even level of sales is__________
a. 3,334
b. 2,857
c. 20,000
d. 100,000
e. not enough information
Given, Fixed costs= $100,000 Price of the product= $35Variable cost per unit= $5We need to calculate break even level of sales. The formula for break-even point in sales is given by Break even point in sales = Total fixed costs / Contribution margin per unit Contribution margin per unit is given by Contribution margin per unit = Selling price per unit - Variable cost per unit= $35 - $5= $30
Now, substituting the values in the formula for break even level of sales we get Break even point in sales = Total fixed costs / Contribution margin per unit= $100,000 / $30= 3333.33 units Therefore, the break even level of sales is 3,334. (a)More than 100 words solution Break-even point (BEP) in economics refers to the level of sales or unit production that allows a company to break even with zero net income.
Fixed costs, variable costs, and price per unit are the three critical components in determining the break-even point of a product. In the given question, we have to calculate the break even level of sales. Given, Fixed costs= $100,000Price of the product= $35Variable cost per unit= $5Now, we can calculate the contribution margin per unit. Contribution margin is the difference between the selling price and the variable cost of the product. Contribution margin per unit = Selling price per unit - Variable cost per unit= $35 - $5= $30Using the formula of break-even point in sales Break even point in sales = Total fixed costs / Contribution margin per unit= $100,000 / $30= 3333.33 units Therefore, the break even level of sales is 3,334. Hence, the correct option is (a).
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The government decides to increase its spending by $3 billion. Over time the real GDP increased by $12 billion. The expenditure multiplier is ________ 3.5.
-lower than
-equal to
-higher than
The expenditure multiplier is equal to 4. This means that for every $1 increase in government spending, the real GDP increases by $4, indicating a multiplier effect.
The expenditure multiplier measures the overall impact of a change in government spending on the economy. It represents the ratio of the change in real GDP to the initial change in government spending.
In this case, the government increased its spending by $3 billion, and as a result, the real GDP increased by $12 billion. To calculate the expenditure multiplier, we divide the change in real GDP by the change in government spending:
Expenditure multiplier = Change in real GDP / Change in government spending
Expenditure multiplier = $12 billion / $3 billion
Expenditure multiplier = 4
Therefore, the expenditure multiplier is equal to 4.
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A company activated a machine on 1st of July 2021. The acquisition cost of the asset: 12.000.000 HUF and the
residual value is 2.000.000 HUF. The expected useful life 5 years, while the CIT depreciation rate is 14,5%.
1. Tax base increasing item
2. Tax base decreasing item
The tax base is the value of an asset or liability for tax purposes. It is computed by adding or subtracting certain tax effects from the book value of the asset or liability.
The two items, Tax base increasing and tax base decreasing, in relation to the activated machine are as follows:1. Tax base increasing itemDepreciation is a tax base increasing item. The depreciation rate used for tax purposes is typically greater than that used for financial accounting purposes. As a result, the tax base of the asset will be lower than the book value. The difference between the tax base and the book value of an asset, known as a temporary difference, will result in future taxable income as the asset is depreciated. In this scenario, the depreciation will be 14.5% of the acquisition cost, i.e., 12.000.000 HUF. Therefore, the depreciation charge is 1.740.000 HUF. The tax base of the asset is the acquisition cost less accumulated depreciation. As a result, the tax base of the asset at the end of the first year will be 10.260.000 HUF (12.000.000 HUF - 1.740.000 HUF).2.
Tax base decreasing item The residual value is a tax base decreasing item. In the event that the asset is sold or retired, the book value and tax base of the asset will differ by the amount of the residual value. The tax base of the asset at the end of its useful life will be 2.000.000 HUF (the residual value), which is lower than the book value of the asset. The tax base and the book value of the asset will be the same if the asset is sold for the residual value at the end of its useful life.
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Question 1: Share capital and reserves Gumtree Ltd open for initial public offering for 5 million shares at a rate of $2.00 per share. Application close on 15th February 2022 with $1.00 and balance 1.
These journal entries below account for the various events related to Gumtree Ltd's initial public offering and subsequent actions.
What are the journal entries to account for the events related to Gumtree Ltd's initial public offering?Journal Entries:
On 15th February 2022, when applications were received for 7 million shares:
Dr. Bank Account $7,000,000Cr. Share Application Account $7,000,000On 25th February 2022, when shares were allotted on a pro rata basis:
Dr. Share Application Account $2,000,000Cr. Share Capital Account $2,000,000(This entry represents the amount received for the allotted shares at the rate of $2.00 per share.)
On 25th February 2022, when excess application money was adjusted against the final payment:
Dr. Share Application Account $1,000,000Cr. Share Allotment Account $1,000,000(This entry reduces the excess application money against the final payment due.)
On 27th March 2022, when subscribers failed to make the final payments for 1 million shares:
Dr. Share Allotment Account $1,000,000Cr. Share Forfeiture Account $1,000,000(This entry records the forfeiture of shares due to non-payment.)On 10th April 2022, when forfeited shares were reissued at $1.60 with full payment:
Dr. Share Forfeiture Account $1,000,000Dr. Share Capital Account $600,000Dr. Share Premium Account $400,000Cr. Share Allotment Account $2,000,000(This entry cancels the forfeiture of shares and reissues them at a reduced price of $1.60 per share.).
