Assume the annual “profits” earned by mutual funds have a normal distribution with a mean of 8.6% and standard deviation 5.2%.

A. What is the probability a randomly selected mutual fund will have earned a positive profit?

B. What percent of mutual funds earned a profit between 2% and 18%?

C. The top 4% of mutual funds receive a AAA performance rating. What level of profit is needed to earn a AAA rating?

Ahmad choosing between two goods, X and Y, and your marginal utility from each is as shown in the table below. If your income is $12and the prices of X = $2 and price of Y is $2.

1. What quantities of X and Y should be purchased to maximize utility?

2. What total utility will the consumer realize at these quantities founded in part 1?

3. Assume that, other things remaining unchanged, the price of Y falls to $1. What quantities of X and Y will you now purchase to maximize utility?

4. Using the two prices and quantities for good Y, derive a demand schedule for good

1.The Thule Society was German occultist and völkisch group founded in Munich right after WW I, and was later taken over by Adolf Hitler and the Nazis. TRUE OR FALSE

2.The Beer Hall Putsch (also called the Munich Putsch) of November, 1923 was the very, very successful coup by Nazi leader Adolf Hitler and others, to seize power in Munich, Bavaria with the eventual goal of overthrowing the Weimar Republic in Berlin.TRUE OR FALSE

3.Shark Island, located just off the western coast of Namibia in Southwestern Africa, was used during the early 20th Century by the German Empire as a concentration camp. TRUE OR FALSE

4.The National Socialist Germany Workers’ Party (sometimes abbreviated NSDAP in German) is commonly referred to in English as the Nazi Party. TREU OR FALSE

5.Although the use of airplanes during WWI was minimal, under the terms of the Treaty of Versailles Germany was forbidden from reestablishing and maintaining an air force. TRUE OR FALSE

I.  Evidence should be relevant and reliable to be appropriate.  Define the terms “Relevance” and

         “Reliability”.

   II.  For each situation presented below, indicate which means of gathering evidence would be

         considered more reliable (#1 or #2) AND indicate a reason from the following list:

      A. Independent source of the information (Independence of provider);

      B. auditor’s direct knowledge;

      C. Knowledgeable source (qualifications of individual providing the information);

      D. degree of objectivity versus subjectivity; and

      E. Functioning system of internal controls.

   DO NOT DISCUSS your answer.  CHOOSE ONLY ONE LETTER.

a. 1 The auditor relies on an analysis prepared by the controller of gross margin to sales for the current

       and prior periods.; or (2)  The auditor calculates gross margin to sales and compares to similar data

       for prior periods .

b.  The auditor considers evidence relating to 1. The estimate of bad debts expense; or 2. The cost of

      land acquired five years ago.

c.  Evidence involving audit judgement is considered by a member of the audit team.  The individual is

     1.  An intern; or 2.  The audit senior assigned to the engagement.

d. Auditor tests two segments of the company.  (1) In the first segment, the auditor assesses control risk at .20; or (2) In the second segment, the auditor assesses control risk at .40.

Learning objective: Improve understanding of contingency leadership theory

Process:

Suppose that you are a leader of a team in a company.

1. Team members are working together for the first time and are eager to begin, but they lack the experience and confidence needed to perform their roles. They are not familiar with individual and team goals and tasks yet.
2. The members have begun working together and, as typically happens, are finding that their work is more difficult than they had anticipated. They also want to determine task assignment and roles of members more clearly. They begin to share their views on tasks even if it is hard to reach an agreement due to conflicting views on how to proceed the team project.
3. The members realize that it is important to work together and begin to be more cooperative to each other. They understand most of team tasks and goals. They voice their views more actively. However, they still need some support from you to perform their tasks.
4. The members have good understanding of individual tasks and team tasks. They are familiar with how they can accomplish team goals successfully and collectively work together well. They also have most information and knowledge to effectively perform their job.

Q. Drawing on contingency theory of leadership and four leadership behavior (telling, selling, participating, and delegating), identify the optimal leadership behavior for each of the situational contingencies above and justify your choice.

