Four types of errors or biases that might have occurred in employee performance appraisal are:1. Halo effect: This is when a positive impression of an employee is developed because of the employee’s skills, communication, or other attributes.
This positive impression often leads to bias, which makes it difficult for a performance appraisal to be conducted fairly.2. Leniency bias: When a manager gives high ratings to employees without thoroughly evaluating their performance, it is known as leniency bias.3. Recency bias: It occurs when a manager only considers an employee’s recent performance without taking into account the employee’s previous performance.4. Contrast error: This occurs when a manager compares an employee's performance with the performance of other employees rather than their own personal performance.Jennifer should pay attention to each of these errors and biases because they affect the fairness of the appraisal process and can result in a poor rating for an employee who deserves a higher rating. To ensure the appraisal process is effective, Jennifer must take note of these errors to address any form of bias that may have influenced the assessment. In essence, being aware of these errors and biases will enable Jennifer to conduct fair and unbiased performance appraisals.
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31- Off Roadin' Inc. builds customized ATVs. On average, it uses 40 tires a day in its manufacturing process. It takes 4 days to receive a shipment of tires once an order is placed. Off Roadin' has a policy of maintaining 80 tires as a safety stock. What is the reorder point level of inventory?
Multiple Choice
160
320
80
240
0
The reorder point for Off Roadin' Inc. is 240 units.
This is calculated by adding the expected usage during the lead time (40 units/day * 4 days) to the safety stock (80 units).
The reorder point formula is (daily usage * lead time) + safety stock. Here, daily usage is 40 units and lead time is 4 days, so the demand during lead time is 160 units (40*4). Adding the safety stock of 80 units gives us a total of 240 units. This is the level at which a new order should be placed to replenish inventory.
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41. ‘Crowding out’ results when private borrowers lend their
money to businesses rather than purchase government bonds.
Group of answer choices
True
False
'Crowding out' occurs when private borrowers choose to lend their money to businesses instead of investing in government bonds. This phenomenon can have an impact on the availability of funds for the government.
Crowding out refers to a situation where increased borrowing by the government reduces the funds available for private borrowers in the market. In this context, when private individuals or institutions choose to lend their money to businesses instead of purchasing government bonds, it reduces the demand for those bonds. Consequently, the government may face difficulties in raising funds through bond sales, leading to higher interest rates. This dynamic is known as 'crowding out' because private investment is crowded out by government borrowing. It is important to note that the occurrence of crowding out is a subject of debate among economists, with varying opinions on its significance and impact.
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Exarcise 0.8 (Static) Compute the Margin of Safety (LO6-7) Peepired: 1. What a the comcasty/s margen of salety? 2. What is the compary's margit of salety as a percentage of is saits?
The margin of safety is a financial ratio that measures the degree of protection a company has against a decline in sales. A negative margin of safety indicates that the company's sales are below the breakeven point, posing a risk of losses.
It is calculated by subtracting the breakeven point from the actual sales volume.
To compute the margin of safety, we need to follow these steps:
1. Determine the breakeven point: This is the level of sales at which the company neither makes a profit nor incurs a loss. It can be calculated by dividing the fixed costs by the contribution margin ratio. The fixed costs are the expenses that do not change with the level of production or sales, while the contribution margin ratio is the difference between sales revenue and variable costs, divided by sales revenue.
2. Calculate the actual sales volume: This is the total revenue generated by the company.
3. Subtract the breakeven point from the actual sales volume: This will give us the margin of safety. A positive margin of safety indicates that the company's sales are above the breakeven point, providing a cushion against potential losses. On the other hand, a negative margin of safety indicates that the company's sales are below the breakeven point, posing a risk of losses.
To express the margin of safety as a percentage of sales, we can divide the margin of safety by the actual sales volume and multiply by 100.
It's important to note that the margin of safety is a relative measure and can vary across industries and companies. It helps assess the financial stability and risk of a company, indicating its ability to withstand changes in sales volume.
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Define and explain the internal rate of return on a new
investment?
It provides insights into the potential return on investment and helps in decision-making regarding investment opportunities.
The internal rate of return (IRR) is a financial metric used to evaluate the profitability and attractiveness of an investment.
It represents the discount rate at which the net present value (NPV) of the investment becomes zero.
In simpler terms, it is the rate of return at which the present value of the investment's cash inflows equals the present value of its cash outflows.
To calculate the internal rate of return, the cash inflows and outflows generated by the investment over its lifetime are discounted back to their present values using the IRR as the discount rate.
The IRR is the rate that makes the present value of these cash flows equal to zero.
If the IRR of an investment is greater than the required rate of return or the cost of capital, it indicates that the investment is potentially profitable. On the other hand, if the IRR is lower than the required rate of return, it suggests that the investment may not meet the desired profitability threshold.
The IRR is a useful tool for comparing different investment opportunities or projects.
Investors and businesses often use it to assess the relative merits of various investment options. The higher the IRR, the more attractive the investment is considered.
One important characteristic of the IRR is that it considers the time value of money. It takes into account the timing and magnitude of cash flows, giving more weight to cash flows received earlier.
This allows for a more accurate assessment of the investment's potential returns.
It's worth noting that the IRR has limitations. It assumes that cash flows generated by the investment are reinvested at the same rate as the IRR, which may not always be realistic.
Additionally, the IRR may yield multiple values or not exist for certain investment cash flow patterns.
In summary, the internal rate of return (IRR) is a financial metric that helps assess the profitability of an investment by determining the discount rate at which the present value of cash inflows equals the present value of cash outflows.
It provides insights into the potential return on investment and helps in decision-making regarding investment opportunities.
