general business data bank general business data bank Question 1. __________ is the code of moral principles and values that govern the behaviors of a person or group with respect to what is right or wrong. 2. When values and standards are written into the legal system, it is referred to as ______. 3. A(n) ________ arises in a situation when each alternative choice or behavior is undesirable because of potentially harmful ethical consequences. 4. The ________ is an individual responsible for making an ethical choice. 5. The ethical concept that moral behaviors produce the greatest good for the greatest number is referred to as ________ approach. 6. The _________ approach contends that acts are moral when they promote the individual's best long-term interests. 7. The _________ approach asserts that human beings have fundamental rights and liberties that cannot be taken away by an individual's decision. 8. The ________ approach holds that moral decisions must be based on standards of equity, fairness, and impartiality. 9. __________ justice requires that different treatment of people not be based on arbitrary characteristics. 10. ________ justice requires that rules should be clearly stated and consistently and impartially enforced. 11. ________ justice argues that individuals should be compensated for the cost of their injuries by the party responsible. 12. At the _________ level of personal moral development, individuals are most concerned with external rewards and punishments. 13. People learn to conform to the expectations of good behavior that are set by peers and society at the _________ level. 14. Individuals at the __________ level are guided by an internal set of values and standards and will even disobey rules or laws that violate these principles. 15. Most managers operate at the _________ level.
His147 quiz 7 His147 quiz 7 Question Question 1(2 points) The ruins in Casa Grande were the first federally protected prehistoric site in the country.Question 1 options:TrueFalseSaveQuestion 2(2 points) Living in a "tent city" was the only option for Tuberculosis sufferers.Question 2 options:TrueFalseSaveQuestion 3(2 points) Native Americans like the Hopis and Smokis benefited economically from increased tourism by selling authentic crafts.Question 3 options:TrueFalseSaveQuestion 4(2 points) In 1869 the first expedition down the Colorado River took place.Question 4 options:TrueFalseSaveQuestion 5(2 points) Throughout the 1920's, Tucson attracted more tourists than Phoenix because it had a larger Hispanic community and better resorts.Question 5 options:TrueFalseSaveQuestion 6(2 points) Entrepreneur Ralph Cameron was one of a very few small business owners to successfully fight against partnerships between big business interests and the federal government.Question 6 options:TrueFalseSaveQuestion 7(2 points) Anthropologists were attracted to Arizona because of ancient ruins and access to Native American populations.Question 7 options:TrueFalseSaveQuestion 8(2 points) Prior to 1920, Arizona "tourists" were are wealthy or destitute.Question 8 options:TrueFalseSaveQuestion 9(2 points) A large veterans hospital was constructed south of Tucson immediately after World War Ii.Question 9 options:TrueFalseSaveQuestion 10(2 points) Due to its isolation, the federal government did not show much interest in Arizona between 1890 -1930.Question 10 options:TrueFalse
general business data bank general business data bank Question 1. How is attachment formation in infancy related to friendship formation? 2. Which of the following happens to a rejected child in the process of social skill development? 3. In middle childhood, children are aware of social norms for peer acceptance. This results in greater pressures toward 4. Why are "best friend" relationships important in middle childhood? . 5. What is the difference between peer acceptance and having a “best friend” relationship? 6. Which of the following increases a child’s sense of loneliness? 7. Which of the following is a characteristic of withdrawn children who have strong feelings of loneliness? 8. What is a common characteristic of children who are victims of bullying? . . 9. Through ___________, children begin to appreciate the logic, order, and predictability of the physical world. 10. According to Piaget's Theory, an action or transformation that is carried out in thought rather than in action is called 11. When a child understands that physical matter does not change in quantity despite changes in form or container, she should be able to do which of the following types of problems? 12. The ability to group objects according to some dimension they share is called . 13. The ability to order subgroups in a hierarchy is an ability related to 14. Metacognition includes 15. One of the most critical intellectual skills that is developed and elaborated during middle childhood is 16. Why are skills the basis of intellectual competence? 17. How might the cultural context influence a child’s ability to read? 18. Self-evaluation takes place in two contexts. What are they?