Read the extract below and answer the questions that follow. [20 marks] Steinhoff Accounting Scandal The Steinhoff accounting scandal has raised concern on a number of levels, from the quality of corporate governance to checks and balances in the investment management business and even race relations in SA, writes Legalbrief. Two separate articles on The Conversation site explore the gaps exposed by Steinhoff’s fall from grace and also the lessons to be learnt from the debacle that threatens to wipe out billions of rand belonging to SA investors. Interviewed in the first piece, Jannie Rossouw, head of the School of Economic & Business Sciences at Wits University, notes: ‘The Steinhoff scandal is disturbing because it points to a serious gap in the checks and balances in the investment management space. A scandal of this magnitude should not have occurred if the systems with their multiple layers were working. This includes auditors, asset managers and non-executive directors who in their different roles should ensure that the company’s accounts are as close to the truth as possible.’ Rossouw asks why most fund and asset managers in SA and across the globe, which draw enormous fees, failed to pick up the alleged irregularities. He notes that every time a major scandal surfaces, regulatory gaps are identified and new measures are put in place to plug the apparent holes. But the scandals keep coming. He notes, however, that it’s impossible to regulate for integrity and ethical behaviour. ‘The one effective way that behaviour can be changed is through legal process and by means of tough punishment.’ The scandal would do SA a huge service if it made the point that corruption and mismanagement have nothing to do with race, Steven Friedman, professor of political studies at the University of Johannesburg, notes in a second article on The Conversation site. Friedman says it would also help if it alerted everyone in the marketplace to watch as carefully over private companies as they do over government MODULE BUSINESS AND SOCIETY TOTAL MARKS 20 MARKS departments. He writes: ‘But, given how entrenched racial attitudes are, it is more likely that it will be dismissed as a once-off freak by those who assume that white-led business is always competent and as further evidence of white prejudice by black people reacting to the label often stuck to them. If that happens, some private businesses will continue to get away with behaviour which would never be tolerated in government.’ Steinhoff’s woes continue to pile up. A Fin24 report says Steinhoff International Holdings, the group’s Amsterdam-registered parent company, announced last week in an investor update that more of its already-published financial results would need to be restated and could not be relied on. Steinhoff last month said that its 2017 audited results had been put on hold while PwC conducts an independent investigation into ‘accounting irregularities’. It has also previously warned investors to not rely on the figures contained in its 2016 results. Last week, it added the 2015 financial results of Steinhoff International Holdings Propriety Limited, the conglomerate’s former listed umbrella holding company, could not be relied on. The former Steinhoff CEO Markus Jooste left his mentor and business partner Christo Wiese on the hook for more than R200m is mentioned to a great detail in a Moneyweb report. It says the papers filed before the Western Cape High Court last month by Absa bank to have Jooste’s Mayfair Speculators liquidated reveal how he removed nearly all the assets from the company before leaving Wiese on the hook for more than R200m. The report notes that in December 2016, Mayfair, represented by Jooste’s son-in-law Stefan Potgieter, and Absa concluded a financing arrangement, which saw the bank providing Mayfair with an overdraft facility amounting to R335.6m and bank guarantees of a further R14.4m (in total R350m). Matter unravelled quickly following the upheaval on 6 December last year, when Jooste resigned as CEO. The Steinhoff share price collapsed, leaving Mayfair in breach of its loan agreement. Moneyweb says the court papers reveal that Upington Investment Holdings, Wiese’s investment vehicle for his share in Steinhoff, stood behind any and all Mayfair’s obligations up to R350m.

Source: (legalbrief.co.za/diary/legalbrief-forensic/story/steinhoff-scandal-raises-thorny.../pdf/date of accession July 30th 2019)

Question1
Does the Steinhoff case represent a failure in terms of Corporate Governance? Explain.

Question 2
Define Corporate Governance. Elaborate on the measures to prevent fraud in line with the Sarbanes-Oxley Act.

Question 3

Mention the recommendations for improving the system of setting compensation levels in
companies.

The transactions of Spade Company appear below.

1. Kacy Spade, owner, invested $16,000 cash in the company in exchange for common stock.
2. The company purchased office supplies for $464 cash.
3. The company purchased $8,848 of office equipment on credit.
4. The company received $1,888 cash as fees for services provided to a customer.
5. The company paid $8,848 cash to settle the payable for the office equipment purchased in transaction c.
6. The company billed a customer $3,392 as fees for services provided.
7. The company paid $525 cash for the monthly rent.
8. The company collected $1,425 cash as partial payment for the account receivable created in transaction f.
9. The company paid $1,100 cash in dividends to the owner (sole shareholder).

Required:
1.Prepare general journal entries to record the transactions above for Spade Company by using the following accounts: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts Payable; Common Stock; Dividends; Fees Earned; and Rent Expense. Use the letters beside each transaction to identify entries.
2. Post the above journal entries to T-accounts, which serve as the general ledger for this assignment.

The transactions of Spade Company appear below. Kacy Spade, owner, invested $11,250 cash in the company in exchange for common stock. The company purchased office supplies for $326 cash. The company purchased $6,221 of office equipment on credit. The company received $1,328 cash as fees for services provided to a customer. The company paid $6,221 cash to settle the payable for the office equipment purchased in transaction c. The company billed a customer $2,385 as fees for services provided. The company paid $530 cash for the monthly rent. The company collected $1,002 cash as partial payment for the account receivable created in transaction f. The company paid $1,200 cash in dividends to the owner (sole shareholder). Required: 1. Prepare general journal entries to record the transactions above for Spade Company by using the following accounts: Cash; Accounts Receivable; Office Supplies; Office Equipment; Accounts. Payable; Common Stock; Dividends; Fees Earned; and Rent Expense. Use the letters beside each transaction to identify entries. 2. Post the above journal entries to T-accounts, which serve as the general ledger for this assignment.

•       Ringtone and Phones-R-Us are both successful companies in the cellular phone retail sales business. On the one hand, Phones-R-Us pursues a low-cost strategy and has fairly high employee turnover rates. The firm relies on a high volume of phone sales to generate revenue. On the other hand, Ringtone pursues a competitive advantage based on customer intimacy and has very loyal employees. Ringtone sells expensive, high-quality phones and relies on its employees to provide high-quality customer service to generate sales.

•       The sales representative for both companies “bring in the bacon.” As such these people are a key factor to the firms’ success. How should each company source recruits for the position?

Hello, so for a project in management accounting we were assigned a fake kayak selling/renting company that opporates in new england. The project gave us 1,000 to invest in expansion and the locations we chose are newburyport MA, new London County CT, Pawtucket RI, and South Portland ME. We decided to invest the million on propertys in these locations however our professor wants us to calculate the ROI on these investments somehow with only using internet sources so I don;t actually know how to do that.

Please tell me what the potential revenue could be and the ROI based on data about kayak sales found anywhere on the internet. Thank you.