Plastics Ontario (PO) has recently been incorporated under federal legislation. All the shares are owned by one man, Tom Slank. PO will be active in the molded plastics industry, making everything from custom lettered signs to consumer products (e.g., toys) and industrial products (e.g. car dashboards). They will also supply chemicals to other, smaller plastic molding operations.
Slank has 20 years’ experience in both production and sales with a large Canadian plastics firm. He took advantage of several recent bankruptcy sales to acquire the manufacturing and molding equipment necessary to start his own firm. He has obtained a 10-year, fixed interest loan from the Federal Business Development Bank, a line of credit from a chartered bank for working capital and has invested $400,000 of his own money. Both banks required audited financial statements.
The major pieces of equipment acquired cost $700,000. Another $60,000 will be spent transferring them to PO’s new leased facility. Slank estimates another $80,000 will be spent "debugging" the equipment.
Sales are expected to be made on three bases:
1. Custom signs on a prepaid basis. Signs would normally be completed within five business days but could take up to a month for a large order or if volume was high.
2. Direct sales to distributors and manufacturers on terms of 2/10, n/30. Interest on overdue accounts will be 1.4 percent per month. Customers can return defective goods for full credit, and, in common with the industry, goods carry a six-month warranty.
3. Customer goods to retail outlets on a consignment basis. Slank does not expect to be able to run his molding equipment at full capacity from "outsider" orders for at least two years. Therefore, he plans to design and market a few consumer products (e.g., doll houses) to keep his operation busy. Several large retail chains have expressed interest in carrying these items but only on a consignment basis. Slank estimates that it will cost him $40,000 to design and develop these items.
Slank hopes to break even in the second year of operation and show a profit in the third year. Losses are anticipated for the first year. He has planned to take an extremely low salary for the first three years until he is satisfied that the company can prove its viability. Slank has established relatively low salary levels for his management team but has promised them generous bonus based on net income. Slank has approached you, CPA, to act as financial advisor. He has requested advice on accounting policies and other relevant issues.
Task: Adopt the role of adviser to Mr. Slank and draft a report responding to his request.

Answer:

A business plan is a written document that describes in detail how a business usually a startup may defines its objectives and how it is to go about achieving its goals.

Answer:

According to Wikipedia, A business plan is a formal written document containing the goals of a business, the methods for attaining those goals, and the time-frame for the achievement of the goals.

Answer:

A customer need is a need that motivates a customer to purchase a product or service. 

Cost-Volume-Profit (CVP) analysis is an approach used by management to determine the relationship between cost, volume, and profit.

The break-even point is where the total revenue from sales equals the total costs of production and marketing. It represents the level of production or sales required to recover the total cost incurred during the production of goods or services.

In this question,

we have been asked to calculate the break-even point and the number of hot dogs required to make a weekly profit of $90.

Assuming that hot dogs are sold at $5.00 each and the food cost per hot dog is $2.00.

Hence, the contribution margin per hot dog would be $3.00 ($5 - $2).

Break-even point formula is as follows:

Break-even point = Total fixed costs / Contribution margin Let the number of hot dogs that must be sold to break even be x.

Then, $60 (advertising cost) represents the total fixed costs.

Thus, the break-even point can be calculated as follows:

$$60 / $3 = 20 hot dogs$$Thus, the break-even point is 20 hot dogs.

To make a weekly profit of $90,

we will have to calculate the number of hot dogs to be sold with the help of the following formula:

Profit = (number of hot dogs sold × contribution margin) − fixed costsLet the number of hot dogs that must be sold to earn a profit of $90 per week be y.

Thus, the calculation can be done as follows:

$90 = (y × $3) − $60$90 + $60 = $3y$150 = $3yy = 50 hot dogs

Therefore, Brian and Jean-Mikael will have to sell 20 hot dogs to break even and 50 hot dogs to make a weekly profit of $90.

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Demographic groups do Women in Motion serve, Akela Peoples is an award-winning teacher and entrepreneur who has helped over 20,000 young women create career plans.

