Fairweather Securities Corp. (FSC), a registered broker-dealer, has invited several IARs from Econometric Advisory Services (ESA), a registered invested adviser that directs transactional business to FSC, to a seminar featuring a disquisition on current economic trends being presented by a leading economist. It would be permitted for FSC to cover which of the following expenses?
A) Registration fees for the seminar plus travel expenses
B) Travel and transportation fees, but not the seminar fee
C) Registration fees for the seminar
D) None; because ESA directs commission business to FSC, it would be an unethical business practice for FSC to pay any portion of the expenses
Answers
The correct option is (C) Registration fees for the seminar.
The reason is as follows:
Fairweather Securities Corp. (FSC), a registered broker-dealer, has invited several IARs from Econometric Advisory Services (ESA), a registered invested adviser that directs transactional business to FSC, to a seminar featuring a disquisition on current economic trends being presented by a leading economist.
FSC is permitted to cover the registration fees for the seminar as per ethical guidelines. But, it is prohibited to cover any other expenses like travel and transportation fees, as it may appear that they are offering gifts or other benefits to the IARs in return for the commission business that is directed to them. It is an unethical business practice for FSC to pay any portion of the expenses except the registration fees.
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Related Questions
Packaging and labeling not only provides benefits for the consumer, but if done successfully in a way that puts a firm in a favorable position compared to its competitors, it can provide ______ for the firm.
Answers
Packaging and labeling, in addition to benefiting the final consumers, also provides a competitive advantage for the firm.
What are packaging and labeling?Packaging and labeling are the processes of designing and developing suitable packages for the enclosure of products and providing some instructions and suggestions for product usage.
While packaging focuses on the product's appearance, labeling is mainly concerned with the product's description.
Thus, packaging and labeling, in addition to benefiting the final consumers, also provides a competitive advantage for the firm.
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how does socialization affect the self concept that we call the looking glass slef
Answers
Answer:?
Explanation:?
How can ratio analysis be used to interpret financial statements?
Answers
In order to get insights into profitability, liquidity, operational effectiveness, and solvency, ratio analysis examines line-item information from a company's financial statements.
Ratio analysis allows you to compare one firm to another in the same sector or sector and track how one company has changed over time.
What is ratio analysis?Ratio analysis is a quantitative examination of the information included in the financial statements of an organization. Ratio analysis is the study or analysis of the line items included in the company's financial statements.
It can be used to evaluate a number of aspects of a business, including profitability, solvency, liquidity, and operational effectiveness.
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For what reason do you think Jumbo Vision International received a commercialisation grant from the Australian government’s Entrepreneurs’ Programme?
Answers
The reason that Jumbo Vision International received the commercialization grant from the Australian government's Entrepreneurs' Program was to enable the company to export its innovative product to Europe and the United States.
What is a commercialization grant?A commercial grant is a financial assistance rendered by the government to enable innovative firms to commercialize their novel products, processes, and services, thereby increasing the country's GDP.
An example of a commercialization grant is the Australian Entrepreneurs' Program, which encourages innovative and creative companies to earn profits for their successful research and design efforts.
Thus, the reason that Jumbo Vision International received the commercialization grant from the Australian government's Entrepreneurs' Program was to enable the company to export its innovative product to Europe and the United States.
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Which of the following activities would be a part of the leading function of a manager? A) Devising a new strategic plan to enter a new foreign market currently dominated by a competing firm. B) Recruiting qualified workers to join the organization and assigning them to their proper position. C.Examining a financial report to see whether the firm's profits are improving and taking corrective action if they are not. D) Training and coaching workers to help them understand their job and perform it effectively.
Answers
The following tasks would be included in a manager's leading role. Employees are trained and coached to understand their jobs and do them well.
Which of the following would be a part of a manager's controlling function?Controlling entails making sure that performance adheres to norms. Three steps make up controlling: setting performance criteria, assessing actual performance against those standards, and, if necessary, remedial action.
Which of the following tasks falls under a manager's organizing responsibilities?Planning is followed by management's organizational activity. It is the activity concerned with organizing and managing human, material, and financial resources in order to accomplish organizational goals. As an illustration, this could involve developing systems, setting up teams, or setting up processes and tasks.
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Poner algunos ejemplos en los que las em¬presas sustituyan un factor productivo por otro en función de los cambios en los pre¬cios de los factores. ¿Se puede sustituir siempre un factor por otro?