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d) Secret Bakery bought a mixer at the cost of RM12,500. It is expected to last for eight years and has a salvage value of RM4,500. Calculate the book value of the mixer after four years by using declining balance method. (5 marks)
The declining balance method is a form of accelerated depreciation. Under this method, depreciation expense is calculated by applying a constant rate to a declining book value. The rate used is usually twice the straight-line rate. Thus, the formula for calculating depreciation using the declining balance method is:
Depreciation Expense = Beginning Book Value × Declining Balance Rate
Where:
Declining Balance Rate = 2 / Useful Life in Years
Calculation of the book value of the mixer:
Given that
Secret Bakery bought a mixer at the cost of RM12,500 and it is expected to last for eight years and has a salvage value of RM4,500.
After four years the useful life of the asset would be (8-4) = 4 years.
Useful Life = 8 years
Residual Value = RM4,500
Depreciation Rate = (2/8) = 25%Year Book Value Depreciation Depreciation Expense1 RM 12,500 RM 3,125 RM 3,1252 RM 9,375 RM 2,344 RM 2,3443 RM 7,031 RM 1,758 RM 1,7584 RM 5,273.25 RM 1,318.31 RM 1,318.31
Therefore, the book value of the mixer after four years by using the declining balance method is RM5,273.25
The table below shows the calculation of the book value of the mixer:
Year Book Value Depreciation Expense Accumulated Depreciation1 RM 12,500 RM 3,125 RM 3,1252 RM 9,375 RM 2,344 RM 5,4693 RM 7,031 RM 1,758 RM 7,2274 RM 5,273.25 RM 1,318.31 RM 8,545.31
In summary, after four years the book value of the mixer would be RM5,273.25 by using the declining balance method.
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As a result of a slowdown in operations, Tradewind Stores is offering employees who have been terminated a severance package of $105,000 cash paid today: $105,000 to be paid in one year; and an annuity of $33,000 to be paid each year for 8 years.
What is the present value of the package assuming an interest rate of 11 percent?
The present value of the severance package is approximately $400,931.93 when using an interest rate of 11 percent.
To calculate the present value of the severance package, we need to discount each cash flow using the given interest rate of 11 percent. The present value of each cash flow is determined by dividing the future cash flow by (1 + interest rate) raised to the power of the number of periods.
The cash flows in the severance package are as follows:
Cash flow today: $105,000
Cash flow in one year: $105,000
Cash flow each year for 8 years: $33,000
Calculating the present value for each cash flow:
Present value of cash flow today = $105,000 / (1 + 0.11)^0 = $105,000
Present value of cash flow in one year = $105,000 / (1 + 0.11)^1 = $94,594.59
Present value of cash flows for 8 years:
PV = $33,000 / (1 + 0.11)^1 + $33,000 / (1 + 0.11)^2 + ... + $33,000 / (1 + 0.11)^8
PV = $33,000 * (1 - (1 + 0.11)^-8) / 0.11 = $201,337.34
Total present value of the severance package:
Present value = Present value of cash flow today + Present value of cash flow in one year + Present value of cash flows for 8 years
Present value = $105,000 + $94,594.59 + $201,337.34 = $400,931.93
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What is the Prescriptive Analytics? Give a clear example for Prescriptive analytics
Prescriptive Analytics is a type of data analytics which is utilized for offering recommendations about future decisions or actions.
The prescriptive analytics system comprises of various machine learning algorithms, data mining, business rules, and other analytics processes. It assists organizations in identifying potential risks and opportunities and in devising actions that can result in improved business outcomes.
Example: Consider the example of a logistics company that delivers goods. In order to deliver goods in the most efficient way possible, it has to analyze various factors such as distance between delivery locations, traffic conditions, the size of the delivery truck, and others.
By utilizing prescriptive analytics, the logistics company can develop a plan that determines the best route and delivery schedule for each truck, taking into account all relevant factors.The prescriptive analytics system used by the logistics company will not only identify the most efficient route but also offer recommendations about when to schedule deliveries, which truck to use, and whether any additional resources or equipment may be required. It can also analyze the past performance data to optimize the delivery process in the future.
This example highlights how prescriptive analytics can be used to drive efficiency and effectiveness in business operations.
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The U.S. has a "balance of trade" deficit when its: merchandise exports exceed its merchandise imports merchandise imports exceed its merchandise exports goods and services exports exceed its goods an
The U.S. has a "balance of trade" deficit when its merchandise imports exceed its merchandise exports. The balance of trade is the difference between a nation's exports and imports of goods. If a country's total exports are greater than its total imports, it has a favorable balance of trade or a trade surplus.
In contrast, if its imports exceed its exports, it has an unfavourable balance of trade or a trade deficit. A balance of trade deficit occurs when a country imports more goods and services than it exports. When this happens, more money is leaving the country than coming in. As a result, the country may experience a decline in its currency's value and inflation.
The U.S. has a "balance of trade" deficit when its merchandise imports exceed its merchandise exports. The balance of trade is the account that details the value of exported goods and the value of imported goods. To calculate the balance of trade, the national accounts service evaluates imports and exports of goods based on customs statistics on goods.
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Where is the British Pound Sterling this week? What is the
recent trend? What do you think is troubling the Pound? （Be
specific please)
The British Pound Sterling (GBP) has seen a recent drop in value against other currencies, particularly the US dollar (USD) and the Euro (EUR). Over the past week, the GBP/USD exchange rate has dropped from around 1.39 to 1.37, while the GBP/EUR rate has fallen from approximately 1.17 to 1.16
The British Pound Sterling (GBP) has seen a recent drop in value against other currencies, particularly the US dollar (USD) and the Euro (EUR). Over the past week, the GBP/USD exchange rate has dropped from around 1.39 to 1.37, while the GBP/EUR rate has fallen from approximately 1.17 to 1.16.The recent trend has been a decline in value for the Pound Sterling. This is due to a number of factors that are currently troubling the currency. One of the main factors is the ongoing uncertainty surrounding Brexit, particularly the ongoing negotiations between the UK and the European Union (EU). There is still no clear agreement on a post-Brexit trade deal, which is causing anxiety among investors and contributing to the Pound's decline.Another factor that is troubling the Pound is the current state of the UK economy. The country is still recovering from the effects of the COVID-19 pandemic, which has led to a significant decrease in economic activity. This has caused many investors to become bearish on the Pound, which is contributing to its recent decline in value.In addition to these factors, there are also concerns about the Bank of England's monetary policy. The central bank has been taking steps to boost the economy, such as increasing its quantitative easing program and cutting interest rates. However, some investors are worried that these measures could lead to inflation, which could further weaken the Pound.Overall, the recent trend for the Pound Sterling has been a decline in value, due to a combination of Brexit uncertainty, economic weakness, and concerns about monetary policy. While it's difficult to predict exactly where the currency will go from here, it's likely that these factors will continue to be major drivers of the Pound's value in the near future.
