The principal repaid in payment 20 is approximately $254.99.
The principal repaid in payment 20 would be:
\[principal\ repaid = payment\ amount - interest\ paid\]
plugging in the values, we have:
\[principal\ repaid = 326.
(a) to calculate the size of the periodic payment, we can use the formula for the present value of an annuity:
\[pv = p \times \left(\frac{1 - (1 + r)^{-n}}{r}\right)\]
where:pv = present value of the debt ($43,000)
p = periodic paymentr = interest rate per period (3% compounded monthly)
n = number of periods (10 years * 4 quarters per year = 40 quarters)
plugging in the values, we can solve for p:
\[43,000 = p \times \left(\frac{1 - (1 + \frac{0.03}{12})^{-40}}{\frac{0.03}{12}}\right)\]
solving the equation, the size of the periodic payment is approximately $326.92.
(b) to find the outstanding principal after payment 19, we need to calculate the remaining balance of the loan. we can use the formula for the remaining balance of a loan:
\[balance = pv \times (1 + r)ⁿ - p \times \left(\frac{(1 + r)ⁿ - 1}{r}\right)\]
where:pv = present value of the debt ($43,000)
r = interest rate per period (3% compounded monthly)n = number of periods (19 quarters)
plugging in the values, we can solve for the remaining balance:
\[balance = 43,000 \times (1 + \frac{0.03}{12})^{19} - 326.92 \times \left(\frac{(1 + \frac{0.03}{12})^{19} - 1}{\frac{0.03}{12}}\right)\]
calculating the equation, the outstanding principal after payment 19 is approximately $28,770.16.
(c) to calculate the interest paid on payment 20, we can subtract the principal portion of the payment from the total payment amount. since the interest is compounded monthly, the interest paid on payment 20 would be:
\[interest\ paid = balance\ before\ payment\ 20 \times \frac{0.03}{12}\]
plugging in the values, we have:
\[interest\ paid = 28,770.16 \times \frac{0.03}{12}\]
calculating the equation, the interest paid on payment 20 is approximately $71.93.
(d) the principal repaid in payment 20 can be calculated by subtracting the interest paid from the total payment amount. 92 - 71.93\]
calculating the equation, the principal repaid in payment 20 is approximately $254.99.
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In the Korean creation myth, Hwan-ung takes a wife who at one time was a bear and together they have a child named Tan-gun who eventually becomes a powerful leader and the founder of the Korean Kingdom.
True or false
In the Korean Creation Myth, Hwan-ung took a wife who was initially a bear and had a child named Tan-gun who eventually became the powerful leader and the founder of the Korean Kingdom.
The statement provided in the question "In the Korean creation myth, Hwan-ung takes a wife who at one time was a bear and together they have a child named Tan-gun who eventually becomes a powerful leader and the founder of the Korean Kingdom" is true. The Korean Creation Myth is a myth of how Korea came into existence and is characterized by various animals and deities that come together to form a group of people or society.
The mythological story describes how Hwan-ung descended from heaven and established a city called Asadal on the Baekdu Mountains and declared himself the king. The city was established in 2333 BC, according to the myth. Hwan-ung was the grandson of the god of heaven and son of the god of earth, and he had a magical bow and arrow that he used to establish his authority over the people of Asadal. He married a bear who transformed into a beautiful woman, and together they had a son named Tan-gun. Tan-gun would later go on to become a powerful leader and the founder of the Korean Kingdom.
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What is the accumulated value after 15 years of monthly deposits of $500.00 earning interest
at 8% compounded semi-annually if the deposits are made
at the end of each month?
at the beginning of each month?
The accumulated value after 15 years of monthly deposits of $500.00, with deposits made at the end of each month, is approximately $17,034.32. If the deposits are made at the beginning of each month, the accumulated value is approximately $17,391.23.
To calculate the accumulated value of monthly deposits with different timing, we can use the formula for the future value of an ordinary annuity and the future value of an annuity due.
Monthly deposits made at the end of each month:
Using the formula for the future value of an ordinary annuity:
FV = P *[tex]((1 + r/n)^(nt) - 1) / (r/n)[/tex]
Where:
P = Monthly deposit amount = $500.00
r = Annual interest rate = 8% = 0.08
n = Number of compounding periods per year = 2 (semi-annually compounded)
t = Number of years = 15
Plugging in the values into the formula, we get:
FV = 500 *[tex]((1 + 0.08/2)^(2*15) - 1) / (0.08/2)[/tex]
FV ≈ $17,034.32
Therefore, the accumulated value after 15 years of monthly deposits of $500.00, made at the end of each month and earning 8% interest compounded semi-annually, is approximately $17,034.32.
Monthly deposits made at the beginning of each month:
Using the formula for the future value of an annuity due:
FV = P * [tex]((1 + r/n)^(nt) - 1) / (r/n) * (1 + r/n)[/tex]
Using the same values as before, we get:
FV = 500 * [tex]((1 + 0.08/2)^(2*15) - 1) / (0.08/2) * (1 + 0.08/2[/tex])
FV ≈ $17,391.23
Therefore, the accumulated value after 15 years of monthly deposits of $500.00, made at the beginning of each month and earning 8% interest compounded semi-annually, is approximately $17,391.23.
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Analyze cases by applying the principles of good governance and
ethical standards to corporate and managerial problems.
please do not copy paste from anywhere...
Analyzing corporate and managerial problems through the lens of good governance and ethical standards is crucial for ensuring responsible and sustainable business practices.
By applying these principles, organizations can promote transparency, accountability, and integrity in their operations. Let's examine how good governance and ethical standards can be applied to address such problems.
1. Conflict of Interest:
A key principle of good governance is to mitigate conflicts of interest. When faced with conflicts, managers should prioritize the best interests of the company and its stakeholders. This can be achieved by implementing clear policies and procedures that identify, disclose, and manage conflicts of interest. By doing so, organizations can ensure fair decision-making processes and prevent actions that compromise the integrity of the company.
2. Executive Compensation:
Ethical standards dictate that executive compensation should be reasonable and aligned with the company's performance and long-term sustainability. Good governance practices involve establishing independent compensation committees that set compensation packages based on transparent and objective criteria. This ensures that executives are rewarded appropriately while avoiding excessive and unjustifiable compensation that may undermine the interests of shareholders and other stakeholders.
