BPE means "base flood elevation." This is the level at which the government estimates the probability of a flood occurring in a given area.
What does BPE mean and how would this affect the home's potential sales price and value?The Base Flood Elevation (BPE) of a property affects its potential sales price and value. When the BPE is lower than the property's ground level, the seller must disclose this in advance of the sale since this may impact the buyer's decision to purchase the property.
In this scenario, the seller's elevation certificate reveals that the house is 2.5 feet above the BPE, implying that it is located in a flood-prone area. This may indicate that the home will be more challenging to sell, particularly if the potential buyers are unfamiliar with the area's flood history or do not have flood insurance.
The home's value may be reduced as a result of its proximity to a flood zone, resulting in a lower sale price. To prevent the loss of property value or the difficulty of selling in the future, the seller can consider purchasing flood insurance and informing potential buyers of the property's flood history and any flood control measures they may have installed.
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Mary purchased a condo in Laval for $800,000 5 years ago. At the time she was given 5-year fixed rate mortgage with an APR of 4%. she is renewing her mortgage today and rates have dropped to 1.2%. What fraction of her 17th payment on the new mortgage will go towards reducing her debt? please answer with clear steps
Mary purchased a condo in Laval for $800,000 5 years ago. At the time she was given 5-year fixed rate mortgage with an APR of 4%. she is renewing her mortgage today and rates have dropped to 1.2%. Mary will pay $5,744.12 in the 17th payment on the new mortgage.
The formula for the monthly payment of a mortgage is given by: P = L[c(1 + c)n]/[(1 + c)n - 1] Where P is the monthly payment, L is the loan amount, c is the interest rate, and n is the number of monthly payments.
Mary has been paying a fixed rate mortgage for five years with an APR of 4%, so we have c = 0.04/12, n = 12*5 = 60, and L = $800,000. Using the formula, we get: P = (800000*(0.04/12)*(1+(0.04/12))^60)/((1+(0.04/12))^60 - 1) = $15,763.36Now, Mary is renewing her mortgage today, and the rates have dropped to 1.2%. Hence, we have c = 0.012/12, and n = 17*12 = 204.
Substituting these values into the formula, we get: P = (800000*(0.012/12)*(1+(0.012/12))^204)/((1+(0.012/12))^204 - 1) = $5,744.12Thus, Mary will pay $5,744.12 in the 17th payment on the new mortgage. Now, in the first month, the interest portion of the payment is given by:I1 = L*c = 800000*(0.012/12) = $800 In the second month, the interest portion will be slightly lower because the principal amount has reduced due to the payment made in the first month.
The amount by which the principal reduces is the payment made minus the interest portion, i.e. P - I1 = $5,744.12 - $800 = $4,944.12. Hence, the principal amount after the first payment will be L - (P - I1) = $800,000 - $4,944.12 = $795,055.88. Using this value, the interest portion for the second month can be calculated as: I2 = (L - (P - I1))*c = $795,055.88*(0.012/12) = $795.06
Using the above process, we can calculate the interest portion for the 17th month, which is given by:I17 = (L - (P - I16))*c The payment that goes towards reducing the debt is the difference between the total payment and the interest portion. Hence, we have: Fraction of the 17th payment that goes towards reducing the debt = (P - I17)/P.
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You have a catastrophe bond with a 1 year maturity. principal amount is $1,000 and the coupon rate is 9%. Assume that the estimated expected loss as a percentage of the principal amount is 4%. Assume tone-year risk-free return is 3%. Also, assume that the required risk premium is 2%. Use the discounted cash flow model to find the value of the bond when it is issued
The value of the bond when it is issued is $1,040.95.
To calculate the value of the catastrophe bond, we need to discount the expected cash flows using the given assumptions. The expected cash flows include the principal amount plus the annual interest payment and the expected loss:
Expected cash flow = principal amount x (1 - expected loss) + coupon rate x principal amount
Annual interest payment = coupon rate x principal amount
Assuming an annual risk-free rate of return of 3%, and a required risk premium of 2%, the discount rate is 3% + 2% = 5%.
The value of the bond at issuance is:
Value = (Principal amount x (1-expected loss) + coupon rate x principal amount) / (1+discount rate)
Value = ($1,000 x (1-0.04) + 0.09 x $1,000) / (1 + 0.05)
Value = $1,040.95 (rounded to the nearest cent)
Therefore, the value of the bond when it is issued is $1,040.95.
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Discuss all FOUR purposes needed for ethics in news writing and reporting. Support each purpose with relevant examples based on case studies from any local or international media organizations.
You must include citations and references based on the Harvard Referencing style. (50 MARKS)
The four primary purposes for ethics in news writing and reporting are accuracy, objectivity, fairness, and balance.
Accuracy: News organizations must strive to accurately report facts, figures, and quotes from sources. To ensure accuracy, reporters should use multiple sources and double-check facts before publishing. As an example, The Guardian implemented a Reader’s Editor office to ensure that every fact in their articles is accurate before publication (Bell, 2018).
Objectivity: Reporters should remain unbiased in their reporting and writing. This includes avoiding the use of sensational language, speculations, and personal opinions. As an example, The New York Times only allows their reporters to provide opinions in dedicated opinion pieces, and requires them to remain objective in their news writing (“Journalism Ethics and Standards,” 2019).