Answers
Answer:
Un factor variable puede sustituirse por otro.
Un uso más generoso de un factor variable permitirá producir una cantidad constante de producción con menos unidades de algunos o todos los demás.
Esto indica que la mano de obra puede ser considerada literalmente tan buena como el oro y podría ser sustituida por ella. Si no fuera por la sustitución de factores, no habría lugar para más decisiones después de que se hubiera establecido y, el número de cadenas a producir.
Sí, se puede hacer una sustitución
Un ejemplo es cuando las empresas intensivas en energía sustituyen el uso decreciente de energía y capital por un aumento del precio de la energía del 1% con una mayor entrada de material y, en menor medida, mano de obra.
Además, algunas empresas han sustituido fácilmente la energía por otros factores de producción, lo que les ha permitido mitigar en mayor medida los efectos de la subida de los precios de la energía.
Can someone PLEASE PLEASE HELP ME WITH THIS!!!!!
Answers
Answer:
1. Consumer.
2. Producer.
3. Transportation.
4. Marketing.
5. Harvesting.
6. Processing.
7. Retail/food service.
Explanation:
Food supply continuum can be defined as a cycle of how livestock (animal products) moves from the producer to the consumers. The main goal of the food supply continuum is to safely provide quality animal products to the consumers.
Basically, the seven (7) steps or segments in the food supply continuum include the following;
1. The segment which is responsible for safe handling of the animal product (beef, pork, lamb) in their homes is the consumer.
2. The producer is responsible for raising a healthy animal.
3. The segment which carries the animal from the farm to the market is transportation.
4. The segment which sells the animal to the packer is marketing.
5. The segment which harvests the animal is harvesting. It involves the slaughtering of the animal.
6. The segment which processes the carcasses into retail cuts is processing.
7. The segment which involves a negotiator is the retail/food service.
which of the following is the best example of a law
A You can spend more money than you earn
B teachers must retire at age 65
C you should not make promises you can't keep
D you may not ask an interviewee if he or she is married or has children
Answers
You may not ask an interviewee if he or she is married or has children is the best example of a law.
Thus, the correct option is D.
What is a law?The exact meaning of law is up for debate, but it is generally understood to be a set of regulations that are made and enforced by social or governmental institutions to control behavior. It has been called both a science and the practice of justice in diverse contexts.
A law society is an organization of attorneys having the authority to regulate the education, certification, and behaviour of attorneys. Where there is a distinction between barristers and solicitors, the law societies govern solicitors and a separate bar council regulates barristers.
Federal laws are measures that have been approved by both houses of Congress, have the president's signature, have overridden the president's veto, or have otherwise been given the go-ahead to become law. In the United States Code, individual laws, sometimes known as acts, are organized by subject.
The legislation has several objectives. Establishing norms, upholding order, settling conflicts, and defending liberties and rights are the four basic ones.
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What are some jobs you can get before 16?
Answers
Answer:
Babysitting.
You can work at a lot of places, normal jobs, you're just required to takes breaks because you're a minor. You really just have to check with businesses in your area and see where you can work.
My friends work at a pizza place in our town, they were all under 16 when they started working there.
Explanation:
MY PROGRESS-36% Marketing Research LEO Decision Point: Choosing Your Research Topic You are now tasked with developing a research plan that would best support the research objectives you have just chosen. You consider your options and narrow them down to the following three. Select an option from the choices below and click Submit Research the attitudes that men under 35 have towards eSports Research the effect that increased advertising in women's magazines would have on women's attitudes towards eSports. Research the attitudes that U.S. women and consumers over 35 have towards the eSports Industry
Answers
The best course of action would be to investigate the attitudes that American women and consumers over 35 have toward the eSports Industry based on the research objectives that were selected.
The inclusion of a particular demographic (women and consumers over 35) that may help shed light on potential target audiences for the industry is in line with the research objective of understanding general attitudes toward the industry.
Researching the attitudes of men under 35 would not be in line with the chosen research objectives, whereas studying the impact of increased advertising in women's magazines on women's attitudes toward eSports would only reveal information about one possible marketing strategy.
