Purdue Pharma's L.P. COSO and COBIT framework for internal control
In response to the question, Purdue Pharma, the creator of OxyContin, is responsible for promoting its drug as non-addictive to doctors and the general public. Pardue Pharma’s L.P. COSO and COBIT framework for internal control are as follows:
COSO framework
The COSO framework was developed to assist companies in developing and monitoring their internal control systems. The COSO framework includes five components, which are as follows:
1. Control Environment: This includes the company's control environment, management's approach to risk management, and the company's culture.
2. Risk Assessment: Risk assessment is the process of identifying potential risks and assessing the likelihood of their occurrence.
3. Control Activities: Control activities are policies and procedures designed to ensure that risk mitigation strategies are effective.
4. Information and Communication: Information and communication refer to the systems used to ensure that the company's internal controls are functioning effectively.
5. Monitoring: Monitoring involves the company's monitoring process to ensure that the internal controls are functioning correctly.
COBIT framework
The COBIT framework is a process-driven framework for IT governance and management. COBIT provides a framework for the development of policies and procedures, as well as the management of IT systems. COBIT focuses on the following five key areas:
1. Planning and Organisation: This includes the development of policies and procedures, as well as the management of IT systems.
2. Acquisition and Implementation: This involves the acquisition of IT systems and the implementation of those systems.
3. Delivery and Support: This involves the delivery of IT services and the support of those services.
4. Monitoring and Evaluation: This includes the monitoring of IT systems and the evaluation of their performance.
5. Review and Improvement: This involves the review of IT systems and the implementation of improvements.
Purdue Pharma has failed to follow the COBIT and COSO framework, which has led to the OxyContin scandal. The company's lack of oversight and internal controls allowed it to misrepresent its product, OxyContin, as a safe and non-addictive painkiller. As a result, thousands of people have become addicted to the drug, leading to a public health crisis.
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Suppose a company will issue new 25-year debt with a par value of $1,000 and a coupon rate of 11%, paid annually. The issue price will be $1,000. The tax rate is 35%. If the flotation cost is 5% of the issue proceeds, then what is the after-tax cost of debt? Disregard the tax shield from the amortization of flotation costs. Round your answer to two decimal places.
What if the flotation costs were 11% of the bond issue? Round your answer to two decimal places.
Flotation cost is the total cost that a company incurs when it issues new securities like bonds or common stock.
It is basically the cost of raising new capital.
Let us compute the after-tax cost of debt in both cases.
First Case:
When the flotation cost is 5% of the issue proceeds,
then the total flotation cost is as follows:
Total Flotation Cost = 5% × $1,000,000= $50,000
The net proceeds that a company will get will be
$1,000,000 - $50,000 = $950,000.
The company has to pay a coupon rate of 11%.
Hence the annual payment will be:
Annual Payment = Coupon Rate × Par Value = 11% × $1,000 = $110
Since the tax rate is 35%, the after-tax cost of debt will be:
After-tax Cost of Debt = [Annual Payment ÷ (Net Proceeds × (1 - Tax Rate))] + [(Flotation Cost ÷ Net Proceeds)] = [($110 ÷ ($890,000 × (1 - 0.35)))] + [($110,000 ÷ $890,000)]≈ 0.1499 or 14.99%
the after-tax cost of debt when the flotation cost is 5% is 12.65%,
and the after-tax cost of debt when the flotation cost is 11% is 14.99%.
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Which of the following is NOT a best practice associated with social media marketing? Multiple Choice Set clearly defined and measurable goals. Do not identify which social networks you will isse. Obtain senior manogement commitment Realize that mistakes will be made.
The practice that is NOT associated with social media marketing is Do not identify which social networks you will use. Let's explain the options below:Set clearly defined and measurable goals:
Setting clear, precise, and measurable goals is the first step to creating a successful social media marketing campaign. It will provide the direction you need to create and execute a campaign that meets your company's goals and objectives.
A social media campaign can have a variety of objectives, such as increasing brand awareness, driving traffic to your website, or increasing your followers.Do not identify which social networks you will use: Before starting a social media campaign, it is essential to identify the social media channels that your target audience uses.
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Which of the following describe conditions under which a natural monopoly may emerge?
I. High fixed costs create barriers to entry
II. Marginal cost exceeds average cost
III. Long-run average total cost decreases as output increases
1. I
2. I and III
3. II and III
4. I, II, and III
A natural monopoly is a type of monopoly that emerges when a single firm is able to serve the entire market demand for a product or service at a lower cost than any potential competitor. The conditions under which a natural monopoly may emerge are:
High fixed costs create barriers to entry The high fixed cost of investment in infrastructure can be a significant obstacle for new entrants to the market, which may discourage them from competing with an established natural monopoly. As a result, the existing natural monopoly is able to maintain its position in the market.
Marginal cost exceeds average costIf marginal cost exceeds average cost, the natural monopoly will be able to operate more efficiently than any potential competitor. This is because the natural monopoly is able to produce and sell at a lower cost than its competitors.
Long-run average total cost decreases as output increases As output increases, the natural monopoly will be able to spread its fixed costs over a larger volume of production.
This leads to a decrease in the average total cost per unit, which further strengthens the natural monopoly's position in the market.
In conclusion, the conditions that describe under which a natural monopoly may emerge are high fixed costs creating barriers to entry, marginal cost exceeding average cost, and long-run average total cost decreasing as output increases. Therefore, the correct option is 4. I, II, and III.
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With regard to Design 2.0, the statement "Achieve High Velocity Outcomes" is listed in which line of effort (LOE)?
In Design 2.0, the statement "Achieve High Velocity Outcomes" aligns with the line of effort (LOE) focused on "Agile and Iterative Design Processes." This LOE emphasizes the adoption of agile methodologies and iterative design approaches to drive rapid and efficient outcomes in the design process.
