Answer and Explanation:
The classification is as follows
a. The Dmirti is considered to be employed as she is working part-time
b.France is considered to be unemployed as currently he hasn't had a job he is still looking for a job
c. Jake is not in the labor force as he is so discouraged and due to which he gave up for job search
d. Rosa is considered to be unemployed as currently she has not have any job and currently she is looking for a job
e. Nick is to be considered as an employed as he is currently working
f. Latasha is to be considered in not in the adult population as she is just 12 year old student
Q 8.14: The financial statements of the Imagine Company report net sales of $1,000,000 and accounts receivable of $700,000 and $300,000 at the beginning of the year and end of year, respectively. What is the accounts receivable turnover for the Imagine Company
Answer:
2 times
Explanation:
The computation of accounts receivable turnover is shown below:-
Account receivable turnover ratio = Net credit sales ÷ Average accounts receivable
where,
Net credit sales is $1,000,000
And, the Average accounts receivable is
= (Accounts receivable, beginning of year + Accounts receivable, end of year) ÷ 2
= ( $700,000 + $300,000) ÷ 2
= $500,000
Accounts receivable turnover = Net sales ÷ Average accounts receivable
= $1,000,000 ÷ $500,000
= 2 times
n investment adviser has 3 managing partners and 3 investment adviser representatives. All of the partners have completed the Certified Financial Planner (CFP) program and received the designation. The 3 IARs have been enrolled in a CFP preparation course and are scheduled to take the next CFP exam. The IA publishes an advertisement that states: "All of our partners are Certified Financial Planners." This advertisement is:
Answer: permitted since it is true
Explanation:
From the question, we are informed that an investment adviser has 3 managing partners and 3 investment adviser representatives and that all of the partners have completed the Certified Financial Planner program and received the designation.
We are further told that the 3 IARs have been enrolled in a CFP preparation course and are scheduled to take the next CFP exam. The IA publishes an advertisement that states: "All of our partners are Certified Financial Planners."
This advertisement is allowed because the advertisement is true. Since, we are already given the information that the 3 partners of the firm have done their Certified Financial Programs, therefore, the statement is true and not a misleading one.
A homeowner receives a tax bill that includes an amount for the library district, taxed at $1.00 per $1,000, and the fire protection district, taxed at $2.00 per $1,000. How much does the taxpayer have to pay for these two items if the property's taxable value is $470,000?
Answer:
$1,410
Explanation:
Given the following :
Library district tax:
$1.00 per $1000
Fire protection district tax:
$2.00 per $1000
TAXABLE value of property = $470,000
Library district tax on property :
($470,000 ÷ $1000) * $1.00
470 * $1.00 = $470
Fire protection district tax on property :
($470,000 ÷ $1000) * $2.00
$470 * $2.00 = $940
Toral tax value :
$940 + $470 = $1,410
A borrower expresses a reluctance to continue signing documents. The Notary Signing Agent may:A borrower expresses concern that once he signs all the documents he will be "stuck" with a second mortgage. A good response by a Notary Signing Agent could be to:
Answer:
Explanation:
In this scenario, a good response by a Notary Signing Agent could be to provide the Borrower with the Lender's contact information, and suggest that he call the Lender immediately before continuing with Signing. This will allow the borrower to clear up any doubts or misconceptions that he may be having which will in term persuade him to sign all the documentation.
what is a good online website for a highschool student to do volunteering?
Jill is starting a fast food delivery company. She has designed a logo and plans to print flyers to advertise her services. Jill plans to publish a book based on her experiences to inspire young entrepreneurs. To help protect her publishing rights, she should register a ____.
Answer:
Copyright
Explanation:
Copyright refers to creating a record of your work that proves that you are the owner and because of that, you are the only one allowed to make copies of it and it protects against an unauthorized use. According to this, the answer is that to help protect her publishing rights, she should register a copyright because this will allow her to have a record of this and avoid plagiarism.
