Option B is correct. When an index return equals the weighted average of the returns of each component security, with weights proportional to outstanding market value, it is referred to as a market value-weighted index.
A hypothetical portfolio of investments that represents a certain area of the financial market is known as a market index. The prices of the index's underlying holdings are used to calculate its value. Market capitalization, revenue, float, and fundamental weighting are all used to determine the values of several indices. A way to change the relative importance of each item in an index is to weight it.
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Which of the following people would be more interested in managerial accounting data than in financial accounting data?Multiple select question.Business ownersCreditorsEmployeesInvestors
Business owners would be more interested in managerial accounting data than in financial accounting data.
Who are the users of managerial accounting?Internal users of accounting data are the main focus of managerial accounting. Executives, product managers, sales managers, and any other corporate employees who use accounting information to make decisions are examples of these internal users.
Information on management accounting is prepared and given to internal users like management and supervisors. Detail reports on items, departments, or financial accounts may fall under this category.
Managerial accounting prioritises the future more. The business uses managerial accounting to plan its future operations by creating budgets, conducting analyses, or engaging in other related internal activities.
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Complete Question:
Which of the following people would be more interested in managerial accounting data than in financial accounting data?
(Multiple select question)
Business ownersCreditorsEmployeesInvestorsWhich of the following is an example of a less frequently recognized stressor unique to modern humans?
Technostres
Technostress is an example of a less frequently recognized stressor unique to modern humans.
Technostress refers to the stress and anxiety caused by the use of technology, such as computers, smartphones, and social media. It is a less frequently recognized stressor unique to modern humans because it is a relatively new phenomenon that has emerged with the increasing use of technology in our daily lives.
Technostress can result from various factors, such as the constant need to be connected, information overload, and the pressure to keep up with the latest technological advancements.
It can lead to physical and mental health problems, such as eyestrain, back pain, and anxiety. Therefore, it is important to recognize and manage technostress to ensure that technology is used in a healthy and productive way.
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each of the following are methods used to separate mixed costs into their fixed and variable components except:
Answer:low high method
Explanation:
In the Typology of Buyer Benefits, which of following terms represents a focus on building market reputation and brand image? Economic, intangible benefits Noneconomic, intangible benefits Economic, tangible benefits Noneconomic, tangible benefits
In the Typology of Buyer Benefits, the term "Noneconomic, intangible benefits" represents a focus on building market reputation and brand image.
The Typology of Buyer Benefits is a framework that categorizes the different types of benefits that buyers can derive from a product or service. Economic benefits are those that can be quantified in monetary terms, while intangible benefits cannot. Noneconomic benefits are those that are not related to monetary value. Intangible benefits are those that are not physical in nature, such as brand image and reputation. Therefore, the focus on building market reputation and brand image falls under the category of noneconomic, intangible benefits.
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Identity two ways cash is used in a business and two ways management can control the amount of cash being used by the business
Management is the administration of an organization, whether it is a business, a nonprofit organization, or a government body. It is the art and science of managing the resources of the business.
What is the meaning of Management?Whether it's a company, a nonprofit, or a government agency, management is the administration of the institution. It is both the science and the art of managing a company's resources.
To achieve desired goals and objectives, a person or group of people must be challenged and managed, according to the concept of management. Furthermore, the capacity to organize, supervise, and guide people is a component of management.
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The Treaty of Maastricht and the Treaty of Lisbon were indications of within the European Union Multiple Choice a harmonized trade system - greater political union less economic structure increased sovereignty for member countries a shift toward common external policies
The Treaty of Maastricht and the Treaty of Lisbon were signs of a wider political union of the European Union, less of an economic structure.
The Europeans who demanded the highest rates from the rest of Europe for products imported from Asia were the Venetians. Because of its historical importance, UNESCO declared this city a World Heritage Site. Venice, which was established in the fifth century and has a prime position, has progressively risen to importance in Europe. They placed a lot of focus on navigation, which aided in its development as the city with the greatest commercial significance. Due to Venice's close economic relations with China and India, merchants were able to import items from Asia and resell them to the rest of Europe for considerably higher prices.
