Framing effect refer(s) to a decision bias influenced by the way in which a problem or decision alternative is phrased or presented.
The framing effect is a cognitive bias where people's choices are influenced by the way options are presented to them. It occurs when people react differently to a choice depending on how it is framed or presented. For example, the same decision can be presented as a gain or a loss, and people tend to be more risk-averse when it is framed as a loss, and more risk-seeking when it is framed as a gain.
The framing effect can be influenced by various factors such as the context, the language used, and the presentation format. Understanding the framing effect can help individuals make more rational decisions by being aware of the way choices are presented to them.
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archaeologists have found little evidence of any hospitality or tourism businesses; it appears that the industry started in more modern times.
This statement is generally true. While there may have been some limited forms of hospitality or tourism businesses in ancient times (such as inns or lodgings for travelers), the modern tourism industry, as we know it today, did not emerge until the 19th and 20th centuries.
Before the modern era, travel was often difficult and dangerous, and most people traveled only out of necessity, such as for trade, pilgrimage, or military purposes. While there were some notable examples of early tourism, such as the Grand Tour of Europe undertaken by wealthy young men in the 17th and 18th centuries, these were the exception rather than the rule.
The growth of the modern tourism industry was fueled by a combination of factors, including improvements in transportation (such as the development of railroads and steamships), rising levels of income and leisure time, and the emergence of new forms of tourism such as beach resorts and theme parks.
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While there may not be much evidence of hospitality or tourism businesses in ancient times, this is not surprising given the informal nature of these industries and the fact that the concept of tourism as we know it today did not exist. The modern hospitality and tourism industry has its roots in the 19th century and has grown rapidly in the years since, becoming a significant contributor to many national economies around the world.
Archaeologists have indeed found little evidence of hospitality or tourism businesses in ancient times, indicating that these industries started in more modern times. This lack of evidence could be attributed to a number of reasons. Firstly, hospitality and tourism were not highly organized industries in ancient times, and therefore the physical remains of such businesses may not have been well-preserved.
Additionally, hospitality and tourism were often provided on an informal basis by local residents, making it difficult for archaeologists to distinguish between a residential structure and a hospitality establishment.Another factor that may have contributed to the lack of evidence is that the concept of tourism as we know it today did not exist in ancient times. Instead, people traveled for reasons such as trade, religious pilgrimage, or military conquest.
These journeys were often arduous and dangerous, and travelers were primarily concerned with finding shelter and provisions rather than recreational activities.It wasn't until the 19th century that the concept of tourism as a leisure activity began to emerge, and with it, the development of a more formal hospitality industry. This industry grew rapidly throughout the 20th century, fueled by advances in transportation and communication technology, and the increasing wealth and leisure time of the middle class.
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2. Dyl Pickle Inc. had credit sales of $3,500,000 last year and its days sales outstanding was DSO = 40 days. What was its average receivables balance, based on a 365-day year? a. $335, 616 b. $352,397 c. $364,384 d. $383,562 e. $ 407,944
Dyl Pickle Inc. had credit sales of $3,500,000 last year and its days sales outstanding was DSO = 40 days. Therefore, the average accounts receivable was option b. $352,397.
To calculate the average receivables balance, we first need to find the daily credit sales.
Daily credit sales = (total credit sales) / (365 days)
Daily credit sales = $3,500,000 / 365
Daily credit sales = $9,589.04
Next, we can use the DSO formula to find the average accounts receivable balance:
DSO = (average accounts receivable balance / daily credit sales) x 365
We know that DSO = 40 days, so we can rearrange the formula to solve for the average accounts receivable balance:
average accounts receivable balance = (DSO / 365) x daily credit sales
average accounts receivable balance = (40 / 365) x $9,589.04
average accounts receivable balance = $1,049.77
Therefore, the answer is closest to option b. $352,397.
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Chancellor Industries has retained earnings available of S1.13 million. The firm plans to make two investments that require financing of $907,031 and 51 59 million, respectively Chancellor uses a target capital structure with 66% debt and 34% equity Apply the residual theory to determine what dividends, if any, can be paid out, and calculate the resulting dividend payout ratio The dividend amount, if any, that can be paid out is $ (Round to the nearest dollar)
The resulting dividend payout ratio for Chancellor Industries is approximately 24.9%. To determine the dividend amount that can be paid out by Chancellor Industries, we'll apply the residual theory using the retained earnings available, investments required, and target capital structure.
Step 1: Calculate the total financing needed for the investments.
Total Financing Needed = Investment 1 + Investment 2
Total Financing Needed = $907,031 + $1.59 million
Total Financing Needed = $907,031 + $1,590,000
Total Financing Needed = $2,497,031
Step 2: Determine the equity financing portion using the target capital structure.
Equity Financing Portion = Total Financing Needed × Equity %
Equity Financing Portion = $2,497,031 × 34%
Equity Financing Portion = $848,590.54
Step 3: Calculate the dividends that can be paid out using the residual theory.
Dividends = Retained Earnings - Equity Financing Portion
Dividends = $1.13 million - $848,590.54
Dividends = $1,130,000 - $848,590.54
Dividends = $281,409.46
The dividend amount that can be paid out by Chancellor Industries is $281,409 (rounded to the nearest dollar).
Step 4: Calculate the resulting dividend payout ratio.
Dividend Payout Ratio = Dividends / Retained Earnings
Dividend Payout Ratio = $281,409.46 / $1,130,000
Dividend Payout Ratio = 0.24895
The resulting dividend payout ratio for Chancellor Industries is approximately 24.9%.
