Answer:
The options are given below:
A) usurping a corporate opportunity
B) self-dealing
C) competing with the corporation
D) proxy
The correct option is B. Self-dealing.
Explanation:
Self-dealing is a phenomenon whereby a fiduciary acts in his/her own best interests in a transaction rather than in the best interest of his/her clients. It is a representation of a conflict of interest and is considered an illegal act, which can lead to litigation, penalties, and termination of employment of those involved.
An example of self-dealing is given in the question above, another example is when an officer in a company would only award a contract to a vendor based on the condition that the vendor must provide an internship to the officer's son.
In summary therefore, self-dealing generally involves an individual benefiting — or attempting to benefit — from a transaction that is being executed on behalf of another party.
Kelly inc. sold $930,000 worth of goods during the year, out of which $820,000 was on credit. accounts receivable at the beginning of the year amounted to $95,000 and $115,000 at the end of the year. compute kelly's accounts receivable turnover for the year.
Answer:
The accounts receivable turnover of Kelly for the year is 7.8
Explanation:
The formula for computing the accounts receivable turnover of Kelly for the year is as:
Accounts receivable turnover = Net Credit Sales / Average Accounts receivable
where
Net credit sales amounts to $820,000
Average accounts receivable formula is as:
Average accounts receivable = Beginning Accounts receivable + Ending Accounts receivable / 2
= $95,000 + $115,000 / 2
= $210,000 / 2
= $105,000
So, putting the values above as:
Accounts receivable turnover = $820,000 / $105,000
Accounts receivable turnover = 7.80
Economic efficiency A. is a market outcome in which the marginal benefit to consumers of the last unit produced is equal to its marginal cost of production. B. is a market outcome in which the sum of consumer surplus and producer surplus is at a maximum. C. is a market outcome in which every individual is better off than they would be at any other market outcome. D. both a and b. E. all of the above. Economists define economic efficiency in this way A. to help policymakers understand the negative consequences of price ceilings. B. to help policymakers understand the negative consequences of price floors. C. to illustrate the benefits of a competitive market equilibrium. D. to help policymakers understand the negative consequences of taxes. E. all of the above.
Answer:
The answers in this would be option D. or both a and b. for the first question and option E. for the second question or all of the above.Explanation:
In Economics, economic efficiency in any market can be characterized by the most efficient market outcome that is possible given various circumstances.It implies the maximum social and economic welfare that a any market for any good or service can generate, indicated by the maximization of both consumer and producer surplus.This essentially means that both the consumers and sellers or producers in the market are equally well off and the overall market welfare is maximized.Market efficiency is also represented by the equalization of the marginal benefit or the additional benefit or utility obtained by the consumers or buyers from consuming one more or an additional unit of any particular good or service and marginal cost, which implies the cost of producing one more or an additional unit of that particular product or service.The economists usually define economic efficiency as a tool or parameter to understand and explain the negative economic consequences of any undesirable market outcome such as external government interventions in markets in the form of various market taxes and price manipulation techniques such as price ceilings or price floors. These are some of the forced external market intervention that disturb or dismantle the natural equilibrium of the market outcome which ensures the maximum social and economic welfare of all the concerned market identities,mainly consumers or buyers and sellers and producers.Janis starts a small quilting and embroidery business. She purchases a technologically advanced quilting machine and an embroidery machine for a combined $25,000. Her monthly payments on the equipment are $500, but she has only one client at this time. Janis is facing a potential:_________
A) inventory flow problem.
B) cash-flow problem.
C) competitive advantage.
D) overexpansion problem.
E) advertising issue.
Answer:
B. Cash Flow problem
Explanation:
Cash flow problem occurs in a business when the business struggles to pay back debts. It happens when a business cannot longer cover its debt payments and operational expenses. It is very common in new and growing business, because during growth period in a business, expenses are larger than receivables.
Janis in this case is facing cash flow problems as she is not getting enough clients and receivables to pay back the expenses her equipment is bringing in. The major solution to cash flow problem for short term/temporary issues is Financing.
Final answer:
Janis is likely experiencing a cash-flow problem since she has significant monthly expenses with only one client providing revenue.
Explanation:
Janis is facing a potential cash-flow problem. When starting a new business, it's important to manage expenses against revenue. Janis has invested significantly in equipment for her quilting and embroidery business but currently has only one client. With monthly payments of $500 for the equipment and limited revenue stream, there is a risk that Janis will not have enough funds to cover her expenses and business operations in the short term. This scenario is a classic example of a cash-flow problem, which means that although a business may be viable in the long term, it struggles to cover short-term liabilities.