The objective of "Achieve High Velocity Outcomes" is to streamline the design workflow by enabling quick decision-making, reducing bottlenecks, and promoting a faster pace of progress.
It involves breaking down complex design tasks into smaller, manageable components that can be executed and reviewed in shorter iterations.
By employing techniques such as rapid prototyping, iterative testing, and continuous feedback loops, this LOE aims to accelerate the design cycle and enhance overall productivity.
Furthermore, "Achieve High Velocity Outcomes" also fosters a culture of innovation and adaptability within the design team. It encourages a mindset of experimentation, risk-taking, and learning from failures, thereby enabling continuous improvement and the ability to swiftly respond to changing requirements or user feedback.
By prioritizing speed and agility, this LOE ensures that the design process remains dynamic, responsive, and capable of delivering high-quality outcomes within shorter timeframes, ultimately leading to increased efficiency and customer satisfaction.
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Management of Carla Vista, a biotech firm, forecasted the following growth rates for the next three years: 35 percent, 28 percent, and 22 percent. Management then expects the company to grow at a constant rate of 9 percent forever. The company paid a dividend of $1.50 last week. If the required rate of return is 22 percent, what is the value of this stock? (Round intermediate colculations and final onswer to 2 decimal ploces, es. 15.20.) Value of stock 5
The value of the stock, according to the given growth rates and required rate of return, is approximately $15.62.
To calculate the value of the stock, we can use the dividend discount model (DDM) which takes into account the future dividends and the required rate of return.
The formula for the DDM is as follows:
Value of Stock = Dividend / (Required Rate of Return - Growth Rate)
Given that the dividend paid last week was $1.50 and the required rate of return is 22 percent, we can calculate the value of the stock as follows:
First, let's calculate the future dividends for the next three years using the given growth rates:
Year 1: Dividend = $1.50 * (1 + 35%) = $2.03
Year 2: Dividend = $2.03 * (1 + 28%) = $2.60
Year 3: Dividend = $2.60 * (1 + 22%) = $3.17
Now, we can calculate the value of the stock:
Value of Stock = $2.03 / (0.22 - 0.09) + $2.60 / (0.22 - 0.09) + $3.17 / (0.22 - 0.09)
Value of Stock = $2.03 / 0.13 + $2.60 / 0.13 + $3.17 / 0.13
Value of Stock ≈ $15.62
Therefore, the value of the stock, according to the given growth rates and required rate of return, is approximately $15.62.
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The interest rate on the financial calculator is expressed as a
percentage.
represents a dollar value.
decimal.
non-negative number always.
A financial calculator is a gadget that is utilized in computing the financial situations of loans, investments, and savings. The device is efficient in solving different financial problems and is thus a valuable tool for financial analysts, bankers, and investors.
The interest rate on a financial calculator is expressed as a percentage. This percentage represents the interest rate to be paid on a loan or the amount of interest earned on an investment.
In simple terms, an interest rate is the cost of borrowing money, and it is expressed as a percentage of the borrowed amount. Thus, if you borrow $100 at an interest rate of 5%, you will be required to pay back $105 at the end of the loan term.
The interest rate percentage is usually converted into a decimal format when computing the financial scenario. A decimal is a numeric representation of a percentage. Thus, an interest rate of 5% would be expressed as 0.05 in decimal format. This is done to make it easier to compute the financial scenario using a financial calculator.
The dollar value is another term that is relevant to the financial calculator. This term represents the amount of money involved in a financial scenario. For example, if you are calculating the interest on a loan of $5000, then the dollar value would be $5000.
A non-negative number always means that the value being computed cannot be less than zero. This term is used to avoid negative values that would make no sense in a financial scenario.
In conclusion, a financial calculator is an essential tool in computing different financial scenarios. It is important to understand the terms used in the calculation process, including interest rates, dollar value, decimal, and non-negative numbers.
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Which of the follow is not a component of an option premium? Intrinsic Value Risk Value Time Value All of the above are components of an option premium
The answer to the question is - All of the above are components of an option premium. An option premium is the cost paid to acquire an option contract.
An option is a derivative instrument that provides its holder with the right, but not the obligation, to buy or sell an underlying asset or instrument at a specific price on or before a specific date.
A premium is the price paid by the buyer of an option to the seller of an option for the right to purchase or sell the underlying asset at the agreed-upon price until the option's expiration date.
The option premium consists of three parts, each of which contributes to the overall cost of the option contract: intrinsic value, risk value, and time value. Intrinsic value is the difference between the stock's current market price and the option's strike price, as well as the value that an option would have if it expired immediately.
Risk value refers to the price of the option if it were to be exercised. The risk value is determined by the underlying asset's price volatility. Time value is the cost of the option contract's additional time to expiration. It represents the amount of time between the option's purchase and its expiration.
Thus, the answer to the given question is that all of the above are components of an option premium.
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ariances, Entries, and income statement summiry of Glendare Compary's manufacturing varance report for Wry 2016 followh tandard material cost per unit of product is 0.5 pounds at 37.40 per pound and standard direct labor cost is 1.5 hours at 313.00 per hour. The total actui materials cotr represents 4.500 pound urchased at 17.70 per pound. Fotal actual labor cout represents 14.200 hours at 312.60 per hour. Ascording to standaros, variatle onerhtad rate is applied at 30.70 per direct labor hour (bused o ormat capacty of 15.000 direct labor hours or 10,000 units of product. Assume that al foed ovethesd is appled to work in progress inventory. Determine the following variances: b. Prepare general joumal entries to record standard costs, actual costs, and related variances for material, labor, and overhead. goods inventoryl. d. Prepare a partial income satement (through gross profit on sales) showing gross profit based on standard costs the incorporation of variances, and gross profit based en actual co Do not use negative signs with any of your answers below.
The answer for the first part is , the overhead variance is $-6,254,800$ which is Unfavorable.
How to find?Total actual materials cost = $4,500$ pounds purchased at $17.70$ per pound.
