In the following question, among the conditions given, the correct option is Answer: Option B) "Miguel can use the doctrine of the promissory estoppel to defend his right to find and sell his laptops to another buyer"
Promissory estoppel is a legal concept that binds one party to its promise when it has made a promise to another party who relied on it. In this case, Miguel made an offer to Nisha to sell 100 laptops for $50 each. But, before the acceptance of the offer by Nisha, Miguel found another buyer who was willing to pay $70 each for the laptops. So, he revoked his initial offer to Nisha.
However, the revocation mail did not reach Nisha because the mail services were temporarily halted due to the storm. Meanwhile, Nisha mailed her acceptance of the offer to Miguel. Now, the question arises about the validity of the offer and the acceptance.The doctrine of the promissory estoppel states that if one party makes a promise to another party and that promise is relied upon by the latter, then the promisor is prevented from revoking the promise. In this case, Nisha relied on Miguel's offer to buy the laptops at $50 each.
She accepted the offer and mailed the acceptance to Miguel. But, Miguel revoked his offer before the acceptance of the offer by Nisha. So, Nisha cannot sue Miguel as he has revoked his offer.However, Miguel can use the doctrine of the promissory estoppel to defend his right to find and sell his laptops to another buyer. Therefore, Option B is correct.
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assume that a company uses a general journal as well as special journals for sales, purchases, cash receipts, and cash payments. a sales return for credit on account would be recorded in the. a. cash receipts journal.b. cash disbursements journal.c. direct posting journal.d. sales journal.e. general journal.
A sales return for credit on account would be recorded in the sales journal. (option d)
The sales journal is a special journal used to record sales of merchandise on account. It typically includes columns for the date of the sale, the customer's name and account number, a description of the merchandise sold, the amount of the sale, and the terms of the sale.
If a customer returns merchandise for credit on account, this transaction would be recorded in the sales journal using a credit entry, which would reduce the customer's account balance. The sales journal is designed to simplify the recording of sales transactions and to facilitate the posting of these transactions to the general ledger.
While a sales return for credit on account would impact the customer's account balance, it would not involve cash receipts or cash disbursements, so it would not be recorded in the cash receipts journal or the cash disbursements journal.
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Answer: General Journal
Explanation: Only sales on account are recorded in the sales journal. Sales returns for credit on account would not be recoded in the sales journal, it would be recorded in the general journal.
what three elements are considered part of the promotional mix?
Explanation:
Three of the five promotional elements—advertising, sales promotion, and public relations—are often said to use mass selling. Mass selling refers to the promotional element that reaches out to groups of prospective buyers, rather than making individual contact with each potential buyer.
with a 35 percent marginal tax rate, would a tax-free yield of 6.4 percent or a taxable yield of 9 percent give you a better return on your savings?
A marginal tax rate is the rate of tax that applies to the last dollar of a taxpayer's income. This tax rate is calculated by dividing the amount of tax paid by the taxpayer by their taxable income.
The tax rate applied to an individual's income is determined by their income bracket, which is defined by their level of income. Taxable and tax-free yields: In the United States, interest earned from savings accounts, certificates of deposit (CDs), and other investments is generally taxable. This is referred to as taxable income because it is subject to income tax. The tax rate applied to this income is determined by the individual's income tax bracket. In contrast, tax-free income is income that is not subject to income tax. This may include interest earned on certain types of investments, such as municipal bonds. In this scenario, we are given a marginal tax rate of 35%. The question is whether a tax-free yield of 6.4% or a taxable yield of 9% would provide a better return on savings. Using the following formula, we can calculate the after-tax yield for each investment option: After-tax yield = pre-tax yield x (1 - marginal tax rate)Tax-free yield of 6.4%: After-tax yield = 6.4% x (1 - 0.35) After-tax yield = 4.16% Taxable yield of 9%: After-tax yield = 9% x (1 - 0.35) After-tax yield = 5.85% Thus, the taxable yield of 9% would provide a better return on savings at a marginal tax rate of 35%.