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Disequilibrium Suppose the market for cantaloupes is unregulated. That is, cantaloupe prices are free to adjust based on the forces of supply and demand If a shortage exists in the cantaloupe market, then the current price must be than the equilibrium price. For the market to reach equilibrium, you would expect
If a shortage exists, the current price must be lower than the equilibrium price (because, when the current price < equilibrium price, quantity demanded > quantity supplied, causing a shortage). For the market to reach equilibrium, you would expect buyers to offer higher prices (until the price reaches the equilibrium level).
Disequilibrium suppose the market for melons is unregulated. That is, melon costs are allowed to change given the powers of the organic market. On the off chance that a lack exists in the melon market, the ongoing cost should be lower v than the balance cost.
Disequilibrium happens when a market weakens to such an extent that the amount requested doesn't rise to the amount provided.
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the issues priority matrix used in environmental scanning is composed of two axis or dimensions which are labeled
The Issues Priority Matrix is a useful tool for environmental scanning that helps organizations to identify and prioritize the most critical issues that could impact their operations.
It is composed of two axes or dimensions: the impact of the issue on the organization and the level of uncertainty or risk associated with the issue.
The first dimension, impact, measures the extent to which an issue could affect the organization, either positively or negatively. Issues that have high impact are those that could significantly affect the organization's performance, reputation, or financial stability. These could include changes in consumer behavior, new regulations, or shifts in the economy. Issues with low impact are those that are unlikely to have a significant effect on the organization.
The second dimension, uncertainty, measures the level of risk or unpredictability associated with an issue. Issues that have high uncertainty are those that are difficult to predict or assess, such as political instability, natural disasters, or technological disruptions. Issues with low uncertainty are those that are more predictable and can be more easily managed.
By plotting issues on these two dimensions, organizations can prioritize the most critical issues and develop strategies to manage them. High-impact, high-uncertainty issues are the most critical and require the most attention, while low-impact, low-uncertainty issues can be addressed at a lower priority. The Issues Priority Matrix is a useful tool for organizations to stay ahead of emerging trends and potential threats and ensure that they are well-positioned to succeed in a constantly changing environment.
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describe how a progressive tax system promotes equity in taxation.
Answer:
A progressive tax system is a tax system in which the tax rate increases as the income or wealth of the taxpayer increases. This means that those who have higher income or wealth pay a higher percentage of their income or wealth in taxes compared to those with lower income or wealth.
This system promotes equity in taxation as it helps to reduce income inequality. The idea behind this is that those who have more can afford to pay more in taxes, and that the burden of taxation should be shared fairly among all members of society.
In a progressive tax system, those with lower incomes pay a smaller percentage of their income in taxes, and those with higher incomes pay a larger percentage of their income in taxes. This means that those who have less money to spare are not burdened with high tax bills that they cannot afford, while those who can afford to pay more contribute more to the common good.
Progressive taxation also helps to provide revenue for government programs that benefit all members of society, such as education, healthcare, and social welfare programs. This helps to promote a more equal and just society by ensuring that everyone has access to essential services regardless of their income or wealth.
Overall, a progressive tax system promotes equity in taxation by ensuring that those who have more pay more, and that the burden of taxation is shared fairly among all members of society.
One purpose of deregulation is to open up the doors of competition to many businesses in order to offer consumers greater choice in purchasing services or products.
True or False
The given statement "One purpose of deregulation is to open up the doors of competition to many businesses in order to offer consumers greater choice in purchasing services or products." is True. Because deregulation create a competitive environment where businesses offer a wider range of products at lower prices. So, correct answer is true.
Deregulation refers to the reduction or elimination of government regulations on businesses and industries. One of the primary goals of deregulation is to promote competition by removing barriers to entry and allowing multiple firms to operate in the market.
By doing so, deregulation aims to create a more competitive environment where consumers can benefit from greater choice and increased access to these goods and services.
In addition, deregulation can also stimulate innovation, as businesses are free to experiment with new technologies and business models without being hampered by restrictive regulations. So, the correct option is True.
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The U.S. government banned cigarette advertising on radio and television after January, 1971. You would expect to find that after the ban took effect the equilibrium price of cigarettes a. no change b. rose c fell d. none of the above
It would make sense to anticipate b. rose in the equilibrium price of cigarettes following the ban's implementation.
What is the equilibrium price?The factors of demand and supply must be in harmony for a price to reach equilibrium. Prices are likely to return to this equilibrium unless supply or demand characteristics change. When either demand or supply, or both, shift, the equilibrium price shifts.
