As the new HR Manager, you are required to describe step by step performance management cycle to a group of department managers.
What are the steps?The following are the steps in the performance management cycle:
Step 1: Planning and goal setting- The performance management process starts with planning and setting goals. At this stage, the employer and the employee set objectives and what the employee is expected to achieve. The objectives set should be achievable, measurable, and specific.
Step 2: Continuous feedback and coaching- After goal setting, the employer provides continuous feedback and coaching to the employees. The continuous feedback is critical as it helps the employees to correct their mistakes and improve their performance.
Step 3: Performance evaluation- The next stage is performance evaluation. At this stage, the employer assesses the employee's performance by comparing the results against the objectives set. Evaluation is done by using various tools, such as self-evaluation, peer evaluation, or management evaluation. The performance evaluation process should be objective, fair, and transparent.
Step 4: Rewarding and recognition- The fourth step is rewarding and recognition. Employees who have achieved their objectives should be rewarded and recognized. Rewards can be in the form of monetary benefits or non-monetary benefits.
Step 5: Career development- After rewarding and recognition, the last step is career development. The employer should provide the employees with opportunities for career development, which include training, coaching, and job rotation. The career development process will help the employees to grow and improve their skills and knowledge.
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An investor invests 45% of his wealth in a risky asset with an expected rate of return of 0.15 and a variance of 0.13 and 55% in a T-bill that pays 6%. What is his portfolio's expected return?
a.
0.1390
b.
0.1095
c.
0.0985
d.
0.1005
Let A be the proportion of money invested in risky assets, B be the proportion of money invested in T-bills and R be the rate of return for the portfolio. Therefore, A = 45%, and B = 55%.R = A x Ra + B x Rb (A = proportion of money invested in risky assets.
Ra = expected return of risky assets, B = proportion of money invested in T-bills, and Rb = expected return of T-bills) R = 0.45 x 0.15 + 0.55 x 0.06 = 0.1125Therefore, the expected return for the portfolio is 0.1125 which is equivalent to 0.1105 (rounded to four decimal places).Answer: b. 0.1095Let A be the proportion of money invested in risky assets, B be the proportion of money invested in T-bills and R be the rate of return for the portfolio. Therefore, A = 45%, and B = 55%.R = A x Ra + B x Rb (A = proportion of money invested in risky assets.
Ra = expected return of risky assets, B = proportion of money invested in T-bills, and Rb = expected return of T-bills)R = 0.45 x 0.15 + 0.55 x 0.06 = 0.1125Therefore, the expected return for the portfolio is 0.1125 which is equivalent to 0.1105 (rounded to four decimal places).Answer: b. 0.1095Let A be the proportion of money invested in risky assets, B be the proportion of money invested in T-bills and R be the rate of return for the portfolio. Therefore, A = 45%, and B = 55%.R = A x Ra + B x Rb (A = proportion of money invested in risky assets. Ra = expected return of risky assets, B = proportion of money invested in T-bills, and Rb = expected return of T-bills) Therefore, the expected return for the portfolio is 0.1125 which is equivalent to 0.1105 (rounded to four decimal places).Answer: b. 0.1095Let A be the proportion of money invested in risky assets, B be the proportion of money invested in T-bills and R be the rate of return for the portfolio. Therefore, A = 45%, and B = 55%.R = A x Ra + B x Rb (A = proportion of money invested in risky assets.
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sport communication within American society from the standpoint of sports-figures sharing their political viewpoints. What is an example you can think of relating to a sports-related figure or team/organization inserting themselves into a politicized conversation? How were they received? What were the consequences?
One example of sports-figures sharing their political viewpoints and inserting themselves into politicized conversations is when Colin Kaepernick, former NFL quarterback, began kneeling during the national anthem in protest against police brutality and racial inequality in America.
He received both support and backlash for his actions, with some praising him for using his platform to bring attention to social justice issues and others criticizing him for disrespecting the flag and the military.
The consequences for Kaepernick were significant, as he faced backlash from fans, teams, and even the president of the United States, and ultimately lost his job in the NFL.
However, his actions sparked a broader conversation about the intersection of sports and politics, and inspired other athletes to use their platforms for social activism.
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Assume the following sales data for a company: Current $764,286 year Preceding 596,362 year What is the percentage increase in sales from the preceding year to the current year (rounded to one decimal place)? Oa. 50.1% Ob. 6.2% Oc. 28.2% Od 22.0%
The percentage increase in sales from the preceding year to the current year (rounded to one decimal place) is 28.1% (Option C).
Given the sales data for a company:
Current year = $764,286Preceding year = $596,362
We need to calculate the percentage increase in sales from the preceding year to the current year (rounded to one decimal place).
To find the percentage increase, we use the formula:
Percentage increase = (Current year sales - Preceding year sales) / Preceding year sales × 100
Putting the given values in the formula, we get:
Percentage increase = (764,286 - 596,362) / 596,362 × 100= 167924 / 596,362 × 100= 0.28125 × 100= 28.125%
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The following information was taken from the December 31, 2020, annual report of WestCon Developments.
($ millions)
2020 2019
Net sales $ 7,320 $ 5,440
Accounts receivable 602 490
Industry Average
Accounts receivable turnover 16.4
Days’ sales uncollected 21.0
Required:
1. Calculate accounts receivable turnover and days’ sales uncollected for the year 2020. (Assume 365 days in a year. Round your answers to 2 decimal places.)
