Answer:
An authority is a power to give orders and ask your subordinates to perform certain duties. Authority can be given to a person by government’s executives, owner of an organization, or by the representatives of GOD.
An authority is a legitimate power to influence people to compel them to perform the task given to them. For example, a mob has the power to punish a criminal, but they don’t have legitimate authority to punish the criminal.
The authority lies in the hands of the law. Similarly, in an organization, the authority lies in the hands of a manager to get organizational tasks accomplished by his subordinates.
However, the authority of the manager is limited to a particular department of the organization. He has no authority on his employees outside the organization.
Authority is the consequence of the position of an individual in an organization. A person can only be at the superior position of the organization if he has authority; a person with no authority can never be on the top position of an organization.
Therefore, the degree of authority is highest at the top level, and its degree keeps on decreasing the levels of the organization. That means only a person at the top level can give orders to the people at a low level and can compel them to perform tasks given to them, and a person at lower level can’t give orders to the people at the top or his peers.
Authority can be of two types such as official authority (where authority is given to a person by the organization he works for), and other is a personal authority (where authority is given to a person because of his ability to influence people in the organization.
What is the Responsibility?
Being responsible
Responsibility is a moral duty or an obligation of an employee, whether he is a manager or subordinate to fulfill the task given to them. The responsibility starts as soon as the job is assigned to the employee and finish with the completion of the task.
The person is responsible for the consequence of his performance in the task. The responsibility comes with authority.
A manager is responsible for the accomplishment of the task. The responsibility moves upwards in the organization from a lower level of employees to the upper level of management.
The responsibility is originated from the superior-subordinate relationship in an organization. Because of this relationship, the manager can do a task from his subordinates with responsibility.
Difference between authority and responsibility
Difference between authority and responsibility
AUTHORITY RESPONSIBILITY
An authority is a power or right that a person gets because of his designation, role, or job. A responsibility is an obligation that an employee has to fulfill the work bestowed on him
An authority is the outcome of a formal position in an organization. A responsibility is the outcome of a superior-subordinate relationship.
An authority is a legal right given to a person. A responsibility is consequence of authority.
It is a delegation of authority. It is an assumption of responsibility.
The flow of authority is from the upper level to lower level. The flow of authority is from lower level to upper level.
Authority requires the ability to give orders. Responsibility requires the ability to follow orders.
The authority lasts for a long period of time. The responsibility ends as soon as the work bestowed on the employee is complete.
The objective of the authority is to make decisions and implement them effectively. The objective of responsibility is to perform duties effectively assigned by the superiors.
__________________ includes policies, procedures and mindset of top management. A tangible representation can be found in the employee handbook or annual statement. Monitoring process Control activity Control environment Risk assessment
Answer:
Control environment
Explanation:
Internal controls can be defined as the policies, set of rules, and procedures implemented or put in place by an organization to protect its assets, boost efficiency, enhance financial accountability, enforce adherence to company policies and prevent fraudulent behaviors among the employees.
The main purpose of internal controls is to guarantee that loss is eliminated by ensuring that there is an accurate and reliable accounting system.
An internal control involves the timely use of both internal and external sources of auditing or financial reporting and as such enhance the maintenance of accurate and proper financial records which would also improve their operational efficiency.
Hence, internal controls if properly executed helps to increase operational efficiency, protect and safeguard assets, provides accurate financial information, prevents fraudulent or unlawful behaviors, timeliness of financial records and reporting. Internal control includes the control environment.
Control environment includes policies, procedures and mindset of top management. One good example of the representation of a control environment can be found in the employee handbook or annual statement of the business firm or organization.
Suppose First Main Street Bank, Second Republic Bank, and Third Fidelity Bank all have zero excess reserves. The required reserve ratio is 25%. Manuel, a client of First Main Street Bank, deposits $1,800,000 into his checking account at First Main Street Bank.
Required:
Write down the table to show the effect of a new deposit on excess and required reserves
Answer:
Change in Excess Reserves $1,350,000
Change in Required Reserves $450,000
Explanation:
Preparation of the table to show the effect of a new deposit on excess and required reserves
Based on the information given since the REQUIRED RESERVE RATIO is 25%, which means that First Main Street Bank will hold 25% of its initial deposit leading to INCREASE in the REQUIRED RESERVE by the amount of $450,000 (25%*$1,800,000) while the remaining 75% (100%-25%) will be the EXCESS RESERVES of the amount of $1,350,000 (75%*$1,800,000).