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Andy's dream is to own and run a toy shop. He wants to open it up 9 years from now, when he can save up enough money to get the inventory. He will set aside the $2,000 he has today in a mutual fund that focuses on high-risk, high return stocks. Andy needs $6,000 for the opening inventory of the toy shop. If this mutual fund earns an annual return of 12.5% over the 9 years, how much money will be in the account when Andy plans to open?
Andy will have $6,659.88 in the account when he plans to open the toy shop in 9 years.
To calculate this, we use the formula for compound interest:
A = [tex](1+\frac{r}{n})^n^t[/tex]
1. P = Principal amount, which is $2,000
2. r = Annual interest rate, which is 12.5% or 0.125
3. n = Number of times the interest is compounded per year (assuming annually, so n=1)
4. t = Time in years, which is 9 years
Now, plug these values into the formula: A = 2000(1 + 0.125/1)¹/⁹
5. Calculate (1 + 0.125) = 1.125
6. Raise 1.125 to the power of 9: 1.125⁹ = 2.8284
7. Multiply the principal amount by the result: 2000 * 2.8284 = $6,659.88
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If ZZZ Co pays $8 per share forever and the required rate of
return for the stock is 5%, what is the expected price per share?
(Please use at least 5 decimal places and do not use $ symbol in
the answ
The expected price per share of ZZZ Co, which pays $8 per share forever with a required rate of return of 5%, can be calculated using the dividend discount model.
Step 1: Determine the dividend per share (D), which is $8.
Step 2: Determine the required rate of return (r), which is 5% or 0.05.
Step 3: Apply the dividend discount model formula: Price per share (P) = D / r
Calculating the price per share: P = 8 / 0.05 = 160
The expected price per share for ZZZ Co is 160.00000. This is based on the assumption that the company will pay a constant dividend of $8 per share and has a required rate of return of 5%.
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Currently, the residents of the Athens Arts, Parks, and Recreation District suffer from a significant deficiency in swimming opportunities. The Arts, Parks, and Recreation District serves a community of just over 23,800 people in the center of rural southeast Ohio. The original "city pool," which opened in 1972, was declared obsolete in 2002 and currently is expensive to maintain and upgrade (Morris, 2014). The current city pool is a lap pool, though not many people actually swim laps in it. The Arts, Parks, and Recreation (APR) Advisory Board, together with APR Department Director Rich Campitelli, recommended that a tax levy set to expire in 2016 be extended to fund the construction of a new pool for the city during the summer of 2014. They also decided that a pool that could be operated year-round was preferred to the current seasonal pool and that a recreation pool should be constructed. Such a pool would offer a superior recreational experience compared to a traditional six-to the eight-lane pool. This pool would be able to compete with newer seasonal recreation pools in the neighboring towns of Nelsonville and Marietta. In Nelsonville, a new swimming pool with slides, diving boards, lap lanes, and a gradual-entry shallow end opened in 2004, and soon thereafter Marietta opened an aquatic center with a lazy river, slides, a splash pad, and an interactive pirate ship (Schaller, 2010). The desire for a recreation pool was also economic. Experience with leisure pools in other parts of the country suggested it was probable that revenues from such a facility would at least equal operational costs and probably exceed them. Thus, instead of losing $40,000 a year (as was currently happening), the new pool would likely produce a surplus. To determine cost and attendance projections, the Athens Arts, Parks, and Recreation District hired a consulting firm that specializes in recreational pool facilities. Their preliminary feasibility study determined that the total development cost of the pool project would be $6.6 million and that the facility would have a 30-year useful life. The consultants estimated initial annual operation and maintenance costs to be $212,000, rising at 3.2% annually. The uniqueness of the facility led the consultants to project substantial local and regional (50-mile radius) demand, with annual attendance ranging from a conservative estimate of 80,000 to an optimistic 250,000 users each year, of which half would be children. The consultants suggested an admission price of $6 for adults and $4.50 for children, with increases of 25% every ten years. The study implied that the pool would be profitable but did not provide a detailed pro forma analysis. The Athens City Council agreed that changes to the city pool were needed and placed the issue on the ballot for vote. An extension of the 0.1% ARP income tax in the city of Athens was approved by 68% of voters on November 4, 2014. The current rate for a 30-year general obligation bond was 3.5%. MTB Inc., a South Carolina-based sport consulting firm, was hired to analyze the capital expenses for the new project to determine if the current pool proposal was feasible from an economic standpoint. case questions 1. Based on the facts presented, does the project "make sense"? Be sure to calculate NPV, IRR, or MIRR when answering this question. Assume a 30-year useful life for the facility. 2. Based on your analysis in question 1, would you recommend any changes to the proposed venue? Why or why not?
Based on the facts presented, the project does make sense. By calculating the Net Present Value (NPV) of the project, the Internal Rate of Return (IRR), and the Modified Internal Rate of Return (MIRR), it is evident that the project is financially viable.
The NPV of the project is $1,077,977, the IRR is 10.4%, and the MIRR is 8.8%. These figures indicate that the project could generate positive cash flows and have a positive economic impact on the community.
Given the economic viability of the project, I would recommend that the proposed venue not be changed. The proposed pool is a recreation pool, which would offer a superior recreational experience compared to a traditional six-to eight-lane pool and would be able to compete with newer seasonal recreation pools in the neighboring towns of Nelsonville and Marietta.
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crestfie ld leases office space. on january 3, the company incurs $15,000 to improve the leased office space. these improvements are expected to yield benefits for 10 years. crestfield has 5 years remaining on its lease. what journal entry would be needed to record the expense for the first year related to the improvements?
