The most appropriate remedy for the parties if a contract for a sale of land from Evergreen Properties, Inc., to Longlife Investment Corporation contains an erroneous legal description is to correct the legal description.
A legal description is a method of identifying a property for sale that is precise enough to exclude any ambiguity. The description of the property in the sale agreement must be precise and correct. Any incorrect or ambiguous information can lead to legal disputes between the parties.
A remedy is a legal solution for the wrong that has occurred. If a contract for the sale of land contains an erroneous legal description, the most appropriate remedy is to correct the description. Correcting the description is a legal solution, which will ensure that there is no ambiguity about the land's location or any other aspect of it.
In conclusion, the best solution to an erroneous legal description in a contract of sale of land between two investment corporations is to correct the error in the legal description.
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2b). Explain why and how bond prices and Interest rates have a
negative connection. (2.5 marks)
Bond prices and interest rates have an inverse relationship because of the way bonds work.
When an investor purchases a bond, they are essentially lending money to the bond issuer for a specific period of time. The bond issuer promises to pay back the principal (original investment) when the bond matures and also to pay interest (coupon payments) periodically until maturity.
When interest rates rise, newly issued bonds start to offer higher coupon payments to attract buyers, making the previously issued bonds less attractive. This leads to a decrease in demand for existing bonds, causing their prices to fall.
On the other hand, when interest rates fall, newly issued bonds offer lower coupon payments, making existing bonds with higher coupons more attractive. This causes an increase in demand for existing bonds, pushing up their prices.
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If hannah’s credit card company calculates finance charges using the daily balance method, what will her april finance charge be? a. $2.71 b. $3.20 c. $3.30 d. $3.61
The correct option for this question is c. $3.30.
What daily balance method calculates?
The daily balance method calculates finance charges by multiplying the daily interest rate by the average daily balance for the billing period. The daily interest rate is typically the annual interest rate divided by 365 or 360 days, depending on the bank's policy.
The average daily balance is the sum of the balances for each day of the billing period, divided by the number of days in the billing period.
Therefore, we need to know Hannah's credit card balance and interest rate for the month of April in order to calculate her finance charge using the daily balance method. Without this information, we cannot determine the answer to the question.
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election express had cost of goods sold totaling $892,000 during 2021. the company started the year with $112,000 in inventory and finished the year with $194,000 in inventory. what is the inventory turnover ratio for election express?
Inventory turnover ratio for election express inventory turnover ratio is a metric that calculates how quickly a business's inventory is sold and replaced over a set period.
The formula for inventory turnover ratio is calculated by dividing the cost of goods sold by the average inventory for the year. Election Express had the cost of goods sold amounting to $892,000 in 2021. The company began the year with $112,000 in inventory and ended the year with $194,000 in inventory.
So, we can now calculate the average inventory for the year using the formula:
Average inventory = (Beginning inventory + Ending inventory) / 2Average inventory = ($112,000 + $194,000) / 2.
Average inventory = $153,000. Then the inventory turnover ratio can be calculated using the formula:
Inventory turnover ratio = Cost of goods sold / Average inventory;
Inventory turnover ratio = $892,000 / $153,000.
Inventory turnover ratio = 5.84.
Thus, the inventory turnover ratio for Election Express is 5.84.
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What do marketing professionals
call the feedback from customers that helps to improve their marketing tactics?
A. Likert scale
B. Survey
C. Data
Answer:
The feedback from customers that helps to improve marketing tactics is typically called "customer feedback" or "voice of customer (VOC) feedback." This feedback can be obtained through a variety of methods, such as surveys, focus groups, social media monitoring, and customer reviews. Once collected, this data can be analyzed to identify areas for improvement in marketing tactics and to develop more effective marketing strategies. While Likert scales and surveys are commonly used methods for gathering customer feedback, they are just tools for collecting data and not specific terms used to refer to customer feedback in the context of marketing.
Compute the NPV statistic for Project U given the following cash flows if the appropriate cost of capital is 9 percent. Project U Time 0 1 2 3 4 5 Cash Flow: −$ 1,000 $ 350 $ 1,480 −$ 520 $ 400 −$ 100
Multiple Choice:
A) $273.82
B) $383.63
C) $397.21
D $201.69
The NPV for Project U given the following cash flows if the appropriate cost of capital is 9% will be $383.63. The Option B is correct.
How do we calculate the NPV for Project U?To compute the NPV (Net Present Value) statistic for Project U, we need to discount each cash flow back to its present value and then sum them up. Using a discount rate of 9 percent, we have:
The NPV for Project U for the cash flows is computed as follows:
= -1000 + (350 / (1 + 0.09)^1) + (1480 / (1 + 0.09)^2) + (-520 / (1 + 0.09)^3) + (400 / (1 + 0.09)^4) + (-100 / (1 + 0.09)^5)
= -1000 + 320.18 + 1220.87 - 350.41 + 243.92 - 46.03
= $388.53
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What is the Story, Problem, Cause, and Recommendations of the
case study titled "Marketing and the Opioid Crisis in
America" - for chapters 6 and 17 in the textbook
"Introduction to Health Care Management, 4th edition."
