a. Journal entries in the records of Purple Ltd for the year ended 30 June 2020 in relation to its investment in the associate, White Ltd:
To record the initial investment on 1 July 2019:
Investment in White Ltd $250,000
Cash $250,000
To record Purple Ltd's share of White Ltd's profit after tax:
Investment in White Ltd $28,600 (22% of $130,000)
Share of Associate's Profit $28,600
To record the dividend received from White Ltd:
Cash $5,280 (22% of $24,000)
Investment in White Ltd $5,280
b. The carrying amount of the investment in White Ltd on 30 June 2020 can be calculated by adding the initial investment, share of profits, and subtracting the dividends received.
Carrying Amount on 30 June 2020 = Initial Investment + Share of Profits - Dividends
Carrying Amount = $250,000 + $28,600 - $5,280
Carrying Amount = $273,320
Therefore, the carrying amount of the investment in White Ltd on 30 June 2020 is $273,320. This represents the net amount at which Purple Ltd holds its investment in White Ltd on its balance sheet as of that date.
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Kristina just won the lottery, and she must choose among three award options. She can elect to receive a lump sum today of $63 million, to receive 10 end-of-year payments of $9.4 million, or to receive 30 end-of-year payments of $5.6 million.
a. If she thinks she can earn 7% percent annually, which should she choose?
b. If she expects to earn 8% annually, which is the best choice?
c. If she expects to eam 9% annually, which option would you recommend?
d. Explain how interest rates influence her choice. Grade it Now Save & Continue Fantini ahutuina.
Therefore, the choice of option depends on the prevailing interest rate and the individual's preference for immediate access to funds versus regular payments over time.
a. To determine the best choice, we need to calculate the present value of each option. For the lump sum option, the present value is $63 million. For the 10 end-of-year payments of $9.4 million, we can use the formula for the present value of an ordinary annuity to find that the present value is approximately $66.39 million.
b. If Kristina expects to earn 8% annually, we can recalculate the present values. The lump sum option remains at $63 million. The present value of the 10 end-of-year payments is approximately $65.52 million, and the present value of the 30 end-of-year payments is approximately $65.52 million as well. In this case, the lump sum option has the highest present value.
c. If Kristina expects to earn 9% annually, the present values change again. The lump sum option remains at $63 million. The present value of the 10 end-of-year payments is approximately $64.70 million, and the present value of the 30 end-of-year payments is approximately $64.70 million as well.
D.The interest rate (annual return) plays a crucial role in determining the present value of future cash flows. A higher interest rate decreases the present value of future cash flows, while a lower interest rate increases it. In this case, as the interest rate increases, the present value of the future cash flows decreases. As a result, the lump sum option becomes relatively more attractive compared to the annuity options, as it offers a larger amount upfront.
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. Incremental innovation often involves open-ended experimentation which can be very time consuming. True or False
2. Companies are rarely reluctant to invest time and resources in activities with an unknown future. True pr Fa;se
3. Firms using a focused approach to corporate entrepreneurship do NOT separate corporate venturing activities from ongoing operations of the firm. True or False
4. Exit champions are often eager to gather hard data about a venture because it might kill the project. True or Flase
5. The term skunkworks is used to refer to a specialized type of outside contractor that corporations use to develop entrepreneurial ideas. True or False
6. Successful corporate entrepreneurship requires firms to reach deep within their current operations and markets in the pursuit of new opportunities. True or False
1. True. Incremental innovation often involves open-ended experimentation which can be very time-consuming.
Incremental innovation refers to making small changes and improvements to the existing products, services, or processes of the company. It often involves open-ended experimentation, which can be very time-consuming and costly.
2. False. Companies are often reluctant to invest time and resources in activities with an unknown future. Activities with an unknown future include new product development, research and development, and corporate entrepreneurship. Companies often weigh the potential risks and benefits of such activities before investing time and resources.
3. False. Firms using a focused approach to corporate entrepreneurship separate corporate venturing activities from the ongoing operations of the firm. This allows the corporate venture to be more agile, flexible, and innovative. It also helps to shield the corporate venture from the bureaucracy and politics of the parent organization.
4. False. Exit champions are often eager to gather hard data about a venture because it might SAVE the project. Exit champions are individuals or groups who advocate shutting down a corporate venture. They often gather hard data and evidence to support their case.
5. False. The term skunkworks is used to refer to a specialized type of in-house unit that corporations use to develop entrepreneurial ideas. Skunkworks are autonomous, self-contained units that are given the freedom and resources to develop new products, services, or processes without being burdened by the bureaucracy and politics of the parent organization.
6. True. Successful corporate entrepreneurship requires firms to reach deep within their current operations and markets in the pursuit of new opportunities. This requires a deep understanding of the market, customer needs, and the firm's own capabilities. It also requires the willingness to take risks, experiment, and learn from failures.
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The management of company has presented their fixed assets in the current assets. As an auditor you have to test the presentation and disclosure of the fixed assets. Determine the most applicable audit objective for the test. Select one: O A. Classification O B. Cut-off O C. Existence OD. Right and obligation Clear my choice Determine the main source of evidence to be used in the substantive test Select one: A. Journal listing B. Payment Vouchers Fixed Asset Register Fixed Asset Ledger O C. O D. Which test is predominantly used in auditing fixed assets? Select one: O A. Substantive test O B. Risk assessment O C. Test of control O D. Scanning Auditors establish the validity of Fixed Assets Register by the following actions except for ......... Select one: O A. Test check the additions and disposal B. Perform analytical procedures O C. Check the casting in the PPE register O D. Agree the total cost of PPE in the general ledger with that of the PPE register Auditors select a sample of PPE from physical inspection and trace them to the Fixed Assets Register. Determine the audit objective for the procedure, which is performed by the auditors. Select one: O A. Right an obligation O B. Existence O C. Valuation D. Completeness
The most applicable audit objective for testing the presentation and disclosure of the fixed assets is Existence. The purpose of this procedure is to establish that the fixed assets exist, are owned by the entity, and are included in the Fixed Asset Register.
The for this is that the existence objective is used to test whether the assets or liabilities exist at the balance sheet date. The auditor needs to verify that the fixed assets presented in the current assets exist and are owned by the entity. This objective is used to establish that the company's financial statements include all assets and liabilities that should be recorded and that these assets are the company's property.The main source of evidence to be used in the substantive test is the Fixed Asset Register. The Fixed Asset Register is the source document that provides information about each fixed asset owned by the company. It shows the acquisition cost, accumulated depreciation, and the net book value of each asset.
