The budget at completion (BAC) is the sum of all budgets established for the work to be performed on a project. as such it is equivalent to the total plan of the project.
The budget at completion (BAC) is "the amount of all spending plans set up for the work to be performed." It is otherwise called the complete arranged worth.
The BAC is contrasted with the gauge at consummation (EAC) to check whether the task is following admirably against the financial plan. budget at completion (BAC) is an action that is frequently utilized in acquired worth administration to follow the real expense of a task against its gauge financial plan. It is determined toward the beginning of a task-dependent on the venture work and its individual segments ".
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Nipigon manufacturing has a cost of debt of 9 %, a cost of equity of 11%, and a cost of preferred stock of 10%. nipigon currently has 120,000 shares of common stock outstanding at a market price of $25 per share. there are 49,000 shares of preferred stock outstanding at a market price of $38 a share. the bond issue has a face value of $950,000 and a market quote of 106. the company’s tax rate is 40%. required: calculate the weighted average cost of capital for nipigon.
the weighted average cost of capital for Nipigon is 0.049716
Calculate the weighted average cost of capital for Nipigon
cost of Equity share= 120,000 x $25= $30,00,000
cost of Preference share= 49,000 x $38= $18,62,000
cost of debt= $9,50,000
Total cost = $30,00,000 + $18,62,000 + $9,50,000
= $58,12,000
Weightage
Equity= $30,00,000/$58,12,000= 0.516
Preference= $18,62,000/$58,12,000= 0.320
Debt= $9,50,000/$58,12,000= 0.164
Rates
Equity = 0.11
Preference= 0.10
Debt= 0.09 (1-0.4)= 0.54
weighted average cost
Equity= 0.516 x 0.11 = 0.05676
preference= 0.320 x 0.10= 0.0320
Debt= 0.164 x 0.54= 0.00886
Total weighted average cost= 0.05676+0.0320+0.00886
=0.049716
What is the weighted average cost method?
A weighted average computation accounts for the varying levels of significance of the numbers in a data collection. A specified weight is multiplied by each value in the data set before the final computation is completed when calculating a weighted average.
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The Mahoney Company has two producing departments: assembly and finishing. The company has been using a plantwide predetermined overhead rate based on direct labor hours. The following estimates were made for the current year: If Mahoney uses a plantwide predetermined overhead based on direct labor hours, what would be the predetermined overhead rate for the current year
If Mahoney uses a plantwide predetermined overhead based on direct labor hours, what would be the predetermined overhead rate for the current year is: $4 per Direct Labor Hour.
Predetermined overhead rateUsing this formula
Predetermined overhead rate=Manufacturing Overhead/Direct labor hours
Let plug in the formula
Predetermined overhead rate = $300,000/75,000
Predetermined overhead rate = $4 per DLH
Therefore If Mahoney uses a plantwide predetermined overhead based on direct labor hours, what would be the predetermined overhead rate for the current year is: $4 per Direct Labor Hour.
The complete question is:
The Mahoney Company has two producing departments: assembly and finishing. The company has been using a plantwide predetermined overhead rate based on direct labor hours. The following estimates were made for the current year:
Assembly
Finishing
Total
Manufacturing Overhead
$200,000
$100,000
$300,000
Direct labor hours
40,000
35,000
75,000
Machine hours
5,000
16,000
21,000
Mahoney started and completed Job 1512 during the year. The job-order cost sheet indicated the following:
Materials Requisitioned$18,000
Direct labor cost16,000
Direct labor hours:
Assembly1,700 Hours
Finishing1,300 Hours
Machine Hours
Assembly1,000 Hours
Finishing700 Hours
A total of 2,000 units were produced on Job 1512.
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An architectural firm fired an architect after she was injured in a fall and filed a workers’ compensation claim. this is an example of a ________ and is illegal.
An architectural firm fired an architect after she was injured in a fall and filed a workers’ compensation claim. this is an example of a retaliatory discharge and is illegal.
Retaliatory Discharge is a type of unlawful termination that involves taking revenge or retaliating against an employee for doing anything that is unrelated to their performance at work. This can take the form of actions like making a workers' compensation claim or asking for the legally needed payment.
punishment imposed by an employer on a worker for partaking in legally protected behavior, such as filing a harassment claim or helping with an inquiry at work. Any adverse work action, such as a demotion, warning, dismissal, wage reduction, or job or shift change, might be considered retaliation.
