In Scrum, there are four distinct phases that are used to create specific features. These phases include Design, Analysis, Build, and Sprint.
How does each phase work?During the Design phase, the team works to identify the specific requirements for the feature and create a plan for how it will be developed.
In the Analysis phase, the team further refines these requirements and ensures that they align with the overall goals of the project.
During the Build phase, the team actually creates the feature, testing and iterating as necessary to ensure that it meets all requirements.
Finally, in the Sprint phase, the feature is released to stakeholders and feedback is gathered to inform future development.
By following these phases, Scrum teams are able to create features that meet the needs of their customers and stakeholders while remaining flexible and responsive to changing requirements.
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Luke Enterprises has 300,000 shares of $20 par common stock outstanding. On January 19, Luke Enterprises declared a 3% stock dividend. The market price of the stock on January 19 was $28 per share. The journal entry to record the stock dividend would include
The effects on the company's financial statements and the stock dividend declared by Luke Enterprises are clearly depicted in this journal entry. The journal entry to record the stock dividend for Luke Enterprises would be as follows:
Debit: Retained Earnings: $840,000 ($20 x 300,000 shares x 3%)
Credit: Common Stock Dividend Distributable: $180,000 ($20 x 300,000 shares x 3%)
Credit: Paid-In Capital in Excess of Par: $660,000 ($8 x 300,000 shares x 3%)
The common stock dividend distributable account is used to temporarily hold the dividend until it is distributed to the shareholders. The paid-in capital in excess of par is used to record the increase in equity resulting from the market value of the dividend. Therefore, this journal entry records the stock dividend declared by Luke Enterprises and properly accounts for the impact on the company's financial statements.
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Nationwide Mutual Insurance Company (Nationwide) planned to hold a regional convention to boost morale and recognize employee achievements. A planning committee decided to have a contest to determine a theme for the convention and ran an announcement that included the following:
Here's what you could win:
His and Hers Mercedes
An all-expense-paid trip for two around the world
Additional prize to be announced ...
(All prizes subject to availability)
Only two rules apply
1. The slogan is limited to not more than eight words.
2. All entries must be submitted … by August 1, 1993.
Mears, a claims adjuster for Nationwide, submitted several themes and, several months later, left Nationwide. In October 1993, Mears was notified that his theme had been chosen for the convention. In January, Mears inquired about his Mercedes. He was told he might not get them for three reasons: (1) Nationwide might change the theme, (2) Mears was no longer an employee, and (3) the contest was a joke. His theme was used for the convention. Afterwards, Mears was informed that Nationwide never intended to award the Mercedes and offered him a restaurant gift certificate instead. Mears sued for breach of contract. Was there sufficient evidence of intent to form a binding contract?
it does not appear that there was sufficient evidence of intent to form a binding contract between Nationwide and Mears regarding the contest and the prizes it offered.
Firstly, the announcement stated that all prizes were subject to availability, which suggests that Nationwide did not intend to be bound to award any specific prizes. Additionally, the announcement did not provide any details regarding the process for selecting a winner or the criteria that would be used to evaluate entries, which further suggests that the contest was meant to be a casual, non-binding event.
Furthermore, Mears left Nationwide several months after submitting his entries and did not receive any confirmation or acknowledgement from Nationwide regarding his submission until several months after that. This delay, combined with the lack of any formal communication or documentation regarding the contest or its rules, undermines any claim that a binding contract was formed.Finally, the fact that Nationwide informed Mears that the contest was a joke and that it never intended to award the Mercedes further undermines any argument that a binding contract was formed.
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Suppose you bought a 16 percent coupon bond one year ago for $1,130. The bond sells for $1,190 today. What is your realized return if you sell the bond today
The realized return if the bond is sold today is 19.47%.
To calculate your realized return for selling the 16% coupon bond after one year, you need to consider both the capital gain and the interest received.
1. Calculate the capital gain: Subtract the purchase price from the current selling price.
Capital gain = $1,190 - $1,130 = $60
2. Calculate the annual interest payment: Multiply the bond's face value (assumed to be $1,000) by the coupon rate (16%).
Interest payment = $1,000 * 0.16 = $160
3. Add the capital gain and the interest payment to find the total return.
Total return = Capital gain + Interest payment = $60 + $160 = $220
4. Calculate the realized return by dividing the total return by the purchase price, then multiply by 100 to get the percentage.
Realized return = (Total return / Purchase price) * 100
Realized return = ($220 / $1,130) * 100 = 19.47%
So, your realized return for selling the 16% coupon bond after one year is 19.47%.
