Write TRUE if the statement is TRUE. If the statement is FALSE, write FALSE and explain why

3. The Commissioner of Internal Revenue may prescribe presumptive gross sales and receipts for a taxpayer when the latter fails to issue receipts and when he believes that the books or other records of the latter do not correctly reflect declarations in the return.

4. Jurisdiction is the power and authority of the court to hear, try, and decide a case. It can also refer to territory.

5. The three fundamental powers of the state may be exercised by the government and public service corporations or entities.

4/2

Google provides six tools to use in evaluating the effectiveness of an advertising campaign. Choose three of those six. How would you apply them to a crowdsourcing advertising campaign you are building? How will the tools help you refine your campaign? How you can set goals for the allocation of advertising dollars moving forward based on the data provided? Discuss metrics such as time-on-site, bounce rate, conversion rate, ROAS (return on ad spend) and RPC (revenue per click)

This question covers aspects and integration of personal development planning and data analysis skills towards professional engineering competencies for employability.

Consider the data-set shown in Table 2, which is a subset of employment statistics for the UK from between 2009 and 2018. For the dates specified, the data records an estimate of the number of thousands of engineering professionals, and of IT and Telecommunications professionals, classified according to sex.

Table 2 A subset of employment statistics for the UK from 2009 until 2018

Source: https://www.ons.gov.uk/employmentandlabourmarket/peopleinwork/employmentandemployeetypes/datasets/employmentbyoccupationemp04

• Imagine that you have been invited to a job interview where you will be asked to give a presentation to a non-expert audience. In advance of the interview you are sent the data in Table 2.
  • i.By use of appropriate representation identify and show three significant correlations or trends in the data, and suggest reasons for these trends. Include your representation as part of your answer, together with descriptions of the three correlations or trends you have identified.
  • ii.Comment on the reliability of your observations of the trends in the data.

The Gourmand Cooking School runs short cooking courses at its small campus. Management has identified two cost drivers it uses in its budgeting and performance reports—the number of courses and the total number of students. For example, the school might run two courses in a month and have a total of 50 students enrolled in those two courses. Data concerning the company’s cost formulas appear below: Fixed Cost per Month Cost per Course Cost per Student Instructor wages $ 3,080 Classroom supplies $ 260 Utilities $ 870 $ 130 Campus rent $ 4,200 Insurance $ 1,890 Administrative expenses $ 3,270 $ 15 $ 4 For example, administrative expenses should be $3,270 per month plus $15 per course plus $4 per student. The company’s sales should average $800 per student. The company planned to run three courses with a total of 45 students; however, it actually ran three courses with a total of only 42 students. The actual operating results for September appear below: Actual Revenue $ 32,400 Instructor wages $ 9,080 Classroom supplies $ 8,540 Utilities $ 1,530 Campus rent $ 4,200 Insurance $ 1,890 Administrative expenses $ 3,790 Required: 1. Prepare the company’s planning budget for September. 2. Prepare the company’s flexible budget for September. 3. Calculate the revenue and spending variances for September.

15 a) If a company fails to make an adjusting entry to record supplies expense, then

a. owner's equity will be understated.

b.   expense will be understated.

c. assets will be understated.

d.   net income will be understated.

b. On June 1, during its first month of operations, Brodeur Spa purchased supplies for $4,200 and debited the supplies account for that amount. At June 30, an inventory of supplies showed

$1,000 of supplies on hand. What adjusting journal entry should be made for June?

c1. Trinity College sold season tickets for the 2018 football season for $320,000. A total of 8 games will be played during September, October and November. In September, three games were played. In October, three games were played. What is the balance in Unearned Ticket

Revenue as of October 31 (after adjusting entries has been made)?

c2. Please write the journal entries for the following transactions for Rindler Company for July

2018, the company’s first month of operations. You may omit explanations for the transactions.

a. Rich Rindler invested $38,000 cash to start an appliance repair business.

b.   Hired an employee to be paid $500 per week, starting tomorrow.

c. Paid two years’ rent in advance, $10,800.

d.   Paid the worker’s weekly wage.

e. Recorded service revenue earned and received for the week, $2,900.

