1. Shariah Governance Policy Document The designated Shariah internal control functions under the Shariah Governance Policy Document of Bank Negara Malaysia issued in 2019 include:
Shariah audit - The Shariah audit's objective is to verify the effectiveness of the Shariah compliance framework by providing an independent evaluation of Shariah compliance. In addition, it also includes the assessment of Shariah-compliant reporting and accounting.
Shariah review - The Shariah review is conducted to evaluate the effectiveness and efficiency of the Shariah compliance process. The purpose of Shariah review is to ensure that the internal controls and systems put in place are adequate to manage the risks and to achieve the objectives of the Shariah.
Shariah risk management - The objective of the Shariah risk management is to identify, measure, manage, and monitor the risks related to Shariah compliance. Shariah risk management ensures that the Shariah compliance process is aligned with the overall risk management process of the institution.
2. Weak internal control practices in an Islamic financial institutionThere are several factors that may contribute to weak internal control practices in an Islamic financial institution, two of which are discussed below:
1) Lack of governance framework - The lack of governance framework is a key factor that may contribute to weak internal control practices in an Islamic financial institution. In some jurisdictions, there is a lack of regulatory framework to guide the internal control practices in Islamic financial institutions. Without a robust governance framework, it is difficult to ensure that the internal controls in place are adequate to manage the risks.
For example, in Pakistan, the State Bank of Pakistan (SBP) has issued guidelines for the internal control practices in Islamic financial institutions. However, these guidelines are not comprehensive, and there are several areas where the guidelines are not clear. As a result, some Islamic financial institutions in Pakistan may not have robust internal control practices in place.
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When the government wants to build a highway that cuts across the property of many owners, the main economic justification for taking private property is it: a. overcomes high transaction costs caused by potential holdout problems. b. compensates landowners for the value of their property. c. reduces the incentive of property owners to make inefficient investments in their property. d. makes it more likely that the government will undertake socially valuable projects.
The correct option is A, that is, the main economic justification for taking private property when the government wants to build a highway that cuts across the property of many owners is it overcomes high transaction costs caused by potential holdout problems.
Eminent domain is the power that the government has to take the property from citizens or private individuals for public use by paying a fair and reasonable compensation. A highway, for example, would be for the general public use, and eminent domain would be used in acquiring the property. The use of eminent domain in acquiring property for public use has been justified as an economic way of overcoming high transaction costs caused by potential holdout problems.
Individuals or private landowners may hold out on the sale of their property, causing an increase in transaction costs, which the government would have to cover. A holdout problem is when a property owner declines to sell his/her property at the offered price, thus causing an increase in the transaction costs of the acquiring party.
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When the sale of finished goods is recorded, the balance in which of the following accounts will decrease? (select one option)
None of the listed choices are correct
Factory Overhead
Sales Revenue
Finished Goods Inventory
Work-in-Process
Raw Materials Inventory
Cost of Goods Sold
The correct option is the "Finished Goods Inventory". When the sale of finished goods is recorded, the balance in the Finished Goods Inventory will decrease. The Finished Goods Inventory account is an inventory account that contains all manufactured goods ready for sale, including the cost of production associated with those goods.
In the income statement, the cost of goods sold is subtracted from the beginning balance of the finished goods inventory account to determine the ending balance of the finished goods inventory account. The formula for Finished goods Inventory is given by:
Beginning finished goods inventory + cost of goods manufactured - cost of goods sold = ending finished goods inventory
Thus, when the finished goods are sold, the cost of goods sold is subtracted from the finished goods inventory balance, decreasing the balance in the Finished Goods Inventory account.
The cost of goods sold account is then credited, reflecting the expense of goods sold. Therefore, the correct answer is Finished Goods Inventory.
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An investment of $1,000 is earning interest at the rate of 3. 8% compounded daily over 3 years. Approximately how much interest is earned on the investment?.
The interest earned on the investment is $120.75.
How much interest is earned on the $1,000 investment?To calculate the interest earned, we will use the formula for compound interest: A = P(1 + r/n)^(nt)
Given data:
P = $1,000r = 3.8% = 0.038 (as a decimal)n = 365 (daily compounding)t = 3 yearsPlugging values:
= $1,000*(1 + 0.038/365)^(365*3)
= $1,000*1.12074547455
= $1,120.74547.
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what are the three primary ways a product can be sold globally?
There are three primary ways a product can be sold globally: Direct sales: This involves selling products directly to customers in other countries through your own website or online store.
You can also sell directly to customers through your own sales team or through distributors or resellers. E-commerce marketplaces: This involves selling products on online marketplaces like Amazon, eBay, or Alibaba. These marketplaces have a global reach, so you can reach customers in many different countries. Dropshipping: This involves selling products without having to carry any inventory. When a customer orders a product from you, you simply place the order with a supplier who then ships the product directly to the customer. This is a great way to sell products globally without having to invest in inventory or shipping.
These are just a few of the ways a product can be sold globally. The best way for you to sell your product will depend on your specific product, target market, and budget.
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who plays a crucial role in determining house of representatives' committee assignments, leadership roles and assigning bills to committees?
The Speaker of the House plays a crucial role in determining House of Representatives' committee assignments, leadership roles, and assigning bills to committees.
