Answer:
When Andrew sent his acceptance on Wednesday a contract was formed.
Explanation:
Andrew had recieved the offer on Monday and accepted on Wednesday, although Billy sent a revocation on Tuesday.
The onus for Andrew to receive the revocation on time is on Billy, a faster means should have been taken to notify Andrew of the revocation.
So the contract was formed on Wednesday when Andrew accepted the offer.
Which of the following types of research refers to research conducted for a single firm to provide specific information its managers need? A. Syndicated research B. Exploratory research C. Custom research D. Descriptive research E. Casual research
Answer:
C. Custom research is the correct answer.
Explanation:
Custom Research is a type of research that is particularly produced and financed by a particular client and the outcomes are restrictive to that particular client. Custom research gives the knowledge required to make significant decisions in different kinds of market challenges. Custom market research benefits to business because custom research investigation offers immensely deeper and more precise insight.In a business environment, you need to consider ____ consequences of your communication because anything you write and say may become public if your company is sued or is part of a government investigation.
Answer:
LEGAL
Explanation:LEGAL CONSEQUENCES these are the outcomes of what ever actions a person or an organization receives due to some initial activities. In making comments or Communications publicly or privately can be tendered as an evidence against you in the Court of Law.
Before making any verbal or written statement it is better to do proper review and ensure it doesn't go against the Law and if sued it should not result in any legal consequences. That is why it is expected that most Organisations have legal unit which help to analysis it publications before making them.
Tiny Corporation shows a balance in the unearned revenue account of $1,200 at the end of the month. It is determined that $500 of that amount remains unearned at this time. The adjusting entry to update the accounts is:___________.
Final answer:
To adjust for $700 of services rendered by Tiny Corporation, debit the Unearned Revenue account for $700 and credit the Revenue account for $700, reflecting the transition from unearned to earned revenue.
Explanation:
The student asked for the adjusting entry needed when $700 of unearned revenue becomes earned. Since Tiny Corporation shows a balance in the unearned revenue account of $1,200 and it is determined that $500 remains unearned, $700 has been earned during the period. The adjusting entry consists of debiting the unearned revenue account and crediting the revenue account to reflect the earned amount.
The adjusting entry would be as follows:
Debit Unearned Revenue: $700Credit Revenue: $700This entry will reduce the unearned revenue liability account and increase the revenue on the income statement, correctly reflecting the revenue that has been earned during the period.
The hotel chain Ritz-Carlton uses the phrase "Ladies and gentlemen taking care of ladies and gentlemen" to demonstrate the company's cultural commitment to take care of both employees and customers. Which of the following is the Ritz-Carlton using to express its corporate culture?a. The company is expressing its key corporate value with a slogan.
b. The company is using a ceremonial demonstration of its values.
c. The company is conveying the value of its employees with a story.
d. The company is illustrating its heroes with strong company values.
Explanation:
The slogan is self explanatory that ladies and gentlemen taking care of ladies and gentlemen.
About the slogan:
So it adds values both to employees as well as the customer. Slogan is more of customer-friendlyThe slogan is always the right aspect to express the motto, culture of the organization and hotel chain Ritz-Carlton has smartly framed it.Justification about the other options:
If the slogan is adding value to the employees alone, then it means that company is valuing the customer who is the king for business. Even the last option stands invalid because, the focus of customer is lost, it feels like self-appraising the company itself.Foreign stock markets are frequently characterized by controlling shareholders for the individual publicly traded firms. Which of the following is NOT identified by the authors as typical controlling shareholders?A) the government (for example, privatized utilities)
B) institutions (such as banks in Germany)
C) family (such as in France)
D) All of the above were identified by the authors as controlling shareholders.
Answer:
Foreign stock markets are frequently characterized by controlling shareholders for the individual publicly traded firms. Which of the following is NOT identified by the authors as typical controlling shareholders?
family (such as in France) is consider not to be part of the foreign stock markets characterized by controlling shareholders.
Explanation:
Which of the following statements accurately describe the practice of tax inversion?
A) A company shifts their headquarters to a foreign country.
B) A company decreases cash holdings in a foreign country.
C) A company increases debt in their home country.
D) Both A and C, but not B.
Answer:
A) A company shifts their headquarters to a foreign country.
