Answer:
D. Extended form
Explanation:
The extended form is a non forfeiture option which is included to extend the coverage for a limited period of time upon the failure of the policy holder to pay the premiums. Here, the policy holder stops to pay the premiums but keeps the full amount of the policy in force for whatever term the cash value permits.
It is the default non-forfeiture option that is, it is automatically implemented.
What are the three ingredients of a financial and banking crisis? The three ingredients of a financial and banking crisis include all of the following except _______.
A. a widespread fall in asset prices
B. a fall in the foreign exchange rate
C. a run on the bank
D. a large currency drain
Answer:
B. a fall in the foreign exchange rate
Explanation:
A fall in foreign exchange rate does not imply a financial or banking crisis but is rather caused by the following
1. When the global price of a country's major export falls which triggers a decline in her export revenues and consequently a decline in the demand for the currency of that country.
2. On the other hand, and in line with 1 above; a country's currency falls when the demand for imported products increases and is far more than exports which leads to a trade deficit.
3. When the nation's current account of balance of payments is in deficit which results from a net outflow of currency.
4. Reduction in a country's central bank monetary policy interest rates, which will make investors to move their money and invest it elsewhere.
5. Increase in demand for foreign currency in the parallel market or as a result of speculation that exchange rate is likely to rise causing people to buy foreign currency with local currency and thereby weakening the local currency.
What lean concept relates to eliminating non-value-added steps and waste in product storage processes?
Answer:
Just in time (JIT) inventory management system
Explanation:
The JIT inventory management system was developed by Toyota in Japan. JIT tries to decrease production costs by lowering inventory costs and increasing efficiency by reducing wastes.
Some of the main advantages of JIT are:
Productivity increaseWaste eliminationHigher product qualityWhen preparing the budgeted income statement of a merchandising company, the amount of cost of goods sold can be taken from the
Answer and Explanation:
Merchandising company is one that buys finished goods and add values to it and sells. Unlike the manufacturing firm where the firm produces the good and sells them.
In order to find the COGS for a merchandising company for preparing the income statement, we can look at the inventory purchases and budget for COGS. We can also look at the starting and ending inventory.
The formula for COGS is:
Beginning inventory + purchases - ending inventory = Cost of goods sold.
During the year being audited, the Matthews Corporation changed from a system of recording time worked on clock cards to an IT payroll system in which employees record time in and out with magnetic cards. The IT system automatically updates all payroll records. Because of this change:______
(a) a generalized computer audit program must be used.
(b) without paper clock cards, part of the audit trail is altered
(c) the potential for payroll-related fraud is diminished
(d) transactions must be processed in batches
Answer:
B) without paper clock cards, part of the audit trail is altered
Explanation:
The audit trail is a log that chronologically records documentary evidence of relevant activities and procedures.
Before the IT payroll system was adopted, an audit trail was already established. Since the new system reduces paperwork, it will also change the audit trail. The new system will probably reduce the audit trail.
Suppose that a country’s annual growth rates over a 10-year period are as follows: Year Growth Rate 1 5% 2 3 3 4 4 – 1 5 – 2 6 2 7 3 8 4 9 6 10 3 Instructions: In part a, round your answer to 1 decimal place. In part b, enter your answers as whole numbers. a. What was the country’s trend rate of growth over this period?
Answer:
a. 2.7%
b. From 6 to 9 years
Explanation:
a. The country’s trend rate of growth over this period is computed below:
= Total of growth rate ÷ time period
where,
Total of growth rate is
= 5% + 3% + 4% -1% -2% +2% + 3% + 4% + 6% + 3%
= 27%
And, the time period is 10 years
So, the trend growth rate is
= 27% ÷ 10 years
= 2.7%
b. The expansionary phase of the business cycle is from 6 years to 9 years as the growth rate is increased over this time period plus the growth rate is positive
The country's trend rate of growth over the 10-year period is 2.7%.
