Answer:
The correct word for the blank space is: Ordinal.
Explanation:
Ordinal data is one of the four (4) types of measurement scales that values in order of importance the rating that can be provided over a subject. However, the difference between each of the rates is not clear. Usually, this approach aims to measure comfort, experience or satisfaction.
The respondent indicating their dining experience was "good" is providing ordinal scale data, which allows ranking without measurable differences. This differs from quantitative discrete data, which involves countable numbers, and qualitative data, which includes subjective insights gathered through more open questions.
Explanation:The survey data collected about a person's dining experience, where the responses range from "excellent" to "poor," exemplifies ordinal scale data. Ordinal scale data allows for ranking of responses, but the differences between the ranks are not measurable. In our example, the response of "good" indicates a preference that is higher than "fair" or "poor" and lower than "excellent," but we cannot quantify the difference between these rankings.
Survey questions using the Likert-response scale also generate ordinal scale data. For instance, when a question asks for the level of agreement to a statement with options ranging from "strongly disagree" to "strongly agree," respondents rank their level of agreement without specifying the magnitude of difference between the choices.
In contrast, quantitative discrete data would involve numerical responses that can be counted, such as the number of tickets sold to a concert. Qualitative data, on the other hand, includes subjective responses that contain more in-depth opinions, beliefs, or feelings, often gathered through open questions or content analysis.
Dannon Yogurt represents what type of product for most consumers?
a. Business
b. Durable
c. Convenience
d. Shopping
e. Specialty
Answer:
c. Convenience
Explanation:
The convenience product is that product which is routinely or immediately purchased. The Dannon yogurt is easy to buy, as it has a very low price so every class can be purchased.
The Dannon yogurt is a perishable commodity that is perishable in nature and is to be consumed daily.
Examples of this convenience product include yogurt, milk, juices, candy,etc.
Pompeii, Inc., has sales of $53,500, costs of $24,400, depreciation expense of $2,600, and interest expense of $2,350. If the tax rate is 25 percent, what is the operating cash flow, or OCF?
The operating cash flow for Pompeii, Inc. can be calculated by first determining earnings before tax, calculating the tax payment, and then using the formula OCF = (Sales - Costs) + Depreciation - Taxes. This results in an OCF of $25,662.50.
Explanation:The question involves calculating the operating cash flow (OCF) for Pompeii, Inc. To determine OCF, we apply the following formula:
OCF = (Sales - Costs) + Depreciation - Taxes
First, we need to calculate the company's earnings before tax and the tax payment:
Earnings before tax (EBT) = Sales - Costs - Depreciation - Interest expense Earnings before tax (EBT) = $53,500 - $24,400 - $2,600 - $2,350 Earnings before tax (EBT) = $24,150 Tax payment = EBT × Tax rate Tax payment = $24,150 × 25% Tax payment = $6,037.50
Now, we can calculate the operating cash flow (OCF):
OCF = (Sales - Costs) + Depreciation - Taxes OCF = ($53,500 - $24,400) + $2,600 - $6,037.50 OCF = $25,662.50
Therefore, the operating cash flow for Pompeii, Inc. is $25,662.50.
Page(s) 47-49 2.4. What is the trade-off between having more now and having more later? Fill in the blanks to complete the passage about trade-offs. It is characteristic of – goods that they are not used up in the short run. A society can choose to – some quality of life now—fewer consumer goods—in order to build up its stock of capital goods. This will lead to a –—and more consumer goods—later on.
The trade-off between having more now and having more later involves sacrificing current consumption to invest in capital goods, which can increase future production and consumption.
Explanation:The trade-off between having more now and having more later is one central to economics, involving current consumption versus future wealth. It is characteristic of capital goods that they are not used up in the short run. A society can choose to sacrifice some quality of life now—fewer consumer goods—in order to build up its stock of capital goods. This will lead to an increase in production—and more consumer goods—later on. This is because capital goods, like machinery and factories, are used to produce consumer goods. By sacrificing immediate consumption and investing in these capital goods instead, a society can increase its future production capacity.
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The trade-off between immediate consumption and future benefits is a decision-making process where present luxuries are sacrificed to improve future living standards through investments in capital goods and human capital.
The trade-off between having more now and having more later involves decision-making where present consumption is sacrificed to enhance future production. It is characteristic of capital goods that they are not used up in the short run. A society can choose to forego some quality of life now—fewer consumer goods—in order to build up its stock of capital goods. This will lead to a higher standard of living—and more consumer goods—later on.
By investing in capital goods and education, which increases human capital, societies make a conscious choice to delay immediate gratification for a potentially more prosperous future. This concept highlights the importance of resource allocation between current consumption and future growth opportunities. For individuals, like college students, investing time and money in education can mean short-term sacrifices for the prospect of a higher income and thus greater consumption in the future.