2. Compare your calculations in (1) to the industry average and select whether the performance of WestCon's is Favourable or Unfavourable
1. The account receivable turnover and days’ sales uncollected for the year 2020 are 13.4 and 30.0 days respectively.
2. Comparing to the industry average the performance of WestCon's is unfavourable.
1. Accounts receivable turnover is given by the formula:
Accounts Receivable Turnover = Net Credit Sales / Average Accounts Receivable
Here, Net Sales = $7,320 million, Accounts Receivable = $602 million
Therefore,
Average Accounts Receivable = (Beginning Accounts Receivable + Ending Accounts Receivable) / 2
Let's suppose the Beginning Accounts Receivable = BAEnding Accounts Receivable = EAAverage Accounts Receivable = (BA + EA) / 2 = ($490 + $602) / 2 = $546 million
Hence,
Accounts Receivable Turnover = $7,320 / $546 = 13.4 (approx)
Days’ Sales Uncollected is given by the formula:
Days’ Sales Uncollected = (Accounts Receivable / Net Sales) * 365
Here, Accounts Receivable = $602 million, Net Sales = $7,320 million
Therefore,
Days’ Sales Uncollected = ($602 / $7,320) * 365 = 30.04 ≈ 30.0 days (approx)
2. Comparing the calculations in (1) to the industry average as as follows.
WestCon's Accounts Receivable Turnover = 13.4
Industry Average = 16.4
WestCon's Accounts Receivable Turnover is unfavourable as it is lower than the industry average.
WestCon's Days’ Sales Uncollected = 30.0
Industry Average = 21.0
WestCon's Days’ Sales Uncollected is unfavourable as it is higher than the industry average.
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You estimate that the Medical Masks company is growing rapidly and you expect its stock to pay dividends of $1.60, $2.80, and $3.80 per share at the end of each of the next three years (t-1, t-2, and t-3). At the end of the third year, you expect the stock to be trading (selling) for $70.00 per share. Assume you want to buy it today and sell it at the end of the third year. If the appropriate required return for this stock is 10%, what should be your estimate of the value (or price) of the stock today? [Enter your answer showing two decimal places. Do not enter a dollar sign or other symbol. For example, enter $97.79 as 97.79]
The term "present value" (PV) refers to the current value of a future financial asset or cash flow that has been discounted to reflect the time value of money. Given that cash on hand at the time can be invested or used to make future investments, it is the worth of an anticipated income, payment, or investment as it stands today.
Let's calculate the Present Value (PV) of all three dividends first.
PV of the first dividend = $1.60 / (1 + 0.10)1 = $1.45PV of the second dividend = $2.80 / (1 + 0.10)2 = $2.18PV of the third dividend = $3.80 / (1 + 0.10)3 = $2.68
Now, let's calculate the PV of the expected selling price.PV of the expected selling price = $70 / (1 + 0.10)3 = $47.95Using the formula for the present value of a stock, we can calculate the current price of the stock:
P0 = [D1 / (1 + r)1] + [D2 / (1 + r)2] + [D3 / (1 + r)3] + [P3 / (1 + r)3]
where P0 is the current price of the stockD1, D2, and D3 are the dividends paid at the end of years 1, 2, and 3, respectively P3 is the expected selling price at the end of year 3r is the required rate of return on the stock.
Substituting the given values:
P0 = [$1.45 / (1 + 0.10)1] + [$2.18 / (1 + 0.10)2] + [$2.68 / (1 + 0.10)3] + [$47.95 / (1 + 0.10)3]P0 = $1.32 + $1.69 + $1.89 + $35.51P0 = $40.41.
Therefore, the estimate of the value (or price) of the stock today is $40.41.
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An economy with fixed prices and unemployed labour has the following relationships: Consumption: C = 140 +0.6(Y-T) Government expenditure: G = 100 Lump sum direct tax: T = 100 Investment: I = 200-10 r Money demand: MD = 0.1 Y - 5 r Money supply: MS = 50. Where Y is national income, and r is the interest rate (in percent). (a) Derive the IS and LM curves for this economy. (b) Calculate equilibrium national income and the interest rate. (c) Now suppose that full employment national income is Y = 900. The government decides to increase both G and T to 200. Will it achieve full employment? (d) Using your results in (b) and (c) above, comment on the value of the balanced budget multiplier. (e) [Suppose instead that, starting from the original position in (a) and (b) above, the central bank aims to achieve full employment (Y = 900) by using monetary policy. What interest rate should it aim to set and by how much should it increase the money supply? [Hint: start with the IS curve].
The IS curve represents the equilibrium condition in the goods market, while the LM curve represents the equilibrium condition in the money market. By deriving these curves from the given relationships, we can determine the equilibrium national income and interest rate by finding the intersection point of the IS and LM curves.
(a) The IS curve represents the equilibrium condition in the goods market, where aggregate output (Y) is equal to aggregate demand. From the given relationships, we can derive the IS curve as follows:
Y = C + I + G
Y = 140 + 0.6(Y - T) + (200 - 10r) + 100
Simplifying the equation, we get:
Y = 440 + 0.6Y - 0.6T - 10r
The LM curve represents the equilibrium condition in the money market, where the demand for money is equal to the money supply. From the given relationships, we can derive the LM curve as follows:
MD = MS
0.1Y - 5r = 50
Simplifying the equation, we get:
Y = 500 + 50r
(b) To find the equilibrium national income and interest rate, we need to find the intersection of the IS and LM curves. Equating the two equations, we get:
440 + 0.6Y - 0.6T - 10r = 500 + 50r
Solving this equation will give us the equilibrium values of Y and r.