These are some examples of equilibrium: a book that has been placed on a table. a chemical reaction where the rate of the forward reaction and the rate of the back reaction are the same. the price at which both consumers and businesses produce the same amount of a product at the same time.
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Which of the following situations describes market disequilibrium in the perfectly competitive market for paper towels in the U.S.? Select all that apply.
A. 1000 buyers who wanted to purchase paper towel rolls were not able to purchase any.
B. Paper towel roll suppliers offered discounts on the prices of paper towel rolls from $3 per roll to $2 per roll.
C. The number of paper towel rolls demanded by buyers equals the number of paper towel rolls supplied by sellers in the U.S.
D. All consumers who wanted to purchase paper towel rolls were able to purchase them.
A. 1000 buyers who wanted to purchase paper towel rolls were not able to purchase any. B. Paper towel roll suppliers offered discounts on the prices of paper towel rolls from $3 per roll to $2 per roll. Both A and B describe market disequilibrium in the perfectly competitive market for paper towels in the U.S.
The market is experiencing excess demand in condition A, which means that more paper towel rolls are needed by consumers than are being provided by vendors. Due to this, some customers are unable to buy any paper towel rolls.In case B, there is an excess supply on the market, which means that sellers are supplying more paper towel rolls than what customers are asking for.Due of this, suppliers are forced to provide discounts in order to get customers to buy more paper towel rolls.
In a completely competitive market, situation C represents market equilibrium where the number of paper towel rolls required by buyers and provided by sellers are equal.
Market disequilibrium is not described by Situation D.
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Confidence I have no idea! e Page 36 2.2. What is a production possibilities frontier? You lost 10 points on this question. Assume that an economy produces only two goods, pizza and wings, and that it is producing on its production possibilities frontier (PPF). If the economy can only produce two goods, which of the following ways would allow the economy to produce even more pizza? Activity Score 1320 Way to Increase the Number of Pizzas Produced Current Grade growth in labor force 0% improved pizza-making technology You must answer at least 4 more questions to receive a grade. improved wing-making technology Next Question Show Feedback some workers move to a country that produces only pizza Question Help/Challenge more efficient use of existing production assets Not a Way to Increase the Number of Pizzas Produced
A production possibilities frontier (PPF) is a graphical representation of the maximum combinations of two goods.
It shows the trade-off between producing one good and the other, assuming that all resources are fully utilized.In the scenario where an economy produces only two goods, pizza and wings, and is producing on its production possibilities frontier PPF, any increase in the production of pizza would require a decrease in the production of wings, or an increase in available resources.Out of the given ways to increase the number of pizzas produced, the most feasible options would be growth in labor force and improved pizza-making technology.Growth in labor force would provide additional workers to produce more pizzas, assuming that the other production factors remain constant. Improved pizza-making technology would increase the productivity of existing workers and resources, allowing for more pizzas to be produced without increasing the number of workers or resources.Improved wing-making technology would not increase the production of pizzas since it is a completely different good.
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Suppose Jim and Dwight are coworkers in the same office. If Jim is more productive than Dwight because he has received extra training, then Jim has _________. a. more human capital than Dwight b. the same amount of human capital as Dwight c. less human capital than Dwight
Option - A. More human capital than Dwight. If Jim is more productive than Dwight because he has received extra training, then Jim has More human capital than Dwight.
The information, skills, and talents that people develop via education, training, and experience are referred to as human capital. In this instance, Jim is more productive than Dwight because he obtained more training. This implies that Jim has more human capital than Dwight since he has gained more expertise and information pertinent to their line of work. Therefore, Jim has more human capital than Dwight, which is the proper response. Social scientists refer to personal qualities seen to be helpful in the manufacturing process as "human capital." It includes the education, good health, and knowledge of the workforce. Individual incomes are significantly impacted by human capital. The information, skills, and health that people invest in and assemble during their lifetimes provide them the opportunity to reach their potential.
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In the classic production possibilities curve discussed in the content presentation,___ represents military goods and ___ represents civilian goods
Choose matching definition
1. False
2. Incentive
3. Guns; butter
4. Scarcity
In the classic production possibilities curve discussed in the content presentation, Guns represents military goods and butter represents civilian goods.
