Answer:
The answer is yes, it is deceptive.
Explanation:
Because Listerine was advertising a false information. It is a crime.
A US District Judge Denny Chin ruled against the listerine advertisements under the argument that they were false and misleaded and posed a publick health risk. The judge said that the implicit message that Listerine can replace floss is false and misleading, the dentists and hygienists have been telling their patients for decades to floss daily.
The Listerine advertisement is deceptive in the sense that it omits crucial information about the relative effectiveness of flossing done correctly versus using Listerine. This can be viewed as a misrepresentation through omission, which is a common ethical issue in advertising.
Explanation:This question pertains to the ethical considerations surrounding advertising communication. On one hand, the Listerine advertisement is factually accurate in the sense that if a person flosses incorrectly, using Listerine could indeed be as effective in preventing tooth plaque and gum disease. On the other hand, the advertisement can be viewed as deceptive because it fails to provide the full context that when flossing is done correctly, it is more effective than using Listerine.
This situation arguably represents a misrepresentation of facts through omission, a common business ethics issue in advertising. The advertisement presents only some of the facts, intentionally omitting crucial information that flossing done right is more effective. Therefore, while not outright lying, the advertisement can be perceived as misleading, hence, deceptive.
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All of the following are main processes of knowledge management EXCEPT: Group of answer choices A. The generation of knowledge B. The capturing of knowledge C. The absorption of knowledge D. The codification of knowledge E. The transfer of knowledge
Answer:
Letter C is correct. The absorption of knowledge.
Explanation:
Knowledge management is a multifaceted concept that is a set of processes that aims to generate, capture, transfer and apply knowledge in organizations. These are processes that benefit organizations in organizing the individual knowledge of each employee in order to achieve the best performance of activities and processes. It is multifaceted because it encompasses several variables that exceed the information obtained through technology, is related to strategic management, innovation, marketing, economics, psychology, sociology and several other factors that make up the organizational environment.
Samara interviewed for a management position and was just asked back for a second interview with the head of the department. If she does will in this second interview, she will move on to an interview with the company president. What type of interview format is this?
Answer: This interview is a Sequential interview because Sequential interviews are a series of interviews in which the candidate is evaluated by several supervisors. Sequential interviews are common in large companies and usually a Human Resources specialist, the department head and a senior supervisor are involved.
After she was promoted to a high-level executive position in the large company for which she worked, Jorana developed more pro-business political attitudes. This best illustrates the impact of ________ on attitudes.
A)deindividuation
B)social facilitation
C)role-playing
D)mirror-image perceptions
E)the bystander effect
Answer: Role playing
Explanation: Role playing is a situation where an individual changes his/her original character to match a certain behavior either intentionally or not.
In the question Jorana is trying to switch from her original behavior to the behavior required of her new official position.
At the sales presentation for EFTPS (a type of software for making the payment of all federal taxes secure, easy, and fast), it would be most logical for which member of the sales staff to demonstrate how payments can be set up 12 months in advance and how easy it is to view payment history?
Answer:
a technical specialist in computer software
Explanation:
In this case a technical specialist would be someone that provides expert consultancy on computer software, more specifically tax software. A salesperson is probably very good at getting the attention of the customers and setting the proper mood for a sale, but when you need someone who can answer very technical questions, then you need a technical specialist.
Unless of course the salesperson was a technical specialist in computer software, although the careers are not that compatible. The ability to be able to sell high tech products and know the technical specifications was something that made Steve Jobs unique. But there are not very many Steve Jobs around.
A Product Demonstrator or Sales Engineer, who has an in-depth understanding of the product, would be the most suitable to demonstrate the features of the EFTPS software at a sales presentation.
Explanation:In the context of a sales presentation for the EFTPS software, the most logical member of the sales staff to demonstrate how payments can be set up 12 months in advance and how easy it is to view payment history would likely be the Product Demonstrator or a Sales Engineer. These individuals typically have deep knowledge of the product's functionalities and can effectively showcase its features and benefits. The Product Demonstrator or Sales Engineer would take the audience through a step-by-step process of setting up payments and explain the ease of viewing payment history in the system - all the while highlighting the software's secure and user-friendly design.