Hence:
Amount Deposited: $1,800,000
Change in Excess Reserves=$1,350,000
Change in Required Reserves= $450,000
Therefore the effect of a new deposit on excess and required reserves will be:
Change in Excess Reserves $1,350,000
Change in Required Reserves $450,000
Answer each of the following independent questions.
1. Alex Meir recently won a lottery and has the option of receiving one of the following three prizes: (1) $64,000 cash immediately, (2) $20,000 cash immediately and a six-period annuity of $8,000 beginning one year from today, or (3) a six-period annuity of $13,000 beginning one year from today. Assuming an interest rate of 6%, which option should Alex choose?
2. The Weimer Corporation wants to accumulate a sum of money to repay certain debts due on December 31, 2025. Weimer will make annual deposits of $100,000 into a special bank account at the end of each of 10 years beginning December 31, 2016. Assuming that the bank account pays 7% interest compounded annually, what will be the fund balance after the last payment is made on December 31, 2025?
Answer:
option 1
$1,381,644.80
Explanation:
Alex would choose the option that has the highest present value
Present value is the sum of discounted cash flows
Present value can be calculated using a financial calculator
pv of option 2
Cash flow in year 0 = 20,000
Cash flow in year 1 - 6 = $8,000
i = 6%
PV = 59,338.60
OPTION 3
Cash flow in year 1 - 6 = 13,000
i - 6%
pv = 63,925.22
option 1 has the highest present value and should be chosen
To find the PV using a financial calculator:
1. Input the cash flow values by pressing the CF button. After inputting the value, press enter and the arrow facing a downward direction.
2. after inputting all the cash flows, press the NPV button, input the value for I, press enter and the arrow facing a downward direction.
3. Press compute
2.
future value of an annuity = Annual payment x annuity factor
Annuity factor = {[(1+r)^n] - 1} / r
(1.07^10 - 1 ) / 0.07 = 13.816448
13.816448 x 100,000 = $1,381,644.80
In which basic market would stoves be traded?
the labor market
the money market
the goods and services market
the capital market
Answer:
the labor marketExplanation:
#carry on learningSteve borrowed $750 for a new dresser. He made 9 monthly payments to repay the loan. He paid $45 interest. What is his simple interest rate?
Answer:
222
Explanation:
property has Gross Scheduled Income of $100,000. The vacancy rate and credit rate allowance is 3% whereas Operating expenses are $34,000. a) What will be the Cap. Rate if you purchased the property for $600,000
Answer:
The answer is "[tex]10.5\%[/tex]"
Explanation:
Following are the Cap rate:
[tex]= \frac{(Income \times (1 - vacancy\ rate) - operating \ expense)}{\text{purchase price of property}}[/tex]
[tex]= \frac{(\$ 100,000 \times 0.97 - \$ 34,000)}{\$ 600,000}\\\\= \frac{\$ 63,000}{ \$ 600,000}\\\\= 10.5\%[/tex]
Dogs R US uses the perpetual inventory system to account for its merchandise. A customer returned merchandise. Assuming that the purchase was originally bought on credit for $400 with a cost to Dogs R US of $100, demonstrate required journal entry of Dogs R US to record the return by selecting all of the correct actions below. (Check all that apply.) Multiple select question. Credit Accounts Receivable $400. Credit Sales Returns and Allowances $400. Debit Accounts Payable $400. Credit Merchandise Inventory $100. Credit Cash $400. Debit Sales Returns and Allowances $400. Credit Cost of Goods Sold $100. Debit Cost of Goods Sold $100. Debit Merchandise Inventory $100.
Answer:
Credit cost of goods sold $100.
Debit merchandise inventory $100.
Credit accounts receivable $400.
Debit sales returns and allowances $400.
Explanation:
These are the demonstrate required journal entries of Dogs R US to record the return.
Credit cost of goods sold $100.
Debit merchandise inventory $100.
Credit accounts receivable $400.
Debit sales returns and allowances $400.