Demographic evaluation is the take a look at a populace primarily based totally on elements including age, race, and gender. Demographic information refers to statistically expressed socioeconomic records including employment, education, income, marriage rates, start rates and loss of life rates.

Examples of diagnosis. It is included. Demographic studies consist of 5 simple themes. Distribution over a geographical area. its composition (including age, gender, race, and different characteristics); modifications in populace size, distribution, and composition over time; Determinants and outcomes of populace growth.

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Answer:

D. Food service chain​

Explanation:

In business ownership, a chain of restaurants refers to several restaurants owned by one organization. In other words, in a food service chain, the owner(s) will have many branches located in different locations. Because the restaurant belongs to one entity, they are similar in appearance and operations.

A chain of business is different from a franchise business. In a franchise, the branches are identical but have different owners.

We can use the continuity formula to figure out the number of units sold necessary to reach our target profit of $7,900: Target Profit x Units Sold = (Price - Variable Expense) x Total Sales + Fixed Expense.

Rent, mortgage payments, and car payments are examples of fixed expenses that typically cost the same amount each month, whereas variable expenses fluctuate from to month to month.

Units Sold x ($134-$67) = $7900 + $32300

Units Sold x $67 = $40100

Units Sold: ($40,100/$67) = 600 (approx)

Thus, in order for Lin Corporate entity to achieve its target profit of $7,900, 600 units must be sold.

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The gap between rich and poor is a huge problem all around the world. It is a significant issue as it leads to poverty, social unrest, and even violent conflict.

The causes of the gap between rich and poor are several, including but not limited to globalization, technological advancements, government policies, and corruption. In order to bridge the gap between rich and poor, there are various steps that can be taken.

As future accountants, we can play a significant role in bridging the gap by ensuring that financial transactions are recorded and reported correctly, assisting in creating employment opportunities, and promoting the use of sustainable practices in business.

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If an auditor discovers validity problems after creating ACL tables with client data, they should analyze the type and scope of the defects to assess their possible impact on the audit.

This might entail going through the data source, the import parameters, and the logic of the queries used to build the tables. If the inaccuracies are significant or widespread, the auditor may need to reconsider their audit techniques, gather new data, or review the risks connected with the area being examined. The auditor should also notify the customer of any inaccuracies and collaborate with them to rectify any difficulties or discrepancies in the data. Auditors must document their conclusions, including any flaws or contradictions in the data and the methodology.

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Phillip should recognize that this is a straight rebuy purchase for the company.

A straight rebuy purchase is a situation where a customer has bought a product from a supplier in the past and plans to buy the same product again. In this case, since the buyer has already worked with Phillip and is familiar with his product, they have a well-established relationship and they understand how the shelving system works.

Therefore, the buyer has informed Phillip that he will be the only one involved in the purchase decision, and this indicates that the buyer is not interested in exploring new options or different suppliers, making it a straight rebuy purchase.

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Answer:

$1,013.67 and $13.67

Explanation:

The formula for calculating compound interest is as follows

FV = PV × (1+r)^n

Where Fv is the future value

Pv is the present value, $1000

r is the interest rate 4%

n is number of periods= 2 months

Since time is in months, applicable interest rates will be 4% per year divided by 12 months multiplied by 2

=4/12 x 2 =0.67%

Fv = $1000 x (1 + 0.67/100)^2

Fv = $1000 x (1.0067)^2

Fv = $1000 x 1.01344489

Fv= $1,013.44

The amount will be $1,013.44.

Interest will be $1,013.44 - $1000 = $13.44

Janet needs to invest $3521 now to reach her goal of $12000 in 11 years.

Janet wants to have $12,000 in 11 years. A.P.R is 11.50%. Compounded monthly. To calculate how much she should invest now to guarantee her goal, we need to use the compound interest formula which is given as

A = P(1 + r/n)^(nt)

where A is the amount of money accumulated after n years including interest P is the principal amount (the initial investment) rn is the annual nominal interest rate (as a decimal) nt is the number of years the amount is deposited for Janet wants to invest now to reach her goal, so we need to find P.