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problem 2-48 (lo 2-1) (algo) jamarcus, a full-time student, earned $3,750 this year from a summer job. he had no other income this year and will have zero federal income tax liability this year. his employer withheld $525 of federal income tax from his summer pay. is jamarcus required to file a tax return? should jamarcus file a tax return? multiple choice he is required to file an income tax return regardless of income and should file a tax return. he should compulsorily file a tax return because his gross income of $3,750 is well below the gross income threshold for a single taxpayer. he is not required to file an income tax return because his gross income of $3750 is well below the gross income threshold for a single taxpayer ($12950 for 2022). he should still file a tax return to receive a refund of the $525 previously withheld. he is not required to file a tax return as the refund of $525 previously withheld will be automatically credited to his bank account.
Answers
He should still file a tax return to receive a refund of the $525 previously withheld.
Step 1: Assess whether Jamarcus is required to file an income tax return. Answer: Yes, Jamarcus is required to file an income tax return regardless of his income.
Step 2: Assess whether Jamarcus should file a tax return. Answer: Yes, Jamarcus should file a tax return, as his gross income of $3,750 is well below the gross income threshold for a single taxpayer ($12,950 for 2022).
Step 3: Determine the benefit of filing a tax return for Jamarcus. Answer: Jamarcus should file a tax return to receive a refund of the $525 previously withheld.
Step 4: Assess whether filing a tax return is always beneficial for Jamarcus. Answer: No, filing a tax return is not always beneficial for Jamarcus, as the refund of $525 previously withheld will be automatically credited to his bank account.
Step 5: Determine the action Jamarcus should take.
Answer: Jamarcus should file a tax return to receive a refund of the $525 previously withheld.
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what is correspondence in business. Briefly explain the qualities of a good letter
Answers
Answer:
Business correspondence means the exchange of information in a written format for the process of business activities. Business correspondence can take place between organizations, within organizations or between the customers and the organization. The correspondence refers to the written communication between persons
our self-talk consists of words pictures and emotions. as we imprint our affirmations we
Answers
Self-talk is your inner voice or the way you speak to yourself. Although you almost probably are doing it without realizing it, you almost certainly are. In order to produce an internal monologue throughout the day, this inner voice mixes conscious thoughts with ingrained beliefs and biases.
What are the four categories of self-talk?Your inner discourse is known as self-talk.
Personalizing. You own all of the guilt for yourself.
Magnifying.
Catastrophizing.
Polarizing.
What are the five tiers of one's own self-talk?Helm Stetter outlines the "Five Levels of Self-Talk" (Negative Acceptance, Recognition and Need to Change, Decision to Change, The Better You, and Universal Affirmation) and offers advice on how to navigate each level for significant life changes.
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4 On 1 July 20-6 Mumtaz started a business. The following are her transactions for the first two weeks of trading:
Answers
Mumtaz started a commercial enterprise. the following are her transactions for the primary weeks of trading: can do economic transactions thru cellular banking using a smartphone.
Definition of transaction: something transacted specially: a trade or switch of goods, services, or funds digital transactions. b transactions plural: the often posted record of the meeting of a society or affiliation: an act, system, or example of transacting.
Examples of transactions are as follows: Paying a provider for offerings rendered or items added. Paying a seller with coins and notice so that you can attain ownership of belongings previously owned by means of the seller. Paying an employee for hours worked.
In accounting, a transaction in any financial commercial enterprise event impacts a commercial enterprise's monetary statements. because transactions include any occasion that has an economic effect on your monetary data, there are a whole lot of items that are transactions.
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give the business report example
Answers
Below is and example of how to write at business report about a company who is facing complaints.
Report on poor sales by the ABC Agency :
Terms of Reference : To report the concerned authorities about the poor after sales services of Mobile phones by ABC agency.Methodology : Visited company agents of ABC agency from 22nd January to 25th January. Talked about all the complaints and made detailed enquiries. Meeting with Agency owner and service staff.Findings : The enquiries show that people who had complaints all bought the phone after the company's new model launched after the new year. Complaints were about unsatisfying services and no resolution of issues. All the appointed staffs were paid less and some of them left. Newly appointed staffs were not given proper training. Conclusion : Absence of Healthy work environment in the agency and lack of experience in the newly appointed staffs was the reason for poor service. There is also no senior staff to supervise the employees.Learn more about Business reports here,
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which is greater: 1 hour or 60 minutes?