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A stock is expected to pay a dividend next year of $1.9. The dividend amount is expected to grow at an annual rate of 6.4% indefinitely. Assuming a required return on the stock of 9.2% in the future, the dividend yield on the stock is
The dividend yield on a stock is the dividend payment in the next year divided by the current stock price. the dividend yield on the stock is 4.27%.
We can use the dividend discount model to find the current stock price.
The dividend discount model states that the current stock price (P) is equal to the expected dividend payment in the next year (D1) divided by the difference between the required return (r) and the dividend growth rate (g):
P = D1 / (r - g)
Plugging in the given values, we get:
D1 = $1.9
r = 9.2%
g = 6.4%
P = $1.9 / (0.092 - 0.064) = $44.44
So, the current stock price is $44.44.
The dividend yield on a stock is the dividend payment in the next year divided by the current stock price
Now, we can calculate the dividend yield:
Dividend yield = D1 / P = $1.9 / $44.44 = 0.0427 or 4.27%
Therefore, the dividend yield on the stock is 4.27%.
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Sam and Betty Taylor maintain a home and they have two children. Their earned income in 2020 was $25,000 and adjusted gross income was $27,000. They file a joint return. What is the amount, if any, of their earned income tax credit for the year
Sam and Betty Taylor may be eligible for the earned income tax credit (EITC) for the year 2020. The EITC is a tax credit designed to help working families with low to moderate income.
The exact amount of the credit depends on the taxpayer's income, filing status, and number of children.
For the Taylor family, the maximum credit amount for 2020 would be $5,920 with two qualifying children. However, the credit is phased out gradually as income increases. Since their earned income is below the maximum limit for the credit, they may receive the full amount of the credit or a portion of it.
To determine the exact amount of the EITC, Sam and Betty should use the EITC Assistant tool on the IRS website or consult with a tax professional. It is important to note that the EITC is a refundable credit, which means that if the credit amount exceeds the taxes owed, the taxpayers can receive the difference as a refund.
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During the process of ________, the owner may abandon the property because the rents that can be collected are less than the costs involved in upkeep. urban blight gentrification filtering redlining blockbusting
Gentrification is a process where neighborhoods undergo significant changes, typically characterized by the influx of more affluent residents and an increase in property values.
Blockbusting is a related term that refers to a practice where real estate agents would encourage white homeowners to sell their properties at a low price, by claiming that people of color were moving into the area and would cause property values to decline. This unethical practices was used to profit off of racial fears and prejudices and contributed to the segregation of neighborhoods. The term "redlining" refers to a practice where banks and other lenders would refuse to provide loans or other financial services to people in certain neighborhoods, often based on race or ethnicity. This practice further exacerbated economic inequality and made it difficult for people in these neighborhoods to build wealth and invest in their communities."Filtering" is a process where properties become more affordable over time, as they age and newer, more expensive properties are built. This process can lead to lower-income residents being able to access housing in areas that were previously unaffordable, but it can also lead to neglect of older properties and disinvestment in neighborhoods.
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Which of the following areas does not make significant use of time value of money​ concepts? Question content area bottom Part 1 A. Capital investment analysis B. Lending and borrowing C. Marketing research D. Personal finance planning
The area that does not make significant use of time value of money concepts is C. Marketing research.
Marketing research focuses on studying consumer behavior, market trends, and competitors' strategies to develop effective marketing plans. While time is a crucial factor in marketing, it does not necessarily involve calculations of future cash flows or the effects of interest rates on investments, which are central to the concept of time value of money.
On the other hand, capital investment analysis, lending and borrowing, and personal finance planning all heavily rely on the principles of time value of money to make informed decisions about investments, loans, and savings. In short, time value of money is a critical concept in finance and related areas, but it may not be as relevant in other fields such as marketing research.
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A software vendor pitches a new sales force automation software product to your​ company's VP of Sales and Marketing. Before purchasing such a​ product, it is essential​ to:
Before purchasing a new sales force automation software product, it is essential to consider factors such as the software's features, compatibility with existing systems, cost, vendor reputation, and customer support.
It is also important to conduct a thorough evaluation of the software during a trial period or demo to ensure that it meets the specific needs and requirements of the company's sales and marketing teams. Additionally, it is recommended to consult with IT professionals and other stakeholders within the company to ensure that the implementation process is seamless and successful.
