The journal entry to correct this mistake when discovered will include a credit to accounts payable for $9.
What is a journal entry?These are entries that entails the detailed record of all the transactions done by a business such as reconciling accounts and transferring information to other accounting records.
Given data
Norris Industries issued a check in the amount of $845 to a supplier on account.The disbursement was recorded incorrectly as $854.Adjusting entry amount = $854 - $845
Adjusting entry amount = $9
Therefore, the journal entry to correct this mistake when discovered will include a credit to accounts payable for $9.
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If the company sues the plumber to recoup its loss in the lawsuit, which party will prevail?
The company can recover 100% of the judgment as an indemnity, because the plumber was negligent, not the company.
A group of people can get together to form a company, which is a legal body used to conduct and manage commercial or industrial business operations. The business lines of an organization rely on its structure, which can be a company, a partnership, or even a sole proprietorship.
A one-person business is one that has just one person as a member, according to Section 2(62) of the Companies Act. Additionally, shareholders or subscribers to a business's memorandum of organization are all that a firm has as members. In essence, an OPC is a corporation with just one stakeholder on the payroll.
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The human resource department of a company brings in a consultant to evaluate its performance management system. The consultant says she evaluated the validity of the system's performance measures and identified some deficiencies. What does the consultant most likely mean
It is most likely that the consultant means that some behaviors that contribute to business success are not being measured when she evaluated the validity of the system's performance measures and identified some deficiencies.
Who is a consultant?This refers to the person that provides or gives a professional or expert advice in a particular field of science or business to either an organisation or individual
The consultant for the human resource department is hired to give a professional advice on the performance management system of the firm.
Therefore, the consultant means that some behaviors that contribute to business success are not being measured when she evaluated the validity of the system's performance measures and identified some deficiencies.
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What account tracks the inflow of net assets that occurs when a business provides goods or services to its customers?
The revenues account tracks the inflow of net assets that occurs when a business provides goods or services to its customers.
A revenue account is what, exactly?The assets that a business generates through its operations and commercial activities are called revenues. As a result, revenues also comprise the money or receivables that a business receives from the sale of its products or services.
With a credit balance, the revenue account is an equity account. Accordingly, a credit to the revenue T-account raises the account balance.
Types of Revenue Accounts
Revenue accounts come in a wide variety of forms, but they always convey the same fundamental ideas: a corporation receives money or a right to the money in exchange for using or selling its assets. Operating and non-operating revenues, often known as other income, are commonly used to categorize revenues.
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When a shortage occurs in a competitive market, there is an incentive for suppliers to:______.
When a shortage occurs in a competitive market, there is an incentive for suppliers to "increase" the quantity of a good or service supplied to the market.
A Market Shortage occurs when there is excess demand- that is quantity demanded is greater than quantity supplied. In this situation, consumers won't be able to buy as much of a good as they would like.
What happens when a shortage occurs?A shortage is a situation in which demand for a product or service exceeds the available supply. When this occurs, the market is said to be in a state of disequilibrium. Usually, this condition is temporary as the product will be replenished and the market regains equilibrium.To learn more about competitive market shortages, click the links.
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Correct Question - When a shortage occurs in a competitive market, there is an incentive for suppliers to the quantity of a good or service supplied to the market.
Commonly used in accounting analysis, a ____ shows a relationship between two elements of a firm's financial statements
Commonly used in accounting analysis, a Financial Ratio shows a relationship between two elements of a firm's financial statements
A financial ratio is a measure of the relationship between two or more components of a company's financial statements. These metrics provide a quick and easy way to track performance, benchmark against industry peers, identify problems, and proactively implement solutions.
They are primarily used by outside analysts to determine various aspects of the company, such as B. Profitability, liquidity, and solvency.
a financial ratio is divided into five types: liquidity metrics, leveraged financial metrics, efficiency metrics, profitability metrics, and market valuation metrics.
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How do the concepts of cognitive dissonance and organizational/ethical dissonance relate to whether an accountant might choose to blow the whistle on corporate wrongdoing?