A model used to illustrate the trade-offs related to splitting resources between the production of two items is called the Production Possibilities Curve (PPC). The PPC is a useful tool for demonstrating the ideas of scarcity, opportunity cost, efficiency, and economic development and contraction.
The phrase "guns and butter" often refers to the dynamics of a federal government's budget allocations to social programmer against defense. Both can play a crucial role in the economy of a country.
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Transactors and Revolvers could be considered types of ________ or a partition of a broad consumer or a business market within subgroups of consumers or businesses.
Transactors and Revolvers could be considered types of credit card users or a partition of a broad consumer or business market within subgroups of consumers or businesses. As Transactors use credit cards as a means of payment but pay off their balance at end of month, to avoide interest charges.
Transactors are credit card users who typically pay off their balance in full each month and do not incur any interest charges on their outstanding balances. They use their credit cards primarily for convenience and to earn rewards, such as cash back or points.
In contrast, Revolvers carry a balance on their credit cards and pay interest on their outstanding debt. By dividing a market into subgroups based on behavior or other characteristics, marketers can more effectively tailor their marketing messages and strategies to each subgroup.
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When a manager has control over and is accountable for cost, profit or investments of an organization, it is called ________.
a. margin center
b. responsibility center
c. net operating income
d. cost center
Option B is correct. When a manager has control over and is accountable for cost, profit or investments of an organization, it is called responsibility center.
What Is a Profit Center and a cost center?A company's profit centre is a branch or division that directly contributes to or is anticipated to contribute to the overall organization's bottom line. It is recognised as a distinct, independent company that brings in its own income and profits. Its profits and losses are computed independently from those of other company divisions. In 1945, Peter Drucker first used the term "profit centre." Various support departments that are essential to corporate operations but do not specifically have the responsibility to generate revenue are also included in cost centres. These departments can include IT support, human resources, or customer services.
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true/false. project managers confide that a useful strategy for gaining the cooperation of professionals in other departments/organizations is figuring out how to make these people look good to their
The given statement "project managers confide that a useful strategy for gaining the cooperation of professionals in other departments/ organizations is figuring out how to make these people look good to their" is true because project managers often find that a useful strategy for gaining the cooperation of professionals in other departments/organizations is to figure out how to make these people look good to their superiors or stakeholders.
By understanding the goals and priorities of other departments and individuals involved in the project, project managers can identify ways to collaborate and create win-win situations that benefit everyone involved. When professionals are recognized for their contributions and achievements, they are more likely to be motivated and engaged in the project, which can lead to a more successful outcome.
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Refer to the table below. a. What is the equilibrium price in this market? $ per bushel At what price is there neither a shortage nor a surplus? per bushel Fill in the surplus-shortage column and use it to confirm your answers. Instructions: Enter your answers as a whole number. If you are entering any negative numbers be sure to include a negative sign (-) in front of those numbers. Thousands of Bushels Demanded 85 Surplus (+) or Shortage (-) ВО Price per Bushel $3.40 3.70 4.00 4.30 Thousands of Bushels Supplied 72 73 75 77 79 75 70 65 60 4.90 81
A price is said to be in equilibrium when the quantity requested and the quantity provided are equal.
How to calculate Equilibrium price?
Equilibrium price = $ 4.00 per bushel
A price that neither a shortage nor a surplus exists at = $ 4.00 per bushel.
D P S Surplus/Shortage
85 $3.40 72 -13
80 $3.70 73 -7
75 $4.00 75 0
70 $4.30 77 7
65 $4.60 79 14
60 $4.90 81 21
c. When the price is 3.40 dollars, there is more demand than supply.
When the bushel price is $4.90, the shortfall is equal to -13 (72 minus 85).
There are more than 21,000 bushels.
14,000 bushels are in surplus when the price is $0.60 higher than the equilibrium price.
There is a shortage of 7,000 bushels when the price is $0.30 lower than the equilibrium price.
What is a rise in equilibrium prices?
The equilibrium price will rise when demand rises and supply falls, but the effect on equilibrium quantity cannot be separated. Consumers now place a higher value on the product for any quantity, requiring producers to charge a higher price in order to supply the product; as a result, prices will rise.
