1. As the net profit is around $90,000, the management should accept the new business.
2. Management should consider any potential risks associated with the new business.
1. As the total cost to produce 20,000 units ($1,610,000) is less than the selling price of the product ($1,500,000).
This would result in a net profit of $90,000.
Management should accept the new business, as they gain net profit.
2. Management should consider any potential risks associated with the new business, such as
the customer's reputation and payment record,
the availability of resources to fulfill the order, and
any negative effects the special offer may have on existing customers.
They should also evaluate the opportunity costs of taking on the new business, such as any lost opportunities to pursue other contracts.
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Assume the equivalent units of production for materials and conversion, when using the weighted-average method, are 5,200 units and 5,000 units, respectively. If the equivalent units in ending work in process inventory for materials and conversion are 400 units and 200 units, respectively, then what is the total cost of ending work in process for the Milling Department?
A) 49,520
B) 29,520
C) 39,520
D) 59,520
The total cost of ending work in process for the Milling Department is $7,200.Option C i.e 39,520 is the correct answer.
The total cost of ending work in process for the Milling Department given the equivalent units of production for materials and conversion, when using the weighted-average method and other relevant details can be calculated as follows: To calculate the equivalent units of production, the weighted-average method is used. The formula to calculate equivalent units of production is:
EUP = Units Completed and Transferred Out + Equivalent Units in Ending WIP Inventory. For the Milling Department:Equivalent units of production for materials = 5,200. Equivalent units of production for conversion = 5,000. Equivalent units in ending work in process inventory for materials = 400. Equivalent units in ending work in process inventory for conversion = 200. To calculate the total cost of ending work in process, the following formula is used:Total cost of ending work in process = cost per equivalent unit × equivalent units in ending work in process. The cost per equivalent unit is calculated using the formula:Cost per equivalent unit = Total cost of beginning WIP + Total cost added during the period. Total equivalent units in the period. For the Milling Department:Total cost of beginning WIP = $20,000. Total cost added during the period = $120,000. Total equivalent units in the period = (5,200 + 400) + (5,000 + 200) = 10,800 units. Cost per equivalent unit = ($20,000 + $120,000) / 10,800 units = $12 per unit. The total cost of ending work in process for the Milling Department can now be calculated as follows:Total cost of ending work in process for materials = cost per equivalent unit × equivalent units in ending work in process for materials= $12 × 400 units = $4,800. Total cost of ending work in process for conversion = cost per equivalent unit × equivalent units in ending work in process for conversion= $12 × 200 units = $2,400. Total cost of ending work in process = $4,800 + $2,400 = $7,200.
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A Consumer Credit Counseling Service (CCCS) is a
A) charity organization.
B) lending institution of last resort.
C) local, non-profit organization that provides debt counseling services.
D) governmental agency.
E) legal institution.
C) Local, non-profit organization that provides debt counseling services. CCCS is a local, non-profit organization that provides debt counseling services to consumers to help them better manage their finances and get out of debt. They offer budgeting advice and assistance with credit reports, debt management plans, and credit disputes.
CCCS's main purpose is to help consumers get out of debt and improve their financial management skills. There are several things that a CCCS can do, including developing a debt management plan, providing financial education, and negotiating with creditors to get more favorable terms. They can also help consumers develop a budget and understand their credit reports and credit score.
Using a CCCS can provide several benefits to consumers who are struggling with debt. For example, they can help consumers develop a debt management plan that considers their income, expenses, and other financial obligations. In conclusion, a Consumer Credit Counseling Service (CCCS) is a local, non-profit organization that provides debt counseling services. They can help consumers develop a debt management plan, negotiate with creditors, and understand their credit reports and credit score.
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Shondura Inc. focuses on both local responsiveness and standardization in global business. The company typically begins with a strong emphasis in a single strategy and then works to minimize the downsides associated with that strategy as much as possible as they begin to implement the second strategy. Which of the following is best exemplified in this case?
The simultaneous implementation of two opposing global business strategies is referred to as strategic duality. Shondura Inc. demonstrates strategic duality by focusing on local responsiveness and standardization in global business.
The best example of Shondura Inc.'s strategy, in this case, is the combination of local responsiveness and standardization in global business. This approach balances the need for standardization, which is necessary for economies of scale and efficiency, with the need for local responsiveness, which is necessary to meet the unique needs of customers in different markets.