P = A / (1 + r/n)^(nt)

Let's substitute the given values in the formula,

P = 12000 / (1 + 0.115 / 12)^(11*12)P = $3521

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It is important for auditors to select the most appropriate methods based on the audit objectives, available resources, and the nature of the organization being audited.

During our group discussion, we explored various methods for gathering information for an audit in a typical organization. We identified the following five methods:

Interviews: Conducting interviews with key personnel and stakeholders involved in the audited processes provides valuable insights and firsthand information. Interviewees can include employees, managers, department heads, and relevant subject matter experts. Structured interviews, open-ended questions, and follow-up discussions can help uncover important details.

Document Review: Reviewing documents such as financial statements, invoices, contracts, policies, procedures, and internal reports can provide a comprehensive understanding of the organization's operations and processes. Analyzing these documents helps assess compliance, identify risks, and verify accuracy.

Observation: Directly observing activities and processes within the organization can provide a practical understanding of how things work in practice. By observing workflows, control procedures, and employee behaviors, auditors can assess adherence to policies, identify potential gaps, and evaluate the effectiveness of internal controls.

Data Analysis: Utilizing data analytics tools and techniques to analyze large volumes of data can uncover patterns, anomalies, and trends. By examining financial data, transaction records, and other relevant datasets, auditors can identify potential fraud, errors, and areas of concern.

Sampling: When dealing with large datasets, auditors often use sampling techniques to select a representative subset of data for analysis. Random sampling or stratified sampling can be employed to draw conclusions about the entire population based on the findings from the selected sample.

It is important for auditors to select the most appropriate methods based on the audit objectives, available resources, and the nature of the organization being audited.

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Answer:

Employees,Governments,Local communities,customer

Answer:

349/36= 9.694

34x6= 204

9.694 + 204= 203.694

What Muhammad found unsatisfactory about the Certificate of deposit is that the return on the investment was too low.

Basically, a certificate of deposit is under a Short term investment instrument which yields low interest value for investors.

The Short term investment yields on investment are low because it is for short period of time and involves lesser risks. Other instruments under Short term investment includes Money market etc.

Therefore, the option C is correct because the Certificate of deposit was seen as unsatisfactory by Muhammad because the return on the investment was too low.

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Answer:

here are all the answers to this quick check

Explanation:

1. an individual purchases stock with the intent to sell it later at a higher price

2. The return on his investment was too low.

3. higher returns and higher liquidity than other investments

4. Elena could purchase multiple assets from multiple sources.

5. She might miss a better investment opportunity because real estate is not particularly liquid.

I just took it and got 5/5 hope this helps :)

Ratio:

a) Return on equity %

b) Days in inventory

c) Days in accounts receivable

Account balance:

a) Net income

b) Inventory

c) Accounts receivable

Assertion:

a) Existence

b) Valuation

c) Completeness

Justification:

Ratio:

a) Return on equity %: Return on equity is a key profitability ratio that measures the company's ability to generate profits for shareholders. It is of interest to auditors as it provides insight into the effectiveness of the company's management team in generating profits. A lower than expected return on equity could indicate mismanagement or fraudulent activity.

b) Days in inventory: Days in inventory is a ratio that measures the average number of days it takes for inventory to be sold. It is of interest to auditors as it provides insight into the efficiency of the company's inventory management system. A high number of days in inventory could indicate that inventory is not being managed efficiently, leading to potential overstatement of inventory and understatement of cost of sales.

c) Days in accounts receivable: Days in accounts receivable is a ratio that measures the average number of days it takes for customers to pay their bills. It is of interest to auditors as it provides insight into the efficiency of the company's accounts receivable management system. A high number of days in accounts receivable could indicate that the company is not collecting receivables in a timely manner, leading to potential overstatement of accounts receivable and understatement of bad debts.