1. The Speaker of the House: The Speaker of the House is an influential position in the U.S. House of Representatives. The Speaker is elected by the members of the House and is typically the leader of the majority party.
2. Committee Assignments: The Speaker holds significant power in determining committee assignments. They have the authority to appoint members of their party to various committees in the House. This includes selecting committee chairs and deciding the overall composition of each committee.
3. Leadership Roles: The Speaker also plays a vital role in determining leadership positions within the House. They have the authority to appoint individuals to key leadership roles, such as Majority Leader, Majority Whip, and committee chairs.
4. Assigning Bills to Committees: Another crucial responsibility of the Speaker is assigning bills to specific committees for consideration. When a bill is introduced in the House, the Speaker determines which committee will review and debate the legislation. This decision can significantly impact the fate of the bill.
5. Influence and Negotiation: The Speaker's influence extends beyond formal powers. They can use their position to negotiate and persuade members of their party to support certain committee assignments, leadership positions, or bills.
In conclusion, the Speaker of the House holds considerable authority in determining committee assignments, leadership roles, and assigning bills to committees in the House of Representatives. Their decisions shape the legislative process and have a significant impact on the functioning of the House.
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Cost of Trade Credit A large retailer obtains merchandise under the credit terms of 1/20, net 30 , but routinely takes 65 days to pay its bills. (Because the retailer is an important customer, suppliers allow the firm to stretch its credit terms.) What is the retailer's effective cost of trade credit? Assume a 365-day year. Do not round intermediate calculations. Round your answer to two decimal places.
The answer is, the retailer's effective cost of trade credit is 37.24%.
How to find?Given that the retailer obtains merchandise under the credit terms of 1/20, net 30, but routinely takes 65 days to pay its bills.
The cost of trade credit is the effective annual interest rate charged to the buyer. The retailer's effective cost of trade credit is as follows:
Effective cost of trade credit = [(Discount % / (100% - Discount %)] x [(365 / Credit period) - Discount period]
Effective cost of trade credit = [(1/20) / (1 - 1/20)] x [(365 / 30) - 20]
Effective cost of trade credit = 37.24%.
Therefore, the retailer's effective cost of trade credit is 37.24%.
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what are the intellectual assets for the ActivePure company...please provided in detail.
Also send the relevent information....exact intellectual assets..
thankyou so much
Active Pure company has various intellectual assets that are exclusive to the company. These assets include patents, trademarks, copyrights, and trade secrets. Patents are legal protections for the company's invention or product design, which prevent others from making or using the same design or invention.
The company has several patents that protect its technologies, such as the Active Pure technology, the Active Pure Catalytic Carbon, and the Active Pure Photocatalytic Oxidation. Trademarks are logos, names, and phrases used to identify the company's products or services.
Active Pure has several trademarks, including Active Pure, Pure & Clean, Beyond Guardian Air, and Active Pure Catalytic Carbon. These trademarks distinguish the company's products and services from those of its competitors. Copyrights protect the company's original creative works, such as literature, music, or artwork.
Active Pure may hold copyrights for its marketing materials, website content, and software. Trade secrets are confidential and proprietary information that the company uses to gain a competitive advantage. This information may include formulas, manufacturing processes, or customer lists.
Active Pure may have trade secrets related to its technology, production processes, or marketing strategies. In summary, Active Pure has a range of intellectual assets, including patents, trademarks, copyrights, and trade secrets.
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on which side of the size-up triangle would you find time factors and weather
The side of the size-up triangle where you would find time factors and weather is the bottom side of the triangle.
The bottom side of the size-up triangle is where you will find factors that can change rapidly and suddenly, including weather and time factors. Hence, weather and time factors play a significant role in firefighting.
Size-up triangle:
The size-up triangle is used by firefighters to assess a situation quickly. It is an essential tool for incident commanders when developing strategies and tactics for fighting a fire. The size-up triangle has three sides: Building, Fire, and People. The Building side considers the type of building, occupancy, and layout.
The Fire side analyzes the fire's size, location, and the resources needed to control it. Lastly, the People side takes into account the number, condition, and location of occupants.
Hence, a fire commander or firefighter should keep all these factors in mind while performing a firefighting operation, and the time factors and weather can significantly impact the strategy to fight the fire.
Therefore, firefighters should be trained to consider all the sides of the triangle when approaching a fire to ensure their safety and effectiveness.
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ABC Inc. provides Kelly with a company car. The car is leased for
500/month (including 13% HST and excluding insurance) and was made available to her for eight months. ABC pays all of the operating costs which amounted to $3,500. Kelly drove 13,000 kilometers of which 8,000 were for business. What is the minimum taxable benefit that Kelly must include on her personal tax return?
a. 1000
b 1600
c 2667
d 2400
The minimum taxable benefit that Kelly must include on her personal tax return is $200.
To calculate the minimum taxable benefit for Kelly, we need to consider the personal use of the company car.
First, we need to determine the total lease cost for the car:
Monthly lease cost (including HST) = $500
Lease cost for 8 months = $500/month * 8 months = $4,000
Next, we subtract the operating costs paid by the company:
Operating costs = $3,500
Total benefit for the leased car = Lease cost - Operating costs
Total benefit = $4,000 - $3,500 = $500
To calculate the taxable benefit, we need to determine the percentage of personal use of the car:
Personal use percentage = Personal kilometers / Total kilometers
Personal use percentage = 5,000 km (13,000 km - 8,000 km) / 13,000 km = 0.3846 (rounded to four decimal places)
Now we calculate the taxable benefit:
Taxable benefit = Total benefit * Personal use percentage
Taxable benefit = $500 * 0.3846 = $192.31 (rounded to two decimal places)
However, the taxable benefit must be rounded to the nearest multiple of $100. In this case, it would be rounded up to $200.