The advantages of a data warehouse over a data mart include all of the following EXCEPT one. Select the one that is not an advantage.
Data Mart allows faster access of Data.
Data Mart is easy to use as it is specifically designed for the needs of its users. Thus a data mart can accelerate business processes.
Many a times enterprises create too many disparate and unrelated data marts without much benefit. It can become a big hurdle to maintain.
Answer:
Many a times enterprises create too many disparate and unrelated data marts without much benefit. It can become a big hurdle to maintain.
Explanation:
A data mart is an Information technology structure or pattern specific to data warehouse environments.
Data mart is an element of data warehouse. It is used to retrieve data related to client-facing activities and is usually designed specifically for the needs of its users.
Based on the options given, the disadvantage of data mart is that many a times enterprises create too many disparate and unrelated data marts without much benefit. It can become a big hurdle to maintain.
It should be noted that statement that doesn't belong to advantages of a data warehouse over a data mart is
Many a times enterprises create too many disparate and unrelated data marts without much benefit. It can become a big hurdle to maintain.A data mart can be regarded as structure which is been to data warehouse environments, and it act as avenue for retrieving client-facing data.
with data Mart there us usually faster access of Data and easy use of it because it is specifically designed for the needs of its users.
Therefore, one disadvantages of a data warehouse over a data mart is many a times enterprises create too many disparate and unrelated data marts without much benefit.
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When identifying your interests as you prepare to conduct your job search, what questions should you ask yourself? List all that apply
Answer and explanation:
Job research should be taken seriously if individuals want to match their expectations with what a company may offer. Otherwise, disappointments will arise leading them to start a job and quitting after a short period. In the long run, that scenario will not help professionals to make a path career. So, common questions that must be asked while identifying a personal interest in job research are:
Will I be able to find peers and coworkers that will help me grow professionally and personally? Will I be able to apply the knowledge acquired at school? Will I be allowed to express my personal opinion if there is something I do not like about the company? Will I be able to follow a path career in that company? Will the salary the offer be enough according to my expenses and expectations?
Which costs are correlated with the firm’s sales and include the costs of labor, raw materials, and sales commissions?
a. fixed
b. flotation
c. variable
d. direct
Answer:
The correct answer is letter "B": direct.
Explanation:
Direct Costs for finished goods refer to the items and services directly used in production. Other costs such as rent and insurance for the production site are indirect costs. Examples of direct costs are direct labor and materials, manufacturing supplies or even commissions out of sales.
Inventory records for Dunbar Incorporated revealed the following:Date Transaction Number of units Unit CostApr. 1 Beginning inventory 450 $2.19 Apr. 20 Purchase 410 2.69 Dunbar sold 590 units of inventory during the month. Ending inventory assuming LIFO would be (Do not round your intermediate calculations. Round your answer to the nearest dollar amount):a. $726.b. $591.c. $1,103.d. $986.
Answer:
Explanation:
1. Calculate ending inventory Rate per unit Total cost
number of units ($) ($)
Beg bal (April1) 450 2.19 985.50
Add:purchases
April 20 410 2.69 1102.90
-----------------------------------------------------------------------------
Total goods
av for sale 860 2088.40
Less: Sales:
During April 590
--------------------------------
Ending inventory 270
2. Cost of ending inventory = 270*2.19=$591.3
Jerry is using social media to market products directly to end users. This type of marketing is defined as real-time feedback crowdsourcing businesses-to-consumer feedback loops direct sales
Answer:
The correct answer is letter "C": businesses-to-consumer.
Explanation:
Businesses-to-consumer (B2C) sales are those in which the manufacturer or firm directly offers its product or services to the final users. The advantage of this practice is charging higher since companies do not have to consider a special price for suppliers to earn profits. The drawback lays in the fact that en users usually purchase items in small sizes.
Falconer Company had net (after-tax) income last year of $14,107,956 and total capital employed of $131,869,720. Falconer's actual cost of capital was 12%.
Required:
1. Calculate the EVA for Falconer Company. Enter negative values as negative numbers, if required. Round your answer to the nearest dollar. $
2. Conceptual Connection: Is Falconer creating or destroying wealth?
Answer:
1. -$1,716,410.40
2. destroying wealth
Explanation:
The formula to compute EVA is shown below:
1. = Net operating income or earnings after taxes - (total capital employed × actual cost of capital)
= $14,107,956 - ($131,869,720 × 12%)
= $14,107,956 - $15,824,366.40
= -$1,716,410.40
2. As we see that the amount comes in negative that represent the wealth is destroyed
Who does not face trade-offs?
a. Super-rich CEOs of high-powered corporations
b. You
c. The U.S. government
d. Everybody faces trade-offs You The U.S. government
Answer:
The correct answer is letter "D": Everybody faces trade-offs.
