Question 1
Help with homework Questions: Problem 1: Calculate the future value of an investment, given the following characteristics: (a) PV: $30,000, (b) NPER: 25, (c) Rate: 5%. Problem 2: Using the information from Problem 1, calculate the future value of the same investment using daily compounding (Hint: Divide the Rate by 365 and multiple the Number of Years by 365). = 30,102.91 ? Problem 3: Calculate the present value of an investment, given the following characteristics: (a) FV: $120,000, (b) Rate: 14%, and (c) NPER: 20. Problem 4: Calculate the rate of return on an investment, given the following information: (a) FV: $50,000, (b) PV: $1,000, and (c) NPER: 15 Problem 5: Calculate the NPER for an investment, given the following information: (a) FV: $25,000, (b) PV: $10,000, and (c) Rate: 10%. Problem 6: Calculate the FV on an ordinary annuity, given the following information: (a) PMT: $1,000, (b) NPER: 15, and (c) Rate: 10%. Problem 7: Calculate the PV of an annuity due, given the following information: (a) PMT: $4,000, (b) Rate: 5%, and (c) NPER: 10. Problem 8 (Extension Population Growth): If the current population of city X is 1,000,000 citizens, how long would it take for the city to reach 2,000,000 citizens if the growth rate was 5%?
Question 2
1. In April 2003, analysts at Morgan Stanley and Prudential had set 12-month target prices of $106 and $108 for the firm eBay. At that time, eBay?s stock price was $89.22 and the consensus forecast for eBay EPS was $1.45. Subsequently, eBay split its stock two-for-one. Its actual EPS truned out to be $0.82, (postsplit, corresponding to $1.64 on a presplit basis). On April 30,2004, eBay?s stock price closed above $82 ($1.64 on a presplit basis), and the consensus analyst EPS forecast for the subsequent 12 months was $1.18 (postsplit). Discuss whether the stock of eBay was efficiently priced in April 2003. (in answering the question, you may wish to refer to the discussion in Chapter 2.0 2. Consider the comments of Brian Walker, the president of Herman-Miller North America, who was quoted in the chapter as having said: ?For Dot.coms, it appears that the market has implicitly capitalized a lot of those costs. The market views their negative earnings as investments in the future. It?s more difficult for a traditional Old Economy company trying to participate in the New Economy, because when it affects my earnings, it?s more difficult for Wall Street to say, ?We will give you a break on this.?? Discuss Walker?s remark in the context of the concepts developed in the chapter. 3. Analyst Safa Rashtchy?s developed his 2010 forecast for EBay?s revenue by assuming that is annual growth would be about a 10 percent compounded annual growth rate between 2002 and 2010. In the previous year, eBay?s revenue had grown at the rate of 62 Percent, and the firm forecast that its revenue would increase by 58 Percent in 2003. Which, if any, of the behavioral elements described in chapter 1 might have affected Rashtchy?s long-term forecast? 4. Consider Robert Galvin?s approach to evaluating the satellite project proposal. The text suggests that in not developing discounted cash flow analysis, Galvin?s approach was flawed. In hindsight, Iridium was failed project for Motorola, and even positive NPV projects ca turn out to be failures after the fact, Can you provide a critique of the behaviorally based argument and suggest some reasons why in foresight it might have been entirely rational for Robert Galvin to have proceeded in the way that he did?,ok i'm fine with 24 hrs deadline, also you requested to increase the payment from 20 to 30 which i did but some how they charge me twice, let me know what should i do or where do i call to get one payment canceled,where do i go to increase the dealine,ok but under my credit history it shows charged twice 30 and 30,ok thanks
Question 3
____ 25. Customer fraud includes all of the following EXCEPT: a. Get something for nothing. d. Deceive organization into giving them something they should not. b. Do not pay for goods purchased. e. both a and d. c. Fraud perpetrated through collusion between buyers and vendors. ____ 26. Which of the following is true about invigilation? a. When invigilation is conducted, it is best to cover all aspects of the business. d. The strict controls imposed are temporary in nature. b. During the period of invigilation, evidence is presented to suspects with the hopes of getting a confession. e. None of the above. c. Invigilation should be accomplished in 5-7 days. ____ 27. An example of indirect employee fraud would be a. an employee receives a kickback from a vendor. d. an employee uses company assets to run his/her private business. b. employees establish dummy companies and have their employers pay for goods that are not actually delivered. e. None of the above. c. an employee steals company assets such as supplies or inventory. ____ 28. Which level in the ethical maturity model can be summarized as ?willingness to pay the price for ethics?? a. Personal ethical understanding d. Ethical positioning b. Application of ethics to business situations e. None of the above. c. Ethical courage ____ 29. All of the following are part of the fraud element triangle except: a. Theft act d. Concealment b. Layering e. All of the above are part of the fraud element triangle. c. Conversion ____ 30. Collection under which type of fidelity bond depends upon unequivocal evidence of employee theft? a. Blanket position bond. d. Name