Suppose that entry into the industry changes this firm's demand schedule from columns (1) and (3) to columns (2) and (3). Economic profit will decrease. This is because when a firm enters an industry, it increases competition and reduces the market power of existing firms.
The change in demand schedules reflects a shift in the market as a result of increased competition. The change in the demand schedule means that the demand curve is shifting to the left. When the demand curve shifts to the left, it means that consumers are willing to buy less of the product at a given price.
As a result of the decreased demand, the price of the product will decrease. This means that the firm will have to sell more units of the product to make the same amount of profit as before. However, the increased competition will also make it harder for the firm to sell more units of the product, as there are now more firms selling the same product.
Therefore, the firm's economic profit will decrease due to the lower price and increased competition. The change in demand schedules is a reflection of the market conditions after entry, and the firm must adjust its strategy to remain competitive.
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Which of the following is a negative effect of a "cap and trade" system?
a. It will not have an effect on production of pollution.
b. Areas with higher concentrations of older plants will still experience a lot of pollution, as many of the permits will be bought by those plants.
c. It costs the government money to run the system.
d. Companies feel it is too punitive and do not want to participate in it.
Out of the following options, "Areas with higher concentrations of older plants will still experience a lot of pollution, as many of the permits will be bought by those plants" is a negative effect of a "cap and trade" system. What is Cap and Trade System?
The Cap and Trade System is a regulatory approach that puts a cap on the number of greenhouse gas emissions that a company can emit. This helps to combat global climate change. This system reduces the quantity of emissions by putting a price on pollution. The industry can then decide whether to reduce emissions or pay to pollute. There are some negative effects of this system which are discussed below:
Negative effect of Cap and Trade System: Areas with higher concentrations of older plants will still experience a lot of pollution, as many of the permits will be bought by those plants. Out of the following options, "Areas with higher concentrations of older plants will still experience a lot of pollution, as many of the permits will be bought by those plants" is a negative effect of a "cap and trade" system. What is Cap and Trade System?
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1) From your experience, explain which
two leadership skills you believe are
important for an effective leader to
have (without including
communications)
2) Also, describe
which of the leadership skil1) From
your experience, explain which two
leadership skills you believe are
important for an effective leader to
have (without including
communications)
Here are some of
the Leadership Skills identified by
Students in MGMT 201:
Empowerment
Trust
• Development
• Support-
Confidence
• Participative in Key
Actions Passionate
• Approachable-
Humble
• Self-Improvement by Leader
• Flexible
• Visionary Intuitive
•Proactive to Change
• Caring
• Team
Player
• Negotiator
• Networking
•Empathetic
• lead by Example
1) Two important leadership skills that are crucial for an effective leader to have, excluding communication skills, are:
a) Empowerment: Effective leaders understand the importance of empowering their team members. They delegate responsibilities and authority, giving individuals the autonomy to make decisions and take ownership of their work. By empowering their team, leaders foster a sense of trust, motivation, and engagement, which leads to higher productivity and job satisfaction. Empowered employees are more likely to be innovative, take risks, and contribute positively to the organization's success.
b) Visionary: A visionary leader possesses the ability to articulate a compelling vision for the future and inspire others to share in that vision. They have a clear sense of direction and are able to communicate their goals and aspirations effectively. By sharing their vision, leaders motivate their team members, align their efforts towards a common purpose, and create a sense of unity and shared purpose. Visionary leaders also exhibit strategic thinking, anticipate future trends, and make informed decisions that steer the organization towards long-term success.
2) Among the leadership skills mentioned, one that stands out is:
c) Trust: Trust is a vital leadership skill that builds strong relationships and fosters a positive work environment. Effective leaders prioritize trust-building by demonstrating honesty, integrity, and reliability in their actions. They establish an environment where team members feel comfortable sharing their ideas, concerns, and feedback. Trust allows for open communication, collaboration, and effective teamwork. When team members trust their leader, they are more likely to be engaged, committed, and willing to go the extra mile to achieve shared goals. Trust is the foundation for strong leadership and high-performing teams.
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A firm has the production function
f(E) = 20 log(E)
where E is employment. The firm operates in a market with labor supply curve E = 10w. The firm acts as a price taker in the product market where the price of its output is p = 2.
1. Find the firm’s value of marginal product (VMPE) curve.
2. Suppose the firm acts as a wage taker in the labor market. Find the equilibrium wage and employment level, and worker surplus.
3. Suppose the firm acts as a monopsonist in the labor market. Find its marginal cost of employment (MCE), and the new employment level, wage, and worker surplus.
4. Suppose the government imposes a minimum wage of w = 2 on the monopsonist from part 3. Find the new employment level and worker surplus. Did employment increase or decrease relative to part 3? Why
The value of marginal product of labor (VMPL) is the derivative of the production function with respect to employment (E). We can find VMPL as follows:
VMPL = d(f(E))/dE = d(20log(E))/dE = 20(1/E) = 20/E
So, the firm's value of marginal product (VMPE) curve is VMPE = p * VMPL = 2 * (20/E) = 40/E.
When the firm acts as a wage taker in the labor market, it takes the equilibrium wage (w) determined by the labor supply curve E = 10w. To find the equilibrium wage and employment level, we equate labor demand (from VMPL) to labor supply:
VMPL = w
20/E = 10w
Solving these equations, we find:
E = 2
w = 1/4
The equilibrium employment level is 2 and the equilibrium wage is 1/4. To find worker surplus, we calculate the area under the labor supply curve and above the equilibrium wage:
Worker Surplus = (1/2) * (1/4) * 2^2 = 1/2
When the firm acts as a monopsonist in the labor market, it has market power and can influence the wage. To maximize its profits, it will hire labor until the marginal cost of employment (MCE) equals the VMPL.