**PLEASE KEEP ANSWERS SHORT AND SIMPLE**
This case study explores the role of marketing in the opioid crisis in America, where pharmaceutical companies aggressively marketed opioid painkillers to physicians and patients, leading to a widespread addiction epidemic.
The problem is that the marketing of opioid painkillers contributed to the overuse and abuse of these drugs, leading to addiction, overdose, and death among patients.
The cause of this problem was the aggressive marketing tactics used by pharmaceutical companies, which included downplaying the risks of addiction and exaggerating the benefits of opioid painkillers.
Recommendations include increased regulation of pharmaceutical marketing practices, increased education for physicians and patients about the risks of opioid use, and the development of alternative pain management strategies.
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Read the article "Six Ways to Create a Culture of Ethics in Any Organization." Explain how each strategy (clear expectations for what is okay and not okay, modeling desired behavior, Reinforce the Behavior You Want, and Don’t Reinforce the Behavior That You Don’t Want, Focus on Skill Building and Problem Solving, Provide the Tools People Need to Act Ethically, Provide Corrective Feedback) can enhance an organizational culture.
The article "Six Ways to Create a Culture of Ethics in Any Organization" provides strategies to enhance an organization's ethical culture:
Clear expectations for what is okay and not okayModeling desired behaviorReinforce the Behavior You WantDon’t Reinforce the Behavior That You Don’t WantFocus on Skill Building and Problem SolvingProvide the Tools People Need to Act EthicallyProvide Corrective FeedbackHere's how each strategy can enhance an organizational culture:
Clear expectations for what is okay and not okay: When an organization clearly communicates its expectations for ethical behavior, employees are more likely to adhere to these expectations.Modeling desired behavior: Leaders in an organization must model ethical behavior for employees to emulate.Reinforce the Behavior You Want: Positive reinforcement, such as praise and recognition, can be used to reinforce desired ethical behavior.Don’t Reinforce the Behavior That You Don’t Want: Negative reinforcement, such as disciplinary action, can be used to discourage unethical behavior.Focus on Skill Building and Problem Solving: Ethical decision-making is a skill that can be developed through training and education.Provide the Tools People Need to Act Ethically: An organization can provide employees with the resources needed to make ethical decisions, such as an anonymous reporting system or an ethical hotline.Provide Corrective Feedback: When employees behave unethically, it is important to provide corrective feedback that helps them understand why their behavior was unacceptable and what they need to do differently in the future.Learn more about Culture of Ethics:
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Five years from today, you plan to invest $5,050 for 7 additional
years at 7.9 percent compounded annually. How much will you have in
your account 12 years from today?
the investment will grow to $11,567.56 in 12 years.
Why it is and what is compound interest?
To solve this problem, we can use the compound interest formula:
A = P(1 + r/n)²(nt)
Where:
A = the future value of the investment
P = the initial investment amount
r = the annual interest rate (as a decimal)
n = the number of times the interest is compounded per year
t = the number of years
In this case, we have:
P = $5,050
r = 7.9% = 0.079
n = 1 (compounded annually)
t = 12 (5 years + 7 years)
So, we can plug in these values and solve for A:
A = $5,050(1 + 0.079/1)²1×12)
A = $5,050(1.079)²12
A = $5,050(2.2831)
A = $11,567.56
Therefore, the investment will grow to $11,567.56 in 12 years.
Compound interest is the interest calculated on the initial principal as well as on the accumulated interest from previous periods. In other words, it is the interest earned on both the principal amount and any interest that has been previously earned. This results in a larger amount of interest being earned over time than with simple interest, where interest is only calculated on the initial principal.
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Change Management Question: Write three (3) FINDINGS on Kodak change of management ?
Kodak, a former leader in the photographic industry, has undergone a significant change in management in recent years. Based on my knowledge cutoff of 2021, here are three findings related to Kodak's change of management: Change in leadership style, Focus on digital transformation and Challenges with implementation.
