in the mentioned scenario, the variable expense per hour is $149.625
A variable expense is a cost that changes in relation to a company's level of activity or production. This type of expense can increase or decrease based on various factors such as sales volume, production levels, or changes in pricing. Examples of variable expenses include raw materials, labor costs, and sales commissions.
For the above case, the variable expense per hour can be calculated using the formula:
Variable expense per hour = Fee per hour - (Total fixed expenses / Breakeven sales in dollars)
In this case, the variable expense per hour would be:
$150 - ($45,000 / $120,000) = $150 - $0.375 = $149.625
Therefore, it is concluded that the variable expense per hour is $149.625.
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5. A stock price is currently R60. Over each of the next two three-month periods it is expected to be up
by 10% or down by 10%. The risk-free interest rate is 12% per annum with continuous compounding.
a. What is the value of a six-month European put option with a strike price of R64?
b. What is the value of a six-month American put option with a strike price of R64?
a. The value of the six-month European put option with a strike price of R64 is R1.4323.
b. The value of the six-month American put option with a strike price of R64 is R4.
The value of a European put option can be calculated using the binomial option pricing model. The value of an American put option can also be calculated using the binomial option pricing model, but with an additional step to account for the possibility of early exercise.
a. The value of a six-month European put option with a strike price of R64 can be calculated as follows:
Calculate the up and down factors: u = e^(0.1*0.25) = 1.0253, d = e^(-0.1*0.25) = 0.9752Calculate the risk-neutral probabilities: p = (e^(0.12*0.25) - d) / (u - d) = 0.5289, 1-p = 0.4711Calculate the value of the option at the end of the second period: Vuu = max(0, 64 - 60*1.0253^2) = 0, Vud = max(0, 64 - 60*1.0253*0.9752) = 2.4316, Vdd = max(0, 64 - 60*0.9752^2) = 5.8947Calculate the value of the option at the end of the first period: Vu = (0.5289*0 + 0.4711*2.4316) / e^(0.12*0.25) = 0.9196, Vd = (0.5289*2.4316 + 0.4711*5.8947) / e^(0.12*0.25) = 2.7986Calculate the value of the option at the beginning of the first period: V = (0.5289*0.9196 + 0.4711*2.7986) / e^(0.12*0.25) = 1.4323Therefore, the value of the six-month European put option with a strike price of R64 is R1.4323.
b. The value of a six-month American put option with a strike price of R64 can be calculated as follows:
Calculate the up and down factors: u = e^(0.1*0.25) = 1.0253, d = e^(-0.1*0.25) = 0.9752Calculate the risk-neutral probabilities: p = (e^(0.12*0.25) - d) / (u - d) = 0.5289, 1-p = 0.4711Calculate the value of the option at the end of the second period: Vuu = max(0, 64 - 60*1.0253^2) = 0, Vud = max(0, 64 - 60*1.0253*0.9752) = 2.4316, Vdd = max(0, 64 - 60*0.9752^2) = 5.8947Calculate the value of the option at the end of the first period: Vu = max((0.5289*0 + 0.4711*2.4316) / e^(0.12*0.25), 64 - 60*1.0253) = 0.9196, Vd = max((0.5289*2.4316 + 0.4711*5.8947) / e^(0.12*0.25), 64 - 60*0.9752) = 3.8083Calculate the value of the option at the beginning of the first period: V = max((0.5289*0.9196 + 0.4711*3.8083) / e^(0.12*0.25), 64 - 60) = 4Therefore, the value of the six-month American put option with a strike price of R64 is R4.
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What is a good approach to "Sell me this pen!"?What is a good conversation flow? Why?Write the structure and the questions
An effective approach to "Sell me this pen!" would involve understanding the customer's needs and motivations. Start by asking the customer questions to determine their needs and why they might be interested in the pen.
Some potential questions could include:
- What do you typically use pens for?
- What features are you looking for in a pen?
- What budget do you have in mind for a pen?
once you understand the customer's needs and motivations, you can tailor your conversation and sales pitch to fit their needs. Explain the features and benefits of the pen, and why it's a great choice for them. Make sure to emphasize the benefits that address their needs and give clear examples if possible.
Once you've presented the pen and given the customer all the information they need to make an informed decision, end with a simple call to action, such as asking them to purchase the pen or inviting them to try it out.
By asking the right questions and tailoring your conversation to the customer's needs, you can create an effective conversation flow that is sure to result in a successful sale.
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Based on: Tadelis, S. (2013). Game theory : an introduction. Princeton University Press.
Consider the Bertrand game with c1(q1) = 100q1 and c2(q2) = 120q2, demand equal to p = 10000 − q, and where firms must choose prices in increments of twenty HUF. The whole demand goes to the firm which offers lower prices and if both firms have the same price, the market is shared equally.
a) How many Nash equilibria in pure strategies does the game have? Describe them.
b) What happens to the set of equilibria in pure strategies if a third firm enters the market with c3(q3) = 100q3?
a) The Bertrand game has only one Nash equilibrium in pure strategies. This occurs when both firms choose the same price, which is equal to the marginal cost of the higher-cost firm.
In this case, the equilibrium price is 120 HUF, and both firms share the market equally. Each firm produces q = (10000 - 120)/2 = 4940 units, and earns a profit of (120 - 100) * 4940 = 98800 HUF.
b) If a third firm enters the market with c3(q3) = 100q3, the Nash equilibrium in pure strategies changes. Now, the equilibrium price is equal to the marginal cost of the lowest-cost firm, which is 100 HUF.