Before purchasing such a product, it is essential to:
1. Identify your company's specific needs and requirements for sales force automation. 2. Evaluate the software vendor's credibility, reputation, and track record in the industry. 3. Request a product demonstration to assess the software's user interface, features, and compatibility with your existing systems. 4. Obtain references from other companies that have implemented the vendor's software and gather feedback on their experiences. 5. Determine the total cost of ownership, including software licensing, implementation, training, maintenance, and support. 6. Review the vendor's customer support and service levels to ensure they meet your company's expectations. 7. Assess the scalability and flexibility of the software to accommodate future business growth and evolving requirements. By taking these steps, you can make a well-informed decision when considering a new sales force automation software product for your company.
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Wendy Corporation issued $100,000, 12%, 5-year bonds on January 1, 20x1, for $92,280. The bonds will yield a 12% return. Interest is paid semiannually on January 1 and July 1. The first interest payment is July 1, 20x1. Using the straight-line method, how much interest expense will Wendy record on July 1, 20x1
Wendy Corporation issued $100,000, 12%, 5-year bonds on January 1, 20x1, for $92,280. This means that the bonds were issued at a discount of $7,720 ($100,000 - $92,280) which is the difference between the face value of the bonds and the amount paid by investors.
The bonds will yield a 12% return, which means that the annual interest paid on the bonds will be $12,000 ($100,000 x 12%). Interest is paid semiannually on January 1 and July 1, which means that each interest payment will be $6,000 ($12,000 / 2). The first interest payment is due on July 1, 20x1, which means that Wendy's Corporation will need to record interest expense for the period from January 1, 20x1, to July 1, 20x1. To calculate the interest expense using the straight-line method, we need to first calculate the total interest expense over the life of the bonds.
The total interest expense over the life of the bonds can be calculated as follows:
Total interest expense = (Face value of bonds x Interest rate x Time) - Discount
Where:
Face value of bonds = $100,000
Interest rate = 12%
Time = 5 years
Discount = $7,720
Plugging in the values, we get:
Total interest expense = ($100,000 x 12% x 5) - $7,720 = $52,28
This means that Wendy's Corporation will record a total interest expense of $52,280 over the life of the bonds.
To calculate the interest expense for the period from January 1, 20x1, to July 1, 20x1, we need to first calculate the total interest expense for the first year of the bond issuance. Since the bonds were issued on January 1, 20x1, the first year of the bond issuance will run from January 1, 20x1, to December 31, 20x1.
The total interest expense for the first year of the bond issuance can be calculated as follows:
Total interest expense for first year = (Face value of bonds x Interest rate) - (Face value of bonds x Discount rate)
Where:
Face value of bonds = $100,000
Interest rate = 12%
Discount rate = Discount / Time = $7,720 / 5 = $1,544
Plugging in the values, we get:
Total interest expense for first year = ($100,000 x 12%) - ($100,000 x $1,544) = $9,656
This means that Wendy Corporation will record a total interest expense of $9,656 for the first year of the bond issuance. Since the first interest payment is due on July 1, 20x1, we need to calculate the interest expense for the period from January 1, 20x1, to June 30, 20x1.
To calculate the interest expense for the period from January 1, 20x1, to June 30, 20x1, we need to calculate the daily interest expense and multiply it by the number of days from January 1, 20x1, to June 30, 20x1.
The daily interest expense can be calculated as follows:
Daily interest expense = Total interest expense for first year / 365 days
Plugging in the values, we get:
Daily interest expense = $9,656 / 365 = $26.46 per day
The number of days from January 1, 20x1, to June 30, 20x1, is 181 days.
Therefore, the interest expense for the period from January 1, 20x1, to June 30, 20x1, can be calculated as follows:
Interest expense = Daily interest expense x Number of days
Plugging in the values, we get:
Interest expense = $26.46 x 181 = $4,790.26
This means that Wendy's Corporation will record an interest expense of $4,790.26 on July 1, 20x1, using the straight-line method.
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You are a network engineer for a San Francisco law firm. After the 1989 earthquake, an emphasis on continued business operation after future earthquakes dominated in the San Francisco business community. What type of plan focuses on ensuring that personnel, customers, and IT systems are minimally affected after a disaster
As a network engineer for a San Francisco law firm, the type of plan that focuses on ensuring that personnel, customers, and IT systems are minimally affected after a disaster is a Business Continuity Plan (BCP).
BCP is a comprehensive plan that outlines the procedures and strategies that an organization will use to continue its essential business operations after a disruptive event like an earthquake. The BCP typically includes steps for disaster recovery, backup and restoration of IT systems, communication and coordination among personnel, alternative work locations, and other critical business functions. By having a well-designed BCP in place, the law firm can minimize the impact of an earthquake or any other disaster and ensure that it can continue to provide essential services to its clients.