Fairness: In their news coverage, reporters should strive to be fair to all parties involved, including victims, accused parties, and people mentioned in the story. As an example, when reporting on the trial of the late singer Michael Jackson, the BBC avoided making any assumptions and reported the facts of the case fairly (Nazzal, 2020).
Balance: Reporters should strive to accurately represent all points of view, even when reporting on controversial topics. As an example, NPR balanced its reporting on climate change by interviewing both climate change skeptics and climate change advocates (“Editorial Standards and Practices,” 2020).
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why were people willing to trade over long distances in the post-classical period? choose 1 answer: choose 1 answer: (choice a) trade was not profitable, but it offered a chance for adventure and travel a trade was not profitable, but it offered a chance for adventure and travel (choice b) by transporting high-value goods to places where these goods were in demand, it was possible to make large profits b by transporting high-value goods to places where these goods were in demand, it was possible to make large profits (choice c) transporting goods was usually cheap and easy, so trade offered easy profits c transporting goods was usually cheap and easy, so trade offered easy profits
People were willing to trade over long distances in the post-classical period because by transporting high-value goods to places where these goods were in demand, it was possible to make large profits. The correct answer is (choice b):
During the post-classical period, the expansion of empires and the spread of religions led to an increase in long-distance trade. People were willing to trade over long distances because they could transport goods, such as spices, silk, and precious metals, to places where these goods were in demand and fetch high prices.
This led to the growth of trade networks, such as the Silk Road, which connected China to the Mediterranean and facilitated the exchange of goods, ideas, and cultures. The profits from trade were significant and attracted merchants, traders, and explorers to venture into new territories and establish trade routes.
Therefore, the correct option is (choice b).
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You are expected to explore the initiatives and activities to promote domestic and regional travel as well as propose a sustainable-ecotourism tour in Japan
The task details
Internal tourism sector overview of the given country, including:
1) Historical background, cultural and trends on tourism types available. (Aim at identifying good and bad practices)
2) Statistical information of domestic and international tourism in a given country (including, but not limited to trends, expenditures, shares) and other information which might be relevant to the context
3) Analysis of the initiatives to promote domestic and international regional tourism (partnerships, incentives, educational programs)
Exploring initiatives and activities to promote domestic and regional travel in Japan is an important step towards promoting sustainable ecotourism.
Historical background and cultural trends on tourism types available in Japan should be investigated, in order to identify good and bad practices. Statistical information of domestic and international tourism in Japan should be evaluated, including trends, expenditures, shares, and other relevant information.
Additionally, initiatives to promote domestic and international regional tourism should be analyzed, such as partnerships, incentives, and educational programs.
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Suppose that business travelers and vacationers have the following demand for airline tickets from new york to boston: quantity demanded quantity demanded price business travelers vacationers $150 2,200 tickets 1,200 tickets 200 2,100 1,000 250 2,000 800 300 1,900 600 a) as the price of tickets rises from $200 to $250. What is the price elasticity demand for i. Business travelers ii. Vacationers? (use the midpoint method in all your calculations, round your answer to two decimals. ) b) why might vacationers have a different elasticity from business travelers? who has more elastic demand? 3. You work for a marketing firm that has just landed a contract with run-of-the-mills to help them promote three of their products: splishy splashies, raskels, and cannies. All of these products have been on the market for some time, but to entice better sales, run-of-the-mills wants to try a new advertisement that will market two of the products that consumers will likely consume together. As a former economics student, you know that complements are typically consumed together while substitutes can take the place of other goods. Run-of-the-mills provides your marketing firm with the following data: when the price of splishy splashies increases by 5%, the quantity of raskels sold decreases by 4% and the quantity of cannies sold increases by 5%. Your job is to use the cross-price elasticity between splishy splashies and the other goods to determine which goods your marketing firm should advertise together. A) what is the price elasticity of demand for raskels in response to changes in the price of splishy splashies? (hint: cross-price elasticity. ) b) what is the price elasticity of demand for cannies in response to changes in the price of splishy splashies? c) which product will you recommend marketing with splishy splashies? 4. Suppose you are a senior college student who provides math tutoring for extra cash. At a wage of $25 per hour, you are willing to tutor 5 hours per week. At $40 per hour, you are willing to tutor 10 hours per week
We can estimate that the price elasticity of the demand for tutoring services among students is 2. This is due to the fact that the percentage change in the number of tutoring hours is double that of the wage rate.
How is wage rate determined?To start, multiply the weekly hours by the number of weeks in a year to get the overall number of hours worked (52). Then subtract this amount from the annual pay. For instance, if a worker earns $50,000 annually and puts in 40 hours per week, their hourly rate would be $50,000/2,080 (40 x 52) = $24.04.
How do you figure out a pay increase of 30%?You must determine 30% of your existing income in order to calculate a 30% salary increase and then add that sum to your current pay. For instance, let's say you earn ₹50,000 a month at the moment.
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Sumi is known for her inability to be on time for group meetings. When she is late, her boss nags her about it. When she is on time, her boss says nothing. This is an example of
a timetable for reinforcement, specifically an intermittent reinforcement schedule for partial reinforcement. Even when the reinforcement is random or irregular, this intermittent reinforcement schedule can be quite effective since it can result in persistent behaviour.