Full question:
Share capital and reserves Gumtree Ltd open for initial public offering for 5 million shares at a rate of $2.00 per share. Application close on 15th February 2022 with $1.00 and balance 1.00 will be payable within 30 days of allotment. Gumtree Ltd received application for 7 million shares on 15th February 2022. On 25 February 2022, management decided to allot shares on pro rata basis with excess amount received will be reduce against final payment due. Subscribers of 1 million shares fail to make the final payments due on 27th March 2022. On 10th April 2022,1 million shares forfeited and reissued at 1.60 with full payment. REQUIRED Provide the journal entries to account for the above events.
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Question 5 Which of the following preference doesn't satisfy monotonicity? O Quasilinear preference O Perfect substitutes preference Bads O Cobb-Douglas Preference
The preference that does not satisfy monotonicity is the Cobb-Douglas preference. Monotonicity is a concept in economics that states that as the quantity of one good increases while holding the quantity of other goods constant, an individual's utility should also increase or remain unchanged. Hence option C) is correct.
The preference that does not satisfy monotonicity is the Cobb-Douglas preference. Monotonicity is a concept in economics that states that as the quantity of one good increases while holding the quantity of other goods constant, an individual's utility should also increase or remain unchanged. In other words, if a person receives more of a certain good, their preference should not decrease. Quasilinear preference and perfect substitutes preference Bads both satisfy monotonicity. Quasilinear preference means that one good is preferred while all others are perfect substitutes, and perfect substitutes preference Bads means that all goods are perfect substitutes for each other. However, Cobb-Douglas preference does not satisfy monotonicity. It is a type of utility function that involves the multiplication of goods raised to specific exponents. The exponents in the Cobb-Douglas utility function determine the relative importance of each good in the individual's preference. Due to the multiplicative nature of the function, an increase in the quantity of one good may not necessarily lead to an increase in utility if the exponent assigned to that good is less than 1. Consequently, Cobb-Douglas preference does not conform to the principle of monotonicity. Therefore option C) is correct.
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Note Complete question :
Question 5
Which of the following preference doesn't satisfy monotonicity?
A)Quasilinear preference
B)Perfect substitutes preference Bads
C)Cobb-Douglas Preference
How does tracking changes relate to sharing a workbook in Excel?
Select an answer:
A. You cannot share the workbook if you track changes.
B. You must share the workbook to track changes.
C. You must track changes to share the workbook.
D. You cannot track changes if you share the workbook.
You cannot track changes if you share the workbook. Option D.
In Excel, tracking changes and sharing a workbook are two separate functionalities, and they are not directly dependent on each other. However, the option to track changes is not available when a workbook is shared.
When you share a workbook in Excel, multiple users can work on the same workbook simultaneously. This allows for collaboration and real-time updates. When a workbook is shared, changes made by different users are automatically synchronized and merged, ensuring that everyone has the latest version of the workbook.
On the other hand, tracking changes in Excel allows you to keep a record of modifications made to a workbook. When enabled, Excel tracks changes such as edits, additions, or deletions made by users and highlights them. This feature is useful for auditing and reviewing the history of changes made to a workbook.
However, when a workbook is shared in Excel, the option to track changes is disabled. This is because tracking changes can lead to conflicts and inconsistencies when multiple users are simultaneously editing the workbook.
To maintain the integrity and synchronization of the shared workbook, Excel does not allow the tracking of changes while the workbook is being shared.
Therefore, the correct answer is that you cannot track changes if you share the workbook in Excel. SO Option D is correct.
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Sharing a workbook in Excel allows multiple users to edit the same document at once, while tracking changes keeps a record of those edits. They are different but connected features - to track changes, the workbook must first be shared.
Explanation:Sharing a workbook and tracking changes are two different features in Excel. The correct answer to your question is B: You must share the workbook to track changes., but let me elaborate a bit on the topic for better understanding. Sharing a workbook in Excel allows multiple users to edit the same workbook simultaneously. This is extremely advantageous when collaborating on a project with a team. On the other hand, tracking changes is a feature that keeps a record of all modifications made to the document, including who made the changes and what changes were made. This becomes essential when you want to review, accept, or reject changes made by others. However, do note that to track changes, the workbook does need to be shared first.
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if you expected a long period of declining gdp, what kinds of companies would you invest in? instructions: in order to receive full credit, you must make a selection for each option. for correct answer(s), click the box once to place a check mark. for incorrect answer(s), click the option twice to empty the box. check all that apply producing high end electronic goodsunanswered fine restaurantsunanswered producing non-branded foodunanswered public transport
Companies involved in producing non-branded food and public transport may be more resilient and potentially experience increased demand. However, producing high-end electronic goods and fine restaurants may face challenges due to reduced consumer spending.