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a client is considering listing an industrially zoned 10-acre site. it has been vacant for several years, and was formerly used as automobile junkyard. what would a responsible real estate licensee recommend the seller consider obtaining prior to putting the property on the market
A responsible real estate licensee would recommend the seller consider obtaining the following prior to putting the industrially zoned 10-acre site on the market:
1. Environmental Assessment: Since the site was formerly used as an automobile junkyard, it's crucial to evaluate the environmental condition of the property. This may involve conducting a Phase I Environmental Site Assessment (ESA) to identify any potential contamination or hazardous materials on the site.
2. Zoning Verification: Confirm the current zoning of the property to ensure it is still suitable for industrial use or determine if any changes have been made to the zoning regulations that may affect the site's usage.
3. Survey: Obtain an updated property survey to accurately depict the site's boundaries, easements, and any encroachments. This information will be helpful for potential buyers when reviewing the property.
4. Appraisal: Hire a professional appraiser to determine the fair market value of the property, taking into account its size, location, and any potential environmental issues that may affect its value.
5. Cleanup and Remediation Plan: If the environmental assessment reveals any contamination, develop a plan for the cleanup and remediation of the site to address any environmental concerns and to comply with applicable regulations.
By considering these factors and obtaining the necessary documentation, the seller can ensure they are providing accurate and valuable information to potential buyers, and the real estate licensee can effectively market the property.
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The process of learning as much as possible about present customers and doing everything you can over time to satisfy them is:
The process of learning as much as possible about present customers and doing everything you can over time to satisfy them is customer relationship management (CRM).
CRM is a strategy that companies use to manage interactions with their customers and potential customers. It involves the use of technology to organize, automate, and synchronize sales, marketing, customer service, and technical support processes. The goal of CRM is to improve customer satisfaction and retention, increase sales, and ultimately drive growth and profitability. By collecting and analyzing data on customer interactions and behavior, companies can tailor their offerings and communication to better meet the needs and preferences of their customers. CRM systems also provide insights into customer demographics, preferences, and purchase history, which can be used to create targeted marketing campaigns and personalized experiences.
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what are the net sales proceeds before debt and before taxes NOI 3,000,000 Replacement Reserves 140,000
The net sales proceeds before debt and taxes in this scenario are 2,860,000.Net sales proceeds refer to the total revenue generated from the sale of goods or services after deducting any returns, allowances, and discounts.
In this case, we are considering the net sales proceeds before debt and taxes, with a given Net Operating Income (NOI) of 3,000,000 and Replacement Reserves of 140,000.
To calculate the net sales proceeds, we first need to account for the Replacement Reserves, which are funds set aside for future capital expenditures or to replace assets that have reached the end of their useful lives. Subtracting the Replacement Reserves from the NOI will give us the Adjusted NOI.
Adjusted NOI = NOI - Replacement Reserves
Adjusted NOI = 3,000,000 - 140,000
Adjusted NOI = 2,860,000
The Adjusted NOI represents the revenue generated from operations, excluding the Replacement Reserves. Since we are asked to find the net sales proceeds before debt and taxes, we can assume that the Adjusted NOI is equivalent to the net sales proceeds in this context.
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he classification criterion assessing the extent to which a project is viewed as improving profits is called
The classification criterion that assesses the extent to which a project is viewed as improving profits is called financial feasibility.
Financial feasibility is an evaluation of the financial viability of a project, which involves a comprehensive analysis of its potential costs, revenues, and profitability. The goal of financial feasibility analysis is to determine whether a project can generate sufficient profits to justify the investment of time and resources.
There are several factors that need to be considered in financial feasibility analysis. First, the initial investment required to launch the project needs to be estimated. This includes costs such as equipment, raw materials, labor, and overhead expenses.
Second, the potential revenue streams that the project can generate need to be assessed. This includes forecasting the sales volume, pricing strategy, and market demand for the project's products or services. Finally, the profitability of the project needs to be evaluated by comparing the estimated costs and revenues to determine the return on investment.
Financial feasibility is an important criterion for project selection and decision-making. It helps organizations to determine whether a project is financially viable and has the potential to generate profits. Without a thorough financial feasibility analysis, organizations may invest in projects that are not profitable, resulting in wasted resources and lost opportunities.