MCE = w * (1 - VMPL/VMPE)
= w * (1 - (20/E) / (40/E))
= w * (1 - 1/2)
= w/2
Setting MCE equal to VMPL:
w/2 = 20/E
Solving for the wage, we find:
w = 40/E
Substituting this back into the labor supply curve, we can find the new employment level:
E = 10w = 10(40/E)
E^2 = 400
E = 20
So, the new employment level is 20. The wage can be found by substituting this into the wage equation:
w = 40/E = 40/20 = 2
To calculate worker surplus, we use the new employment level and wage in the labor supply curve equation:
Worker Surplus = (1/2) * (2) * (20)^2 = 400
If the government imposes a minimum wage of w = 2 on the monopsonist, the firm must pay at least that wage. The new employment level can be found by substituting this wage into the labor supply curve:
E = 10w = 10(2) = 20
To find worker surplus, we calculate the area under the labor supply curve and above the minimum wage:
Worker Surplus = (1/2) * (2) * (20)^2 = 400
Compared to part 3, the employment level remains the same at 20. The minimum wage did not affect the monopsonist's hiring decision because the equilibrium wage was already at the minimum wage level. Therefore, employment did not increase or decrease relative to part 3.
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Which of the following terms is used to Describe quantity or amount produced during a given time
Answer:
output
Explanation:
How do you think governments should manage the relationship
between environmental objectives and international trade?
Governments should implement policies that align environmental objectives with international trade through measures like eco-friendly regulations and incentives.
How can governments balance environmental objectives and international trade?To effectively manage the relationship between environmental objectives and international trade, governments should adopt a holistic approach. This involves implementing environmental regulations and standards that promote sustainable practices in industries engaged in international trade. Governments can incentivize businesses to adopt eco-friendly technologies and practices by offering tax breaks, subsidies, and grants. By integrating environmental considerations into trade agreements, governments can encourage responsible and sustainable production and consumption patterns. This approach not only supports environmental objectives but also ensures fair competition and enhances global cooperation towards addressing climate change and other environmental challenges.
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In order to manage the relationship between environmental objectives and international trade, governments should adopt the following strategies: 1. Environmental Impact Assessment (EIA). 2. Governments should also collaborate with international organizations. 3. Governments should use trade agreements to incentivize sustainable production and consumption practices 4. Governments should encourage greater cooperation between environmental and trade institutions.
In order to manage the relationship between environmental objectives and international trade, governments should adopt the following strategies:
1. Environmental Impact Assessment (EIA): Before approving any project or policy that could have an impact on the environment, governments should conduct an EIA to assess its potential impact and propose mitigating measures.
2. Governments should also collaborate with international organizations to ensure that environmental regulations are being followed and to support developing countries in complying with environmental regulations. Trade and environmental policies should also be designed in such a way that they are mutually supportive.
3. Governments should use trade agreements to incentivize sustainable production and consumption practices by promoting the adoption of green technologies and environmentally friendly practices. This can be done through measures such as green procurement policies, investment incentives, and environmental labeling schemes.
4. Governments should encourage greater cooperation between environmental and trade institutions. This would entail greater collaboration between institutions such as the World Trade Organization (WTO), United Nations
Environment Programme (UNEP), and United Nations Conference on Trade and Development (UNCTAD) to address the trade-environment nexus and ensure that environmental objectives are integrated into international trade policy-making.
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Which internal control procedure(s) would best prevent or detect the following threats?
a. A company has developed a unique product that is rather complex to manufacture and that contains a large number of unique components, but its manufacturing is a tedious, time consuming process.
b. The production employee requested additional raw materials not indicated on the bill of materials and asked the inventory control clerk to immediately send over the raw materials without waiting for the proper documentation, claiming that the production run was halted as there was a shortage of those raw materials.
c. A compressor used in production malfunctioned and caused a fire on the production line.
d. The quantities indicated on the materials requisition and the move tickets of raw materials for transfers to the factory were indicated as 3% more than required and the excess arriving at the factory was then sold privately.
e. An engineer accessed the inventory records from the engineering department to update them.
f. Physical work-in-progress inventory counts did not match the records in the production information system.
g. A move ticket was completed by a production employee to illegally obtain raw materials from the storeroom.
h. A staff member in production sent the exact steps for manufacturing a novel item to the production engineer via email, but somehow this information made its way onto a social media platform.
i. An employee entered part number 589974 instead of part number 589947 as being used in the production of a specific item.
j. Expensive equipment required for the production of a new item was purchased directly out of a departmental budget.
k. A fast-fashion clothing manufacturer was forced into having an end-of-season sale to move large quantities of excess stock from its inventory to improve its cash flow.
l. A company developed a new product and required several new staff members to man its production line. Planning was ahead of schedule and it was possible to start production earlier than anticipated. Despite proper planning, there was clear evidence of poor performance on some areas of the production line.
a. Implement a quality control system and continuous monitoring to ensure manufacturing consistency and efficiency.
b. Enforce proper documentation and approval processes for requesting additional raw materials.
c. Perform regular equipment maintenance and inspections to prevent malfunctions.
d. Strengthen inventory control and oversight procedures, including checks on materials requisitions and move tickets.
e. Restrict access to inventory records and require proper authorization for updating them.
f. Conduct regular reconciliation of physical inventory counts with the production information system.
g. Implement stricter access controls and approvals for the issuance of move tickets.
h. Establish a secure communication channel and guidelines for sharing sensitive information internally.
i. Implement data validation and error-checking procedures in the production information system.
j. Enforce proper procurement processes and approvals for the purchase of expensive equipment.
k. Improve demand forecasting and inventory management to avoid overstocking and markdowns.
l. Invest in staff training, supervision, and performance monitoring to ensure optimal performance on the production line.
a. Segregation of duties: Assign different employees to handle different stages of the manufacturing process, to ensure that no single employee has complete control over the entire process. This will help prevent errors and fraudulent activities.
b. Documented procedures: Implement clear procedures for requesting additional raw materials, which include obtaining the necessary approvals and documentation before releasing the materials. This will ensure that all requests are legitimate and help prevent fraudulent requests.
c. Regular equipment maintenance and inspections: Conduct regular inspections and maintenance of all equipment used in production, to identify any potential issues before they cause a fire or other accident.
d. Reconciliation of inventory records: Implement regular reconciliations of inventory records with physical inventory counts, to identify any discrepancies and prevent theft or fraudulent activities.
e. Access controls: Restrict access to inventory records to only those employees who require it for their job responsibilities. This will help prevent unauthorized access and modifications.
f. Regular inventory counts: Conduct regular physical inventory counts to ensure that the records in the production information system are accurate and up-to-date.
g. Segregation of duties: Assign different employees to handle different stages of the raw materials transfer process, to ensure that no single employee has complete control over the entire process. This will help prevent theft or fraudulent activities.
h. Access controls: Restrict access to sensitive information such as manufacturing processes to only those employees who require it for their job responsibilities. This will help prevent unauthorized access and distribution of sensitive information.
i. Double-checking of part numbers: Implement a process where two employees are required to verify the accuracy of part numbers entered in the production process. This will help prevent errors and ensure accurate records.
j. Proper budget controls: Implement proper budget controls, including requiring multiple approvals before making large purchases. This will help prevent unauthorized purchases and ensure that all purchases are legitimate and necessary.
k. Inventory management controls: Implement better inventory management practices, such as forecasting and demand planning, to prevent excess inventory accumulation and improve cash flow.
l. Employee training and performance management: Provide training to employees and establish clear performance expectations to ensure that all staff members are capable of performing their job responsibilities effectively and efficiently. This will help prevent poor performance and ensure quality production.
