Compare and Contrast Earned Value Management with Financial Management Responsibilities

Assume that you are writing an application that will calculate the amount of interest earned for a bank account. a) Identify the potential classes in this problem domain. b) Refine the list to include only the necessary class or classes for this problem. c) Identify the responsibilities of the class or classes. d) Design the UML diagram.

Determine the amount of interest that will be earned on each of the following investments: (Round answers to 2 decimal places, e.g. 15.25.)

2, Interest earned on the cash balance in the bank is recorded by the bank as:

Multiple Choice

• An increase in the bank’s asset account.

• A decrease in the bank’s asset account.

• A decrease in the depositor’s bank account.

• An increase in the depositor’s bank account.

• An increase in the bank’s expense account.

3, Which of the following events would cause a bank to reduce a depositor's account?

Multiple Choice

• The depositor orders new checks through the bank at a cost of $50.

• The bank collects a note receivable and related interest on the depositor's behalf.

• There are outstanding checks drawn on the account at month-end.

• There are deposits in transit on the account at month-end.

• The bank corrects an error from previous month by adding $75 to the depositor account.

4,

Wilson Co. set up a petty cash fund for payments of small amounts. The following transactions involving the petty cash fund occurred in May.
  

• Requirement
• General Journal
• General Ledger
• Trial Balance
• Impact on Income

Indicate the impact each transaction had on net income.  Decreases to net income should be indicated with a minus sign.

Dates:

May 01

to:

May 31

A study is conducted to survey (in thousands) of earned degrees in the United States in a recent year. The table is given below.

a) If one person is randomly selected, find the probability that this person is a female.      

  b)  If one person is randomly selected, find the probability that this person has a bachelor degree and is a male.   

  c)   If one person is randomly selected, find the probability that this person has an AA degree.  

d) If one person is randomly selected, find the probability that this person is a female, giventhat the person received an AA degree.

e) If one person is randomly selected, find the probability that this person has a master degree or is a female.

f) Are the events “female” and “AA degree” independent? Why or why not? Use the answers from a) and d) above to explain this.

g) If two people are randomly selected, find the probability that these two people are males.

Case-1

In 1920, there was considerable debate regarding how much the US government should intervene in the economy. US citizens, for example, were concerned about the future of an American car brand, Chevrolet, which was included in the failing General Motors. While some people wanted the government to ensure that their jobs were safe, others were concerned that the government was intervening too much. It should be noted that from World War I, the US government has considered itself a mediator regarding problems in the market while avoiding controlling aspects of the economy. For example, the US government regulated anti-competitive behaviour while avoiding running several industries. On the other hand, when the 1925 recession took place and the economy began to shrink, the government had to stimulate demand for which it started spending more and intervened significantly so that the banking sector could be saved from collapsing. Moreover, the US government had to provide businesses with aid to sustain them.

Questions: [ Student has to write answer at least 125 words for each sub-question]


i) Analyse the possible benefits of a government intervention in an economy? .






ii) Which economic system ensures complete freedom for individuals in economic activities? What are the benefits of freedom of individuals in an economy?









iii) Compare the economic system of Oman with that of USA in terms of social welfare and competitiveness.

Myth of income inequality in US

Although US is the largest economy in the world, some says it is one of the worst income inequal countries among the industrialized countries and Income inequality in US is not improving.

Q1) Does this claim have any truth in it? If so, discuss it with specific economic data. Do you think Trump tax cut actually contributed to more income inequality? Do you agree or not?(0.5 point)

Q2) Some says “ In US, the upper class is doing better, the middle class is disappearing and more people are living under poverty.”

If so, what is the social, economic and psychological consequence from growing income inequality? (0.5 point)

Q3) Some says US government should do something to reduce the gap between the poor and the rich? Do you agree or not? (0.5 point)

Q4)If so, is it a good idea to raise more tax from the wealthy and provide more welfare safety nets to the poor, or increase of minimum wage , or free higher education with Government subsidy, or universal basic income? (0.5 point)

Q5) Is any better idea of government policy over this matter? since middle class struggles with heavier consumer debt due rising rent cost, medical cost, and education cost, and job insecurity due to automation. (0.5 point)

Mexico tends to have much higher inflation rate than the United States and also much higher interest rate than the United States. Inflation and interest rates are much more volatile in Mexico than in industrialized countries. The value of the Mexican peso is typically more volatile than the currencies of industrialized countries from a US perspective; it has typically depreciated from one year to the next, but the degree of depreciation has varied substantially. The bid/ask spread tends to be wider for the peso than for currencies of industrialized countries.

1. Identify the most obvious economic reason for the persistent depreciation of the peso.

2. High interest rates are commonly expected to strengthen a country’s currency because they can encourage foreign investment in securities in that country, which results in the exchange of other currencies for that currency. Yet, the peso’s value has declined against the dollar over most years though Mexican interest rates are typically much higher than US interest rates. Thus, it appears that the high Mexican interest rates do not attract substantial US investment in Mexico’s securities. Why do you think US investors do not capitalize on the high interest rates in Mexico?

3. Why do think the bid/ask spread is higher for pesos than for currencies of industrialized countries? How does this affect a US firm that does substantial business in Mexico?

Daughter furnished $20,000, and the descedent furnished $60,000 to acquire the stock, costing $80,000. The $20,000 provided by the daughter was interest income earned from other property she originally received as a gift from her father. The stock had a date of death value of $100,000. What would be included in father's gross estate if he died first?