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An auto analyst is conducting a satisfaction survey, sampling from a list of 10,000 new car buyers. The list includes 2,500 Ford buyers, 2,500 GM buyers, 2,500 Honda buyers, and 2,500 Toyota buyers. The analyst selects a sample of 400 car buyers, by randomly sampling 100 buyers of each brand. Is this an example of a simple random sample?
Answer:
No
Explanation:
Simple random sampling gives each member in the entire population an equal opportunity to be included in the sample. The technique removes bias in the selection procedure. It applies where a small number would adequately represent the entire population.
The procedure described in this case is a deviation of simple random sampling. It is stratified random sampling.
In stratified random sampling, the population is first divided into subgroups based on shared characteristics. The researcher uses simple random sampling to select representatives of each group in the sample population. The techniques ensure each group is fairly represented in the research.
Subdividing vehicles by their make is creating strata or subgroups.
Island Home Goods pursues a related diversification strategy, deriving less that 70 percent of revenues from its original business unit, Island Furniture, and maintaining several related units including Island Lighting and Island Hardware. Which of the following structures is most likely to support this strategy?
A. M-Form with centralized decision-making power (cooperative multidivisional)
B. M-Form with centralized decentralized decision-making power (competitive multidivisional)
C. functional with centralized decision-making power
D. functional with decentralized decision-making power
Answer:
A. M-Form with centralized decision-making power (cooperative multidivisional)
Explanation:
For the firms which perform related or unrelated diversification, they always use the M-form organization structure and the power the take decisions is always centralized. This allows high level of integration of authority.
When Kimberly begins working for Pharmco Industries the company tells her that at a future after so many years of employment with the company she can receive retirement pay. Her rights to receive pay upon retirement would be considereda. vested.b. accrued.c. sheltered.d. inferred.
Answer:
The correct answer is a. vested.
Explanation:
Retirement is the administrative act by which an active worker, whether self-employed or employed, goes into a passive or inactive situation, after reaching the maximum age, or due to serious chronic illness or disability. He then obtains a monetary benefit for the rest of his life. The labor legislation of each country stipulates different conditions in this regard.
In order to compensate for the loss of income that derives from the work termination, the beneficiary of the retirement is recognized an economic benefit that usually consists of a monthly income. The benefit is for life and only ends with the death of the interested party. The amount of the benefit can be based on different criteria: for example, with the actuarial criteria, it is established in relation to the amount and amount of the contributions made; with a substitution criterion, it is established from a certain percentage of the amount of income during working life.
In public retirement systems, to access a retirement it is necessary to meet age requirements (generally around 60-65 years) or access an early retirement for reasons of disability. On the other hand, in the case of a contributory system, access usually depends on having fulfilled a minimum of years of social security contributions.
Allen bought a warehouse to hold his excess inventory for $3,220,000 four years ago. Allen would have to pay $3,979,000 to buy a similar warehouse now. At which amount should Allen report the warehouse on a Balance Sheet prepared in accordance with GAAP (Generally Accepted Accounting Principles)?
Answer:
$3,220,000
Explanation:
All assets have to be recorded at their cost basis, not their current fair market value.
Allen should have depreciated the value of the warehouse using a 39 year straight line depreciation for nonresidential real property = $82,564 depreciation expense per year x 4 years = $330,256.
Apparently Allen didn't record any depreciation expense for the warehouse, so he should use the cost basis.
A hunger-relief organization has earmarked between $2 million and $3.5 million (inclusive) for aid to two African countries, Country A and Country B. Country A is to receive between $1 million and $1.25 million (inclusive), and Country B is to receive at least $1 million. It has been estimated that each dollar spent in Country A will yield an effective return of $0.50, whereas a dollar spent in Country B will yield an effective return of $0.90. How should the aid be allocated if the money, in millions, is to be utilized most effectively according to these criteria?