A furniture manufacturer instituted a new strategy of producing custom-designed kitchen fittings rather than predesigned fittings. Although the amount of fittings produced by the company fell as the new plan was implemented, management was quick to point out that the custom fittings sold faster (and at a higher profit margin) than the predesigned fittings. What strategy is management using to overcome the pull of past patterns and build momentum in moving toward new patterns
Question Options:
A. benchmarking
B. celebrating early wins
C. organizational development
D. behavioral process orientation
Answer: The strategy management is using to overcome the pull of past patterns and build momentum in moving toward new patterns is known as BEHAVIORAL PROCESS ORIENTATION.
Explanation: Behavioural process orientation refers to the procedures and systems used in determining the cause of a particular behavior and strategies to reinforce or stop the behavior.
Management use an unfreezing method to overcome the draw of previous patterns and gain momentum in advancing toward new ones.
The process of introducing a new way of doing business is known as unfreezing.
The business has gone through a process of unfreezing, in which they switched from custom fitted to pre-designed fits in their marketing efforts. To transform the company into a success, the company has changed the way it sells, as well as the attitude and behavior of its personnel.
As a result, a management plan based on the unfreezing approach can be implemented to overcome difficulties and change in the direction of new patterns.
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Bill enters into a contract with Tom to supply 100 umbrellas at $10.00 each. The umbrellas were to be delivered on August 20th. On August 10th, Tom receives the umbrellas. He attempts to open one and the umbrella flies open forcefully and rips the fabric. Tom then opens each umbrella. 14 more of the umbrellas fly open and tear the fabric. Tom calls Bill and tells him what happened. Bill ships 15 more umbrellas that arrive on August 20th. Bill tests them and they are all satisfactory. Bill can sue Tom for:
Answer:
Honestly, Bill Can not sue Tom
Explanation:
Firstly I don't know the contractual agreement between Tom and Bill, but based on the fact that Tom informed Bill of the latest happenings as regards the umbrella,
Hence Bill is well Informed.
Now Bill tested his umbrella and they were OK, it doesn't rule out the fact and the possibility of 14 out 100 to be bad, this can be in a form of factory error.
Suppose that a Swiss watchmaker imports watch components from Sweden and exports watches to the United States. Also suppose the dollar depreciates, and the Swedish Krona appreciates, relative to the Swiss Franc. In this case, the Swiss watchmaker would be:
Answer:
In this case, the depreciation of the US dollar will make the Swiss watches more expensive for American customers, which will probably lower their demand.
The Swedish krona appreciation will increase the production costs of the watches, so the company will suffer twice, its sales will lower and its costs will increase.
A depreciating dollar and an appreciating Swedish Krona relative to the Swiss Franc will lead to increased costs for imported components from Sweden for the Swiss watchmaker, but at the same time, make their exports to the United States more competitive.
If the dollar depreciates and the Swedish Krona appreciates relative to the Swiss Franc, the Swiss watchmaker will likely find that the cost of importing components from Sweden becomes more expensive while the watches exported to the United States become cheaper for American buyers. This situation affects the watchmaker's profits in different ways:
Importing costs rise: Since the Swedish Krona is stronger relative to the Swiss Franc, the watchmaker will need to spend more Francs to purchase the same amount of components from Sweden.
Export revenue increases: A depreciating dollar means American consumers will find Swiss watches relatively cheaper. As a result, demand for Swiss watches may increase in the U.S. market, potentially leading to higher sales volumes.
Therefore, the real exchange rate change has a dual impact on the Swiss watchmaker's business. On one hand, it benefits from increased competitiveness in the United States market. On the other hand, it faces higher costs for its supplies from Sweden.
Just before the close of its fiscal year, a city government issues $2 million of bonds to finance the acquisition of capital assets. However, no part of the debt is repaid by year-end and no part of the debt is used to purchase capital assets. What adjusting entry is needed to prepare the city's government-wide financial statements from its fund-level financial statements
Answer:
Dr Other financing sources and uses - bonds issued 2,000,000
Cr Bonds payable - 2,000,000
Explanation:
The other financing sources and uses account includes all the transactions involving non-operating revenues/receipts and expenditures/disbursements, e.g. issuance of bonds.
Since the bonds were issued and the money was received, the city government must record the liability.