(c) To determine if full employment can be achieved, we compare the full employment national income (Y = 900) with the equilibrium national income found in part (b). If the equilibrium national income is less than 900, then full employment cannot be achieved with the given policy changes.
(d) The balanced budget multiplier can be calculated by dividing the change in equilibrium national income (Y) by the change in government expenditure (ΔG) or lump sum taxes (ΔT). This can be determined using the results from part (b) and the policy changes in part (c).
(e) To achieve full employment using monetary policy, the central bank needs to set the interest rate (r) and adjust the money supply (MS) accordingly. Starting from the equilibrium in part (b), the central bank should aim to set the interest rate that corresponds to the desired full employment level of income (Y = 900) by increasing or decreasing the money supply accordingly. The specific interest rate and the change in money supply required can be determined by analyzing the IS curve and its relationship with the interest rate and income.
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Do you think there is greater value in having "HR at the table" or "HR on the table". Discuss
Having "HR at the table" holds greater value than "HR on the table."
"HR at the table" implies that HR professionals are involved in strategic decision-making processes and have a seat at the table where important discussions and decisions take place. This indicates that HR is seen as a strategic partner and their expertise is valued in shaping organizational strategies, policies, and practices. By having HR professionals at the table, organizations can leverage their insights and knowledge to align human capital strategies with business goals, foster a positive work culture, and address critical people-related issues effectively. It promotes collaboration, ensures HR considerations are integrated into decision-making, and enables organizations to make informed choices that impact their workforce.
On the other hand, "HR on the table" suggests that HR is treated as an object or a topic of discussion rather than an active participant. This positioning may limit HR's influence and ability to contribute strategically. While HR may still provide input and information when placed "on the table," their involvement may be more transactional or reactive, rather than proactive and strategic.
Overall, having "HR at the table" signifies the recognition and utilization of HR's expertise and strategic value, leading to better organizational outcomes.
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Hickock Mining is evaluating when to open a gold mine. The mine has 46,200 ounces of gold left that can be mined, and mining operations will produce 6,600 ounces per year. The required return on the gold mine is 12 percent, and it will cost $34.6 million to open the mine. When the mine is opened, the company will sign a contract that will guarantee the price of gold for the remaining life of the mine. If the mine is opened today, each ounce of gold will generate an aftertax cash flow of $1,460 per ounce. If the company waits one year, there is a 60 percent probability that the contract price will generate an aftertax cash flow of $1,660 per ounce and a 40 percent probability that the aftertax cash flow will be $1,360 per ounce.
Q: What is the value of the option to wait?
The value of the option to wait with the given probability and expected cash flow is approximately equal to -$757,240.
Ounces of gold left in the mine = 46,200 ounces
Gold production per year = 6,600 ounces
Required return on the gold mine = 12%
Cost to open the mine = $34.6 million
Contract price if opened today = $1,460 per ounce
To calculate the value of the option to wait,
Compare the expected cash flows from opening the mine today with the expected cash flows from waiting one year
Consider the probabilities associated with each scenario.
Probabilities for contract price after one year,
60% probability of $1,660 per ounce
40% probability of $1,360 per ounce
Calculate the expected cash flows from opening the mine today.
Expected cash flow per ounce
= Contract price - Cost to open the mine
= $1,460 - $34.6 million / 46,200
= $616.90
Expected cash flows from opening the mine today
= Expected cash flow per ounce × Gold production per year
= $616.90 × 6,600
= $4,069,740
Calculate the expected cash flows from waiting one year.
Expected cash flows after one year
= (60% probability × Cash flow with $1,660 per ounce) + (40% probability × Cash flow with $1,360 per ounce)
= (0.6 × $1,660 + 0.4 × $1,360) × 6,600
= $3,704,400
Calculate the present value of the expected cash flows from waiting one year.
Present value of expected cash flows after one year
= Expected cash flows after one year / (1 + Required return)¹
= $3,704,400 / (1 + 0.12)¹
= $3,312,500
Calculate the value of the option to wait.
Value of the option to wait
= Present value of expected cash flows after one year - Expected cash flows from opening the mine today
= $3,312,500 - $4,069,740
≈ -$757,240
Therefore, the value of the option to wait is approximately -$757,240. This negative value suggests that it is more beneficial to open the mine today rather than wait.
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A stock had returns of 15, 22, -7, -5, 3, and 9 percent over the past six years, respectively. What was the average geometric return? O a. 5.66 percent O b. 6.83 percent 8.01 percent O d. 8.37 percent
The average geometric return of a stock that had returns of 15, 22, -7, -5, 3, and 9 percent over the past six years, respectively is 5.66 percent. Option A: 5.66 percent.
The formula to find the geometric return is:(1+r1)(1+r2)(1+r3)...(1+rn)^1/n - 1,
where r is the return rate and n is the number of years. Firstly, we need to convert the percentage values into decimal values and then add 1 to each of them. This will give us:1.15, 1.22, 0.93, 0.95, 1.03, and 1.09Next, we need to multiply these values together and then take the nth root of the result. Here, n is the number of years, which is 6 in this case.
So, the calculation becomes:(1.15)*(1.22)*(0.93)*(0.95)*(1.03)*(1.09)^(1/6) - 1= (1.8984)^(1/6) - 1= 1.0566 - 1= 0.0566Therefore, the average geometric return is 5.66 percent.
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What factors should be considered before a firm allocates
resources towards improving its customer satisfaction ratings?
Before a firm allocates resources towards improving its customer satisfaction ratings, factors that should be considered are identifying the specific areas of customer dissatisfaction, analyzing competitors' performance, etc.
