D) $0. Coverage C excludes coverage for credit cards. Coverage C under a dwelling policy provides insurance for the insured's personal property that is located on the described premises.
Credit cards and ATM cards are not considered personal property under this coverage and are excluded from coverage. The insured would need to look to their credit card company or bank for any potential coverage for the missing cards. The most complete home fire coverage is provided by the DP-3 type. Real property (houses and other buildings) will be insured for all sorts of damage under this "open perils" or "all risk" insurance, with the exception of exclusions specified in the policy.
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Aggregate Demand and Supply: Around the World Myanmar's transition to a democratic nation in 2012 has had significant impact on aggregate demand in the country. Each of the events described leads to a change in one component of aggregate demand. Move each item to the appropriate category, depending on which component is affected. Consumption Investment:
Government spending :
Net Exports:
Answer Bank Government-run schools have received increased levels of funding. Increases in property values have led to an increase in wealth for individuals in Myanmar. Government deregulation has made businesses more optimistic about the future. Thousands of tourists have entered Myanmar, spending money at local restaurants and shops. New jobs have been created, increasing consumer confidence about the future of the economy. Programs have been initiated by the government to build infrastructure, such as roads and bridges, in Myanmar. Access to capital has made it easier for businesses to expand their operations.
The World Myanmar's transition to a democratic nation in 2012 has had significant impact on aggregate demand in the country:
- Increases in property values have led to an increase in wealth for individuals in Myanmar.
- Thousands of tourists have entered Myanmar, spending money at local restaurants and shops.
- New jobs have been created, increasing consumer confidence about the future of the economy.
Investment:
- Government deregulation has made businesses more optimistic about the future.
- Access to capital has made it easier for businesses to expand their operations.
Government spending:
- Government-run schools have received increased levels of funding.
- Programs have been initiated bythe World Myanmar's transition to a democratic nation in 2012 has had significant impact on aggregate demand in the country to build infrastructure, such as roads and bridges, in Myanmar.
Net Exports:
(None of the given events directly impact net exports)
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The AICPA code of professional conduct includes which sections?
a) Preface, rules and interpretations applicable to members in tax practice, and rules and interpretations applicable to member in business.
b) Preface, rules and interpretations applicable to members in tax practice, and rules and interpretations applicable to members in audit practice.
c) Preface, rules and interpretations applicable to members in public practice and rules and interpretations applicable to members in business.
d) Preface, rules and interpretations applicable to members in audit practice, and rules and interpretations applicable to members in business.
The AICPA Code of Professional Conduct includes the following sections: Preface, rules and interpretations applicable to members in public practice, and rules and interpretations applicable to members in business. Therefore, the correct answer is option (c).
The Preface sets the foundation for the Code by providing an overview of the principles and rules that govern the professional conduct of AICPA members. It highlights the importance of integrity, objectivity, and professional competence among other ethical values.The rules and interpretations applicable to members in public practice are tailored to address the unique challenges faced by CPAs who provide services to clients, including audit, tax, and advisory services.
These rules cover topics such as independence, integrity, objectivity, and due care, as well as specific guidance for different types of engagements.The rules and interpretations applicable to members in business are designed for CPAs working within an organization, such as in management or financial reporting roles. These rules focus on ethical behavior and professional responsibilities in the context of an employer-employee relationship.
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which of the following money market instruments has the lowest rate? a. 1-month cds b. the prime rate c. 4-week treasury bills d. eurodollars
Out of the options given, the money market instrument with the lowest rate is the 4-week treasury bills. Option C is correct.
4-week Treasury bills have the lowest rate among the given options because they are short-term debt securities issued by the US government with a maturity of four weeks and are considered to be one of the safest investments in the world, resulting in a lower yield.
On the other hand, 1-month CDs (certificate of deposit) are also short-term, but they typically offer higher yields than 4-week Treasury bills because they are issued by banks, not the government.
The prime rate is an interest rate that commercial banks charge their most creditworthy customers and is usually higher than the Treasury bill rate. Eurodollars are time deposits denominated in US dollars but held outside the US, and their interest rates are influenced by a variety of factors, including US monetary policy and global demand for dollars, making their rates highly volatile and not comparable to Treasury bills.
Option C holds true.
