A hedge fund purchased credit score default swaps on securities it did no longer own as it believed that the securities have been probably to default. in this situation, the hedge fund is Speculating.
Securities are fungible and tradable financial instruments used to elevate capital in public and personal markets. There are mainly three sorts of securities: fairness—which provides ownership rights to holders; debt—essentially loans repaid with periodic payments; and hybrids—which integrate factors of debt and equity.
Security is a tradable financial asset. The term normally refers to any shape of the economic tool, however, its criminal definition varies by means of jurisdiction. shares, bonds, desired shares, and ETFs are some of the most not unusual examples of marketable securities. cash market instruments, futures, options, and hedge fund investments can also be marketable securities. stocks, bonds, desired stocks, and ETFs are many of the maximum commonplace examples of marketable securities. cash marketplace devices, futures, options, and hedge fund investments can also be marketable securities.
Learn more about Securities here:
brainly.com/question/25720881
#SPJ4
What term did don norman define as story that puts the operation of the system into context, weaving together all of the essential components, providing a framework, a context, and reasons for understanding?.
Don norman uses "conceptual model" to describes any story that puts the operation of the system into context which involves weaving together all of the essential components, providing a framework and a context and reasons for understanding.
What is a conceptual model?This refers to a model of an application that the designers want users to understand in which the users build the model in their minds of how it works; most time, it will be best if the model that users build in their minds is like the one the designers intended.
These models are abstract and psychological representations of how tasks should be carried out. So, these models are used subconsciously and intuitively as a way of systematizing processes.
Read more about conceptual model
brainly.com/question/20514959
#SPJ1
On a large scale, how would you physically separate plastic products from paper products?
Answer:
Put them in a tank of water
Explanation:
The paper will absorb the water and sink to the bottom. The plastic would float to the top and remain there to be scooped up
On an enormous scale, physically separating plastic items from paper items can be accomplished through a mix of automated arranging innovations and manual arranging processes.
In recycling areas, transport lines and mechanical screens are utilized to isolate the materials in view of their different actual properties. Optical arranging frameworks may likewise be utilized to recognize and isolate plastic and paper items in view of their visual attributes.
Moreover, air classifiers and thickness based partition methods can additionally refine the division cycle. Despite the fact that robotization assumes a critical part, manual arranging via prepared laborers is likewise important to guarantee exactness and quality in the detachment cycle, particularly while managing perplexing or blended squander streams.
Learn more about plastic items, from:
brainly.com/question/26400264
#SPJ7
True or false: assets are claims (by creditors) against the company.
It is a false statement that assets are claims (by creditors) against the company.
What is an assets?Basically, an assets refers to any item of property that is owned by a person or company, regarded as having value and available to meet debts, commitments, legacies etc.
In financial accounting, it means the resource with an economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future benefit. They are reported on a company's balance sheet and created to increase a firm's value or benefit the firm's operations.
Read more about assets
brainly.com/question/19440080
#SPJ1
On august 1 of year 2, a company paid cash to purchase prepaid rent. the december 31st adjusting entry will ______. multiple choice question.
On august 1 of year 2, a company paid cash to purchase prepaid rent. the december 31st adjusting entry will decrease assets, net income and stockholders' equity.
what is prepaid rent?
Rent in advance and accounting
It doesn't have to be difficult to keep track of your prepaid rent expenditures, but you will need to do so at the end of each month. Using a simple general ledger system, the accountant or bookkeeper enters the prepaid asset to the balance sheet account. It could be necessary to change the record to reclassify the rent cost as a prepaid account as a result. From there, accountants add a monthly entry to subtract the rent expense from the prepaid expense account.
Even if the amortisation of a prepaid rent payment is sometimes automated by accounting systems, you should constantly check the account at least once per accounting quarter. Although automation is a fantastic notion, it is not flawless. Certain products, such as prepaid cards, nevertheless require human interaction rental entries on the balance sheet.
Learn more about prepaid rent https://brainly.com/question/28481564
#SPJ4
dwight tells his buyer jamie that a nearby stream could possibly flood the basement, though it’s never happened to him. after signing the contract, jamie’s home inspector shows proof that the basement flooded last year, when dwight was still living in the home. what’s true about this situation?
