Answer:
Behavioral economics differs from traditional economics by incorporating insights from psychology. ... Behavioral economics assumes that the context in which a decision is made has an enormous effect on the decision or preference.
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A car dealer acquires a used car for $12,000, with terms FOB shipping point. Compute total inventory costs assigned to the used car if additional costs include $100 for transportation-in. $170 for shipping insurance. $800 for car import duties. $140 for advertising. $1,400 for sales staff salaries. $150 for trimming shrubs.
Answer:
$13,070Explanation:
The Cost of inventory = all cost of purchase; including costs of conversion and transfer.
Calculation of Inventory Cost FOB ship.
Cost of Purchase $12,000
Transportation-in $100
Shipping insurance $170
Car import duties $800
Total Cost $13,070
The Kissel Trucking Company Inc. has a defined benefit pension plan for its employees. At December 31, Year 1, the following information is available regarding Kissel's plan:
Fair value of plan assets $30,000,000
Present value of defined benefit obligation 38,000,000
Service costs 4,000,000
Interest costs 1200,000
Actuarial gains 150,000
Past service costs 375,000
Required:
Determine the amount that Kissel will report on the balance sheet as of December 31, Year 1, for this pension plan under IFRS.
Answer:
Under IFRS, net defined benefit liability is reported in balance sheet when Present value of defined benefit obligation (PVDBO) exceeds Fair value of plan assets(FVPA) which results in deficits.
In this case, PVDBO exceeds FVPA, then the difference betwen the two ix the net defined benefit liability.
Difference of PVDBO and FVPA = $38,000,000 - $30,000,000 = $8,000,000. Hence, net defined benefit liability reported in the balance sheet is $8,000,000.
How do financial intermediaries impact the market efficiency?
Answer:
help create efficient markets and lower the cost of doing business. Intermediaries can provide leasing or factoring
Explanation:
These intermediaries help create efficient markets and lower the cost of doing business . Intermediaries can provide leasing or factoring services , but do not accept deposits from the public . Financial intermediaries offer the benefit of pooling risk , reducing cost , and providing economies of scale , among others .
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As you learned more and more about the complexity of the HRM role, what do you view as the most challenging aspect of HRM in the international context? How do you view the impact of expatriates on your role in HRM?
Answer:
The interpretation including its question would be characterized in the explanatory segment elsewhere here.
Explanation:
(a)
The cultural divide is perhaps the most compelling as that of the complexities of corporation dramatically change in something like a foreign environment. Besides example, a thumbs-up gesture, which would be a complimentary sign throughout the West as well as the US, seems to have a different meaning in several other cultural groups and therefore is construed as bad-mannered throughout Asian countries like Thailand, whereby the significance has been less than that of trying to stick someone's hard to both the West.(b)
The negative effect of ex-pats mostly on the position of HRM would be that individuals start making the importance of HRM so much enlightening. The HR seems to be essential for safeguarding expatriates and then for the HR to safeguard foreign nationals, this should understand the ways of foreign residents such that the HR could even start educating other staff mostly on cultural values of migrants.National Orthopedics Co. issued 9% bonds, dated January 1, with a face amount of $900,000 on January 1, 2018. The bonds mature on December 31, 2021 (4 years). For bonds of similar risk and maturity the market yield was 10%. Interest is paid semiannually on June 30 and December 31.
(FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the standard factor tables.)
Required:
1. Determine the price of the bonds at January 1, 2018.
2. Prepare the journal entry to record their issuance by National on January 1, 2018.
3. Prepare the journal entry to record interest on June 30, 2018.
4. Prepare the appropriate journal entries at maturity on December 31, 2021.
Table Values Based On:
n=
i=
Cash Flow Amount Present Value
Interest
Principal
Price of Bonds
Answer:
1. Determine the price of the bonds at January 1, 2018.
PV of face value = $900,000 / (1 + 5%)⁸ = $612,525
PV of coupon payments = $40,500 x 6.4632 (PV annuity factor, 5%, 8 periods) = $261,760
market price of bonds = $874,285
2. Prepare the journal entry to record their issuance by National on January 1, 2018.
January 1, 2018, bonds issued at a discount
Dr Cash 874,285
Dr Discount on bonds payable 25,715
Cr Bonds payable 900,000
3. Prepare the journal entry to record interest on June 30, 2018.
Dr Interest expense 43,714
Cr Cash 40,500
Cr Discount on bonds payable 3,214
4. Prepare the appropriate journal entries at maturity on December 31, 2021.
Dr Bonds payable 900,000
Dr Interest expense 43,714
Cr Cash 940,500
Cr Discount on bonds payable 3,214
He's a cat in boots and he don't wear socks but he does his little business in a litter box yes his little business in a litterrrr boxxxxx his business that I will not dicuss (might not know where this is from )
Answer:
what the heck is this?? lol
Explanation:
Which of the following statements accurately describe the phases of a business cycle?