Question_File6_9Dec_4th Question_File6_9Dec_4th Question 91. Refer to Case 7.3. Gena’s performance improvement process emphasizes whichcharacteristic or strategy of an effective manager?a) Identifying the problem.b) Exploring the problem.c) Directing attention to the problem.d) Empowering the employee to deal with the problem.e) Directing communication to the problem and not the person.27127292. Refer to Case 7.3. How does Gena’s method of giving feedback compare to thesuggestions offered in the Manager’s Notebook for giving constructive feedback?a) Gena is effective and follows all the guidelines.b) Gena is probably not giving employees sufficient time to vent their feelings.c) Gena seems to be spending too much time trying to reason the employeesinto seeing her perspective.d) Gena probably communicates acceptance but shouldn’t use the “trait-type”terms.e) Gena doesn’t seem to offer suggestions for improvement.Case 7.4Sigerstad, Inc. is preparing for a large-scale performance evaluation of workers in alldepartments. You are a member of the HR department and have been asked to join acommittee that will be developing the criteria. The company is very team-centered andyou need to develop appraisal criteria with teams in mind. Management has also askedthe team to prepare a training session for line managers on how to provide appraisalfeedback to employees, as well as how to perform appraisal interviews.93. Refer to Case 7.4. The committee begins by discussing how the foci of theappraisals should be directed. Which of the following would you suggest as thebest direction for the appraisals?a) Only team performance should be evaluated, since team outcomes are thebasis for the firm’s success or failure.b) Only individual performance should be evaluated, since each individual’sperformance plays a factor in the team’s success.c) Both individual performance and team performance should be evaluated.d) Individual performance should be the sole measure of performance forSigerstad’s manufacturing teams.e) Team performance should be the sole measure of performance for Sigerstad’smanufacturing teams.94. Refer to Case 7.4. Mary Anne suggests that team members’ individualperformance be based upon outcome measures. You respond that:a) outcome measures should have no place in measuring performance.b) using behavioral measures would be a better choice, since they are easier toobserve.273c) using outcome measures would certainly be the best choice for measuringindividual performance.d) quantity measures should be used when determining individual performance.e) individual performance should not be measured among team members.95. Refer to Case 7.4. Dwayne suggests that team performance be based on outcomemeasures. You respond that:a) outcome measures should have no place in measuring team-relatedperformance.b) using behavioral measures would be a better choice, since they are easier toobserve.c) using outcome measures would certainly be the best choice for measuringindividual team members’ performance.d) measuring the traits that team members exhibit would be a better choice.e) it would be just as effective to simply measure each individual member’soutcome performance.96. Refer to Case 7.4. If team members reviewed one another, this would be anexample of:a) self-review.b) subordinate review.c) peer review.d) bribery.e) hypocrisy.97. Refer to Case 7.4. In order for feedback to produce worker improvement, yousuggest emphasizing which of the following to managers who will performappraisal interviews?a) Directing communication at the worker’s performance rather than at theworker.274b) Developing an action plan and empowering employees to reach a solution inimproving performance.c) Exploring the causes of performance problems.d) Directing attention to causes of performance problems.e) All of the aboveTRUE/FALSE QUESTIONS98. To determine which measurement element to use in performance appraisal, amanager needs to examine the areas of work performed by the employee.27599. The performance appraisal system should both praise or criticize past behavior, andfocus on the future in terms of how workers will achieve their potential in theorganization.100. An advantage of absolute judgment appraisal formats over relative judgmentformats is that the absolute format permits comparison ratings of individualworkers in different work groups by various managers.101. Relative ranking systems require managers to make performance distinctionsamong workers even if none actually exist.102. Absolute rating systems eliminate the common problem of relative systems of allworkers receiving similar ratings by forcing the supervisor to make objectivedistinctions.103. Colleen is appraising workers in the manufacturing department of a woodworkingshop. She ranks Horace as the most skilled woodworker, Kayla as the second mostskilled woodworker, and Eric as the least skilled of the three. Colleen isperforming an absolute judgment appraisal.104. Trait ratings evaluate worker characteristics that tend to be consistent andenduring. Consequently, like absolute systems, they eliminate all ambiguity andarbitrariness in ratings.105. The most common form of behavioral appraisal instrument tends to measure thevalue rather than the frequency of rated behaviors.276106. Like trait systems, behavioral systems are somewhat relative since theeffectiveness and frequency of an important behavior is subjectively judged by therater.277107. Behavioral rating systems are generally focused on an employee’s performance,rather than their personal characteristics.108. Behavioral rating systems are well