What defines an insular, inwardly focused culture?
A. The firm values their customers' opinions and fully understands their needs and expectations.
B. The firm's unflinching belief in the company's superiority breeds a champion's attitude and thus they thrive on doing better by adapting to fresh thinking from outside the company.
C. The firm never underestimates rivals because of their proven track record in defending challenges.
D. The firm has a commitment to hiring young people who can offer fresh thinking and new perspectives.
E. The firm believes they have all the answers because of their past great market success and is thus overconfident.
Answer: E
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Silvia's Studio provided $150 of dance instruction and rented out its dance studio to the same client for another $100. The client paid cash immediately. Identify the general journal entry below that Silvia's Studio will make to record the transaction.
A.
| Cash | 250 | |
| Rental Revenue | 100 | |
| Instruction Revenue | 150 |
B.
| Rental Revenue | 100 | |
| Instruction Revenue | 150 | |
| Accounts Receivable | 250 |
C.
| Unearned Revenue | 250 | |
| Rental Revenue | 100 | |
| Instruction Revenue | 150 |
D.
| Rental Revenue | 100 | |
| Instruction Revenue | 150 | |
| Cash | 250 |
E.
| Accounts Payable | 250 | |
| Rental Revenue | 100 | |
| Instruction Revenue | 150 |
Glassmaker Corporation Data
Glassmaker Corporation has a currentcapital structure consisting of $100 million (market value) of 9% bonds and $300 million (market value) of common stock. Glassmaker's beta is 1.5. Glassmaker faces a 25% tax rate.Glassmaker plans on making big changes in operation and capital structure during the next several years. (Its tax rate will remain unchanged.) Under these plans, the free cash flows for Glassmaker are estimated to be $29 million for each of the next 4 years; the horizon value of the free cash flows (discounted at the rate assumed by the compressed adjusted present value (CAPV) approach) is $487 million at Year 4. Glass maker will increase its debt to $140 million in the recapitalization. This will cause the estimatedtax savings due to interest expenses areestimatedto be$3.2 million for each of the next 4 years; the horizon value of the tax shields (discounted at the rate assumed by the CAPV approach) is estimated to be $53 million at Year 4. Glassmaker has no nonoperating assets. Currently, the risk-free rate is 6.0% and the market risk premium is 4.0%. ? Refer to data for Glassmaker Corporation. According to the compressed adjusted present value model, what discount rate should you use to discount Glassmaker's free cash flows and interest tax savings? A. 10.00% B. 11.00% C. 11.25% D. 12.03% E. 13.11%
Which of the following affects the reading level of a written passage?
a. Length of passage and number of difficult words. b. Ratio of nouns to verbs. c. Number of compound and complex sentences. d. Average sentence length and percentage of difficult words.
A definite time required for negotiability would NOT be satisfied in which instance?
a. Payable on or before January 2, 2015. b. Payable one year from the completion of the building c. Payable one week after demand is made. d. Payable on June 15, 2014 or, if the building is not complete on that date, one year from that date.