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What are the 5 principles ron blue suggests that you follow to choose a successful financial advisor?
The 5 principles Ron Blue suggests that you follow to choose a successful financial advisor
Knowing how the advisor is compensatedKnowing the advisor's professional competenciesDo they practice what they preachWill they give you character or client referencesKnow the advisor's worldviewWho is a Financial Advisor?A professional who offers financial services to clients depending on their financial circumstances is known as a financial adviser or advisor.Financial advisors must undergo particular training and register with a regulating agency in several nations in order to provide advice. A financial adviser must pass the Series 7 and Series 66 or Series 65 qualifying exams in order to practice in the United States.Qualification designations and compliance concerns must be recorded for public view, according to the U.S. Financial Industry Regulatory Authority (FINRA). Brokers, investment advisers, private bankers, accountants, attorneys, insurance agents, and financial planners are among the professions listed by FINRA as being permitted to use the phrase "financial advisor."To know more about financial advisor with the given link
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Heightened concern with fitness might be a threat to some companies and an opportunity to others. In the SWOT framework, these are ________ environmental factors.
The growing interest in fitness could be a threat for some companies and an opportunity for others. In the SWOT framework, these are external environmental factors.
The external environment, also known as the macro environment, is beyond the control of any single organization. Factors such as competition, market, economy, demographics, and environmental factors all influence an organization's external environment.
Customers, competition, economics, technology, political and social conditions, and resources are common external factors that affect an organization.
External environmental factors include economics, technological change, regulation, competition, and socio-economic factors. Multiple areas within an organization influence HR activities such as top management, organizational strategy, culture, technology, structure, and size.
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Btr warehousing issues 10-year, aa-rated bonds. what is the yield on one of these bonds? disregard cross-product terms; that is, if averaging is required, use the arithmetic average
Nominal interest rates can be calculated as follows:
r=r∗+IP+MRP+LP+DRP
The interest rate before accounting for inflation is referred to as the nominal interest rate. The term "nominal" can also apply to the advertised or quoted interest rate on a loan, which excludes any fees or interest compounding.
Real and effective interest rates are not the same as nominal interest rates. While effective rates are crucial for borrowers as well as investors and lenders, real interest rates are typically significant for investors and lenders.
Despite being the declared rate connected with a loan, the nominal rate is frequently not the rate that the consumer pays. Instead, a variable effective rate that takes into account fees and the effects of compounding is paid by the consumer. As a result, annual percentage yield (APY) and annual percentage rate (APR) differ from the nominal rate in that the former accounts for fees and the latter for compounding.
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When the expected inflation rate ________, the short-run phillips curve ________.
When the expected inflation rate increases, the short-run phillips curve shifts upward.
The short-run phillips curve is drawn for the given expected rate of inflation. When there is an increase in the expected inflation, the short-run Phillips Curve shifts upward.
The Phillips curve states that there is an inverse relationship between unemployment and inflation in the short run, but not in the long run. The economy always operates on the short-run Phillips curve.
It is because the SRPC represents different combinations of inflation and unemployment.
The long-run Phillips curve is vertical in nature at the natural rate of unemployment. Shifts of the long-run Phillips curve occur only if there is a change in the natural rate of unemployment.
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A process used to develop knowledge that allows an organization to understand the actions and intentions of threat actors and develop methods to prevent or mitigate cyberattacks is known as?
A process used to develop knowledge that allows an organization to understand the actions and intentions of threat actors and develop methods to prevent or mitigate cyberattacks is known as threat intelligence.
Information on threats intelligence that has been compiled, altered, examined, evaluated, or enriched to offer the appropriate context for decision-making processes. Threat intelligence provides in-depth information about attack-related URLs, domain names, files, and IP addresses. An organization can respond to security incidents and guard against current assaults using the information.
Cyber threat intelligence is knowledge, skill, and experience-based information about the occurrence and assessment of both cyber and physical threats and threat actors, with the goal of assisting in the mitigation of prospective assaults and damaging cyberspace occurrences.
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Lance's taxable income last year was $65,350. According to the tax table
below, how much tax does he have to pay if he files with the "Single" status?
The amount of tax that Lance is going to have to pay under the single status is going to be $12,531
What is the single status tax system?This is the status that is used by the people that are not married. In this system of filing taxes, the way that it is done is that the single filers would have to use the single status for the internal revenue service.
