Externalities refer to the costs or benefits that are not reflected in the market price of a good or service. In the transportation sector, some externalities include air pollution, traffic congestion, and greenhouse gas emissions.
To address these externalities, policy measures such as fuel taxes, congestion charges, and emission standards can be implemented. However, these methods may not always be ideal as they can disproportionately affect certain groups or industries. For example, a fuel tax may disproportionately affect low-income individuals who rely on their cars for transportation. Therefore, policymakers should consider a range of solutions and carefully weigh the costs and benefits of each. The burden of per-unit taxes on the purchase of a good depends on the price elasticity of demand and supply. If demand is relatively elastic, consumers will bear most of the tax burden as they will be less willing to pay the higher price for the good.
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The income statement is divided into three major categories. What are these categories?
Answer: revenue, expenses and net
Explanation:
This is calculated by dividing the net profits by net sales.
sales margin
profit margin
sales revenue
net revenue
Answer:
Profit margin
Explanation:
Profit margin = Net profits / Net sales
Company can earn insight into a company's earnings by looking at its sales strategy, pricing structure, and productivity improvements using net profit margin.
Complete the balanced scorecard in presentation format to present your findings and recommendations to management. The presentation should contain all information required and thoroughly explain and support your reasoning for your balanced scorecard. You can use PowerPoint, Word, or Excel to present your plan.
A balanced scorecard is a strategic management performance statistic that aids organizations in recognizing and enhancing their internal processes in order to enhance their external results.
It evaluates historical performance information and offers organizations advice on how to make better decisions going forward.
The balanced scorecard technique takes into account four perspectives. Those are
1) From a financial standpoint - A company's objective is to make sure that it generates a return on its investments and controls the major risks associated with conducting business. To do this, efforts are taken such as adding new goods and services, enhancing the value proposition of the business, and lowering operating expenses.
2) Customer viewpoint - The customer perspective tracks how the company adds value to its clients and gauges client satisfaction with the firm's goods and services. To do this, the company will employ techniques such as raising the quality of its primary goods and services, upgrading the shopping experience for customers, and lowering their pricing.
3) Internal procedure - How efficiently a company operates is determined on its internal procedures. "What are we good at?" is the central question raised here. The answer to this query can assist the business in developing marketing strategies and pursuing innovations that result in the development of new and improved ways to satisfy client wants.
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Work and/or assignments performed in a career are _____.
A.) tasks
B.) values
C.) interests
D.) employees
(please help :D)
Answer:
b. task
Explanation:
The assignments which are actually performed in a given career is known as Tasks option(a) is correct.
What is a career?A career in simple words we can say that it is known to be an occupation or a profession which actually undertakes for a longer period of the time which gives monetary benefits over a period of the time.
Career is usually one person choose to do because it is known to be his/her purpose of choosing a right path over a period of the time.
Therefore Option(a) is correct.
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5.4 Present on admission analysis Chapter 5 1 competency V.3 Determine the present on admission (POA) status for the following scenarios A newborn suffers a dislocated shoulder during delivery. What is the POA status for the shoulder dislocation? b. A child fell from the jungle gym at the school playground and was taken to the emergency room for treatment since she was complaining of pain in her elbow. She was diagnosed with a supracondylar fracture of the humerus and was taken directly to the operating room. Immedinedelys after surgery, she experienced severe postoperative nausea and vomiting and was then admitted as an inpatient for rehydration. Assign the POA status for the Supracondylar fracture Post-op nausea and vomiting • Fall from jungle gym 2. Determine if the following POA status assignments are correct. If the assigned POA is not correct, indicate what change should be made to correct the assignment. a. Physician notes genetic susceptibility for breast malignancy in patient's record Code assigned was Z15.01 POA assigned was Y b. Patient admitted with chest pain. In the progress note of the second day, the physician states the patient had a mild NSTEMI (non-ST elevation myocardial infarction). Code assigned was 121.4 POA assigned was N c. Three days after hip replacement surgery, the physician documents "Rule out pneumonia" in a progress note after noting fever and cough upon examination. At discharge, the physician documents pneumonia as one of the discharge diagnoses. Code assigned was J18.9 POA assigned was Y Resource Optum360. 2019. Present on Admission Reporting Guidelines. Appendix I in ICD-10-CM Expert fc Hospitals. Salt Lake City: Optum.
a. The POA status assigned is erroneous. The number Z15.01 shows that the patient has a personal history of benign breast tumor, which is not a current condition at the time of admission.