The third firm captures the entire market, producing q3 = 10000 - 100 = 9900 units, and earning a profit of (100 - 100) * 9900 = 0 HUF.
The other two firms do not produce anything, and earn zero profits. Therefore, the entry of the third firm eliminates the profits of the other two firms, and leads to a more competitive market outcome.
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The partnership agreement of BADIE, CONNIEand NATIE in BACONA CO., a partnership engaged in vaccination services provides for the year-end allocation of net income in the following order:
* First, BADIE is to receive 10% of net income up to P200,000 and 20% over P200,000.
* Second, CONNIE and NATIE each are to receive 5% of the remaining income over P300,000.
* The balance of income is to be allocated equally among the three partners.
During the year, the partners made a total withdrawal of P30,000, P20,000, and P10,000 respectively.
The partnership’s 2021 income statement shows a total revenue of P1,200,000 and total operating expenses of P700,000 before any allocations to partners.
Required:
1. Prepare a division of profit and loss in good form for BACONA CO.
2. Give the journal entries to close all the nominal and temporary accounts.
1. The division of profit and loss for BACONA CO. for 2021 is as follows:
BADIE: 10% of P200,000 = P20,000 + 20% of (P1,200,000 - P200,000) = P184,000
CONNIE and NATIE: 5% of (P1,200,000 - P300,000) = P45,000 each
Remaining balance: P200,000/3 = P66,667 each
2. The journal entries to close all nominal and temporary accounts would be as follows:
Debit all nominal and temporary accounts for the expenses, revenues, and withdrawals. Credit the respective accounts for the corresponding amounts:
Debit Badie's Capital Account P200,000
Debit Connie's Capital Account P200,000
Debit Natie's Capital Account P200,000
Credit Badie's Drawing Account P30,000
Credit Connie's Drawing Account P20,000
Credit Natie's Drawing Account P10,000
Debit Revenue Account P1,200,000
Credit Expense Account P700,000
Debit Badie's Profit and Loss Account P204,000
Debit Connie's Profit and Loss Account P245,000
Debit Natie's Profit and Loss Account P245,000
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The party with a short position in a futures contract sometimes has options as to the precise asset that will be delivered, where delivery will take place, when delivery will take place, and so on. Do these options increase or decrease the futures price? Explain your reasoning.
The options available to the party with a short position in a futures contract can increase or decrease the futures price depending on the specific details of the contract.
If the options allow for more flexibility and reduce the risk associated with the contract, the futures price may decrease. However, if the options create more uncertainty and increase the risk associated with the contract, the futures price may increase.
For example, if the short position has the option to deliver the asset at different locations, this may reduce the risk of delivery and decrease the future price. However, if the short position has the option to deliver the asset at a later date, this may increase the risk of price fluctuations and increase the future price.
Overall, the impact of these options on the futures price depends on the specific details of the contract and how they affect the risk and uncertainty associated with the contract.
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Why was the second ring of von Thunen's original model more important prior to the industrial revolution than it is today?
*do not count the urban center as a ring
It does not matter if it is close to the city because wood is no longer required as an energy source.
The ability of a system to do labour is the traditional definition of energy, but because energy can exist in so many various forms, it is challenging to come up with a single, all-inclusive definition. Natural resources for renewable energy are abundant and sustainable. These organic, renewable energy sources are kind to the environment. Hardwood, charcoal, chips, sheets, pellets, and sawdust are all examples of wood fuel. Source, quantity, quality, and use are just a few of the elements that influence the specific shape that is employed. Nowadays, wood burning is the solid fuel source that uses the most energy.
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PS this is for SOUTH AFRICA
New toys Ltd carries on business as a manufacturer of toys from its main branch in the Republic. The company also operates a depot in Botswana, where sales are made to customers living in Botswana. The Botswanan depot does not operate as an independent branch. New toys Ltd has been registered as a Category ‘A’ vendor. All amounts include VAT where appropriate. The following information is provided
Receipts:
February March
1. Cash sales made by the Republic branch to South African customers 199 300 182 200
Cash sales made by the Botswanan depot to Botswanan customers (these goods were forwarded to the depot on 10 January and were all sold by the end of March) 45 400 56 800
2. Insurance payment received on an insurance claim for trading stock stolen in the Republi 176 500 3. Interest received on a loan to a subsidiary company in the Republic 19 180 4. Cash received for the sale of an old machine to Mr Bell, the majority shareholder. Mr Bell is not a registered vendor. The machine originally cost R20 000 and had a book value of R5 000 on the date of sale. The open market value on the date of sale was R17 980. 16 900 expenses February March
1) wages and salareis 69 340 62 500
2) property rate on the business property 7 210 7 210
3) Electricity and water 6 583 6 355
4) telephone 6 412 6 070
5) raw materials purchased from other vendors 142 300 96 700
6) cost of entertaining important customer at cariouse restuartans in durban 6 868 6 412
7) purchase of a new single cab bakkie for use as a delivery vechile * cost 176 500 * Finance charges paid 14 050 8) Cash cost of a new montor car purchased for general use within the business 96 700 9) Petrol for delivery vechilcle and the new motor car 6 412 6526
10) maintenance of delivery cehicle and the new motor car 6 298 6412
11) new toys purchased three water bottles fo the cold water dispening machine in the staff cantee. These bottles cost R2 000 each and wer pid for in March 11 500 Required calculate the VAT payable by or refundable to New Toys Ltd in respect of its two - month tax period ended 31 March 2020.
( Show detailed workings of how you would deal with each item)
NB Round off your calculation to the nearest Rand.