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1. Citing clear examples, research and explain the meaning of the following terminologies in the context of international relations. Make sure you have three (3) or more verifiable references at the bottom.
(i). Hegemony
(ii). Balance of Power
(iii). Multilateralism
(iv). Bilateralism
(v). Unilateralism
(vi). Foreign Policy
(vii). Cultural Imperialism
(viii). Bipolarity
(i) Hegemony refers to the dominance of one country or group over others, often achieved through economic, military, or political power. For example, the United States has been considered a hegemonic power due to its global influence and military capabilities.
In the context of international relations, the following terminologies have specific meanings:
(ii) Balance of Power refers to the distribution of power among states to prevent any one state from dominating others.
This concept suggests that states will align themselves with other states to maintain equilibrium. An example is the Cold War era, where the United States and Soviet Union balanced each other's power through military alliances.
(iii) Multilateralism is a principle of international relations where multiple countries work together to address common issues and solve problems. Organizations like the United Nations exemplify multilateralism, as member states cooperate to promote peace, security, and development.
(iv) Bilateralism refers to relations between two countries, focusing on their mutual interests and concerns. Bilateral agreements, such as trade deals or security pacts, are negotiated directly between two states.
An example is the North American Free Trade Agreement (NAFTA) between the United States, Canada, and Mexico.
References:
- Smith, S., Hadfield, A., & Dunne, T. (Eds.). (2016). Foreign Policy: Theories, Actors, Cases. Oxford University Press.
- Baylis, J., Smith, S., & Owens, P. (Eds.). (2017). The Globalization of World Politics: An Introduction to International Relations. Oxford University Press.
- Nye, J. S. (2011). The future of power. Public Affairs.
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The CEO and CFO of an issuer are aware of significant deficiencies in the design or operation of internal controls which could adversely affect the issuer’s ability to record, process, summarize but have not identified any material weaknesses in internal controls. They must take all the following steps EXCEPT:
A.
Disclose the existence of the significant deficiencies to the external auditors
B.
Disclose the existence of the significant deficiencies to the audit committee
C.
Disclose the existence of the significant deficiencies in their report on the effectiveness of internal controls over financial reporting
D.
Certify that they have disclosed the significant deficiencies to the audit committee and the external auditors
Under Sox, if an issuer is required to prepare an accounting restatement due to the material noncompliance, as a result of misconduct, with any financial reporting requirement, the CEO and CFO of the issuer shall reimburse the issuer for:
A.
All fines and penalties incurred by the issuer due to the misstatement during the 12-month period following the issuance of the misstated statements
B.
Any bonus or other incentive-based or equity-based compensation received during the 12-month period following the issuance of the misstated statements
C.
All legal fees incurred by the issuer during the 12-month period following the issuance of the misstated statements to defend against lawsuits
D.
Their shares of legal judgments against the issuer due to the misstated statements during a five-year period following the issuance of the misstated statements
According to the 1st problem answer is D. Certify that they have disclosed the significant deficiencies to the audit committee and the external auditors.
The CEO and CFO must take all the steps mentioned in options A, B, and C, which involve disclosing the existence of significant deficiencies in internal controls to the external auditors, audit committee, and in their report on the effectiveness of internal controls. Therefore, the step they would not take is certifying that they have disclosed the significant deficiencies, as it is not mentioned as a required step.
an issuer is required to prepare an accounting restatement due to the material noncompliance, as a result of misconduct, with any financial reporting requirement, the CEO and CFO of the issuer shall reimburse the issuer for: B. Any bonus or other incentive-based or equity-based compensation received during the 12-month period following the issuance of the misstated statements
Under the Sarbanes-Oxley Act (SOX), if an issuer is required to prepare an accounting restatement due to material noncompliance resulting from misconduct with any financial reporting requirement, the CEO and CFO are required to reimburse the issuer. However, the reimbursement does not cover all fines and penalties, all legal fees, or their shares of legal judgments against the issuer. The reimbursement specifically pertains to any bonus or other incentive-based or equity-based compensation received during the 12-month period following the issuance of the misstated statements.
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T/F : Economists have not been persuaded that alternative behavioral assumptions for firms, such as sales maximization, yield superior results to the assumption of profit maximization.
True, Economists have not been persuaded that alternative behavioral assumptions for firms, such as sales maximization, yield superior results to the assumption of profit maximization.
This is because the profit maximization assumption has proven to be the most effective in explaining the behavior of firms in various industries. The theory of the firm assumes that all businesses aim to maximize their profits, but in reality, firms have different goals.
Some companies seek to maximize sales, while others prioritize the growth of market share. Nevertheless, firms that follow a sales maximization approach must keep in mind that increasing sales does not necessarily translate to more profits.
A sales maximization strategy could result in a firm reducing its prices, which could cause a drop in profits. Therefore, the assumption of profit maximization is the most effective in explaining the behavior of firms in various industries.