Under this circumstance, the right POA status is N. (not present on admission). a. The POA status assigned is erroneous. The number 121.4 denotes acute NSTEMI, which was present at the time of admission. For this circumstance, the right POA status is Y. (present on admission). b. The POA status assigned is erroneous. The code J18.9 denotes pneumonia, which was not present at the time of admission. The POA status assigned is incorrect. The code Z15.01 indicates that the patient has a personal history of benign breast tumor, which was not present at the time of admission. Under this circumstance, the right POA status is N. (not present on admission).
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Matt simpson owns and operates quality craft rentals, which offers canoe rentals and shuttle service on the nantahala river. customers can rent canoes at one station, enter the river there, and exit at one of two designated locations to catch a shuttle that returns them to their vehicles at the station they entered. following are the costs involved in providing this service each year:
fixed costs variable costs
canoe maintenance $2,350 $3.00
licenses and permits 3,050 0
vehicle leases 5,450 0
station lease 6,970 0
advertising 6,050 1.00
operating costs 21,050 1.00
quality craft rentals began business with a $25,500 expenditure for a fleet of 30 canoes. these are expected to last 10 more years, at which time a new fleet must be purchased. rentals have been stable at about 6,500 per year.
required:
matt is happy with the steady rental average of 6,500 per year. for this number of rentals, what price should he charge per rental for the business to make an annual 19% before-tax return on assets using life-cycle costs?
To determine the price that Quality Craft Rentals should charge per canoe rental to earn a 19% before-tax return on assets using life-cycle costs, we need to calculate the total annual cost and add the desired return on assets, and then divide by the expected number of rentals.
First, we need to calculate the annual fixed costs:
Total annual fixed costs = Canoe maintenance + Licenses and permits + Vehicle leases + Station lease + Advertising
Total annual fixed costs = $2,350 + $3,050 + $5,450 + $6,970 + $6,050
Total annual fixed costs = $24,870
Next, we need to calculate the annual variable costs per rental:
Total annual variable costs per rental = Operating costs per rental
Total annual variable costs per rental = $1.00
Then, we need to calculate the total annual cost:
Total annual cost = Total annual fixed costs + Total annual variable costs per rental x Number of rentals
Total annual cost = $24,870 + $1.00 x 6,500
Total annual cost = $31,370
To earn a 19% before-tax return on assets, we need to add this desired return to the total annual cost:
Desired return on assets = Total assets x Desired return on assets
Desired return on assets = $25,500 x 19%
Desired return on assets = $4,845
Total cost including the desired return on assets = Total annual cost + Desired return on assets
Total cost including the desired return on assets = $31,370 + $4,845
Total cost including the desired return on assets = $36,215
Finally, we can calculate the price per rental to achieve this total cost:
Price per rental = Total cost including the desired return on assets / Number of rentals
Price per rental = $36,215 / 6,500
Price per rental = $5.57
Therefore, Matt should charge a price of $5.57 per rental to earn a 19% before-tax return on assets using life-cycle costs.
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Which departments should be involved in creating content?.
Creating content is a crucial aspect of any organization's marketing strategy. It requires the involvement of multiple departments within the organization.
These departments should include marketing, sales, customer service, and product development. Marketing Department The marketing department's primary role is to research and analyze the market, identify target audiences, and develop marketing campaigns.
As a result, they are responsible for creating content that is aligned with the organization's marketing goals. They have a deep understanding of the target audience, which is essential for creating content that resonates with them. Sales Department The sales department works closely with the marketing department to understand the customers' pain points, needs, and wants. They are the ones who interact with customers directly and have a deep understanding of their needs.
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How much can the Ball family expect to pay, per year, to raise the child from birth to 18 years of age?
Answer:
14,344 is the correct ammont that they earn.
What is from utility
Explanation:
Refers to how well a product or service meets the customer's needs
how can work be structured so that it is performed effectively, and, at the same time, jobholders find the work personally rewarding and satisfying?
Divisional structure can be structured so that it is performed effectively, and, at the same time, jobholders find the work personally rewarding and satisfying.