Answer:
Explanation:
It is clear that the yield in country B is higher than that of country A, although country A could sometimes receive more money, since it moves in a range, while country B always receives the same amount, the key factor is to measure the cost of performance that each country has, that is, just knowing the performance is not enough to make a decision, it is necessary to make a social assessment of projects that although not financial should be evaluated from the costs of generating such profitability.
Harrison is self-employed. He sells advertising specialty items like calendars, pens, etc., imprinted with the name and advertising message of local businesses who give the items to customers and prospects. He has set for himself a goal of earning $180,000 in sales for this year. Harrison's revenue goal is an example of a(n) _____ goal.
Answer: Performance goals
Explanation: In simple words, performance goals refers to the short term objective that are set by someone for himself or by others, to perform a standard amount of work at a given time period in his or her current job or position in which the individual is working.
It can be seen as the expectations for performance of the work to be done in relation to quality or volume. These standards are based on various factors such as past performances, future trends and image or qualities of the individuals who is going to perform the duties.
Hence the goal of Harrison to make a certain amount of profit at a specified time period is an example of performance goals.
4. Treasury bills, notes, and bonds Suppose you purchase a corporate bond that is due in one year, with a face value of $100 and an annual coupon rate of 6.5%. Coupons are paid at the end of each year. The annual coupon payment is . If the current yield is 5.0%, then the price paid for the bond is . Suppose interest rates increase. The price of your existing corporate bond will .
Answer:
1) $6.50
2) $130
3) Decrease
Explanation:
Answer:
The answers are as follows:
Annual coupon payment: $6.50
Bond Price: $101.43 (rounded to 2 decimal places).
If interest rates rise, the price of your existing corporate bond will fall.
Explanation:
A bond is a fixed income security. The issuer of the bond has to pay a fixed amount to the holder of the bond every period. These payments are known as coupon payments and calculated based on the contractual coupon rate and the face value of the bond. In this case, the coupon payments amount to 6.5% (0.065) * $100 = $6.05.
A bond's price is the present value of all future anticipated cash flows. To calculate this, the prevailing market interest rate or yield (5%) is used to discount the cash flows. Since the period is only one year and the coupon rate is annual, the repayment of the face value of the bond will coincide with the coupon payment. At the end of the year $106.5 ($100 (face value) + $6.5(coupon) will be paid out. The discounting of this amount is as follows:
Present value (bond price) = Future Value/(1 + yield)^1
$101.4285714 = $106.5/(1+0.05)^1 where the numerator is the total amount paid at year end and the denominator is the discounting factor raised to the power of 1 to signify the duration of one time period or a year.
Interest rates and bond prices have an inverse relationship. The higher the interest rate, the lower the bond price and vice versa. Using the formula above, if the yield was lower than 5%, say 3% then the bond price would be $103.4 but if the yield was higher than 5%, say 7% then the bond price would be $99.53
Sunshine's Organic Market sells organic produce. Assume that labor is the only input that varies for the firm. The store manager has determined that if she hires 12 workers, the store can sell 300 pounds of produce per day. If she hires 13 workers, the store can sell 370 pounds of produce per day. The store earns $4 for each pound of produce that it sells, and the manager pays each worker $80 per day. Assuming no changes in either the daily wages paid to store workers or the price at which the store sells its produce, what is the minimum number of sales that would allow the firm to increase its profits by hiring a 14th worker?
Answer:
The 14th worker will need to increase sales by 20 pounds for a total of 390 pounds
Explanation:
The worker cost is $80
To make a profit the company will need sales for at least that amount:
$80 wages per day / $4 earnings per pound = 20 pounds
in total sales would need to be 370 + 20 = 390 pounds
Bunyan Heavy Equipment, a U.S. firm, is investigating expanding into Russia using a greenfield venture. The committee researching this project has delivered a negative report. The main concern of the committee is probably
a. loss of intellectual property due to Russian piracy.b. the fluctuation in the value of the ruble.c. the numerous and conflicting legal authorities in Russia.d. Russia's recent actions to gain state control of private firms' assets.
Answer:
All of these are valid concerns and very relevant indeed, but the most problematic situation would be:
D) Russia's recent actions to gain state control of private firms' assets.
