Answer:
B) should pack her bags for the trip; she earned it
Explanation:
In this scenario, it can be said that if the client purchases that annuity, the agent should pack her bags for the trip; she earned it. Since the annuity that has been recommended by the agent is offering her an incentive, and the agent fully disclosed that fact to the client, then she did her duty correctly. In the case that the client decides to purchase the annuity, they do so with full knowledge of the potential conflict of interest.
Spencer Co. has a $280 petty cash fund. At the end of the first month the accumulated receipts represent $51 for delivery expenses, $159 for merchandise inventory, and $20 for miscellaneous expenses. The fund has a balance of $50. The journal entry to record the reimbursement of the account includes a:
Answer:
Credit to cash $230
Explanation:
Preparation of the Journal entry for the reimbursement of the account of Spencer Co.
Based on the information given we were told that the company spent the amount of $51 for delivery expenses, the amount of $159 for merchandise inventory, and the amount of $20 for miscellaneous expenses from their petty cash fund at the end of the month, which means that the journal entry to record the reimbursement of the account will be:
Dr Delivery expenses $51
Dr Merchandise inventory $159
Dr Miscellaneous expenses $20
Cr Cash $230
(To record petty cash reimbursement)
stock market is a market for.?
Answer:
Explanation:
Stock market is a market for stocks ( shares ) for the buyers and sellers.
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Answer:
Stocks
Explanation:
Buyers would buy a share from the stock market hoping to sell the share later at a higher price therefore making a profit. This is what you would call systematic gambling, you know the risks and possible rewards. However sometimes the stock market can go down resulting in the buyer making a loss since the selling price of the share is less than the one the buyer bought.
Cole is refinishing an antique china cabinet and has already spent $180 on the restoration. He expects to be able to sell the cabinet for $360. Cole discovers that he needs to do an additional $200 worth of work to make the cabinet worth $360 to potential buyers. He could also sell the cabinet now, without completing the additional work, for $100. What should Cole do
Answer:
Cole should complete the additional work and sell the cabinet for $360.
Explanation:
If Cole sells the cabinet now for $100 and taken into account that he has already spent $180, this means that:
$100-$180= -$80
He would be losing $80.
On the other side, if he completes the additional work, he would sell the cabinet $360. However, his expenses would be:
$180+$200= $380
Now, you have to subtract the costs from the selling price:
$360-$380= -$20
This means that he would lose $20.
According to that, Cole should complete the additional work because he would be lose less money.
A working group convened by NASAA has developed a model fee disclosure schedule to help investors better understand the costs involved in doing business with their broker-dealer. The template has broker-dealers disclose all of the following fees except:________. A) charges for late payments B) account inactivity fee C) issuance of a stock certificate D) advisory fees
Answer:
Correct Answer:
C) issuance of a stock certificate
Explanation:
In the model developed by group working for NASAA which was to disclose model fee and cost involved in doing business with them, it would disclose all associated cost involved. The only thing it would not disclose would be regards to stock certificate issuance since it falls outside their perview.
A registered representative reads in that morning's newspaper that "Asian securities markets appear to have finally bottomed out." Based on this information, the registered representative calls each of her customers and says "Now is the time to buy Asia Fund." This action by the registered representative is:
Answer: Is a prohibited practice, since a suitability determination was not made for each client.
Explanation:
One of the major reasons of going into a particular field or specialization in market is if you really wanted and can suit the market you're going into. Emergency entry into the market sometimes can fail, the fact every opportunity opens up doesn't mean you'll jump into it; one thing to consider is; is it suitable for my organization to go after, then get to know the pros and cons, weigh them, then decide.
The manufacturer of a certain engine treatment claims that if you add their product to your engine, it will be protected from excessive wear. An infomercial claims that a woman drove 6 hours without oil, thanks to the engine treatment. A magazine tested engines in which they added the treatment to the motor oil, ran the engines, drained the oil, and then determined the time until the engines seized. Complete parts (a) and (b) below. (a) Determine the null and alternative hypotheses that the magazine will test. Upper H 0: mu equals 6 Upper H 1: mu less than 6 (b) Both engines took exactly 11 minutes to seize. What conclusion might the magazine make based on this evidence? A. The infomercial's claim is not true. B. The infomercial's claim is true.
Answer: (a)Null hypothesis: [tex]H_0:\mu=6[/tex]
Alternative hypothesis: [tex]H_a:\mu<6[/tex]
(b) Conclusion: A. The infomercial's claim is not true.
Explanation:
Let [tex]\mu[/tex] be the mean number of hours drove without oil .
(a) Since the woman drove 6 hours without oil because of the engine treatment.