A. A contraction phase is when an economy exhibits decreasing levels of production and consumption.
B. A period of expansion is when an economy exhibits decreasing levels of production and spending.
C. A trough occurs at the end of the contraction phase and the beginning of the expansion phase
D. A peak level of business activity occurs at the end of the expansion phase and the beginning of the contraction phase.
Answer:
Option A
Explanation:
In simple words, contraction relates to a period of the market cycle throughout which the market is in recession as a group When the economic cycle rises, a recession usually occurs, just before it reaches a trough. A contraction is triggered by three kinds of occurrences. We are talking of a sharp spike in borrowing rates a banking crash, or uncontrolled inflation . Paranoia and anxiety replace assurance.
Increase cost and tend to place less
experienced employee in job is due
High rate of:
Select one:
a. Absenteeism
b. Strikes
c. Training
d. Employee Turnover
= Employee Turnover
Answer:
Employee Turnover it is.
Explanation:
A has nothing to do with this.
B only affects one person.
C isnt a negative effect.
Increase cost and tend to place less experienced employee in job is due high rate of Employee Turnover Option(d) is correct.
What is Employee turnover?
With regards to HR, turnover is the demonstration of supplanting a representative with another worker. Partings among associations and representatives might comprise of end, retirement etc.
Employee turnover alludes to the complete number of laborers who leave an organization throughout a specific time span. It incorporates the individuals who exit willfully as well as employees who are terminated or laid off — that is, compulsory turnover. Turnover is not quite the same as steady loss.
Causes incorporate issues with the organization's way of life, its advantages and remuneration structure, its profession way and preparing, administrators and considerably more. High deliberate turnover influences benefit and, frequently, consumer loyalty. On the substantial side, enrolling new people is exorbitant.
When in doubt, employee degrees of consistency of 90% or higher are viewed as great and an organization ought to hold back nothing pace of 10% or less.
Therefore Option(d) is correct.
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13.) An investor is in a 30% combined federal plus state tax bracket. If corporate bonds offer 6% yields, what yield must municipals offer for the investor to prefer them to corporate bonds
Answer:
the yield that must offer for the investor in order to prefer them is 4.2%
Explanation:
The computation is shown below:
The after tax yield is
= Corporate bond yield × (1 - tax rate)
= 6% × (1 - 0.30)
= 6% × 0.70
= 4.2%
hence, the yield that must offer for the investor in order to prefer them is 4.2%
The same is relevant
$400 invested with compound interest at a rate of 3% per year for 2 years. Formula: M = P(1+ i)n
Answer:
$424.36
Explanation:
The applicable formula =M= P ( 1+ r)^2
Where M is the amount after two years
P = principal amount: $400
r = interest rate: 3% or 0.03
n =number of period :2
M= $400 x ( 1+ 0.03) ^ 2
M=$400 x 1.0609
M= $424.36
Ford Motor Company is considering launching a new line of hybrid diesel-electric SUVs. The heavy advertising expenses associated with the new SUV launch would generate operating losses of million next year. Without the new SUV, Ford expects to earn pre-tax income of $80 million from operations next year. Ford pays a 35% tax rate on its pre-tax income. The amount that Ford Motor Company owes in taxes next year without the launch of the new SUV is closest to ________. Group of answer choices $15.8 million $40.3 million 12.3 million $28.0 million
Answer:
$28 million
Explanation:
The amount that Ford Motor Company owes in taxes next year without the launch of the new SUV is = $80 million * 35% = $28 million. Because the SUV have not been launched, the operating loss associated with heavy advertising will not be considered.