The VAT payable or refundable for New Toys Ltd can be calculated by subtracting the input tax from the output tax for the two-month tax period ended 31 March 2020. The New Toys Ltd is entitled to a VAT refund of R282 for the two-month tax period ended 31 March 2020.
The output tax is the VAT charged on sales and the input tax is the VAT paid on purchases. The detailed workings for each item are shown below:
Output Tax:
1. Cash sales made by the Republic branch to South African customers: (199300 + 182200) x 15% = 57150
2. Cash sales made by the Botswanan depot to Botswanan customers: (45400 + 56800) x 15% = 15330
3. Insurance payment received on an insurance claim for trading stock stolen in the Republic: 176500 x 15% = 26475
4. Interest received on a loan to a subsidiary company in the Republic: 19180 x 15% = 2877
5. Cash received for the sale of an old machine to Mr Bell: 16900 x 15% = 2535
Total Output Tax = 57150 + 15330 + 26475 + 2877 + 2535 = 104367
Input Tax:
1. Wages and salaries: (69340 + 62500) x 15% = 19764
2. Property rate on the business property: (7210 + 7210) x 15% = 2163
3. Electricity and water: (6583 + 6355) x 15% = 1947
4. Telephone: (6412 + 6070) x 15% = 1872
5. Raw materials purchased from other vendors: (142300 + 96700) x 15% = 35250
6. Cost of entertaining important customer at various restaurants in Durban: (6868 + 6412) x 15% = 1992
7. Purchase of a new single cab bakkie for use as a delivery vehicle: (176500 + 14050) x 15% = 28583
8. Cash cost of a new motor car purchased for general use within the business: 96700 x 15% = 14505
9. Petrol for delivery vehicle and the new motor car: (6412 + 6526) x 15% = 1941
10. Maintenance of delivery vehicle and the new motor car: (6298 + 6412) x 15% = 1907
11. New toys purchased three water bottles for the cold water dispensing machine in the staff canteen: 11500 x 15% = 1725
Total Input Tax = 19764 + 2163 + 1947 + 1872 + 35250 + 1992 + 28583 + 14505 + 1941 + 1907 + 1725 = 104649
VAT Payable or Refundable = Output Tax - Input Tax = 104367 - 104649 = -282
Therefore, New Toys Ltd is entitled to a VAT refund of R282 for the two-month tax period ended 31 March 2020.
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New Product Development discussion; Review this chapter's opening vignette on True Buch Kombucha and gather additional information about this and other products in this category by going online to visit brand websites and social media sites. Also, review the latest news in this category. Present your ideas on how the online environment can be used to market True Buch Kombucha to consumers.
The online environment can be used to market True Buch Kombucha to consumers in a variety of ways. First, social media platforms can be used to create targeted ads that reach potential customers based on their interests and demographics.
Another way to market True Buch Kombucha online is through influencer marketing. This involves partnering with influencers or bloggers who have a large following and can promote the product to their audience. This can be an effective way to reach a wider audience and build brand awareness. Lastly, the company can use email marketing to communicate with customers and offer promotions or discounts. This can help to drive sales and build customer loyalty. Overall, the online environment offers a variety of tools and strategies for marketing True Buch Kombucha to consumers. By leveraging social media, influencer marketing, and email marketing, the company can reach a wider audience and build a strong brand presence online.
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4. COST OF EQUITY CAPITAL (2) Analysts who research the stock market have found differences in required rates of return based on company size. The economist Eugene Fama studied stock market returns fo
This is because larger companies are typically considered to be less risky investments than smaller companies, and therefore require a lower rate of return to compensate for this lower level of risk of stock market .
Analysts who research the stock market have found that there are differences in the required rates of return based on company size.
The cost of equity capital refers to the amount that a company needs to pay to its shareholders for the use of their funds. It is an important consideration for companies because it affects their overall cost of capital and can have a significant impact on their ability to raise additional funds for expansion or other purposes.
One economist who has studied this phenomenon is Eugene Fama, who conducted research on stock market returns for different sized companies. Fama found that there is a relationship between company size and required rates of return, with smaller companies generally requiring higher rates of return than larger companies.
This is important for companies to consider when they are determining their cost of equity capital, as it can have a significant impact on their ability to raise funds and make investments.
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PROJECT CASE: Establish a Vaccination CentreBackgroundA virus named Covid-Zetta is spreading across the world with high contagious and mortality rates. Many countries have tried to tackle the virus with various measures. Human interactions have to be limited and Work from Home (WFH) needs to be imposed. Fortunately, a newly invented vaccine, Anti Zetta Vaccine (AZV), has been proven to be 90% effective against the virus. The Singapore government has set up a Covid-Zetta Task Force chaired by the Minister for Health to fight against the virus. One of Task Force’s impetus is to vaccinate the citizens with AZV. As a start, a Vaccination Centre with vaccine storage facility has to be established. The Task Force names it the Covid-Zetta Vaccination Centre (CVC) Project.Section 1: Leading the Project and Managing the Project TeamQuestion:The Minister has appointed you as the CVC Project Manager. A three-member (including yourself) core project team is needed. As the vital fight against Covid-Zetta is done at the national level, you can request for resources within the civil service. Examine how the team can be formed by recruiting members from relevant ministries or statuary boards. Discuss two (2) major advantages of this formation.
As the Project Manager for the Covid-Zetta Vaccination Centre (CVC) Project, I would form a three-member core project team from relevant ministries or statuary boards.
This team formation has two major advantages.