Explanation:
If a corporation restructure itself to replace the current parent with foreign parent so that the current company becomes a subsidiary of the foreign parent, it is known as tax inversion.
Shifting the company to foreign country also moves the tax residence to the foreign country. Companies take advantage of the existing loopholes to avoid tax, It is different from tax evasion as in tax evasion the companies wilfully avoids paying taxes.
In US various legislation and regulation have been enacted by the Congress and Obama administration to curb such tax inversion. Inversions can be considered legal as they do not violate the relevant tax rules, but it leads to losses for the government.
Caleb, the CEO of Doberry Edibles, is very particular about establishing and maintaining good interpersonal relations with his employees. He also has high standards for personal excellence and works hard to accomplish his goals. According to McClelland, this indicates that Caleb has a______________
Answer:
high need for affiliation and high need for achievement.
Explanation:
McClelland's human motivation theory establishes three main motivation drivers:
need for achievement: individuals feel the urge to achieve something they consider important, they want to do something that matters to other people. need for affiliation: individuals need to engage in social relationships and belong to social groups. need for power: individuals feel the need to control and have authority over other people.Caleb, the CEO of Doberry Edibles, typifies both 'Need for Achievement' and 'Need for Affiliation' according to McClelland's Theory of Needs because of his dedication to personal excellence, goal accomplishment, and excellent interpersonal relationships.
Explanation:Based on McClelland's Theory of Needs, Caleb's characteristics suggest that he possesses a certain level of Need for Achievement and Need for Affiliation. According to McClelland, the Need for Achievement is associated with setting and striving for high standards, personal excellence, and goal accomplishment, which mirrors Caleb's traits.
The Need for Affiliation, on the other hand, is defined as a desire for friendly and close interpersonal relationships, clearly observed in Caleb's diligent approach to establishing and maintaining good relations with his employees.
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Adhering to a new act passed in 2002, the CEO of Pearsil & Pearsil, a real estate company, now personally certifies the validity of the company's financial statements. Given this information, the CEO most likely follows the_____.
Answer:
Sarbanes - Oxley Act
Explanation:
Sarbanes - Oxley act was enacted in 2002 by the government to protect investors from misleading financial reporting with an intent of fraud.
As per this act, every corporation is required to get the financial statements audited by recognized auditors and comply to all guidelines. Any discrepancy in financial statements could be treated as criminal offence and legal action could be taken against such companies.
In this case, CEO of Pearsil & Pearsil is abiding by Sarbanes Oxley act by personally validating company's financial statements.
A registered representative services the brokerage account of her father-in-law at her broker-dealer. The father-in-law has asked the registered representative to act as the trustee in a trust account for her spouse and children. The following assets are being donated by the father-in-law into the trust:
Office Building: $15,500,000
Construction Company: $20,000,000
Construction Equipment: $ 2,000,000
The registered representative has agreed not to charge a trustee's fee to do this. Does she have to get permission of her broker-dealer to act as trustee?
A. No, because it is a family relationship
B. No, because the trust does not hold securities
C. No, because she is not being compensated to be the trustee
D. Yes, because this is an outside business activity
Answer:
D. Yes, because this is an outside business activity
Explanation:
Every other "OBA" - Outside Business Activity - should be disclosed to the corporation and authorised by the company.
In addition, it should be recorded on the U4 Form of such a licensed representative and disclosed in the BrokerCheck report of that person. Keep in mind that a person doesn't have to be reimbursed for an OBA to occur.
Whenever the delegate is in a role to direct the outside business entity's investment activities, it makes it an OBA.
The notion that perhaps the licensed representative, as just a beneficiary, would be able to supervise an office building as well as a construction company's activities, which both of these organizations may have servicing and investment accounts, makes it an OBA.