By intending to exemplify the interaction between the individual and the organization based on perceived person-organization ethical fit at different stages of the contractual relationship in each potential ethical fit scenario, the Ethical Dissonance Cycle model adds to the body of existing literature.
According to Haslam (2004), a person's association with the group they identify with can have some effect on how they perceive themselves. This idea contends that an individual's nature reacts to the social contracts that surround it (Jones & Hiltebeitel, 1995; Kohlberg, 1976).
The EDC aims to illustrate how moral principles and an individual's opinion of how well they fit in an organization affect how individuals relate to one another and define themselves.
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A qualitative forecasting method which utilizes structured questionnaires submitted to potential customers soliciting opinions about potential products to estimate likely demand is.
A qualitative forecasting method which utilizes structured questionnaires submitted to potential customers soliciting opinions about potential products to estimate likely demand is market surveys.
What are Qualitative forecasting ?
Qualitative forecasting is an estimation methodology that uses expert judgment, rather than numerical analysis. This type of forecasting relies upon the knowledge of highly experienced employees and consultants to provide insights into future outcomes. This approach is substantially different from quantitative forecasting, where historical data is compiled and analyzed to discern future trends.
When to Use Qualitative Forecasting ?
Qualitative forecasting is most useful in situations where it is suspected that future results will depart markedly from results in prior periods, and which therefore cannot be predicted by quantitative means. For example, the historical trend in sales may indicate that sales will increase again in the next year, which would normally be measured using trend line analysis; however, an industry expert points out that there will be a materials shortage at a key supplier that will force sales downward.
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When a financial institution acts as a(n) ____ to an interest rate swap, it simply arranges a swap between two parties. a.counterparty b.ultraparty c.broker d.none of these are correct.
When a financial institution acts as a broker to an interest rate swap, it simply arranges a swap between two parties.
A broker is someone who buys and sells things on behalf of others. They are the middlemen between two parties. A broker is an individual or a firm who executes buy and sell orders for an investor for a commission or fee.
Usually financial institution acts as a broker to an interest rate swap. An interest rate swap is an agreement between two parties in order to exchange one stream of interest payments for another, over a set period of time.
Hence, financial institution simply arranges an interest rate swap between two parties.
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When the price elasticity of demand for a good is very inelastic, quantity demanded is _____ to a change in price and the demand curve is relatively _____
When the price elasticity of demand for a good is very inelastic, the quantity demanded is higher than a change in price and the demand curve is relatively less than 1.
In general, the demand for a terrific is said to be inelastic (or quite inelastic) whilst the PED is less than one (in absolute fee): that is, changes in fee have a less than the proportional impact on the quantity of the good demanded.
Demand is taken into consideration inelastic while the elasticity is less than one, this means that the amount of actions is proportionately much less than the rate.
Alternatively, if the fee for an inelastic appropriate is elevated and the call does now not trade, the overall revenue increases because of the better fee and static amount demanded. However, the price will increase usually do cause a small lower in the quantity demanded.
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The amount for which a promissory note is written is called the:_______
a. realizable value
b. face value
c. maturity value
d. proceeds
The amount for which a promissory note is written is called the face value.
Promissory notes: What Are They?
A promissory note is a type of debt instrument that includes a written commitment by one party (the note's issuer or maker) to pay another party (the note's payee) a specific amount of money, either immediately or at a predetermined later date.
The parameters of the debt, including the principal amount, interest rate, maturity date, date and location of issuance, and the issuer's signature, are normally all included in a promissory note.
Various Promissory Note Types
Promissory Notes for Business CreditNotes for investmentsBuying Promissory Notes.Learn more about promissory notes with the help of the given link:
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When implementing the razor-razor-blade strategy, companies make their profit from:________
When implementing the razor-razor-blade strategy, companies make their profit from complementary goods.
What do complementary goods consist of?
A good that complements another by adding value to it is called a complementary good. They are therefore two products that the consumer utilizes in tandem. Take cereal and milk or a DVD and a DVD player as examples.
