In its largest foreign investment of $5.7 billion, Facebook is taking a 10% stake in Indian telecommunications operator Jio Platforms. The Indian firm’s subsidiary, Reliance, has upended India’s mobile sector by spending billions to build a nationwide 4G network and offer dirt-cheap data plans, which hundreds of millions of poor Indians have used to enter the internet economy for the first time. The union provides Jio with cash, Facebook’s WhatsApp, and access to Facebook’s expertise in reaching consumers and using their information to sell ads.

Q1 -Why does Reliance need Facebook in the Indian digital market?

Q2 - Why does Facebook need Reliance?

Q3 - Is this an alliance of equals or does Reliance risk being squashed by Facebook in the relationship?

C++ DO not use arrays to write this program.

Write a program that repeatedly generates three random integers in the range [1, 100] and continues as follows:

• If the right-most digit of all the three integers is equal, the program displays them in ascending order on the screen and continues. If the generated integers have different right-most digits, they are not displayed and the program continues. The program terminates once the right-most digits of all the three random numbers are equal to 0. For example, assuming:
  • the first three random integers are: 98, 23, 48
  • the second three random integers are: 45, 5, 75
  • the third three random integers are: 4, 95, 33
  • the fourth three random integers are: 11, 61, 21
  • the fifth three random integers are: 100, 20, 40 ---------> The program terminates as all the three numbers end with 0

The output will be:

5, 45, 75

11, 21, 61

20, 40, 100

Please notice that all the numbers are not displayed at the end of the program. Every line is displayed in one iteration and the last line is displayed in the last iteration of your loop.

• If the very first set of numbers generated all end with zero, for example, the first three integers are: 50, 40, 10, after the program shows these three numbers in ascending order, it also displays: "... are your lucky numbers."

So, the output would be:

10, 40, 50 are your lucky numbers.

California College

LIFO Perpetual Inventory

The beginning inventory at Dunne Co. and data on purchases and sales for a three-month period are as follows:

Required:

1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in Exhibit 3, using the last-in, first-out method. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column.

he beginning inventory at Dunne Co. and data on purchases and sales for a three-month period are as follows:

Required:

1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in Exhibit 3, using the last-in, first-out method. Under LIFO, if units are in inventory at two different costs, enter the units with the HIGHER unit cost first in the Cost of Goods Sold Unit Cost column and LOWER unit cost first in the Inventory Unit Cost column

A new client, an oil and gas explorer in Western Canada, is currently negotiating a loan worth $3 million to avoid defaulting on its long-term debt that is due in three months. Its latest quarterly earnings report indicate that the entity has a working capital deficiency of $500,000, while its cash balance fell to $250,000, down from $500,000 a year earlier. There is a 0.5:1 current ratio. With little expectation of improved sales, the entity plans to cut back on production to preserve cash. It has also been paying suppliers late consistently, and some suppliers have begun demanding cash on delivery from the client. As a result, the share price has plunged and the entity has lost more than half of its market value in the last week. Which of the following conditions in this case may cast doubt on the client’s ability to continue as a going concern?

A. Declining ratios

B. Long-term loans reaching maturity without alternative financing in place

C. Prolonged losses

D. An inability to pay debts when they fall due

E. Supplier reluctance to provide goods on credit

F. The loss of a major market, key customer, franchise, or licence

G. Overreliance on a few customers or suppliers

H. Shortage of a key input or raw material

I. Rapid growth with insufficient planning

J. Falling behind competitor

The following trial balance has been extracted from the books and records of Carpets R Us Limited, a registered company, on the 30^th September 2019:

Additional information is:-

• Inventory at 30^th September 2019 was valued at £54,200.

• Depreciation is to be provided on a 20% reducing balance basis for the year for motor vehicles and 10% straight line basis for fixtures and fittings.
• Rent & insurance contains an invoice for £1,200 for the quarter ending 31^st November 2019.

• Provision is to be made for an audit fee of £2,500 and a director’s fee of £18,250. These amounts were calculated after the year end but related to this year.

• The directors have identified one customer who owes them £1,500 who has been declared bankrupt; the company is unlikely to receive any money.

• Corporation tax is charged at £44,887.
• The directors propose an ordinary dividend of 10 pence per ordinary share to include the interim dividend paid.

Required:

Using international accounting standards (IAS) produce the following financial statements: (A cash Flow Statement is not required)

1. The statement of profit or loss for the year ended 30^th September 2019.

[6 marks]

2. The statement of changes in equity for the year ended 30^th September 2019.

[6 marks]

3. The statement of financial position as at that date.

[13 marks]

4. All your workings as notes to the accounts.

[25 marks]

You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door opening device. The president has asked that you review the company’s costing system and “do what you can to help us get better control of our manufacturing overhead costs.” You find that the company has never used a flexible budget, and you suggest that preparing such a budget would be an excellent first step in overhead planning and control.

After much effort and analysis, you determined the following cost formulas and gathered the following actual cost data for March:

During March, the company worked 16,000 machine-hours and produced 10,000 units. The company had originally planned to work 18,000 machine-hours during March.