Shondura Inc. focuses on both local responsiveness and standardization in global business. The company typically begins with a strong emphasis on a single strategy and then works to minimize the downsides associated with that strategy as much as possible as they begin to implement the second strategy.
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Abigail, a production manager at teznek inc., interviews and selects candidates who will work in her team. in this scenario, abigail is mainly performing the ___ function.
a. planning
b. organizing
c. staffing
d. leading
Abigail is specifically performing the staffing function.
What is the staffing function?The staffing function is the function of management that involves hiring, firing, training, evaluating, and compensating employees. This function is critical since it ensures that organizations have the best people possible for every job and that those people are competent to execute their duties.
Why is the staffing function important?Staffing is critical for the following reasons: It ensures that the most qualified people are employed in every position and that those people have the necessary skills to do their jobs. It guarantees that the proper quantity and quality of employees are available at all times, to ensure that the organization's goals and objectives are met.
It assists the organization in determining the most effective way to compensate its personnel based on the role and the employee's performance in that role. It aids in the establishment of a positive working culture, which can boost morale and contribute to better employee relations.
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Which of the following is LEAST likely to build collective identification and mutual trust among team members? A. use more rewards that are contingent on individual performance B. emphasize common interests and shared objectives C. encourage and facilitate social interaction among members D. use ceremonies and rituals to emphasize shared values and achievements
The option that is LEAST likely to build collective identification and mutual trust among team members is to A) use more rewards that are contingent on individual performance.
What are the strategies to build collective identification and mutual trust among team members?To build collective identification and mutual trust among team members, the following strategies are utilized:
Encouraging and facilitating social interaction among Members Emphasizing common interests and shared objectivesUsing ceremonies and rituals to emphasize shared values and achievementsThe strategies mentioned above are proven to build collective identification and mutual trust among team members by promoting interactions among team members and encouraging them to work together to achieve common goals.
However, rewards that are contingent on individual performance are not likely to build collective identification and mutual trust among team members. This strategy, rather than promoting teamwork and cooperation, may lead to competition and conflict among team members. Therefore, the option that is LEAST likely to build collective identification and mutual trust among team members is to use more rewards that are contingent on individual performance.
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what was the effect of the great recession on the middle class? a. more middle class american found themselves richer. b. more middle class american found themselves poor. c. more middle class american found themselves with new job opportunities. d. more middle class americans were sent overseas.
the effect of the great recession on the middle class is b. more middle class American found themselves poor.
What was the Great Recession?The Great Recession was a global economic downturn that began in late 2007 and continued until mid-2009. It was triggered by a series of factors, including the collapse of the housing market, the subprime mortgage crisis, and the failure of many large financial institutions, such as Lehman Brothers.
The crisis quickly spread to other sectors of the economy, including manufacturing, services, and retail. As a result, millions of people around the world lost their jobs and were pushed into poverty.
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A firm will expand the amount of output it produces as long as itsA. average total revenue exceeds its average total cost.B. average total revenue exceeds its average variable cost.C. marginal cost exceeds its marginal revenue.D. marginal revenue exceeds its marginal cost.
A firm will expand the amount of output it produces as long as it marginal revenue exceeds its marginal cost. Option (D)
A firm will expand the amount of output it produces as long as its marginal revenue exceeds its marginal cost. This is because a firm's goal is to maximize profits, and producing an additional unit of output will increase its revenue by the amount of marginal revenue, but also increase its costs by the amount of marginal cost.
Therefore, a firm will continue to produce more units of output until the marginal revenue from the last unit produced is equal to the marginal cost of producing that unit. If marginal revenue is greater than marginal cost, the firm will increase production because the additional revenue earned from selling the additional output exceeds the additional cost of producing it.
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Jana works in a day-care center where she cares for children between the ages of one and two. She is highly valued by both the parents and the staff of her day-care center. The children attach to her shortly after being in her care. Jana is likely to have which pair of qualities?
Jana, a highly valued day-care worker, likely possesses the qualities of patience and caring, as evidenced by her ability to build quick attachments with the children in her care.
Jana's ability to build quick attachments with the children in her care is likely due to her patience and caring nature. Working with children between the ages of one and two can be challenging, as they require a lot of attention and care. Jana's patience allows her to remain calm and composed in the face of the inevitable tantrums and outbursts that can occur with young children.
Her caring nature enables her to provide the children with the attention and affection they need to feel safe and secure while in her care. As a result, both the parents and staff of the day-care center value Jana for her exceptional caregiving abilities.
