Smith and Sons, Inc. Income Statement (in millions)

2016 2015
Net sales 10,300 9,800
Cost of goods sold (5,500) (5,200)
Gross profit 4,800 4,600
Selling and administrative expenses (2,800) (2,700)
Income from operations 2,000 1,900
Interest expense (300) (250)
Income before income taxes 1,700 1,650
Income tax expense (420) (400)
Net income 1,280 1,250

Smith and Sons, Inc. Balance Sheet

Assets
Current assets
Cash and cash equivalents 450 650
Accounts receivable 900 800
Inventory 750 900
Other current assets 400 250
Total current assets 2,500 2,600
Property, plant & equipment, net 2,350 2,250
Other assets 5,700 5,900
Total Assets 10,550 10,750

Liabilities and Stockholders' Equity
Current liabilities 3,250 3,150
Long-term liabilities 5,000 5,400
Total liabilities 8,250 8,550
Stockholders' equity-common 2,300 2,200
Total Liabilities and Stockholders' Equity 10,550 10,750

Required:
Calculate the quick ratio for Smith & Sons, Inc., for 2015 and 2016.

Option (b), an encoded message is conveyed to a receiver through a medium, such as a phone call, letter, note, or face-to-face contact in a conference.

Ideas are translated into language through the process of encoding. The encoder transmits the message using a "medium," such as a phone call, email, text message, in-person meeting, or other communication mechanism. When a signal is encoded, multiple levels of conscious cognition are required.

A system or channel, known as a medium in communication, is used by a speaker or writer to address their audience. It is a means of communicating meaning to an audience and can include written, oral, or nonverbal elements. A communication medium might be real-world or online.

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You may create a record type named Channel Marketing by going to Customize | Campaigns | Record Types. Create a campaign list view named Campaign Marketplace by selecting Campaigns | Create New View. The Channel Marketing record type may be used to create campaigns for your partner users.

Choose the site, then click Merchant Tools, then click Customers. To add a new client, click New on the Customers tab. To change an existing customer record, select a customer number. You can also remove one or more customers. Add or change the data on the Customer page. There are two distinct account kinds. Accounts for businesses hold data on businesses. Information about specific individuals is kept in person accounts. Specialists in business administration assist a corporation with communication, commerce, human resource administration, and accounting. Business administration professionals can handle events and administrative initiatives in addition to carrying out the duties and activities connected with secretaries.

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The insurance provider has additional latitude to fight or reject the beneficiary's claim if a policyholder passes away soon after purchasing life insurance.

Consequently, if your claim has been unfairly delayed or refused, it is even more crucial that you speak with a knowledgeable life insurance lawyer.

You can withdraw money before to your death if you have a permanent life insurance policy.

There won't be a payout if you outlive your term life insurance coverage. When you apply for term life insurance, you agree that it will cover you for a particular period of time, such as 20 years. If you are still alive and well beyond that point, your policy will expire with no refund.

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Contingency plans are predefined actions that the project team will take if an identified risk event occurs.

The above statement is True.

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Answer:

One approach to managing the organizational risk across the three business domains could be to establish a risk management framework that aligns with the organization's vision of risk. This framework should be designed to provide a clear and consistent approach to identifying, assessing, and mitigating risks across the organization.

To establish a baseline level of risk exposure, the first step would be to conduct a thorough risk assessment across all three business domains. This assessment should identify the potential vulnerabilities and exposures in each domain, as well as the potential impacts on confidentiality, integrity, and availability. The assessment should also consider the interdependencies between the domains and the potential cascading effects of a cyber incident in one domain on the others.

Based on the results of the risk assessment, the next step would be to develop a set of risk mitigation strategies that address the identified vulnerabilities and exposures. These strategies should be tailored to the specific needs of each business domain and should be aligned with the organization's overall risk appetite. The strategies should also be prioritized based on their potential impact and the resources required to implement them.

Once the risk mitigation strategies have been developed, the next step would be to implement them and monitor their effectiveness over time. This could involve implementing new technologies, processes, or policies to reduce the organization's exposure to risk. It could also involve conducting regular assessments and audits to ensure that the strategies are effective and that any new risks are identified and addressed in a timely manner.

