Answer:
their sales will not be affected by much
Explanation:
In a monopolistic competition such as this one, many producers sell products that are slightly different from each other and hence are not perfect substitutes. Therefore, if Zappateria does not advertise their shoes, in the long run, their sales will not be affected by much. That is because their competition is attracting customers to the market itself and customers will buy from Zappateria due to the differences in the product's specifications.
As the United States has opened up to trade, it has lost many of its low-skilled manufacturing jobs, but it has gained jobs in high-skilled industries, such as the software industry. Explain whether the United States as a whole has been made better off by trade.
Answer:
The United States has been made better off by trade. International trade benefits all countries, because the winners are more numerous than the losers.
While it is true that some manufacturing jobs have been lost due to globalization, it is also true that many more jobs have been gained, specially in the service sector, some of them being well better paid than previous manufacturing jobs.
The reason why all countries gain from international trade is that international trade allows each country to specialize in what they do best, something that is known as comparative advantage.
Answer: The United States is better off
Explanation: Although jobs have been lost in the import competing industries, demand for skilled labor has driven up wages for these workers. The United States is relatively inefficient.
Prepare the bank reconciliation for Sawyer Cup by determining the correct balances for both book and bank. Prepare any required journal entries.
1. Cash balance per bank 9136.
2. Cash balance per book 8490
3. July bank service charges not recorded by the depositor $25
4. Deposit in transit July31 $780
5. Error made by silver key in recording check 1156 to the utility company 245 instead of 345.
6. Outstanding check July 31 $1551.
Correct balances
Answer: Please see explanation column for answer
Explanation:A bank reconciliation is a document that compares records of the bank with a company's book account and corrects any discrepancies if any so as to ensure they are aligned. This helps to monitor and rule out fraud of any sort.
Bank reconciliation for Sawyer Cup for July
Ending Cash Balance from the Bank $9,136
add:
Deposit in transit + $780
Subtotal $9,916
Deduct:
Outstanding check - $1551
Adjusted Bank Balance $8,365
Ending Cash Balance from the Company's book $8,490
Deduct:
bank service charges -$25
Error made on check 1156 (345-245) -$100
Adjusted Book Balance $8,365
If Mikael decides to go out with his friends instead of study for his biology test, what is the opportunity cost?
Answer:
Studying his biology test
Explanation:
opportunity cost refers to the cost of the forgone alternative inorder to enjoy another service
"What is the four-firm concentration ratio for an industry where the top nine firms having following distribution of sales: 20%, 12%, 11%, 10%, 9%, 3%, 6%, 4%, and 3%
Answer:
53%
Explanation:
The computation of the four-firm concentration ratio for an industry is shown below:
= 20% + 12% + 11% + 10%
= 53%
We simply added the top four ratios so that the four firm concentration ratio could come
ANd, the other given percentage would be ignored as it shows the less distribution of sales as compares to the top one
Hence, the ratio is 53%
___ are the criteria the firm uses to screen credit applicants in order to determine which of its customers should be offered credit and how much.
Answer:
Credit standards
Explanation:
The credit standard refers to the guidelines that are issued by the organization which analyzed whether the borrower is eligible for the loan or not. It could be checked by his or her credit score that reflects the full picture of borrower credit history i.e borrower is paying the amount of loan within in the given time or not or he is a defaulter that helps in deciding whether to offer credit or not and by how much
If a firm's beta was calculated as 1.35 in a regression equation, a commonly-used adjustment technique would provide an adjusted beta of Group of answer choices zero or less. between 0.0 and 1.0. between 1.0 and 1.35. greater than 1.35.
Answer: between 1.0 and 1.35
Explanation:
The Market beta is 1 and for this reason all Betas will usually equal 1 on average because they will usually move towards 1.
This means that when adjusted, the Beta will move from it's current number towards 1 so when adjusted, the Beta will be between it's current figure and 1. In this case that is 1.35 so the beta will be between 1 and 1.35.
The formula however is;
Adjusted beta = 2/3(sample beta) + 1/3(1)
= 2/3(1.35) + 1/3
= 1.23
The adjusted figure is 1.23 which is between 1 and 1.35.