Explanation:To calculate the country's trend rate of growth over the 10-year period, we need to find the average growth rate. We can do this by summing up all the growth rates and dividing by the number of years.
Sum of growth rates = 5 + 3 + 4 - 1 - 2 + 2 + 3 + 4 + 6 + 3 = 27
Average growth rate = Sum of growth rates / Number of years = 27 / 10 = 2.7%
Therefore, the country's trend rate of growth over this period is 2.7%.
An elderly client has been a long-time client of Joe, who is an IAR. The elderly client has a trust account for his children and decides to name Joe as the trustee via his will, once he passes away. Joe is to oversee and manage the investments of the trust at his discretion once the elderly client passes away. When the elderly client passes away and Joe is trustee, which of the following are correct?
I.Joe would be considered a fiduciary for the trust account.II.Joe would be considered an agent who would receive commissions related to trades in the trust account.III.Joe would be considered a beneficiary of the trust account.IV.Joe would be considered to have a certain level of discretionary authority over the trust account and would have custody of trust account funds as trustee.
Answer:
I) Joe would be considered a fiduciary for the trust account.
IV) Joe would be considered to have a certain level of discretionary authority over the trust account and would have custody of trust account funds as trustee.
Explanation:
Since the client named Joe as his trustee, once the client passes away Joe will be in charge of managing the trust account. Since Joe must place the interests of the beneficiaries (the client's children) ahead of his own interests, Joe is considered a fiduciary for the trust account.
Joe is also in charge of managing the investments, therefore he will have discretionary authority over them. Since Joe is the trustee, he has control of the money and he can also have custody of the funds.
Waterway Inc. took a physical inventory at the end of the year and determined that $832000 of goods were on hand. In addition, the following items were not included in the physical count. Waterway, Inc. determined that $96000 of goods purchased were in transit that were shipped f.o.b. destination (goods were actually received by the company three days after the inventory count).The company sold $39500 worth of inventory f.o.b. destination.
What amount should Waterway report as inventory at the end of the year?
Answer:
$888,500
Explanation:
F.O.B Destination(freight on board) means that ownership is transferred to the buyer as soon as buyers acknowledge receipt of the goods.
Since the goods arrived 3 days after inventory count, the cost of transit goods should be added up as follows:
$832,000 + $96,000 - $39500 = $888,500
Final answer:
Waterway Inc. should report an inventory of $928,000 at the end of the year, which includes the physical inventory count of $832,000 and the goods in transit valued at $96,000.
Explanation:
The question is related to the process of inventory valuation in a business context, specifically for a company called Waterway Inc. The issue at hand is determining the correct amount of inventory to report at the end of the year, considering the physical inventory count and additional items not included in the count.
According to the information provided, Waterway Inc. has performed a physical inventory count and determined that goods worth $832,000 were on hand. Additionally, goods purchased in transit valued at $96,000 should be included in the inventory as they were shipped f.o.b. destination and received after the year-end count. However, the inventory sold valued at $39,500, which was also shipped f.o.b. destination, should not be included because the ownership transfers to the buyer upon delivery, and it was still in transit at year-end. Therefore, the correct inventory amount to report would be $832,000 (on-hand inventory) plus $96,000 (goods in transit), which totals $928,000.
An investmetn adviser will always be considered to have taken custody if an adviser: is the trustee for the cleint in a trust account.
Answer:
true (A. is the trustee for the client in a trust account)
Explanation:
Based on the information provided within the question it can be said that this statement is completely true. This is mainly due to the fact that a trustee can directly deduct management fees from the customer funds. Therefore if the investment adviser is the trustee for the client he is able to have custody over the account and make these deductions.
Companies who believe that higher sales volume leads to lower unit costs and higher long-run profits are attempting to Answer .
A) maximize their market share
B) skim the market
C) become a product-quality leader
D) merely survive in the market
E) maximize their current profits
Answer:
A) Maximize their market share.
Explanation:
Companies which believe higher sales volume will drive the cost down (& profits upward) will need to sell more of their products to achieve this target.