Your project to obtain charitable donations is now 30 days into a planned 40-day project. The project is divided into three activities. The first activity is designed to solicit individual donations. It is scheduled to run the first 25 days of the project and to bring in $25,000. Even though we are 30 days into the project, we still see that we have only 90 percent of this activity complete. The second activity relates to company donations and is scheduled to run for 30 days starting on day 5 and extending through day 35. We estimate that, even though we should have 83 percent (25/30) of this activity complete, it is actually only 50 percent complete. This part of the project was scheduled to bring in $150,000 in donations. The final activity is for matching funds. This activity is scheduled to run the last 10 days of the project and has not started. It is scheduled to bring in an additional $50,000. So far, $175,000 has actually been brought in on the project.
Calculate the Schedule Variance, Schedule Performance Index, and Cost (actually value in this case) Performance Index. How is the project going? (Hint: Note that this problem is different since revenue rather than cost is the relevant measure. Use care in how the measures are interpreted.)
Answer:
1. schedule variance = -$52,500
2. SPI = 0.65
3. CPI = 0.56
Explanation:
to get the solution, we calculate for BRWS and BRWP
first we calculate the budgeted revenue of the work scheduled for each activity using this formula:
budgeted revenue * planned completion
A = 25,000 x 100percent
= $25000
B = 150,000 x (25/30) percent
= $125000
C = 50000 x 0percent
= 0$
total = $25000+$125000+$0
= $150000
Next we calculate budgeted revenue of work performed (brwp)
calculated using this formula:
budgeted revenue x actual completion
A = 25000 x 90percent
= 22500 dollars
B = 150000 x 50percent
= $75000
C = 50000 x 0%
= $0
total = 22500 + 75000 + 0
= $97500
1. schedule variance = BRWP - BRWS
= $97500 - $150000
= -$52500
we have a negative schedule, telling us that the project is behind schedule
2. schedule performance index = revenue of work performed divided by revenue of work schedule
= 97500/150000
= 0.65
3. cost price index = revenue of work performed divided by actual revenue
= 97500/175000
= 0.56
4. how the project is going:
the schedule performance index (SPI) is 0.65 which is less than 1. this is to say that the project is doing better than planned revenue when we talk of revenue
Identify the importance of accounting by selecting the statement that is correct below. Multiple choice question. Accounting information helps users make business and financial decisions. Accounting is a system that identifies, records and communicates an organization's business activities. Accounting information is primarily used only at the end of a year when tax returns and financial statements are prepared.
Answer:
Accounting information helps users make business and financial decisions.
Explanation:
Users of accounting information are divided into :
Internal users External usersInternal users include : owners, managers, employees
External users include : shareholders, tax authority, regulatory bodies
Based on the information contained in the financial information a shareholder can decide if to invest in a company or not to.
Also, mangers can decide to invest in new ventures based on the information on profitability contained in the financial statements.
The importance of accounting from the statements is A. Accounting information helps users make business and financial decisions.
Why is accounting important ?Accounting plays a crucial role in providing relevant and reliable information to users for making informed business and financial decisions. It involves the identification, recording, and communication of an organization's business activities, which helps users understand the financial health and performance of the entity.
Accounting information is used not only at the end of the year for tax returns and financial statements but also on an ongoing basis to support decision-making, budgeting, forecasting, strategic planning, and evaluating the financial position and performance of the organization.
In conclusion, option A is correct.
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Consider two economies that are identical, with the exception that one has a high marginal propensity to consume (MPC) and one has a low MPC. If the money supply is increased by the same amount in each economy, the high MPC economy will experience:
Select one:
a. a smaller increase in output and a
smaller decrease in the interest rate.
b. A larger increase in output and a
smaller decrease in the interest rate.
c. a larger increase in output and a
larger decrease in the interest rate.
d. A smaller increase in output and a larger decrease in the interest rate
= A larger increase in output and a
smaller decrease in the interest rate.
If the money supply is increased by the same amount in each economy, the high MPC economy will experience b. A larger increase in output and a smaller decrease in the interest rate.
What does a high MPC imply?A high MPC implies increased consumption while a low MPC shows increased savings.
Two factors that increase MPC include:
Readily available credit Lower interest rates.Thus, if the money supply is increased by the same amount in each economy, the high MPC economy will experience b. A larger increase in output and a smaller decrease in the interest rate.
