Explanation:
Yes, the four management functions are important in any company, of any sector or size, because the four management functions that are planning, organizing, directing and controlling are the fundamental bases of the act of managing.
For a business to be successful in the market, it is necessary to plan strategic actions that will help it achieve its objectives and goals and remain competitive. The organization is also essential for the actions and strategy to take place in the planned way, it is necessary that the work is organized to be effective, together with control and direction, essential to keep the business operating correctly, in search of continuous improvement , work supervision, instruction and motivation of employees, etc.
You are selling your black 1967 Chevy Impala. You have already spent $2,000 on repairs. At the last minute, the transmission dies. You can pay $1,400 to have it repaired or sell the car “as is.” In each of the following scenarios, should you have the transmission repaired? Explain. Blue book value (what you could get for the car) is $14,500 if transmission works, $11,200 if it does not. With repair $________________________________ Without repair $________________________________ Marginal Benefit $________________________________ Marginal Cost $________________________________ Net Gain/Loss $________________________________ [Strike off the irrelevant term] Conclusion: ___________________________________________________________________ Blue book value is $12,300 if transmission works, $11,000 if it does not. With repair $________________________________ Without repair $________________________________ Marginal Benefit $________________________________ Marginal Cost $________________________________ Net Gain/Loss $________________________________ [Strike off the irrelevant term] Conclusion: ____________________________________________________________________
A. $3,300 you could get for the car.
B. $1,300 if it doesn't.
What is a repair?When a resource breaks, is damaged or ceases to function, repairs are restoration efforts. Routine tasks and/or corrective or proactive repairs made to investments to cease damage and extend life are referred to as maintenance.
The transmission repair will cost $1,400 A. If the transmission works, the blue book value is $14,500; if it doesn't, it is $11,200.
The value of the engine repair is = 14500 - 11200
= $3,300 Repair the transmission.
B. If the transmission functions, the blue purchase price is $12,300; if not, it is $11,000.
The transmission's repair will save you $1,300 = 12,300 - 11,000.
black 1967 Chevy Impala would be the better option, the $1,400 to fix it.
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The question is incomplete, Complete question is:
You are selling your black 1967 Chevy Impala. You have already spent $2,000 on repairs. At the last minute, the transmission dies. You can pay $1,400 to have it repaired, or sell the car "as is." In each of the following scenarios, should you have the transmission repaired? Explain.
A. Blue book value (what you could get for the car) is $14,500 if transmission works, $11,200 if it doesn't.
B. Blue book value is $12,300 if transmission works, $11,000 if it doesn't.
Philosophers of ethics often contend that the argument that codes should provide action recipes for all situations neglects the fact that: Select one: a. effective moral action requires more than just blind obedience to rules. b. most codes are created to establish clearly and forcefully an organization's standards. c. codes help a community to articulate and understand their highest shared values. d. codes empower and protect those who are committed to doing the right thing.
Answer:
d. codes empower and protect those who are committed to doing the right thing
Explanation:
The ethics philosophers contend that code provides the action for all types of situation neglects that the codes empower and protect them that are engaged for doing the right thing here right thing means the things should be done in an ethical way and in correct way
So as per the given situation the option d is correct
And, the rest of the options are wrong
Sheridan Company owns equipment that cost $963,000 and has accumulated depreciation of $406,600. The expected future net cash flows from the use of the asset are expected to be $535,000. The fair value of the equipment is $428,000.
Required:
Prepare the journal entry, if any, to record the impairment loss.
Answer:
Debit : Impairment loss $21,400
Credit : Accumulated impairment loss $21,400
Explanation:
An Asset is impaired when its Carrying Amount > Recoverable Amount
where,
Carrying Amount = Cost - Accumulated depreciation
therefore,
Carrying Amount = $963,000 - $406,600 = $556,400
and
Recoverable Amount is the higher of
1. Value in use = $535,000
2. Fair Value less cost to sell $428,000
therefore,
Recoverable Amount is $535,000
Conclusion :
Since, Carrying Amount ($556,400) > Recoverable Amount ($535,000), the asset is impaired.
Impairment loss = $21,400 ($556,400 - $535,000).