Manufacturing overhead expenses are budgeted at $2,000 per month. Included in the $2,000 are $500 of monthly depreciation expense and $200 of allocated expenses related to manufacturing insurance that was paid in February. What is the cash outflow for overhead for the month of January
Answer:
$1500
Explanation:
The reason is that the allocated expense of $200 related to insurance would be paid in February and we are considering the cash outflow the month January. Because the insurance expenses are paid one month later which would not exceed the overhead budget set. This means that the net cash effect would be $1500 because the $500 depreciation is non cash flow in nature.
Presented below are transactions related to Tom Brokaw, Inc.May 10 Purchased goods billed at $16,200 subject to cash discount terms of 2/10, n/60.11 Purchased goods billed at $12,400 subject to terms of 1/15, n/30.19 Paid invoice of May 10.24 Purchased goods billed at $10,500 subject to cash discount terms of 2/10, n/30.A) Prepare general journal entries for the transactions above under the assumption that purchases are to be recorded at net amounts after cash discounts and that discounts lost are to be treated as financial expense. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 6,578. Credit account titles are automatically indented when amount is entered. Do not indent manually.)May 10May 11May 19May 24B) Assuming no purchase or payment transactions other than those given above, prepare the adjusting entry required on May 31 if financial statements are to be prepared as of that date. (If no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Round answers to 0 decimal places, e.g. 6,578. Credit account titles are automatically indented when amount is entered. Do not indent manually.)
Answer:
May 10, purchased goods on account, terms 2/10, n/60
Dr Merchandise inventory 15,876
Cr Accounts payable 15,876
May 11, purchased goods on account, terms 1/15, n/30
Dr Merchandise inventory 12,276
Cr Accounts payable 12,276
May 19, paid May 10th invoice
Dr Accounts payable 15,876
Cr Cash 15,876
May 24, purchased goods on account, terms 2/10, n/30
Dr Merchandise inventory 10,290
Cr Accounts payable 10,290
Adjusting entry May 31 (purchase discounts lost on May 11th purchase)
Dr Purchase discounts lost 124
Cr Accounts payable 124
Since the company didn't pay the invoice in time, accounts receivable increases by $124 to $12,400 total. The lost discount is considered an expense.
Suppose a farmer in Georgia begins to grow peaches. He uses $1,000,000 in savings to purchase land, he rents equipment for $70 comma 00070,000 a year, and he pays workers $120 comma 000120,000 in wages. In return, he produces 250 comma 000250,000 baskets of peaches per year, which sell for $3.003.00 each. Suppose the interest rate on savings is 22 percent and that the farmer could otherwise have earned $40 comma 00040,000 as a shoe salesman. What is the farmer's economic profit?
Answer:
Economic profit = $300,000
Explanation:
Economic profit is the difference between the sales revenue and the total of implicit cost and explicit cost
Implicit cost are opportunity costs. For the farmer, these include
Interest on capital forfeited and salaries forfeited
= (22%× 1,000,000) + 40,000
= 260,000
Total cost = Implicit +explicit costs
= 260,000 + 260,000 +70,000 +120,000
Economic profit =750000- (260,000 +70,000 +120,000)
= $300,000
Note that the cost of land is not included because it a capital cost
Suppose that a firm has purchased some land for $1,250,000 a year ago to develop a new outlet, and the land now would sell $2,000,000. They are now evaluating the outlet and that it would cost them $12,000,000 to build the outlet, $150,000 to purchase needed equipment, $15,000 to transport and install the equipment, and $500,000 in inventory ($250,000 coming from one of their warehouses). What would you estimate its initial investment outlay to be?
Answer:
$13,915,000
Explanation:
Land-cost $1,250,000
Construction cost $12,000,000
Equipment cost(150,000+15,000) $165,000
Inventory $500,000
Total initial investment outlay $13,915,000
Please note that fair value of land is irrelevant as the land was purchased for the outlet being set up and not for any other project.
Privity of contract refers to the relationship that exists between the parties to a contract. True or False
Answer: True
Explanation: Under the doctrine of "Privity of contract" it is a common law which state that a contract can not confer any right to a person or imposed any obligation upon anyone who is not a party to the contract. only parties involved in the contract are allowed to sue to enforce rights or claims on damages.
It is "true" that Privity of contract refers to the relationship that exists between parties to a contract.