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Unlike entrepreneurs, self-employed people tend to Multiple Choice o hire people who will work with them to implement their vision for the company o stay in one geographic area. o seek to influence markets, Industries, and large numbers of people o delegate responsibilities to people they trust, who are smarter than and more experienced than they are in particular areas. o take the risks necessary to grow the business and make an impact on society
Self-employed people tend to stay in one geographic area, rather than seeking to influence markets, industries, and large numbers of people like entrepreneurs do. They may hire people who will work with them to implement their vision for the company, but they are more likely to delegate responsibilities to people they trust, who are smarter than and more experienced than they are in particular areas. While they take risks necessary to grow their business and make an impact on society, it may not be at the same scale as entrepreneurs.
Unlike entrepreneurs, self-employed people tend to delegate responsibilities to people they trust, who are smarter and more experienced in particular areas. As self-employed individuals are often sole proprietors or small business owners, they may not have the resources or capacity to hire a large team. Therefore, they rely on delegation and outsourcing to individuals or contractors who can bring expertise to specific tasks or functions. Self-employed individuals may also prefer to stay in one geographic area or have a smaller scale of operation compared to entrepreneurs who may seek to influence markets, industries, and large numbers of people. While both entrepreneurs and self-employed individuals take risks, self-employed individuals may have a more conservative approach to business growth and impact on society.
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The overall objective in the determination of a transfer price is toA. maximize the return of the selling division.B. minimize the return of the selling division.C. minimize the cost to the purchasing division.D. maximize the return to the whole company.
Answer:
hope it helps:)
[tex]The \: overall \: objective \: in \: \\ the \: determination \: of \: a \\ transfer \: price \: is \: to \\D. \: maximize \: the \: return \: to \\ the \: whole \: company.[/tex]
Corporation manufactures and sells 50-inch television sets and uses standard costing. Actual data relating to January, February, and March 2017 are as follows: The selling price per unit is $3,300. The budgeted level of production used to calculate the budgeted fixed manufacturing cost per unit is 1,500 units. There are no price, efficiency, or spending variances. Any -production-volume variance is written off to cost of goods sold in the month in which it occurs. 1. Prepare income statements for EntertainMe in January, February, and March 2017 under (a) variable costing and (b) absorption costing. 2. Explain the difference in operating income for January, February, and March under variable costing and absorption costing.
(a) Variable Costing Income Statements:
January 2017:
Sales Revenue: (2,000 units x $3,300) = $6,600,000
Variable Cost of Goods Sold: (2,000 units x $2,400) = $4,800,000
Variable Selling and Administrative Expenses: (2,000 units x $200) = $400,000
Contribution Margin: $1,400,000
Fixed Manufacturing Costs: $750,000
Fixed Selling and Administrative Expenses: $300,000
Operating Income: $350,000
February 2017:
Sales Revenue: (2,500 units x $3,300) = $8,250,000
Variable Cost of Goods Sold: (2,500 units x $2,400) = $6,000,000
Variable Selling and Administrative Expenses: (2,500 units x $200) = $500,000
Contribution Margin: $1,750,000
Fixed Manufacturing Costs: $750,000
Fixed Selling and Administrative Expenses: $300,000
Operating Income: $700,000
March 2017:
Sales Revenue: (1,500 units x $3,300) = $4,950,000
Variable Cost of Goods Sold: (1,500 units x $2,400) = $3,600,000
Variable Selling and Administrative Expenses: (1,500 units x $200) = $300,000
Contribution Margin: $1,050,000
Fixed Manufacturing Costs: $750,000
Fixed Selling and Administrative Expenses: $300,000
Operating Income: $0
(b) Absorption Costing Income Statements:
January 2017:
Sales Revenue: (2,000 units x $3,300) = $6,600,000
Cost of Goods Sold:
Variable Costs: (2,000 units x $2,400) = $4,800,000
Fixed Manufacturing Costs: (2,000 units x ($500,000 ÷ 1,500 units)) = $666,667
Total Cost of Goods Sold: $5,466,667
Gross Profit: $1,133,333
Selling and Administrative Expenses: $700,000
Operating Income: $433,333
February 2017:
Sales Revenue: (2,500 units x $3,300) = $8,250,000
Cost of Goods Sold:
Variable Costs: (2,500 units x $2,400) = $6,000,000
Fixed Manufacturing Costs: (2,500 units x ($500,000 ÷ 1,500 units)) = $833,333
Total Cost of Goods Sold: $6,833,333
Gross Profit: $1,416,667
Selling and Administrative Expenses: $700,000
Operating Income: $716,667
March 2017:
Sales Revenue: (1,500 units x $3,300) = $4,950,000
Cost of Goods Sold:
Variable Costs: (1,500 units x $2,400) = $3,600,000
Fixed Manufacturing Costs: (1,500 units x ($500,000 ÷ 1,500 units)) = $500,000
Total Cost of Goods Sold: $4,100,000
Gross Profit: $850,000
Selling and Administrative Expenses: $700,000
Operating Income: $150,000
The difference in operating income for January, February, and March between variable costing and absorption costing is due to the treatment of fixed manufacturing overhead costs. Variable costing treats fixed manufacturing overhead as a
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October 1, Year 1:
Richter received an unfavorable judgement in defense of a trademark and paid $25,000 in fees to their law firm. Prepare the journal entry, if any, to record the legal fees.