Improving customer satisfaction ratings requires a systematic approach that takes into account various factors. First and foremost, the firm should identify the specific areas where customers are dissatisfied. This can be done through surveys, feedback mechanisms, and analysis of customer complaints. Understanding the root causes of dissatisfaction helps in targeting resources effectively and addressing the most pressing issues.
Additionally, the potential impact on the firm's reputation and profitability should be carefully evaluated. Negative customer experiences can lead to a tarnished brand image, decreased customer loyalty, and ultimately, reduced profitability. On the other hand, enhancing customer satisfaction can result in positive word-of-mouth, increased customer referrals, and a stronger market position.
The feasibility and cost-effectiveness of improvement initiatives should also be considered. It is important to assess the resources required for implementing changes, such as technology upgrades, employee training, or process improvements. A cost-benefit analysis can help determine whether the expected gains in customer satisfaction outweigh the investment required.
Furthermore, analyzing competitors' performance is crucial. Benchmarking customer satisfaction ratings against industry peers provides insights into the firm's relative position and highlights areas where improvement is necessary to stay competitive. It also allows for learning from best practices and innovative approaches adopted by successful competitors.
Finally, long-term customer retention and loyalty should be taken into account. Improving customer satisfaction is not just about addressing immediate concerns; it should be viewed as a strategic investment in building lasting relationships with customers. Satisfied customers are more likely to stay loyal, repeat their purchases, and become advocates for the brand, leading to sustained business growth.
Considering these factors before allocating resources towards improving customer satisfaction ratings ensures a comprehensive and informed approach. It enables the firm to prioritize actions, allocate resources effectively, and drive meaningful improvements that positively impact customer experiences and overall business performance.
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generally, people with better education have higher incomes and better health status.
True or false
Answer:
True
Because they are educated and they have many opportunities
The statement "generally, people with better education have higher incomes and better health status" is true. According to research, there is a strong correlation between an individual's educational attainment and their earnings, which can impact their health and wellbeing.
A higher level of education allows an individual to get a well-paying job, have better access to health services, and improve their health status. In general, higher education levels are associated with better physical and mental health, including lower rates of chronic disease, less chance of risky behavior, and higher life expectancy.
Therefore, people who have a better education have higher incomes and better health status than those who don't.with better physical and mental health, including lower rates of chronic disease, less chance of risky behavior, and higher life expectancy.
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Answer ALL questions.
1. Discuss the procedure on redemption of preference shares as
provided in the provision of the Companies Act 2016. (30 marks)
The procedure of redemption of preference shares as provided in the provision of the Companies Act 2016 is an important concept in accounting and finance. It involves certain procedures that have to be followed by the company to redeem preference shares. The procedure of redemption of preference shares as provided in the provision of the Companies Act 2016 is given below:
Step 1: Check Articles of Association (AoA): The company should first check its Articles of Association to ensure that it has the authority to redeem the preference shares. This is because the AoA of a company can restrict the company's power to redeem its shares.
Step 2: Give Notice to Preference Shareholders: After checking the AoA, the company must give a notice of the proposed redemption to all preference shareholders. The notice should include the following information:- The date of redemption.- The number of preference shares to be redeemed.- The price at which the preference shares are to be redeemed.- The reasons for the redemption.- The sources of funds to be used for the redemption.- The time period for the preference shareholders to exercise their right to redeem their shares.
Step 3: Obtain Approval: Once the notice is given, the company must obtain the approval of the preference shareholders in a general meeting. This approval must be obtained by a special resolution passed by the preference shareholders.
Step 4: Register the Redemption: After obtaining the approval, the company must register the redemption with the Registrar of Companies within one month of the redemption.
Step 5: Payment: After registering the redemption, the company must pay the amount due to the preference shareholders and cancel the redeemed shares.
Step 6: Issue New Shares: Finally, if the company wants to maintain the same capital structure, it may issue new preference shares to replace the redeemed shares. This will maintain the same balance between debt and equity. If new shares are issued, the company must follow the procedure for issuing new shares as provided in the provision of the Companies Act 2016.
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Immediate Predecessor(s) A 3 B 6 A с 9 A D 11 A E 5 A F 12 B,C G 11 D,E H 3 F.G What is the overall duration of the project (in weeks)? Number weeks What is the earliest week you could start activity H? (Write the week number in the field below.) Number What is the earliest week you could finish activity F? Number What is the latest week you could start activity A? Number What is the latest week you could finish activity C? Number What is the slack time for activity B?
The project overall length is (in weeks):The project's overall duration is the distance between its beginning (A) and ending (F) that is the longest. To establish the critical route, we must figure out the earliest start and end timings for each task. earliest start of activity Most recent Finish, A 0 3 B 3 9 C 3 12 D 3 14 E 8 13 F 20 32 G 14 25 H 35 38, The critical path's 32-week length represents the project's entire duration.
The Latin term projectum, from which the English word project is derived, is derived from the Latin verb proicere, which means "before an action." Pro- implies precedence, anything that occurs before something else critical route in time (contrasting with the Greek ), and iacere, which means "to do."
Thus, the original meaning of the term "project" was "before an action."
When the term was first introduced to English, it meant a plan for something rather than the act of carrying out this plan.