3. Whistleblower Protection:
Promoting a culture of ethical behavior requires establishing mechanisms to protect whistleblowers. Good governance practices involve implementing robust whistleblower policies that encourage employees to report misconduct or unethical behavior without fear of retaliation. Such policies should include anonymous reporting channels and safeguards to ensure the confidentiality and protection of whistleblowers. By fostering a safe and supportive environment for reporting, organizations can promptly address issues and maintain ethical standards.
4. Stakeholder Engagement:
Ethical standards emphasize the importance of considering and engaging with various stakeholders, including employees, customers, suppliers, communities, and shareholders. Good governance principles advocate for effective stakeholder engagement, which involves actively seeking input, listening to concerns, and involving stakeholders in decision-making processes. By considering diverse perspectives, organizations can make more informed and ethical decisions that balance the interests of all stakeholders and promote sustainable growth.
5. Risk Management:
Applying good governance and ethical standards involves implementing robust risk management practices. This includes identifying and assessing risks, establishing risk management frameworks, and implementing internal controls and compliance mechanisms. By proactively managing risks, organizations can mitigate potential harm, protect stakeholders' interests, and ensure the long-term viability and reputation of the company.
In conclusion, applying the principles of good governance and ethical standards to corporate and managerial problems is essential for promoting responsible and sustainable business practices.
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How is the contribution margin calculated when utilizing variable costing?
a. Sales less variable cost of goods sold
b. Sales less cost of goods sold
c. Sales less variable cost of goods sold, less variable selling and administrative expenses, less fixed cost of goods sold, less fixed selling, and administrative expenses.
d. Sales less variable cost of goods sold, less variable selling and administrative expenses.
The correct answer is d. Sales less variable cost of goods sold, less variable selling and administrative expenses.
Contribution margin is a financial metric used in variable costing, which is a cost accounting method that separates costs into fixed and variable components.
It helps in analyzing the profitability of products or services by determining the amount available to cover fixed costs and contribute to the company's operating income.
To calculate the contribution margin using variable costing, you subtract the variable costs from sales revenue. Variable costs are costs that vary in direct proportion to the level of production or sales. They include variable cost of goods sold (COGS) and variable selling and administrative expenses. Fixed costs, on the other hand, are not included in the contribution margin calculation.
The formula for contribution margin using variable costing is:
Contribution Margin = Sales - Variable Cost of Goods Sold - Variable Selling and Administrative Expenses
This calculation represents the amount of revenue remaining after deducting the variable costs associated with producing and selling the products or services. The contribution margin can then be used to cover fixed costs and contribute to the company's profitability.
Option d correctly captures the calculation of contribution margin when utilizing variable costing by subtracting the variable cost of goods sold and variable selling and administrative expenses from sales revenue.
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What actions could be taken to stabilize output in response to a large decrease in U.S. net exports? Group of answer choices increase spending on education and decrease taxes repair aging infrastructure and increase taxes decrease miliatry spending and increase taxes decrease Social Security payments and decrease taxes
To stabilize output in response to a large decrease in U.S. net exports, several actions can be taken. Here are some possible steps: 1. Increase spending on education: By investing more in education, the workforce can acquire new skills and knowledge, which can lead to increased productivity and innovation.
This can help offset the decrease in net exports by boosting domestic industries and creating new opportunities. 2. Repair aging infrastructure: Upgrading and maintaining infrastructure such as roads, bridges, and airports can stimulate economic activity. Infrastructure projects create jobs and improve transportation networks, making the country more attractive for businesses and investors. This can help offset the impact of the decrease in net exports. 3. Decrease military spending: If there is a significant decrease in net exports, reducing military spending can free up resources that can be redirected towards other areas of the economy. This can include investments in education, infrastructure, or targeted support for struggling industries. By reallocating funds, the government can help stabilize output and promote economic growth. 4. Decrease Social Security payments: While reducing Social Security payments may be unpopular, it can be a potential measure to stabilize output. However, this option should be considered with caution, as it can have a significant impact on individuals who rely on these payments for their livelihood. It is essential to strike a balance between fiscal responsibility and social welfare. In addition to these actions, it is worth mentioning that increasing taxes can also be considered as a means to stabilize output.
However, the specific tax policies and their impact on the economy should be carefully evaluated, as they can have both positive and negative effects on different sectors. Overall, a combination of measures such as investing in education, repairing infrastructure, adjusting military spending, and considering changes to Social Security payments and taxes can be employed to stabilize output in response to a significant decrease in U.S. net exports. It is important to analyze the specific circumstances and prioritize actions that align with the country's economic goals and social needs.
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Which of the following does not describe an efficient outcome?
a. Maximized income.
b. Maximized total economic surplus
c. P=MC
d. No deadweight loss
The option that does not describe an efficient outcome is a. Maximized income.
An efficient outcome occurs when the total surplus or total welfare is maximized, and when economic resources are allocated to their most valuable use. Maximizing income may not necessarily be the best measure of an efficient outcome because it does not consider the distribution of resources, the value that these resources have to society, or externalities.Maximizing total economic surplus is an important aspect of efficient outcomes. The economic surplus is defined as the sum of consumer surplus and producer surplus. A socially efficient market outcome is one that maximizes the sum of consumer and producer surplus.
P = MC is an important condition for efficiency because it ensures that the marginal benefit of producing a good or service equals the marginal cost. When firms produce at the point where P = MC, they are producing at the lowest possible cost, and consumers are paying the lowest possible price for the goods and services they consume. No deadweight loss is another key component of an efficient outcome. Deadweight loss is a loss in total surplus that occurs when a market is not operating at its efficient level.
Therefore, option a. Maximized income does not describe an efficient outcome because maximizing income does not necessarily lead to efficient resource allocation. An efficient outcome occurs when total surplus is maximized, P = MC, and there is no deadweight loss.
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equipment is \( 11 \% \). Is it profitable to replace the year-old machine? The NPV of the replacement is \( \$ \). (Round to the nearest dollar.)
Yes, it is profitable to replace the year-old machine as the net present value (NPV) of the replacement is $176,182, indicating a positive return on investment.
To determine if it is profitable to replace the year-old machine, we need to calculate the net present value (NPV) of the replacement.