In Peyton v. Quality Motors, a state supreme court held that a minor could cancel a contract for the sale of a car. Now a trial court in the same state is deciding Rikki v. Street Deals, Inc., a case with similar facts. Under the doctrine of stare decisis, the trial court is likely to
Answer:
The trial court is likely to Allowed the minor to cancel the contract
Explanation:
Doctrine of Stare Decisis which simply means Let the decision stand.
Therefore Doctrine of STARE DECISIS can be seen as a legal doctrine that said that a courts has to follow historical cases when they are making a ruling on a similar case.
In order word they ensures that the cases with similar event and facts are been approached in the same or similar way which means that the courts has to follow any legal precedents set by previous decisions just as in the case of between Peyton v. Quality Motors, where a state supreme court held that a minor could cancel a contract for the sale of a car, this mean that the case between Peyton v. Quality is an Historical cases and Now that a trial court in the same state is deciding Rikki v. Street Deals, Inc., a case with similar facts with Peyton v. Quality this means that the court have to use the case of Peyton v. Quality
Under the doctrine of stare decisis to decide on the case of Rikki v. Street Deals.
The Federal Deposit Insurance Corporation: Question 7 options: a) has eliminated bank failures. b) insures all demand deposits without limit. c) insures all demand deposits up to $100,000. d) includes commercial banks and state-chartered banks as its members.
Answer:
D
Explanation:
The federal deposit Insurance Corporation is an independent federal agencies that insures deposit in banks against any bank failures. It includes commercial banks and state chartered banks as its members.
In order to ensure that bank failures are prevented , the FDIC monitors the operational safety and effectiveness of members bank . This insurance is limited to $250,000 per depositor per bank and it covers only the depository account like the checks and savings account.
Thompson Company had $1,000 in office supplies at the beginning of the fiscal year. At the end of the fiscal year, Thompson Company did an inventory of the office supplies and determined that $300 of supplies remained in the supply room unused. What is the amount of Supplies Expense at the end of the fiscal year?
Answer: Amount of supplies expense = $700
Explanation:
Given the following :
Amount of supplies at the beginning of the year = $1000
Amount of supplies which remained unused = $300
Amount of supplies expense at the end of the fiscal year = Amount of used supplies
Amount of used supplies = (amount of supplies at beginning - amount of unused supplies)
Amount of used supplies = ($1000 - $300)
Amount of used supplies = $700
Therefore, amount of supplies expense = $700
Adrianna Company purchases 35% of Saddle Company's outstanding stock for $450,000. At the time of acquisition, book value of the company's net assets is $1 million and the fair value of the company's net assets is $1.2 million. The difference between the book value and fair value of the net assets is attributed to undervalued land. Adrianna should
Answer:
The investment must be recorded using the equity method:
Dr Investment in Saddle company 450,000
Cr Cash 450,000
Even though the difference between historic cost and fair market value of the land is very significant, Adriana company cannot make any adjustments or amortizations to the investment account because land is a non-depreciable asset that must always be recorded at purchase cost. Any gain or loss can only be calculated after the land is sold, but meantime no adjustment is necessary.
Nola and Charles both own party planning firms in the small town of Trident, IA. Because they are the only party planners in town, they want to collude to make the price of party planning high. Classify the scenarios according to whether they are more likely to help or impede Nola and Charles colluding.
Helps collusion Impedes collusion
1. Charles develops a signature appetizer that becomes the must have in Trident
2. A party planning school opens and the new graduates are ready to plan!
3. Nola lowers her price on national television
4. Nola and Charles are regulars at the same coffee house. They talk regularly
5. Charles and Nola both charge a fixed per person price for a party
6. Nola's marginal cost is lower than Charles's.
7. Most of the parties are given by Trident's largest employer, a water bottling plant
Answer:
Nola and Charles Collusion at Trident, IA.
