Multiple choice

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1. Which of the following statements is CORRECT?

Net working capital is defined as current assets minus the sum of payables and accruals, and any increase in the current ratio automatically indicates that net working capital has increased.

Although short-term interest rates have historically averaged less than long-term rates, the heavy use of short-term debt is considered to be an aggressive strategy because of the inherent risks associated with using short-term financing.

If a company follows a policy of “matching maturities,” this means that it matches its use of common stock with its use of long-term debt as opposed to short-term debt.

Net working capital is defined as current assets minus the sum of payables and accruals, and any decrease in the current ratio automatically indicates that net working capital has decreased.

If a company follows a policy of “matching maturities,” this means that it matches its use of short-term debt with its use of long-term debt.

  

2. Which of the following statements is CORRECT?

Under normal conditions, a firm’s expected ROE would probably be higher if it financed with short-term rather than with long-term debt, but using short-term debt would probably increase the firm’s risk.

Conservative firms generally use no short-term debt and thus have zero current liabilities.

A short-term loan can usually be obtained more quickly than a long-term loan, but the cost of short-term debt is normally higher than that of long-term debt.

If a firm that can borrow from its bank at a 6% interest rate buys materials on terms of 2/10 net 30, and if it must pay by Day 30 or else be cut off, then we would expect to see zero accounts payable on its balance sheet.

If one of your firm’s customers is “stretching” its accounts payable, this may be a nuisance but it will not have an adverse financial impact on your firm if the customer periodically pays off its entire balance.

  

3. A lockbox plan is most beneficial to firms that

have suppliers who operate in many different parts of the country.

have widely dispersed manufacturing facilities.

have a large marketable securities portfolio and cash to protect.

receive payments in the form of currency, such as fast food restaurants, rather than in the form of checks.

have customers who operate in many different parts of the country.

 

4. Helena Furnishings wants to reduce its cash conversion cycle.  Which of the following actions should it take?

Increase average inventory without increasing sales.

Take steps to reduce the DSO.

Start paying its bills sooner, which would reduce the average accounts payable but not affect sales.

Sell common stock to retire long-term bonds.

Sell an issue of long-term bonds and use the proceeds to buy back some of its common stock.

 

Multiple choice

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1. Eric wrote Donna a check for $50. Eric accidentally dated the check 3/1/07, even though it was actually 3/1/08 when he wrote the check. Eric thought that there was $75 in the account, but there was actually only $10 in the account. Which one of the following scenarios is most likely to occur? 

A. The bank will not honor the check because it’s stale. 

B. The bank will not honor the check because it’s postdated. 

C. The bank will honor the check, even though it will result in an overdraft. 

D. The bank will honor the check, even though a stop-payment order has been made. 

 

2. Erica writes a $100 check to Sam. Sam takes the check to his bank, endorses the check, and deposits it into his bank. This process is best described as 

A. transfer by assignment. 

B. taking for value. 

C. transfer by negotiation. 

D. transfer to a holder in due course. 

 

3. Sara wrote a check to Steven in the amount of $100 to be drawn from her account at Big Money Bank. When took the check to Big Money Bank to be cashed, Big Money refused to pay the check because Sara’s deposit wasn’t made in time to be credited to her account for that day and wouldn’t be available until the next day. Which of the following is true about this turn of events? 

A. Sara is liable to Steven for the $100. 

B. Sara is not liable to Steven for the $100. 

C. Big Money Bank is liable to Sara for the $100. 

D. Big Money Bank is liable to Steven for the $100. 

 

4. Joan noticed one day that her bank debit card was missing from her purse. Joan notified her bank immediately. When Joan received her statement the next month, the bank charged her $500 for withdrawals made after the debit card disappeared. Which one of the following laws do the charged violate? 