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An aging of a company's accounts receivable indicates that $4980 are estimated to be uncollectible (obviously this is using the accounts receivable method). If Allowance for Doubtful Accounts has a $930 credit balance, the adjustment to record bad debts for the period will require a debit to bad debt expense for $4,050 debit to allowance for doubtful accounts for $4,050 credit to allowance for doubtful accounts for $4,980 debit to bad debt expense for $4,980
Allowance for doubtful accounts will be debited with the amount $4,050.
If the company uses the allowance method, then the estimated amount of the uncollectible account will be credited to the allowance for doubtful accounts and will be debited to bad debt expenses account.
Thus, the final calculation will be:
Debit to the bad debt expense account = $4050
Credit to the allowance for doubtful accounts = $4050
The debit of $4050 will be made to bad debt expense, and a debit of $4050 will be made to allowance for doubtful accounts for the adjustment to record bad debts for the period.
Therefore, The total of $4980 will be estimated to be uncollectible, and allowance for doubtful accounts has a $930 credit balance.
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Who has the absolute advantage in the production of cottion? Virginia Both of the above Nebraska None of the above
Absolute advantage in the production of cotton refers to a situation where a country can produce a product using fewer resources than another country. In this case, the country with absolute advantage will have a lower opportunity cost than the other country. Therefore, when it comes to the production of cotton, the country that can produce cotton using fewer resources has an absolute advantage.
Virginia and Nebraska are both American states known for the production of cotton. In the production of cotton, Virginia has an absolute advantage. The reason behind this is because Virginia has the best soil for growing cotton, which makes cotton farming easier, and the harvest yield is of high quality. On the other hand, Nebraska has good soil quality too, but it's not the best for cotton farming.
Therefore, since Virginia has the best soil quality, it requires fewer resources to produce cotton compared to Nebraska. In conclusion, the answer to this question is Virginia, and it has the absolute advantage in the production of cotton.
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Suppose the Japanese yen exchange rate is ¥106 = $1 and the British Pound exchange rate is £1 = $1.51. Suppose the cross-rate is quoted as ¥165 = £1. Is there an arbitrage opportunity? If yes, calculate the arbitrage profit on $20,000.
Suppose the Swiss Franc exchange rate is CHF 2.00 = USD 1.00 and the British Pound exchange rate is GBP 0.60 = USD 1.00. Suppose the cross-rate is quoted as 3 CHF = 1 GBP. Is there an arbitrage opportunity? If yes, calculate the arbitrage profit on $5,000.
In finance, arbitrage refers to purchasing and selling an asset simultaneously in various markets in order to benefit from price inconsistencies. If there is a chance to make money without risking your capital, that is arbitrage.
In the first scenario, the yen-to-pound exchange rate cross-rate is given as[tex]165¥=1£.[/tex] Let's see if this offers an arbitrage opportunity. Here's how we'll perform arbitrage: Begin with $1.
We spent 1 and got back 1.1111, resulting in a profit. Therefore, in this scenario, there is an arbitrage opportunity. Arbitrage profit on 5,000 is: Profit in 1 dollar = 1.1111-1= 0.1111Profit in 5000 = 5000*0.1111= 555.5Therefore, the arbitrage profit on 5,000 is 555.5.
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According to the Securities Act of 1933, which of the following is illegal during the waiting period? A. Soliciting buyers for a company's securities. B. Receiving offers to buy a company's securities. C. Selling security subject to the act. D. Soliciting through the use of a summary prospectus.
According to the Securities Act of 1933, during the waiting period, it is illegal to engage in certain activities related to the sale of securities. The waiting period is the time between when a company files its registration statement with the Securities and Exchange Commission (SEC) and when the SEC declares the registration statement effective. During this period, the following activities are generally prohibited:
C. Selling securities subject to the act: It is illegal to sell or offer to sell securities that are subject to the Securities Act of 1933 during the waiting period. This is to ensure that investors have access to all the necessary information and disclosures before making investment decisions.
A. Soliciting buyers for a company's securities: Actively seeking or soliciting potential buyers for securities during the waiting period is also illegal. This includes any form of communication or marketing efforts to generate interest in the securities.
D. Soliciting through the use of a summary prospectus: Using a summary prospectus or any other document that summarizes the key information of the securities offering to solicit buyers is prohibited during the waiting period. Investors should have access to the full prospectus with detailed information before making investment decisions.
B. Receiving offers to buy a company's securities: Although it is not explicitly stated as illegal during the waiting period, receiving offers to buy a company's securities without an effective registration statement can be problematic. It is generally advisable to wait until the registration statement is declared effective before accepting offers to ensure compliance with the law.
Overall, during the waiting period, it is crucial to adhere to the regulations set forth by the Securities Act of 1933 to protect investors and ensure a fair and transparent securities market.