Explanation:
Trade-offs are closely related to the scarcity problem. Scarcity is the basic economic problem that arises because people have unlimited wants but resources are limited. Because of scarcity, various economic decisions must be made to allocate resources efficiently. There is when individuals have to sacrifice one need or part of it to fulfill a major benefit. Trade-offs are experienced in that case and not only individuals but also, companies and governments deal with these situations.
Firms HL and LL are identical except for their financial leverage ratios and the interest rates they pay on debt. Each has $10 million in invested capital, has $1.5 million of EBIT, and is in the 25% federal-plus-state tax bracket. Firm HL, however, has a debt-to-capital ratio of 55% and pays 11% interest on its debt, whereas LL has a 30% debt-to-capital ratio and pays only 10% interest on its debt. Neither firm uses preferred stock in its capital structure. Calculate the return on invested capital (ROIC) for each firm.
Answer:
0.1125 or 11.25% for each firm
Explanation:
Given that,
Each has $10 million in invested capital,
$1.5 million of EBIT
25% federal-plus-state tax bracket
ROIC for LL:
= [EBIT × (1 - tax rate)] ÷ invested capital
= [1.5 × (1 - 25%)] ÷ 10
= 0.1125 or 11.25%
ROIC for HL
= [EBIT × (1 - tax rate)] ÷ invested capital
= [1.5 × (1 - 25%)] ÷ 10
= 0.1125 or 11.25%
Therefore, the return on invested capital (ROIC) for each firm is 11.25%
Review how organizations interact with their external environment (as open systems and complex adaptive systems).
How effective was Wells Fargo as an open system and as a complex adaptive system before the scandal became public?
Answer:
For an organization to survive, it must exchange information with it's external environment. An organization has no control over it's external environment, hence, it as to use the information of it's external environment for planning.
Explanation:
Wells Fargo, was one of the most valued bank, that operated a successful open system, before the scandal became public. However, it could not survive it's complex external environment, as the scandal had damaged the reputation of the bank, which largely affected the bank's market share.
Final answer:
Wells Fargo effectively interacted with its external environment as an open system by adapting to economic variables and customer demands. However, the scandal revealed inadequacies in its function as a complex adaptive system, marked by a failure to internalize and adapt to ethical standards and regulatory compliance.
Explanation:
Organizations such as Wells Fargo interact with their external environment through open system and complex adaptive system frameworks. Open systems partake in mutual exchange with external environments and are characterized by adaptability and response to external changes. As a complex adaptive system, an organization demonstrates the capacity to evolve its internal structure and behaviors in reaction to the external environment, thereby showcasing resilience and flexibility in the face of systemic pressures and changes. Prior to the public scandal, Wells Fargo was effective as an open system in its ability to engage with and adapt to external economic variables and customer demands. However, its effectiveness as a complex adaptive system was ultimately compromised by internal dysfunctions, leading to the scandal's emergence. These dysfunctions demonstrate a failure in the system's ability to adequately adapt and evolve its internal processes and cultural norms to maintain ethical standards and regulatory compliance, which is critical for the long-term resilience and survival of a complex adaptive system.
Selected data from a February payroll register for Coronado Company are presented below. Some amounts are intentionally omitted. Gross earnings: State income taxes $(3) Regular $9,000 Union dues 190 Overtime (1) Total deductions (4) Total (2) Net pay $7,517 DeductionsAccount debited: FICA taxes $ 765 Salaries and wages expense (5) Federal income taxes 1,128 FICA taxes are 7.65%. State income taxes are 4% of gross earnings.
Answer:
1. Overtime= $1,000
2. Gross Pay= $10,000
3. State Income Taxes = $400
4. Total Deductions= $2,483
5/ Salaries and wages expenses = $10,000 (Gross Pay)
Explanation:
The question says to find the following:
1. Overtime
2. Total
3. State Income Taxes
4. Total Deductions
5. Salaries and Wages Expense
1. Overtime
Overtime is derived after calculating the total Gross Pay (2nd question)
Total Gross Pay= Regular + Overtime
$10,000= $9,000 + Overtime
Therefore, Overtime = $10,000-$9,000
Overtime= $1,000
2. Total Gross Pay (this should be treated before the 1st which is overtime)
= Gross Pay =
= calculated as FICA tax expense /the percentage of FICA taxes
FICA tax expense = $765
% of FICA taxes = 7.65
Gross Pay= $765 / 7.65% (0.0765)
= $10,000
3. State Income Tax
The state Income Taxes is derived as follows
Gross Pay x the given percentage (4%)
State Income taxes = $10,000 x 0.04
State Income taxes = $400
4. Calculate the total deductions
Total Deductions are the sum of the following
FICA taxes + federal Income taxes + State Income taxes + Union dues
= $765+ $1,128+$400+$190
= $2,483
5. Salaries and Wages Expense
The answer to this is simply the derived total gross pay (regular + overtime) Calculated in step 2
Gross pay= salaries and wages expense= $10,000
Pinewood Company purchased two buildings on four acres of land. The lump-sum purchase price was $1,200,000. According to independent appraisals, the fair values were $585,000 (building A) and $325,000 (building B) for the buildings and $390,000 for the land. Required: Determine the initial valuation of the buildings and the land.