For example, if a bike manufacturer thinks that he can reduce cost by higher number of sales, he must maximize his market share and target more and more people to buy the bikes, let it be child, millennial, parents, everyone.
This will derive the sales volume to be higher and the costs to be lower (& higher long-run profits).
Nora and Owen do business as Profit & Property, a real estate investment partnership. In acting on the firm's behalf in a deal with Village Mall, Nora takes advantage of an opportunity to make a secret profit on her own behalf. To her firm, Nora is liable for Select one:________
a. breach of contract.
b. breach of the duty of loyalty.
c. breach of the duty of care.
d. nothing.
Nora is liable for Select one: breach of the duty of loyalty. option B
In the scenario described, Nora is liable for a breach of the duty of loyalty. In a partnership, each partner must act in the best interests of the partnership and not for their personal gain at the expense of the firm.
By taking advantage of an opportunity for herself that should benefit the entire partnership, Nora has violated the trust and obligation she owes to her business partner, Owen, and the firm Profit & Property. This is a clear breach of the ethical and fiduciary responsibilities that are fundamental to a partnership arrangement.
If the price level doubled and someone wanted to maintain the same level of purchasing power, the nominal quantity of money demanded must:
Answer:
Double
Explanation:
If the price level doubles, the good becomes twice as expensive. To be able to afford to the same amount of goods before the doubling in price, the nominal money demanded has to double also.
For example, if $10 could buy 5 pencils. The price of pencils is $2. If the price of pencils increases from $2 to $4 ,$10 would buy 2.5 pencils. For the consumer to be able to buy the same amount of pencils before the price rise, the nominal quantity of money demanded should increase to $20 to be able to buy 5 pencils.
I hope my answer helps you.
A property is purchased for $480,000. The land is valued at 10% of the initial purchase price of the property. Given a 39 year depreciation term, what is the annual depreciation expense?
Answer:
$11,076.92
Explanation:
Data provided in the question:
Purchasing cost of the property = $480,000
Value of land = 10% of the initial purchase price of the property
Depreciation term = 39 years
Now,
Annual depreciation
= [ Beginning depreciable basis ] ÷ [ Depreciation term ]
also,
Beginning depreciable basis = Purchasing cost of the property - Value of land
= $480,000 - $48,000
= $432,000
Therefore,
Annual depreciation = $432,000 ÷ 39 years
= $11,076.92
Tell, an Ohio real estate broker, misrepresented to Allen that Tell was licensed in Michigan under Michigan’s statute regulating real estate brokers. Allen signed a standard form listing contract agreeing to pay Tell a 6% commission for selling Allen’s home in Michigan. Tell sold Allen’s home. Under the circumstances, Allen is
A. Not liable to Tell for any amount because Tell violated the Michigan licensing requirements.
B. Liable to Tell only for the value of services rendered under a quasi-contract theory.
C. Not liable to Tell for any amount because Allen signed a standard form contract.
D. Liable to Tell for the full commission under a promissory estoppel theory.
If a hotel has an annual net operating income of $812,000 at a 9.35% cap rate, what is its current value (to the nearest thousand)?
Answer:
Current value = Net operating income
Capitalization rate
= $812,000
0.0935
= $8,684,492
Explanation:
This is consiste nt with the net operating income approach to capital structure that holds that value of a company is the capitalization of net operating income at the capitalization rate of a company. Thus, the division of net operating income by the capitalization rate gives the current value.
Decreases in the money supply affect the economy indirectly because A. interest rates decrease causing planned investment to increase, which causes an increase in aggregate demand. B. people spend excess money balances and thus, aggregate demand increases. C. interest rates increase, causing planned investment to decrease, which causes a decrease in aggregate demand. D. people have insufficient money balances and thus aggregate demand decreases. E. There is no indirect effect of the money supply on the economy.
Answer:
The correct answer is option C.
Explanation:
A decrease in the money supply would reduce the availability of credit in the market. The money supply curve will shift to the left. This would further cause the interest rate to increase.