Total actual labor cost = $14,200$ hours at $312.60$ per hour.
Standard variable overhead rate is applied at $30.70$ per direct labor hour (based on format capacity of $15,000$ direct labor hours or $10,000$ units of product.
Overhead Variance = $(14,200 \times 30.70) - (1.5 \times 14,200 \times 312.60)$
Overhead Variance = $435,740$ - $6,690,540$
Overhead Variance = $-6,254,800$Unfavorable
a) Material Cost Variance = $-11.50$
Direct Labor Variance = $156.90$
Overhead Variance = $-6,254,800$
b) General Journal Entries Account Titles
Debit
Credit
1. Raw Material Inventory - Actual Cost$79,650
Cash$79,650(4,500 pounds × $17.70/pound)
2. Work in Process Inventory - Standard Cost$171,550
Raw Material Inventory - Standard Cost$173,500
Material Cost Variance$1,9503.
Work in Process Inventory - Standard Cost$469,500
Salaries and Wages Payable$469,500(1,500 hours × $313/hour)
4. Work in Process Inventory - Standard Cost$460,050
Variable Overhead$460,050
(14,200 hours × $30.70/hour)
5. Variable Overhead$435,740
Variable Overhead Efficiency Variance$435,740(14,200 hours - 10,000 hours) × $30.70/hour
6. Variable Overhead
$6,690,540
Variable Overhead Spending Variance$6,690,540($30.70/hour × 14,200 hours) - ($312.60/hour × 14,200 hours)
c) Total Standard Cost = (Direct Material + Direct Labor + Variable Overhead)
Total Standard Cost = ($17.70 + $313 + $30.70)
Total Standard Cost = $361.40
Cost of Goods Manufactured = (Direct Material + Direct Labor + Variable Overhead + Fixed Overhead)
Cost of Goods Manufactured = ($79,650 + $469,500 + $460,050 + $175,000)
Cost of Goods Manufactured = $1,184,200
Gross Profit = Sales - Cost of Goods Sold
Gross Profit = $2,205,000 - $1,184,200
Gross Profit = $1,020,800
d) The partial income statement (through gross profit on sales) showing gross profit based on standard costs the incorporation of variances, and gross profit based on actual cost is shown below.Sales$2,205,000Cost of Goods Sold
Direct Material Cost$79,650
Direct Labor Cost$469,500
Variable Overhead$460,050
Fixed Overhead$175,000
Total Standard Cost$1,184,200
Direct Material Cost Variance$1,950
Direct Labor Cost Variance($156.90)
Variable Overhead Variance($6,254,800)
Actual Cost$1,179,193
Gross Profit Based on Standard Cost$1,020,800
Gross Profit Based on Actual Cost$1,025,807
The above shows the partial income statement (through gross profit on sales) showing gross profit based on standard costs the incorporation of variances, and gross profit based on actual cost.
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The business that I am working on is currently located in Italy but I want to expand the business and move it to United States too. So, I have to research on the US context specifically on Boston market area for the business. These are the potential customers that the business currently have on Italy.
Pinatas for children (gender neutral)
Women for beads (from 7 to 40, mainly customers of trendy/pop up store, gifts)
House decorators for pillow cases
what will be good research questions for the mentioned topic in the context of US that I need to focus on?
In the second part of this report, each group should identify and explain the research questions that will guide their exploration of sources and data.
In this section, each group will summarize the information related to the research area assigned to the group. Groups will write and report on frameworks and experiences that will form the basis for the groups’ recommendations. When gathering information, groups will assess the quality of the sources, especially online sources. Relevant information will also be provided by the sponsoring organization. The research questions will be around the main variables that you want to include both in the PESTEL model and in business model. This second section of the Discovery Report should include the following: For each Research Question please specify:
List of sources of information used;
Brief summary of these resources (articles, websites, etc.);
Some good research questions that you can focus on for your business expansion to the US market, specifically in Boston:
What are the cultural differences between Italy and the US when it comes to pinatas?What are the popular themes for pinatas in the US?What are the best marketing channels to reach parents of young children in Boston?How to come up with the questions ?Some other questions include:
What are the competitive landscape for pinatas in Boston?What are the potential challenges of expanding the pinata business to the US?Women for beads (from 7 to 40, mainly customers of trendy/pop up store, gifts):
What are the popular trends in beading in the US?What are the best marketing channels to reach women in Boston who are interested in beading?What are the competitive landscape for beading supplies in Boston?House decorators for pillow cases:
What are the popular trends in home decorating in Boston?What are the best marketing channels to reach house decorators in Boston?What are the competitive landscape for pillow cases in Boston?For each research question, you should specify the following:
List of sources of information used: This could include articles, websites, books, government data, or interviews.Brief summary of these resources: This should include a brief overview of the information that you found in each resource.Find out more on research at https://brainly.com/question/28206725
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Hotel Decent has a fixed cost of $100,000 and a variable cost of $10/night. Assuming that the room rent for the hotel was $35/night: What is the Contribution per Unit?What is the Break Even Point?Assuming that the hotel rents out 6,000 rooms per night at $35/night, then using the same fixed cost and variable cost as the previous two questions:How much would the Total Revenue be?How much would the total variable cost be?How much profit does the hotel make?
There are total revenue would be $210,000. The total variable cost would be $60,000. The profit would be $50,000.
The donation is $35 - $10 = $25 per unit.
Divide the fixed cost by the contribution per unit to determine the break-even point. The break-even figure in this scenario is $100,000 / $25, or 4,000 nights.
The total revenue would be $210,000 (6,000 x $35) if the hotel rents out 6,000 rooms each night at $35 each.
With 6,000 times $10, the total variable cost would be $60,000.
The total expense in this scenario would be $160,000 ($100,000 + $60,000). The profit would therefore be $50,000 ($210,000 - $160,000).
