The result is negative, it means that the maximum amount of checkable-deposit money that can be removed by the banking system as a result of these deposits and withdrawals is $25 million.
To determine the maximum amount of new checkable-deposit money that can be created or removed, we must first find the net change in deposits, which is the difference between the total deposits and total withdrawals. In this case:
Net change in deposits = Total deposits - Total withdrawals
Net change in deposits = $38 million - $43 million
Net change in deposits = -$5 million
Now, we need to calculate the maximum change in checkable-deposit money using the money multiplier. The money multiplier is the inverse of the reserve requirement, so:
Money multiplier = 1 / Reserve requirement
Money multiplier = 1 / 20%
Money multiplier = 1 / 0.20
Money multiplier = 5
Next, we multiply the net change in deposits by the money multiplier to find the maximum change in checkable-deposit money:
Maximum change in checkable-deposit money = Net change in deposits * Money multiplier
Maximum change in checkable-deposit money = -$5 million * 5
Maximum change in checkable-deposit money = -$25 million
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1. An indenture is:
A. another name for a bond's coupon.
B. the legal agreement between the bond issuer and the bondholders.
C. a bond that is secured by the inventory held by the bond's issuer.
D. a bond that is past its maturity date but has yet to be repaid.
E. the written record of all the holders of a bond issue.
2. Kaiser Industries has bonds on the market making annual coupon payments, with 14 years to maturity, and selling for $1,382.01. At this price, the bonds have a yield to maturity of 5.9 percent. What is the dollar amount of annual coupon?
A. $99.47
B. $59.00
C. $100.39
D. $40.69
E. $99.84
1. An indenture is the legal agreement between the bond issuer and the bondholders. The correct answer is B. 2. The dollar amount of the annual coupon is $99.84. The correct answer is E.
1. An indenture is the legal agreement between the bond issuer and the bondholders, which specifies the terms and conditions of the bond.
2. To calculate the annual coupon payment, we use the present value formula and solve for the coupon payment (C). The formula is:
[tex]PV = C / (1+r)^1+ C / (1+r)^2 + ... + C / (1+r)^n + FV / (1+r)^n[/tex]
where PV is the present value, r is the yield to maturity, n is the number of years to maturity, and FV is the face value of the bond. Rearranging the formula to solve for C, we get:
[tex]C = (PV - FV / (1+r)^n) / ((1+r)^1 + (1+r)^2 + ... + (1+r)^n)[/tex]
Substituting the given values, we get:
C = ($1,382.01 - $1,000 / (1+0.059)¹⁴) / ((1+0.059)¹ + (1+0.059)² + ... + (1+0.059)¹⁴) = $99.84
Therefore, the annual coupon payment is $99.84.
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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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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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1. Next year’s expected firm earnings are $8,000, shares outstanding 2000, ROE=16% required rate of return k= 9%, your plowback ratio b=17% and assuming constant growth dividends. Calculate the PVGO
Please use 5 decimal places in your response
2. Next year’s expected firm earnings are $6,000, shares outstanding 1000, ROE=13% required rate of return k= 10%, your plowback ratio b=20% and assuming constant growth dividends. Calculate todays price P0
Please use 4 decimal places in your response
1. To calculate the PVGO with given values, first, find the dividend payout ratio (1 - b) which is 1 - 0.17 = 0.83. Next, calculate the earnings per share (EPS) by dividing the expected firm earnings by the number of shares outstanding, which is $8,000 / 2,000 = $4.
Then, determine the dividend per share (DPS) by multiplying EPS by the dividend payout ratio, which is $4 * 0.83 = $3.32. Now, calculate the growth rate (g) by multiplying the plow back ratio by the ROE, which is 0.17 * 0.16 = 0.0272.
Finally, calculate the PVGO using the formula PVGO = (DPS / (kg)) - (EPS / k), which is ($3.32 / (0.09 - 0.0272)) - ($4 / 0.09) = 48.50617 - 44.44444 = 4.06173.
2. To calculate today's price P0, follow similar steps as in the first calculation. Find the EPS, which is $6,000 / 1,000 = $6.