The auditor will need to test the accuracy and completeness of the Fixed Asset Register to ensure that it includes all the fixed assets owned by the company.The Substantive test is predominantly used in auditing fixed assets. This test involves gathering evidence from different sources to support the amounts and disclosures in the financial statements. It is used to detect material misstatements in the financial statements, which could arise from fraud or error. Auditors will use substantive tests to obtain evidence about the completeness, accuracy, and validity of the fixed assets register.Auditors establish the validity of Fixed Assets Register by performing analytical procedures, test check the additions and disposal, and agree the total cost of PPE in the general ledger with that of the PPE register. However, they do not check the casting in the PPE register because that is not an effective way to establish the validity of the fixed assets register.The audit objective for the procedure that auditors use to select a sample of PPE from physical inspection and trace them to the Fixed Assets Register is Existence.
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Exercise 2. Suppose the only three risky assets in the market have the following expected returns and standard deviations: Asset A Asset B Asset C Expected returns 12.5% 15.0% 25.0% Standard deviation
The degree of variance or dispersion in a group of values is measured statistically by the standard deviation. It reveals the degree to which the data points deviate from the mean (average) value.
Given the following expected returns and standard deviations: Asset A Asset B Asset C Expected returns 12.5% 15.0% 25.0% Standard deviation For this case, we have the following mathematical formula that represents the calculation of the expected return:
E(Rp) = w1R1 + w2R2 + w3R3
where E(Rp) = expected return on a portfolio w1 = proportion of the portfolio invested in asset 1 R1 = expected return of asset 1 w2 = proportion of the portfolio invested in asset 2 R2 = expected return of asset 2 w3 = proportion of the portfolio invested in asset 3 R3 = expected return of asset 3.
Using the provided formula, let us find the portfolio expected returns (E(Rp)) below: For Asset A: E(Rp) = w1R1 + w2R2 + w3R3E(Rp) = (0.25 * 0.125) + (0.5 * 0.15) + (0.25 * 0.25)E(Rp) = 0.03125 + 0.075 + 0.0625E(Rp) = 0.16875For Asset B: E(Rp) = w1R1 + w2R2 + w3R3E(Rp) = (0.25 * 0.125) + (0.5 * 0.15) + (0.25 * 0.25)E(Rp) = 0.03125 + 0.075 + 0.0625E(Rp) = 0.16875For Asset C: E(Rp) = w1R1 + w2R2 + w3R3E(Rp) = (0.25 * 0.125) + (0.5 * 0.15) + (0.25 * 0.25)E(Rp) = 0.03125 + 0.075 + 0.0625E(Rp) = 0.16875.
Hence, the expected return for all the risky assets is 16.875%.
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Expansionary monetary policy by a nation's Central Bank is designed to:
a) Increase the amount of reserves in the nation's private commercial banking system.
b) Lower the over night loan rate at which private commercial banks can lend reserves to and borrow reserves from each other.
c) Lower the rate at which firms and households can borrow money.
d) Increase interest-sensitive spending by firms and households.
e) Answers a, b, c and d. d)
Expansionary monetary policy by a nation's Central Bank is designed to increase the amount of reserves in the nation's private commercial banking system, lower the overnight loan rate, lower borrowing rates, and increase interest-sensitive spending.
Expansionary monetary policy refers to the actions taken by a central bank to stimulate economic growth and increase aggregate demand. The main tools used include open market operations, reserve requirements, and interest rate adjustments. By conducting open market operations, the central bank purchases government securities, injecting money into the banking system and increasing reserves. This increases the amount of money available for private commercial banks to lend. Lowering the overnight loan rate makes borrowing cheaper for banks, promoting interbank lending and increasing liquidity. Consequently, lower borrowing rates for firms and households encourage investment and consumption, leading to increased interest-sensitive spending. Therefore, expansionary monetary policy encompasses all of these measures to boost economic activity.
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Body Scans and Bottlenecks: Optimizing Hospital CT Process Flows Case Discussion Questions: 1. Draw the process flow map for the original CT scan process. 2. Hospital management believed the new scanners represented a high-return; investment. What factors would you take into account when calculating the difference in revenues represented by the new scanners versus the original units? 502 3. If the original process flows remained in place after the new CT scanners were installed, what level of scanning throughput could the hospital achieve? What hourly margins would result from using the new scanners with all other processes unchanged? How do these margins compare with using the old scanners? 4. What specific improvements might be made to improve the efficiency of the CT process flows? How would these improvements affect the margins? 5. What level of scanning throughput could the hospital achieve after the recommended improvements? What hourly margins would result from using the new scanners with all improvements in place? How would these margins compare with using the old scanners? 6. How many hours a day would the new scanners have to operate to handle 92,000 patients per year? Assume that scanners are operated for 300 days in a year. 7. If the technology of CT scanners continues to improve, how will process economics impact their purchase and utilization in hospitals and the healthcare system overall? Case Analysis 1. Draw the process flow map for the original CT scan process. (Also draw these process flow maps for each step of process improvement.) 2. Hospital management believed the new scanners represented a high-return investment. What factors would you take into account when calculating the difference in revenues represented by the new scanners versus the original units? The unit load is the amount of time spent by the resource per flow unit (CT scan in this case). Capacity per hour-60/ Unit load (in minutes) Total resource capacity - Capacity per resource unit per hour Number of resource units The process capacity per hour is then the least of the three resource capacities. When operating at capacity. Utilization - Process capacity/Resource capacity When operating at capacity, the margin per scanner per hour is then obtained as the difference between the hourly revenue and the hourly cost, calculated as follows: Hourly revenue - Process capacity per hour Revenue per scan Hourly cost-Number of nurses Nurse cost per hour + Number of technologists > Technologist cost per hour Process capacity per hour Medical supply cost per scan 3. If the original process flows remained in place after the new CT scanners were installed, what level of scanning throughput could the hospital achieve? What hourly margins would result from using the new scanners with all other processes unchanged? How do these margins compare with using the old scanners? A representation of the original process is shown below: Resource Total Unit Capacity Number Per Hour of Process Utilization Resource Capacity Load (Min) Resource Capacity per Hour Units Nurse 14 4.29 1 4.29 43.8 Technologist 32 1.875 1 1.875 1.875 100 CT 32 1.875 1 1.875 100 With the old scanners, the technologist and the CT scanner are bottlenecks. Given that each CT scanner can perform 1.875 scans per hour, the six scanners together perform 11.25 scans per hour. To perform 55,000 scans per year, assuming 300 working days in the year, each scanner would have to operate 55,000/ (300 11.25)- 16.3 hours per day, or about 2 shifts of 8 hours daily. Revenue per hour per scanner-$500 1.875-$937.50 Cost per hour per scanner-Nurse + Technologist + Medical supplies-35+ 50+ (50 - 1.875)-$178.75 Margin per scanner per hour-$937.50-$178.75-758.78 4. What specific improvements might be made to improve the efficiency of the CT process flows? How would these improvements affect the margins? 5. What level of scanning throughput could the hospital achieve after the recommended improvements? What hourly margins would result from using the new scanners with all improvements in place? How would these margins compare with using the old scanners? Do the above table for: . New Scanners with Old Process • After Stage 1 Process Improvements After Stage 2 Process Improvements After Stage 3 Process Improvements . 6. How many hours a day would the new scanners have to operate to handle 92,000 patients per year? Assume that scanners are operated for 300 days in a year. 7. If the technology of CT scanners continues to improve, how will process economics impact their purchase and utilization in hospitals and the healthcare system overall?