Suppose there are two independent economic factors, m1 and m2. the risk-free rate is 7%, and all stocks have independent firm-specific components with a standard deviation of 47%. portfolios a and b are both well diversified. portfolio beta on m1 beta on m2 expected return (%) a 1.6 2.2 37 b 2.1 -0.6 15
Check the file attached below for the complete question
Answer:
[tex]E_{rp} = 5\% + 5.12\% \beta_{p1} + 9.68\% \beta_{p2}[/tex]
Explanation:
Expected return on the portfolio = (Risk free rate) + Beta of portfolio 1 * (expected return on portfolio 1 - Risk free rate) + Beta of portfolio 2 * (expected return on portfolio 2 - Risk free rate)
35% = 5% + 1.7 * (Risk premium for portfolio 1) + 2.2 * (Risk premium for portfolio 2).................(1)
8% = 5% + 2.1 * (Risk premium for portfolio 1 - 0.8) * (Risk premium for portfolio 2).................(2)
Multiply eq. by 2.75 and add in eqn. 1
35% + 22% = 5% + 2.75 * 5% + 1.7 * Risk premium for portfolio 1 + 5.775 * (Risk premium for portfolio 1) + 0
57% = 18.75% + 7.475 * (Risk premium for portfolio 1 )
Risk premium for portfolio 1 = 5.12%
Put value of( risk premium for portfolio 1 ) in equation 1
35% = 5% + 1.7 * 5.12% + 2.2 * (Risk premium for portfolio 2 )
35% = 13.70% + 2.2 * (Risk premium for portfolio 2 )
Risk premium for portfolio 2 = (21.30%) / 2.2
Risk premium for portfolio 2 = 9.68%
Expected return–beta relationship E(rp) = 5% + 5.12% * (Beta of Portfolio 1) + 9.68% * (Beta of Portfolio 2)
[tex]E_{rp} = 5\% + 5.12\% \beta_{p1} + 9.68\% \beta_{p2}[/tex]
Given the pay rate, hours worked, tax deductions, and social security deduction, determine the gross earnings, group health insurance (assuming 15% of gross earnings), pension deduction (assuming 6.5% of gross earnings), total deductions, and net pay. This person worked 40 hours at a $7.50 rate.
Answer:
$235.5
Explanation:
Total Earnings= 40 hours X $7.50 = $300 (Gross earnings)
Health insurance sum = Health insurance % X Gross earnings=15/100 X $300= $45
Pension Deduction Sum= Pension % X Gross earnings = 6.5 /100 X $300 = $19.5
From above calculation, the total deduction is $45 + $19.5 = $64.5
From the above calculation, the new pay is = $300 - $64.5 = $235.5
The main goal of auditing internal control is Group of answer choices To allow the auditor to fix any internal control deficiencies. To form an opinion on the ability of internal controls to prevent fraud. To assure management that internal control is preventing all material misstatements on the financial statements. To evaluate the effectiveness of controls over all relevant financial statement disclosures in the financial statements.
Answer:
To evaluate the effectiveness of controls over all relevant financial statement disclosures in the financial statements.
Explanation:
In Accounting, an internal control is a mechanism, procedure, rule or policy designed by management to secure assets, promote efficiency, ensure accountability and prevent fraudulent behavior in an organization.
The main goal of auditing internal control is to evaluate the effectiveness of controls over all relevant financial statement disclosures in the financial statements.
Barry's Sport Shop calls Champs Tee Shirt Company to order 200 designer tee shirts at $2 per shirt. The next day, Barry decides he can easily sell 100 more. Before the order is filled, he calls to change the order to 300 tee shirts. Champs sends 200. Can Barry force Champs to send the additional 100?
Answer: No.
Explanation: Based on the initial agreement made between Champs Tee shirt company and Barry's sport shop, which was the de sealed for the purchase of 200 shirts at a price of 100. Even though additional demand of 100 t-shirts was made, Champs decided to send 200. Barry will be unable to force Champs to send the additional 100 because the transaction was made and agreed on verbally without any written. or signed document which could be tendered as evidence when trying to force Champs to send the additional 100
Whether Barry can force Champs to send an additional 100 t-shirts depends on the terms of the agreement and if Champs accepted the change to the original order. Without acceptance or a contract that allows modifications, Barry may not compel Champs to fulfill the new quantity.
Explanation:The question involves a contractual scenario where Barry's Sport Shop placed an order with Champs Tee Shirt Company and later attempted to modify that order. When the original order for 200 designer tee shirts was increased to 300 tee shirts before the order was filled, there is an implication of an attempted contract modification. Legally, whether Barry can force Champs to send the additional 100 tee shirts depends on the terms of the agreement between the two parties and the presence of a valid contract modification. If Champs accepted the modified order, then Barry may have legal grounds to enforce the delivery of the additional tee shirts. If there was no acceptance communicated or if the original contract does not allow for such modifications, Barry may not be able to compel Champs to comply with the new request.