To establish the organization's risk appetite, the first step would be to engage with the Directors of each business domain to understand their perspectives on risk and their views on the appropriate level of risk exposure for the organization. This could involve conducting workshops or focus groups to gather input and to discuss the risks and opportunities associated with different levels of risk exposure.

Once the Directors' perspectives have been gathered, the next step would be to develop a risk appetite statement that reflects the organization's overall view on risk. This statement should be based on the results of the risk assessment and the input from the Directors, and should outline the organization's tolerance for risk and its willingness to accept certain levels of exposure to potential vulnerabilities and impacts.

To monitor and report on the organization's risk exposure, the Director accountable for the risk should establish a system for tracking and reporting on the organization's risk profile. This could involve regular reporting to the Executive Board on the status of the organization's risk mitigation strategies and the effectiveness of those strategies in reducing the organization's exposure to risk. The reports should also include any new risks that have been identified and any changes to the organization's risk appetite.

Overall, managing the organizational risk across the three business domains is a complex and challenging task.

Option (a), a company's or organization's petty cash is the cash on hand for making little payments, purchases, and reimbursements.

Petty cash is the money that businesses and other organizations maintain on hand for little payments, purchases, and reimbursements. It would be challenging or inconvenient to write a check or use a credit card for these transactions, which can be anticipated or unanticipated.

Use a petty cash reimbursement form to request compensation from a person or department that paid out of pocket for an unplanned departmental expenditure. The department manager must provide permission before the purchase is made.

The balance sheet's current assets segment includes petty cash. This is due to the balance sheet's line items being arranged according to their liquidity. Due to its high liquidity, petty cash might be seen near the top of the balance sheet.

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True, rather then rely solely on information from human resources, the department manager should periodically make an independent survey of wages for comparable positions in the community.

It is advantageous for a department manager to occasionally carry out an independent assessment of wages for comparable positions in the community rather than just relying on information from human resources. This procedure aids in ensuring that the department's pay rates are fair and in line with industry standards. The department manager can decide on employee salary more wisely if they acquire data on wages from outside sources, such as industry surveys or job advertisements. With this strategy, the manager may remain up to date on recent market trends, recruit and keep talent, and keep a competitive edge in the job market.

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The chart below shows the FTSE 100 index from June 2016 (when the UK voted to leave the European Union) to June 2020. It shows a sharp decline in the index initially, followed by a steady recovery since then.

The European Union (EU) is an international organization of 28 European countries that work together to promote economic, social, and political cooperation among its members. The EU was established in 1993 with the signing of the Maastricht Treaty, which created a single market, the Eurozone, and a common currency, the Euro. The EU has become the largest economy in the world, and its members benefit from the free movement of goods and services, the free movement of capital, and the free movement of people across borders. The EU also works to ensure the safety and security of its citizens, combat climate change, and promote sustainable development. The EU works in cooperation with other international organizations to promote peace and stability around the world. The EU is committed to the rule of law and democracy, and strives to uphold human rights and the principles of the United Nations Charter.

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An investor might be able to construct a portfolio with an expected standard deviation of zero given the unequal weights of the assets and the economic conditions.

Changing the weights of the securities in a portfolio is a common way to reduce the standard deviation of the portfolio.

According to the relative weights of the investments in the portfolio, the beta of a portfolio is the weighted average of the betas of the individual assets.

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The current year's operating expenses for Ina will cost $93,000.

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Oral arguments are spoken arguments made by attorneys before the appeal court outlining why the court should rule in their client's favor.

The oral argument gives you the chance to expand on the points you made in your brief in front of the appellate court. You can respond to the judges of the appellate court's questions and give more information on the points you stated in your brief. The appellate court can also be told which of your arguments you think is most important.

The Justices have the opportunity to question the attorneys representing the parties in the case directly during the arguments, and the attorneys are free to call attention to any issues they feel are particularly important.

Because the facts and legal concerns favor his client so strongly, an appellate advocate frequently foregoes oral argument because he is confident that his client will win without the need for it. The lawyer who foregoes oral argument does so at great personal peril.

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An example of a fixed expense is paying a cell phone bill. The Option C is correct.

Fixed expenses are those that do not change in response to the level of activity. These expenses are usually fairly consistent, with little variation from month to month. Advertising, dues, equipment leases, insurance, and rent are examples of fixed expenses.