You have the opportunity to invest in several annuities. Which of the following 10-year annuities has the greatest present value (PV) Assume that all annuities have the same positive interest rate. a.An annuity that pays $500 at the beginning of every six months b.An annuity that pays $1,000 at the end of each year c.An annuity that pays $500 at the end of every six months d.An annuity that pays $1,000 at the beginning of each year
Answer:
a.An annuity that pays $500 at the beginning of every six months
Explanation:
Annuities 1 to 4 gave the following Present values of which the first is the highest. See attached for calculations
PV
6,794.52
6,144.19
6,294.52
6,758.65
Year 0 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 PV
Annuity 1 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500
DCF @ 10% 1 0.953462589 0.909090909 0.866784172 0.826446281 0.787985611 0.751314801 0.716350555 0.683013455 0.651227778 0.620921323 0.592025252 0.56447393 0.538204775 0.513158118 0.489277068 0.46650738 0.444797335 0.424097618 0.404361213 0.385543289
PV 500 476.7312946 454.5454545 433.392086 413.2231405 393.9928055 375.6574005 358.1752777 341.5067277 325.6138888 310.4606615 296.0126262 282.236965 269.1023875 256.5790591 244.6385341 233.2536901 222.3986673 212.0488092 202.1806067 192.7716447 6,794.52
Annuity 2 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000
DCF 0.909090909 0.8264 0.751 0.683 0.620921323 0.56447393 0.513158118 0.46650738 0.424097618 0.385543289
PV 909.0909091 826.4 751 683 620.9213231 564.4739301 513.1581182 466.5073802 424.0976184 385.5432894 6,144.19
Annuity 3 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500 500
DCF 0.953462589 0.909090909 0.866784172 0.826446281 0.787985611 0.751314801 0.716350555 0.683013455 0.651227778 0.620921323 0.592025252 0.56447393 0.538204775 0.513158118 0.489277068 0.46650738 0.444797335 0.424097618 0.404361213 0.385543289
PV 476.7312946 454.5454545 433.392086 413.2231405 393.9928055 375.6574005 358.1752777 341.5067277 325.6138888 310.4606615 296.0126262 282.236965 269.1023875 256.5790591 244.6385341 233.2536901 222.3986673 212.0488092 202.1806067 192.7716447 6,294.52
Annuity 4 1000 1000 1000 1000 1000 1000 1000 1000 1000 1000
DCF 1 0.909090909 0.8264 0.751 0.683 0.620921323 0.56447393 0.513158118 0.46650738 0.424097618
PV 1000 909.0909091 826.4 751 683 620.9213231 564.4739301 513.1581182 466.5073802 424.0976184 6,758.65
Alex Timbers, a wood supplier, receives an order of 10 wooden logs from a furniture manufacturing company. The client brief mentioned that the logs should be made of teak wood and be identically sized. After receiving the order, the quality specialist of the furniture manufacturer observed that the logs were too big to be used for building furniture. In this scenario, it is likely that the information provided by the furniture manufacturing company to Alex Timbers was _____.
A) untimely
B) irrelevant
C) inaccurate
D) incomplete
Answer:
D. Incomplete
Explanation:
The information supplied by the furniture manufacturing can be described as incomplete because it fails to state how big or how small the wooden logs should be to serve the purpose of what it is wants to be used for. It only states the kind of quality that the wood should be and that it should be of the same size.
To survive and prosper, a business must gain and sustain ______ major competitive advantages over rival firms. A. as many as one hundred B. one C. at least several D. two E. at least fifteen
Answer:
C. at least several
Explanation:
Competitive advantage refers to a favorable situation or position a business enjoys over it's competitors owing to it's specialization or strength in performing a specific operation.
For example, in case of telecommunication, one company's competitive advantage could be superior network coverage with lower call drops than it's competitors.
In order to survive and grow, a business should try and gain competitive advantages in at least several fields and yet at the same time retain and maintain those competitive advantages over a period.
Kelly is the controller of a small company. One day the CFO comes in and tells her to lower the estimate of uncollectible accounts receivable. Kelly insists her numbers are correct as is. The CFO tells her it will mean her job at the company if she doesn’t go along with the smaller estimate. The primary virtue that would enable Kelly to resist the pressure to manipulate the number is:_______
A. Loyalty
B. Integrity
C. Caring
D. Objectivity
Answer:
B. Integrity
Explanation:
Integrity in business represents the virtue of honesty, consistency and adherence to one's strong principles of value, morality and ethical principles. Integrity is rooted in being truthful consistency and and to stand by the truth irrespective of the cost.