What are the disadvantages of a contract for deed? Write at least 2
Answer:
Explanation:
A Contract for Deed refers to the tool which allows buyers who do not qualify for conventional lending, or buyers who are in need of a faster financing option to purchase a property.
The seller will still retain the legal rights to the property until the balance of the payment is made. The legal rights are only transferred after the buyer has made the final payment.
Disadvantages Include:
To the seller, clearing the title may take time and money if the buyer defaults on the contract.The seller can decide to foreclose on the property if the buyer defaults, and the buyer has no recourse against the seller.An economist claims that average weekly food expenditure of households in city 1 is more than that of households in city 2. she surveys 35 households in city 1 and obtains an average weekly food expenditure of $164. a sample of 30 households in city 2 yields an average weekly expenditure of $159. historical data reveals that the population standard deviation for city 1 and city 2 are $12.50 and $9.25, respectively. to test the economist's claim, the competing hypotheses should be formulated as
Question:The question is incomplete. Find below the options and the answers.
1. To test the economist’s claim, the competing hypotheses should be formulated as
Select one:
a. H0:μ1-μ2>0 versus Ha:μ1-μ2≤0
b. H0:μ1-μ2≥0 versus Ha:μ1-μ2<0
c. H0:μ1-μ2≤0 versus Ha:μ1-μ2>0
2.
The standard error of x(1)bar- x(2) bar is
Select one:
a. 0.82
b. 2.70
c. 12.5
d. 9.25
3. The value of the test statistics is
Select one:
a. 0.40
b. 1.85
c. 0.54
d. 27.78
4. The p-value of the test is
Select one:
a. 0.34
b. 0.03
c. 0.29
d. 0.08
5. At α=0.05,
Select one:
a. We can reject H(0) in favor of H(a)
b. We cannot reject H(0)
c. We can conclude that average weekly food expenditures in City 1 is less than that of City 2
Answer:
1. The correct answer is option (a) H0:μ1-μ2>0 versus Ha:μ1-μ2≤0
2. The correct answer is option b. 2.70
3. The correct answer is option b. 1.85
4. The correct answer is option b. 0.03
5. The correct answer is option c. We can conclude that average weekly food expenditures in City 1 is less than that of City 2
Explanation:
Given Data:
City 1 City 2
x1(bar)=164 x2 (bar) =159
σ(1)=12.5 σ(2) =9.25
n(1)=35 n2=30
2. The standard error of x(1)bar- x(2) bar is calculated using the formula;
Standard error = √σ₁² +σ₂² /n₁+n₂
= √(12.5²+9.25²/35 +30)
= 2.7
3. The test statistics is calculated using the formula;
z = x(1)bar- x(2)/Standard error
= 164 - 159/2.7
= 5/2.7
= 1.85
4. using the normal standard table, the p- value at z = 1.85 is 0.03
5. We can conclude that average weekly food expenditures in City 1 is less than that of City 2
The null hypothesis is that there is no difference in average weekly food expenditures between the two cities (H_{0}: μ_{1} - μ_{2} g equal to or less than), and the alternative hypothesis is that city 1 has a higher average than city 2 (H_{1}:
μ_{1} - μ_{2} greater than$n$0).
To test the economist's claim that the average weekly food expenditure of households in city 1 is more than that of households in city 2, we need to formulate the null and alternative hypotheses for a two-tailed hypothesis test.
The null hypothesis (H_{0}) is that there is no difference in the average weekly food expenditures between the two cities, while the alternative hypothesis (H_{1}) suggests that the average weekly food expenditure of city 1 is indeed higher than that of city 2.
The null hypothesis can be mathematically represented as H_{0}: μ_{1} - μ_{2} g equal to or less than, and the alternative hypothesis can be represented as H_{1}: μ_{1} -μ_{2} greater than$n$0, where μ_{1} and μ_{2} are the population means of city 1 and city 2 respectively.
Given the sample means and known population standard deviations, a z-test for the difference in means would be appropriate to test these hypotheses.
Doris recently started her position at Monro Company. The company uses the dollar-value LIFO inventory method. On her first day at work, Doris was asked to calculate the cost index for a new inventory layer. The company's records reveal that the cost in terms of the base year was $50,000 and the cost in terms of the layer year was $100,000. What is the cost index for the new layer
Answer
2
Explanation:
Cost index in dollar - value LIFO method is used to determine the change in prices since the beginning of he base year by comparing the year end inventory to the base layer cost.
The extended cost of the ending inventory at the most recent price is divided by the cost of the ending inventory at the base year price.