accepted by managers since the method alignswith the way they think about their employees on a day-to-day basis.109. The advantage of outcome-based appraisal systems is that they eliminatesubjectivity and potential for rater error.110. The choice of which appraisal tool to use should be based on the purpose of theappraisal.111. Sudhir is evaluating Carol’s performance. Sudhir has a poor opinion of Carolbecause she irritates him by asking questions and questioning his judgment indepartment meetings. When the HR director reviews Carol’s performanceevaluation, he notes that Sudhir has consistently rated Carol low. The HR directoragrees in areas of judgment and tact but knows that Carol is considered one of thedepartment's most effective people in other areas. What the HR director notes inSudhir’s evaluation is the rater bias called the halo effect.112. Yolanda tends to appraise all workers in her department at the high end of themeasuring scale. This may be due to a severity error.113. It is important to train raters to eliminate rater errors.278114. Liking is an emotional and conscious response on the part of employers and isestablished over a long period of time.279115. The use of a performance diary is an excellent, almost foolproof way of guardingagainst the performance evaluation error called “liking.”116. Maximizing benefits over costs is the primary goal of rational performanceappraisal.117. Rational and political perspectives on performance appraisal differ in that therational approach seeks as clear a definition of worker performance as possible,while the political perspective seeks ambiguity.118. In team environments, experts recommend eliminating individual performanceevaluation to avoid creating rivalries within teams.119. When evaluating individual contributions to team performance, a trait measureshould be used because it helps to eliminate rater bias.120. When assessing the basis of a performance problem, managers should focus onemployee ability and motivation, and largely igno re situational factors, since theseare beyond the employee’s control.
general business data bank general business data bank Question Question 1 Which one of the following terms is defined as a conflict of interest between the corporate shareholders and the corporate managers? ________ A. articles of incorporation B. corporate breakdown C. agency problem D. bylaws E. legal liability Question 2 Which one of the following is a capital budgeting decision? A. determining how many shares of stock to issue B. deciding whether or not to purchase a new machine for the production line C. deciding how to refinance a debt issue that is maturing D. determining how much inventory to keep on hand E. determining how much money should be kept in the checking account Question 3 Decisions made by financial managers should primarily focus on increasing which one of the following? A. size of the firm B. growth rate of the firm C. gross profit per unit produced D. market value per share of outstanding stock E. total sales Question 4 The book value of a firm is: A. equivalent to the firm's market value provided that the firm has some fixed assets. B. based on historical cost. C. generally greater than the market value when fixed assets are included. D. more of a financial than an accounting valuation. E. adjusted to the market value whenever the market value exceeds the stated book value. Question 5 A firm has $520 in inventory, $1,860 in fixed assets, $190 in accounts receivables, $210 in accounts payable, and $70 in cash. What is the amount of the current assets? A. $710 B. $780 C. $990 D. $2,430 E. $2,640 Question 6 List and briefly describe the three general areas of responsibility for a financial manager. The three areas of responsibility for a financial manager are capital budgeting, capital structure and working capital. Question 7 Crandall Oil has total sales of $1,349,800 and costs of $903,500. Depreciation is $42,700 and the tax rate is 34 percent. The firm does not have any interest expense. What is the operating cash flow? A. $129,152 B. $171,852 C. $179,924 D . $281,417 E. $309,076 Question 8 Relationships determined from a firm's financial information and used for comparison purposes are known as: A. financial ratios. B. identities. C. dimensional analysis. D. scenario analysis. E. solvency analysis. Question 9 According to the Statement of Cash Flows, a decrease in accounts receivable will _____ the cash flow from _____ activities. A. decrease; operating B. decrease; financing E. increase; investment Question 10 The Corner Hardware has succeeded in increasing the amount of goods it sells while holding the amount of inventory on hand at a constant level. Assume that both the cost per unit and the selling price per unit also remained constant. This accomplishment will be reflected in the firm's financial ratios in which one of the following ways? A. decrease in the inventory turnover rate B. decrease in the net working capital turnover rate C. no change in the fixed asset turnover rate D. decrease in the day's sales in inventory E. no change in the total asset turnover rate