Account balance:

a) Net income: Net income is the primary measure of a company's profitability. It is at risk if the return on equity ratio is lower than expected, as it may indicate mismanagement or fraudulent activity.

b) Inventory: Inventory is a major component of cost of sales and is at risk if the days in inventory ratio is higher than expected, as it may indicate potential overstatement of inventory and understatement of cost of sales.

c) Accounts receivable: Accounts receivable represent amounts owed to the company by customers. They are at risk if the days in accounts receivable ratio is higher than expected, as it may indicate potential overstatement of accounts receivable and understatement of bad debts.

Assertion:

a) Existence: The existence assertion is at risk for net income if the return on equity ratio is lower than expected, as it may indicate mismanagement or fraudulent activity.

b) Valuation: The valuation assertion is at risk for inventory if the days in inventory ratio is higher than expected, as it may indicate potential overstatement of inventory and understatement of cost of sales.

c) Completeness: The completeness assertion is at risk for accounts receivable if the days in accounts receivable ratio is higher than expected, as it may indicate potential overstatement of accounts receivable and understatement of bad debts.

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Answer:

autocratic​

Explanation:

In autocratic leadership, the leader takes charge of all decisions makings. He or she does not consult the input from group members. Autocratic leaders, also known as authoritarian, typically make choices based on their ideas and judgments and rarely accept followers' advice.

One advantage of autocratic leadership is that decisions are made very fast. Since the leader does not need to consult anybody, he uses his judgment to make a decision. Autocratic style of leadership contrast with democratic leadership, where the leader consults members before making decisions.

If the deadweight loss in the market represented by the graph is $1,380, then the actual economic surplus is $4,620.

The economic surplus is the overall benefit that society receives from the production and consumption of goods and services. The economic surplus is the sum of consumer and producer surpluses in the market. Deadweight loss is the reduction in economic efficiency that occurs when the equilibrium output level is not attained.The area of the triangle is the deadweight loss. The area of the rectangle is the economic surplus, and the area of the triangle is the deadweight loss.

The height of the triangle is $30 - $18 = $12. The length of the triangle is 90 - 80 = 10. The area of the triangle is 1/2bh = 1/2 x 12 x 10 = $60. Economic surplus = 1/2 x $12 x (90-40) + $20 x (90-40) + $60 = $4,620. Therefore, if the deadweight loss in the market represented by the graph is $1,380, then the actual economic surplus is $4,620.

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Answer:

wow i totally need this

Explanation:

Answer: I would experience a lot of cluster chains speaking on if someone was in trouble. An employee would be called to the back office if they were either in trouble or getting a promotion.

Explanation:

Bruce is experiencing an economic loss of $20,000 by choosing to work as a graphic artist instead of a writer.

To calculate Bruce's economic profit from choosing to work as a graphic artist, we need to consider his opportunity cost, which is the forgone income he would have earned as a writer.

If Bruce had worked as a writer, he would have earned $45,000. However, he chose to work as a graphic artist and earned $25,000 in accounting profits. Accounting profit is the total revenue earned minus the explicit costs, such as equipment and material costs.

To calculate Bruce's economic profit, we need to subtract his opportunity cost from his accounting profit. Therefore, his economic profit can be calculated as:

Economic profit = Accounting profit - Opportunity cost

Economic profit = $25,000 - $45,000

Economic profit = -$20,000

The negative economic profit means that Bruce's decision to work as a graphic artist instead of a writer resulted in a loss of $20,000. In other words, if Bruce had worked as a writer, he would have earned $20,000 more than what he earned as a graphic artist.

This calculation highlights the importance of considering opportunity costs when making economic decisions. While Bruce may enjoy working as a graphic artist, he could have earned more by working as a writer, which was his next best alternative.

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Answer:

\( \huge{ \red{A} \green{N} \blue{S} \orange{W} \pink{E} \red{R} \blue{:-}}\)

When consumers make choices about the quantity of goods and services to consume, it is presumed that their objective is to maximize total utility. In maximizing total utility, the consumer faces a number of constraints, the most important of which are the consumer's income and the prices of the goods and services that the consumer wishes to consume. The consumer's effort to maximize total utility, subject to these constraints, is referred to as the consumer's problem. The solution to the consumer's problem, which entails decisions about how much the consumer will consume of a number of goods and services, is referred to as consumer equilibrium.