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The following standards for variable manufacturing overhead have been established for a company that makes only one product:
Standard hours per unit of output: 7.8 hours
Standard variable overhead rate: $12.55 per hour
Actual hours: 2,900 hours
Actual total variable manufacturing overhead cost: $36,975
Actual output: 200 units
What is the variable overhead efficiency variance for the month?
a. $17,397 U
b. $16,817 U
c. $312 F
d. $17,085 U
Answer:
b. $16,817 U
Explanation:
Calculation for What is the variable overhead efficiency variance for the month
Using this formula
Variable overhead Efficiency Variance= Standard Rate(Actual Hours - Budgeted Hours)
Let plug in the formula
Variable overhead Efficiency Variance= $12.55 per hour[2,900 hours-(7.8 hours*200 units)]
Variable overhead Efficiency Variance= $12.55 per hour*(2,900 hours-1,560 hours)
Variable overhead Efficiency Variance= $12.55 per hour*1,340 hours
Variable overhead Efficiency Variance=$16,817U
Therefore the variable overhead efficiency variance for the month will be $16,817U
A competitive firm produces a product using labor and plastic. The firm is initially in equilibrium. If the cost of plastic suddenly increases, which of the following will occur?
A. The demand curve for the product will shift to the left.
B. The firm's demand curve for plastic will shift to the left.
C. The firm will increase the number of units offered for sale.
D. The firm will definitely go out of business, since competitive firms earn zero economic profits in equilibrium.
E. The firm's marginal costs will increase at each level of output.
Answer:
B
Explanation:
Option (e), which states that the firm's marginal costs will rise at each output level, is the right choice.
Does the marginal cost of a production increase?The marginal cost of production often increases as output volume increases. The manufacturer can decide how to divide resources among the production units in order to maximize output by using marginal cost.
What occurs when a company's marginal cost increases?They make the unit and supply it if the sale price exceeds the marginal cost. It would not be economically feasible to make it if the marginal cost was higher than the price. Therefore, manufacturing will continue until the sale price equals the marginal cost.
Why eventually does marginal cost increase with output?As output grows, the marginal cost eventually rises as a result of the declining marginal product of labor.
When output declines, what happens to the marginal cost?At this point, marginal cost decreases until it reaches a minimum due to economies of scale and the Law of Diminishing Returns. The marginal cost then grows as output rises.
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A firm has provided you with the following information:
Output 30
Variable Cost $1,900
Fixed Cost $120
Marginal Cost $50
Price $50
a. What is the firm's short-run profit if they produce using the MC=MR rule?
b. What is the firm's short-run profit if they produce nothing?
c. What will be the firm's production decision in the short-run?
1. Shutdown
2. Exit
3. Operate
Answer:
(a) Output produced = 30 , Price = $50
Total revenue = Output produced * Price = 30 units * $50 = $1,500
Total Cost= Variable cost + Fixed cost = $1900 + 120 = $2020
At profit maximization or loss minimization point, MR = MC.
Corresponding to an output level of 30, MR=MC =$50
Note: Price is constant at $50. So, the marginal revenue will be $50 at each level of output
Profit = Total revenue - Total Cost.
Profit = $1500 - $2020
Profit = -$520.
The firm's short-run profit is -$520 if they produce using MR=MC.
(b) If a firm produces nothing, then a firm has to bear a fixed cost of $120. It means there is a loss of $120 or a profit of -$120. So, short-run profit is -$120 if they produce nothing.
(c) In the short run, if the firm produces then bear a loss of $520. if a firm produces nothing then bear a loss of $120. So, it is better to shut down the production in the short run in order to minimize the loss of the firm.
Smith Company had the following on the dates indicated:
12/31/16 12/31/16
Total Assests $60,000 $330,000
Total Liabilities 35,000 25,000
Smith had no stock transactions in 2016; thus, the change in stockholders' equity for 2016 was due to net income and dividends. If dividends were $70,000, how much was Smith's net income for 2016? Use the accounting equation and the statement of retained earnings.
a. $220,000
b. $290,000
c. $150,000
d. $360,000
Answer: b. $290,000
Explanation:
Assets = Liabilities + Equity
Change in Assets = Change in liabilities + Change in Equity
560,000 - 330,000 = 35,000 - 25,000 + Change in equity
230,000 = 10,000 + Change in equity
Change in Equity = 230,000 - 10,000
= $220,000
Retained earnings = Change in equity + dividends
= 220,000 + 70,000
= $290,000
What is the purpose of preserving historical data?
