The leadership style that the CEO of the health care system demonstrates in the EHR selection process is the autocratic style.
What is the autocratic style?Autocratic leadership style is defined as the type of leadership style in which the decision can be taken without the input of the particular team.
In an autocratic leadership style, the manager assembles all the judgments without any conference or information from the leftovers of the team.
Some fundamental characteristics of the autocratic leadership style are:
It allows little input from the group of members.It requires the leaders to make all the necessary decisions.It does not require any group feelings or work.It tends to make the highly structured environments.Therefore, the CEO of the healthcare system alone demonstrates the EHR selection process by using the autocratic style of leadership.
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The CEO of the healthcare system demonstrated a participative leadership style in the EHR selection process by involving employees in decision-making processes and valuing their input.
Explanation:The CEO of the healthcare system demonstrated a participative leadership style in the EHR selection process.
In a participative leadership style, leaders involve employees in decision-making processes and value their input. This style fosters collaboration, creativity, and innovation among team members.
During the EHR selection process, the CEO likely sought the opinions and feedback of various stakeholders, such as healthcare professionals, IT staff, and administrators, before making a final decision. By involving multiple functions and considering different perspectives, the CEO demonstrated a participative leadership style.
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.
If Aggregate Demand (AD) is pushed into the steep portion of the SRAS Curve, the economy will experience:a. Inflationb. Unemploymentc. Inflation AND unemploymentd. Neither inflation not unemployment
Answer:
a. Inflation
Explanation:
A shift of AD to the right will move output closer to potential GDP and thus reduce unemployment, but this shift will also lead to a higher price level and upward pressure on inflation
Spartan castings must implement a manufacturing process that reduces the amount of particulates emitted into the atmosphere. Two processes have been identified that provide the same level of particulate reduction. The first process is expected to incur $350,000 of fixed cost and add $50 of variable cost to each casting Spartan produces. The second process has fixed costs of $150,000 and adds $90 of variable cost per castings.
What is the break-even quantity beyond which the first process is more attractive?
What is the difference in total cost if the quantity produced are 10,000?
Answer:
Instructions are listed below.
Explanation:
Giving the following information:
The first process;
Fixed costs= $350,000
Variable cost= $50
The second process:
Fixed costs= $150,000
Variable costs= $90
To calculate the break-even quantity we need to use the following procedure:
350,000 + 50*X= 150,000 + 90*X
X= number of units
200,000=40X
5,000=X
From 1 to 4,999 units, the second process is more convenient regarding costs. From 5001 to infinity the first process is more cost-efficient.
10,000 units:
First process= 350,000 + 50*10,000= $850,000
Second process= 150,000 + 90*10,000= $1,050,000
1. The break-even quantity beyond which the first process is more attractive is 5,000 castings. 2. The difference in total cost if the quantity produced are 10,000 is $200,000.
To find the break-even quantity and the difference in total cost for producing 10,000 castings using each process, we'll first calculate the total cost for each process, and then compare them.
1. Break-even Quantity:
Let Q be the number of castings produced.
For the first process:
- Fixed cost = $350,000
- Variable cost per casting = $50
Total cost ( [tex]TC_1[/tex] ) for the first process:
[tex]TC_1 = 350,000 + 50Q[/tex]
For the second process:
- Fixed cost = $150,000
- Variable cost per casting = $90
Total cost ( [tex]TC_2[/tex] ) for the second process:
[tex]TC_2 = 150,000 + 90Q[/tex]
To find the break-even quantity beyond which the first process is more attractive, we set the total costs equal and solve for Q :
350,000 + 50Q = 150,000 + 90Q
40Q = 200,000
Q = 5,000
Therefore, the break-even quantity beyond which the first process is more attractive is 5,000 castings.