When a complementary good is absolutely necessary, as, with gasoline and an automobile, that situation arises. A supplementary good, however, might enhance the value of the first product. Take pancakes and maple syrup as one example.
What Is An Example Of Complementary Goods?
The following are some instances of complementary goods:
Tennis racquet and ballsSim cards and mobile phonesCars and GasBurger and Burger BunsPlayStation and Games.Learn more about complementary goods with the help of the given link:
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Actual sales volume for a period is 5,000 units. budgeted sales volume is 4,500. actual selling price per unit is $15 and budgeted price per unit is $15. 75. the sales price variance is $__________.
Actual sales volume for a period is [tex]5,000[/tex] units. budgeted sales volume is [tex]4,500[/tex]. actual selling price per unit is $[tex]15[/tex] and budget price per unit is $[tex]15. 75[/tex]. the sales price variance is $[tex]3,750[/tex]
Sales Price Variance:
The term "sales price variation" describes the discrepancy between a company's anticipated price for a good or service and the amount that was actually paid for it.
Reduced competition, higher sales price realization, general inflation, a sudden rise in product demand, etc. are a few potential reasons for a favorable sales price variance.
Sales Price Variance = (Actual Sale Price – Standard Sale Price) × Actual Quantity Sold.
Calculation of the Sales Price Variance :-
Sales Price Variance = ( Actual price [tex]-[/tex] Budgeted price)× Actual quantity
Sales Price Variance = [tex]( $15 - $15.75) * 5,000[/tex]
Sales Price Variance = $[tex]3,750[/tex] Unfavorable.
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The ____ is the point in time by which systems and data must be recovered after an outage as determined by the business unit.
The recovery point objective is the point in time by which systems and data must be recovered after an outage as determined by the business unit.
Here are several examples of recovery point objectives in action: in the case of an enterprise that makes use of conventional tape backups, take into account a backup plan that schedules backups twice a day at 6 AM and six PM. A primary site failure at 2 PM allows the crew to repair from the 6 AM backup an RPA of 8 hours.
The recovery factor goal (RPO) is the most ideal amount of statistics loss after an unplanned data-loss incident, expressed as a quantity of time.
A recovery point objective (RPO) is the most appropriate quantity of data loss after an unplanned facts-loss incident, expressed as an amount of time.
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The book the dyslexic advantage appeals to a market of educators, people with dyslexia, their friends, family, and coworkers. this is customer segmentation by __________ factors.
The book the dyslexic advantage appeals to a market of educators, people with dyslexia, their friends, family, and coworkers. this is customer segmentation by psychological factors.
Psychosocial factors are traits or aspects that impact a character psychologically and/or socially. Such factors can describe people in terms of their social environment and the way those have an effect on bodily and mental health.
“Psychosocial” factors such as pressure, hostility, despair, hopelessness, and task control seem associated with physical health—in particular heart sickness. damaging threat profiles in terms of psychosocial elements seem to cluster with a fashionable social drawback.
Purchasers' psychological factors like their emotions, goals, and motivations are critical to consider whilst creating marketing campaigns because such elements pressure customer conduct.
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What is a good practice before taking out a student loan?
A. Calculate the simple interest on the principal of the loan.
OB. Calculate the annual balloon payment to make sure you will be
able to afford it.
C. Calculate the total amount of compounded interest to see if you
are getting a good deal.
O D. Calculate the monthly payment to make sure you will be able to
afford it.
A typical good practice before taking out a student loan are:
calculate the annual balloon payment to make sure you will be able to afford it.calculate the monthly payment to make sure you will be able to afford it.What is a student loan?This is a kind of financial aid in form of money borrowed from the government or a private lender in order to pay for college.
The loan given to the student is expected to be paid back later with the interest that builds up over time and such money gotten are usually used for tuition, room and board, books or other fees.
Hence, the typical good practice before taking out a student loan are calculate the annual balloon payment to make sure you will be able to afford it and the monthly payment to make sure you will be able to afford it.
