Answer: Yes, because it is a contract whose terms prevent possible performance within one year
Explanation:
The Statute of Fraud mandates that certain contracts need to be written down. These contracts include the sale of land, amounts involving more than $500 and contracts that have a timeframe of over a year.
Melinda entered into a contract with terms that have to be fulfilled in more than a year. It is therefore under the Statute of Frauds.
To download your presentation as pictures, choose this option. Download a Copy Download as Images Download as ODP Download as PDF Question 4(Multiple Choice Worth 5 points) (04.07 LC) What is the name of the spelling checker in PowerPoint Online that can be used to check the spelling in the entire presentation? Check Slide Proof Check Review Slide Slide Check Question 5(Multiple Choice Worth 5 points) (04.07 MC) Ava is at her first job interview, and the interviewer asks her a difficult question she hasn't prepared to answer. What should Ava do? Just start talking. She'll eventually get to an answer. Ask the interviewer for an easier question. Take a deep breath and gather her thoughts. Tell an unrelated story that makes her look smart. You must check the box below prior to submitting your exam! Check this box to indicate you are ready to submit your exam FDK71.10 Previous QuestionNext Question
Answer: Its choose a pdf
Explanation:
when you download a pic it goes to a pdf
Answer:
download a pdf
Explanation:
(b) Store keeping
(c) Store keeper
(d) Inspection
(e) receiving
QUESTION TWO.
List down contents of GRN
Answer:
See Below
QUESTION TWO.
contents of GRN
Explanation:
GRN stands for goods received note. GRN is prepared by the purchasing entity to confirm receipt of goods ordered. The store's department prepares the GRN in multiple copies, confirming that the goods received are of the right quantity as what was ordered. One the copies is sent to the accounts department.
The components of A good received note include
1. The name of the supplier
2. The type or types of products delivered
3. Quantities delivered of each product
4. Date and time of delivery
5. Name and signature of the supplier
6. Name and signature of the store's representative
A company has a beta of 1.8, pre-tax cost of debt of 5.3% and an effective corporate tax rate of 28%. 34% of its capital structure is debt and the rest is equity. The current risk-free rate is 0.7% and the expected market risk premium is 5.8%. What is this company's weighted average cost of capital
Answer:
the weighted average cost of capital is 8.65%
Explanation:
The computation of the weighted average cost of capital is as follows:
But before that cost of equity could be determined which is
As we know that
Cost of Equity = Risk-free Rate + [Beta × Market risk premium]
= 0.7% + [1.8 × 5.8%]
= 11.14%
Now the weighted average cost of capital is
= Pre tax cost of debt × (1 - tax rate) × weight of debt + cost of equity × weight of equity
= 5.3% × (1 - 0.28) × 0.34 + 11.14% × (1 - 0.34)
= 1.30% + 7.35%
= 8.65%
Hence, the weighted average cost of capital is 8.65%
Vaughn Manufacturing has fixed costs of $30000 per year. Its warehouse sells wine with variable costs of 90% of its unit selling price. How much in sales does Vaughn need to break even per year
Answer:
$300,000
Explanation:
Calculation for How much in sales does Vaughn need to break even per year
Using this formula
Sales needed to break even=Fixed cost/(1-Unit selling price Variable costs)
Let plug in the formula
Sales needed to break even=$30,000 / (1 -.9)
Sales needed to break even=$30,000 / (0.1)
Sales needed to break even=$300,000
Therefore How much in sales does Vaughn need to break even per year will be $300,000
Sharon made a $160,000 interest-free loan to her son, Todd, who used the money to pay for his masters at Baruch. Todd’s only sources of income were $25,000 from a florist business he runs part time and $490 of interest on his checking account. The relevant Federal interest rate was 5%. Based on the above information:_____
a. Todd's business net profit will be reducod by $3,000 (0S x $60,000) of interest expense.
b. Sharon must recognize $3,000 (0.05 x $60,000) of imputed interest income on the below- market loan.
c. Todd's gross income must be increased by the $3,000 (05 × $60.000) imputed interest income on the below market loan.
d. Sharon does not recognize any imputed interest income and Todd does not recognize any imputed interest expense.
e. None of the above is correet.
Answer: Sharon does not recognize any imputed interest income and Todd does not recognize any imputed interest expense.
Explanation:
Based on the information that is provided in the question, we should note that Sharon does not recognize any imputed interest income and Todd does not recognize any imputed interest expense.
We should note that interest is recorded in the book of account if it's receivable or if it's payable for accounting purpose.