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Indicate whether each statement best describes the allowance method or the direct write-off method. Method List 1. Does not predict bad debts expense. 2. Accounts receivable on the balance sheet is reported at net realizable value. 3. The write-off of a specific account does not affect net income. 4. When an account is written off, the debit is to Bad Debts Expense. Usually does not best match sales and expenses because bad debts expense is not recorded until an account becomes uncollectible, which usually occurs in a period after the credit sale 6. Estimates bad debts expense related to the sales recorded in that period.
1. Direct - No estimation are made and bad debt expense are charged when an account is written-off.
The answers are mentioned below.
What is debt expense?Debt expense is the amount of interest that a business pays on any outstanding debt liabilities on its balance sheet. This can include any interest payments on short-term loans, long-term loans, bonds, and other debt instruments. Generally, debt expenses are recorded as an expense on the income statement, reducing the overall net income of the business.
2. Allowance - Account receivable is reported as Total - Allowance = Net
3. Allowance - The amount charged from receivable hits allowance account not income statement
4. Direct - The amount hits Income Statement
5. Direct - Sales is recorded in period of sales while Bad-debt is recorded when it is confirmed that it is bad
6. Allowance - It requires estimation of bad debt expenses
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Which of the following could be a logical or realistic accounting period for a business that is creating financial statements? (Check all that apply.)Multiple select question.one-yearone-monthsix-monthfive-year
A logical or realistic accounting period for a business creating financial statements could be one-year, one-month, six-month, or five-year. A one-year accounting period is most common and is recommended for most businesses.
This allows for a full year of financial statements that accurately reflect the business’s financial performance. A one-month accounting period is used by some businesses, such as those that require up-to-date information on a regular basis. A six-month accounting period is typically used by businesses that have seasonal sales, as this allows them to better track their financial performance during their peak seasons.
Finally, a five-year accounting period is used by businesses that have long-term investments or contracts. This allows for a comprehensive view of the business’s financial performance over the long term.
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Organizations often use surveys to determine how their employees feel about proposed changes before they happen. These surveys are distributed in the _________ part of the change process.
a. change
b. unfreezing
c. refreezing
Organizations often use surveys to determine how their employees feel about proposed changes before they happen. These surveys are distributed in the unfreezing part of the change process. The correct answer is option b.
What is Unfreezing in Change Management?In the change management process, unfreezing is the initial phase. It involves getting individuals to understand why a change is necessary and begin to make plans to adjust to the new environment. This stage entails preparing the company for change, assessing the degree of change that must occur, and deciding which behaviors and actions should be modified in order to accomplish the objectives.The purpose of the unfreezing phase is to identify the changes that must be made and to explain why they are necessary. This step should include the creation of a sense of urgency among employees so that they will be more receptive to the forthcoming changes. If people are resistant to change, it is vital to communicate with them and make them aware of the need for change.
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when writing an internal memo to her statistics research company about maintaining professional integrity, marissa reminds her employees to always use proper citations but to also protect their clients and themselves from issues by responses a. anonymizing and protecting data.
b. not considering the purpose and relevance of the data. c. synchronizing and protecting data. d. never disclosing the results of their data analysis.
Marissa aims to protect their clients and themselves from issues by anonymizing and protecting data. This is a practice of data anonymization in the business communication.
What is data anonymization?
Data anonymization, in the business communication, is the process of protecting sensitive or private information by removing or encoding identifiers that connect specific people to the data that is being stored. It is done to maintain the validity of the information gathered and shared while protecting an individual's or company's private behaviour.
One method that businesses can utilise to comply with stringent data privacy laws that demand the security of personally identifiable information (PII), such as medical records, contact information, and financial information, is data anonymization.
Attackers can employ de-anonymization techniques to track back the process of data anonymization even after the identifiers' data has been cleared.
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an accounting information system (ais) must include certain source documents in order to control purchasing and accounts payable. for a manufacturing organization, the best set of documents should include
In an accounting information system (AIS), certain source documents must be included in order to control purchasing and accounts payable. For a manufacturing organization, the best set of documents would include the following purchase requisition, purchase order, and receiving report invoice.
1. Purchase requisition: The request for materials or goods that will be needed for production is known as a purchase requisition. It's normally generated by the purchasing department or a department that has been approved to make purchases.
2. Purchase order: The document that authorizes the supplier to deliver the goods and the terms under which the delivery will take place is known as a purchase order. It's generally sent to the vendor following the creation of the purchase requisition.