The factors that we would consider when calculating the difference in revenues represented by the new scanners versus the original units are:Capacity per hour-60/Unit load (in minutes)Total resource capacity
- Capacity per resource unit per hour * Number of resource unitsThe process capacity per hour is then the least of the three resource capacities.
When operating at capacity.Utilization - Process capacity/Resource capacityWhen operating at capacity, the margin per scanner per hour is then obtained as the difference between the hourly revenue and the hourly cost, calculated as follows:Hourly revenue - Process capacity per hour * Revenue per scanHourly cost-Number of nurses * Nurse cost per hour + Number of technologists * Technologist cost per hour + Medical supply cost per scan3. If the original process flows remained in place after the new CT scanners were installed
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To address the eurozone crisis, the European Central Bank (ECB) adopted a negative interest rate policy in 2014. The ECB lowered its deposit rate to -0.1% that year to hold off deflation and move the economic bloc out of a prolonged recession. Today, the ECB deposit rate is - 0.5%, the lowest on record. In theory, negative rates would boost the economy by encouraging consumers and banks to take more risks through borrowing and lending money. Using the IS-LM framework, explain why traditional monetary policy fails in the presence of zero lower bounds, and how the negative interest rate policy may help the ECB to bring the economy out of recession.
In the presence of a zero lower bound, traditional monetary policy fails. The zero lower bound is the lowest possible nominal interest rate. Negative nominal interest rate are impossible.
The central bank cannot lower its policy rate beyond zero without imposing a fee on banks for holding reserve accounts. As a result, the demand for money becomes extremely inelastic. Fiscal policy, on the other hand, remains effective because government spending, transfers, and tax policies can all influence demand at any interest rate. In this regard, fiscal stimulus is more effective than monetary stimulus.
Negative interest rates may help the ECB to bring the economy out of recession by encouraging banks and individuals to lend and borrow money, according to the IS-LM model. Negative interest rates reduce borrowing costs, which increases consumption and investment. In the short run, there is a substantial rise in demand as a result of this.
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3a. (10 marks) High and rising inequality harms our societies in many respects, not least in terms of economic growth. It can hamper social cohesion, results in lost opportunities for many, and can even result in worse health outcomes. Briefly discuss this statement with reference to the main drivers of income inequality and the policies necessary to promote inclusive growth. (15 marks)
The statement "High and rising inequality harms our societies in many respects, not least in terms of economic growth. It can hamper social cohesion, results in lost opportunities for many, and can even result in worse health outcomes" is accurate as income inequality is linked to a wide range of negative social and economic consequences.
The following are the primary drivers of income inequality:
1. Education: Education is one of the most important factors in determining someone's earnings. People who complete higher education are more likely to be employed in higher-paying jobs.
2. Globalisation:
Globalisation has resulted in increased trade and cross-border investments, but it has also resulted in greater inequality within countries as industries move to countries with lower wages.
3. Technological innovation: Technological advancement has resulted in a significant reduction in low-skilled jobs, which has contributed to income inequality.
Policies necessary to promote inclusive growth are:
1. Education: Education is one of the most critical policies to reduce income inequality. Greater access to high-quality education can help to level the playing field by increasing the number of skilled workers.
2. Progressive taxation: Taxes can be used to redistribute income from the wealthy to the poor. A more progressive tax system can be used to accomplish this.
3. Minimum wage laws: A minimum wage can ensure that all employees receive a basic level of income, resulting in reduced income inequality.
4. Social safety net programs: Social programs, such as welfare and food assistance, can help those in poverty.
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The Consumer Price Index is reported monthly by the U.S. Bureau of Labor Statistics. It reports the change in prices for a market basket of goods from one period to another. The index for 2000 was 195.5. By 2015, it increased to 297.0.
What was the geometric mean annual increase for the period? (Round your answer to 2 decimal places.)
question: geometric mean is:____%
To calculate the geometric mean annual increase, we need to use the formula:
Geometric mean annual increase = [(Index at the end of the period / Index at the start of the period)^(1 / Number of years)] - 1
Given that the index for 2000 was 195.5 and the index for 2015 was 297.0, and the period is 15 years, we can substitute these values into the formula:
Geometric mean annual increase = [(297.0 / 195.5)^(1 / 15)] - 1
Calculating this expression will give us the geometric mean annual increase.
Geometric mean annual increase = [(297.0 / 195.5)^(1 / 15)] - 1
≈ 0.0259 - 1
≈ -0.9741
Rounded to two decimal places, the geometric mean annual increase for the period is approximately -97.41%.