To record the legal fees, the journal entry on October 1, Year 1, would be:
Debit: Legal Expense - $25,000
Credit: Cash - $25,000
When Richter received an unfavorable judgment in defense of a trademark, they incurred a legal expense. This expense must be recorded in their financial statements. To do this, you will need to create a journal entry that reflects the transaction.
In this case, you will debit the Legal Expense account for $25,000 to recognize the cost of the legal services. Additionally, you will credit the Cash account for $25,000 to show that cash has been used to pay for the legal fees.
This journal entry accurately records the transaction and ensures that the company's financial statements are up-to-date and accurate.
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To record the legal fees, the journal entry on October 1, Year 1, would be:
Debit: Legal Expense - $25,000
Credit: Cash - $25,000
When Richter received an unfavorable judgment in defense of a trademark, they incurred a legal expense. This expense must be recorded in their financial statements. To do this, you will need to create a journal entry that reflects the transaction.
In this case, you will debit the Legal Expense account for $25,000 to recognize the cost of the legal services. Additionally, you will credit the Cash account for $25,000 to show that cash has been used to pay for the legal fees.
This journal entry accurately records the transaction and ensures that the company's financial statements are up-to-date and accurate.
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2. if mhh decided to pursue multiple target markets, what with the supply chain requirements be? should they have multiple supply chains? be specific.
If MHH decided to pursue multiple target markets, the supply chain requirements would need to be adapted to cater to the specific needs of each market. Yes, they should have multiple supply chains, as this would allow them to efficiently serve the diverse needs of their target markets.
Specifically, MHH would need to:
1. Assess the unique requirements of each target market, such as product specifications, demand patterns, and delivery expectations.
2. Design separate supply chains to address these requirements, focusing on aspects like procurement, manufacturing, distribution, and logistics.
3. Implement appropriate technologies and systems to effectively manage and monitor each supply chain.
4. Coordinate communication between the multiple supply chains to ensure efficiency and avoid conflicts.
5. Continuously evaluate the performance of each supply chain and make adjustments as needed to ensure they meet the demands of their respective target markets.
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Y у Put the 1's on the K map. HW 13.1 Finish this: Using the procedure give all minimal forms. We'll just mark all the prime implicants now:
To complete HW 13.1, we need to follow the procedure for minimizing the Boolean expression using a Karnaugh map. First, we put the 1's on the K map based on the truth table. Then, we group the adjacent 1's in groups of 2, 4, or 8, and identify the corresponding Boolean expression for each group. These expressions are the minimal forms of the original expression.
Once we have identified all the minimal forms, we can mark all the prime implicants on the K map. These are the groups that cannot be further simplified or combined with other groups to form a smaller expression. We can use these prime implicants to generate min the final,imal expression for the Boolean function.
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consider the circular flow model to nswer the questions that follow a. in the circular flow model, households provide inputs to firms through the (cick to select) and in exchange receive (click to select) from firms. b. In the circular flow model, firms receive (click to select) from households when households purchase goods and services in the
In the circular flow concept, households provide inputs to businesses through the market for production inputs or resource markets in exchange for cash or business income.
What is circulr flow concept?The responses to the first half of the question are provided below:
In the circular flow model, families engage with businesses in two different ways: first, by exchanging their services for money or income on the market for sources of production, and second, by acting as buyers and paying the business for commodities.Now that we've covered households as sellers in the first part of the question, the correct response based on the foregoing explanation is a) In the circular flow model, households supply inputs to the firms via the market for factors of production/resource markets in exchange for money/income from firms.The correct response is b) In the circular flow model, enterprises receive revenue from households when families purchase products and services in the market for goods and services, as we have stated previously in this part of the first part.To know more about circular flow, visit:
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It is possible for an economy to increase its production of both goods if the economy a. moves downward and to the right along its production possibilities frontier and the frontier is bowed outward. b. moves upward and to the left along its production possibilities frontier and the frontier is bowed outward. C. moves in either direction along its production possibilities
Yes, It is possible for an economy to increase its production of both goods if the economy moves downward and to the right along its production possibilities frontier (PPF) and the frontier is bowed outward. The correct option is (a).