Coronado Industries developed the following data for the current year: Beginning work in process inventory $190000 Direct materials used 94000 Actual overhead 238000 Overhead applied 166000 Cost of goods manufactured 214000 Total manufacturing costs 570000 Coronado Industries's ending work in process inventory is
Answer:
Ending WIP= $546,000
Explanation:
Giving the following information:
Beginning work in process inventory $190,000
Cost of goods manufactured 214,000
Total manufacturing costs 570,000
To calculate the ending work in process, we need to use the following formula:
cost of goods manufactured= beginning WIP + direct materials + direct labor + allocated manufacturing overhead - Ending WIP
214,000= 190,000 + 570,000 - Ending WIP
Ending WIP= $546,000
A 3-year bond with 10% coupon rate and $1000 face value yields 8%. Assuming annual coupon payment, calculate the price of the bond. Group of answer choices
The group of answer choices are missing. Following is the complete question.
A 3-year bond with a 10% coupon rate and $1000 face value yield-to-maturity of 8%. Assuming annual coupon payments, calculate the price of the bond. Group of answer choices
A. $857.96
B. $951.96
C. $1000.00
D. $1051.54
Answer:
The answer is d. $1051.54
Explanation:
To calculate the price of the bond, we need to first calculate the coupon payment per period. The bonds are annual bonds so the coupon payment is per year.
Coupon Payment = 1000 * 0.10 = $100
Total periods = 3
The formula to calculate the price of the bonds today is attached.
Bond Price = 100 * [( 1 - (1+0.08)^-3) / 0.08] + 1000 / (1+0.08)^3
Bond Price = $1051.54
A large company is accused of gender discrimination in wages. The following model has been estimated from the company's human resource information.
In (WAGE) = 1.439 + .0834 EDU + .0512 EXPER + .1932 MALE
Where WAGE is hourly wage, EDU is years of education. EXPER is years of relevant experience, and MALE indicates the employee is male How much more do men at the firm earn, on average?
a) $1.21 per hour more than females
b) 19.32% more than females
c) $19.32 per hour
d) $19, 320 more per year than females^2
Answer: b) 19.32% more than females
Explanation:
According to the model for calculating how wages are paid to employees, there is a .1932 coefficient attached to being a male employee. This means that 0.1932 (19.32% ) is added to an employees salary if they are males. This simply means that males are getting paid 19.32% more than other employees in the company which is this case are females.
A retired married customer, age 73, has a portfolio that is invested in Blue Chip stocks and Treasury bonds that provides current income. The customer is concerned that he is paying a very high Federal and State combined income tax rate. An appropriate recommendation for this customer would be to diversify part of his portfolio into an investment in:
Answer:
The answer is Municipal bonds
Explanation:
Municipal bonds are securities(debt securities) issued by states, cities, counties etc. It is generally issued to fund capital project like construction of roads, schools etc.
Municipal bonds are generally valued for being exempt from federal, state or local taxes taxes. Hence, the reason why the customer should invest in this type of bond since the customer is being concerned about high tax that he has been paying.
Whipple Corp. just issued 260,000 bonds with a coupon rate of 5.90 percent paid semiannually that mature in 25 years. The bonds have a YTM of 6.34 percent and have a par value of $2,000. How much money was raised from the sale of the bonds
Answer:
Amount raised = $236,027.47
Explanation:
The value of the bond is the present value(PV) of the future cash receipts expected from the bond. The value is equal to present values of interest payment plus the redemption value (RV).
Value of Bond = PV of interest + PV of RV
The value of bond for Whipple Corp can be worked out as follows:
Step 1
PV of interest payments
Semi annul interest payment
= 5.6% × 2000 × 1/2 = 56
Semi-annual yield = 6.34%/2 = 3.17 % per six months
Total period to maturity (in months)
= (2 × 25) = 50 periods
PV of interest =
56 × (1- (1+0.0317)^(-50)/0.0317)= 1395.49
Step 2
PV of Redemption Value
= 2000 × (1.0317)^(-50)
= 420.105
Price of bond
= 1395.49 + 420.10
= $1815.60
The amount raised = price per bonds× Number of unit
= $1815.595× 260,000/2000= $236,027.47
Amount raised = $236,027.47
Oral Roberts Dental Supplies has annual sales of $5,625,000. 80% are on credit. The firm has $475,000 in accounts receivable. Compute the value of the average collection period.