1. Calculate the cash flows for the new machine:
- EBITDA from the new machine: $55,000 per year for 10 years
- Depreciation expense of the new machine: ($160,000 / 10) = $16,000 per year
2. Calculate the cash flows for the current machine:
- EBITDA from the current machine: $20,000 per year for 10 years
- Depreciation expense of the current machine: $9,091 per year
3. Calculate the incremental cash flows by subtracting the cash flows of the current machine from the cash flows of the new machine:
- Incremental EBITDA: $55,000 - $20,000 = $35,000 per year
- Incremental depreciation expense: $16,000 - $9,091 = $6,909 per year
4. Calculate the tax savings resulting from the incremental depreciation expense:
- Tax savings per year: $6,909 * 20% (tax rate) = $1,381.80 per year
5. Calculate the net cash flows by subtracting the tax savings from the incremental EBITDA:
- Net incremental cash flow per year: $35,000 - $1,381.80 = $33,618.20 per year
6. Calculate the NPV of the replacement by discounting the net cash flows using the opportunity cost of capital:
- NPV = (Net incremental cash flow / Discount rate) * (1 - (1 + Discount rate)⁻¹⁰) + Salvage value
- NPV = ($33,618.20 / 0.10) * (1 - (1 + 0.10)⁻¹⁰) + $0
- NPV = $336,182 - $160,000
- NPV = $176,182 (rounded to the nearest dollar)
Based on the positive NPV of $176,182, it is profitable to replace the year-old machine. Therefore, the correct choice is:
A. Yes, there is a profit from replacing the machine.
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Complete Question:
One year ago, your company purchased a machine used in manufacturing for $100,000. You have learned that a new machine is available that offers many advantages; you can purchase it for $160,000 today. It will be depreciated on a straight-line basis over ten years, after which it has no salvage value. You expect that the new machine will contribute EBITDA (earnings before interest, taxes, depreciation, and amortization) of $55,000 per year for the next ten years. The current machine is expected to produce EBITDA of $20,000 per year. The current machine is being depreciated on a straight-line basis over a useful life of 11 years, after which it will have no salvage value, so depreciation expense for the current machine is $9,091 per year. All other expenses of the two machines are identical. The market value today of the current machine is $50,000. Your company's tax rate is 20%, and the opportunity cost of capital for this type of equipment is 10%. Is it profitable to replace the year-old machine? The NPV of the replacement is $ (Round to the nearest dollar.) Should your company replace its year-old machine? (Select the best choice below.) O A. Yes, there is a profit from replacing the machine. O B. No, there is a loss from replacing the machine.
Are leaders born or made?
Can people learn how to cultivate and leverage personal sources of power (e.g., referent, expert, etc.)?
Can people modify their behavior so as to appear more leader-like, based on the attributes associated with implicit leader prototypes (e.g., charismatic, extroverted, dedicated, etc.)?
The question of whether leaders are born or made has been a topic of debate. Additionally, individuals can learn how to cultivate and leverage personal sources of power, modify their behaviour to appear more leader-like based on implicit leader prototypes and develop leadership skills through various means.
The nature versus nurture debate regarding leadership suggests that while some individuals may possess innate qualities that make them more predisposed to leadership, leadership skills can also be developed and honed through learning and experience. Leadership development programs, training, mentorship, and self-reflection are some of the ways individuals can learn how to cultivate and leverage personal sources of power such as referent and expert power.
Furthermore, individuals can modify their behavior to align with the attributes associated with implicit leader prototypes. By consciously emulating charismatic, extroverted, and dedicated behaviors, individuals can enhance their leadership presence and influence. This process involves self-awareness, adopting effective communication strategies, and displaying qualities that inspire and motivate others.
While some individuals may naturally possess certain traits or qualities that make them more likely to be perceived as leaders, it is important to recognize that leadership is not solely determined by inherent characteristics. Leadership skills can be learned, developed, and refined through intentional efforts and a growth mindset. By actively seeking opportunities for growth, individuals can enhance their leadership abilities and become more effective leaders.
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You take out a 30-year fixed-rate mortgage for $900,000 with an interest rate of 3.6% (APR).
What is the monthly payment?
Consider a loan for $119,776 that is paid off in 15 yearly payments of $11,000 (at the end of each period).
What is the interest rate?
The interest rate for this loan is approximately 3.74%.
To calculate the monthly payment for a 30-year fixed-rate mortgage, we can use the loan amount, interest rate, and loan term.
Loan amount: $900,000
Interest rate: 3.6% (APR)
Loan term: 30 years (360 months)
The formula to calculate the monthly payment for a fixed-rate mortgage is:
M = P [ r(1+r)^n ] / [ (1+r)^n - 1 ]
Where:
M = Monthly payment
P = Loan amount
r = Monthly interest rate
n = Number of monthly payments
First, let's calculate the monthly interest rate:
Monthly interest rate = Annual interest rate / 12
Monthly interest rate = 3.6% / 12 = 0.003
Now, let's calculate the monthly payment:
M = $900,000 [ 0.003(1+0.003)^360 ] / [ (1+0.003)^360 - 1 ]
Using a financial calculator or spreadsheet software, the monthly payment for the mortgage is approximately $4,087.08.
For the second scenario, to calculate the interest rate, we can use the loan amount, the periodic payment, and the number of periods.
Loan amount: $119,776
Periodic payment: $11,000
Number of periods: 15 years (15 periods)
The formula to calculate the interest rate for an installment loan is more complex and involves solving for the interest rate using iterative methods. However, with the given values, we can approximate the interest rate using trial and error.
By trying different interest rates, we find that the interest rate for this loan is approximately 3.74%.
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Accounting is traditionally seen as fulfilling which three functions:
i. Scorekeeping
ii. Investment decision-making
iii. attention-directing iv. problem-solving
a. i, ii & iif
b.i1. iii & iv
c, i, ii, & iv
d. i. iii & iv
The term accountability can best be understood as the:
a. Delivery of reliable financial information to shareholders
b. Act of carrying out the accounting function
c. Responsibility of the management of an organization to its stakeholders
d. Ability to render accurate financial statements to management
The traditional roles of accounting are Scorekeeping, attention-directing, and problem-solving. The term accountability can best be understood as the responsibility of the management of an organization to its stakeholders.Accounting is often viewed as having three main functions.
These include scorekeeping, attention-directing, and problem-solving. The first function, scorekeeping, is concerned with recording, classifying, and summarizing financial information. This information can be used to assess the company's financial performance and make informed decisions about its future.Investment decision-making is the second function of accounting. This involves the use of financial information to make informed decisions about investment opportunities.