In a long period of declining GDP, certain types of companies tend to perform relatively well. Here are some potential investment options to consider:
Producing high-end electronic goods: Unchecked
High-end electronic goods are often considered luxury items. During an economic downturn, consumer spending may shift towards more affordable or essential products, resulting in decreased demand for expensive electronics.
Fine restaurants: Unchecked
Fine dining restaurants typically cater to wealthier individuals who may reduce discretionary spending during an economic downturn. Consequently, these establishments might experience a decline in customer traffic and revenue.
Producing non-branded food: Checked
During an economic downturn, consumers may opt for more affordable food options, including non-branded or generic food products. Companies involved in producing such goods might see increased demand as consumers prioritize cost-effective choices.
Public transport: Checked
Public transport can be a more cost-effective alternative to private vehicles, particularly during times of financial strain. As people tighten their budgets, they may opt for public transportation over car ownership or more expensive commuting options. Consequently, public transport companies might experience relatively stable or even increased demand.
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Business Cycles – End of Chapter Problem a. Seasonally adjusted data are data adjusted for some seasons but not others. data adjusted for the weather. data stripped of predictable seasonal patterns. data from one season modified to represent another season.
Seasonally adjusted data are c) data stripped of predictable seasonal patterns.
Seasonally adjusted data are calculated by dividing time series data into several components. This procedure involves dissecting a time series into four different components using well-established statistical techniques: (1) the trend-cycle, (2) seasonal impacts, (3) additional calendar effects such as trading days and moving holidays, and (4) the irregular component.
The seasonally adjusted series is the original time series minus the estimated seasonal and calendar impacts, or the calculated combination of the trend-cycle and irregular components.
Seasonal adjustment is not always suitable or necessary. Seasonal adjustment is not required for a series that does not demonstrate a discernible seasonal trend or other calendar-based impacts.
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Correct question:
Seasonally adjusted data are
a) data adjusted for some seasons but not others.
b) data adjusted for the weather.
c) data stripped of predictable seasonal patterns.
d) data from one season modified to represent another season.
Sorenson Corp.'s expected year-end dividend is D1 =
$1.00, its required return is rs = 15.00%, its dividend
yield is 6.00%, and its growth rate is expected to be constant in
the future. What is Sorens
Sorenson Corp.'s expected dividend growth rate is 9.00%.
To calculate the expected dividend growth rate of Sorenson Corp., we can use the dividend yield formula, which is the dividend per share divided by the stock price:
Dividend Yield = Dividend per Share / Stock Price
Given that the dividend yield is 6.00%, we can rearrange the formula to solve for the dividend per share:
Dividend per Share = Dividend Yield * Stock Price
Now, let's consider the dividend growth model, which states that the expected dividend growth rate (g) is equal to the product of the dividend yield (DY) and the return on equity (ROE):
g = DY * ROE
Given that the required return (rs) is 15.00% and the dividend yield (DY) is 6.00%, we can calculate the expected dividend growth rate:
g = 0.06 * 0.15
g = 0.009
g = 9.00%
Therefore, Sorenson Corp.'s expected dividend growth rate is 9.00%.
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An investment bank agrees to underwrite an issue of 16 million shares of stock for Looney Landscaping Corp. a. The investment bank underwrites the stock on a firm commitment basis, and agrees to pay $10.00 per share to Looney Landscaping Corp. for the 16 million shares of stock. The investment bank then sells those shares to the public for $11.50 per share. How much money does Looney Landscaping Corp. receive? What is the profit to the investment bank? If the investment bank can sell the shares for only $8.75, how much money does Looney Landscaping Corp. receive? What is the profit to the investment bank?
the Looney Landscaping Corp. receives $160,000,000 from the stock sales.
The total profit for the investment bank would be 16,000,000 x $1.50= $24,000,000.
Looney Landscaping Corp. would receive 16,000,000 x $8.75= $140,000,000 if the investment bank can sell the shares for only $8.75.
The loss of the investment bank would be 16,000,000 x ($10.00-$8.75)= $20,000,000.
When the investment bank sells the shares to the public for $11.50 per share:
Looney Landscaping Corp. receives: 16 million shares x $10.00 per share = $160 million
Profit to the investment bank: (16 million shares x ($11.50 - $10.00) per share) = $24 million
When the investment bank sells the shares for only $8.75 per share:
Looney Landscaping Corp. receives: No additional money is received in this scenario. The agreement was for the investment bank to pay $10.00 per share to Looney Landscaping Corp. regardless of the price at which they sell the shares to the public.
Profit to the investment bank: (16 million shares x ($8.75 - $10.00) per share) = -$20 million
In this case, the investment bank would incur a loss of $20 million because they are selling the shares for a lower price than what they agreed to pay to Looney Landscaping Corp.
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The following selected financial data was extracted from the books of Puran Ltd, a company listed on the local stock exchange:
Total Liabilities $3,192,000
Common stock ($0.1 par value) - Authorized 4,000,000 shares; - Issued and outstanding, 3.500.000 shares valued at $350.000.