Explanation:
Russia is perceived as a very corrupt state, I don't live in Russia so I can't be 100% sure. Russian leaders are famous for being multi-billionaires that used to be communists, sounds weird.
The problem with Russia is that when their leaders want a private company they just take it away from its rightful owner and many times when the rightful owners complain they are sent to prison and beaten up to death. This may sound crazy but it happened several times including Russia's largest private company Yukos in 2003. Its owner whose last name is Jodorkovski was sent to prison for about 10 years, and its CFO was beaten to death while being held in a Siberian prison.
Wanda, Derek, and Mitchell formed B. Flowers, LLP three years ago. A year ago, Derek and Mitchell decided that the company was ready to open a new location and had B. Flowers take out a loan from a bank for the extra capital needed to expand. The new location has not performed well, and B. Flowers is unable to pay the remaining $50,000 owed to the bank. Is Wanda liable to the bank for the debt?
a. Yes, because she is a partner.
b. No, unless the partners have not complied with the LLP statutory filing requirements.
c. Yes, if she authorized the loan.
d. No, because partners in an LLP are never liable for the debts of the partnership.
Answer:
B) No, unless the partners have not complied with the LLP statutory filing requirements.
Explanation:
When partners form a limited liability partnership (LLP), each partner's liability is limited to the total amount invested in the business, unlike regular partnerships were liability is unlimited.
Since this business didn't perform well, the bank can try to collect the money owned from the partnership only, it cannot go after the partners' personal assets.
Of course, the partnership must have completed all the necessary legal requirements and paperwork.
A factory uses 625 tons of steel per year to make reinforced rods. Its ordering costs are $40 per order, and its holding costs are $5 per ton. According to the economic order quantity (EOQ) model, approximately how often does the company have to place an order to maintain optimal order quantity?
Answer:
The company has to place an order approximately once every 59 days to maintain optimal order quantity.
Explanation:
Please find below for the explanations and calculations:
EOQ = square root of [(2* Order Cost per one order * annual demand) / Holding Cost per bracket per year ] = square root of [ (2*40*625)/5] = 100 tons.
Orders made annually give EOQ = Annual demand / EOQ = 625 / 100 = 6.25 orders
Assuming a factor working for 365 days per year, the frequency of the orders made is 365/6.25 days or 59 days.
Gold Coast Health System just paid an annual dividend of $1.50, which is expected to grow at a constant rate of 5 percent per year. If the current required rate of return is 15 percent, what is the value of Gold Coast’s stock?
A) $15.75
B) $15.50
C) $15.25
D) $15.00
E) $14.75
Answer: Po = Do(1+g )/ke-g
Po = $1.50(1+0.05)/0.15-0.05
Po = $1.50(1.05)/0.10
Po = $1.575/0.10
Po = $ 15.75
The correct answer is A
Explanation: In this question, there is need to calculate the value of the company's stock on the ground that dividend has been paid. The value of the stock is a function of current divided paid, growth rate and the required rate of return on the stock.
What is the correct answer Even when competitive firms are unable to calculate marginal revenue product directly,
A) will push wage rates toward the marginal revenue product of labor.
B) planned future investment in physical capital
C) the pressures of competition in the labor market
D) the marginal workers ongoing skills training
E) wages that exceed workers' net revenue product
Answer: The corrects answers are "C) the pressures of competition in the labor market" and A) will push wage rates toward the marginal revenue product of labor.".
Explanation: Because the correct and complete statement would be: Even when competitive companies cannot directly calculate the product of marginal income, the pressures of competition in the labor market will push wage rates towards the product of marginal income from labor.
Making it clear that the strong pressures that are the product of competition in the labor market pushed wage rates towards the product of marginal income.
Active Feet, a small manufacturer of shoes, hired an additional vice-president and purchased a barrel of synthetic rubber used to make shoe soles. These two expenses should be considered a(n) ____ and a(n) ____, respectively.a.selling cost/cost of goods soldb.overhead cost/cost of goods soldc. selling cost/overhead costd. overhead cost/selling cost
Answer:
B) overhead cost/cost of goods sold
Explanation:
Overhead costs: all expenses not directly attributed to the production of a good or service (e.g. insurance, legal fees, administrative expenses, etc.)
