A customs union is different from other regional trade agreements primarily due to its specific focus on eliminating internal barriers to trade among member countries and implementing a common external tariff on imports from non-member countries.
Here are some key distinguishing features of a customs union:
1. Common External Tariff: Member countries of a customs union impose a unified tariff structure on imports from non-member countries. This means that they have a shared trade policy towards external entities.
2. Free Trade within the Union: A customs union aims to remove trade barriers, such as tariffs and quotas, among member countries. It allows for the free movement of goods and services within the union, promoting deeper integration and economic cooperation.
3. Unified Trade Policy: Unlike other regional trade agreements, a customs union involves a common trade policy that is jointly determined by the member countries. They coordinate their positions on trade negotiations and harmonize trade-related regulations.
4. No Independent Trade Deals: In a customs union, member countries typically relinquish their individual autonomy to negotiate and enter into independent trade agreements with non-member countries. Instead, they collectively negotiate and engage in trade deals as a unified bloc.
It is important to note that customs unions can serve as a stepping stone towards more integrated forms of regional cooperation, such as a common market or an economic union, where factors like the free movement of labor and capital are also included.
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A. Comment on THREE (3) perils associated with ocean transportation.
B. Highlight FIVE (5) responsibilities of a carrier under the carrier's liability of ocean transportation to ensure that cargo reaches its destination on time and in the original condition when it was loaded onto a vessel.
C. Explain the following terms and give an example of each as it relates to the carrier's liability in land transportation. i. Act of God ii. Public enemy iii. Inherent nature of goods iv. Acts of negligence by shipper
A. Perils associated with ocean transportation are:
Bad weather: This is one of the most common problems that can delay the shipment of cargo. When the weather is too bad, the carriers can't leave the port because it can be risky and dangerous for them.Piracy: Piracy is a significant problem that ocean transportation faces. Piracy can damage the cargo, lead to the loss of the cargo or harm the crewmembers and, in some instances, delay cargo shipment.Theft: Ocean transportation can be an attractive target for thieves since the goods are shipped in large quantities. These thieves can steal the cargo, which can result in a loss of property for the owners.B. The responsibilities of a carrier under the carrier's liability of ocean transportation are:
Proper packaging and handling of goods.Record keeping and filing of all the necessary documents and forms.Arranging for cargo insurance.Transportation of goods in the same condition as they were loaded and ensuring that they reach their destination on time. Keeping track of the cargo and providing regular updates about the status of the cargo throughout the voyage.C. As it relates to the carrier's liability in land transportation, the following terms are:
Act of God: It is an event that is beyond human control. Examples of these events include hurricanes, earthquakes, and floods. Public enemy: It is an external force that is beyond the carrier's control. Examples include war, terrorism, and riots. Inherent nature of goods: It is the nature of goods that makes them more prone to damage. For instance, perishable goods that need to be transported in a particular way and time-sensitive goods that require swift delivery.Acts of negligence by the shipper: It is the responsibility of the shipper to pack, label, and load the cargo correctly. If there is any error in the packing, labeling, or loading, it can damage the cargo.For further information on Ocean Transportation visit :
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Assume the demand for organic salmon (OS) is given by the following equation where Q is the quantity and P is the price of Q: Demand: Q = 100-¹/P 1. The current price of OS is set at $60 per kg. Find the price elasticity of demand at this price. Is demand elastic or inelastic at this price? Explain.
Because of health benefit and high demand on this good, the price increased from $60 to $70. Calculate the price elasticity of demand between these two different prices. Explain numerically the effect of this price change on total revenue.
A $10 price increase results in a 16.9% rise in total income. The demand equation is Q = 100- 1/P. The price of the organic salmon (OS) is $60 per kg.
The price elasticity of demand (Ep) is given by Ep = (%ΔQd/%ΔP) * (P/Qd). By using the formula, we can calculate the price elasticity of demand at the current price:
Ep = (%ΔQd/%ΔP) * (P/Qd)= ((1/P) * (-1) * (60/(100 - 1/60))) = -0.06
Since the value of price elasticity of demand is less than 1, the demand is inelastic at this price.
Given, Demand equation, Q = 100- 1/P
The price of the organic salmon (OS) is $60 per kg.
The price elasticity of demand (Ep) is given by
Ep = (%ΔQd/%ΔP) * (P/Qd)
We can calculate the price elasticity of demand at the current price by using the formula,
Ep = (%ΔQd/%ΔP) * (P/Qd)
On simplification, we get
Ep = ((1/P) * (-1) * (60/(100 - 1/60))) = -0.06
Therefore, the price elasticity of demand at $60 per kg is -0.06.
As we know, if Ep is greater than 1, the demand is elastic, if Ep is less than 1, the demand is inelastic, and if Ep is equal to 1, the demand is unit elastic.
The value of price elasticity of demand is less than 1, so the demand is inelastic at this price.
If the price of organic salmon increases from $60 to $70 per kg, then the new quantity demanded (Q2) and original quantity demanded (Q1) can be calculated using the given demand equation:
Q1 = 100 - 1/60 = 98.33 kgQ2 = 100 - 1/70 = 98.57 kg
The percentage change in the quantity demanded can be calculated as:
%ΔQd = (Q2 - Q1)/Q1 * 100 = (98.57 - 98.33)/98.33 * 100 = 0.24%
The percentage change in the price can be calculated as:
%ΔP = (P2 - P1)/P1 * 100 = (70 - 60)/60 * 100 = 16.67%
Therefore, we can calculate the price elasticity of demand between these two prices:
Ep = (%ΔQd/%ΔP) * (P/Qd) = (0.24/16.67) * (60/98.45) = 0.04
Therefore, the price elasticity of demand between these two prices is 0.04.
As we know, if the value of Ep is less than 1, an increase in price results in an increase in total revenue, while a decrease in price results in a decrease in total revenue.
The price of organic salmon has increased from $60 to $70 per kg, and the demand is inelastic. Therefore, the total revenue will increase with the increase in price.
The effect of this price change on total revenue can be calculated as:
Total revenue (TR) = P * QTR1 = $60 * 98.33 = $5,900TR2 = $70 * 98.57 = $6,899.90
The percentage change in total revenue can be calculated as:
%ΔTR = (TR2 - TR1)/TR1 * 100 = (6,899.90 - 5,900)/5,900 * 100 = 16.9%
Therefore, there is a 16.9% increase in total revenue due to a $10 increase in price.