Since 2009, with the release of IFRS 9, which covers the classification/ measurement of financial assets, which is also known as phase I of the replacement of IAS, the IASB is seeking to move the valuation of financial instruments closer to:
Answer:
Amortized Value
Explanation:
On 12 November 2009, IFRS 9 which deals with Financial Instruments was issued, covering Classification and Measurement of financial assets. This replaced IAS 39 : Financial Instrument Recognition and Measurement.
The new standard, IFRS 9 divides all financial instruments that are currently within the scope of IAS 39 into two classifications which are (1) those measured at amortized cost and (2) those measured at fair value.
Therefore, the IASB is seeking to move the valuation of financial instruments closer to Amortized Value.
Do you think GDP is the best indicator to measure the living standard of a country? Justify your answer (4 marks)
Explanation:
GDP is an indicator of a society's standard of living, but it is only a rough indicator because it does not directly account for leisure, environmental quality, levels of health and education, activities conducted outside the market, changes in inequality of income, increases in variety, increases in technology,
GDP is an accurate indicator of the size of an economy and the GDP growth rate is probably the single best indicator of economic growth, while GDP per capita has a close correlation with the trend in living standards over time.
) A price change would have the largest income effect on a A) magazine. B) tablet computer. C) piece of clothing. D) car.
Answer:
d
Explanation:
A change in price leads to two effects :
The income effect The substitution effectThe income effect is the change in quantity demanded as a result of a change in real income which affects the consumes purchasing power.
A car constitutes a very large part of a consumers expenditure due to its cost. Thus, the income effect for a car would be the largest
The substitution effect is the change in demand as a result of change in the price of the good compared to the price of another substitute good.
Why is it important for HR management to transform from being primarily administrative and operational to a more strategic contributor
Jack Corporation purchased a 22% interest in Jill Corporation for $1,640,000 on January 1, 2018. Jack can significantly influence Jill. On December 10, 2018, Jill declared and paid $1.7 million in dividends. Jill reported a net loss of $4.2 million for the year. What amount of loss should Jack report in its income statement for 2018 relative to its investment in Jill
Answer:
the loss reported in its income statement is $924,000
Explanation:
The computation of the loss reported in its income statement is as follows;
= Loss reported by Jill × percentage of purchased interest of jack in Jill
= $4,200,000 × 22%
= $924,000
Hence, the loss reported in its income statement is $924,000
The same is considered and relevant too
A publishing company has estimated the following cost probability distribution for the next year. What is the expected cost to the publishing company
Answer: $595
Explanation:
First find the probability of a $2,000 loss.
= 1 - other probabilities
= 1 - 0.6 - 0.05 - 0.13
= 0.22
Expected cost to the publishing company is a weighted average of the costs:
= (0 * 0.60) + (500 * 0.05) + (1,000 * 0.13) + (2,000 * 0.22)
= $595
Lands' End orders blazers that it has been selling for the last 20 years in misses sizes, but in a new fabric and in new larger woman's sizes. This would more than likely be an example of a:
Answer:
New buy
Explanation:
Based on the information given NEW BUY occur in a situation where a person or an individual order a brand new products that has already been selling for a long period of time in which the new product that is been ordered must be different from the one that was already in existence before now and the new products will have to be produce with a new material which will as well include brand new different design as well a different size just as in the case of Lands' End .
Therefore This would more than likely be an example of a: NEW BUY
On August 1, 2021, Dambro Company acquired 1,200, $1,000, 9% bonds at 97 plus accrued interest. The bonds were dated May 1, 2018, and mature on April 30, 2027, with interest paid each October 31 and April 30. The bonds will be added to Dambro's available-for-sale portfolio. The preferred entry to record the purchase of the bonds on
Answer:
Dr Debt Investments 1,164,000
Dr Interest Revenue 27,000
Cr Cash 1,191,000
Explanation:
Preparation of The preferred entry to record the purchase of the bonds
Based on the information given the preferred journal entry to record the purchase of the bonds will be :
Dr Debt Investments 1,164,000
(1,200 × $1,000 × .97)
Dr Interest Revenue 27,000
($1,200,000 × .09 × 3/12)
(04/31 – 08/01)
Cr Cash 1,191,000
($1,164,000 + $27,000)
working capital is defined as A. All assets available for sale after long term debt is paid off. B. The assets that the company keeps for more than one year. C. The current assets divided by current liabilities. D. The current assets remaining after paying current liabilities.