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Revise the following five sentences to be clearer and more concise:
I am in receipt of your memo requesting an increase in pay and am of the opinion that it is not merited at this time due to the fact that you have worked here for only one month.
We hope to convey the following to our employees: a familiarization with the company's policies, teaching about procedures, and to know what they should do to file complaints if they have any.
In this meeting, our intention is to acquire a familiarization with this equipment so that we might standardize the replacement of obsolete machinery throughout our entire work environment.
In lieu of further discussion, we want to state in the affirmative that what transpired was due to the fact that the vehicle had insufficient braking capabilities to avoid the collision.
Tips:
Read each sentence and think about the main idea of each.
Start with the subject of the sentence when you re-write (this is something you might not always do, but it can help in making the sentence more clear).
Get rid of unnecessary information that is not important to the meaning of the sentence.
Based on your one-month tenure, I find your request for a pay increase unwarranted at this time.
We aim to familiarize employees with company policies, procedures, and the process for filing complaints.
In this meeting, we will familiarize ourselves with the equipment to standardize the replacement of outdated machinery.
We aim to familiarize employees with company policies, procedures, and the process for filing complaints.
Without further discussion, we affirm that the collision occurred due to the vehicle's insufficient braking capabilities.
Tips: Focus on the main idea, start with the subject, and eliminate unnecessary information.
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The market for soda is characterized by the following supply and demand functions: Supply: Qs = 60 + 5p Demand: QD = 120 - 7p, where Qs stands for quantity supplied (number of bottles), QD stands for quantity demand (number of bottles), and p stands for price (per bottle). Without determining the equilibrium price, you know that the equilibrium quantity in the market for soda is bottles.
To find the equilibrium quantity in the market for soda, we need to set the quantity supplied (Qs) equal to the quantity demanded (QD) and solve for Q.
Supply: Qs = 60 + 5p
Demand: QD = 120 - 7p
Setting Qs equal to QD:
60 + 5p = 120 - 7p
Combining like terms:
12p = 60
Dividing both sides by 12:
p = 5
Now that we have found the equilibrium price, we can substitute it back into either the supply or demand equation to find the equilibrium quantity.
Using the demand equation:
QD = 120 - 7p
QD = 120 - 7(5)
QD = 120 - 35
QD = 85
Therefore, the equilibrium quantity in the market for soda is 85 bottles.
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Consider the following 2 period model of optimal schooling with periods P1 (school or work) and P2 (work)
- If they attend school, earn no income in P1, and earn WH in P2.
- If they do NOT attend school, earn income WL in each period.
- At first, there are no costs to schooling, no intrinsic benefits, and people do not discount future earnings.
- "Net Income" refers to total (expected) wage earnings minus any costs paid
( ) If WH = 10 and WL = 7, will they choose school or not?
Set WH, WL and back to arbitrary parameter values (letters not real numbers) and add a cost of schooling C to the model. . Now also suppose that, after schooling, the individual will only get a job paying WH in period 2 with probability J (0 ≤ J ≤ 1), otherwise they get a job at the un-skilled wage WL.
( ) If J = 0, what is the expected wage in the second period if the individual goes to school
( ) If J = 0, the expected wage in the second period, if the individual goes to school, would be WH.
When J = 0, it means that there is no probability of getting a job at the skilled wage (WH) in the second period after attending school. Instead, the individual will always get a job at the unskilled wage (WL) in the second period.
In this scenario, the individual's expected wage in the second period would be the same as the unskilled wage (WL) because there is no chance of obtaining a skilled job. Therefore, the expected wage in the second period, if the individual goes to school when J = 0, would be WL.
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For the following returns calculate the variables indicated:
Stocks Bonds 11 4 9 5 13 1 7 6 a. Mean (stocks) (bonds) b. Variance
(stocks) (bonds) c. Standard deviation (stocks) (bonds) d.
Covariance e
To calculate the variables indicated for the given returns of stocks and bonds, we need to follow several steps. Let's go through each option one by one:
a. Mean (stocks) and (bonds):
To calculate the mean (also known as the average), we sum up all the returns and divide by the total number of returns. For the stocks, we have the following returns: 11, 9, 13, 7. Thus, the mean (stocks) = (11 + 9 + 13 + 7) / 4 = 40 / 4 = 10. For the bonds, we have the returns: 4, 5, 1, 6. Hence, the mean (bonds) = (4 + 5 + 1 + 6) / 4 = 16 / 4 = 4.
b. Variance (stocks) and (bonds):
Variance measures the dispersion or spread of data points around the mean. To calculate the variance, we need to find the squared difference between each return and the mean, sum up those squared differences, and divide by the total number of returns. For stocks, the squared differences from the mean (10) are: (11 - 10)^2, (9 - 10)^2, (13 - 10)^2, and (7 - 10)^2. Adding them up, we get (1 + 1 + 9 + 9) = 20. Dividing this by the total number of returns (4), we get the variance (stocks) = 20 / 4 = 5. For bonds, following the same steps, we have the squared differences: (4 - 4)^2, (5 - 4)^2, (1 - 4)^2, and (6 - 4)^2, which sum up to (0 + 1 + 9 + 4) = 14. Dividing this by the total number of returns (4), we get the variance (bonds) = 14 / 4 = 3.5.
c. Standard deviation (stocks) and (bonds):
The standard deviation is the square root of the variance and represents the average amount of dispersion or variability in the returns. Taking the square root of the variances calculated in the previous step, we find the standard deviation (stocks) = √5 ≈ 2.24 and the standard deviation (bonds) = √3.5 ≈ 1.87.
d. Covariance:
Covariance measures the relationship between two variables and how they move together. To calculate covariance, we need the returns for both stocks and bonds. The returns are: stocks (11, 9, 13, 7) and bonds (4, 5, 1, 6). First, we find the difference between each return and its respective mean for both stocks and bonds. Then, we multiply those differences together and sum them up. Dividing this sum by the total number of returns, we get the covariance. Calculating step by step, we have:
Covariance = [(11-10) * (4-4)] + [(9-10) * (5-4)] + [(13-10) * (1-4)] + [(7-10) * (6-4)]
= (1 * 0) + (-1 * 1) + (3 * -3) + (-3 * 2)
= 0 - 1 - 9 - 6
= -16 / 4
= -4.