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You are shopping for a car and read the following advertisement in the newspaper: "Own a new Spitfire! No money down. Four annual payments of just $17,000." You have shopped around and know that you can buy a Spitfire for cash for $55,250. What is the interest rate the dealer is advertising (what is the IRR of the loan in the advertisement)? Assume that you must make the annual payments at the end of each year. (Hint: Use a calculator or excel spreadsheet to find the IRR.) The internal rate of return (IRR) is ___%. (Round to two decimal places.)
The interest rate the dealer is advertising (what is the IRR of the loan in the advertisement) is 10.15%. IRR (Internal Rate of Return) is a financial metric that assists investors in determining whether or not to invest in a particular venture.
This metric is commonly used to evaluate investments with multiple cash flows. The IRR is the rate at which the net present value (NPV) of all cash flows from an investment is zero. In other words, it is the interest rate at which the net present value of all future cash flows equals the initial investment.In this question, the dealer is advertising the interest rate at which you can pay back a loan for the Spitfire in four annual payments of $17,000 with no down payment. You can buy a Spitfire for $55,250 in cash. The cost of financing the car is the difference between the cost of buying the car with cash and the cost of financing the car. It is therefore necessary to calculate the interest rate for the loan using the given information.Using the IRR function in Excel, we may calculate the interest rate on the loan. The IRR formula in Excel can be found by clicking on the "fx" button in the toolbar and then typing "IRR" in the search box. The IRR of the loan is 10.15%.
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Total landed cost can include the cost associated with foreign
currency exchange (e.g., conversion of Chinese Yuan to U.S.
dollars).This statement is ____________T or F
The given statement "Total landed cost can include the cost associated with foreign currency exchange (e.g., conversion of Chinese Yuan to U.S. dollars)" is TRUE (T).'
Total landed cost (TLC) is a supply chain and logistics management term used to describe the costs associated with transporting and importing goods. The definition of TLC varies, but it generally includes transportation fees, customs duties, brokerage fees, taxes, and any other expenses that may be incurred when moving goods from one location to another.
Therefore, it is evident that Total landed cost can include the cost associated with foreign currency exchange, such as the conversion of Chinese Yuan to U.S. dollars. When importing goods, foreign exchange fees may be incurred if the transaction is made in a foreign currency that must be converted to the local currency
For example, let us assume that a company based in the USA imports a product from China, where the cost of production is $10,000. The product is transported from China to the USA for a shipping fee of $1,000. Customs duties of $500 are incurred while the product is in transit, and foreign exchange charges of $200 are incurred because the payment was made in Chinese yuan. Hence the total landed cost of the product is:
Total Landed Cost (TLC) = $10,000 (product cost) + $1,000 (shipping fees) + $500 (customs duties) + $200 (foreign exchange charges) = $11,700. Therefore, the company will incur a total cost of $11,700 to import the product from China. The cost associated with foreign currency exchange (e.g., conversion of Chinese Yuan to U.S. dollars) is a part of the total landed cost.
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Which of the following is NOT CORRECT? a. The present value of a 5-year, $100 annuity due will exceed the present value of a 5-year, $100 ordinary annuity. b. If a loan has a nominal rate of 10%, then the effective rate can never be less than 10%. c. If there is annual compounding, then the effective, periodic, and nominal rates of interest are all the same. d. An investment that compounds interest semiannually, and has a nominal rate of 10%, will have an effective rate less than 10%. e. The proportion of the payment of a fully amortized loan that goes toward interest declines over time.
Answer:
c. If there is annual compounding, then the effective, periodic, and nominal rates of interest are all the same.
Explanation:
This statement is not correct. The effective rate, periodic rate, and nominal rate of interest are different concepts and may not be the same when compounding occurs. The nominal rate of interest is the stated or advertised rate, while the effective rate takes into account the compounding frequency. The periodic rate refers to the interest rate for a specific time period.
In the case of annual compounding, the nominal rate and effective rate may be the same. However, for compounding periods other than annually (e.g., semiannually, quarterly, monthly), the effective rate will be higher than the nominal rate. The effective rate accounts for the compounding effect and reflects the actual interest earned or paid over a specific period.
Therefore, statement c is incorrect.
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After attending a recent finance Webex seminar you were very concerned about the following statements made by the guest speaker: • "Budgeting is a complete waste of business resources" • "Ratio analysis has so many limitations that it is a useless exercise" • "Accounting Rate of Return is the best investment appraisal technique" • "Forget cash…. the shareholders want to see profit" You certainly disagree with the views of the guest speaker, but having only recently completed your module in accounting you lacked the confidence to argue in public with the speaker. Required: Explain why you disagreed with each of these statements. Maximum 50 words for each statement.
Budgeting: Budgeting is an essential part of financial management. The management of the organization determines the budget, which allocates resources to various departments. It helps to maintain the balance between the inflow and outflow of funds, which enables the organization to meet its financial goals. Therefore, budgeting is not a complete waste of business resources.
Ratio analysis: Ratio analysis is a valuable tool for financial management. It enables the organization to assess its performance and identify areas that require improvement. However, it has its limitations, such as not accounting for qualitative factors, which may impact the organization's performance. However, it is still a useful exercise for financial management.
Accounting Rate of Return: Accounting Rate of Return is a traditional method of investment appraisal. It calculates the profitability of the investment based on the average annual profit generated by the investment. However, it has many limitations, such as not accounting for the time value of money, which may result in incorrect investment decisions. Therefore, it is not the best investment appraisal technique.
Forget cash: Cash is an essential element of the business. It is required to meet the day-to-day expenses of the organization. Although shareholders want to see a profit, it does not mean that the organization can ignore cash. The organization needs to maintain a balance between profit and cash to meet its financial goals.
