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Microsoft Word – final exam fall 2013.docx

Question 4

You are a real estate developer and are trying to determine the EMV of your net commission from a sales call to a potential purchaser.

Assume that your transportation cost is $1.45 per mile Assume that the sales call is 70 miles round trip

Assume that your transportation time is 2.25 minutes per mile Assume that the value of your time for transportation is $55.00 per hour Assume that it will take 3 hours to meet with the potential purchaser Assume that the value of your time for the customer meeting is $150.00 per hour Assume that you will have a 19% chance of a successful sales call (sales call #1)

If sales call #1 is successful, you will sell a house valued at $275,000 with likelihood = 55%

you will sell a house valued at $300,000 with likelihood = 35%

you will sell a house valued at $425,000 with likelihood = 10%

Assume that your commission will be 2.5% of the value of the house if sales call #1 is successful.

a) What is the expected cost (time and transportation) of sales call #1?

b) Without assuming that the sales call will be successful (that is, it may or may not be a success), what is the expected gross commission of sales call #1 (do not net out the expected costs)?

Suppose you have a second possible sales call (sales call #2). Assume that the expected cost remains the same and that the commission rate remains 2.5%, but that the following information is the different information for sales call #2.

Assume that you will have a 12% chance of a successful sales call (sales call #2) If sales call #2 is successful, you will sell a house

valued at $285,000 with likelihood = 45% you will sell a house valued at $320,000 with likelihood = 25% you will sell a house valued at $355,000 with likelihood = 30%

c) Assuming that your sales call is successful, which sales call is the maximin sales call? (Don’t simply define maximin, but use values to justify your response).

 

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 A business producing packaged food products would have the following variable costs:Select one: a. Ingredients b. Computers c. Packaging equipment

Question 2

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Accounting is used to communicate financial information to 2 different groups, internal customers and external customers. External users are:Select one:a. People outside of the business like investorsb. Suppliersc. Stockholders

Question 3

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Assets are just one of the accounts listed on the:Select one: a. statement of cash flows b. income statement c. balance sheet

Question 4

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Break-even determines the point when ________ covers fixed expenses.Select one:a. Variable Costs  b. Salary Expense  c. Contribution Margin

Question 5

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Contribution Margin covers fixed expense at:Select one:a. Equilibrium.  b. Break-even.  c. Year end.

Question 6

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Eliza has just opened a new business near campus that is a combination of a laundromat, a nail salon, and a tanning studio. There is an accounting firm located just down the street and Eliza is paying them to do all of her accounting. At the end of the first quarter (three months of business), Eliza has several questions about how things are going. If she wants to understand how much debt the business has right now, then she should look at the ________ that her accountant has prepared.Select one:  a. the income statement  b. the statement of owner’s equity   c. the balance sheet

 Question 7

Extotech has sales of $50 million, cost of goods sold for the same period of $15 million, and average inventory of $250,000. What is Exotech’s inventory turnover?Select one:a. 20b. 200c. 60

Question 8

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Financial accountants:Select one: a. provide information to external entities that allows them to evaluate business performance.  b. have a primary focus on providing managers within the organization with reports to make good business decisions.  c. summarize the company’s production activities in a way that allows managers to make decisions.

Question 9

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Given a contribution margin of $20, if 10,000 units are produced at a cost of $400,000 what is the sales revenue in USD?Select one:  a. $600,000  b. $60  c. $200,000

Question 10

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In a manufacturing operation a variable cost necessary to produce the finished product includes:Select one: a. rent. b. parts. c. electricity.

Question 11

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In a manufacturing operation building rent is considered:Select one: a. Variable Cost  b. Asset  c. Fixed Cost  

Question 12

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Income statements and statement of owner’s equity are two of the financial statements used to explain changes in a business:Select one: a. during a period of time.  b. from the beginning of the business.  c. a specific moment in time.

Question 13

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The accounting equation is:Select one: a. owner’s equity = assets + liabilities  b. liabilities = assets + owner’s equity  c. assets = liabilities + owner’s equity

Question 14

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The balance sheet shows which type of account?Select one: a. net sales  b. purchases  c. assets

Question 15

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The break-even point for a business is:Select one: a. the point where income is equal to expenses.  b. the point where costs exceed revenue.  c. the point where profitability is achieved.