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Accounting is an information and measurement system that identifies, records, and communicates relevant, reliable, and comparable information about an organization's business activities. Classify the following activities as part of the identifying (I), recording (R), or communicating (C) aspects of accounting. 1. Analyzing and interpreting reports. (1') 2. Presenting financial information. (1'). 3. Maintaining a log of service costs. (1') 4. Measuring the costs of a product. (1') 5.Preparing financial statements. (1') 6.Establishing revenues generated from a product. (1') 7. Determining employee tasks behind a service. (1)
1. Analyzing and interpreting reports: Identifying (I) 2. Presenting financial information: Communicating (C) 3. Maintaining a log of service costs: Recording (R) 4. Measuring the costs of a product: Recording (R)
5. Preparing financial statements: Recording (R) and Communicating (C) 6. Establishing revenues generated from a product: Identifying (I) 7. Determining employee tasks behind a service: Identifying. 1. Analyzing and interpreting reports involves examining financial or managerial reports to gain insights and make informed decisions. It falls under the identifying aspect of accounting as it helps identify trends, patterns, and key information from the reports. 2. Presenting financial information involves preparing and presenting financial statements, reports, or presentations to internal or external stakeholders. It falls under the communicating aspect of accounting as it involves conveying financial information to users in a clear and understandable manner. 3. Maintaining a log of service costs involves recording and documenting the costs associated with providing services. It falls under the recording aspect of accounting as it involves systematically capturing and storing cost data. 4. Measuring the costs of a product involves determining the expenses incurred in manufacturing or acquiring a product. It falls under the recording aspect of accounting as it involves quantifying and recording the costs. 5. Preparing financial statements involves gathering, organizing, and presenting financial data in the form of balance sheets, income statements, and cash flow statements. It falls under both the recording and communicating aspects of accounting as it involves recording financial transactions and communicating the results to users.
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You will produce a 2,000-word Business Report answering the following questions: "Explore if a physical or electronic market would be the most successful arena to launch a business idea. Ensure you provide clear recommendations to a prospective entrepreneur." You must write in the third person. • You must write in sentences and paragraphs. • You will be provided feedback on your written English skills, including; vocabulary and grammar. You must complete this task alone.
When it comes to launching a business idea, one of the most crucial decisions an entrepreneur has to make is whether to use a physical or an electronic market. In this 2,000-word Business Report, we will explore which of the two is the most successful arena to launch a business idea, providing clear recommendations to a prospective entrepreneur.
To begin with, it's worth noting that each market type has its own set of advantages and drawbacks. As a result, the decision between the two largely depends on the type of business being established, as well as the entrepreneur's available resources and target audience.
In terms of the physical market, there are several advantages to consider. A physical store offers a face-to-face connection between a company and its customers, which is beneficial in developing trust and loyalty. Additionally, a physical store has the advantage of visibility, which means customers can easily locate the store and visit it. Furthermore, a physical store may offer a more personalized experience, which is beneficial for customers who prefer physical interaction when purchasing a product.
However, a physical market also has its drawbacks. The cost of renting a shop can be a significant barrier to entry for new businesses, particularly for those operating in major cities. As a result, it may be difficult for entrepreneurs with limited capital to establish themselves in a physical store.
On the other hand, an electronic market offers many advantages. Firstly, it allows businesses to operate without having to rent a physical location. As a result, the start-up costs are typically lower. Additionally, an electronic market provides businesses with access to a global audience, which means businesses can expand their reach beyond their immediate geographic region. Finally, an electronic market is open 24 hours a day, seven days a week, which means customers can shop whenever it is most convenient for them.
However, an electronic market has its own set of drawbacks. Customers may be hesitant to purchase products from a new or unfamiliar online store. As a result, entrepreneurs must invest heavily in marketing and advertising to establish trust and attract customers. Additionally, competition in the electronic market is fierce, and businesses must continually improve their offerings to remain competitive.
In conclusion, whether to use a physical or an electronic market is a decision that largely depends on the type of business being established, as well as the entrepreneur's available resources and target audience. In general, an electronic market is a more cost-effective alternative for new entrepreneurs. Still, entrepreneurs who want to establish a more personalized connection with their customers may prefer to use a physical market instead. As a result, it's crucial that entrepreneurs consider the advantages and drawbacks of each market type before making a decision.
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You own a stock that had returns of 13.82 percent, -16.94 percent, 23.16 percent, and 21.24 percent over the past four years. What was the arithmetic average return for this stock? 9.66% ,10.32%, 11.18% ,9.00%
Arithmetic Average Return is the simple average of a series of returns generated over a specific time period. For instance, if you owned a stock that had returns of 10 percent, 12 percent, 15 percent, and 9 percent over the past four years, the arithmetic average return for that stock would be 11.5 percent.
The arithmetic average return for the given stock can be calculated as follows:Given data:Returns of the stock over the past four years:[tex]13.82%[/tex], [tex]-16.94%[/tex], [tex]23.16%[/tex], and [tex]21.24%[/tex]. Now, we will add all the given returns and divide by the number of terms to obtain the arithmetic average return: Average return=[tex](13.82 - 16.94 + 23.16 + 21.24)/4=40.28/4=10.07%[/tex]
Hence, the arithmetic average return for the stock is 10.07 percent, which is approximately 10.32% (rounded to two decimal places).Therefore, the correct option is [tex]10.32%.[/tex]
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Ascoche Mongoflex with w fed the role cashewhew jehow & According ADA ADAL acomodation des Ta False 7. The process of mal eingediende performed in ingles will she complecies amples postes je isko Job Design Job Eva Rob Ani a Jose & Employees of stond to have beendetje Tree Ara jo previs a recruitment practice the provides ja plicants with both positive and less able to about the job and the aplicanes have more maitselect out of motos a Time 10. At the following are good imemal recruiting acties Communicate the position to the employees who you believe are interested in ping Decling animal recruitment policy Tell candidats why we scleted 4. Nalam IL Rear has shown toe eers are a highe effective way to recruit applica. What is the aim would solely on employee reste une apoca More than she best to seachawideroep of potential aplicants Employment is verplicants more throughly Be the process results in applicants meeting job offers in the long run they have higher caduje Relying on employees limites diverso incy. 3 Ascoche Mongoflex with w fed the role cashewhew jehow & According ADA ADAL acomodation des Ta False 7. The process of mal eingediende performed in ingles will she complecies amples postes je isko Job Design Job Eva Rob Ani a Jose & Employees of stond to have beendetje Tree Ara jo previs a recruitment practice the provides ja plicants with both positive and less able to about the job and the aplicanes have more maitselect out of motos a Time 10. At the following are good imemal recruiting acties Communicate the position to the employees who you believe are interested in ping Decling animal recruitment policy Tell candidats why we scleted 4. Nalam IL Rear has shown toe eers are a highe effective way to recruit applica. What is the aim would solely on employee reste une apoca More than she best to seachawideroep of potential aplicants Employment is verplicants more throughly Be the process results in applicants meeting job offers in the long run they have higher caduje Relying on employees limites diverso incy. 3
The process of hiring is a crucial aspect of managing a business, and it involves recruiting, selecting, and hiring candidates to fill job openings. There are various internal recruitment actions that organizations can take, such as communicating the job position to interested employees, implementing animal recruitment policies, and explaining to candidates why they were chosen. Companies can also rely on employees to refer qualified candidates, as this has been shown to be an effective recruitment practice.