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Which of the following is not considered to be a source of demand for money? Select one: a. Interest demand b. Transactions demand c. Speculative demand d. Precautionary demand
The correct answer is a. Interest demand. Interest demand is not considered to be a source of demand for money.
What is Demand for Money?
Demand for money refers to the amount of cash or cash equivalents that an individual, company, or country wants to hold for daily transactions, speculative, and precautionary purposes.
Various reasons exist for holding money, with each individual or institution holding money for different motives.
The Demand for Money Comes from Three Sources
The demand for money can come from three sources, namely, transactions, precautionary, and speculative motives.
All of the following except interest demand are classified as sources of demand for money.
Transactions DemandThis refers to the demand for money used to make purchases of goods and services.
This type of money demand arises due to the need to settle transactions by using cash.
For example, a firm that purchases raw materials or merchandise from its suppliers would need to pay in cash.
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Selected current year-end financial statements of Cabot Corporation follow. (All sales were on crecit; selected balance sheet amount: at December 31 of the prior year were inventory, \( \$ 47,900 \),
The answer to this question is that the current year-end financial statements of Cabot Corporation Sales Revenue are $5,634,800. Also, the retained earnings as of December 31 of the current year were $3,237,900. The total assets and stockholders' equity were $6,831,300 and $4,037,900, respectively.
Cabot Corporation is an American speciality chemical and performance materials company based in Boston, Massachusetts.
Below are the current year-end financial statements of the Cabot Corporation. All sales were on credit; selected balance sheet amount:
On December 31 of the prior year was inventory, $47,900.
Current Year-End Financial Statements Sales
Revenue - $5,634,800
Cost of Goods Sold - $4,550,600
Gross Profit - $1,084,200
Operating Expenses Selling Expenses - $340,600
Administrative Expenses - $448,400
Total Operating Expenses - $789,000
Income from Operations - $295,200
Other Revenues and GainsGain on Sale of Land - $45,000
Interest Revenue - $28,800
Other Expenses and LossesInterest Expense - $20,000
Income before Income Tax - $348,000
Income Tax Expense - $86,700
Net Income - $261,300Statement of Changes in Stockholders' Equity Common Stock, $10 par value Authorized - 300,000
sharesIssued - 80,000 shares - $800,000
Retained Earnings, January 1 - $3,134,600
Net Income - $261,300Less:
Dividends - $158,000Retained Earnings, December 31 - $3,237,900
Balance Sheet Assets Current Assets Cash - $277,000
Short-term Investments - $104,000
Accounts Receivable - $1,181,400
Inventory - $56,700
Prepaid Expenses - $68,200
Total Current Assets - $1,687,300
Long-term Investments - $224,000
Buildings - $2,880,000
Accumulated Depreciation-Buildings - $(1,080,000)
Equipment - $2,200,000
Accumulated Depreciation-Equipment - $(800,000)
Total Property, Plant, and Equipment - $4,920,000
Total Assets - $6,831,300
Liabilities and Stockholders' Equity Current Liabilities Accounts Payable - $1,195,200
Accrued Liabilities - $99,800
Income Taxes Payable - $36,600
Current Maturities of Long-Term Debt - $80,000
Total Current Liabilities - $1,411,600
Long-Term Debt - $1,040,000
Total Liabilities - $2,451,600
Stockholders' EquityCommon Stock - $800,000
Retained Earnings - $3,237,900
Total Stockholders' Equity - $4,037,900
Total Liabilities and Stockholders' Equity - $6,831,300
Therefore, the answer to this question is that the current year-end financial statements of Cabot Corporation Sales Revenue are $5,634,800. Also, the retained earnings as of December 31 of the current year were $3,237,900. The total assets and stockholders' equity were $6,831,300 and $4,037,900, respectively.
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Compute the payback period for each of these two separate investments: 0. A new operating system for an existing machine is expected to cost $260.000 and have a useful ife of five years. The system ylelds an incremental after-tax income of $75,000 each year after deducting its straight-line depreciation. The predicted salvage value of the system is $10,000 b. A machine costs $180,000, has a $14,000 salvage value, is expected to last nine years, and will generate an after-tax income of $41,000 per year after straight -line depreciation
The payback period for Investment 1 is 3.33 years, and the payback period for Investment 2 is 4.05 years.
Payback period is an essential concept in capital budgeting which represents the time needed for an investment's income flows to recover its initial cash outflow. The payback period is widely used to measure the risk associated with an investment, where longer payback periods indicate a higher risk. A shorter payback period, on the other hand, is favorable since it allows for a quicker recovery of the initial investment.
Investment 1:New operating system
Cost = $260,000
Salvage Value = $10,000
Useful life = 5 years
Annual incremental after-tax income = $75,000
Payback Period = Initial Investment / Annual Cash Flows
Payback period = ($260,000 - $10,000) / $75,000
Payback period = $250,000 / $75,000
Payback period = 3.33 years
Therefore, the payback period for Investment 1 is 3.33 years.
Investment 2:
Machine
Cost = $180,000
Salvage Value = $14,000
Useful life = 9 years
Annual incremental after-tax income = $41,000
Payback Period = Initial Investment / Annual Cash Flows
Payback period = ($180,000 - $14,000) / $41,000
Payback period = $166,000 / $41,000
Payback period = 4.05 years
Therefore, the payback period for Investment 2 is 4.05 years.
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explain repo agreement
11. Explain: a repurchase agreement is a transaction that actually plays out short-term interest rates at long-term interest rates and assumes that bond prices do not move "too much" between the start
A repurchase agreement, also known as repo, refers to a short-term money market instrument that is used for borrowing and lending short-term funds between dealers in government securities. In this agreement, the borrower of funds agrees to sell securities to the lender and repurchase them at an agreed-upon date and price. A repo transaction essentially allows the borrower to acquire short-term funds in exchange for collateral security.