The PPF represents the maximum combination of goods that an economy can produce efficiently, given its available resources and technology. When the PPF is bowed outward, it implies that resources are not perfectly substitutable between the two goods, and the opportunity cost of producing one good increases as more of it is produced.
In this scenario, as the economy moves downward and to the right along its PPF, it reallocates resources from the production of one good to the other, while still operating at an efficient point on the frontier. This movement results in an increase in the production of both goods, as the economy is utilizing its resources more effectively in the production process. This is possible when there are untapped or underutilized resources, or when technological advancements are made, allowing for more efficient production.
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Discuss the pros and cons of using SDRs or another global currency created by the IMF to replace the US dollar as the international reserve currency?
Pros are that it would reduce the reliance of global financial system on a single currency, which could reduce the volatility and risk associated with sudden changes in the value of that currency. A Con : significant disruptions and uncertainty in the global financial system
Special Drawing Rights (SDRs) are a type of international reserve asset, created by the International Monetary Fund (IMF), which can be exchanged for freely usable currencies by member countries.
The use of SDRs or another global currency as a replacement for the US dollar as the international reserve currency has both advantages and disadvantages.
On the other hand, the use of a new global currency could also lead to significant disruptions and uncertainty in the global financial system. There could be challenges in determining the value of the currency, as well as the mechanism for determining its supply and demand.
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1. what is the problem if a manager uses last year’s sales data instead of last year’s demand to forecast demand for the coming year?
When a manager uses last year's sales data instead of last year's demand to forecast demand for the coming year, the problem is that sales data does not necessarily reflect actual demand because sales data only indicates the number of units sold and does not reveal the underlying factors that contributed to the sales figures such as promotional discounts, changes in consumer preferences, or economic conditions.
Therefore, relying solely on sales data can result in inaccurate demand forecasts and misinformed decision-making regarding production, inventory, and pricing strategies.
Thus, it is essential for managers to analyze both sales and demand data to gain a more comprehensive understanding of market trends and customer behavior.
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Suppose a regression with 51 observations returns a regression sum of squares of 56,000 and a total sum of squares of 250,000. The corresponding R2 is:
A. 0.776.
B. 0.224.
C. 0.345.
D. 0.671.
The coefficient of determination, R-squared, is a measure of the proportion of the total variability in the dependent variable that is explained by the independent variable(s) in a linear regression model. Correct answer is 0.224 option (B).
R-squared can be calculated as the ratio of the regression sum of squares (RSS) to the total sum of squares (TSS):
R-squared = RSS / TSS
In this case, the regression sum of squares is 56,000, and the total sum of squares is 250,000. Therefore, the R-squared is:
R-squared = 56,000 / 250,000 = 0.224
Therefore, the correct answer is (B) 0.224.
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The coefficient of determination, R-squared, is a measure of the proportion of the total variability in the dependent variable that is explained by the independent variable(s) in a linear regression model. Correct answer is 0.224 option (B).
R-squared can be calculated as the ratio of the regression sum of squares (RSS) to the total sum of squares (TSS):
R-squared = RSS / TSS
In this case, the regression sum of squares is 56,000, and the total sum of squares is 250,000. Therefore, the R-squared is:
R-squared = 56,000 / 250,000 = 0.224
Therefore, the correct answer is (B) 0.224.
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What is the primary purpose of a survey experiment?
A) to gain insight into how a voter cast their ballot following an election
B) to gauge public opinion about a candidate or a policy over a period of time
C) to better understand public attitudes on controversial issues
D) to get an idea of which approach a candidate should take to their campaign
The primary purpose of a survey experiment is B) to better understand public attitudes on controversial issues, as well as to gauge public opinion about a candidate or a policy over a period of time.
By conducting a survey, researchers can collect data from a representative sample of the population, which allows them to draw conclusions about the beliefs and behaviors of the broader population. Survey experiments can help researchers to identify the factors that influence public opinion and to test hypotheses about how people respond to different types of information or messaging. This information can be used by policymakers, political campaigns, and other organizations to make informed decisions and develop effective strategies for communicating with the public.
While surveys may occasionally be used to understand how individuals cast their ballots in an election, this is not typically the primary purpose of a survey experiment. Similarly, while surveys may provide insights into which approaches a candidate should take to their campaign, this is usually just one of several factors that are considered when developing a campaign strategy.