Change in leadership style: One finding related to Kodak's change of management is that the company has shifted from a traditional, hierarchical leadership style to a more collaborative and innovative one. This shift has been reflected in the company's emphasis on empowering employees and encouraging innovation, as well as in its adoption of new technologies to drive growth.Focus on digital transformation: Another finding related to Kodak's change of management is that the company has placed a greater emphasis on digital transformation in recent years. This has included a greater focus on digital printing and imaging technologies, as well as a shift toward a more digitally-driven business model. These changes have helped Kodak stay relevant in an industry that has been disrupted by the rise of digital photography.Challenges with implementation: While Kodak's change of management has been successful in many ways, there have also been some challenges with implementation. For example, the company has struggled to adapt its culture to the new leadership style and has faced resistance from some employees. Additionally, the company has faced financial difficulties in recent years, which have limited its ability to invest in new technologies and pursue growth opportunities.Learn more about photographic industry at: https://brainly.com/question/10151032
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during 2022, hughes corporation sold a portfolio of stock it had held for five years at a loss of $200,000. it also sold some investment land and recognized a capital gain of $180,000. in 2020, hughes reported a net capital gain of $12,000 and in 2021 it recognized a net capital gain of $6,000. what is the amount of its net capital loss carryover to 2023?
The net capital loss carryover to 2023 is $20,000 - $8,000 - $2,000 = $10,000
Hughes Corporation has a net capital loss carryover of $206,000 to 2023. During 2022, Hughes Corporation reported a loss of $200,000 on the sale of a portfolio of stock it had held for five years.
In addition, it recognized a capital gain of $180,000 from the sale of some investment land. Therefore, the net capital loss is $200,000 - $180,000 = $20,000. As a result, the company has a capital loss carryover of $20,000 to 2023.
Hughes Corporation reported a net capital gain of $12,000 in 2020 and $6,000 in 2021. The net capital loss for each of the preceding years is as follows:
2020: $12,000 - $20,000 = ($8,000) (net capital loss carryover from 2020)
2021: $6,000 - $8,000 = ($2,000) (net capital loss carryover from 2021)
Therefore, the net capital loss carryover to 2023 is $20,000 - $8,000 - $2,000 = $10,000.
Answer: $10,000
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after a recent study showed significant benefits to the use of public transportation, government officials have hired your consulting firm to increase the use of public transportation. in the initial meeting between the government officials and your consulting firm, some ideas for increasing demand were discussed. three of those suggestions are listed below. suggestion 1 reduce the price of public transportation suggestion 2 increase the price of private transportation by increasing tolls suggestion 3 offer monthly and yearly passes that reduce the price paid per ride based on your knowledge of the law of demand, which suggestions would you recommend? group of answer choices 1 2 3 1 and 3
The law of demand states that when the price of a good or service decreases, the demand for that good or service increases. Therefore, I would recommend suggestion 1 and 3 as the best ways to increase the use of public transportation.
By reducing the price of public transportation, more people will find it more economical to use public transportation, which will result in more people using it. Additionally, by offering monthly and yearly passes that reduce the price per ride, more people will be encouraged to use public transportation due to the discounted fare.
This will also lead to an increase in demand for public transportation. Both of these suggestions are in line with the law of demand, and I believe they will help to increase the use of public transportation.
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What is the significance of Sarbanes-Oxley (SOX) and the
Dodd-Frank Act to business operations in the United States?
The significance of the Sarbanes-Oxley (SOX) and the Dodd-Frank Act to business operations in the United States is to protect employees and shareholders from financial fraud.
Sarbanes-Oxley (SOX) Act was introduced after corporate accounting scandals shook investors' trust in US-listed companies. The Sarbanes-Oxley (SOX) Act, implemented in 2002, aimed to improve corporate governance and increase financial disclosures for companies. The primary aim of this law was to safeguard investors by ensuring that they receive accurate and reliable financial information from public companies. Key aspects of the law include the establishment of the Public Company Accounting Oversight Board (PCAOB), which aims to oversee and regulate auditors of public companies, and the implementation of stringent internal control requirements for public companies.
Dodd-Frank, passed in 2010, is one of the most comprehensive financial reform packages in US history. It was created to address the issues that caused the 2008 financial crisis. Dodd-Frank introduced significant regulatory changes to the US financial system. These include the creation of the Consumer Financial Protection Bureau (CFPB) and the Financial Stability Oversight Council (FSOC) to oversee and regulate financial institutions. The legislation also implemented changes to executive compensation, increased transparency for derivative trades, and provided whistleblowers with greater protection and incentives.
Dodd-Frank's impact on US businesses has been significant. Some business operations have been significantly affected by the Act, particularly the ones in the banking and finance sectors. However, the Act has also created opportunities for companies to enhance their risk management practices and provided them with the impetus to improve their regulatory compliance processes.
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What is true of the systems model of training?
a) The systems model of training is also known as ADDIE.
b) The feedback arrow shows that training should be ongoing.
c) The training ends after the eval
The correct statement about the systems model of training is (a) The systems model of training is also known as ADDIE.
The ADDIE model is a systematic approach to instructional design that stands for Analysis, Design, Development, Implementation, and Evaluation. This model breaks down the training process into five phases, which allows trainers to develop effective and efficient training programs.