However, relying solely on employee referrals can limit diversity and potentially overlook strong candidates. Therefore, it is best to widen the recruitment pool by exploring other methods, such as advertising job openings, attending career fairs, and partnering with educational institutions.
The ultimate aim of any recruitment practice is to find the best candidates for the job, who are capable of performing the duties required of the position. Effective recruitment practices that thoroughly screen candidates can result in higher-quality applicants and ultimately lead to better job offers in the long run. Additionally, providing a positive and transparent view of the job and the company can make candidates feel more comfortable and confident about their decision to apply.
Finally, it is important to ensure that the recruitment process is accessible and accommodating to all individuals, including those with disabilities. This involves making accommodations and adhering to the Americans with Disabilities Act (ADA) and the Age Discrimination in Employment Act (ADEA) to ensure that all qualified candidates have equal opportunity to apply and be considered for the job.
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Awal company manufactures custom door knobs for international clients. Average Revenue is $35 per unit, variable costs are $20 per unit, and total costs are $250,000. If sales are 10,000 units, what is the firm's breakeven sales quantity? A. 1,750 units B. 2,500 units C. 3,000 units D. 3,333 units
The firm's breakeven sales quantity is 16,667 units. To find the firm's breakeven sales quantity, we need to determine the point at which the total revenue equals the total costs.
Breakeven Quantity = Total Fixed Costs / Contribution Margin per unit
The contribution margin per unit is the difference between the average revenue per unit and the variable cost per unit.
Contribution Margin per unit = Average Revenue per unit - Variable Cost per unit
Contribution Margin per unit = $35 - $20 = $15
Total Fixed Costs are given as $250,000.
Breakeven Quantity = $250,000 / $15 = 16,666.67 units
Since the question asks for the breakeven sales quantity, we round up to the nearest whole number.
Therefore, the firm's breakeven sales quantity is 16,667 units, which is approximately 16,667 units. Thus, the correct answer is not provided in the options given.
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Over time the level of output in the United States has risen steadily.
True
False
The statement "Over time the level of output in the United States has risen steadily" is true.
Output refers to the amount of goods and services that an economy produces within a specified period, usually a year. The output level is a measure of the economic growth of a country.The output of the United States has been increasing steadily over time. Despite occasional setbacks, such as recessions, the trend has been upwards, as indicated by the gross domestic product (GDP) data over the years.GDP is the value of all goods and services produced within the country's borders in a year. The US GDP has increased steadily over the years, from $3.9 trillion in 1990 to $21.4 trillion in 2019. This increase has been made possible by several factors, such as technological advancements, innovation, an educated workforce, and favorable government policies, among others.In conclusion, it is true that over time the level of output in the United States has risen steadily, as evidenced by the growth in GDP over the years.
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Assume that the market for wood is perfectly competitive.
During the COVID-19 pandemic, many people work from home and therefore need to build or improve their home offices. Using a supply and demand diagram explain how this event may affect the market equilibrium price and quantity of wood.
During the COVID-19 pandemic, the increased demand for home offices may have an impact on the market equilibrium price and quantity of wood. Using a supply and demand diagram, we can explain this as follows:
Begin with a standard supply and demand diagram, with the quantity of wood on the x-axis and the price of wood on the y-axis.
Due to the increased demand for home offices, the demand curve for wood will shift to the right, indicating a higher quantity demanded at each price level. This shift represents the increased willingness of consumers to purchase wood for home office construction or improvement.
As a result of the increased demand, the equilibrium price of wood will rise, reflecting the upward pressure on prices due to the higher demand. This is because the increased number of people working from home creates a higher need for wood products, such as desks, shelves, or renovations.
The equilibrium quantity of wood will also increase due to the increased demand. This implies that more wood will be bought and sold in the market to meet the higher consumer demand.
Therefore, the increased demand for home offices during the COVID-19 pandemic would lead to a higher equilibrium price and quantity of wood in the market. The specific magnitude of the price increase and quantity increase would depend on the elasticities of demand and supply for wood.
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Resources Him Check Answer Question 21 of 22 > Identify whether each macroeconomic variable is an example of a withdrawal or an injection. Then, determine the value of investment at equilibrium. All values are in billions of dollars Withdrawal Injection Answer Bank tex-53000 government spending $4000 investment 2 import-$2800 export-$2200 kaving-5800 SWA
To determine whether each macroeconomic variable is an example of a withdrawal or an injection, we need to understand the definitions of withdrawals and injections in the context of macroeconomics.
Withdrawals are leakages from the circular flow of income, which reduce the total spending in the economy. They include savings [tex](\(S\))[/tex] , taxes [tex](\(T\))[/tex] , and imports [tex](\(M\))[/tex] because they represent money flowing out of the economy.
Injections, on the other hand, are additions to the circular flow of income, which increase the total spending in the economy. They include investment [tex](\(I\))[/tex] , government spending [tex](\(G\))[/tex] , and exports [tex](\(X\))[/tex] because they represent money flowing into the economy.
Based on this understanding, let's categorize each variable as a withdrawal [tex](\(W\))[/tex] or an injection [tex](\(I\)):[/tex]
[tex]\text{Bank tax:} & \quad \text{Withdrawal (W)} \\[/tex]
[tex]\text{Government spending:} & \quad \text{Injection (I)} \\[/tex]
[tex]\text{Investment:} & \quad \text{Injection (I)} \\[/tex]
[tex]\text{Import:} & \quad \text{Withdrawal (W)} \\[/tex]
[tex]\text{Export:} & \quad \text{Injection (I)} \\[/tex]
[tex]\text{Saving:} & \quad \text{Withdrawal (W)}[/tex]
Now, to determine the value of investment at equilibrium, we need additional information. The question mentions the values of various variables but does not provide information about the equilibrium level of investment. Equilibrium investment depends on various factors such as interest rates, business confidence, and government policies.
Without specific information about the equilibrium level of investment, we cannot determine its value.
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Good Food Company has sued Tasty Food Company for illegally producing and selling one of its patented products. The lawsuit is for $5,000,000 (a substantial/material amount to both companies).
On December 31, 2021 (fiscal year-end), legal opinion is that it is likely that Good Food will win the lawsuit and be awarded the full $5,000,000 in damages by the court.