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as a board chair of azuus inc. a manufacturer of house hold electronic product head quartered in omaha nebraska. Discuss why you may advice the company to either payout high or low dividend to its stakeholders. Motivate your answer
As the board chair of Azuus Inc. a manufacturer of household electronic products headquartered in Omaha, Nebraska, the decision to either payout high or low dividends to stakeholders should be based on various factors such as company performance, business strategy, and market trends. Here's a detailed explanation of why the company may opt to payout high or low dividends to its stakeholders.
Dividend: A dividend is a payment made by a company to its shareholders, usually in the form of cash or additional shares in the company. Dividends are typically paid out of the company's earnings or profits and represent a share of those earnings that are paid directly to shareholders.
Stakeholders: Stakeholders are individuals or groups that have an interest in the success of a company or organization. This can include shareholders, employees, customers, suppliers, and the wider community.
High Dividend Payout: A high dividend payout is typically seen as a positive sign by shareholders, as it indicates that the company is generating strong earnings and is confident about its future prospects. However, a high dividend payout can also be seen as a negative sign, as it may indicate that the company is not reinvesting enough of its profits back into the business, which could limit future growth.
Low Dividend Payout: A low dividend payout is typically seen as a negative sign by shareholders, as it indicates that the company is not generating strong earnings or is not confident about its future prospects. However, a low dividend payout can also be seen as a positive sign, as it may indicate that the company is reinvesting more of its profits back into the business, which could lead to future growth and increased shareholder value.
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Which type of life insurance has premiums that increase with age? A Long-term care insurance B Creditor insurance C Whole life insurance D Term insurance
The type of life insurance that has premiums that increase with age is:
C. Whole life insurance.
Whole life insurance is a type of permanent life insurance that provides coverage for the entire lifetime of the insured individual. It typically has level premiums that remain constant throughout the policyholder's life. As the insured person ages, the premiums for whole life insurance do not increase based on age.
On the other hand, term insurance, which is another type of life insurance, has premiums that remain level for a specified term, such as 10, 20, or 30 years. However, once the term expires, the premiums for renewing or extending the policy may increase based on the insured's age.
Therefore, while whole life insurance has level premiums, term insurance is the type of life insurance where premiums can increase with age after the initial term ends.
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Jill Miden does not believe that the IFE holds. Current one-year interest rates in Europe are 5 percent, whereas one-year interest rates in the U.S. are 3 percent. Jill converts $100,000 to euros and invests them in Germany. One year later, she converts the euros back to dollars. The current spot rate of the euro is $1.10. a. According to the IFE, what should the spot rate of the euro in one year be? b. If the spot rate of the euro in one year is $1.00, what is Beth's percentage return from her strategy?
Jill's percentage return from her strategy is -9.09%. According to the International Fisher Effect (IFE), expected changes in exchange rates between currencies are a direct reflection of the difference in interest rates.
In other words, a higher interest rate currency should depreciate against a lower interest rate currency in order to maintain the interest rate parity. However, Jill Miden does not believe in the IFE and hence, plans to invest $100,000 to Euros despite the difference in interest rates of Europe (5%) and the US (3%).
We have been asked to calculate the spot rate of Euro after one year according to the IFE and also to calculate Jill Miden's return from her strategy if the spot rate of Euro in one year is $1.00.a. According to the IFE, what should the spot rate of the euro in one year
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A successful_____program helps improve client service and create a long-term relationship between an organization and its clients. a. supply chain management b. database management c. customer relationship management d. nanotechnology e. enterprise management
Management information system's (MIS) ______include programs developed in-house.
a. human elements b. data processes s
c. oftware components d. hardware components e. encryption network diodes Identify one advantage of cloud-based enterprise systems as compared to on-premise systems.
a. Vendor lock-in b. Automation c. Knowledge base management system d. Security d. Customization
A successful customer relationship management (CRM) program helps improve client service and create a long-term relationship.
Customer relationship management (CRM) refers to the strategies, processes, and technologies used by companies to manage and analyze customer interactions and data throughout the customer lifecycle. By implementing a CRM program, organizations can better understand their customers, anticipate their needs, and provide personalized services. This leads to improved client satisfaction, increased customer loyalty, and ultimately, long-term relationships with clients. CRM software components, including database management systems and customer service tools, play a crucial role in supporting these efforts. In management information system's (MIS), software components include programs developed in-house.
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Linkcomn expects an Earnings before Taxes of 750000S every year. The firm currently has 100% Equity and cost of raising equity is 10%. If the company can borrow debt with an interest of 10%. What
will be the value of the company if the company takes on a debt equal to 60% of its levered value? What will be the value of the company if the company takes on a debt equal to 40% of its levered
value? Assume the company's tax rate is 30%
Given, the Earnings before Taxes of Linkcomn = 750000S annuallyThe company has 100% Equity and cost of raising equity is 10%.
The interest on borrowing debt is 10%.If the company takes on a debt equal to 60% of its levered value, then, the value of the company can be found as follows:As per the Modigliani and Miller model, the value of the firm can be calculated using the following formula;VL = VU + (T x D)Here,VL is the value of the levered firmVU is the value of the unlevered firmT is the tax rateD is the amount of debtLet us find the value of the firm, if it borrows debt equal to 60% of its levered value.The levered value of the firm is the total value of the company with debt.
The formula for levered value can be calculated as follows:VL = VU + TDHere,D = Debt = 60% of VL = 0.6 x VLVU = Value of the Unlevered firmVL = VU + TD = VU + 0.6 x VLVU = VL - 0.6 x VLVU = (1 - D/VL) x VLNow, let's substitute the values in the tax-adjusted formula of Modigliani and Miller model for the levered value of the company.VL = VU + (T x D) = (1 - D/VL) x VL + T x DHere, we have, T = tax rate = 30%Then,VL = (1 - D/VL) x VL + T x DVL = VL - D + 0.3DVL = VL - 0.7D0.7D = 0.3VLVL = D/0.7Putting the value of D = 0.6VL, we getVL = 0.6VL/0.7VL = 0.6/0.7 x VLVL = 0.857 x VLVL = 0.857 x EBIT / KeWe know, EBIT = 750000S and Ke = cost of equity = 10%So,VL = 0.857 x EBIT / Ke = 0.857 x 750000 / 0.1VL = 6,428,571.43.
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If the market rate of interest is less than the contractual rate of interest, bonds will sell at a premium.
True
False
The number of shares outstanding is based on the number of shares issued less any treasury stock.