Dwight tells his buyer Jamie that a nearby stream could possibly flood the basement, though it’s never happened to him. after signing the contract, Jamie's home inspector shows proof that the basement flooded last year, when Dwight was still living in the home.
The thing which is true about the situation is Dwight committed fraud, rendering Jamie's consent null and void.
In law, fraud is defined as intentional deceit in order to get an unfair or unlawful advantage or to deprive a victim of a legitimate right.
Fraud can violate civil law (for example, a fraud victim can sue the perpetrator to avoid the fraud or recover monetary compensation) or criminal law (for example, a fraud perpetrator can be prosecuted and imprisoned by governmental authorities), or it can cause no loss of money, property, or legal right but still be an element of another civil or criminal wrong.
Fraud may be committed for monetary gain or other benefits, such as getting a passport, travel document, or driver's license, or for mortgage fraud, in which the offender attempts to qualify for a mortgage by making false assertions.
Hence, Dwight committed fraud, rendering Jamie's consent null and void is true about the given situation.
Learn more about contract:
https://brainly.com/question/984979
#SPJ4
During june, buttrey corporation incurred $80,000 of direct labor costs and $20,000 of indirect labor costs. the journal entry to record the accrual of these wages would include a:_____.
The journal entry to record the accrual of these wages would include a:debit to Work in Process of $80,000.
What entries are required for direct labor costs and indirect labor costs?
The direct labor costs would be debited to work in process account because it is a direct of production whereas the indirect labor costs are not traceable to the finished output, hence, would be debited to manufacturing overhead, in essence, the sum of the direct and indirect labor costs would ended up being credited to salaries and wages payable because they are yet to be settled in cash, hence, the appropriate entries would be as follows:
Dr. work in process $80,000( for direct labor costs)
Dr. Manufacturing overhead $20,000(for indirect labor costs)
Cr Salaries and Wages payable($80,000+$20,000) $100,000
Find out more about accrued wages on:brainly.com/question/17095528
#SPJ1
Full questions with options:
During June, Buttrey Corporation incurred $80,000 of direct labor costs and $20,000 ofindirect labor costs. The journal entry to record the accrual of these wages would include a:A)debit to Work in Process of $80,000B)credit to Work in Process of $74,000C)debit to Work in Process of $74,000D)credit to Work in Process of $67,000
a professional athlete, currently has a contract that will pay him a large amount in the first year of his contract and smaller amounts thereafter. he and his agent have asked the team to restructure the contract. the team, though reluctant, obliged. steven and his agent came up with a counteroffer.
He and his agent have asked the team to restructure the contract. The team, though reluctant, obliged. Steven and his agent came up with a counteroffer.
What is reluctant?"Unwillingness" is the opposite of reluctance. If you caught a peek of the pilot and copilot sporting party hats and blowing noisemakers, your reluctance to take a plane would be reasonable. You have reluctance when you'd prefer not to accomplish anything.
Adjective. Someone who is hasty or acts hastily makes blunders or behaves foolishly since they don't act thoughtfully first. To base decisions on such facts would be foolish. Synonyms: rash, hasty, impulsive, imprudent Rashly adverb is another word for rash.
To learn more about reluctant from the given link:
https://brainly.com/question/27840809
#SPJ4
Which approach for constructing a wbs starts with the largest items of the project and breaks them into subordinate items?
The top - down approach for constructing a wbs starts with the largest items of the project and breaks them into subordinate items
In a "top-down" strategy, choices on what should be done are made by executives or other top individuals. They have the power to spread this strategy to lower levels of the hierarchy, who are more or less obligated to follow it.
The top-down strategy in public health focuses on initiatives that are managed by entire governments of intergovernmental organizations (IGOs) and help address global health-related issues. Top-down public health initiatives include efforts to eradicate smallpox and regulate HIV.
To know more about top - down approach
https://brainly.com/question/19672423
#SPJ4
in a management information system, structuring the data component to define what type of data is collected and in what form is usually easy if an organization has
In a management information system, structuring the data component to define what type of data is collected and in what form is usually easy if an organization has defined its strategic goals, objectives, and critical factors.
What is management information system?Management Information Systems can be described as the study of people as well as as technology and organizations, along with their interconnected relationships .
This system is very useful for firms realize maximum benefit from investment in personnel, equipment, hence In a management information system, structuring the data component to define what type of data is collected and in what form is usually easy if an organization has defined its strategic goals, objectives, and critical factors.