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For all branches, explain and then give examples that show your understanding of the topic
Extended Marketing Mix for Services??? 7Ps
Difference between Transactional and relational marketing
Difference between Consumer-generated content and Firm generated content
Difference between Brand Image and Brand Position
Difference between satisfaction delights, and brand love /emotional
What is the definition and benefits of green marketing
Product Development Life Cycle????
(Introduction, growth, maturity, decline) Profit at each stage, Sales, Promotional Tool.
Examples on Mass Customization, Customization, Differentiation, Personalization
Compare sales promotion between b2b and b2c
Extended Marketing Mix for Services – 7PsThe 7Ps of the extended marketing mix for services are the product, price, promotion, people, process, physical environment, and productivity & quality. The product refers to the services or goods being offered, price refers to the pricing of services.
Transactional and Relational Marketing : Transactional marketing is a short-term approach to selling, where the emphasis is on closing sales. In contrast, relational marketing is a long-term approach to selling that prioritizes building relationships with customers over the long term.
Consumer-generated Content and Firm-generated Content : Consumer-generated content refers to content that is created by customers, whereas firm-generated content refers to content that is created by the company or organization.
Brand Image and Brand Position : Brand image refers to how a brand is perceived by consumers, whereas brand position refers to how a brand is positioned in the marketplace relative to its competitors.
Satisfaction, Delight, and Brand Love/Emotion : Satisfaction refers to meeting the basic needs of the customer, delight refers to exceeding customer expectations, and brand love/emotion refers to the emotional connection that a customer has with a brand.
Definition and Benefits of Green Marketing : Green marketing refers to the process of promoting products or services that are environmentally friendly. Some benefits of green marketing include increased customer loyalty, improved public image, and increased profitability.
Sales Promotion in B2B and B2CSales promotion in B2B refers to the use of promotions such as discounts and trade shows to generate sales among business customers. In contrast, sales promotion in B2C refers to the use of promotions such as coupons and free samples to generate sales among individual customers.
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If the demand function for math self-help videos is given by 65−0.6x, and the total cost function to manufacture the videos is given by 6x+39, evaluate the marginal profit function at x=20.
Marginal Profit = This means that if production and sales increase by one unit, then total profit will
1)decrease
2)increase by approximately ___ dollars.
The marginal profit at x = 20 is 35 dollars. This means that if production and sales increase by one unit (from 20 to 21), the total profit will increase by approximately 35 dollars. It indicates that each additional unit sold at this level contributes $35 to the overall profit.
To evaluate the marginal profit function at x = 20, we need to calculate the derivative of the profit function with respect to x. The profit function is given by the difference between total revenue and total cost.
Total revenue is calculated by multiplying the demand function by x: TR(x) = (65 - 0.6x) * x.
Total cost is given by the cost function: TC(x) = 6x + 39.
The profit function is obtained by subtracting total cost from total revenue:
P(x) = TR(x) - TC(x) = (65 - 0.6x) * x - (6x + 39).
To find the marginal profit, we differentiate the profit function with respect to x:
P'(x) = dP(x)/dx = (65 - 0.6x) - 0.6x - 6.
Simplifying, we have:
P'(x) = -1.2x + 59.
Now, we can evaluate the marginal profit at x = 20:
P'(20) = -1.2(20) + 59
= -24 + 59
= 35.
The marginal profit at x = 20 is 35 dollars. This means that if production and sales increase by one unit (from 20 to 21), the total profit will increase by approximately 35 dollars. It indicates that each additional unit sold at this level contributes $35 to the overall profit.
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compare the income statements of sleepy futon incorporated and happy turtle transporters incorporated and calculate the tie ratio for each firm.
The income statement is a financial statement that shows a company's revenue, expenses, and net income over a specific period of time. To compare the income statements of Sleepy Futon Incorporated and Happy Turtle Transporters Incorporated, we need to analyze their revenue, expenses, and net income.
Start by obtaining the income statements of both companies. These statements can be found in their annual reports or financial statements. Look for the revenue section in each income statement. Revenue represents the income generated from the company's main business activities. Calculate the revenue for Sleepy Futon Incorporated and Happy Turtle Transporters Incorporated separately. Next, identify the expenses section in each income statement. Expenses are the costs incurred by the company to operate its business. Calculate the total expenses for each company.
Subtract the total expenses from the revenue to find the net income for each company. Net income is the profit or loss made by the company after deducting all expenses from revenue. Once you have calculated the net income for Sleepy Futon Incorporated and Happy Turtle Transporters Incorporated, you can move on to calculating the tie ratio. The tie ratio measures the ability of a company to meet its interest obligations. It is calculated by dividing the earnings before interest and taxes (EBIT) by the interest expense. Find the EBIT for each company. EBIT is the operating profit of a company before deducting interest and taxes. Calculate the EBIT for Sleepy Futon Incorporated and Happy Turtle Transporters Incorporated separately. By comparing the income statements and calculating the tie ratio for Sleepy Futon Incorporated and Happy Turtle Transporters Incorporated, you will have a better understanding of their financial performance and ability to meet their interest obligations.
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Understanding, managing, and enforcing a union contract is known as Contract negotiations Pas prictice Mediation Contract administration Cointract or 2
anisisit
Contract administration is the understanding, managing, and enforcing of a union contract. This process is critical as it plays a crucial role in maintaining good relations between employers and employees as well as ensuring that the terms of the union contract are well implemented and followed.Contract administration refers to the process of managing and enforcing a union contract.