Answer:
Initial valuation of the building A=$540000
Initial valuation of the building B=$300000
Initial valuation of the land=$360000
Explanation:
First,we will calculate the total fair value of all assets:
Total fair value of assets=Fair value of building A+Fair value of building B+Fair value of land
Total fair value of assets=$585,000+$325,000+$390,000
Total fair value of assets=$1,300,000
Initial valuation of the building A= [tex]\frac{Fair\ value\ of\ building\ A}{Total\ Fair\ value} *lump-sum[/tex]
[tex]Initial\ valuation\ of\ the\ building\ A=\frac{\$585,000}{\$ 1,300,000}*\$1,200,000\\Initial\ valuation\ of\ the\ building\ A=\$540000[/tex]
For building B:
[tex]Initial\ valuation\ of\ the\ building\ B=\frac{\$325,000}{\$ 1,300,000}*\$1,200,000\\Initial\ valuation\ of\ the\ building\ B=\$300,000[/tex]
For Land:
[tex]Initial\ valuation\ of\ the\ building\ land=\frac{\$390,000}{\$ 1,300,000}*\$1,200,000\\Initial\ valuation\ of\ the\ building\ land=\$360000[/tex]
Check of answer;
Sum of all initial Values= Lump-Sum
$540000+$300000+$360000=$1,200,000
$1,200,000=$1,200,000
Final answer:
The initial valuation of Building A, Building B, and the land are $540,000, $300,000, and $360,000 respectively, after allocating the purchase price based on their fair market values.
Explanation:
To determine the initial valuation of the buildings and the land that Pinewood Company purchased, we need to allocate the lump-sum purchase price based on the proportional fair values of the assets acquired. The total fair value of the assets according to the appraisals is $585,000 (Building A) + $325,000 (Building B) + $390,000 (Land) = $1,300,000.
The purchase price of $1,200,000 is then allocated based on the fair value of each asset:
Building A: (Fair Value of A / Total Fair Value) × Purchase Price = ($585,000 / $1,300,000) × $1,200,000 = $540,000Building B: (Fair Value of B / Total Fair Value) × Purchase Price = ($325,000 / $1,300,000) × $1,200,000 = $300,000Land: (Fair Value of Land / Total Fair Value) × Purchase Price = ($390,000 / $1,300,000) × $1,200,000 = $360,000Thus, the initial valuation of Building A is $540,000, Building B is $300,000, and the land is $360,000.
Martinez Manufacturing Inc. showed the following costs for last month:
Direct materials $7,000
Direct labor $3,000
Manufacturing overhead $2,000
Selling expense $8,000
Last month 4,000 units were produced and sold.
What is total product cost for last month?
Answer:
$12,000
Explanation:
The total product cost for artinez Manufacturing Inc. can be determined using the following formula:
Direct materials $7,000
Direct labor $3,000
Manufacturing overhead $2,000
Total product cost for last month $12,000
You open a bank account, making a deposit of $500 now and deposits of $1,000 every other year. What is the total balance at the end of 10 years from now if your deposits earn 4% interest compounded annually?(This means there is an initial deposit of $500 and then $1,000 deposits skipping one year. That is, at the end of the first year, there is no deposit; at the end of the second year, there is a $1,000 deposit; at the end of the third year there is no deposit; and so on.)
Answer:
$6,625.347
Explanation:
The computation of the total balance at the end of 10 years is shown below:
We know that
Future value = Deposits × (1 + interest rate)^number of years
So, the future value would be
= $500 × (1 +0.04)^10 + $1,000 × (1 +0.04)^8 + $1,000 × (1 +0.04)^6 + $1,000 × (1 +0.04)^4 + $1,000 × (1 +0.04)^2 + $1,000
= $740 + $1,368.569 + $1,265.319 + $1,169.859 + $1,081.60 + $1,000
= $6,625.347
Country Western Clothing Outfitters is considering investing in an inventory tracking system. The system will require $10,300 in software costs and $8,200 in employee training costs. Computer hardware also must be upgraded for the system; the hardware upgrades are expected to cost $12,100. The expected benefits from the inventory tracking system should be $29,000. Do the benefits outweigh the costs, or do the costs outweigh the benefits, and by how much?
Answer Options:
A. Benefits outweigh costs by $10,500. B. Costs outweigh benefits by $1,600. C. Benefits outweigh costs by $1,600. D. Costs outweigh benefits by $10,500.
Answer:
B. Costs outweigh benefits by $1,600
Explanation:
Total costs are comprised by software costs ($10,300), employee training costs ($8,200) and hardware upgrades costs ($12,000).