3. Receiving report: When products are delivered, a receiving report is created. It identifies the receipt of goods and serves as evidence that the goods were received in the proper condition and amount.4. Invoice:Finally, the vendor will send an invoice after the goods have been delivered. It includes the details of the order, as well as the total sum due for the products. This is utilized by the accounting department to record the bill in the accounting system.
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In the context of entrepreneurial orientation, an organization with a tendency of _____ grants individuals and teams the freedom to exercise their creativity, champion promising ideas, and carry them through to completion.
Multiple Choice
innovativeness
competitive aggressiveness
proactiveness
independent action
risk taking
In the context of entrepreneurial orientation, an organization with a tendency for innovativeness grants individuals and teams the freedom to exercise their creativity, champion promising ideas, and carry them through to completion.
What is entrepreneurial orientation?
Entrepreneurial orientation refers to a firm's strategic practices and the extent to which they relate to entrepreneurship. It is often regarded as a characteristic of company culture, with numerous components that can influence how a company approaches new ventures and innovation.
It involves a set of behavioral qualities that include innovation, risk-taking, proactiveness, autonomy, and competitive aggressiveness, among others. It is frequently associated with the development of new products, services, and technologies and is regarded as a key determinant of company success. It can be seen as an approach that encourages firms to be more innovative, to take risks, and to be proactive in their decision-making.
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A portable hair dryer on the conducts 15-5/8 amperes (1875 watts). What is the effective resistance of the heating element and motor? Assume the 12.5 amperes flows through the heating element, what is the effective resistance of the heating element? How much is the effective resistance of the motor. Note the motor can operate independently of the heating element as a cool down setting.
The effective resistance of the heating element is 0.833 Ohms while the effective resistance of the motor is 1.146 Ohms when a portable hair dryer conducts 15-5/8 amperes (1875 watts).
Current through heating element = 12.5 amperes
Current through motor = (15-5/8) - 12.5 = 3.125 amperes
Power consumption = 1875 watts
Power = Current × Voltage
Where Voltage is constant (V= 120 V)
Resistance = Voltage / Current
A heating element has a power of P = 1875 W and a current of 12.5 A.
Resistance of heating element = Voltage / Current= 120 / 12.5= 9.6 Ohms
The power of the motor (independent operation) is:
P = 1875 W - P_heating element = 1875 W - 12.5 A × 120 V = 1575 W
The current is i = 3.125 A.
Resistance of motor = Voltage / Current= 120 / 3.125= 38.4 Ohms
Effective resistance, however, should take into account the effect of internal resistance.
Effective resistance = Voltage / Total current
The effective resistance of the heating element and motorEffective resistance = 120 / 15-5/8 = 120 / 15.625= 7.68 Ohms
The effective resistance of the heating element
Effective resistance = Voltage / Current= 120 / 12.5= 9.6 Ohms
Effective resistance = Voltage / Current= 120 / 3.125= 38.4 Ohms
The effective resistance of the heating element is 0.833 Ohms while the effective resistance of the motor is 1.146 Ohms.
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When the owners of Crepes a la Nana arrive at the brunch they were booked to cater, they are greeted by an angry customer. He claims they are late, but MaryAnn insists they are on time. Nana, not wanting to focus on who is right or wrong, steps in to communicate a new plan. Which rule of service recovery is Nana demonstrating?Fix the customer's problem—act fast and take ownership.Fix the customer's problem—treat customers with respect.Fix the customer's problem—compensate the customer appropriately.Fix the company's problem: make sure it does what it says it will actually do
Nana is demonstrating the rule of service recovery to "Fix the customer's problem—act fast and take ownership." Instead of focusing on who is right or wrong,
What is the rule of service recovery about?The rule of service recovery is a set of guidelines that businesses use to handle customer complaints or problems.
The goal of service recovery is to address customer concerns in a way that turns a negative experience into a positive one.
Therefore, Nana takes immediate action to communicate a new plan that will resolve the customer's issue and ensure the brunch is successful. By doing so, Nana demonstrates a willingness to take ownership of the situation and quickly address the customer's concerns.