Retained earnings $241,000 excess of par $2,415,000 $3,006,000
Share price: January 3, 2019-$1.10;
December 31, 2019 - $0.86
2019 Partial Z-Score = X1+X2+x3+X5 -1.53.
Puran's Z-score
Select one:
a. puts them in the zone of Ignorance
b. makes them Immediately qualified for the loan
c. makes them not qualified for the loan
d. needs further data to complete its calculation
As a result, the answer to the question "Puran's Z-score" is "needs further data to complete its calculation."Hence, the correct answer is d. needs further data to complete its calculation.
The Z-score of a company is used to assess the health of the company and its likelihood of going bankrupt. It is calculated based on financial data such as profitability, leverage, liquidity, solvency, and efficiency. Z-scores above 2.99 indicate a healthy company, scores between 1.81 and 2.99 indicate a company in the gray area, and scores below 1.81 indicate a company that may be headed for bankruptcy.
Puran Ltd's 2019 partial Z-score is calculated as
X1+X2+x3+X5 -1.53.
The X4 is not used because the company is not private.
According to the question, X1 is profitability, X2 is leverage, X3 is liquidity, X5 is efficiency, and X4 is not used because the company is not private.
Unfortunately, the actual values of these variables are not provided, and hence we cannot calculate the company's complete Z-score or interpret the partial Z-score.
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mike is a cpa and earns $200,000 from his cpa practice in 2022. he also received $45,000 in dividend income. in addition, he incurred a loss of $45,000 from an investment in a passive activity acquired three years ago. what is mike's agi for 2022 after considering the $50,000 loss in the passive activity?$195,000$245,000$200,000$150,000
Mike's AGI for 2022 will be $245,000. Answer: $245,000.
Mike is a CPA and earns $200,000 from his CPA practice in 2022. He also received $45,000 in dividend income. In addition, he incurred a loss of $45,000 from an investment in a passive activity acquired three years ago. To find Mike's AGI for 2022 after considering the $50,000 loss in the passive activity, we need to calculate the passive activity loss deduction. We know that a passive activity is a business or trade in which a person does not actively participate. It may include rental properties, limited partnerships, and other activities where the person doesn't participate actively in the business. If the passive activity results in a loss, the taxpayer can deduct up to $25,000 of the loss from their ordinary income. However, the deduction begins to phase out when the taxpayer's AGI exceeds $100,000. The deduction is completely phased out when the AGI is $150,000 or more.
Since Mike has an AGI of $245,000 ($200,000 from his CPA practice and $45,000 in dividend income), he cannot take the passive activity loss deduction. Therefore, his AGI for 2022 will be $245,000. Answer: $245,000.
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in the preliminary investigation report, the ____ section contains the results of the preliminary investigation, including a description of the project’s scope, constraints, and feasibility.
In the preliminary investigation report, the findings section contains the results of the preliminary investigation, including a description of the project’s scope, constraints, and feasibility.
A preliminary investigation report is used to provide the sponsor with a comprehensive understanding of the proposed project's background, goals, and issues. It includes research, reports, and interviews with stakeholders. The findings section of the preliminary investigation report, which summarizes the results of the preliminary investigation, is critical.
The preliminary findings report's purpose is to inform the sponsor of the project's feasibility and whether or not it should be continued. The findings section is the preliminary investigation report's most important section. This is where all of the preliminary investigation's data is analyzed and processed. It includes a description of the project's scope, constraints, and feasibility.
It provides a comprehensive summary of the sponsor's needs and objectives. The report examines how the project will meet the sponsor's objectives while staying within the proposed constraints. A project's preliminary investigation is crucial since it sets the stage for the project's entire life cycle.
The project team will build the project plan and create the product or service based on the results of the preliminary investigation. The sponsor, project team, and stakeholders rely heavily on the preliminary investigation report's findings section to make decisions and create the project plan. Thus, the findings section of a preliminary investigation report is a critical aspect of the project management process.
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86. Which of the following statements is true about a promise to make a gift? Multiple Choice Upon delivery of the item, a true gift can be enforceable as a property transfer Promissory estoppel prevents a gift from being enforceable. A promise to make a gift is binding as a contract as it usually supports the bargain. A promise to make a gift becomes an option when it has a clause in the agreement that revokes the gift Insignificant consideration in return for a great one raises concerns that the exchange is actually not a gift.
A promise to make a gift is binding as a contract as it usually supports the bargain. This statement is true about a promise to make a gift.The correct answer is B.
A gift is a transfer of property from one person to another without consideration. Because it lacks consideration, a gift is not enforceable as a contract. The donor must intend to give the gift, the gift must be made to the donee, and the donee must accept the gift for a gift to be considered valid.
The terms of the contract become enforceable when the donee has provided consideration in exchange for the promise of the gift. When the bargain has been fulfilled, the donee is entitled to the gift. If the agreement is revoked, the donee may still be able to sue for the value of the consideration provided.
The exchange may not be considered a gift if insignificant consideration is exchanged for a greater one. This may suggest that the exchange was not meant to be a gift and that there was an exchange of consideration.