Calculate the DPS using the payout ratio (1 - b) = 1 - 0.20 = 0.80, resulting in a DPS of $6 * 0.80 = $4.80. Calculate the growth rate (g) as 0.20 * 0.13 = 0.026. Lastly, use the Gordon growth model to find P0: P0 = DPS / (kg), which is $4.80 / (0.10 - 0.026) = $64.0000.
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you are purchasing a new machine that costs $12 million, and that has a 7 year expected life span. After 7 years, the estimated salvage value is $2 million. What is the yearly straight-line depreciation? (answer in MILLION dollars, but without the dollar sign, e.g. "0.42" is $0.42 million) Type your answer...
The yearly straight-line depreciation for the machine is $1.43 million.
The yearly straight-line depreciation for the new machine that costs $12 million and has an expected life span of 7 years with a salvage value of $2 million is calculated by subtracting the salvage value from the cost of the machine and dividing it by the expected life span. In this case, the calculation would be:
($12 million - $2 million) / 7 years = $1.43 million per year
Therefore, the yearly straight-line depreciation for the machine is $1.43 million.
Straight-line depreciation is a common method used to calculate the decrease in the value of assets over time. It assumes that the value of the asset decreases by an equal amount each year. In this case, the depreciation expense for the machine is spread out evenly over its expected life span of 7 years. The salvage value is also taken into account to determine the total amount of depreciation. The yearly straight-line depreciation can be useful for companies to determine the cost of owning and operating assets over their useful lives.
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. Based on the course material and recommended text,
explain the difference between each of the following
terms.
Assets and liabilities:
Book value and market value:
Current assets, fixed assets, and
Assets are economic resources that an individual, company or organization owns that have the potential to generate future economic benefits. Examples of assets include cash, investments, property, and equipment.
Liabilities are obligations that an individual, company or organization owes to others and must be fulfilled in the future. Examples of liabilities include bank loans, accounts payable, and bonds.
Book value is the value of an asset or liability as reported on a company's financial statements. It is calculated based on historical cost or acquisition cost of an asset or liability, adjusted for depreciation or amortization.
Market value, on the other hand, is the current value of an asset or liability in the market, based on the supply and demand of buyers and sellers. It can fluctuate frequently based on various market conditions such as interest rates, economic conditions, and investor sentiment.
Current assets are assets that can be easily converted into cash within one year, including cash, marketable securities, accounts receivable, and inventory. Fixed assets are long-term assets that are not expected to be converted into cash within one year, including property, plant, and equipment.
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which of the following is a political risk faced by organizations such as fifa that operate in multiple countries? group of answer choices a. challenges implementing the world trade organization agreements b. uncertain prices for critical commodities c. potential nationalization of invested assets d. failure of countries to pay debt obligations
The correct answer to your question is: c. potential nationalization of invested assets. This is a political risk faced by organizations like FIFA that operate in multiple countries, as it involves the possibility of a government taking control of their assets within that country .
The political risk faced by organizations such as FIFA that operate in multiple countries is the potential nationalization of invested assets. Nationalization refers to the process in which a government takes over private assets and makes them publicly owned. This can happen when a government feels that foreign investments are threatening their national security or when they want to take control of a strategic industry. Nationalization can lead to significant financial losses for organizations operating in multiple countries as they may lose their assets and investments in the affected countries.
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true or false: transformation processes occur in all organizations, regardless of what the organization produces.
True. Regardless of the products they generate, transformation processes happen in all organisations. All organisations engage in transformation, or the conversion of inputs into outputs, in order to accomplish their aims and objectives.
True. Transformation processes occur in all organizations, regardless of what the organization produces. Transformation refers to the conversion of inputs into outputs, and all organizations engage in this process to achieve their goals and objectives. Inputs may include resources such as materials, labor, and capital, while outputs may include products or services. Whether an organization produces goods or services, it must transform inputs into outputs to create value for its stakeholders.
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Describe how traditional management has had to adapt to modern
digital management. Provide examples to support your answer.