This increase in the interest rate would increase the cost of borrowing. As a result, the cost of borrowing will increase. This will cause the planned investment to decline.
Since investment expenditure is a component of aggregate demand, a decline in the investment will cause the aggregate demand to decrease as well.
A decrease in the money supply is part of contractionary monetary policy, leading to higher interest rates and thus discouraging business investment and consumer borrowing. This process indirectly leads to a decrease in aggregate demand.
Explanation:Decreases in the money supply impact the economy indirectly through effects on interest rates and investment. When the money supply decreases, it is part of a contractionary monetary policy. This leads to higher interest rates and consequently, decreases the quantity of loanable funds available in the market.
With the increase in interest rates, borrowing money becomes less attractive for firms, making it more appealing to put those funds into financial rather than physical capital investment. This leads to a decline in business investment. Moreover, the high interest rates discourage consumer borrowing for large purchases like houses and cars, indirectly causing a decrease in aggregate demand.
Therefore, option C: 'interest rates increase, causing planned investment to decrease, which causes a decrease in aggregate demand' is the correct one. A decrease in money supply doesn't automatically lead to an increase in spending, but rather restricts spending due to increased cost of borrowing. Hence decreased investment and spending lead to a decrease in aggregate demand.
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Externalities affect the economic efficiency of a market equilibrium by causing a difference between:________
A. the marginal private cost of production and the marginal social cost of production.
B. the marginal private benefit of consumption and the marginal social benefit of production.
C. consumer surplus and producer surplus.
D. both a and b.
E. all of the above.
Answer:
D. both a and b.
Explanation:
The marginal cost of production is the marginal private cost. When an individual or a firm spend extra cost for an extra unit of good or service, it is called marginal private cost. The marginal social cost of production is the cost that an entire society pays for the consumption of an extra unit of goods or services.
The extra benefit a consumer gets from the use of extra good is referred to as the marginal private benefit. When there is a change in benefit due to the extra unit of consumption, it is the marginal social benefit. It includes an extra benefit.
The economic efficiency of a market equilibrium deters the marginal private cost and benefit. Externalities affect that market equilibrium.
So, both a and b is the answer.
The purchase of fuel, seed, and fertilizer are intermediate costs to a wheat farmer and _________ be included in the GDP until the final product (bread) is sold to a consumer..
A. will not
B. will
C. will sometimes
D. none of the above
Answer:
A. will not
Explanation:
GDP is the total value of goods and services produced in an economy in a period. In calculating GDP, economists consider the value of final goods only. The use of final products only eliminates the possibilities of double counting.
Intermediate goods are products used to manufacture other goods. They are not included in GP computation as it will amount to double counting. GDP double counting is when a product or service is counted more than once. If the seeds, fuel, and fertilizer are counted when purchased, they are likely to be counted again in bread, which is the final product.
If the fuel, fertilizer, and seed are for consumption, i,e. final goods, they would be included in GDP calculation.
Costs, such as investigating the possibilities of and actually creating or acquiring a trade or business.
Answer:
Start up costs
Explanation:
By definition Startup costs "are the expenses incurred during the process of creating a new business". W can classified as pre start up costs and post start up costs.
For the pre start up costs we have for example research, borrowing costs, and expenses for technology and science.
For the post-opening startup costs we have advertising, promotion, and expenses related to the company.
So the best description for startp up costs is: "Costs, such as investigating the possibilities of and actually creating or acquiring a trade or business."
Phillip is the manager of a home appliance store. He supervises his subordinates while they are installing appliances in customers' homes. If they do not complete the installation process within the time allotted, they are given a black mark. Depending on the number of black marks they have on their record, Phillip deducts their salaries. In this scenario, Phillip is using _____.
a) adaptive control
b) normative control
c) concertive control
d) bureaucratic control
Answer:
d) bureaucratic control
Explanation:
Based on the information provided within the question it can be said that in this scenario Phillip is using bureaucratic control. This refers to the use of various different authority, rules, and policies, among other methods in order to influence employee behavior as well as evaluating their performance. Which in this scenario the bureaucratic control that Phillip is using is a form of reward and punishment to make sure the employees performance is on par with store standards.