In summary, the calculations for the given variables are:
a. Mean (stocks) = 10; Mean (bonds) = 4.
b. Variance (stocks) = 5; Variance (bonds) = 3.5.
c. Standard deviation (stocks) ≈ 2.24; Standard deviation (bonds) ≈ 1.87.
d. Covariance = -4.
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Apollo Company's 12/31/22 statement of financial position reports assets of P5,000,000 and liabilities of P2,000,000. All of Apollo's assets' book values approximate their fair value, except for land, which has a fair value that is P300,000 greater than its book value. On 12/31/22, Twin Corporation paid P5,400,000 to acquire Apollo. What amount of goodwill should Twin record as a result of this purchase? a. P400,000. b. P2.400,000. c. PO.d. P2.100,000
To determine the amount of goodwill recorded by Twin Corporation as a result of the purchase of Apollo Company, we need to calculate the fair value of the net identifiable assets acquired.
Apollo's assets are reported at P5,000,000, and since all assets except for land have book values that approximate their fair values, we can assume that their fair value is also P5,000,000. However, the fair value of land is P300,000 greater than its book value, so the fair value of land is P300,000 + P5,000,000 = P5,300,00The total fair value of Apollo's net identifiable assets is P5,000,000 P5,300,000 = P10,300,000.Twin Corporation paid P5,400,000 to acquire Apollo. To calculate the goodwill, we subtract the fair value of net identifiable assets from the purchase price: P5,400,000 - P10,300,000 = -P4,900,000.Since the result is negative, it means that the fair value of the net identifiable assets acquired exceeds the purchase price. In this case, Twin Corporation would record no goodwill, as indicated by option c. PO.
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Explain the difference between an LP(limited partnerships) and
an LLP(Limited liability partnerships)?
150-200 words typed please
A limited partnership (LP) and a limited liability partnership (LLP) are two types of business structures that differ in their liability, management, and taxation. A limited partnership is a partnership where one or more general partners run the business and are personally liable for the business's debts and obligations.
Limited partners contribute capital but do not participate in the management of the business and are not personally liable beyond the amount of their investment. They only face loss in the form of their initial investment.In contrast, an LLP is a partnership where all partners have limited liability for the business's debts and obligations. This means that each partner is only responsible for their own actions and not those of other partners. Furthermore, LLPs are typically run by all partners, who share equal management responsibilities and liability.The taxation of an LP and an LLP also differs. An LP is not taxed at the partnership level. Instead, profits and losses pass through to the partners, who then report it on their personal tax returns. In an LLP, the business itself is not taxed at the partnership level. Instead, the profits and losses are passed through to the partners who report it on their personal tax returns.In summary, an LP is a business structure where the general partners manage the business and are personally liable, while limited partners contribute capital and have limited liability. An LLP, on the other hand, is a partnership where all partners have limited liability and share management responsibilities and liability. Additionally, LPs and LLPs differ in their taxation, with an LP not being taxed at the partnership level and an LLP's profits and losses being passed through to the partners.
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Involves the review, comparison, and reconciliation of data prepared by other employees. Which of the following principles of internal control does the company follow not follow A Establishment of responsibility B. Segregation of duties D. Physical controls E. Independent internal verification F. Human resource controls C. Documentation procedures 2. Three people handle cash sales from the same cash register drawer. Which of the following principles of internal control does the company followinot follow: D. Physical controls A Establishment of responsibility B. Segregation of duties E. Independent internal verification C. Documentation procedures F. Human resource controls 23 Match the principle of internal control to each of the following cases a) Establishment of responsibility b) Segregation of duties c) Accountability for assets d) Documentation procedures Physical control 1. Cash is locked in a safe overnight 2. Employees who receive shipments of goods do not have access to the accounting records for merchandise. 3. Shipping documents are prenumbered. 4. The bookkeeper does not have physical custody of assets. 5. Only the treasurer of the company can sign checks ACCI110-MODULE & EXERCISE 21 857-1 Match each situation with the fraud triangle factor (opportunity financial pressure. or rationalization) that best describes it (a) An employer's monthly credit card payments are nearly 75% of their monthly earnings. (b) An employee earns minimum wage at a firm that has reported record earnings for each of the last five years. (c) An employee has an expensive gambling habit. (4) An employee has check-writing and-signing responsibilities for a small company and is also responsible for reconciling the bank account. 22 1. Which of the following describes the internal control procedure "assignment of responsibilities"? A) To validate their accounting records, a company should have an audit by an external accountant 8) Separate the custody of assets from accounting C) External auditors monitor internal controls. D) With clearly assigned responsibilities, at important jobs get done 2. Which of the following describes the internal control procedure "separation of duties"? A) Cashiers must not have access to accounting records 8) External auditors will monitor internal controls C) The information system is critical D) Prenumber invoices and other documents 3. Which of the following describes the internal control procedure "proper documents? A) Mandatory vacations improve B) Separate the custody of assets from accounting C) Prenumber invoices and other documents. D) A company should purchase a fireproof vault 4. Employees who receive shipments of goods do not have access to the accounting records for merchandise. Which of the following principles of internal control does the company follow not follo? A D. Physical controls Establishment of responsibility Segregation of duties 8. E Independent internal verification F. Human resource controls C Documentation procedures ひ
The correct description of the internal control procedure "assignment of responsibilities" is: D) With clearly assigned responsibilities, important jobs get done.
The correct description of the internal control procedure "separation of duties" is: A) Cashiers must not have access to accounting records.