[tex]C = \$10,300+\$8,200+\$12,000\\C=\$30,500[/tex]
The benefits from the new system are $29,000.
Therefore, costs outweigh benefits by the following amount:
[tex]C-B = \$30,500-\$29,000 = \$1,600[/tex]
B. Costs outweigh benefits by $1,600.
The following is the adjusted trial balance of Wilson Trucking Company.
Account Title Debit Credit
Cash $ 5,500
Accounts receivable 16,500
Office supplies 2,000
Trucks 196,000
Accumulated depreciation—Trucks $40,376
Land 75,000
Accounts payable 9,500
Interest payable 3,000
Long-term notes payable 52,000
K. Wilson, Capital 193,270
K. Wilson, Withdrawals 19,000
Trucking fees earned 115,500
Depreciation expense—Trucks 26,043
Salaries expense 54,170
Office supplies expense 9,500
Repairs expense—Trucks 9,933
Totals $ 413,646 $ 413,646
The K. Wilson, Capital account balance is $193,270 at December 31, 2016.
Required:
(1) Prepare the income statement for the year ended December 31, 2017.
(2) Prepare the statement of owner’s equity for the year ended December 31, 2017.
Answer:
PART 1: Wilson Trucking Company reported Net Income of $15,854 for the year ended December 31, 2017.
PART 2: As per the statement of changes in equity, K. Wilson Capital Account Balance as at December 31, 2017 is $190,124
* Please note that figures in brackets represent negative values.
Explanation:
PART 1
Wilson Trucking Company
Income Statement for the year ended December 31, 2017
Revenue
Trucking Fees $115,500
Less Expenses:
Depreciation expense of Trucks $(26,043)
Salaries expense $(54,170)
Office supplies expense $(9,500)
Repairs expense -Trucks $(9,933)
Net Income $15,854
PART 2
Wilson Trucking Company
Statement of changes in Equity for the year ended December 31, 2017
K. Wilson Capital Account Balance as at December 31, 2016 $193,270
Add: Net Income for the year $15,854
Less: K. Wilson withdrawals during the year $(19,000)
K. Wilson Capital Account Balance as at December 31, 2017 $190,124
To prepare the income statement, subtract the total expenses from the revenue to calculate the net income. For the statement of owner’s equity, start with the beginning balance of capital, add the net income, and subtract withdrawals to find the ending balance of Capital.
Explanation:To prepare the income statement first you need to calculate the net income which is the total revenue minus total expenses. In this case, trucking fees earned ($115,500) is the revenue. The total expenses are the sum of all expenses which include salaries expense ($54,170), office supplies expense ($9,500), repairs expense - trucks ($9,933), and depreciation expense - trucks ($26,043). When you subtract the total expenses from the revenue, you get the net income.
For the statement of owner’s equity, you start with the beginning balance of K. Wilson, Capital ($193,270), then add the net income and subtract withdrawals made by K. Wilson ($19,000) within the year to reach the ending balance of K. Wilson, Capital.
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You have just made your first $5,000 contribution to your individual retirement account. Assuming that you earn in the stock market an annual rate of 9.75% and make no additional contributions, what will your account be worth when you retire in 45 years? What if you wait 10 years before contributing? Does this suggest an investment strategy?
Answer:
1) The account will be worth $328,983 after 45 years.
Explanation:
If we make 9.75% annually for 45 years our account will be worth 5000 compounded at 9.75% for 45 years. So account worth after 45 years =
5000*1.0975^45=328,983
Assuming an annual interest rate of 9.75%, a $5,000 retirement contribution would grow to approximately $304,481.79 in 45 years if no additional contributions are made. If you waited 10 years to contribute, the amount would be approximately $105,878.60 after 35 years. This highlights the strategy of investing early.
Explanation:To calculate the value of your retirement account in 45 years, you would use the formula for compound interest, which is A=P(1+r/n)^(nt), where 'A' is the amount of money accumulated after n years, including interest, 'P' is the principal amount (the initial amount of money), 'r' is the annual interest rate (in decimal), 't' is the time the money is invested for in years, and 'n' is the number of times that interest is compounded per year.
Assuming your annual rate is 9.75% (or 0.0975 in decimal form), and you make no additional contributions, your $5,000 would grow to approximately $304,481.79 in 45 years. If you wait 10 years before you make your first contribution, the total amount after 35 years would be approximately $105,878.60.
This exercise suggests that the sooner you start investing, the more time your money has to grow. Through the power of compound interest, even a small initial investment can grow significantly over time. This suggests a strategy of starting to invest as early as possible in order to maximize potential returns.
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Should stockholder wealth maximization be thought of as a long-term or a short-term goal? For example, if one action increases a firm’s stock price from a current level of $20 to $25 in 6 months and then to $30 in 5 years, but another action keeps the stock at $20 for several years but then increases it to $40 in 5 years, which action would be better? Think of some specific corporate actions that have these general tendencies.