You own a portfolio that has a total value of $185,000 and it is invested in Stock D with a beta of .91 and Stock E with a beta of 1.33. The beta of your portfolio is equal to the market beta. What is the dollar amount of your investment in Stock D
Answer:
$145,357.14
Explanation:
The computation of the dollar amount of your investment in Stock D is shown below:
Let us assume the investment in D be $x
So,
The investment in E is ($185,000 - x)
As we know that
Portfolio beta= Respective beta × Respective investment weight
1 = (x ÷ 185,000 × 0.91 ) +(185,000 - x) ÷ 185,000 × 1.33
Here
Beta of market = 1
And, the Beta of risk-free assets=0
(1 × 185000) = 0.91x + 246050 - 1.33x
185,000 = 0.91x + 246050 - 1.33x
x = (246050 - 185,000) ÷ (1.33 - 0.91)
= $145,357.14
On January 1, 2021, the Merit Group issued to its bank a $38 million, five-year installment note to be paid in five equal payments at the end of each year. Installment payments of $9.417 million annually include interest at the rate of 7.6%.
Required: What would be the amount(s) related to the note that Merit would report in its statement of cash flows for the year ended December 31, 2021?
Answer:
The correct solution is provided below.
Explanation:
Given:
The cash inflow,
= $38
Interest rate,
= 7.6%
or,
= 0.076
Now,
The annually interest will be:
= [tex]38\times 0.076\times 1[/tex]
= [tex]2.89[/tex] ($)
Or,
The installment payment without interest will be:
= [tex]9.417-2.89[/tex]
= [tex]6.53[/tex] ($)
What do we call interest on interest?
Answer:
Interest-on-interest, also referred to as 'compound interest', is the interest that is earned when interest payments are reinvested.
The cost of debt is equal to one minus the marginal tax rate multiplied by the average coupon rate on all outstanding debt. True False
Answer:
False
Explanation:
False, The given information is false because coupon rate is not required while calculating the cost of the debt. Only interest rate which is also called Yield to maturity and the marginal tax rate is needed to calculate the cost of debt.
Below is the formula:
Cost of debt after the tax = Interest rate (1 - Marginal tax rate)
During August, the receipts and distributions of Material No. B4G9 are as follows: Received Aug. 31,100 units at $15 161,700 units at $17 29 900 units at $18 Issued Aug. 11 700 units for Job 116 181,900 units for Job 117 30 800 units for Job 118 a. Determine the cost of each of the three issues under a perpetual system, using the first-in, first-out method.
Answer:
The total cost will be "$56,200". A further explanation is provided below.
Explanation:
According to the question,
The cost of issue of Aug 11 will be:
= [tex]700\times 15[/tex]
= [tex]10,500[/tex] ($)
The cost of issue of Aug 18 will be:
= [tex]400\times 15+1500\times 17[/tex]
= [tex]6000 +25500[/tex]
= [tex]31,500[/tex] ($)
The cost of issue of Aug 30 will be:
= [tex]200\times 17+600\times 18[/tex]
= [tex]3400+10800[/tex]
= [tex]14,200[/tex] ($)
Now,
The total cost will be:
= [tex]10,500+31,500+14,200[/tex]
= [tex]56,200[/tex] ($)
Consider the following time series data. Week 1 2 3 4 5 6 Value 19 13 15 12 17 15 Using the average of all the historical data as a forecast for the next period, compute the following. (Round your answers to two decimal places.)
measures of forecast accuracy:Mean absolute error (MAE)Mean squared error (MSE)Mean absolute percentage error (MAPE)Round your answers to two decimal places.MAE =MSE =MAPE =Using the average of all the historical data as a forecast for the next period, compute the same three values. Round your answers to two decimal places.MAE =MSE =MAPE =Which method appears to provide the more accurate forecasts for the historical data?
Answer:
1. We have:
MAE = 3.60
MSE = 15.60
MAPE = 25.45
2. We have:
MAE = 2.62
MSE = 11.11
MAPE = 19.59
3. The average of all the historical data provides the more accurate forecasts for the historical data.
Explanation:
Note: This question is not correct as the average of all the historical data is asked to be used as a forecast for the next period in requirements 1 and 2 instead of the naïve method (most recent value) for the first requirement. The correct question is therefore presented before answering the question as follows:
Consider the following time series data.