Which of the following best reflects ethical workplace behaviour?Which of the following best reflects ethical workplace behaviour? A person must act in a way that is compatible with their personal values, society's values, and the values of the organisation.
Which of the following statements best describes people who are failure-oriented?Which of the following statements about failure-focused people is accurate? They blame their mistakes on a lack of skill, which may lead them to feel incompetent. Which of the following best describes how behavior-based personality measures? They look at a person's
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In the fall, Crusoe puts 50 coconuts from his harvest into a cave just before a family of bears goes in to hibernate. As a result, he is unable to get the coconuts out before the bears emerge the following spring. Coconuts spoil at the same rate no matter where he stores them, and yet he continues this practice each year. Why might he do this?
Crusoe can do it prevent himself from eating too quickly. The sleeping bears may/might thus act as a commitment device for solving Crusoe’s self-control problem/issue.
One aspect of inhibitory control, self-control, is the ability to regulate one's emotions, thoughts, and actions in the face of temptations and urges. As an executive function, it is the cognitive process necessary to coordinate one's behavior to achieve a specific goal.
A related concept in psychology is emotional self-regulation. Self-control is like a muscle. Research has shown that self-regulation, whether emotional or behavioral, is a finite resource that functions like energy. In the short term, overusing self-control can wear you down. However, in the long term/long-run, the use of self-control can strengthen and improve over time.
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in which situations does a company issue a note receivable? (check all that apply.) multiple select question. the company converts an existing account receivable to grant the customer an extended payment period for the amount owed plus interest. the company sells to customers on account and expects payment within 30 days. the company lends money to employees or businesses.
Promissory notes can be issued by any business, including single proprietorships, partnerships, and huge corporations, and the transaction should be recorded in a notes receivable account.
What circumstances give rise to a corporation issuing a note receivable?
The business provides loans to customers or clients. To give the client an extended payment period for the balance due plus interest, the business transforms an existing account receivable.
What kind of circumstance might lead a business to create a note receivable?If a business regularly advances wages to employees, it may need a signed promissory note that specifies how the employee will pay back the advance. The sum that the employee currently owes is a note receivable.
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7. If a company is implementing a kanban system and has captured the following data, how many kanbans do they need in their system? the company is conservative and does not want to run out of product
If a company is implementing a kanban system and has captured the following data, it might need 2.99~3 kanban, must round up if conservative, and does not want to run out of product.
Japanese for "sign," Kanban is an inventory control method used in just-in-time (JIT) manufacturing to keep track of production and make orders for new supply of materials and components. Kanban, developed by Toyota industrial engineer Taiichi Ohno, uses visual cues to inspire the activity necessary to sustain a process flow.
The core idea behind Kanban is to visualize each individual task. The Kanban board serves as a hub for information exchange and keeps everyone up to date using this method. The entire working process is transparent because all tasks were visible and never lost.
A Lean process management approach called Kanban was inspired by Toyota's just-in-time manufacturing methodology. It is used to monitor workflow and make sure that activities are finished quickly and correctly. The system places a strong emphasis on work visualization, restricts work-in-progress (WIP), and facilitates a seamless flow.
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Car and technology companies are currently competing over who can offer the first self-driving car. This is an example of a(n) _________ strategy.
a. Differentiation
b. Customer oriented
c. Cost leader
d. Operational effectiveness
e. Innovation
The strategy being employed by car and technology companies to offer the first self-driving car is an example of an innovation strategy.
A company's innovation strategy is intended to differentiate it from its rivals by developing new goods, services, or procedures that offer distinctive advantages to customers. In this situation, businesses are attempting to set themselves apart by creating self-driving vehicles, which would be a big technology development and maybe give them a competitive advantage in the market.
Although operational effectiveness and cost leadership are certainly vital initiatives, they have little to do with the advancement of self-driving automobiles. Customers' requirements are the primary emphasis of a customer-oriented strategy, but in this situation, the companies are developing a product that doesn't yet exist and that customers might not have expected. An innovation plan is therefore the best course of action in this case.
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Question 6 of 6 Total Liabilities and Stockholders' Equity • Accounts payable $275,400 $181,710 • Accrued expenses payable \begin{tabular}{rr} 44,550 & 56,700 \\ • Bonds payable 297,000 & 394,200 \\ • Common stock 594,000 & 472,500 \\ • Retained earnings 631,800 & 284,715 \\ \• Total $1,842,750 & $1,389,825 \\ \hline \end{tabular} question 6 of 6 Buffalo Industries Income Statement Data For the Year Ended December 31, 2022 • Sales revenue $1,048,842 Less: • Cost of goods sold $365,742 • Operating expenses, excluding depreciation 33,507 • Depreciation expense 125,550 • Income tax expense 73,656 • Interest expense 12,771 • Loss on disposal of plant assets ,20,250 & 631,476• Income $417,366dditional information: 1. New plant assets costing $270,000 were purchased for cash during the year. 2. Old plant assets having an original cost of $155,250 and accumulated depreciation of $130,950 were sold for $4,050 cash. 3. Bonds payable matured and were paid off at face value for cash. 4. A cash dividend of $70,281 was declared and paid during the year.
To answer this question, we must calculate the Total Liabilities and Stockholders' Equity for the year ended December 31, 2022.
We start with the given values:
We then need to account for the transactions that occurred during the year.