This information can be used to evaluate the risks and benefits of different investment opportunities and to determine which investments are most likely to be profitable.The third function of accounting is attention-directing. This involves the use of financial information to direct attention to areas of the company that may require additional resources or attention. Therefore, the correct option is (c) i, ii, & iv.
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You took out a 30-year fixed-rate mortgage to buy a house. The interest rate is 6% (APR) and you have to pay $1,110 per month. [ Attempt 2/10 for 9 pts. What is the original mortgage amount?
The original mortgage amount can be calculated using the formula for the present value of an ordinary annuity. The monthly payment of $1,110 is the annuity payment, the interest rate is 6% per year (APR), and the loan term is 30 years.
To find the original mortgage amount, we need to solve for the present value. Convert the annual interest rate to a monthly rate by dividing it by 12. In this case, the monthly interest rate is 6% / 12 = 0.5%. Convert the loan term from years to months by multiplying it by 12. In this case, the loan term is 30 years * 12 = 360 months.
Use the formula: PV = PMT * [(1 - (1 + r)^(-n)) / r]. Substitute the values into the formula: PV = $1,110 * [(1 - (1 + 0.005)^(-360)) / 0.005]. Solve for PV using a calculator or spreadsheet. The original mortgage amount is approximately $193,255.
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You are a study team member, and in one of the team meetings, your statistician says "A statistical analysk plan must be developed before the study is conducted." Which one of the following is the best practice? It is always a good practice to prepare the statistical analysis plan before a study is conducted, or at least before the data are analyzed It is not necessary to prepare an analysis plan as long as data collection is done property The study team as a whole can determine if an analysis plan is needed The decision if such an analysis plan is needed is left to the discretion of the study statistician.
As a study team member, the best practice is to prepare a statistical analysis plan before a study is conducted, or at least before the data is analyzed.
The statistical analysis plan details how data will be analyzed, including the statistical tests to be used and the criteria for statistical significance. By preparing the statistical analysis plan in advance, the study team can ensure that the data is collected appropriately and that the results are reliable. The statistical analysis plan also allows for greater transparency in the research process and ensures that all members of the study team are on the same page regarding the analysis. It is not necessary to prepare an analysis plan as long as data collection is done properly, but it is highly recommended for the reasons stated above.
The study team as a whole can determine if an analysis plan is needed, but it is best to involve a statistician in this decision to ensure that the plan is appropriate. The decision if such an analysis plan is needed is left to the discretion of the study statistician, but it is recommended to involve the entire study team to ensure that all aspects of the research are considered. In summary, preparing a statistical analysis plan is an essential part of the research process and should be done before the study is conducted or data is analyzed.
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Mr. Rohan decided to purchase a car which costs Rs. 40,00,000. He approached SBI for car loan. As per the loan agreement, the borrower should oring 30% of the cost of the house as margin money and the remaining would be lent by the bank at 9% p.a for 3 years. Compute Equated Annual installment EAls to be paid by Mr. Rohan. And also show the segregation of EAI into principal and interest for the 3 years of loan repayment.
Mr. Rohan purchased a car costing Rs. 40,00,000 and obtained a car loan from SBI. As per the loan agreement, he paid a margin money of 30% of the car's cost, and the remaining amount was lent by the bank at an interest rate of 9% p.a. for 3 years. The Equated Annual Installment (EAI) to be paid by Mr. Rohan needs to be calculated, along with the segregation of EAI into principal and interest for the 3-year loan repayment period.
To calculate the Equated Annual Installment (EAI), we can use the formula for the annuity payment. The loan amount is calculated as the cost of the car minus the margin money paid by Mr. Rohan.
Loan amount = Cost of the car - Margin money
= Rs. 40,00,000 - (30% of Rs. 40,00,000)
= Rs. 40,00,000 - Rs. 12,00,000
= Rs. 28,00,000
Using the annuity payment formula:
EAI = (Loan amount * Interest rate) / (1 - (1 + Interest rate)^(-Number of years))
EAI = (Rs. 28,00,000 * 9%) / (1 - (1 + 9%)^(-3))
Simplifying the equation:
EAI = Rs. 2,52,000
Therefore, the Equated Annual Installment (EAI) to be paid by Mr. Rohan is Rs. 2,52,000.
To segregate the EAI into principal and interest for the 3-year loan repayment period, an amortization schedule can be prepared. This schedule will show the breakup of each payment into principal and interest components for each year. The principal component will reduce gradually over time, while the interest component will decrease accordingly.
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If the US dollar depreciates, U.S. residents pay A. more dollars for foreign bonds and get more dollars from interest payments. B. more dollars for foreign bonds but get fewer dollars from interest payments. C. fewer dollars for foreign bonds and also get fewer dollars from interest payments. D. fewer dollars for foreign bonds but get more dollars from interest payments.
The correct answer is A. more dollars for foreign bonds and get more dollars from interest payments.
When the US dollar depreciates, it means that the value of the US dollar decreases relative to other currencies. As a result, it takes more US dollars to purchase foreign bonds, which are denominated in foreign currencies.
Therefore, US residents would have to spend more dollars to acquire these foreign bonds (pay more dollars for foreign bonds).
Additionally, when US residents hold foreign bonds, they receive interest payments denominated in the foreign currency.
When the US dollar depreciates, the foreign currency strengthens, which means that US residents will receive more dollars when they convert their interest payments from the foreign currency back to US dollars.
Therefore, US residents will get more dollars from interest payments.
Option A correctly describes the relationship between a US dollar depreciation, the purchase of foreign bonds, and interest payments, making it the correct answer.
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Consider ABC Corp. The firm had sales of $2 million last year with a net profit margin of 6%. It’s total assets last year was $1 million. What is the firm’s return on assets (ROA)?
a. Less than 5%
b. Between 5% and 7%
c. Between 7% and 9%
d. Between 9% and 11%
e. More than 11%.
ROA (return on assets) is a financial measure that is used to measure a company's profitability with respect to the assets it has available. The following formula is used to calculate ROA:
ROA = Net Profit Margin × Asset Turnover Ratio
Consider ABC Corp. had sales of 2 million with a net profit margin of 6%. The formula for Net Profit Margin is:
Net Profit Margin = (Net Profit / Total Revenue) x 100%
Net Profit = 6% of 2 million
Net Profit = 0.06 × 2,000,000
Net Profit = 120,000
The total assets of ABC Corp. last year was 1 million.To determine the firm's return on assets (ROA), we will need to calculate its Asset Turnover Ratio.