What is Divisional structure?In a divisional organization, employees are organized according to the product or service they provide rather than the job they perform. A large corporation like General Electric, for instance, has divisions dedicated to electronics, travel, and aircraft, each with its own team of accountants, marketers, and other professionals.
Functional structure refers to the division of similar jobs into distinct divisions. Jobs connected to one product are grouped under one department in a divisional organization. Formation. Its design centers on functionality. It is designed with the product's idea in mind.
Thus, it is Divisional structure.
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workflow structures processes so work proceeds in the most __________ order.
Workflow structures processes so work proceeds in the most efficient order.
The activities in the process and the transitions between them determine the structure of a workflow process. As a result, a workflow is a Graph with activities as vertices. Arcs serve as transitions (the graph that is formed by a workflow can be viewed by using the Visualize Workflow Process feature in the Process Definition Tool).
The graph formed by a process must meet certain criteria in order for the workflow engine to successfully interpret and run it. These criteria are presented in the section under two main headings: Graph Structure and Block Structure.
When creating process definitions, workflow designers should be aware of certain structural rules. When a Cram workflow process is validated, the validations determine whether the process structure conforms to these rules.
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The internal auditing staff of a local manufacturing company performs a sample audit each quarter to estimate the proportion of accounts that are more than 90 days overdue (i.e., delinquent). The historical records of the company show that over the past 8 years, the average has been that 13% of the accounts have been delinquent. For this quarter, the auditing staff randomly selected 250 customer accounts. What is the probability that no more than 40 accounts will be classified as delinquent? (Round to 4 decimal places.)
The probability that no more than 40 accounts will be classified as delinquent is 0.9999.
To calculate the probability, we can use the binomial distribution formula, which considers the number of trials (250 accounts), the probability of success (13% delinquent accounts), and the desired outcome (no more than 40 delinquent accounts).
Using this formula, we find the probability to be 0.9999, or 99.99%, rounded to four decimal places.
The binomial distribution is a probability model that helps us calculate the probability of a specific number of successes in a fixed number of trials. It is applicable when the trials are independent, each trial has two possible outcomes (success or failure), and the probability of success remains constant throughout the trials. In this case, the auditing staff randomly selected customer accounts, and the proportion of delinquent accounts (13%) serves as the probability of success. By applying the binomial distribution formula, we can determine the probability of observing a specific range of delinquent accounts.
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if oil prices fell, dramatically reducing the cost of transporting goods between australia and the u.s., the real exchange rate between the u.s. and australia would:
rise.
converge towards 1.
converge towards 0.
fall.
The real exchange rate between the U.S. and Australia would fall(d).
When oil prices decrease, the cost of transportation decreases, leading to lower production costs and cheaper imported goods. This increased efficiency in trade reduces the demand for the Australian currency, causing its value to decline relative to the U.S. dollar. As a result, the real exchange rate between the U.S. and Australia would fall.
A lower exchange rate means that it takes fewer U.S. dollars to purchase one unit of the Australian currency, indicating a depreciation of the Australian dollar against the U.S. dollar. This adjustment promotes competitiveness in Australian exports and stimulates trade between the two countries. So d is correct option.
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what is the sum of 275 and 325 divided by 25
Answer:
\(24\)
Explanation:
\(275 + 325 \\ = 600 \div 25 \\ = 24\)
Please mark me as the brainliestAnswer:
24
Explanation:
Because 275+325
=600÷25=24
Sana makatulong
A historian might argue that the trade described in the passage reflected a turning point in world history primarily because the opium trade:.
The trade reflected a turning point because the opium trade shifted the pattern of historic European trade imbalances with China.
What is trade?Trade simply means the transfer of goods from one entity to another. It's the action of buying and selling.
In this case, a historian might argue that the trade described in the passage reflected a turning point in world history primarily because the opium trade because the opium trade shifted the pattern of historic European trade imbalances with China.
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provide a defination of GAAP
Answer:
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Generally accepted accounting principles, or GAAP, are a set of rules that encompass the details, complexities, and legalities of business and corporate accounting. The Financial Accounting Standards Board (FASB) uses GAAP as the foundation for its comprehensive set of approved accounting methods and practices.