True
False
1-If the market rate of interest is less than the contractual rate of interest, bonds will sell at a premium - False. 2-The number of shares outstanding is based on the number of shares issued less any treasury stock - True.
When the market rate of interest is less than the contractual rate of interest, bonds will sell at a discount, rather than at a premium. Because, when the market rate of interest is less than the contractual rate of interest, the bond issuer is obligated to pay the bondholders more than the current market rate of interest. As a result, the market will demand a price that is lower than the bond's face value. The contractual rate of interest on the bond is greater than the market rate of interest if it is selling at a premium.The number of shares outstanding is the total number of shares that a corporation has issued to shareholders, including treasury stock. The number of outstanding shares is a key financial metric for investors, as it is used to determine a company's market capitalization, or market cap. The number of outstanding shares is calculated by subtracting the number of treasury shares from the total number of shares issued. Therefore, the given statement that the number of shares outstanding is based on the number of shares issued less any treasury stock is True.
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According to Histrich and Peter (1998) entrepreneurship is the dynamic process of creating incremental wealth. The wealth is created by individuals who assume major risks in terms of equity, time, and career commitment or provide value for some products or service. It is the process of creating something new with value by devoting the necessary time and effort, assuming the accompanying financial, psychological, and social risks, and receiving the resulting rewards of monetary, personal satisfaction and independence. a) Critically discuss the importance of entrepreneurship. b) Discuss with relevant examples advantages and disadvantages of using partnership as a method of entrepreneurship.
Critically discuss the importance of entrepreneurshipEntrepreneurship has gained a lot of popularity in recent years, and it has proven to be an important tool in creating jobs, economic growth and development, wealth creation, and innovation.
The following are some of the reasons why entrepreneurship is important:1. InnovationEntrepreneurship is all about innovation, and it involves coming up with new and innovative ideas and turning them into profitable businesses. Innovation leads to new products and services, improved efficiency and effectiveness, and enhanced competitiveness.2. Job creationEntrepreneurship plays a significant role in creating jobs.
Entrepreneurs not only create job opportunities for themselves but also for others in their communities.3. Economic growthEntrepreneurship contributes to economic growth and development. Entrepreneurs create businesses that contribute to the country's gross domestic product (GDP), generate tax revenue, and stimulate economic activity.4. Wealth creationEntrepreneurship is a key driver of wealth creation. Entrepreneurs create value for their customers, and in return, they earn profits, which leads to wealth creation for themselves and their stakeholders.5. Social impactEntrepreneurship has a positive social impact. Entrepreneurs can address social and environmental issues by creating businesses that provide solutions to these problems.Entrepreneurship has its advantages and disadvantages when it comes to the methods of entrepreneurship. b) Discuss with relevant examples advantages and disadvantages of using partnership as a method of entrepreneurship.Advantages of Partnership as a method of entrepreneurship:1. Shared risk and responsibilityPartnership involves shared risks and responsibilities, and this helps entrepreneurs to mitigate the risks associated with starting and running a business. Partnerships also provide access to a wider range of skills, expertise, and resources.2. Shared costs and resourcesPartnerships allow entrepreneurs to share costs and resources, which makes it easier to start and run a business. This can include sharing office space, equipment, and supplies.3. More funding optionsPartnerships have more funding options than sole proprietorships. Partners can pool their resources to obtain financing, which increases their borrowing capacity.Disadvantages of Partnership as a method of entrepreneurship:1. Personal liabilityThe biggest disadvantage of partnership is personal liability. Partners are personally liable for the debts and obligations of the partnership. This means that if the business fails, partners could lose their personal assets.2. Disagreements between partnersPartnerships can suffer from disagreements between partners. This can be due to differences in vision, decision-making styles, or conflict of interest. Disagreements can be difficult to resolve and can lead to the dissolution of the partnership.3. Limited growth potentialPartnerships have limited growth potential. Partnerships can only grow as much as the partners are willing to invest. This means that partnerships may not be suitable for businesses that require significant capital investment.Example:Apple Inc. is an example of a successful partnership. Steve Jobs and Steve Wozniak started the company as a partnership in 1976. They pooled their resources to build and sell personal computers. Their partnership helped them to share costs and resources and enabled them to obtain financing. The company grew rapidly and eventually became a publicly-traded corporation.
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Identify the correct expression for the effective annual rate (EAR).
Select one:
a. (1 + Periodic rate of interest)number of borrowing (interest) periods in one year - 1
b. (1 / Periodic rate of interest)number of borrowing (interest) periods in one year - 1
c. (1 - Periodic rate of interest)number of borrowing (interest) periods in one year + 1
d. (1 - Periodic rate of interest)number of borrowing (interest) periods in one year - 1
e. (1 + Periodic rate of interest)number of borrowing (interest) periods in one year + 1
The correct expression for calculating the effective annual rate (EAR) is (1 + Periodic rate of interest)number of borrowing (interest) periods in one year - 1. Therefore, option a is correct.
The effective annual rate (EAR) is a measure of the annual interest rate that takes into account the effect of compounding. It provides a way to compare the annual interest rates of different financial instruments that may compound interest at different intervals. The correct expression for calculating the EAR is:
EAR = (1 + Periodic rate of interest)number of borrowing (interest) periods in one year - 1
In this expression, the Periodic rate of interest refers to the interest rate applied to each compounding period (e.g., monthly, quarterly, or semi-annually), and the number of borrowing (interest) periods in one year represents the number of compounding periods in a year.
By raising the periodic rate of interest to the power of the number of borrowing periods and adding 1, we account for the compounding effect over the year. Subtracting 1 from this result gives the overall interest earned or charged over the year.
This expression considers the compounding effect and allows for accurate comparison of interest rates on financial instruments with different compounding periods.
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If an investment grew to $11,500 in 2 years and the interest
amount earned was $886.98, calculate the nominal interest rate
compounded monthly.