Learn more about management information system on:
https://brainly.com/question/14688347
#SPJ4
Which value dimension is most important? cost quality delivery agility innovation it depends
When it comes to the value dimensions, the one that is most important is none of them as It Depends.
Which is the most important value dimension?Value dimensions don't have one that is the most important as they are important in different ways. The most important value dimension depends on the company in question.
One company might need to invest more in quality as opposed to delivery while another company would need to focus on delivery at the expense of agility. The most important dimension therefore depends on the company.
Find out more on value dimensions at https://brainly.com/question/13629750
#SPJ1
attackers have taken over a site commonly used by an enterprise's leadership team to order new raw materials. the site is also visited by leadership at several other enterprises, so taking this site will allow for attacks on many organizations.
Attackers have taken over a site normally used by an enterprise's management group to order new uncooked substances. the web page is also visited by way of leadership at numerous different companies, so taking this web site will permit for assaults on many agencies Watering hole attack.
Competitors are dangerous actors who launch attacks against an opponent's device to steal labeled records like agency research to client lists. Neglecting to put in protection patch updates for any software program to your gadget which you run frequently can result in long-time period contamination.
Phishing Emails with the resource of an extended manner the maximum not unusual approach for hackers and kingdom-backed hacking businesses to unfold malware is through phishing emails. Attackers must emerge as exceptionally skilled at crafting emails that trick personnel into clicking on links or downloading a record that incorporates malicious code.
Learn more about Attackers here:-https://brainly.com/question/27319851
#SPJ4
Once a supplier relationship has been established, purchases of the straight rebuy variety will most likely be transacted by?
Once a supplier relationship has been established, purchases of the straight rebuy variety will most likely be transacted by a meeting with all buying center members.
This is further explained below.
What is supplier relationship?Generally, The phrase "supplier relationship management" (SRM) refers to the process of systematically assessing the suppliers that provide a company with its raw materials, finished products, and support staff.
In conclusion, When a connection with a supplier has been formed, it is probable that transactions involving purchases of the straight rebuy sort will be conducted via a meeting with all of the members of the purchasing center.
Read more about supplier relationships
https://brainly.com/question/13993908
#SPJ4
What type of decision is the following: how many temporary employees do we need to hire for cyber monday?
The decision type is Operational Decision
The operational Decision type of decision is how many temporary employees we need to hire for Cyber Monday
This is further explained below.
What is an Operational Decision?Generally, Choices that pertain to operations are ones that are subject to more frequent modification as a direct result of the current external and internal circumstances.
In most cases, the effects of these choices are short-lived, lasting little more than a year or perhaps a day at the very longest.
Just what does it imply to have a job that is considered to be temporary?Temporary employment refers to a variety of work situations in which employees are engaged for only a predetermined amount of time.
Some examples of temporary employment include fixed-term employment, task- or project-based agreements, seasonal or casual work, and day labor, among other types of work.
In conclusion, The number of temporary workers that we need to recruit for Cyber Monday is an example of the sort of choice known as an operational decision.
Read more about Operational Decision
https://brainly.com/question/14682671
#SPJ1
ralph started farming 45 years ago on 200 acres of land. over the years, he inherited land from relatives and bought some acreage as well. ralph now farms 2,300 acres with his son, wayne. ready to retire, ralph will pass the operation to his son, and wayne will inherit the land and equipment when ralph dies. this is an example of the in a capitalist system.
Answer:
right to private property
Explanation:
A country can have a(n) ______ with a trading partner in the production of both goods, but it cannot have a(n) ___________ in producing both goods.
A country could have a(n) absolute advantage with a trading associate in the production of each item, but it cannot have a(n)comparative advantage in generating both items.
Production is the method of turning uncooked materials or inputs into completed goods or merchandise in a manufacturing manner. In other words, it means the creation of something from fundamental inputs.
Production is the technique of creating, harvesting, or creating something or the quantity of something that becomes made or harvested. An example of manufacturing is the introduction of furnishings. An example of production is harvesting corn to devour. An instance of production is the amount of corn produced. noun. There are three not unusual forms of basic production systems: the batch device, the continuous system, and the venture system. in the batch gadget, preferred-purpose devices and techniques are used to supply small quantities of output (items or services) with specifications that modify substantially from one batch to the following.