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Researchers have found that LED light bulbs use significantly less energy than incandescent light bulbs while producing the same amount of light. However, producing LED light bulbs is significantly more costly than producing incandescent light bulbs. In order to encourage light bulb manufacturers to produce more LED light bulbs, which of the following is most likely to happen?
There are two correct answers.
Select all that apply:
A. The government will tax LED light bulbs.
B. The government will impose a tax on incandescent light bulbs.
C. The government will subsidize LED light bulbs.
D. The government will subsidize the production of incandescent light bulbs.
We have the proper answers for the question in options B) and C). There will be a levy on incandescent bulbs imposed by the government. LED light bulbs will be subsidised by the government.
What makes up the government?The U.S. Constitution grants Congress, the Presidents, and the Supreme court, respectively, the authority to act as the parliamentary, executive, and judicial departments of the federal government.
What function does government serve?A nation, a state, or some other political entity has a government as its system of law and order. A government is in charge of establishing and upholding social norms, as well as managing the military, foreign policy, the economic, and public services.
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Under Activity-Based Costing, it is important for there to be a high correlation between the change in the level of costs and the change in the use of the driver on which those costs are allocated. True or false?
It is crucial for Activity-Based Costing that there be a strong correlation between changes in cost levels and changes in how the driver to which those costs are allocated is used. True
Accounting that monitors costs and revenues by "job" and allows for consistent reporting of profitability by job is known as job costing. An accounting system must enable the assignment of job numbers to specific expenditures and revenue items in order to support job costing. A job can be described as a specific project completed for a single client, a single manufactured product, or a batch of identical pieces created simultaneously. When using job costing in a manufacturing environment, it is necessary to keep track of which "jobs" use which direct costs, such as direct labor and direct materials, and then to assign overhead costs to the tasks. Similar to the company's overall profit and loss statement, but for each individual position.
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Which of the following industries tends to generate a high level of trust from consumers and stakeholders?a. Insuranceb. Technologyc. Banksd. Mortgage lenderse. Financial services
Since it ultimately depends on the behaviour and reputation of the individual organisation, none of these sectors can be completely trusted. Consumers and stakeholders often have a high level of trust in the insurance business.
The customer and stakeholder confidence in the insurance business is often quite strong. This is due to the fact that insurance firms provide as a safety net for people and businesses in the event of unforeseen circumstances. Customers are more inclined to trust insurance providers since insurance plans are intended to safeguard people's money, health, and livelihoods. In order to maintain their financial stability and ability to keep their commitments to clients, insurance firms must also abide by stringent rules and norms. As a result, insurance firms are regarded as being dependable and trustworthy, making them a popular option for consumers seeking security and safety.
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Which of the following is a correct statement regarding reporting on reviewed financial statements for a non issuer?
A) An accountant who is NOT independent is allowed to issue a review report as long as the accountant discloses the lack of independence in the review report.
B) The date of the accountant's review report should be the day the accountant discusses the draft report with management.
C) Reviewed financial statements must be prepared in accordance with generally accepted accounting principles.
D) An accountant is allowed to issue a review report on the balance sheet only and NOT on the other financial statements as long as the scope of inquiry and analytical procedures were NOT restricted.
The correct statement is D) An accountant can issue a review report on the balance sheet only and NOT on the other financial statements as long as the scope of inquiry and analytical procedures are NOT restricted.
The balance sheet is the only financial statement that can be the subject of a review report under generally accepted auditing standards (GAAS), even if the scope of the investigation and the analytical techniques were not constrained.
As part of a review engagement, investigation and analytical techniques are used to acquire a bare minimum of assurance that the financial statements are accurate. The entire set of financial statements, not just the balance sheet, is covered by the review engagement's scope. A review engagement's goal is to offer a medium level of assurance that the financial statements adhere to the relevant financial reporting framework, such as Generally Accepted Accounting Principles (GAAP).
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What is the minimum requirements for Ibkr?
To be eligible for an Interactive Brokers (Ibkr) account, you must meet the following minimum requirements:
- A minimum deposit of USD 10,000
- At least 18 years of age
- Resident of an approved country.
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antonio is a 47-year-old accountant who has been out of work for almost a year. he became so discouraged that he gave up on his job search a couple of months ago.
Employers do not count discouraged workers as unemployed because they have not actively sought employment in the previous four weeks. U.S. Labor Statistics Bureau.