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Levi's ships blue jeans to retailers who show seasonality in their purchasing habits during the month. Levi's sales are weak in the Week 1 of the month, about average in Weeks 2 and 3 and spike in Week 4. Given the following information, calculate the seasonal indices for each week of the month. If 50,000 blue jeans are forecasted for next month, how many should be forecasted to be sold in Week 3? Typical Weekly Sales
Week 1 6200
Week 2 14100
Week 3 15600
Week 4 24500
Total 60400
13,491
13,162
12,914
13,380
13,096
13,563
13,205
The seasonal indices for each week of the month are as follows:
Week 1 - 0.102, Week 2 - 0.233, Week 3 - 0.257, Week 4 - 0.408. Based on these indices, the forecasted number of blue jeans to be sold in Week 3, out of a total forecasted sales of 50,000, would be approximately 12,850.
Seasonal indices help identify the variations in sales patterns based on historical data. By calculating these indices, we can determine the relative strength or weakness of sales during different weeks of the month.
To compute the seasonal indices, we divide the average sales of each week by the total average sales for the entire month. In this case, the average sales for Week 1, Week 2, Week 3, and Week 4 are 6,200, 14,100, 15,600, and 24,500, respectively. The total average sales for the month amount to 60,400.
To find the seasonal index for Week 1, we divide the average sales of Week 1 by the total average sales: 6,200 / 60,400 = 0.102.
Applying the same calculation method, we obtain the seasonal indices for Week 2 (0.233), Week 3 (0.257), and Week 4 (0.408).
These indices reveal that Week 4 experiences the highest sales volume, representing 40.8% of the total average sales. Following that, Week 3 accounts for 25.7% of the total sales, while Week 2 and Week 1 contribute 23.3% and 10.2%, respectively.
To forecast the sales for Week 3 in the upcoming month, we multiply the total forecasted sales (50,000) by the seasonal index for Week 3 (0.257): 50,000 * 0.257 = 12,850.
Consequently, based on the established seasonal pattern, it is projected that around 12,850 blue jeans would be sold in Week 3 of the next month.
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Suppose that there are substantial lags between the Central Bank making a decision to raise the interest rate, and the impacts on actual Aggregate Demand (AD). Suppose also that there is a current inflationary gap of $1,200. If the Central Bank wants to close this inflationary gap and stabilize Real GDP, which of the following should it do?
O a. Raise the interest rate such that AD shifts left by EXACTLY $1,200.
O b. Raise the interest rate such that AD shifts left by LESS than $1,200.
O c. Raise the interest rate such that AD shifts left by MORE than $1,200.
Correct Option is (c) The Central Bank should raise the interest rate such that AD shifts left by MORE than $1,200.
When there are significant lags between the Central Bank taking a decision to increase the interest rate, and the effects on actual Aggregate Demand (AD), then the Central Bank should take action to stabilize the economy. A current inflationary gap of $1,200, is the difference between the equilibrium Real GDP and the Actual GDP that is determined by the demand for goods and services, and a sustained increase in the price level.
To close this inflationary gap, the Central Bank should raise the interest rate such that AD shifts left by MORE than $1,200. When the Central Bank raises interest rates, it is expected that consumption and investment spending will decrease. This reduction in spending will lead to a reduction in aggregate demand, thus helping to close the inflationary gap.
As a result of the significant lags, the Central Bank will increase interest rates to reduce future inflation by cooling down economic development. The lag phase may last several years, hence raising the interest rate, as in the case mentioned above, must result in a considerable decrease in aggregate demand to make it worth the effort. Therefore, the Central Bank should raise the interest rate such that AD shifts left by MORE than $1,200.
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Should you pay off high interest debt before refinancing student
loans?
When considering refinancing student loans, it is always wise to consider all the options available.
High-interest debt, however, may be problematic because it can put a strain on your finances. As a result, you might need to pay off high-interest debt before refinancing student loans to ensure that the process is more comfortable and manageable.Refinancing student loans can help you obtain a lower interest rate, which will help you save money over the life of the loan. However, it is important to note that refinancing may not be the best option for everyone. Those with poor credit scores or a high debt-to-income ratio may not be eligible for refinancing. Furthermore, some borrowers may not wish to refinance if they have the option of applying for income-driven repayment (IDR) plans. These plans may be a better option for individuals who are struggling with their monthly payments or who have low income. It is recommended to consult a financial advisor or student loan expert before making any decisions about refinancing student loans.
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please explain in detail
Sheila is a young dynamic sales representative working in Tim’s team. Tim, the supervisor is a star performer and an asset to the company. He is a married man and is having an extra marital affair with Sheila. Sheila does not know that Tim is married. Sheila approaches Tim to marry her but Tim refuses. On Tim’s refusal she tells him that she will file a sexual harassment case against him. Tim gets worried and writes an e- mail to his boss Jesse complaining about Sheila’s poor performance and asks him to transfer Sheila to another team. Sheila also writes an e mail to Jesse complaining about Tim’s sexual harassment and threatens him that she will go to the press/media and report the matter if Tim is not fired. Jesse keeps quiet and does not respond to both the mails and decides to talk to both Tim and Sheila personally. Both Sheila and Tim are not aware that Jesse has been approached by both through e-mails.
As Jesse how will you negotiate with Tim and Sheila. As Tim and Sheila how will you negotiate with Jesse. How does Power ,Influence and relationship impact this negotiation process.?
In this scenario, Jesse, the boss, needs to handle a complex situation involving Tim and Sheila. Both individuals have approached Jesse with their respective complaints.
To negotiate effectively, Jesse must carefully consider the power dynamics, influence, and relationships at play.
Jesse finds himself in a delicate situation, as both Tim and Sheila have made serious allegations and threats. To negotiate with Tim, Jesse needs to address Tim's concerns about Sheila's poor performance and explore alternative solutions to resolve the issue. Jesse can emphasize the importance of maintaining a harmonious work environment and the need for Tim's cooperation in finding a suitable resolution. By assuring Tim that his concerns will be addressed, Jesse can help alleviate his worries and build trust in the negotiation process.
