Identify if the following are liquidity, profitability or solvency ratios and explain what each of the following tells us about a company (matching)

a    Inventory turnover

b Quality of income

c     Net profit margin

d    Times interest earned

e        Debt to assets

f     Fixed asset turnover

g         Receivables turnover

h          Earnings per share

i        Quick ratio
j          Current ratio – know calculation

College students Suppose a recent study of 1,000 college students in the U.S. found that 8% of them do not use Facebook. Which of the following describes the population for this example?

-All College students in the US

-The 1000 college students who participated in the study

-all college students in the US who do not use facebook

-The 8% of college students who do not use facebook

Which of the following defines what is meant by a control group in an experiment

-A group that is handled identically to the treatment groups in all respects except that they are controlled to greater extend than the other groups, providing baseline data.

-a group that is used by researchers to monitor how the experiment is going

-a group that is handled identically to the treatment group in all respects except that they dont recieve the active treatment

-none of the above

Which of the following studies can result in researchers extending the results inappropriately because the sample doesn’t represent the intended population?

-Studies involving randomly selected participants

-studies involving convenience samples

-experimental studies

-all of the above

Without random assignment, which of the following can happen?

-naturally occuring confounding variables can result in an apparent relationship between the explanatory and response variables

-the results may not be able to extend to a larger population

-Many people in the study will drop out because they aren’t happy with the treatment they were assigned to. This will cause bias in the results

-none of the above

Making a Type I error is only possible if the ____ hypothesis is true.

-alternative

-null

-power

-none of above

The National Collegiate Athletic Association (NCAA) requires colleges to report the graduation rates of their athletes. Here are data from a Big Ten university's report: 45 of the 74 athletes admitted in a speci fic year graduated within 6 years. Does the proportion of athletes who graduate di ffer significantly from the all-university proportion, which is .70 ?

What is the sample size

-45

-74

-119

-0.029

What is the sample proportion?

-6

-0.61

-6

-65

What are the null and alternative hypotheses?

-Null: p>0.70; alternative: p <0.61

-Null: p=.61; alternative: p <.0..61

-Null: p=0.70; alternative: p is not 0.70

-Null: p=.70; alternative: p > .70

What is the value of the test statistic for your observed results?

-1.70

- (-)2.70

- (-) 1.70

-0.53

What is the p-value for your observed results?

-0.9554

-0.0892

-0.002

-0.998

What is your conclusion? Please use words that a non-statistics student would understand, and justify your answer. Assume a significance level of .05.

-Since the p-value (.9554) > .05, do not reject the null hypothesis. This means that the sample evidence is not strong enough to conclude that the proportion of athletes who graduate di ffer signi ficantly from the all-university proportion of 0.70

-Since the p-value (.0892) > .05, we failed to reject the null hypothesis. This means that the sample evidence is not strong enough to conclude that the proportion of athletes who graduate di ffer signi ficantly from the all-university proportion of 0.70

-Since the p-value (.998) > .05, reject the null hypothesis. This means that the sample evidence is not strong enough to conclude that the proportion of athletes who graduate di ffer signi ficantly from the all-university proportion of 0.70

-since the p-value (.002) < .05, reject the null hypothesis. This means that the sample evidence is strong enough to conclude that a larger proportion of peopleown bread machine than 3 years ago.

Based on your conclusion, what type of error are you risk at?

-type I error

-type II error

-type I and type II error

-none of the above

If the power of the test is 87% for this test, what is the probability of the test making type II error?

-larger than 87%

-13%

-87%

-not enough information

What is the 95% of confidence interval of proportion of athletes graduate within 6 years ?

-(0.302,0.398)

-(1.10.1.32)

-(0.496, 0.724)

Base on your result of 95% confidence interval, can you conclude that majority of the athletes graduate within 6 years?

-No, because 0.50 is in the interval.

-No, because 0.70 is in the interval

-Yes, because 0.40 is not in the interval.