Workings
Cost in term of base layer = $50,000
Cost in term of the layer layer $100,000
Cost index = 100000/50000 = 2
To calculate the cost index for a new inventory layer in the dollar-value LIFO method, divide the layer year cost by the base year cost and multiply by 100. Here, the cost index is found to be 200.
The question asks about calculating the cost index for a new inventory layer using the dollar-value LIFO inventory method. To find the cost index for the new layer, we divide the cost in terms of the layer year by the cost in terms of the base year and then multiply by 100. Given the cost in the base year is $50,000 and the cost in the layer year is $100,000, the calculation would be ($100,000 / $50,000) × 100 = 200. Therefore, the cost index for the new layer is 200.
Delta Technologies, Inc., operates in a perfectly competitive market and has experienced economies of scale because of advanced technologies that have allowed it to make production more efficient. Delta Technologies, Inc., is in which type of industry
Answer: Decreasing cost industry
Explanation:
A decreasing‐cost industry is an industry where the costs decrease as there is expansion in the industry. In this situation, the industry's long run supply curve will slope downward because as there is more production of output, minimum average cost of production for every firm decreases with the decrease in costs.
A decreasing cost industry is characterized by the lower costs and prices due to economies of scale and technological advancement.
Final answer:
Delta Technologies, Inc., which operates in a perfectly competitive market and benefits from economies of scale thanks to technological advancements, is in a decreasing cost industry. These economies of scale lead to lower costs per unit as production increases, which is typical of high-tech industries.
Explanation:
Delta Technologies, Inc. operates in a perfectly competitive market and has benefited from economies of scale due to advanced technologies enhancing production efficiency. Consequently, as Delta Technologies increases its output, it experiences a reduction in the cost per unit, which is a hallmark feature of economies of scale. This concept means that as the scale of production expands, the average costs of production decline, at least to a certain point.
Industries that undergo economies of scale, like Delta Technologies, are often referred to as decreasing cost industries. In such industries, advancements in technology or increased employee education lead to lower average total costs across the industry. High-tech industries are a prime example of a decreasing cost market, as they tend to continually benefit from technological improvements that lower costs as the market grows.
Becky’s comprehensive major medical health insurance plan at work has a deductible of $850. The policy pays 80 percent of any amount above the deductible. While on a hiking trip, Becky contracted a rare bacterial disease. Her medical costs for treatment, including medicines, tests, and a six-day hospital stay, totaled $9,093. A friend told her that she would have paid less if she had a policy with a stop-loss feature that capped her out-of-pocket expenses at $4,000.a.Calculate the total amount Becky would pay under the current policy.b.Would a $4,000 stop-loss provision on her current policy have reduced Becky's cost for this illness?
Under her current insurance policy, Becky would pay $2,498.60 for her illness. A stop-loss provision that capped out-of-pocket costs at $4,000 would not have reduced her costs for this illness because that amount is higher than what she ended up paying.
Explanation:First, to calculate how much Becky would pay with her current insurance plan, subtract her deductible from her medical expenses. The costs above the deductible are $9,093 - $850 = $8,243. Her insurance will cover 80% of this, and she will pay for the other 20%. So, she will pay $8,243 * 20% = $1,648.60 plus her deductible. Therefore, Becky's total out-of-pocket expenses would be $1,648.60 + $850 = $2,498.60 under her current plan.
If Becky had a policy with a stop-loss provision that capped out-of-pocket costs at $4,000, her costs would be lower only if her expenses exceeded this amount. Since Becky's total cost under her current policy is $2,498.60, which is less than the $4,000 cap, the stop-loss provision wouldn't decrease her costs for this illness.
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A national survey conducted in 2011 among a simple random sample of 1,507 adults shows that 56% of americans think the civil war is still relevant to american politics and political life. conduct a hypothesis test at significance level α=0.05 to determine whether these data provide strong evidence that a majority of american adults think the civil war is still relevant.
Answer:
Null : x = 0.56 ; Alternate : x < 0.56
t = (x - 0.56) / (s / √n) : If < tabulated t at α =0.05 , null hypothesis accepted
If t > tabulated t at α =0.05 , alternate hypothesis is accepted
Explanation:
Hypothesis Testing is used to test the statistical validity of a statement. Null Hypothesis is the neutral hypothesis, signifying equality to the tested value. Alternate Hypothesis is the contradictory hypothesis, signifying deviation from the tested value.
