Chapter 1 Question 2: Define the following terms and explain why they were important during the housing and credit crisis of 2007-2009. a. Mortgage b. Subprime loan c. Asset write-down Answer: Mortgage – is a contract whereby a borrower provides a lender with a lien on real property as security against a loan. Mortgage is important during the housing credit crisis because it is one of the major causes of the problems that financial institutions are facing during the crisis. The
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CHAPTER 5 Merchandising Operations and the Multiple-Step Income Statement ANSWERS TO QUESTIONS 1. (a) Disagree. The steps in the accounting cycle are the same for both a merchandising company and a service company. (b) The measurement of income is conceptually the same. In both types of companies‚ net income (or loss) results from the matching of expenses with revenues. 2. The components of revenues and expenses differ as follows: | | Merchandising | | Service | RevenuesExpenses
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Chapter 6 Forecasting Case Problem 2: Forecasting Lost Sales 1. The data used for the forecast is the Carlson sales data for the 48 months preceding the storm. Using the trend and seasonal method‚ the seasonal indexes and forecasts of sales assuming the hurricane had not occurred are as follows: Month Seasonal Index Month Forecast ($ million) January 0.957 September 2.16 February 0.819 October 2.54 March 0.907 November 3.06 April 0.929 December 4.60 May 1.011 June 0.937 July 0.936
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All girl schools have been gaining popularity in recent years because of the belief that girls learn better when they aren’t competing with or intimidated by boys‚ who statistically get more attention in the classroom. I think that whether or not boys or girls are in a same sex school it will not make a difference. I feel that the sex of your child and their peers should not determine whether or not they will do good or bad in school. I feel that in an all-girl school the girls can
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life-threatening ailment‚ a trip to the emergency room is what comes to mind immediately. Emergency department (ED) provides emergency care to our community twenty-four hours a day‚ seven days a week‚ and 365 days per year minus the waiting part. Wait time fluctuates throughout the day‚ from a few minutes to a few hours until a patient in the waiting area is seen in the triage. Regardless‚ the ED lives to the expectation of providing emergency care to any patient with acute or chronic sickness and injuries
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CHAPTER 10 CRITICISMS OF ABSORPTION COST SYSTEMS: INCENTIVE TO OVER-PRODUCE P 10-1: Solution to Federal Mixing (10 minutes) [Explaining absorption versus variable costing] Variable costing writes off to income all fixed manufacturing costs incurred during the year. Absorption costing prorates the fixed overheads between units in inventory and units sold based on machine hours. Absorption costing net income is higher than under variable costing by $1.2 million. This means that inventories
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Op Ed Speech – Analyzing Textual Arguments Critiquing persuasive appeals in an op-ed piece 50 pts Goals: -To develop creative and thoughtful analysis of persuasion -To pay close attention to revision‚ especially self-evaluation and offering helpful critiques in peer review workshops -To understand how to use the periodical resources in the MSU Main Library -To create and organize materials in a comprehensive presentation that includes a complete introduction‚ an organized and thorough
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Fin 4910/6990 Further Questions Problem 7.19 (a) Company A has been offered the rates shown in Table 7.3. It can borrow for three years at 6.45%. What floating rate can it swap this fixed rate into? (b) Company B has been offered the rates shown in Table 7.3. It can borrow for 5 years at LIBOR plus 75 basis points. What fixed rate can it swap this floating rate into? (a) Company A can pay LIBOR and receive 6.21% for three years. It can therefore exchange a loan at 6.45% into a loan at LIBOR plus
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Ed Hardy founder died at 57 The world especially the fashion industry has lost and hit with the sad news of the death of the well-known designer‚ and French entrepreneur‚ Christian Audigier. He is best known for creating the Ed Hardy clothing line. He has passed away at age 57. Christian Audigier‚ who is one of France’s renowned designers have gained international recognition over the years‚ He is reported to have died of Myelodysplastic Syndrome (MDS) which is also known as bone marrow failure
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PEARSON PRODUCT MOMENT CORRELATION COEFFICIENT Definition It is the measure of the linear correlation between two variables X and Y It is the measure of the strength of a linear association between two variables and is denoted by r. It tells you how strong the linear correlation is for paired numeric data e.g. height and weight. The Pearson correlation coefficient‚ r‚ indicates how far away all these data points are to this line of best fit. Development It was the imagination and idea of Sir Francis
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