The contract is a legally binding agreement between employers and employees that spells out the terms and conditions of employment, including wages, hours, benefits, and other working conditions.Contract administration entails a variety of tasks, including:- Ensuring that all terms and conditions of the contract are being followed- Resolving disputes and grievances that may arise between employers and employees- Communicating with union representatives and members on behalf of management- Handling issues related to discipline,
termination, and layoffs- Managing the negotiation and renewal of union contracts as they expire.The importance of contract administration:Contract administration is a crucial part of maintaining good labor relations between employers and employees. Proper contract administration can help to ensure that both parties are meeting their obligations under the contract and can help to prevent disputes from arising.
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A portfolio has three stocks - 130 shares of Yahoo (YHOO), 230 shares of General Motors (GM), and 70 shares of Standard and Poor's Index Fund (SPY). If the price of YHOO is $20, the price of GM is $20, and the price of SPY is $130, calculate the portfolio weight of YHOO and GM. A. 15.2%,25.4% B. 16%,28.2% C. 11.2%,26.8% D. 12%,14,1%
A portfolio that consists of three stocks has 130 shares of Yahoo (YHOO), 230 shares of General Motors (GM), and 70 shares of Standard and Poor's Index Fund (SPY).
The price of YHOO is $20, the price of GM is $20, and the price of SPY is $130. We have to find out the portfolio weight of YHOO and GM.
Let's calculate it here;
The total amount of shares = 130 + 230 + 70 = 430
Yahoo's total value = 130 × $20 = $2,600
GM's total value = 230 × $20 = $4,600
Portfolio weight of YHOO = (Yahoo's total value / Total value of portfolio) × 100%
Portfolio weight of YHOO = ($2,600 / ($2,600 + $4,600 + $9,100)) × 100%
Portfolio weight of YHOO = ($2,600 / $16,100) × 100%
Portfolio weight of YHOO = 16.1491%
Portfolio weight of GM = (GM's total value / Total value of portfolio) × 100%
Portfolio weight of GM = ($4,600 / ($2,600 + $4,600 + $9,100)) × 100%
Portfolio weight of GM = ($4,600 / $16,100) × 100%
Portfolio weight of GM = 28.5714%
Therefore, the portfolio weight of YHOO and GM is (A) 15.2%, 25.4%.
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Suppose you have a 10 year zero-coupon bond. Zero-coupon bond makes payments only in the end of its maturity period (in this case in year 10). Determine what would be percentage change in the value of the bond if its own yield-to-maturity increased by 1 percent. The only additional information you need to answer this question is the current bond yield-to-maturity which is 5%.
Select one:
O a. Bond value will decrease by 9.52 percent
O b. Bond value will decrease by 5 percent
O c. Bond value will increase by 5 percent
Od.Bond value will increase by 9.52 percent
A 10-year zero-coupon bond is a bond that pays a lump sum after ten years. The bondholder earns no periodic interest from the bond during the life of the bond.
Because of this, the bond's worth is the same as the current value of the total sum payable at maturity. The bond's value is calculated using the present value formula, which is as follows:
PV = (FV)/(1 + r)^n,
where PV represents the bond's current value, FV represents the bond's face value, r represents the discount rate, and n represents the number of years the bond has been held. To calculate the percentage change in the bond's value when its own yield-to-maturity increases by 1 percent, we must first use the bond's current yield-to-maturity to calculate its present value.
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Risk aversion is best explained by constant marginal utility of incomé. increasing marginal utility of income. decreasing marginal utility of income. timidity.
Risk aversion is best explained by decreasing marginal utility of income. A person who has decreasing marginal utility of income will be more risk-averse because they will experience less pleasure or satisfaction for each additional dollar they earn.
This makes them less willing to take risks because the potential gain does not outweigh the potential loss. This concept is related to the diminishing marginal utility of income, which states that the more income you have, the less each additional dollar is worth to you.
Furthermore, when a person has a lot of wealth, they are less likely to take risks that could jeopardize their current situation. People who are risk-averse are more likely to choose safe investments with low returns rather than high-risk, high-reward investments.
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Best Company Partial Balance Sheets Debit Accounts Cash Acount receivable Inventory Credit accounts Account payable Allowance for doubful accounts
as of December 31
2022
$42,000
70,000
30,000
$60,000
2,250
2021
$33,750
60,000
24,000
$72,000
1,500
Additional information for 2022 : Net income was $2,500 Bad debt expense was $5,400. Sales was $530,000 Write off was $4,650 What is the amount of cash received from customer diring A )$5/5,350 B) $524,850 C) $534,150 D) $530,250.
Calculation of Cash received from Customers for the year 2022 is given below: Calculation of Net credit sales for the year 2022 = Gross Sales - Sales Return Net credit sales for the year.