When negotiating with Sheila, Jesse must address her allegations of sexual harassment. It is crucial for Jesse to create a safe and supportive environment for Sheila to express her concerns. Jesse should demonstrate empathy, actively listen to Sheila's grievances, and reassure her that the matter will be thoroughly investigated. By taking her claims seriously, Jesse can help Sheila feel heard and understood, which can contribute to a more constructive negotiation process.
Power dynamics play a significant role in this negotiation. Tim, as a star performer and an asset to the company, holds a certain level of influence and leverage. Jesse needs to acknowledge Tim's value to the organization and find a way to address his concerns without compromising the company's reputation. Similarly, Sheila's threat to go to the press/media introduces an element of power in her favor. Jesse must handle this delicately to avoid any damage to the company's public image.
Influence also plays a crucial role in the negotiation process. Jesse, as the boss, holds the authority to make decisions and affect the outcomes of the situation. He can leverage his position to influence both Tim and Sheila, encouraging them to seek a resolution that is mutually beneficial. By maintaining open lines of communication, actively listening, and providing guidance, Jesse can exert his influence to steer the negotiation process towards a positive outcome.
The existing relationships among the parties involved also impact the negotiation process. Tim and Sheila are unaware that Jesse has been approached by both of them. Jesse's challenge is to navigate these relationships carefully while remaining neutral and impartial. It is important for Jesse to establish trust with both Tim and Sheila, ensuring that they feel comfortable sharing their concerns and working towards a resolution.
Overall, in this complex negotiation, Jesse must balance power dynamics, influence, and relationships to address the concerns of both Tim and Sheila. By demonstrating empathy, active listening, and fair decision-making, Jesse can facilitate a constructive negotiation process that aims to find a resolution acceptable to all parties involved.
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PROBLEM #4: worth 16 points Assume the following information for Tag Mountain Corp. Uncollectible accounts are expected to be \( 6 \% \) of the ending balance in accounts receivable). Requirement #2:
The uncollectible accounts for the year ended December 31, 2020 is $42,000.
Given information for Tag Mountain Corp.: Uncollectible accounts are expected to be 6% of the ending balance in accounts receivable Requirement.
#2: Calculate uncollectible accounts for the year ended December 31, 2020.Accounts receivable as at December 31, 2019, was $600,000; sales on account during 2020 were $3,000,000; cash collections from accounts receivable during 2020 were $2,500,000, and accounts receivable as at December 31, 2020, was $700,000.Solution: Calculation of Uncollectible accounts.
Uncollectible accounts are expected to be 6% of the ending balance in accounts receivable as at December 31, 2020.
Accounts receivable as at December 31, 2019 = $600,000.
Sales on account during 2020 = $3,000,000. Cash collections from accounts receivable during 2020 = $2,500,000,
Accounts receivable as at December 31, 2020 = $700,000.
Therefore, ending balance in accounts receivable as at December 31, 2020 = $700,000Uncollectible accounts for the year ended December 31, 2020 will be:Uncollectible accounts = 6% × Ending balance in accounts receivable= 6% × $700,000 = $42,000Therefore, the uncollectible accounts for the year ended December 31, 2020 is $42,000.
The calculation process is shown below:Uncollectible accounts = 6% × Ending balance in accounts receivable= 6% × $700,000= 0.06 × $700,000= $42,000.
Hence, the uncollectible accounts for the year ended December 31, 2020 is $42,000.
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Consider an economy that is initially in long-run equilibrium. Assume that the longrun aggregate supply curve is vertical at Y=3,000 while the short-run aggregate supply curve is horizontal at P=1.0. The aggregate demand curve is Y=2(M/P) and M=1500 so that M/P=1500 as well. Suppose now that the central bank decides to increase M, so that now M=3000. Then, the following will occur in the short run output will be 6000 and in the long run M/P=3000. in the short run output will be 4000 and in the long run M/P=3000. in the short run output will be 6000 and in the long run M/P=1500. in the long run, both output and M/P will be 3000 .
In response to an increase in money supply, the economy's output will rise in the short run due to the price stickiness, but will return to its long-run equilibrium level in the long run when prices adjust fully.
With the central bank increasing M to 3000, in the short run, given the price stickiness (P=1), the aggregate demand (AD) curve shifts to the right, leading to an increase in output. Thus, according to the given AD equation Y=2(M/P), output (Y) would be 2*(3000/1)=6000 in the short run. However, in the long run, prices are flexible and adjust to the increase in money supply, bringing the economy back to its long-run output level. Thus, the long-run equilibrium is determined by the vertical long-run aggregate supply curve at Y=3000. The price level increases so that M/P=3000.
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Consider a warehouse with 5 SKU’s. The unit selling prices for these items are $129, $5, $597, $500, and $734 respectively. The annual sales volumes for these 5 items are 931 units, 1,000 units, 2,000 units, 20 units, and 387 units. According to our discussion on inventory profiling, what percentage of the annual sales is the result from the top 20 % of the SKU’s? Ignore the percentage sign and round your answer to the nearest integer. For example, if your answer is 34.56%, input 35; if your answer is 12.23%, input 12.
Inventory profiling is a technique used to classify inventory according to its relative importance.
The ABC method is the most common method of inventory profiling.
According to the ABC inventory profiling method, there are three categories of inventory:
A, B, and C. In general, category A items represent 20% of the inventory and 80% of the revenue.
Category B items represent 30% of the inventory and 15% of the revenue.
Category C items represent 50% of the inventory and 5% of the revenue.
In this question,
we have to determine what percentage of
the annual sales is the result from the top 20% of the SKU's.
The first step is to determine the total revenue of the five SKU's:Revenue = ($129 x 931) + ($5 x 1000)
+ ($597 x 2000) + ($500 x 20) + ($734 x 387)Revenue = $120,399 + $5,000 + $1,194,000 + $10,000 + $284,358
Revenue = $1,613,757Now,
we will sort the SKU's in descending order
based on their revenue and calculate the cumulative revenue.