To calculate the new Total Liabilities and Stockholders' Equity, we need to make the following adjustments:
We can now calculate the new Total Liabilities and Stockholders' Equity:
The new Total Liabilities and Stockholders' Equity is $1,475,469 ($275,400 + $44,550 + $0 + $594,000 + $561,519).
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What global sports sponsor did you select? Why?
What event/circuit/sport do they partner with? (pick one if they
are involved in more than 1)
Briefly describe their global program for this event/athlete, etc?
In terms of 'global brand/sports/athletics sponsor, what is the "it" about how they activate the program that you believe raises this brand above others in consideration? What do you base your position on?
Nike is a global sports sponsor that partners with various events and athletes across different sports. One of their major partnerships is with the National Football League (NFL) in the United States, where they are the official supplier of uniforms and equipment for all 32 teams.
Nike's global program for the NFL involves creating innovative and high-quality uniforms and equipment for the teams, as well as producing various merchandise for fans. They also sponsor several high-profile athletes in the league, such as Odell Beckham Jr., Saquon Barkley, and Lamar Jackson, among others.
What sets Nike apart from other sports sponsors is their strong focus on branding and marketing. They consistently produce visually appealing and impactful campaigns that resonate with fans around the world. Their "Just Do It" campaign, which has been running for decades, is one of the most recognizable slogans in sports advertising. Nike also has a strong social media presence and uses influencers and athletes to promote their brand and products.
My position is based on Nike's long-standing reputation as a leader in sports branding and marketing. Their consistent track record of successful campaigns and partnerships demonstrates their ability to activate their programs in a way that resonates with fans and consumers.
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Discuss the alternative methods of acquiring a new accounting
system available to Jendela Emas. Compare and contrast each of
those methods (without the aid of a table).
Jenelle Emma's is looking to acquire a new accounting system, and there are several alternative methods available to them.
The following are some of the alternative methods of acquiring a new accounting system:1. Purchase of accounting software: A company can purchase accounting software that suits its needs. Accounting software is a program that processes accounting transactions and maintains accounting records.2. Lease: A company can lease an accounting system. Leasing an accounting system allows the company to pay for the use of the software instead of purchasing it outright.3. Subscription: Another alternative is to subscribe to a cloud-based accounting system. Subscribing to a cloud-based accounting system allows the company to pay for the use of the system without having to worry about updates and maintenance.
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A zero-coupon bond has a par value of $1,000 and a yield-to-maturity of 6%. You purchase the bond when it has exactly 18 years remaining until maturity. You hold the bond for 6 months, collect the coupon payment, and then sell the bond immediately. If the bond's yield-to-maturity is 8% when you sell it, what is your percentage return over this 6-month holding period? Enter your answer as a decimal and show 4 decimal places. For example, if your answer is 6.25%, enter .0625.
Your percentage return over this 6-month holding period is 1.1982.
To calculate your percentage return over this 6-month holding period, you can use the formula:
Percentage return = (Sale price + Coupon payment - Purchase price) / Purchase price
To calculate the purchase price of the bond, we need to use the formula to calculate the present value of the bond with 18 years remaining until maturity:
Purchase price = Par value / (1 + Yield) ^ Time
where Yield is the yield-to-maturity and Time is the time remaining until maturity in years. Plugging in the given values, we get:
Purchase price = 1000 / (1 + 0.06) ^ 18
Purchase price = 317.207
After holding the bond for 6 months, we collect the coupon payment. The coupon payment is the product of the coupon rate (which is not given, so we'll assume it is 6% of the par value) and the face value of the bond:
Coupon payment = 0.06 * 1000 / 2 = 30
We can now calculate the sale price of the bond when the yield-to-maturity is 8%. Using the same formula as before, we get:
Sale price = 1000 / (1 + 0.08) ^ (18 - (6/12))
Sale price = 695.772
Plugging in all the values in the percentage return formula, we get:
Percentage return = (695.772 + 30 - 317.207) / 317.207
Percentage return = 1.1982
Therefore, your percentage return over this 6-month holding period is 1.1982.
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On May 1, 2023, Wildhorse Ltd. began construction of a new building for its own use. Expenditures of $81006 were incurred monthly for five months beginning on May 1. The building was completed and ready for occupancy on September 1, 2023. For the purpose of determining the amount of interest cost to be capitalized, the weighted-average of the accumulated expenditures on the building during 2023 were
a.$405030.
b.$67505.
c.$81006.
d.$202515.
The accumulated expenditures on the building during 2023 were A) $405030. This represents the weighted-average of the accumulated expenditures on the building during 2023.
What is capitalization of interest?Capitalization of interest refers to the amount of interest a company spends on borrowed funds that are used to pay for assets such as buildings, machinery, and other capital expenditures.
Rather than recording the interest as an expense in the period in which it was paid, a business may capitalize it, meaning that the interest is included in the overall cost of the asset and is thus allocated over its useful life.
Capitalizing interest adds to the total amount of an asset, as well as the cost of goods sold (COGS), but it also adds to depreciation expenses on the income statement.The total expenditures on the building is $405030.