The nominal interest rate compounded monthly is 0.5448, or approximately 5.448%
We can use the formula for compound interest to solve this problem:
A = P (1 + r/n)^(nt)
where:
A = final amount (in this case, $11,500)
P = principal or starting amount
r = nominal interest rate (what we want to find)
n = number of times interest is compounded per year (since we want the monthly rate, n = 12)
t = time in years (in this case, t = 2)
We know that the interest earned is $886.98, which means:
I = A - P
886.98 = 11,500 - P
P = 11,500 - 886.98
P = 10,613.02
Substituting these values into the formula, we get:
11,500 = 10,613.02(1 + r/12)^(2*12)
Simplifying and solving for r, we get:
1 + r/12 = (11,500 / 10,613.02)^(1/(2*12))
1 + r/12 = 1.0454
r/12 = 0.0454
r = 12(0.0454)
r = 0.5448
Therefore, the nominal interest rate compounded monthly is 0.5448, or approximately 5.448%
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Joanna received $70,200 compensation from her employer, the value of her stock in ABC company appreciated by $6,300 during the year (but she did not sell any of the stock), and she received $37.200 of life insurance proceeds from the death of her husband What is the amount of Joanna's gross income from these items? 9 00:16 Multiple Choice ebook $76 500 5107400 570.200
Joanna's gross income from these items is $113,700.
To calculate Joanna's gross income, we need to add up the compensation she received from her employer, the appreciation in the value of her stock, and the life insurance proceeds she received.
First, Joanna received $70,200 in compensation from her employer. This amount is included as part of her gross income.
Second, the value of her stock in ABC company appreciated by $6,300 during the year. Although she did not sell any of the stock, the increase in value is still considered income. Therefore, we add this amount to her gross income.
Lastly, Joanna received $37,200 in life insurance proceeds from the death of her husband. Life insurance proceeds are generally not taxable, so this amount does not need to be included in her gross income.
Adding up the compensation ($70,200) and the appreciation in stock value ($6,300), Joanna's gross income from these items is $76,500.
Therefore, Joanna's gross income from these items is $113,700 ($76,500 + $37,200).
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Assignment #1 - ADR, OCC%, RevPar - INDIVIDUAL RATE SHEET Day of Week Room #1 Room #2 Room #3 Room #4 Room #5 Room #6 Room #7 Room #8 Room #9 1 Monday 75 75 75 85 85 2 Tuesday 65 65 65 75 75 75 85 3 Wednesday 65 65 75 75 75 90 4 Thursday 70 70 70 75 85 85 95 150 5 Friday 105 105 105 100 100 120 120 250 6 Saturday 120 120 120 120 130 130 140 140 300 7 Sunday 65 100 100 100 100 150 8 Monday 75 $85 85 1 75 75 75 85 65 75 90 9 Tuesday 10 Wednesday 11 Thursday 12 Friday 13 Saturday 70 75 85 75 95 100 105 100 100 110 110 120 120 225 120 120 130 120 140 140 300 14 Sunday 65 85 100 100 100 100 140 15 Monday 75 85EU 85 16 Tuesday 65 75 75 75 85 150 17 Wednesday 75 75 PER 90 18 Thursday 90 75 85 95 100 150 19 Friday 100 110 110 120 250 20 Saturday 120 120 130 130 140 300 21 Sunday 65 100 100 150 22 Monday 75 65 85 150 23 Tuesday 65 75 75 85 24 Wednesday 75 75EITHE WEEK 75 85 85 100 150 25 Thursday 26 Friday 100 100 110 110 120 250 27 Saturday 120 120 130 140 28 Sunday 65 100 100 100 150 29 Monday 75 85 30 Tuesday 65 31 H75 75 85 150 75 90 31 Wednesday 195858 75 65 65 60 120 75 80 65 70 105 120 75 65 65 70 95 120 75 65 i 3282 * 38 2 65 70 100 120 75 65 70 120 75 65 [Mt 55万 70 万 10 65 65 75 75 110 65 60 70 105 120 65 65 75 70 120 65 65 75 selalesal 100 120 65 75 65 75 75 ERRE ត 1835 140 100 75 95 120 140 100 85 75 PH Activity #1 ADR, OCC%, RevPar - Individual Day of Week Room Room 2 Room 3 Room Monday 2 Tuesday Wednesday 4 Thursday 5 Friday 6 Saturday Sunday 8 Monday Tuesday 10 Wednesday 11 Thursday 12 Friday 13 Saturday 14 Sunday 15 Monday 16 Tuesday 17 Wednesday 18 Thursday 19 Friday 20 Saturday 21 Sunday 22 Monday 23 Tuesday 24 Wednesday 25 Thursday 26 Friday 27 Saturday 28 Sunday 29 Monday 30 Tuesday 31 Wednesday Occupacny ADR RevPar Which room was uesed the most? Who would use this information? Room 5 Room 6 Room 7 Room Room 9 PHOccupancy ADR TELEF TE WE LECCEL WEEREE HEEL ARENDE EX 1111 TEEEE! MELL RevPar 11111 11110 Activity #1 ADR, OCC%, RevPar - Individual Room #1 Room #2 Room #3 Room #4 Room #5 Room #6 Room #7 Room #8 Room #9 PH Day of Week 1 Monday 2 Tuesday 3 Wednesday 4 Thursday 5 Friday 6 Saturday 7 Sunday 8 Monday 9 Tuesday 10 Wednesday 11 Thursday 12 Friday 13 Saturday 14 Sunday 15 Monday 16 Tuesday 17 Wednesday 18 Thursday 19 Friday 20 Saturday 21 Sunday 22 Monday 23 Tuesday 24 Wednesday 25 Thursday 26 Friday 27 Saturday 28 Sunday 29 Monday 30 Tuesday 31 Wednesday Occupacny ADR RevPar Which room was uesed the most Who would use this information? Why is this information important? Occupancy ADR RevPar Assignment #1 - ADR, OCC%, RevPar - INDIVIDUAL RATE SHEET Day of Week Room #1 Room #2 Room #3 Room #4 Room # 5 Room # 6 Room #7 Monday 75 75 75 85 Tuesday 65 65 65 75 75 Wednesday 65 65 75 75 75 70 Thursday 70 70 75 85 85 Friday 105 105 100 100 100 120 Saturday 120 120 120 130 130 Sunday 65 65 100 100 Monday 75 75 85 Tuesday 65 75 75 0 Wednesday 65 75 75 1 Thursday 70 75 85 75 2 Friday 105 100 110 110 3 Saturday 120 130 120 4 Sunday 85 100 100 5 Monday 85 6 Tuesday 75 75 7 Wednesday 65 8 Thursday 70 85 9 Friday 100 110 110 O Saturday 120 130 130 1 Sunday 100 100 2 Monday 85 3 Tuesday 75 75 4 Wednesday 5 Thursday 85 85 6 Friday 110 110 130 7 Saturday 100 100 8 Sunday 9 Monday 85 0 Tuesday 75 75 1 Wednesday 105 120 75 65 65 60 95 120 75 80 65 70 105 120 75 65 65 70 95 120 75 65 75 65 70 120 75 65 기 65 75 70 75 10 55 110 65 ONSRSRS 120 65 65 75 100 120 65 75 65 75 90 | 65| 60 70 15 10 6555 75 70| 25451 120 65 75 65 75 100 120 65 75 65 75 676 | 75 75 10 20 55 75 75 10 120 65 75 Room #8 188 85 75 95 120 140 100 85 75 95 120 140 100 85 75 * 9888 888888 95 140 100 75 120 140 100 85 75 Room #9 85 90 120 140 100 85 90 100 120 140 100 85 90 100 120 140 85 100 120 140 100 85 90 00 PH 150 250 300 150 225 300 140 150 150 250 300 150 150 150 250 150 150
Analysis of ADR, OCC%, and RevPar for Individual Rate Sheet:
ADR (Average Daily Rate) is the average price charged for each occupied room per day. OCC% (Occupancy Percentage) is the percentage of rooms occupied out of the total available rooms. RevPar (Revenue per Available Room) is the revenue generated per available room.
Let's calculate ADR, OCC%, and RevPar for each day of the week based on the provided individual rate sheet:
Monday | 75 | 100% | 75
Tuesday | 75 | 100% | 75
Wednesday | 79 | 85% | 67.15
Thursday | 80 | 85% | 68
Friday | 100 | 85% | 85
Saturday | 123 | 100% | 123
Sunday | 88 | 100% | 88
Based on the calculations, the room that was used the most during the week is Room #1 with an ADR of $100. This room had 100% occupancy on Tuesday, Wednesday, Thursday, and Sunday.
This information would be useful for the hotel management team, revenue managers, and front desk staff. They can use this data to analyze the performance of different rooms, identify peak occupancy days, and make pricing and allocation decisions. It provides insights into revenue generation, occupancy patterns, and pricing strategies, enabling the hotel to optimize room utilization and maximize revenue.
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If a customer stops making payments on a whole life policy, all of the following are permitted EXCEPT:
A. taking the cash value of the contract as a lump sum
B. taking a reduced paid-up whole life policy
C. using the equity to purchase a term life policy
D. using the equity to purchase a non-participating policy
If a customer stops making payments on a whole life policy, all of the following are permitted except using the equity to purchase a term life policy.
Correct answer is, C. using the equity to purchase a term life policy.
An equity refers to the total value of an asset after all the liabilities are settled. In the insurance sector, equity is the amount paid by the insurer for the claims filed by the policyholder. In case the policyholder fails to make payment for a whole life insurance policy, there are some ways in which the policy can still be maintained.The following are permitted options when a customer stops making payments on a whole life policy:Takes the cash value of the contract as a lump sum.Takes a reduced paid-up whole life policy.Using the equity to purchase a non-participating policy.
A term life insurance policy is taken by an individual for a specific period of time. This insurance policy can be terminated by the policyholder at any time. Once the policy is terminated, the policyholder cannot receive any benefit from the policy, as there is no equity associated with the policy. Therefore, using equity to purchase a term life policy is not permitted when a customer stops making payments on a whole life policy.
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You are evaluating a 5-year project that will provide cash flows of $40,100, $84,510, 563,330, 161,470, and $44,730, respectively. The project has an initial cost of $188,000 and the required return is 8.6 percent. What is the project's NPV? (Do not round intermediate calculations and round your answer to 2 decimal places, e.g., 87632.16)
The net present value (NPV) of the project is -$2,920.94. NPV measures the value of a project by calculating the present value of its cash flows.
In this case, the cash flows for the five years are $40,100, $84,510, $563,330, $161,470, and $44,730, respectively. The initial cost of the project is $188,000, and the required return is 8.6 percent.
To calculate the NPV, each cash flow is discounted to its present value using the required return rate. The present value of each cash flow is calculated as follows: $40,100/(1+0.086)^1, $84,510/(1+0.086)^2, $563,330/(1+0.086)^3, $161,470/(1+0.086)^4, and $44,730/(1+0.086)^5.
The sum of these present values is then subtracted from the initial cost of the project to determine the NPV. In this case, the sum of the present values is $190,920.94, and subtracting the initial cost of $188,000 gives a net present value of -$2,920.94.
Therefore, based on the given cash flows, initial cost, and required return rate, the project has a negative NPV of -$2,920.94.
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Entrepreneurs... risks O a avoid Ob. share Oc ignore Od erase
Entrepreneurs should avoid risks. The correct option is a. Entrepreneurs should be aware of the risks associated with starting and running a business and take proactive measures to mitigate them.
Avoid risks (Oa): c This includes conducting thorough market research, developing a solid business plan, seeking advice from mentors or experts, and carefully managing financial resources.
Share (Ob) knowledge and resources: Collaboration and sharing are crucial for entrepreneurial success. Entrepreneurs should actively seek opportunities to network, collaborate, and share knowledge and resources with other entrepreneurs, industry professionals, and potential partners. This can lead to valuable insights, partnerships, and access to resources that can accelerate business growth.
Ignore (Oc) naysayers and doubts: Entrepreneurship often involves facing skepticism and doubts from others. Entrepreneurs should stay focused on their vision and goals and not let negative opinions or doubts deter them. By believing in themselves and their ideas, entrepreneurs can maintain the confidence and resilience needed to overcome challenges and pursue success.
Erase (Od) fear of failure: Fear of failure can be a significant barrier for entrepreneurs. It is essential to embrace failure as a learning opportunity and not let the fear of making mistakes hold them back. Entrepreneurs should adopt a growth mindset, view failures as stepping stones to success, and be willing to take calculated risks to innovate and achieve their goals.
By following these principles, entrepreneurs can navigate the challenges of entrepreneurship and increase their chances of building successful and impactful businesses. The correct option is a.
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According to Denning (2012), the purpose of business should be
to:
Add value for the customer
Defeat the competition
Create a sustainable competitive advantage
Earn above average profits
All are TRUE
Denning (2012) mentioned that the purpose of business should be to add value for the customer, create a sustainable competitive advantage, and earn above-average profits.
Defeating the competition is not the primary goal of a business, but rather a result of fulfilling the other purposes.The purpose of a business is to provide something valuable to its customers, who are its primary stakeholders. Companies that fail to do so are unlikely to survive in the long run. Adding value to customers refers to the provision of goods or services that address their needs or desires in a unique way. This is achieved through innovative products, exceptional customer service, or other means.
Companies must also create a sustainable competitive advantage that sets them apart from their competitors. This can be done through a variety of methods, such as developing proprietary technology, building strong relationships with suppliers and customers, or investing in research and development. This competitive advantage must be maintained over time through continuous improvement and adaptation to changing market conditions.
Finally, the business should aim to earn above-average profits, which are necessary to keep the company running and to provide a return on investment for shareholders. However, profit should not be the sole focus of a business, as it can lead to short-term thinking and neglect of other important aspects such as employee well-being, social responsibility, and environmental sustainability.
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Suppose Russia can produce automobiles relatively cheaply, but they have poor gas mileage and create a great deal of air pollution. The U.S. government, concerned about the quality of air, would like to see fewer Russian automobiles and more cleaner-running American automobiles on the road.
1 What is the nature of the market failure that would justify the U.S. government taking some action against the importation of Russian automobiles?
2 Explain why imposing a tariff is a second-best policy to employ in this case and what policy choice would be more efficient if:
i) US carries out its own solution;
ii) the two countries governments cooperate.
Brief explanation of the questions are as follows:
1. The nature of the market failure that would justify the U.S. government taking action against the importation of Russian automobiles is the presence of negative externalities. Negative externalities occur when the production or consumption of a good or service imposes costs on third parties who are not directly involved in the transaction. In this case, Russian automobiles have poor gas mileage and create a great deal of air pollution, which harms the environment and public health. These costs are not accounted for in the market price of Russian automobiles, leading to an inefficient allocation of resources and an undesirable level of air pollution.
2. Imposing a tariff, which is a tax on imported goods, is considered a second-best policy in this case because it does not directly address the environmental concerns associated with Russian automobiles. While a tariff would increase the price of Russian automobiles and reduce their competitiveness in the U.S. market, it does not incentivize the adoption of cleaner-running American automobiles or address the negative externalities caused by air pollution. Furthermore, a tariff may also lead to retaliation from the Russian government, potentially escalating trade tensions between the two countries.
i) If the U.S. government carries out its own solution, a more efficient policy choice would be to implement stricter environmental regulations and standards for automobile manufacturers. By setting and enforcing stringent emission standards, the U.S. government can encourage the production and adoption of cleaner-running American automobiles. This policy directly targets the environmental concerns and promotes technological innovation to reduce pollution.
ii) If the governments of both countries cooperate, a more efficient policy choice would be to negotiate an international agreement or treaty aimed at reducing pollution from automobiles. The two countries can collaborate on setting harmonized emission standards and regulations that apply to automobile manufacturers in both Russia and the United States. By working together, they can establish a level playing field and ensure that all automobiles, regardless of their country of origin, meet the same environmental standards. This cooperative approach promotes a more efficient allocation of resources and addresses the transboundary nature of the pollution problem, leading to better environmental outcomes for both countries.
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at what level of government is the real estate business primarily regulated?
The real estate business is primarily regulated at the state level of government, with state laws and regulations governing various aspects of the industry.
The regulation of the real estate business primarily falls under the jurisdiction of state governments in most countries. State laws and regulations govern various aspects of the real estate industry, including licensing requirements for real estate agents and brokers, property transactions, property management, landlord-tenant relationships, and disclosure requirements.
While there may be some federal regulations related to specific aspects of real estate, such as fair housing laws or environmental regulations, the majority of real estate regulations, including licensing, contracts, zoning, and property laws, are established and enforced by state governments. Each state may have its own real estate commission or board responsible for overseeing and regulating the industry within its jurisdiction.
It's important to note that local governments, such as cities or municipalities, may also have their own regulations and zoning ordinances that govern specific aspects of real estate development and use within their jurisdictions. However, the primary level of government responsible for the overall regulation of the real estate business is at the state level.
The real estate business is primarily regulated at the state level of government, with state laws and regulations governing various aspects of the industry.
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The cost of a market basket of goods in 2010, 2011, and 2012, is equal to $800, $825, and $873 respectively. Suppose 2010 is the base year. What is the price index in year 2012, rounded to one decimal place?
The pricing index in 2012, based on the year 2010 as the base year, is approximately 109.1.
The pricing index is a measure that indicates the relative change in the average price level of a market basket of goods over time. In this case, we compare the cost of the market basket in 2012 to its cost in 2010.
To calculate the pricing index, we use the formula: (Cost of market basket in the given year / Cost of market basket in the base year) * 100. Plugging in the given values, we get (873 / 800) * 100, which equals 109.1. Rounding to one decimal place, the price index in 2012 is approximately 109.1.
This means that the average price level of the market basket of goods increased by about 9.1% from 2010 to 2012. The price index helps track changes in inflation or deflation, allowing us to understand the overall trend in prices over time.
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Explain about prisoner's dilemma and Nash equilibrium through an example in real business life.
Prisoner's Dilemma and Nash Equilibrium are some of the game theories that are widely used in economics and business to evaluate strategic decision-making. Prisoner's dilemma refers to a scenario where individuals tend to act in a self-interested manner that violates the collective good of the community or society.
Nash Equilibrium refers to a scenario where all the players involved in the game have chosen a strategy that is optimal and no player has anything to gain by changing their strategy. Here is an example of Prisoner's Dilemma and Nash Equilibrium through a real-life business example: Example: Price War between Two SupermarketsSupermarkets A and B are the only two stores that are located in a small town. The two stores have an understanding that they will sell their products at similar prices to avoid engaging in price wars. However, a new supermarket C sets up shop in town, and it decides to lower its prices to attract customers.
To remain competitive, both supermarkets A and B decide to lower their prices as well. The two supermarkets face the following options:1. Reduce prices (R) and gain customers. 2. Do not reduce prices (D) and lose customers.A's and B's options can be presented in the following table:The dominant strategy in this case is for both stores to reduce prices (R). If both stores choose this strategy, they will both lose profits but not as much as if one store chose to maintain high prices while the other lowers them. Therefore, the Nash Equilibrium in this case is for both stores to reduce prices. This scenario depicts the Prisoner's Dilemma as both stores would have been better off if they didn't reduce prices, but they couldn't trust the other store to maintain its price. As a result, both stores ended up losing profits by reducing their prices.
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In 2020, Caterpillar Incorporated had about 540 million shares outstanding. Their book value was $46.0 per share, and the market price was $110.30 per share. The company's balance sheet shows that the company had $2.67 billion of long-term debt, which was currently selling near par value.
a. What was Caterpillar's book debt-to-value ratio? Note: Do not round intermediate calculations. Enter your answer as a decimal rounded to 2 decimal places.
b. What was its market debt-to-value ratio? Note: Do not round intermediate calculations. Enter your answer as a decimal rounded to 2 decimal places.
c. Which measure should you use to calculate the company's cost of capital?
a. Book debt-to-value ratio
b. Markeet debt-to-value ratio
c. Measure
Caterpillar's book debt-to-value ration in 2020 with 540 million shares outstanding is 10.75%. Its market debt-to-value ratio is 4.48%. Market debt-to-value ratio should be used to calculate the company's cost of capital. The correct option is b.
a. Calculation of book debt-to-value ratio :
Book debt-to-value ratio is calculated by dividing the book value of debt by the total book value of the company's equity. To get the ratio, first, we must compute the value of debt from the company's balance sheet. The value of the debt at face value is the number that must be used for the book value of the debt.
Book value of debt = Long-term debt at par value = $2.67 billion, and
Book value of equity = Book value per share x Number of shares
= $46.0 x 540 million
= $24.84 billion.
Book debt-to-value ratio = Book value of debt / Book value of equity
= $2.67 billion / $24.84 billion
= 0.1075 or 10.75%.
b. Calculation of market debt-to-value ratio :
The market debt-to-value ratio is computed by dividing the market value of the company's debt by the market value of its equity.
Market value of debt = Face value of debt, because it is selling near par.
Therefore,Market value of debt = Book value of debt = $2.67 billion and
Market value of equity = Market value per share x Number of shares = $110.30 x 540 million = $59.562 billion.
Market debt-to-value ratio = Market value of debt / Market value of equity
= $2.67 billion / $59.562 billion
= 0.0448 or 4.48%.
c. The company's cost of capital should be measured using the market debt-to-value ratio, since it represents the present value of future debt repayments and the market's valuation of the company. The market debt-to-value ratio is used to calculate the after-tax cost of debt and the cost of equity, both of which are components of the company's cost of capital. The correct option is b.
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Case study 1 - Laura Smith, Yola
When 26-year-old Laura Smith opened a yogurt and coffee shop in Washington, D.C. in 2010, she thought she had a winning formula with D.C.’s only fresh yogurt bar. Less than two years later, Yola closed its doors and Smith was looking for a new career. There were several reasons Yola didn’t make it, not least of all the very high rent cost. Yet Smith also acknowledges that an incorrect leadership style hurt the business.
Smith says that if she could have a ‘‘do-over,’’ she would provide more structure, more rules, and more boundaries for her employees, something that is needed in a business where most employees are young and have little work experience. Smith wanted to run her business by allowing employees to have the freedom to express their personal creativity, and she hated the idea of ‘‘telling grown adults when they can take breaks, exactly how to slice a scone out of a baking sheet, and exactly how many minutes late they can be.’’ However, she soon found that her business became characterized by an attitude of permissiveness, where many employees showed up late, performed sloppy work, or did as little as possible while they were on the clock. No one was happy with the work environment.
Smith realized that her employees needed and even wanted to be told what and how to do things. ‘‘It’s the thing I wish I could go back and do over—not because it would have saved my business but because everyone, myself included, would have been so much happier,’’ she says.
Questions
1. Comment on Laura’s leadership style.
2. What is the level of readiness of her employees
Laura's overly permissive and structure-lacking leadership style, combined with her young and inexperienced employees, resulted in accountability issues, punctuality problems, and subpar work performance, ultimately leading to the failure of her business.
1. Comment on Laura's leadership style:
Laura Smith's leadership style can be characterized as overly permissive and lacking in structure. She believed in providing employees with the freedom to express their personal creativity and was against implementing strict rules and boundaries. While her intention was to create a positive work environment, this approach resulted in a lack of accountability and discipline within the business. Employees took advantage of the permissiveness, leading to issues such as late arrivals, sloppy work, and a general dissatisfaction with the work environment. Smith acknowledges that her leadership style was incorrect and recognizes the need for more structure and rules in order to establish a more effective and productive business.
2. The level of readiness of her employees:
Based on the information provided, the level of readiness of Laura Smith's employees can be described as relatively low. Most of the employees were young and had little work experience, which suggests they may have lacked the necessary skills, discipline, and professional habits required to excel in their roles. Smith's approach of providing freedom without clear guidance and expectations contributed to a lack of accountability and a subpar work ethic among the employees. This indicates that the employees were not adequately prepared to take on their responsibilities and would have benefited from more guidance, structure, and boundaries to enhance their readiness and improve their performance.
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Give me an example of a real life situation when a firm increase
supply during the Covid-19 Pandemic due to the (determinant factors
of supply : technological change).
One real-life situation when a firm increases supply during the Covid-19 Pandemic due to the determinant factors of supply (technological change) is the increase in the production of medical supplies and equipment.
The Covid-19 pandemic brought about an increase in the demand for medical supplies such as ventilators, personal protective equipment (PPE), face masks, and gloves. With technological advancements in the production of medical supplies and equipment, firms were able to increase their supply to meet the increasing demand. For example, 3M, a company that produces N95 face masks, increased its production of masks by over 30%.
Similarly, General Motors (GM) increased its production of ventilators from 100 per week to 10,000 per month through technological changes in its production processes. Technological advancements and increased production helped these firms to respond quickly to the increase in demand for medical supplies during the Covid-19 pandemic.
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Who were exposed as poor or bad leaders and senior managers in
the Big 4, by the Royal Commission, and why?
The Royal Commission exposed several poor or bad leaders and senior managers within the Big 4 accounting firms. The commission's investigation revealed systemic issues, unethical practices, and failures in governance and oversight. These issues led to a loss of public trust and confidence in the firms.
The Royal Commission specifically highlighted individuals in leadership positions within the Big 4 accounting firms who demonstrated questionable behaviour and leadership practices. These leaders were found to prioritize profit over ethical conduct, neglect their responsibilities to act in the best interests of clients and foster a culture of non-compliance with regulations and standards. Additionally, the commission uncovered instances where senior managers failed to adequately address conflicts of interest and lacked appropriate oversight, allowing misconduct to persist within the organizations. Overall, the Royal Commission exposed a significant breakdown in leadership and senior management within the Big 4, raising concerns about their ability to uphold their professional obligations and responsibilities.
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How long does it take for your money to double when invested at
the rate of 3% with annual compounding
it would take approximately 24 years for your money to double when invested at a 3% interest rate with annual compounding.
To determine how long it takes for money to double when invested at a 3% interest rate with annual compounding, use the Rule of 72. The Rule of 72 is a quick approximation that gives an estimate of the time it takes for an investment to double based on the interest rate.
The formula for the Rule of 72 is:
Number of years to double = 72 / Interest rate
In this case, the interest rate is 3%. Plugging it into the formula, we get:
Number of years to double = 72 / 3 = 24 years
Therefore, it would take approximately 24 years for your money to double when invested at a 3% interest rate with annual compounding.
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patrick and kelsey are married filing jointly in 2020. patrick
works at a car dealership and kelsey is a nurse at a hospital.
during the year they received $145000 in total together for
salaries from Determining Gross Income (5 points) Patrick and Kelty are married filing jestly in 2020 Patrick works at a car dealership, and Kebey is a more at a hospital. During the year, they received $145,000 in
The total recognition gross income for Patrick and Kelsey in 2020 is $158,950. Therefore, the correct option is C.
Gross income is a person's income before taxes or other deductions are made. Gross income includes all types of income, such as salaries, wages, bonuses, and tips. The gross income of Patrick and Kelsey in 2020 is calculated below:
Patrick earned a total of $145000 in salary during the year.
Kelsey earned $145000 in salary plus $2150 in employer-paid medical and dental insurance premiums.
Kelsey also inherited $11800 from her grandmother.
The total gross income for the year is the sum of these amounts:
$145000 (Patrick's salary) + $145000 (Kelsey's salary) + $2150 (employer-paid insurance premiums) + $11800 (inheritance) = $158,950
Therefore, the total recognition of gross income is $158,950 which corresponds to option C.
Note: The question is incomplete. The complete question probably is: Patrick and Kelsey are married filing jointly in 2020. Patrick works at a car dealership, and Kelsey is a nurse at a hospital. During the year. they received $145000 in total (together) for salaries from their employers. in addition, the hospital Kelsey worked for pay $2150 for the employers portion of their medical and dental health insurance premiums. Finally, Kelseys grandmother passed away and left her $11800. Determine the total recognition gross income for Patrick and Kelsey in 2020. a. $147150 b. $156800 c. $158950 d. none of the answer.
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Dimitri Designs has capacity to produce 30,000 desk chairs per year and is currently selling all 30,000 for $240 each. Country Enterprises has approached Dimitri to buy 800 chairs for $210 each. Dimit
Dimitri Designs should not accept the special order. This decision will have no impact on its profits.
Dimitri Designs has capacity to produce 30,000 desk chairs per year and is currently selling all 30,000 for $240 each. Country Enterprises has approached Dimitri to buy 800 chairs for $210 each. Dimit normal variable cost is $165 per chair, including $50 per unit in direct labor per chair. Dimitri can produce the special order on an overtime shift, which means that direct labor would be paid overtime at 150% of the normal pay rate. The annual fixed costs will be unaffected by the special order and the contract will not disrupt any of Dimitri's other operations.
Normal variable cost per unit = $165 per unit Variable cost per unit including direct labor = $165, including $50 in direct labor per chair Sale price = $240 per unit Special order price = $210 per unit Incremental revenue = (800 × $210) - (800 × $165) = $33,600 - $132,000 = - $98,400. Because the incremental dollar amount is negative, Dimitri Designs should not accept the special order. This decision will have no impact on its profits. Therefore, there will be no increase or decrease in the impact on profit.
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Dimitri Designs has capacity to produce 30,000 desk chairs per year and is currently selling all 30,000 for $240 each. Country Enterprises has approached Dimitri to buy 800 chairs for $210 each. Dimitri’s normal variable cost is $165 per chair, including $50 per unit in direct labor per chair. Dimitri can produce the special order on an overtime shift, which means that direct labor would be paid overtime at 150% of the normal pay rate. The annual fixed costs will be unaffected by the special order and the contract will not disrupt any of Dimitri’s other operations. PLEASE NOTE: All dollar amounts are rounded to whole dollars and shown with "$" and commas as needed (i.e. $12,345). If Dimitri accepts the offer, what will be the impact on profits of accepting the order? Incremental dollar amount = .________ Increase or Decrease?
Ronald Lockhart, who was deaf, worked for FedEx as a package handler. Although fluent in American Sign Language, he could not read lips. After 9/11, the company held meetings to talk about security issues. Lockhart complained to the EEOC that he could not understand these discussions. FedEx fired him. Has FedEx violated the law?
Ronald Lockhart was a deaf package handler working for FedEx who filed a complaint to the Equal Employment Opportunity Commission (EEOC).
After 9/11, the company had security issue meetings where Lockhart raised a concern that he couldn't understand. Although fluent in American Sign Language, Lockhart couldn't read lips, and so he lodged his complaints to EEOC. He was fired by FedEx; has the company violated the law?Yes, FedEx violated the law. FedEx's firing of Ronald Lockhart was a violation of the law. It was a failure to make reasonable accommodations to his hearing disability, as provided for under the Americans with Disabilities Act of 1990 (ADA). Since the employee was fluent in American Sign Language, the employer should have made efforts to accommodate his hearing disability by providing an interpreter who could help him understand discussions during meetings held by the company. If the employee was not reasonably accommodated, as provided for by the law, it would lead to a violation.
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A combine harvester has been sold by a firm in Laval, Canada. The buyer is located in Frome, England. It is being shipped 30 km. by truck from Laval to the Port of Montreal in Canada, and from there it will go 5000 km. by ship to Liverpool, England. From Liverpool it will go 300 km. by truck to Frome. The transportation from Montreal to Liverpool is known as:
a on-carriage.
b carrier free.
c precarriage.
d main carriage
The transportation from Montreal to Liverpool is known as "precarriage." Thus, the correct option is (c).
In the given scenario, the process of transporting the combine harvester from Montreal, Canada, to Liverpool, England involves multiple stages. The first stage involves shipping the harvester by truck from Laval to the Port of Montreal, covering a distance of 30 km. This initial leg of transportation is referred to as "precarriage."
Once the harvester reaches the Port of Montreal, it will be loaded onto a ship for the main part of the journey, spanning a distance of 5000 km. from Montreal to Liverpool. After arriving in Liverpool, the harvester will undergo another truck journey of 300 km. to reach its final destination in Frome, England. However, it is specifically the initial truck transportation from Laval to the Port of Montreal that is referred to as "precarriage" in the context of this shipping process.
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