2. Difference in Total Cost for 10,000 Castings:
For the first process:
[tex]TC_1 = 350,000 + 50 \times 10,000 = 350,000 + 500,000 = 850,000[/tex]
For the second process:
[tex]TC_2 = 150,000 + 90 \times 10,000 = 150,000 + 900,000 = 1,050,000[/tex]
The difference in total cost for producing 10,000 castings using each process is:
[tex]TC_2 - TC_1 = 1,050,000 - 850,000 = 200,000[/tex]
Therefore, the difference in total cost is $200,000.
The complete question is:
Spartan castings must implement a manufacturing process that reduces the amount of particulates emitted into the atmosphere. Two processes have been identified that provide the same level of particulate reduction. The first process is expected to incur $350,000 of fixed cost and add $50 of variable cost to each casting Spartan produces. The second process has fixed costs of $150,000 and adds $90 of variable cost per castings.
1. What is the break-even quantity beyond which the first process is more attractive?
2. What is the difference in total cost if the quantity produced are 10,000?
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.
Creating a __________ may be one of the most difficult tasks that will fall to the disaster recovery teamleader.A.need for the planB.diverse teamC.qualified team1
D.team spirit
Answer: it's C
Explanation:
Answer:
The correct answer is letter "D": team spirit.
Explanation:
A team spirit is a sense of belonging of the individuals of a group towards the organization they formed. In front of natural disasters, creating a team spirit could be challenging for team leaders because most people are interested in their self-care more than in others. Leaders must promote solidarity among the team members so they can also prioritize all those who are in more need than them. Collectively, their joint efforts will help the community to recover faster from the act of God.
When total debits equal total credits on a trial balance, we can be assured that no errors of any sort occurred during the preceding steps in the accounting cycle.A. TrueB. False
Answer:
B. False
Explanation:
When total debits equals to total credits on a trial balance, we can't assured that there are no errors of any sort occurred during the preceding steps in the accounting cycle.
Following Accounting Errors may result in Balanced Trial Balance
Errors of omissions
Errors of commissions
Errors of misposting
Compensating errors
Errors of Principle
Intel Corp has a share price of $31.63 and a yearly dividend of $1.50 per year. An option with a strike price of $27 has a call price of $6.10, and a put price of $2.65. It has a 1 yr expiry period. Assuming no interest, what is the predicted share price according to the put-call parity relationship
Answer:
predicted share price acc to put call parity is $31.95
Explanation:
given data
share price = $31.63
yearly dividend = $1.50 per year
strike price = $27
call price = $6.10
put price = $2.65
expiry period = 1 year
solution
Put Call Parity is price relationship between put option, call option and underlying stock
so we apply here basic put call parity formula that is
Po + So = Co +( D + X × [tex]e^{-rt}[/tex] ...................1
here Po is put option and Co is call option and X is strike price and So stock price and t is time and r is risk free rate and D is dividend and it is 0 here
so Stock price will be
So + Po = Co + D + X
So + $2.65 = $6.10 + $1.5 + $27
So = $31.95
so here predicted share price acc to put call parity is $31.95
You share a cab ride with your company's CEO and he talks enthusiastically about the __________, that can be achieved when the subsystems of the organization are managed to contribute more than the sum of their parts.
A. Contingency View
B. Synergy
C. System Thinking
D. Total quality management
Answer:
The correct answer is letter "B": Synergy.
Explanation:
Synergy is the belief that the whole is more than the sum of all its parts. In Business, synergy implies that the whole organization is more important than the individual effort of the employees. This approach aims to let workers know that their joint work is more valuable than their isolated performance.
Synergy is the correct answer. It refers to the situation where the combined effect of the components in a system is greater than the sum of their individual effects. This can be experienced within an organization when the subsystems are well-coordinated for maximum efficiency.
The correct answer to this question is B. Synergy. The term 'synergy' refers to a situation where the combined effect of the components or contributors in a system is greater than the sum of their individual effects. In the context of an organization, when the subsystems are managed effectively to contribute more than their individual capacities, it results in synergy, which gives the organization a competitive advantage. For example, in a team where each individual is good at something different, when they work together under the umbrella of a single project, their combined skills can create a superior result compared to if they were working individually.