Answer:
Stockholder wealth growth should continuously be supposed of long term goal. It is in notice of shareholder or depositor that his prosperity continues to grow with smallest risk. Action which keeps stock at 20$ for numerous year and then increased to 40$ in year 5 is desirable as the wealth of the stockholder increases.
Sometime company capitalize in building dimensions so that it can yield more units of its product thus growing the sale. When the corporation is doing capex, stock price will remain stationary and as soon as its capex ends stock price will rise at fast pace.
The second course of action that keeps the stock at $20 for many years and then rises to $40 in the 5th year is better as the wealth of the stockholder maximizes at a steady rate.
What do you mean by wealth maximization?Wealth Maximization is the concept of increasing the value of a business in order to increase the number of shares held by shareholders.
The growth of shareholders' wealth should continue to be a long-term goal. It is up to the shareholder or investor to determine if his or her fortune will continue to grow at a very small risk.
Sometimes a company makes money by building size so that it can produce more units of its product and thus increase sales. When a company makes a capital expenditure the stock price will remain stagnant and as soon as the capital expenditure ends the stock price will rise sharply.
Thus, the second course of action is better as it slowly and steadily increases the value of stock price from $20 to $40 in 5 years.
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When most economists wake up in the morning, their first decision is whether or not to his the snooze button on the alarm clock.
A) I had a really late night grading exams, and I deserve 10 more minutes of sleep.
B) The total amount of work I have to do today is rather small, so the total benefit to going to work for a full 8 hours is also small.
C) The total amount of work I have to do today is rather small, so the marginal cost of going to work 10 minutes late is small.
D) The total amount of work I have today is rather small, so the marginal benefit of sleeping 10 more minutes is rather large,
E) The marginal benefit of sleeping 10 more minutes is greater than the marginal benefit of 10 more minutes of work.
Answer:
The correct answer is letter "E": The marginal benefit of sleeping 10 more minutes is greater than the marginal benefit of 10 more minutes of work.
Explanation:
Marginal Benefit is an economic term that describes the maximum amount a consumer is willing to pay for an additional unit of a good or service. Typically, the marginal benefit decreases as long as the person consumes more of that good or service. The price-benefit relationship is inversely proportional.
In the example, the marginal benefit of sleeping 10 minutes more must be greater than the marginal benefit of working 10 more minutes if economists choose to sleep a little bit more.
Deb’s Auto Alarms has sold car alarms in the United States for 15 years. Owner Deborah Lefkowitz has read about the opportunities that globalization presents for businesses, and she is thinking about seeking entry to several international markets. She asks you for advice: "I’ve heard about free trade agreements among different groups of countries: World Trade Organization (WTO), the North American Free Trade Agreement (NAFTA), the European Union (EU), the Association of Southeast Asian Nations (ASEAN), Mercosur in Latin America, the African Free Trade Zone (AFTZ) . . . In general, it seems as though these agreements have had positive effects on economic growth, but they have also been controversial in some ways. What can you tell me about them?"
Based on your knowledge of international trade organizations, answer the following question.
Which of the following statements correctly describes the North American Free Trade Agreement (NAFTA)? Check all that apply.
a) A drawback of NAFTA is that it has erected barriers to the entry of small businesses into the international market.
b) Business people in the United States, Canada, and Mexico have mixed opinions about whether NAFTA has been a success.
c) NAFTA reduced the amount of trade among the countries involved.
d) NAFTA dramatically reduced tariffs on goods traded among the United States, Canada, and Mexico.
1) Business people in the United States, Canada, and Mexico have mixed opinions about whether NAFTA has been a success -
The countries that haven't been benefited by the implementation of NAFTA tend to believe that NAFTA cannot be considered as a substantial success. On the other hand, the ones who have had the chance to fetch profit out of the trading done wit the other two countries call it a success.
2) NAFTA dramatically reduced tariffs on goods traded among the United States, Canada, and Mexico:
The implementation of NAFTA was itself for the sole purpose of reducing the tariffs that were earlier applicable on the cross-boundary trade that took place between the three countries.Xsis Inc. is an information technology (IT) and services company. It used to outsource its technical support calls to a company located in a Southeast Asian country. Xsis Inc. started receiving a lot of complaints from customers on language difficulties and delays in reaching senior technicians when speaking to support personnel. The reduction in the volume of calls for its services led Xsis Inc. to terminate its outsourcing contract. Identify the appropriate issue related to outsourcing that led Xsis Inc. to terminate its contract with the company in Southeast Asia.
a. Employee moraleb. Technical and legal issuesc. Negative impact on customer relationships and satisfactiond. Data security and integrity issues
Answer:C=Negative impact on customer relationships and satisfaction
Explanation:Xsis Inc being an IT and services company outsourced it's technical support calls to a company in Asia,this is called offshoring i.e outsourcing to a foreign company.the main issue is that this area is one if the core competence of an IT and service company and should not have been outsourced without proper monitoring of the service level agreements.outsourcing the call support means Xsis Inc will have to depend on the management,technical skills if the vendor to manage a very crucial aspect of their operation and from the above illustration,the vendors technical strength was poor leading to inability if customer's to reach senior technicians when the need arises ,this led to customer dissatisfaction ,which will off course lead to loss of patronage .