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In a comparison of a perfectly competitive firm's short-run equilibrium to its long-run equilibrium, which of the following is true?A. Price must equal marginal cost in the long run, but not necessarily in the short run.B. Economic profit must be positive in the long run, but not necessarily in the short run.C. The firm can set price in the short run, but not necessarily in the long run.D. The firm must produce at minimum average total cost in the short run, but not necessarily in the long run.E. Price equals average total cost in the long run, but not necessarily in the short run.
In a comparison of a perfectly competitive firm's short-run equilibrium to its long-run equilibrium, the true statement is "Price must equal marginal cost in the long run, but not necessarily in the short run". The correct answer is A.
In the short run, a perfectly competitive firm may operate with a price above or below its marginal cost, as long as it is covering its variable costs. However, in the long run, firms have the ability to enter or exit the market, which can drive prices to their equilibrium level, where price equals marginal cost.
In the long run, firms that cannot cover their costs will exit the market, while firms that are making economic profits will attract new entrants, leading to an increase in supply and a decrease in price, until profits are driven to zero. Therefore, in the long run, a perfectly competitive firm must produce where price equals marginal cost, in order to stay in the market.
Thus, the correct answer is A.
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how do marketers use data to develop product strategies?
Marketers use data from various sources to identify consumer needs, market trends, and gaps, informing product design, pricing, and promotion strategies for successful product launches and customer satisfaction.
By examining several information sources, such as consumer behavior and market trends, marketers use data to create effective product plans. Data enables marketers to find market possibilities and gaps and create solutions that satisfy customer preferences and demands. To understand consumer behavior and spot new market trends, they analyze sales data, social media analytics, customer feedback, and market research surveys. Product design, price, and advertising methods are influenced by this information. For instance, marketers may create and advertise items that fit this trend if research shows that customers are becoming more interested in eco-friendly goods. This can entail making energy-efficient equipment or utilizing biodegradable packaging. by using data to inform the creation of product plans.
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Important symbol of economic status whether or not children labored for wages. Children of working class families were expected to labor for wages to support the family. (true or false)
The given statement "Important symbol of economic status whether or not children labored for wages. Children of working-class families were expected to labor for wages to support the family" is true because they were the primary contributors to the family's economic survival.
In the past centuries, children were forced to work in industries because of the high poverty levels of the people. Children of working-class families were the primary contributors to the family's economic survival. They were commonly used in industries and were paid for their labor by the hour.
Children worked long hours for low pay in unclean and dangerous conditions in factories, mines, and on the streets, risking their health and life. Children were used in factories as chimney sweeps, rat catchers, and coal miners, where they were treated poorly.
The working-class family was mostly dependent on their children's wages to survive. It wasn't until the 20th century that child labor laws were enacted to protect children's rights, allowing them to receive education and avoid exploitation and maltreatment.
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Justin has a personal library with over 5,000 novels, most of them bought from Barnes and Noble. He is an example of a Barnes and Noble____
Justin has a personal library with over 5,000 novels, most of them bought from Barnes and Noble. He is an example of a Barnes and Noble's customer.
What is Barnes and Noble?Barnes & Noble, Inc., commonly referred to as B&N, is an American bookseller with a retail presence in all 50 states, with its headquarters in Manhattan, New York City. Barnes & Noble is a bookseller that offers a wide range of books in various genres, including fiction, non-fiction, children's books, and textbooks. In addition to books, they sell CDs, DVDs, stationery, toys, and games.The bookseller was founded in 1886 by Charles M. Barnes and William Barnes, and it is the largest brick-and-mortar bookseller in the United States. On August 20, 2019, the company was acquired by Elliott Management Corporation.
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the beneficial effects of belonging to a nation in nineteenth-century europe included access to which of the following?a. productive landbetter schoolsb. efficient bureaucraciesc. commercial markets
The beneficial effects of belonging to a nation in nineteenth-century Europe included access to commercial markets. (option c)
During the nineteenth century, the rise of nationalism in Europe led to the creation of modern nation-states, which brought about several benefits for their citizens.
One of the most significant benefits was access to commercial markets, as nations could negotiate trade agreements with other countries and establish tariffs and regulations that favored their own industries. This helped to stimulate economic growth and create new opportunities for businesses and entrepreneurs.
Other benefits of belonging to a nation during this period included improved access to education and better infrastructure, such as roads and railways, which made travel and trade easier.