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Joe who is 34, had AGI of $400,000 during 2019. He incurred the following expenses and losses during the year.
Medical expenses before AGI floor $38,500
State and local income taxes $15,200
Real estate taxes $4,400
Home mortgage interest $5,400
Charitable contribution $14,800
Unreimbursed employee expenses $8,900
Gambling losses (he had $7,400 of gambling income) $9,800
Compute Joe's total itemized deductions for the year.
Joe's total itemized deductions for the year is $76,100
To calculate Joe's total itemized deductions, we need to add up the amounts of each deductible expense:
Medical expenses before AGI floor: $38,500
State and local income taxes: $15,200
Real estate taxes: $4,400
Home mortgage interest: $5,400
Charitable contributions: $14,800
Total so far: $78,300
However, beginning in 2018, the Tax Cuts and Jobs Act (TCJA) has placed a $10,000 cap on the total amount of state and local taxes that can be deducted on Schedule A.
In this case, Joe's state and local taxes (which include his state income tax and real estate tax) add up to $19,600, which is $9,600 above the $10,000 cap. Therefore, Joe can only deduct $10,000 of his state and local taxes.
Revised total: $68,300
Finally, Joe's gambling losses are only deductible to the extent of his gambling income. Since he had $7,400 of gambling income, he can deduct up to $7,400 of gambling losses. Therefore, his total itemized deductions for the year are:
$38,500 (medical expenses) + $10,000 (state and local taxes) + $5,400 (home mortgage interest) + $14,800 (charitable contributions) + $7,400 (gambling losses) = $76,100
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The recession of 2007-2009 resulted in falling revenues and large layoffs for a vast number of companies. By 2017, unemployment and spending _ _ in the economy. A) fell; decreased B) rose; increased C) fell; increased D) rose; decreased
B) rose; increasedcontent loaded
The recession of 2007-2009 resulted in falling revenues and large layoffs for a vast number of companies. By 2017, unemployment and spending _ _ in the economy.
The recession of 2007-2009 resulted in falling revenues and large layoffs for a vast number of companies. By 2017, unemployment and spending _ _ in the economy. The correct answer is C) fell; increased. Unemployment fell and spending increased in the economy by 2017.
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A gasoline tax whose proceeds are refunded to the a consumer in a lump-sum amount will nonetheless reduce the consumption of b. gasoline because consumers subtract the rebate from the price. c. gasoline is relatively less expensive than other goods after the tax. d. consumers add the rebate to the price. gasoline is relatively more expensive than other goods after the tax.
A gasoline tax whose proceeds are refunded to the consumer in a lump-sum amount will nonetheless reduce the consumption of gasoline because consumers subtract the rebate from the price.
This is known as the "tax salience" effect, where consumers are more aware of the tax when it is directly visible, such as in the price of gasoline. By reducing the net price of gasoline, consumers will be more likely to consume it, but the effect will still be less than if there were no tax at all. The reduction in consumption may also depend on the size of the rebate, as a larger rebate would result in a smaller increase in the net price of gasoline. In summary, while a lump-sum refund may offset the burden of a gasoline tax for consumers, it is unlikely to completely eliminate the effect of the tax on consumption.
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A gasoline tax whose proceeds are refunded to the consumer in a lump-sum amount will nonetheless reduce the consumption of gasoline because consumers subtract the rebate from the price.
This is known as the "tax salience" effect, where consumers are more aware of the tax when it is directly visible, such as in the price of gasoline. By reducing the net price of gasoline, consumers will be more likely to consume it, but the effect will still be less than if there were no tax at all. The reduction in consumption may also depend on the size of the rebate, as a larger rebate would result in a smaller increase in the net price of gasoline. In summary, while a lump-sum refund may offset the burden of a gasoline tax for consumers, it is unlikely to completely eliminate the effect of the tax on consumption.
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Suppose Bob the merchant runs a lightweight client and receives the current head of the block chain from a trusted source.
a. What information should Bob’s customers provide to prove that their payment to Bob has been included in the block chain? Assume Bob requires 6 confirmations.
b. Estimate how many bytes this proof will require. Assume there are 1024 transactions in each block.
The information Bob's customers should provide to prove their payment to Bob has been included in the block chain is Transcation ID, Merkle proof and Block header. The proof will require approximately 832 bytes.
a. To prove that their payment to Bob has been included in the blockchain, Bob's customers should provide the following information:
1. Transaction ID (hash) of their payment transaction.
2. Merkle proof, which consists of the relevant Merkle branch containing the transaction ID within the Merkle tree of the block.