A. Federal Trade Commission Act of 1914 

B. Electronic Fund Transfer Act of 1978 

C. Banking Act of 1999 

D. Electronic Communications Privacy Act of 1986 

 

BUS 517 Assignment 2 Project Scope

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BUS 517Assignment 2: Project Scope

 

Due Week 4 and worth 150 points

 

 

 

This assignment builds on Assignment 1 to provide the necessary scope for your project. A project scope includes many variables, the Work Breakdown Structure (WBS) that must be defined prior to the start of the project to ensure that all of the details are planned. In the form of an Excel spreadsheet, Word table, project-specific software, etc., prepare a checklist document that identifies the critical steps in planning the project scope and complete the checklist in accordance with your project. Provide an explanation for how the project scope checklist should be used to thoroughly document the project.

 

Create a 3-4 page project scope checklist in which you:

 

 

 

1. Define the scope of the project in terms of the following:

 

a. Outcomes, objectives, and deliverables

 

b. Key functionality required within the new system

 

c. Primary stakeholders

 

 

 

2. Assess the current situation and future situation that will be most impacted by the project.

 

 

 

3. Prepare a quantifiable project statement.

 

 

 

4. Document three assumptions associated with the project.

 

 

 

5. Explain the uses for the project checklist and how it should be applied to this and future projects.

 

Your assignment must follow these formatting requirements:

 

 

 

Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. Check with your professor for any additional instructions.

 

 

 

Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required page length.

A+ Answers of the following Questions

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Question 1 Bribery, though commonly thought wrongful, arguably can be considered moral pursuant to:

 a.Utilitarian ethics if the overall greater good is achieved by paying the bribe even though there are certain negative consequences for some stakeholders (such as the competition and the host society).

b.Ethical egoism from the vantage point of the company paying the bribe if they really need the contract with the foreign government and they have a policy of “letting the locals deal with the locals.”

 c.Ethical relativism if making the lavish “gifts” (that is, “bribe” payments”) to foreign government officials is considered to be an acceptable and appropriate practice and custom in the host county.

d.All of the above.

 

Question 2 Pat, product development manager for Agricultural Hybrids, Inc., applies Utilitarian ethics to determine that an action is morally correct when it produces

The greatest good for Pat

The greatest good for the most people affected by the action

The greatest good for Pat’s company and its shareholders since they are the only true stakeholder groups

Good emotional feelings that arise in Pat

 

 

Question 3 Ethics is best described as:

The metaphysical study of ultimate reality.

The theoretical study of morality.

The constitutional analysis of equal protection and due process decisions

 

None of the above.

 

Question 4 Which is false about the Italian political scientist and philosopher, Niccolo Machiavelli?

He viewed people generally very negatively in that they are selfish, greedy, unscrupulous, treacherous, cowardly, stupid, and short-sighted.

He believed that the only true reality, value, good, and goal is power.

He believed that a “virtuous” action could be a traditionally “bad” one if was absolutely necessary to achieve and maintain power.

None;

all are true.

 

Question 5 Machiavellian “ethics” is basically premised on the views of:

The Roman Catholic

Church Socrates

The Sophists

The Italian parliament.

 

Question 6 Ingrid firmly believes that each person must look at her own feelings of what is right and wrong in order to decide what is moral. Which of the following ethical theories most accurately describes Ingrid’s beliefs?

Utilitarianism

Ethical Emotism

Social Justice

Ethical Relativism

 

Question 7 Which statement is NOT part of Kant’s Categorical Imperative?

a. When in Germany, do as the Germans would do.

b. Treat people always with dignity and respect.

c. Act only under those maxims that you would be willing to have as universal “laws.”

d. Act only if you would be willing to be the agent/giver or the receiver of the action.

 

Question 8 The famous French adage, “The heart has its reasons that reason knows not,” is best reflected in what ethical theory?

 Kant’s Categorical Imperative.

 Ethical Relativism.

Ethical Emotism

Legal Postivism.

 

Question 9 Which of the following is not an accurate statement?

The fact that there are differences among societies in moral positions means logically that there are no, and can never be, any moral standards or rules.