We expect that this is too high to drive without oil
So, the hypothesis in this case would be
Null hypothesis: [tex]H_0:\mu=6[/tex]
Alternative hypothesis: [tex]H_a:\mu<6[/tex]
(b) 11 minutes is much lower than 6 hours.
That means it supports the alternative hypothesis.
Conclusion: A. The infomercial's claim is not true.
(I) Countries with more economic freedom during the past quarter of a century had a lower average per capita GDP.(II) Countries with more economic freedom during the past quarter of a century generally achieved higher rates of economic growth.Question 40 options:
Answer:
I. False
II. True
Explanation:
Economic freedom refers to the human right to own and control private property and decide how your labor should be used. When Economic freedom exists, people are able to contribute freely to the economy in a way that they prefer in a stable environment that supports their ventures.
Evidence has shown that in countries where people have the liberty to engage in business as they see fit, the Economies grew faster and had a higher average GDP per capita than countries that did not.
This is why developed countries (usually have higher economic freedom) are better off than a lot of developing countries where several factors such as corruption hinder economic freedom.
The receipt of dividends and interest from abroad as a result of ownership of foreign assets by a country's residents is recorded as what:____________.
Answer:
income-generating assets under the current account of the balance of payment.
Explanation:
In international trade to balance of payments between countries looks at inflow and outflow of funds as a result of trade.
When there is balance of trade deficit the country imports from others. When there is balance of payment surplus the country exports to others.
The fund movement is recorded in various accounts. These are current account, capital account, and financial account.
The current account is used to record funds recieved from goods, services, income, and current transfers.
The receipt of dividends and interest from abroad as a result of ownership of foreign assets by a country's residents is recorded as
income-generating assets under the current account of the balance of payment.
A properly licensed agent in Illinois, Missouri, and Iowa has a client who moves from Illinois to Michigan on July 1, 2014. On September 1 of that year, the agent sells him 100 shares of a nonexempt security in a nonexempt transaction. On October 1, 2015, the client discovers that the agent's firm never licensed him in Michigan and that the agent is subject to civil liability to the purchaser. The statute of limitations for this sale runs out on
Answer: September 1, 2017
Explanation: The statute of limitation could be explained as a window period within which a civil violation or case may be filed by a plaintiff. Once this window period expires, the defendant may raise a claim against such case with respect that statute of limitation has been violated. In the scenario described above, the offense could be regarded as a professional malpractice with a statute of limitation of two years after the discovery of the incident which in this case is October 1, 2015, hence the statute of limitation of the sale will run out 2 years after October 1, 2015 which is September 1, 2017.
On May 27, Buzz Off Inc. reacquired 5,500 shares of its common stock at $23 per share. On August 3, Buzz Off sold 3,200 of the reacquired shares at $26 per share. November 14, Buzz Off sold the remaining shares at $22 per share.
Journalize the transactions of May 27, August 3, and November 14. For a compound transaction, if an amount box does not require an entry, leave it blank.
May 27_____
Aug. 3_____
Nov. 14_____
Answer:
May 27
Dr Treasury Stock $126,500
Cr Cash $126,500
Aug. 3
Dr Cash $83,200
Cr Treasury Stock $73,600
Cr Paid-in Capital from Sale of Treasury Stock $9,600
Nov. 14
Dr Cash $50,600
Dr Paid-in Capital from Sale of Treasury Stock $2,300
Cr Treasury Stock $52,900
Explanation:
Preparation for the Journal entries for Buzz Off Inc
May 27
Dr Treasury Stock $126,500
(5,500 × $23)
Cr Cash $126,500
Aug. 3
Dr Cash $83,200
(3,200 × $26)
Cr Treasury Stock $73,600
(3,200 × $23)
Cr Paid-in Capital from Sale of Treasury Stock $9,600[3,200 × ($26 – $23)]
Nov. 14
Dr Cash $50,600
($5,500-$3,200 × $22)
Dr Paid-in Capital from Sale of Treasury Stock $2,300
[$5,500-$3,200 × ($23 – $22)
Cr Treasury Stock $52,900
(2,300 × $23)
ADAP Advisers is offered a large block of ACME stock (a NYSE-listed issue) by an institutional investor at a 20% discount to the current market price, if ADAP Advisers is willing to buy the block that day. Which statement is TRUE if ADAP purchases the block for its own account rather than for its customers
Options :
A. This action is prohibited without exception, since ADAP Advisers is benefiting at the expense of its customers
B. This action is permitted if ADAP Advisers rebates any profit that it earns to its customers when it sells the block
C. This action is permitted if the purchased stock is not a suitable investment for ADAP's customers
D. This action is permitted if the block is purchased in the Third Market during the hours that the NYSE is closed
Answer: C.) This action is permitted if the purchased stock is not a suitable investment for ADAP's customers
Explanation: ADAP being a professional in the aspect of advisory investment, have a legal and ethical responsibility or obligation called fiduciary duties to their clients, both buyers and sellers. Therefore it is always very important to keep this at the forefront of their dealings in other to avoid soiling their reputation and integrity. Therefore, even though the stock offered to ADAP advisers is at substantial discount, ADAP advisers must ensure that the stock is a suitable investment for it's customers before offering it to them.