Within a certain range of activity, expenses tend to be fixed, but they vary outside of that range. For example, a company may rent fixed-cost administrative space; however, sales double, necessitating the addition of more staff than can fit in the existing facility, necessitating an increase in rent expense to accommodate the additional staff.

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The belief is that the green corporate image is what drives the present company structures.

Both claims are accurate that

(1) If Green's company is a tightly owned C corporation that is not a personal service corporation, the current deduction for passive activity losses is $50,000.

(2) If Green is a personal service corporation, his or her current deduction for losses from passive activities is $0.

So, c is accurate.

Businesses thrive when customers and clients view them as environmentally responsible. Organizations are moving away from conducting business as usual and replacing it with sustainable operations that enhance brand values. This essay analyses some of them to demonstrate the potential value of green corporate image projects and concepts for company.

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Dependable Appliances, Inc., is a close corporation. As it is owned by five shareholders, is subject to double taxation, and has made no public offering of its shares. Hence, option (B) can be considered as suitable.

Incorporating as a closed corporation allows a partnership to receive liability protection without materially altering how the company conducts business. Due to their freedom from many reporting obligations and shareholder pressure, it can also give businesses more operational flexibility. There are numerous additional names for this type of corporate business structure, including the following:

Close corporation

Privately held company

Private company

Family corporation

Incorporated partnership

Since closed corporations are not listed for trading on any stock exchanges, the public cannot invest in them. The owners or managers of the company, and perhaps even their families, frequently own shares. The company or the surviving stockholders will buy back shares when a shareholder passes away or decides to sell their holdings.

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The maximum amount an individual must pay is called out-of-pocket maximum and the common coinsurance rates are 80/20 are true about coinsurance.

Co-insurance, often known as coinsurance, is the division or spreading of risk across several parties in the insurance industry. Co-insurance clauses are seen in American Land Title Association owner's title insurance policy forms made between 1987 and late 2006. The second is if improvements made to the property after the insurance is issued raise its worth by at least 20% over the sum insured. The insurer will then cover a portion of the claim equal to the ratio of 120% of the amount of insurance acquired divided by the total cost of the renovations. Similar to how it is explained below for the foreign insurance market, co-insurance is also utilized by domestic title insurers in the United States.

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All the observations are within limit. Thus, the whole process is in statistical control.

To monitor and manage the quality of a production process, statistical process control, also known as statistical quality control, is applied. Reducing waste and increasing the number of items that meet specifications, helps to ensure that the process runs effectively.

In order to assess how consistently a product adheres to its design parameters, statistical process control (SPC) is frequently employed in manufacturing and production processes. Manufacturers can get a variety of advantages by establishing consistent quality and performance, including reductions in warranty claims, rework, and scrap.

Let,

Xmean= central line of the chart and the average of past sample means, and A2= constant to provide three sigma limits for the process mean

Rmean= average of several past R values and is the central line of the control chart

D3, D2 = constants that provide three standard deviation (three-sigma) limits for a given sample size

From the provided table we get, Xmean = 2.982083, Rmean = 1.02375, n = 4 (as we are sampling 4 pieces of precision cut wire)

Using the table of control chart constraints,

D4 = 2.282, D3 = 0, A2 = 0.729

UCLR = D4×Rmean = 2.336198

LCLR = D3×Rmean= 0

UCLX= X mean +A2×Rmean = 3.728397

LCLX= Xmean-A2×Rmean = 2.23577

Thus, first we check the R chart if any observation is out of the limits UCLR and LCLR. We see that there is no observation which is out of limits.

Next, we check the x chart to see if any observation goes out of limits UCLX and LCLX.

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Answer:

1. Establishing a baseline risk level involves conducting a risk assessment to identify the potential vulnerabilities, exposures, and impacts within the organisation. This can be done using a risk assessment methodology such as the ISO 27001 Information Security Management System (ISMS) or the Factor Analysis of Information Risk (FAIR). The ISMS provides a framework for managing and protecting sensitive information, while FAIR is a quantitative approach for analyzing and comparing risks. Both of these methods can be applied to the organisation to identify the baseline level of risk exposure.