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When executives decide to shut down a part of the company's operations, even if it incurs steep financial loss, that is
When executives decide to shut down a part of the company's operations, even if it incurs steep financial loss, that is typically a strategic decision aimed at protecting the company's long-term interests.
This decision may arise due to a variety of factors, such as underperforming business units, shifting market dynamics, or a need for restructuring to streamline the company's operations.
Step 1: Identify the underperforming business unit or operations
Executives will review the company's performance data, financial reports, and other relevant metrics to determine which part of the company's operations is underperforming or no longer aligned with the company's overall strategy.
Step 2: Assess the impact of shutting down the operations
Before making the decision to shut down operations, executives will carefully assess the potential financial loss and the impact on the company's overall operations, employees, and stakeholders.
This may involve conducting cost-benefit analyses and evaluating the potential long-term benefits of the shutdown.
Step 3: Develop a plan for the shutdown
Once the decision has been made, the executives will work with various teams within the company to create a detailed plan for shutting down the operations.
This plan will include steps for communicating the decision to employees, reallocating resources, and managing any potential legal or regulatory issues that may arise.
Step 4: Execute the shutdown plan
After the plan has been developed, the company will proceed with the shutdown process.
This may include reassigning or laying off employees, discontinuing products or services, and closing physical locations, among other actions.
Step 5: Monitor the impact and adjust as necessary
Following the shutdown, the executives will monitor the impact on the company's overall performance and financial position, making any necessary adjustments to their strategy as they move forward.
In summary, when executives decide to shut down a part of the company's operations, even if it incurs steep financial loss,
it is a strategic move to safeguard the company's long-term interests. This decision involves careful assessment, planning, execution, and monitoring to ensure that the company remains on track toward achieving its goals.
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Two technology companies participating in an industrywide collaboration project disagree on what key standards to set. This signifies _______ conflict.
Two technology companies participating in an industrywide collaboration project disagree on what key standards to set. This signifies normative conflict.
In the context of two technology companies participating in an industry-wide collaboration project, disagreements on key standards arise when the parties involved have differing opinions on the most appropriate or acceptable rules, procedures, or criteria for the project.
Normative conflicts typically emerge when there are variations in values, beliefs, or expectations among the stakeholders. In this case, the technology companies might hold distinct views regarding the efficiency, security, compatibility, or adaptability of certain standards, leading to disagreement.
Resolving normative conflicts often requires open communication, negotiation, and mutual understanding between the involved parties. By discussing their perspectives and objectives, the companies can strive to find common ground and reach a consensus on the most suitable standards for the collaborative project.
It is essential to maintain a professional and respectful atmosphere during these discussions, as this fosters trust and collaboration, ultimately benefiting the project's success and promoting the development of the industry as a whole.
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On January 1, a machine with a useful life of four years and a salvage value of $21000 was purchased for $176000. What is the depreciation expense for year 2 under straight-line depreciation
Depreciation expense for year 2 under straight-line depreciation is $39,250.
Straight-line depreciation is a method of allocating the cost of an asset evenly over its useful life. To calculate the annual depreciation expense, we subtract the salvage value from the purchase price and then divide the result by the useful life. In this case, the annual depreciation expense would be ($176,000 - $21,000) / 4 = $38,750. This means that for year 2, the depreciation expense would be $38,750 since the machine has a total useful life of four years. However, since straight-line depreciation assumes an even depreciation expense each year, we add half of the annual depreciation expense to the first year's expense to calculate the expense for year 2. Therefore, the depreciation expense for year 2 under straight-line depreciation is $38,750 / 2 + $38,750 = $39,250.
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Patents and limited competition reduce ________, making high prices possible for technology products early in their life cycles. Multiple choice question. customer interest differentiation pricing constraints monopolies
Patents and limited competition reduce pricing constraints, making high prices possible for technology products early in their life cycles.
When a company obtains a patent for a product or technology, they have exclusive rights to manufacture and sell that product for a certain period of time, usually 20 years.
This means that no other company can produce or sell a similar product, which creates a monopoly in the market. With limited competition, the patent holder can charge higher prices for their product, since customers have no other options to choose from.Additionally, limited competition also reduces customer interest in the product. Since there are no alternatives available, customers may be less interested in purchasing the product at a high price. However, companies may use differentiation to try and make their product stand out from the competition, even if there is none. This can help increase customer interest and justify higher prices.In conclusion, patents and limited competition can lead to monopolies and higher prices for technology products, as there are no alternatives available in the market. However, companies can use differentiation to increase customer interest and justify higher prices.Know more about the monopolies
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Organizations may manufacture products or provide services they can obtain at lower costs elsewhere in order to
Organizations may manufacture products or provide services they can obtain at lower costs elsewhere in order to increase their profit margins and remain competitive in the market.