Kelly believes that the numbers of the noncollectable accounts receivables are correct and that is the true state of the values. It is the virtue of integrity that will allow her stand by the true figures and be uncompromising (not changing the figure) even at the expense of her job (irrespective of the cost).
Maria, the vice president of sales for an international organization, believes that employees in her foreign offices understand best how to handle the personnel and practices in their offices. So when the corporate HR manager approached Maria about reprimanding Robert, a native Parisian who is the Paris office manager, for not doing things according to corporate policy, Maria backed Robert and said, "I believe that the home office should leave Robert alone because he best understands the local culture." Maria is a(n) ___ manager.
a) global
b) polycentric
c) parochial
d) native
e) ethnocentric
Answer: (B) Polycentric
Explanation:
A polycentric manager is refers to the approach or the method in the global marketing that basically helps the organization for spread about their products and the services among the different countries.
The main objective of the polycentric approach that it helps in managing the different types of operations and services in the business.
According to the given question, maria is the vice president in an organization for the international sales process and she handle all the practices held in their office. Therefore, Maria is refers as a polycentric manger.
teacher at a culinary arts school will conduct an experiment to investigate which of three methods of instruction works best in teaching students how to make a good pie crust. Each student in a group of 60 students will be randomly assigned to one of three methods: in-person demonstration by the instructor, watching a video, and reading a recipe. The students will be assigned so that each method will have 20 students. Each pie crust made will be judged on its taste and texture. What are the treatments of the experiment?
Answer:
The three methods of instruction
Explanation:
Based on the statement provided, the experimental treatments are based on the instruction methods. The main aim of the experiment is to study the instruction method that is suitable for teaching the students. The results obtained from the experiments will be compared and a summary will be deduced to know the best instruction method.
Answer:
The three methods of instruction are given below:
Explanation:
The experimental therapies are based on the instruction methods, according to the statement issued.
The experiment's main goal is to investigate the best technique of instruction for teaching pupils.
The outcomes of the studies will be compared, and a summary will be created to determine the optimum technique of education.
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The employees of Sinclair Services Company worked the last two weeks of December. They received their paychecks on January 2. Which of the following accounts should appear on the balance sheet as of December 31? A) Salaries Payable B) Salaries Expense C) Prepaid Expense D) Accounts Payable
Answer:
A) Salaries Payable
Explanation:
The Balance sheet consists of all assets and liabilities account and the personal account whereas. Since employees had worked for last two weeks in Dec and their payment is still due on Dec 31 so it’s a liability on part of company account and its recognized in form of salaries payable and shown under current liability side.
Which of the steps listed below are part of the fulfillment process.a. Purchase order sent to vendorb. Goods receipt postedc. Billingd. STO processinge. Sales order processing
Answer:C. Billing, E. Sales order processing.
Explanation: Fulfilment process are the steps involved in the end stages of a business transaction some of the activities involved in the Fulfilment process include the Billing process and sales order processing.
Billing: This is a business fulfilment process,where the cost and amount to be paid for the product or service rendered,the Bill is usually made available to the buyer.
Sales order processing is sales document which states the order as it was made by the person or organization,it is made available by the business Organisation.
You are thinking of investing in Ski Sports, Inc. You have only the following information on the firm at year-end 2018: net income = $50,000, total debt = $1 million, and debt ratio = 70 percent. What is Ski's ROE for 2018?
Answer:
Roe will be equal to 11.67 %
Explanation:
We have given net income = $50000 = $0.05 million
Total debt = $1 million
Debt ratio = 70% = 0.70
We have to find the ROE
Debt ratio is ratio o debt and assets
So [tex]0.7=\frac{1}{assets}[/tex]
Assets = $1.42 million
Now equity will be equal to assets - debt
So equity = $1.42 - $1 = $0.42 million
Now equity ratio is equal to ratio of net income and equity
So equity ratio [tex]\frac{0.05}{0.42}=0.1167[/tex] = 11.67 %
Final answer:
To calculate Ski Sports, Inc.'s ROE for 2018, you need to calculate total assets from the given debt ratio and total debt, determine shareholders' equity, and then divide net income by shareholders' equity, resulting in an ROE of 11.67%.