First, it ensures that the team has the specialized knowledge and skills necessary to complete the project. By drawing from different government departments, the CVC Project can be well-staffed with professionals who are experts in their respective areas. For example, the team can include a medical specialist, an administrator, and a software engineer.
Second, the team formation allows for the quick implementation of the project. This is because members of the team are already familiar with the respective ministry’s systems, processes, and protocols. As a result, the team can hit the ground running, rather than having to learn about a new process or system.
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Assignment Question(s):(10.0 Marks)Assume X Corp creates a subsidiary, Y Corp, and invests $500,000 cash in exchange for all of the $1 par common stock (2,000 shares). (2.5 marks)X Corporation created Y Corporation with a transfer of $1,000 cash.During Y Corp.’s first year of operations, it generated a net loss of $50 and paid no dividends.During Y Corp.’s second year of operations, it generated net income of $100 and paid cash dividends of $30.(2.5 marks)X Corp.Acquired 100% of common stock of Y Corp.Paying $ 2 Million in return for 50 Thousand common stock with $ 1 par value. Y Corp. realized $100 Thousand net income and paid $30 Thousand cash dividends. (2.5 marks)X Corp.Acquired 100% of common stock of Y Corp.X Corp. assumed acquisition expenses as follows (amounts in $)(2.5 marks)What would journal entries X and Y make at the time of the investment?Answer:Required:A. Pass journal entries in the books of X corp. in year 1 and year 2 using equity method.B. What is the balance of investment account at the end of year 2 using equity method?C. Pass journal entries in the books of X corp. in year 1 and year 2 using cost Method.D. What is the balance of investment account at the end of year 2 using cost method?Answer:Required: pass basic elimination entries in consolidation work sheet.Answer:Legal fees50,000Accounting fees30,000Travel expenses10,000Legal fees (stock issue)20,000Accounting fees (stock)15,000SEC filing fees (stock)10,000Prior to the acquisition date, $90,000 have been paid and capitalized to a deferred charges account on the balance sheet. The remaining $45,000 has not been paid or accrued.Required:Prepare the journal entry to record the acquisition expenses.Answer:
Investment in Y Corp. 500,000
Cash 500,000
Year 2:
Investment in Y Corp. 100
Equity in earnings of Y Corp. 100
Cash 30
Investment in Y Corp. 30
A. Journal entries in the books of X Corp. using the equity method.
B. The balance of the investment account at the end of year 2 using the equity method is $500,070 ($500,000 + $100 - $30).
Year 1:
Investment in Y Corp. 500,000
Cash 500,000
Year 2:
Cash 30
Dividend income 30
C. Journal entries in the books of X Corp. using the cost method.
Required: Pass basic elimination entries in consolidation work sheet.
Elimination Entry 1:
Common stock of Y Corp. 1
Investment in Y Corp. 1
Elimination Entry 2:
Equity in earnings of Y Corp. 100
Retained earnings of Y Corp. 100
Elimination Entry 3:
Dividends declared by Y Corp. 30
Dividend income 30
D. The balance of the investment account at the end of year 2 using the cost method is $500,000 (no change from the initial investment).
Acquisition expenses 135,000
Cash 90,000
Accounts payable 45,000
Required: Prepare the journal entry to record the acquisition expenses.
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A user performs a search for: Best Mexican Restaurants Near Me. Which keywords are eligible to show an ad for this search? [best Mexican Restaurants] "best mexican restaurants" "best mexican restaurant" local mexican restaurants "local mexican restaurants" [best mexican restaurants near me] [best mexican restaurant near me] "best mexican restaurants near me" mexican restaurants mexican food
The keywords that are eligible to show an ad for this search are: [best Mexican Restaurants], "best mexican restaurants", "best mexican restaurant", [best mexican restaurants near me], [best mexican restaurant near me], and "best mexican restaurants near me".
Mexican cuisine is bursting with spices and sauces. Mole (pronounced moe-lay) is a spicy sauce used to flavour Mexican dishes such as enchiladas and quesadillas. Chili peppers, which give every dish a kick, are the main ingredients of mole.
These keywords are eligible because they directly match or closely match the user's search query. The other keywords, such as local mexican restaurants, "local mexican restaurants", mexican restaurants, and mexican food, may be related to the user's search, but they do not directly match or closely match the user's search query, so they are not eligible to show an ad for this search.
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Thermal Rising, Incorporated, makes paragliders for sale through specialty sporting goods stores. The company has a standard paraglider model, but also makes custom-designed paragliders. Management has designed an activity-based costing system with the following activity cost pools and activity rates:Activity Cost Pool Activity RateSupporting direct labor $ 16 per direct labor-hourOrder processing $ 192 per orderCustom design processing $ 255 per custom designCustomer service $ 426 per customerManagement would like an analysis of the profitability of a particular customer, Big Sky Outfitters, which has ordered the following products over the last 12 months:Standard Model Custom DesignNumber of gliders 12 2Number of orders 2 2Number of custom designs 0 2Direct labor-hours per glider 26.50 32.00Selling price per glider $ 1,925 $ 2,420Direct materials cost per glider $ 460 $ 568The company’s direct labor rate is $18 per hour.Required:Using the company’s activity-based costing system, compute the customer margin of Big Sky Outfitters. (Round your intermediate calculations and final answer to the nearest whole dollar amount. Loss amounts should be entered with a minus sign.)
The customer margin for Big Sky Outfitters is $6,894.