Answers
Answer:
they are equal
Explanation:
60 minutes is the same as an hour
After an audit report is issued, the auditor discovers through a peer review that an important audit procedure has been omitted. In this case, what should the auditor first do? Immediately request the client recall the report Determine whether the report can still be supported in light of the omitted procedure Notify all parties known to be relying on the report, Contact his or her professional liability insurance carrier.
Answers
The auditor should first: Determine whether the report can still be supported in light of the omitted procedure. The correct option is b
When an auditor discovers that an important audit procedure has been omitted after issuing the audit report, the first step is to determine whether the report can still be supported despite the omission.
The auditor needs to assess the impact of the omitted procedure on the overall audit conclusion and whether it affects the reliability and fairness of the financial statements.
By evaluating the significance of the omitted procedure and its potential impact on the audit findings, the auditor can determine if the report can still be supported or if corrective actions need to be taken. This evaluation may involve performing additional procedures or obtaining additional evidence to address the omission.
While it is important to rectify any deficiencies in the audit process, immediately recalling the report (option a) or notifying all parties relying on the report (option c) may not be necessary if the audit conclusion remains valid after considering the omitted procedure.
Contacting the professional liability insurance carrier (option d) may be considered if the omission results in potential legal or liability issues, but it is not the first step to take in this situation. The priority is to assess the impact of the omission and determine the appropriate course of action based on professional judgment.
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Complete question:
After an audit report is issued, the auditor discovers through a peer review that an important audit procedure has been omitted. In this case, what should the auditor first do?
a. Immediately request the client recall the report
b. Determine whether the report can still be supported in light of the omitted procedure
c. Notify all parties known to be relying on the report,
d. Contact his or her professional liability insurance carrier.
2. Maquan has to write a paper for his English class , which is due Tuesday . He waits until Monday at 9pm to get started . He no longer has the ability to ask his teacher for help . This is an example of
A. Procrastination
B. Spontaneity
C. Compliance
D. Synthesis
Answers
Answer:
Explanation:
It's procrastination.
Procrastination is the act of putting off till tomorrow what should be done as soon as you know about it. Most people really do procrastinate. They have a growth. What wants to find out about that?
They wait to see a doctor. Who needs to find out about Cancer?
Students get papers to write. The subject is complex and requires a lot of reading. Who wants to do that when there's a touch football game (both sexes playing) outside just waiting to be enjoyed. Who needs all those footnotes?
A bank that makes most of its long-term loans at adjustable interest rates is:
a. reducing both interest rate and credit risk.
b. increasing credit risk and reducing interest rate risk.
c. reducing credit risk and increasing interest-rate risk.
d. increasing both interest-rate and credit risk.
Answers
A bank that makes most of its long-term loans at adjustable interest rates is increasing credit risk and reducing interest rate risk. The correct option is b.
Interest rate risk is the potential for investment losses that can be triggered by a move upward in the prevailing rates for new debt instruments. If interest rates rise, for instance, the value of a bond or other fixed-income investment in the secondary market will decline. The change in a bond's price given a change in interest rates is known as its duration.
Interest rate risk can be reduced by buying bonds with different durations, or by hedging fixed-income investments with interest rate swaps, options, or other interest rate derivatives.
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any good business plan ideas
my business will be something to do with tie Dye
Answers
Answer:
nike socks for sure
Explanation:
Directions: Classify the following appetizers either Hot or Cold appetizer.
Write your answer in your test notebook.
1. cucumber stuffed _____________________
2. fresh fruits and vegetables _____________________
3. hard cooked eggs/stuffed eggs _____________________
4. pickled items _____________________
5. fries _____________________
6. salmon and cucumber bites _____________________
7. chips and dips _____________________
8. seafoods appetizer _____________________
9. pizza rolls _____________________
10. raw vegetables with dip _____________________
Answers
why only 4 percent manage to succeed in business of company ??
Answers
Answer:
A lot of businesses don't succeed due to money problems, or no customers.
Explanation:
What do you think were the main concerns with the Olympus two-door sports coupe? Is there a market for a two-seat, $32,000 sports car when the RX-8 sells for significantly less? Evaluate the role of the marketing mix in the Olympus introduction. What are some of the marketing strategies auto manufacturers use to stimulate sales of certain makes of automobiles?
Answers
The main concerns of the sports coupe is that
They did not carry out good research of the marketThey also did not research the people that would buy the product.There is no market for the two seat car given that it would be better if it was a market that people knew with a cheaper price.