We have to multiply the income that is taxable from last year by 19.17%
= $65,350 * 19.17%
= $12531
Hence the amount that has to be taxed is going to be 12531
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Suppose the economy is at full employment, and energy prices spike. in the short run, output will _____; in the long run, output will _____.
Suppose the economy is at full employment, and energy prices spike. in the short run, output will increase in the long run, output will remain unchanged.
When there is full employment, neither cyclical nor deficient-demand unemployment exists. Due to the possibility of structural and frictional unemployment still existing, full employment does not mean that all unemployment has been eliminated.
An economic scenario known as full employment occurs when all of the labor resources are being utilized as effectively as feasible. The term "full employment" refers to the maximum possible level of both skilled and unskilled workers in a given economy.
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When goods are sold under the perpetual inventory system, the cost of the good sold is transferred from the ______ account.
When goods are sold under the perpetual inventory system, the cost of the good sold is transferred from the: inventory account to the cost of goods sold account.
Inventory account is the body of accounting that deals with valuing and accounting for changes in inventoried assets.
A company's inventory typically involves goods in three stages of production: raw goods, in-progress goods, and finished goods that are ready for sale. Inventory accounting will assign values to the items in each of these three processes and record them as company assets. Assets are goods that will likely be of future value to the company, so they need to be accurately valued in order for the company to have a precise valuation.
The cost of goods sold, commonly referred to as COGS, is a fundamental income statement account, but a company using a periodic inventory system will not know the amount for its accounting records until the physical count is completed.
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Assume that you plan to buy a condo 5 years from now, and you estimate that you can save $2,500 per year. You plan to deposit the money in a bank account that pays 4% interest, and you will make the first deposit at the end of the year. How much will you have after 5 years
Based on the fact that you will deposit $2,500 per year to buy the condo, the amount that you will have in 5 years is $13,540.81
How much will the amount grow to in 5 years?The fact that the amount is a specific amount every year makes it an annuity.
The value in 5 years will the be the future value of that annuity which can be found as:
= Annuity x ( ( 1 + rate) ^ number of years) - 1) / rate
= 2,500 x ( (1 + 4%)⁵ - 1) / 4%
= $13,540.81
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Tight monetary policy theory dictates that when the economy is faced with inflation, the government should:______
Tight monetary policy theory dictates that when the economy is faced with inflation, the government should increase interest rates.
When a central bank attempts to keep inflation under control, tight monetary policy, also known as contractionary monetary policy, usually takes place. The economy may become overheated as a result of excessive consumer and business borrowing and spending, which might significantly increase the cost of products and services.
The tight monetary policy suggests the Central Bank (or monetary policy authority) is attempting to slow down the demand for money and slow the rate of economic expansion. This typically entails rising interest rates. Usually, the goal of tight monetary policy is to lower inflation. For instance, cutting back on money printing or selling long-term government bonds to the banking industry. The antithesis of quantitative easing would be this.
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When examining the cost curves for a firm, the minimum average variable cost occurs at the output level where:_____.
When examining the cost curves for a firm, the minimum average variable cost occurs at the output level where Zero point level.
The "zero profit point" is the location where the marginal cost curve crosses the average cost curve, at the minimum of the average cost curve. A completely competitive firm should close its doors if its market price is less than its average variable cost at the profit-maximizing output level.
A totally competitive corporation is unable to control the price it charges because it must accept the price for its output that is established by the supply and demand for the product in the market.
Since the profit calculation already accounts for this, the perfectly competitive firm can provide any quantity of units at the same price.
It suggests that the company's product has a completely elastic demand curve, meaning that customers are eager to purchase any quantity of the company's output at the going rate.
The quantity that the perfectly competitive firm decides to produce will define its total revenue, total costs, and eventual level of profits along with the prices that are currently in effect on the market for inputs and output.
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the period over which improvements to real estate contribute to property value"" is the definition of _____________ life
"The period over which improvement to real estate contributes to property value" is the definition of Economic life.
Economic life is the expected time period for the duration of which an asset stays beneficial to the average owner. whilst an asset is no longer useful to its owner, then it's miles said to be beyond its economic life. The economic life of an asset may be unique to its actual physical life.