Costs of goods sold: all costs directly attributed to the production of a good or service (e.g. direct labor, direct materials)
Sarah, a manager at a consulting firm, has been keenly analyzing the performance of a new recruit, Tom, who turns out to be extremely intelligent. Given Tom's performance and intelligence, Sarah concludes that he will be a good manager in the future even though his interpersonal skills are not half as impressive. This conclusion on Sarah's part seems to be the result of ________.
Answer:
the halo effect.
Explanation:
Based on the information provided within the question it can be said that this conclusion on Sarah's part seems to be the result of the halo effect. This effect refers to the situation in which an individuals positive impression on another person or company positively affects that person/company's feelings in other aspects of the individual in question. Which is exactly what happened in this scenario as Sarah was impressed with his performance and intelligence which made up for his lack of interpersonal skills.
At the end of a company's first year of operations, 2,000 units of inventory are on hand. Variable costs are $100 per unit and fixed manufacturing costs are $30 per unit. The use of absorption costing, rather than variable costing, would result in a higher net income of what amount?
Answer:
absorption income higher by $60000
Explanation:
given data
inventory on hand = 2,000 units
Variable costs = $100 per unit
fixed manufacturing costs = $30 per unit
to find out
higher net income of what amount
solution
we know that Absorption cost and variable cost are different in their treatment of the fixed manufacturing costing
so we use of absorption cost that carry over in fix cost into ending inventory is here
absorption cost that carry over = fixed manufacturing costs × inventory on hand
absorption cost that carry over = $30 × 2000
absorption cost that carry over = $60000
so that here this amount is use for variable costing and absorption income higher by $60000
Sunland Company purchases a new delivery truck for $56100. The sales taxes are $4500. The logo of the company is painted on the side of the truck for $1200. The truck license is $180. The truck undergoes safety testing for $280. What does Sunland record as the cost of the new truck?
Answer:
$62,080
Explanation:
The computation of the cost of the new truck is shown below:
Cost of the new truck = Purchase Price of delivery truck + sales taxes + logo painting cost + safety testing costs
= $561,00 + $4,500 + $1,200 + $280
= $62,080
The truck license is a yearly cost so it would not be included while computing the cost of the new truck. Hence, ignored it
Elegance Bath Products, Inc. (EBP) makes a variety of ceramic sinks and tubs. EBP has just developed a line of sinks and tubs made from a mixture of glass and ceramic. The sinks sell for $150 each and have variable costs of $80. The tubs sell for $600 and have variable cost of $450. The glass and ceramic sinks and tubs require the use of specialized molding equipment. The specialized molding equipment has 4,050 hours of capacity per year. A sink uses an average of 2 hours of specialized molding equipment time; a tub uses an average of 5 hours of specialized molding equipment time.Assume that EBP can sell as many as 1,000 sinks and 500 tubs per year. How many tubs should EBP produce?a.1,000b.500c.410d.675e.zero
Answer:
C) 410 tubs
Explanation:
the contribution margin for sinks is $70 (= $150 - $80) and the contribution margin for tubs is $150 (= $600 - $450).
the molding equipment has 4,050 hours of capacity per year, so it can produce either 2,025 sinks or 810 tubs.
we can determine what product is more profitable if we determine a contribution margin per molding equipment usage ratio:
sink = $70 / 2 hours = $35 per hourtub = $150 / 5 hours = $30 per hourIt is more profitable to produce sinks than tubs, but we can sell only 1,000 sinks per year, so even after we product the 1,000 sinks we will have spare molding equipment capacity which we can use to produce tubs.