Budgeting: Budgeting is an essential part of financial management. It enables the management of the organization to allocate resources to various departments. The budget helps the organization to maintain a balance between the inflow and outflow of funds, which enables the organization to meet its financial goals. Therefore, budgeting is not a complete waste of business resources.
Ratio analysis: Ratio analysis is a valuable tool for financial management. It enables the organization to assess its performance and identify areas that require improvement. However, it has its limitations, such as not accounting for qualitative factors, which may impact the organization's performance. Despite its limitations, it is still a useful exercise for financial management.
Accounting Rate of Return: Accounting Rate of Return is a traditional method of investment appraisal. It calculates the profitability of the investment based on the average annual profit generated by the investment. However, it has many limitations, such as not accounting for the time value of money, which may result in incorrect investment decisions. Therefore, it is not the best investment appraisal technique.
Forget cash: Cash is an essential element of the business. It is required to meet the day-to-day expenses of the organization. Although shareholders want to see a profit, it does not mean that the organization can ignore cash. The organization needs to maintain a balance between profit and cash to meet its financial goals. Therefore, forgetting cash is not an appropriate strategy.
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According to Minksy a Business cycles are originated mainly by financial factors b Business cycles are originated mainly by labour market shocks c Business cycles are originated mainly by misguided monetary policy d Business cycles are originated mainly by real shocks
According to Minsky, the correct statement is: a) Business cycles are originated mainly by financial factors.
Minsky's financial instability hypothesis argues that business cycles are primarily driven by financial factors. He emphasized the role of speculative behavior, excessive borrowing, and the build-up of financial fragility in driving the fluctuations of the economy. According to Minsky, periods of stability and economic growth can lead to complacency and increasing levels of debt, eventually leading to financial crises and economic downturns.
While other factors such as labor market shocks, misguided monetary policy, and real shocks can also contribute to business cycles, Minsky's perspective places significant emphasis on the inherent instability and volatility of the financial sector as the main driver of economic fluctuations.
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creams paid a dividend of £150,000 this year. The required return of shareholders of companies in the same industry as creams is 11%, although it is expected that an additional risk premium of 1% will be applicable to creams, being a smaller company. Calculate the value of creams under following circumstances;
a. The current level of dividend is expected to remain unchanged for the foreseeable future.
b. The dividend is expected to grow at the rate of 2% per annum for the foreseeable future.
c. The current level of dividend is expected to remain unchanged for three years and then to grow at the rate of 2% per annum to perpetuity.
To calculate the value of Creams under the circumstances, we can use the Dividend Discount Model (DDM) which values a company based on the present value of its expected future dividends.
a. When the current level of dividend is expected to remain unchanged for the foreseeable future:
In this case, the value of Creams can be calculated by dividing the annual dividend by the required return, including the additional risk premium.
Value = Dividend / (Required return + Risk premium)
Value = £150,000 / (0.11 + 0.01) = £150,000 / 0.12 = £1,250,000
Therefore, the value of Creams is £1,250,000.
b. When the dividend is expected to grow at a rate of 2% per annum for the foreseeable future:
In this case, we need to calculate the present value of the expected future dividends, taking into account the growth rate. The formula is as follows:
Value = Dividend / (Required return - Growth rate)
Value = £150,000 / (0.11 - 0.02) = £150,000 / 0.09 = £1,666,666.67
Therefore, the value of Creams is approximately £1,666,666.67.
c. When the current level of dividend is expected to remain unchanged for three years and then grow at a rate of 2% per annum to perpetuity:
In this case, we need to calculate the present value of the dividends during the first three years and the perpetuity value of the growing dividends using the formula:
Value = [Dividend / (1 + Required return)^1] + [Dividend / (1 + Required return)^2] + [Dividend / (1 + Required return)^3] + [Dividend x (1 + Growth rate) / (Required return - Growth rate)]
Value = [£150,000 / (1 + 0.12)^1] + [£150,000 / (1 + 0.12)^2] + [£150,000 / (1 + 0.12)^3] + [£150,000 x (1 + 0.02) / (0.11 - 0.02)]
Calculating the values and summing them up will be the final result.
Therefore, the value of Creams under the circumstances can be calculated using the appropriate formula for each scenario.
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Which strategy best describes Apple's iPhone strategy for competitive advantage and which attribute best describes how customers evaluate iPhones? a. Cost strategy and credence attribute b. Cost leadership strategy and search attribute c. Response strategy and credence attribute d. Differentiation strategy and experience attribute e. Differentiation strategy and search attribute
The correct answer is: d. Differentiation strategy and experience attribute.
Apple's iPhone strategy for competitive advantage is based on differentiation. Apple focuses on creating unique and innovative features, designs, and user experiences that set their iPhones apart from competitors. They strive to offer a premium product that stands out in the market.
When evaluating iPhones, customers primarily consider the experience attribute. This refers to the overall user experience, including factors such as ease of use, design aesthetics, intuitive interface, performance, and reliability. Customers value the seamless integration of hardware and software, the quality of the user interface, and the smoothness of the overall experience when using an iPhone. These experiential aspects contribute to Apple's differentiation strategy and play a significant role in customers' evaluations and purchase decisions.
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Find the best bank to open a savings account if Bank A is
offering 5.5% compounded annually, Bank B is offering 5.4%
compounded monthly, and Bank C is offering 5.1% compounded
daily.
To determine the best bank to open a savings account, we need to compare the effective annual interest rates offered by each bank. The effective annual interest rate takes into account the compounding frequency and allows for a more accurate comparison.