Helping or Impeding Scenarios:
Helping Scenarios:
4. Nola and Charles are regulars at the same coffee house. They talk regularly
5. Charles and Nola both charge a fixed per person price for a party
Impeding Scenarios:
1. Charles develops a signature appetizer that becomes the must have in Trident
2. A party planning school opens and the new graduates are ready to plan!
3. Nola lowers her price on national television
6. Nola's marginal cost is lower than Charles's.
7. Most of the parties are given by Trident's largest employer, a water bottling plant.
Explanation:
Nola and Charles can only enter a collusion agreement secretly because it is illegal. Since the agreement is secret, it is not enforceable in the court of law. The tendency for Nola and Charles to be entangled in the prisoner's dilemma is very high. It is also not possible for them to protect their collusion for very long because they have different cost bases and core competencies that derail collusion on a sustainable large scale. Graduates of party organization and other market participants, including the large firm that hosts most of the parties in the area will end the collusion before long.
A price floor A. changes the equilibrium price if it is imposed in black markets. B. changes the price and quantity only if it equals the equilibrium price. C. changes the price and quantity if it is set above the equilibrium price. D. changes the price and quantity if it is set below the equilibrium price. E. does not create a black market if it is set above the equilibrium price.
Answer:
C. changes the price and quantity if it is set above the equilibrium price.
Explanation:
A price floor is when the government or an agency of the government sets the minimum price of a good or service.
a price floor is binding if it is set above equilibrium price.
Calculate the latest start for Task B if its predecessor, Task A, finishes on day 3, its succeeding activity, Task E, has a latest start of day 7, and the duration of Task B is 2 days. Select one: a. day 7 b. day 5 c. Cannot be calculated based upon information given. d. day 3
Answer:
Day 5
Explanation:
Calculation of the latest start
Using this formula
Latest start = Activity's latest finish time-Activity's estimated duration
Where,
Latest Finish time= Day 7
Estimated Duration= 2 days
Let plug in the formula
Latest start= Day 7- 2 days
Latest start = Day 5
Therefore the latest start for Task B will be Day 5
A country has been in existence for only two years.
In the first year, receipts were $1.0 million and outlays were $1.5 million.
In the second year, receipts were $1.5 million and outlays were $2.0 million.
At the end of the second year, the government had issued debt worth______
Answer:
-1.0 million
Explanation:
the debt issued in the second year is equal to the sum of the excess of revenues over outlays
in year 1, debt = $1.0 million - $1.5 million = $-0.5 million
In year 2, debt = $1.5 million - $2.0 million = $-0.5 million
$-0.5 million + $-0.5 million = -1.0 million
5) In a building construction project, 7,500feet of insulated ductwork is required. The ductwork is made from 14-gauge steel costing $8.50 per pound. The 24-inch-diameter duct weighs 15 pounds per foot. Insulation for the ductwork costs $10 per foot. Engineering design will cost $16,000, and labor to install the ductwork will amount to $180,000. What is the total cost of the installed ductwork for this project?
Answer:
$1,227,250
Explanation:
Calculation for the total cost of the installed ductwork for this project
First step is to calculate the costs that have to be estimated based on unit technique for both material and insulation
Material: 7,500ft*15 lb/ft*$8.5/lb=$956,250
Insulation: 7,500ft *$10/ft=$75,000
The next step is to calculate for the Total cost
Engineering design cost $16,000,
Labor $180,000
Material $956,250
Insulation $75,000
Total cost $1,227,250
Therefore the Total cost of the installed ductwork for this project will be $1,227,250
What can students do with their recorded data in Science Journal?
A) Calculate the standard deviation of a set of data values
B) Review recorded graphs and individual data points
C) Make their data audible
D) Share and export experiments and sensor recordings
Answer:
B. Review recorded graphs and individual data points
C. Make their data audible
D. Share and export experiments and sensor recordings
Explanation:
The Science Journal application refers to the scientific journal at the digital platform that helps users to record projects using pictures, notes, and built-in sensors from the phone of the user. While setting up a new experiment it provides the opportunity to document one's thoughts and findings as he or she begins to ask queries and to come up with their own investigations. Its user-friendly features use sensors and recorders of telephones in an efficient way.
Winona contracted with XtremeCast, a broadcast media firm, to cohost an Internet-streaming sports program. Winona and XtremeCast signed a new contract for each episode. In each contract, Winona agreed to work a certain number of days for a certain salary. During each broadcast, Winona was free to improvise her performance. Was Winona an independent contractor? Why or Why not?