The fact that ADAP purchased the stick on it's own account may reasonably infer that the stick is not a suitable investment for it's customers.
"A customer buys 300 shares of ABC at $40, depositing the Regulation T requirement on the 3rd business day after trade date. He holds the position for two months, during which $100 of interest is charged on the debit balance. What is the adjusted debit balance at the end of the two month period?"
Answer:
Explanation:
Given the following :
Number of shares = 300
Cost per share = $40
Interest charge = $100
Total cost of shares = (number of shares * purchase price)
Total cost of shares = 300 * $40 = $12000
The regulation T says an investor cannot borrow more than 50% of the purchase price.
Therefore, 50% of shares cost :
(50/100) * $12,000
0.5 * $12,000
= $6000
Therefore, Adjusted debit balance :
$6000 + $100 = $6,100
On January 15, 2021, Bella Vista Company enters into a contract to build custom equipment for ABC Carpet Company. The contract specifies a delivery date of March 1. The equipment was delivered on March 31. The contract requires full payment of $75,000 30 days after delivery. The revenue for this contract should be recorded on
Answer:
31 March 2021
Explanation:
The contract should be recorded on 31 March 2021 because according to the US Generally Accepted Accounting Principles, revenue should be recognize in the book only when service has been rendered to the customer, the selling price of product is fixed and confirmation of service arrangement and amount to be collected.
With regards to the above scenario, since the equipment was not delivered until 31 March, then 31 of March will be recognized.
One way to obtain the economically efficient amount of college education is for governments to subsidize college education. What is the size of the per-student Pigouvian subsidy that the government must provide to internalize the external benefits
Answer:
The remaining part of the question is given below:
(Note that the subsidy can be granted to the education institutions or to the students directly or indirectly; for example, through low- interest student loans.)
a. P2-P0
b. P2-P1
c. P0-P1
d. P1
Correct Answer:
b. P2-P1
Explanation:
A pigouvian subsidy is a subsidy that is used to encourage behaviour that have positive effects on others who are not involved or society at large. Behaviors or actions that are a benefit to others who are not involved in the transaction are called positive externalities.
__________defines quality system standards, based on the premise that certain generic characteristics of management practices can be standardized and that a well-designed, well-implemented, and carefully managed quality system provides confidence that the outputs will meet customer expectations and requirements.
Answer:
International Organization for Standardization (ISO).
Explanation:
ISO defines quality system standards, based on the premise that certain generic characteristics of management practices can be standardized and that a well-designed, well-implemented, and carefully managed quality system provides confidence that the outputs will meet customer expectations and requirements. ISO is an acronym for International Organization for Standardization, it was founded in October 1946 and it is made up of 164 members from 91 different countries across the world. ISO is a Non-governmental organization that has its headquarters in Geneva, Switzerland.
On April 1, Aloe, Inc. factored $80,000 of its accounts receivable without recourse. The factor retained 10% of the accounts receivable as an allowance for sales returns and charged a 5% commission on the gross amount of the factored receivables. What amount of cash did Aloe receive from the factored receivables
Answer: $68,000
Explanation:
Based on the information that have been provided in the question, the amount of cash that Aloe receive from the factored receivables will be:
= $80,000 - (10% × $80,000) - (5% × $80,000)
= $80000 - $8000 - $4000
= $80,000 - $12,000
= $68,000
Explain the concept of an opportunity cost with an appropriate example
Answer:
Explanation:
Opportunity cost is an economics tool that is useful in the process of making a choice of goods and services in order to ensure that scarce resources are used efficiently.
The opportunity cost of a product or service is the name given to an income that could be earned when such product or service is put to an alternative use.
It can also be described as the cost of the alternative forgone to achieve a particular product or service
For an example , if a student decides to give up on watching a movie to study for his exam , the opportunity cost of the exam is the cost and pleasure related to the movie
For a manufacturing company to be effective, it must Select one: a. use fewer workers while maintaining productivity. b. take less time than before to produce a given output. c. set appropriate goals and achieves them. d. generate employment for a large number of people.