Answer:
The answer is 38 days
Explanation:
The average collection period is the number of days it takes a company to convert its credit sales to cash
Average collection period = (account receivables/average credit sales) x 360 days
Credit sales = 80% of $5,625,000
=0.8 x $5,625,000
=$4,500,000.
Average collection period is therefore,
($475,000/$4,500,000) x 360 days
=0.10555556 x 360days
=38 days
Norred Corporation has provided the following information: Cost per Unit Direct materials Direct labor Variable manufacturing overhead Fixed manufacturing overhead Sales commissions Variable administrative expense Fixed selling and administrative expense 7.50 3.70 1.60 1.50 $ 045 Cost per Period 121,500 44,500 If 8,000 units are produced, the total amount of indirect manufacturing cost incurred is closest to: A) $120,800 B) $134,300 C) $12,800 D) $121,500
Answer:
$134,300
Explanation:
Total indirect manufacturing cost = (Unit Produced * Variable manufactured overhead) + Fixed manufacturing overhead
= (8,000 * 1.60) + 121,500
=12,800 + 121,150
=$134,300
Hencc, the total amount of indirect manufacturing cost is $134,300
Bonds with a face amount $1,000,000, are sold at 96. The entry to record the issuance is
A. Cash 1,000,000
Premium on Bonds Payable 40,000
Bonds Payable 960,000
B. Cash 960,000
Premium on Bonds Payable 40,000
Bonds Payable 1,000,000
C. Cash 960,000
Discount on Bonds Payable 40,000
Bonds Payable 1,000,000
D. Cash 960,000
Bonds Payable 960,000
Answer:
Option C is correct
Explanation:
The cash proceeds from the bond issuance is 96% of its face value i.e 96%*$1,000,000=$960,000
The discount on bonds payable=Face value-cash proceeds
The discount on bonds payable=$1,000,000-$960,000=$40,000
The appropriate entries would be to credit bonds payable with $1000,000 while cash and discount on bonds payable are debited with $960,000 and $40,000 respectively
Choose the most accurate statement: If these projects are mutually exclusive, which project should be chosen by the CEO of the firm if the CEO’s primary objective is to maximize shareholder value? Assume the opportunity cost of capital is 10% for both projects
Answer:
Project A is the better option than Project B.
Explanation:
The NPV of the project will decide which is the option with greater value to shareholders. As we can see that the NPV of Project A at 10% cost of capital is greater than the NPV of Project B at the same 10% cost of capital. So the best option here is Project A as is more in value than project B. Hence the CEO must select Project A.
Costs that are incurred in generating revenues during the period, but are not involved in the manufacturing process are referred to as Group of answer choices
The question is incomplete:
Costs that are incurred in generating revenues during the period, but are not involved in the manufacturing process are referred to as Group of answer choices
-Period costs
-Conversion costs
-Product costs
-Factory overhead costs
Answer:
Period costs
Explanation:
-Period costs are costs that can't be related to the production process but to a period of time and they help to earn profits and are recorded as an expense, for example, comissions and administrative expenses.
-Conversion costs is the amount of money that the company uses to transform the raw materials into finished goods.
-Product costs refer to all the costs incurred by a business to create a product.
-Factory overhead costs refers to the costs incurred by a business to create a product but that can't be related to the production process, for example, factory utilities and repairs.
According to this, the answer is that the costs that are incurred in generating revenues during the period, but are not involved in the manufacturing process are referred to as period costs because these are costs that help the company to earn money but that can't be traced to a specific stage of the production process.
Matt and Meg Comer are married and file a joint tax return. They do not have any children. Matt works as a history professor at a local university and earns a salary of $64,200. Meg works part-time at the same university. She earns $33,500 a year. The couple does not itemize deductions. Other than salary, the Comers’ only other source of income is from the disposition of various capital assets (mostly stocks). (Use the tax rate schedules,Dividends and Capital Gains Tax Rates.) (Round your final answers to the nearest whole dollar amount.)
Required:
What is the Comers’ tax liability for 2019 if they report the following capital gains and losses for the year?