CASE STUDY - Global Bike Incorporated GBI Background Global Bike is a world class bicycle company serving the professional and “prosumer” cyclists for touring and off-road racing. Global Bike Inc. is registered as a US company, following US GAAP accounting standards. Due to several tax and export issues, Global Bike Groups’s headquarters remains located in Dallas while its subsidiary company, Global Bike Germany GmbH, which is based in Heidelberg is subject to IFRS accounting standards and German tax regulations. History GBI divisions were running multiple, independent application environments. This was inefficient, inaccurate, and expensive, and information was not available in real-time. In fact, many of GBI’s processes were obsolete and there was a need to dismantle existing processes into individual activities and put them back together in a new set of business flows. In addition to this, GBI ran into trouble with its reporting to the IFRS in 2017 because some significant financial transactions could not be accounted for. GBI started to struggle for market share with a relative newcomer to the bicycle industry, FED Bicycles who was emerging as a formidable player largely due to the company’s culture of embracing technology as a strategic competitive advantage in improving efficiency and customer service. GBI was experiencing shipping errors due to the wrong address or loading the box on the wrong truck. Errors happened frequently on systems that required manual data entry, and multiple systems required redundant processes to utilize the data. Much of the bicycles looked similar, which allowed for picking errors. Fixing these errors were expensive and time consuming. GBI’s customer service received an overwhelming number of phone inquiries each day that required time and cost-consuming processes to locate approximate package status. GBI divisions were running multiple, independent application environments. This was inefficient, inaccurate, and expensive, and information was not available in real-time. In fact, many of GBI’s processes were obsolete. In 2017, GBI ran into trouble with its reporting to the IFRS because some significant financial transactions could not be accounted for. It was at this time that GBI decided to dismantle existing processes into individual activities and put them back together in a new set of business flow, with an ERP system as the enabling technology. Technology Implementation GBI integrated a shared services model for all IT functions, located in the Dallas office. Along with this move to centralized IT, Global Bike also implemented SAP ERP (version 6.0). GBI set up teams to implement hardware and software, modify the software to meet the goals, convert the legacy data to the new system, and develop a reporting framework and initial set of reports to be included in the system implementation. Not having highly skilled IT developers and a proven process for managing such big technology projects, GBI engaged an external company as an implementation partner. The external consultant evaluated the different ERP systems on the market and recommended SAP. GBI initially believed that SAP was not a good fit, but as the company went through the evaluation process, finally decided SAP actually was the best system for them. The implementation approach started off with a goal to minimize the tailoring of SAP but later changed to become focused on changing the system to match their processes. Eight different modules were implemented, first starting with the Sales and Distribution, Procurement, and Accounting modules. Next the Warehouse Management, Production, and Asset Management were included, and finally, the Project Systems, and Quality Management modules were incorporated. Problems experienced in the implementation of the first three modules were also experienced in the implementation of the subsequent modules. Interviews with staff during the project revealed a culture of closed communication and very little commitment to training. At some point, there seemed to be no more contribution from the implementation partner, who was also responsible for providing training. The project took eighteen months to complete, and several staff resigned before the end of the project as they were unsure of the changes happening in the company. Despite the issues, the system went live. Difficulties continued in the first sixty to ninety days. Further interviews with staff indicated that there was a huge number of support calls recorded as many of them could not utilise the capabilities of the system and had in fact forgotten most of the things they had been taught about the new system. Many comments reflected that it took so much time to learn the system. There were also many comments reflecting incomplete integration of the Warehouse Management module with the Production and Sales and Distribution modules. Particularly, stock in the warehouse was not displaying correctly when viewed from the Sales and Distribution module. Stabilisation took a little longer than expected. One year later however, the implementation one year was considered successful. Outcomes By implementing the ERP, GBI saved a tremendous amount of money for the goods and services purchased from hundreds of locations around the globe. In addition, the GBI procurement network, which is very extensive due to numerous materials, is now rigorous because it was built on well-defined technological standards. When GBI adds new applications, therefore, they fit into the rest of their interconnected IT infrastructure, which doesn’t tolerate excessive waste. GBI makes sure all new technology fits in nicely over their architecture. Current Situation In the end, all ERP functions are centralized with the primary objectives to reduce costs and deliver best-in-class technology to all divisions globally. This centralized approach offers Global Bike an advanced business platform under a highly controlled environment, which enables consistency of operations and process integrity across the globe. Given the requirement for multiple accounting standards across the US and German companies, GBI maintains one leading accounting ledger for both companies, but also one accounting book for the US company and another for the German company. Material planning, finance, administration, HR and IT functions are consolidated at the Dallas headquarters. The Dallas facility manufactures products for the US and export markets and its warehouse manages product distribution for the central US and internet retailers. Global Bike Inc. also has warehouses for shipping and export in both San Diego and Miami. San Diego handles West Coast distribution and exports for Asia, while Miami handles East Coast distribution and Latin America exports. Global Bike Germany GmbH has its headquarters in Heidelberg Germany. The majority of research and development is housed in the Heidelberg offices. Heidelberg is also the main manufacturing facility for Global Bike in Europe. The Heidelberg warehouse handles all shipping for southern Europe. Global Bike operates two production facilities (Dallas and Heidelberg) and has outsourced the production of both off-road and touring frames and the carbon composite wheels to trusted partners who have specialty facilities to fabricate the complex materials used. Global Bike maintains very collaborative research and design relationships with these specialty partners to ensure that innovations in both material and structural capabilities are incorporated into the frames. Global Bike has established an extensive partner operation to ensure process continuity between Global Bike and its partners to deliver best-in-class products for its customers. Special attention has been paid to nurturing strong relationships with suppliers and Global Bike is generally the largest customer of its main suppliers. Given the highly specialized nature of Global Bike’s bicycles and the personalized needs of riders, Global Bike sells its bikes exclusively through well-known and respected Independent Bicycle Dealers (IBDs). These dealers employ staff members who are experts in off-road and tour racing to help consumers choose the right bike and accessories for their individual needs. GBI has several vendors across the US and Germany. Identification and selection of vendors, including negotiation of general conditions of purchase and contracts, for the US facilities are organised centrally from the US head office. Similarly, Identification and selection of vendors for the US facilities are organised centrally from the German head office in Heidelberg. GBI has several customers across the US and Germany. All credit for the US customers are managed by the US head office. Similarly, all credit for the German customers are managed by the German head office in Heidelberg. GBI has multiple assets and also tracks the financial consequences associated with the entire lifecycle of an asset, from acquisition to disposal. All financial transactions related to the processes and costs related to all of these processes are used for the internal management of the firm in terms of cost and revenue. What’s Next? GBI distributors and customers continue to desire the power to buy, sell, and research on their own terms – not as dictated by GBI. GBI still experiences data issues that make simple tasks such as tracking repeat customers difficult and needs all the data accessible in real time to track the individual customer’s buying behaviour and personal preferences. GBI is seeking to build close customer relationship by analysing customer information and permit coherent view of customer and is now contemplating a help desk ticket management software with fully integrated customer database to be connected to the ERP system. GBI’s key requirement is to provide gateway for customers to interact electronically with the company and in so doing create interaction points between the organization and the customer. In addition, GBI’s supply chain network remains very extensive due to numerous materials and now beginning to suffer as discount retailers have started to supply bicycles to GBI’s distributors, thereby encroaching on GBI’s market space. In response, GBI is now shifting to a high-end product line that would generate better profit margins by engaging suppliers to through joint design and collaborative planning, forecasting, and replenishment. To make this new strategy work, however, GBI is beginning to investigate new supply chain technologies and processes to drive the speed-to-market requirements of the new growth strategy.  