2022 = $530,000 - $4,650Net credit sales for the year 2022 = $525,350
Calculation of Average Account Receivables for the year 2022 =
(Opening Balance + Closing Balance) / 2Average Account Receivables for the year
2022 = ($60,000 + $70,000) / 2Average Account Receivables for the year 2022 = $65,000
Calculation of Receivables turnover ratio for the year 2022 = Net Credit Sales / Average
Account Receivables Receivables turnover ratio for the year 2022 = $525,350 / $65,000
Receivables turnover ratio for the year 2022 = 8.078
Assuming that all credit sales are on account and the collection of accounts receivable is evenly distributed throughout the year. Calculation of Cash received from Customers for the year 2022 = Net Credit Sales / Receivables turnover ratio Cash received from Customers for the year
2022 = $525,350 / 8.078Cash received from Customers for the year
2022 = $64,950 , the correct option is A) $5,350.
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Which of the following is not one of the reporting standards of GAAS that guides auditors in formulating the audit opinion?
A. The financial statements have followed GAAP.
B. Consistency in the application of GAAP.
C. Adequate disclosures exist in the statements.
D. Gathering sufficient audit evidence to warrant an opinion.
A. The financial statements have followed GAAP. GAAP itself is not a reporting standard under GAAS but rather a set of accounting principles.
The correct option is A. The financial statements have followed GAAP. While GAAP (Generally Accepted Accounting Principles) provides the framework for preparing financial statements, it is not one of the reporting standards of GAAS (Generally Accepted Auditing Standards). The other options, B, C, and D, are all reporting standards of GAAS. These standards guide auditors in ensuring consistency in the application of GAAP, verifying adequate disclosures, and gathering sufficient audit evidence to form an opinion on the financial statements.
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for
2020, calculate the cash flow from the assets
cash flow to creditors
cash flow to shareholders
Use the following information for Wal-mart inc., (assume the tax rate is \( 34 \% \) ) For 2020 , calculate the cash flow from assets, cash flow to creditors, and cash flow to shareholders
Tax rate=34%Wal-mart Inc.Calculation of Cash Flow from Assets (CFFA):The cash flow from assets (CFFA) is a calculation that reflects the net cash inflow or outflow from the purchase and sale of a business's fixed and current assets.Cash Flow to Shareholders = Dividends Paid - Net New Equity Raised= $6.414 billion - $0.405 billion= $6.009 billion.
The cash flow from assets formula is:CFFA = Operating Cash Flow - Net Capital Spending - Change in Working CapitalOperating cash flow for Wal-Mart can be calculated by subtracting the operating expenses and taxes from the sales revenue.Operating Cash Flow = Sales Revenue - Operating Expenses - Taxes= 524.009 - 491.244 - 12.761= $19.004 billionNet Capital Spending:It is the amount spent on capital assets minus the amount received from the sale of capital assets.Net Capital Spending = Capital Expenditure - Depreciation= 10.308 - 8.936= $1.372 billionChange in Working Capital:The amount of change in the working capital is calculated by deducting the current working capital from the previous working capital.
Change in Working Capital = Current Working Capital - Previous Working Capital= 4.511 - 4.689= -$0.178 billion.
Cash flow from assets:CFFA = Operating Cash Flow - Net Capital Spending - Change in Working Capital= $19.004 billion - $1.372 billion - (-$0.178 billion)= $20.554 billion.
Calculation of Cash Flow to Creditors:Cash flow to creditors shows the net amount of money outflow from the company to pay the interest and principal to creditors and debtholders.Cash Flow to Creditors = Interest Paid - Net New Borrowing.Interest Paid:It is the amount that the company paid as interest on its outstanding debt.Interest Paid = Operating Income × (1 - Tax Rate) × Interest Expense Ratio= 25.756 × (1 - 0.34) × 100%= $16.991 million .
Net New Borrowing:It is the amount of money borrowed by the company less the amount repaid by the company.
Net New Borrowing = New Long Term Debt Issued - Long Term Debt Repaid= $3.578 billion - $3.119 billion= $0.459 billion
Cash Flow to Creditors:Cash Flow to Creditors = Interest Paid - Net New Borrowing= $16.991 million - $0.459 billion= -$0.442 billion.
Calculation of Cash Flow to Shareholders:Cash flow to shareholders represents the net amount of money outflow from the company to pay dividends to shareholders.Cash Flow to Shareholders = Dividends Paid - Net New Equity Raised.
Dividends Paid:It is the total amount of dividends paid by the company to its shareholders during the period.Dividends Paid = Dividend per Share × Number of Shares Outstanding= $2.16 × 2.967 billion= $6.414 billion
Net New Equity Raised:It is the amount of money raised by the company through the issuance of new equity less the amount used for share buybacks.
Net New Equity Raised = Common Stock Issued - Common Stock Repurchased= $0.481 billion - $0.076 billion= $0.405 billion.
Cash Flow to Shareholders:Cash Flow to Shareholders = Dividends Paid - Net New Equity Raised= $6.414 billion - $0.405 billion= $6.009 billion.
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Determine whether the following statements are true or false and in either case briefly explain why. (a) Assume the CAPM holds. Two stocks A and B have the same Beta, but stock A has a much higher idiosyncratic risk than stock B. This means that stock A must have a higher expected return than B to reward risk-averse investors for holding the additional risk.(b) Assume that a risk-free asset, as well as two risky securities, exists in the economy. If the risky securities are perfectly positively correlated with each other, diversifying among the two will not make a greedy risk-averse investor better off. Hint: it may be worth drawing a diagram to clarify your point.
The statement is false because even as CAPM suggests that the expected return of an asset is determined by its beta, it does not consider idiosyncratic risk.