Short-term capital gains $1,500
Short-term capital losses 0
Long-term capital gains 13,200
Long-term capital losses 10,100
Answer:
$8,588
Explanation:
income tax brackets 2019
tax rate income
10% $0 to $19,400
12% $19,401 to $78,950
total ordinary income = $64,200 + $33,500 + $1,500 = $99,200
taxable ordinary income = $99,200 - $24,400 = $74,800
tax liability = ($19,400 x 10%) + ($55,400 x 12%) = $1,940 + $6,648 = $8,588
long term capital gains = $13,200 - $10,100 = $3,100
since their total taxable income is below $78,750, their long term capital gains tax rate is 0.
total tax liability = $8,588
Borchardt Corporation has provided the following data concerning last month’s operations. Direct materials $ 29,000 Direct labor $ 58,000 Manufacturing overhead applied to Work in Process $ 82,000 Beginning Ending Work in process inventory $ 66,000 $ 57,000 How much is the cost of goods manufactured for the month on the Schedule of Cost of Goods Manufactured?
Answer: $178,000
Explanation:
The following information can be derived from the question:
We have to first calculate the total manufacturing cost. This will be:
Direct material 29000
Add: Direct labor 58000
Add: manufacturing overhead 82000
Then the manufacturing cost will be:
= 29000 + 58000 + 82000
= 169000
We then add the beginning work in progress and then subtract the ending work in progress. This will be:
Manufacturing cost = 169000
Add: Beginning WIP = 66000
Less: Ending WIP = 57000
= 169000 + 66000 - 57000
= $178,000
Zen Inc. manufactures two types of products, the G.1 and the T.1 models. The manufacturing process consists of two principal departments: production and assembly. The production department has 58 skilled workers, each of whom works 7 hours per day. The assembly department has 25 workers, who also work a 7-hour shift. On an average, to produce a G.1 model, Zen Inc. requires 3.5 labor hours for production and 2 labor hours for assembly. The T.1 model requires 4 labor hours for production and 1.5 labor hours in assembly. The company anticipates selling at least 1.5 times as many T.1 models as G.1 models. The company operates five days per week and makes a net profit of $130 on the G.1 model, and $150 on the T.1 model. Zen Inc. wants to determine how many of each model should be produced on a weekly basis to maximize net profit. Formulate the problem.Let the number of G.1 product produced each week be G.Let the number of T.1 product produced each week be T.Formulate the problem.MaxabG +Spell checkTsubject toSpell checkG +Spell checkT ?Spell check(production labor constraint)Spell checkG +Spell checkT ?Spell check(assembly labor constraint)T ?Spell checkG (constraint reflecting demand)G, T ?Spell check(non-negativity conditions)
Explanation:
Below is the problem formulation:
Workers:
Production dept. — 58
Assembly dept. — 25
Available work hours each day for each employee per Department:
Production dept. — 7
Assembly dept. — 7
Average Required Labor Hours per Model:
G.1— Production 3.5; Assembly 2
T.1— Production 4; Assembly 1.5
Net Profit per Model
G.1— $130
T.1— $150
Constraints:
For Labor Hours:
Production
i) 3.5G ≤ 7
ii) 4T≤ 7
Assembly
i) 2G ≤ 7
ii) 1.5T ≤ 7
Objective function: Max Z= 130G+ 150T
Winkin contributes property with a value of $45,000 and Blinkin contributes property with a value of $90,000 to form Boat Corp in exchange for 25 and 50 shares of Boat, respectively. Which shareholder qualifies for Section 351 deferral of any gain or loss
Answer:
Winkin, with 25 shares of Boat Corporation, qualifies for Section 351 deferral of any gain or loss.
Explanation:
IRC Section 351 has this major requirement; it only applies to the exchange of property for voting stock in the corporation. If any shareholder involved in the transaction receives equity for something other than voting stock, e.g. services; the transaction may not qualify for tax deferral.
Consider the following cash flows: Year Cash Flow 2 $ 22,200 3 40,200 5 58,200 Assume an interest rate of 9 percent per year. a. If today is Year 0, what is the future value of the cash flows five years from now?
Answer:
Total FV= $134,711.26
Explanation:
Giving the following information:
Cash Flow:
Cf2= $22,200
Cf3= $40,200
Cf5= $58,200
Interest rate= 9 percent per year.
To calculate the future value, we need to use the following formula on each cash flow:
FV= PV*(1+i)^n
Cf2= 22,200*(1.09^3)= 28,749.64
Cf3= 40,200*(1.09^2)= 47,761.62
Cf5= 58,200
Total FV= $134,711.26
A financial concept known as "face value" refers to a security's nominal or monetary value as indicated by its issuer. The Total Face Value is $134,711.26.