Therefore, the Option B & D is correct.
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Answer: Calculate the monthly payment to make sure you will be able to afford it
Pharma corp which operating segments are most important to the company in terms of revenue generation?
Sale of products & services: The main source of revenue of Pharmaceutical companies is through the development and sale of drugs or medicines to different
Sales of Products and Services: Pharmaceutical companies' main source of income is the development and distribution of medicines or drugs to various people. revenue service. For a person, generating income means doing things that ultimately lead to generating that person's income, such as working at a job, making an investment, or starting a business.
A Revenue-Generating Activity (RPA) is where revenue is generated from the sale of products and/or services provided by the University or its personnel. Revenue-generating activities can be both internal and external sales and can be processed on-campus or off-campus.
The Revenue Model is the framework for generating financial revenue. Identify the revenue streams you want to track, the value you provide, how you price your value, and who pays for your value. It is an integral part of the company's business model.
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For a particular item the usage is 2000 units per year, the ordering cost is $10. The inventory carrying cost is 20 nd the unit cost is $5. The economic order quantity is?
The inventory carrying cost is 20 and the unit cost is $5 .The economic order quantity is 200 units.
Demand = 2000
Ordering cost = $10
Inventory carrying cost = 20% of 5 = $1
Economic order quantity = sqrt(2DS/H)
= Sqrt(2*2000*10/1)
= Sqrt(40000)
Economic order quantity = 200
Inventory refers to all the items, goods, goods, and materials that a business holds for sale in the market to make a profit. Example: If a newsagent uses a vehicle to deliver newspapers to customers, only the newspapers are considered inventory. A car is treated as an asset.
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You are a project manager going through the conduct procurements process. the solicited prospective sellers’ proposals have a significant price difference. what should you do?
An assignment supervisor for the vendor is informed by using her control that the mission must do whatever possible to be provided incentive cash.
The first step in successful venture procurement management is making a plan. This consists of making plans for the subsequent: What are all the materials and services you may require for the mission? This consists of all specs of the materials and offerings, together with minimal quality necessities.
There are 4 key approaches worried in product procurement control:
making plans for procurement.accomplishing procurement. Controlling procurement. ultimate procurement.Contracting is a critical step for any company for max price advent and stimulating client-dealer collaboration. This step of the procurement system involves assessing crucial factors like pricing shape, the scope of labor, phrases, and situations, timelines of shipping, and so forth.
Conduct Procurements is the process of obtaining seller responses, deciding on a vendor, and awarding a contract. the key advantage of this procedure is that it affords alignment of internal and external stakeholder expectancies thru installed agreements.
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Agile project management involves ____ whereas traditional project management involves _______.
Agile project management involves iterative and incremental delivery whereas traditional project management involves upfront planning with high predictability. Its idea relies on reliable resources and expertise. Same life cycle, which comprises phases like feasibility, planning, designing, building, testing, production, and support, is followed by every project.
Traditional project management strategy is sequential, with each phase of process taking place one after the other. Agile project management prioritizes flexibility, teamwork, and customer collaboration. With each iteration of software development project, this iterative strategy focuses more on incorporating client feedback and continual releases. Perhaps most impressive aspect of Agile is adaptive planning.
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Suppose a bank has checkable deposits of $100,000 and the required reserve ratio is 20 percent. if the bank currently has $100,000 in reserves, it could lend out as much as:______.
Suppose a bank has check able deposits of $100,000 and the required reserve ratio is 20 percent. if the bank currently has $100,000 in reserves, it could lend out as much as $80,000.
A reserve requirement is a rule established by the central bank that specifies the minimal amount of liquid assets that a commercial bank must retain.
The central bank often determines this minimum amount, also known as the commercial bank's reserve, based on a predetermined percentage of the bank's deposit liabilities.
The reserve ratio is a typical name for this rate. Although there are many definitions, the cash held by the commercial bank and physically kept in the bank vault (vault cash) as well as the amount of the bank's balance in that bank's account with the central bank typically make up the commercial bank's reserves.