2. To define a risk assessment and determine the appropriate approach, it is important to consider the specific characteristics of each business domain. A single approach may not be suitable for all three domains, as they may have different levels of risk and require different risk assessment methods. It may be necessary to individually assess each domain and develop a tailored risk assessment and treatment strategy for each. This can be done using a combination of qualitative and quantitative risk assessment methods, such as scenario analysis and Monte Carlo simulations.

3. The effectiveness of controls (risk response) can be measured by comparing the actual results of the risk treatment measures to the expected outcomes. This can be done using metrics such as the cost-benefit ratio, the likelihood of occurrence, and the impact on the organisation's objectives. Risk quantification measures and metrics can also be used to assess the ongoing (residual) risk and monitor it over time. These may include measures such as the annual loss expectancy and the expected loss value.

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Explanation:

It's accurate to say this. The objective of the lowest total cost approach (LTC) is to identify the most affordable purchase choice, which is the one with the least negative net present value (NPV).

If your calculation results in a negative net present value, the money obtained in the future won't be worth more than the cost of the initial investment. The investment might not be a good one if the net present value is negative since you might not turn a profit.

Using the lowest overall cost strategy, you obtain the most affordable project (LTC). ideal for companies whose fixed assets need to be replaced often.

utilizes the time value of money to retroactively discount current costs and benefits to those that will come in the future.

There is no chance of a positive NPV while using LTC. The goal is to identify the purchasing choice with the lowest negative NPV and thus lowest cost.

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When the Fed regulates the electronic transfer of funds between businesses and financial institutions, it is performing its responsibility to ensure the safety and stability of the financial system.

This involves monitoring the activities of these entities to make sure they are compliant with applicable laws and regulations, such as the Bank Secrecy Act, the Truth in Lending Act, and the Fair Credit Reporting Act. The Fed also ensures that these transfers are conducted in a secure and efficient manner so that the financial system runs smoothly.

The Fed also works with other agencies, such as the Federal Deposit Insurance Corporation, to ensure that these activities are regularly monitored and supervised. By regulating the electronic transfer of funds, the Fed is helping to protect the integrity of the financial system and protect consumers from fraudulent activity.

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Explanation:

If the demand curve for a life-saving medicine is perfectly inelastic, it means that the quantity demanded does not change regardless of the price of the medicine. In this case, a reduction in supply will cause the equilibrium price to rise, because the reduced supply will lead to an increase in the price that sellers are able to charge.

However, the equilibrium quantity will fall, because the reduced supply will lead to a decrease in the total quantity of medicine that is available for purchase.

Therefore, the correct answer is A: a reduction in supply will cause the equilibrium price to rise and the equilibrium quantity to fall.

The amount of NOI from the property will be a key factor in determining whether or not it is a good investment for Zenith Investments. Knowing the expected NOI from the office property will help the company in deciding whether or not to buy the property.

Net operating income (NOI) is an important indicator of the financial performance of a real estate investment. It is calculated by subtracting the operating costs from the total income generated by the properties. In the case of Zenith Investment Company, it has done extensive market analysis and estimated that the annual NOI for a potential office property will be a certain amount. This analysis takes into account current market supply and demand conditions, rents and estimated operating costs.

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Net Income for flexible budget  is $127,000, actual results is $141,000,   variances is $14,000 and  the result is favourable.

A fixed budget is a financial strategy without adjustments for changes in real activity. Due to the fact that it is simpler to create than a flexible budget, it is the form of budget that is most frequently employed. The only circumstances where a fixed budget is likely to come close to actual results are when costs are mostly fixed, so that expenses do not change as revenues fluctuate, or when the industry is not subject to much change, so that revenues are reasonably predictable, or when the company is in a monopoly situation, where customers are forced to accept its pricing. A flexible budget, which is intended to adjust in response to changes in activity levels, is the opposite of a set budget.

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                                             LEWIS Co.

                          Flexible budget performance report

                                    For month ended May 31

                            Flexible budget  Actual results  Variances        Result

Sales                        $420,000           $435,000        $15,000         Fav

                               (1400*$300)

Variable expense   $168,000           $172,000           $4,000         Unfav

                               (1400*$120)

Contribution.

margin                      $252,000          $263,000         $11,000           Fav

Fixed cost                $125,000            $122,000          $3,000          Fav

Net Income             $127,000            $141,000          $14,000           Fav

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A. The reasons that a company may convert receivables before their due date include reducing the risk of non-payment.