How a repurchase agreement works
The borrower, which is often a dealer in government securities, agrees to sell securities to the lender and repurchase them at an agreed-upon date and price. The lender provides the funds required to purchase the securities.
The difference between the repurchase price and the purchase price is the interest earned by the lender for lending the funds. Since the agreement is usually short-term, the interest rate charged for borrowing the funds is often lower than other short-term rates.
The borrower of funds enters into a repo transaction when it needs funds for a short period, usually overnight, to finance its position in the government securities market. On the other hand, the lender may enter into a repo transaction as an alternative investment opportunity.
Overall, the repo agreement plays out short-term interest rates at long-term interest rates and assumes that bond prices do not move "too much" between the start and the end of the agreement.
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Which of the following balanced scorecard perspecilves cesentially asks, "Can wo conthue to lmprove and create value?" A. Customer B. Leaming and growth C. Financial D. Intemal business Which of the following balanced scorecard perspectives essentially asks, "Can we continue to improve and create value?" A. Customer B. Learning and growth C. Financial D. Intemal business
The required answer to this question is the balanced scorecard perspective that essentially asks, "Can we continue to improve and create value?" is B. Learning and growth.
The balanced scorecard is a strategic management tool that organizations use to measure and track their performance across multiple perspectives. These perspectives include the customer, learning and growth, financial, and internal business.
The learning and growth perspective focuses on the organization's ability to improve and develop itself to support long-term success and create value. It addresses questions such as:
Can we continue to learn and acquire new knowledge and skills?
Are we fostering a culture of innovation and continuous improvement?Are we developing our employees' capabilities and providing them with opportunities for growth?Are we effectively managing our organizational knowledge and leveraging it for future success?By examining these aspects, organizations can assess their capacity to adapt, innovate, and enhance their capabilities over time. This perspective is crucial because it provides insights into the organization's readiness to respond to changes in the market, technology, or competitive landscape.Learn more about balanced scorecard here : brainly.com/question/30827907
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1. How does a single-price monopoly determine the price it will chargeits customers?2. What is the relationship between price,marginal revenue, and marginal cost when a single-pricemonopoly is maximizing profit?
A single-price monopoly determines the price it charges based on the relationship between price, demand, and marginal cost. It selects the quantity that equates MR and MC to maximize profit and uses the demand curve to determine the price that corresponds to this quantity.
A single-price monopoly determines the price it will charge its customers by considering the relationship between price, demand, and marginal cost. The goal of a monopoly is to maximize its profits. To achieve this, it analyzes the demand curve for its product and the corresponding price that customers are willing to pay at different levels of output. The monopolist aims to set a price that maximizes its total revenue.
The monopolist determines the quantity it will produce and sell by equating marginal revenue (MR) and marginal cost (MC). MR represents the change in total revenue resulting from selling one additional unit, while MC represents the change in total cost due to producing one more unit. The monopolist continues producing until MR equals MC, as this is the point where profit is maximized.
To determine the price, the monopolist refers to the demand curve. It sets the price that corresponds to the quantity determined by equating MR and MC. The monopolist knows that charging a higher price will result in lower demand and vice versa. It must strike a balance to maximize profit by selecting the price and quantity combination where MR equals MC.
When a single-price monopoly is maximizing profit, there is a specific relationship between price, marginal revenue, and marginal cost. At the profit-maximizing level of output, the monopolist sets the price that corresponds to the quantity where MR equals MC.
In terms of the relationship between price and marginal revenue, it is important to note that for a monopolist, the marginal revenue curve lies below the demand curve. This is because the monopolist can only increase sales by lowering the price for all units sold, which reduces the revenue gained from selling additional units. As a result, the monopolist faces a downward-sloping marginal revenue curve.
When maximizing profit, the monopolist chooses the quantity where MR equals MC. At this point, the marginal cost curve intersects the marginal revenue curve, providing the monopolist with the profit-maximizing quantity. The monopolist then uses the demand curve to determine the price that corresponds to this quantity.
In summary, a single-price monopoly determines the price it charges based on the relationship between price, demand, and marginal cost. It selects the quantity that equates MR and MC to maximize profit and uses the demand curve to determine the price that corresponds to this quantity.
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There is a debate about increasing inequality in the United States, other rich countries and also developing countries over the last 45 years or so. One person who have made a significant contribution to that debate is Thomas Piketty of France. In his 2013 book "Capital in the 21st Century" Piketty stated that the reason why inequality was rising was because the growth in the value of wealth held by the rich, such as stocks and housing, rises faster over time than economic growth -- thus the rich get richer. Piketty in 2019 wrote another book "Capital and Ideology" (Links to an external site.) in which he discusses participatory socialism and much much more. There is a wide range of responses about what to do about inequality, if anything, ranging from Piketty's proposal for a global redistribution of wealth via a wealth tax and cash transfers to the poor, to encouraging the creation of more small businesses, to simply allowing the free enterprise system to continue to function, with perhaps some steps to reduce concentration of industries. An aspect of inequality in the United States is race -- one way in which that has been institutionalized is described in this PPT. Please read the materials above. Discuss inequality and what if anything you consider would be an appropriate approach to mitigate it. Include data from an outside academic-level reference to support your reasoning.
According to Thomas Piketty, the inequality in wealth arises due to the faster growth rate of the value of wealth held by the rich, such as stocks and housing, compared to the economic growth rate, which means the rich continue to get richer. While he suggests a global redistribution of wealth via a wealth tax and cash transfers to the poor as a way of mitigating inequality,
other suggestions include encouraging the creation of more small businesses or allowing the free enterprise system to continue functioning, but with steps to reduce the concentration of industries. This PPT describes how one way that racial inequality has been institutionalized in the US.
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blank and blank sized businesses are often better prepared for the global market because they are able to react more quickly to opportunities.
Small and medium-sized businesses (SMEs) are often better prepared for the global market because they are able to react more quickly to opportunities.