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TRUE / FALSE. Question 6 (5 points) Listen HR can contribute by recruiting and retaining employees who can perform high- quality work or provide exemplary customer service with a business that engages in a differentiation strategy. True False Question 7 (5 points) 40 Listen A retrenchment or turnaround strategy is an approach the organization takes when it determines the current operations are not effective and HR gets involved to manage the process involving its employees. True False Question 8 (5 points) Listen The framework of jobs, positions, clusters of positions, and reporting relationships among the positions used to construct an organization. N Question 9 (5 points) Listen ww A critical component in the workplace --stress is a major responsibility for HR managers to understand its causes, the processes of its affects on employees, and how both the organization and individuals can cope within the organizational setting. True False Question 10 (5 points) 40Listen ▶ The corporate strategy should be closely tied to the HRM practices of any organization and each of the other types of strategies will have different implications for HRM practices. True False 4
TRUE. HR can contribute by recruiting and retaining employees who can perform high-quality work or provide exemplary customer service with a business that engages in a differentiation strategy.
Question 7: TRUE. A retrenchment or turnaround strategy is an approach the organization takes when it determines the current operations are not effective and HR gets involved to manage the process involving its employees.
Question 8: FALSE. The correct framework of jobs, positions, clusters of positions, and reporting relationships among the positions used to construct an organization is known as organizational structure.
Question 9: TRUE. Stress is a critical component in the workplace, and it is a major responsibility for HR managers to understand its causes, the processes of its affects on employees, and how both the organization and individuals can cope within the organizational setting.
Question 10: TRUE. The corporate strategy should be closely tied to the HRM practices of any organization, and each of the other types of strategies will have different implications for HRM practices.
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Use lean accounting to prepare journal entries for the following transactions. 1. Sold $33,650 of goods for cash. 2. Recorded cost of goods sold of $23,650 and finished goods inventory of $1,900. View
Using lean accounting principles, the journal entry for the transaction "Sold $33,650 of goods for cash" would be as follows Date: [Date of the transaction], Debit: Cash [$33,650], Credit: Revenue [$33,650].
Lean accounting focuses on eliminating waste and simplifying the accounting process.
In this transaction, the company sold goods for cash, which results in an increase in the cash balance. Therefore, cash is debited for the amount received.
On the other hand, revenue is credited to recognize the increase in the company's income as a result of the sale.
The use of lean accounting emphasizes a simplified approach, where excessive accounts and complex allocation methods are avoided.
Instead, it focuses on providing relevant and timely information that is essential for decision-making.
By keeping the journal entry straightforward and concise, lean accounting principles allow for a more efficient and effective financial reporting process.
This approach eliminates non-value-added steps and reduces complexity, enabling the company to focus on value creation and continuous improvement.
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Question: Use lean accounting to prepare journal entries for the following transactions. 1. Sold $33,650 of goods for cash. 2. Recorded cost of goods sold of $23,650 and finished goods inventory of $1,900. View transaction list Journal entry worksheet A B > Sold $33,650 of goods for cash. Note: Enter debits before credits. Transaction 1 Record entry General Journal Clear entry Debit Credit View general journal.
All of the following accounts are to be credited when a bond
investment is sold ahead of its maturity except
a. Interest income
b. Cash
c. Trading securities
When a bond investment is sold ahead of its maturity, all of the following accounts are to be credited except Trading securities.
The correct option is c. Trading securities.
The term bond investment refers to the process of investing money in bonds in order to gain a profit on the interest and principal payments that are made on them over time.
Trading securities are securities that are bought and held primarily for the purpose of selling them within a short period of time in order to take advantage of price changes. They are listed on the balance sheet as current assets and are valued at their fair market value.
Bonds are a type of fixed-income security that is similar to a loan, in which the investor loans money to a corporation or government entity for a predetermined amount of time at a fixed interest rate.
Hence, the answer is C.
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Moving to another question will save this response. Question 17 What is the risk premium for T&5 Footwear stock if its expected real return is 11.33, the expected inflation rate is 4.31%, and the risk-free return is 2.847 13.2954 por minus 005 percentage points) OBA (or min 0.05 percentage points) 16 10% (plus minus 005 percentage points) 11.82% plus or minus 05 percentage ports) None of the above is within 005 perantage points of the correct answer Question 17 of 20 5 points Quen 17 of 20
The risk premium for T&5 Footwear stock if its expected real return is 11.33, the expected inflation rate is 4.31%, and the risk-free return is 2.847 is 4.29% (within 0.05 percentage points of the correct answer).
Risk premium is an excess return that is achieved over and above the risk-free rate of return. It is also known as excess return. The risk-free rate is the minimum rate of return that an investor expects to earn on their investment without taking on any risk.