3. Block header of the block containing the transaction, as well as the headers of the following 5 blocks to show 6 confirmations.
b. To estimate the proof's size in bytes, consider the following components:
1. Transaction ID: 32 bytes (256-bit hash)
2. Merkle proof: Since there are 1024 transactions in each block, there will be a 10-level Merkle tree (2^10 = 1024). Each level requires 32 bytes for a hash, so the Merkle proof will be 10 * 32 = 320 bytes.
3. Block headers: Each block header is 80 bytes, and we need 6 of them (the block containing the transaction and 5 subsequent blocks), totaling 80 * 6 = 480 bytes.
Adding all components, the proof will require approximately 32 + 320 + 480 = 832 bytes. This allows Bob to efficiently verify the payment and confirmations without needing the full blockchain data.
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How do you find IRR on a TI-nspire CX calculator?
To find the IRR (internal rate of return) on the TI-nspire CX calculator there are a few steps to follow.
These steps include:Enter the cash flows for the investment project in a list format, with the initial investment as a negative value and subsequent cash flows as positive values.Press the “Apps” button on the calculator, then select “Finance.”Choose “NPV and IRR,” then select the list containing the cash flows.Press “Compute” and the calculator will display the IRR as a percentageIf the calculator displays an error message, it may indicate that there are multiple IRRs or no IRR at all. In this case, adjust the cash flows and try again.That's it! You have now found the IRR using a TI-nspire CX calculator.
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If a company purchases merchandise on terms of 1.4/20, n/30, the cash discount available (assuming a 360-day year) is equivalent to an effective annual interest rate of 12.8%. 63.2%. 1.4%. 50.4%.
The cash discount available for a company purchasing merchandise on terms of 1.4/20, n/30 is 1.4%. The correct option is d.
if payment is made within 20 days. This means that if the company takes advantage of the cash discount, they are effectively paying 98.6% of the original purchase price. To calculate the effective annual interest rate, we can use the following formula:
Effective Annual Interest Rate = (Discount % / (100% - Discount %)) x (360 / (Payable Days - Discount Days))
Plugging in the values from the terms, we get:
Effective Annual Interest Rate = (1.4% / (100% - 1.4%)) x (360 / (30 - 20))
Effective Annual Interest Rate = 1.43% x 36
Effective Annual Interest Rate = 51.48%
Therefore, the effective annual interest rate for the cash discount available is 51.48%, which is closest to the option of 50.4%.
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All of the following are reasons which support floating exchange rates EXCEPT: A. Floating exchange rate systems support automatic trade balance adjustments
B. Floating exchange rate systems help countries recover from financial crises
C. Floating exchange rate systems provide countries with monetary policy autonomy
D. All of these support floating exchange rates
An exchange rate refers to the value of one currency in relation to another currency. It is the rate at which one currency can be exchanged for another currency. The correct choice: D. All of these support floating exchange rates
A. Floating exchange rate systems support automatic trade balance adjustments - True, as exchange rates adjust based on supply and demand, helping to balance trade.
B. Floating exchange rate systems help countries recover from financial crises - True, as countries can let their currency depreciate to boost exports and stimulate economic growth.
C. Floating exchange rate systems provide countries with monetary policy autonomy - True, as countries can set their own interest rates without worrying about maintaining a fixed exchange rate.
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Sara Bellows, manager of the telecommunication sales team, has the following department budget.
Billings—long distance $350,000
Billings—phone card 75,000
Billings—toll free 265,000
Her responsibility center is best described as a
a. cost center.
b. revenue center.
c. profit center.
d. investment center.
A revenue center is a responsibility center in which the manager is responsible for generating revenue by selling goods or services.
The correct answer is b. revenue center. In this case, Sara Bellows is responsible for generating revenue from the sale of telecommunications services, specifically long-distance billings, phone card billings, and toll-free billings. Therefore, her responsibility center is a revenue center. A cost center is responsible for controlling costs, a profit center is responsible for generating both revenue and controlling costs, and an investment center is responsible for generating revenue, controlling costs, and managing investments.
A cost center is a department or division within a company that is responsible for incurring expenses but does not directly generate revenue.
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Read each of the statements below and indicate whether it reflects an advantage associated with investing in a tax-sheltered retirement account. Statement: O An Advantage Not an Advantage It is best that your contributions start later rather than sooner. O Retirement accounts provide their greatest advantage when you start saving earlier-rather than later-in your lifetime. O The greater your marginal tax rate, the greater the tax savings associated with contributions to a tax-sheltered retirement account. The maximum dollar amount your employer will contribute to your 401(k) account this year is _______
The statements which are not at advantage is 1 and the statements which are at advantage are 2 and 3.