schedule fidelity bond. b. Primary commercial blanket bond. e. None of the above. c. Wall Street bond. ____ 31. One of the disadvantages of Benford's law in detecting fraud is: a. it is only an approximation of whether or not there is actually fraud. It does not reduce the prospects to a small enough number of leads to work with. d. it is very expensive to implement and use. b. that those cases with the lowest probabilities do not match Benford?s law and may need further investigation. e. none of the above. c. potential suspects are more likely to know you are trying to detect fraud than if you use such detection techniques. ____ 32. Who are primarily the injured parties in financial statement fraud? a. Middle management d. Insurers b. Organizations that buy goods or services e. Analysts c. Stockholders ____ 33. Out of the circumstances below, which would be least favorable to fraud? a. Moral decay in upper management d. Outstanding bills at home b. Mandatory vacation time e. All of the above are favorable to fraud c. Economic downturns ____ 34. A company is a victim of a $414 million fraud. At that time its profit margin is 10%. How much additional revenue should the company generate in order to recover the effect on net income? a. $414 million d. $4.14 billion b. $41.4 million e. None of the above. c. $41.4 billion ____ 35. Mark owns a 24-hour convenience store. Lately he has noticed that the liquor inventory purchases have gone up by huge amounts, although sales proceeds from this category haven't increased. He is doubting his two night-shift employees. Which is the best investigative method to uncover such a fraud? a. Concealment investigation d. Inquiry investigation b. Conversion investigation e. None of the above c. Covert operation ____ 36. Accounting anomaly fraud symptoms frequently consist of problems with various data and books of accounts. Which of the following is not one among them? a. Faulty journal entries d. Inaccuracies in ledgers b. Inaccuracies in source documents e. Both a and d. c. Rounding adjustments ____ 37. What are the key characteristics for a low-fraud environment? a. Recognition, remorse, and restitution. d. Rules, consequences, and fear. b. Opportunity, incentive, and rationalization. e. None of the above. c. Honesty, openness, and assistance. ____ 38. Which of the following observations is true about discovery sampling? a. Auditors using this method can always be certain that fraud does not exist in a population of checks. d. It is one of the more difficult statistical sampling variations to understand. b. It deals with the probability of discovering at least one error in a given sample size if the population error rate is a certain percentage. e. None of the above. c. It allows an auditor to generalize and make inferences from the population to the sample. ____ 39. Which of the following proactive fraud detection methods use Benford's Law to identify fraud? a. Vertical analysis d. Digital analysis b. Time trend analysis. e. None of the above. c. Real-time analysis ____ 40. Which of the following observations is true concerning discovery? a. It is the last stage of the civil litigation process. d. It is a series of written questions that specifically identify information needed from the opposing party. b. It is one of the stages in a civil litigation but not in a criminal litigation. e. None of the above are true. c. Frequenty it is the most difficult part of civil litigation because discovery has the potential to be costly and take up a great deal of time. ____ 41. If opportunities or perceived pressures are minimal, a person needs more ________ to commit fraud. a. motivation d. courage b. financial gain e. rationalization c. support from people at workplace ____ 42. If we looked at a summary of the characteristics for a majority of fraudsters, it would look like: a. Those who are uneducated d. Those with criminal records b. Those of other honest people e. None of the above. c. Those who use alcohol and drugs ____ 43. In the past, most frauds were detected: a. by providing ways for people to report suspected fraud. d. by inspecting documentation of transactions to determine if there are irregularities that could indicate fraud. b. by accident. e. None of the above. c. by surveillance and undercover operations. ____ 44. When only a very small amount of money has been embezzled: a. taking no action is the best course of action. d. the company should transfer the perpetrator to a position with more supervision. b. the perpetrator should be prosecuted. e. none of the above. c. the perpetrator should be punished by publishing the details of the fraud in the local newspapers. ____ 45. Although there are multiple approaches to fraud investigation, most investigators tend to rely heavily on ______. a. interviews d. surveillance b. honesty tests e. none of the above. c. invigilation ____ 46. Management fraud is often referred to as: a. stockholder fraud. d. investment fraud. b. financial statement fraud. e. both c and d. c. affinity fraud. ____ 47. The burden of proof in a criminal case must: a. be beyond a reasonable doubt. d. lie with the defendant. b. be the preponderance of knowledge and power. e. both c and d. c. be preponderance of evidence. ____ 48. Which investigation technique usually does not work well in kickback situations? a. Inquiry d. Theft b. Conversion e. None of the above work well c. Concealment ____ 49. Which of the following differentiates lower-level and