Week 1 2 3 4 5 6
Value 19 13 15 12 17 15
1. Using the naïve method (most recent value) as the forecast for the next period, compute the following (Round your answers to two decimal places.) measures of forecast accuracy:
a. Mean absolute error (MAE)
b. Mean squared error (MSE)
c. Mean absolute percentage error (MAPE).
2. Using the average of all the historical data as a forecast for the next period, compute the same three values. Round your answers to two decimal places.
3. Which method appears to provide the more accurate forecasts for the historical data?
The explanation of the answer is now provided as follows:
The following formulae are to be used:
MAE = Total of Error / Number of observations
MSE = Total of Error^2 / Number of observations
MAPE = Total of Error % / Number of observations
1. Using the naïve method (most recent value) as the forecast for the next period, compute the following (Round your answers to two decimal places.) measures of forecast accuracy:
Note: See part 1 of the attached excel file for the determination of Naïve and Calculations of Error, Error^2 and Error % using the naïve method as the forecast for the next period.
From the attached excel file, we have:
MAE = 18.00 / 5 = 3.60
MSE = 78.00 / 5 = 15.60
MAPE = 127.23 / 5 = 25.45
2. Using the average of all the historical data as a forecast for the next period, compute the same three values. Round your answers to two decimal places.
Note: See part 2 of the attached excel file for the determination of Naïve and Calculations of Error, Error^2 and Error % using the average of all the historical data as a forecast for the next period.
From the attached excel file, we have:
MAE = 13.12 / 5 = 2.62
MSE = 55.55 / 5 = 11.11
MAPE = 97.94 / 5 = 19.59
3. Which method appears to provide the more accurate forecasts for the historical data?
The average of all the historical data provides the more accurate forecasts for the historical data comparing the values of its MAE, MSE and MAPE to the values of MAE, MSE and MAPE of Naive method. This is because the error values of the average of all the historical data are much lowest and more closest to the actual data.
You are told that standing up during the Cowboys football game will give you a better view of the field. However, if everyone stands up at the same time, then your view is obscured. This example best describes:
a. inclusion of an irrelevant variable.
b. a violation of ceteris paribus .
c. a fallacy of composition.
d. a post hoc ergo propter hoc fallacy.
e. an omission of a relevant variable.
Answer:
I think the answer is e. Because you the variable that if everyone stands up you cant see is omitted.
Calculate the net present value in US$ of an investment in the health spa only, assuming that the 1,500-square-foot unit is purchased and then resold at the end of 12 years. (Hint: Before making your present value calculations, multiply all amounts expressed in CI$ by $1.25 to convert into US$.)
Answer: Hello I was able to find the Major part of the question online as attached below
answer :
Net present value ( NPV ) = $153353.91
Explanation:
NPV = ( Present value of Cash Inflow) - ( Present value of Cash outflow) -- ( 1 )
present value of cash inflow
i) cosmetic products = ( 5500 * 1.25 * 12) * ( 6.8137) (cost of capital )) = 562130.25
ii) land sale = ( 1500 * 300 * 1.25 ) * ( 0.8186 ) ( cost of capital )) = 179212.5
∑ present value of cash inflow = 741342.75
Present value of cash outflow ( other expenses )
∑ present value of cash outflow = 587,988.84
NPV = 741,342.75 - 587,988.84 = $153,353.91
Bobby bought 550 shares of stock at $61.25 per share. His broker charges 4% commission for round lots and 5% for odd lots. Calculate the total cost of the stock purchase.
Answer:
The total cost of the stock purchase was $ 35,371.87.
Explanation:
Since Bobby bought 550 shares of stock at $ 61.25 per share, and his broker charges 4% commission for round lots and 5% for odd lots, to calculate the total cost of the stock purchase the following calculation must be performed:
Odd lot = less than 100 shares, or sum not divisible by 100
550 = odd lot
(550 x 61.25) x 0.05 = X
33,687.5 x 0.05 = X
1,684.375 = X
33,687.5 + 1,684,375 = 35,371,875
Therefore, the total cost of the stock purchase was $ 35,371.87.
Research the different types of body language the people use in different cultures.
Answer:
Explanation:
Body language is an extremely important form of communication in every single culture, yet every culture has differences. For example...