The spare molding equipment capacity after producing sinks = 4,050 total hours - 2,000 hours used to produce sinks = 2,050 spare molding hours
We can produce 410 tubs (= 2,050 molding hours / 5 hours per tub)
Howard Co. had the following first-year amounts for a $7,000,000 construction contract: Actual costs $2,000,000 Estimated costs to complete 6,000,000 Progress billings 1,800,000 Cash collected 1,500,000 What amount should Howard recognize as gross profit (loss) using the percentage-of-completion method?
a. ($1,000,000)b. ($200,000)c. $800,000d. $1,750,000
Answer:
estimated loss from the project is $1,000,000
correct option is a. ($1,000,000)
Explanation:
given data
contract price = $7,000,000
Actual costs = $2,000,000
Estimated costs = 6,000,000
Progress billings = 1,800,000
Cash collected = 1,500,000
to find out
What amount should Howard recognize as gross profit (loss)
solution
we get in the amount to complete the project that is
amount to complete = contract price - Actual costs - Estimated costs
amount to complete = $7,000,000 - $2,000,000 - 6,000,000
amount to complete = - $1000000
so estimated loss on project
so that the total $1,000,000 loss must be recognize
so correct option is a. ($1,000,000)
Final answer:
To determine gross profit (loss) when using the percentage-of-completion method, the formula [(Actual costs - Estimated costs to complete) / Total Estimated costs] x Profit Earned so far is applied. By calculating the values provided in the question, the correct answer is $250,000.
Explanation:
Gross profit (loss) = [(Actual costs - Estimated costs to complete) / Total Estimated costs] x Profit Earned so far
Given:
Actual costs = $2,000,000
Estimated costs to complete = $6,000,000
Progress billings = $1,800,000
Cash collected = $1,500,000
Substitute the values into the formula to calculate:
Gross profit (loss) = [($2,000,000 - $6,000,000) / $6,000,000] x $1,500,000 = ($4,000,000 / $6,000,000) x $1,500,000 = $1,000,000 x 0.25 = $250,000
The correct answer is $250,000.
At 9,000 direct labor hours, the flexible budget for indirect materials is $27,000. If $28,000 of indirect materials costs are incurred at 9,200 direct labor hours, the flexible budget report should show the following difference for indirect materials_______.
Answer:
Variance will be $400
Explanation:
We have given number of labor hour = 9000
Budget for indirect material = $27000
Indirect material cost [tex]=\frac{27000}{9000}=3\ per\ direct\ labor\ hour[/tex]
We have given that there are 9200 direct labor hours
So budgeted cost = 9200×3 = $27600
We have given indirect material cost = $28000
So variance = $28000-$27600 = $400
For indirect materials, the flexible budget report should show an unfavorable variance of $400 since actual costs ($28,000) exceeded the flexible budgeted costs ($27,600) at 9,200 direct labor hours.
Explanation:The question pertains to the calculation of a variance in a flexible budget report for indirect materials. When actual hours worked (9,200) exceed the hours in the flexible budget (9,000), we need to adjust the budget to reflect what the indirect materials cost should have been at that level of activity. The flexible budget for indirect materials was $27,000 at 9,000 hours, which gives us a rate of $3 per hour ($27,000 / 9,000 hours). At 9,200 hours, the adjusted flexible budget for indirect materials would be 9,200 hours x $3 per hour = $27,600. With the actual cost being $28,000, the variance is $28,000 - $27,600 = $400 unfavorable, because the actual cost exceeded the flexible budget amount.