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accounts payable, accrued expenses, 2-year notes payable, and 90-day notes are all short-term liabilities. true false
The statement "Accounts payable, accrued expenses, 2-year notes payable, and 90-day notes are all short-term liabilities" is true. Short-term liabilities are defined as liabilities that are expected to be paid within one year, or within the operating cycle of the business (whichever is longer).
Accounts payable are defined as the amount of money a company owes its suppliers for goods or services received on credit. These are typically due within 30 days and are considered short-term liabilities.
Accrued expenses are expenses that have been incurred but have not yet been paid. These can include salaries, rent, interest, and taxes. These are also considered short-term liabilities because they are typically due within a few weeks.
2-year notes payable are liabilities that are due in two years. However, since they are short-term liabilities, they can also be paid earlier than two years. As such, they are considered short-term liabilities.
90-day notes payable are liabilities that are due within 90 days. As such, these are considered short-term liabilities as well. In conclusion, the statement "Accounts payable, accrued expenses, 2-year notes payable, and 90-day notes are all short-term liabilities" is true.
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which of the following terms is used to identify the process of expense recognition for property, plant and equipment? multiple choice amortization depreciation depletion revision
The term used to identify the process of expense recognition for property, plant, and equipment is depreciation.
What is depreciation?Depreciation refers to the method of allocating the cost of a tangible asset over its useful life. It is a process that is used to recognize the cost of an asset over the number of periods that it provides value.
Depreciation is most frequently used in accounting to depreciate a company's fixed assets, such as property, plant, and equipment. Depreciation, which is a key component of a business's long-term financial performance, is used to determine the asset's remaining value over time. As a result, it aids in the calculation of the book value of an asset on a company's balance sheet over time. Depreciation, in other words, refers to the allocation of an asset's cost to expense throughout the asset's useful life.
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With reference to the Big Five Model, which of the following is a difference between highly agreeable and less agreeable people?
A) Highly agreeable people tend to do better in interpersonally oriented jobs than less agreeable people.
B) Highly agreeable people are less compliant and less rule abiding than less agreeable people.
C) Highly agreeable people tend to be less satisfied in their jobs than less agreeable people.
D) Highly agreeable people engage in less organization citizenship behavior than less agreeable people.
E) Highly agreeable people have more tendency to engage in organizational deviance than less agreeable people.
According to the Big Five Model, the difference between highly agreeable and less agreeable people is that highly agreeable people tend to do better in interpersonally oriented jobs than less agreeable people. Therefore, option A is correct.
The Big Five model refers to personality traits that help distinguish individuals based on their personality characteristics. The five major personality dimensions in the Big Five Model are openness, conscientiousness, extraversion, agreeableness, and neuroticism.
Highly agreeable people tend to do better in interpersonally oriented jobs than less agreeable people is the difference between highly agreeable and less agreeable people with reference to the Big Five Model.Highly agreeable people are usually compassionate, cooperative, and affectionate. They are typically sympathetic and friendly toward others. They are agreeable and strive to build interpersonal relationships. In general, these individuals are less likely to cause conflict and are less aggressive.
Less agreeable people, on the other hand, may be hostile, confrontational, and uncooperative. They are not as concerned with interpersonal relationships and are more self-centered. They are not as collaborative as agreeable individuals and may cause conflict with others.Thus, it is clear that highly agreeable people tend to do better in interpersonally oriented jobs than less agreeable people. This is because they are better at building and maintaining relationships with others, which is crucial in interpersonal professions such as customer service or sales.
Hence, option A is correct.
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as part of the assessment of control risk, the auditor decided to use audit sampling. after specifying the audit objectives, what would the auditor most likely do next?
In order to assess control risk, the auditor has decided to use audit sampling. After specifying the audit objectives, the auditor will most likely next define the population from which the sample is to be selected, select the sample from that population, and then evaluate the results of the sample.
Control Risk:As part of the assessment of control risk, the auditor decided to use audit sampling. After specifying the audit objectives, the auditor most likely determines the sample size and selects the sample. Whenever audit sampling is utilized, the auditor should specify the audit objectives for the sample being selected. The objectives provide criteria for the evaluation of sample outcomes, and they determine the sample size and sample characteristics.