Korean's tend to greet individuals with a bow. This is a form of showing respect as well as saying hello. Other cultures such as the Swiss tend to greet others with three cheek kisses.
Body language can be for many occasions such as Americans using the middle finger to show their dislike of someone. There's also Italian's closing their fingers together in form of a pinecone to show their distraught over something.
Body language has always been a way of expressing oneself and their emotions.
Mullee Corporation produces a single product and has the following cost structure: Number of units produced each year 7,000 Variable costs per unit: Direct materials $ 51 Direct labor $ 12 Variable manufacturing overhead $ 2 Variable selling and administrative expense $ 5 Fixed costs per year: Fixed manufacturing overhead $441,000 Fixed selling and administrative expense $112,000 The absorption costing unit product cost is:________
a. $65 per unit
b. $128 per unit
c. $63 per unit
d. $149 per unit
Answer:
unitary absorption production cost= $128
Explanation:
The absorption costing method includes all costs related to production, both fixed and variable. The unit product cost is calculated using direct material, direct labor, and total unitary manufacturing overhead.
First, we need to calculate the unitary fixed manufacturing overhead:
Unitary fixed overhead= 441,000 / 7,000= $63
Now, the unitary absorption production cost:
unitary absorption production cost= 51 + 12 + 2 + 63
unitary absorption production cost= $128
Blaine, Inc., produces three products, Argon, Xon, and Zeon, from a joint production process. Data on the process are as follows:
Product Agon Xon Zeon Total
Allocated joint cost $45 $450
Sales value at split-off $90 $900
Additional processing costs $60 $150
Sales value if processed $150 $300 $1200
Contribution from processing further $15 $0 $360
Units produced 750 1250 3,000 5,000
Required:
Determine the value for each misse
Answer:
Agon
Allocated joint cost $45
Sales value split off $90
additional processing cost $60
Sales value if processed further $150
Contribution from processing further $15
Xon
Allocated joint cost $75
Sales value split off $150
additional processing cost $150
Sales value if processed further $300
Contribution from processing further $0
Zeon
Allocated joint cost $330
Sales value split off $660
additional processing cost $180
Sales value if processed further $1200
Contribution from processing further $360
Explanation:
Sales split off point Xon $300 - $150 = $150
Sales split off point Zeon $900 - $90 - $150 = $660
Joint cost of Xon = 450 / 900 * 150 = 75
Joint cost of Zeon = 450 / 900 * 660 = 330
Managers in international businesses will need to evaluate the attractiveness of a country as a market or location for a facility or investment.
a. True
b. False
Answer:
a. True
Explanation:
A manager can be defined as an individual who is saddled with the responsibility of providing guidance, support, supervision, administrative control, as well as acting as a role model or example to the employees working in an organization by being morally upright. Thus, he or she supervises and ensures his subordinates (employees) are working effectively and efficiently with the organization's goals and objectives.
Generally, managers working in international businesses are expected to evaluate the attractiveness of a country as a market or location for a facility or investment before going ahead to the endorse and approve it for any business having long-term plan, goals and objectives in mind.
Some examples of the factors a manager should look out for in determining the attractiveness of a country includes freedom of expression, government policies, power supply, taxation, ease of doing business, climate, etc.
The five new production assistants at Hollywood Studios will attend an orientation meeting on their first day. During orientation, they will learn what is expected of them and how they fit into the ___ culture.
Answer: Corporate
Explanation:
Corporate culture simply refers to the standards, shared values, attitudes, and beliefs by which the members of an organization are characterized.
The corporate culture is important in guiding how the employees of an organization think and act as it symbolizes the personality of the company shows its core beliefs. New employees are expected to know the corporate culture of an organization.
David works for a cookie company downtown. He earns $7 per hour. In a typical week, he works 22 hours. His employer provides overtime pay equal to 3 times his normal wage if he works past 40 hours. The company also provides a 8% commission on all cookies sold. How much can David make this week if he works 30 hours and sells $1100 worth of cookies
Answer:
$242
Explanation:
Calculation to determine How much can David make this week
Earnings for David =( 22*$7) + (1100*8%)
Earnings for David=$154*$88
Earnings for David= $242
Therefore How much can David make this week is $242
mention one product you are selling on your sole proprietorship
Answer: Examples of sole proprietors include small businesses such as, a local grocery store, a local clothes store, an artist, freelance writer, IT consultant, freelance graphic designer, etc.