Explanation:
To calculate the return on equity (ROE) for Ski Sports, Inc., we first need to define ROE. ROE is a measure of financial performance calculated by dividing net income by shareholders' equity. However, we're only given net income and total debt, along with the debt ratio. The debt ratio is the proportion of total debt to total assets, and since Ski Sports, Inc. has a debt ratio of 70%, we can calculate the total assets and then use that figure to determine the shareholders' equity. Once we have the shareholders' equity, we can calculate ROE.
Here are the steps to calculate Ski Sports, Inc.'s ROE:
Calculate total assets using the debt ratio: Total Assets = Total Debt / Debt Ratio = $1,000,000 / 0.70 = $1,428,571.
Calculate shareholders' equity by subtracting total debt from total assets: Shareholders' Equity = Total Assets - Total Debt = $1,428,571 - $1,000,000 = $428,571.
Calculate ROE using net income and shareholders' equity: ROE = Net Income / Shareholders' Equity = $50,000 / $428,571 = 0.1167 or 11.67%.
Therefore, Ski Sports, Inc.'s ROE for 2018 is 11.67%.
On January 1, 2015, Anodel Inc. acquired a machine for $1,000,000. The estimated useful life of the asset is 5 years. The residual value at the end of 5 years is estimated to be $50,000. What is the book value of the machine at the end of 2016, if the company uses straight-line depreciation method.
a. $550,000
b. $570,000
c. $620,000
d. $600,000
Answer:
c. $620,000
Explanation:
The computation of the book value is shown below:
The depreciation expense would be
= (Acquiring value of the machine - estimated residual value) ÷ (estimated useful life)
= ($1,000,000 - $50,000) ÷ (5 years)
= ($950,000) ÷ (5 years)
= $190,000
The depreciation should be charged for 2 years so, the accumulated depreciation is
= $190,000 × 2 years
= $380,000
Now the book value
= Acquiring value of the machine - accumulated depreciation
= $1,000,000 - $380,000
= $620,000
Clarissa wants to fund a growing perpetuity that will pay $10,000 per year to a local museum, starting next year. She wants the annual amount paid to the museum to grow by 5% per year. Given that the interest rate is 9%, how much does she need to fund this perpetuity?A) $250,000.00 B) $125,000.00 C) $300,000.00 D) $200,000.00
Answer:
A) $250,000.00
Explanation:
The computation of the amount needed to fund the perpetuity is shown below:
= (Paying amount per year) ÷ (Interest rate - growth rate)
= ($10,000) ÷ (9% - 5%)
= ($10,000) ÷ (4)
= $250,000
We simply apply the above formula by considering all the given information i.e per year paying amount, interest rate, and the growth rate
Which of the following is NOT one of the components of a company's microenvironment?A.CompetitorsB.Marketing intermediariesC.Cultural forcesD.Customer marketsE.Suppliers
Answer:
C. Cultural forces
Explanation:
The cultural forces, along with, technological, political, demographic and economic forces are part of the macro environment.
The microenvironment is considered as entities or events that can be altered in a certain wat by the decision of the firm like which supplier they have. The terms and relationship with the competitors and their marketing campaigns.
Specialists in which field assess and mitigate workplace hazards, such as issuing ear protection to workers in factories with high noise levels and making sure that people who spend their days in front of a computer have ergonomically designed chairs?
Answer: Industrial Hygiene
Explanation: Specialists in industrial hygiene are also known as occupational hygienists. They serve to analyze, identify, research and measure key elements to industrial hygiene which are biological, chemical, physical and ergonomic (including workplace hazards or stresses) that can cause sickness, impair health, or cause significant discomfort in workers. To do this, they help in spotting these conditions and assist in eliminating or controlling them using appropriate measures.
The competitive moves and business approaches a company's management uses to grow the business, attract and please customers, compete successfully, conduct operations, and achieve the targeted levels of organizational performance are referred to as its _____________.
Answer:
Strategy
Explanation:
Strategy refers to the blueprints that an organisation uses to achieve its stated objectives. It involves the process of using various resources within the organisation's environment to achieve the objectives of the organisation.
Strategy set direction that an organisation follows to achieve various objectives. The strategy of an organisation helps the organisation to reach goals which includes identifying and satisfying customer's needs, gaining a much larger market share, competing successfully in the market etc.
In a nutshell, all the conscious plan which the organisation uses to achieve its goal is its strategy.