Answer:
D. The current assets remaining after paying current liabilities
Explanation:
These are just some examples of consumer drug laws. Can you state two more examples for consumers or for you when you enter your medical profession
Answer:
1) It is not appropriate to import products that are not useful or prohibited in other countries.
2) Consumer education related to the use of drugs and medications should be encouraged at all socio-economic levels.
Explanation:
Consider the provided information.
Drug law is a law that tracks the development, selling, and use of legal drugs. Such examples of regulations on consumer drugs are:
1) It is not appropriate to import products that are not useful or prohibited in other countries.
2) Consumer education related to the use of drugs and medications should be encouraged at all socio-economic levels.
The food and the drug act purohits the interstate trade of drugs and adulterer food and drinks.
FDA is responsible for the protection of the public firm the unsafe foods and drugs for medical use. They consider the consumer education related to the use of drugs and medications should be encouraged at various levels.Learn more about the some examples of consumer drug laws.
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If the firm sells its product at the market price of $10 per unit, how many workers should the firm employ to maximize profit if the wage rate is $55
Answer:
the data regarding output and the quantity of labor is missing, so I looked for a similar question and found the attached image.
if one employee is hired, total production = $80, and total cost = $55
if two employees are hired, total production = $150, and total cost = $110
if three employees are hired, total production = $210, and total cost = $165
if four employees are hired, total production = $260, and total cost = $260
hiring four employees should maximize profits since MC = MR
Your friend, Caitlyn, does not think it is important to review her monthly credit card statement. Instead, she just sets up an automatic minimum payment on the 18th of each month. Convince Caitlyn that this is a bad idea.
Answer: This is a bad idea to set up a automatic minimum payment on the 18 of this month because it can be fraud risk, pricing disparities, minimum payment that is terrible. And in a cause to that, she has to pay extra, has to silly small fees, and picking the same day every month but will change due dates.
I will convince Caitlyn that this is a bad idea because the automatic minimum payment might not be favorable because it will create a backlog if repayment are not done as it is suppose to be paid,
The automatic minimum payment in this context means the automatic (standard) repayment plan of the loan borrowed.
Majority of borrowers are placed on the standard repayment plan because it is automatic.
However, the standard repayment plan might not be favorable because it will create a backlog if repayment are not done as it is suppose to be paid,
Read more about repayment plan
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By Nike changing the technology in their shoe, they are taking on a role of being more socially responsible. What type of business practice is Nike partaking in as they incorporate doing well by doing good into their business model
Explanation:
In this case, Nike is incorporating corporate governance into its business model, which is defined as a model for managing companies using the best market practices, using transparency, equity and social and environmental responsibility as essential parameters.
Companies today are no longer perceived by society as merely profitable entities, it is a social demand that companies assist in the development of society and minimize their impacts on the environment.
When companies develop programs to support society and sustainability, it guarantees the advantages of being better positioned in the market, attracting more investors, adding more value to its products and services and gaining a strategic and competitive advantage in the market.
$300 received in 10 yearsa. Rank the alternatives from most valuable to least valuable if the interest rate is 10% per year.b. What is your ranking if the interest rate is only 5% per year
Answer:
a. 200 received in 5 years is the most valuable, $300 received in 10 years is the second most valuable, while $100 received in one year is the least valuable.
b. $300 received in 10 years is the most valuable, $200 received in 5 years is the second most valuable, while $100 received in one year is the least valuable.
c. $100 received in one year is the most valuable, $200 received in 5 years is the second most valuable, while $300 received in 10 years is the least valuable.
Explanation:
Note: This question is not complete. The complete question is therefore provided before answering the question as follows:
Consider the following alternatives:
i. $100 received in one year
ii. $200 received in 5 years
iii. $300 received in 10 years
a. Rank the alternatives from most valuable to least valuable if the interest rate is 10% per year.
b. What is your ranking if the interest rate is only 5% per year?
c. What is your ranking if the interest rate is 20% per year?