Do higher idiosyncratic risk stocks always have higher expected returns?The CAPM which assumes that an asset's expected return is determined by its beta, does not incorporate idiosyncratic risk. Therefore, even if stock A has a much higher idiosyncratic risk than stock B, it does not imply that stock A must have a higher expected return to reward risk-averse investors for holding the additional risk.
As such, the CAPM primarily focuses on systematic risk which is captured by beta and assumes that investors are only concerned with market risk. Therefore, it is a false statement.
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Ruff Games, Inc., wishes to acquire a controlling interest in Smart Toy Company by buying its stock. Smart Toy is
A an alien corporation.
B an acquiring corporation.
C a receiver.
D a target corporation.
Smart Toy Company can be classified as a D, a target corporation. When Ruff Games, Inc. aims to acquire a controlling interest in Smart Toy Company by purchasing its stock, Smart Toy Company becomes the target of the acquisition. In this scenario, Ruff Games, Inc. is the acquiring corporation, as mentioned in option B.
To provide some more information, a target corporation is the entity that is being sought after for acquisition or takeover. It is the company that another organization wants to gain control over by buying its stock or shares. The acquiring corporation, on the other hand, is the entity that is seeking to gain control over another company through the acquisition process.To summarize, the correct answer is D, a target corporation, as Smart Toy Company is the company that Ruff Games, Inc. wants to acquire.
In this case, Ruff Games, Inc. intends to acquire a controlling interest in Smart Toy Company, indicating that Smart Toy Company is the target corporation. It's important to note that an alien corporation (option A) refers to a company incorporated under the laws of a foreign country, which is not applicable in this context. Similarly, a receiver (option C) typically refers to a person or entity appointed by a court to manage the affairs of a bankrupt company, which is also not relevant here .To summarize, the correct answer is D, a target corporation, as Smart Toy Company is the company that Ruff Games, Inc. wants to acquire.
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In a defined contribution plan, a formula is used that ensures that employers are at risk to make sure funds are available at retirement. defines the benefits that the employee will receive at the time of retirement. requires an employer to contribute a certain sum each period based on the formula. ensures that pension expense and the cash funding amount will be different.
In a defined contribution plan, a formula is used that requires an employer to contribute a certain sum each period based on the formula. This formula defines the contribution that the employee will receive at the time of retirement. This means that the employer is responsible for making sure that funds are available at retirement, thus being at risk.
The defined contribution plan is also referred to as an individual account plan. Under this plan, both the employee and the employer contribute to an account that will fund the employee's retirement. The amount of contribution is based on the formula that has been set out by the employer. This means that the contribution will vary depending on the employer's ability and the plan's objectives.In a defined contribution plan, the employer is only required to contribute a certain amount at regular intervals.
Once the employee retires, the employer's contribution is used to purchase an annuity or a series of payments for the employee. This means that the pension expense and the cash funding amount will be different. The pension expense is the total amount that the employer will pay out to the employee over their retirement period. The cash funding amount, on the other hand, is the actual amount that the employer contributes to the account at each interval.Under this plan, the employee is responsible for making investment decisions for the contributions made to their account. This means that the employee will bear the risk of any investment losses.
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Why Women Entrepreneurs Are Attracted to Small Business. Really dig into this and tell me not only why, but what you think.
Women entrepreneurs have made great strides in business in recent years. Although women still own fewer businesses than men, their numbers are increasing.
Women-owned businesses have increased by 58 percent since 2007. In the United States, women now own more than 11.6 million businesses, employing nearly 9 million people and generating more than $1.7 trillion in revenue.Women entrepreneurs are often attracted to small businesses for several reasons. One is the flexibility that comes with owning a small business. Women can work from home, set their own hours, and balance their business and family responsibilities.
This is particularly important for mothers who want to be available to their children. Small businesses also offer women the chance to work in industries that they enjoy or are passionate about, rather than being limited by gender stereotypes.Women entrepreneurs are also drawn to small businesses because they offer opportunities for growth and advancement.
In a small business, women can have a greater impact and make decisions that affect the future of the company. They can also learn new skills and take on new responsibilities that they might not have in a larger organization. This can be particularly important for women who want to start their own business but lack the experience or education to do so. Starting a small business allows women to gain the experience and knowledge they need to succeed.
Moreover, small businesses often provide greater financial freedom and independence. Women entrepreneurs can set their own prices and choose their own clients, allowing them to earn more money than they would in a traditional job. They also have the potential to grow their businesses and become more profitable over time.
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the blank step in the selling process is often stressful for salespeople, since one of the possible outcomes is that the salesperson goes away empty-handed.
The closing step in the selling process is often stressful for salespeople, since one of the possible outcomes is that the salesperson goes away empty-handed.
The closing step is the final stage in the selling process where the salesperson seeks to obtain a commitment from the prospect to make a purchase. This step involves asking for the sale and addressing any remaining objections or concerns the prospect may have. The salesperson's goal is to secure a positive outcome, such as the prospect agreeing to purchase the product or service.
However, the closing step can be challenging and stressful for salespeople due to the uncertainty surrounding the outcome. Despite their best efforts, there is always a possibility that the prospect may decline the offer or choose not to move forward with the purchase. This outcome can leave the salesperson empty-handed, without a sale or commission.