Calculation of the average accumulated expenditures for the five months from May 1 to September 1 can be done as follows;
May 1 to May 31 = $81006
June 1 to June 30 = $81006
July 1 to July 31 = $81006
August 1 to August 31 = $81006
September 1 = $81006
The accumulated expenditures for the five months would be;
$81006 + $81006 + $81006 + $81006 + $81006 = $405030
Therefore, the answer is a. $405030.
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what is the function of the markets? group of answer choices markets create demand to earn profits. markets sell goods to make use of inputs. markets produce output to cover costs. markets reallocate resources, goods, and services to better uses.
The function of the markets is to reallocate resources, goods, and services to better uses.
Markets are any mechanism or process that facilitates the exchange of goods, services, and information. Markets are generally defined as a place where goods and services are exchanged in a mutually beneficial manner between buyers and sellers.
There are several functions of markets. They are:
Markets promote economic efficiency: Markets allocate resources to their most effective uses, resulting in greater productivity and output.
Markets allocate goods and services: Markets allow goods and services to be distributed according to the desires of buyers and sellers.
Markets promote innovation: The possibility of profits encourages entrepreneurs to create new products and improve existing ones.
Markets enhance consumer well-being: Consumers benefit from the increased choices and lower prices that result from competition.
Markets facilitate international trade: Markets allow countries to specialize in the production of goods and services that they can produce efficiently, allowing them to trade with other countries and acquire goods and services that they cannot produce efficiently.
The function of the markets is to reallocate resources, goods, and services to better uses. It means that markets provide an efficient way to distribute goods and services among buyers and sellers.
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which of the following is a disadvantage of the international business strategy of licensing? group of answer choices it allows a firm to enter a foreign market in high-risk conditions. it subjects the original firm to high transportation expenses. the costs of licensing are quite high and must be borne solely by the original firm. the profits of a firm using this strategy are limited to those it receives from royalty payments.
The disadvantage of the international business strategy of licensing is that the profits of a firm using this strategy are limited to those it receives from royalty payments.
Licensing is one of the modes of foreign market entry, wherein the owner of a brand or a technology permits another firm to use its intellectual property in exchange for a fee known as royalties.
Licenses are contractual agreements that allow firms to use another's intellectual property in a foreign market in exchange for compensation in the form of royalties. Licensing is a low-risk approach for a firm that does not want to commit resources to international expansion.
However, it does have a few disadvantages. The disadvantage of the international business strategy of licensing is that the profits of a firm using this strategy are limited to those it receives from royalty payments. Licensing also places a limit on the amount of control a firm has over its intellectual property.
In this agreement, the licensee is not obligated to implement a specific marketing or distribution strategy, and as a result, the licensor has no control over the licensee's conduct. The licensee will take the responsibility of manufacturing, advertising, and distributing the product under the licensing agreement.
Because the licensee has control over the production and distribution of the product, the original firm's revenues are limited to royalties. As a result, it may be challenging for the original firm to profit from its intellectual property rights under a licensing arrangement.
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Name a device which allows us to take products off a trailer at
our dock doors and bring them into our facility. Describe or
illustrate how this device operates
One device that allows products to be taken off a trailer at dock doors and brought into a facility is a "dock leveler".
Dock levelers bridge the gap between the trailer and the dock, providing a smooth transition for forklifts and other material handling vehicles to move between the two surfaces. Typically, a dock leveler consists of a metal plate that can be raised and lowered to meet the height of the trailer bed, and can support the weight of the forklift and the load it's carrying.
Here is an example of how a dock leveler operates: When a trailer backs up to the loading dock, the dock leveler is positioned at the edge of the dock and lowered down to meet the height of the trailer bed. The lip of the leveler is then extended out and rests on the bed of the trailer. The operator can then use a forklift or other material handling equipment to load or unload the products. When the loading or unloading is complete, the operator removes the forklift from the trailer and the dock leveler is raised back to the level of the dock. This allows the trailer to be safely separated from the dock without any sudden drops or bumps.
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You are an Assurance professional, and your spouse is considering applying for the CFO position at your primary audit client for which you are a covered person. If they take that position, can you continue to serve that audit client? Choose the Correct Letter
A. No, and they also cannot be an FROR on any EY audit client, regardless of whether you are a covered person or not.
B. Yes, if you will not have any day-to-day interaction with them as part of the audit.
C. No, you cannot be a Category 1 covered person where an immediate family member is in an FROR
D. Yes, if they do not hold any employment related interests you can continue being on that engagement.
The correct answer is C. No, you cannot be a Category 1 covered person where an immediate family member is in an FROR (Financial Reporting Oversight Role) at the audit client for which you are a covered person.
An FROR includes positions such as CEO, CFO, COO, or director of finance, among others.
It is important to maintain independence from the audit client to ensure objectivity and credibility of the financial statements being audited. A conflict of interest may arise if a covered person's immediate family member has a senior position in the audit client as there may be pressure to overlook or minimize any irregularities in the financial reporting process.
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ALM 811S 2nd Opp -July 2018 Question 1 (25 marks) (a) Outline
the five major forces for global logistics. (10 marks) (b) Evaluate
the main components of a global logistics strategy. (15 marks)
The five major forces for global logistics are competitive forces, regulatory forces, political forces, economic forces, and technology forces. The main components of a global logistics strategy are product design, transportation management, transportation infrastructure, warehousing, inventory management, and quality management.