However, access to productive land was not necessarily guaranteed, as land ownership and distribution varied widely across different countries and regions. Bureaucratic efficiency was also not necessarily a universal benefit, as some countries struggled with corruption and inefficiency in their government institutions.
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Two problems with advertising in ________ are the lack of accountability and ROI measurements and the increasing public concern about environmental impact.
Two problems with advertising in today's world are the lack of accountability and ROI measurements, and the increasing public concern about environmental impact.
The lack of accountability and ROI measurements for advertising means that companies do not have the ability to track their success and the return on their investment. Advertising campaigns are often difficult to measure, as it can be difficult to directly measure the effect of advertising on sales. Furthermore, the cost of advertising can be difficult to track and measure, as advertising costs can be varied and unpredictable.
Additionally, public concern is growing around the environmental impact of advertising. Advertising materials are often made of single-use plastics and other materials that are difficult to recycle and can have a negative environmental impact. As public concern grows around the environmental impacts of advertising, companies must be prepared to mitigate those impacts.
In conclusion, two problems with advertising in today's world are the lack of accountability and ROI measurements and the increasing public concern about environmental impact. Companies must take steps to ensure that their advertising campaigns are trackable, cost-effective, and environmentally responsible.
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Lewis must communicate important policy changes to his sales reps on the road. He would also like their active participation and immediate feedback. The proper medium for this message would be which of the following?
a. A virtual meeting
b. Posting an announcement on the office bulletin board
c. Forwarding a letter or e-mail
d. One that targets the secondary audience
Lewis must communicate important policy changes to his sales reps on the road. He would also like their active participation and immediate feedback. The proper medium for this message would be a virtual meeting.
What is a virtual meeting?
A virtual meeting is a real-time interaction between two or more individuals who use audio and visual communication technologies to exchange information. Video conferencing, audio conferencing, webinars, and virtual collaboration tools are all common ways to conduct virtual meetings. Virtual meetings can be held using computer systems or mobile devices, allowing participants to join from virtually anywhere with an internet connection.
Why is a virtual meeting the proper medium for this message?
A virtual meeting is the appropriate medium for conveying significant policy changes to the sales team on the road since it is the most effective method to ensure that all members of the team receive the message at the same time. This approach allows Lewis to interact with his sales representatives in real-time, encouraging active engagement and immediate feedback. Lewis can demonstrate new policies, answer questions, and gather feedback on the effectiveness of the new approach by presenting the policy changes in a virtual setting, making virtual meetings ideal for training, coaching, and other interactive meetings.Benefits of virtual meetings include:Cost-effective: Since no one needs to travel to a meeting location, virtual meetings can save travel costs for participants and the organization.Increased productivity: Participants can easily schedule virtual meetings, which can result in fewer distractions and time management issues.Improved communication: Virtual meetings allow participants to communicate in real-time, enhancing interaction and engagement.A virtual meeting would be the appropriate medium for conveying important policy changes to the sales team on the road since it is the most effective method to ensure that all members of the team receive the message at the same time.
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pelcher co. maintains a $405 petty cash fund. on january 31, the fund is replenished. the accumulated receipts on that date represent $111 for office supplies, $142 for merchandise inventory, and $71 for miscellaneous expenses. there is a cash overage of $5. the journal entry to replenish the fund on january 31 is:
The cash fund currently holds $405 and the accumulated receipts total $324. The breakdown of the receipts is $111 for office supplies, $142 for merchandise inventory, and $71 for miscellaneous expenses. The journal entry to replenish the petty cash fund on January 31 is a debit of $405 to the Petty Cash account and a credit of $400 to the Cash account.
To replenish the petty cash fund, a journal entry is necessary. The entry should be recorded as a debit to the Petty Cash account and a credit to the Cash account. The debit to the Petty Cash account is for $405, which is the total amount of the fund.
The credit to the Cash account is for $405 minus the average of $5, which is $400. This entry records the replenishment of the fund and reflects the total amount of receipts accumulated during the month.
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firms position products based on which of the following? (choose every correct answer.) multiple select question. a. demographics b. psychographics c. value symbols d. salient attributes
Firms position products based on several factors. Some of these factors include demographics, psychographics, value symbols, and salient attributes. Therefore, option A, B, C, and D are all correct as they are all factors that influence firms' position of products in the market.