The sample should be representative of the population being sampled, and the sample's characteristics should be consistent with the audit objectives.
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a small accounting firm has 4 44 accountants who each earn a different salary between 52 , 000 52,00052, comma, 000 dollars and 58 , 000 58,00058, comma, 000 dollars. for extra help during tax season, they hire a 5 th 5 th 5, start superscript, start text, t, h, end text, end superscript accountant who earns 10 , 000 10,00010, comma, 000 dollars. [show data] how will hiring the 5 th 5 th 5, start superscript, start text, t, h, end text, end superscript accountant affect the mean and median? choose 1 answer: choose 1 answer:
A. Both the mean and median will increase, but the median will increase by more than the mean. B. Both the mean and median will increase, but the mean will increase by more than the median. C. The mean will increase, and the median will decrease. D. The median will increase, and the mean will decrease.
The mean will increase, and the median will not change when a fifth accountant is hired with a $10,000 salary during the tax season. Therefore, the correct answer is option B: Both the mean and median will increase, but the mean will increase by more than the median.
Mean and Median of a Data SetThe median of a set of data is the value that is located in the center when the data are arranged in numerical order. Half of the observations lie above the median, and half lie below it.
To find the median of a data set, we arrange the observations in numerical order and then locate the median using the following rule:
If the number of observations is odd, the median is the middle value. If the number of observations is even, the median is the average of the two middle values.The mean of a set of data is the sum of the observations divided by the total number of observations. The mean is sensitive to the value of any outlier, i.e., a value far from the others in a set of data.The given problem suggests that a small accounting firm has 4 accountants whose salaries are between $52,000 and $58,000. During tax season, they hired a fifth accountant who earns $10,000.
Let us calculate the mean and median of the salaries of five accountants, including the one hired during tax season.
Salary of 1st accountant = $52,000
Salary of 2nd accountant = $53,000
Salary of 3rd accountant = $55,000
Salary of 4th accountant = $58,000
Salary of 5th accountant = $10,000
Let's compute the mean and median salaries.
Meansalary=(52,000+53,000+55,000+58,000+10,000)/5= $45,600
Median salary = $53,000
We observe that the mean salary of accountants increased from $54,500 ($218,000/4) to $45,600 ($228,000/5) when the fifth accountant was hired.
This is because the addition of the fifth accountant's lower salary reduced the mean value.The median of the salaries remained unaffected, and it is $53,000, which is the middle value of the five salaries.
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marketing occurs when firms market to organizations that acquire goods and services in the production of other goods and services that are then sold or supplied to others. true or false?
Marketing occurs when firms market to organizations that acquire goods and services in the production of other goods and services that are then sold or supplied to others is true.
What is marketing?
Marketing is the process of creating, planning, implementing, and promoting ideas, goods, and services to meet the needs of customers with the aim of satisfying them and earning revenue for the organization. According to the definition, it is defined as the process of identifying and satisfying customer needs while also earning a profit. The first step in marketing is to recognize the need or requirement of the customer, then create and produce the product that fulfills the customer's requirement, and finally, to deliver the product or service to the customer.The marketing process is used to promote the product or service to potential customers in order to generate demand and increase sales. This process involves product pricing, promotion, distribution, and packaging, among other things. Marketing strategies are used to determine the best way to market a product or service in order to reach the target audience and achieve sales objectives. It is aimed at increasing the sales of the organization, and it aims to ensure that the product or service is readily available and accessible to the customers.Marketing to organizations that acquire goods and services in the production of other goods and services that are then sold or supplied to others is referred to as business-to-business (B2B) marketing. B2B marketing entails promoting goods or services to other companies rather than to end-users or consumers. This approach is employed by firms that produce goods and services for sale to other companies. Therefore, the statement "Marketing occurs when firms market to organizations that acquire goods and services in the production of other goods and services that are then sold or supplied to others" is true.
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Crane Company has two divisions: Sporting Goods and Sports Gear. The sales mix is 55% for Sporting Goods and 45% for Sports Gear. Crane incurs $6670000 in fixed costs. The contribution margin ratio for Sporting Goods is 30%, while for Sports Gear it is 50%. The weighted average contribution margin ratio is 40% 30% 41% 39%
The weighted average contribution margin ratio for Crane Company's Sporting Goods and Sports Gear divisions is 39. The correct option is D.