To test 'Proportion of people giving importance to civil rights in american political life' : Let these proportion be = x
Null Hypothesis (H0) : x = 56% = 0.56
Alternate Hypothesis (H1) : x < 56 % , i.e x < 0.56
't' statistic is calculated based on sample : ( x' - u ) / (s / √n)
where : x' = sample mean , u = population hypothesised mean = 0.56 , s = sample standard deviation , n = sample size
If this calculated 't' < tabulated 't' at significance level α =0.05 ; null hypothesis is accepted. It implies average people thinking as mentioned = 56 % (majority)
If this calculated 't' > tabulated 't' at significance level α =0.05 ; alternate hypothesis is accepted. It implies average people thinking as mentioned < 56% (not majority)
Suppose that there is a flat 20% income tax rate, but otherwise the US tax law is the same as that in place. You make $40,000 per year. If your employer pays for your $4,000 per year insurance policy and deducts the expense from your salary, your after-tax, after-insurance take-home pay is ________. If instead you pay for your $4,000 per year policy directly, your after-tax, after-insurance take-home pay is _______.
Answer:
The answers would be $28,000 and $32,000 respectively.Explanation:
Considering that the tax rate is 20% or 0.2 and the annual income of $40,000,the after tax annual income would be=[tex]40,000-(0.2\times40,000)=40,000-8000[/tex]=$32,000Now,the company deducts $4000 from the after tax annual income as insurance expense.Therefore,after-tax and after-insurance annual take home income=[tex](32,000-4000)[/tex]=$28,000If we consider that the insurance expense of $4000 is paid personally by the employee,then the after-tax and after-insurance annual income would be only $32,000 as the insurance expense is paid separately and not directly deducted from annual after tax income.
T/F a house with a replacement value of $110,000 is currently insured for $90,000. The house has suffered a $15,000 loss from windstorm damage. The insurance company will pay the full $15,000 less the deductible.
Answer:
TRUE
Explanation:
Replacement value or costs describes the amount an insurance company will pay if the property is insured, in the event that the insured property is stolen or destroyed. It is the amount of money it will cost to replace a property or asset. In this scenario, since the cost of damage is at an amount ($15000) lower than the amount ($90,000) that the property was insured for, the insurance company will pay the full amount for the damage less the deductibles.
A company issues $5,000.00 bonuses at the end of the year to all employees who earn less than $100,000. Salary and bonus are both defined as double data types. Which of the following selection statements would assign the correct amount to bonus?
a. if (salary bonus == $5000;b. if (salary bonus = 5000; --- Correctc. if (salary bonus = 5000;d. if (salary bonus = $5000;
Answer: C.
If (salary < 100000)
Bonus = 5000;
Explanation:
Salaries attached to each employee are already in the data. Since only workers earns salary less than 100000 are eligible for the bonus, the if statement checks the salary amount assigned to each worker, if the salary is greater than or equal to 100,000 , the loop terminates and the second line isn't executed. However, if the worker's salary is less than 100,000, the second line is executed which is to assign a 5000 bonus to the worker's earning. The dollar sign should be excluded as it could alter the data type. And the == sign is used to test for equality and not assignment.
Renee contracts with Scott to pay him $25,000 for his work on Renee’s new album "Hip Pop." After Scott performs, they sign an accord, in which Renee promises to pay him $21,000 within thirty days instead of $25,000 later. But she does not pay.
Scott can sue Renee on:
A) the accord only.
B) the original obligation only.
C) the accord or the original obligation.
D) neither the accord nor the original obligation
Answer:
C) the accord or the original obligation.
Explanation:
Based on the scenario being described within the question it can be said that Scott can sue Renee on the accord or the original obligation. This is mainly due to the fact that Renee did not pay the newer arrangement within the three days, and therefore owes Scott the total amount of $25,000 as was agreed by both in the original contract, but since Scott also agreed on the $21,000 he can decide which he would want to sue for.
For the purpose of calculating GDP, investment is spending on
a. stocks, bonds, and other financial assets.
b. real estate and financial assets such as stocks and bonds.
c. capital equipment, inventories, and structures, including household purchases of new housing.
d. capital equipment, inventories, and structures, excluding household purchases of new housing.
Answer:
c. capital equipment, inventories, and structures, including household purchases of new housing.
Explanation:
Gross domestic product is the sum of all final goods and services produced in an economy within a given period which is usually a year.
GDP calculated using the expenditure approach:
Consumption spending + Investment spending by businesses + Government Spending + Net Export
Consumption spending is the amount spent by households on durable and non durable goods.
Investment spending is spending on capital equipment, inventories, and structures, including household purchases of new housing.
Government spending includes spending by government or an agency of the government.
Net Export is export less import.