Offshoring as in this case had language barrier as a major obstacle ,the south east Asia vendors did not put enough infrastructure in place to cater for the customer's varying language need ,this led to customer's dissatisfactionand sorely affects the customer relationship with Xsis Inc,because the customer sees the call support vendor as staff of Xsis and may not be aware of the outsourcing deal and even if aware really don't care ,the connection is Xsis,the blame goes to Xsis and it is only rational for Xsis to cancel the contract and if possible insource this important function.
The outsourcing issue that caused Xsis Inc. to terminate its partnership contract is the negative influence on customer satisfaction and relationships. This was due to communication issues and delays in advanced technical support.
Explanation:The issue that led Xsis Inc. to terminate its outsourcing contract with the company in Southeast Asia is 'Negative impact on customer relationships and satisfaction'. Customer complaints about language difficulties and delays indicate dissatisfaction, which could significantly influence a company's reputation and relationships with its clientele.
Outsourcing, although potentially cost-effective, may not guarantee the same quality control as in-house services, which may lead to issues such as communication barriers and prolonged handling time for complex issues. Losing clients due to such issues contradicts the fundamental purpose of having customer support, hence hampering a company's growth and success.
Therefore, it's crucial for companies like Xsis Inc. to consider customer satisfaction and relationships when making outsourcing decisions.
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In terms of dollars, the marginal benefit of working five days a week instead of four days a week is A) the wages received for 4 days of work. B) the wages received for the fifth day of work. C) the wages received for 5 days of work. D) None of the above answers is correct.
Answer:
B) the wages received for the fifth day of work.
Explanation:
Marginal benefit is the increment in benefit generated by an increase by one unit of output. In this situation, the marginal benefit is given by difference in wage of working five days a week from the wage of working four days a week. Therefore, the marginal benefit is the wage received for the fifth day of work.
The answer is alternative B)
Exercise 16 describes a regression model that uses a car’s engine displacement to estimate its fuel econ- omy. In this context, what does it mean to say that a certain car has a positive residual?
Answer:
From the information, observe that there is a relationship between the fuel economy and engine size.
The regression model is,
Mpg = 36.25 – 3.867 Engine size
The residual is the difference between the actual value and predicted value.
Residual = y - ŷ
Here, y is the actual value and ŷ is the predicted value.
The car gets positive residual, if the actual value is greater than the predicted value.
Therefore, in this context, a certain car has a positive residual means that the actual mileage of that particular car is greater than the predicted mileage.
A positive residual in a regression model measuring fuel economy based on engine displacement means the car's actual fuel economy is better than predicted. This can be confirmed by a residual plot showing data points above the zero line. Residuals need to be random, and patterns may indicate model issues.
Explanation:If a regression model is predicting the fuel economy of a car based on its engine displacement, a positive residual indicates that the actual fuel economy of the car is better than what the model predicted. In more technical terms, the residual is the difference between the observed value, which is the actual fuel economy, and the predicted value, given by the regression equation (ŷ = bo + b₁x).
The presence of a positive residual suggests that the car is more fuel-efficient than its engine displacement would suggest according to the model. This can be visualized in a residual plot, where a positive residual is represented by a data point above the horizontal line at zero, which denotes no deviation from the predicted value.
When analyzing a residual plot, it is important to ensure that there is no pattern indicating systematic errors. Residuals should appear randomly distributed around the zero line, with no clear trends or patterns. If a trend is observed, this may indicate an issue with the model's assumptions such as non-linearity or heteroscedasticity.
Sharon Silver is an attorney in Los Angeles. Silver uses the directâ write-off method to account for uncollectible receivables. At April 30 comma 2018â, Silverâ's accounts receivable totaled $ 22 comma 000. During Mayâ, she earned revenue of $ 25 comma 000 on account and collected $ 16 comma 000 on account. She also wrote off uncollectible receivables of $ 3 comma 250 on May 31â, 2018. Read the requirements.
1.) Use the direct write-off method to journalize Silver's write-off of the uncollectible receivables.
2.) What is Silver's balance of Accounts Receivable at May 31, 2018?