 

The doctrine of legal positivism would maintain that a business person rely on the law as a basis for decision-making when confronted with a moral question.

 

According to the Hobbesian view of legal positivism, there can be no such thing as a bad, immoral, or unjust law.

 

According to Bentham, Utilitarianism is an objective, scientific, mathematical, and empirical ethical theory.

 

Question 10 According to the Natural Rights theory of John Locke,

 

a. All people possess in the State of Nature and thus by the Natural Law certain inalienable rights – the right to life, liberty, and property.

b. Natural Rights supersede any legal, government, or political laws.

c. Natural Rights supersede any social conventions and local customs.

d. All of the above.

 

 

 

Multiple choice

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Question 1 

We took a sample from a population of gophers. The proportion of gophers in our sample who had brown fur was 0.55 with a standard error of 0.10. What is the lower limit of the 95% confidence interval for the proportion of gophers with brown fur?

0.75 

0.35 

0.40 

0.445 

0.45

 

Question 2 

A researcher wants to study the spending habits of customers of a local shopping mall. The mall manager claims that the average spending per customer is $70, but the researcher believes that the average is less than $70. A simple random sample of 350 shoppers is obtained. The sample average is $65 and the sample SD is $27. Find the alternative hypothesis. 

the population average is greater than $70 

none of these 

the population average is less than $70 

the sample average is less than $70 

the population average is $70

 

Question 3

A researcher wants to study the spending habits of customers of a local shopping mall. The mall manager claims that the average spending per customer is $70, but the researcher believes that the average is less than $70. A simple random sample of 350 shoppers is obtained. The sample average is $65 and the sample SD is $27. Find the null hypothesis. 

the sample average is less than $70 

the population average is $70 

none of these 

the population average is greater than $70 

the population average is less than $70

 

Question 4 

A researcher wants to study the spending habits of customers of a local shopping mall. The mall manager claims that the average spending per customer is $70, but the researcher believes that the average is less than $70. A simple random sample of 350 shoppers is obtained. The sample average is $65 and the sample SD is $27. Find the SE for the sample average. 

1.34 

1.44 

5.08 

2.91 

1.27

 

Multiple choice

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Question 1 

The state of Mississippi passes a law that prohibits waste hauling companies from bringing out-of-state garbage to dumps located in Mississippi. Mississippi garbage would still be permitted. This law is challenged as unconstitutional by an out-of-state waste hauling company that plans to bring garbage from another state into Mississippi for dumping. The likely result of such a lawsuit would be?

The Mississippi law would be upheld as part of the power of the state to protect its citizens and residents from unpleasant sights and smells.

The Mississippi law would be struck down as unconstitutional because it discriminates against interstate commerce.

The Mississippi law would be struck down because only the federal government and the Environmental Protection Agency can regulate garbage transportation and dumping.

The Mississippi law would be upheld since transportation of garbage is not really “commerce.”

 

Question 2 

Pursuant to U.S. statutory immigration law, immigrant visas can be granted to immigrants who possess “extraordinary” knowledge, abilities, and talents since they will benefit the United States. Idi Obuku is a drum-maker from Uganda who specializes in making native drums and other local cultural artifacts. He is denied an immigrant visa by the Immigration Division of Homeland Security after an administrative hearing because he was not deemed to be sufficiently “extraordinary.” He appeals the agency’s decision to the federal court. The result of this lawsuit likely will be:

Idi Obuku will win since all immigration determinations have to be made after a trial in federal district court.

He will lose because he is from Africa.

He will lose because there is no right to appeal immigration decisions now that Immigration is part of Homeland Security.

He will win if he can convince the federal court to substitute its interpretation and application of the law for that of the agency.

 

Question 3 

Applying Aristotle’s Doctrine of the Mean to corporate social responsibility, one can best say that:

A company should give generously to local charities or else it will get a reputation in the community for being mean.

A company need not get involved in civic and community affairs and give to charities unless legally obligated to do so.