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Calgary Paper Company produces paper for photocopiers. The company has developed standard overhead rates based on a monthly capacity of 80,000 direct-labor hours as follows:
Standard costs per unit (one box of paper):
Variable overhead (3 direct-labor hours @ $4) $12
Fixed overhead (3 direct-labor hours @ $12) $36
Total $48
During April, 26,000 units were scheduled for production: however, only 20,000 units were actually produced. The following data relate to April.
Actual direct-labor cost incurred was $1,425,000 for 75,000 actual hours of work.
Actual overhead incurred totaled $1,372,500, of which $472,500 was variable and $900,000 was fixed.
Required:
Prepare two exhibits which show the following variances. State whether each variance is favorable or unfavorable, where appropriate.
1. Variable-overhead spending variance.
2. Variable-overhead efficiency variance.
3. Fixed-overhead budget variance.
4. Fixed-overhead volume variance.
5. Variable-Overhead Spending and Efficiency Variances.
Answer:
1. Variable-overhead spending variance. = $ 172,500 (favorable)
2. Variable-overhead efficiency variance. = $ 20,000 Favorable
3. Fixed-overhead budget variance. ( is not applicable)
4. Fixed-overhead volume variance. $ 60,000
5. Variable-Overhead Spending and Efficiency Variances.
$ 172,500 (fav) and $ 20,000 ( fav)
Explanation:
1. Variable-overhead spending variance=
Actual Variable Factory Overhead = $ 472,500
Variable Expense ( 75,000 actual hours at $ 4) = $ 300,000
Variable OH Spending Variance= $ 172,500 (favorable)
2. Variable-overhead efficiency variance.
Actual hours ( 75,000 ) * Standard OH rate= $ 300,000
Overhead charged to Production ( 80,000 * 4) = $ 320,000
Efficiency variance $ 20,000 Favorable
3. Fixed-overhead budget variance.
Fixed Expense Actual = $ 900,000
Fixed Expense Budgeted = ( 75000 Hours @ 12)= $ 900,000
Fixed OH Budget Variance = ( )
4. Fixed-overhead volume variance.
Normal Capacity Hours 80,000
Actual Hours allowed for production 75000
Capacity hours not utilized 5000
Volume variance ( 5000 hours *12) = $60,000
5. Variable-Overhead Spending and Efficiency Variances.
Actual Variable Expense = $ 472,500
Variable Expense for standard hours allowed ( 75000 *4) = 300,000
Variable Overhead Spending Variance = $ 172,500 favorable
Efficiency Variance
Actual Hours * Standard Overhead Rate = 75,000 * 4= $ 300,000
Overhead Charged To Production = 80,000 * 4= $ 320,000
Efficiency Variance = $20,000 Favorable
Which of the two project below would you pursue, if you based the decision on ROI (Discount rate: 10%)? Project 1 had a cash flow as follows: Year 0: -5K, Year 1: 3K, Year 2: 2K, Year 3: 1K Project 2 had a cash flow as follows: Year 0: -7K, Year 1: 5K, Year 2: 3K, Year 3: 2K
Answer:
Project 2 should be accepted as it's net present value (NPV) is higher
Explanation:
Project 1
Year Cash Flows Discounting factor @10% Present Value(in $)
0 (5000) 1 (5000)
1 3000 0.909 2727
2 2000 0.826 1652
3 1000 0.751 751
NPV $130
Year Cash Flows Discounting Factor @10% Present value (in $)
0 (7000) 1 (7000)
1 5000 0.909 4545
2 3000 0.826 2478
3 2000 0.751 1502
NPV $1525
Note: Cash flows in brackets denote cash outflows or negative cash flows.
The question is about comparing the ROI of two projects. After calculating the discounted cash flow of each project, we find that Project 2 has a higher present value, thus it is the better project to pursue based on ROI.