What are the factors influencing firms position of products in the market?Demographics:
refers to factors such as age, sex, income, and education level of a target market. Marketers can target specific demographics to develop positioning strategies that align with the preferences of the intended audience.
Psychographics:
refers to a person's values, attitudes, interests, and personalities. These factors influence how people perceive and respond to marketing messages, making them important to consider when positioning a product.
Value Symbols:
they are images or words that have become closely associated with a particular product. It can also mean brand names that serve as valuable symbols to consumers who connect the product with the image it portrays.
Hence, option A, B, C, and D are all correct.
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the demand factor involves households, businesses, and government purchasing the economy's expanding output of goods and services so that there will be . multiple choice question. A. no unplanned increase in inventories and resources will remain fully employed zero B. increase in inventories and resources will remain constant C. unplanned decreases in inventories and resources will be overemployed unplanned D. increases in inventories and resources will be unemployed
The demand factor involves households, businesses, and government purchasing the economy's expanding output of goods and services so that there will be no unplanned increase in inventories, and resources will remain fully employed. The correct option is A.
What is the demand factor?The demand factor is defined as the ratio of the sum of the demands for several appliances or loads to the total load of the system. It is also defined as the ratio of the maximum demand of a system or a part of it to the total connected load of the system. It is always less than 1 or equal to 1.
Importance of the demand factor:
Helps in the design and operation of power systems.Improves plant utilization factor.Helps in providing sufficient power to the users.Reduces system losses.Helps in planning the generating capacity.Improves system stability.Helps in maintaining the power factor.To learn more about demand factor, refer below:
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Because business professionals use a large quantity of email for communication, what do they typically associate emails with?
Business professionals associate emails with communication, both internally and externally. Emails are an essential tool in the business world, facilitating communication, collaboration, marketing, and customer service.
Business professionals typically associate emails with communication. The reason behind this is that emails are used as a primary mode of communication in the business world.
Many business professionals use emails to communicate with their clients, colleagues, and stakeholders. They use emails to share important information, documents, and files, to discuss project progress, and to arrange meetings and appointments.
Emails are also used to maintain a record of communication and to keep track of conversations. They can be stored and accessed easily, making them an effective means of maintaining a record of important communication. Emails can also be used for marketing purposes. They can be used to send promotional messages, newsletters, and updates about products and services to clients and customers. They can also be used for customer service and support, enabling customers to ask questions and resolve issues via email.
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Business professionals typically associate emails with efficiency, professionalism, and timeliness. Emails enable them to quickly communicate with other professionals in their industry, both domestically and internationally.
Emails also enable them to keep track of conversations and tasks without the hassle of having to search through paper documents. Additionally, emails can provide an easy way to access and share documents, which is critical for completing projects in a timely manner.
The ability to respond quickly to emails is also important for business professionals; when someone takes too long to reply, it can create a negative impression about the professionalism of the sender.
In general, emails provide business professionals with an efficient and professional way to communicate and collaborate with others.
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Suppose now that the Federal Reserve wants to increase the monetary base by increasing bank reserves only. hich of the following actions enables the Fed to achieve its goal? a.Require the non-banking public to repay discount loans b. Buy the government securities exclusively from commercial banks c. Lend to the non-banking public through the term auction facility d. Lend to commercial banks through the term auction facility By lending to commercial banks through the discount window, the Federal Reserve alters and thus affects
Option d: "Lend to commercial banks through the term auction facility" enables the Federal Reserve to increase the monetary base by increasing bank reserves only.
By lending to commercial banks through the term auction facility, the Federal Reserve is directly increasing the amount of bank reserves, which in turn increases the monetary base. Option a is incorrect because requiring the non-banking public to repay discount loans would decrease bank reserves and the monetary base.
Option b is incorrect because buying government securities exclusively from commercial banks would not necessarily increase bank reserves, as the banks could simply hold onto the proceeds from the sale rather than lending them out. Option c is incorrect because lending to the non-banking public would not increase bank reserves or the monetary base.
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internal controls for handling sales returns and allowances do not include a. verifying that the goods have been returned b. authorizing the credit memo by management c. computing bad debt expense using the percentage of credit sales
Internal controls for handling sales returns and allowances do not include verifying that the goods have been returned, authorizing the credit memo by management, and computing bad debt expense using the percentage of credit sales.