The formal definition of deferred maintenance is: "items of damage and tear on assets that should be fixed now to shield the fee or income-producing ability of the assets, which includes a broken window, a useless tree, a leak in the roof, or a faulty roof that need to be absolutely replaced.
Real estate can exhibit functional obsolescence if its layout functions are outdated, no longer useful, or not aligned with marketplace tastes and standards, including whilst a vintage house is located inside a community of the latest houses.
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A(n) ________ is an internet business model that provides an initial point of entry to the web along with specialized content and other services
Answer:
Portal
found this answer on a site that helps me
What is the rate of return on a bond with a coupon of $38 payable in one year that was purchased for $950 and sold one year later for $931?
2% is the rate of return on a bond with a coupon of $38 payable in one year that was purchased for $950 and sold one year later for $931.
How do bonds make you money?
Bonds can be profitable for investors in two different ways. Direct bond purchases are made by private investors with the intention of holding them till maturity and profiting from the income they accrue. Additionally, they could invest in a bond mutual fund or bond ETF (ETF). The interest plus appreciation divided by the initial bond price, stated as a percentage, is used to calculate the rate of return.
What is rate of return on a bond?
If you've owned a bond for a long time, you may wish to figure out its annual percent return, which is the percent return divided by the number of years you've owned the investment. For instance, the return on a $1,000 bond kept for three years with a $145 return is 14.5 percent, yet the yearly return is only 4.83 percent.
How do you calculate the average return on a bond?
The interest plus appreciation divided by the initial bond price, stated as a percentage, is used to calculate the rate of return.
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Lead firms sometimes create contradictory demands on suppliers, for example, by insisting on low costs as well as compliance with expensive environmental standards.
a. true
b. false
Lead firms sometimes create contradictory demands on suppliers, for example, by insisting on low costs as well as compliance with expensive environmental standards this statement is false.
What are Lead firms?For this study, lead firms are small, medium, or large businesses that have direct or indirect business connections with a sizable number of MSMEs. Buyers, traders, input suppliers, veterinarians, exporters, and processors are a few examples of lead businesses.What are environmental standards?Governments often impose environmental regulations, which may include banning particular activities, demanding regular monitoring, obtaining permits for using land or water, and more. Depending on the type of environmental action, different standards apply.Learn more about Lead firms here:
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When the medicare program does not have primary responsibility for paying a beneficiary’s medical expenses, the medicare __________ concept applies.
When the medicare program does not have primary responsibility for paying a beneficiary’s medical expenses, the medicare (D) secondary payer concept applies.
What is the secondary payer concept?When the Medicare program does not have a primary payment obligation - that is, when another entity pays before Medicare - the phrase "Medicare Secondary Payer" (MSP) is commonly used.A secondary payer is defined as a plan, insurance policy, or program that pays second on a medical care claim and only to the degree that payment has not been made. Depending on the circumstances, a secondary payer could be Medicare, Medicaid, or another type of insurance. When a person has a GHP through their own or a spouse's job and the employer has more than 20 employees, Medicare may be the secondary payer.Therefore, when the medicare program does not have primary responsibility for paying a beneficiary’s medical expenses, the medicare (D) secondary payer concept applies.
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The question you are looking for is given here:
When the medicare program does not have primary responsibility for paying a beneficiary’s medical expenses, the medicare __________ concept applies.
a) limiting charge
b) conversion factor
c) balance billing
d) secondary payer
Policies related to setting interest rates, control of currency supply, and the buying/selling of treasury bonds are referred collectively as _____.
Policies related to setting interest rates, management of money supply, and the buying/selling of treasury bonds are referred collectively as Monetary policy
Monetary policy is primarily involved with the management of interest rates and the total pool of money in circulation and is generally taken out by central banks, such as the U.S. Federal Reserve.
What is monetary policy and fiscal policy?
Monetary policy refers to central bank activities that are headed toward influencing the amount of money and credit in an economy. By contrast, fiscal policy guides to the government's decisions about tax and spending. Both monetary and fiscal policies are used to control economic activity over time
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Suppose americans decide to save more of their incomes. If banks lend this extra saving to businesses, which use the funds to build new factories, this leads to?
There is a trade-off when individuals save their money, so society is not receiving a free giveaway. The economy benefits from consumers delaying their current wants and saving for the future.This is further explained below.