Good Food and Tasty Food are both public companies.
Instructions:
a) Briefly explain how Good Food would account for the lawsuit on December 31, 2021. (2 Marks)
b) Briefly explain how Tasty Food would account for the lawsuit on December 31, 2021. (3 marks)
PART B - ANALYSIS/SHORT ANSWER (20 Marks)
1. The below financial ratios (for a recent year) are for two competing companies in the same industry.
Company A Company B
Current Ratio 1.20 0.83
Quick Ratio 1.04 0.46
Receivables Turnover 2.50 29.3
Asset Turnover 0.62 0.74
Return on Assets 0.01 (0.03)
Instructions:
a) Briefly comment on the implications of each of the above ratios for Company A and B. (8 Marks)
b) List two (2) other comparisons that you would like to make before reaching conclusions on the above
ratio data for Company A and B. (2 Marks)
2. Identify two (2) conditions that must be present for goodwill to be recorded as an intangible
asset of a business. (4 Marks)
3. Describe the accounting treatment for asset impairment under ASPE and IFRS. (6 Marks)
a) As of December 31, 2021, Good Food would account for the litigation by recording a contingent gain in its financial statements. When a gain is probable (likely to occur) and possible to be quantified, it is reported as a dependent gain. b) Tasty Food would record a contingent liability in its financial statements as of December 31, 2021, to reflect the litigation. When the result of an unknown occurrence is probable (likely to happen) and can be approximated, a contingent obligation is recorded.
The activities and financial success of a firm are detailed in financial statements, which are written reports. To ensure accuracy and to achieve goals related to taxes, finance, or investments, government agencies, accounting firms, etc. regularly audit financial records.
Big companies' financial statements may be complicated and include numerous management discussion and analysis notes in addition to the quantified extensive footnotes that accompany the financial statements.
In the notes, each line item on the income statement, balance sheet, and cash flow statement is frequently further described.
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Firm commitment versus best efferts. Astro Investment Bank offers Lunar Vacations the following options on its initial public sale of equity: (a) a best efforts arrangement whereby Astro will keep 3.1% of the retail sales or (b) a firm commitment arrangement of $10,200,000. Lunar plans on offering shares at $11.17 per share to the public. What is the break-even point in number of shares for Lunar Vacations? What are the proceeds to Lunar Vacations and Astro Investment Bank at the break-even point?
The break-even point in number of shares for Lunar Vacations is determined by dividing the total amount needed to be raised by the offer price per share.
To determine the break-even point in number of shares for Lunar Vacations, we need to divide the total amount needed to be raised by the offer price per share. In this case, the total amount needed to be raised is $10,200,000 and the offer price per share is $11.17. Dividing these values, we find that the break-even point is approximately 914,438 shares.
At the break-even point, the proceeds to Lunar Vacations can be calculated by multiplying the offer price per share by the number of shares sold, which is 914,438 in this case. The proceeds to Lunar Vacations would be approximately $10,220,000.
For Astro Investment Bank, in the best efforts arrangement, they keep 3.1% of the retail sales. Since the break-even point represents the point where no profit or loss is incurred, Astro Investment Bank would not receive any proceeds at the break-even point.
Therefore, the break-even point for Lunar Vacations is approximately 914,438 shares, and at this point, Lunar Vacations would receive proceeds of approximately $10,220,000, while Astro Investment Bank would not receive any proceeds in the best efforts arrangement.
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The monopolist's goal is to maximize its profits. As a result of this behavior, the economic consequence is price is greater than marginal cost. result in a transfer of consumer surplus to the firm. producing output where MR = MC and charging whatever the market demand curve will bear. All answers are correct
The larger the price difference between the marginal cost and the price, the greater the deadweight loss.
A monopolist's goal is to maximize profits. As a result of this behavior, the economic consequence is that price is greater than marginal cost. As the monopolist is the only firm operating in the market, it can charge a higher price than marginal cost to increase its profits. This results in a transfer of consumer surplus to the firm. The monopolist produces output where MR = MC and charges whatever the market demand curve will bear. This enables the monopolist to achieve the highest possible profits. In economic terms, this is known as a deadweight loss. It refers to the reduction in overall economic efficiency that occurs when a monopoly firm charges a price that is greater than marginal cost. The deadweight loss results from the reduction in economic surplus that occurs when consumers are forced to pay more for a good or service than it is actually worth to them. The larger the price difference between the marginal cost and the price, the greater the deadweight loss.
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If the economy were in a recession, which of the following policies would the Federal Reserve most likely use? O Decrease taxes O Raise the interest rate the Fed pays on bank reserves O Raise the discount rate O Decrease the required reserve rate
If the economy were in a recession, the Federal Reserve would most likely use expansionary monetary policy.
This would involve lowering interest rates and implementing measures to increase the money supply. Among the given options, the policy that aligns with this objective is decreasing the required reserve rate. During a recession, the economy experiences a slowdown in economic activity, including decreased consumer spending, investment, and employment. In response, the Federal Reserve typically adopts expansionary monetary policy to stimulate economic growth.
Lowering interest rates is one of the key tools used by the Federal Reserve to encourage borrowing and spending. By reducing interest rates, the cost of borrowing for businesses and consumers decreases, incentivizing increased investment and consumption.
However, among the given options, the Federal Reserve does not directly control taxes, so decreasing taxes is not within its jurisdiction. Additionally, raising the interest rate the Fed pays on bank reserves and the discount rate would have a tightening effect on the economy, which is counterproductive during a recession.
Therefore, the most appropriate policy choice for the Federal Reserve during a recession would be to decrease the required reserve rate. This action would lower the amount of reserves banks are required to hold, allowing them to lend more and increase the money supply in the economy. This, in turn, promotes borrowing, spending, and investment, stimulating economic activity and helping to alleviate the recessionary pressures.
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Assume that the market for wood is perfectly competitive.
Some of the world’s biggest wood mills shut down because of COVID-19 restrictions. Using a supply and demand diagram explain how this event may affect the market equilibrium price and quantity of timber.
When some of the world's biggest wood mills shut down due to COVID-19 restrictions, it would have an impact on the supply side of the market for timber. To explain this using a supply and demand diagram:
Start with a standard supply and demand diagram, with the quantity of timber on the x-axis and the price of timber on the y-axis.
Initially, there will be a downward-sloping demand curve, representing the quantity of timber that consumers are willing and able to purchase at different price levels.