A bank is free to keep excess reserves—a.k.a. reserves—in reserve amounts above this minimal need.
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Ramesh’s kitchen was a very successful restaurant until it was widely rumored that bugs infested the rice that it serves. Ramesh’s kitchen's popularity has been victimized by a?
Ramesh’s kitchen was a very successful restaurant until it was widely rumored that bugs infested the rice that it serves. Ramesh’s kitchen's popularity has been victimized by a false rumor.
Option E. false rumor.
PR is usually focused on supporting a business from a marketing perspective. PR campaigns focus on generating goodwill for a company and increasing awareness of its products and services. Public relations, on the other hand, is a more political industry, focused on influencing politics.
A victimized is someone who has done something wrong, such as a victim of murder or robbery. Sacrifice means putting someone in a position. Serial killers bully the people they kill. Scammers are cheating people out of their money by bullying them.
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Question: Ramesh’s Kitchen was a very successful restaurant until it was widely rumored that bugs infested the rice that it serves. Ramesh’s Kitchen's popularity has been victimized by a _____.
a.competitive rumor
b.conspiracy rumor
c.reactive rumor
d.contamination rumor
e.false rumor
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What do critics and activists fear most about the concentration of media ownership?
Critics and activists fear most about the concentration of media ownership are that it poses a threat to the culture of the Republic and democracy itself. Media managers and executives respond to the fears by carrying out economic discussions in popular media and educational settings.
Media management – what is it?Identifying and describing strategic and operational phenomena and issues in the management of media firms is the focus of the business administration discipline known as media management. Strategic management, procurement management, production management, organizational management, and marketing are all included in media management.
There is currently no accepted meaning for the phrase "media management," and the field is neither well-defined nor cohesive in its current state.
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There are two ratios which are used to measure airline performance. one measures efficiency while the other measures equipment utilization. Define both?
Operating ratio-measures the portion of operating revenue that goes to operating expenses, only revenue and expenses generated from passenger and freight transportation are considered
(operating expenses/operating revenue)*100
load factor-measures the percentage of a plane's capacity that is utilized,
(number of passengers/total number of seats)*100
All pilots should be interested in weight and balance control. The two changeable factors that can alter an aircraft's total weight and CG location are loading and fuel management, both of which are under the control of the pilot.
The owner or operator of the aircraft should guarantee that the pilots have access to current information and that the proper entries are made in the records when repairs or modifications are completed. The CG is altered as a result of equipment removal or addition.
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When net income is the same under variable and absorption costing, ______ during the year.
When sales are less than production during the year.
What is Variable costing?In management and cost accounting, the notion of variable costing refers to the exclusion of fixed manufacturing overhead from the product cost of production. The approach stands in contrast to absorption costing, which allocates the fixed production costs to the output of products. Variable costing is not allowed to be utilized in financial reporting under accounting standards like IFRS and GAAP.
Financial Reporting with Variable Costs
Although the use of variable costing in financial reporting is prohibited by accounting standards like GAAP and IFRS, managers frequently utilize this costing strategy to:
Perform a break-even analysis to ascertain the number of units that must be sold in order to start making a profit.Find the product's contribution margin to better comprehend the connection between cost, volume, and profit.Eliminate fixed manufacturing overhead expenses, which can be problematic because of how fixed costs are distributed across each product, to make decision-making easier. What is Absorption Costing?A managerial accounting technique known as "absorption costing," sometimes known as "full costing," is used to record all expenses related to producing a certain product. This strategy accounts for both direct and indirect expenses, including direct supplies, direct labor, rent, and insurance.
According to generally accepted accounting standards (GAAP), absorption costs are necessary for external reporting.
Therefore, When net income is the same under variable and absorption costing, sales are less than production during the year.
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When using horizontal differentiation, a firm divides itself into subunits based on function, type of business, or.