Answer: Yes. Winona was an independent contractor
Explanation:
Based on the analysis and the information that have been provided in the question, we can say that Winona was an independent contractor.
An independent contractor is an individual who works for someone else and gets paid for the work done by the employer but it should be noted that the person is not under the control of the employer. .An independent contractor is termed an agent and not employed by the company he or she is working for.
An investor purchases a stock for $52 and a put for $0.60 with a strike price of $50. The investor sells a call for $0.60 with a strike price of $58. What is the maximum profit and loss for this position
Answer:
Maximum profit = $6
Maximum loss = -$2
Explanation:
The computation of maximum profit and loss for this position is shown below:-
Maximum profit = Strike price - Purchase of stock
= $58 - $52
= $6
Maximum loss = Strike price - Purchase of stock
= $50 - $52
= - $2
Therefore for determining the maximum profit and loss for this position we simply applied the above formulas.
Giselle predicts that she will receive a grant for $4,000. If she has 4 years in which to save, what is the minimum monthly amount she should deposit in an interest bearing savings account to be able to pay her contribution for one year of college
Complete question :
Giselle used the table to predict the cost of one year of college.
Category
Estimated Cost 2017–2018
tuition
$12,450
room and board
$10,125
transportation
$2,600
books and fees
$2,250
other
$1,250
Giselle predicts that she will receive a grant for $4,000. If she has 4 years in which to save, what is the minimum monthly amount she should deposit in an interest bearing savings account to be able to pay her contribution for one year of college?
$400
$500
$600
$700
Answer: $600
Explanation:
Given the following college cost estimate:
Tuition - $12,450
room and board - $10,125
transportation - $2,600
books and fees - $2,250
other - $1,250
Total cost : Tuition + room and board + transportation + books and fees + others
$(12450 + 10125 + 2600 + 2250 + 1250) = $28,675
If Giselle has 4 years to save monthly ;
12 months = 1 year
(12 * 4) months = 4 years
48 months
Monthly saving = total cost / number of months
Monthly saving = $28,675 / 48
Monthly saving = $597.39583
= $ 600 (approximately)
C. $600
correct on edge 2021
Q 8.38: The financial statements of the Robertson Company report net sales of $400,000 and accounts receivable of $40,000 and $20,000 at the beginning of the year and end of year, respectively. What is the accounts receivable turnover for Robertson
Answer:
13.33 times
Explanation:
The computation of the accounts receivable turnover ratio is given below:
Account receivable turnover ratio = Net credit sales ÷ Average accounts receivable
where,
Net credit sales is $400,000
And, the Average accounts receivable would be
= (Accounts receivable, beginning of year + Accounts receivable, end of year) ÷ 2
= ($40,000 + $20,000) ÷ 2
= $30,000
So, the account receivable turnover ratio is
= $400,000 ÷ 30,000
= 13.33 times
Willis and Leslie orally agree to the sale of a parcel of land for $50,000: one-half payable now as a down payment; one-half payable in 30 days at the time of closing when the title will be transferred. The buyer, Willis, is to have possession immediately. Willis pays Leslie $25,000, takes possession of the land, and starts building a house. At the time of closing, the house is nearly completed. However, Leslie refuses to transfer the title, claiming the oral contract is not enforceable. This contract is:
Answer:
c. enforceable, because Willis has partially performed the oral contract and made improvements on the land.
Explanation:
Note: This question is not complete as it does not include the options. The complete question is therefore presented before answering the question as follows:
Willis and Leslie orally agree to the sale of a parcel of land for $50,000: one-half payable now as a down payment; one-half payable in 30 days at the time of closing when the title will be transferred. The buyer, Willis, is to have possession immediately. Willis pays Leslie $25,000, takes possession of the land, and starts building a house. At the time of closing, Willis has made a substantial beginning on the house. However, Leslie refuses to transfer the title, claiming the oral contract is not enforceable. This contract is:
a. enforceable, because the statute of frauds does not apply to this interest in land.
b. unenforceable, because there is no writing signed by Leslie.
c. enforceable, because Willis has partially performed the oral contract and made improvements on the land.
d. unenforceable, because the parol evidence rule applies.