Outsourcing is a common practice used by organizations to reduce costs and improve efficiency. By outsourcing certain products or services, organizations can take advantage of lower labor costs, access specialized expertise and technology, and focus on their core competencies.
This allows organizations to lower their production costs, increase their profit margins, and remain competitive in the market. However, outsourcing also has its challenges, including quality control issues, communication difficulties, and the risk of losing control over critical business processes. As such, organizations need to carefully evaluate the benefits and risks of outsourcing before making a decision.
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UPS, a delivery services company, has a beta of 1.4, and Wal-Mart has a beta of 0.9. The risk-free rate of interest is 1.3% and the expected market return is 5.8%. What is the expected return on a portfolio with 50% of its money in UPS and 50% in Wal-Mart
The expected return on a portfolio with 50% of its money in UPS and 50% in Wal-Mart is 6.74%.
The expected return on a portfolio with 50% of its money in UPS and 50% in Wal-Mart can be calculated as follows:
Expected Return = Risk-free rate + Beta * (Expected market return - Risk-free rate)
For UPS:
Expected Return (UPS) = 1.3% + 1.4 * (5.8% - 1.3%) = 8.06%
For Wal-Mart:
Expected Return (Wal-Mart) = 1.3% + 0.9 * (5.8% - 1.3%) = 5.42%
For the portfolio:
Expected Return (Portfolio) = 0.5 * Expected Return (UPS) + 0.5 * Expected Return (Wal-Mart)
Expected Return (Portfolio) = 0.5 * 8.06% + 0.5 * 5.42%
Expected Return (Portfolio) = 6.74%
Therefore, the expected return on a portfolio with 50% of its money in UPS and 50% in Wal-Mart is 6.74%.
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Cherokee Inc. is a merchandiser that provided the following information: Amount Number of units sold 12,000 Selling price per unit $ 17 Variable selling expense per unit $ 2 Variable administrative expense per unit $ 1 Total fixed selling expense $ 22,000 Total fixed administrative expense $ 14,000 Beginning merchandise inventory $ 9,000 Ending merchandise inventory $ 25,000 Merchandise purchases $ 90,000 Required: 1. Prepare a traditional income statement. 2. Prepare a contribution format income statement.
The Traditional Income Statement of Cherokee Inc. is $58,000 and net income is $132,000.
Traditional Income Statement
Sales revenue:
Number of units sold x Selling price per unit
= 12,000 x $17
= $204,000
Cost of goods sold:
Beginning merchandise inventory + Purchases - Ending merchandise inventory
= $9,000 + $90,000 - $25,000
= $74,000
Gross profit:
Sales revenue - Cost of goods sold
= $204,000 - $74,000
= $130,000
Operating expenses:
Variable selling expense:
Number of units sold x Variable selling expense per unit
= 12,000 x $2
= $24,000
Variable administrative expense:
Number of units sold x Variable administrative expense per unit
= 12,000 x $1
= $12,000
Total variable expenses:
= $24,000 + $12,000
= $36,000
Fixed selling expense:
= $22,000
Fixed administrative expense:
= $14,000
Total operating expenses:
= $36,000 + $22,000 + $14,000
= $72,000
Net income:
Gross profit - Operating expenses
= $130,000 - $72,000
= $58,000
Contribution Format Income Statement
Sales revenue:
Number of units sold x Selling price per unit
= 12,000 x $17
= $204,000
Variable expenses:
Variable selling expense:
Number of units sold x Variable selling expense per unit
= 12,000 x $2
= $24,000
Variable administrative expense:
Number of units sold x Variable administrative expense per unit
= 12,000 x $1
= $12,000
Total variable expenses:
= $24,000 + $12,000
= $36,000
Contribution margin:
Sales revenue - Variable expenses
= $204,000 - $36,000
= $168,000
Fixed expenses:
Fixed selling expense:
= $22,000
Fixed administrative expense:
= $14,000
Total fixed expenses:
= $22,000 + $14,000
= $36,000
Net income:
Contribution margin - Fixed expenses
= $168,000 - $36,000
= $132,000
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the clause in a mortgage that protects the borrower's interest and requires the lender to acknowlege performance by the borrower is the
The clause in a mortgage that protects the borrower's interest and requires the lender to acknowledge performance by the borrower is known as the due-on-sale clause or acceleration clause.