Final answer:
Phillip is exercising bureaucratic control by enforcing formal rules and procedures in his home appliance store and penalizing employees with salary deductions for not completing tasks in a specific time.
Explanation:
Phillip, as the manager of a home appliance store who supervises his subordinates and penalizes them by deducting their salaries if they do not complete the installation process on time, is utilizing a form of bureaucratic control. This kind of control is characterized by the establishment of a system of rules that govern how tasks should be performed and the imposition of penalties for not following these rules. It is a formal means of control that operates through hierarchies and formal rule-making, as seen in large organizations and bureaucracies. Therefore, in the given scenario, the correct answer is d) bureaucratic control.
Which of the following statements is not true? Multiple Choice
1. Some public goods are paid for by private philanthropy.
2. Private provision of public goods is usually unprofitable.
3. The free-rider problem results from the characteristics of nonrivalry and nonexcludability.
4. Public goods are only provided by government.
Answer:
4. Public goods are only provided by government.
Explanation:
The statement is false because, as stated by the previous options of the question, sometimes public goods are provided by private organizations even if they are usually unprofitable.
For example, in New York City the Central Park Conservancy is a private, non-profit organization that provides maintenance and operation for the Central Park. This is an example of a private organization employing its resources for the benefit of the public.
The ______________ is responsible for preparing all of the appropriate documentation for a 1031 exchange transaction, securing the funds in an escrow account until the exchange is completed and submitting a 1099 form to the taxpayer and the IRS for any gr.
Answer: Qualified intermediary.
Explanation:
Qualified intermediary is someone that can act as a middle person qualified under certain conditions of the United States IRS (Internal Revenue Service) to take up such role. Someone who is qualified to be a qualified intermediary must not be the exchangor.
Under the IRS, section 1031, parents, siblings or children can act as ones qualified intermediary.
You buy a stock for $34 per share and sell it for $36 after you collect a $1.00 per share dividend. Your pretax capital gain yield is ________________ and your pretax dividend yield is ________________. A) 2.94 percent; 2.78 percent B) 4.65 percent; 3.17 percent C) 5.88 percent; 2.94 percent D) 5.56 percent; 2.78 percent E) 8.82 percent; 0.00 percent
Answer: C - 5.88 percent; 2.94 percent
Explanation: Calculation of pre tax capital gain yield and pretax dividend yield is:
1. Pretax capital gain yield
=Share selling price - Purchase price/purchase price
=$36 - $34/$34
=$2/$34
=0.0588*100%
=5.88%
2. Pretax Dividend Yield
= Annual Dividend/Purchase price
= $1/$34
=0.0294*100%
=2.94%
Employees who have just been laid off are asked questions that encourage them to express hostility toward their employer. Research suggests that this opportunity to vent anger will:
A) calm their emotions and reduce their anger.
B) lead them to perceive their employer's actions as unavoidable.
C) rechannel their anger into constructive motivation.
D) increase their hostility.
Answer:
D. increase their hostility
Explanation:
Based on the information provided within the question it can be said that the research suggests that this opportunity to vent anger will increase their hostility. This is mainly due to the fact that they will express their anger after being laid off and when that does not yield results, they will begin to feel powerless and thus increase their anger and hostility.
Your boss, Sam, has approved for you to conduct a usability test on your company’s website. Your next step is to design the test. All of the following are important for the test’s success EXCEPT:____________
Answer:
C) That the test asks users to accomplish a series of tasks.
Explanation:
True, the usability test on the company website should be brief and not time consuming. Therefore all other steps are relevant such as asking users to do one task.
Also making sure the test is specific by ensuring it is based on a common problem or question that the users have. And should put the more importantly it should put the user experience in mind in the design.