Bank A offers an interest rate of 5.5% compounded annually. This means that the interest is calculated and added to the account balance once a year.
Bank B offers an interest rate of 5.4% compounded monthly. This means that the interest is calculated and added to the account balance every month.
Bank C offers an interest rate of 5.1% compounded daily. This means that the interest is calculated and added to the account balance every day.
To compare the effective annual interest rates, we can use the formula:
Effective Annual Interest Rate = (1 + (interest rate / compounding frequency))^compounding frequency - 1
For Bank A:
Effective Annual Interest Rate = (1 + (5.5% / 1))^1 - 1 = 5.5%
For Bank B:
Effective Annual Interest Rate = (1 + (5.4% / 12))^12 - 1 = 5.49%
For Bank C:
Effective Annual Interest Rate = (1 + (5.1% / 365))^365 - 1 = 5.15%
Based on the effective annual interest rates, Bank A offers the highest rate of 5.5%. Therefore, Bank A would be the best option to open a savings account if the interest rates provided are the only consideration.
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After spending over $5,000 on a custom wedding dress, Surani realizes that she could have purchased a similar dress for less than $1,000. Her feeling of regret is an example of:
a negative attitude.
mood congruence.
postdecisional dissonance.
a situational attribution.
Post decisional dissonance. This regret demonstrates the psychological phenomenon of post decisional dissonance.
Post decisional dissonance is a feeling of disappointment or frustration that arises when an individual begins to doubt whether the decision they have made is the right one. As a result, Surani's regret that she could have purchased a similar wedding dress for less than $1,000 is an instance of post decisional dissonance.
Surani invested a significant amount of money into getting a custom wedding dress and may have believed that it was the ideal choice. However, upon realizing that she could have bought a similar dress for significantly less money, she began to doubt her judgment and felt a sense of regret over the decision she had made.
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A U.S. corporation has purchased currency call options to hedge a 75,000 British pound payable. The premium is $.035, and the exercise price of the option is $1.35. If the spot rate at maturity is $1.45, what is the total amount paid by the corporation if it acts rationally? O $101,250 O $103,875 O $111,375 O $106,125 $98,625
The total amount paid by the corporation is $55,833.33.
Given the following details:
Call option premium: $0.035
Exercise price: $1.35
Amount payable: 75,000 British Pounds
Maturity spot rate: $1.45
The total amount paid by the corporation can be calculated as follows:
The strike price is the price at which the currency can be purchased, so the call option gives the corporation the right to purchase £75,000 at $1.35.
Call option amount = 75,000/1.35 = $55,555.56
Cost of the call option = call option amount × premium = $55,555.56 × $0.035 = $1,944.44
The corporation will only exercise the call option if it is profitable, which occurs when the spot price is greater than the strike price plus the premium. In this case, the spot rate at maturity is greater than $1.385.
Profitable = Spot price - Strike price - Premium = $1.45 - $1.385 - $0.035 = $0.03
Call option payout amount = Call option amount × Profitable amount = $55,555.56 × $0.03 = $1,666.67
Total amount paid by the corporation = Call option amount + Cost of the call option - Call option payout amount = $55,555.56 + $1,944.44 - $1,666.67 = $55,833.33
The correct option is: O $55,833.33.
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TRUE / FALSE. "The concern over reasonableness and standards of care
are elements of negligence theory.
The statement is TRUE. The concern over reasonableness and standards of care is a crucial aspect of negligence theory as it helps determine whether a defendant's actions were negligent or not.
The concern over reasonableness and standards of care is indeed an integral part of negligence theory. Negligence is a legal concept that forms the basis for many personal injury cases. In order to establish a claim of negligence, the plaintiff must typically prove four elements: duty of care, breach of duty, causation, and damages. The duty of care refers to the legal obligation one person has to act reasonably and prudently in order to avoid causing harm to others. The standard of care is the level of caution and skill that a reasonably prudent person would exercise in similar circumstances. The concern over reasonableness and standards of care arises when determining whether the defendant's conduct fell below the standard expected, thereby constituting a breach of the duty of care. If the defendant's actions are found to be unreasonable or not in accordance with the standard of care, they may be held liable for negligence.
The concern over reasonableness and standards of care is a crucial aspect of negligence theory as it helps determine whether a defendant's actions were negligent or not.
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Nuno purchased five crypto coins for $1000 in October 2020. He sold two of the coins for $375 in May 2021. He later sold the remaining three coins for $720 in September 2021. What is his net gain or loss on the coins?
a: $25 short term loss.
b: $95 short term gain.
c: $120 short term gain.
d: $145 short term gain.
Nuno's net gain on the coins is $145, resulting in a short-term gain. The correct option is d: $145 short-term gain.
Let's calculate Nuno's net gain or loss on the coins.
Nuno purchased five crypto coins for $1000 in October 2020. The average cost per coin is $1000 / 5 = $200.He sold two coins for $375 in May 2021, which means he received a total of 2 * $375 = $750 from the sale.He later sold the remaining three coins for $720 in September 2021.To calculate the net gain or loss, we can compare the total proceeds from selling the coins with the total cost of acquiring them:
Total proceeds = $750 + $720 = $1470
Total cost = $1000
Net gain or loss = Total proceeds - Total cost
Net gain or loss = $1470 - $1000
Net gain or loss = $470
Since the net gain is positive, the correct option is:
d: $145 short term gain.
Therefore, Nuno's net gain on the coins is $145.