"Labor Force Statistics From the Current Population Survey: Discouraged Employees." Discouraged workers typically left the Statisticsforce because they were unable to find a position that met their needs or were unsuccessful in their job applications.
The phrase excludes those who left the workforce for other causes, such as becoming pregnant or being unable to work due to a disability. Usually, discouraged Statistics individuals have left the workforce because they were unable to locate acceptable employment or were unsuccessful in their job applications.
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By the end of the 1920's, the stylization of the marketplace was in full swing. it had influenced goods, packages, retail establishments and advertisements. The 1920's witnessed the flowering of style in magazines aimed at:
Group of answer choices
O the under privileged
O the mass market
O the wealthy
O haute couture
The 1920's witnessed flowering of the style in magazines aimed at the mass market.
What is mass market?Mass market refers to the group of consumers who are interested in purchasing or consuming a particular product or service, without regard to their specific demographic, lifestyle or personal tastes. It is the broadest and largest segment of the consumer market, typically comprising a significant portion of the general population. Companies often target the mass market with products that have broad appeal, are affordable and accessible, and have a high potential for sales volume. Examples of mass market products include fast food, everyday household items, and basic clothing. The success of a mass market product depends on the ability of the company to effectively advertise and distribute it to the widest possible audience.
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Sam is the CEO for a chain of non-profit coffee shops with the mission of providing better human services to the people in developing countries who grow the coffee beans the chain uses. What will Sam’s attitude toward the business MOST likely be?
A.
Sam needs to maximize profits for the shareholders.
B.
Sam needs to prevent other chains from partnering with their suppliers.
C.
Sam needs to make enough money to achieve the business’s mission.
D.
Sam needs to find ways to undercut the competition’s prices.
As the mission of Sam's company is to provide better human services to the people in developing countries who grow the coffee beans the chain uses, his attitude toward the business will most likely be to earn enough money to achieve the business’s mission.
What is mission of a company?Mission is a broad expression of the organization's overall purpose that is consistent with the values and expectations of key stakeholders and is concerned with the scope and boundaries of the organization.
A mission statement is a explanation of why an organization exists. It defines the organization's goal and overall intention. The vision is supported by the mission statement, which communicates purpose and direction to employees, customers, vendors, and other stakeholders.
Therefore, Sam needs to make enough money to achieve the business’s mission.
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Valdez Corporation has provided the following contribution format income statement. Assume that the following information is within the relevant range.
Sales (6,000 units) $ 240,000
Variable expenses 180,000
Contribution margin 60,000
Fixed expenses 54,000
Net operating income $ 6,000
The break-even point in unit sales is?
The correct answer to the question is 5.400 units.
Step by step explanation
given information:
Sales of 6,000 units and $240,000Variable expense $180,000Contribution margin $60,000Fixed expenses $54,000Net Operating Income $6,000Sales price per units = $240,000 ÷ 6,000 = $40
Variable cost oer units = $180,000 ÷ 6,000 = $30
Break Event Point in Units = Fixed cost ÷ (sales price per unit - variable cost per unit)
BEP in Units = $54,000 ÷ ( $40 - $30)
= $54,000 ÷ $10
BEP in Units = 5400
The break even point in unit sales is 5.400 units.
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In the audit of a nonissuer, which of the following statements is correct regarding the use of external confirmations to obtain audit evidence?
A. A factor for an auditor to consider when designing confirmation requests is the assertion being tested.
B. Management's refusal to allow an auditor to perform external confirmation procedures is considered a departure from GAAP sufficient to qualify the opinion.
C. Negative confirmations should be used only if a very high exception rate is expected.
D. Negative confirmations provide more persuasive audit evidence than positive confirmations.
Option A. A factor for an auditor to consider when designing confirmation requests is the assertion being tested.This statement is correct In the audit of a non issuer, external confirmations can be a useful tool to obtain audit evidence.