The correct description of the internal control procedure "proper documents" is: C) Prenumber invoices and other documents.
The principle of internal control that the company does not follow in the given case is: B) Segregation of duties.
Based on the information provided, the company does not follow the principle of segregation of duties. This is evident in the case where three people handle cash sales from the same cash register drawer, indicating that there is not a clear separation of duties and responsibilities.
To match the principles of internal control to the given cases:
a) Physical control: 1. Cash is locked in a safe overnight.
b) Segregation of duties: 2. Employees who receive shipments of goods do not have access to the accounting records for merchandise.
c) Accountability for assets: 4. The bookkeeper does not have physical custody of assets.
d) Documentation procedures: 3. Shipping documents are prenumbered.
e) Establishment of responsibility: 5. Only the treasurer of the company can sign checks.
Matching the fraud triangle factors to the given situations:
a) Financial pressure: (a) An employer's monthly credit card payments are nearly 75% of their monthly earnings.
b) Rationalization: (b) An employee earns minimum wage at a firm that has reported record earnings for each of the last five years.
c) Financial pressure: (c) An employee has an expensive gambling habit.
d) Opportunity: (d) An employee has check-writing and signing responsibilities for a small company and is also responsible for reconciling the bank account.
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Cat in the Rain
There were only two Americans stopping at the hotel. They did
not know any of the people they passed on the stairs on their way
to and from their room. Their room was on the second flo
The story "Cat in the Rain" by Ernest Hemingway begins with two Americans staying at a hotel who are unfamiliar with the other guests. Their room is located on the second floor.
In the opening lines of "Cat in the Rain," Hemingway establishes the setting and introduces the main characters, two Americans. The story takes place at a hotel where the Americans are staying temporarily. The narrative mentions that the Americans do not know any of the people they encounter while walking up and down the stairs to their room. This suggests a sense of detachment and unfamiliarity with their surroundings and fellow guests.
By emphasizing the Americans' lack of acquaintance with others in the hotel, Hemingway creates an atmosphere of isolation and detachment. It also sets the stage for the events to come and highlights the Americans' limited social interactions during their stay.
The mention of their room being on the second floor is a simple detail that adds to the overall description of the hotel. It provides a sense of their physical location within the building and serves as a basic reference point for the unfolding story.
The opening lines of "Cat in the Rain" introduce the two American characters who are staying at a hotel and are unfamiliar with the other guests. Their room on the second floor sets the stage for the narrative and contributes to the atmosphere of isolation and detachment that permeates the story.
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Electric Mayhem, Inc. (Mayhem') owns recording studios and produces music. A new band, The Rainbow Connection, contracts with Mayhem to use one of its studios to record an album In the contract, Rainbow Connection agrees to pay $200 per hour for studio time. They spend over 2500 hours working on the album, which sells poorly. Rainbow then refuses to pay for the studio time. Mayhem's Board debates whether to pursue Rainbow for the money or try to use the loss as a tax write-off. In the end, Mayhem decides to try and write-off the loss, even though it is highly questionable whether, pursuant to accounting principles, the loss qualifies as a tax write-off. Floyd, a Mayhem shareholder, is angry and feels strongly that the company should bring a breach of contract lawsuit against Rainbow. He, along with other shareholders, including majority shareholder Janice, send a letter to the Board demanding that Mayhem bring suit. The Board declines. Do Floyd and the other shareholders have any additional options? They can bring a lawsuit on Mayhem's behalf. They will pocket any damages Mayhem collects They have no options. The board decides whether to pursue a lawsuit and it declined They can be plaintiffs in a lawsuit against Rainbow They can bring a lawsuit on Mayhem's behalf. Any damages collected will go to Mayhem They can seek an injunction against Mayhem's board, as it is acting ultra vires
Floyd and the other shareholders can bring a lawsuit on Mayhem's behalf. Any damages collected will go to Mayhem.
Can Floyd and the shareholders initiate legal action on behalf of Mayhem?Yes, Floyd and the other shareholders have the option to bring a lawsuit on behalf of Mayhem, with any damages awarded going to the company. Floyd and the other shareholders have the right to initiate a lawsuit on behalf of Mayhem, known as a derivative lawsuit. This type of legal action allows shareholders to bring a lawsuit against a third party, such as Rainbow Connection, for actions that have harmed the company.
In this case, Floyd and the shareholders believe that Rainbow Connection's refusal to pay for the studio time constitutes a breach of contract, resulting in financial harm to Mayhem. By bringing a lawsuit on behalf of the company, they can seek legal remedies and potential damages to compensate Mayhem for the loss incurred.
If successful, any damages awarded as a result of the lawsuit would belong to Mayhem, not the individual shareholders. This approach allows the shareholders to act in the best interests of the company and seek redress for the alleged breach of contract.
It is important to note that the decision to pursue a derivative lawsuit ultimately rests with the shareholders, and the board's decision to decline the lawsuit does not prevent them from taking action. However, it is advisable for the shareholders to seek legal counsel and carefully evaluate the potential risks and benefits of initiating legal proceedings on behalf of the company.
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Question 23 Consider the following data about a firm. The tax rate is 20%. What is the operating cash flow in year 2001? 2000 2001 Year EBITDA 2002 140 150 160 Interest 0 0 0 Net PPE 100 115 108 50 60
It can be calculated by considering the EBITDA and making adjustments for taxes and changes in net PPE . The operating cash flow in year 2001 for the firm is $117.6.
In this case, the EBITDA for 2001 is $150, and the tax rate is 20%. Additionally, the net PPE decreased by $7 (from $115 to $108) during the year.
To calculate the operating cash flow, we start with EBITDA and adjust for taxes and changes in net PPE. EBITDA for 2001 is given as $150. To account for taxes, we multiply EBITDA by (1 - tax rate). In this case, the tax rate is 20%, so the tax-adjusted EBITDA is $150 * (1 - 0.20) = $120.
To calculate the change in net PPE, we subtract the net PPE at the end of the previous year (2000) from the net PPE at the end of the current year (2001). The change in net PPE is $108 - $115 = -$7.
Finally, we calculate the operating cash flow by adding the tax-adjusted EBITDA and the change in net PPE: $120 + (-$7) = $113.