Maria, a new assistant manager, expects her employees to report to her every week with a detailed productivity report. Maria's attitude best reflects ______. Group of answer choices The Halo Effect Theory X Theory Z Theory Y The Hawthorne Effect
Answer:
The Halo Effect
Explanation:
You receive results from the team engagement survey. According to the survey, your team members feel that the feedback they provide to management is not being taken into consideration quickly enough. Assuming all options are possible, what would you be most and least likely to do?
Answer: Most: Discuss the issue with your team. Ask team members for suggestions on how to better incorporate their
Least: Talk to your peers who received similar feedback and brainstorm together on how to better engage the team.
Explanation:
You probably wish you could get more input from your employees if you're like most managers. Quality feedback will help all of you work together, improve your style of leadership, and make sure you catch problems before they become big issues.
While the members of your team must be the ones to come up with the ideas, there are many things you can do to make it better and more productive to produce them.
Your methodology offers an example.
Although the cost-plus method approach to product pricing may be used by management as a general guidance, when are some examples of other factors that managers should also consider in setting product prices?
Answer: value-based pricing.
Explanation:
In its literal sense, value-based pricing means basing pricing on the advantages of the product perceived by the consumer rather than on the exact cost of product creation. A painting, for example, may be priced as much more than canvas and paint prices: in fact, the price depends a lot on who the painter is.
Tawstir comany corporation has 400 obsolte tv monitor that they carry in their inventory at the intotal cost of 576000. if these monitor are upgrade at a total cost of 170000 they can be sold for a total of 230000. As an alternative, the computers can be sold in their present condition for $40,000.
Required:
What is the net advantage or disadvantage to the company from upgrading the computers rather than selling them in their present condition?
Answer:
the net advantage of upgrading is $20,000
Explanation:
The calculation of the net advantage or disadvantage is given below:
After upgrading Sales value $230,000
Less: present sales value -$40,000
Upgrading Incremental advantage $190,000
Less: upgrading total cost ($170,000)
Net advantage of upgrading $20,000
Therefore, the net advantage of upgrading is $20,000
Drew gets married in January of 2019 and provides support for his stepdaughter, Melissa, who is 26 years old. Melissa does not earn any income in 2019 since she is a full-time graduate student. Which of the following is true regarding Melissa as a qualifying relative
a. Melissa qualifies based on her age of 26
b. Melissa qualifies based on her earned income
c. Melissa qualified because there is no age limit on qualifying relatives
d. Both B and C are correct
Answer: D. Both B and C are correct
Explanation:
Based on the scenario and the information provided in the question, we should note that Melissa qualified as a qualifying rekative because there is no age limit on qualifying relatives.
Also, since Melissa doesn't earn any income in 2019 because she's a full time graduate student, Melissa qualifies based on her earned income.
Therefore, option B and C are correct.
Manufacturing overhead was estimated to be $400,000 for the year along with 20,000 direct labor hours. Actual manufacturing overhead was $415,000, actual labor hours were 21,000. The predetermined manufacturing overhead rate per direct labor hour would be:
Answer:
The predetermined manufacturing overhead rate per direct labor hour is $20
Explanation:
The computation of the predetermined manufacturing overhead rate per direct labor hour is shown below:
= Estimated manufacturing overhead ÷ direct labors hours
= $400,000 ÷ 20,000 direct labor hours
= $20
hence, the predetermined manufacturing overhead rate per direct labor hour is $20
We simply applied the above formula so that the correct value could come
And, the same is to be considered
What is the term for the price Kelley blue book considered to be the correct amount expect to pay for a car
Answer:
book value
Explanation:
a p e x
The first step in starting your own business is:
Answer:
go to an investor to find a building
Explanation:
Company is a popular car-wash operation that measures its activity in terms of number of cars washed. Last month, the budgeted level of activity was 1,240 cars washed and the actual level of activity was 1,230 cars washed. The cost formula for the washing expenses is $4.80 per car washed plus $26,000 per month. The actual washing expense was $25,000.
Required:
What was the spending variance for the washing expenses last month?
Answer: $6,904 favorable
Explanation:
Cost formula is $4.80 per car + $26,000.
1,230 cars were actually washed last month.
Budget for washing expense = (4.80 * 1,230) + 26,000
= $31,904
Actual washing expense = $25,000
Variance = Budgeted - Actual
= 31,904 - 25,000
= $6,904 favorable
Would it be wise for a young company that is growing quickly but still hasn’t achieved profitability to attempt to issue bonds as a way to expand its working capital?
Answer:
It would not be wise for the young company to attempt to issue a bond as a way of expanding its capital. This is because, the company still has to be able to find a balance between its expenditure and income before it can think towards expansion. If this is not met, they might run into series of financial debts while trying to expand.