The explanation of the answers is now given as follows:
The ranking can be done after calculating the present value of each amount using the following present value (PV):
PV = FV / (1 + r)^n ………………… (1)
Where;
PV = Present value of the amount
FV = Future value of the amount or the amount to be received
r = interest rate
n = number of years
Ranking rule: After applying the above PV formula, the largest PV is ranked as the most valuable while the lowest PV is ranked as the least valuable.
Therefore, we can now proceed as follows:
a. Rank the alternatives from most valuable to least valuable if the interest rate is 10% per year.
Using equation (1), we have:
i. PV of $100 received in one year = $100 / (1 + 10%)^1 = $90.91
ii. PV of $200 received in 5 years = $200 / (1 + 10%)^5 = $124.18
iii. PV of $300 received in 10 years = $300 / (1 + 10%)^10 = $115.66
Based on the calculated PVs and the ranking rule above, $200 received in 5 years is the most valuable, $300 received in 10 years is the second most valuable, while $100 received in one year is the least valuable.
b. What is your ranking if the interest rate is only 5% per year?
Using equation (1), we have:
i. PV of $100 received in one year = $100 / (1 + 5%)^1 = $95.24
ii. PV of $200 received in 5 years = $200 / (1 + 5%)^5 = $156.71
iii. PV of $300 received in 10 years = $300 / (1 + 5%)^10 = $184.17
Based on the calculated PVs and the ranking rule above, $300 received in 10 years is the most valuable, $200 received in 5 years is the second most valuable, while $100 received in one year is the least valuable.
c. What is your ranking if the interest rate is 20% per year?
Using equation (1), we have:
i. PV of $100 received in one year = $100 / (1 + 20%)^1 = $83.33
ii. PV of $200 received in 5 years = $200 / (1 + 20%)^5 = $80.38
iii. PV of $300 received in 10 years = $300 / (1 + 20%)^10 = $48.45
Based on the calculated PVs and the ranking rule above, $100 received in one year is the most valuable, $200 received in 5 years is the second most valuable, while $300 received in 10 years is the least valuable.
Campbell, a single taxpayer, earns $400,000 in taxable income and $2,000 in interest from an investment in State of New York bonds. (Use the U.S. tax rate schedule). Required: If Campbell earns an additional $15,000 of taxable income, what is her marginal tax rate on this income
Answer: 35%
Explanation:
First and foremost, we've to calculate the amount that will be taxed on $400000 which will be:
= $46628.50 + ($400000-$204100) × 35%
= $46628.50 + ($400000-$204100) × 0.35
= $46628.50 + $68565
= $115193.5
When earns an additional $15,000 of taxable income, this means her total taxable income will be:
= $400,000 + $15,000
= $415000
Therefore, the tax amount on $415000 will be:
= $46628.5 + ($415000 - $204100) × 35%
= $46628.5 + ($415000 - $204100) × 0.35
= $120443.5
Marginal Tax rate will then be calculated as:
= change in Tax / change in Taxable income
= ($120443.5 - $115193.5) / ($415000 - $400000)
= $5250 / $15000
= 35%
g: Describe the process of "borrowing at the Federal Reserve." What rate is charged, and who sets it? Why do banks commonly borrow in the federal funds market rather than through the Federal Reserve? © Cengage
Answer: See explanation
Explanation:
Borrowing from the Federal reserve is typically used by banks so that they can go above the minimum reserve. This is done typically using the discount window.
The rate that is charged when the banks borrow from the Federal reserve is typically set by the Federal reserve. The reason why banks commonly borrow in the federal funds market rather than through the Federal Reserve is due to the fact that a lower rate is charged when one borrows from the federal funds market rather than borrowing from the Federal reserve.
If the absolute price of good X is $10 and the absolute price of good Y is $14, the relative price of good X in terms of good Y is
Answer: 1X = 5/7Y
Explanation:
Relative price is the price of a particular good when such good is being compared with another good. The relative price of good X in terms of good Y will be:
= Absolute price of X / Absolute price of Y
= 10/14
= 5/7
Therefore, 1X = 5/7Y
Re-engineering a software system has two key advantages over more radical approaches to system evolution: Select one: a. Reduced Risk and Reduced Cost b. No Risk and Low cost c. Risk Free and Cost effective d. None of the above
Answer:
a. Reduced Risk and Reduced Cost.