Explanation:
In the context of employee engagement, it is observed that the highly engaged employees feel a deep connection to their company. Disengaged employees:
a. feel disconnected, portraying deviant behavior at the workplace.
b. put in efforts to be as good as engaged employees.
c. continue working without affecting the turnover.
d. put time but no attention into their work.
e. engage in productive activities to prove their worth.
Concentration is the ability to focus and pay
Answer:
nice
Explanation:
a 17-year annuity pays $1,100 per month, and payments are made at the end of each month. The interest rate is 16 percent compounded monthly for the first 6 years and 13 percent compounded monthly thereafter. What is the present value of the annuity
Answer:
The present value of the annuity is $73,091.50
Explanation:
Use the following formula to calculate the present value of the annuity
Present value of annuity = ( Annuity Payment x Annuity factor for first 6 years ) + [ ( Annuity Payment x Annuity factor for after 6 years ) x Present value factor for 6 years ]
Where
Annuity Payment = $1,000
Annuity factor for first 6 years = 1 - ( 1 + 16%/12 )^-(6x12) / 16%/12 = 46.10028344
Annuity factor for after 6 years = 1 - ( 1 + 13%/12 )^-((17-6)x12) / 13%/12 = 70.0471029820
Present value factor for 6 years = ( 1 + 16%/12)^-(6x12) = 0.385329554163
Placing values in the formula
Present value of annuity = ( $1,000 x 46.10028344 ) + [ ( $1,000 x 70.0471029820 ) x 0.385329554163 ]
Present value of annuity = $46,100.28 + $26,991.22
Present value of annuity = $73,091.50
A firm that purchases electricity from the local utility for $300,000 per year is considering installing a steam generator at a cost of $260,000. The cost of operating this generator would be $210,000 per year, and the generator will last for five years. If the firm buys the generator, it does not need to purchase any electricity from the local utility. The cost of capital is 11%. For the local utility option, consider five years of electricity purchases. For the generator option, assume immediate installation, with purchase and operating costs in the current year and operating costs continuing for the next four years. Assume payments under both options at the start of each year (i.e., immediate, one year from now,..., four years from now). What is the net present value of the more attractive choice?
Answer:
The net present value of the more attractive choice is:
= $1,108,800 (paying for local utility)
Explanation:
a) Data and Calculations:
Project period = 5 years
Cost of capital = 11%
Local Utility Steam Generator
Operating cost per year $300,000 $210,000
Cost of steam generator $260,000
PV (annuity factor
at 11% for 5 years) 3.696
PV (annuity factor
at 11% for 4 years) 3.102
Present value $1,108,800 ($300,000 * 3.696)
Present value of steam generator/
operating cost for the 1st year $470,000
Present value of operating cost for 4 years 651,420 ($210,000 * 3.102)
Net present value $1,108,800 $1,121,420
Paying for the local utility is more attractive with a net present value savings of $12,620 ($1,121,420 - $1,108,800)
Boswell Company reported the following information for the current year: Sales(50,000 units) £1,000,000, direct materials and direct labor £500,000, other variable costs £50,000, and fixed costs £360,000. What is Boswell’contribution margin ratio?
lol btw u play ml? or growtopia?
Calvin works in the accounting department for a textbook publishing firm preparing budgets and reporting production costs. What job does Calvin hold
Answer:
The answer is "managerial accountant".
Explanation:
The economic circumstances collect and earned value collection of data, evaluating and presenting financial information for the organization or the management team of the company. These statistics will then be used to make sensible financial decisions that really can benefit the overall growth of the organization.
Managers were employing company and organizational accounts to monitor internal financial processes, revenue, spending, and budget, submit reports, determine past trends and forecast future needs, and aid economic decisions.
The time required to collect information about the current state of the economy is known as A. the effect lag. B. the recognition lag. C. the fiscal lag. D. the action lag.
Answer:
B. the recognition lag.
Explanation:
Recognition lag means the delay that lies between the economic shock arise and when it should be seen by the economist, government etc. Here the delays could be arise as the data that documented the economy state should not be available on the instant basis and after this it takes the time to analyze it correctly
Therefore as per the given situation, the option b is correct