general business data bank general business data bank Question 1. Southwest Airlines spends more to recruit and train personnel than any other airline, yet the firm's competitive advantage is its low cost. / 2. The goal of a human resource strategy is to manage labor and design jobs so people are effectively and efficiently utilized. / 3. Equitable pay alone cannot achieve a reasonable quality of work life in an organization. / 4. Mutual trust means that both management and employee strive to meet common objectives. / 5. Technology, location, and layout decisions are all possible constraints on the human resource strategy. / 6. Labor planning determines employment stability. / 7. The two extremes of employment stability policy are "follow demand exactly" and "keep demand constant." / 8. Maintaining a stable workforce generally results in the firm paying higher wages than a firm that follows demand. / 9. Flextime is a system that allows employees, within limits, to determine their own work schedules. / 10. Labor specialization includes the development of specialized tools to reduce labor costs. / 11. An enlarged job has more responsibility than the same job enriched. / 12. Job rotation is an example of job enlargement. / 13. Fredrick W. Taylor is credited with introducing psychology into the workplace. / 14. Psychological factors have little relevance in the design of assembly line jobs since they involve physical products and production technology. / 15. Self-directed teams tend to be successful in work environments where there is little employee empowerment. / 16. The Hawthorne studies, which showed that there is a dynamic social system in the workplace, took place in the 1960s. / 17. Hackman and Oldham's five desirable characteristics of job design include job significance and autonomy. / 18. Job expansion can lead to increased labor cost because of the extra workers hired in the expansion. / 19. Profit-sharing is a motivation and incentive system where executives receive 20. The physical environment in which employees work may affect the quality of work life, but it does not affect their performance and safety. / 21. Ergonomics is a branch of economics that deals with costs of scheduling workers. / 22. An operations chart, or right-hand/left-hand chart, points out wasted motion and idle time. / 23. Kanbans and andons are both elements of the visual workplace, because they are visual signals that replace printouts and paperwork. / 24. "Visual workplace" is a term coined by Hawthorne, and refers to the need for proper lighting at employee workstations. / 25. Because various employment laws now require it, "equal pay for equal work" is no longer an ethical concern in the work environment. / 26. Working around asbestos raised ethical concerns before its inherent dangers became known. / 27. The purpose of labor standards is to accurately define the skills required to complete a job. /
BUS 644 Final paper Space Age Furniture Company BUS 644 Final paper Space Age Furniture Company Question Space Age Furniture CompanyThe Space Age Furniture Company manufactures tables and cabinets to hold microwave ovens and portable televisions. These products are made in various sizes and with various features, but all follow basically the same production and assembly operations. However, two of these products—the Saturn microwave stand and the Gemini TV stand—have a part (no. 3079) that requires machining on a special lathe used only for making that part. At present the machine is run by Ed Szewczak, a machinist who also operates other machines in Space Age’s shop. Once set up and started, the lathe can run nearly unattended. However, the machinist must be present (even if not actually attending the machine) any time one of the machines, including the lathe, is in operation. At present, Ed works a regular 40-hour week. However, due to the workload for producing part 3079, it has been necessary to schedule frequent overtime for him in order to finish the necessary parts on time.Coral Snodgrass, operations manager for Space Age, has just heard from Ed’s foremen that Ed is becoming unhappy about so much overtime. As Coral knows, Ed has been with the company a long time and is an excellent, reliable employee. Skilled machinists with Ed’s experience and employment record are extremely difficult to find. Coral wonders what can be done to alleviate this problem.Recently, Space Age began using an MRP system that has helped reduce inventories greatly and improve on-time deliveries. In fact, Space Age carries no finished-goods inventory. Instead, everything in the master schedule is being produced for customer orders, so all products are shipped almost immediately. Previously Space Age had estimated that it cost $1.25 per week to store each Gemini and $1.50 per week to store each Saturn that wasn’t shipped immediately. The master schedule for producing these two items for the next six weeks is shown below.Master ScheduleWeek Gemini600400700500400600Saturn300400400600300300The part in question, 3079, is used in two different subassemblies: no. 435, which is used in the Gemini TV stand, and no. 257, which is used in the Saturn microwave stand. One of part 3079 is used in each subassembly, and one of each subassembly is used in each of the final products.Part 3079 may be produced in any quantity since the lathe that makes it is not used for anything else. However, both of the subassemblies are produced using the same equipment. To minimize change over time, Space Age has decided that these subassemblies should be made in minimum quantities of 1,000 at a time, although there is no problem with capacity on the equipment that makes them. In fact, an order for 1,000 of subassembly 435 is due to be received in week 1, as is an order for 1,000 of subassembly 257. Lead time for both these subassemblies is one week, and no inventory is expected to be on hand for either part at the beginning of week 1. There is not any on-hand inventory of part 3079, and there are no orders in process.Ed Szewczak earns $22 per hour and gets a 