The stress arises from the pressure to achieve sales targets, meet quotas, and maintain a successful track record. The fear of rejection and the potential for disappointment can create anxiety during the closing step.
Skilled sales professionals learn to manage this stress by developing effective closing techniques, building rapport with prospects, addressing objections, and maintaining a positive mindset throughout the process.
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Complete question is:
the ____________ step in the selling process is often stressful for salespeople, since one of the possible outcomes is that the salesperson goes away empty-handed.
3- In a car maintenance workshop, as a manager how can you plan and control and the department's budget? Please explain what activates you may need to do for each one of them (planning and controlling). 4- Check form the internet about a successful company which applies the budgeting activates to improve their financial income and how it was applied. Max. one page. 5- Write a conclusion in one paragraph about what you have learnt from
Planning and controlling the budget in a car maintenance workshop As a manager of a car maintenance workshop, planning and controlling the department's budget is an important task.
Planning entails making predictions and setting financial targets, while controlling involves monitoring expenses and ensuring they align with the set targets.
The following are some of the activities involved in planning and controlling the budget:
Planning activities
Setting realistic targets: The first step in planning is to create achievable financial goals that align with the workshop's overall mission.
Developing an action plan: This involves defining the strategies, activities, and tasks required to achieve the set targets.
Setting a budget: The manager should prepare a detailed budget that outlines the expenses and revenue of the workshop. This budget should cover the short-term and long-term financial objectives.
Monitoring and controlling activities Comparing actual expenses to budget: This helps to identify deviations from the budget and adjust where necessary.
Controlling expenses: The manager should review the expenses and identify ways to reduce unnecessary costs.
Ensuring compliance: The manager should ensure that all departments comply with the budget and adopt cost-saving measures. Example of a successful company that applies budgeting activities to improve financial income
To improve financial income, many companies adopt budgeting activities that help control expenses. An excellent example is McDonald's, which implemented a budgeting activity to optimize its costs and boost profitability.
McDonald's implemented an innovative strategy called Plan to Win that targeted five key areas: People, Products, Place, Price, and Promotion. It is, therefore, crucial for companies to adopt cost-saving measures and strategies that will optimize their expenses and improve profitability.
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According to Adam Smith, the free-market economy is organised and built upon the human rationality of advancing their self-interest. However, social commentators and critics of neo-liberal (free market) economics are deeply concerned with the moral philosophy underpinning the capitalist economic system. According to these critics, the Global Finance Crisis is a testimony of the unfettered greed promoted by the neo-liberal economics[1]. By endorsing the free market - the invisible hand, do you think Adam Smith also promotes greed? Discuss using a Toulmin model
According to these critics, the Global Finance Crisis is a testimony of the unfettered greed promoted by neo-liberal economics. By endorsing the free market, the invisible hand, Adam Smith does not promote greed.
He is merely of the opinion that individuals pursuing their own self-interests can end up benefiting society as a whole. But critics of free-market economics such as Michael Sandel, on the other hand, argue that it degrades social cohesion and reinforces inequalities. In this answer, the Toulmin Model is discussed. Toulmin's model consists of six elements: claim, grounds, warrant, backing, qualifier, and rebuttal.
1. ClaimAdam Smith did not promote greed by endorsing the free market.
2. GroundsAdam Smith's endorsement of the free market is based on his belief that the market is self-regulating and that individuals pursuing their self-interest will eventually benefit society as a whole.
3. Warrant Adam Smith's endorsement of the free market is based on his belief in the power of the invisible hand.
4. BackingThe backing for Adam Smith's endorsement of the free market is the observation that societies that have adopted free-market policies have generally been more prosperous than those that have not.
5. QualifierIt is possible to interpret Smith's endorsement of the free market as promoting greed, but this is a misinterpretation of his position.
6. RebuttalCritics argue that the free-market system degrades social cohesion and reinforces inequalities. However, Smith believes that the self-interests of individuals can end up benefiting society as a whole, which is not the same as promoting greed.
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According to these critics, the Global Finance Crisis is a testimony of the unfettered greed promoted by neo-liberal economics. By endorsing the free market, the invisible hand, Adam Smith does not promote greed.
He is merely of the opinion that individuals pursuing their own self-interests can end up benefiting society as a whole. But critics of free-market economics such as Michael Sandel, on the other hand, argue that it degrades social cohesion and reinforces inequalities. In this answer, the Toulmin Model is discussed. Toulmin's model consists of six elements: claim, grounds, warrant, backing, qualifier, and rebuttal.
1. ClaimAdam Smith did not promote greed by endorsing the free market.
2. GroundsAdam Smith's endorsement of the free market is based on his belief that the market is self-regulating and that individuals pursuing their self-interest will eventually benefit society as a whole.
3. Warrant Adam Smith's endorsement of the free market is based on his belief in the power of the invisible hand.
4. BackingThe backing for Adam Smith's endorsement of the free market is the observation that societies that have adopted free-market policies have generally been more prosperous than those that have not.
5. QualifierIt is possible to interpret Smith's endorsement of the free market as promoting greed, but this is a misinterpretation of his position.
6. RebuttalCritics argue that the free-market system degrades social cohesion and reinforces inequalities. However, Smith believes that the self-interests of individuals can end up benefiting society as a whole, which is not the same as promoting greed.
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