We will stop when the cumulative revenue reaches 20% of the total revenue.Sorted SKU's based on
revenue:SKU 3: $597 x 2,000 =
$1,194,000SKU 5: $734 x 387 = $284,358SKU 1: $129 x 931 = $120,399SKU 2: $5 x 1,000 =
$5,000SKU 4: $500 x 20 = $10,000
The cumulative revenue of the top 2 SKU's is
$1,478,358, which is more than 20% of the total revenue.
Therefore, the top 2 SKU's account for 20% of the annual sales. The percentage of the annual sales is rounded to the nearest integer.
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Policy Examples (not all-inclusive)
Unemployment Insurance
Disability Insurance
Workers Compensation
Taxes on Retirement Savings
Health insurance (e.g., expansion of Medicaid)
Tax Cut and Jobs Act
Which could be a good topic among all these policy in Public Finance and Public policy.
The Tax Cut and Jobs Act is a significant tax reform that brings changes to the tax system, affecting individuals, businesses, government revenue, economic growth, income distribution, and social welfare.
A good topic in Public Finance and Public Policy among the listed policies could be "Tax Cut and Jobs Act."
The Tax Cut and Jobs Act is a policy that was enacted in 2017 in the United States. It made significant changes to the tax system, affecting individuals, businesses, and the overall economy. This policy is an important topic in public finance and public policy because it has wide-ranging implications for government revenue, economic growth, income distribution, and social welfare.
Some key points to consider when exploring the Tax Cut and Jobs Act as a topic in public finance and public policy:
1. Overview: Provide an overview of the Tax Cut and Jobs Act, including its goals, main provisions, and how it impacts different stakeholders such as individuals, businesses, and the government.
2. Economic Impact: Discuss the economic impact of the policy. For example, analyze how the tax cuts may stimulate economic growth, create jobs, and attract investment. However, also consider potential downsides, such as increased government deficits and the distributional effects on income inequality.
3. Revenue Effects: Examine the revenue effects of the Tax Cut and Jobs Act. Evaluate whether the tax cuts lead to increased government revenue through economic growth or if they contribute to budget deficits. Discuss how these revenue effects can influence public finance decisions and the government's ability to fund various programs and services.
4. Distributional Effects: Analyze the distributional effects of the policy. Assess how the tax cuts disproportionately benefit certain income groups or businesses and consider the potential implications for income inequality. Discuss how these distributional effects align with broader public policy goals of equity and social welfare.
5. Policy Evaluation: Critically evaluate the Tax Cut and Jobs Act as a public finance policy. Assess its effectiveness in achieving its intended goals and consider alternative approaches that could have been taken. Discuss the trade-offs and potential unintended consequences of the policy.
By exploring the Tax Cut and Jobs Act as a topic in public finance and public policy, you can gain insights into the complexities of tax policy, its impact on the economy and society, and the trade-offs involved in designing and implementing such policies.
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I have been approached to see if we can assist with the purchase of a 3.5 tonne Gross Vehicle Weight van. The money is in the budget, but before I go ahead, I would like your views, as I have been approached by a leasing company who have quoted me for this type of vehicle. They propose to charge us H$ 400.00 per month based on a 7-year contract at 24,000 kilometres per year. There is information in the MIS cost area that should be useful to you.
What are the risks for the company from?
Outright purchase
Lease
Contract hire
Hire purchase.
Short-term hire
Which option should we choose? Explain why.
Explain the implications for the cash flow of the company from the different options.
There are various risks for the company that are associated with the different types of options as listed below: Outright purchase: The risks for the company from outright purchase are that it can be a costly method of obtaining a van. It might have an impact on the cash flow of the company as the company will need to pay for the van upfront.
Lease: Leasing a vehicle can lead to less capital expenditure and risk. In this case, the leasing company will charge the organization a monthly fee for the use of the van and at the end of the lease, the van is returned.
Contract hire: In this case, the organization hires the vehicle for a fixed term and miles. It is a good option for a long-term rental and is easy to budget for. The contract hire agreement will determine what the monthly payments will be.
Hire purchase: The risks for the company from hire purchase are that the company is liable for the cost of the vehicle, which is paid over a longer period, and with interest. It can have a significant impact on the cash flow of the company.
Short-term hire: Short-term hire allows the organization to rent the vehicle for a short period. This option is beneficial when the organization needs a vehicle for a short period, and there is no long-term commitment.
Which option should we choose? Explain whyBased on the information provided, the company should choose to lease the vehicle. This is because leasing will allow the company to rent the vehicle for a fixed period and miles and the leasing company will be responsible for the maintenance of the vehicle. At the end of the lease, the company will return the vehicle, and the leasing company will bear the risk of the vehicle's resale value.Explain the implications for the cash flow of the company from the different options.
The implications for the cash flow of the company from the different options are listed below:
Outright purchase: The outright purchase of the van will result in the van being shown as an asset in the balance sheet. However, this will have an impact on the cash flow of the company as the company will need to pay for the van upfront.
Lease: Leasing will allow the organization to rent the vehicle for a fixed period and miles and the leasing company will be responsible for the maintenance of the vehicle. At the end of the lease, the company will return the vehicle, and the leasing company will bear the risk of the vehicle's resale value. Therefore, leasing will have a lesser impact on the cash flow of the company.
Contract hire: Contract hire allows the company to rent the vehicle for a fixed term and miles, and it is easy to budget for. The monthly payments are fixed, so the company can plan for the monthly outgoings.
Hire purchase: Hire purchase is a method of buying a vehicle over a longer period, with interest. The company will need to pay a deposit and monthly payments. It will have a significant impact on the cash flow of the company.
Short-term hire: Short-term hire allows the company to rent the vehicle for a short period. This option is beneficial when the company needs a vehicle for a short period, and there is no long-term commitment. This option will have the least impact on the cash flow of the company.