How to calculate the weighted average contribution margin ratio for Crane Company's Sporting Goods and Sports Gear divisions?A company's contribution margin ratio is calculated by dividing its contribution margin by its total revenue. This ratio is utilized to determine the contribution margin in relation to the company's revenue. Here is how to calculate the weighted average contribution margin ratio:
Contribution Margin Ratio = (Contribution Margin ÷ Sales) × 100
As per the given problem, we are provided with the following details:
The sales mix is 55 for Sporting Goods and 45 for Sports Gear.
Fixed costs for the company are 6,670,000.
The contribution margin ratio for Sporting Goods is 30, while for Sports Gt is 50.
Now, we can compute the contribution margin for each of the divisions as follows:
Contribution margin for Sporting Goods = (55/100) × (30/100) × Sales
Contribution margin for Sports Gear = (45/100) × (50/100) × Sales
Total contribution margin = Contribution margin for Sporting Goods + Contribution margin for Sports Gear
By substituting the given values, we get:
Total contribution margin = (55/100) × (30/100) × Sales + (45/100) × (50/100) × Sales= 0.55 × 0.30 × Sales + 0.45 × 0.50 × Sales = 0.165S + 0.225S = 0.39S.
Here, S represents Sales.
Therefore, the total contribution margin is 0.39S.
We can now calculate the weighted average contribution margin ratio using the given formula as follows:
Weighted average contribution margin ratio = (Total contribution margin ÷ Total sales) × 100
By substituting the values, we get:
Weighted average contribution margin ratio = 0.39ΔS × 100 = 39%
Hence, the weighted average contribution margin ratio for Crane Company's Sporting Goods and Sports Gear divisions is 39.
Therefore, the correct option is D.
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Mark runs a driving range in New York City. He has taken notice of the three competitors who are located very close to his business. Mark decides to look at his competitors' pricing and then determine his best pricing strategy based on all of the information. In this scenario, Mark is utilizing _____. value pricing competitor-based pricing price skimming target ROI penetration pricing
In this scenario, Mark is utilizing competitor-based pricing.
Mark runs a driving range in New York City. He has taken notice of the three competitors who are located very close to his business. Mark decides to look at his competitors' pricing and then determine his best pricing strategy based on all of the information.
Competitor-based pricing is a pricing strategy in which a company's pricing decisions are heavily influenced by the pricing decisions of competitors. In general, companies that use this strategy will set prices at or near the same price as their competitors.
This can be done in order to prevent losing customers to competitors or to attract customers who are looking for lower prices. Mark can keep the prices of his driving range based on the prices of his competitors to attract more customers to his driving range. Its strategy of Mark is competitor-based pricing.
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vesting rights refer to nonforfeitable rights to retirement benefits. question 4 options: true false
The statement "Vesting rights refer to nonforfeitable rights to retirement benefits" is true because it refers to the rights given to a worker that guarantee them access to a portion or all of their pension benefits.
The employees are entitled to their retirement benefits after the vesting period, regardless of whether they continue working for the company. When they resign or retire, they can claim their vested pension benefits.
Why is it significant to vesting rights?Vesting is essential since it guarantees that employees who spend their careers with a firm can receive a portion of their pensions when they retire. They don't lose everything if they don't stay with the company, as they would if there weren't vesting provisions.
Vesting provides long-term retirement security, ensuring that workers have some savings to supplement their Social Security income when they retire. Vesting has become increasingly important as workers have become more mobile and as the number of employer-sponsored pensions has declined.
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the initial step in the risk management process is to
The first step in the risk management process is to identify any incident that can potentially have an adverse (risk) or advantageous (opportunity) influence on the project's goals.
The necessary steps are laid out in the risk management process. The risk management process, which is used to manage risk, is made up of these five essential components. A strategy for determining risks and opportunities, how they might affect a project or organization, and how to deal with them is the risk management process. Structures for risk management are made to do more than just identify current threats. The uncertainties should be measured and their impact on a corporation should be anticipated using a competent risk management strategy.