Small and medium-sized businesses have certain advantages that allow them to be more agile and responsive in the global market. Compared to larger corporations, SMEs have less bureaucracy and fewer layers of decision-making, which enables them to make quicker decisions and take advantage of market opportunities. They have the flexibility to adapt their products or services to meet the demands of different markets and respond promptly to changing customer needs. Additionally, SMEs often have closer relationships with their customers and suppliers, allowing for faster communication and collaboration. These factors contribute to their ability to react swiftly and seize opportunities in the global market.
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1) Define a Subgame and Subgame Perfect Equilibrium
Subgame: A subgame is a stage of the game that starts at a certain point in the original game and continues to the end of the game.
Subgame Perfect Equilibrium: A subgame perfect equilibrium is a refinement of a Nash equilibrium in which players choose their optimal strategies at each stage of every subgame in a game, not just in the initial stage.
A subgame is a stage of the game that begins at a certain point in the original game and continues to the end of the game. A subgame can be any subset of the original game, including the whole game.
A subgame perfect equilibrium is a refinement of a Nash equilibrium in which players choose their optimal strategies at each stage of every subgame in a game, not just in the initial stage.
In other words, subgame perfect equilibrium is a strategy that, once implemented, is optimal at each subsequent stage in a game, given that all players play optimally at every subsequent stage.
Subgame perfect equilibrium is the most stringent solution concept for dynamic games, and it is used to determine the credible threats and promises in a game. It is frequently used in the analysis of dynamic games in economics and game theory.
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Because of the ident it relates to net exports, the in U.S. net exports is matched by in U.S. net capital outflow. Which of th i example of how the United States might be affected in this scenario? Check all that apply. An open economy interacts with the rest of the world through involvement in world financial markets, and also world markets for goods and services. Despite the fact that this involvement often results in an imbalance in these markets, the following identity must hold: Net Capital Outflow
=
Net Exports That is, any transaction that affects the left side of this equation must also affect the right side. The following problem provides a scenario that illustrates why this identity must remain true. Suppose you independently contract as a software developer living in the United States, and you just sold a license for your latest program to a Belgian consumer for EUR 5,000. direction of change is "No change," enter "
O
" in the Magnitude of Change column. Hint: The magnitude of change should always be positive, regardless of the direction of change. Determine the effects of this transaction on exports, imports, and net exports in the U.S. economy, and enter your results in the following table. If the direction of change is "No change," enter "O" in the Magnitude of Change column. Hint: The magnitude of change should always be positive, regardless of the direction of change. Because of the identity equation that relates to net exports, the in U.S. net exports is matched by in U.S. net capital outflow. Which of the following is an example of how the United States might be affected in this scenario? Check all that apply. You store the euros in your safety deposit box at home. You buy EUR 5,000 worth of Eurobonds. You purchase EUR 5,000 worth of stock in a Belgian corporation. Because of the identity equation that relates to net exports, the in U.S. net exports is matched by in U.S. net capital outflow. Which of the following is an example of how the United
t
be affected in this scenario?
The following is an example of how the United States might be affected in this scenario: You store the euros in your safety deposit box at home, buy EUR 5.000 worth of Eurobonds and purchase EUR 5,000 worth of stock in a Belgian corporation. The correct options are a, b, and c.
An open economy interacts with the rest of the world by participating in global marketplaces for products and services as well as global financial markets. Even though it frequently results in an imbalance in these marketplaces, the following identities must be maintained:
Net Capital Outflow = Net Exports
Direction of change Magnitude of change
Exports Increase 5000
Imports No change 0
Net Exports Increase 5000
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Standard costing and variance analysis are financial control systems that enable the deviations from budget to be analyzed in detail, thus allowing costs to be controlled more effectively.
Explain, with suitable examples, the types of cost standards, their usefulness, and the nature and importance of typical variances computed in management accounting.
Standard costing and variance analysis Standard costing is the predetermined cost that the organization expects to incur on materials, labor, and overheads.
A standard cost card is the document that displays the details of the standard cost for a particular item. Variance analysis, on the other hand, involves determining the difference between actual costs incurred and standard costs and analyzing the reasons for the difference.Types of Cost StandardsThere are three types of cost standards. These are Ideal standards, Attainable standards, and Basic standards.
Ideal standards are standards that reflect a situation where all the resources used in production are perfect and the production process is performed by skilled and experienced employees with no idle time. These standards are usually quite hard to achieve and are often used for motivational purposes.
Attainable standards are standards that are achievable but will require a reasonable amount of effort. These standards take into account the real-world constraints of production, such as human error and machine downtime.Basic standards, on the other hand, are standards that are based on current levels of production and reflect current trends in the industry.
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Question 15 ACME Incorporated issued a 10 year, 6%,$340,000 note payable to finance the construction of a new building on August 31,2021 . The terms provide for semiannual instalment payments on February 28 and August 31. Required: Prepare the journal entries to record the first and second instalment payments assuming the payment is a blended payment of $11,240. (Round to two decimal places).
$334,900 - $5,620 = $329,280 on February 28, 2022.
Journal entries to record the first and second installment payments assuming the payment is a blended payment of $11,240 are as follows: Explanation: Loan amount = $340,000
Interest rate per semi-annual period = 6%/2 = 3%
Payment per semi-annual period = $11,240/2 = $5,620
Journal entry to record the first installment payment on February 28, 2022: Date Accounts Debit Credit Feb. 28Interest expense ($340,000 × 3%)5,100
Note payable5,620Cash11,720(To record the first semi-annual installment payment on note payable)
Journal entry to record the second installment payment on August 31, 2022: Date Accounts Debit Credit Aug. 31Interest expense ($334,900 × 3%)5,023.50
Note payable5,620Cash11,643.50(To record the second semi-annual installment payment on note payable)
Note that the note payable balance is calculated as follows:$340,000 - $5,620 = $334,900 on August 31, 2021.