50% premium for any overtime work. Whenever part 3079 is made, there is no set-up time, but processing takes 0.03 hour per unit. It costs $0.25 per week to hold any of these parts over from one week to the next. The cost of holding each subassembly in inventory is $0.75 per unit per week.1. What options are open to Coral to address this problem?2. How would reducing the minimum quantity of subassemblies help?3. What are the costs of carrying excess items in inventory at each stage?4. What is the trade-off between overtime costs and inventory costs?Which type(s) of production processing – job shop, batch, repetitive, or continuous – is the primary mode of operation? Explain.In what ways could management keep track of job status and location during production?Can you suggest any changes that might be beneficial to the company or add value for the customer? What are they?The final case study should demonstrate understanding of the reading as well as the implications of new knowledge. The paper should integrate Readings and Resources and class discussions into work and life experiences. It may include explanation and examples from previous events as well as implications for future applications.The purpose of the Final Case is for you to culminate the learning achieved in the course by describing your understanding and application of knowledge in the field of operations management.Guidelines for Writing the Final PaperReaddress the concept and the experience with critical thought. That is, what is your response to the content, either positive or negative, and then defend your position. If multiple options/alternatives/positions are present and are being rejected you must also defend the reasons for rejecting an option.Conclude with a restatement of the thesis and a conclusion paragraph.Paper must be ten- to- twelve double-spaced-pages in length, exclusive of Appendix, References, Exhibits, etc., and formatted according to APA style as outlined in the Ashford Writing Center.The paper must use at least five “outside” scholarly sources suitable for research in a graduate level course.Writing the Final PaperThe Final Paper:Must be ten to twelve double-spaced pages in length and formatted according to APA style as outlined in the Ashford University Writing Center.Must include a cover page that includes:- Title of paper- Student’s name- Course name and number- Instructor’s name- Date submittedMust include an introductory paragraph with a succinct thesis statement.Must address the topic of the paper with critical thought.Must end with a conclusion that reaffirms your thesis.Must use at least five "outside" scholarly resources.Must document all sources in APA style, as outlined in the Ashford Writing Center.Must include a reference page that is completed according to APA style as outlined in the Ashford Writing Center.
Question_DOC1_Dec11_3rd Question_DOC1_Dec11_3rd Question 81. Capital investment decisions involve investments in long-term operational assets. 82. Capital investments differ from stock and bond investments in that stock and bond investments can be sold in organized markets. 83. A capital investment decision is essentially a decision to exchange current cash outflows for future cash inflows. 84. The time value of money concept recognizes the fact that the present value of a dollar to be received in the future is worth less than a dollar. 85. A dollar to be received in the future is subject to the effects of risk and inflation. 86. The compensation a company receives for investing in capital assets is referred to as a return on investment. 87. The cost of capital represents the minimum acceptable rate of return that a capital investment should earn. 88. The cost of capital is sometimes referred to as the hurdle or discount rate. 89. Stephanie needs to have $10,000 one year from today. The formula to compute the amount of money that must be invested today is future value/(1 + interest rate). 90. The present value of $1 table should be used to discount lump sum cash flows expected to occur in the future. 91. Martin needs to compute the present value of $5,000 to be received four years from now. He should divide $5,000 by the appropriate Page 12 of 55 True False True False True False True False True False True False True False True False True False True False True False True False True False True False True False True False True False True False present value interest factor obtained from the present value of $1 table. 92. The present value of an annuity of $1 table could be constructed using the factors contained in the present value of $1 table. 93. An annuity is a series of equal payments over equal time intervals that earn a constant rate of return. 94. The instantaneous computation power of spreadsheet software makes it ideal for answering "what-if" questions regarding present values. 95. The assumption regarding ordinary annuities is that cash flows occur at the beginning of each period. 96. In doing a capital budgeting analysis that takes time value of money into account, cash flows generated by a capital project are assumed to be reinvested at the desired rate of return. 97. Because of the expense of applying multiple techniques, managers should use a single capital budgeting technique to analyze potential capital investments. 98. A project's net present value can be found by dividing the cost of the project by the total present value of the future cash flows generated by the project. 