Explanation:The subject is about return on investment (ROI). To calculate ROI, we must compute the present value of expected cash flows and compare them for both projects. The present value calculation discounts future cash flows against a chosen rate, in this case, a discount rate of 10%.
For Project 1: the present value = -5K + 3K/(1+0.10) + 2K/(1+0.10)^2 + 1K/(1+0.10)^3 = $0.12K.
For Project 2: the present value = -7K + 5K/(1+0.10) + 3K/(1+0.10)^2 + 2K/(1+0.10)^3 = $0.66K.
Since Project 2 has a higher present value, it is the one you'd want to pursue based on ROI.
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Learning is pervasive in our lives, but there are two different theories on how people learn the ________ theories and the ________ theories.a. behavioral; affective b. cognitive; rational c. behavioral; cognitive d. emotional; affective e. experiential; intentional
Final answer:
Learning theories are typically divided into behavioral and cognitive approaches, with behavioral focusing on responses to environmental stimuli and conditioning, while cognitive emphasizes mental processes and learning through imitation or instruction.
Explanation:
Learning is pervasive in our lives and encompasses different understanding mechanisms, as highlighted by two prevailing theories — the behavioral theories and the cognitive theories. Behavioral learning theories center on how our environment and interactions with it shape our behavior through conditioning mechanisms such as classical and operant conditioning. On the other hand, cognitive learning theories focus on the internal thought processes and mental activities that influence our ability to process and integrate new information. Cognitive learning involves understanding, synthesizing, and applying knowledge to solve problems and is seen in behaviors that result from learning by imitation or instruction.
Classical examples demonstrating cognitive theory include Albert Bandura's social learning theory which incorporates the idea of observational learning and reciprocal determinism, as well as concepts such as self-efficacy which affects how individuals approach goals and challenges. This stands in contrast to strictly behavioral perspectives that consider learned behaviors as responses to stimuli without the influence of mental states. Both cognitive learning and behavioral learning are essential to everyday practical living and are typically referenced in the context of both formal education and informal education.
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:
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
Preparing a trial balanceSmithson Floor Coverings reported the following summarized data at December 31, 2018. Accounts appear in no particularorder, and all have normal balances.Service Revenue 8 26.000 Salaries Payable $ 25,000Equipment 36,000 Salaries Expense 1,600Rent Expense 17,000 Cash » 7.000Common Stock 24.000 Accounts Receivable 3.600Accounts Payable 2.200 Interest Payable 6,000Dividends 16,100 Utillties Expense 1.900Prepare the trial balance of Smithson Floor Coverings at December 31, 2018.
Answer:
Smithson Floor Coverings
Trial Balance
As at 31st December 31, 2018
Account Dr ($) Cr($)
Revenue 26,000
Salaries Payable 25,000
Equipment 36,000
Salaries Expense 1,600
Rent Expense 17,000
Cash 7,000
Common Stock 24,000
Accounts Receivable 3,600
Accounts Payable 2,200
Interest Payable 6,000
Dividend 16,100
Utilities Expense 1,900
83,200 83,200
Explanation:
In accounting, liability, Income and equity items have credit balances while assets and expenses have debit balances.
With that background, Start by picking balance relating to income and post them to the credit side of the trial balance, like revenue.
After that, pick balance relating to liability post them to the credit side of the trial balance, like trade payable.
Then pick balance relating to equity item, post them to the credit side of the trial balance, like common stock.
After this, pick items relating to asset and post them to the debit side of the trial balance, like trade receivables. Then, pick items relating to expenses and then post them to the debit side of the trial balance.
At the end, all income, liability and equity item balances are posted to the credit side of the trial balance while assets and expenses item balances are posted to the debit side. And two sides balance.
Remember the purpose of a trial balance is to check the arithmetical accuracy of ledger balances and that was exactly what was done above.
Final answer:
A trial balance for Smithson Floor Coverings on December 31, 2018, lists out all asset accounts with debit balances and liability or equity accounts with credit balances, ensuring that the sum of debits equals the sum of credits.