Answer:
The correct answer is:
set appropriate goals and achieves them (c.)
Explanation:
In business, effectiveness refers to the quality of results from completed tasks by both employees and the manager. For effectiveness is said to occur, the results delivered must be done consistently, and in this regard, the company must set appropriate achievable time-oriented goals and achieve them within the time frame. The main idea of effectiveness is productivity, and productivity is result-oriented.
Wohlers Co. considers a project that will require an initial investment of 5 million. It has a target capital structure of 30% debt, 5% preferred stock, and 65% common equity. Wholers Co. has outstanding 20-year noncallable bonds with a face value of $1,000. These bonds have a current market price of $1,181.96 and an annual coupon rate of 13%. The company faces a tax rate of 40%, and can sell shares of preferred stock that pay an annual dividend of $7.50 at a price of $89.25 per share. The company's common stock is currently selling for $22.35 per share and pays a dividend of $2.45 today. The common stock's growth rate is a constant rate of 9.2%. What will be the WACC for the project
Answer:
WACC = 16.18%
Explanation:
cost of equity (Re):
P₀ = Div₁ / (Re - g)
$22.35 = ($2.45 x 1.092) / (Re - 9.2%)
$22.35 = $2.6754 / (Re - 9.2%)
Re - 9.2% = $2.6754 / $22.35 = 11.97%
Re = 11.97% + 9.2% = 21.17%
after tax cost of debt:
YTM = {130 + [(1,000 - $1,181.96)/ 20]} / [(1,000 + $1,181.96)/ 2] = 120.902 / 1,090.98 = 11.08%
after tax cost of debt = 11.08% x (1 - tax rate) = 11.08% x 0.6 = 6.65%
cost of preferred stocks = $7.50 / $89.25 = 8.40%
WACC = (0.65 x 21.17%) + (0.05 x 8.4%) + (0.3 x 6.65%) = 13.76% + 0.42% + 2% = 16.18%
an object travels 16 metre in 4 seconds and then another 16 metre in 2second what is the average speed of the object
Answer:
6m/s
Explanation:
Given the information :
an object travels 16 metre in 4 seconds and then another 16 metre in 2second.
what is the average speed of the object?
First portion of travel:
Distance = 16 meters
Time = 4 seconds
Second portion:
Distance = 16 meters
Time = 2 seconds
Speed is calculated as the proportion of distance traveled to the time taken.
Speed = distance / time
First portion :
Speed attained
Distance / time = speed
16 meters / 4 seconds = 4m/s
Second portion:
Speed attained
Distance / time = speed
16 meters / 2 seconds = 8m/s
Average speed :
(first portion + second portion) / 2
(4m/s + 8m/s) / 2
12m/s ÷ 2
= 6m/s
Bonds with detachable stock warrants were issued by Flack Co. Immediately after issue the aggregate market value of the bonds and the warrants exceeds the proceeds. Is the portion of the proceeds allocated to the warrants less than their market value, and is that amount recorded as contributed capital
Answer: Yes
Explanation: Bonds with detachable stock warrants could be explained as bonds which gives the holder an added offer of being able to purchase a certain asset a a specified price at a certain time. According to the scenario above, the income generated from the Issuance of the bond falls below the aggregate market value of the bond, In this case, the portion of the proceed allocated to the warrant will be less than their market value which is largely due to the impact of the shortfall in the proceed generated from Issuance of the bond. Due to the shortfall in the allocated proceed, the share of proceed applied to the warrant will be noted as outstanding in the detachable stock warrant.
On january 1, 2017, finch company issued $89,000 of five-year, 8% bonds when the market interest rate was 12%. the issue price of the bonds was $73,000. finch uses the effective-interest method of amortization for bond discount. semiannual interest payments are made on june 30 and december 31 of each year. how much interest expense will be recorded when the first interest payment is made? (round your answer to the nearest dollar number.)
Answer:
$4,380
Explanation:
The calculation of the interest expense recorded in the first year is given below:
= Issued price of the bond × market interest rate ÷ semi annual period
= $73,000 × 12% ÷ 2
= $73,000 × 6%
= $4,380
Therefore, the interest expense would be recorded when the interest payment is made is $4,380
We simply used the above formula
Harley-Davidson disciples share a common, deeply held attraction to the brand. Harley appeals include: freedom, independence, power, and authenticity. Harley-Davidson doesn't just sell motorcycles. It sells self-expression, lifestyles, aspirations, and dreams. This illustrates core customer values
Answer: Brand personality
Explanation:
Brand personality is what the customers can easily relate to about a particular brand. To develop and maintain a strong brand, having a brand personality is vital.