99. If a project has a positive net present value, its internal rate of return will exceed the firm's hurdle rate. 100. Investment projects A and B offer equal cash inflows over their lives, but the cash inflows for project A occur sooner than those for project B. The two projects are otherwise identical (the cost is the same, for example) Based on this information, the internal rate of return for A is higher than for B. 101. If the net present value for a capital investment is equal to zero, the internal rate of return for the investment is less than the required rate of return. 102. A capital investment with an internal rate of return equal to or greater than the required rate of return is considered to be an acceptable investment. 103. Sources of cash inflows from capital investments include incremental revenues and installation costs. 104. Cash outflows from a capital investment may include the purchase price for capital assets and increases in operating expenses. 105. When the effect of income taxes is considered in a capital budgeting analysis, the amount of depreciation expense must be added back to after-tax income to calculate the annual cash inflow. 106. Depreciation on a capital investment (such as equipment) has the effect of increasing the amount of income taxes that the company owning the asset must pay. 107. The amount of the depreciation tax shield can be calculated by multiplying the amount of depreciation expense by the tax rate. 108. Generally, a company should use the straight-line method to calculate depreciation on its income tax return, due to the effects of the time value of money. Page 13 of 55 True False True False True False True False True False True False True False True False 109. If a company has to pay a given amount of income taxes over the life of a capital investment, managers of the company should seek to pay the taxes as early as possible in the investment's life. 110. The unadjusted rate of return shows how long will be required to recover the cost of an investment in a capital asset. 111. The payback method of evaluating capital investments measures the recovery of the investment, but it does not measure profitability. 112. When a capital investment is expected to provide unequal annual cash inflows, the payback period can be calculated by accumulating the incremental cash inflows until the sum equals the amount of the original investment. 113. When a capital investment is expected to provide unequal annual cash inflows, the payback period can be calculated using the average annual cash inflow from the capital investment. 114. The unadjusted rate of return is found by dividing the average incremental increase in annual net cash flow by the cost of the investment. 115. Generally, the unadjusted rate of return should be calculated based on the average investment rather than the amount of the original investment in a depreciable asset such as equipment. 116. A postaudit should be performed at the end of a capital investment project to determine whether the expected results were actually achieved. 117. Why is the time value of money often taken into account in analyzing a capital investment? 118. Why does a company use its cost of capital as the minimum required rate of return for its capital investment decisions? 119. Describe what is meant by the time value of money. 120. What is the reinvestment assumption, and how does the assumption affect capital investment analyses?
general business data bank general business data bank Question 38. The BIG Partnership has decided to liquidate at December 31, 20X8. The capital and loan balances of the partners at December 31, 20X8, are provided below: If you were to calculate the Loss Absorption Power for each partner, how would the partners rank (from highest to lowest LAP)? A. B, I, G B. I, B, G C. B, G, I D. G, I, B 39. Partner A has a smaller capital balance than Partner L. Partner A, however, has a higher profit-and-loss-sharing percentage than Partner L. The LA partnership has decided to liquidate. As a result of the information given, A. Partner L will have a smaller loss absorption power than A. B. Partner L will receive cash only after A has received cash. C. Partner A will have a smaller loss absorption power than L. D. Partner A will never receive any cash from partnership liquidation. 40. Which of the following statements is (are) true? I. In the calculation of the loss absorption power for a partner, a partner's loan balance (an amount that is owed by the partnership) should be added to the partner's capital balance. II. In liquidation, a partner's loan balance (an amount that is owed by the partnership) should be paid to the partner as a creditor of the partnership after the outside creditors. A. I only B. II only C. Both I and II D. Neither I nor II 41. When a partnership is liquidated on a piecemeal basis and cash has been distributed properly to all partners as noncash assets have been turned into cash, all future cash distributions should be made: I. In the profit and loss ratio. II. According to the balances in the partners' capital accounts. A. I only B. II only C. Both I and II D. Neither I nor II 42. The computation of a safe installment payment for the XYZ partnership resulted in only partner Z receiving cash. Which of the following statements is correct? I. Partner Z lent the partnership cash, and the partnership had to pay back the loan to Z before distributing cash to X and Y. II. After assuming all noncash assets were potentially worthless and that assumed capital deficits created in X's and Y's capital balances were losses to be allocated to Z; Z's capital balance was the only capital balance left with a credit. A. I only B. II only C. Either I or II D. Neither I nor II 43. The JKL partnership liquidated its business in 20X9. Due to an expected long liquidation period, a cash distribution plan was developed. The initial sale and realization of cash from noncash assets resulted in partner K properly getting $24,000. No other partners received cash along with K. Based upon this information, which of the following statements is correct? I. K's loss absorption power (LAP) was higher than J's LAP and L's LAP. II. K's capital balance was substantially larger than the balances of J and L. A. I only B. II only C. Either I or II D. Neither I nor II 44. A partnership may be involved in "Dissociation" or "Dissolution." Required: Describe "Dissociation" and "Dissolution." 