Global logistics is an activity that involves the process of delivering goods and services from the producer or supplier to the final consumer. In the delivery of goods and services, five major forces for global logistics play a crucial role.
Five Major ForceCompetitive Forces: This force consists of businesses that are competing to provide the same goods and services, and therefore compete with each other in the market.Regulatory Forces: The regulatory force represents the rules and regulations that guide business operations, especially in the international logistics system. The regulations include tax policies, customs regulations, and government export policies.Political Forces: This is a force that has a direct impact on global logistics. It is the force that represents the government's policies on import and export. The policies are usually implemented by the government to protect local producers from foreign competition.Economic Forces: Economic forces include exchange rate volatility, inflation, transportation costs, and trade barriers. These factors determine the prices of goods and services in different markets.Technological Forces: Technological advancement has made the global logistics system more effective and efficient. The introduction of the internet has led to the development of online purchasing and order processing systems.A global logistics strategy is an essential component of the global supply chain system. The main components of a global logistics strategy are as follows:
ComponentsProduct design: This component is important because it determines the product's characteristics, which will have an impact on the logistics system. The design must consider transportation, warehousing, packaging, and distribution channels.Transportation Management: This component involves the movement of goods from the manufacturer to the consumer. The transportation system includes air, sea, road, and rail.Transportation Infrastructure: The infrastructure refers to the systems used to transport goods, such as roads, railways, airports, and ports. The infrastructure must be able to handle the volume of goods that need to be transported.Warehousing: This component involves the management of goods in a warehouse. The warehouse must be located strategically to reduce transportation costs, and it must be able to handle the volume of goods that need to be stored.Inventory Management: This component involves managing the inventory levels of goods to ensure that there are sufficient goods to meet demand. It also helps to reduce the cost of storing and transporting goods.Quality Management: This component ensures that goods and services meet the required standards. It involves ensuring that the quality of goods is maintained during transportation, storage, and distribution.Learn more about Global logistics:
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After reading the Introduction, Overview, and Instructor Notes as well as the assigned chapter(s) in the Nagle, et. al. textbook, please answer the following: What is the key to profitable pricing in the context of a competitive environment? Is a marketing strategy focused on attaining, exploiting, and maintaining a long-term competitive advantage necessarily consistent with gaining sales with pricing? Briefly explain one topic or issue from this week’s material that may benefit you personally or professionally. Please include some general examples. Please provide specific examples to support your position.
The key to profitable pricing in a competitive environment is setting prices that will generate the most profit while still being attractive to customers. A marketing strategy that is focused on attaining, exploiting, and maintaining a long-term competitive advantage is not necessarily consistent with gaining sales with pricing.
One topic from this week’s material that may benefit me personally or professionally is understanding the importance of price elasticity of demand. Price elasticity of demand measures the responsiveness of demand for a good or service when prices change. It is important for a company to understand the elasticity of demand for its products in order to be able to price them correctly in order to make a profit. For example, if the demand for a product is inelastic, then raising prices can increase the company’s profit margin. Conversely, if the demand for a product is elastic, then lowering prices can increase the company’s market share. Understanding this concept can help me to make better decisions regarding pricing of my own products or services.
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E7.3B. Bank Reconciliation Use the following information to prepare a bank reconciliation for Dylan Company at April 30: 1. Balance per Cash account, April
30,$6,042.10
. 2. Balance per bank statement, April
30,$6,428.28
. 3. Deposits not reflected on bank statement,
$575
. 4. Outstanding checks, April
30,$1,340,18
. 5. Service charge on bank statement not recorded in books,
$19
. 6. Error by bank - Dillard Company check charged on Dylan Company's bank statement,
$450
. 7. Check for advertising expense,
$230
, incorrectly recorded in books as
$320
. 7.4A. Bank Reconciliation On July 31. Arthur Company's Cash in Bank account had a balance of
$8,112.62
. On that date, the bank statement indicated a balance of
$10,170.62
. A comparison of returned checks and bank advices revealed the following: 1. Deposits in transit July 31 amounted to
$3,316.12
. 2. Outstanding checks July 31 totaled
$1,251.12
. 3. The bank erroneously charged a
$215
check of Solomon Company against the Arthur bank account. 4. A
$15
bank service charge has not yet been recorded by Arthur Company. 5. Arthur neglected to record
$4,000
borrowed from the bank on a 10 percent six-month note. The bank statement shows the
$4,000
as a deposit. 6. Included with the returned checks is a memo indicating that J. Martin's check for
$610
had been retumed NSE. Martin, a customer, had sent the check to pay an account of
$660
less a
$50
discount. 7. Arthur Company recorded a
$107
payment for repairs as
$1,070
. Required a. Prepare a bank reconciliation for Arthur Company at July 31 . b. Prepare the joumal entry (or entries) necessary to bring the Cash in Bank account into agreement with the reconciled cash balance on the bank reconciliation.
A bank reconciliation statement is a document that compares a company's cash balance on its balance sheet to the amount on its bank statement. Reconciling the two accounts aids in determining whether accounting adjustments are required.
What are 4 types of bank reconciliation?Account Reconciliation Types. Account reconciliations occur in a variety of formats and can be used for either personal or professional purposes. Account reconciliation is classified into five types: bank reconciliation, vendor reconciliation, business-specific reconciliation, intercompany reconciliation, and customer reconciliation.