How did we get the value?First, we need to calculate the total cost of each product, including both direct and indirect costs:
Standard Model:
Direct labor cost = 12 gliders x 26.5 direct labor hours per glider x $18 per hour = $5,724
Direct materials cost = 12 gliders x $460 per glider = $5,520
Supporting direct labor cost = 12 gliders x 26.5 direct labor hours per glider x $16 per direct labor hour = $5,328
Order processing cost = 2 orders x $192 per order = $384
Customer service cost = 1 customer x $426 per customer = $426
Total cost = $17,382
Custom Design:
Direct labor cost = 2 gliders x 32 direct labor hours per glider x $18 per hour = $1,152
Direct materials cost = 2 gliders x $568 per glider = $1,136
Custom design processing cost = 2 custom designs x $255 per custom design = $510
Supporting direct labor cost = 2 gliders x 32 direct labor hours per glider x $16 per direct labor hour = $1,024
Order processing cost = 2 orders x $192 per order = $384
Customer service cost = 1 customer x $426 per customer = $426
Total cost = $4,632
Next, we need to calculate the revenue generated by each product:
Standard Model:
Revenue = 12 gliders x $1,925 per glider = $23,100
Custom Design:
Revenue = 2 gliders x $2,420 per glider = $4,840
Now we can calculate the customer margin for Big Sky Outfitters:
Customer Margin = Total revenue - Total cost
Customer Margin = ($23,100 + $4,840) - ($17,382 + $4,632)
Customer Margin = $28,908 - $22,014
Customer Margin = $6,894
Therefore, the customer margin for Big Sky Outfitters is $6,894.
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Suppose the market follows a single index model, where the index has expected return of 10% and risk- free rate is 5%. For a stock with risk premium of 4% and abnormal return of 1%, what is the beta of this stock?
To find the beta of the stock, we can use the Capital Asset Pricing Model (CAPM) formula:
E(Ri) = Rf + beta(Rm - Rf) + AR
Where:
E(Ri) = expected return of the stock
Rf = risk-free rate
beta = beta of the stock
Rm = expected return of the market
AR = abnormal return
We can rearrange the formula to solve for beta:
beta = (E(Ri) - Rf - AR) / (Rm - Rf)
Plugging in the given values:
beta = (10% - 5% - 1%) / (10% - 5%)
beta = (4%) / (5%)
beta = 0.8
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convention on the rights of the childconvention type from the formal and substantive type.whats the conditions of conservatism.can the terms be edit, and whats the standards.can we reconsider of the terms of the treaty.can we quit the treaty.summary from the substantive type.
The Convention on the Rights of the Child is a formal and substantive treaty created to protect the rights of children around the world. The conditions of conservatism involve the application of the Convention’s standards to traditional societies and cultural values.
The terms of the Convention cannot be edited and must be respected by signatories. Quitting the Convention is possible, but only after two years’ notice is given and all rights outlined by the Convention must be maintained until the Convention is officially terminated.
Substantive rights outlined in the Convention are those related to civil, cultural, economic, political, and social rights, such as the right to life, education, and health care.
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(a) Differentiate between adjusting and non adjusting
events and explain their implications to financial statements.
(b) Elaborate on the two fundamental characteristics
of financial statements.
(a) These events provide additional information about the financial position of the company at the balance sheet date and, therefore, need to be reflected in the financial statements. Examples of adjusting events include the settlement of a lawsuit or the receipt of additional information about an asset or liability.
These events do not need to be reflected in the financial statements but may need to be disclosed in the notes to the financial statements. Examples of non-adjusting events include the declaration of a dividend or the loss of a major customer.
(b) Relevance means that the financial statements should provide information that is useful to the users in making decisions. Reliability means that the financial statements should be free from material error and should accurately reflect the financial position of the company. These two characteristics are important because they ensure that the financial statements provide a true and fair view of the company's financial position and performance.
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34. A risk- avers investor prefers to hold: a. More risky
assets. b. Less- risky assets. c. Assets with less uncertainty
associated with their returns: d. Both (b) and (c).
A risk-averse investor is someone who prefers to hold less-risky assets and assets with less uncertainty associated with their returns. Therefore, the correct answer is option d. Both (b) and (c).
Risk-averse investors are those who prefer to avoid risk as much as possible. They are more concerned with preserving their capital than with making high returns. As a result, they tend to invest in assets that have lower levels of risk and uncertainty associated with their returns, such as bonds, certificates of deposit, and money market funds.
In contrast, risk-seeking investors are willing to take on more risk in the hopes of earning higher returns. They may invest in assets such as stocks, real estate, and commodities, which have higher levels of risk and uncertainty associated with their returns.
Overall, a risk-averse investor prefers to hold less-risky assets and assets with less uncertainty associated with their returns in order to minimize their risk exposure and protect their capital.
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Debtholders would be looking for the following when considering loaning money to a company: a. Ability to vote on corporate issues b. Preference over stockholders on liquidation c. Unlimited life d. Payment of dividends
The elements that debtholders will look for when lending money to a company are as follows Preference over stockholders on liquidation and Payment of dividends. Alternatives b. and d. are correct.
Debtholders are individuals or institutions that lend money to a company with the expectation of being repaid with interest. When considering loaning money to a company, debtholders are primarily concerned with the company's ability to repay the debt and the level of risk involved.
As a result, debtholders typically look for preference over stockholders on liquidation, meaning that they will be paid before stockholders in the event that the company goes bankrupt. Debtholders also look for payment of dividends, which are regular payments made by the company to its debtholders as a return on their investment.
In conclusion, the correct alternatives are:
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3. If a firm goes from zero debt to successively higher levels
of debt, why would you expect its stock price to rise at first,
then hit a peak, and then begin to decline?