45. A personal statement of financial condition dated December 31, 2008, is to be prepared for Wilhelm Holz. He provides the following information for your use in preparing the statements. All amounts are as of December 31, 2008. 1) Cash on hand and in bank is $4,000. 2) Investments costing $30,000 have a market value of $78,000. 3) His personal residence cost $150,000 ten years ago, and is currently worth $320,000. 4) The payoff balance of his home mortgage is $80,000. 5) The fair value of his 401(k) retirement account is $700,000. All withdrawals from the account will be fully taxable. 6) Amounts due on credit card debt total $5,000. 7) Estimated income taxes on his calendar 2008 earnings amount to $15,000. Taxes withheld in 2008 were $14,000. 8) Assume an income tax rate of 30 percent. Required: Prepare a statement of financial condition for Mr. Holz as of December 31, 2008. Assume any gain on subsequent sale of the residence will not be tax-exempt. 46. When Disney and Charles decided to incorporate their partnership, the trial balance was as follows: The partnership's books will be closed, and new books will be used for D & C Corporation. The following additional information is available: 1. The estimated fair values of the assets follow: 2. All assets and liabilities are transferred to the corporation. 3. The common stock is $5 par. Alice and Betty receive a total of 24,000 shares. 4. Disney and Charles share profits and losses in the ratio 6:4. Required: a. Prepare the entries on the partnership's books to record (1) the revaluation of assets, (2) the transfer of the assets to the D & C Corporation and the receipt of the common stock, and (3) the closing of the books. b. Prepare the entries on D & C Corporation's books to record the assets and the issuance of the common stock. 47. Listen and Hear are thinking of dissolving their partnership. Listen has a friend who told him to complete a "lump-sum" liquidation. Hear wants to complete an "installment" liquidation. They have come to you for advice. What do you recommend and Why? 48. On March 1, 20X9, the ABC partnership decides to complete a lump-sum liquidation as soon as possible. The partnership balance sheet prepared on March 1 appears below: The partners share profits and losses in the ratio of 3:4:3. Partner B is personally insolvent, but partners A and C have sufficient personal assets to satisfy any capital deficits. On March 15, 20X9, the non-cash assets are sold for $550,000. Lump sum payments are made to the partners on March 16, immediately after the creditors have been paid. Required: Prepare a statement of partnership realization and liquidation. 49. The partnership of Rachel, Adams, and Nixon has the following trial balance on September 30, 2009: The partners share profits and losses as follows: Rachel, 50 percent; Adams, 30 percent; and Nixon, 20 percent. The partners are considering an offer of $180,000 for the accounts receivable, inventory, and plant and equipment as of September 30. The $180,000 will be paid to creditors and the partners in installments, the number and amounts of which are to be negotiated. Required: Prepare a cash distribution plan as of September 30, 2009, showing how much cash each partner will receive if the offer to sell the assets is accepted. 50. Refer to the facts in Question 46. The partners have decided to liquidate their partnership by installments instead of accepting the offer of $180,000. Cash is distributed to the partners at the end of each month. A summary of the liquidation transactions follows: October 1. $25,000 is collected on accounts receivable; balance is uncollectible. 2. $20,000 received for the entire inventory. 3. $1,500 liquidation expense paid. 4. $40,000 paid to creditors. 5. $10,000 cash retained in the business at the end of the month. November 6. $2,000 in liquidation expenses paid. 7. As part payment of his capital, Nixon accepted an item of special equipment that he developed, which had a book value of $8,000. The partners agreed that a value of $12,000 should be placed on this item for liquidation purposes. 8. $4,000 cash retained in the business at the end of the month. December 9. $150,000 received on sale of remaining plant and equipment. 10. $1,000 liquidation expenses paid. No cash retained in the business. Required: Prepare a statement of partnership realization and liquidation with supporting schedules of safe payments to partners. , Attachments (206.38 KB)
general business data bank general business data bank Question In international business, a course of action that is legal is invariably also ethical.True or false?Rights that are taken for granted in developed countries, such as freedom of speech, find universal acceptance.True or false?Environmental pollution regulations are usually much more stringent in developing countries than in rich industrialized nations.Ture or false?