Suppose the equilibrium price of textbooks is $40 a textbook. At that price, quantity of textbooks demanded and supplied is 20,000. If a $5 tax per textbook paid by producers increases the price paid by consumers to $42 a textbook and reduces equilibrium quantity sold to 18,000, then:
A. elasticity of demand is 0.89. Consumers pay a larger portion of the tax.
B. elasticity of demand is 0.46. Consumers pay a smaller portion of the tax.
C. elasticity of demand is 2.16. Consumers pay a larger portion of the tax.
D. elasticity of demand is 2.16. Consumers pay a smaller portion of the tax
Answer:
elasticity of demand is 2.16. Consumers pay a smaller portion of the tax
Explanation:
Elasticity of demand measures the responsiveness of quantity demanded to changes in price.
Elasticity of demand = percentage change in quantity demanded / percentage change in price
(2/19)(2/41) = 2.16
When the coefficient of elasticity is greater than 1, demand is elastic.
Elastic demand means that a small change in price leads to a greater change in quantity demanded.
Because demand is elastic, more of the burden of the tax falls on producers and consumers pay a small portion of the tax.
I hope my answer helps you
Procter & Gamble's introduction of All-Temperature Cheer laundry detergent in Japan was a flop at first. The problem was that Japanese women wash clothes in cold water—either tap water or leftover bath water—so they don't care about all-temperature washing (which is a big selling point in the United States). Also, Cheer was first introduced in Japan at a time when the market for fabric softeners in Japan was rapidly expanding. However, when Japanese housewives added lots of fabric softener to the water, Cheer didn't produce many suds (Americans don't use as much fabric softener). P&G reformulated the product so it wouldn't be affected by fabric softeners, and ads for Cheer in Japan pledged superior cleaning in cold water, not all temperatures. Which of the following might have helped P&G avoid the initial problems with Cheer?a. Maslow’s hierarchyb. high- versus low- context culturec. diffusion of innovationd. self-reference criterione. ethnocentric orientation
Answer:
self-reference criterione. ethnocentric orientation
Explanation:
Self-reference criterion could be defined as unconsciously making reference to your own cultural values and experiences, thinking that everyone thinks and does things the way you do and using that knowledge as a basis for decisions.
Ethnocentric Criterion is closely associated is ethnocentrism, which implies the notion that your own company is the best and knows how best to do things.
This obviously was the case for Procter and Gamble in Japan because it is stated in the scenario that ''Japanese women wash clothes in cold water—either tap water or leftover bath water—so they don't care about all-temperature washing (which is a big selling point in the United States).''
Procter and Gamble suffered a product failure because they suffered from Self-reference criterion by thinking 'as it is in America, so it is in Japan.' Furthermore P&G was guilty of being ethnocentric because they must have assumed there products were always the best and failed to conduct proper analysis on culture-related consumer preferences.
Joker Corporation owns 80% of Klue Corporation. Joker Corporation also owns 45% of Lion Corporation and 45% of Mark Corporation. Klue Corporation owns 40% of Lion Corporation and 10% of Mark Corporation. Which corporations are members of a controlled group?a. Klue, Lion, and Mark Corporations b. Joker, Klue, Lion, and Mark Corporations c. Joker, Klue, and Lion Corporations d. Joker and Klue Corporations
Answer:
Option "C" is the correct answer to the following statement.
Joker, Klue, and Lion Corporations
Explanation:
A group of controlled business is described as a community of two or more companies, businesses or firms.
Joker Corporation purchases 80%, 45% and 45% of Klue, Lion and Mark Corporation respectively.
Klue Corporation purchases 40% and 10% of Lion and Mark Corporation.
In this situation, Joker corporation is created a Parent-subsidiary relationship with other firms. where Klue corporation creates brother-subsidiary relation with Lion and Mark corporation.
Latisha is shopping for a car and an auto loan to purchase the car. All of the following statements are true, except: If Latisha applies for credit at multiple auto lenders for the same amount within the same week, most credit scoring models will treat this as one credit application. All of these answer statements are exceptions. Latisha should avoid shopping for the lowest auto loan interest rate possible, because multiple credit applications will cause her credit score to go lower, leading to a higher interest rate. Latish should shop around at different lenders to find the best loan terms possible for her auto loan.