Answer:
1. Bad debt expense A/c Dr $3,250
To Account receivable A/c $3,250
(Being the uncollectible receivables are recorded)
2. $27,750
Explanation:
1. The adjusting entry is shown below:
Bad debt expense A/c Dr $3,250
To Account receivable A/c $3,250
(Being the uncollectible receivables are recorded)
2. The computation of ending balance of account receivable is shown below:
Ending account receivable balance = Beginning account receivable + credit sales - collections - written off amount
= $22,000 + $25,000 - $16,000 - $3,250
= $27,750
Social entrepreneurship is a growing phenomenon. Do you believe that for-profit businesses can have a social mission?
Answer and explanation:
For-profit businesses are mainly created to fulfill entrepreneurs' interests but it does not imply that all organizations do not take a look at the social impact they can cause. Health care groups, for instance, are very profitable entities around the world but they carry with the major responsibility of providing good medical assistance to the individual where the medical centers operate.
The balance in accounts receivable at the beginning of 2016 was $600. During 2016, $3,200 of credit sales were recorded. If the ending balance in accounts receivable was $500 and $200 in accounts receivable were written off during the year, the amount of cash collected from customers was
$2,700.
$3,120.
$3,320.
$3,400.
Answer:
$3,100
Explanation:
Step 1: Draw up the Accounts Receivable Account
Opening Balance $600 Allowance for Doubtful debt $200
Sales $3,200 Cash Collected $3,100
Closing Balance $500
$3,800 $3,800
To calculate the cash collected from customers
first, add the debit side of the accounts receivable which is a sum of the opening balance and sales= 3,800
Secondly, add the figures in the credit side including allowance for doubtful debt and closing balance= $700
Thirdly, Subtract the lesser side from the greater, $3,800 - $700 = $3,100
$3,100 was cash collected from the customers in 2016
If textbooks and study guides are complements, then an increase in the price of textbooks will result in
Answer:
Fewer study guides being sold.
Explanation:
The textbook and the study guides are the material or the books which help the student in order to gain knowledge by going through or study the textbook as well as the guide.
The study guide and the textbooks are complements means that the study guide is the supplement the textbooks as the study guide has the solutions for the questions of the textbooks.
But when there is increase in the price of the textbooks, the demand for the study guides will be decrease as the textbooks will not be purchased by the students which result in fewer study guides being sold in the market.
If textbooks and study guides are complements, then an increase in the price of textbooks will result in B. A decrease in the demand for study guides.
When textbooks and study guides are complements, it means that they are typically used together or are consumed together in some way.
For example, students often purchase study guides to supplement their learning from textbooks.
When the price of textbooks increases, it becomes more expensive for students to purchase textbooks.
As a result, students may be less inclined to spend additional money on study guides, especially if they are already facing higher costs for textbooks. This leads to a decrease in the demand for study guides because students are less willing to purchase them at the higher price.
In economic terms, the increase in the price of textbooks leads to a decrease in the demand for study guides, as the two goods are complements and their consumption patterns are interrelated.
Full question
If textbooks and study guides are complements, then an increase in the price of textbooks will result in:
A. An increase in the demand for study guides.
B. A decrease in the demand for study guides.
C. No change in the demand for study guides.
D. An increase in the price of study guides.
Oriole Corporation purchased a new machine for its assembly process on August 1, 2017. The cost of this machine was $134,406. The company estimated that the machine would have a salvage value of $14,706 at the end of its service life. Its life is estimated at 5 years, and its working hours are estimated at 21,300 hours. Year-end is December 31. Compute the depreciation expense under the following methods. Each of the following should be considered unrelated. (Round depreciation rate per hour to 2 decimal places, e.g. 5.35 for computational purposes. Round your answers to 0 decimal places, e.g. 45,892.)
(a) Straight-line depreciation for 2017
(b) Activity method for 2017, assuming that machine usage was 770 hours
(c) Sum-of-the-years'-digits for 2018
(d) Double-declining-balance for 2018
Answer:
The depreciation expenses for:
(a) Straight-line depreciation for 2017: $23,940 which is calculated as : ( Cost - Salvage value)/ Useful life = (134,406 - 14,706)/5 = $23,940.
(b) Activity method for 2017: $4,327 which is calculated as: ( Cost - Salvage value) / Total estimated working hours * Actual working hours in 2017 = ( 134,406 - 14,706) / 21,300 * 770 = $4,327.
(c) Sum-of-the-years'-digits for 2018: $31,920 which is calculated as: (Remaining useful life / Sum of the year's digits) * ( Cost - Salvage value) = [4/(5+4+3+2+1)] * ( 134,406 - 14,706) = $31,920.
(d) Double-declining-balance for 2018: $32,233; which is calculated as below:
Book value of machine as at the beginning of 2018 * 1/5 * 2
in which: Book value of machine as at the beginning of 2018 = Cost of machine - Depreciation expenses in 2017 = 134,306 - 134,306 * 2 * 1/5 = $80,583.60
So, Depreciation expenses for 2018 is: 80,583.60 * 1/5 * 2 = $32,233.
Explanation: