In calculating the CPI, a constant basket of items and services is used. The quantities of the items and services in the fixed basket are decided by: a. surveying consumers.
The products protected in the fixed basket are commonly determined through surveying consumers.
What is the fixed basket CPI?It is based on the usual fee of a constant basket of goods and offerings bought through a normal consumer, relative to rate of the identical basket in some base year. By consisting of a broad range of lots of goods and services with the constant basket, the CPI can achieve an correct estimate of the value of living.
How do you calculate CPI for basket of goods?To discover the CPI in any year, divide the value of the market basket in 12 months t through the cost of the equal market basket in the base year. The CPI in 1984 = $75/$75 x one hundred = 100 The CPI is simply an index cost and it is indexed to a hundred in the base year, in this case 1984.
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https://brainly.com/question/1889164#SPJ4the initial step in bounded rationality decision-making is to a. identify the problem. b. select an alternative. c. generate alternatives. d. evaluate the decision.
The initial step in bounded rationality decision-making is to select an alternative.
We try to satisfice rather than optimize when making decisions as a result of bounded rationality. To put it another way, we aim for a decision that will be adequate rather than the best one that is possible.
The decision-making process of bounded rationality states that due to cognitive and temporal constraints, we are unlikely to gather all the information that would be necessary to make a rational choice. Because of this, we tend to choose less-than-ideal options.
Even though bounded rationality leads us to make acceptable decisions, that does not necessarily imply that they are the best ones. The term "homo economicus," which refers to the "ideal rational man/woman," is used by economists in place of "satisficers."
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following scenarios, describe (1) the payoff that you obtain in each possible case, the corresponding rate of return and the associated probability; (2) the expected value; and (3) the standard deviation of the rate of return of your investment i. you invest everything in a
All potential combinations of options for making decisions and natural conditions are listed on a payoff table. The expected value for each choice is known as the Expected Payoff (EP)
What is payoff in probability?The reward for a strategy is equal to the total of the payoffs for each result multiplied by the chance of each outcome, according to the Law of Total Probability.A Nash equilibrium is necessary for matrix reward games with two players if the row chosen is to maximize the payout for the row player given the column chosen by the column player, and the column, in turn, is to maximize the payout for the column player given the row chosen by the row player.All potential combinations of options for making decisions and natural conditions are listed on a payoff table. The expected value for each choice is known as the Expected Payoff (EP) or Expected Monetary Value (EMV).To learn more about Expected Payoff refer,
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a monopoly has a marginal revenue curve that is: group of answer choices downward sloping and lies above the demand curve. downward sloping and lies below the demand curve. horizontal and equal to price. upward sloping and is the same as its supply curve. vertical at the profit-maximizing quantity.
A monopoly has a marginal revenue curve that is downward sloping and lies below the demand curve.
The demand curve is a graphical illustration of the relationship between the price of an excellent or carrier and the amount demanded for a given period of time. In a typical representation, the charge will seem on the left vertical axis, the amount demanded on the horizontal axis.
A demand curve is a graph depicting the relationship among the price of a certain commodity and the quantity of that commodity this is demanded at that rate. demand curves can be used both for the rate-amount dating for an individual customer, or for all customers in a selected marketplace.
A demand curve is essentially a line that represents numerous factors on a graph where the price of an item aligns with the quantity demanded. The 3 fundamental characteristics are the placement, the slope and the shift. the location is basically wherein the curve is placed on that graph.
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hat is the basis of the received property in each of the following exchanges? new property basis a. apartment building held for investment (adjusted basis of $145,000) for office building to be held for investment (fair market value of $225,000). $fill in the blank 1 b. land and building used as a barbershop (adjusted basis of $190,000) for land and building used as a grocery store (fair market value of $350,000). $fill in the blank 2 c. office building (adjusted basis of $45,000) for bulldozer (fair market value of $42,000), both held for business use. $fill in the blank 3 d. ibm common stock (adjusted basis of $20,000) for exxonmobil common stock (fair market value of $28,000). $fill in the blank 4 e. rental house (adjusted basis of $90,000) for mountain cabin to be held for rental use (fair market value of $225,000). $fill in the blank 5 f. general partnership interest (adjusted basis of $400,000) for a limited partnership interest (fair market value of $580,000).
As the concept of profit or loss, the difference for each of them are listed as follows:
a) Gain.
b) Gain
c) Loss.
d) Gain
e) Gain
f) Gain
Profit or loss:
Profit also known as Gain or loss on the sale of property is the difference between the realized value of the goods and its adjusted basis.
On this one, If the realized value is greater than the adjusted basis then it is a gain whereas if the realized value is less than the adjusted basis it is a loss.
Given,
a. Apartment building held for investment (adjusted basis of $145,000) for office building to be held for investment (fair market value of $225,000).
b. Land and building used as a barbershop (adjusted basis of $190,000) for land and building used as a grocery store (fair market value of $350,000).
c. Office building (adjusted basis of $45,000) for bulldozer (fair market value of $42,000), both held for business use.
d. IBM common stock (adjusted basis of $20,000) for ExxonMobil common stock (fair market value of $28,000).
e. Rental house (adjusted basis of $90,000) for mountain cabin to be held for rental use (fair market value of $225,000).
f. General partnership interest (adjusted basis of $400,000) for a limited partnership interest (fair market value of $580,000).
Here we need to find he gain or loss for the given situation.
In order to find the gain or loss we have to compare the fair price and the adjusted price,
a) For the apartment,
=> $225,000 > $145,000
So, this one is gain.
b) For Land
=> $350,000 > $190,000
Therefore, this is gain
c) Office building
=> $42,000 < $45,000
So, this is loss.
d) IBM common stock
=> $28,000 > $20,000 (Gain)
e) Rental house
=> $225,000 > $90,000 (Gain)
f) General partnership interest
=> $580,000 > $400,000 (Gain)
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balance sheet data for alvarez company on december 31, the end of two recent fiscal years, follows: current year previous year current assets $359,700 $229,040 property, plant, and equipment 599,500 531,700 intangible assets 130,800 57,260 current liabilities 261,600 155,420 long-term liabilities 370,600 286,300 common stock 109,000 98,160 retained earnings 348,800 278,120 prepare a comparative balance sheet for both years, stating each asset as a percent of total assets and each liability and stockholders' equity item as a percent of the total liabilities and stockholders' equity. if required, round percentages to one decimal place.
A company's balance sheet is a statement of its assets, liabilities, and shareholder equity as of a particular date. It aids in assessing the capital structure of a company and computes the rate of return for its investors.
A balance sheet is crucial because it reveals to investors and business owners what an organisation owns and owes at any one time. The quantity of assets and liabilities at the end of a standard accounting period (twelve months) would be shown on the balance sheet.
Balance sheets are normally used to keep track of income and expenses, but they can also be used to demonstrate a company's profitability to potential investors.
A balance sheet's assets must always be equal to its liabilities and shareholders ’ equity. The name comes from the fact that the balance sheet must always be in balance. There may be issues if they don't balance, such as erroneous or misplaced data, stock or exchange rate irregularities, or improper computations.
For the given question, a comparative balance has been attached as the solution for it.
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How do you calculate discretionary cash flow?.
Discretionary cash flow is the money that remains after all capital projects and required payments, such as wages, have been funded.
What are the steps to find discretionary cash flow?Begin with the company's pre-tax earnings to calculate discretionary cash flow. Then, add all non-operating expenses back in and subtract non-operating income. Subtract any nonrecurring expenses from any nonrecurring (one-time) income. This includes costs for depreciation and amortization.DCF = net income minus depreciation and amortization, as well as other non-cash items plus working capital, i.e. (changes in the same) CAPEX - dividends receivedIn an owner-operated business, seller's discretionary earnings is a cash-flow based measure of business earnings. It includes a company's profit before taxes and interest before the owner's benefits, non-cash expenses, unusual one-time investments, and other unrelated business incomes and expenses.Non-discretionary spending is non-negotiable spending that is defined in a budget.To learn more about discretionary cash flow refer to :
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it was estimated that, in the united states, the total student loan debt surpassed total credit card debt and auto loans for the first time in 2011, with total student loan debt reaching the $1 trillion mark. question 1 if the average interest rate on these loans is 6%, estimate how much interest is being paid on the $1 trillion dollars of student loan debt each year. write your answer in standard form.
60,000,000 is the interest being paid each year.
Simple Interest = Principle amount x Rate of interest x Time/100
= [tex]\frac{1,000,000,000,000 X 6 X 1}{100}[/tex]
= 60,000,000
Debt can be defined as the sum that the borrower owes the lender. A debt is an amount of money that has been borrowed for a set period of time and must be repaid, plus interest. The borrower's creditworthiness affects both the debt's size and its acceptance. In return for the loan, creditors are then due the interest on the borrowed money. Small businesses can raise money for inventory purchases, hiring more employees, real estate purchases, and the purchase of necessary equipment by taking on debt in an efficient manner. Utilizing debt reduces a company's taxes because interest expenses are allowable as tax deductions. According to tax laws, interest payments can be written off as a cost when determining taxable income. The lower a company's taxable income, the less taxes it must pay.
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which consumer promotion offers consumers a chance to win something by filling in a card with their name and contact info? group of answer choices contest sweepstake game premium point-of-urchase promotion
contest sweepstake game consumer promotion offers consumers a chance to win something by filling in a card with their name and contact info.
A sweepstake is a particular kind of competition where a winner or winners may receive a reward or prizes. Sweepstakes were once a type of lottery connected to the sale of goods. As a result, the FCC and FTC improved American broadcasting regulations.
A promotional contest in which prizes are given away without cost to participants is referred to as a sweepstakes. Winners are chosen at random. A sweepstakes is similar to a game of chance. "An event in which participants try to win by doing something better than others" is the definition of a contest.
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which party backs the face value of the payment and performance bonds? contractor architect owner surety
The Obligee. This is the property owner who is the customer or buyer of the project. The obligee can be an individual, a company or a government entity. The obligee is the potential beneficiary of the performance bond.
A beneficiary (additionally, in believe regulation, cestui que use) within the broadest sense is a herbal individual or different criminal entity who receives cash or different benefits from a benefactor. as an example, the beneficiary of a existence insurance coverage is the individual that receives the charge of the quantity of insurance after the death of the insured.
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jenny wants health insurance that sets the amount that she must pay toward medical expenses before the insurance starts paying benefits. she is concerned about a:
Jenny wants health insurance that sets the amount that she must pay toward medical expenses before the insurance starts paying benefits. she is concerned about a Deductible.
What is the name for the sum of medical costs that the insured must cover before the insurance company starts to pay?Deductible: A predetermined amount that must be paid by the insured prior to the insurer beginning to cover the cost of covered medical services during the benefit period, which is typically one year. Plans may have separate deductibles for different services, and they may also have family deductibles.
What is the main objective of a medical expenditures policy?Your health insurance shields you from unforeseen, excessive medical expenses. the sum you pay for covered medical services before your insurance plan begins to reimburse you. For instance, if you have a $2,000 deductible, you are responsible for the first $2,000 of covered services.
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a (fill in the blank) is an individual who pays a lump sum plus a royalty or percentage of sales to a company in return for the right to operate a business in a specific location.
A licensee is an individual who pays a lump sum plus a royalty or percentage of sales to a company in return for the right to operate a business in a specific location.
Any company, group or person that has received authorization from another body to carry out an activity is known as a licensee. The authorization, or license may be granted explicitly or subtly. Through fees, royalties or some other form of revenue-sharing agreement, licensees will make restitution to the license's owner.
A licensee has been granted legal consent by another party to carry on a certain line of business over which the other party has some degree of ownership, control or responsibility. The licensee may pay an upfront charge (referred to as a licensing fee) or make a payment based on the income generated by the business agreement (referred to as a licencing revenue).
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on december 28, 2024, videotech corporation (vtc) purchased 16 units of a new satellite uplink system from tristar communications for $24,000 each. the terms of each sale were 2/10, n/30. vtc uses the gross method to account for purchase discounts and a perpetual inventory system. vtc paid the net-of-discount amount on january 6, 2025.
The amount of payment that should be paid is $376,320.It can be determine by multiply cost purchase with total units.
Payment is the value or the amount that should be paid in the transaction. The method of payment can use visa, bank account, e-wallet or cash.
Initially, we determine the gross amount through this formula:
the gross amount = cost purchase x total units
the gross amount = $24,000 x 16 units = $384,000
After that, we compute the discount by this formula below:
the discount = the gross amount x 2%
$384,000 x 2% = $7,680
After we find the discount amount, the payment will be:
$384,000 - $7,680 = $376,320
Thus, the amount of payment that should be paid is $376,320.
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your company has started using microsoft azure intune to track and manage mobile devices. as a system administrator, you've been given the responsibility of using intune to apply windows security settings that are recommended by the company security team. which of the following intune features is designed to help you configure and apply these security settings?
We can customize and implement these security settings with the use of the device security intune tool.
What is Device Security?To access the capabilities listed below, hit the Windows Start button, type windows security, choose it from the results, and then choose Device security.
Windows Security offers built-in security choices to help shield your device from dangerous software attacks.
Maintaining the security of that data is more important as we store more sensitive information on our mobile devices.
From personal photos and addresses to credit card information and phone numbers, hackers now have access to more personal information than ever before.
Secure device: Locks your phone with your PIN, pattern, or password.
We can add a message or phone number on the lock screen to make it easier for someone to find your phone if it doesn't already have one.
Therefore, we can customize and implement these security settings with the use of the device security intune tool.
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Correct question:
Your company has started using Microsoft azure in tune to track and manage mobile devices. as a system administrator, you've been given the responsibility of using intune to apply windows security settings that are recommended by the company security team. Which intune feature is designed to help you configure and apply these security settings?
Employees of small businesses often have greater job satisfaction than do employees of larger firms. One reason for this difference in job satisfaction is that employees of small businesses often:
A) Get more respect from their bosses
B) Earn higher wages
C) Receive more vacation time
D) Have more job security and better fringe benefits
One reason for this difference in job satisfaction is that employees of small business often get more respect from their bosses.
The pinnacle of many firms is ensuring that workers are content and healthy while at work. The rewards are substantial if you can attain them: It can aid a business in luring the best candidates for open positions, retaining its current workforce, and increasing efficiency. It's not always simple to maintain high levels of employee pleasure and engagement, though. Employees sometimes find themselves in a loop at work, blindly completing tasks without any satisfaction or reward. According to Gallup data, only 33% of American workers believe they are totally engaged at work, while 16% are actively disengaged and 51% are only turning up.
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where will a security plot in relation to the security market line (sml) if it has a beta of 1.1 and is overvalued? group of answer choices
When a security plot is compared to the security market line (SML), it is said to be underpriced above the SML, making it a smart investment.
A good buy is both great quality and reasonably priced.It’s simpler to spend money you don’t have if you don’t keep track of it.This way of living can easily cause money problems. B. Insufficient emergency funds and inability to pay bills.However, by understanding how to make wise purchase decisions, you can develop your financial smart.Food, drink, clothing, and housing are all necessities.It’s crucial to pay for costs like rent and mortgage payments, grocery bills, and other essentials in order to provide for your family’s fundamental needs.Be sure to consider your financial obligations.The relationship between a security’s projected return and beta is shown to be positive by the security market line (SML).A line drawn on a graph that serves as a graphical depiction of the capital asset pricing model is called the securities market line (SML) (CAPM).
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sold properties that are similar to the subject property in size and amenities, and located within one mile of said property are called:
Sold properties that are similar to the subject property in size and emenities and located within one mile of said property and used in a comparative market analysis are called as comparable properties.