Required:

1. Calculate the activity variances for March.

2. Calculate the spending variances for March.

A monopolist is using third-degree price discrimination. Which of the following statements are true?

        I.            If a monopolist can use either the first-degree price discrimination or the third-degree price discrimination, then using third-degree price discrimination results in strictly higher profit than using first-degree price discrimination.
      II.            A monopolist using third-degree price discrimination needs to know the willingness to pay of different groups of consumers
    III.            Student discounts are an example of third-degree price discrimination

Group of answer choices

Which of the statements about the short-run are true?

I. Average fixed cost is always declining
II. Because of diminishing marginal product, average variable cost is eventually upward-sloping
III. When marginal cost is below the average total cost, the average total cost is falling as quantity increases

Group of answer choices

only I and II are true

None of the other answers is correct

I, II, and III are true

only I and III are true

only II and III are true

Consider a monopolist facing a demand curve of P = 100 – 20q, where P is market price and q is quantity. The monopolist has a constant marginal cost curve of $50 per unit. What is the monopolist’s marginal revenue curve (MR)?

Group of answer choices

MR = 100 – 40q

MR = 100 – 20q

None of the other answers is correct

MR =200 – 20q

MR = 50

Sirens wailing, a black government car pushes through the traffic, past the beggars and street vendors, up a potholed road. Vehicles like these, the perks of a growing number of political appointees, are a common sight in Accra—and a source of popular outrage. Since Nana Akufo-Addo took office as president in January 2017 the number of government ministers has soared by 42% to 125, each with a car, guards and a taxpayer-funded home.

Outside Ghana Mr Akufo-Addo has been hailed as a hero. When he was sworn in, it was as if he was a passenger in a plummeting aeroplane who had just been handed the controls. His predecessor, John Mahama, had taken a high-flying economy—growth was 17% in 2011 thanks to the first production of oil from its Jubilee Field—and promptly put it into a nose-dive. Under Mr Mahama inflation soared, the economy slowed and public debt ballooned, with much of the borrowed money squandered on higher wages for public employees.

After taking the controls Mr Akufo-Addo said he would deliver “Ghana Beyond Aid”. He swiftly imposed discipline on government spending (new ministers notwithstanding). Fifty-three years after the imf first bailed out Ghana, the 16th rescue package for the country ended in April. The fund now praises the government’s economic management. A glowing staff report said Ghana had tamed inflation (which fell back to 9% this year after reaching 17% in 2016). It also won acclaim for cleaning up rotten banks and achieving a budget surplus (before interest payments).

Yet the praise should be tempered. Some 3.1m people, or about one-tenth of the population, live on less than $1.90 per day, the World Bank’s measure of extreme poverty. It has been a stubborn problem. Although Ghana cut its poverty rate in half in the 20 years to 2013, most of that progress occurred in the 1990s, when it fell by almost two percentage points a year. Since 2006 progress has slowed to about one percentage point per year.

Many of the government’s flagship investment programmes have been sunk by mismanagement. One especially embarrassing example is that of the Komenda Sugar Factory, which was built three years ago with a loan from the Indian government, and which was supposed to provide more than 7,000 jobs. Yet it is idle because it does not have any sugar cane to process. In all about one-third of infrastructure projects in Ghana are never finished.

Worse still, many were paid for with borrowed money. A rebasing of gdp last year has flattered the country’s balance-sheet. Ghana’s debt-to-gdp ratio, which hit 73% in 2016, looks quite tame this year at 62% (it would have been 76% under the old gdp measure).

But simply changing the estimated size of the economy does not magically bring in more tax. Interest payments still consume one-third of government revenues, which is more than it spends on education or health. Increasing the amount raised in taxes will be tough, because most of the economy is informal. The imf notes that taxes make up a smaller share of gdp (14% in Ghana) than in most other developing countries and classifies it as being at “high risk of debt distress”.

Investors are also wary and demand much higher interest rates to hold Ghana’s foreign-currency bonds compared with Nigeria’s or Kenya’s. One reason is that they worry the government will start spending freely ahead of elections in 2020, as governments often have in the past. Gregory Smith of Renaissance Capital, a bank, points out that budget deficits were almost one percentage point of gdp higher in each of the seven election years since 1990 than in non-election years. The trend has accelerated: in 2012 and 2016 deficits ballooned by almost three percentage points of gdp.

Mr Akufo-Addo won the election in 2016 with the preposterous promise of a factory in every district. This time he might do better by breaking the old pattern of running up debts before an election, only to turn to the imf afterwards for another bail-out.

____________

This questions is based on the article above, "After its 16th bail-out, Ghana hopes to put the IMF behind it," published by The Economist on June 22, 2019. The article discusses the political economy of fiscal expenditure in Ghana.

Based on the discussion in the article, has the government of Ghana been spending its budget effectively to promote the economic growth of the country since 2017 when Nana Akufo-Addo became president? How does the Akufo-Addo administration compare with its predecessor in terms of fiscal policy efficiency? Please explain and provide examples or quotations from the article to back up your argument.