When using horizontal differentiation, a firm divides itself into sub units based on function, type of business, or Geographic area
Horizontal differentiation
Is basically concerned with how the firm decides to divide itself into sub units. The decision is typically made on the basis of function, type of business, or geographical area. In many firms, just one of these criteria predominates, but more complex solutions are adopted in others. This is particularly likely in the case of international firms, where the conflicting demands to organize the company around different products (to realize location and experience curve economies) and different national markets (to remain locally responsive) must be reconciled. One solution to this dilemma is to adopt a matrix structure that divides the organization on the basis of both products and national markets.
Functional structure :
A functional structure can work well for a firm that is active in a single line of business and focuses on a single geographic area. But problems can develop once the firm expands into different businesses or geographies.
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_____ is a non-personal form of communication that appears in the media and is not paid for directly by the organization.
Publicity is a non-personal form of communication that appears in the media and is not paid for directly by the organization.
The conversation is "an obvious solution to the painful divisions among self and different, private and public, and internal thought and outer global."
Verbal exchange is the act of giving, receiving, and sharing records -- in different phrases, speaking or writing, and listening or studying. suitable communicators listen carefully, talk or write surely, and respect extraordinary opinions.
In our each day lifestyles, the verbal exchange allows us build relationships through permitting us to percentage our reviews, and wishes, and facilitates us hook up with others. It is the essence of existence, permitting us to explicit feelings, pass on facts, and proportion minds. We all need to communicate.
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The capm predicts that the difference in return between stock a and stock b should be due only to the difference in the ______ of the two stocks. multiple choice question.
The capm predicts that the difference in return between stock a and stock b should be due only to the difference in the beta of the two stocks.
What is beta?The volatility of a stock in proportion to the market as a whole is measured by its beta. The S&P 500 Index, for example, has a beta of 1.0 by definition, and individual companies are graded according to how much they depart from the market.A stock with a beta above 1.0 fluctuates more than the market over time. A stock's beta is less than 1.0 if it moves less than the market.Low-beta stocks carry less risk but have lower potential returns while high-beta stocks are considered to carry greater risk but have larger potential returns.
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If a community has a public vegetable garden at the city park with a take-as-you-wish policy, the veggies would be considered:______.
If a community has a public vegetable garden at the city park with a take-as-you-wish policy, the veggies would be considered free goods.
What do you mean by vegetable garden?In contrast to a flower garden, which is there for aesthetic reasons, a vegetable garden is there to grow vegetables and other plants that may be consumed by humans. It is also referred to as a vegetable patch or vegetable plot.
You can consume more fresh fruits and veggies thanks to it. You control the kind of pesticides and fertilizers that reach your food. You have the ability to decide when to gather your food. In comparison to some store-bought veggies that need to be picked early, vegetables that ripen in the garden have more nutrients.
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When independent stock transfer agents are not employed and the corporation issues its own stock and maintains stock records, canceled stock certificates should:_______
When independent stock transfer agents are not employed, the canceled stock certificates should be defaced to prevent reissuance and attached to their corresponding stubs.
A transfer agent plays a vital role in acting as a liaison between a company's registrar and an investor. A stock transfer agent makes sure that shareholders receive dividend payments in a timely manner. These agents send stock shares to investors after a stock split.
When a company cancels its common stock, it declares all existing common stock certificates to be null and void. Most often, companies cancel stock while going through bankruptcy proceedings.
Hence, the canceled stock certificates should be defaced in order to prevent reissuance.
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If the current dividend (d0) is $3. 00 and the growth rate is 6%. how much will the dividend be at time 5?
Dividend at time 5 will be= $4.501.
dividend at time 5 = d0 *(1+growth rate)^5
= $3.00 *(1+0.06)^5
= $4.501.
Growth rates are the changes in a particular variable's percentage over a given period of time. Increase rates, for investors, often represent the compounded yearly rate of growth of a company's revenues, earnings, dividends, or even macro terms, such as gross domestic product (GDP) and retail sales.
Use the basic growth rate formula to determine the percentage growth rate by deducting the original value from the new value and dividing the results by the original value. Multiplying the results by 100 time will convert that to an increase in percentage.
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