A.
legal compliance
B.
recruitment
C.
leave sanctions
D.
payroll
Answer:
What is the purpose of preserving historical data?
A.legal compliance
Which of the following is NOT a factor in selecting a pricing method?
Auditory preferences
Costs
Competition
Perceived value
Answer:
perceived value
Explanation:
goodluck
In the case of an expansionary_____policy, the interest rate rises, while in the case of an expansionary _____ policy, the interest rate falls.
Select one:
a. fiscal; monetary
b. monetary, monetary
c. monetary, fiscal
d. fiscal; fiscal
= fiscal; monetary
With an expansionary fiscal policy, the interest rate rises, while with an expansionary monetary policy, the interest rate falls.
What is an Expansionary fiscal & monetary policy?This is when an increases in money supply is stimulated by raising spending or cut taxes while the latter is when the cost of borrowing i reduced to stimulate an economy.
Therefore, the Option A is correct.
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Jamestown Furniture Mart, Inc., sold $ 80,000 of furniture in May to customers who used their American Express credit cards. Such sales are subject to a 3 per cent discount by American Express (a nonbank credit card).
Required:
a. Prepare journal entries to record the sales and the subsequent receipt of cash from the credit card company.
b. Do the same as requirement (a), but assume the credit cards used were VISA cards (a bank credit card).
Answer:
a. Debit Bank for $77,600; Debit Sales discount for $2.400; and Credit Sales for $80,000.
a. Debit Bank for $80,000; and Credit Sales for $80,000.
Explanation:
a. Prepare journal entries to record the sales and the subsequent receipt of cash from the credit card company.
The journal entry will look as follows:
Accounts Title Debit ($) Credit ($)
Bank (97% * 80,000) 77,600
Sales discount (3% * 80,000) 2.400
Sales 80,000
(To record sales paid for by the customer using American Express credit cards.)
b. Do the same as requirement (a), but assume the credit cards used were VISA cards (a bank credit card).
Under this scenario, the sales are NOT subject to discount and the customer will 100% of the price.
The journal entry will therefore look as follows:
Accounts Title Debit ($) Credit ($)
Bank 80,000
Sales 80,000
(To record sales paid for by the customer using VISA cards.)
Universal Foods issued 12% bonds, dated January 1, with a face amount of $175 million on January 1, 2018. The bonds mature on December 31, 2032 (15 years). The market rate of interest for similar issues was 14%. Interest is paid semiannually on June 30 and December 31. Universal uses the straight-line method.
Required:
a. Determine the price of the bonds at January 1, 2018.
b. Prepare the journal entry to record their issuance by Universal Foods on January 1, 2018, interest on June 30, 2018 and interest on December 31, 2025.
Answer:
Price of bond issued = $20,305,000 + $115,403,700 = $135,708,700
Explanation:
January 1 2018 ,
Investment in Bond issued by Universal Food (Dr.) $155,000,000
Discount on investment in Bonds issued by Universal Foods (Cr.) $19,291,300
Cash (Cr.) $135,708,700
June 30, 2018,
Cash (Dr.) $9,300,000
Discount in Investment in Bonds by Universal Foods (Dr.) $643,043
Interest Revenue (Cr.) $9,943,043
Dec 31, 2025,
Cash (Dr.) $9,300,000
Discount in Investment in Bonds by Universal Foods (Dr.) $643,043
Interest Revenue (Cr.) $9,943,043
In 2018, Borland Semi-conductors entered into the transactions described below. In 2015, Borland had issued 195 million shares of its $1 par common stock at $39 per share.
Required:
1. On January 2, 2018, Borland re-acquired 12 million shares at $37.50 per share.
2. On March 3, 2018, Borland re-acquired 12 million shares at $41 per share.
3. On August 13, 2018, Borland sold 1 million shares at $47 per share.
4. On December 15, 2018, Borland sold 2 million shares at $41 per share.
Solution :
Serial No. Date given Journal Debit Credit
1). 02 Jan, 2018 Common stock $ 12
Paid-in-capital
excess of the par $ 456
Paid-in-capital
share repurchased $ 18
Cash $ 450
2). 03 March, 2018 Common-stock $ 12
Paid-in-capital
excess of the par $ 456
Paid-in-capital
share repurchased $18
Retained earnings $ 6
Cash $ 492
3). 15 Dec, 2018 Cash $ 82
Common-stock $ 2
Paid-in-capital
excess of the par $ 80
Sprague Company has been operating for several years, and on December 31, 207, presented the following balance sheet.