A firm increases its debt levels, its stock price may rise at first, reach a peak, and then begin to decline.
The stock price of a firm is typically directly correlated to the amount of debt that a firm holds. As the debt of a firm increases, the stock price may initially rise due to increased financial leverage.
However, at a certain point, the increased debt can signal that the firm may be taking on too much risk, which could lead to a decrease in the stock price.
1. As the firm takes on more debt, it is able to leverage its assets to generate more profits. This leads to an increase in the stock price as investors see the potential for higher returns.
2. However, as the level of debt continues to increase, the firm becomes more risky. This is because the firm has to pay interest on the debt, which reduces the amount of profits available to shareholders. As a result, the stock price may hit a peak and then begin to decline.
3. Additionally, if the firm's level of debt becomes too high, it may face difficulty in meeting its debt obligations. This can lead to a decline in the stock price as investors become concerned about the firm's ability to repay its debt.
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Q2: Suppose that a farmer plants corn on his farm. In the first year, his yield is 1000 kilograms of corn. However, its subsequent yield is expected to decrease by 10% over the previous year’s yield since the weather conditions getting worse each year. Suppose that the selling price of corn is expected to be $4 per kilograms for the first year, but to increase at the rate of 5% over the previous year’s price. At the end of each year, he deposits all his revenue for his child’s college education at an interest rate of 12% compounded annually. What would be the amount in the bank at the end of seventh year?
The amount in the bank at the end of the seventh year would be $39420.73.
The amount in the bank at the end of the seventh year can be calculated using the following formula:
[tex]A = P(1 + r/n)^(nt)[/tex]
Where: A = final amount P = initial principal r = annual interest rate n = number of times interest is compounded per year t = number of years First, we need to calculate the total revenue for each year. This can be done using the following formula:
Revenue = Yield x Price
For the first year, the revenue is:
Revenue = 1000 x 4 = $4000
For the subsequent years, we need to calculate the yield and price for each year, and then calculate the revenue. The yield for each year can be calculated using the following formula:
Yield = Previous year's yield x (1 - 0.1)
The price for each year can be calculated using the following formula:
Price = Previous year's price x (1 + 0.05)
Using these formulas, we can calculate the revenue for each year, and then use the formula for compound interest to calculate the final amount in the bank at the end of the seventh year. The calculations are shown below:
Year 1:
Yield = 1000
Price = 4
Revenue = 1000 x 4 = $4000
A = 4000(1 + 0.12/1)^(1*1) = $4480
Year 2:
Yield = 1000 x (1 - 0.1) = 900
Price = 4 x (1 + 0.05) = 4.2
Revenue = 900 x 4.2 = $3780
A = (4480 + 3780)(1 + 0.12/1)^(1*1) = $9254.40
Year 3:
Yield = 900 x (1 - 0.1) = 810
Price = 4.2 x (1 + 0.05) = 4.41
Revenue = 810 x 4.41 = $3570.90
A = (9254.40 + 3570.90)(1 + 0.12/1)^(1*1) = $14368.74
Year 4:
Yield = 810 x (1 - 0.1) = 729
Price = 4.41 x (1 + 0.05) = 4.63
Revenue = 729 x 4.63 = $3374.07
A = (14368.74 + 3374.07)(1 + 0.12/1)^(1*1) = $20092.50
Year 5:
Yield = 729 x (1 - 0.1) = 656.1
Price = 4.63 x (1 + 0.05) = 4.86
Revenue = 656.1 x 4.86 = $3188.64
A = (20092.50 + 3188.64)(1 + 0.12/1)^(1*1) = $26274.53
Year 6:
Yield = 656.1 x (1 - 0.1) = 590.49
Price = 4.86 x (1 + 0.05) = 5.10
Revenue = 590.49 x 5.10 = $3013.10
A = (26274.53 + 3013.10)(1 + 0.12/1)^(1*1) = $32982.13
Year 7:
Yield = 590.49 x (1 - 0.1) = 531.44
Price = 5.10 x (1 + 0.05) = 5.36
Revenue = 531.44 x 5.36 = $2848.52
A = (32982.13 + 2848.52)(1 + 0.12/1)^(1*1) = $39420.73
Therefore, the amount in the bank at the end of the seventh year would be $39420.73.
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List the GLOBE Study clusters. How is the study application tied
to Emotional intelligence?
The GLOBE (Global Leadership and Organizational Behavior Effectiveness) study identified six clusters of cultural dimensions. These clusters are Uncertainty avoidance,Power distance,Institutional collectivism, In-group collectivism, Gender egalitarianism,Assertiveness.
The GLOBE study is tied to emotional intelligence in that it helps leaders to understand the cultural dimensions of different countries and how they impact organizational behavior. This understanding can help leaders to better manage their emotions and the emotions of their employees in a culturally sensitive way. For example, a leader with high emotional intelligence would be able to recognize the cultural differences between an employee from a high uncertainty avoidance culture and an employee from a low uncertainty avoidance culture, and adjust their leadership style accordingly.
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Devon was surprised that his pay check was less than he had expected. His
paycheck was reduced because
had been withheld by his employer.
OA. incentives
B. commissions
C. gross pay
OD. deductions
The answer is C. Gross pay. Devon's paycheck was reduced because it had been withheld by his employer as gross payment.
"Gross pay" mean?Before any taxes, benefits, or other payroll deductions are done , an employee's gross salary is what they are paid. Net pay, often known as take-home pay, is the amount that is given after all withholdings have been taken into consideration.