Explanation:
A software such as an operating system is a system software pre-installed on a computing device to manage or control software application, computer hardware and user processes.
This ultimately implies that, an operating system acts as an interface or intermediary between the computer end user and the hardware portion of the computer system (computer hardware) in the processing and execution of instructions.
Some examples of an operating system on computers are QNX, Linux, OpenVMS, MacOS, Microsoft windows, IBM, Solaris, VM etc.
Re-engineering a software system has two key advantages over more radical approaches to system evolution:
a. Reduced Risk: this is simply because redeveloping a software poses a high risk to the business organization or individual due to developmental issues or errors.
b. Reduced Cost: the process of re-engineering is usually cheaper for businesses.
Sunland Corporation purchased a limited-life intangible asset for $468000 on May 1, 2019. It has a useful life of 10 years. What total amount of amortization expense should have been recorded on the intangible asset by December 31, 2021
Answer: $124800
Explanation:
First, we have to calculate the ammortization expense which will be:
= $468000 / 10
= $46800
May 2019 = ($46800 × 8/12)
= $31200
December 2020 = $46800
December 2021 = $46800
Ammortization expense will now be:
= $31200 + $46800 + $46800
= $124800
g Perfection purchased a 25% stake in Satisfactory for $486,000 on Jan 2, 2021. On Jan 1, 2021, Satisfactory had a book value of equity on its balance sheet of $1,944,000. What is the value that Perfection records in it's books on Jan 2, 2021 related to its investment in Satisfactory
Answer:
The value that Perfection records in it's books on Jan 2, 2021 related to its investment in Satisfactory is:
$486,000.
Explanation:
a) Data and Calculations:
Net asset value of Satisfactory = $1,944,000 on acquisition date
Stake purchased by Perfection = 25%
25% of the net asset value of Satisfactory = $486,000 ($1,944,000 * 25%)
b) There is no goodwill arising from the investment in Satisfactory. The equity method will be used to account for the investment in the Satisfactory. The Equity Method involves recording the investment in an associated company like Satisfactory when Perfection's ownership interest in Satisfactory is valued at 20–50% of the net assets.
On January 2, Yorkshire Company acquired 29% of the outstanding stock of Fain Company for $440,000. For the year ended December 31, Fain Company earned income of $114,000 and paid dividends of $35,000. Prepare the entries for Yorkshire Company for the purchase of the stock, the share of Fain income, and the dividends received from Fain Company.
Answer:
1. Jan 2 Dr Investment in Fain company stock$440,000
Cr Cash $440,000
2. Dec 31 Dr Investment in Fain company stock 33,060
Cr Income of Fain company 33,060
3. Dec 31 Dr Cash $10,150
Cr Investment in Fain company stock $10,150
Explanation:
Preparation of the entries for Yorkshire Company for the purchase of the stock, the share of Fain income, and the dividends received from Fain Company.
1.Preparation of the entries for Yorkshire Company for the purchase of the stock
Jan 2 Dr Investment in Fain stock$440,000
Cr Cash $440,000
2. Preparation of The journal entry for the share of Fain income
Dec 31 Dr Investment in Fain stock 33,060
Cr Income of Fain company 33,060
(29%* $114,000)
3. Preparation of the journal entry for the dividends received from Fain Company.
Dec 31 Dr Cash $10,150
Cr Investment in Fain company stock $10,150
(29%$35,000)
In a market with an upward sloping supply curve and a downward sloping demand curve, when the actual price must be higher than the equilibrium price, there will be:
Answer:
excess supply
Explanation:
If price is higher than equilibrium price, quantity demanded would fall while quantity supplied would increase. This is in line with the law of demand and supply
according to the law of supply, the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.
According to the law of demand, the higher the price, the lower the quantity demanded and the lower the price, the higher the quantity demanded.
This accounts for why the supply curve is positively sloped.
how do you decide whether the company should employ aggressive capital investments in global business areas
Answer:
One key managerial tool that can help decide whether or not a company should employ aggressive capital investments in global business areas is capital budgeting.
Capital budgeting is a quantitative evaluation of the opportunities within a business space and helps management to decide based on the most acceptable trade-off between returns on investment and risk, which opportunity is worth taking a shot at.