Traditional management has had to adapt to modern digital management by incorporating technology in decision-making, communication, and operations, leading to improved efficiency and productivity.
Traditional management has had to adapt significantly to modern digital management, with the advent of new technologies and the rise of digital communication. In the past, management was more hierarchical, with a top-down approach to decision-making and communication.
However, with the increasing use of digital tools, management has had to become more collaborative, flexible, and responsive.
One key example of this shift is in the way that companies now communicate and collaborate with employees and teams. Digital tools like video conferencing, instant messaging, and project management software have made it possible for teams to work together more seamlessly, no matter where they are located.
Another example is in the way that companies now collect and analyze data. Traditional management often relied on static reports and gut instincts to make decisions, but with the rise of big data and advanced analytics, companies can now gather real-time insights and make data-driven decisions.
Overall, traditional management has had to adapt to modern digital management in order to stay competitive and to meet the needs of a rapidly changing business environment. By embracing new technologies and adopting more collaborative and data-driven approaches to decision-making, companies can become more agile, responsive, and effective in their operations.
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In many nonindustrial societies, adolescence is considered to be either nonexistent or NON existant or growth leading too Sexual maturityq (true or false)
False. In many nonindustrial societies, adolescence is considered to be a distinct period of life, characterized by physical, cognitive, and social changes, although the concept and experience of adolescence may differ from that of industrial societies.
In many nonindustrial societies, adolescence is seen as a transitional period between childhood and adulthood, marked by physical changes such as growth spurts and the onset of puberty, as well as social and cultural changes such as increased responsibilities, initiation rites, and gender roles.
However, the experience of adolescence may vary greatly across different nonindustrial societies, depending on factors such as cultural values, economic conditions, and religious beliefs. For example, some societies may emphasize the importance of marriage and childbearing for adolescent girls, while others may encourage exploration and experimentation before settling into adult roles.
Overall, while the concept of adolescence may not be universal or static, it remains an important period of development and transition in many nonindustrial societies.
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Conclude an entry barriers essay
although a firm's existing mix of financing sources may reflect its target capital structure, it is ultimately . group of answer choices the internal rate of return that is relevant for evaluating the firm's future investment opportunities the marginal cost of capital that is relevant for evaluating the firm's future investment opportunities the risk-free rate of return that is relevant for evaluating the firm's future investment opportunities the risk-free rate of return that is relevant for evaluating the firm's future financing opportunities
While a firm's existing mix of financing sources and target capital structure are important considerations, they are ultimately less relevant than the marginal cost of capital when evaluating the firm's future investment opportunities.
The most important factor to consider when evaluating a firm's future investment opportunities is the marginal cost of capital. The marginal cost of capital refers to the cost of obtaining additional funds to finance a new project or investment. It takes into account the various sources of financing available to the firm, including debt, equity, and other forms of financing.
When a firm is considering a new investment opportunity, it will typically need to raise additional funds to finance the project. The cost of these funds will depend on the firm's existing financing mix, as well as the current market conditions for different types of financing. For example, if interest rates are low, the cost of debt financing may be relatively cheap, while equity financing may be more expensive.
To evaluate the potential return on a new investment opportunity, it is important to compare the expected return on the investment to the marginal cost of capital. If the expected return on the investment is greater than the marginal cost of capital, then the investment is likely to be profitable for the firm. However, if the expected return is lower than the marginal cost of capital, then the investment is unlikely to generate a positive return for the firm.
It is worth noting that the risk-free rate of return can also be relevant when evaluating a firm's future investment opportunities. The risk-free rate of return refers to the rate of return on a risk-free investment, such as a government bond. This rate can be used as a benchmark for comparing the expected return on a new investment opportunity. If the expected return on the investment is significantly higher than the risk-free rate of return, then the investment may be worth considering.
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the degree to which people believe a person has their best interests in mind is known as:
The degree to which people believe a person has their best interests in mind is known as perceived benevolence or perceived trustworthiness.