$334,900 - $5,620 = $329,280 on February 28, 2022.
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Plot and describe the evolution of GDP for both Turkey and United Kingdom for the period between 2000 and the most recent data available (it will be typically 2021 or possibly 2022 Q1, depending on the time series you choose; if you cannot find the data for the early 2000 s, start when you can). Notice that you have various choices regarding what to plot (level vs. growth rates, real vs. nominal, annual vs. quarterly, total vs. per capita). It is up to you what to choose. Explain briefly, why you chose that measure. There's no "right" choice, but you may find one measure easier to discuss than another. For example, in a country with high inflation, the nominal GDP will appear - well - "inflated" by inflation, hiding its real dynamics, but for a country with low inflation, or for short periods, the difference may not matter. Chose the same measure for both countries, or you will be comparing apples and oranges. Describe in your own words the evolution of GDP in these two countries and any interesting features that are worth emphasizing either in one or the other country individually or comparing them (trends, growth changes, cycles, effects of one or another crisis, recessions, etc.).
GDP or Gross Domestic Product is a measure of the monetary value of a country’s total output of goods and services within a particular period of time.
The evolution of GDP in Turkey and the United Kingdom between 2000 and 2021 or 2022 Q1 can be presented through several measures: level vs. growth rates, real vs. nominal, annual vs. quarterly, and total vs. per capita. In this answer, we will consider the real GDP on an annual basis per capita for both countries.Real GDP per capita is the best measure to compare the economic growth of two different countries.
Real GDP per capita is calculated by taking into account the inflation of the country. Therefore, it provides the value of a country's economic output that accounts for its number of people.The United Kingdom experienced a slight decline in real GDP per capita from 2008 to 2009. This recession was primarily attributed to the 2008 financial crisis. After this, there was an increase in GDP per capita until the Brexit vote in 2016.
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A system in which people trade goods they don't want to consume for goods they do want to consume is called O A. a commodity money system. В. a barter system. C. an indirect exchange economy. D. a fiat money system.
A system in which people trade goods they don't want to consume for goods they do want to consume is called a barter system. Barter system is a method of exchange that involves the direct exchange of goods and services without the use of money as a medium of exchange.
In a barter system, the goods or services are traded without the involvement of money. Goods and services are exchanged for other goods and services directly. Barter system was in use for more than 100 years before the invention of money.
There are several disadvantages to a barter system that led to the introduction of currency, such as difficulty in finding a person to exchange with, difficulty in determining the value of goods and services, and lack of durability. Money was introduced as a medium of exchange to address these shortcomings. It is a commodity that is universally recognized as valuable, making it easier to exchange goods and services.
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Project 2: Post these transaction under QB 1. RJ Started Business with 10000 Bank 2. Took loan from Mr. Lee 15000 Cash 3. Took loan from Ms. Meera 5000 Cash 4. Took loan from TD Bank 25000, transferred to his account 5. Truck is bought and paid 17000 by cheque 6. (Rent of Machinery is paid by cash $1500 ) 7. $5500 Revenue is generated by cash 8. Owner invested $8000 by cash in business 9. Salary paid to staff $2100 by cheque 10. Donation of $250 paid by cheque to Canada Welfare Society 11. Depreciation $1700 on Truck 12. Salary due but not paid till 31 st dec $1750 13. Serivce Revenue is Generated $7400 by chq 14. Advertisement Expenditure paid by cash $350 15. Owner purchased Laptop worth $700 paid by chq
RJ started with $10,000 deposit, took loans, bought a truck, paid expenses, generated revenue, invested, and made donations using QuickBooks.
Here are the transactions posted under QuickBooks for the given project:
1. RJ started the business by depositing $10,000 into the bank account.
2. RJ took a loan of $15,000 from Mr. Lee, received in cash.
3. RJ took a loan of $5,000 from Ms. Meera, received in cash.
4. RJ took a loan of $25,000 from TD Bank, which was transferred to his account.
5. A truck was purchased for $17,000 and paid by cheque.
6. Rent for machinery was paid in cash, amounting to $1,500.
7. Revenue of $5,500 was generated in cash.
8. The owner invested $8,000 in cash into the business.
9. Staff salaries amounting to $2,100 were paid by cheque.
10. A cheque payment of $250 was made as a donation to Canada Welfare Society.
11. Depreciation of $1,700 was recorded on the truck.
12. An amount of $1,750 for staff salaries is due but not paid until December 31st.
13. Service revenue of $7,400 was generated and received by cheque.
14. An advertisement expenditure of $350 was paid in cash.
15. The owner purchased a laptop worth $700, paid by cheque.
These transactions reflect the financial activities of the business and can be accurately recorded in QuickBooks for proper bookkeeping and financial management.
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Eggs in a certain country are traded in a competitive market. They are [6]
produced by domestic farmers and by farmers in a neighboring country.
Suppose that the government bans imports of eggs. State and illustrate
graphically whether each of the following will increase, decrease, or stay
the same: (i) market price, (ii) total market quantity of eggs, (iii) domestic
egg production.
Eggs are produced by farmers from both the domestic and neighboring countries. Suppose the government in the certain country bans egg imports. Let us illustrate graphically whether the market price, total market quantity of eggs, and domestic egg production will increase, decrease, or remain the same.
Market Price When the government of a country bans the importation of eggs, this leads to an increase in the demand for domestic eggs since it's the only product available in the market. This implies that there will be a shift in the demand curve from D1 to D2.
As a result, the equilibrium price of eggs will increase from P1 to P2. Therefore, the market price will increase. Total Market Quantity of Eggs The total market quantity of eggs will depend on how the shift in the demand curve compares to the supply curve.
If the shift in demand exceeds the shift in supply, then the total market quantity of eggs will increase. This will result in the market equilibrium point shifting from E1 to E2, and the quantity of eggs in the market will increase from Q1 to Q2. Therefore, the total market quantity of eggs will increase.