Explanation:
Suppose the real rate is 4.5 percent and the inflation rate is 6.1 percent. What rate would you expect to see on a Treasury bill
Answer:
10.87%
Explanation:
real rate of return = [(1 + nominal rate of return) / (1 + inflation rate)] - 1
real rate of return = 4.5%inflation rate = 6.1%1 + 4.5% = [(1 + nominal rate of return) / (1 + 6.1%)]
1.045 x 1.061 = 1 + nominal rate of return
1.108745 = 1 + nominal rate of return
0.108745 = nominal rate of return
"Uterine family" is the phrase Margery Wolf uses to describe the family a woman makes by having children though they are not officially recognized as members of the same lineage.
a. True
b. False
Answer: b. False
Explanation:
According to Wolf (1994, 226), "the true family of a woman in the Chinese kinship system includes her uterine family, which includes the mother of the woman and the children of her mother."
In her book, Wolf tries to explain the advantages of having uterine families in the Chinese system of kinship, explaining that both the uterine family of the maternal parent of a woman and her individual uterine relationships are produced through child delivery, becoming crucial factors that contribute to the fulfillment of a woman in her life.
Monthly sales are $530,000. Warranty costs are estimated at 5% of monthly sales. Warranties are honored with replacement products. No defective products are returned during the month. At the end of the month, the company should record a journal entry with a credit to:
Answer:
Credit to Estimated Warranty Payable for $26,500
Explanation:
Based on the information given we were told that the Monthly sales were the amount of $530,000 in which the Warranty costs are estimated at 5% of the monthly sales which means that at the end of the month, the company should record a journal entry with a credit to: Estimated Warranty Payable for the amount of $26,500 which is calculated as:
Estimated Warranty Payable=$530,000 × 5%
Estimated Warranty Payable = $26,500
Suppose a food pantry received a donation and allowed volunteers to vote on how the funds were to be spent. Three options were provided, with the donation only covering the cost of one project. The projects included improvements to the building, additional purchases of food, and purchasing a vehicle for food delivery. The majority of volunteers voted for purchasing a vehicle for food delivery with building improvements coming in second. Since only one project could be funded, what is the opportunity cost of the decision to purchase a vehicle
Answer:
improvements to the building,
Explanation:
Opportunity cost is the foregone advantage of not setting certain options in decision making. When a particular option is preferred over others, then benefit from the other options not selected are forfeited. The forfeited benefits represent the opportunity cost.
The value of opportunity cost is equated to the value of the next best alternative. Where there were more than two alternatives available, the next best alternative from the chosen option becomes the opportunity cost. In this case, improvement to the building was voted the second preferred option; hence it becomes the opportunity cost.
In the equation of exchange, the average number of times a dollar is used to purchase a final good or service is the __________ of money.
Answer:
Explanation:
Exchange
Explain in your own words why in the short run a firm may continue to produce even at a loss provided the price is more than the average variable cost. Also, provide an example of when a firm might face this decision.
Answer: The firms are faced with two options, the first is covering variable cost, which they can consider in a short run, which they can pay some of their fixed cost. If they shut down completely they would pay all their fixed costs.
Explanation:
The firms are faced with two options, the first is covering variable cost, which they can consider in a short run, which they can pay some of their fixed cost. Alternatively, if they shut down completely they would pay all their fixed costs. As long as the operating cost is not much, they would keep working.
Kohl Company lent $49,587 to Hemingway, Inc, accepting Hemingway's 2-year, $60,000, zero-interest-bearing note. The implied interest rate is 10%. Prepare Kohl's journal entries for the initial transaction, recognition of interest each year, and the collection of $60,000 at maturity.
Answer:
Date Account Titles Debit Credit
Notes Receivable $60,000
Discount on Notes Receivable $10,413
Cash $49,587
Discount on Notes Receivable $4,959
Interest Revenue $4,959
Discount on Notes Receivable $5,454
($49587+$4959)*10%
Interest Revenue $5,454
Cash $60,000
Notes Receivable $60,000
A system of performance measures, including nonfinancial measures, used to assess company and division manager performance is: _________
a. Hurdle rate.
b. Return on investment.
c. Balanced scorecard.
d. Residual income.
e. Investment turnover.
Answer:
C. Balanced scorecard
Explanation:
Most company assesses the performance of its division manager through a non financial measurement. This process is called balanced scorecard. It measures how well these managers have performed overtime without any financial measurement.
This system enables a manager to give account of how well he or she has performed during the course of carrying out his or her duties.