Question 16

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The income statement shows which types of accounts?Select one:  a. income  b. assets  c. credits 

Question 17

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The main goal of accounting is to provide this kind of data to users:Select one: a. scientific data  b. employment data  c. financial data

Question 18

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The No Doze Cafe coffee shop sells 50 different types of coffee to its patrons. It costs $4 for a cup of coffee. Each day it sells on average 500 cups of coffee. On the weekends it sells closer to 1000 cups of coffee. Here is a breakdown of the shop’s expenses per cup of coffee:

Variable Costs:Item/Amount Coffee/Water$1.50;Paper Cup$0.30;Sweetener;$0.20Fixed Costs:Item/Amount Labor$100/day per employee;Store Space Rent$800/month

What is the contribution margin for the shop selling one cup of coffee on an average day?Select one: a. $2.50 b. $1.92 c. $2.00

Question 19

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The ________ provides a snapshot of the company’s financial position at a specific point in time.Select one: a. income statement  b. statement of cash flows  c. balance sheet

Question 20

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The ________ shows the income and expenses of a company over a period of time.Select one:  a. statement of cash flows  b. balance sheet  c. income statement 

 

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Need help with my writing homework on Cultural Acceptance of Tattooing. Write a 2250 word paper answering; Tattoos may have given the people with them a bad image, as people without tattoos rightly or wrongly associate tattoos with trouble – makers or criminals. Organizations ranging from private companies through to government departments or institutions have not always treated people with tattoos fairly for the reasons presented below.

The art of tattooing is an old one that can be traced back many centuries to countries such as China and Japan. Admirers of tattoos would argue that it was the start of a new art form, whilst detractors would count that it was the beginning of an unnecessary or undesirable social practice that should be discouraged. Although as an art form it was most advanced in China and Japan that was also where people with tattoos got a bad reputation. The following quote describes the origins of tattoos:

The word tattoo can be traced to the Tahitian tatu or tatau, meaning to mark or strike ~ the latter referring to traditional methods of applying the designs. In Japanese, the word used for traditional designs or those that are applied using traditional methods is irezumi (“insertion of ink”), while “tattoo” is used for non-Japanese designs.1

Tattoos have therefore been socially unacceptable for the vast majority of the time that they have existed. In most societies, the majority of people that would describe themselves as being socially and morally respectable has shunned tattoos. Despite the stigma attached in many countries to tattooing, it seems to become increasingly popular. The art of tattooing has been put to many uses throughout many centuries. The quote below gives a strong indication of the number of uses for tattoos. This list is certainly not exhaustive by any means:

Tattoos have served as rites of passage, marks of status and rank, symbols of religious and spiritual devotion, decorations for bravery, sexual lures and marks of&nbsp.fertility, pledges of love, punishment, amulets and talismans, protection, and as the marks of outcasts, slaves and convicts.

 

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Write a 3 page essay on Question: Comparative Perspectives on South Asia.

In this community, ethnic and the religious differences have had obvious gender effects. With Nepal having a heterogeneous population structure drawn along the ethnic lines. For example, from Hindu high-caste women, to the Thakali women who are accredited for their business mindedness to the Limbu women who are liberal and free to divorce as well as remarrying, the women in Nepal have relations that have been historically structured very differently. According to Farida Shaheed, though the fusion between religion and politics, as well as its impact on women, has been frequently scrutinized through an exclusive political science rhetoric drawn along the state power dynamics, the approach seems to be very inadequate. According to Tamang (2009), in Pakistani, and probably the world over, the political contestations are seen to be agitated by the economic and cultural factors. In this society, a politico-religious project that champions for the gender-normative regulations can be visible in the dress codes, the restricted activities, and their seclusion.

As early as 1953, uncertain liberalism had become even more complicated when it came to women with General Ayub Khan mobilizing an anti-woman-head-of-state religious opinion that sought to remove his rival Fatima Jinnah in the 1965 presidential elections. Before 1977, in Pakistani, the female fraternity was the victim of the state’s negligence as well as the patriarchal outlook, which blocked curtailed progress with no serious attempts to reverse their rights. Interestingly, this rule was differentiated on so many levels. Feminists have to address the problem of class differences (Tamang, 2009. p. 63). For example, Pakistani women compose of interesting contradictions and contrasts with the doctors, professionals, academicians, engineers and doctors differing significantly from their rural

 

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