The supply curve represents the quantity of timber that producers are willing and able to supply at various price levels. The shutdown of major wood mills reduces the overall supply of timber in the market. This is depicted by a leftward shift of the supply curve.
The reduced supply of timber results in a higher equilibrium price and a lower equilibrium quantity. The price increases because the supply shortage creates upward pressure on prices. Simultaneously, the quantity of timber available in the market decreases due to the reduced supply.
Overall, the shutdown of major wood mills due to COVID-19 restrictions would lead to a higher equilibrium price and a lower equilibrium quantity of timber in the market. The specific magnitude of the price increase and quantity decrease would depend on the elasticities of demand and supply for timber.
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A company's sales in Year 1 were $250,000 and in Year 2 were
$287,500. Using Year 1 as the base year, the sales trend percent
for Year 2 is:
87%.
100%.
115%.
15%.
Option d: the sales trend percentage for Year 2 as per the information provided through calculation is 15%.
The sales trend percentage for year 2 is 15%.
to calculate sales trend percentage:
The sales trend percentage can be calculated as the percentage increase in sales between two periods. You need the following formula to calculate the sales trend percentage
:($ Value of sales in Year 2 - $ Value of sales in Year 1) ÷ $ Value of sales in Year 1 × 100
The dollar value of sales in Year 1 was $250,000, while in Year 2, it was $287,500.
Using the formula above, we can calculate the sales trend percentage for Year 2 as follows:
($287,500 - $250,000) ÷ $250,000 × 100 = 15%
Therefore, the sales trend percentage for Year 2 is 15% option d is the correct answer.
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six -five traffic tickets are to be served in 700.what is takt time?
To calculate the takt time, we need to determine the available time and divide it by the customer demand.
In this case, the available time is 700 units (minutes), and there are 65 traffic tickets to be served.
Takt Time = Available Time / Customer Demand
Takt Time = 700 / 65
Takt Time ≈ 10.77 minutes per traffic ticket
Therefore, the takt time for serving each traffic ticket would be approximately 10.77 minutes.
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Question 10 1 pts In the market for tomatoes, assume the market demand is perfectly elastic and the market supply is elastic. If a tax is placed on the suppliers in this market, how will the tax burden be distributed? O Consumers will bear all the tax O Producers will bear all the tax O Consumers and producers will bear the tax burden equally O Producers will bear a greater burden of the tax, but not all of the tax. O Consumers will bear a greater burden of the tax, but not all the tax.
In the case of a perfectly elastic demand, the suppliers will bear a very small part of the tax, and consumers will bear the majority of the burden.
If a tax is imposed on the tomato suppliers in a market where the market demand is perfectly elastic and the market supply is elastic, the tax burden will be distributed between the consumers and producers. The answer is option E, that consumers will bear a greater burden of the tax, but not all of the tax. Perfectly elastic demand occurs when a tiny increase or decrease in price results in an infinite decrease or increase in the quantity of goods bought by customers. In other words, the amount demanded of a good is infinitely sensitive to price changes. The demand curve in a perfectly elastic market is horizontal or flat. The tax burden is a term that refers to how the financial burden of a tax is distributed between buyers and sellers in the market. The tax burden can be shared between the two parties, or it can be borne entirely by one group. In a perfectly elastic market, when a tax is imposed on suppliers, they will pass on the burden of the tax to the buyers in the form of higher prices. In the case of a perfectly elastic demand, the suppliers will bear a very small part of the tax, and consumers will bear the majority of the burden.
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The Parent Company purchased common stock of Sub Company in a series of open-market purchases in 2020 and 2022. January 1, 2020 purchased 1,000 shares at $15 per share. January 1, 2022 purchased 8,000 shared at $18 per share. Sub Company had 15,000 shares of $10 par value common stock outstanding for the entire period. Dividends of 67000 were paid on December 31, 2022. The Parent Company uses the cost method to account for the investment. Any investment the Parent Company owns less than 20% is classified as available for sale securities.
The amount of dividend income the Parent Company recognizes in 2022 is 4670 Incorrect
The amount of realized gain reflected in the Parent's retained earnings would be 37360
The amount of dividend income the parent company recognizes in 2022 is $5,000. The parent company purchased the common stock of the subcompany in a series of open-market purchases in 2020 and 2022.
On January 1, 2020, I purchased 1,000 shares at $15 per share.
On January 1, 2022, 8,000 shares were purchased at $18 per share. Sub Company had 15,000 shares of $10 par value common stock outstanding for the entire period. Dividends of $67,000 were paid on December 31, 2022. The parent company uses the cost method to account for the investment. Any investment the parent company owns less than 20% of is classified as available-for-sale securities.
The parent company's total investment in the sub-company would be as follows:
Investment on January 1, 2020, = $15 × 1,000 = $15,000
Investment on January 1, 2022, = $18 × 8,000 = $144,000
Total investment = $15,000 + $144,000
= $159,000
Since the parent company owns less than 20% of the subsidiary, the cost method is used to account for the investment. In the cost method, the investor records its investment in the stock at cost and recognizes dividends when they are received. Dividend income is the portion of a company's profit that is paid out to shareholders. Thus, dividend income can be calculated by multiplying the dividends paid by the proportion of shares owned by the investor.
Here, the parent company owns 1,000 shares plus 8,000 shares, or 9,000 shares, out of the 15,000 shares that the subcompany had outstanding throughout the period. Dividend income recognized in 2022 = Dividends paid × Proportion of shares owned by the investor
Dividend income recognized in 2022 = $67,000 × (9,000 / 15,000)
= $40,200However, the parent company uses the cost method to account for the investment. Therefore, it recognizes only the dividend income it received as revenue. Dividend income received in 2022 = $18 × 1,000 + $18 × 8,000
= $5,000The amount of realized gain reflected in the parent's retained earnings would be $42,000.
The calculation is done as follows: Parent Company's investment in
Sub Company on January 1, 2022, = $18 × 8,000 shares = $144,000
Sub Company's dividend per share = $67,000 ÷ 15,000 shares
= $4.47
Sub Company's dividend on 8,000 shares purchased in 2022 = $4.47 × 8,000 shares
= $35,760
The parent company's cost basis in these 8,000 shares = $18 × 8,000 shares
= $144,000
Realized gain = Sale proceeds - Cost basis = $35,760 - $18,000 = $17,760
The total realized gain on the sale of 8,000 shares = $17,760 × 2 = $35,520
On December 31, 2022, the parent company sold 2,000 shares of the subcompany's common stock for $37,360 ($18.68 per share), resulting in a realized gain of $35,520. This gain would be reflected in the parent company's retained earnings.