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Pre- Normal Normal Crash Crash Activity decessor Time Cost Time Cost a 5 $50 3 $150 b 4 40 2 200 C b 7 70 6 160 d a, c 2 20 1 50 e a, c 3 30 f b 8 80 5 290 d 5 50 4 100 h e, f 6 60 3 180 All activities, except for activity b, may be partially crashed.(i.e. partial crashing for activity b only, is not allowed.) Each of the following sections is 5 marks. 1. Draw the network and find the critical path, time, and total cost for an all-normal level of project activity. (6 marks)
The critical path for an all-normal level of project activity is A - D - F - H. The total time for the project is 18 units, and the total cost is $320.
To find the critical path, we need to determine the longest path in the project network. We'll start by drawing the network diagram based on the given information:
Start
(0)
|
A
(5)
/ \
B C
(4) (7)
| |
D E
(2) (3)
| |
F G
(8) (6)
| |
H End
(6) (0)
(0)
Now, we'll calculate the earliest start time (EST) and earliest finish time (EFT) for each activity:
Activity A:
EST(A) = 0
EFT(A) = EST(A) + Time(A) = 0 + 5 = 5
Activity B:
EST(B) = EFT(A) = 5
EFT(B) = EST(B) + Time(B) = 5 + 4 = 9
Activity C:
EST(C) = EFT(A) = 5
EFT(C) = EST(C) + Time(C) = 5 + 7 = 12
Activity D:
EST(D) = EFT(B) = 9
EFT(D) = EST(D) + Time(D) = 9 + 2 = 11
Activity E:
EST(E) = EFT(C) = 12
EFT(E) = EST(E) + Time(E) = 12 + 3 = 15
Activity F:
EST(F) = EFT(D) = 11
EFT(F) = EST(F) + Time(F) = 11 + 8 = 19
Activity G:
EST(G) = EFT(E) = 15
EFT(G) = EST(G) + Time(G) = 15 + 6 = 21
Activity H:
EST(H) = EFT(F) = 19
EFT(H) = EST(H) + Time(H) = 19 + 6 = 25
Finally, we can determine the latest start time (LST) and latest finish time (LFT) for each activity:
Activity H:
LST(H) = EFT(H) - Time(H) = 25 - 6 = 19
LFT(H) = LST(H) + Time(H) = 19 + 6 = 25
Activity G:
LST(G) = EFT(H) = 25
LFT(G) = LST(G) + Time(G) = 25 + 6 = 31
Activity F:
LST(F) = EFT(G) - Time(F) = 31 - 8 = 23
LFT(F) = LST(F) + Time(F) = 23 + 8 = 31
Activity E:
LST(E) = EFT(G) - Time(E) = 31 - 6 = 25
LFT(E) = LST(E) + Time(E) = 25 + 3 = 28
Activity D:
LST(D) = EFT(F) - Time(D) = 31 - 2 = 29
LFT(D) = LST(D) + Time(D) = 29 + 2 = 31
Activity C:
LST(C) = EFT(E) - Time(C) = 28 - 7 =
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Bulk Wholesalers took in $374,800 in sales during July. They started the month with inventory worth $173,800 and spent $204,900 on new purchases during the month Cross margin on sales was 76%. Using the gross profit method, estimate the cost value of the inventory at the end of July. a. $89,952. b. $294,900. c. $378,748. d. $468,700
Using the gross profit method, estimate the cost value of the inventory at the end of July is $468,700. They get products from producers in large quantities at a discount, which they then sell to retailers. When retailers buy in bulk from wholesalers, wholesalers also offer cost reductions to retailers.The right answer is D.
Here is a short five-step guide that will let you purchase wholesale goods online to resell from your house.
1. Decide whether to source locally or internationally.
2. Verify Wholesale Product Suppliers.
3. Verify and Test the Wholesale Products.
4. Identify a Few Promising Wholesale Suppliers.
5. Choose the Amount You Want to Buy.
The retailer then divides up the bulk purchases into smaller packages for direct customer sales. Although there are many ways to categorise wholesalers, the Census of Wholesale Trade categories are most frequently used. The three different kinds of wholesalers
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A company wants to plan the production amounts for the first six months of a year. Demands, production costs, holding costs and shortage costs are given in table below. Company has 100 units of product in January and wants to hold 100 units of stock to other time period (after June). Units sold in a month cannot be higher than demand and product amount after production is done. Write a model to minimize total cost of company
The objective function is to minimize the total cost of the company, which is given as follows: minimize Z = 50x1 + 30x2 + 30x3 + 50x4 + 40x5 + 40x6 + 20(x6 - 100). Thus, the given model is solved using the below constraints and the objective function to find the number of units produced in each month, which will minimize the total cost of the company.
To solve the given problem, we need to minimize the total cost of the company. The table given below provides the cost parameters of the company: Months Demands Production costs Holding costs Shortage costsJanuary200503February150303March100303April250504May200405June150304Table of production costs, holding costs, shortage costs, and demands. From the table, it can be seen that the company has 100 units of products in January, which is the starting month of the production cycle. Also, the company wants to hold 100 units of stock in other time periods (after June). Further, the units sold in a month cannot be higher than the demand and the product amount after production is done. Let the number of units produced in the i-th month be xi, where i = 1, 2, …, 6. Since the units sold in a month cannot be higher than demand and product amount after production is done, the following constraints are obtained:x1 ≤ 200 (demand in January)x2 ≤ x1 + 150 (demand in February) x3 ≤ x2 + 100 (demand in March) x4 ≤ x3 + 250 (demand in April) x5 ≤ x4 + 200 (demand in May) x6 ≤ x5 + 150 (demand in June) x6 + 100 = 100 (required stock at the end of June) x1 = 100 (starting stock in January).
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Solve the problem, Round rates to the nearest tenth of a percent and dollar amounts to the nearest Astore sells an item for $140 each. If this is a 69.3 % markup on the selling price, find the equival
The equivalent markup percentage on the cost price is approximately 69.2%. This indicates the percentage increase in the cost price needed to achieve the desired selling price and markup.
To find the equivalent markup percentage on the cost price, we need to calculate the percentage increase in cost that corresponds to a 69.3% markup on the selling price. Let's assume the cost price of the item is C. The selling price is then obtained by adding the markup percentage to the cost price:
Selling Price = Cost Price + Markup
We know that the selling price is $140 and the markup percentage is 69.3%. Plugging in these values, we can write the equation as:
$140 = C + 0.693C
Simplifying the equation:
$140 = 1.693C
Dividing both sides by 1.693:
C = $140 / 1.693
C ≈ $82.62
So, the cost price of the item is approximately $82.62.