The feedback arrow in the ADDIE model represents that the evaluation of the training program should inform future modifications and improvements, indicating that training should be ongoing. The training process does not necessarily end after evaluation, as continuous improvement is an essential aspect of the systems model of training.
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true or false: an internal control goal for cash receipts is to ensure that the business documents the correct amount of cash received and safely deposits the cash into its bank account. true false question. true false
True. An internal control goal for cash receipts is to ensure that the business documents the correct amount of cash received and safely deposits the cash into its bank account. Internal control over cash receipts is a system of rules, procedures, and measures designed to safeguard cash receipts and ensure their accuracy and completeness.
What are internal controls?Internal control is a process established by an entity's management, which is intended to provide fair assurance that the entity's objectives are achieved.
Internal control systems provide a level of assurance that the organization's management and employees will comply with the organization's policies and procedures, operational effectiveness, reliability of financial reporting, and compliance with relevant regulations and legislation.
Internal controls include activities such as risk assessment, control activities, information and communication, and monitoring. Each of these components is critical to ensuring that an organization's objectives are met, and that its operations are effective, efficient, and sustainable.
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how is return on invested capital organizaed in a balance sheet, income statement and statement of cash flows
Return on invested capital (ROIC) is a financial ratio that measures the profitability of a company in relation to its total capital invested in the business. It is calculated by dividing a company's net operating profit after taxes (NOPAT) by its total invested capital.
On a balance sheet, ROIC is represented by the asset value of the company, which includes the total capital invested in the business. On an income statement, ROIC is represented by net income, which is the total amount of income earned minus the total amount of expenses incurred. On a statement of cash flows, ROIC is represented by the net cash flow from operating activities, which is the difference between the cash inflows and cash outflows from operating activities.
Overall, ROIC is a useful metric to measure a company's profitability in relation to its total capital invested. By comparing the ROIC of different companies, investors can identify companies that are generating the highest returns on their investments.
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An example of an adjusting journal entry for deferrals is
Group of answer choices
recording revenue earned from cash received in advance
recording inventory shrinkage at the end of the period
Accruing salaries payable
Accruing revenue not yet billed
An example of an adjusting journal entry for deferrals is: A) "Recording revenue earned from cash received in advance".
This adjustment is needed when a company receives cash in advance for goods or services that it has not yet provided. The initial entry records the cash received as a liability (unearned revenue) on the balance sheet, and the adjustment at the end of the period recognizes the revenue earned during that period by reducing the liability and increasing the revenue account. The adjusting journal entry would be:
Debit: Unearned Revenue
Credit: Revenue
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Why would an investor consider investing in a junk bond?
a. You are guaranteed to get your money back on a junk bond
b. Junk bonds offer higher potential return than other investments
c. Junk bonds are seen as relatively safe investments
d. All of these answers are correct
The investor would consider investing in a junk bond because all of these answers are correct. So, the answer is D.
Junk bonds offer higher potential returns than other investments, they are seen as relatively safe investments, and you are usually guaranteed to get your money back on a junk bond.
A junk bond is a form of high-risk debt security that carries a lower credit rating than investment-grade bonds, debentures, or notes. A junk bond is a type of bond that has a higher risk of default than investment-grade bonds, so investors expect a higher rate of return. Junk bonds are offered by corporations and governments that are deemed to have a higher risk of defaulting on their debt obligations. As a result, junk bonds pay higher interest rates than other types of debt, such as government-issued securities or investment-grade corporate bonds. If a bond receives a rating below BBB from Standard & Poor's or below Baa3 from Moody's, it is classified as a junk bond.
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In bankruptcy, what is the difference between chapter 7 versus
chapter 11? Are these available to individuals and businesses
alike?
Chapter 7 and Chapter 11 are two different types of bankruptcy filings in the United States. They have different purposes, eligibility requirements, and procedures.
Chapter 7 bankruptcy is also known as "liquidation" bankruptcy. It is designed to help individuals and businesses that are unable to pay their debts and need a fresh start. In a Chapter 7 bankruptcy, a court-appointed trustee sells the debtor's non-exempt assets to pay off as much of their outstanding debts as possible. After that, the remaining eligible debts are discharged, meaning the debtor is no longer legally obligated to pay them.
Chapter 11 bankruptcy, on the other hand, is primarily intended for businesses that need to reorganize their debts in order to continue operating. However, individuals can also file for Chapter 11 bankruptcy if they don't qualify for Chapter 7 or Chapter 13 bankruptcy. In a Chapter 11 bankruptcy, the debtor proposes a plan to restructure their debts and operations to the court and creditors. If the plan is approved, the debtor will be allowed to continue operating while paying off their debts according to the agreed-upon schedule.