higher-level trial courts? a. The number of judges. d. Higher-level trial courts are for the purpose of appeals. b. The amounts and the seriousness of the crimes. e. Both a and d. c. Availability of the court. ____ 50. A(n) ____ is a means of securing documents in the other party's possession that are relevant to the issues of the case. a. interrogatory d. request for admission b. subpoena e. none of the above c. production request ____ 51. Which statistical approach is one of the most powerful and yet simple methods for identifying outliers? a. N-grams d. Soundex algorithm b. Time-trend analysis e. None of the above c. Z-score ____ 52. Control activities can be grouped as preventive controls and detective controls. Which of the following is a detective control? a. Independent checks d. Physical safeguards b. Segregation of duties e. None of the above c. System of authorizations ____ 53. Psychological studies have found that the first feelings experienced when a crime is committed (especially the first time) are ____ and ____. a. defensiveness, confession d. anxiety, insomnia b. guilt, fear e. none of the above c. confidence, rationalization ____ 54. Which of the following key activities related to fraud, is the most economical way to reduce losses from fraud? a. Fraud prevention d. Follow-up legal action b. Early fraud detection e. None of the above. c. Fraud investigation ____ 55. Several factors are considered in deciding whether or not to investigate fraud. Which of the following is not one of them? a. Exposure or amount that could have been taken. d. Perceived strength of the predication. b. The signal that investigation or noninvestigation will send to others in the organization. e. Perceived cost of the investigation. c. Preparation of a surveillance log. ____ 56. In large cases that involve investigators, legal counsel, accountants, expert witnesses, and management representatives, coordination can be very difficult. ________ can be useful in such cases. a. CaseMap d. Ringtail b. DatiCon e. None of the above c. Analyst?s Notebook ____ 57. Surveillance is usually used to investigate: a. Conversion possibilities. d. Theft acts. b. Concealment possibilities. e. All of the above. c. Key internal controls. ____ 58. Identify the true statement about detecting fraud using financial statement reports. a. Small frauds may not affect the summarized financial statements significantly to be detected. d. Performing horizontal analysis requires converting the financial statement balances to percentages of total assets or gross sales. b. Before performing a data-driven analysis that targets fraud and corruption in financial statements, all three types of financial statements need to be converted to change statements. e. None of the above. c. Vertical analysis is the most direct method of focusing on changes from period to period. ____ 59. Which of the following statements about accounting systems is incorrect? a. An effective accounting system can almost always effectively prevent "kickbacks." d. Effective accounting systems make it hard to conceal fraud. b. The absence of a good accounting system makes it hard to differentiate between unpremeditated mistakes and fraud. e. All of the above are correct. c. Effective accounting systems give an audit trail that helps to discover frauds. ____ 60. Generally, internal controls are implemented in a corporation to help prevent which element of the fraud triangle? a. Rationalization d. Perceived pressure b. Authorization e. None of the above. c. Perceived opportunity ____ 61. Fraud occurs when perceived pressure, perceived opportunity and rationalization combine. Which of the following is related to the problem of segregation of duties? a. Samantha writes expense checks and Matt collects cash from customers. d. John records receivables and writes off bad debts. b. Steve order office supplies and deposits the company?s checks. e. None of the above. c. Julie records journal entries and orders lunch. ____ 62. Methods for concealment investigation include all but which of the following? a. Audits d. Document examination b. Honesty testing e. None of the above c. Computer searches ____ 63. Fraud in companies such as WorldCom, Enron, Waste Management are examples of: a. Customer fraud. d. Management fraud. b. Investment scams. e. Both b and c. c. Vendor fraud. ____ 64. All of the following factors can be linked to increased amounts of fraud and a negative work environment except: a. low turnover. d. lack of recognition of job performance. b. unrealistically low pay. e. All of the above are factors. c. top management that ignores the behavior of employees. ____ 65. Poor credit could become a ____ that could lead to fraud. a. Financial pressure c. Perceived opportunity b. Rationalization d. All of the above. ____ 66. The _____ is the overall tone of the organization that management establishes by the example it sets, the way it organizes the company and by the way it communicates, etc. a. support network d. control environment b. risk mitigation channel e. none of the above c. detection framework ____ 67. Which of the following is not an element of a good control environment? a. Modeling d. Trust b. Management's ability to communicate e. All of the above are elements of a good control environment. c. Suitable screening of employees before hiring. ____ 68. Preventive controls that provide a possibility of early fraud detection include: a. documents and records. d. independent