Comparative market analysis or CMA in real esytate market is an estimating process of a property's price based on the recently sold similar properties in the immediate area or called as comparable properties. CMA allows sellers to set listing price for their properties and provides competitive offers for buyers. CMA considers location, age, size, structure, style, and other factors between the roperty and its comparables.
After conducting CMA, real estate agents usually provide CMA report consisted of some informations such:
The address of the property and its floor plan.The square footage of each propertyThe sales pricePrice adjustmentThe adjusted sold price per square footA reasonable price range for the propertyCMA is different from appraisal becaause CMA is conducted to establish a property's price range. Meanwhil appraisal evaluates a property's value.
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tomato, inc. made a valid s election some number of years ago. now it wishes to terminate that election. what percentage of ownership needs to agree with the termination decision?
More than 50 % percent of ownership needs to agree with the termination decision.
What is an election?The election can be defined as the formal process of a communal judgment call, a poll is how a people choose a person or people to assume public office. Votes have been the primary method used to carry out the representational government in contemporary times.
Tomato, inc. made a valid election but that was made several years ago as of now there was to be made some changes then they will need to make sure that the decision that they are going to take needs to get more than 50% of the votes to make the decision correct or to terminate it.
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The statement of cash flows identifies cash receipts and disbursements that result.
The statement of cash flows identifies cash receipts and disbursements that result in business activity.
The statement of cash flows is a financial statement that lists the company's cash inflows and outflows during a specific time period. The cash inflow and outflow that arise from business operations are represented by cash flow.
The statement of cash flows gives users of the financial statements the ability to assess how effectively a company's income generates cash and to forecast its capability to do so in the future. The statement of cash flows is a financial statement that lists the company's cash inflows and outflows during a specific time period. The cash inflow and outflow that arise from business operations are represented by cash flow.
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sam's new to search ads and worries he may not have the skills or time to run a successful ad campaign. which two dynamic search ads features will be of help to sam? (choose two.)
The two dynamic search ads features will be of help to Sam are:
Machine learning helps automatically find new keywords.Destination URLs are automatically kept up-to-date.What do you mean by the dynamic search ads?Finding clients that are specifically looking for what you have to offer on net is made simple with dynamic search ads.
Dynamic Search Advertisements leverage the content of your website to target your ads and can assist fill in the gaps of your keyword-based campaigns. They are ideal for advertisers with a well-developed website or a huge inventory.
In order to keep your advertising relevant and save you time, Dynamic Search Ad headlines and landing pages are also generated using material from your website.
Therefore, the two dynamic search ads features will be of help to Sam are:
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Hamish has calculated the budget variance in column D, but needs to indicate if it is favorable or unfavorable. Which Excel function will allow Hamish to compare the values in columns B and C to determine if the variance is favorable or unfavorable?
1) EXACT
2) ABS
3) IF
4) MAX
IF Excel function will allow Hamish to compare the values in columns B and C to determine if the variance is favorable or unfavorable. An Excel function is a pre-written formula that facilitates the completion of mathematical, statistical, and logical tasks.
When you are comfortable using a function, all you need to do is enter an equal sign (=) in the cell, the function's Hamish, and the cell range it applies to. Over 475 formulas are available in Excel's Functions Library, ranging from simple mathematical operations variance is favorable extremely challenging statistical, logical, and engineering jobs like IF statements formula (one of our all-time favourite tales); AND, OR, NOT functions; COUNT, AVERAGE, and MIN/MAX.
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the phillips curve implies that when unemployment is high, inflation is low, and vice versa. therefore, we may experience either high inflation or high unemployment, but we will never experience both together
This statement False. If inflation expectations are high, it is possible to have high inflation and high unemployment simultaneously.