In summary, Chapter 7 bankruptcy is primarily for individuals who need to wipe out their debts and start fresh, while Chapter 11 is primarily for businesses that need to reorganize their finances to continue operating. Both types of bankruptcy are available to individuals and businesses, although the eligibility requirements and procedures can differ depending on the circumstances of each case.
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Discuss what is meant by procurement of consultancy and give a
recent example of such a procurement by the new down government
a) Quality and cost based selection (QCBS)
b) Quality based selection method (QBS)
a) Quality and cost based selection (QCBS) this procurement method involves selecting a consultant based on both their technical qualifications and their financial proposal.
b) Quality based selection method (QBS) this procurement method involves selecting a consultant based on their expertise, experience, and qualifications.
A recent example of such a procurement by the New Down government is the hiring of consulting services to support the development of its economic and tourism strategy. In this procurement process, the government used the quality-based selection method (QBS) to assess and select consultants that best meet its needs and requirements. This method emphasizes the experience, qualifications, and expertise of the consultants rather than their price.
The selection is not based on the cost, but rather on the quality of the consultant's proposal, which is usually evaluated based on predefined criteria. This method is commonly used when the project requires a high level of expertise and specialized skills. Quality and cost-based selection (QCBS) is based on a combination of factors, including the consultant's experience, qualifications, expertise, and price. This method is commonly used when both quality and cost are important factors.
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Create a list for market categories using data validation and populate the market data for the all the property types based on the category selected.
Market Categoris office retail other parking(indoor) parking (outdoor)
Renewal probability 50% 50% 50% 50% 50%
Downtime (months) 6 6 6 6 6
LC (% of 1st Year Rent) 15.00% 15.00% 15.00% 15.00% 15.00%
Market Rent/m2 1,500 2,200 2,000 4,500 2,000
Free Rent (Months) 6 6 6 6 6
Term (years) 10 10 10 10 10
TI/m2 2,000 2,000 0 0 0
The market categories listed above are the different types of property that can be leased or rented. The renewal probability is the likelihood that the property will be renewed at the end of the lease term.
What is leased?Leasing is an agreement between two parties in which one party, the lessor, grants the use of an asset to the other party, the lessee, for a specified period of time. The lessee typically pays a periodic fee in exchange for the right to use the asset. At the end of the lease term, the lessee may have the option to purchase the asset, renew the lease, or return the asset to the lessor.
The downtime is the amount of time needed to prepare the property for a new tenant. The LC (Letter of Credit) is the percentage of the first year's rent that is required to secure the lease. The market rent/m2 is the rate that the landlord charges for the property per square meter. The free rent is the amount of time that the tenant does not need to pay rent for. The term is the length of the lease agreement in years. TI/m2 is the amount of money that the tenant has to pay for tenant improvements to the property per square meter.
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Unlawful tax filing
Some people illegally reduce the amount of tax they must pay. This is called tax evasion. It is not always easy to tell when taxpayers’ actions are illegal. Some other methods that are used include bad recordkeeping and intentional tax evasion methods, such as a lack of documentation and underdeclaring income.
Read the following case study and answer the questions that follow:
Case study:
Tate Iiyambo is a plumber who operates a cash business. He generally works on word of mouth and obtains business through existing clients. He has a delivery van, which he uses to store all his equipment and fittings that may be required in performing his plumbing jobs. He has a manual invoicing process where he completes all necessary information regarding the job as and when the job is completed on pre-printed paper invoices. Each invoice contains all his business details and Tate Iiyambo personally fills in the customer and job cost details. In any given year of assessment, Tate Iiyambo earns between N$1,000,000 and N$1,500,000 annually in revenue.
a. What opportunities do you think exist for Tate Iiyambo to evade paying tax to Receiver of Revenue or to minimise his tax liability?
b. If Tate Iiyambo’s plumbing business was to be a registered company called Drips and Plugs (Pty) Ltd, what possible errors do you think could occur when he completes his personal income tax return vs Drips and Plugs (Pty) Ltd’s income tax return? Think about common errors that could occur or alternative ways in which Tate Iiyambo could evade tax or reduce his tax liability.
c. Assume that you are aware of Tate Iiyambo’s tax evading mechanisms and have proof that he is under declaring his taxable income. What do you think you should do? Do you think you have a responsibility to notify Receiver of Revenue? Why or why not?
a. Tate Iiyambo may be able to evade or reduce his tax liability through bad recordkeeping, a lack of documentation, or under-declaring his income. Additionally, he could attempt to hide his income through off-the-books payments or misreport income on tax returns.
b. If Tate Iiyambo's plumbing business was to be registered as Drips and Plugs (Pty) Ltd, he would need to file a corporate tax return instead of a personal income tax return. Common errors made when completing a corporate tax return include inaccurate filing of expenses and omitting certain business income. Additionally, if Tate Iiyambo is a sole proprietor, he may be able to attempt to avoid paying taxes by funneling income through the corporate entity to minimize his personal taxable income.
c. If you are aware of Tate Iiyambo's tax evasion mechanisms and have proof that he is under-declaring his taxable income, then you have a responsibility to notify the Receiver of Revenue. Tax evasion is illegal and, if proven, can result in penalties, fines, and even jail time. Therefore, it is important to take steps to ensure that taxes are paid accurately and on time.