People's perceptions of someone's goodness or trustworthiness might be gauged by how much they think that person has their best interests in mind. Factors including the person's behaviour, communication style, reputation, and degree of competence can all have an impact on this. those are more likely to trust those they believe to be trustworthy, honest, and truly concerned about their welfare.
Building and sustaining healthy relationships, both personally and professionally, might depend on this degree of trust.
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The degree to which people believe a person has their best interests in mind is known as perceived benevolence or perceived trustworthiness. People's perceptions of someone's goodness.
or trustworthiness might be gauged by how much they think that person has their best interests in mind. Factors including the person's behaviour, communication style, reputation, and degree of competence can all have an impact on this. those are more likely to trust those they believe to be trustworthy, honest, and truly The degree to which people believe a person has their best interests in mind is known as perceived benevolence or perceived benevolence trustworthiness. People's perceptions of someone's goodness or trustworthiness might be gauged by how much they think that person has their best interests in mind. Factors including the person's behaviour, communication style, reputation, and degree of competence can all have an impact on this. those are more likely to trust those they believe to be trustworthy, honest, and truly concerned about their welfare. concerned about their welfare. Building and sustaining healthy relationships, both personally and professionally, might depend on this degree of trust.
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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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Watters Umbrella Corp. issued 15-year bonds 2 years ago at a coupon rate of 8 percent. The bonds make semiannual payments. If these bonds currently sell for 115 percent of par value, what is the YTM?
The yield to maturity (YTM) on the 15-year bonds issued by Watters Umbrella Corp. can be calculated by using the current market price of the bonds and the coupon rate. Since the bonds make semiannual payments, the coupon rate can be divided by two to get the semiannual coupon payment.
First, we need to calculate the semiannual coupon payment which is 8% / 2 = 4%. Next, we need to find the present value of the semiannual coupon payments and the principal payment using the YTM.
Since the bonds are currently selling at 115% of par value, the price of each bond would be 1.15 x $1,000 = $1,150. We can use this price to calculate the YTM using a financial calculator or Excel's RATE function.
Assuming a face value of $1,000, a coupon rate of 4%, 30 payments (15 years x 2 payments per year), and a present value of -$1,150 (since it's the cash outflow), we get a YTM of approximately 3.5%. Therefore, the YTM for Watters Umbrella Corp.'s 15-year bonds is approximately 3.5%.
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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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Your stock has a β = 2.77, the expected return on the stock
market is 16.67%, and the yield on T-bills is 6%. What is the
expected return on your stock?
To calculate the expected return on your stock, we can use the following formula: Expected return = risk-free rate + β * (market return - risk-free rate)Plugging in the given values, we get:
Expected return = 6% + 2.77 * (16.67% - 6%)
Expected return = 6% + 2.77 * 10.67%
Expected return = 6% + 29.50%
Expected return = 35.50%
Therefore, the expected return on your stock is 35.50%.The expected return on the stock can be calculated using the Capital Asset Pricing Model (CAPM):Expected return on stock = Risk-free rate + Beta*(Expected market return - Risk-free rate)
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The common stock of NCP paid 1.32 in dividends last year. Dividends are expected to grow at an 8% annual rate for an indefinite number of years.
a. If NCP's current market price is $23.50 per share, what is the stock's expected rate of return?
b. If your required rate of return is 10.5 %, what is the value of the stock for that investor?
c. Should you make the investment?
Given that your required rate of return is 10.5% and the stock value ($57.024) is higher than the current market price ($23.50), it is clear that the stock is undervalued and would be a wise investment.
We'll be using the Dividend Discount Model (DDM) to solve the problem.