Suppose a public good that is worth $1 billion is not produced by the market, and so the government provides it, but at a cost of $3 billion. This attempt to correct a market failure has:
Answer: resulted in a government failure since use of resources is now less efficient
Explanation:
Market failure is an economic situation when there is an inefficient distribution of goods and services which occurs in the free market. The main cause of market failure is disequilibrium as a result of distortion on the market.
When a public good that is worth $1 billion is not produced by the market, and so the government provides it, but at a cost of $3 billion, this attempt to correct a market failure has resulted in a government failure since use of resources is now less efficient. This is because the cost of the public good is more than its worth. This signifies wastage and results in government failure.
Twenty percent of all businesses in the United States are corporations, and they account for 80% of the total business dollars generated. True False
Answer:
True
Explanation:
The Manhattan Shoe Co. maintains an inventory of shoes in a warehouse they rent locally. The monthly demand for shoes is 930 units. The shoes cost $35 per pair and the replenishment order is placed when the inventory reaches a certain level. The cost of placing the replenishment order is estimated to be $21. The annual inventory holding cost for each pair of shoes is 28% of the cost of the item.
a. Based on the above data, calculate the EOQ for the All Star Shoe Co.
b. Based on the above data, calculate the corresponding total cost purchase lot (TCp).
c. How valid are the assumptions for the simple EOQ model?
Answer:
a) EOQ = √[(2 x S x D) / H]
S = order cost = $21D = annual demand = 930 x 12 = 11,160H = annual holding cost = $35 x 28% = $9.80EOQ = √[(2 x $21 x 11,160) / $9.80] = 218.7 ≈ 219 shoes
b) total ordering costs = (11,160 / 219) x $21 = $1,070.14
total holding costs = $9.80 x (219 / 2) = $1,073.10
total purchases = $35 x 11,160 = $390,600
total inventory costs = $392,743.24
c) The EOQ model faces two main problems:
first, it assumes that the demand is constant and can be predicted with 100% accuracy and that is not usually the case. Also, demand might be seasonal which makes the EOQ model useless. second, it assumes costs are constant and they are generally not, e.g. the price of shoes might change
How accurately can managers plan for future human resources needs?
Answer:
Planning for future human resources needs is not an exact science. There are many contributing factorsthat can alter the plan. Planners have to account for promotions, retirements and employees leaving aswell as how sales affect the number of people needed.
credits to coursehero.
What is the term used to describe the reduction of the balance owed on a loan with each payment made over a period of time?
a. a buy-down.
b. shared-appreciation.
c. prepaid interest.
d. amortization.
e. a rate cap.
Answer:
The term used to describe the reduction of the balance owed on a loan with each payment made over a period of time is:
d. amortization.
Explanation:
Amortization of a loan is the gradual reduction of the balance owed on a loan because payments are being made over a period of time. Each payment is, therefore, a reduction of the borrowed fund. This gradual reduction through periodic payments is called amortization of the borrowed fund. Loan amortization, therefore, implies the spreading out of the loan payments over time. It is not the same as asset amortization, which is a kind of depreciation.
Tom Cruise Lines Inc. issued bonds five years ago at $1,000 per bond. These bonds had a 30-year life when issued and the annual interest payment was then 14 percent. This return was in line with the required returns by bondholders at that point as described below: Real rate of return 5 % Inflation premium 5 Risk premium 4 Total return 14 %
Answer:
Price of the bond = $1,252.65 (Approx)
Explanation:
Required Return = Real rate of return + Risk premium + Inflation premium
Required Return [After 5 yr] = 5% + 4% + 2%
Required Return [After 5 yr] = 11%
Number of year left [for maturity] = 30 -5 = 25 year
Interest payment = $1,000 x 14%
Interest payment = $140
Using Formula in excel;
Price of the bond = pv(rate,nper,pmt,fv)
Price of the bond = pv(11%,25,140,1000)
Price of the bond = $1,252.65 (Approx)
The text specifies three people-oriented guidelines that can raise the quality of discussions: rephrasing ideas already expressed, bringing all members into active participation, and stimulating further thought by members. To get group members to think even further, Finance Director Debenditti mentions that she also asks ______.
Question Completion with Options:
A. Should we take a break and come back in an hour?
B."What if we proceed down this path and it fails?
C. Do we have at least three alternatives to consider?
D." How long do we have to rehash these alternatives before we can move on?
E. Why are you not participating in this discussion?"
Answer:
C. Do we have at least three alternatives to consider?
Explanation:
By asking for at least three other alternatives or solutions to the overriding problem under discussion, the Finance Director will be motivating her team members to think further on the solutions. She is broadening the groupthink so that all ramifications and considerations are brought to the fore before any conclusions can be reached. This is the most relevant question that elicits further discussions in any group.