1. It is best that your contributions start later rather than sooner.
- Not an Advantage
The statements which are at advantage are as follows:
2. Retirement accounts provide their greatest advantage when you start saving earlier-rather than later-in your lifetime.
- An Advantage
3. The greater your marginal tax rate, the greater the tax savings associated with contributions to a tax-sheltered retirement account.
- An Advantage
Regarding the maximum dollar amount your employer will contribute to your 401(k) account this year, I cannot provide a specific number as it depends on your individual employer's contribution policies. However, it's important to be aware of your employer's contribution limits and try to maximize them for optimal retirement savings.
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You are engaged to audit the Ferrick Corporation for the year ended December 31, 2018. Only merchandise shipped by the Ferrick Corporation to customers up to and including December 30, 2018, has been eliminated from inventory. The inventory as determined by physical inventory count has been recorded on the books by the company’s controller. No perpetual inventory records are maintained. All sales are made on an FOB–shipping point basis. You are to assume that all purchase invoices have been correctly recorded. The following lists of sales invoices are entered in the sales journal for the months of December 2018 and January 2019, respectively. Sales Invoice Amount Sales Invoice Date Cost of Merchandise Sold Date Shipped December 2018 a. $ 3,000 Dec. 21 $ 2,000 Dec. 31 b. 2,000 Dec. 31 800 Dec. 13 c. 1,000 Dec. 29 600 Dec. 30 d. 4,000 Dec. 31 2,400 Jan. 9 e. 10,000 Dec. 30 5,600 Dec. 29* January 2019 f. $ 6,000 Dec. 31 $ 4,000 Dec. 30 g. 4,000 Jan. 2 2,300 Jan. 2 h. 8,000 Jan. 3 5,500 Dec. 31 *Shipped to consignee.
The following events that took place in Ferrick Corporations during the year ending are detailed in the journal entries.
a. $3,000 Dec. 21 $2,000 Dec. 31-- Since the inventory was sent on December 31st, it has not been removed from stock in 2018.
The entry would be-
Dr. COGS 2000
Cr. Inventory 2000
b. 2,000 Dec. 31 800 Dec.Before the deadline of December 31, the inventory was removed, and the invoice was sent on December 31. Inventory and revenue were both recorded in 2018.
No Journal Entry required.
c. 1,000 Dec. 29 600 Dec. 30- Before the deadline of December 31, inventory was removed, and an invoice was generated on December 30. Inventory and revenue were both recorded in 2018.
No Journal Entry required.
d. 4,000 Dec. 31 2,400 Jan. 9- Revenue recorded in 2018, inventory shipped in 2019. Revenue must be backed out.
So, the entry would be-
DR. Sales 4000
CR. AR 4000
e. e. 10,000 Dec. 30 5,600 Dec. 29*Shipped to consignee, January 2019- Despite the fact that both took place in 2018, neither the recording of sales nor the removal of inv. reverse constitute shipping to consignee.
Entry for it-
DR. sales 10000
DR. inventory 5600
CR. AR 10000
CR. COGS 5600
Hence, these are all the journal entries required.
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If Carissa Dalton has a $130,000 home insured for $100,000, based on the 80 percent coinsurance provision, how much would the insurance company pay on a $5,000 claim? Assume there is no deductible. (Do not round intermediate calculations. Round your answer to 2 decimal places.)
The insurance company would pay $4,807.69 on the $5,000 claim with no deductible.
To calculate the amount the insurance company would pay on Carissa Dalton's claim, we need to use the following formula:
Claim Payment = (Insured Amount / Required Insurance Amount) x Claim Amount
1. Calculate the required insurance amount using the 80% coinsurance provision:
Required Insurance Amount = Home Value x Coinsurance Provision
Required Insurance Amount = $130,000 x 0.80 = $104,000
2. Calculate the claim payment using the formula above:
Claim Payment = (Insured Amount / Required Insurance Amount) x Claim Amount
Claim Payment = ($100,000 / $104,000) x $5,000
3. Solve for Claim Payment:
Claim Payment = 0.9615 x $5,000 = $4,807.69
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The formula for calculating the amount the insurance company would pay on a claim is:
Insurance payment = (Amount of insurance carried / Amount of insurance required) x Amount of loss
In this case, the amount of insurance carried is $100,000, which is 80% of the replacement cost of $130,000. The amount of insurance required is also 80% of the replacement cost, which is $104,000.