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written predictions that specify relations between variables. theories are used to inspire hyptheses
Theories are frameworks that specify and define the relationships between variables. These frameworks serve as foundations for generating testable hypotheses.
A theory can be considered a formal system of explanation for a set of phenomena or events that are interrelated and function as a unit. Theories are useful in predicting the outcome of future events by relying on past observations. In many instances, theories provide an explanation for an observable phenomenon. They guide the scientific method, which is a process of examining and testing these predictions or hypotheses through experimentation.
In science, theories are considered to be the highest form of scientific explanation since they allow for the prediction of outcomes and they are supported by a significant body of evidence. Predictions made using theories can be tested and confirmed through experimentation or observation, thus enhancing our understanding of the phenomena they describe. As new evidence emerges, theories can be modified or even replaced by new theories, leading to the continuous advancement of scientific knowledge.
In conclusion, theories are an important aspect of scientific inquiry as they provide a foundation for hypothesis generation and allow for the prediction and explanation of phenomena.
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Apply Total Quality Management principles in your organisation
or any company familiar to you. Explain what can be done to improve
the quality of products and services of this company
(10 Marks)
To improve the quality of products and services in an organization, several steps can be taken based on Total Quality Management (TQM) principles.
These include implementing a customer-centric approach, fostering a culture of continuous improvement, conducting regular employee training, utilizing quality control tools, and establishing effective communication channels throughout the organization. By following these practices, the company can enhance its product and service quality, meet customer expectations, minimize defects and errors, increase efficiency, and ultimately achieve higher levels of customer satisfaction and loyalty.
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4. Make a list of two things you did yesterday. What was the opportunity cost of each? Explain in details. 5. Suppose your grandmother gave you $300 for your birthday. You have a choice between spending the money now or putting it away for a year in a bank saving account that pays 4 percent interest (profit). What is the opportunity cost of spending the $300 now? Explain.
4. The opportunity cost is the value of the next best alternative that is forgone when making a choice. Let's consider two things you did yesterday and their opportunity costs:
a) Let's say you decided to watch a movie with your friends. The opportunity cost of watching the movie is the time and money you could have spent studying for an upcoming test. By choosing to watch the movie, you are giving up the opportunity to improve your knowledge and potentially get a better grade on the test.
b) Now let's suppose you went to a restaurant for dinner. The opportunity cost of dining out is the money you could have saved by cooking at home. By choosing to eat at the restaurant, you are giving up the opportunity to save that money or spend it on something else.
In both cases, the opportunity cost is the value of the alternative option that you didn't choose. It's important to consider the opportunity cost when making decisions, as it helps you evaluate the trade-offs involved and make choices that align with your priorities and goals.
5. If your grandmother gave you $300 for your birthday, you have a choice between spending the money now or putting it away in a bank savings account that pays 4 percent interest. The opportunity cost of spending the $300 now is the potential interest you could have earned by saving it in the bank.
a) If you decide to spend the $300 now, you can buy something you want immediately. However, by doing so, you are giving up the opportunity to earn interest on that money over time.
b) On the other hand, if you choose to put the $300 in a bank savings account that pays 4 percent interest, you are sacrificing the immediate gratification of spending the money. However, by saving it, you have the potential to earn interest on the money over the course of a year.
The opportunity cost of spending the $300 now is the potential interest you could have earned if you had chosen to save it instead. It's important to consider the trade-offs and potential benefits of different choices, especially when it comes to financial decisions.
Remember, opportunity cost is the value of the next best alternative forgone, and it helps us understand the potential benefits and drawbacks of our choices.
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There is a one-year coupon bond($1,000 face value) which pays interest quarterly. The coupon rate is 6% and YTM is 8%.
A. What is Modified duration?
The modified duration of the one-year coupon bond with a face value of $1,000, quarterly interest payments, a coupon rate of 6%, and a yield to maturity (YTM) of 8% is approximately 0.966.
Modified duration is a measure of the bond's price sensitivity to changes in yield. It helps estimate the percentage change in the bond's price for a given change in yield. To calculate the modified duration, we use the formula:
Modified Duration = Macaulay Duration / (1 + YTM/n)
First, we calculate the Macaulay duration, which is the weighted average time until cash flows are received. For a one-year bond with quarterly payments, the Macaulay duration is approximately 0.965.
Next, we divide the Macaulay duration by 1 plus the yield to maturity divided by the number of periods per year (quarterly in this case). Plugging in the values, we find:
Modified Duration = 0.965 / (1 + 8%/4)
Simplifying the equation, we get:
Modified Duration ≈ 0.966
Therefore, the modified duration of the one-year coupon bond is approximately 0.966. This means that for every 1% change in yield, we can expect the bond's price to change by approximately 0.966%.
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Determine the break-even point in units if fixed costs
are increased by $1600, while manufacturing cost is reduced by
$0.50 per jumpdrive.
The break-even point in units would be 13,867 if fixed costs are increased by $1600, while manufacturing cost is reduced by $0.50 per jump drive.
Break-even point refers to the level of production or sales at which the total revenues are equal to the total expenses. The break-even point can be calculated using the following formula:
Break-even point (in units) = Fixed Costs / (Selling Price per Unit - Variable Costs per Unit)
Where,
Selling Price per Unit = Revenue per unit
Variable Costs per Unit = Cost of goods sold per unit + variable expenses per unit
Now, as per the given information,
Fixed costs have increased by $1600, which means the new fixed costs will be $20,800. Manufacturing cost is reduced by $0.50 per jump drive, which means the new manufacturing cost will be $4.50 per jump drive. It implies that the variable costs per unit will be $4.50.