SPRAGUE COMPANY BALANCE SHEET DECEMBER 31, 2014
Cash $40,000
Accounts payable $80,000
Receivables 75000
Mortgage payable 140,200
Inventory 95000
Common stock ($1 par) 150,000
Plant assets (net) 220,000
Retained earnings 60,000 430000
The net income for 2017 was $25,000. Assume that total assets are the same in 2016 and 2017.
Compute each of the following ratios. for each of the four, indicate the manner in which it is computed and its significance as tool in the analysis of the financial soundness of the company
a) Current ratio
b) Acid-test ratio
c) Debt to assets ratio
d) Return on asset
Answer:
A. Current Ratio= 2.63
B. Acid-Test Ratio = 1.44
C. Debt to Assets Ratio 51.16%
D. Return on assets 5.81%
Explanation:
a. Calculation forn Current Ratio
First step is to Calculate the Total Current Assets
Cash 40,000
Receivables 75,000
Inventory 95,000
Total Current Assets 210,000
Now let calculate Current Ratio
Current Ratio= Current Assets / Current Liabilities
Current Ratio=210,000/80,000
Current Ratio= 2.63
b Calculation for Acid-Test Ratio
Acid-Test Ratio=(Current Assets - Inventory) / Current Liabilities
Acid-Test Ratio =(210,000-95,000)/80,000
Acid-Test Ratio =115,000/80,000
Acid-Test Ratio = 1.44
c. Calculation for Debt to Assets Ratio
First step is to calculate total Debt
Accounts payable 80,000
Mortgage payable 140,000
Total Debt 220,000
Now let calculate the Debt to Assets Ratio
Debt to Assets Ratio= Total Debt/ Total Assets
Debt to Assets Ratio=220,000/430,000
Debt to Assets Ratio= 51.16%
d. Calculation for Return on assets
Return on assets= Net Income/ Average Assets
Return on assets=25,000/430,000
Return on assets 5.81%
Supervisor: "Our goal is to make add-on sales during 85% of sales. If you make 35
sales, how many add-on sales do you need to make to meet the goal?"
Our goal is to make ad on sales during 85% of sales if you make 35% sales how many add-on on sales do you need to make to meet the goal?
Answer:
Calculate inventory turnover ratio in each of the following alternative cases
case 1: cash sales 25% of credit slaes credit sales Rs 300000 cross profit 20% on revenue form operations ie net sales closing inventory Rs 160000, opening inventory Rs 40000
case 2: cash sales 20% of Total sales, credit sales Rs 450000, Gross profit 25% on soct opening inventroy Rs 375000, closing inventorys 112500
What kind of pricing is based upon the perception of value and can command a higher price point?
Premium pricing
Economy pricing
Psychological pricing
Pricing for penetration
Answer: economy
Explanation:
M.A. was counting on her savings that she invested in Social Security. She doubts that this system will support her because the stock market crashed. She believes that the failure of the stock market, and its lack of recovery is because of poor presidential leadership.
a. True
b. False
Incomplete/unclear question. However, I answered based on what is found in the text.
Answer:
a. True
Explanation:
Based on the text, as part of her plans for old age, M.A was counting on her savings in social security.
And it is also possible for poor presidential leadership to negatively affect stock prices since the executive arm of government (the president) can draft out fiscal policies that could influence the amount of spending in an economy; thereby leading to a lack of recovery in stock prices.
At the beginning of the year, Vendors, Inc., had owners' equity of $49,850. During the year, net income was $6,150 and the company paid dividends of $4,250. The company also repurchased $8,350 in equity. What was the cash flow to stockholders for the year
Answer: $12,600
Explanation:
Based on the information that have been given in the question, the cash flow to stockholders for the year would be calculated as:
= Dividends Paid - (Ending Common Stock - Beginning Common Stock)
= $4250 - {[$49850 - $8350] - $49850}
= $4250 - [$41500 - $49850]
= $4250 - (-$8350)
= $4250 + $8350
= $12,600
The American Management Association created a statement of ethics to guide members in the marketing profession
True
False