Learn more about Production here:
https://brainly.com/question/26460726
#SPJ4
which of the international operations strategies uses import/export or licensing of existing products? part 2 a. transnational strategy b. global strategy c. multidomestic strategy d. international strategy e. worldwide strategy
International strategy is the international operations strategies that uses import/export or licensing of existing products.
What is meant by international strategy?The term international sttaretgy has to do with all of the strategies that are used for the creation of values through the transferring of core competencies in such a way that they would be transferred to the international market scene where there are no competencies from the existing competitors.
Hence we can say that International strategy is the international operations strategies that uses import/export or licensing of existing products.
Read more on International strategy here: https://brainly.com/question/18597437
#SPJ1
a business segment should only be dropped if a company can avoid more in fixed costs than it gives up in
A business segment should only be dropped if a company can avoid more in fixed costs than it gives up in contribution margin
The contribution margin is the sum of money needed by a company to pay its variable expenditures, cover its fixed costs, and contribute to net profit or loss. Additionally, it assesses if a product is making enough money to cover its fixed costs and calculates its profit margin. It is possible to determine the contribution margin in terms of money, units, or percentage.
The costs that remain constant are called fixed costs. These costs can change, but they generally remain the same. Rent for a building, insurance, salary, and utilities are a few examples of fixed costs (that are not directly related to production).
To learn more about contribution margin click here:
https://brainly.com/question/15186113
#SPJ4
Business forecasting is the process of using _____________, _____________, ____________, and experience to make predictions and respond to various business needs.
Business forecasting is the process of using analytics data insight and experience to make predictions and respond to various business needs.
Business forecasting refers to the method of predicting future market situations through the use of business intelligence tools and forecasting strategies to research historic records. commercial enterprise forecasting may be either qualitative or quantitative.
Forecasting is the technique of making predictions based totally on past and gift facts. Later those may be in comparison resolved towards what occurs. as an example, an enterprise may estimate their revenue inside the next year and then examine it in opposition to the real results. Prediction is a similar, however greater general time period. The cause of enterprise forecasting is to expand better techniques based on these knowledgeable predictions.
Learn more about Business forecasting here:-https://brainly.com/question/4941976
#SPJ4
the dominican republic and nicaragua both produce coffee and rum. the dominican republic can produce 35,000 tons of coffee per year or 7,000 barrels of rum. nicaragua can produce 18,000 tons of coffee per year or 3,000 barrels of rum. a. suppose the dominican republic and nicaragua sign a trade agreement in which each country would specialize in the production of either coffee or rum.
Agreements formed between two or more nations regarding imports/exports of products are considered as Trade Agreements.
Dominican Republic specializes in Rum
Nicaragua specializes in Coffee
An extensive tax, tariff, and trade treaty known as a trade agreement (sometimes known as a trade pact) frequently includes investment guarantees. It exists when two or more nations come to an agreement on conditions that facilitate trade between them.
An agreement for trade, commerce, transit, or investment between two or more nations is referred to as a trade agreement. They mainly entail concessions that are advantageous to both parties.
There are various different kinds of trade agreements, depending on the conditions and concessions agreed upon by the involved parties.
Free Trade Accord
Preferred Trade Arrangement
Agreement for a Comprehensive Economic Partnership
Framework agreement for the Comprehensive Economic Cooperation Agreement
Early Harvest Initiative
Your question is incomplete. Kindly find the missing content below:
Which country should specialize in coffee?
Which country should specialize in rum?
Learn more about Trade Agreements here
https://brainly.com/question/27190730
#SPJ4
The element of the audit planning process most likely to be agreed upon with the client before implementation of the audit strategy is the determination of the?
The element of the audit planning process most likely to be agreed upon with the client before implementation of the audit strategy is the determination of the A. Schedules and analyses to be prepared by the client's staff.
What does audit mean?The auditor plans to carry out the audit in an effective and timely manner and has developed a broad strategy and comprehensive approach for the anticipated nature, timing, and scope of the audit.
Schedules and analyses to be generated by the client's staff, however, would obviously have to involve the client since the client will be generating the schedules. The other replies involve judgment by the auditor solely, and as a result, the decision process only involves the auditor.
Therefore, the correct option is A.