What is does saving lead to?Generally, People's savings are tapped into by banks. In turn, banks provide money to businesses, which then build new factories to increase output. As production capacity increases, so does per capita output, resulting in a quicker rate of product development.
In conclusion, Workers, business owners, and families all get the rewards of greater production.
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Fund xyz had a pretax return of 10. 2 percent and a tax-adjusted return of 9. 5 percent. calculate fund xyz's tax cost ratio.
Fund XYZ had a pretax return of 10. 2 percent and a tax-adjusted return of 9. 5 percent
Fund XYZ's tax cost ratio:
Tax Cost Ratio = [1 {(1 + 0.095)/(1 + 0.102)}](100) = [1 0.99365](100) = 0.635
The return on an investment that excludes the taxes that the investor must pay on this return is known as the pretax return. The pretax rate of return is the metric most frequently used for investments in the financial industry because tax conditions vary by individual and different investments are taxed at different rates.
In contrast to the after-tax rate of return, the pretax rate of return does not account for capital gains or dividend taxes. An after-tax return can be compared to the pretax return.
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The country whose government is more heavily involved in the economy through economic functions of government as opposed to political functions is:________
A country whose government is more heavily involved in the economy through economic functions of government as opposed to political functions is a command economy.
What is a command economy?A command economy is one in which the government is more heavily involved in the economy through economic functions.A planned economy (command economy) is a form of economic system in which investment, production, and capital goods allocation follow economy-wide economic and production plans. Economic planning in a planned economy might be centralized, decentralized, participative, or Soviet-style.A command economy, on the other hand, is organized by a centralized government that owns most, if not all, firms and directs all factors of production. Command economies can be seen in East Germany, North Korea, and the former Soviet Union.Therefore, a country whose government is more heavily involved in the economy through economic functions of government as opposed to political functions is a command economy.
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Write a letter to your local governmental representative highlighting the impact that the united states’ trade policy and global relations can have on global logistics and transportation strategies.
January 17, 2021
The Honorable Mr. Jackson
761, Karol Bagh, Delhi,
Sacramento, CA
RE: The impact that the united states trade policy and global relations can have on global logistics and transportation strategies.
Dear Assembly Member Jackson
My name is David Stuart and I am a regional center consumer, who resides in your district.
Worldwide trade has dramatically increased since World War II, and an international trading system based on the idea of open economies has been developed. Despite being less dependent on trade than practically every other developed nation, the United States has been at the forefront of these shifts.
Since the end of World War II, international trade policy institutions have undergone a significant evolution, largely thanks to the United States and its European allies. 23 nations ratified the General Agreement on Tariffs and Trade (GATT) in October 1947. GATT's membership had grown to 123 nations by 1986, all of which had agreed to uphold the values of lower tariffs, open economies, and freer trade. Global import tariffs on goods dropped significantly during those four decades, from an average of about 30% to under 5%.
The effects of trade agreements on employment, inequality, national sovereignty, and safety standards have drawn the attention of eminent economists, labor advocates, and consumer rights organizations. The implications of globalization are also causing a great deal of public concern: According to Pew Research Center polling, Americans' trust in trade has increased as the economy has recovered since the early 2000s, despite a substantial decline in their conviction in the advantages of globalization.
Critics have also expressed concern about the accords' effects on national sovereignty as well as the process's openness. Particularly, the Investor-State Dispute Settlement (ISDS) mechanism provision sparked concerns that foreign corporations would have the power to veto local government decisions. Supporters assert that the ISDS is identical to comparable provisions found in earlier trade agreements, such as NAFTA, even though such provisions have also garnered criticism.
More trade was discovered to be a result of faster export timeframes and cheaper importing costs. Countries with ineffective logistics incur high expenses in time and money for international trade and global supply chains, which negatively impacts nations and businesses and lowers turnover. The United States has the biggest economy in the world, as well as the biggest export and import of commodities and services. America's prosperity depends on trade because it boosts the economy, supports domestic job development, raises living standards, and enables people to sustain their families with reasonably priced goods and services. Activities connected to the transnational exchange of products and services to meet demands are included in international trade and international logistics. Acquisition, development, and management of human, financial, and physical resources are some of these activities.
Sincerely,
David Stuart
XYZ Lens, Nehru Nagar
Delhi
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cultural and behavioural expectations of studying for a degree in business management
The Cultural and behavioral expectations of studying for a degree in business management is to be able to know the relationship and behaviors of employees, managers and customers.