This clause is typically included in a mortgage agreement to protect the lender's investment in the property by ensuring that the borrower does not transfer ownership of the property without the lender's permission.
Under the due-on-sale clause, the borrower is required to notify the lender of any plans to sell the property or transfer ownership.
If the borrower sells or transfers ownership of the property without the lender's permission, the lender has the right to accelerate the mortgage and require the borrower to repay the entire loan amount immediately.
This protects the lender from the risk of default by the new owner, as the lender has the right to foreclose on the property if the borrower is unable to repay the loan.
In summary, the due-on-sale clause or acceleration clause is a protective clause included in mortgage agreements that requires the borrower to obtain the lender's permission before selling or transferring ownership of the property.
This acceleration clause protects the lender's investment in the property by ensuring that the borrower does not transfer ownership without the lender's acknowledgement and permission.
If the borrower violates this clause, the lender has the right to accelerate the mortgage and require the borrower to repay the entire loan amount immediately.
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There are five foundational elements to strategic partnerships (listed on page 357 in your textbook). How do these differ for relational partnerships
While the foundational elements of strategic partnerships and relational partnerships share many similarities, the focus and emphasis of each may differ depending on the nature of the partnership and the goals of the partners involved. Both types of partnerships require careful attention and investment to be successful, and both can offer significant benefits to organizations that invest in them.
The five foundational elements of strategic partnerships are shared goals, mutual trust, mutual benefits, clear communication, and commitment. These elements are critical for building strong and successful partnerships that can help organizations achieve their goals.
However, when it comes to relational partnerships, these elements may differ slightly. Relational partnerships are characterized by a stronger emphasis on building long-term relationships, often focused on creating and maintaining mutual trust and understanding between partners. This means that the foundational element of mutual trust is even more critical in relational partnerships, as partners need to trust each other to collaborate effectively over the long term.
Additionally, while mutual benefits are still important in relational partnerships, they may take on a more indirect or intangible form, such as enhanced reputation or improved customer relationships. Communication is also critical in relational partnerships, but it may be more informal and focused on building relationships rather than strictly achieving specific goals.
Ultimately, while the foundational elements of strategic partnerships and relational partnerships share many similarities, the focus and emphasis of each may differ depending on the nature of the partnership and the goals of the partners involved. Both types of partnerships require careful attention and investment to be successful, and both can offer significant benefits to organizations that invest in them.
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At the peak of the post-war economic boom in 1950s, ______ of America's workers were unionized, and in some occupations their wages were a third higher than their non-union counterparts.
At the peak of the post-war economic boom in the 1950s, around 30% of America's workers were unionized.
This number was significant as it meant that a large proportion of the workforce had access to collective bargaining power, which allowed them to negotiate better wages, benefits, and working conditions. In some occupations, unionized workers earned up to a third more than their non-union counterparts. This was especially true for manufacturing jobs, where unions were particularly strong. However, the decline of union membership over the years has resulted in a significant decrease in collective bargaining power for workers. As a result, wages and benefits have stagnated or even decreased for many workers, especially in low-wage industries such as retail and hospitality.
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If firms set prices with specific consideration of firms challenging them directly for customers, they have adopted a ________ approach to pricing. Multiple choice question. profit-oriented competition-oriented demand-oriented cost-oriented
If firms set prices with specific consideration of firms challenging them directly for customers, they have adopted a competition-oriented approach to pricing. The correct option is competition-oriented.
A competition-oriented approach to pricing is when a firm sets its prices based on the prices set by its competitors in the market. This approach is used to gain or maintain market share, and it involves analyzing the prices charged by competitors and setting prices that are either lower or competitive with them.
When firms compete on price, they typically use a range of strategies to make their prices more attractive to customers, including price matching, price undercutting, and value-based pricing. By considering their competitors' prices, firms can also adjust their pricing to reflect changes in the market, such as changes in demand or the introduction of new products.
Overall, a competition-oriented approach to pricing can help firms to remain competitive and increase their market share, but it can also lead to price wars and reduced profitability if prices are set too low. Therefore, firms must carefully consider the potential risks and benefits of this approach before adopting it.
The correct option is competition-oriented.
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A new manufacturing machine is expected to cost $278,000, have an eight-year life, and a $30,000 salvage value. The machine will yield an annual incremental after-tax income of $35,000 after deducting the straight-line depreciation. Compute the payback period for the purchase.
To calculate the payback period, we need to find out how long it takes for the cumulative after-tax cash inflows to equal the initial investment.