checks. b. lack of proper authorization e. all of the above are preventative controls that provide a possibility of early fraud detection. c. segregation of duties. ____ 69. According to the study mentioned in the text, people who commit fraud are most similar to which of the following groups? a. College students d. Police officers b. Property offenders e. None of the above. c. Petty offenders. ____ 70. Which of the following is NOT a common rationalization of fraud perpetrators? a. I don?t deserve more. d. No one will get hurt b. I'm only borrowing the money e. All of the above are common rationalizations. c. The organization owes me ____ 71. Which of the following observations concerning occupational fraud is NOT true? a. It is committed for an indirect economic advantage to the employee. d. It always involves two or more employees. b. It costs the employer revenues and/or assets. e. It can be committed for a direct economic advantage to the employee. c. Normally it is surreptitious. ____ 72. Developing and promoting a well-defined corporate code of conduct is related to which element of the fraud-fighting model? a. Proactive fraud detection d. Tone at the top b. Education & training e. None of the above c. Investigation & follow-up ____ 73. What most weakens an expert?s credibility? a. Appearing pompous or aggressive. d. Boring the jury with long, overly detailed answers. b. Not being prepared and/or being unfamiliar with the facts of the case. e. All of the above. c. Bringing notes, work papers, or other material to the witness stand. ____ 74. A ______ is a request by one of the parties to have the court decide all or a part of the lawsuit should be dismissed because there are not any disputeable issues of fact. a. motion for summary judgment d. motion for evidence suppression b. motion for settlement e. none of the above c. motion for trial and appeal ____ 75. What is the general order of occurrence for a civil trial? a. Investigation and pleadings; discovery; motion practice and negotiation; trial and appeals. d. Trial and appeals; investigation and pleadings; discovery; motion practice and negotiation. b. Motion practice and negotiation; investigation and pleadings; discovery; trial and appeals. e. None of the above. c. Discovery; investigation and pleadings; trial and appeals; motion practice and negotiation.
Question 4
"Given Topic: Many businesses around the world still fail because their capital investment decisions are based upon a calculation on the back of an envelope and do not take any of the correct factors into account. Even larger businesses often get this wrong. This is a true sign of poor resource management. Do you agree or disagree? Discuss the alternative methods of investment appraisal and describe the limitations of these to help justify your arguments. How do you think that capital budgeting decisions should ideally be made by different types of organisations? I have attached one of my class mate( Clara Chime) response to above topic. I need your help to read the attached solution (Raj Kuma Fernandez is my class mate name) and assess the extent to which: ? contribute original views ? build creatively on the views of others ? show intelligent critique of theory or practice ? add an international or cultural aspect to the class ? show originality in the application of theory ? clarify the theory being studied ? Encourage the effective contribution of other members of the class. Document requirement should around 2 paragraphs with 2 to 3 lines. May be around 500 words would be sufficient.
Question 5
Winfrey Co.'s March 31 inventory of raw materials is $ 150,0000. Raw materials purchases in April are $ 400,000, and factory payroll cost in April $220,000. Overhead costs incurred in April are: indirect materials, $30,000; indirect labor, $14,000; factory rent, $20,000; factory utilities, $ 12,000; and factory equipment depreciation, $30,000. The predetermined overhead rate is 50% of direct labor cost. Job 306 is sold for $380,000 cash in April. Costs of the three jobs worked on in April follow. Job 306 Job 307 Job 308 Balances on March 31 Direct materials $ 14,000 $ 18,000 Direct labor 18,000 16,000 Applied overhead 9,000 8,000 Costs during April Direct materials 100,000 170,000 $ 80,000 Direct labor 30,000 56,000 120,000 Applied overhead ? ? ? Status on April 30 Finished (sold) Finished (unsold) In process Part 1: Determine the total of each production cost incurred for April (Direct labor, direct materials, and applied overhead), and the total cost assigned to each job (including balances from March 31) Part 2: Prepare journal entries for the month of April to record the following a. Materials purchases (on credit), factory payroll (paid in cash), and actual overhead costs including indirect materials and indirect labor. (Factory rent and utilities are paid in cash.) b. Assignment of direct materials, direct labor, and applied overhead costs to the Goods in Process Inventory. c. Transfer of Jobs 306 and 307 to the Finished Goods Inventory d. Cost of goods sold for Job 306. e. Revenue from the sale of Job 306. f. Assignment of any underapplied or overapplied overhead to the Cost of Goods Sold account. (the amount is not material.) Part 3: Prepare a manufacturing statement for April (use a single line presentation for direct materials and show the details of overhead cost) Part 4: Compute gross profit for April. Show how to present the inventories on the April 30 balance sheet. Thank you!