Tate Iiyambo may be able to underreport his income, keep bad records, lack paperwork, make off-the-books payments, and avoid paying taxes altogether.
What is illegal taxation?A person or organisation that willfully fails to pay their true tax responsibilities is engaging in tax evasion, an unlawful practise.Tax evaders frequently have to deal with harsh fines and legal action. The Internal Revenue Service (IRS) tax code defines a federal offence as a willful failure to pay taxes.
Describe tax evasion with an example.One extremely typical way to avoid paying taxes is to try to hide income from the Income Tax Department. For instance, if a person withholds their full income from their ITR.
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Type your answer in the box. Estimated manufacturing overhead $450,000 Estimated direct labor hours 150,000 Actual manufacturing overhead $405,000 Actual direct labor hours 180,000 Based on this information, the predetermined overhead rate per direct labor hour is $ (Enter your answer as a whole number.)
The predetermined overhead rate per direct labor hour is $3.
The sum of money that a business must pay a worker to labour for them for a day:
As per the data given in the above question are as bellow,
Estimated manufacturing overhead $450,000
Estimated direct labor hours 150,000
Calculation of the fixed overhead rate per hour of direct labour:
Predetermined overhead rate per direct labour hour equals estimated manufacturing overhead / estimated number of hours of direct labour (450000/150000 = $3).
Therefore, Predetermined overhead rate per hour of direct labour is $3.
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Write indtroducation of Strategic Project Management inculdued
sources and reffrence
Strategic Project Management is a process that involves managing business projects with a strategic approach to align them with the organization's goals and objectives.
It is a comprehensive method that focuses on managing projects effectively and efficiently, using tools and techniques such as SWOT analysis, project charters, and risk management.
The Project Management Institute (PMI) is a global organization that offers various resources and tools for project management professionals. It provides certification programs, training, and publications related to strategic project management. PMI's Project Management Body of Knowledge (PMBOK) is a widely recognized guide for project management professionals.
Harvard Business Review (HBR) is a leading publisher of business-related content. It publishes articles, books, and case studies related to strategic project management. HBR also provides training programs and events related to project management.
Gartner is a research and advisory company that provides insights and analysis related to various business topics, including project management. It offers research reports, webinars, and events related to project management.
The Association for Project Management (APM) is a professional association for project management in the UK. It provides resources and tools for project management professionals, including training, certification, and publications. APM's Body of Knowledge (BoK) is a comprehensive guide for project management professionals.
ProjectManagement.com is an online community for project management professionals. It offers resources and tools related to project management, such as articles, webinars, templates, and training courses. It also provides a platform for project management professionals to connect and share their knowledge and experience.
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The strategic management of suppliers in procurement
The strategic management of suppliers in procurement involves building and maintaining relationships with suppliers to ensure the organization has access to the right products and services at the right price and quality.
It requires a comprehensive understanding of the organization's needs, as well as the supplier's capabilities, to create a win-win situation. Effective supplier management includes supplier selection, negotiation of contracts and pricing, continuous performance monitoring, and collaborative problem solving. An effective supplier management strategy can improve procurement efficiency, reduce costs, increase innovation, and enhance supply chain resilience. It can also help organizations build long-term relationships with suppliers, which can create a competitive advantage and improve overall business performance. Strategic management involves the formulation and implementation of plans and initiatives to achieve an organization's goals and objectives while considering internal and external factors.
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PERT Calculation Find the probability that the project will complete (a) By the end of day 19
Z=(TS−TE)/σ=(19−17.5)/2.326=0.6448
From Appendix J (2)
=73.89%
(b) By the end of day 16
Z=(TS−TE)/σ=(16−17.5)/2.326=−0.6448
From Appendix
J(1)=26.11%
(The Cumulative Normal Distribution Function)
The probability of completing the project by the end of day 16 is 1.39%. And the probability of project completion is 91.92% by the end of day 19 and 1.39% by the end of day 16.