How should a common data source like monthly sales totals be categorized: Structured data:

Data that squeezes into predefined fields is called structured data. It's frequently coordinated by lines and sections, as you will track down in a calculation sheet. Bigger frameworks utilize social databases to arrange structured data that has different aspects. Structured data is helpful to store, dissect and report.

For instance, consider the marketing chart of a business, that shows deals income by district, side-effect, by month, etc. Client databases, monetary reports, financial data, wellbeing records, and, surprisingly, instructive records - all are instances of structured data. Up to this point, the greater part of the data we use has forever been Structured data.

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The complete question is:

How should a common data source like monthly sales totals be categorized?

a. structured data

b. dirty data

c. multimedia data

d. unstructured data

Answer:

the answer is planning, ensuring, and acting

The cash balance at the end of the period is $10,907.

To calculate the cash balance at the end of the period we want to add the cash inflows and subtract the cash outflows from the start cash stability.

beginning cash stability = $4,769

Cash inflows:

Cash outflows:

Ending cash balance = beginning cash balance + general cash inflows - total cash outflows

Therefore, the cash balance at the end of the period is $10,907.

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Two interconnected external environmental factors are technological advancements and consumer behavior.

Technological advancements have a significant impact on consumer behavior as they shape the way people interact with products and services. For example, the rise of e-commerce and mobile payment technologies has transformed the way consumers shop, leading to a shift from traditional brick-and-mortar stores to online platforms. Similarly, advancements in social media and digital marketing have influenced consumer preferences and purchasing decisions, as companies now have the ability to target specific demographics and personalize advertising campaigns based on consumer behavior data. In turn, consumer behavior also drives technological advancements, as companies innovate to meet changing consumer demands. For instance, the increasing demand for eco-friendly products has led to the development of sustainable technologies and practices in various industries. These examples demonstrate the interconnection between technological advancements and consumer behavior, where advancements drive changes in consumer behavior, and consumer behavior, in turn, shapes technological development.

Technological advancements and consumer behavior are interconnected factors that mutually influence and drive each other, leading to changes in how products and services are developed, marketed, and consumed in response to evolving consumer preferences and needs.Two external environmental factors that are interconnected to each other are technological advancements and changes in consumer behavior. Technological advancements can bring about changes in consumer behavior because they provide individuals with new options and possibilities. For instance, the rise of online shopping has led to changes in how consumers shop and pay for goods.Technological advancements have led to changes in consumer behavior by providing them with new options and possibilities. For example, people can now use their smartphones to shop online. This has led to a shift in the way people shop, with more and more people opting to shop online rather than in physical stores.The two external environmental factors are interconnected to each other because technological advancements can affect consumer behavior, while changes in consumer behavior can also drive technological advancements. For example, the increasing demand for eco-friendly products has led to a rise in technological innovations that support the creation of such products. Similarly, the shift towards digital payments has led to the development of new payment systems such as digital wallets and mobile payments.In summary, technological advancements and changes in consumer behavior are two external environmental factors that are interconnected to each other because they affect and influence each other.

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Explanation:

It is important to note that much of the intermittent formal learning throughout people's....Part of being an effective facilitator of informal learning ( and non-formal education) involves.

Answer:

The definition of facilitate is "to make easy" or "ease a process." What a facilitator does is plan, guide and manage a group event to ensure that the group's objectives are met effectively, with clear thinking, good participation and full buy-in from everyone who is involved.

Interacting with everyone in a similar experience is crucial for a more fulfilling metaverse experience. As a result, choice (B) is the proper response.

In science fiction and futuristic literature, the metaverse is a fictitious version of the Internet that is a single, all-encompassing virtual environment made possible by the usage of virtual reality (VR) and augmented reality (AR) devices. A metaverse is a collection of 3D virtual environments that are mostly utilized for social interaction.

The words "meta" and "universe" were combined to create the phrase "metaverse," which first appeared in the science fiction book Snow Crash in 1992.

Hence, option (B) is accurate.

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