2. What is the role of the marketing mix?The role of the marketing mix has to do with the combination of price and the product. These two did not match properly in order to be able to take care of the need of customers and expectations.
3. Some of the strategies would be the use of social media and search engines. This would help to create the awareness for their products and create traffic.
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You sell one December futures contracts when the futures price is 51.010 per unt. Each contract is on 100 units and the initial margin per contract that you provide is $3.000. The maintenance margic per coatract is $2.000. During the next day the futures price rises to $1.017 per unit. What is the bahance of your nurginasesont at the und of the day?
Answers
the maintenance margin is $2,000, and the balance of your margin account should not fall below the maintenance margin, the balance of your margin account at the end of the day is $2,100.
To calculate the balance of your margin account, we need to consider the initial margin, maintenance margin, and the change in the futures price.
Given:
Futures Price (Initial) = $51.010 per unit
Futures Price (End of the Day) = $51.017 per unit
Contract Size = 100 units
Initial Margin per Contract = $3,000
Maintenance Margin per Contract = $2,000
First, let's calculate the change in the futures price:
Change in Futures Price = Futures Price (End of the Day) - Futures Price (Initial)
= $51.017 - $51.010
= $0.007
Next, let's calculate the total contract value:
Total Contract Value = Contract Size * Futures Price (Initial)
= 100 * $51.010
= $5,101
Then, let's calculate the change in the contract value:
Change in Contract Value = Total Contract Value * Change in Futures Price
= $5,101 * $0.007
= $35.707
Now, let's calculate the variation margin:
Variation Margin = Change in Contract Value / Contract Size
= $35.707 / 100
= $357.07
Finally, let's calculate the balance of your margin account:
Balance of Margin Account = Initial Margin - Variation Margin
= $3,000 - $357.07
= $2,642.93
However, since the maintenance margin is $2,000, and the balance of your margin account should not fall below the maintenance margin, the balance of your margin account at the end of the day is $2,100.
The balance of your margin account at the end of the day is $2,100. This means that you still have enough funds in your margin account to meet the maintenance margin requirement and continue trading.
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The market value of Fords' equity, preferred stock and debt are $ 6 billion, $ 2 billion, and $ 12 billion, respectively. Ford has a beta of 1.8, the market risk premium is 8%, and the risk-free rate of interest is 4%. Ford's preferred stock pays a dividend of $ 2.50 each year and trades at a price of $ 25 per share. Ford's debt trades with a yield to maturity of 10%. What is Ford's weighted average cost of capital if its tax rate is 40%?
Answers
Answer:
10.12 %
Explanation:
Weighted Average Cost of Capital (WACC) is the cost of permanent sources of capital pooled together. It shows the risk of the business and is used to evaluate projects.
WACC = Cost of equity x Weight of Equity + Cost of Debt x Weight of Debt + Cost of Preference Stock x Weight of Preference Stock
Remember to use the After tax cost of debt :
After tax cost of debt = Interest x (1 - tax rate)
= 10% x ( 1 - 0.40)
= 6.00 %
Cost of equity :
Cost of equity = Return from Risk free security + Beta x Risk Premium
= 4.00 % + 1.8 x 8.00%
= 18.40 %
Cost of Preference Stock :
Cost of Preference Stock = Dividend / Market return x 100
= $2.50 / $ 25 x 100
= 10%
therefore,
WACC = 18.40 % x 30 % + 6.00 % x 60 % + 10.00% x 10%
= 10.12 %
thus,
Ford's weighted average cost of capital is 10.12 %
suppose the production function is given by q=3k 4l. what is the marginal product of capital
Answers
The marginal product of capital in the given production function q=3k^4l is 12k^3l.
The marginal product of capital (MPK) measures the additional output generated by adding one unit of capital while holding other inputs constant. To find the MPK, we take the partial derivative of the production function with respect to capital (k), assuming labor (l) is fixed.
In the given production function q=3k^4l, we differentiate with respect to k:
∂q/∂k = 12k^3l
This means that for each additional unit of capital (k) added, the output (q) increases by 12k^3l, assuming labor (l) remains constant. The marginal product of capital captures the rate at which output changes with respect to changes in capital input.
Therefore, the marginal product of capital in the given production function q=3k^4l is 12k^3l.