What does the Phillips curve suggest?The Phillips Curve illustrates the connection between inflation and unemployment: When unemployment is low, inflation is higher, and when it is high, it is lower.Historical correlation between inflation and unemploymentThe original Phillips curve showed that inflation decreases as the jobless rate rises.The economist A.W. Phillips, who studied earnings and unemployment in the UK from 1861 to 1957, is remembered by the name of the Phillips curve. According to Phillips, there is a negative correlation between unemployment rates and pay growth rates (i.e., wage inflation).In the near term, it slopes downhill, but in the long term, it is vertical.The complete question is :The Phillips curve implies that when unemployment is high, inflation is low, and vice versa. Therefore, we may experience either high inflation or high unemployment, but we will never experience both together.
Is this statement true, false, or uncertain? Choose the answer that best explains.
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The Universal Computer Company uses a newly developed A1 chip in the manufacturer of their tablet computers. The estimated annual demand for this chip is 12,000 units. It is estimated that the cost to place an order is $75, and the holding cost for each chip is $20 per year. The company operates 320 days per year.Use the information in Scenario 9.3. What is the total annual holding and ordering costs if the Universal Computer Company orders using the EOQ quantity? Group of answer choicesgreater than $7,000greater than $5,000 but less than or equal to $7,000greater than $3000 but less than or equal to $5,000less than or equal to $3,000
Annual demand D = 12000
Order cost S = $75
Holding cost H = $20
Operating days = 320 days
EOQ = sqrt(2DS / H)
= sqrt(2*12000*75 / 20)
= 300 units
Number of orders = D/EOQ = 12000/300 = 40 orders
The time between orders = operating days/number of orders
= 320 / 40
= 8 days
Annual courses, extra often honestly referred to as annuals, are periodical publications acting regularly once according to 12 months.[1] despite the fact that actual definitions can also range, styles of annuals encompass: calendars and almanacs, directories, yearbooks, annual reports, proceedings and transactions and literary annuals.[1] A weekly or month-to-month guide might also produce an Annual featuring comparable materials to the ordinary e-book. some encyclopedias have posted annual supplements that basically summarize the information of the beyond year, similar to a few newspaper yearbooks.
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sasha is a self-employed taxpayer. they recently spent $2,100 for airfare to travel to italy. what amount of the airfare is deductible in each of the following alternative scenarios? note: leave no answers blank. enter zero if applicable. problem 9-50 part-a (algo) a. sasha's trip was entirely for personal purposes.
The amount of the airfare is deductible in scenarios where Sasha's trip was entirely for personal purposes is Zero.
What is Taxpayer?A tax is referred to a certain amount that is collected by the government of any country from its citizens and these citizens are called as taxpayers.
This tax amount collected from the citizens is used in the development process of the country including building hospitals, roads and maintaining transportation, and so on.
In the given case no amount is deducted from the airfare as the trip was entirely for personal purposes. The trip's primary purpose was not for business, so the airfare is not deductible.
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Which of the following support activities in the value chain refers to the transmission of physical materials from procurement through production and into distribution?
Human resources
Information systems
Research and Development
Logistics/Materials Management/Supply Chain
Operations
physical goods from manufacture to distribution and procurement Supply chain, materials management, and logistics. Thus, option (C) is correct.
What is management?In order to achieve desired goals and objectives, a person or group of people must be challenged and managed, according to the concept of management. Furthermore, the capacity to organize, supervise, and guide people is a component of management.
The full lifecycle of a product or process, including the processes for obtaining raw materials, producing the product, consuming it, and disposing of it or recycling it, is referred to as a value chain. A value chain is a progression of activities that a firm operating in a specific industry perform
Therefore, Thus, option (C) is correct.
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A portfolio holds stock A and stock B be in equal amounts stock A has a 50% chance of earning 10% If the economy does well and 50% chance of earning 2% if the economy performs poorly stock Bhas 50% chance of earning 3% if the economy does well and 50% chance of earning 5% if the economy does poorly What is the portfolio coefficient of variation? A 0.50 B. 0.30 C 3.33 D. 5
5% income potential with a 50% chance of success in the economy Its portfolio coefficient of variation is 0.30 in a bad economy.