Explanation:
To prepare the trial balance of Smithson Floor Coverings on December 31, 2018, you must list all the accounts and their balances in the appropriate debit or credit column. Since all accounts have normal balances, Service Revenue, Common Stock, Accounts Payable, Salaries Payable, and Interest Payable will have credit balances, while the others will have debit balances. Here is the trial balance:
Equipment - $36,000 (Debit)
Cash - $7,000 (Debit)
Accounts Receivable - $3,600 (Debit)
Salaries Expense - $1,600 (Debit)
Rent Expense - $17,000 (Debit)
Utilities Expense - $1,900 (Debit)
Dividends - $16,100 (Debit)
Service Revenue - $26,000 (Credit)
Common Stock - $24,000 (Credit)
Accounts Payable - $2,200 (Credit)
Salaries Payable - $25,000 (Credit)
Interest Payable - $6,000 (Credit)
The total of the debit and credit columns should be equal to ensure the accuracy of the entries, representing the balance sheet's equation where Assets = Liabilities + Equity.
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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Which of the following explains why the aggregate demand curve is downward sloping?a. The interest rate effectb. The real balance effectc. The open economy effectd. All of these
Answer:
The interest rate effect explains why the aggregate demand curve is downward sloping.
Explanation:
The interest rate effect proposed by Keynes suggests the reasons for why is the aggregate demand curve downward sloping. It states that, when the interest rates are low, people choose to invest owing to the decreased costs of investment. This investment stimulates a drop in the levels of price. The dropped prices thus increase the aggregate demand for the commodities of which the price has dropped.Goliath Corp. has beginning accounts receivable of $2,000. During the year, Goliath sold goods to customers on account for $10,000. During the year, Goliath also sold goods to customers for cash in the amount of $2,000. At the end of the year, the balance in Goliath's accounts receivable is $3,000. What is accrual basis sales for the year
Answer:
$12,000
Explanation:
According to the accrual accounting method, the reporting of the transactions should be performed on an accrual basis which means whether or not the payment is paid but it is reported in the account books.
The revenue should be recorded when it is earned or realized and the expenses are recorded when it is incurred
So, in the given scenario, the amount based on accrual basis sales would be
= Goliath sold goods to customers on account + Goliath also sold goods to customers for cash
= $10,000 + $2,000
= $12,000
Goliath Corp's accrual basis sales for the year are $11,000. This is calculated by adding the starting accounts receivable, the sales on account, the cash sales, and then subtracting the end accounts receivable.
The accrual basis includes transactions when they occur, regardless of when cash changes hands. In Goliath Corp's case, you need to consider both the cash sales and the sales on account, even if some invoices haven't been paid by the end of the year.
For the accrual basis sales of the year, you should add: the beginning accounts receivable ($2,000), plus the sales to customers on account ($10,000), plus the cash sales ($2,000), and then subtract the ending accounts receivable ($3,000). After calculation, Goliath Corp's accrual basis sales for the year amount to: $11,000.
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At a price of $200, a cell phone company manufactures 100000 phones. At a price of $300, the company produces 300000 phones. What is the price elasticity of supply? (Round your answer to two decimal places.)
Answer:
2.5
Explanation:
P1=$200
P2=$300
S1=100000
S2=300000
The percentage change in price is:
[tex]\Delta P =\frac{300-200}{\frac{200+300}{2}}=0.4=40\%[/tex]
The percentage change in supply is:
[tex]\Delta S =\frac{300000-100000}{\frac{100000+300000}{2}}=1=100\%[/tex]
The price elasticity of supply is given by:
[tex]E=\frac{\Delta S}{\Delta P}=\frac{100\%}{40\%}=2.5[/tex]
The price elasticity of supply is 2.5.
The price elasticity of supply for the cell phone company is 4.00, indicating a high degree of responsiveness to changes in price. For every 1% increase in price, the company produces 4% more phones.