What is interesting is that the same organizations tend to
emerge in this course over the years - even more than a decade ago
since I started teaching it. There are a few new organizations, but
they t
The fact that the same organizations tend to emerge in a particular course over the years is intriguing, but it is not necessarily surprising.
This could be attributed to a variety of factors, such as the fact that these organizations are leaders in their respective sectors or industries, have established themselves as a major player in their field, or have a reputation for innovation, creativity, or effectiveness. Additionally, it may indicate that these organizations are invested in keeping up with industry trends and staying on the cutting edge of new developments. As a result, they may be more likely to be noticed and discussed in academic circles, as well as in the media and other public forums. However, the fact that there are also new organizations emerging suggests that there is still room for innovation and growth in these sectors, which is a positive sign for the future. In conclusion, the emergence of certain organizations in a particular course over the years is a fascinating phenomenon that can provide valuable insights into the state of various industries and sectors, as well as the ways in which they are evolving over time.
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A good credit-management strategy can be demonstrated by:
A. applying for a payday loan to finance an expensive vacation.
B. applying for several credit cards from banks and stores.
C. paying only the minimum monthly payment due on credit cards
each month.
D. paying the full balance on the statement by the due date each
month.
Answer:
C
Explanation:
Credit management is actually the process of granting credit to customers, while setting payment terms and conditions to enable them to pay their bills on time and in full and ensuring customers (and employees) comply with your company's credit policy.
From the above definition, we can see that a good credit management strategy can be managed when the customer pay minimum monthly payment due on credit cards each month without defaulting.
Answer:it’s D
Explanation:
Olivia is a partner in Pacific Trade. In the majority of states, with respect to any partnership obligations that Olivia does not participate in, know about, or ratify, she would be liable for
In the partnership, Olivia does not participate in, know about, or ratify, she would be liable for all of the obligations jointly and severally.
What is partnership?It should be noted that partnership simply means a business agreement between two or more people to achieve a common goal.
In this case, in the partnership, Olivia does not participate in, know about, or ratify, she would be liable for all of the obligations jointly and severally.
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what must managers be able to do if they want employees to understand the business’s goals and be productive?
Conceptual skills to understand the business’s goals and be productive.
Who needs conceptual skills?
The ability to see an organization's big picture is referred to as having conceptual talents. For instance, you can consider why you are undertaking a project before getting started, how it ties to the organization as a whole, and how it affects the surrounds.Conceptual abilities enable you to anticipate problems, come up with ideas for solutions, and comprehend the strategic large picture that drives a company's day-to-day operations. Although they are useful in any career, conceptual skills are particularly crucial for those in managerial positions.To know more about Conceptual skills here
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U
1 point
You are at the checkout counter at the local supermarket, use your debit
card to pay for your groceries, and select "credit” when the cashier asks
"Debit or credit?" Where does the money for this purchase come from? *
Your credit card company covers the cost
O It is deducted directly from your checking account
Your credit card company provides you with a cash advance to cover the cost
It is deducted from your credit card account
Answer: It is deducted directly from your checking account
Explanation:
A Debit card is linked to your bank account so when it is used, it will always be deducted directly from your checking account.
The Debit or Credit option simply refers to how the transaction will be processed. With a Debit the transaction goes through a different computer network than the Credit which goes through the Credit computer network.
Bottom-line is that debit cards are bank accounts.
According to GASB standards, expenditures may be classified by:
A. Fund, function or program, organization unit, source, and character.
B. Fund, function or program, organization unit, activity, character, and object.
C. Fund, appropriation, organization unit, activity, character, and object.
D. Fund, organization unit, encumbrance, activity, character, and object
The correct option is B. Fund, function or program, organization unit, activity, character, and object is the correct classification of expenditures according to GASB (Governmental Accounting Standards Board) standards.
This classification system is commonly known as the "FFOCAO" framework, which stands for Fund, Function or Program, Organization Unit, Activity, Character, and Object.
- Fund refers to the accounting entity that is responsible for the resources being used, such as the General Fund or a Special Revenue Fund.
- Function or program refers to the purpose for which the resources are being used, such as public safety or education.
- Organization Unit refers to the department or unit within the organization responsible for the expenditure.
- Activity refers to the specific project or service being provided.
- Character refers to the type of expenditure, such as salaries or supplies.
- Object refers to the specific item purchased or service received.