a. To calculate the stock's expected rate of return, we'll use the following formula:
Expected Rate of Return = (Dividend1 / Current Market Price) + Dividend growth rate
First, we need to find Dividend1, which is the dividend for the next year. We have:
Dividend0 = $1.32 (last year's dividend)
Dividend Growth Rate = 8%
Dividend1 = Dividend0 * (1 + Dividend Growth Rate)
Dividend1 = $1.32 * (1 + 0.08)
Dividend1 = $1.4256
Now, we can calculate the expected rate of return:
Expected Rate of Return = ($1.4256 / $23.50) + 0.08
Expected Rate of Return = 0.06066 + 0.08
Expected Rate of Return = 0.14066 or 14.066%
b. To find the value of the stock for an investor with a required rate of return of 10.5%, we'll use the DDM formula:
Stock Value = Dividend1 / (Required Rate of Return - Dividend Growth Rate)
Stock Value = $1.4256 / (0.105 - 0.08)
Stock Value = $1.4256 / 0.025
Stock Value = $57.024
c. To determine if you should make the investment, compare the stock value with the current market price. In this case:
Stock Value = $57.024
Current Market Price = $23.50
Since the stock value ($57.024) is greater than the current market price ($23.50), it indicates that the stock is undervalued, and it would be a good investment based on your required rate of return of 10.5%.
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the future value of an ordinary annuity table is used when calculating multiple choice question. the present value of a series of payments. the present value of a single amount. the future value of a series of payments.
The future value of an ordinary annuity table is a tool used to calculate the future value of a series of payments made at the end of each period over a certain number of periods.
This table helps individuals determine the amount they will have in the future based on their current investment or savings plan. By using the table, investors can estimate the value of their investment at the end of the investment period, assuming they make regular, equal payments.
The table is also useful in calculating the present value of a series of payments. By taking the future value of these payments and discounting it back to the present, individuals can determine the amount they would need to invest today to achieve their desired future value. This is known as the present value of an ordinary annuity.
The present value of a single amount is also important to consider when investing. This refers to the value of a lump sum payment today that will grow over time, assuming a certain rate of return. By understanding the present value of a single amount, investors can better determine how much they need to invest to reach their financial goals.
In summary, the future value of an ordinary annuity table is a valuable tool for investors to determine the future value of their investments and savings plans. It can also be used to calculate the present value of a series of payments and a single lump sum payment.
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actions an employer can take to work toward inclusion of those historically underrepresented in the workplace include all of the following except: group of answer choices hiring and training groups that have been underrepresented recruiting from groups the employer hasn't previously made an attempt to recruit from mentoring, management training, and other development hiring individuals from underrepresented groups, even if not fully qualified
The actions an employer can take to work toward inclusion of those historically underrepresented in the workplace include all of the following except hiring individuals from underrepresented groups, even if not fully qualified.
The other options, such as hiring and training groups that have been underrepresented, recruiting from groups the employer hasn't previously made an attempt to recruit from, and providing mentoring, management training, and other development, are all positive steps toward promoting workplace diversity and inclusion.
However, hiring individuals who are not fully qualified for a position could potentially undermine the objective of achieving a diverse and inclusive workplace, as it might result in lowered performance or negative perceptions from other employees. Instead, focusing on hiring qualified candidates and providing opportunities for growth and development can create a more equitable and inclusive environment for all employees.
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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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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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a(n) _________ is a social entrepreneur who creates something new through the combination of diverse and different elements.
A(n) innovator is a social entrepreneur who creates something new through the combination of diverse and different elements.
Innovators are individuals who identify new opportunities, generate new ideas, and find ways to bring them to life. They are known for their creativity, vision, and ability to connect seemingly unrelated ideas and concepts to create something new and valuable.
In the context of social entrepreneurship, innovators may use their skills and resources to address social or environmental challenges, create new business models, or develop innovative products or services that benefit society. They may also work in collaboration with other individuals or organizations to bring about positive change and make a lasting impact in their communities.
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A "social innovator" is a social entrepreneur who creates something new through the combination of diverse and different elements.
Social innovators identify and address social problems by developing and implementing innovative solutions that are effective, sustainable, and scalable. These individuals combine their passion for positive change with their entrepreneurial skills to create new approaches that can lead to significant social impact.
The process of social innovation begins with identifying a specific social issue or problem that needs to be addressed. Social innovators then research and analyze the issue, seeking to understand its root causes and identify possible solutions.
Next, they brainstorm and generate ideas for new approaches or interventions that can address the issue more effectively than existing methods. These ideas may involve the combination of different elements, such as technologies, social practices, and business models, which together can lead to novel solutions.