I hope my answer helps you
GDP investment is the expenditure on capital equipment, inventories, and structures, including household purchases of new housing. It emphasizes tangible assets that contribute to productivity, not just the transfer of ownership of financial assets.
Explanation:For the purpose of calculating GDP, investment is best defined as spending on capital equipment, inventories, and structures, including household purchases of new housing. This definition (option c) emphasizes the tangible assets that contribute to productivity, as opposed to financial transactions such as the purchase of stocks and bonds, which do not directly influence productive output. For example, when a company purchases new machinery or a family buys a newly built home, these are counted as investments because they represent new additions to the country's productive capacity.
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In addition to providing home mortgages, large commercial banks have specialized in providing short-term funds to mortgage banking companies in order to enable them to originate mortgage loans and hold the loans until the mortgage banking company can sell them in the secondary market. This type of financing is commonly referred to as___
Answer:
warehousing
Explanation:Warehouse financing as a type of financing is the process whereby manufacturers or producers take loan and the collateral for the loan taken are their goods/ items. The collateral which is the goods or commodities are held in high regards or trust by a third party who serves as a trustee holds the goods on the lender's behalf. s. an approved agent can also be used.
Warehouse financing is importantly necessary as it provides manufacturers with better and favorable loan terms , cost effective and an adequate repayment plan also as a merit to its use.
The type of financing large commercial banks provide to mortgage companies to allow them to originate and hold the loans until they can be sold off in the secondary market is called warehouse lending. This practice of securitizing loans and selling them in the secondary market brought both opportunities and challenges to financial markets.
Explanation:In addition to providing home mortgages, large commercial banks also specialize in providing financing known as warehouse lending to mortgage banking companies. These short-term funds enable mortgage companies to originate loans and hold them until they can be sold off in the secondary market.
The secondary market is a market where banks and other financial institutions sell their loans. This system came into prominence during the 1990s and early 2000s when changes in finance and banking laws allowed institutions to securitize their mortgage loans, or turn them into bonds, and sell them off. This meant that banks could separate their financial interests from the ability of the borrower to repay, thus increasing the attractiveness of higher-risk loans.
This process of securitization let the lenders off-load the mortgage risk to investors. Yet, it also fostered the creation of subprime loans, as banks found they could afford to make risky loans, sell them, and avoid the financial consequences when borrowers failed to repay.
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Using the payoff matrix, and assuming no collusion between X and Y, what is the likely pricing outcome? A. Both firms will set the price at $35. B. Both firms will set the price at $40. C. Firm X will charge $35 and firm Y will charge $40. D. Firm X will charge $40 and firm Y will charge $35. Price collusion is mutually profitable because each firm achieves A. higher profits. B. increased sales. C. lower costs. D. higher productivity.
Answer:
A- Both firms will set the price at $35
Explanation:
When there is no collusion,
When Y charges $40, X's best strategy is to charge $35 since payoff is higher ($59 > $57).
When Y charges $35, X's best strategy is to charge $35 since payoff is higher ($55 > $50).
When X charges $40, Y's best strategy is to charge $35 since payoff is higher ($69 > $60).
When X charges $35, Y's best strategy is to charge $35 since payoff is higher ($58 > $59).
Therefore Nash equilibrium is: ($35, $35).
Pool Line is the manufacturer of a pool cleaning system that has been called by the pool construction industry, "the miracle we have waited a lifetime for." The cleaning system is very effective and recommended by all consumer magazines. The result is that 93 percent of all new pools have the system, and 94 percent of all pool owners buying replacement systems choose Pool Line. The relevant product market is:
Answer:
pool cleaning systems.
Explanation:
Product market refers to the markets where a final product or service can be sold, e.g. financial services market is where banks, investment firms and others offer their banking, investment and trading services.
In this case, the product market for Pool Line is the market for pool cleaning systems which includes both pool constructors and owners of existing pools as customers.
The subject of this question is the relevant product market for Pool Line's pool cleaning system, which suggests the pool maintenance market where the company has achieved a significant market share and industry influence.
Explanation:The relevant product market in the context of the given information about Pool Line, the manufacturer of a highly effective pool cleaning system, refers to the market segment that focuses on pool cleaning systems. This market encompasses all the products and services used for the maintenance and cleaning of swimming pools. Based on the provided details, Pool Line has a significant market share, as indicated by the high percentage of new and replacement pool cleaning systems they sell.
These figures show the company's strong position and influence within the pool cleaning industry, and it may be inferred that Pool Line essentially represents the standard for such systems in the market. Moreover, the high level of recommendation by consumer magazines reinforces the company's standing as a leading provider in the pool maintenance market.