Explanation:The price elasticity of supply is a measure of how much the quantity supplied of good changes when its price changes. The formula for price elasticity of supply (PES) is (% change in quantity supplied) / (% change in price). In this case, the initial quantity supplied is 100,000 phones at a price of $200. The new quantity supplied is 300,000 phones at a price of $300. Therefore, the % change in quantity supplied is [(300,000-100,000)/100,000]*100 = 200%. The % change in price is [(300-200)/200]*100 = 50%. So, the price elasticity of supply is 200%/50% = 4.00.
So, for the cell phone company mentioned in the question, its price elasticity of supply is 4.00. This means that for every 1% increase in price, the company produces 4% more phones. This shows a high degree of price elasticity, indicating that the company is very responsive to changes in price.
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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.Listed here are product costs for the production of soccer balls. Identify each cost (a) as either fixed or variable and (b) as either direct or indirect.
1. Lace to hold leather together
2. Wages of assembly workers
3. Coolants for machinery
4. Annual flat fee paid for factory security
5. Leather covers for soccer balls
6. Machinery depreciation (straight-line)
7. Taxes on factory
Answer:
a) Fixed or variable and (b) as either direct or indirect.
Explanation:
1. Lace to hold leather together: indirect cost/ variable
2. Wages of assembly workers : direct cost/ variable
3. Coolants for machinery : indirect cost/ fixed
4. Annual flat fee paid for factory security : indirect cost/ fixed
5. Leather covers for soccer balls: direct cost/ variable
6. Machinery depreciation (straight-line): indirect cost/ fixed
7. Taxes on factory: indirect cost/ fixed
The product costs for the production of soccer balls can be categorized as fixed or variable, as well as direct or indirect costs. The lace used to hold the leather together, wages of assembly workers, and leather covers for soccer balls are examples of variable and direct costs. Coolants for machinery, annual flat fee paid for factory security, machinery depreciation, and taxes on the factory are examples of fixed and indirect costs.
Explanation:1. Lace to hold leather together:
(a) Variable cost - It varies depending on the number of soccer balls produced.
(b) Direct cost - It can be directly traced to the production of soccer balls as it is specifically used to hold the leather together.
2. Wages of assembly workers:
(a) Variable cost - It changes based on the number of hours worked or the number of workers hired.
(b) Direct cost - It can be directly attributed to the assembly of soccer balls as it is paid to the workers involved in the production process.
3. Coolants for machinery:
(a) Variable cost - It is dependent on the usage and maintenance of the machinery.
(b) Indirect cost - It is not directly tied to the production of soccer balls but is necessary to keep the machinery running smoothly.
4. Annual flat fee paid for factory security:
(a) Fixed cost - It remains constant regardless of the level of production.
(b) Indirect cost - It is not directly associated with the production process but is necessary for maintaining a secure environment in the factory.
5. Leather covers for soccer balls:
(a) Variable cost - It varies with the number of soccer balls produced.
(b) Direct cost - It can be directly allocated to the production of soccer balls as it is used to make the covers.
6. Machinery depreciation (straight-line):
(a) Fixed cost - It remains constant over time.
(b) Indirect cost - It is not directly linked to the production of soccer balls but represents the ongoing wear and tear of the machinery.
7. Taxes on factory:
(a) Fixed cost - It does not change regardless of the level of production.
(b) Indirect cost - It is not directly tied to the production process but represents the taxes paid for operating the factory.
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.
You are an excellent investor and have averaged a 12% rate of return over the last 20 years. Over the same time period, inflation has averaged 3.2%. What is the real rate of return you have earned on your investments?
Answer:
real rate of return = 8.8%
Explanation:
given data
nominal rate of return = 12 %
time = 20 year
inflation rate = 3.2%
solution
we will apply here Nominal rate of return to get real rate of return that is
nominal rate of return = Real rate of return + Inflation rate ......................1
put here value and we will get real rate of return
real rate of return = nominal rate of return - inflation rate
real rate of return = 12% - 3.2%
real rate of return = 8.8%
The real rate of return is found by subtracting the inflation rate from the nominal rate of return. With a 12% nominal rate and a 3.2% inflation rate, the real rate of return is 8.8% per year.