By classifying expenditures according to these categories, governments can better track and report on their spending, which can help with budgeting and decision-making.
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#SPJ11The correct option is B. Fund, function or program, organization unit, activity, character, and object is the correct classification of expenditures according to GASB (Governmental Accounting Standards Board) standards.
This classification system is commonly known as the "FFOCAO" framework, which stands for Fund, Function or Program, Organization Unit, Activity, Character, and Object.
- Fund refers to the accounting entity that is responsible for the resources being used, such as the General Fund or a Special Revenue Fund.
- Function or program refers to the purpose for which the resources are being used, such as public safety or education.
- Organization Unit refers to the department or unit within the organization responsible for the expenditure.
- Activity refers to the specific project or service being provided.
- Character refers to the type of expenditure, such as salaries or supplies.
- Object refers to the specific item purchased or service received.
By classifying expenditures according to these categories, governments can better track and report on their spending, which can help with budgeting and decision-making.
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#SPJ11The correct option is B. Fund, function or program, organization unit, activity, character, and object is the correct classification of expenditures according to GASB (Governmental Accounting Standards Board) standards.
This classification system is commonly known as the "FFOCAO" framework, which stands for Fund, Function or Program, Organization Unit, Activity, Character, and Object.
- Fund refers to the accounting entity that is responsible for the resources being used, such as the General Fund or a Special Revenue Fund.
- Function or program refers to the purpose for which the resources are being used, such as public safety or education.
- Organization Unit refers to the department or unit within the organization responsible for the expenditure.
- Activity refers to the specific project or service being provided.
- Character refers to the type of expenditure, such as salaries or supplies.
- Object refers to the specific item purchased or service received.
By classifying expenditures according to these categories, governments can better track and report on their spending, which can help with budgeting and decision-making.
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The correct option is B. Fund, function or program, organization unit, activity, character, and object is the correct classification of expenditures according to GASB (Governmental Accounting Standards Board) standards.
This classification system is commonly known as the "FFOCAO" framework, which stands for Fund, Function or Program, Organization Unit, Activity, Character, and Object.
- Fund refers to the accounting entity that is responsible for the resources being used, such as the General Fund or a Special Revenue Fund.
- Function or program refers to the purpose for which the resources are being used, such as public safety or education.
- Organization Unit refers to the department or unit within the organization responsible for the expenditure.
- Activity refers to the specific project or service being provided.
- Character refers to the type of expenditure, such as salaries or supplies.
- Object refers to the specific item purchased or service received.
By classifying expenditures according to these categories, governments can better track and report on their spending, which can help with budgeting and decision-making.
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Which problem would be best addressed by a business bank?
A. A college graduate needs to open a checking account with the
lowest fees available.
B. A corporation needs help with cash management for its large
staff.
C. A person with a poor credit history needs a short-term loan to pay
a medical bill.
D. A couple needs to get a mortgage loan to buy a home after
moving to a new city,
SUBMIT
Answer:
B. A corporation needs help with cash management for its large
staff.
Explanation:
Business banking can be defined as the financial services such as business loans, cash management, lines of credit, trade finance, savings and checking accounts, tax planning, and securities trading provided by a commercial bank to business entities, corporations or companies.
This ultimately implies that, a business bank is only focused on providing financial services to corporations rather than individuals.
Hence, the problem which would be best addressed by a business bank is, a corporation that needs help with cash management for its large
staff.
In a nutshell, a business bank is saddled with the responsibility of meeting the financial needs of corporations found in different sectors such as agriculture, engineering, medical, trade, oil and gas etc.
Answer: B
Explanation:
Give your suggestions to address the problems and challanges being faced by the migrant workers in foregin employment .
Answer: Their comfortability relies a lot on what the government would be willing to do to help them. Some of what the government can do, e.g insure them, pension
Explanation:
Their comfortability relies a lot on what the government would be willing to do to help them. Some of what the government can do as as follows;
I) The government can grant them soft loans
ii) The government can consider making it easier for them to easily open SME's
iii) The government can consider making provision for them as regards pensions
iv) The government can insure them
edward wants to take a long trip around europe 4 years from now. he estimates that he will need $8,000 to finance the trip. edward has found a stock portfolio that generates a 7% yearly rate of return. how much does edward need to invest today to afford the trip? round to the nearest dollar.