Asset Turnover Ratio = Sales / Total Assets
Asset Turnover Ratio = 2 million / 1 million
Asset Turnover Ratio = 2
Now we can calculate the ROA.
ROA = Net Profit Margin × Asset Turnover Ratio
ROA = 6% × 2
ROA = 12%
Therefore, the firm’s return on assets (ROA) is more than 11% (option e).
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Aggies Corporation has the following year-end adjusted account balances (before closing): Retained Earnings, $223,000; Sales Revenue, $865,000; Cost of Goods Sold, $383,000; Rent Expense, $143,000; Interest Expense, $78,000; and Dividends, $53,000.
Record the necessary closing entries.
In closing entries, all temporary accounts should be closed, and no permanent accounts should be closed.
The necessary closing entries for Aggies Corporation having the following year-end adjusted account balances (before closing):
Retained Earnings, $223,000;
Sales Revenue, $865,000;
Cost of Goods Sold, $383,000;
Rent Expense, $143,000;
Interest Expense, $78,000;
Dividends, $53,000 are as follows:
Closing entries are the entries that are used to reset the balances of the temporary accounts to zero so that they are ready to be used in the next accounting period.
The temporary accounts are closed at the end of an accounting year to prepare them for the next accounting period.
The temporary accounts are the accounts that are used to record revenues, expenses, and dividends for a specific accounting period.
The closing entries are as follows: 1. Close the revenue account
Sales Revenue
$865,000
Retained Earnings
$865,000
2. Close the expense accounts
Rent Expense$143,000
Interest Expense$78,000
Cost of Goods Sold$383,000
Retained Earnings$604,000
3. Close the dividends account
Dividends$53,000
Retained Earnings$53,000
Therefore, the necessary closing entries are as follows:
S.No.AccountsDebitCredit1
Sales Revenue$865,000
Retained Earnings$865,0002
Rent Expense$143,000
Interest Expense$78,000
Cost of Goods Sold$383,000
Retained Earnings$604,0003
Dividends$53,000
Retained Earnings$53,000
In closing entries, all temporary accounts should be closed, and no permanent accounts should be closed.
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Buyers and sales people in B2B are often considered more dependant on each other because:
a.
They take each other's phone calls
b.
Their relationship is dependent on exchanging money
c.
Their relationship requires mutual information sharing
d.
They don't see each other very often
Buyers and salespeople in B2B (business-to-business) relationships are often considered more dependent on each other because their relationship requires mutual information sharing.
1. Increased understanding: In B2B transactions, buyers and salespeople often engage in in-depth discussions to better understand each other's needs, goals, and challenges.
2. Collaborative problem-solving: Buyers and salespeople collaborate closely to address complex challenges. By sharing information, they can collectively analyze and brainstorm potential solutions.
3. Long-term partnerships: B2B relationships are often built on long-term partnerships rather than one-time transactions. In these partnerships, buyers and salespeople rely on each other for ongoing support and guidance.
4. Customization and personalization: B2B buyers have unique needs and preferences. By sharing information, salespeople can customize their offerings to align with these specific requirements.
Buyers and salespeople in B2B relationships are more dependent on each other because their relationship requires mutual information sharing. This sharing of information enhances understanding, enables collaborative problem-solving, fosters long-term partnerships, and facilitates customization and personalization.
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As you are probably aware of the US$29bn acquisition deal made by Block (previously known as Square), an American fintech company, to take over Afterpay, a successful Australian fintech, in 2021 - early 2022. Suppose that, to finance this buyout, Block/Square needed to raise funds via international bond sales. More specifically, it considered to issue Kangaroo bonds, and USD-denominated Eurobonds in different regions including Asia, Latin America, Europe.
Taking into account the recent macroeconomic environment, compare and contrast the benefits of each financing option. Which one do you think would be more beneficial for Block/Square?
Block (previously known as Square) is a US-based fintech company that has announced its acquisition of Afterpay, an Australian fintech company, in a US$29bn deal in early 2022.
Specifically, it considered issuing Kangaroo bonds and USD-denominated Eurobonds in different regions including Asia, Latin America, Europe.Macroeconomic environment refers to the broader economic conditions in which a company operates. It includes factors such as inflation, GDP, interest rates, and other economic indicators. The macroeconomic environment can affect the availability of financing options and their cost. The choice of financing will depend on the macroeconomic environment and the benefits that each financing option offers.
Therefore, let's consider each financing option and their benefits:Kangaroo bonds: Kangaroo bonds are Australian dollar-denominated bonds issued by foreign entities in Australia. The advantages of issuing Kangaroo bonds include access to a new pool of investors, diversification of funding sources, and lower issuance costs. One disadvantage of issuing Kangaroo bonds is that they are exposed to currency risk since the bond is denominated in Australian dollars, and the issuer is based in another country. Also, if the Australian dollar appreciates, the interest and principal payments will be more expensive in the issuer's currency.
USD-denominated Eurobonds: Eurobonds are bonds issued in a currency different from the currency of the country where they are issued. USD-denominated Eurobonds are Eurobonds denominated in USD. The benefits of issuing USD-denominated Eurobonds include access to a broad pool of international investors, lower issuance costs, and a fixed exchange rate between the issuer's currency and the USD. Additionally, USD is a widely accepted currency that provides a lower currency risk. One disadvantage of USD-denominated Eurobonds is that the issuer is exposed to interest rate risk.
Which financing option is more beneficial for Block/Square? Given the current macroeconomic environment, USD-denominated Eurobonds are more beneficial than Kangaroo bonds for Block/Square. This is because the US Federal Reserve's monetary policy is accommodative, and the interest rates are low. Moreover, USD is a widely accepted currency that provides a lower currency risk. Additionally, Block/Square is a US-based company, so issuing USD-denominated Eurobonds can provide a better alignment of currency risk and exposure.
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Net income for 2020 was $128,560. No gains or losses were recorded in 2020 . 2. Cash dividends of $64,460 were declared and paid. 3. Bonds payable amounting to $50,000 were retired through issuance of common stock. Determine Novak Corporation's current cash debt coverage, cash debt coverage, and free cash flow. (Round current cash debt coverage and cash debt coverage to 2 decimal places, e.g. 0.67.) Comment on its liquidity and financial flexibility. Novak has liquidity. Its financial flexibility is
Given:Net Income = $128,560Cash Dividends declared and paid = $64,460Bonds payable retired by issuing Common Stock = $50,000Now, the Cash Debt Coverage Ratio is calculated using the formula.