During the month a company paid $62.75 for office supplies and $71.22 for miscellaneous expenses from the petty cash fund. The entry to replenish the petty cash fund at the end of the month would include:
Answer:
Debit Petty cash fund $133.97
Credit Bank account $133.97
Explanation:
On purchase of office supplies, the following entries are passed;
Dr Office supplies (p/l) $62.75
Cr Petty cash fund $62.75
On incurring the miscellaneous expenses, the following entries are passed;
Dr Miscellaneous expenses (p/l) $71.22
Cr Petty cash fund $71.22
Total credits to petty cash fund
= $62.75 + $71.22
= $133.97
This amount is withdrawn from the bank for the replenishment of the petty cash account. As such, the following entries are passed;
Dr Petty cash fund $133.97
Cr Bank account $133.97
In a single year, the Netherlands can raise 100 tons of beef or produce 1,000 boxes of tulips. In the same growing season, Belgium can raise 50 tons of beef or produce 750 boxes of tulips. From this information, we know that:
1)Belgium has a comparative advantage in raising beef2)Belgium has an absolute advantage in raising beef3)the Netherlands has a comparative advantage in raising tulipes4)the Netherlands has a comparative advantage in raising beef
Answer:
The answer is : 4) The Netherlands has a comparative advantage in raising beef
Explanation:
First, it is clear to see Netherlands has an absolute advantage in raising beef ( 100 tons of beef for Netherlands in comparing to 50 tons of beef of Belgium)
For Netherlands, the opportunity cost to raising 1 ton of beef is 10 boxes of tulips; the opportunity cost to produce 1 box of tulip is 0.1 ton of beef. (1)
For Belgium, the opportunity cost to raising 1 ton of beef is 15 boxes of tulips; the opportunity cost to produce 1 box of tulip is 0.07 ton of beef. (2)
From (1) and (2) => Netherlands has comparative advantages in raising beef while Belgium has comparative advantages in producing boxes of tulips.
Thus, 4 is chosen.
Belgium has a comparative advantage in producing beef, while the Netherlands has a comparative advantage in producing tulips. So, the correct answer is option 4) The Netherlands has a comparative advantage in raising beef.
To determine who has a comparative advantage, we need to look at the opportunity costs involved for each country.
Firstly, let's define the opportunity cost for each good:
Netherlands:
- Opportunity cost of 1 ton of beef = 10 boxes of tulips (since 100 tons of beef = 1,000 boxes of tulips)- Opportunity cost of 1 box of tulips = 0.1 tons of beef (since 1,000 boxes of tulips = 100 tons of beef)Belgium:
- Opportunity cost of 1 ton of beef = 15 boxes of tulips (since 50 tons of beef = 750 boxes of tulips)- Opportunity cost of 1 box of tulips = 1/15th tons of beef (since 750 boxes of tulips = 50 tons of beef)Now, compare the opportunity costs:
Netherlands: 1 box of tulips costs 0.1 tons of beef (less than Belgium)Belgium: 1 ton of beef costs 15 boxes of tulips (less than Netherlands)From this comparison, we can conclude:
Belgium has a comparative advantage in producing beef.Netherlands has a comparative advantage in producing tulips.Greensaver Corp. is a company that sells electricity. Greensaver has taken the initiative to generate more power from solar and wind sources and is planting saplings in parks and on roadsides to combat the polluting effects of nonrenewable resources.
Which of the following best describes Greensaver Corp.'s efforts?
a.Sustainability
b.Corporate philanthropy
c.Corporate social responsibility (CSR)
d.Socially responsible investing (SRI)
Answer:
c.Corporate social responsibility (CSR)
Explanation:
Based on the information provided within the question it can be said that Greensaver Corp's efforts are best described as Corporate social responsibility. This refers to the act of a company' charitable nature to contribute to societal goals. Which is exactly what Greensaver Corp is doing by installing saplings in parks and roadsides in order to combat pollution of nonrenewable resources for the good of the planet and society.
DiskSan has to order flash transistors ($5 each) to create USB flash memory drives. Their monthly demand is 10,000 units, their holding cost (which is mostly comprised of obsolescence costs) is 10% per month per dollar in inventory, and the setup costs for an order is $5 (mostly paperwork etc.). Determine the economic order quantity for these flash transistors.
Answer
Economic order quantity will be 447.21
Explanation:
We have given monthly demand = 10000 units
We know that 1 year = 12 month
So Annual demand (D) = monthly demand × 12 months = 10000 × 12 = 120000 units
Cost of transistor = $5 per unit
Monthly Holding cost = 10% of cost = 10% of $5 = $0.50
So annual holding cost (H) = monthly holding cost × 12 = $0.50 × 12 = $6
Setup cost(S) = $5
We know that economic order quantity is given by
Economic order quantity = [tex]\sqrt{\frac{2DS}{H}}=\sqrt{\frac{2\times 12000\times 5}{6}}=447.21[/tex]
Final answer:
The Economic Order Quantity (EOQ) for DiskSan, given a monthly demand of 10,000 units, setup costs of $5, and a holding cost of 10% per month, is determined to be 1,000 units. This calculation is based on converting the monthly demand to yearly, applying the EOQ formula, and calculating the holding costs on a yearly basis.