Converting receivables to cash before they are due can be beneficial for companies for several reasons. One reason is to reduce the risk of non-payment. By converting receivables to cash prior to their due date, companies can reduce their exposure to customer defaults and ensure that they receive payment for their services or goods.

Additionally, converting receivables to cash can help to satisfy customer needs. By having cash on hand, companies can more easily provide customers with the products or services they need. Finally, converting receivables to cash can quickly increase profit and generate cash. By receiving payment for services or goods before their due date, companies can reduce their overhead costs and increase their profitability. In addition, they can use the cash they receive to finance other operations or investments.

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If Venture's owner, Steve, regularly requests open input from his staff, more ideas will result and learning will proceed more quickly.

No matter how glitzy the "openness and honesty" banners are that are displayed in the foyer, employees are much more likely to believe the communications environment they really experience when working at the office.

This means that your organisation needs to foster a culture where management are aware of how important communication is to the business and where staff members feel free to voice their opinions.

It requires commitment and deliberate effort to open up communication, but the rewards are well worth the effort. Here's how to promote open dialogue in order to foster such an environment.

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The difference between these two rates of return is referred to as the risk premium.

Rates of return are the amount of money earned from an investment over a period of time, expressed as a percentage of the amount invested. Rates of return are used to measure performance and compare investments. These returns can be positive or negative, and can include income from dividends, capital gains or losses, or other sources. Generally, higher rates of return are desired, as they may indicate higher potential profits. Investment decisions should be made with a full understanding of the potential risks associated with the investment.

Risk premium is the difference between the return on an investment with a certain level of risk and the return on a risk-free investment. In this case, the risk premium would be 5.9 percent (8.1%-2.2%).

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Intuition relies on an understanding of many of the norms, expectations, and behaviors of others learned from living and working with them.

The scientific method relies on systematic studies that identify and replicate a result using a variety of methods, samples, and settings. A hypothesis is a collection of verbal and symbolic assertions that specify how and why variables are related, and the conditions under which they should and should not relate.

A theory is a well-substantiated explanation of some aspect of the natural world that is acquired through the scientific method. An independent variable is a variable used to measure the effect of the independent variable.

A dependent variable is a variable predicted to be affected by something else. Correlation is the size and strength of the statistical relationship between two variables.

A meta-analysis is a statistical technique used to combine the results of many different research studies done in a variety of organizations and for a variety of jobs. Global replication is the replication of the study’s results in different contexts.

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A major goal of the ) act export trading company was to question remove antitrust disincentives to export activities in the USA.

Hence, Option B is correct

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In order for the life insurance application to be complete, the applicant must provide the necessary information, sign the application and submit it to the insurance company. In addition, the applicant must also pay the initial premium for the policy to be activated and effective.

After the initial premium is paid, the insurance company reviews the application and, if approved, issues the policy. The policy documents will be sent to the applicant, who will then have to sign them and send them back to the insurance company. Once we receive the signed documents, the policy will become active and take effect.

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The creation of a new firm illustrates how joint ventures and strategic alliances differ from one another.

A firm is an organization that provides expert services. Depending on the situation, this can be a corporation, LLC, or partnership. Most companies only operate in one place. However, a business is made up of one or more physical locations that are all owned by the same individual and have the same employment identification number (EIN).

Numerous businesses can be referred to as "firms," including ones in the financial, consulting, marketing, and graphic design industries. When used in a title, "firm" is frequently associated with businesses that provide specialized legal and accounting services. The establishment explains how joint ventures and strategic alliances differ from one another.

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The supply of loanable funds will increase and the real interest rate will decrease.

When the amounts of loans that borrowers desire and the amounts of savings that savers contribute are equal, the market for loanable funds reaches equilibrium. To make these equal, the interest rate is adjusted.

A lower real interest rate caused by an increase in the supply of loanable funds boosts the demand for investment and loanable funds while decreasing the supply of private funds.

When the desired amount of money (L) equals the amount of money (M), when the MEC equals the rate of interest, and when the volume of investment equals the normal or desirable volume of saving (i.e., L = M, r = MEC, S = I), an equilibrium state (income) is obtained.

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