The expected real return on T&5 Footwear stock is 11.33. Inflation rate is 4.31%.Risk premium is calculated by the following formula: Risk premium = Expected real return - Risk-free rate In the question, the expected real return is 11.33 and the risk-free return is 2.847. Therefore, the risk premium = 11.33 - 2.847 = 8.483The formula to calculate the nominal rate of return is as follows: Nominal rate of return = (1 + Real rate of return) × (1 + Inflation rate) - 1Nominal rate of return = (1 + 11.33%) × (1 + 4.31%) - 1 = 15.0583%Therefore, the risk premium for T&5 Footwear stock is 4.29% (within 0.05 percentage points of the correct answer).
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Generally, the ________ value is more important than the __________ value of a given statistic since it is more contextual. Select the two responses below that correctly fill in the blanks. Select all that apply:
nominal; real
real; nominal
unadjusted; inflation-adjusted
inflation-adjusted; unadjusted
Generally, the inflation-adjusted value is more important than the unadjusted value of a given statistic since it is more contextual.
The inflation-adjusted value takes into account the effects of inflation, providing a more accurate representation of the purchasing power or economic impact of a statistic. It allows for meaningful comparisons across different time periods and adjusts for changes in the overall price level. In contrast, the unadjusted value does not consider inflation and may be misleading when comparing data from different time periods. Therefore, the inflation-adjusted value is considered more important as it provides a clearer understanding of the underlying trends and changes in economic or financial indicators.
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Question #1 (40 Marks) ABC Company manufactures chairs for the retail market. The December budgeted amounts were to manufacture 28,000 chairs, at a variable cost of $60 per chair. The budgeted total f
ABC Company budgeted to manufacture 28,000 chairs at a variable cost of $60 per chair and a selling price of $120 per chair.
The actual sales were 25,500 chairs at a selling price of $125 per chair.
How to explain thisThe expenses that fluctuated with the production quantity totaled to $1,912,500 whereas the costs that remain static throughout the production cycle amounted to $525,000.
The company failed to reach its profit targets because of decreased sales and increased variable expenses. The fixed expenses of the company were less than the estimated amount, assisting in mitigating some of the financial setbacks.
Here are a few potential explanations for the decreased sales figures:
There is a possibility that the company miscalculated the level of demand for their chairs.
The company may have faced increased competition from other manufacturers.
The company may have raised its prices, which made its chairs less affordable to some customers.
Here are some of the possible reasons for the higher variable costs:The company may have used more expensive materials in its chairs.
The company may have had to pay higher wages to its employees.
The company may have had to pay more for shipping and other costs associated with the production and sale of its chairs.
The company should investigate the reasons for the lower sales volume and the higher variable costs in order to improve its profitability in the future.
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Question #1 (40 Marks) ABC Company manufactures chairs for the retail market. The December budgeted amounts were to manufacture 28,000 chairs, at a variable cost of $60 per chair. The budgeted total fixed costs were $575,000 and the budgeted selling price per chair was $120. The actual sales were 25,500 chairs that were sold for $125 each. The actual total variable costs were $1,912,500 and the actual fixed costs were $525,000.
What are the possible reasons for lower sales volume?
Danamin Sdn.Bhd manufactures all kinds of sugar namely, caster sugar, brown sugar, cane sugar, fruit sugar and confectioner’s sugar. The manager is considering whether to buy or process one ingredient, material Y. The cost of manufacturing material Y is estimated to be:
Direct material RM3,000
Direct Labour RM900
Variable overhead RM2,000
Fixed Overhead RM5,000
The material Y can be purchased from an outside supplier for RM8,000.
The production of material Y requires 1,000 hours of a special machine which is now fully utilized to mix and process gula melaka. If production of material Y is undertaken, production of processed gula Melaka would be reduced by 5,000 kg resulting in a loss if revenue of RM3,000. The marginal costs of producing 5,000 kg of processed gula Melaka is RM2,000.
Required:
Should the company make or buy material Y? Show the computations.
The company should buy the material Y as buying the material would be cheaper than producing it (RM8,000< RM10,900). It will be better to buy material Y from an outside supplier as it is cheaper than manufacturing it.
Danamin Sdn.Bhd manufactures different kinds of sugar, such as caster sugar, brown sugar, cane sugar, fruit sugar, and confectioner's sugar.
The company has to decide whether to produce or purchase material Y. The production cost of material Y is Direct material RM3,000, Direct Labor RM900, Variable overhead RM2,000, and Fixed Overhead RM5,000. On the other hand, the material Y can be bought from the supplier at RM8,000.
The production of material Y requires 1,000 hours of a special machine which is now fully utilized to mix and process gula melaka.
If the company undertakes the production of material Y, the production of processed gula Melaka would be decreased by 5,000 kg, leading to a revenue loss of RM3,000. The marginal cost of producing 5,000 kg of processed gula Melaka is RM2,000.
The total production cost of material Y is RM10,900 (RM3,000+RM900+RM2,000+RM5,000).
The company can purchase the material Y from the supplier at RM8,000.
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Given the following parameters: Perfect Competition in Output Market Perfect Competition in Labour Market P is constant w is constant P = $100 W = $10 Q = L^0.5 Calculate the optimal amount of labour O a. 40 b. 10 O c. 25 O d. 20 e. 30
The optimal amount of labor is 20. In perfect competition, the optimal level of labor is determined by equating the marginal product of labor (MPL) to the wage rate (W).