Learn more about audit in:
https://brainly.com/question/14541181
#SPJ1
The element of the audit planning process most likely to be agreed upon with the client before implementation of the audit strategy is the determination of the:
a. Schedules and analyses to be prepared by the client's staff.
b. Methods of statistical sampling to be used in confirming accounts receivable.
c. Pending legal matters to be included in the inquiry of the client's attorney.
d. Evidence to be gathered to provide a sufficient basis for the auditor's opinion
Item 6 angelena files as a head of household. in 2021, she reported $56,800 of taxable income, including a $16,000 qualified dividend. what is her gross tax liability?
The gross tax liability is $5034.
Tax liability is the total amount of tax owed in a given period, by individuals and organizations, to federal, state, and local governments. For businesses, tax liabilities are short-term liabilities recorded on a balance sheet and paid within a year.
$5,034
$44,300 is taxed at ordinary rates of $5,034
(Up to $14,100 - 10%, $14,101 to $53,700 - 12%)
$10,000 is taxed at 0% $0
(Head of the household have a 0% tax rate on qualified dividend up to an ordinary income of $53,600)
Total $5,034
Learn more about Tax liability here
https://brainly.com/question/25641320
#SPJ4
in terms of revenues and profits, the corporation is by far the most important form of business organization in the united states.
The corporation is by far the most significant type of commercial organization in the United States in terms of revenues and profits.
Thus, this statement is True.
Why are revenue and profits significant?The total amount manufacturers receive after selling a product is known as revenue. Profit is the sum that manufacturers take home after deducting their costs of production.
Although revenue is an important business metric and something to be proud of, you can't operate a company only on it. Profit is what keeps your cash flow strong and your business operating for years to come. Revenues and fewer expenses are the company's profits. A company's ability to make a profit determines whether it can obtain bank financing, draw in investors to finance its operations and expand. Without making a profit, businesses cannot stay in operation.
For more information about revenue and profits refer to the link:
https://brainly.com/question/22737091
#SPJ4
a grocery store manager monitors local weather reports to determine if the store will need to stock extra bread, milk, and eggs prior to a winter storm.
The grocery store manager monitors local weather reports to determine if the store will need to stock extra bread, milk, and eggs prior to a winter storm informational
Management is the pastime of walking and monitoring all operations in a shop. Its essential duties include operating with personnel, developing painting schedules, speaking with providers, and coping with client complaints.
Store manager can be taken into consideration as a terrific profession with excellent pay relying on experience. becoming a shop manager provides the possibility to be around a number of extraordinary people even operating in a fast-paced environment. The career can require forty-five-50 work hours in keeping with the week, plus a few nighttime and weekend paintings.
Store management is the activity of running and monitoring all operations in a shop. Its principal obligations encompass working with personnel, growing work schedules, speaking with suppliers, and handling purchaser proceedings.
Learn more about Store management here:
https://brainly.com/question/27051811
#SPJ4
The gross domestic product includes? i consumer expenditures ii government expenditures iii fixed investment a i and ii only b ii and iii only c iii only d i, ii, iii
The gross domestic product includes consumer expenditures and government expenditures.
A consumer is the recipient of an amazing, carrier, product or an idea - received from a dealer, vendor, or supplier through a monetary transaction or trade for money or some different valuable consideration
A purchaser is a person or business that purchases another employer's goods or offerings. customers are crucial due to the fact they drive revenues; without them, agencies can't live on.
The definition of a consumer is someone who buys services or products from a store, eating place or different retail supplier.
Learn more about consumer here:brainly.com/question/20812603
#SPJ4
During an is audit, which is the best method for an is auditor to evaluate the implementation of segregation of duties within an it department?
Discussing the implementation of segregation of obligations with the IT managers is the quality way to determine how duties are assigned within the department.
Auditing the IT function and SOD The audit application must encompass A assessment of the facts security policy and process.
Segregation of responsibilities (SOD) is a constructing block of sustainable threat management SOD is properly implemented inside your own agency, as well as ours.
The act or technique of segregating the nation of being segregated the separation or isolation of a race, class, or ethnic organization by using enforced or voluntary house in a confined vicinity, with the aid of obstacles to social sex, with the aid of separate instructional facilities, or by way of different discriminatory approach.