To find the markup percentage on cost, we can calculate the difference between the selling price and the cost price, and then express it as a percentage of the cost price:
Markup Percentage on Cost = (Selling Price - Cost Price) / Cost Price * 100
Plugging in the values:
Markup Percentage on Cost = ($140 - $82.62) / $82.62 * 100
Markup Percentage on Cost ≈ 69.2%
Therefore, the equivalent markup percentage on the cost price is approximately 69.2%.
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Here is the complete question:
Solve the problem. Round rates to the nearest tenth of a percent and dollar amounts to the nearest Astore sells an item for $140 each. If this is a 69.3% markup on the selling price, find the equivalent markup percent on cost.
1) Do research on the impact of mobile advertising on sales and marketing, where does it stand when comparing with traditional advertising (TV, newspaper, etc.) and online advertising? What are its particular strengths and weaknesses?
Mobile advertising has become an increasingly popular medium for sales and marketing due to the rise in smartphone usage. According to a report by eMarketer, mobile advertising is set to account for 72.2% of all digital ad spend by 2022. When compared to traditional advertising, mobile advertising has the advantage of being able to reach consumers on-the-go, through personalized and location-based targeting. It also has the ability to drive immediate action through the use of click-to-call and in-app purchases.
Mobile advertising has become a crucial part of sales and marketing due to its ability to target and reach consumers on-the-go. It has surpassed traditional advertising in terms of flexibility, convenience, and personalization. Compared to online advertising, mobile advertising has the advantage of being able to drive immediate action and engagement through in-app purchases and click-to-call. However, mobile advertising does have its weaknesses such as screen size limitations and the possibility of disrupting user experience with intrusive ads. It is important for marketers to find a balance between effective targeting and respecting user privacy and experience.
Mobile advertising is a powerful tool in the world of sales and marketing. It has the potential to drive immediate action and reach consumers in a personalized and convenient manner. However, it is important to keep in mind its weaknesses and to use it strategically alongside other advertising mediums. By finding a balance between effective targeting and user experience, mobile advertising can continue to be a valuable asset in a marketer's toolbox.
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Ferguson Company purchased 122,500 shares of Silva Company directly from one of the founders for a price of $47 per share. Silva has 350,000 shares outstanding, including the Daniels shares. On July 2, Year 1, Silva paid $300,000 in total dividends to its shareholders. On December 31, Year 1, Silva reported a net income of $1,144,000 for the year. Ferguson uses the equity method in accounting for its investment in Silva. a. Provide the Ferguson Company journal entries for the transactions involving its investment in Silva Company during Year 1. Year 1, Jan. 4 Year 1, July 2 Year 1, Dec. 31 b. Determine the December 31, Year 1, balance of Investment in Silva Company Stock. On January 4, Year 1, Ferguson Company purchased 122,500 shares of Silva Company directly from one of the founders for a price of $47 per share. Silva has 350,000 shares outstanding, including the Daniels shares. On July 2, Year 1, Silva paid $300,000 in total dividends to its shareholders. On December 31, Year 1, Silva reported a net income of $1,144,000 for the year. Ferguson uses the equity method in accounting for its investment in Silva. a. Provide the Ferguson Company journal entries for the transactions involving its investment in Silva Company during Year 1. Year 1, Jan. 4 Year 1, July 2 Year 1, Dec. 31 b. Determine the December 31, Year 1, balance of Investment in Silva Company Stock.
a. Journal Entries for the transactions involving Ferguson Company investment in Silva Company during Year 1 are as follows:
Jan. 4 - When Ferguson Company purchased 122,500 shares of Silva Company directly from one of the founders for a price of $47 per share Date Account Title and Explanation Debit Credit Jan. 4Investment in Silva Company $5,762,500 Cash$5,762,500(Being the purchase of 122,500 shares of Silva Company)July 2 - When Silva paid $300,000 in total dividends to its shareholders Date Account Title and Explanation Debit Credit July 2Cash$300,000Investment in Silva Company (Dividend Income)$300,000(Being cash received as dividend income from Silva Company)Dec. 31 - When Silva reported a net income of $1,144,000 for the year Date Account Title and Explanation Debit Credit Dec. 31Investment in Silva Company$450,250Income from Investment in Silva Company$450,250(Being the share of net income of Silva Company reported by the latter)b. Balance of Investment in Silva Company Stock on December 31, Year 1 is calculated as follows: Particulars Amount Investment in Silva Company$6,212,750Less: Share of Income from Silva Company($450,250)Add: Share of Dividend from Silva Company$300,000Balance of Investment in Silva Company as on December 31, Year 1$6,062,500Therefore, the December 31, Year 1 balance of Investment in Silva Company Stock is $6,062,500.
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To comply with IRS regulations, all companies are required to have a Petty Cash Fund? True O False
False. To comply with IRS regulations, all companies are not required to have a Petty Cash Fund. The use of a petty cash fund is a common practice for many businesses to manage small, routine expenses.
However, it is not a requirement imposed by the IRS or any specific regulation. The decision to establish a petty cash fund is at the discretion of the company and its internal control policies. The IRS focuses more on the accurate reporting of income, expenses, and the proper documentation of transactions rather than mandating the use of a petty cash fund.
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economists are optimistic that growth can continue in the face of resource scarcity because:
Economists are optimistic that growth can continue in the face of resource scarcity because of technological advancements, innovation, and efficiency gains that can help overcome resource limitations .
Economists are optimistic about continued growth despite resource scarcity due to several reasons. Firstly, technological advancements play a crucial role in finding alternative resources, improving resource extraction techniques, and developing more efficient production processes. These advancements can help mitigate the negative impact of resource scarcity by enabling the use of renewable resources, promoting recycling and waste reduction, and discovering substitutes for scarce resources.
Secondly, innovation and entrepreneurship drive economic growth. In the face of resource constraints, individuals and businesses are incentivized to find innovative solutions, develop new technologies, and create more efficient products and services. This fosters productivity gains and economic expansion, even in resource-constrained environments.