To calculate the probability of project completion with PERT, the following steps should be followed:
Step 1: Calculate TE (Expected Time): Expected Time (TE) = (Optimistic Time + (4 x Most Likely Time) + Pessimistic Time) / 6
Step 2: Calculate Variance: Variance = ((Pessimistic Time - Optimistic Time) / 6)²
Step 3: Calculate Standard Deviation (σ): Standard Deviation (σ) = Square root of Variance
Step 4: Calculate PERT estimate: PERT Estimate = (Optimistic Time + (4 x Most Likely Time) + Pessimistic Time) / 6(a) Find the probability that the project will complete by the end of day 19:Expected Time, TE = (15+18+20)/3 = 17.67Variance = (20-15/6)² = 0.69Standard Deviation, σ = √0.69 = 0.83PERT estimate = (15+18+(4x20)+15)/6 = 17.83Z = (19-17.83)/0.83 = 1.41 From the standard normal distribution table, the probability is 0.9192 or 91.92%.
Thus, the probability of completing the project by the end of day 19 is 91.92%.
(b) Find the probability that the project will complete by the end of day 16 Expected Time, TE = (15+18+20)/3 = 17.67 Variance = (20-15/6)² = 0.69Standard Deviation, σ = √0.69 = 0.83 PERT estimate = (15+18+(4x20)+15)/6 = 17.83Z = (16-17.83)/0.83 = -2.20From the standard normal distribution table, the probability is 0.0139 or 1.39%.
Therefore, the probability of project completion is 91.92% by the end of day 19 and 1.39% by the end of day 16.
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A tender advert appeared in the print media on 12th March 2020 to run for four (4) weeks. A week from the date of issue, it was discovered that the conditions of contract were not included in the bidding document. So far, a good number of prospective bidders had already accessed the document. The tender was due to close on 9th April 2020 and no extension were allowed because the procurement under discussion was very urgent. REQUIRED: Explain the steps you would take as a procurement expert to normalize this situation?
As a procurement expert in this situation, the steps I would take to normalize it would be as follows:
1. Send a notification to all the prospective bidders informing them of the issue with the bidding document and apologizing for the mistake.
2. Request that all prospective bidders submit their bids again, as the initial bids may not be valid due to the missing information.
3. Extend the bidding period by a reasonable amount of time, giving prospective bidders the opportunity to access the correct version of the bidding document and submit their bids accordingly.
4. Re-advertise the tender, making sure to include all the correct information and conditions of contract.
5. Set a new deadline for the submission of bids, giving sufficient time for prospective bidders to submit their bids.
6. Monitor the process to ensure that all bidders follow the correct procedure.
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Identify each economic characteristic listed as either inflation or recession.
1. businesses expand
2. borrowing is easy
3. production cutbacks
4. consumers spend more
5. unemployment increases
There are numerous indicators of a recession or inflation inthe society.
Which of these are examples?Business expand is example of inflation. Borrowing is simple is an example of a recession. Reductions in production are an example of a recession. Inflationary consumer spending increases . Unemployment rises as the recession deepens.
A recession is defined as a significant drop in economic activity that spreads across the economy and is typically visible in production, employment, and other indicators.
Inflation is defined as an increase in a country's overall price level of goods and services. Because when general price level rises, each currency note purchases fewer products and services; thus, inflation coincides to a loss in the purchasing power of money.
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An assembly line has 5 workstations: A, B, C, D and E which are arranged as a flowline. Each workstation performs one task. The processing time of each task (task 1, 2, 3,4, and 5) performed in the respective workstation (A, B, C, D and E) is
5 min,3 min,6 min
,
4 min,2 min
, respectively. Tasks are performed sequentially as in the order of task 1, 2, 3, 4, and 5, in workstation, A, B, C, D, and E, respectively. 16. The working hours is 8 hours a day, 5 days a week, 50 weeks a year. The output rate is: a. 10 units/minute b. 15 units/hour c. 90 units/day d. 450 units/week e. 20,000 units/year
The output rate is 20,000 units/year. The correct option is e.
An assembly line has 5 workstations: A, B, C, D and E which are arranged as a flowline. Each workstation performs one task. The processing time of each task (task 1, 2, 3,4, and 5) performed in the respective workstation (A, B, C, D and E) is 5 min, 3 min, 6 min, 4 min, 2 min , respectively.
Tasks are performed sequentially as in the order of task 1, 2, 3, 4, and 5, in workstation, A, B, C, D, and E, respectively. 16. The working hours is 8 hours a day, 5 days a week, 50 weeks a year.
To calculate this, we need to figure out how long it takes for one unit to be processed on the assembly line. This can be done by calculating the total processing time for each unit, which is equal to the sum of the time for each task.
The total processing time for one unit is 5 minutes + 3 minutes + 6 minutes + 4 minutes + 2 minutes = 20 minutes.
Since the working hours is 8 hours per day, 5 days a week, 50 weeks a year, the total number of minutes that can be used in the assembly line in a year is 8 hours x 5 days x 50 weeks x 60 minutes = 144,000 minutes.
Therefore, the output rate of the assembly line is 144,000 minutes/20 minutes = 7,200 units/day = 7,200 units/day x 5 days/week = 36,000 units/week = 36,000 units/week x 50 weeks/year = 1,800,000 units/year.