Edward needs to invest approximately $6,102 today to afford the trip in 4 years.
How much the value of investmentEdward wants to take a trip around Europe 4 years from now and needs $8,000 to finance it. He found a stock portfolio with a 7% yearly rate of return.
To determine how much Edward needs to invest today, we can use the formula for the future value of an investment:
FV = PV(1 + r)^n
where FV is the future value ($8,000), PV is the present value (the amount Edward needs to invest today), r is the yearly rate of return (7% or 0.07), and n is the number of years (4).
We can rearrange the formula to solve for PV:
PV = FV / (1 + r)^n
Plugging in the values, we get:
PV = $8,000 / (1 + 0.07)^4 PV ≈ $8,000 / 1.3108
PV ≈ $6,102
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I need help ASAP.......If you were interviewing someone what questions would you ask???
Answer:
Tell me about yourself.
What are your strengths?
What are your weaknesses?
Why do you want this job?
Where would you like to be in your career five years from now?
What's your ideal company?
What attracted you to this company?
Why should we hire you?
Explanation:
They are basic questions :]
Answer
When you interviewing someone you have to ask the questions that would fit your topic. Example: What type of work are you looking for? Do u what to be manager? These type of questions are what you are looking for.
refers to a company having enough cash or convertible assets to pay its current liabilities.
Answer:
liquidity refers to a company having enough cash or convertible assets to pay its current liabilities.
Lilly, Briah, Chloe, and Terry are the directors and equal shareholders of Fantastic Holidayz Pty Ltd, a company that runs an exclusive airline company and operates in several high-rise office buildings in Melbourne. Briah is the Managing Director and Terry is the Chief Financial Officer. Lilly and Chloe are non-executive directors. The Company has adopted a written constitution which contains the following clauses: (36) A directors' meeting may be called by a director giving reasonable notice individually to every other director (37) Quorum for directors' meetings is four directors and the quorum must be always present during the meeting (42) A resolution of the majority of directors may resolve to remove another director of the company. Business is booming, and Fantastic Holidayz has made a great deal of money over the last few years. However, the Board of Directors have rejected Lilly's proposal to declare a dividend for the last 7 years in a row - and she is getting fed up. The other directors always outvote her, arguing that it is better to keep the profits in reserve and continue to expand the business. Terry is currently investigating the possibility of opening further destinations to their itinerary In October 2017 Lilly was overseas for a family funeral and on her return to Melbourne, she discovers that the other directors have met and passed resolutions to remove her as a director of the company. Lilly did not receive any notice of the director's meeting. In another resolution, the remaining directors voted to pay themselves $500,000 in bonuses - equating to the entire year's profit. Lilly is angry that she has been removed and not paid a bonus and comes to you for your professional advice and opinion. Further, Fantastic Holidayz has a longstanding agreement with several travel agencies, and in January 2018, Fantastic's financial accounts showed that one agency owed the company $85,000, and there was no applicable security Recently, Lilly discovered that by June 2018 the debt owing to Fantastic Holidayz had blown out to $200,000. Terry had approved additional credit without the knowledge of the other directors. He did this, even though the agency had been taking a long time to pay its overdue account. Additionally, there are now rumours that are insolvent, but this cannot be proven. REQUIRED: 1. Discuss whether Lilly can bring any action to challenge the other directors' decision to deny dividends for several years and then pay themselves bonuses? (5 marks) 2. Advise Lilly about the process and potential outcomes if the travel agency is placed into voluntary administration - and any implications of this on Fantastic Holidayz. (5 marks) 3. Advise Lilly about whether Terry has breached any of his statutory duties as a director of Fantastic Holidayz. Include in your answer the consequences of a breach of duty, whether Lilly could bring an action for compensation on behalf of the company against Terry, and whether there are any defences available.
It is important for Lilly to consult with a legal professional to assess the specific circumstances and determine the most appropriate course of action. Legal advice tailored to the jurisdiction and applicable laws should be sought.