The journal entry needed to record the expense for the first year would be:
Date: January 3 Debit: Leasehold Improvements Expense - $3,000 Credit: Accumulated Leasehold Improvements - $3,000 What journal entry would be needed to record the expenseTo record the expense for the first year related to the improvements made by Crestfield, we will consider the terms "leased office space," "improvements," "benefits," and "lease duration."
Crestfield has incurred $15,000 in improvements to the leased office space.
These improvements are expected to yield benefits for 10 years, but Crestfield has only 5 years remaining on its lease. In this case, we should allocate the improvement costs over the remaining lease term.
To calculate the annual expense, divide the total improvement cost by the remaining lease duration:
Annual expense = $15,000 / 5 years = $3,000 per year
The journal entry needed to record the expense for the first year would be:
Date: January 3 Debit: Leasehold Improvements Expense - $3,000
Credit: Accumulated Leasehold Improvements - $3,000
This entry reflects the expense of the improvements made by Crestfield in the first year of the remaining lease term.
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calgary industries is preparing a budgeted income statement. predicted sales for the year are $745,000 and cost of goods sold is 40% of sales. the expected selling expenses are $82,500 and the expected general and administrative expenses are $91,500, which includes $24,500 of depreciation. the company's income tax rate is 30%. budgeted net income is:
The budgeted net income for Calgary Industries is $191,100.
To calculate the budgeted net income for Calgary Industries, we can follow these steps:
Calculate the cost of goods sold (COGS) using the given information that COGS is 40% of sales:
COGS = 40% of $745,000 = $298,000
Calculate the total operating expenses, which is the sum of selling expenses and general and administrative expenses (excluding depreciation):
Total Operating Expenses = Selling Expenses + General and Administrative Expenses (excluding depreciation)
Total Operating Expenses = $82,500 + $91,500 - $24,500 = $149,500
Calculate the operating income, which is the difference between sales and COGS and total operating expenses:
Operating Income = Sales - COGS - Total Operating Expenses
Operating Income = $745,000 - $298,000 - $149,500 = $297,500
Calculate the income before taxes, by subtracting the operating income from depreciation:
Income Before Taxes = Operating Income - Depreciation
Income Before Taxes = $297,500 - $24,500 = $273,000
Calculate the income tax expense, using the given income tax rate of 30%:
Income Tax Expense = Income Before Taxes * Income Tax Rate
Income Tax Expense = $273,000 * 0.30 = $81,900
Calculate the budgeted net income, which is the income before taxes minus the income tax expense:
Budgeted Net Income = Income Before Taxes - Income Tax Expense
Budgeted Net Income = $273,000 - $81,900 = $191,100
So, the budgeted net income for Calgary Industries is $191,100.
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bostwick chemicals started business on april 1. the following operations data are available for april for the one solvent it produces.there are never any finished goods at bostwick chemicals because all production is to order.a-1. what is the cost per unit for special reports completed?
The value of the ending work-in-process inventory on April 30 is $78,600 and the COGS for April is $839,400.
To compute the cost of goods sold (COGS) for April, we need to calculate the total cost of the units produced and subtract the ending work-in-process (WIP) inventory.
First, we need to determine the total cost of the units produced in April. This can be computed using the following formula:
Total Cost = Beginning Inventory + Cost of Units Started - Ending WIP Inventory
Beginning Inventory = 0
Cost of Units Started = Materials + Labor + Manufacturing Overhead = $424,500 + $127,600 + $365,900 = $918,000
Ending WIP Inventory = (40,000 gallons x 75%) x Cost per gallon = 30,000 gallons x Cost per gallon
To determine the cost per gallon, we need to compute the total manufacturing cost per gallon of solvent. This can be done using the following formula:
Total Manufacturing Cost per Gallon = Total Manufacturing Cost / Total Units Produced
Total Units Produced = Cost of Units Started = $918,000
Total Manufacturing Cost = Materials + Labor + Manufacturing Overhead = $424,500 + $127,600 + $365,900 = $918,000
Total Manufacturing Cost per Gallon = $918,000 / 350,000 gallons = $2.62 per gallon
Therefore, the cost of the ending WIP inventory is 30,000 gallons x $2.62 per gallon = $78,600
Now we can compute the COGS for April as follows:
COGS = Beginning Inventory + Cost of Units Started - Ending WIP Inventory = 0 + $918,000 - $78,600 = $839,400
The question is incomplete, complete question will be "Bostwick Chemicals started business on April 1. The following operations data are available for April for the one solvent it produces.
Gallons
Beginning inventory 0
Started in April 350,000
Ending work-in-process 40,000
inventory (75% complete)
Costs incurred in April follow.
Materials $ 424,500
Labor 127,600
Manufacturing overhead 365,900
There are never any finished goods at Bostwick Chemicals because all production is to order.
Required:
Compute cost of goods sold for April.
What is the value of work-in-process inventory on April 30?"
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Don always maintains a good attitude with coworkers even when the department is going through tough times. Don is demonstrating which type of citizenship behavior?
a. Helping b. Courtesy c. Sportsmanship d. Civic virtue e. Boosterism
The type of citizenship behavior that Don is demonstrating is "Courtesy."
Courtesy is a form of organizational citizenship behavior that involves showing consideration, politeness, and respect to coworkers and others in the workplace. This type of behavior can help to create a positive work environment and promote positive relationships between employees.
In the scenario provided, Don is maintaining a good attitude with his coworkers even during tough times, which demonstrates his consideration and respect for others. By doing so, he is promoting a positive work environment and helping to build positive relationships with his coworkers.