The given data is:
Cash Flow:
Cf2= $22,200
Cf3= $40,200
Cf5= $58,200
Interest rate= 9 percent per year.
The face value will be calculated as:
FV= PV*(1+i)^n
Cf2= 22,200*(1.09^3)= 28,749.64
Cf3= 40,200*(1.09^2)= 47,761.62
Cf5= 58,200
Total FV= $134,711.26.
The initial cost of the stock, as stated on the certificate, serves as the face value for stocks. In the case of bonds, it refers to the sum that is normally paid in $1,000 increments to the holder at maturity. Bond face values are frequently referred to as "par value" or just "par."
The term "face value" refers to the nominal or monetary worth of a security; the issuing party declares the face value. A stock's face value is its initial purchase price, as stated on its certificate; a bond's face value is the amount that must be paid to the bond's issuer.
Learn more about face value here:
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What program is used to determine employee's bonuses? A. time series B. exponential smoothing C. regression D. weighted moving averages
Answer:
The correct answer is: D. weighted moving averages
Explanation:
To determine employee bonuses, companies use the weighted moving average program.
This is an indicator that works using a calculation that ensures greater relevance to recent data, that is, there is a weighting factor that ensures that weights are differentiated, since it uses the multiplication of factors to differentiate weights in relation to different data.
So it is the ideal program for averaging employee bonuses.
1 points eBookPrintReferences Check my work Check My Work button is now disabled3Item 2Item 2 1 points Today, your dream car costs $65,500. You feel that the price of the car will increase at an annual rate 2.4 percent. If you plan to wait 4 years to buy the car, how much will it cost at that time
Answer:
$72,018.011
Explanation:
Calculation of how much will it cost at that time you plan to wait 4 years to buy the car
Using this formula
Cost =Car cost (Increase in price)^ Number of years
Let plug in the formula
Cost =$65,500(1+0.024)^4
Cost =$65,500(1.024)^4
Cost =$65,500(1.09951162)
Cost =$72,018.011
Therefore the amount that it will cost at that time you plan to wait 4 years to buy the car will be $72,018.011
A machine that cost $36,000 and on which $26,500 of depreciation had been recorded was disposed of for $10,200. Indicate whether a gain or loss should be recorded, and for what amount.
Answer:
The Gain of $700.
Explanation:
For the computation of gain or loss first we need to find out the book value which is shown below:-
Book value = Purchase cost - Accumulated Depreciation
= $36,000 - $26,500 = $9500
Gain or Loss = Selling Price - Book Value
= $10,200 - $9500
= $700
So, there is a
The Gain of $700 as selling price is more than the book value
Therefore for computing the gain or loss we simply applied the above formula.
The level of CQ among senior leaders is the most consistent variable linked to whether or not an organization functions in the world with a track record of dignity, respect, and social responsibility.
A. True
B. False
In its 2014 annual report, Campbell Soup Company reports beginning-of-the-year total assets of $8,113 million, end-of-the-year total assets of $8,323 million, total sales of $8,268 million, and net income of $807 million.
a. Compute Campbell?s asset turnover.
b. Compute Campbell?s profit margin on the sale.
c. Compute Campbell?s return on an asset using (1) asset turnover and profit margin and (2) net income.
Return on assets
(1) Assets turnover and profit margin _____%
(2) Net income _____%
Answer:
a. The asset turnover is $1.0061
b. The profit margin on the sale is 9.7605%
c. The return on an asset is 9.82%
Explanation:
a. In order to calculate the company asset turnover we would have to make the following calculation:
asset turnover=Turnover/Average operating assets
According to the given data:
Turnover=$8,268 million
Average operating assets=beginning-of-the-year total assets+nd-of-the-year total assets
Average operating assets=$8,113 million+$8,323 million
Average operating assets=$8,218 million
Therefore, asset turnover=$8,268 million/$8,218 million
asset turnover=$1.0061
b. In order to calculate the company profit margin on the sale we would have to make the following calculation:
profit margin on the sale=Net income*100/sales
Net income=$807 million
Therefore, profit margin on the sale=$807 million*100/$8,268 million
profit margin on the sale=9.7605%
c. In order to calculate the company return on an asset we would have to make the following calculation:
return on an asset=Assets turnover*Profit margin
return on an asset=$1.0061*9.7605%
return on an asset=9.82%
Understanding cost behavior depends on all of the following except a.intangibles. b.relevant range. c.activity drivers. d.activity bases.