What is cultural behavior in business?The cultural behavior in business helps to be familiar with the employees, managers and customers and the relationship between them as regards the culture of the business.
This help to know the team's behavior, as well as setting them up to to record success in workplace.
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What benefits would businesses gain if they worked with each other like they were a monopoly?
Benefits would businesses gain if they worked with each other like they were a monopoly are:
⇒Economies of scale- lower average costs from increased scale
⇒High profit can be used for research and development - dynamic efficiency
⇒The reward of getting patent (a monopoly power) can encourage investment
⇒Firms who become monopolies may just be very efficient, successful and innovative.
⇒Governments can regulate to get best of both worlds - economies of scale and fair prices.
Monopolies are firms who dominate the market. Either a pure monopoly with 100% market share or a firm with monopoly power (more than 25%) A monopoly tends to set higher prices than a competitive market leading to lower consumer surplus.
However, on the other hand, monopolies can benefit from economies of scale leading to lower average costs, which can, in theory, be passed on to consumers.
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If an employee has agreed to a workers' compensation scheme, she may not file a lawsuit against her employer for negligence because workers' compensation is the:__________.
If an employee has agreed to a workers' compensation scheme, she may not file a lawsuit against her employer for negligence because workers' compensation is the exclusive remedy.
A workers' compensation clause known as an exclusive remedy forbids injured workers from suing their employer while they are collecting payments from workers' compensation.
Employees hurt on the job are prohibited from suing their employers in tort under a provision known as an exclusive remedy that is found in workers' compensation laws. Injured employees' only option for redress is the amount offered under workers' compensation.
State-by-state variations on exceptions to this law do give the employee a place to seek legal redress. Such deviations include two different types: the failure to get and maintain insurance and the employer's deliberate negligence.
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Answer:
If an employee has agreed to a workers' compensation scheme, she may not file a lawsuit against her employer for negligence because workers' compensation is the exclusive remedy.
Explanation:
Assuming john's parents do not allow him to use any savings. What is the optimal consumption bundle of pizza and funnel cakes? Explain.
The optimal quantity of pizza slices for John to buy is 5 slices.
How to calculate the quantity?From the information given in the diagram, it can be seen that the marginal utility from the consumption of the 6th slice is zero.
In this case, the optimal quantity of pizza slices for John to buy is 5 slices.
When John buys 8 slices, the total utility will be:
= 20 + 12 + 10 + 6 + 2 + 0 - 2 - 6
= 42 utils.
When John’s parents do not allow him to use any savings, his optimal consumption bundle of pizza and funnel cakes is $20.
At John’s optimal consumption bundle, the total utility that he will gain will be:
= (20 + 12) + (50 + 40 + 32 + 20)
= 32 + 142
= 174 utils
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In digital markets: network costs decline. information asymmetry increases. switching costs decline. menu costs decline. search costs increase.
In digital markets menu costs decline.
Digital marketing is also called online marketing which uses the internet and other online based digital technologies such as desktop, mobile phones and other digital media platforms in order to promote their products and services to a wider community.
In digital marketing, menu costs are a type of transaction cost which are incurred by firms when they change their prices. Most firms change their prices infrequently because of the costs of changing those prices. In digital markets menu costs usually decline.
For instance, in a restaurant that has to physically print new menus when it changes the prices of its dishes.
Hence, in digital markets menu costs decline.
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Lois is considering buying a new bicycle for $200. it has a 20hance of breaking down in the next year. what is the expected value in terms of repair cost for this purchase?
The expected value in terms of repair cost for this purchase is $40.
Repair cost manner fees and expenses are fairly essential or acceptable due to normal wear and tear, periodic replacement, vandalism, damage, or destruction of any part of the ability property, and shall now not encompass operating fees.
First, bring together the entire listing of substances wished, and report a high and occasional price estimate for each. as soon as it really is carried out, add each column of numbers to get the whole cost for each high and coffee. Then upload the two totals, after which divide with the aid of to get the common price.
Repair cost and substitute mean all non-routine, non-repetitive activities, repairs or substitutes of systems, equipment, or device required for continuity of operations, safety, and running overall performance this is vital to prevent or correct a failure of the Pelletier Facility and which aren't protected as a component.
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