First, we need to calculate the annual cash inflows, which is the incremental after-tax income plus the depreciation expense.
Annual cash inflow = Incremental after-tax income + Depreciation expense
= $35,000 + (($278,000 - $30,000) / 8)
= $35,000 + $31,000
= $66,000
Next, we can calculate the payback period by dividing the initial investment by the annual cash inflow.
Payback period = Initial investment / Annual cash inflow
= $278,000 / $66,000
= 4.21 years
Therefore, the payback period for the purchase is 4.21 years.
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You pay $2,020 for a bond with one year to maturity. At maturity you receive face value of $2,000 plus a coupon payment of $70. In this case:
In this case, the bond has a coupon rate of 3.48% (($70 coupon payment ÷ $2,020 purchase price) x 100)), and the yield to maturity is 2.89% ((($2,000 face value + $70 coupon payment) ÷ $2,020 purchase price) - 1 x 100). Despite paying more than the face value of the bond, the investor still receives a positive return due to the coupon payment received at maturity.
You pay $2,020 for a bond with one year to maturity. At maturity, you receive a face value of $2,000 plus a coupon payment of $70. In this case:
1. First, calculate the total amount you receive at maturity. You will receive the face value of the bond, which is $2,000, and the coupon payment, which is $70. So, at maturity, you will receive a total of $2,000 + $70 = $2,070.
2. Next, calculate the profit you made from the bond. To do this, subtract the initial price you paid for the bond from the total amount you received at maturity. So, your profit is $2,070 - $2,020 = $50.
3. Finally, calculate the return on investment (ROI). To do this, divide your profit by the initial price of the bond and multiply by 100 to get a percentage. Your ROI is ($50 / $2,020) * 100 = 2.475%.
In this case, you made a profit of $50 and had a return on investment of 2.475%.
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You pay $2,020 for a bond with one year to maturity. At maturity you receive face value of $2,000 plus a coupon payment of $70. In this case:
Question 4 options:
A. the coupon rate is 2.48%, the yield to maturity is 3.5%
B. the coupon rate is 3.5%, the yield to maturity is 2.48%
C. the coupon rate is 2.48%, the yield to maturity is 2.48%
D. the coupon rate is 3.5%, the yield to maturity is 3.5%
The accuracy of current modern forecasting falls off sharply for predictions made beyond _____ days into the future. a. three b. nine c. seven d. four e. two
The accuracy of current modern forecasting falls off sharply for predictions made beyond nine days into the future. This means that beyond the ninth day, the predictions made by forecasting models become less reliable and less accurate.
The reason for this is that there are many variables and factors that can impact the accuracy of a forecast, such as changing weather patterns, unforeseen events, and other unpredictable factors. Forecasting models rely on historical data, statistical algorithms, and other methods to make predictions about the future, but as time goes on, these models become less reliable due to the complexity of the variables involved. It's important to keep in mind that while forecasting can be a useful tool for planning and decision-making, it's not a perfect science and should be used with caution. In general, the further into the future a forecast is made, the less accurate it is likely to be, so it's important to be aware of the limitations of forecasting models and to use them in conjunction with other sources of information and analysis.
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When a person benefits from the work or service of an organization like a union without joining or contributing to it, this person is referred to as
When a person benefits from the work or service of an organization like a union without joining or contributing to it, this person is referred to as a free rider.
A free rider is someone who benefits from the efforts of a group without contributing to it. In the context of a union, this means that someone may receive higher wages or better working conditions that have been negotiated by the union, without actually being a member of the union or contributing to its efforts. Unions often negotiate better working conditions, higher wages, and various other benefits for their members. Free riders benefit from these improvements without paying union dues or participating in union activities.
Free riders can be seen as taking advantage of the benefits without putting in the work or taking on the risks that come with being part of the organization.
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You are considering the purchase of a new machine. You analyze two alternative machines that have different initial and ongoing costs and different useful lives. Whichever machine is purchased will be replaced at the end of its useful life. You should select the machine which has the:
When considering the purchase of a new machine, it is important to analyze the two alternative machines that have different initial and ongoing costs and different useful lives. In order to select the machine that is most suitable for your needs, you should consider the total cost of ownership over the machine's useful life.
This includes not only the initial purchase cost but also the ongoing costs such as maintenance, repairs, and energy consumption. Additionally, it is important to consider the machine's useful life and plan for its eventual replacement. Ultimately, the machine that has the lowest total cost of ownership over its useful life should be selected.
This decision will ensure that you make the most cost-effective investment for your business.
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