Let's calculate the new break-even point in units using the above formula:
Break-even point (in units) = $20,800 / ($6 - $4.5)
= $20,800 / $1.5
= 13,867
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Critical illness insurance can ensure that you have access to in the event that you suffer a critical iliness, such as a heart attack stroke, or lifa threutening cancer A. a cure B. Lump-sum benefits C. monthly income D. in-home nursing care
Critical illness insurance provides policyholders with lump-sum benefits in the event of a critical illness, such as a heart attack, stroke, or life-threatening cancer. answer is option B.
Option B, lump-sum benefits, is the correct answer. Critical illness insurance is designed to provide a financial safety net by paying a lump-sum benefit to the policyholder upon diagnosis of a covered critical illness. This lump sum can be used as needed by the policyholder to cover medical expenses, seek specialized treatments, replace lost income, or make necessary lifestyle adjustments during the recovery period. Unlike other types of insurance, such as health insurance, critical illness insurance focuses on providing a one-time payment rather than covering ongoing medical expenses or providing regular monthly income.
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.Which of the following statements concerning banks’ off-balance sheet transactions is/are generally TRUE?
Select one:
a.They are a significant part of a bank’s business.
b.They reflect use of risk management products.
c.They represent an important source of banks’ income.
d.Assets and liability are yet to be recorded in the balance sheet.
e.All of the other given choices.
The correct answer is e) All of the other given choices. All of the statements concerning banks' off-balance sheet transactions are generally true. Here's an explanation of each statement:
a) They are a significant part of a bank's business:
Off-balance sheet transactions, such as derivatives, guarantees, or letters of credit, are an integral part of a bank's business activities. These transactions allow banks to expand their services, manage risks, and meet the needs of their clients.
b) They reflect the use of risk management products:
Off-balance sheet transactions often involve risk management products, such as hedging instruments or insurance contracts. These products enable banks to manage and mitigate various types of risks, including interest rate risk, foreign exchange risk, or credit risk.
c) They represent an important source of banks' income:
Off-balance sheet activities can generate income for banks through fees, commissions, or gains from successful risk management. For example, banks earn fees for providing guarantees or arranging syndicated loans.
d) Assets and liabilities are yet to be recorded in the balance sheet:
Off-balance sheet transactions involve contingent obligations or commitments that are not recorded as assets or liabilities on the balance sheet. However, they have the potential to impact the bank's financial position and risk profile.
Overall, off-balance sheet transactions are an essential component of banks' operations, reflecting the use of risk management products, contributing to income generation, and involving contingent obligations that are not immediately recorded on the balance sheet.
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Estimate the value of a loyal customer of a loyal Volvo automobile owner. Assume the contribution margin is 0.28, the purchase price is $68.000, the repurchase frequencr is every five years, and the customer defection rate is 30 percent. Do nct round intermediate calcudations. Found your answer to the nearest doliar.
The value of a loyal customer of a loyal Volvo automobile owner is $13,909.
Calculating the value of a loyal customer is the loyalty shown by regular customers toward a company.
VLC = P * RF * CM * BLC
Where:-
P is revenue per unit, RF is repurchase frequency, CM is contribution margin, BLC is buyer's life cycle
BLC = 1 / defection rate
Given
P = $68,000
RF = 1 / 6
CM = 0.27
BLC = 1 / 0.22
VLC = $68,000 * (1 / 6) * 0.27 * (1 / 0.22) = $18,360 / 1.32 = $13,909
The value of a loyal customer of a loyal Volvo automobile owner is $13,909.
The sum an investor pays for an investment is referred to as the purchase price, and that amount becomes the investor's cost basis for determining gain or loss when the investment is sold. Any commission or sales fees paid for the investment are included in the purchase price, and the weighted average cost is applied when buying the same asset more than once.
Investors compute realized gains or losses for tax purposes using the purchase price of an investment, and they record that activity on Schedule D of the IRS form 1040. If they sell all or a portion of their investment holdings, an investor must declare a realized gain. The investor has an unrealized gain or loss that is not recognized for tax reasons if they do not sell any securities.
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The Collin Corporation has a year end of December 31, 2020. Due to a hit to the economy during a global pandemic it has been determined that an impairment test needed to be performed.
The relevant data on the CGU for Collin Corp is as follows:
Carrying values:
Land $380,000
Building 1,100,000
Equipment 620,000
Goodwill 370,000
2,470,000
The fair values for the building, equipment and goodwill cannot be estimated. The fair value of the land is $500,000. Fair value of the CGU as a whole is $2,000,000.
Cash flows generated by the CGU for the next 9 years is $265,000 per year.
Costs to sell would amount to 7% of the fair values of the assets. The appropriate discount rate is 8%.
Required:
Calculate the impairment loss (if any) for the CGU. If there is an impairment loss for the CGU, allocate the loss to the assets of the CGU. No journal entries required just perform the calculations/allocations (6 marks).
If the Collin Corporation is a private entity subject to ASPE, calculate the impairment loss if any on the CGU (2 marks).
Collin Corporation's relevant data on the CGU is as follows: Carrying values :Land $380,000Building 1,100,000Equipment 620,000Goodwill 370,0002,470,000The fair value of the land is $500,000. Fair value of the CGU as a whole is $2,000,000.
Cash flows generated by the CGU for the next 9 years is $265,000 per year. Costs to sell would amount to 7% of the fair values of the assets. The appropriate discount rate is 8%.Required:Calculate the impairment loss (if any) for the CGU. If there is an impairment loss for the CGU, allocate the loss to the assets of the CGU.
Calculation of the impairment loss for the CGU:Firstly, we will calculate the recoverable amount of CGU. The recoverable amount of CGU is determined as the higher of the fair value of CGU less cost to sell and the value in use of the CGU.
The recoverable amount of the CGU is calculated as follows: Recoverable amount of the CGU = Max(Fair value less cost to sell, value in use) = Max([tex]$2,000,000-$172,900, $2,079,104) = $2,079,104[/tex]As the carrying amount of the CGU is higher than the recoverable amount of the CGU, an impairment loss has occurred.
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