Domestic Egg Production The domestic egg production will depend on the price increase of eggs. An increase in the price of eggs implies that there will be an increase in the profit that domestic farmers make for every egg they produce.
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Nipigon Manufacturing has a cost of debt of 9 %, a cost of equity of 11%, and a cost of preferred stock of 10%. Nipigon currently has 120,000 shares of common stock outstanding at a market price of $25 per share. There are 49,000 shares of preferred stock outstanding at a market price of $38 a share. The bond issue has a face value of $950,000 and a market quote of 106. The company’s tax rate is 40%.
Required:
Calculate the weighted average cost of capital for Nipigon. You must show and clearly label all calculations to receive full marks. You can enter your calculations in the space provided below or you can upload them to the drop box provided in the Assignments area.
Weighted Average Cost of Capital (WACC)WACC is the weighted average of the cost of equity, debt, and preferred stock. Nipigon Manufacturing Company is given with cost of debt, cost of equity and cost of preferred stock.
Thus, we can find the weighted average cost of capital using the following formula:WACC = (E/V x Re) + (D/V x Rd) × (1 – Tc) + (P/V x Rp)Where, E = Market value of the company's equity, D = Market value of the company's debt, P = Market value of the company's preferred stock, V = Total capital invested in the company, Re = Cost of equity, Rd = Cost of debt, Rp = Cost of preferred stock, Tc = Corporate tax rate.
Given that the company has:Cost of debt = 9%Cost of equity = 11%Cost of preferred stock = 10%Common stock outstanding = 120,000Preferred stock outstanding = 49,000Bond issue face value = $950,000Bond issue market price = 106Corporate tax rate = 40%Market price of common stock = $25Market price of preferred stock = $38We have to find out the weighted average cost of capital (WACC).
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Please discuss major differences between aggregate capacity
planning and short-term scheduling
Aggregate capacity planning and short-term scheduling are two critical aspects of production planning and control. Both concepts are interconnected, yet they differ in some ways. Here are the major differences between the two:
Aggregate capacity planning : Aggregate capacity planning is an approach that determines the overall production capacity a business needs to satisfy the demand for its products or services over an extended period. The primary aim of aggregate capacity planning is to align the production capacity of the firm with its long-term strategic goals by balancing supply and demand.
Short-term scheduling : Short-term scheduling, on the other hand, is a method used to establish a detailed plan for carrying out specific production activities. It is a process that outlines the daily or weekly schedules for the production activities of a business. The primary objective of short-term scheduling is to balance capacity and demand by determining the number of products or services that the organization can produce in the short term.
Summary : In conclusion, aggregate capacity planning focuses on long-term planning by aligning supply and demand, while short-term scheduling focuses on daily and weekly scheduling to ensure that the organization can meet demand in the short term. Both concepts are essential in ensuring that production runs smoothly. However, they differ in terms of scope and time horizon.
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The renowned artist Pablo Picasso created hundreds of paintings and sculptures as well as drawings and sketches numbering in the thousands. He is said to have settled restaurant bills by producing sketches on the spot. (a) What effect does the existence of this large body of work have on the price (increase or decrease) of individual pieces of his art? (b) Might his heirs suffer financially from being bequeathed too many of his works? As the heirs’ financial advisor, what strategy would you advise them to pursue in selling pieces of his work (sell all the paintings at once or sell them one at a time over several months (or years))? Please explain
2. Since people are not charged an explicit price for public goods like national defense, is a public good (like national defense) a free good for the public?
(a) The existence of a large body of work can have different effects on the price of individual pieces of his art.
One of the effects is that it can increase the price of individual pieces of his art. When Picasso died, it was estimated that he had produced around 50,000 works of art. This can cause the price of individual pieces of his art to decrease. This is because there are many works of art available in the market, and collectors may not be willing to pay a premium for a single work of art.
(b) Picasso's heirs might suffer financially from being bequeathed too many of his works. This is because, as stated earlier, there is an abundance of his works, and the market may not be able to absorb all of them. However, as the heirs' financial advisor, the strategy that I would advise them to pursue in selling pieces of his work would be to sell them one at a time over several months (or years).
2. National defense is not a free good for the public. Although people are not charged an explicit price for national defense, it is still not a free good. This is because the cost of national defense is borne by taxpayers. The government collects taxes from citizens to finance the defense of the nation.
The cost of national defense is not free, even though the public is not charged an explicit price for it.
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No Game Corp. issued $6000 in principle of 4.625% 5-year junior notes. Investors paid par to purchase the bonds and $300 issuance costs were paid directly from the proceeds of the bond sale. What is the journal entry required to record the issuance of the debt?
Select all that apply:
Cr. Debt payable $5700
Cr. Common Stock at Par $300
Dr. Cash $5700
Dr. Cash $6000
Dr. Discount on debt payable $300
Dr. Bond issuance expense $300
Cr. Debt Payable $6000
--------
Notes: Since this is paid at par, a bond sale (non-amortizing debt), would the answer be
Dr. Cash $6000
Cr. Debt Payable $6000
The journal entry required to record the issuance of the debt by No Game Corp. would be as follows: Dr. Cash $6000, Cr. Debt Payable $6000
This entry reflects the receipt of cash from the investors in the amount of $6000, which represents the proceeds from the bond sale. The corresponding credit is made to the Debt Payable account, which represents the liability created by the issuance of the bonds.
In this scenario, the bonds were sold at par, which means they were issued and purchased at their face value. Therefore, there is no need to record any discount or premium on the debt payable.
The other options listed in the question are not applicable to this situation. There is no common stock involved in the issuance of debt, so the entry for Common Stock at Par is not required. Similarly, the Debt Payable account is already credited for the full amount of $6000.
So there is no need to credit it again for a different amount. Finally, the issuance costs of $300 are deducted from the cash proceeds, but they are not recorded separately in this journal entry.
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