A company should focus on profit first but also do “good deeds” in the community but in a prudent manner.

A company should require its employees to donate their own money and time to charities but make sure that the company gains the good reputation from their efforts.

 

Question 4 

In the old, American, pre-Civil War South, slavery ethically could be considered:

a. Moral if one was a Legal Positivist.

b. Moral if one was an Ethical Relativist

c. Immoral if one s  Kantian

d. All of the above.

 

Multiple choice

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1. Panjim’s prepaid expense account consists only of garage rental prepayments. Its 2005 beginning and ending balance were the same. Which one of the following statements must be true?

• Panjim had no garage rental expenses during 2005

• Panjim’s prepaid expense account balance never varied during 2005

• Panjim’s prepaid expense account balance varied during 2005

• None of the above statements is true

 

2. Juan Foods purchases a computer system in 2005 for $20,000. Its expected useful life is 5 years. At the end of 2005, it has to record depreciation on the computer system of $2,000. 

What is the correct journal entry to record the depreciation?

• Debit computer system $2,000; credit depreciation expense $2,000

• Debit accumulated depreciation $2,000; credit computer system $2,000

• Debit depreciation expense $2,000; credit accumulated depreciation $2,000

• Debit computer system $2,000; credit accumulated depreciation $2,000

 

3. Jackie’s Crafts is a successful retailer of fabric by the yard and other sewing supplies. If Jackie were to shut down the store, the bolts of fabrics and the bins of lace and trim, inventory valued at $20,000, on average, at any point in time, would have to be sold for about 10% of that value. But, Jackie’s accountant does not feel the need to reduce the value of the inventory on the books.

This is a reflection of the:

• Consistency concept

• Materiality concept

• Historical cost concept

• Going-concern concept

 

4. Weldon Engineering owes one of its creditors $20,000. To settle the debt, Weldon pays $5,000 cash and also issues common stock valued at $15,000 to the creditor.

How would this repayment of the $20,000 debt be recorded in Weldon’s books?

• Debit debt owed $20,000; credit cash $5,000; credit common stock $15,000

• Debit common stock $15,000; debit cash $5,000; credit debt owed $20,000

• Debit common stock $15,000; debit debt owed $5,000; credit cash $20,000

• Debit debt owed $5,000; credit cash $5,000

 

Multiple choice

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1) BVM sold 25,000 units and was able to breakeven last year.  Variable costs will increase
30% next year.  What information is needed to calculate their new breakeven point?
a) Costs per unit
b) Sales price per unit and costs per unit
c) Total fixed costs, sales price per unit, and costs per unit
d)  No additional data is needed.

2) The probability distributions for NPW for two mutually exclusive alternatives are shown in the table. Assume the NPW random variables are independent.

Project 1

Project 2

X             P(NPW1 = x)

Y              P(NPW2 = y)

$1,000   0.3
$2,000   0.7

$500       0.4
$3,000   0.6

 

a)  Project 2 is preferred because E[NPW2] < E[NPW1] and Var[NPW2] > Var[NPW1]. b)  Project 2 is preferred because P(NPW2  > NPW1) > 0.5.
c)  Both A and B are true.
d)  Neither A nor B is true.

3) Process A has fixed costs of $10,000 and unit costs of $4.50 each, process B has fixed costs of $25,000 and unit costs of $1.50 each.  At what production would the two processes have the same total costs?
a)  50 units
b)  500 units
c)  5,000 units
d)  50,000 units

4) Which of the following statements about scenario analysis is true?
a)  Only two cases, the best and the worst, are analyzed
b)  Only one variable is adjusted at a time
c)  Usually at least three cases are analyzed, worst, most likely, and best
d)  Selling price is not adjusted in any scenario because it is market driven

Multiple choice

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1. Neely Manufacturing Company can make 100 units of a necessary component part with the following costs:

Direct Materials $120,000

Direct Labor 25,000

Variable Overhead 45,000

Fixed Overhead 30,000

If Neely Manufacturing Company can purchase the component externally for $190,000 and only $5,000 of the fixed costs can be avoided, what is the correct make-or-buy decision?

a. Make and save $5,000

b. Buy and save $5,000

c. Make and save $15,000

d. Buy and save $15,000

 

2. Keller Company manufactures a product with a unit variable cost of $150 and a unit sales price of $264. Fixed manufacturing costs were $720,000 when 10,000 units were produced and sold. The company has a one-time opportunity to sell an additional 3,000 units at $210 each in a foreign market which would not affect its present sales. If the company has sufficient capacity to produce the additional units, acceptance of the special order would affect net income as follows:

a. Income would decrease by $162,000.

b. Income would decrease by $36,000.

c. Income would increase by $63,000.

d. Income would increase by $180,000.

 

3. The per-unit standards for direct labor are 2 direct labor hours at $15 per hour. If in producing 1,800 units, the actual direct labor cost was $48,000 for 3,000 direct labor hours worked, the total direct labor variance is

a. $1,800 unfavorable.

b. $6,000 favorable.

c. $3,750 unfavorable.

d. $6,000 unfavorable.

 

4. Combs Co. is planning to sell 400 hair dryers and produce 380 hair dryers during March. Each hair dryer requires 500 grams of plastic and one-half hour of direct labor. Plastic costs $10 per 500 grams and employees of the company are paid $15.00 per hour. Manufacturing overhead is applied at a rate of 110% of direct labor costs. Combs Co. has 300 kilos of plastic in beginning inventory and wants to have 200 kilos in ending inventory. How much is the total amount of budgeted direct labor for March?

a. $3,000

b. $6,000

c. $2,850

d. $5,700

 

respond to the post below in one paragraph/ social health

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For example, if you agree with someone ,’ then qualify your response with some indications that you have explored: HOW you mean this statement, some reasons WHY you think the way you do, WHY you (dis)agree, HOW such relations could be otherwise, and HOW/WHY such a vision might (or might not be) desirable. Often this is as simple as asking the question “for who?” would such a statement be true, and “according to what standard?”

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Prior to reading the ACA summaries, the articles and listening to the quick version of Obama’s speech on Health Care reform, I really did not know a whole lot about any of this stuff. I am not like an expert now, but I do have a better idea about what’s going on. The first thing I did was listen to Obama’s speech. His first words were talking about how if you already have health insurance you can keep your plan and your doctor (President Obama’s speech on Health Care reform). That did not happen. After Obamacare was passed my parent’s health insurance, which I was still on, had changed all their plans. If my parents wanted to keep their benefits and same plan well they would basically have to make a mortgage payment. To pay what they were originally paying, they had to seriously decrease their benefits and plans. So no, original health insurances did not stay the same. My parents are not the only ones, friends and other family members had the same thing happen to them.

 

Of the couple articles I read, all seem to be against the vote for the new health care plan. In the article “In Clash Over Health Bill, a Growing Fear of ‘Junk Insurance’ “, they interview a self-employed woman who is definitely in favor of Obamacare and told about how Obamacare helped her. They only seemed to talk about the positives of Obamacare when there are definitely negatives. This article made it seem like the new Health Bill was this horrible thing, but after looking at the comparison of the health bill to the ACA, it really is not changing a whole lot. To me they are changing what needs to be changed for the better. For example repealing the tax penalty for not having health insurance (Haeyoun, P., Margot, K., How Senate Republicans Plan to Dismantle Obamacare).

 

After all this material, a couple questions that come to mind is how was the ACA legally passed? After having it in place for 7 years is it smart the Senate is slowly making progress to change it? Do you think in the long run Obamacare will be completely repealed and gone and for the better?

____

resources

New York Times Series on U. S. Health Care Reform, watch formerPresident Obama‘s speech on Health Care reform (the 4 minute version), and read Health Reform Summary and 2017 Plans to Repeal and Replace The Affordable Care Act.