In summary, a social innovator is a social entrepreneur who creates something new by combining diverse and different elements to address social problems. Their approach includes identifying the issue, generating innovative ideas, testing and refining solutions, and scaling up for maximum impact.
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Discuss about how improving the fund raising measures at a
future non-profit.
There are various strategies for improving fund raising measures at a future non-profit, such as diversifying the donor base, expanding the scope of fundraising activities, and improving donor engagement.
One effective approach is to diversify the donor base by targeting individuals, foundations, corporations, and government agencies that are interested in supporting the non-profit's mission. This can be done through networking, outreach, and marketing campaigns that highlight the organization's impact and accomplishments.
Expanding the scope of fundraising activities can also help to increase donations. This can include hosting events, creating online campaigns, or partnering with other organizations to raise awareness and funds for the non-profit's cause.
In addition, improving donor engagement is critical for building long-term relationships and securing recurring donations. This can be achieved by creating personalized communication and marketing strategies that demonstrate the impact of donations and offer opportunities for involvement and feedback.
Ultimately, improving fund raising measures at a future non-profit requires a strategic and integrated approach that prioritizes relationship-building, donor engagement, and diversification of funding sources. By implementing these strategies, the non-profit can increase its financial stability and make a greater impact on its mission.
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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 periodSuppose you want to buy a 8-year. $1.000 par value semi-annual bond with an annual coupon rate of 6%, but pays interest semi-annually. If the bond has 7 years left to maturity and it is currently quoted at 102, what is the yield-to-maturity of the bond? (Round your answer to two decimal point)
The yield-to-maturity of the bond is approximately 2.76%.
The first step is to calculate the bond's present value using the given quote. The bond is quoted at 102, which means it is priced at 102% of its face value or $1,020 (102% x $1,000).
Next, we need to calculate the semi-annual coupon payment. The coupon rate is 6% per year, so the semi-annual coupon rate is 3% (6% / 2). The semi-annual coupon payment is therefore $1,000 x 3% = $30.
Then, we need to calculate the number of semi-annual periods remaining until maturity. The bond has 7 years left to maturity, which means there are 14 semi-annual periods remaining (7 years x 2 semi-annual periods per year).
Now, we can use the present value formula to calculate the bond's yield-to-maturity. The formula is:
PV = C x [1 - (1 + r)^-n] / r + FV / (1 + r)^n
where PV is the present value of the bond, C is the semi-annual coupon payment, r is the yield-to-maturity, n is the number of semi-annual periods remaining, and FV is the face value of the bond.
Using the values we have calculated, we can rearrange the formula to solve for the yield-to-maturity:
r = [C x (FV / PV) x (1 - (1 + r)^-n)] / [((1 + r)^n - 1) x 0.5]
Substituting the values we have calculated, we get:
r = [30 x (1,000 / 1,020) x (1 - (1 + r)^-14)] / [((1 + r)^14 - 1) x 0.5]
Using a financial calculator or a spreadsheet, we can solve for r, which is approximately 0.0138 or 1.38% per semi-annual period.
To annualize the yield, we need to multiply it by 2 (since there are two semi-annual periods per year):
Annual Yield-to-Maturity = 2 x 1.38% = 2.76%
Therefore, the yield-to-maturity of the bond is approximately 2.76%.
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Had to split question into two photos for words to remain clear and visible
Question 13 The firm is evaluating a proposal to extend credit to a group of new customers. The new customers will they will pay in 30 days. The variable contrato eCOGS) is 80% of sales, collection expenses are 5% Cocor upront, while the collection cost out on the date in which the customer's payment is recal one day's sales the firm grants credit?
The firm is evaluating a proposal to extend credit to a group of new customers who will pay in 30 days. The variable cost (COGS) is 80% of sales, and collection expenses are 5%. The collection cost is incurred on the date when the customer's payment is received. The question asks if the firm should grant credit to these new customers.
Step 1: Analyze the costs and benefits associated with extending credit.