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Jill is writing a business plan for a small home based operation. If well written, the business plan will assist her in determining ifa. the business aligns with personal goals.
b. an investor would be a perfect fit for the proposed company.
c. suppliers can be found for the operation.
d. outsiders can be made into insiders.
Writing a well-crafted business plan for her small home-based operation will aid Jill in evaluating whether the business is aligned with her personal goals. Thus, Option A is correct.
What is a Business Plan?A business plan is a formal document that describes in detail the nature of the business, the sales and marketing strategy, and the financial background. It includes an executive summary, a company summary, a products or services overview, a market analysis, a strategy, a management summary, and a financial plan. Business plans are created as a way for businesses to outline their goals and objectives, as well as how they plan to achieve them.
Business plans are also a way to attract investors or potential partners. In this question, Jill is writing a business plan for a small home-based operation. If well written, the business plan will assist her in determining if the business aligns with personal goals. Therefore, option A is correct, as a business plan can help her determine if the business aligns with her personal goals.
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When reporting on a nonissuer's internal control over financial reporting in a separate report, a practitioner should include a paragraph that describes the
A.
Documentary evidence regarding the control environment factors.
B.
Changes in the internal control structure since the prior report.
C.
The practitioner's responsibility to detect material misstatements in account balances.
D.
The criteria against which the internal control was measured.
SHOW CORRECT ANSWER
When reporting on a nonissuer's internal control over financial reporting in a separate report, a practitioner should include a paragraph that describes the criteria against which the internal control was measured. The correct answer is option D, the criteria against which the internal control was measured.
When a practitioner is reporting on a nonissuer's internal control over financial reporting in a separate report, they should include a paragraph that describes the criteria against which the internal control was measured. Criteria are the measures or standards used to assess the nonissuer's internal control over financial reporting by the practitioner. The criteria are necessary to ensure that the internal control system is reliable and effective.
The practitioner must identify the criteria they used to assess the effectiveness of the nonissuer's internal control over financial reporting. The paragraph describing the criteria should also highlight the fact that the criteria are being used to assess the system's effectiveness and determine whether there are any material misstatements in the account balances. As a result, option D is the correct answer to the question.
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xyz is an annual bond that pays a coupon rate of 4%. what payment would you expect to receive every year?
If xyz is an annual bond that pays a coupon rate of 4%, the payment that you would expect to receive every year would depend on the: face value of the bond.
The face value is the amount that the bondholder will receive upon maturity.
To calculate the annual payment, you would need to multiply the face value of the bond by the coupon rate. This would give you the annual interest payment that the bondholder would receive.
The formula to calculate the annual payment is:
Annual payment = Face value x Coupon rate
For example, if the face value of the bond is $1000, and the coupon rate is 4%,
the annual payment would be:
Annual payment = $1000 x 0.04
Annual payment = $40
Therefore, you would expect to receive $40 every year as the payment for the bond.
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the price of a preferred stock is $42. it pays a dividend of $5. calculate the required return: correct answer 11.9% you answered 8.4% 0.119% 8%
The required return for a preferred stock with price $42 and dividend $5 is 11.9%. Hence, the correct option is A.
Preferred stock are types of stock equity that represents an ownership in a company as well as the right to claim income from the company's operations. Preferred stockholders have a higher claim on distributions (e.g. dividends) than common stockholders.
The required return for a preferred stock is calculated by dividing the dividend by the stock price.
In this case, the stock price of the preferred stock is $42 and dividend paid is $5.
Hence, the required return is calculated as:
Required return = Dividend / Stock Price
Required return = $5 / $42
Required return = 0.119 or 11.9%
Therefore, the required return of the preferred stock is 11.9%. Hence, option A is correct.
Note: The question is incomplete. The complete question probably is: The price of a preferred stock is $42. It pays a dividend of $5. Calculate the required return: A) 11.9% B) 8% C) 0.119% D) 8.4%.
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what was the effect of the great recession on the middle class? a. more middle class american found themselves richer. b. more middle class american found themselves poor. c. more middle class american found themselves with new job opportunities. d. more middle class americans were sent overseas.
the effect of the great recession on the middle class is b. more middle class American found themselves poor.