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The Miners' Deli is considering the purchase of a new computer system for inventory control purposes. It is thought that better inventory management will save the firm USD $20,000 a year in cash expenses (by reducing waste of perishable goods) although it is not expected to have any effect on revenues. It is also expected that the deli will be able to reduce its investment in inventory by USD $5,000 a year. No other net working capital accounts are expected to be affected. The system will cost USD $80,000 and will be depreciated using straight-line depreciation over 5 years for tax purposes. The firm pays taxes at a marginal rate of 25%. What are the annual incremental cash flows for this project in each of the first 5 years?
a. $14,000
b. $24,000
c. $19,000
d. $5,000
e. None of the above answers is correct
Answers
None of the answer choices provided (a, b, c, d) is correct.
The correct answer is e. None of the above answers is correct.
To calculate the annual incremental cash flows for the project over the first 5 years, we need to consider the savings in cash expenses and the reduction in inventory investment.
1. Cash expense savings: The project is expected to save $20,000 per year in cash expenses by reducing waste of perishable goods. This means that the annual cash flow from the savings will be $20,000.
2. Reduction in inventory investment: The project is expected to reduce the investment in inventory by $5,000 per year. This means that the annual cash flow from the reduction in inventory will be $5,000.
3. Depreciation: The cost of the computer system is $80,000 and it will be depreciated using straight-line depreciation over 5 years. So, the annual depreciation expense will be $80,000 / 5 = $16,000.
4. Tax savings: The firm pays taxes at a marginal rate of 25%. The tax savings due to depreciation can be calculated by multiplying the annual depreciation expense by the tax rate. In this case, the tax savings will be $16,000 * 0.25 = $4,000.
To calculate the annual incremental cash flow, we add the cash expense savings, the reduction in inventory investment, and the tax savings.
Therefore, the annual incremental cash flow for the project in each of the first 5 years will be $20,000 + $5,000 + $4,000 = $29,000.
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The _____ is a production period long enough for the firm to adjust the
quantities of all its ________, including capital.
Answers
Answer:
long run, productive resources
TRUE / FALSE. The rule in Rylands v Fletcher is also known as the ""strict liability"" rule.
Answers
TRUE. The rule in Rylands v Fletcher is also known as the "strict liability" rule.
The statement is true. The rule in Rylands v Fletcher is indeed known as the "strict liability" rule. The case of Rylands v Fletcher is a landmark legal decision in tort law that established the principle of strict liability for non-natural use of land.
Strict liability is a legal concept that holds an individual or organization responsible for damages or losses caused by their actions, products, or services, even if they were not negligent or intended to cause harm. Strict liability claims can be brought against businesses and individuals alike and often involve dangerous or inherently hazardous activities or products.
This rule is based on the principle of fairness, as it ensures that individuals engaging in potentially dangerous activities bear the responsibility for any harm caused. It provides a remedy for those who suffer harm as a result of such activities, even in the absence of negligence.
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Generally, it is a sound business practice to take advantage of cash discounts. the money saved by paying invoices promptly is free to be used elsewhere. conversely, there is an implicit (opportunity) cost of foregoing a cash discount. by forgoing a cash discount, the small business owner is, in effect, paying an annual interest rate to retain the use of the discounted amount for the remainder of the credit period.
For example, assume that Jill anticipates she will receive invoices for $500 from the vendors offering cash discounts of 3/10, net 45.
a) how much will Jill save by paying within the discount period?
b) what will it cost Jill to retain the use of credit for 45 days?
c) what is the annual interest rate of the "loan" (ie. what is the annual rate of 3/10, net 45)?
Answers
Answer: a. $485
b. $15
c. 32.28%
Explanation:
a. how much will Jill save by paying within the discount period?
3% × $500 = 3/100 × $500 = 0.03 × $500 = $15
The amount saved will be:
= $500 - $15.
= $485
b) what will it cost Jill to retain the use of credit for 45 days?
This will be:
= 3% × $500
= 3/100 × $500
= 0.03 × $500
= $15
c) what is the annual interest rate of the "loan" (ie. what is the annual rate of 3/10, net 45)?
c) The annual interest will be calculated using:
= P x R x T
where,
I = interest = $15
P = principal = $485
R= rate of interest = Unknown
T= time factor = 15/365 = 0.0958
Then, annual Interest rate will be:
R = 15/ (485 x 0.0958)
R = 32.28%
Annual Interest rate is 32.28%