So, the calculation would be:
Insurance payment = ($100,000 / $104,000) x $5,000
Insurance payment = 0.9615 x $5,000
Insurance payment = $4,807.69
Therefore, the insurance company would pay $4,807.69 on a $5,000 claim for Carissa Dalton's home insured for $100,000 based on the 80 percent coinsurance provision, assuming there is no deductible.
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Judges decisions that establish precedent and bind future courts is known as:a) statutory law b) stare decisis c) common law d)evolving law
Judges decisions that establish precedent and bind future courts is known as stare decisis. Therefore, the correct option is B.
Stare decisis is a Latin term that means "to stand by things decided." It is a legal principle that judges follow when making decisions in cases. Essentially, it means that judges should rely on previous judicial decisions when deciding similar cases. This creates consistency and predictability in the legal system.
When judges make decisions that establish precedent, those decisions become binding on future courts. This means that lower courts must follow the decisions of higher courts, and future judges are required to follow the same precedent unless they can distinguish the current case from the previous one.
Therefore, stare decisis is an important principle in common law systems, where the law is developed through judicial decisions rather than legislation (statutory law). The law is constantly evolving, but stare decisis ensures that the legal system remains stable and predictable. Hence, the correct option is B: stare decisis.
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explain the five elements that are part of a strategic understanding of the client's business.
These five elements, you can develop a comprehensive understanding of the client's business is Goals and Objectives , Market and Industry Analysis, Target Audience, Internal Resources and Capabilities, Financial Performance and Projections.
The five elements that are part of a strategic understanding of the client's business include:
1. Goals and Objectives: Understanding the client's short-term and long-term goals helps align your strategies with their expectations and desired outcomes.
2. Market and Industry Analysis: Examining the client's industry and market trends allows you to identify opportunities and threats, as well as understand their competitive landscape.
3. Target Audience: Knowing the client's target audience helps in creating tailored strategies that effectively reach and engage their potential customers.
4. Internal Resources and Capabilities: Assessing the client's organizational structure, resources, and capabilities is essential in crafting strategies that are feasible and sustainable for their business.
5. Financial Performance and Projections: Analyzing the client's financial data and forecasting future performance helps in making informed decisions and setting realistic strategic goals.
By considering these five elements, you can develop a comprehensive understanding of the client's business and create effective strategies to achieve their objectives.
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11) Knowledge capital is (rival/ nonrival). (excludible / nonexcludable.) Therefore it is available to ( no one / some people / everyone.) This allows firms to do what with the research and development of other firms? What does Romer suggest as a solution for this problem? To circumvent this, firms may make political contributions to politicians to protect their interests. What is the term for this?
Knowledge capital is non-rival and non-excludable. Therefore it is available to everyone. This allows firms to use the research and development of other firms to create new products and processes, leading to economic growth and innovation.
However, the free-rider problem arises when firms have little incentive to invest in research and development if others can use the results without paying for them. Romer suggests that government intervention, such as providing patent protection, can provide incentives for firms to invest in research and development, leading to the creation of new knowledge capital.
To protect their interests, firms may engage in rent-seeking behavior, such as making political contributions to politicians to influence policy decisions. This is known as rent-seeking or crony capitalism, and it can distort markets and hinder economic growth.
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assuming the product mix calculated in requirement 2, what contribution margin will be generated from refrigerated drinks each day? (round your answers to the nearest whole dollar.)
To calculate the contribution margin generated from refrigerated drinks each day, you will need to use the formula:
Contribution Margin = Sales Revenue - Variable Costs
Assuming the product mix calculated in requirement 2, we know that the refrigerated drinks have a unit selling price of $3.50 and a unit variable cost of $1.50.
So, if we sell 200 refrigerated drinks each day, the total sales revenue generated would be:
200 x $3.50 = $700
And the total variable costs would be:
200 x $1.50 = $300
Therefore, the contribution margin generated from refrigerated drinks each day would be:
$700 - $300 = $400
So the answer is $400.
To answer your question, I would need some additional information such as the selling price, variable cost, and quantity of each refrigerated drink. The contribution margin can be calculated using the following formula:
Contribution Margin = (Selling Price - Variable Cost) x Quantity
Once you provide the required information for each drink in the product mix, I can help you calculate the total contribution margin generated from refrigerated drinks each day. Please round the final answer to the nearest whole dollar as requested.
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