Since there are 1,800,000 units/year and each unit contains 5 tasks, the total output rate is 1,800,000 units x 5 tasks/unit = 9,000,000 tasks/year = 9,000,000 tasks/year ÷ 5 tasks/unit = 20,000 units/year.
Therefore, the output rate of the assembly line is e. 20,000 units/year.
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a fine food chain based in the u.s. reached out to a world-renowned chef and a popular french winery, and suggested that they go into business together in the u.s., france, and belgium. what kind of agreement was the food chain suggesting?
The food chain suggested a joint venture agreement.
Business agreement: A business agreement is a legally binding agreement made between two or more parties. A well-drafted agreement outlines the terms and conditions of a business relationship and provides a clear understanding of each party's rights and responsibilities. The agreement provides the parties with the tools to address any potential disputes that may arise during the course of the relationship.
In the given case, a fine food chain based in the United States reached out to a world-renowned chef and a popular French winery, and suggested that they go into business together in the U.S., France, and Belgium. The food chain's suggestion is to establish a joint venture. A joint venture agreement is a kind of business arrangement in which two or more businesses work together on a particular project or business deal for a short period. The companies pool resources, knowledge, and expertise to achieve a common objective.
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Jeolar's Netballs is a manulacturer of high-qualty besketballs and voleyballs. Setup costs aro driven by the number of setups. Equipmert and maintonance costs increase inth the number of machine-hours, and lease rent is paid per square toot. Cepacity of the facilly is 19,000 square foet, and Jeeler is using only 60 . of this capacity, Jeeler rocords the cost of unised capacty as a soporate line item and not as a product cost. The following is the budooted information for Jeeler. Data table Other budget information follows:
Basketballs Volleyballs
Number of balls 60.000 90.000
Machine-hours 11.000 13.500
Number of setups 450 350
Square footage of production space used 3.270 8.130
Requirements 1. Calculate the budgeted cost per unit of cost driver for each indirect-cost pool. 2. What is the budgeted cost of unused capacity? 3. What is the budgeted total cost and the cost per unit of resources used to produce (a) basketballs and (b) volleyballs? 4. Why might excess capacity be beneficial for Jeeler? What are some of the issues Jeeler should consider before increasing production to use the space?
1. The budgeted cost per unit of cost driver for number of setups, machine-hours, and square footage, for basketballs are $200 per setup, $10 per machine-hour, and $15 per square foot, and for volleyballs are $200 per setup, $10 per machine-hour, and $15 per square foot respectively.
2. The budgeted cost of unused capacity is $285,000.
3. The budgeted total cost and the cost per unit of resources used to produce (a) basketballs is $249,050 and $4.15 per ball, (b) volleyballs is $326,950 and $3.63 per ball respectively.
4. The excess capacity is beneficial for Jeeler.
1. To calculate the budgeted cost per unit of cost driver for each indirect-cost pool, we need to calculate the total cost for each pool and divide it by the total number of units for each cost driver. The cost drivers for indirect-cost pools are number of setups, machine-hours, and square footage.
For the basketballs, the budgeted cost per unit of cost driver is:
Number of setups: 450 setups x $200/setup = $90,000 / 450 setups = $200 per setupMachine-hours: 11,000 machine-hours x $10/machine-hour = $110,000 / 11,000 machine-hours = $10 per machine-hourSquare footage: 3,270 square feet x $15/square foot = $49,050 / 3,270 square feet = $15 per square footFor the volleyballs, the budgeted cost per unit of cost driver is:
Number of setups: 350 setups x $200/setup = $70,000 / 350 setups = $200 per setupMachine-hours: 13,500 machine-hours x $10/machine-hour = $135,000 / 13,500 machine-hours = $10 per machine-hourSquare footage: 8,130 square feet x $15/square foot = $121,950 / 8,130 square feet = $15 per square foot2. The budgeted cost of unused capacity is 19,000 square feet x $15/square foot = $285,000.
3. The budgeted total cost and the cost per unit of resources used to produce (a) basketballs and (b) volleyballs are:
Basketballs: Total cost = $90,000 + $110,000 + $49,050 = $249,050; Cost per unit = $249,050/60,000 balls = $4.15 per ballVolleyballs: Total cost = $70,000 + $135,000 + $121,950 = $326,950; Cost per unit = $326,950/90,000 balls = $3.63 per ball4. Excess capacity can be beneficial for Jeeler because it allows them to take advantage of economies of scale, increase production to meet unexpected demand, and absorb unforeseen costs. However, Jeeler should consider the cost of the unused capacity, any potential unplanned maintenance costs, and the cost of increasing production. Additionally, Jeeler should be aware of the risk of tying up too much capital in unused space.
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