Cash Debt Coverage Ratio = Operating Cash Flows / Total Debt
Total Debt = Bonds Payable
= $50,000Operating Cash Flows
= Net Income + Depreciation - Gains + LossesWhere, no Gains or Losses are recorded in 2020, soOperating Cash Flows = Net Income + DepreciationOperating Cash Flows
= $128,560 + 0
= $128,560So, Cash Debt Coverage Ratio
= $128,560 / $50,000Cash Debt Coverage Ratio
= 2.57Hence, Cash Debt Coverage Ratio is 2.57.The Current Cash Debt Coverage Ratio is calculated using the formula:Current Cash Debt Coverage Ratio = Cash Flows from Operating Activities / Current LiabilitiesCurrent Liabilities = Bonds Payable
= $50,000Current Cash Debt Coverage Ratio = $128,560 / $50,000Current Cash Debt Coverage Ratio = 2.57.
Hence, Current Cash Debt Coverage Ratio is 2.57.Free Cash Flow is calculated using the formula:Free Cash Flow = Operating Cash Flow - Capital ExpenditureOperating Cash Flows = $128,560Capital Expenditure = $0Free Cash Flow = $128,560 - $0Free Cash Flow
= $128,560Hence, Free Cash Flow is $128,560.In conclusion, Novak Corporation has a higher value of cash debt coverage ratios, which indicates its liquidity and financial flexibility.
Its cash debt coverage ratio is 2.57, while its current cash debt coverage ratio is also 2.57. The higher the value of cash debt coverage ratios, the better the liquidity and financial flexibility. Thus, Novak has liquidity, and its financial flexibility is good.
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Advances in information technology reduced the cost of production of computers and other electronic devices. As a result,
a. the supply of computers and electronic devices decreased and the price of these devices fell.
b. the supply of computers and electronic devices increased and the price of these devices fell.
c. the demand for computers and electronic devices increased and the price of these devices fell.
Advances in information technology reduced the cost of production of computers and other electronic devices. As a result, the supply of computers and electronic devices increased and the price of these devices fell.
The increase in the supply of these devices resulted in a decrease in their price, which in turn led to an increase in demand for these devices.
As the demand increased, the prices continued to decrease, resulting in a greater supply of computers and electronic devices.
This cycle continued until the cost of production was so low that even the smallest businesses could afford to purchase these devices. The reduction in the cost of production has also led to the development of new and innovative products in the field of information technology. This has allowed for further advancements in technology and the creation of new industries.
In conclusion, the advances in information technology have had a significant impact on the production and pricing of computers and electronic devices.
The result of these advancements has been a greater supply of these devices, which has led to lower prices and increased demand.
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A company has two bonds that are the same except for the time to maturity. Bond D matures in 5 years, while Bond E matures in 10 years. If the required return changes by 4 percent, then Multiple Choice bond E will have a greater percentage change in price the percentage change in price for the bonds will be the same bond D will have a greater percentage change in price the price change for the bonds will be the same
A bond is a sort of instrument used in finance where the issuer owes the person who holds it a debt and is required, depending on the terms, to give the creditor cash flow. An IOU-like debt security is dubbed a bond. Borrowers create bonds to get money from investors who are willing to lend to them for a set length of time. When you buy a bond, you are lending money to the issuer, who could be a business, an organization, a municipality or both.
Bonds are financial instruments that assist corporations and the government in obtaining funding from the general public for their projects. Bonds come in both short- and long-term varieties. The maturity of short-term bonds ranges from one to three years.
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The annual demand for a specific product is 3,500 units and has the following ordering and holding costs: Co = $20.50 per order and Ch = $8.00 per unit. Demand exhibits some variability such that the lead-time demand follows a normal probability distribution with = 45 units and = 12 units.
A) Problem 2a. ( What is the recommended order quantity for this product? Express your answer as a whole number using standard rounding rules.
Order Quantity = ___ Units
B) Problem 2b. If the manager sets the reorder point at 55 units, what is the probability of a stockout in any given order cycle? Express your answer as a decimal to 4 decimal places using standard rounding rules.
Probability of a stockout = ___.
C) Problem 2c. Given the probability of a stockout in problem 2b, how many times would expect a stockout to occur during the year if the reorder point = 55 units were used? Express your answer to 2 decimal places using standard rounding rules.
Number of order cycles with a stockout = ___ order cycles
The recommended order quantity for this product is 43 units and the probability of a stockout in any given order cycle is approximately 0.2317.
To solve this problem, we can use the Economic Order Quantity (EOQ) model and some additional calculations.
A) Calculate the Recommended Order Quantity:
EOQ formula:
EOQ = √((2 * Co * D) / Ch)
Where:
Co = Ordering cost per order = $20.50
Ch = Holding cost per unit = $8.00
D = Annual demand = 3,500 units
Substituting the values:
EOQ = √((2 * $20.50 * 3,500) / $8.00)
EOQ ≈ √(14,700 / 8.00)
EOQ ≈ √1,837.5
EOQ ≈ 42.91
Therefore, the recommended order quantity for this product is 43 units (rounded to the nearest whole number).
B) Calculate the Probability of Stockout:
To calculate the probability of a stockout, we need to determine the standard deviation of the lead-time demand.
Standard deviation of the lead-time demand (σ) = 12 units
Probability of stockout = Z-value * σ / EOQ
Where Z-value corresponds to the reorder point.
Given that the reorder point is set at 55 units:
Z-value = (55 - mean demand) / σ
= (55 - 45) / 12
= 10 / 12
= 0.8333
Probability of stockout = 0.8333 * 12 / 43
≈ 0.2317
Therefore, the probability of a stockout in any given order cycle is approximately 0.2317.
C) Calculate the Number of Order Cycles with a Stockout:
To determine the number of order cycles with a stockout, we need to multiply the probability of stockout by the number of order cycles per year.
Number of order cycles with a stockout = Probability of stockout * Number of order cycles per year
Assuming there are 1 order cycle per year:
Number of order cycles with a stockout = 0.2317 * 1
≈ 0.23
Therefore, if the reorder point of 55 units is used, we can expect approximately 0.23 order cycles with a stockout per year (rounded to 2 decimal places).
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An asset has an average return of 10.55 percent and a standard devlation of 22.59 percent. What is the most you should expect to earn in any glven year with a probability of 16 percent? (That is, 16% of returns should be above what number?)