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the following monthly data are available for the wyatt corporation and its only product: the margin of safety for the company during may was: a. $27,000 b. $56,000 c. $6,000 d. $106,000 6. a manufacturing company that produces a single product has provided the following data concerning its most recent month of operations: selling price $ 133 units in beginning inventory 0 units produced 7,000 units sold 6,800 units in ending inventory 200 variable costs per unit: direct materials $ 41 direct labor $ 57 variable manufacturing overhead $ 5 variable selling and administrative expense $ 4 fixed costs: fixed manufacturing overhead $ 133,000 fixed selling and administrative expense $ 34,000 what is the total period cost for the month under absorption costing? a) $61,200 b) $133,000 c) $34,000 d) $194,200 7. how would the following costs be classified (product cost or period cost) under the variable costing method at a retail clothing store? cost of purchasing clothing sales commissions a) product product b) product period c) period product d) period period
The Wyatt Corporation and its only product had a margin of safety of $56,000 for the month of May. For the retail clothing store, the cost of purchasing clothing would be classified as a product cost under the variable costing method, and sales commissions would be classified as a period cost.
For the manufacturing company that produces a single product and provided the following data concerning its most recent month of operations: selling price of $133, units in beginning inventory of 0, units produced of 7,000, units sold of 6,800, units in ending inventory of 200, variable costs per unit: direct materials of $41, direct labor of $57, variable manufacturing overhead of $5, and variable selling and administrative expense of $4, the total period cost for the month under absorption costing is $61,200.
For the retail clothing store, the cost of purchasing clothing would be classified as a product cost under the variable costing method, and sales commissions would be classified as a period cost. Under the variable costing method, product costs include direct materials, direct labor, and variable manufacturing overhead. These costs are related to the production process and can be easily identified with the product. On the other hand, period costs are those costs that are not directly related to the production of a product.
These costs are usually administrative costs, like sales commissions, which do not increase or decrease depending on the number of products produced.
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Fill in the 3 blanks
a newsboy problem setting, critical ratio’s being less than 50% implies that the risk of ........................................... is much more than the risk of ..............................; therefore, optimal initial order quantity to order or produce for the selling period is ........................... than the average/expected demand for the given period
A newsboy problem setting, critical ratio’s being less than 50% implies that the risk of overstocking is much more than the risk of understocking; therefore, optimal initial order quantity to order or produce for the selling period is less than the average/expected demand for the given period.
What is a newsboy problem?In a newsboy problem setting, a retailer has a limited window of time to purchase newspapers at a wholesale price that is cheaper than the retail price. The retailer must choose how many newspapers to purchase based on the anticipated demand. If they purchase too few, they risk missing out on sales, and if they purchase too many, they will be stuck with excess inventory that will not sell.
The goal is to find the correct balance so that the stock runs out at the end of the sale period. The critical ratio is a calculation that determines the ratio of expected demand to expected supply. If the critical ratio is less than 50%, the retailer risks overstocking.
On the other hand, if the critical ratio is higher than 50%, the retailer risks running out of stock. To prevent overstocking, the optimal initial order quantity to order or produce for the selling period should be less than the average/expected demand for the given period.
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which of the following is true regarding shift work? a. shift work is considered a welcome change of pace by those workers who normally don't do it. b. studies have shown that employees who work irregular shifts are more efficient and less likely to have an accident on the job than employees working regular shifts. c. shift work often leads to severe depression d. shifts must be assigned to accommodate workflow.
Option D is correct regarding the following question; Shifts must be assigned to accommodate workflow.
Shift work refers to a work schedule in which an employee works outside of the usual 9 a.m. to 5 p.m. hours. Depending on the work environment, shift work maybe 24 hours a day, seven days a week, or only at specific times throughout the week, such as overnight or on weekends to accomodtae workflow.
A wide range of people, from nurses to customer service representatives, work in shift work. When companies or industries require workers to work in shifts, they typically do so to cover the demands of a 24-hour business.
For example, a hospital may need nurses and doctors to work overnight shifts to ensure that patient care is available 24 hours a day.
Shifts must be assigned to accommodate workflow, and this statement is correct regarding the question. To adjust or make changes to something to make it work better is to accommodate.
This means that shifts must be assigned to accommodate workflow, which means that scheduling should be completed based on the organization's business operations or demands.
Shift work can have a significant impact on workers' daily lives and can cause health problems such as insomnia, depression, and stress due to the irregularity of their working hours.
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what should you do to maintain a professional impression during the interviews? locate an expert. call and confirm arrangements before the interview. avoid taking notes but listen carefully.
To maintain a professional impression during the interviews, the following are a few things that you should do: Call and confirm arrangements before the interview, Avoid taking notes but listen carefully, Locate an expert.
1. Call and confirm arrangements before the interview: It's important to confirm all the arrangements before the interview. This includes the date and time of the interview, the venue, and the interviewer's name. This helps to avoid any confusion on the day of the interview, and it also shows that you are organized and punctual.
2. Avoid taking notes but listen carefully: While it's important to listen carefully to the interviewer, it's equally important to avoid taking notes during the interview. This is because taking notes can be distracting, and it also sends the message that you are not fully present in the interview. Instead, it's better to listen carefully and try to remember as much as possible.