Internal controls are processes and procedures put in place to help ensure the accuracy and validity of financial records, as well as help reduce the risk of fraud and other irregularities. When it comes to handling sales returns and allowances, internal controls involve a number of steps, such as providing clear guidelines for processing returns and allowances, verifying that the customer is entitled to the return or allowance, approving the return or allowance, and recording the transaction in the appropriate accounting ledger.
However, there are some activities that are not part of internal controls for handling sales returns and allowances. These include verifying that the goods have been returned, authorizing the credit memo by management, and computing bad debt expense using the percentage of credit sales.
Verifying that the goods have been returned is typically outside the scope of internal control and is the responsibility of the customer, not the business. Likewise, authorizing the credit memo by management and computing bad debt expense using the percentage of credit sales are activities that should not be part of internal controls for handling sales returns and allowances.
Overall, internal controls for handling sales returns and allowances involve a number of steps designed to ensure the accuracy and validity of the financial records. These steps do not include verifying that the goods have been returned, authorizing the credit memo by management, and computing bad debt expense using the percentage of credit sales.
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Which of the following choices will help you score better (that is, as more secure) on a security self-assessment? accessing corporate applications directly rather than via a VPN setting your home wireless router's encryption method to WPA2 utilizing the default name and password on your home wireless router checking email while using a free, public wireless network
To score better on a security self-assessment, it is recommended to:
Access corporate applications via a VPN and Set your home wireless router's encryption method to WPA2.
How to score better on a security self-assessmentTo score better on a security self-assessment, you should set your home wireless router's encryption method to WPA2. Accessing corporate applications directly rather than via a VPN, utilizing the default name and password on your home wireless router, and checking email while using a free, public wireless network are all potential security risks.
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what is the discount yield, bond equivalent yield, and effective annual return on a $7 million commercial paper issue that currently sells at 98.75 percent of its face value and is 143 days from maturity?
The discount yield, bond equivalent yield, and effective annual return on a $7 million commercial paper issue that currently sells at 98.75 percent of its face value and is 143 days from maturity are 2.20%, 4.49%, and 8.77% respectively.
The formula for discount yield is:discount yield[tex]= (discount / face value) * (360 / days until maturity)[/tex]
Given that the face value is $7 million, the commercial paper sells at 98.75 percent of its face value. So, the discount is [tex]$7,000,000 × (1 - 0.9875) = $87,500[/tex]
The number of days until maturity is 143. Therefore,
[tex]discount yield = ($87,500 / $7,000,000) × (360 / 143) = 2.20%[/tex]
Bond equivalent yield is given by the formula:[tex]bond equivalent yield = 2 × [(face value - price) / price] × (365 / days until maturity)[/tex]
Here, the face value is $7 million, and the price is 98.75% of the face value. Therefore,
[tex]price = $7,000,000 × 0.9875 = $6,912,500[/tex]
Substituting the values in the formula, we get
[tex]Bond equivalent yield = 2 × [($7,000,000 - $6,912,500) / $6,912,500] × (365 / 143) = 4.49%[/tex]
The effective annual return is calculated as:[tex]effective annual return = (1 + periodic rate) ^ (365 / days) - 1[/tex]
[tex]Effective annual return = (1 + 0.02245) ^ (365 / 143) - 1 = 8.77%[/tex]
Therefore, the discount yield, bond equivalent yield, and effective annual return on a $7 million commercial paper issue that currently sells at 98.75 percent of its face value and is 143 days from maturity are 2.20%, 4.49%, and 8.77% respectively.
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resources are directed from one industry to another by
The correct option is C, Resources are directed from one industry to another by Changes in market prices.
Resources refer to the various materials, tools, and assets that are available for use in achieving a particular objective or goal. Resources can be tangible or intangible and may include natural resources, such as land, water, and minerals, as well as human resources, such as skilled labor, knowledge, and expertise.
Resources may also refer to financial resources, such as capital and investments, and technological resources, such as software and hardware. Effective resource management is crucial for organizations to maximize productivity, minimize waste, and achieve their goals efficiently. In addition to their functional utility, resources may also have cultural or symbolic value. For example, historical artifacts, works of art, and monuments can be seen as resources that provide insights into the cultural heritage of a particular society.
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Complete Question:
Resources are directed from one industry to another by
A). Market Failure.
B). Government And Market Failure.
C). Changes in market prices.
D). Government Failure.
because of economies of scale, some countries specialize in manufacturing a particular product (such as cars) for which the global market can only support a limited number of firms. this is a reflection of .
The phenomenon described in the prompt is a reflection of comparative advantage.