The value of Mike Jackson’s shares in the New Frontiers Technology Fund is $51,400. The management fee for this particular fund is 0.80 percent of the total asset value. Calculate the management fee Mike must pay this year
Answer:
$411.2
Explanation:
It is simply about finding the 0.80 percent of $51,400
Management Fee to Pay = Total Asset Value X 0.80%
= Total Asset Value X 0.80/100
= $51,400 X 0.80/100
= $51,400 X 0.008
= $411.2
Management Fee to be paid by Mike this year is $411.2
What is an accurate definition of a hobby? the collection of things a person has done a subject a person would like to learn more about an ability a person has created through learning and experience something a person likes to do for fun
Answer: A hobby is something a person likes to do for fun.
Explanation:
A hobby is an activity or occupation that someone does for fun during his/her free time.
Answer:
A)something a person likes to do for fun
Explanation:
An investment adviser has adopted an external business succession plan. Who is responsible for servicing the IA's client accounts if the managing director of the investment adviser suddenly dies?
Answer:
The correct answer is (B)
Explanation:
In a situation where an investment adviser has adopted external business succession plan, and if the managing director dies the IA's client account will be managed by another IA Firm to which investment management has been transferred. Because of the external business succession plan the client account will be transferred to other IA firm to manage the funds.
Final answer:
An external business succession plan determines who will service an investment adviser's client accounts if the managing director dies.
Explanation:
If the managing director of an investment adviser dies, an external business succession plan will determine who will be responsible for servicing the IA's client accounts. This plan typically outlines the steps and individuals who will take over the management of the company in the event of the leader's death.
For example, if the investment adviser has identified a successor or a team of individuals to take on the managing director's responsibilities, they would be responsible for servicing the client accounts. Alternatively, the plan may involve transferring the client accounts to another investment advisory firm.
It is crucial for investment advisers to have a robust business succession plan in place to ensure the continuity of services and the protection of their client's interests in case of unexpected events.
1. What setting must be enabled to view data in Demographics and Interests Reports?
Access the account and property where you want to use the demographic and interest data by navigating there. To change property settings, select the property column. Select Enable Demographics and Interests Reports under Advertising Features and turn it on.
What is the advertising feature in Demographics?You have the choice of activating either the remarketing or the advertising reporting tools, or solely the latter. In case you employ analytics.
Create Remarketing Audiences based on certain behavior, demographic, and interest data and share.
Features are classified as paid advertising. Advertising that appears to be editorial material and is presented as a brief feature story.
Therefore, advertising features setting must be enabled to view data in Demographics and Interests Reports.
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An organization's budgeting process should include the expression of its major policies:__________A. In writing and in qualitative terms.B. In writing and in subjective terms.C. Both verbally and in writing.D. Both in writing and through training sessions.E. None of these is correct.
Answer:
The correct answer is A
Explanation:
Budgeting is the procedure or the process where the future expenditure and the income are decided to streamline the process of the expenditure. It is done so that to keep the track of the income and expenditure.
When the budgeting process of the firm or the organization must involve or comprise of the expression of the major policies so, it should in writing as well as in the qualitative terms.
Businesses use payroll records to inform employees of their annual earnings and to prepare payroll reports for the government. ( true or false )
Answer:
True
Explanation:
The total amount earned by all employees for pay period i.e, weekly, twice a month or monthly etc is called payroll which is always a documented to inform employee and company budgetary matters too. The payroll is reduced by the federal and state taxes applicable and other deduction such as health insurance and employee advances/loans etc to determine the amount paid to the employees.The business also uses these record to inform employees about their earning and inform the government by submitting payroll reports.
Tax based on the payroll is called the payroll tax. A business is required to withhold the tax from the salary as per the law , therefore accurate and detailed payroll record should be maintained. Government may impose penalty to the business if found any disparity or error in the earning and tax deduction.Payroll taxes withheld represents a liability for the employer until the payment is made to the government.