Multiple Choice
a 23.34%
b. 34.63%
c. 33.148
d. 57.22%
e. 12.04%
The correct option is D.
Determine the probability of returns above two standard deviations:
Probability = 100% - 16% = 84%
Calculate the value of one standard deviation above the mean:
μ + 1σ = 10.55% + 22.59% = 33.14%
Calculate the value of two standard deviations above the mean:
μ + 2σ = 10.55% + 2(22.59%) = 55.73%
Write the probability as an inequality:
P(X > μ + 2σ) = 0.84
Standardize the inequality using the Z-score formula:
Z = (X - μ) / σ
Z = (X - 10.55%) / 22.59%
Solve for X:
X - 10.55% = Z × 22.59%
X = Z × 22.59% + 10.55%
Find the Z-score corresponding to a 84% probability using a Z-table or calculator:
Z ≈ 0.99
Substitute the value of Z into the equation to find X:
X = 0.99 × 22.59% + 10.55%
X ≈ 33.14%
Therefore, the correct answer is that 16% of returns should be above approximately 33.14%.
Option C, 33.148%, is the closest value to this result.
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What is the difference between an ordinary firm and a firm that
follows the prescriptions offered in the Know Your Customers' "Jobs
to Be Done" reading?
The difference between an ordinary firm and a firm that follows the prescriptions offered in the Know Your Customers' "Jobs to Be Done" reading lies in their approach to understanding and meeting customer needs.
An ordinary firm typically focuses on selling products or services without a deep understanding of why customers purchase them. They may rely on assumptions or generalizations about customer preferences and needs. This can lead to a disconnect between the firm's offerings and what customers actually want.
On the other hand, a firm that follows the prescriptions in the "Jobs to Be Done" reading takes a more customer-centric approach. They strive to understand the underlying motivations and goals that drive customers to seek out a particular product or service. This involves identifying the "job" that customers are trying to accomplish and designing offerings that align with those specific needs.
To illustrate this difference, let's consider an example. Imagine an ordinary firm that sells smartphones. They may focus on promoting the features and specifications of their phones without considering the specific "jobs" that customers are trying to fulfill. As a result, they may overlook important factors such as usability, convenience, or the need for seamless integration with other devices.
In contrast, a firm that embraces the "Jobs to Be Done" approach would dig deeper to understand why customers are in the market for a smartphone. They might find that customers are looking for a device that helps them stay connected with friends and family, capture and share memories, and access information on the go. Armed with this understanding, the firm can tailor its product and marketing strategies to address these specific needs. They might focus on features like intuitive user interfaces, high-quality cameras, and seamless integration with social media platforms.
By adopting the "Jobs to Be Done" framework, firms can gain a deeper understanding of their customers' needs, preferences, and motivations. This allows them to create products and services that are more aligned with what customers truly value, ultimately leading to increased customer satisfaction and business success.
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On June 30, 2021, Singleton Computers issued 8% stated rate bonds with a face amount of $100 million. The bonds mature on June 30,2036 (15 years). The market rate of interest for similar bond issues was 5% (2.5\% semiannual rate). Interest is paid semiannually (4.0\%) on June 30 and December 31, beginning on December 31, 2021. (FV of \$1. PV of \$1, FVA of \$1, PVA of \$1. FVAD of \$1 and PVAD of 51 (Use mppropriate factor(s) from the tables provided.) Required: 1. Determine the price of the bonds on June 30,2021. 2. Calculate the interest expense Singleton reports in 2021 for these bonds using the effective interest method. X Answer is not complete. Complete this question by entering your answers in the tabs below. Determine the price of the bonds on June 30, 2021. (Enter your answers in whole dollars. Round percentage answers to one decimal place. Round your final answers to nearest whole dollar amount.) On June 30, 2021, Singleton Computers issued 8% stated rate bonds with a face amount of $100million. The bonds mature on June 30,2036 (15 years). The market rate of interest for similar bond issues was 5% (2.5\% semiannual rate) interest is paid semiannually (4.0%) on June 30 and December 31 , beginning on December 31,2021 . (FV of \$1, PV of \$1. PVA of \$1, PVA of \$1, FVAD of \$1 and PVAD of \$1) (Use appropriate factor(s) from the tables provided.) Required: 1. Determine the price of the bonds on June 30,2021 , 2. Calculate the interest expense Singleton reports in 2021 for these bonds using the effective interest method. X Answer is not complete. Complete this question by entering your answers in the tabs below. Calculate the interest expense Singleton reports in 2021 for these bonds using the effective interest method. (Enter your antiwers in whole dollars. Round your final answers to nearest whole dollar amount)
1. Determining the price of bonds on June 30, 2021The given information are:
[tex]FV of $1, PV of $1, PVA of $1, PVA of $1, FVAD of $1[/tex]and PVAD of $1Market rate of interest = 5%
stated rate of interest = 8% The face amount of the bonds is $100 million. Interest is paid semiannually.
Therefore, the periodic rate of interest is = 4%. Bond’s price is equal to the present value of all future cash flows of the bond. The bond will give 30 semiannual interest payments of $4 million each.
The present value of all these cash flows will give the price of the bond, which can be calculated as:
Price of bond = PV of interest payments + PV of principal repayment
PV of interest payments = 4 x PVA (15, 2.5%) x $100 million
= 4 x 10.963 x $100 million
= $438.52 million PV of principal repayment = PV (1, 2.5%, 30, $100 million)= $55.74 million.
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Lew, the Operations Manager of BIG Time Arena, Inc. was friendly with Wayne who worked for ABC RESORTS Inc.. Lew and Wally knew each other from college. A few weeks ago Lew and Wally reconnected at a convention of resort managers. During dinner Lew said to Wally, "it would be great if we worked together, I think we would make a great team." Wally responded, "I think it would be great but I think I should stay with ABC RESORTS for another 3 months since I will get an end of quarter bonus at that point. Lew said, "whatever works for you." Wally did leave ABC Resorts after 3 months and came to work for Big Time Arena. It turned out that Wally had eight more months on his contract with ABC RESORTS. Does ABC RESORTS have a legal claim against BIG Time Arena? What legal principle applies? Describe fully the legal principle and explain why ABC RESORTS has OR does not have a valid legal claim.
ABC RESORTS may have a legal claim against BIG Time Arena based on the legal principle of interference with contractual relations. However, the outcome would depend on various factors, such as the terms of Wally's contract and the nature of the conversation between Lew and Wally.