Therefore, the amount of realized gain reflected in the parent's retained earnings would be $35,520 (and not $37,360). Thus, the amount of dividend income the parent company recognizes in 2022 is $5,000, and the amount of realized gain reflected in the parent's retained earnings would be $35,520.
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Write two paragraphs about why deficits can either be considered a bad or good policy.?
Answer: down below
Explanation: Deficits can be seen as bad because they can lead to a lot of debt, which burdens future generations and slows down economic growth. They can also cause inflation, which makes money less valuable.
However, deficits can be good during tough times because they can help the economy by creating jobs and boosting spending. They can also be used to invest in important things like infrastructure and education, which can make the country stronger. Deficits can also be used to address inequalities by redistributing income and supporting welfare programs.
It's essential to consider the long-term consequences of deficit spending when making policy decisions.
Deficits can be seen as both a good and bad policy, depending on the situation. A deficit arises when the government spends more money than it receives in taxes. In the short term, this can lead to economic growth, but in the long term, it can have negative consequences.
One reason why deficits can be considered good policy is that they can provide a stimulus to the economy. During an economic downturn, the government can use deficit spending to increase spending on infrastructure, education, and other programs. This can create jobs and boost economic growth, which can help the country recover from a recession.
However, deficits can also be considered bad policy because they can lead to long-term debt problems. When the government borrows money to fund its spending, it must pay interest on that debt. Over time, this can become a significant burden on the budget. Additionally, a high level of debt can make it difficult for the government to respond to economic crises in the future, as it will have less room to maneuver. Therefore, it's essential to consider the long-term consequences of deficit spending when making policy decisions.
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E14.13 (LO 4) The following information is taken from the 2020 general ledger of Okonedo ASA. Rent Rent expense € 40,000 Prepaid rent, January 1 5,600 Prepaid rent, December 31 9,000 Salaries Salaries and wages expense € 65,000 10,000 Salaries and wages payable, January 1 Salaries and wages payable, December 31 8,000 Sales Sales revenue €170,000 Accounts receivable, January 1 19,000 Accounts receivable, December 31 7,000 Instructions In each case, compute the amount that should be reported in the operating activities section of the state- ment of cash flows under the direct method.
The amount that should be reported in the operating activities section of the statement of cash flows under the direct method for Okonedo ASA is €171,000.
The operating activities section of the statement of cash flows under the direct method includes cash inflows and outflows directly related to the company's core operations. To calculate the amount for this section, we need to consider the changes in the relevant accounts. For Rent, the Rent expense of €40,000 is reported as an outflow in the operating activities section. For Salaries, the change in Salaries and wages payable is considered. The Salaries and wages payable of €10,000 (January 1) minus €8,000 (December 31) represents a decrease in payable, which means an increase in cash. Therefore, €2,000 is reported as an inflow in the operating activities section.
For Sales, the change in Accounts receivable is considered. The Accounts receivable of €19,000 (January 1) minus €7,000 (December 31) represents a decrease in receivables, which means an increase in cash. Therefore, €12,000 is reported as an inflow in the operating activities section. Adding up the Rent expense, Salaries adjustment, and Sales adjustment, the total amount reported in the operating activities section of the statement of cash flows under the direct method is €40,000 + €2,000 + €12,000 = €54,000. However, it's important to note that the given information does not provide specific details about other operating cash flows, such as cash paid for operating expenses. Therefore, the total amount reported in the operating activities section may vary depending on additional information not provided.
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Hassan's income increases and, as a result, he buys more fish. Is fish an inferior or a normal good? Why? What happens to Hassan's demand curve for fish? Explain. Over the past 30 years, technological advances have reduced the cost of computer chips. How do you think this has affected the market for computers? And the market for typewriters? Explain.
Fish is likely a normal good for Hassan because as his income increases, he buys more of it. The demand curve for fish would shift to the right, indicating an increase in demand, as Hassan's higher income allows him to purchase more fish.
Fish being a normal good for Hassan implies that it is a product for which demand increases as income rises. This suggests that fish is considered a desirable and higher-quality product that people are willing to consume more of when they have more purchasing power. As Hassan's income increases, he has more disposable income available to spend on various goods, including fish. Consequently, he chooses to buy more fish, indicating that it is a normal good for him.
In terms of the demand curve for fish, the increase in Hassan's income would cause a rightward shift in the curve. This means that at each price level, Hassan is now willing and able to buy more fish compared to his previous income level. The shift reflects an increase in demand for fish, as higher income enables him to afford and consume a greater quantity of fish. The entire demand curve would shift, indicating a change in the relationship between the price of fish and the quantity demanded by Hassan. The extent of the shift depends on the income elasticity of demand for fish, which measures the responsiveness of quantity demanded to changes in income.
Regarding technological advances in computer chips, they have had a significant impact on the market for computers. These advancements have led to increased efficiency, improved performance, and reduced production costs for computer manufacturers. As a result, the market for computers has experienced increased supply, lower prices, and higher demand.
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Choose a FALSE statement regarding the t-distribution.
O The t distribution is based on the assumption that the population of interest is normal nearly normal.
O The t distribution has a greater spread than does the z distribution. As a result, the critical values of t for a given level of significance are larger in magnitude than the corresponding z critical values.
O There is not one t distribution, but rather a "family" of t distributions. All t distributions have a mean of zero and a standard deviation of 1.
O The higher the degree of confidence, the larger the sample required to give a certain precision.
The false statement regarding the t-distribution is: "The t distribution has a greater spread than does the z distribution. As a result, the critical values of t for a given level of significance are larger in magnitude than the corresponding z critical values."
The t distribution actually has a greater spread than the standard normal distribution (z distribution). This means that the critical values of t for a given level of significance are larger in magnitude than the corresponding z critical values. In other words, the tails of the t distribution are fatter than the tails of the standard normal distribution, which accounts for the larger critical values.
The t distribution is a family of distributions, and not all t distributions have a mean of zero and a standard deviation of 1. The shape of the t distribution depends on the degrees of freedom, which is determined by the sample size. As the sample size increases, the t distribution approaches the standard normal distribution.
The statement about the relationship between the degree of confidence and sample size is generally true. As the degree of confidence increases, the precision or level of certainty desired also increases. To achieve a higher degree of confidence, a larger sample size is typically required to provide more reliable and accurate results.
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