Define the term coefficient of variation?The ratio of the variance to the mean is known as the coefficient of variation (CV).
The level of dispersion all around mean increases with the coefficient of variation. Typically, a percentage is used to express it. Without units, it enables comparison between value distributions whose measurement scales are incomparable.The CV links the standard deviation of a estimate to the value of the estimate when we are given estimated values. The estimate is more accurate the lower the coefficient of variation value.In a portfolio with equal holdings of stock A and stock B, stock A has a 50% probability of increasing in value by 10%. Stock Bhas a 50% probability of earning 2% in a good economy and a 50% chance of earning 3% in a bad market.
Thus, 50% possibility of achieving success with in economy and a 5% income potential In a weak economy, its portfolio coefficient of variation is 0.30.
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on january 1, 2024, the general ledger of freedom fireworks includes the following account balances:
On january 1, 2024, the general ledger of freedom fireworks includes the following account balances:
1. Diary Entries:
Debit Cash $100,000 as of January 1
Credit 7% Payable Note (Captive Credit Corporation) $100,000
to document the issuance of an instalment note payable that will be paid over 60 months at a rate of $1,980 per month.
Debit Cash $31,000 on January 4
$31,000 in Credit Accounts Receivable
to keep track of customer cash receipts.
Debit Accounts Payable for January 10, $11,000
Credit $11,000 in Cash
to document the payment made to suppliers on account.
January 15: Salary debit: $28,900
Cash Credit $28,900
to keep track of money spent on salaries.
$65,000 was debited on January 30.
Receivables on debit total $130,000.
$195,000 in credit sales revenue
to keep track of both cash and account sales.
Debit $112,500 for the cost of goods sold
Credit Stock $125,000
to keep track of the cost of sold goods.
Debit Interest Expense for January 31: $583.
$1,397 in Debit 7% Note Payable
Credit $1,980 Cash
to keep track of the due note's monthly payment.
Revision of Journal Entries:
A debit of $800 for depreciation costs.
accumulated depreciation credit of $800
c. $2,300 in debit bad debt expenses
$2,300 Credit Allowance for Uncollectible Accounts
c. A debit for $26,100 in salaries.
Payable in Credit Salaries: $26,100
d. Deduct $8,000 in income taxes.
Income Taxes Due Credit $8,000
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The complete question is ''On January 1, 2021, the general ledger of Freedom Fireworks includes the following account balances:
Accounts Debit Credit
Cash $ 11,200
Accounts Receivable 34,000
Allowance for Uncollectible Accounts $ 1,800
Inventory 152,000
Land 67,300
Buildings 120,000
Accumulated Depreciation 9,600
Accounts Payable 17,700
Common Stock 200,000
Retained Earnings 155,400
Totals $384,500 $384,500
During January 2021, the following transactions occur:
January 1 Borrow $100,000 from Captive Credit Corporation. The installment note bears
interest at 7% annually and matures in 5 years. Payments of $1,980 are required at
the end of each month for 60 months.
January 4 Receive $31,000 from customers on accounts receivable.
January 10 Pay cash on accounts payable, $11,000.
January 15 Pay cash for salaries, $28,900.
January 30 Firework sales for the month total $195,000. Sales include $65,000 for cash and
$130,000 on account. The cost of the units sold is $112,500.
January 31 Pay the first monthly installment of $1,980 related to the $100,000 borrowed on
January 1. Round your interest calculation to the nearest dollar.
Required:
1. Record each of the transactions listed above.
2. Record adjusting entries on January 31.
a. Depreciation on the building for the month of January is calculated using the straightline method. At the time the building was purchased, the company estimated a service life of 10 years and a residual value of $24,000.
b. At the end of January, $3,000 of accounts receivable are past due, and the company estimates that 50% of these accounts will not be collected. Of the remaining accounts receivable, the company estimates that 2% will not be collected. No accounts were written off as uncollectible in January.
c. Unpaid salaries at the end of January are $26,100.
d. Accrued income taxes at the end of January are $8,000.