Lastly, the concept of efficiency gains suggests that societies can achieve higher levels of output using fewer resources. Through improved resource management, better allocation of resources, and increased productivity, economies can generate more value with limited resources, leading to sustainable growth.
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Stephanie purchased 100 shares of Novell stock for $12 a share on September 10, 2019. On August 28, 2020, the price had fallen to $9. Concerned that the price might decline further, Stephanie sold all her shares that day. She later regretted this move, and on September 24, 2020, she repurchased the stock when it was $11 a share. What is Stephanie's 2020 capital gain or loss on these transactions? No gain or loss. $100 short-term loss. $300 short-term loss. O $300 long-term loss.
Stephanie incurred a $300 short-term loss on her 2020 capital gain transactions.
Stephanie initially purchased 100 shares of Novell stock for $12 per share on September 10, 2019. On August 28, 2020, she sold all her shares when the price dropped to $9 per share. The selling price per share was lower than her purchase price, resulting in a loss of $3 per share. Since Stephanie sold the shares within a year of purchasing them, this loss qualifies as a short-term loss.
However, Stephanie repurchased the stock on September 24, 2020, when the price was $11 per share. Since she sold and repurchased the shares within a short period, the repurchased shares are considered a "wash sale." According to tax regulations, losses from wash sales are disallowed for tax purposes.
Considering these transactions, Stephanie incurred a $300 short-term loss. This loss is calculated by multiplying the number of shares (100) by the difference in purchase and selling prices per share ($12 - $9 = $3), resulting in a loss of $300. As the loss occurred within a year, it is categorized as a short-term loss rather than a long-term loss.
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How might you use Porter’s five forces model and
competitive intelligence to improve your team’s performance in the
CAPSIM competition?
Porter's five forces model can be used to analyze the competitive environment of the CAPSIM competition and identify areas where a team can improve its performance.
By understanding the five forces – threat of new entrants, bargaining power of suppliers and buyers, threat of substitute products or services, and competitive rivalry – a team can develop a better understanding of the market dynamics and make more informed decisions. Competitive intelligence, on the other hand, can provide the team with insights into the strengths and weaknesses of their competitors, their strategies, and their market position. This information can be used to create a competitive advantage by identifying gaps in the market and developing innovative solutions. By combining these two approaches, a team can gain a better understanding of the competitive landscape, make more strategic decisions, and ultimately improve their performance in the CAPSIM competition.
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Dividing Partnership Net Income Steve Conyers and Chelsy Dane formed a partnership, dividing income as follows: 1. Annual salary allowance to Dane of $94,050. 2. Interest of 5% on each partner's capital balance on January 1. 3. Any remaining net income divided to Conyers and Dane, 1:2. Conyers and Dane had $45,000 and $111,000, respectively, in their January 1 capital balances. Net income for the year was $165,000. Required: How much net income should be distributed to Conyers and Dane? Conyers: $ 5,250 X Dane: $ 11,550 X
The net income that should be distributed to Conyers and Dane can be calculated as follows:
Calculate the interest on each partner's capital balance:
Conyers' interest = $45,000 * 5% = $2,250
Dane's interest = $111,000 * 5% = $5,550
Calculate the remaining net income after deducting the annual salary allowance and interest:
Net income remaining = Net income - Annual salary allowance - Interest
Net income remaining = $165,000 - $94,050 - ($2,250 + $5,550)
Net income remaining = $165,000 - $94,050 - $7,800
Net income remaining = $63,150
Divide the remaining net income between Conyers and Dane based on their profit-sharing ratio:
Conyers' share = $63,150 * (1/3) = $21,050
Dane's share = $63,150 * (2/3) = $42,100
Therefore, the net income to be distributed to Conyers is $21,050 and to Dane is $42,100.
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Demand for computer chips is normally distributed with average 10,000 computer chips and a standard deviation of 3,333.
The company targets a service level of 90%.
How much safety inventory does the company need to carry to achieve this service level? Answer in units.
The company needs to carry approximately 4,266 units of safety inventory to achieve a service level of 90%.
To find the z-score for a service level of 90% (or a probability of 0.9), we can use the Z-table or a calculator. The closest value to 0.9 in the Z-table is 0.8997, which corresponds to a z-score of approximately 1.28.
The formula to calculate safety inventory is:
Safety Inventory = Z-score * Standard Deviation
Given:
Average demand (mean) = 10,000 computer chips
Standard deviation = 3,333 computer chips
Z-score for a service level of 90% = 1.28
Safety Inventory = 1.28 * 3,333
Safety Inventory = 4,266 computer chips
Therefore, the company needs to carry approximately 4,266 units of safety inventory to achieve a service level of 90%.
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Which of the following activities falls under supply chain management?
Group of answer choices
Procurement of supplies
Storage of supplies
Preservice insurance verification to determine coverage for supplies used in patient care
Answers a. and b. are both correct
Answers a., b., and c. are all correct
Answers a. and b. are both correct. Procurement of supplies and storage of supplies are both considered part of supply chain management.
Procurement of supplies and storage of supplies are both considered part of supply chain management. Preservice insurance verification to determine coverage for supplies used in patient care is not typically considered part of supply chain management, as it is more closely related to healthcare billing and reimbursement processes.
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answer i and ii pls
i) How could Bank of Singapore attempt to capitalize on its expectations without using deposited funds? Estimate the profits that could be generated from this strategy. (10 marks) ii) Assume all the p
One way that Bank of Singapore could attempt to capitalize on its expectations without using deposited funds is by investing in various financial instruments such as bonds, stocks, and other securities. This would allow the bank to earn a return on its investments while not utilizing its deposited funds.
For example, if Bank of Singapore expects interest rates to rise, it could invest in bonds with longer maturities that pay higher interest rates. As interest rates rise, the value of these bonds would decrease, but the bank could hold them until maturity and collect the higher interest payments. Similarly, the bank could invest in stocks of companies that are expected to perform well in an environment of rising interest rates.
Estimating the profits that could be generated from this strategy would depend on several factors, such as the size and composition of the bank's investment portfolio, the performance of the financial markets, and the bank's ability to accurately predict future market trends. Without more detailed information, it would be difficult to provide a specific estimate of potential profits. However, it is worth noting that investing in financial markets always carries some degree of risk, and the bank would need to carefully manage its investments to mitigate this risk and achieve satisfactory returns.
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