To calculate the real rate of return on investments, one must adjust the nominal rate of return by taking into account the rate of inflation. The formula to find the real rate of return is to subtract the inflation rate from the nominal rate of return. In your case, if the investment's nominal rate of return is 12%, and the average inflation rate is 3.2%, you can calculate the real rate of return like this:
Real Rate of Return = Nominal Rate - Inflation Rate
Real Rate of Return = 12% - 3.2%
Real Rate of Return = 8.8%
Therefore, the real rate of return you have earned on your investments, after adjusting for inflation, is 8.8% per year.
Which statement about Zipcar illustrates how marketing can help to enrich society
Answer:
Zipcar mission statement
Our mission: to make urban living easy and responsible We envisage a future in which car club members outnumber car owners in major cities around the globe. Most of those city residents will live within a five-to-ten-minute walk from a Zipcar self-service.
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
It has been said that within the next few years, smartphones will become the single most important digital device we own. Discuss the implications of this statement.
Answer:
This statement is very likely to be true.
Explanation:
Smart phones are replacing personal computers and in future they will take place of the laptops because of the advancements in technology. Smart phones can do almost every thing a personal computer or a laptop can do e.g. smart phones help us to connect with the internet and we can search , socialize with people and even do business on a smart phone.
Smart phones have the hardware capabilities like 1 terbyte ROM 12 gigabytes of RAM which were once only available in the bigger devices.
Smartphones are becoming increasingly integral to everyday life, serving as central hubs for communication, entertainment, and personal management. This growing dependence highlights the dual-edged nature of technology. The future implications of smartphone ubiquity in society represent a complex area for ongoing observation and research.
It has been said that within the next few years, smartphones will become the single most important digital device we own, underscoring their rapidly evolving role in our daily lives. People depend on smartphones increasingly more than they did a year ago or five years ago. The implications of this statement are profound, touching on various aspects of society, personal life, and global connectivity.
The relationship between people and their smartphones has dramatically shifted, with these devices now serving as hubs for social media, work, education, entertainment, and personal communication. This has resulted in the omnipresence of smartphones, making them an indispensable part of our lives. The increased dependency on smartphones brings both benefits and challenges. On the one hand, they have made tasks like staying in touch, planning, and increasing productivity simpler. On the other hand, they contribute to difficulties in disconnecting from work, providing undivided attention, and focusing on tasks without distraction.
Furthermore, emerging technologies like augmented reality and "hands-off" technology are likely to deepen our reliance on smartphones. However, this dependency raises concerns about personal privacy, data security, and the potential for increased stress and anxiety due to constant connectivity. The future of digital media and its effects on society thus remains a vibrant area for exploration and understanding, putting us in what can be described as pioneer territory.
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.
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.
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.
If $1,000,000 of 9% bonds are issued at 102 3/4, the amount of cash received from the sale is
a.$1,090,000
b.$1,027,500
c.$1,000,000
d.$750,000
Answer:
b.$1,027,500
Explanation:
First we need to find the number of bonds issued so we will divide 1,000,000 by 100 as we assume 100 is the face value. 1,000,000/100=10,000
Now we will multiply the number of bonds by the issue price in order to find the amount of cash received.
10,000*102.75=1,027,500
Federal subsidies that are only given to dairy farmers who own more than one hundred cows may raise concerns about the ______ of the policy.
Answer:
The correct word for the blank space is: equity.
Explanation:
People expect the government to implement policies that will boost the overall economy and that will provide equal opportunities. Though, sometimes certain criteria must be met so those policies can apply. This causes people who are not eligible to access the policies' benefits to believing the regulation itself does not have an equity principle.