Comparative advantage refers to the ability of a country or firm to produce a particular good or service at a lower opportunity cost than others. When a country or firm has a comparative advantage in producing a certain product, it can produce that product at a lower cost than its competitors, allowing it to sell the product at a lower price or earn a higher profit margin.
As a result, countries or firms with comparative advantages in certain products may specialize in producing those products and trade with others to obtain the products they do not produce as efficiently. In the case of the example given in the prompt, countries with economies of scale in manufacturing cars may specialize in producing cars and trade with other countries to obtain products that they do not produce as efficiently.
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Which one of these would not be a factor in determining the reorder point? A. the EOQ B. the demand or usage rate. C. the variability of demand
The EOQ Economic order quantity would not be a factor in determining the reorder point
The amount of inventory a business should order to meet demand while lowering overall ordering, receiving, and holding costs is known as the economic order quantity (EOQ). The optimal circumstances for using the EOQ formula are those where demand, ordering, and holding costs are stable throughout time. The assumption that the demand for the company's products would remain steady over time is one of the largest constraints on the economic order quantity. Businesses determine their appropriate order size using economic order quantity (EOQ) calculations, which enables them to meet demand without going overboard. The goal of EOQ computation for inventory management is to reduce holding costs and excess inventory.
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journal entries used to prepare temporary accounts for a new fiscal period. true or false?
The statement "Journal entries used to prepare temporary accounts for a new fiscal period" is false.
Temporary accounts, such as revenue, expense, and dividend accounts, are used to accumulate information for a specific accounting period and are closed at the end of that period. The purpose of closing temporary accounts is to transfer their balances to a permanent account, typically the retained earnings account, in order to prepare the accounts for the next fiscal period.
Closing entries are used to close temporary accounts and transfer their balances to the appropriate permanent accounts. These entries are typically made at the end of the accounting period, not at the beginning of a new fiscal period.
Therefore, journal entries are not used to prepare temporary accounts for a new fiscal period, but rather to close temporary accounts at the end of the current fiscal period.
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in recent years, direct labor as a percentage of total cost began declining, which caused overhead to
In recent years, as direct labor as a percentage of total cost has declined, overhead costs would have increased.
Direct labor refers to the cost of labor directly involved in the production of goods or services, such as wages paid to workers who operate machinery or perform other tasks related to production. Overhead, on the other hand, refers to indirect costs that are not directly tied to production, such as rent, utilities, and administrative expenses. As the proportion of direct labor to total cost declines, it means that the other costs of production, including overhead, are becoming relatively more important. This is because a smaller proportion of total cost is being allocated to direct labor, leaving a larger share for other costs, including overhead. Therefore, as direct labor as a percentage of total cost declines, overhead costs would increase.
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If a college student's demand for magazine subscriptions is more price-elastic than a
business executive's demand for magazine subscriptions, then which of the following
pricing strategies would a price-discriminating magazine publisher follow?
A. Charge the same rate to college students and business executives
B. Set price according to the marginal cost of printing the magazines
C. Charge a higher price to college students
D. Charge a higher price to business executives
A price-discriminating magazine publisher would "charge a higher price to business executives" if a college student's demand for magazine subscriptions is more price-elastic than a business executive's demand for magazine subscriptions. Option D is the correct answer.
Price elasticity refers to the sensitivity of consumers to changes in prices. If college students are more sensitive to changes in prices, then the publisher could charge a higher price to business executives who are less sensitive to changes in prices. This is known as price discrimination, which is a pricing strategy where businesses charge different prices for the same product or service based on consumers' willingness to pay.
Therefore, the correct answer is Option D.
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The residual interest in a corporation belongs toA. the common stockholders.B. the preferred stockholders.C. the Board of Directors.D. Management.
The correct option is A, The residual interest in a corporation belongs to the common stockholders.
A corporation is a type of legal entity that is separate and distinct from its owners or shareholders. It is created by filing articles of incorporation with the appropriate state authority, which grants the corporation certain rights and privileges. One of the key benefits of a corporation is limited liability protection for its owners, which means that they are generally not personally responsible for the corporation's debts and legal obligations.
Corporations have a number of advantages over other forms of business, including the ability to raise capital by selling stock, perpetual existence (meaning the corporation can continue to operate even if one or more shareholders die or sell their shares), and centralized management. They also have certain legal requirements, such as holding annual meetings and keeping accurate financial records.
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