Segregation is the exercise of requiring separate housing, education, and different offerings for humans of coloration. Segregation turned into made law in several instances in the 18th- and 19th-century USA as a few believed that Black and white human beings were incapable of coexisting.
Learn more about Segregation here:-https://brainly.com/question/2161501
#SPJ4
If supply and demand shift simultaneously, the equilibrium price __________________.
If supply and call for shift concurrently, the equilibrium fee OR amount moves within the same route, then the equilibrium fee or amount genuinely acts in that direction.
Equilibrium is the combination of economic variables (normally price and quantity) toward which everyday monetary tactics, such as supply and demand, pressure the financial system. The term financial equilibrium can also be carried out to any quantity of variables along with interest rates or mixture intake spending. monetary equilibrium is a situation in which financial forces consisting of delivering and calling for are balanced and in the absence of external influences the values of economic variables will not trade.
Monetary marketplace equilibrium happens when the levels of delivery and demand align, creating ideal market situations for both buyers and dealers. The sorts of monetary equilibrium encompass microeconomic and macroeconomic. In microeconomics, delivery and demand between consumers and sellers are balanced.
Learn more about equilibrium here:
https://brainly.com/question/517289
#SPJ4
If a company was looking to set up a new distribution center, how could it leverage people analytics to help decide on the location?
If a company was looking to set up a new distribution center, it could leverage people analytics to help decide on the location as Data on the personnel in that region who are available to work at the distribution centre could be obtained through people analytics.
More about people analytics:
People analytics is a strategy for evaluating all people processes, functions, difficulties, and opportunities at work using a comprehensive data-driven and goal-focused approach in order to improve these systems and achieve long-term corporate success.
People analytics is the way of evaluating all people processes, functions, issues, and opportunities at work to improve these systems and achieve long-term corporate success. It is thoroughly data-driven and goal-focused.
Learn more about People analytics here:
https://brainly.com/question/14370999
#SPJ4
for each example, determine how the market for the good in bolded text will respond to the described change.
The following is how the market for the good will respond to the mentioned change
a. decrease in the quantity demanded
b. Quantity demanded rises
c. Demand for a given quantity falls.
d. The amount demanded rises
e. Demand for a certain quantity rises
What is demand and supply?
Supply and demand in economics refers to the link between the amount of a good or service that producers want to sell at various prices and the amount that customers want to buy. In economic theory, it serves as the main model for calculating prices. The price of a good is determined by the way supply and demand interact in a market.
The final price, sometimes referred to as the equilibrium price, represents a settlement between the sellers and buyers of the good. The quantity of a good that producers supply and consumers demand must be equal for a market to be in equilibrium.
to know about demand and supply
https://brainly.com/question/4804206
#SPJ4
Correct question
For each example, determine how the market for the good in bolded text will respond to the described change.
a. Due to increases in hay prices, an input for raising cattle, the price of a gallon of 2% milk increases from $2.98 to $3.25.
b. A company offers a coupon for $6 off the price of laser tag.
c. A sharp increase in the price of wood causes increases in prices for dressers and desks.
d. At a week‑long special at the grocery store, pork shoulder is on sale at $1.99/lb, down from $3.99/lb.
e. A website offers a buy‑one‑get‑one‑free special for digital music albums
the complete collection of a company’s accounts is called the ledger. (enter only one word per blank.)
The complete collection of a company’s accounts is called the general ledger.
What is the general ledger?The general ledger of a company is the financial record that houses the entire collection of all the accounts that a company has.
This means that is has accounts related to purchases, sales, and other transactions. It is the general journal that provides information for the making of a trial balance.
In conclusion, the book or record that contains the complete collection of a company’s accounts is the General Journal.
Find out more on general journals at https://brainly.com/question/5374416
#SPJ1
If a coconut is a normal good and the price of coconuts increases, then the movement that would take place in the model could be:________
If a coconut is a normal good and the price of coconuts increases, then the movement that would take place in the model could be B to A. Marketing is divided into two essential principles: attitude to behavior (A to B) and behavior to attitude (B to A).
A price is the amount of money or compensation paid by one party to another in exchange for products or services. In other cases, the manufacturing cost is referred to by a different term. However, if the good is "service," alternative names for this product are available. Production expenses, supply of the desired item, and demand for the product all influence the price of a good.
To learn more about good, click here.
https://brainly.com/question/12802278
#SPJ4