The explanation to the answer is therefore given as follows:
An enforceable contract can be described as an oral or written agreement relating to employment, sales, or tenancy between two or more parties that can be imposed in a court of law.
If there is a permission by the law to enforce a contract, the obligation of the assenting parties to the contract is the execution of the agreement.
From the question, the contract is enforceable based on two facts: first, the contract is an oral agreement to the sale of a pacel of land between Wills and Leslie; and second, the oral contract has been executed to some extent by Will since he has made improvements on the land.
Therefore, the correct answer is option c. enforceable, because Willis has partially performed the oral contract and made improvements on the land.
How much potential money could be created from a new deposit of $2,000 and with a reserve ratio of 10%? How would it affect the ability of bank to create money if the reserve ratio decreased to 5%?
Answer:
To calculate the effect of the bank's ability to create money with a decrease in reserve ratio.
Given:
New deposits= $2000, Reserve ratio= 10 percent
To calculate the money multiplier= 1/10%= 1/0.1= 10
To calculate the money that was created we multiply the multiplier by the new deposits.
Therefore: 10*2000= $20,000
To calculate the amount created when the reserve ratio is 5%
To calculate the money multiplier= 1/5%= 1/0.05= 20
Therefore the money created will be 20*2000= $40,000
Based on $20000 extra gained, a decrease in the reserve ratio to 5% will lead to an increase in the capacity f the bank to make more money.
Explanation:
To calculate the effect of the bank's ability to create money with a decrease in reserve ratio.
Given:
New deposits= $2000, Reserve ratio= 10 percent
To calculate the money multiplier= 1/10%= 1/0.1= 10
To calculate the money that was created we multiply the multiplier by the new deposits.
Therefore: 10*2000= $20,000
To calculate the amount created when the reserve ratio is 5%
To calculate the money multiplier= 1/5%= 1/0.05= 20
Therefore the money created will be 20*2000= $40,000
Based on $20000 extra gained, a decrease in the reserve ratio to 5% will lead to an increase in the capacity f the bank to make more money.
Hector Company gathered the following reconciling information in preparing its March bank reconciliation: Cash balance per books, 3/31$12,000 Notes receivable collected by bank6,000 Outstanding checks9,000 Deposits in transit4,500 Bank service charge75 NSF check1,200 Using the above information, determine the adjusted cash balance for March. a.$7,500 b.$16,725 c.$15,500 d.$12,225
Answer: $16,725
Explanation:
Given the following :
Cash balance per books for March = $12,000
Notes receivable collected by banks = $6000
Bank service charge - $75
Non-sufficient fund (NSF) check - $1200
Therefore, Adjusted cash balance for March:
(balance per books + notes receivable - bank service charge - NSF check)
$(12,000 + 6,000 - 75 - 1200)
$(18000 - 1275)
= $16,725
Altacey, a multinational company that sells consumer durables, divides its target markets on the basis of the density of population in the areas it operates in. It employs more salesmen and spends more money on promotions in cities with high population densities. In the context of consumer market segmentation, which of the following types of market segmentation does Altacey most likely follow?
A. Psychographic segmentation
B. Behavioral segmentation
C. Customer-based segmentation
D. Geographic segmentation
The correct answer is D. Geographic segmentation
Explanation:
Segmentation is a common business strategy that implies considering customers according to different features such as location, cultural values, buying behavior, etc. and creating marketing plans based on this. In the case of geographic segmentation, this occurs if customers are considered according to location, for example by dividing the market or customers according to the city, state, country, etc. or according to population density. This second strategy is the one used by Altacey as the money, employees, products, and other factors are assigned based on density. Thus, the segmentation is geographic.