Calculate my gross pay?Start by determining the total amount need for each pay period in order to see an employee's gross compensation. Hourly workers multiply their total hours worked by their hourly rate, plus any overtime. Employees on a salary split their yearly earnings by the number of pay periods.
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You have just been employed as the Management Accountant of Ismael & Co, a newly
established manufacturing company in Kurdistan. The managing director of Ismael & Co has told
you that in the first year of operation, the company's aim is to ensure that its total revenue is
equal to its total costs, meaning they are not expecting to make any profit or loss.
The managing director of Ismael & Co has asked you (the Management Accountant) to list the
methods of achieving this aim in the first year?
As a Management Accountant at Ismael & Co, there are several methods that can be implemented to achieve the aim of ensuring that the company's total revenue is equal to its total costs in the first year of operation. These methods include:
1. Cost control: This involves keeping track of all the company's expenses and finding ways to reduce them without compromising the quality of the company's products or services.
2. Pricing strategy: Setting the right prices for the company's products or services is crucial in achieving the aim of equalizing total revenue and total costs. This can be done by conducting market research to determine the prices that customers are willing to pay and setting prices accordingly.
3. Sales volume: Increasing the company's sales volume can also help in achieving the aim of equalizing total revenue and total costs. This can be done by implementing effective marketing strategies to attract more customers and increase sales.
4. Product mix:The company can also consider adjusting its product mix to include products with higher profit margins. This can help in achieving the aim of equalizing total revenue and total costs.
5. Efficiency: Improving the efficiency of the company's operations can also help in achieving the aim of equalizing total revenue and total costs. This can be done by streamlining processes and eliminating waste.
In conclusion, as the Management Accountant of Ismael & Co, implementing the above methods can help in achieving the aim of ensuring that the company's total revenue is equal to its total costs in the first year of operation.
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a-What’s themost importantitems in the Assets for bank?b-OperatingEfficiency means?
Assets for banks are typically the most important items in a bank's balance sheet. These include cash, securities, loans and other investments. Operating Efficiency is a measure of how effectively a bank utilizes its assets, personnel, and other resources to generate profits.
a- The most important items in the Assets for bank are:
Cash and balances with central banksLoans and advances to customersFinancial investmentsDerivativesProperty, plant, and equipmentb- Operating Efficiency means the ratio of a company's operating expenses to its operating income. It is a measure of how well a company is utilizing its resources to generate profits.
A higher operating efficiency indicates that the company is able to generate more profits with the same amount of resources, while a lower operating efficiency indicates that the company is not utilizing its resources effectively and is therefore less profitable.
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A US-based speculator is considering the purchase of a three-month Japanese yen put option on ¥1,000,000, with a strike price of 97 cents per ¥100. The option is American-style, with a premium of 2 cents per ¥100. The current spot exchange rate is 98 cents per ¥100 and the three-month forward exchange rate is 99 cents per ¥100.
(a) (2 points) Suppose the speculator decides to purchase this contract. Does this decision indicate that the speculator holds a bullish or bearish view on the Japanese yen against the US dollar?
(b) (2 points) What are the current intrinsic value and time value of the option contract?
(c) (2 points) If the speculator holds the contract to expiration, determine his total profit/loss if the
spot price of the yen becomes 94 cents per ¥100 in three months.
(d) (4 points) If the speculator holds the contract to expiration, graph the put option’s cash flow (i.e. profit/loss) schedule in US cents per ¥100 purchased. Label on the graph the premium, strike price, and the break-even point of the option. Please also label the axes of the graph.
The graph shows that the speculator will make a profit if the spot price of the yen drops below the strike price of 97 cents per ¥100, and the profit increases as the spot price of the yen decreases. The maximum profit of 4 cents per ¥100 will be made when the spot price of the yen is 94 cents per ¥100. The speculator will make a loss if the spot price of the yen is above the strike price, and the loss increases as the spot price of the yen increases.
(a) The decision to purchase this contract indicates that the speculator holds a bearish view on the Japanese yen against the US dollar.
(b) The current intrinsic value of the option contract is 0, as the spot exchange rate is higher than the strike price. The current time value of the option is 2 cents per ¥100.
(c) If the spot price of the yen becomes 94 cents per ¥100 in three months, the speculator will make a total profit of 4 cents per ¥100 from the option contract.
(d) The graph of the put option’s cash flow schedule in US cents per ¥100 purchased can be seen below. The x-axis represents the spot price of the yen and the y-axis represents the option’s profit/loss. The premium of 2 cents per ¥100 is labeled as “Premium” on the graph, the strike price of 97 cents per ¥100 is labeled as “Strike Price” and the break-even point of the option is labeled as “Break-Even”.
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(a) The speculator holds a bearish view on the Japanese yen against the US dollar.
(b) The current intrinsic value of the option contract is zero
(c) If the spot price of the yen becomes 94 cents per ¥100 in three months, the speculator will exercise the option and sell the yen at the strike price of 97 cents per ¥100.
(d) The maximum loss is the premium paid for the option, and the maximum profit is unlimited.
(a) The speculator holds a bearish view on the Japanese yen against the US dollar. This is because he is buying a put option, which gives him the right to sell the yen at a fixed price in the future. If he believes that the yen will depreciate against the dollar, he can exercise the option and sell the yen at a higher price than the current market price.
(b) The current intrinsic value of the option contract is zero, because the spot exchange rate (98 cents per ¥100) is higher than the strike price (97 cents per ¥100). The time value of the option contract is the premium (2 cents per ¥100), which represents the cost of holding the option until expiration.