3. Prepare an adjusted trial balance as of January 31, 2021, after updating beginning balances (above) for transactions during January (requirement 1) and adjusting entries at the end of January (requirement 2).
4. Prepare a multiple-step income statement for the period ended January 31, 2021.
5. Prepare a classified balance sheet as of January 31, 2021. (Hint: The carrying value of notes payable on January 31, 2021 is $98,603; $17,411 is reported as notes payable in the current liabilities section and $81,192 is reported as notes payable in the long-term liabilities section ($17, 411 + $81,192 = $98,603).
6. Record closing entries.
7. Analyze the following for Freedom Fireworks:
a. Calculate the debt to equity ratio. If the average debt to equity ratio for the industry is 1.0, is Freedom Fireworks more or less leveraged than other companies in the same industry?
b. Calculate the times interest earned ratio. If the average times interest earned ratio for the industry is 20 times, is the company more or less able to meet interest payments than other companies in the same industry?
c. Based on the ratios calculated in (a) and (b), would Freedom Fireworks be more likely to receive a higher or lower interest rate than the average borrowing rate in the industry?
if the economy is in recession with high unemployment and output below potential gdp, then would cause the economy to return to its potential gdp? group of answer choices a loose monetary policy a tight monetary policy fewer loanable funds higher interest rates
A loose monetary policy might help the economy recover to its potential GDP if it were experiencing high unemployment, a recession, and poor output. As a result, option (A) is the preferable one.
What is a loose monetary policy?Expansionary monetary policy, commonly referred to as loose monetary policy, boosts the availability of credit and money to encourage economic growth. In difficult economic times, a central bank may implement an expansionist monetary policy to lower unemployment and increase growth.
The rate decreases when the central bank adopts a loosening policy, often known as injecting cash into the economy by acquiring or borrowing securities.
Hence, option (A) is accurate.
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Major food companies and smaller grocery stores in the inner city are applying the marketing concept as they learned it. they are giving people what they want, as measured by store sales. they are not making much of an effort to encourage people to buy products that are more nutritious. is this a problem as you see it?
Creating a customer-driven marketing plan for the company's goods, barring extensive selling and advertising.
Which of the following claims regarding marketing initiatives is accurate?In order to generate demand for a company's products, marketing is a tactic that is used to raise awareness of the items. As a result, the company's revenues increase. As the demand for the goods increases, manufacturing will increase, creating more jobs for the economy.
What is the most accurate way to define marketing?The goal of marketing is to generate interest in the goods or services that your business offers. Understanding the interests of your potential customer and conducting market research enable this. All facets of a business, including product development, sales, distribution strategies, and advertising, fall under the umbrella of marketing.
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using the maximax method, which decision alternative will you chose? a) sell company b) form joint venture c) sell software on own
Using the maximax method, sell company decision alternative will you chose.
Option A is correct.
What is the maximax method?A maximax strategy is a game theory strategy in which players, faced with uncertainty, make decisions that result in the "best of the best" outcomes.
How would you describe the decision criteria for maxi-max?The maximax standard is an optimistic approach. This suggests that decision makers should look at the maximum gains of the alternatives and choose the one that gives the best results. This criterion appeals to adventurous decision makers who are attracted to high payouts.
What is the maximax standard for quantitative methods?A maxi-max is a criterion used by decision makers to select the action that allows the maximum payout. If the paytable contains losses instead of wins, the biggest decision maker chooses the action that allows for the smallest losses.
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in which way do modern information systems contribute most directly to the creation of a high-performance work system?
Modern information systems contribute most directly to the creation of a high-performance work system by enabling organizations to give many employees access to information.
An organization or corporation, is an entity—such as a business enterprise, an institution, or an association—comprising one or extra humans and having a selected reason. The word is derived from the Greek word organon, because of this tool or instrument, musical instrument, and organ.
An organization is a group of those who paintings collectively, like a neighborhood affiliation, a charity, a union, or a company. you can use the phrase agency to consult organization or business, or to the act of forming or establishing some thing.
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