3. Locate an expert: Locating an expert is one of the ways you can maintain a professional impression during interviews. This is because experts have a lot of experience with interviews, and they can provide you with valuable insights on how to make a good impression. You can locate an expert by attending networking events, reaching out to industry professionals on social media, or by joining professional organizations.
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The ethical issues presented in the leadership ethics chapter a. Provide a model of ethical leadership theory b. Provide a guide to ethical issues in leadership situations c. Constitute a leadership ethics theory d. Are clear prescriptions for leading ethically
The correct option for this question is b. Provide a guide to ethical issues in leadership situations.
what is leadership?
Leadership refers to the ability of an individual or a group of individuals to influence and guide others towards a common goal or objective. It involves setting a vision, motivating and inspiring others, and providing guidance and direction to achieve that vision.
Effective leadership involves a combination of various traits, skills, and behaviors that enable leaders to build relationships, communicate effectively, make decisions, and solve problems while creating a positive impact on their followers or team members.
Leadership is a key aspect of organizational success and can be found in various contexts, such as business, politics, sports, and social settings. Leadership is essential in a variety of settings, including business, politics, education, and social organizations.
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P6-7 Recording Sales, Returns, and Bad Debts (Chapter Supplement) Recording Sales, Returns, and Bad Debts (AP6-7) Use the data presented in P6-1, which were selected from the records of Sykes Company for the year ended December 31, current year. Required: 1. Give the journal entries for these transactions, including the write-off of the uncollectible account and the adjusting entry for estimated bad debts. Do not record cost of goods sold. Show computations for each entry. 2. Show how the accounts related to the preceding sale and collection activities should be reported on the current year income statement. Reporting Net Sales a The following data were current year. 1 In the following order, except for cash sales, the company sold merchandise and made collections on credit terms
2/10,n/30
(assume a unit sales price of
$500
in all transactions). Assume a unit cost of
$300
in all the sales transactions. Transactions during current year a. Sold merchandise for cash,
$235,000
. b. Sold merchandise to
R
. Smith; invoice price,
$11,500
. c. Sold merchandise to
K
. Miller; invoice price,
$26,500
. d. Two days after purchase date, R. Smith returned one of the units purchased in (
b
) and received account credit. e. Sold merchandise to B. Sears; invoice price,
$24,000
. f. R. Smith paid his account in full within the discount period. g. Collected
$98,000
cash from customer sales on credit in prior year, all within the discount periods.
h
. K. Miller paid the invoice in
(c)
within the discount period. i. Sold merchandise to R. Roy; invoice price,
$19,000
. j. Three days after paying the account in full,
K
. Miller returned seven defective units and received a cash refund. k. After the discount period, collected
$6,000
cash on an account receivable on sales in a prior year. l. Wrote off a prior year account of
$3,000
after deciding that the amount would never be collected.
m
. The estimated bad debt rate used by the company was
1.5
percent of credit sales net of returns.
The journal entry will be:
Debit Cash $235,000
Credit Sales $235,000
Debit Accounts Receivable-R Smith $11,500
Credit Sales $11,500
Debit Accounts Receivable-K Miller $26,500
Credit Sales $26,500
Debit Sales Return & Allowance.$500
Credit Accounts Receivable-K smith $500
Debit Account Receivable-B.Sears $24,000
Credit Sales $24,000
Debit Cash $10,780
Debit Sales discount $220
Credit Accounts Receivable-K Smith $11,000
Debit Cash $98,000
Debit Sales Discount $2,000
Credit Accounts Receivable(pror year)
$100,000
Debit Cash $25,970
Debit Sales discount $530
Credit Accounts Receivable-K miller
$26,500
How to explain the valueAccount receivable -R Smith = $11500-$500 = $11000
Sales discount = $11000*2% = $220
Cash collected = $98000
Sales discount = $98000*2/98 =2000
Account receivable = $100000
Account Receivable- K Miller = $26500
Sales discount = $26500*2% = $ 530
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Suppose that the demand per ounce of a rare type of chocolate , QD, is represented by the following equation, where P is the price of chocolate and QDis the quantity of chocolate sold:QD = 2200 - 24PThe supply of chocolate, QS, is represented by the equation:QS = -500 + 79P
The equations presented represent the demand and supply of a rare type of chocolate, where demand is expressed as a function of price (QD = 2200 - 24P) and supply is expressed as a function of price (QS = -500 + 79P).
Demand is an economic concept that describes how much of a product or service people are willing and able to purchase at different prices. In the equation for the demand of this rare type of chocolate, we see that demand decreases as price increases. This means that, as the price of the chocolate increases, people are less likely to buy it. This concept is known as the law of demand, which states that people generally purchase more of a good when its price decreases.
Supply is an economic concept that describes how much of a product or service suppliers are willing and able to provide at different prices. In the equation for the supply of this rare type of chocolate, we see that supply increases as price increases. This means that, as the price of the chocolate increases, suppliers are more likely to produce and offer it. This concept is known as the law of supply, which states that suppliers generally produce more of a good when its price increases.
Together, the law of demand and the law of supply determine the equilibrium price and quantity of a product or service. At the equilibrium price, the quantity demanded by buyers is equal to the quantity supplied by sellers. The price at which this occurs can be calculated using the demand and supply equations, as well as the concept of supply and demand curves.
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