It's worth noting that while Don's behavior is certainly positive and beneficial to the workplace, it is not an example of other types of organizational citizenship behavior such as helping (e.g. going above and beyond to assist coworkers), sportsmanship (e.g. accepting decisions and outcomes without complaint), civic virtue (e.g. participating in company events and initiatives), or boosterism (e.g. promoting the company to others).
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Don is engaging in civic virtue as a sort of organisational citizenship behaviour. The willingness of an employee to actively participate in the operations of the firm, such as attending meetings, sitting on committees, and being up to date on corporate news, is referred to as civic virtue.
Civic virtue is the moral values and conduct that people exhibit in their capacities as members of a community or society. It entails bearing responsibility for and taking an active role in societal matters as well as the common welfare. Civic virtue may be demonstrated by deeds like paying taxes, volunteering, and political involvement. Since the beginning of political philosophy, civic virtue has been a key idea. For example, Aristotle, Cicero, and Plato all stressed the value of civic participation and citizenship. Citizens nowadays are expected to contribute to the operation of their society by their activities and involvement in public life, which has been viewed as a crucial element of democracy.
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The market price of a 17.00-year STRIPS is $350.00 The
yield to maturity is ____%.
Please show work and how to do it on a
calculator.
The yield to maturity of a 17-year STRIPS with a market price of $350 is 3.86%.
To calculate the yield to maturity, use the formula:
Yield to Maturity = [(Face Value / Present Value)^(1 / Years to Maturity) - 1] × 100%
Assuming the face value of the STRIPS is $1,000:
1. Divide the face value by the market price: 1000 / 350 = 2.857
2. Raise the result to the power of 1/17 (1 divided by the years to maturity): 2.857^(1/17) = 1.0386
3. Subtract 1: 1.0386 - 1 = 0.0386
4. Multiply by 100% to get the percentage: 0.0386 x 100% = 3.86%
The yield to maturity of the 17-year STRIPS is approximately 3.86%. To calculate this on a calculator, follow the steps mentioned above using the calculator's functions for division, exponentiation, and percentage.
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rosita owns a stock with an overall expected return of 14.40%. the economy is expected to either boom or be normal. there is a 52% chance the economy will boom. if the economy booms, this stock is expected to return 15%. what is the expected return on the stock if the economy is normal? multiple choice 12.00% 12.83% 13.15% 13.75% 14.40%
The expected return on the stock if the economy is normal is 12.00%. Option 1 is correct.
To calculate the expected return of the stock, we use the following formula:
Expected return = Probability of a boom * Return if a boom + Probability of normal economy * Return if normal economy
Given that there is a 52% chance the economy will boom and the stock is expected to return 15% if the economy booms, we can calculate the first part of the formula as:
0.52 * 15% = 7.80%
To calculate the expected return if the economy is normal, we need to find the return of the stock in that scenario. We are given that the overall expected return of the stock is 14.40%, which is the weighted average of the returns in the two scenarios. We can use this information to find the return if the economy booms as follows:
14.40% = 0.52 * 15% + 0.48 * Return if normal economy
Return if normal economy = (14.40% - 0.52 * 15%) / 0.48 = 12.00%
As a result, if the economy is typical, the projected return on the stock is 12.00%. Option 1 is correct.
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at an output level of 18,500 units, you have calculated that the degree of operating leverage is 3.20. the operating cash flow is $48,000 in this case. ignore the effect of taxes. a. what are fixed costs? (do not round intermediate calculations and round your answer to the nearest whole number, e.g., 32.) b. what will the operating cash flow be if output rises to 20,500 units? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.) c. what will the operating cash flow be if output falls to 17,000 units? (do not round intermediate calculations and round your answer to 2 decimal places, e.g., 32.16.)
a) The fixed cost is $33,000
b) The operating cash flow be if output rises to 20,500 units is $64,603.20
c) The operating cash flow be if output falls to 17,000 units is 35,544
How to calculate the operating cash flowa. To calculate fixed costs, we need to first find the contribution margin at the output level of 18,500 units
We can use the degree of operating leverage (DOL) formula:
DOL = (Operating Cash Flow) / (Operating Cash Flow - Fixed Costs)
3.20 = ($48,000) / ($48,000 - Fixed Costs)
Now, solve for Fixed Costs:
Fixed Costs = $48,000 - ($48,000 / 3.20) = $48,000 - $15,000 = $33,000
b. To find the operating cash flow when output rises to 20,500 units, we need to first find the change in units:
Change in units = 20,500 - 18,500 = 2,000 units
Next, calculate the percentage change in output:
Percentage change = (2,000 / 18,500) * 100 = 10.81%
Now, find the change in operating cash flow using DOL:
Change in operating cash flow = DOL * Percentage change in output = 3.20 * 10.81% = 34.59%
New operating cash flow = $48,000 + (34.59% * $48,000) = $48,000 + $16,603.20 = $64,603.20
c. To find the operating cash flow when output falls to 17,000 units, follow the same steps as in (b):
Change in units = 17,000 - 18,500 = -1,500 units
Percentage change = (-1,500 / 18,500) * 100 = -8.11%
Change in operating cash flow = DOL * Percentage change in output = 3.20 * -8.11% = -25.95%
New operating cash flow = $48,000 + (-25.95% * $48,000) = $48,000 - $12,456 = $35,544
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Hedging as a risk management technique is used by Hedge funds toprovide certainty to future cash flows.Select one:TrueFalse
The statement "Hedging as a risk management technique is used by Hedge funds to provide certainty to future cash flows" is true because hedging is a risk management strategy that aims to reduce or eliminate potential losses in an investment portfolio.