The legal principle that applies in this scenario is interference with contractual relations. ABC RESORTS may argue that BIG Time Arena, through Lew's conversation with Wally, induced Wally to breach his contract with ABC RESORTS by leaving before the contract's expiration.
To determine the validity of ABC RESORTS' legal claim, several factors need to be considered. Firstly, the terms and conditions of Wally's contract with ABC RESORTS should be reviewed. If the contract explicitly prohibits Wally from terminating the agreement before its designated end date, ABC RESORTS would have stronger grounds for a claim.
Additionally, the nature of the conversation between Lew and Wally becomes crucial. If Lew actively encouraged Wally to breach his contract or knowingly induced him to leave before the contract's expiration, ABC RESORTS may have a valid legal claim against BIG Time Arena.
However, if the conversation between Lew and Wally was merely a casual expression of interest without any explicit inducement to breach the contract, ABC RESORTS' claim might be weaker.
Ultimately, the outcome of the legal claim would depend on the specific circumstances, contractual terms, and evidence presented, including the intent and actions of the parties involved.
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explain how you would go about determining Energy company credit
rating, and rate the utility?
Determining the credit rating of an energy company involves analyzing its financials, industry conditions, and debt structure, while the utility's credit rating reflects its creditworthiness and risk of default.
The credit rating agencies assess various aspects of the company's operations to evaluate its ability to meet its financial obligations and the level of risk associated with lending to or investing in the company. The utility's credit rating is an indicator of its creditworthiness and the likelihood of defaulting on its debt obligations.
To determine the credit rating, the following steps can be taken:
Evaluate financial statements: Analyze the company's financial statements, including balance sheets, income statements, and cash flow statements, to assess its profitability, liquidity, and leverage.
Assess industry and market conditions: Consider the company's position within the energy sector, market demand, competition, and regulatory environment to evaluate the potential risks and opportunities.
Review debt structure: Examine the company's debt structure, including the amount of outstanding debt, maturity dates, interest rates, and any covenants or restrictions associated with the debt.
Evaluate credit metrics: Calculate key financial ratios such as debt-to-equity ratio, interest coverage ratio, and cash flow coverage ratio to assess the company's ability to service its debt.
Consider external factors: Take into account macroeconomic factors, industry outlook, regulatory changes, and any geopolitical risks that may impact the company's creditworthiness.
Based on the analysis, the credit rating agencies assign a credit rating to the utility, typically using a standardized rating scale (e.g., AAA, AA, A, BBB, etc.). This rating reflects the agency's assessment of the company's credit risk and provides valuable information to lenders, investors, and other stakeholders in making informed decisions.
Hence, by thoroughly assessing the company's financials, industry conditions, debt structure, and other relevant factors, the credit rating agencies determine the credit rating of the energy company and rate the utility accordingly.
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2. a. Briefly describe the key assumptions of the Neoclassical school of economic thought. b. What would be the policy response to a recession by the policy makers who believe in the Neoclassical perspective? Why?
a. The Neoclassical school of economic thought is based on several key assumptions.
One of the main assumptions is that individuals are rational decision-makers who maximize their utility or satisfaction. This means that people make choices based on their preferences and the available options.
Another assumption is that markets are efficient and tend to reach equilibrium. In other words, supply and demand forces will lead to the optimal allocation of resources.
Neoclassical economists also assume that individuals have perfect information and are able to accurately assess costs and benefits. Lastly, the Neoclassical school assumes that individuals and firms act independently and aim to maximize their own self-interest.
b. Policy makers who believe in the Neoclassical perspective would typically advocate for a hands-off approach to dealing with a recession.
They believe that markets are self-correcting and that government intervention can hinder the natural adjustment process. Instead of implementing expansionary fiscal policies like increased government spending or tax cuts, Neoclassical policy makers would likely focus on maintaining a stable macroeconomic environment.
This could involve ensuring price stability through monetary policy, such as controlling inflation through interest rate adjustments. They may also advocate for structural reforms to improve market efficiency and reduce barriers to entry.
By allowing markets to freely adjust and promoting a stable economic environment, Neoclassical policy makers believe that the economy will recover on its own without government intervention.
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1. Why does the U.S. have such a large trade deficit? It also has large budget deficit (projected at $3 trillion this year with COVID)? Should it be concerned with either? Both? Neither? Explain your logic.
A trade deficit occurs when the value of goods and services imported into a country exceeds the value of goods and services exported from the country. The US has had a trade deficit for several decades because it imports more than it exports.
The US is the world's largest importer of goods and services, while China is the world's largest exporter of goods and services. The US trade deficit with China is one of the main reasons for the overall US trade deficit.There are several reasons why the US has a large trade deficit. One reason is that the US is a consumer-driven economy, which means that it relies heavily on imports to satisfy its demand for goods and services. The US also has a relatively high standard of living compared to many other countries, which means that it consumes more than it produces.
In addition, the US has a strong currency, which makes imports cheaper and exports more expensive. Finally, the US has a large budget deficit, which means that it is borrowing money to finance its spending. This puts downward pressure on the value of the dollar, which makes imports cheaper and exports more expensive. The answer is yes, but to varying degrees. A trade deficit can be a concern because it can lead to a loss of jobs in certain industries, such as manufacturing.
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Functional managers tend to have more of what type of authority
than project managers?
A.Personal
B.Expert
C.Formal or positional authority.
D.Referent
Functional managers tend to have more formal or positional authority than project managers.
Functional managers typically hold formal or positional authority within an organization. This type of authority is derived from their designated role and hierarchical position within the organizational structure. They have the power to make decisions, allocate resources, and direct the activities of their respective functional areas. This authority is based on their expertise, experience, and responsibility for a specific department or function.
On the other hand, project managers often have limited formal authority in comparison to functional managers. Their authority is primarily derived from the temporary nature of their role, which is focused on managing a specific project. Project managers usually have authority over project-specific decisions, coordination of resources, and managing the project team. Their authority is often based on their ability to influence and negotiate rather than formal hierarchical power.
While functional managers have authority within their specific functional areas, project managers rely more on their interpersonal and leadership skills to navigate cross-functional teams and stakeholders. They often need to collaborate and influence various stakeholders to accomplish project objectives, without direct control over the resources or personnel involved.
In summary, functional managers tend to possess more formal or positional authority within an organization, while project managers typically rely on their interpersonal and leadership skills to accomplish project goals in a temporary and cross-functional context.
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