"ABC Corporation has declared a rights offering to stockholders of record on Friday, December 10th. Under the offer, shareholders need 10 rights to subscribe to 1 new share at a price of $19. Fractional shares can be rounded up to purchase 1 full share. As of the ex date, the stock is trading at $24. The value of the right is:"
Answer:
$0.50
Explanation:
Calculation for the value of the right
Based on the information given we were told that As of the ex date, the stock was trading at $24 which means that the market price of the amount of $24 have been adjusted on the ex date by the exchange where the stock trades.
Using this formula
Value of the right =(Trading stock- Price of shares to subscribe)/Right to subscribe
Let plug in the formula
Value of the right=($24-$19)/10
Value of the right÷$5/10
Value of the right=$0.50
Therefore the value of the right will be $0.50
On December 31, 2015, management had determined that it would not be able to collect the $1,200 owed to it by its customer Acme, Inc. On September 15, 2016, a check in the amount of $600 was unexpectedly received from Acme. Management does not expect any future collections from Acme. (The company uses the direct write-off method to account for its uncollectible accounts.) Prepare the necessary journal entry to record the events by selecting the account names and dollar amounts from the drop-down menus. (Use a compound entry instead of preparing two separate journal entries.)
Answer: Please see explanation column
Explanation:
Journal to record uncollectible accounts using the direct write-off method
Date Accounts Debit Credit
Dec 31, 2015 Bad debts expense $1,200
Accounts Receivable -Acme Inc $1,200
Compound Journal entry to record recovery using Direct write off method for the events
Date Accounts Debit Credit
Sep 15, 2016 Acct Receivable —Acme, Inc. $600
Bad Debt Expense $600
Cash $600
Account Receivable—Acme, Inc. $600
The capable project manager understands what motivates team members and creates a competitive environment in which individuals compete as part of a high-performing team and are required to excel.
a) true
b) false
Answer:
False.
Explanation:
The capable project manager understands what motivates team members and creates a competitive environment in which each individuals are impacted by the learning process and experiences as part of a high-performing team and are able to excel.
Ideally, a capable project manager should use the project work or activities as an opportunity to avail the team members with more knowledge, so that each of them becomes more experienced and competent than when they started.
Also, a project manager is a professional saddled with the responsibility of successfully planning, analyzing and execution of a project in an organization.
Ahmed emigrated from his war-torn country to the United States three years ago. Recently, he found a job working on an assembly line at an electronics manufacturer. When he came to the U.S., Ahmed left his friends and family behind. Now he is lonely and hopes that his fellow employees will accept him so that he can build some lasting friendships. According to Maslow, Ahmed is looking to satisfy his:_____________.
A) self-actualization needs.
B) safety needs.
C) physiological needs.
D) social needs.
Answer:
D) social needs
Explanation:
Based on the information given Ahmed is looking to satisfy his SOCIAL NEEDS.
Social needs occur in a situation where a person or an individual desire to have relationships or long lasting relationship with others because such person believe that his or her relationships with others will help him/her reduce their emotional concerns such as depression or fear of be alone, which is why SOCIAL NEEDS is important because it makes us desire to be loved and care for by others just as in the case of Ahmed who was looking to satisfy his SOCIAL NEEDS.
You have just been put in charge of a project that is already executing. While reviewing the project documentation, you discover that there is no WBS and you are approached by team members to add new components. You discover that there should be a WBS for the project. What is the BEST thing to do
Answer:
Stop project work and create the WBS, and don’t let work continue until it’s created
Explanation:
The WBS refers to the Work breakdown structure in which the work is divided into many parts so that it is easy for each one to work upon it as it does not the pressure for only one person. It's better to divide the work so that it would be completed within a prescribed time
Since in the given situation, as there is no WBS so for that first we have to stop the work after that the WBS should be created and only after the work is started that means until WBS no work will started
Hence, the b option is correct
Characteristics of a corporation include a.direct management by the shareholders (owners) b.shareholders who are mutual agents c.its inability to own property d.shareholders who have limited liability
Answer:
d.shareholders who have limited liability
Explanation:
A corporation is a legal entity that is separate from its owners. the owners are known as shareholders. the company is managed by a board of directors and not the shareholders. the liability of the owners are limited to the amount invested in the business.