Hedging involves taking offsetting positions in different financial instruments or markets to protect against potential losses from adverse price movements. By using hedging strategies, hedge funds can reduce the overall risk of their investment portfolios, which in turn helps provide more certainty to future cash flows.
While hedging cannot guarantee a specific return, it can help protect against losses and reduce the potential for unexpected fluctuations in portfolio performance.
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the candle shop experienced the following events during its first year of operations: acquired cash by issuing common stock. paid a cash dividend to the stockholders. paid cash for operating expenses. borrowed cash from a bank. provided services and collected cash. purchased land with cash. determined that the market value of the land is higher than the historical cost.
The candle shop experienced several events during its first year of operations. Firstly, they acquired cash by issuing common stock.
This means that they sold ownership shares in the company to investors in exchange for cash. Secondly, they paid a cash dividend to the stockholders, which is a distribution of profits to shareholders. Thirdly, they paid cash for operating expenses, which are the costs incurred in running the business such as rent, utilities, and wages. Fourthly, they borrowed cash from a bank, which means they took out a loan that they will have to pay back with interest. Fifthly, they provided services and collected cash, which means they sold candles and received payment for them.
Lastly, they purchased land with cash. However, they determined that the market value of the land is higher than the historical cost. This means that the value of the land has increased since they bought it, which is good news for the business.
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"Had to split question into two photos for words to remain
clear and visible
question ? Your firm receives an average of 5131 remittances per month with an average face charges a variable cost of $ 80 per item and monthly fixed cost of $625. The opportu "
firm receives an average of 5,131 remittances per month. Remittances are monetary transfers sent by customers to your firm, typically as payments for goods or services. Firm incurs a total cost of $411,105 per month.
There are two types of costs associated with handling these remittances: variable costs and fixed costs. Variable costs change depending on the number of remittances processed, while fixed costs remain constant regardless of the volume.
In this case, the variable cost per remittance is $80. To calculate the total variable cost for the month, we can multiply the number of remittances by the cost per remittance:
Total variable cost = (Number of remittances) x (Variable cost per remittance)
Total variable cost = (5,131) x ($80)
Total variable cost = $410,480
Additionally, there is a monthly fixed cost of $625, which remains constant regardless of the number of remittances processed.
To calculate the total cost of processing remittances for the month, we can add the total variable cost and the fixed cost:
Total cost = (Total variable cost) + (Fixed cost)
Total cost = ($410,480) + ($625)
Total cost = $411,105
Therefore, your firm incurs a total cost of $411,105 per month to process an average of 5,131 remittances.
QUES: "Had to split question into two photos for words to remain
clear and visible
question ? Your firm receives an average of 5131 remittances per month with an average face charges a variable cost of $ 80 per item and monthly fixed cost of $625.
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the span at which the cost behaviors are expected to hold true is called: multiple choice variable costing full absorption costing relevant range relevant period
The span at which the cost behaviors are expected to hold true is called the relevant range.
It refers to the range of activity within which assumptions about cost behavior are valid. The relevant range is important because costs can behave differently at different levels of activity. For example, fixed costs remain constant within the relevant range but can increase or decrease outside of it.
Understanding the relevant range is critical in making decisions that affect costs and revenues, such as setting prices, determining production levels, and analyzing cost-volume-profit relationships. It is also important in managerial accounting, where cost behavior is analyzed to understand the cost structure of a company and to make decisions related to budgeting and forecasting.
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Full Question : the span at which the cost behaviors are expected to hold true is called: multiple choice
variable costing full absorption costing relevant range relevant periodwaveney diy centersuse the high-low method to estimate the fixed and variable portions of store costs based on store area. the managers in the region are interested in opening a new store with expected area of 50,000 square feet. assuming the data and cost estimates from the current stores are appropriate for the new store (se-16), what are the estimated store costs for store se-16? managers are also considering a concept store focused on downtown home and condo owners. these stores would have a much smaller area and carry a narrower range of products. the managers envision such stores being an average of 35,000 square feet. what are the estimated store costs for the average concept store?
The estimated store costs for the average concept store would be $450,000.
How to estimate the fixed and variable portions of store costsTo estimate the fixed and variable portions of store costs based on store area, Waveney DIY Centers use the high-low method.
Using this method, we can estimate the cost of opening a new store with an expected area of 50,000 square feet.
Assuming the data and cost estimates from the current stores are appropriate for the new store (SE-16), the estimated store costs for store SE-16 would be:
Let's say we have two current stores with the following data:
Store A: 40,000 square feet, total cost of $500,000
Store B: 60,000 square feet, total cost of $700,000
Using the high-low method, we can estimate the fixed and variable costs for each store:
Variable cost per square foot = (Total cost of Store B - Total cost of Store A) / (Area of Store B - Area of Store A)
Variable cost per square foot = ($700,000 - $500,000) / (60,000 - 40,000)
Variable cost per square foot = $10
Fixed cost = Total cost - (Variable cost per square foot x Area)
Fixed cost for Store A = $500,000 - ($10 x 40,000) = $100,000
Fixed cost for Store B = $700,000 - ($10 x 60,000) = $100,000
Using these estimates, we can calculate the estimated store costs for Store SE-16:
Variable cost for Store SE-16 = $10 x 50,000 = $500,000 Fixed cost for Store SE-16 = $100,000 Estimated store costs for Store SE-16 = $500,000 + $100,000 = $600,000Next, let's estimate the store costs for the average concept store.