Answer:
a.intangibles.
Explanation:
The cost behavior refers to behavior in which it shows the changes in the cost if there is a change in any kind of activity
It can be based on given range, activity drivers, activity bases but not with the intangible cases as intangible refers to the asset which cannot be visible or even touched like intellectual properties i.e copyrights, patents, goodwill, etc
Hence, the correct option is a.
Find the amount of the payment to be made into a sinking fund so that enough will be present to accumulate the following amount. Payments are made at the end of each period. $95 comma 00095,000; money earns 66% compounded semiannually for 2 and one half2 1 2 years
Answer:
PV= $81,947.83
Explanation:
Giving the following information:
Future value= $95,000
Interest rate= 0.03
Number of periods= 5
To calculate the initial investment required to reach the objective, we need to use the following formula:
PV= FV/(1+i)^n
PV= 95,000/(1.03^5)
PV= $81,947.83
The production department in a process manufacturing system completed 94,000 units of product and transferred them to finished goods during a recent period. Of these units, 28,200 were in process at the beginning of the period. The other 65,800 units were started and completed during the period. At period-end, 16,700 units were in process. Compute the departments equivalent units of production with repect to direct materials under each of three seperate assumptions, using the weighted average method, then using the FIFO method
a. All direct materials are added to products when processing begins.
b. Beginning inventory is 40% complete to materials and conversion costs. Ending inventory is 75% complete as to materials and conversion costs
c. Beginning inventory is 60% complete as to materials and 40% complete as to conversion costs. Ending Inventory is 30% complete as to materials and 60% complete to conversion costs.
Answer:
Weighted Average Method.
a. 110,700 units
b. 106,525 units
c. 82,090 units
FIFO
a. 85,500 units
b. 95,245 units
c. 99,010 units
Explanation:
Calculation of equivalent units of production with respect to direct materials.
FIFO.
a. All direct materials are added to products when processing begins.
Materials
To finish Opening Work in Process 0
Started and Completed 65,800
Closing Work in process (16,700 × 100%) 16,700
Total equivalent units of production 85,500
b. Beginning inventory is 40% complete to materials and conversion costs. Ending inventory is 75% complete as to materials and conversion costs
Materials
To finish Opening Work in Process (28,200 × 60%) 16,920
Started and Completed (65,800 × 100%) 65,800
Closing Work in process (16,700 × 75%) 12,525
Total equivalent units of production 95,245
c. Beginning inventory is 60% complete as to materials and 40% complete as to conversion costs. Ending Inventory is 30% complete as to materials and 60% complete to conversion costs.
Materials
To finish Opening Work in Process (28,200 × 40%) 11,280
Started and Completed (65,800 × 100%) 65,800
Closing Work in process (16,700 × 30%) 5,010
Total equivalent units of production 82,090
Weighted Average Method.
a. All direct materials are added to products when processing begins.
Materials
Completed and transferred (94,000 × 100%) 94,000
Closing Work in process (16,700 × 100%) 16,700
Total equivalent units of production 110,700
b. Beginning inventory is 40% complete to materials and conversion costs. Ending inventory is 75% complete as to materials and conversion costs
Materials
Completed and transferred (94,000 × 100%) 94,000
Closing Work in process (16,700 × 75%) 12,525
Total equivalent units of production 106,525
c. Beginning inventory is 60% complete as to materials and 40% complete as to conversion costs. Ending Inventory is 30% complete as to materials and 60% complete to conversion costs.
Materials
Completed and transferred (94,000 × 100%) 94,000
Closing Work in process (16,700 × 30%) 5,010
Total equivalent units of production 99,010
Why would the top-level managers at Nutzandboltz, a hardware company, decide to invest free cash flow in product lines such as clothing or toys
Answer:
"To increase the level of diversification" is the right answer.
Explanation:
The justification why and how the high-level managers from Nutzandboltz, a technology firm, intend to invest earnings per share throughout market segments including such merchandise as well as accessories, would be to maximize the long term growth ratio. The other explanation may be to minimize the chances of their jobs.So that the above is the correct answer.