Answer:
If Latisha applies for credit at multiple auto lenders for the same amount within the same week, most credit scoring models will treat this as one credit application.
Explanation:
If you apply for multiple credits during the same week, each credit will be considered an independent credit application by the three credit agencies (Equifax, Experian, and TransUnion). Credit rating agencies have been around for several years, Equifax has been around since 1899, so they already know all the tricks that borrowers can even imagine. Probably several years ago before computers were extremely common, you could trick a credit rating agency by applying to several credits at the same time, but nowadays everything is online and connected, so you are wasting your time and hurting your credit record.
If Latisha applies for credit at multiple auto lenders for the same amount within the same week, most credit scoring models will treat this as one credit application is an incorrect statement.
What are credit scoring models?Credit score models tend to analyze the risk and creditworthiness of individuals applying for credit cards or loans. In the case of digital connections all data of customers are interconnected which gives the probability of customers' default.
Therefore, when a person would apply for many credit cards in three different agencies in one week then it would be regarded as three different applications.
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When the partners of a business develop an arrangement whereby should one of them die or become permanently disabled, the other partners would purchase the interest of the deceased or disabled partner at a predetermined price, this is called a/an:
Answer:
Business Continuation Plan
Explanation:
Business Continuation plan is a form of agreement developed by partners of a business whereby in a case when one partner dies or is permanently disabled in such a way he/she becomes ineffective, the other partner would buy out the interest of the deceased or permanently disabled at s already predetermined price.
In general business Continuation plan guides against potential threats to a company. It ensures personnel and asset are protective and able function quickly in the case of disaster. In this situation, the potential threat against the company is the death of a partner and the method used in protecting the company is by fixing a price for a partner to by the other partner's interest should in case one dies.
" Lanni Products is a start-up computer software development firm. It currently owns computer equipment worth $30,000 and has cash on hand of $20,000 contributed by Lanni's owners. For each of the following transactions, identify the real and/or financial assets that trade hands. Are any financial assets created or destroyed in the transaction?
a. Lanni takes out a bank loan. It receives $50,000 in cash and signs a note promising to pay back the loan over three years.
b. Lanni uses the cash from the bank plus $20,000 of its own funds to finance the development of new financial planning software.
c. Lanni sells the software product to Microsoft, which will market it to the public under the Microsoft name. Lanni accepts payment in the form of 1,500 shares of Microsoft stock.
d. Lanni sells the shares of stock for $80 per share and uses part of the proceeds to pay off the bank loan."
Answer:
A) Lanni takes out a bank loan. It receives $50,000 in cash and signs a note promising to pay back the loan over three years. FINANCIAL ASSET CREATED: when the loan was received, a financial asset was created. Money is exchanged for a promissory note.
B) Lanni uses the cash from the bank plus $20,000 of its own funds to finance the development of new financial planning software. REAL ASSET CREATED: when the software was developed, a real asset was created. Money was invested in developing the software.
C) Lanni sells the software product to Microsoft, which will market it to the public under the Microsoft name. Lanni accepts payment in the form of 1,500 shares of Microsoft stock. FINANCIAL ASSET CREATED: when the software was traded, a financial asset was created. A real asset was traded in exchange for financial assets.
D) Lanni sells the shares of stock for $80 per share and uses part of the proceeds to pay off the bank loan." FINANCIAL ASSET DESTROYED: when the loan is paid back, the financial asset (loan) ceases to exist. When the money is paid back to the bank, the loan and the promissory note cease to exist.
CNP, Inc. is considering a project that will produce cash inflows of $12,000 in year one, $27,600 in year two, and $48,100 in year three. What is the present value of these cash inflows if the company assigns the project a discount rate of 10.5 percent?
a. $69,113.58
b. $64,999.91
c. $76,370.51d. $58,372.13
e. $71,824.90
Answer:
a. $69,113.58
Explanation:
Present value can be found by discounting the cash flows at the discount rate.
Present value can be calculated using a financial calculator:
cash flow for year 1 = $12,000
cash flow for year 2 = $27,600
cash flow for year 3=$48,100
Discount rate = 10.5%
Present value = $69,113.58
I hope my answer helps you