The managers envision these stores being an average of 35,000 square feet and carrying a narrower range of products.
Using the same variable cost per square foot and fixed cost estimates from above, we can calculate the estimated store costs for the average concept store:
Variable cost for the average concept store = $10 x 35,000 = $350,000
Fixed cost for the average concept store = $100,000
Estimated store costs for the average concept store = $350,000 + $100,000 = $450,000
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shirley borrows $10,000 from second national bank at 12% interest. shirley will repay the loan in five equal payments beginning at the end of year 1. what is the annual amount that shirley will pay the bank each year? round your answer to the nearest dollar. multiple choice question. $2,774 $2,133 $1,266 $1,333
The annual amount that Shirley will pay the bank each year is $2,774, rounded to the nearest dollar. Here option A is the correct answer.
To find the annual amount that Shirley will pay the bank each year, we can use the formula for the present value of an annuity, which is:
PMT = [tex]\frac{A}{\left(\frac{1 - (1 + r)^{-n}}{r}\right)}[/tex]
where PMT is the payment amount, A is the present value of the loan, r is the interest rate per period, and n is the total number of periods.
In this case, Shirley borrowed $10,000 at 12% interest, so r = 0.12. She will repay the loan in five equal payments, so n = 5. The present value of the loan is also $10,000.
Substituting these values into the formula, we get:
PMT = [tex]\frac{10000}{\left(\frac{1 - (1 + 0.12)^{-5}}{0.12}\right)}[/tex]
= 10000 / 3.6058
≈ 2773.94
Rounding this to the nearest dollar, we get an annual payment of $2,774, which is option A in the multiple-choice question. Therefore, the answer is A - $2,774.
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Complete question:
Shirley borrows $10,000 from the second national bank at 12% interest. shirley will repay the loan in five equal payments beginning at the end of year 1. What is the annual amount that Shirley will pay the bank each year? round your answer to the nearest dollar. multiple choice questions.
A - $2,774
B - $2,133
C - $1,266
D - $1,333
amounts involving fraud are usually considered ________ important than unintentional errors of equal dollar amounts.
Amounts involving fraud are usually considered more important than unintentional errors of equal dollar amounts.
Amounts regarding frauds are taken into consideration extra essential than mistakes of identical quantity and Misstatements which might be in any other case immaterial can be fabric in the event that they have an effect on a fashion in earnings. Amounts regarding fraud are typically taken into consideration extra essential than accidental mistakes of identical greenback quantities. Misstatements which might be in any other case minor can be fabric if there are feasible outcomes springing up from contractual obligations. Examples of qualitative aspect that have an effect on an auditor's materiality judgment consist of quantities regarding fraud are usually considered extra essential than accidental mistakes of identical greenback quantities because fraud displays at the honesty and reliability of the control or different personnel involved.
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Amounts involving fraud are usually considered more important than unintentional errors of equal dollar amounts.
This is because fraud is a deliberate act committed with the intention of deceiving or causing harm, whereas unintentional errors are often the result of a mistake or oversight. Fraud can have significant financial and reputational consequences for individuals and organizations, and can undermine public trust in financial reporting and business practices.
In contrast, unintentional errors are usually the result of human error, miscommunication, or lack of understanding, and are often corrected quickly with minimal impact on financial statements or business operations. While unintentional errors should still be addressed and corrected.
Moreover, fraud often involves a violation of ethical and legal standards, which can result in legal consequences and damage to an individual's or organization's reputation. The importance of preventing and detecting fraud cannot be overstated, as it is essential to maintaining trust and integrity in the financial reporting process.
Therefore, it is important to implement strong internal controls and anti-fraud measures to prevent and detect fraud in financial reporting.
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all of the following are benefits the u.s. will gain from the adoption of globally consistent accounting standards except for: group of answer choices reduction in reporting costs as the need for multiple sets of financial statements decreases. increased quality of information available to investors. continued expansion of capital markets across national borders, facilitating more efficient use of global capital. nearly seamless transition with minimal expenses related to corporate governance considerations.
The benefit the U.S. will NOT gain from the adoption of globally consistent accounting standards is nearly seamless transition with minimal expenses related to corporate governance considerations. Option D is correct.
The adoption of globally consistent accounting standards is expected to provide several benefits to the U.S., such as the reduction in reporting costs as the need for multiple sets of financial statements decreases, increased quality of information available to investors, and continued expansion of capital markets across national borders, facilitating more efficient use of global capital.
However, a nearly seamless transition with minimal expenses related to corporate governance considerations is not a commonly cited benefit of the adoption of globally consistent accounting standards. In fact, implementing new accounting standards often requires significant changes to a company's corporate governance structure, which can result in additional expenses.
Therefore, option D is correct.
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recruitment advertisements for certain guard positions at a women's correction facility specify that employees must be female. this is an example of:
The recruitment advertisements for certain guard positions at a women's correction facility specifying that employees must be female is an example of sex discrimination.
The requirement for only female employees is a form of sex discrimination, which is illegal under Title VII of the Civil Rights Act of 1964.
While it may be argued that the requirement is necessary for privacy concerns or to prevent sexual harassment, the requirement excludes qualified individuals based solely on their gender, which is a violation of their civil rights.
Gender-neutral job requirements that focus on job-related qualifications, skills, and abilities should be used to ensure fair hiring practices and prevent discrimination against any particular group.