What was the Great Recession?The Great Recession was a global economic downturn that began in late 2007 and continued until mid-2009. It was triggered by a series of factors, including the collapse of the housing market, the subprime mortgage crisis, and the failure of many large financial institutions, such as Lehman Brothers.
The crisis quickly spread to other sectors of the economy, including manufacturing, services, and retail. As a result, millions of people around the world lost their jobs and were pushed into poverty.
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securities with maturities of one year or less are classified as a. capital market instruments. b. preferred stock. c. money market instruments. d. none of these choices are correct.
Securities with maturities of one year or less are classified as C. Money Market Instruments. Money market instruments are short-term debt instruments with a maturity period of less than one year.
What are money market instruments?Money market instruments are short-term, highly liquid, and low-risk debt securities. They are highly marketable instruments that are used by participants as a means of providing short-term financing. Money market instruments can be used by individuals, businesses, and governments to invest their money for short periods of time.
Money market instruments have a maturity of less than one year and are highly marketable. Treasury bills, certificates of deposit, commercial paper, banker's acceptances, and repurchase agreements are examples of money market instruments.
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Kingbird, Inc. Iras an opening balance in its supplies account of $2740 and purchases $3420 of supplies during the year. A year-end physical count'shows $3190 in supplies inventory. Which is the appropriate journal entry at year end? O Dr Supplies $3420 Cr Cash $3420 O Dr Supplies $2970 Cr Supplies Expense $2970 O Dr Supplies Expense $3190 Cr Supplies $3190 O Dr Supplies Expense $2970 Cr Supplies $2970
The appropriate journal entry at year end would be:
Dr. Supplies Expense $3230, Cr. Supplies $3230
A supplies account is an accounting account used to track the cost of supplies, materials, and other consumables used in a business or organization.
It is used to record the initial balance of supplies, purchases of supplies during the year, and any adjustments made for ending inventory of supplies.
The supplies account was opened with a balance of $2740 and $3420 was purchased during the year. Therefore, the total amount of supplies available during the year was $6160 ($2740 + $3420).
However, the year-end physical count shows only $3190 in supplies inventory. This means that $2970 ($6160 - $3190) of supplies were used during the year.
Therefore, the appropriate journal entry at year end would be to debit Supplies Expense for $2970 and credit Supplies for $2970.
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If the government imposes a ceiling price on apartment rents, we would expect to observe all of the following except one. Which is the exception?
A. Conversion of some apartment complexes to condos
B. A shortage
C. An increase in the number of new apartment complexes being built
D. Lower maintenance of existing apartments
E. Long waiting lists for apartment seekers supply; movement along the supply curve both cause shortages.
If the government imposes a ceiling price on apartment rents, we would not expect "an increase in the number of new apartment complexes being built". Option C is the correct answer.
A price ceiling is a government-imposed limit on how high a price can be charged for a product. A price ceiling is set below the equilibrium price, resulting in a shortage of goods or services at the stated price. A price ceiling may be imposed on a variety of goods and services by the government to ensure that a large number of people can afford to access the said good or service. The government would rather spend money to give everyone access to it than allowing individuals to buy it for themselves.
As per the given case, if the government imposes a ceiling price on apartment rents, we would not expect an increase in the number of new apartment complexes being built.
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the curve becomes flatter as the amount of capital per worker increases because of a. increasing returns to capital. b. diminishing returns to capital. c. increasing returns to labor. d. diminishing returns to labor.
The curve becomes flatter as the amount of capital per worker increases because of Diminishing returns to capital.
What is the curve?The curve refers to the production function that represents the relationship between the output of a good and the number of inputs that are used to produce it. In this scenario, the production function is used to describe how the amount of capital used in production influences output.
Diminishing returns to the capital as the amount of capital used in production increases, the production function initially experiences increasing returns to capital. Output per worker increases as additional capital is added to the production process. However, at some point, the production function experiences diminishing returns to capital. The production function demonstrates that as the amount of capital per worker increases, the resulting increase in output decreases, indicating diminishing returns to capital.
This implies that as the amount of capital per worker continues to increase, the additional increase in output that results from adding another unit of capital per worker would be less than what was achieved with the preceding unit of capital per worker. Hence, the curve becomes flatter as the amount of capital per worker increases because of diminishing returns to capital. Therefore the correct option is c.
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