From the question, we are informed that Harley appeals include freedom, independence, power, and authenticity and that Harley-Davidson doesn't just sell motorcycles, it sells self-expression, lifestyles, aspirations, and dreams. This illustrates brand personality.
True, its illustrated Core Customer Value.
Core customer values refers to the perception of what a product or service of a company is worth to a customer against the effort of buying such product.
These values are what attracts customers to a product or a firm.Question sometime asked by customer that what do i gain from this product despite being costlier? The Core values the customer got from the product or firm keeps the attraction.In conclusion, the values are displayed effectively by product or firms in other to persuade new customer as well as to attract existing customers.
Learn more about Core customer values here
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Which of the following is NOT a factor to consider when examining extrinsic job satisfaction?
a. pay
b. coworkers
c. job tasks
d. supervisors
Answer:
The answer is C) Job tasks
Answer:
c
Explanation:
An account related with another account on the financial statements that 1) directly reduces the related account and 2) has an opposite normal balance than the related account, is a(n) Multiple Choice Permanent account Temporary account Contra account.
Answer:
Contra account.
Explanation:
A contra account is an account that has an opposite of what is the normal balance for the class of such an account. a company would be able to report the original amount and in so doing also be able to report the reduction and then what is the net amount would be reported. in other words such an account is used to reduce the value of another related account. And thereafter the net value is what is going to be reported.
The government decides to increase its expenditures by $350. The multiplier in this economy is 4 and the tax rate is 22 percent. The net effect of this expansionary fiscal policy is to: Group of answer choices
Answer:
Increase the budget shortage by $42
Explanation:
The government decides to increase expenditure by $350
The multiplier in the income is 4
The tax rate is 22%
= 22/100
= 0.22
The first step is to calculate the increase in income
= $350×4
= 1,400
The tax revenue which will be derived from the new income can be calculated as follows
= 0.22×1,400
= 308
Therefore, the net effect can be calculated as follows
Net effect= $350-$308
= $42
Hence the net effect of this expansionary fiscal policy is to make an increase in the budget shortage by $42
The beta of Ricci Co.'s stock is 3.2, whereas the risk-free rate of return is 9 percent. If the expected return on the market is 18 percent, then what should investors expect as a return on on Ricci Co.?
Answer:
Investors expect a return of 37.80 %.
Explanation:
The return that investors expect is the cost of equity to Ricci Co.
Cost of Equity = Return on Risk Free Security + Beta × Risk Premium
Where,
Risk Premium = Return on Market Portfolio - Return on Risk Free Security
= 18.00% - 9.00%
= 9.00 %
Cost of Equity = 9.00% + 3.2 × 9.00 %
= 37.80 %
Crane Sales Company uses the retail inventory method to value its merchandise inventory. The following information is available for the current year:
Cost Retail
Beginning inventory $ 30,000 $ 45,000
Purchases 190,000 260,000
Freight-in 2,500 —
Net markups — 8,500
Net markdowns — 10,000
Employee discounts — 1,000
Sales revenue — 205,000
If the ending inventory is to be valued at the lower-of-cost-or-market, what is the cost-to-retail ratio?
a) $220,000 ÷ $315,000
b) $222,500 ÷ $305,000
c) $222,500 ÷ $313,500
d) $222,500 ÷ $303,500
Answer:
c) $222,500 $313,500
Explanation:
Calculation for cost-to-retail ratio
COST
Beginning inventory $ 30,000
Add: Purchases $190,000
Add: Freight-in $2,500
Cost=$222,500
RETAIL
Beginning inventory $ 45,000
Add: Purchases $260,000
Add: Net markups $8,500
Retail = $313,500
Therefore the cost-to-retail ratio will be $222,500 $313,500
In a Cournot market with two firms, the inverse market demand curve is P = 20 – 0.5Q, where Q = q1 + q2. (Firm 1's output = q1; Firm 2's output = q2.) If Firm 2 produces 20 units of output, Firm 1's residual marginal revenue curve is depicted in:
Answer:
MR = 10 – 1q1.
Explanation:
Demand function, P = 20 – 0.5Q
Q = q1 + q2
Now insert Q in the P = 20 – 0.5Q.
P = 20 – 0.5 (q1 + q2)
We have the value of q2 = 20.
P = 20 – 0.5 (q1 + q2)
P = 20 – 0.5 (q1 + 20)
P = 20 – 0.5q1 – 10
P = 10 – 0.5q1
Total revenue of firm 1, TR = Pq1
TR = 10q1 – (0.5q1)^2
Now MR is the differentiation of TR. So the MR after differentiation if TR of firm 1 is:
MR = 10 – 1q1