Explanation:
The question asks to determine the Economic Order Quantity (EOQ) for DiskSan, a company that orders flash transistors to create USB flash memory drives. The EOQ model is essential for minimizing the total cost associated with the ordering and holding of inventory. To calculate EOQ, we use the formula: \(EOQ = \sqrt{\frac{2DS}{H}}\), where D is the yearly demand, S is the setup cost per order, and H is the holding cost per unit per year.
Given that DiskSan's monthly demand is 10,000 units, the calculation must first convert this to a yearly demand (D = 120,000 units/year). The setup costs (S) are $5, and the holding cost (H) is calculated as 10% of the cost per transistor per month, translating to 120% per year of $5, which is $6 per unit per year.
Plugging these values into the formula gives us: \(EOQ = \sqrt{\frac{2 \cdot 120,000 \cdot 5}{6}} = \sqrt{1,000,000} = 1,000 \). Therefore, the Economic Order Quantity for DiskSan is 1,000 units.
Which of the following statements regarding a SEP is true?
1. The maximum contribution to a SEP is the lesser of 100% of compensation or $53,000 for 2015.
2. A SEP is appropriate for an employer with many part-time employees who want to limit coverage under the SEP.
3. Contributions to a SEP must vest at least as rapidly as a 5 year cliff vesting schedule or 2 to 6 year graduated vesting schedule.
4. If a partnership makes a flat percentage contribution equal to 25% of all employees' salary for the year to a SEP, a partner earning $100,000 during the year would receive a $25,000 contribution.
Answer:
All the statements are false
Explanation:
A simplified employee pension (SEP) retirement plan can be set up by an employer or by someone that is self-employed. The employer benefits from the SEP because his contributions are tax deductible. The employer's contributions to SEP individual retirement accounts is completely discretionary, they don't have to follow a fixed rate or amount. The contributions must be equally proportional to all full time employees. The main advantage of a SEP plan is that it is very simple to set up.
Final answer:
The correct statement about a SEP is that it is suitable for an employer with many part-time employees who want to limit coverage. Contributions do not have to follow a vesting schedule and are immediately vested. The limit for contributions should be confirmed with the IRS as it may change.
Explanation:
Regarding the question on a Simplified Employee Pension (SEP) plan, the correct statement is that a SEP is suitable for an employer with many part-time employees who want to limit coverage under the SEP. This option allows for flexibility in determining which employees are covered under the SEP plan, as coverage requirements can be set to exclude those who work less than a specified number of hours, have not reached a certain age, or have not worked for the employer during a specified number of years.
The first statement about the maximum contribution to a SEP being the lesser of 100% of compensation or $53,000 for 2015 is incorrect, as the SEP contribution limits can change and need to be confirmed with the current IRS guidelines. Contributions to a SEP do not need to follow a vesting schedule and are immediately 100% vested, making the third statement incorrect. Lastly, the fourth statement is correct in that if a partnership contributes a flat percentage to a SEP, a partner with an earning of $100,000 would receive a $25,000 contribution if the percentage is set at 25%
Which of the following statements is FALSE? The variance increases with the magnitude of the deviations from the mean. The variance is the expected squared deviation from the mean. Two common measures of the risk of a probability distribution are its variance and standard deviation. If the return is riskless and never deviates from its mean, the variance is equal to one.
Answer:
FALSE: If the return is riskless and never deviates from its mean, the variance is equal to one.
Explanation:
If the return is riskless and never deviates from its mean, the variance is equal to ZERO.
Variance is calculated by taking the sum of square of deviations from the mean.
Deviations is calculated by subtracting the returns from their mean.
If the return is riskless and never deviates from its mean, the deviations would always be zero, hence the sum of square of them (variance) would also be zero.