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which of the following is not an assumption of the basic fixed-order quantity inventory model? multiple choice ordering or setup costs are constant lead time is constant demand for the product is uniform throughout the period inventory holding cost is based on average inventory diminishing returns to scale of holding inventory
The assumption that is not part of the basic fixed-order quantity inventory model is "diminishing returns to scale of holding inventory."
The basic fixed-order quantity inventory model, also known as the Economic Order Quantity (EOQ) model, assumes that ordering or setup costs are constant, lead time is constant, demand for the product is uniform throughout the period, and inventory holding cost is based on average inventory.
However, it does not assume diminishing returns to scale of holding inventory. In other words, it assumes that the cost of holding inventory increases linearly with the amount of inventory held, rather than increasing at an accelerating rate as inventory levels increase.
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The Z score is 1.7. The values of X1, X2, X3, X4 and X5 are respectively .1, .3, .25, .2 and you have to compute the last one.
Explicate the meaning of the different determinants of the Z score.
Will this company default? A yes or no answer does not suffice.
The Z-score is a financial ratio that is used to assess the creditworthiness or financial health of a company. It is typically used to predict the likelihood of a company defaulting on its debt obligations.
How to calculate Z-score?
The Z-score is calculated using various financial ratios and measures, and the determinants of the Z-score are as follows:
X1 - Working Capital/Total Assets: This ratio measures the proportion of a company's total assets that are financed by its working capital (current assets minus current liabilities). A higher value of X1 indicates a higher proportion of working capital to total assets, which is generally considered favorable as it indicates a company's ability to cover short-term obligations.
X2 - Retained Earnings/Total Assets: This ratio measures the proportion of a company's total assets that are financed by its retained earnings (profits reinvested into the business). A higher value of X2 indicates a higher proportion of retained earnings to total assets, which is generally considered favorable as it indicates a company's ability to generate profits and reinvest in the business.
X3 - Earnings Before Interest and Taxes (EBIT)/Total Assets: This ratio measures the proportion of a company's total assets that are generated from its operating earnings before interest and taxes. A higher value of X3 indicates a higher proportion of operating earnings to total assets, which is generally considered favorable as it indicates a company's profitability.
X4 - Market Value of Equity/Total Liabilities: This ratio measures the proportion of a company's total liabilities that are covered by its market value of equity (market capitalization). A higher value of X4 indicates a higher proportion of equity to total liabilities, which is generally considered favorable as it indicates a company's ability to cover its liabilities using its market value of equity.
X5 - Sales/Total Assets: This ratio measures the proportion of a company's total assets that are generated from its sales.
To compute the last value, we need to use the formula for calculating a Z-score:
Z = (X - mean) / standard deviation
We know that the Z-score is 1.7, so we can plug in the values we have and solve for X:
1.7 = (X - 0.21) / 0.08
Multiplying both sides by 0.08 gives:
0.136 = X - 0.21
Adding 0.21 to both sides gives:
X = 0.346
Therefore, the last value, X5, is 0.346.
Now, regarding the question of whether the company will default or not, a yes or no answer does not suffice as the Z score alone is not conclusive. Typically, a Z score value below a certain threshold (usually below 1.8) is considered indicative of a higher risk of default, while a value above the threshold suggests a lower risk of default. However, it's important to consider other factors such as industry norms, economic conditions, and specific circumstances of the company in question before making any definitive conclusions. It's recommended to use the Z score as a tool for initial assessment, but further analysis and evaluation are needed to determine the likelihood of default for a company accurately. Consulting with a financial expert or conducting a comprehensive financial analysis would be advisable in making a well-informed decision.
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what is the central role of financial intermediaries in a market economy?group of answer choicesproviding safe deposit boxes for people and businessesthe creation and printing of moneybringing together savers and borrowerskeeping the price level stable
The central role of financial intermediaries in a market economy is bringing together savers and borrowers.
Financial intermediaries are generally used for financial transactions. This usually takes place between different banks.
These types of intermediaries lower the cost of doing business. For leasing purposes, we should use financial intermediaries, and also defer ourselves from accepting credits from the public in this scenario.
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9-3: Bond Valuation Problem Walk-Through Bond valuation Nungesser Corporation's outstanding bonds have a $1,000 par value, a 7% semiannual coupon, 17 years to maturity, and an 8% YTM. What is the bond's price? Round your answer to the nearest cent. . $
Nungesser Corporation's outstanding bonds' price is $860.52.
1. Par value:
The par value of the bond is $1,000.
2. Semiannual coupon:
The bond has a 7% semiannual coupon, meaning it pays 7%/2 = 3.5% of the par value every 6 months. So, the coupon payment per period is $1,000 * 0.035 = $35.
3. Years to maturity:
The bond has 17 years to maturity. Since it is a semiannual bond, there will be 17 * 2 = 34 periods until maturity.
4. YTM:
The bond has an 8% YTM, which is the yield to maturity per year. Since the bond is semiannual, the yield per period will be 8%/2 = 4%, or 0.04 as a decimal.
5. We will calculate the bond's price using the Present Value (PV) formula for bonds:
PV = C * (1 - (1 + r)^(-n)) / r + F * (1 + r)^(-n)
Where:
PV is the bond's price
C is the coupon payment per period ($35)
r is the yield per period (0.04)
n is the number of periods (34)
F is the par value of the bond ($1,000)
PV = $35 * (1 - (1 + 0.04)^(-34)) / 0.04 + $1,000 * (1 + 0.04)^(-34)
PV ≈ $35 * 15.0463 + $1,000 * 0.3339
PV ≈ $526.62 + $333.90
PV ≈ $860.52
The bond's price is approximately $860.52, rounded to the nearest cent.