Explanation:
Availability of Capital: Capital budgeting assumes that there is enough capital in the first place.
Payback Period: This is a budgeting technique that measures the time taken to recover the initial capital outlay into a business. Some investment have long payback periods other short payback time frame. A short payback period is generally more acceptable than a medium-term or longer-term payback. However, none of the payback period frames are in themselves good or bad. They become acceptable or not when compared to other factors. For example, in a business space or industry where there is a very high barrier to entry such as a patent protecting competition from replicating a similar product, a long-term payback becomes acceptable as long as it fall within the patent period.
There are so many other capital budgeting related factors that help the investor company decide how aggressive it should go. They are:
Internal Rate of ReturnProfitability IndexNet Present Value etcRisks: Given that the company is playing in the global business arena, knowledge about global risks and in-country specific risks are very strong determinants about whether or not the company can go aggressive.
If the financial feasibility is high and the risk is very high, the company may excercise restraint.
If the risks are very low, the company may go aggressive.
Detailed Business Plan: It is a very good practice to have a detailed business plan for investing in certain areas.
One key component of the business plan other than those already discussed is the Human Capital component.
If the risk of the investment if admissible and the financial feasibility checks out, there has to be adequate availability of human capital to manage the investments.
Regardless of how big the company is, I would thread carefully if we don't have tested and trusted hands at the executive level to oversee capital investments.
Cheers
When using the Copy to Purchase Order feature from within an Estimate, where do you need to turn on Use Purchase orders?
Answer:
Account and Settings > Expenses > Purchase orders
Explanation:
A major difference between the IFRS and US GAAP is: US GAAP is principle-based and IFRS is rule-based US GAAP allows capitalization of successful development for all industries GAAP is more cash flow oriented US GAAP allows LIFO
Answer:
US GAAP allows LIFO
Explanation:
The last in, first out (LIFO) inventory valuation system uses the price of the last units purchased in order to determine the cost of goods sold. The International Financial Reporting Standards (IFRS) require that companies use the first in, first out (FIFO) inventory valuation system or the weighted average system. While US GAAP accepts LIFO, FIFO or weighted average.
19. An investor has purchased a property that is giving him a 10% rate of return. Potential gross rents total $10,000.00 a month. Expenses for the property total $47,570.00 per year. The property has a vacancy rate of 8%. What is the market value of the property
Answer:
the market value of the property is $628,300
Explanation:
The computation of the market value of the property is shown below;
Gross rent $10,000 × 12= $120,000
Now
= $120,000 × .92 (occupancy rate)
= $110,400
After that
= $110,400 - $47,570
= $62,830
And ,finally the market value of the property is
= $62,830 ÷ 0.10
= $628,300
hence, the market value of the property is $628,300
The market value of the products or the goods and services is termed as the value of the company that is established as per the stock market. The current price of the company's share is totally based on the value and the goodwill of the company in the market.
The market value of the property is $628,300
The computation of the market value of the property is shown below;
Gross rent [tex]\$10,000 \times 12[/tex]= $120,000
Now,
= [tex]\$120,000\times .92[/tex] (occupancy rate)
= $110,400
After that
= $110,400 - $47,570
= $62,830
And ,finally the market value of the property is
= [tex]\frac{ \$62,830}{ 0.10 }[/tex]
= $628,300
Therefore, the market value of the property is $628,300
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The 20% off sale is a better deal than the $200 rebate or
$150 coupon for the $1,500 dining set. The Porters
budgeted $1,250 for a new dining room set. Explain why
this is the best deal for them. Are they under budget?
Answer:
See below
Explanation:
The dining set cost $1500.
A 20% off sale present a discount amount equal to
=20/100 x $1500
=0.2 x $1500
=$300.
The 20% off sale has a savings of $300 compared to the $200 rebates or $150 coupon.
If the Porters budgeted $1,250, and the dining set is $1500, the 20% off sale will require them to pay $1,200, which is within their budget.
Yes, the Porters are under budget. The 20% off sale is the best deal because $1,500 times 0.20 is $300. $300 is a bigger discount than the $150 coupon and $200 rebate. $300 off $1,500 is $1,200, which is less than the amount budgeted.