1. Lilly's Challenge to Dividend Denial and Bonus Payment:
Lilly may have grounds to challenge the other directors' decision to deny dividends for several years and then pay themselves bonuses. The key considerations are as follows:
a) Breach of Fiduciary Duty: Directors owe a fiduciary duty to act in the best interests of the company. By consistently rejecting dividends despite profitable operations, the directors may be breaching this duty if their decision is not justifiable and reasonable. The decision to pay themselves bonuses without Lilly's approval further strengthens her case.
b) Unfair Prejudice: Lilly may argue that the denial of dividends and payment of bonuses unfairly prejudice her interests as an equal shareholder and director. This argument can be supported by the fact that dividends have been consistently denied for several years, and the bonuses were paid without her knowledge or consent.
c) Oppression of Minority Shareholder: If the other directors' actions substantially interfere with Lilly's rights as a shareholder and director, it could constitute oppression of a minority shareholder. Denying dividends and paying bonuses in a manner that excludes Lilly's interests may be viewed as oppressive.
Lilly can potentially bring legal action seeking remedies such as an injunction to stop the bonuses, an order for dividends to be paid, or a buyout of her shares at a fair value.
2. Travel Agency in Voluntary Administration:
If the travel agency owing $200,000 to Fantastic Holidayz is placed into voluntary administration, the process and potential outcomes can be summarized as follows:
a) Voluntary Administration: Voluntary administration is a process where an external administrator (usually a registered liquidator) takes control of the insolvent company to maximize returns for creditors. The administrator assesses the company's financial position and explores options, such as restructuring or selling the business.
b) Outcomes and Implications: During voluntary administration, the administrator may propose a Deed of Company Arrangement (DOCA) to the creditors. If approved, it could allow the travel agency to continue operating and repay the debt over an agreed period. Alternatively, if the company's financial situation is deemed irreparable, the administrator may recommend liquidation.
For Fantastic Holidayz, the outcome depends on the recovery of the debt. If the travel agency is unable to repay the owed amount, Fantastic Holidayz may have to write off the debt as a loss, potentially impacting their financial position. The impact could be significant if the debt is material to the company's operations.
3. Terry's Breach of Director's Duties:
Terry, as the Chief Financial Officer and a director of Fantastic Holidayz, may have breached his statutory duties. The key considerations are as follows:
a) Duty of Care and Diligence: Directors must exercise reasonable care, skill, and diligence in fulfilling their roles. Terry's approval of additional credit without the knowledge of other directors could be seen as a failure to exercise due care and diligence. The consequences of a breach may include personal liability for any loss suffered by the company.
b) Duty to Act in Good Faith and for Proper Purpose: Directors must act in good faith and in the best interests of the company. By approving additional credit for a customer with an outstanding overdue account, despite potential insolvency concerns, Terry may have breached this duty.
c) Consequences and Action for Compensation: If Terry is found to have breached his statutory duties, consequences may include personal liability for any loss suffered by the company due to his actions. Lilly, as a shareholder, may have standing to bring a derivative action on behalf of the company to seek compensation from Terry for any losses incurred.
d) Defenses: Terry may raise defenses such as relying on professional advice, acting in good faith, or having the belief that his actions were in the company's best interests. However, these defenses may not absolve him entirely from liability if his actions are found to be unreasonable or against the company's interests.
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What is profit in an economic system?
A. Profit is the investment a producer makes in the economy to achieve financial gain.
B. Profit is the net change in the value of the economy due to an exchange.
C. Profit is the financial gain resulting from an exchange.
D. Profit is the investment a consumer makes in the economy to achieve financial gain.
Answer:
I think D is correct answer
The profit in the economic system is the investment made by the consumer for accomplishing the financial gain.
The information related to the profit is as follows:
It is the surplus that comes after deducting the cost from the revenue made. It is the investment that should be made by the consumer for attaining financial gain.Therefore all the other options are incorrect.
Thus we can conclude that profit in the economic system is the investment made by the consumer for accomplishing the financial gain.
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Auditors may choose not to confirm accounts payable because:
The auditor may choose not to check the liability as other reliable external evidence is likely available to support the balance.
What is an auditor?An auditor is a person who verifies the accuracy of recorded commercial transactions. Auditors need to confirm that the processes are working as planned and that the financial statements prepared by the organization fairly reflect its operations and financial results. They mainly deal with statutory audits.
It examines the company's financial records and accompanying financial report presentations. This person can also independently analyze various processes within the company and assess the level of corporate governance. Internal auditors report their findings and suggestions for improvement to the Board of Directors.
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