The variable cost (COGS) represents 80% of sales, which is the cost of producing the goods sold. Collection expenses are 5% of the sales, which are the costs associated with collecting payments from customers.
Step 2: Evaluate the risks and potential returns.
Extending credit to new customers can lead to increased sales and revenue. However, it also comes with the risk of non-payment or delayed payments, which can affect cash flow and profitability.
Step 3: Compare the potential returns to the costs.
To determine if granting credit is a wise decision, the firm needs to weigh the potential increase in sales and revenue against the costs associated with extending credit and collecting payments.
Step 4: Make a decision.
If the potential returns outweigh the costs and risks, the firm should consider extending credit to the new customers. However, if the costs and risks are too high, it might be more prudent to avoid granting credit to these customers and explore other options for growing sales and revenue.
In summary, to decide whether to grant credit to the new customers, the firm should carefully analyze the costs and benefits, evaluate the risks and potential returns, and compare these factors before making a final decision.
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8. Determine the beta of a portfolio formed by 30% risk-free asset, 25% stocks of UBS with a volatility of 15% and with a beta of 0.8; 65% in Unilever stocks with a variance of 0.0012 and a beta equal to 0,6 and a short selling position equal to 20% in corporate bonds of Eon with a beta of 0,3. A) Beta between 0, 45 and 0,55 B) Beta between 0,6 and 0,7 C) Beta between 0,33 and 0,43 D) None of the above
The beta of the given portfolio is beta between 0.45 and 0.55 Therefore, the correct option is A.
To determine the beta of a portfolio, we need to calculate the weighted average of the betas of each component in the portfolio. Given the information in your question, we have:
1. 30% risk-free asset (beta = 0)
2. 25% UBS stocks (beta = 0.8)
3. 65% Unilever stocks (beta = 0.6)
4. -20% Eon corporate bonds (short selling, beta = 0.3)
Now, we'll calculate the weighted average beta:
Portfolio beta = (0.30 * 0) + (0.25 * 0.8) + (0.65 * 0.6) + (-0.20 * 0.3)
Portfolio beta = (0) + (0.2) + (0.39) + (-0.06)
Portfolio beta = 0.53
Based on the calculated portfolio beta of 0.53, the correct answer is A) Beta between 0.45 and 0.55.
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a physical inventory taken on december 31, 2020, resulted in an ending inventory of $1,050,000. jep's markup on cost has remained constant at 32% in recent years. jep suspects that an unusual amount of inventory may have been damaged and disposed of without appropriate tracking. at december 31, 2020, what is the estimated cost of missing inventory?
The estimated cost of missing inventory is $538,235.30. However, it's important to note that this is just an estimate and further investigation would be necessary to determine the actual cost of missing inventory.
To calculate the estimated cost of missing inventory, we need to use the retail inventory method. The retail inventory method is a way to estimate the cost of inventory by using the ratio of the cost of goods available for sale to the retail price of goods available for sale.
First, we need to determine the cost of goods available for sale. We know the ending inventory at cost is $1,050,000, but we don't have information on the cost of goods sold. However, we can use the retail inventory method to estimate the cost of goods sold.
Let's assume that the total cost of goods available for sale is $3,000,000 (this includes the ending inventory at cost plus the cost of goods sold). We also know that Jep's markup on cost is 32%, which means that the cost of goods is 68% of the selling price.
Using this information, we can calculate the total selling price of goods available for sale as follows:
Selling price = Cost / (1 - Markup on cost)
Selling price = $3,000,000 / (1 - 0.32)
Selling price = $4,411,765.96
Next, we need to calculate the cost of goods sold:
Cost of goods sold = Selling price x (1 - Gross margin ratio)
Cost of goods sold = $4,411,765.96 x (1 - 0.68)
Cost of goods sold = $1,411,764.70
Now we can calculate the estimated cost of missing inventory:
Estimated cost of missing inventory = Cost of goods available for sale - Ending inventory at cost - Cost of goods sold
Estimated cost of missing inventory = $3,000,000 - $1,050,000 - $1,411,764.70
Estimated cost of missing inventory = $538,235.30
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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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