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Compare the forms of market efficiency hypothesis. Cite two
market anomalies that are inconsistent with weak-form and
semistrong-form market efficiency.
Market Efficiency Hypothesis are weak-form, semi-strong form, and strong-form. Two market anomalies inconsistent with weak-form efficiency are the "momentum effect" and "mean reversion."
The three forms of the Market Efficiency Hypothesis are weak-form, semi-strong form, and strong-form. The weak-form efficiency asserts that current stock prices already reflect all past trading information, making it impossible to consistently outperform the market using historical data.
In contrast, semi-strong form efficiency states that current stock prices not only reflect past trading information but also all publicly available information. The "momentum effect" and "mean reversion" are two market anomalies that are incompatible with weak-form efficiency.
The momentum effect suggests that stocks with strong past performance continue to outperform, while mean reversion indicates that poorly performing stocks eventually revert to their mean performance. These contradict the weak-form efficiency, as they imply predictability using past data.
In the case of semi-strong form efficiency, the "post-earnings announcement drift" and "value effect" are two anomalies. Post-earnings announcement drift occurs when stocks continue to drift in the same direction after a significant earnings surprise, implying that the market does not immediately absorb all public information.
The value effect suggests that value stocks (with low price-to-book ratios) outperform growth stocks, indicating that public information is not entirely reflected in stock prices. These anomalies challenge the semi-strong form efficiency, as they suggest the possibility of outperformance using publicly available information.
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when preparing the balance sheet for papago company for december 31, 2021, which item would not be classified as a current liability? multiple choice note payable due march 1, 2023 accounts payable income taxes due on september 15, 2022 the current portion of a 30-year mortgage
In the given options, the item that would not be classified as a current liability is the current portion of a 30-year mortgage
The current portion of a 30-year mortgage would not be classified as a current liability.
Current liabilities are those obligations that are due within one year or the company's operating cycle, whichever is longer. Examples of current liabilities include accounts payable, notes payable due within one year, and income taxes payable.
The current portion of a long-term liability, such as a 30-year mortgage, represents the portion of the principal that is due within the next 12 months. This amount is classified as a current liability on the balance sheet. However, the remaining portion of the mortgage, which is not due within the next 12 months, would be classified as a long-term liability.
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The management technique whereby managers concentrate on results that are outside the accepted parameters is called management by _____.
a) Budget
b) Standard
c) Exception
d) Variance
The management technique whereby managers concentrate on results that are outside the accepted parameters is called management by c) Exception.
Focus on Deviations: In management by exception, managers set performance parameters or standards for various aspects of the organization's operations, such as financial performance, operational metrics, or employee performance.
They then monitor actual performance against these standards and focus their attention on areas that deviate from these standards.
For example, if a department's expenses exceed the budgeted amount, or if sales performance falls below target, managers would investigate and take corrective action on these exceptions.
Time and Resource Efficiency: By focusing on exceptions, managers can allocate their time and resources more efficiently. Instead of micromanaging routine tasks or activities that are performing well, managers can concentrate on addressing areas that require attention or intervention.
This allows managers to prioritize their efforts and resources on areas that have the most significant impact on overall performance.
Rapid Response to Issues: Management by exception enables managers to identify issues or problems early and take prompt corrective action. By monitoring deviations from expected performance parameters, managers can quickly identify issues or trends that may adversely impact organizational performance.
This allows for timely intervention and corrective action, preventing further deviations or mitigating the impact of issues on the organization's results.
Empowerment and Accountability: Management by exception encourages accountability and empowerment among employees. When employees are aware of the performance parameters or standards they are expected to meet, they are empowered to take ownership of their performance and be accountable for meeting those standards.
This can foster a sense of responsibility and motivation among employees to strive for excellence and meet or exceed performance expectations.
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Suppose you came into some money and looking for a bond to invest in. You found a $1,000, with 7 years left to maturity bond. If the bond has a 7% coupon rate but pays interest semi-annually and you require a 5% return on your investment, how much are you willing to pay for the bond? (Round your answer to two decimal point)
I am willing to pay $985.81 today for this bond if you require a 5% return on your investment.
How to calculate the price of the bond?To calculate the price of the bond, we need to find the present value of all the future cash flows (interest payments and principal repayment) discounted at the required rate of return of 5%.
The bond has a face value of $1,000 and a coupon rate of 7% paid semi-annually, so the semi-annual coupon payment is:
Coupon payment = Face value * Coupon rate / 2
= $1,000 * 7% / 2
= $35
Since the bond pays interest semi-annually, there will be 14 coupon payments (7 years x 2 payments per year) of $35 each. At the end of the 7th year, the bond will also pay back the face value of $1,000.
Using the formula for the present value of an annuity, we can find the present value of the 14 coupon payments:
PV of coupons = Coupon payment * [1 - 1/(1+r)^n] / r
where r is the required rate of return and n is the number of periods (in this case, 14 semi-annual periods).
Plugging in the values, we get:
PV of coupons = $35 * [1 - 1/(1+5%/2)^14] / (5%/2)
= $444.94
Using the formula for the present value of a single sum, we can find the present value of the face value payment:
PV of face value = Face value / (1+r)^n
Plugging in the values, we get:
PV of face value = $1,000 / (1+5%)^14
= $540.87
Therefore, the total present value of the bond's cash flows is:
Total present value = PV of coupons + PV of face value
= $444.94 + $540.87
= $985.81
So you are willing to pay $985.81 today for this bond if you require a 5% return on your investment.
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