Given the production function [tex]Q = L^0.5[/tex], the MPL is calculated as the derivative of the production function with respect to labor [tex](dQ/dL)[/tex].
Taking the derivative of Q with respect to L, we get [tex]MPL = 0.5 * L^(-0.5).[/tex]Setting MPL equal to the wage rate W, which is $10, we have [tex]0.5 * L^(-0.5[/tex]) = $10.
Solving this equation for L, we find L = 20. Therefore, the optimal amount of labor required to maximize output is 20.
This means that at the wage rate of $10 and the given production function, the firm should employ 20 units of labor to achieve the highest level of output. The other options (40, 10, 25, and 30) are not the optimal amounts of labor as they do not satisfy the condition of MPL equaling the wage rate.
Therefore, the correct option is (d) 20.
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Complete the following by calculating the cash discount and net amount paid: (If more than one discount, assume date of last discount.) Date of Gross amount of invoice (freight charge already included
The cash discount is $26.00 and the net amount paid is $624.00.
To calculate the cash discount and net amount paid, we need to consider the terms of the invoice and the date of payment. The terms of the invoice state "4/10, 2/15, n/30." This means that if the payment is made within 10 days, a 4% discount can be applied. If the payment is made within 15 days, a 2% discount can be applied. Otherwise, the full amount is due within 30 days.
The date of payment is given as 8/15. Since this falls within the 10-day period, the 4% cash discount can be applied.
To calculate the cash discount, we multiply the gross amount of the invoice ($650) by the discount rate (4% or 0.04):
Cash discount = $650 * 0.04 = $26.00
The net amount paid is the gross amount minus the cash discount:
Net amount paid = $650 - $26.00 = $624.00
Therefore, the cash discount is $26.00, with a net payment of $624.00.
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Lazy Guy Corporation manufactured 3,000 chairs during June. The following variable overhead data relates to June:
Budgeted variable overhead cost per unit= $20.00
Actual variable manufacturing overhead cost=$49,500
Flexible-Budget amount for variable manufacturing overhead=$46,500
Variable manufacturing overhead efficiency variance=$800 unfavorable
What is the variable overhead spending variance?
A. $3,000 Unfavorable
B. $2,200 Favorable
C. $2,200 Unfavorable
D. $3,000 Favorable
The correct answer is A. $3,000 Unfavorable. To calculate the variable overhead spending variance, we need to find the difference between the actual variable overhead cost and the flexible budget amount.
Variable overhead spending variance = Actual variable manufacturing overhead cost - Flexible budget amount for variable manufacturing overhead
Variable overhead spending variance = $49,500 - $46,500
Variable overhead spending variance = $3,000
Therefore, the variable overhead spending variance is $3,000 unfavorable.
The correct answer is A. $3,000 Unfavorable.
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Identify the item that best completes each of the descriptions below. 1. Asset 2. Equity 3. Account 4. Liability 5. Three a. Balance sheet accounts are arranged into. general categories. b. The owner'
a. Balance sheet accounts are arranged into five general categories.
b. The owner's claim on a company's assets is called equity.
c. Accounts Payable and Notes Payable are examples of liability accounts.
d. Accounts Receivable, Prepaid Accounts, Supplies, and Land are examples of asset accounts.
e. A(n) account is a record of increases and decreases in a specific asset, liability, equity, revenue, or expense item.
In financial accounting, a balance sheet is a statement that provides a snapshot of a company's financial position at a specific point in time. It presents a summary of a company's assets, liabilities, and equity. The balance sheet accounts are grouped into five main categories: assets, liabilities, equity, revenue, and expenses.
Assets represent the resources owned by a company and can be tangible (e.g., cash, inventory, property) or intangible (e.g., patents, trademarks). Liabilities are obligations owed by a company to external parties, such as loans, accounts payable, or accrued expenses. Equity represents the owner's claim on the company's assets, and it is calculated as the difference between assets and liabilities.
Accounts Payable and Notes Payable are examples of liability accounts because they represent amounts owed to creditors. Accounts Receivable, Prepaid Accounts, Supplies, and Land are examples of asset accounts because they represent resources owned by the company.
Lastly, an account is a record or a financial record that tracks the increases and decreases in a specific item (such as an asset, liability, equity, revenue, or expense) over a given period. It helps in tracking transactions and maintaining accurate financial records for reporting and analysis purposes.
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Note-The complete question is this
Identify the item that best completes each of the descriptions below.
1. Asset 2.Equity 3. Account 4. Liability 5. Three
a. Balance sheet accounts are arranged into ______ general categories.
b. The owner's claim on a company's assets is called ______ .
c. Accounts Payable and Notes Payable are examples of ______accounts.
d. Accounts Receivable, Prepaid Accounts. Supplies. and Land are examples of ______ accounts.
e. A(n) ______ is a record of increases and decreases in a specific asset, liability, equity. revenue, or expense item.
an online company hired you as a project manager. you
quickly realize that they donot have a change management system. To
establish a new management system how would you approach it. please
As the newly hired project manager of an online company, your first task is to establish a change management system that will benefit the company and ensure the success of its projects. Below are some steps to approach it:1. Identify the Need: The first step in establishing a change management system is to identify the need for one.