When designing confirmation requests, the auditor should consider the specific assertion being tested, such as existence or completeness. The confirmation request should be designed to address the specific risks associated with the assertion being tested. For example, when testing the existence of accounts receivable, the confirmation request should be designed to confirm that the amounts owed to the client actually exist and are owed by the specific customers listed in the client's records.B. Management's refusal to allow an auditor to perform external confirmation procedures is not considered a departure from GAAP sufficient to qualify the opinion.C. Negative confirmations should be used only if a very low exception rate is expected.D. Negative confirmations do not provide as persuasive audit evidence as positive confirmations. Negative confirmations only provide evidence that the recipient of the confirmation did not indicate any disagreement with the information provided in the confirmation request. Positive confirmations, on the other hand, provide direct evidence that the information provided in the confirmation request is accurate. Therefore, positive confirmations are generally more persuasive audit evidence than negative confirmations. However, negative confirmations can still be useful in certain situations where obtaining positive confirmations may be difficult or impractical.
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read the Memorandum of Law in Exhibit 7-17 beginning on page 356 of Statsky, 8th edition. Based on that memorandum please provide 6 (six) specific examples to support your reasoning in the above discussion.
The six examples from the Memorandum of Law in Exhibit 7-17 are given below
The Examples1. Is the store owner James Jackson negligent for his failure to care for someone who is injured by the pit near the store when the only available warning was a small danger sign near the pit? In accordance to the rule of law, he needs to be responsible of the injuries since he neglected the requirement in accordance to law that a reasonable precaution is needed at the place where people are engaged to danger. Thus since he only had a small danger sign at the place of injuries he should take care of all the injured people.
2. it’s clear that Ed fox saw an ad in the newspaper announcing a sale at a local store in the Downtown Boston, where on going at the back of that store he fell into a pit, the only sign that was near the area was a sign that said danger near the three inch feet.
The legal question that arises from this scenario is regarding who should cater for the treatment of Ed fox, the store owner? If not the store owner then is it legal to say that Fox fell into a pit due to his carelessness or lack of concern to mind reading the warning signs?
It is clearly according to law to say that treatment of Fox should be catered for by the store owner since the place of gander such as that with danger holes should have a reasonable sign to indicate on the danger ahead to anyone who approached that place.
3. It is also necessary to do research on the kind of floor around the store. According to my reasoning in accordance to law, was the responsibility of the store owner to clearly indicate that there was a danger hole next to the store and the floor was in mess so that whoever came near the place can be careful.
Thus the store owner need to be identified and if it needs to an extent of law taking its turn in regard to it an immediate action should be taken to ensure that Ed Fox has been compensated or his treatment catered for. Due to the fact that it’s legal.
4. Can the client Ed Fox have a firm stand to claim that he never saw the sign near the pit? For none of us was near the place of interest.
And if he saw the sign did he take the notice with all the seriousness it deserved to prevent any accident occurring or he took the step ahead to prove whether really the sign meant logical thing to the people around the store. If at all he had saw the sign but never took it into consideration thus he should be responsible for his own injuries since thus could be out of his ignorance.
5. Research need to be done on whoever was around during the time of incidence to be the witness since being dependent on the information offered by Client Ed Fox can’t help much in decision making.
Thus according to my understanding of law research is needed to determine who could be near the place of incidence to act as the witness in the court of law.
This can help in making the decision of who to be responsible of the injury if Ed Fox or the store holder. Since witnesses can offer at least half of the information needed in the decision-making of such a case.
6. Also research needs to be made at the place of concern since all the information by the complainant can be of total lie just to get material benefit or the compensation by the store holder James which may be out of his personal greed. The law states clearly that thorough research is needed before decision making of any case to ensure that the decision has been made in a fair and just manner.
7. it’s important to make research on the kind of motion that Ed Fox had. Since if it’s a dangerous place it means that care should be taken from far to ensure that accident is avoided at all cost.
Also it’s important to know if really complainant Ed Fox was having his way to the store place or just decided to lay his complain to the store holder just because he fell around his place at that time. This can help much in making sound decision on who to cater for the injuries.
In decision making the five elements of the common-law negligence could as well apply on the premises liability of commercial ownership which include the owners, commercial premises, using reasonable care, assurance of safety and the users of the premises as per Smith v. all this will clearly state and explain the fact that store owner was not responsible of the whereabouts of the other people around among them being his own customers since the sign near the store was not efficient or large enough to show the dangers that was there so as to ensure care is maximum when approaching that place.
Also the floor around the store was not at a good condition since it was slippery and that may be the cause of Ed Fox falling to the pit around it.
At the end of it all it clearly shows that if law is followed the store owner is responsible for this.
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