(c) If the spot price of the yen becomes 94 cents per ¥100 in three months, the speculator will exercise the option and sell the yen at the strike price of 97 cents per ¥100. His total profit will be the difference between the strike price and the spot price, minus the premium: (97 - 94) x ¥1,000,000 / 100 - (2 x ¥1,000,000 / 100) = $1,000.
(d) The put option’s cash flow schedule is shown in the graph below. The premium is represented by the horizontal line at -2 cents per ¥100, the strike price is represented by the vertical line at 97 cents per ¥100, and the break-even point is represented by the intersection of the two lines. The x-axis represents the spot price of the yen in US cents per ¥100, and the y-axis represents the profit/loss in US dollars.
| -
| -
| -
| -
| -
| -
| -
| -
| -
| -
---------------------|---------------------------
| 94 95 96 97 98 99
As the graph shows, the speculator will make a profit if the spot price of the yen falls below the break-even point of 95 cents per ¥100, and will incur a loss if the spot price of the yen rises above the break-even point. The maximum loss is the premium paid for the option, and the maximum profit is unlimited.
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Which of the four strategy levels is most concerned withsocial, ethical., or public issues? Discuss the characteristics ofthis level. Also, identify the steps involved in the strategicmanagement pr
The four strategy levels that are most concerned with social, ethical, or public issues are the corporate level, the business level, the functional level, and the operating level. The corporate level is responsible for setting the overall direction of the company and for making decisions that affect the entire organization.
The business level is responsible for making decisions about how the company will compete in specific markets. The functional level is responsible for making decisions about how to support the business level strategy. The operating level is responsible for making decisions about how to execute the functional level strategy.
The corporate level is the most concerned with social, ethical, or public issues because it is responsible for setting the overall direction of the company and for making decisions that affect the entire organization. This includes decisions about the company's social and ethical responsibilities, as well as decisions about how the company will interact with the public and respond to public concerns.
The steps involved in the strategic management process include:
1. Setting the company's mission and goals
2. Conducting a situation analysis
3. Developing a strategy
4. Implementing the strategy
5. Evaluating and controlling the strategy.
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What is the relationship between safety and quality?
The relationship between safety and quality is that they both go hand in hand. When there is a focus on safety, there is often an improvement in quality as well.
This is because when there are safe work practices in place, it reduces the risk of errors or accidents occurring which can affect the quality of a product or service. In addition, when there is a focus on quality, it often includes making sure that the work environment is safe and that employees are properly trained and equipped to do their jobs safely. Therefore, both safety and quality are important for ensuring that a product or service meets the desired standards and that employees and customers are protected.
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B. Do you think 'Designing the Communication' of those
advertisements was appropriate and convincing enough to communicate
its message to the potential customers? Why or Why not?
Yes, I think that the 'Designing the Communication' of those advertisements was appropriate and convincing enough to communicate its message to the potential customers. This is because the advertisements were designed in a way that was visually appealing and eye-catching, which helped to attract the attention of potential customers.
Additionally, the advertisements used clear and concise messaging that effectively communicated the benefits of the product or service being advertised. This helped to convince potential customers to take action and make a purchase. Overall, the 'Designing the Communication' of those advertisements was well-done and helped to effectively communicate the message to potential customers.
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Submit your critical reflective analysis about this chapter, "Developing an effective business model." Objectives include: business models and their importance, identifying and describing the two types of business models standard and disruptive, in which you demonstrate a well-grounded understanding of the theme in the chapter. Do not regurgitate the obvious facts, but build a bridge to the next level of thinking and application(s). At least 3 paragraphs. Highlight your ideas in the introduction paragraph and demonstrate their relevance to the chapter theme. You need at least 5-7 references that must be cited in the text to support your analysis, application, conclusion, and lessons learned.
Business models are essential for the success of any organization, as they provide the foundation for understanding the company's goals, values, and strategies. A business model typically includes the types of products and services offered, the target market and customer base, pricing and value proposition, distribution channels, and resources needed for the business to operate and succeed.
The chapter “Developing an Effective Business Model” explores two types of business models: standard models and disruptive models. Standard models are focused on preserving existing products and services while disruptive models focus on introducing new products and services that address customer needs in new ways. Standard models may involve existing technologies, products, and services, while disruptive models can often involve new technologies, products, and services.
Overall, business models are essential for organizations to understand and use to their advantage. The chapter “Developing an Effective Business Model” is an informative look at the different types of business models and how they can be utilized to benefit the business. Understanding the different types of business models, and the strategies that support them, can provide organizations with the insights they need to be successful.
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Assume that you are considering investing in small cap stocks, based upon research indicating that they earn more than large cap stocks, after adjusting for risk. You notice that the transactions costs (all up front, at the time of investing) of investing in small cap stocks is 5% and it is only 1% for large cap stock stocks. If large cap stocks are expected to earn 10% annually and your time horizon is three years, how much higher will the annual returns have to be on small cap stocks for you to break even on investing in the latter?
Question 8 options: 1.43%
1.52%
1.67%
1.83%
2.00%
The annual returns is 2% higher and have to be on small cap stocks for you to break even on investing in the latter. (E)
The question is asking what annual return on small cap stocks will be required to break even on the higher transaction costs of investing in small cap stocks.
To break even, the annual returns on small cap stocks must be 5% higher than the annual returns on large cap stocks, as the transaction costs of investing in small cap stocks is 5% higher.
Therefore, if large cap stocks are expected to earn 10% annually, the annual returns on small cap stocks will have to be 15% (10% + 5%) for you to break even on investing in small cap stocks. Therefore, the answer is 2.00%.(E)
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