As a project manager, you should look for areas in the company where a change management system is required.2. Plan the Implementation: Once you have identified the areas that need change management, you should start planning the implementation. The implementation plan should be based on the company's goals, the size of the company, and the resources available.3. Communicate the Plan: After planning the implementation, you should communicate the plan to the stakeholders, including management, employees, and other relevant parties.
4. Create Awareness: You should create awareness about the benefits of a change management system to the stakeholders. This will ensure that they are supportive of the system and will use it when required.5. Train Employees: You should train the employees on how to use the change management system.6. Review the System: After the implementation of the system, you should review it to ensure that it is working effectively. This includes analyzing its performance and seeking feedback from the stakeholders.
In conclusion, establishing a change management system requires proper planning, communication, and training. It is important to identify the areas that need change management and create awareness among stakeholders about its benefits. The success of the system depends on its implementation and review.
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Consider an investment scenario that returns a level stream of four annual payments of $10,000 each (i.e., an annuity). The first payment occurs at the end of the first year, and the subsequent payments occur at the end of each of the next three years. The discount rate is assumed to be 6% annually. (a) Calculate the present value of the investment as of the beginning of the first period. Use the appropriate present value table. (b) Using the present value tables, calculate how your answer to part (a) would differ if you change the assumption to eight semiannual (end of period) $5,000 payments, with the 6% annual rate being revised to 3% for each semiannual period.
(a) To calculate the present value of the investment with four annual payments of $10,000 each, we can use the formula for the present value of an annuity:
[tex]\[PV = PMT \times \left(1 - \left(1 + r\right)^{-n}\right) / r\][/tex]
Where:
[tex]PV &\text{ = Present value} \\[/tex]
[tex]PMT &\text{ = Payment amount per period} \\[/tex]
[tex]r &\text{ = Interest rate per period} \\[/tex]
[tex]n &\text{ = Number of periods}[/tex]
In this case, PMT = $10,000, r = 6% (0.06), and n = 4.
Plugging these values into the formula:
[tex]\[PV = $10,000 \times \left(1 - \left(1 + 0.06\right)^{-4}\right) / 0.06\][/tex]
Using a financial calculator or spreadsheet, the present value is approximately $34,759.66.
(b) If we change the assumption to eight semiannual payments of $5,000 each, with a 3% (0.03) interest rate per semiannual period, we need to adjust the formula accordingly.
Now, the number of periods (n) becomes 8, and the interest rate per period (r) becomes 3% (0.03) for each semiannual period. However, the payment amount per period (PMT) remains $5,000.
[tex]\[PV = $5,000 \times \left(1 - \left(1 + 0.03\right)^{-8}\right) / 0.03\][/tex]
Using a financial calculator or spreadsheet, the present value is approximately $34,036.35.
Therefore, by changing the assumption to eight semiannual payments with a revised interest rate of 3% for each semiannual period, the present value of the investment decreases to approximately $34,036.35.
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Charlie offers to buy all Hera outstanding common stock for $800 million, believing that Hera is worth $650 million. Delta uses an internal rate of return of 7% on all investment and financing decisions, and plans to issue $700 million in new debt to finance the deal. If Charlie believes the numbers make financial sense, what minimum synergistic benefits must be estimated to exist in this deal?
The minimum synergistic benefits estimated to exist in this deal must be at least $150 million.
To determine the minimum synergistic benefits required for the deal to make financial sense, we need to compare the value that Charlie believes Hera holds ($650 million) with the amount he is willing to pay for all outstanding common stock ($800 million). The difference between these two values represents the minimum synergistic benefits that must be estimated.
Given:
Charlie's offer for all Hera outstanding common stock: $800 million
Charlie's estimated value of Hera: $650 million
Delta's internal rate of return (discount rate): 7%
Delta's planned debt issuance to finance the deal: $700 million
To assess the financial feasibility of the deal, we need to calculate the net present value (NPV) of the transaction. The NPV represents the present value of expected cash flows discounted at the internal rate of return.
NPV = Present value of cash flows - Initial investment
In this case, the initial investment is the amount Charlie is willing to pay for all outstanding stock ($800 million). The present value of cash flows can be calculated as the value Charlie believes Hera holds ($650 million) plus the estimated synergistic benefits (SB).
NPV = $650 million + SB - $800 million
To determine the minimum synergistic benefits required, we need the NPV to be greater than or equal to zero. Thus:
$650 million + SB - $800 million ≥ 0
Simplifying the inequality:
SB ≥ $800 million - $650 million
SB ≥ $150 million
Therefore, the minimum synergistic benefits estimated to exist in this deal must be at least $150 million for Charlie to consider the numbers to make financial sense.
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