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In order to allocate costs more precisely, a company will assign:
A. indirect costs only to products that directly generate the costs
B. direct costs only to products that directly generate the costs
C. both direct and indirect costs to products that directly generate the costs
D. no costs to products that directly generate the costs
In order to allocate costs more precisely, a company will assign both direct and indirect costs to products that directly generate the costs. The correct option is C.
Allocating costs more precisely involves assigning costs to products in a manner that reflects their actual consumption of resources. Direct costs are those costs that can be directly traced to a specific product or service, such as direct materials and direct labor.
Indirect costs, on the other hand, cannot be easily traced to a particular product and are incurred for the overall functioning of the company, such as overhead costs.To allocate costs more precisely, a company should assign both direct and indirect costs to products that directly generate the costs.
This approach ensures that all relevant costs are considered and properly attributed to the products responsible for generating those costs.
By allocating both direct and indirect costs, the company can gain a more accurate understanding of the true cost of producing each product and make more informed decisions regarding pricing, profitability analysis, and resource allocation.
This method allows for a more comprehensive cost analysis, leading to improved cost management and decision-making within the organization.The correct option is C.
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Supply chain management is the management of the flow of goods and services between businesses as well as locations and includes the movement and storage of materials, inventory, and finished goods from their origin to their destination. It also involves the streamlining of the business’s activities in order to maximize customer value and gain a competitive advantage. Given this definition and explanation, describe what the supply chain of your organization looks like. How does your understanding of, as well as the physical mapping of your supply chain, help you to gain the knowledge necessary to maximize your customer value and gain a competitive advantage within your industry?
Supply chain management is the management of the flow of goods and services between businesses as well as locations and includes the movement and storage of materials, inventory, and finished goods from their origin to their destination.
Understanding the physical mapping of our supply chain helps us to identify the strengths and weaknesses of the different links in the chain and allows us to optimize our processes. By having a clear picture of the entire process, we can identify any bottlenecks and eliminate them to ensure smooth operations.
This results in better coordination between the different players in the chain and ensures that the right product is delivered to the right place at the right time. In addition, our understanding of our supply chain helps us to gain insights into customer preferences, market trends, and other important data.
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1. If Kevin accepts the new job opportunity, does it impact the family goals and values? Support your answer.
1. Financial Impact: Consider whether the new job opportunity offers better financial prospects compared to Kevin's current job. If the new job provides higher income, better benefits, or improved financial stability, it could positively impact their financial goals.
2. Work-Life Balance: Assess whether the new job aligns with their desired work-life balance. If the new job offers more flexibility, reduced commuting time, or a better schedule, it could contribute to their goal of achieving a healthy work-life balance.
3. Career Growth: Evaluate whether the new job opportunity presents better long-term career prospects for Kevin. If the job offers opportunities for advancement, skill development, or aligns with his professional goals, it could support their goal of career growth and personal fulfillment.
4. Personal Values: Consider whether the new job aligns with the couple's shared values. For example, if they prioritize working for a socially responsible organization or contributing to a particular industry or cause, evaluating the alignment of the new job with these values can provide insights into its impact.
5. Family Dynamics: Assess the potential impact on the overall family dynamics, including the time available for family activities, the potential stress levels associated with the new job, and the impact on relationships. It is crucial to consider how the new job opportunity may affect the overall well-being and happiness of the family.
To determine the specific impact on Kevin and Tyra's family goals and values, they should have open discussions, consider their priorities, and evaluate how the new job opportunity aligns with their aspirations. It is also essential to consider the potential challenges and trade-offs associated with the new job. Ultimately, the decision should be made based on a holistic evaluation of the potential benefits and drawbacks, taking into account their unique family goals and values.
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If you were offered $1,473.50 11 years from now in return for an investment of $700 currently, what annual rate of interest would you earn if you took the offer?
If you were offered $1,473.50 11 years from now in return for an investment of $700 currently, you would earn an annual rate of interest of approximately 6%.
To calculate the annual rate of interest earned if the offer was taken in the given investment, we can use the formula for compound interest.
The formula is:
Future Value = Present Value × (1 + Interest Rate)^Number of Periods
Given:
Present Value (Investment) = $700
Future Value = $1,473.50
Number of Periods = 11 years
By rearranging the formula, we can solve for the interest rate:
Interest Rate = (Future Value / Present Value)^(1/Number of Periods) - 1
Plugging in the values:
Interest Rate = ($1,473.50 / $700)^(1/11) - 1
Interest Rate ≈ 0.06 or 6%
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• Describe a specific example of a situation where statistical inferences might be used in a business setting.
A specific example of a situation where statistical inferences might be used in a business setting is in market research and consumer behavior analysis.
Imagine a company that wants to launch a new product in the market. They are interested in understanding the preferences and purchasing behavior of their target customers to make informed decisions. They conduct a survey among a sample of potential customers and collect data on various variables such as demographics, product preferences, buying habits, and satisfaction levels.
Using statistical inference techniques, the company can analyze the survey data to draw conclusions and make inferences about the larger population of potential customers. They can estimate population parameters, such as the average age or income level, by calculating sample statistics and constructing confidence intervals. They can also perform hypothesis tests to determine if certain factors significantly influence customer preferences or satisfaction.
For instance, the company might use statistical inference to answer questions like:
What is the average age of our target customers, and how confident are we in our estimate?
Is there a significant difference in product preferences between different demographic groups?
Does customer satisfaction vary based on the frequency of product usage?
By employing statistical inference, the company can make data-driven decisions about product design, marketing strategies, and target audience segmentation, leading to more effective and successful business outcomes.
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