Answer the questions below in relation to the case study provided.

As part of Re-engineering business processes, GBI will need to dismantle its business processes into individual activities and put them back together in new sets of business flows.

a. Identify how processes are dismantled to drive benefits of Business Process Re-engineering

b. Once Business Process Re-engineering is concluded, how might GBI continue to improve its business processes to make it more efficient? (1 Mark)

2-3 paragraph response. Describe two distinct reasons why someone who has never used a drug in his or her life might refuse a test at work. Convert those reasons into well-founded ethical arguments. Meaningful response is needed to at least two of your peers.

Playland at Pacific National Exhibition is an amusement park offering 31 different rides (including 4 rollercoasters and 1 water ride). The guests who are 48” or taller can go on any ride they want and so they get more value from visiting the park; let us say their individual demand is given by P = 5 – 0.25qO, where P is the price per ride ($ per ride) and qO is the number of the rides (per day) (the subscript O stands for “One Day;” that’s how the park calls its passes for the guests who are 48” or taller). The guests who are under 48” are not allowed on certain rides so they get less value from visiting the park; let us say their individual demand is given by P = 4 – 0.25qJ, where P is the price per ride ($ per ride) and qJ is the number of the rides (per day) (the subscript J stands for “Jr. One Day;” that’s how the park calls its passes for the guests under 48”). Assume it costs the park flat ¢25 per guest to operate a single ride, and it costs the park flat ¢75 to issue a single ticket to a ride. Assume there are 500 guests 48” or taller and 500 guests under 48” on an average day. We can consider Playland a monopolist in Vancouver.

If Playland employed a second-degree price discrimination scheme (single ride tickets are issued, each rider receives a book of tickets [qO or qJ]),

10. what would be the size qO of a package for guests 48” or taller (number of rides with a One Day admission)?

11. what would be the price TO of a package for guests 48” or taller ($ for a One Day admission)?

12. what would be the size qJ of a package for guests under 48” (number of rides with a Jr. One Day admission)?

13. what would be the price TJ of a package for guests under 48” ($ for a Jr. One Day admission)? 14. what is Playland’s profit on an average day ($ per day)? Assume zero fixed cost.

Social competence is a complex concept consisting of social, emotional, cognitive and behavioral skills. For example, changing social interactions based on the situational perspective of another individual. Cultural competence enables organizations to work in cross-cultural situations based on skills, attitudes, behaviors and policies. For example, providing health care services that meets all the needs of patients. In 500-750 words, evaluate the importance of scientific inquiry (research) in social and cultural competence. Consider the historical foundations social psychological inquiry has been founded.

Jan 21 A customer who owed $10,000 on an account receivable, agreed to sign a 60-day note receivable with an interest rate of 6.0%. The interest earned on the note will be paid at the maturity date of the note receivable.

Feb 10 Sanford Company sold the note receivable from Jan 21st to the bank, which discounted the note at 8.0%.

Required:

What is the correct journal entry for February 10th and why?

Question Three (3) [20 Marks]

a) The Memorandum of Incorporation (MOI) as well as the Articles of Associations (AOA) serve as
founding documents for a company; describe the purpose as well as differences between each of
these two documents.

b) Describe the process as set out in terms of the Companies Act 28 of 2004 from whence a
company is founded, the founding documents, the parties involved up until the entity is clothed
with legal personality and opens for business.

c) Which parties would actively be involved in the day to day running of a company?