Suppose that during a given week, 30 new customers have signed up for a specialized service your company provides. 10 of these new customers are automotive companies, and the remaining 20 are financial services firms. If a random sample of 10 of these new customers will be selected for a study of customer satisfaction in one month, what is the probability that fewer than five of the selected customers are financial services firms?

0.3148

0.3241

0.1688

0.4512

0.7621

The number of arriving customers to a big supermarket is following a Poisson distribution with a rate of 4 customers per a minute.

What is the probability that no customer will arrive in a given minute?

What is the probability that exactly 3 customers will arrive in a given minute?

What is the probability that at least seven customer will arrive in a given minute?

What is the probability that at most one customer will arrive in 40 seconds?

What is the average number of arriving customers in a given one hour?

Read the Case: China’s Managed Float (p. 371) and then click on "Create Thread" to post your answers to the following questions: Why do you think the Chinese government originally pegged the value of the yuan against the U.S. dollar? What were the benefits of doing this to China? What were the costs? What do you think the Chinese government should do? Let the float, maintain the peg, or change the peg in some way?

In 1994, China pegged the value of its currency, the yuan, to the U.S. dollar at an exchange rate of $1 = 8.28 yuan. For the next 11 years, the value of the yuan moved in lockstep with the value of the U.S. dollar against other currencies. By early 2005, however, pressure was building for China to alter its exchange rate policy and let the yuan float freely against the dollar. Underlying this pressure were claims that after years of rapid economic growth and foreign capital inflows, the pegged exchange rate undervalued the yuan by as much as 40 percent. In turn, the cheap yuan was helping to fuel a boom in Chinese exports to the West, particularly the United States, where the trade deficit with China expanded to a record $160 billion in 2004. Job losses among American manufacturing companies created political pressures in the United States for the government to push the Chinese to let the yuan float freely against the dollar. American manufacturers complained that they could not compete against “artificially cheap” Chinese imports. In early 2005, Senators Charles Schumer and Lindsay Graham tried to get the Senate to impose a 27.5 percent tariff on imports from China unless the Chinese agreed to revalue its currency against the U.S. dollar. Although the move was defeated, Schumer and Graham vowed to revisit the issue. For its part, the Bush administration pressured China from 2003 onwards, urging the government to adopt a more flexible exchange rate policy. Keeping the yuan pegged to the dollar was also becoming increasingly problematic for the Chinese. The trade surplus with the United States, coupled with strong inflows of foreign investment, led to a surge of dollars into China. To maintain the exchange rate, the Chinese central bank regularly purchased dollars from commercial banks, issuing them yuan at the official exchange rate. As a result, by mid 2005 China’s foreign exchange reserves had risen to more than $700 billion. They were forecast to hit $1 trillion by the end of 2006. The Chinese were reportedly buying some $15 billion each month in an attempt to maintain the dollar/yuan exchange rate. When the Chinese central bank issues yuan to mop up excess dollars, the authorities are in effect expanding the domestic money supply. The Chinese banking system is now awash with money and there is growing concern that excessive lending could create a financial bubble and a surge in price inflation, which might destabilize the economy. On July 25, 2005, the Chinese finally bowed to the pressure. The government announced that it would abandon the peg against the dollar in favor of a “link” to a basket of currencies, which included the euro, yen, and U.S. dollar. Simultaneously, the government announced that it would revalue the yuan against the U.S. dollar by 2.1 percent, and allow that value to move by 0.3 percent a day. The yuan was allowed to move by 1.5 percent a day against other currencies. Many American observers and politicians thought that the Chinese move was too limited. They called for the Chinese to relax further their control over the dollar/yuan exchange rate. The Chinese resisted. By 2006, pressure was increasing on the Chinese to take action. With the U.S. trade deficit with China hitting a new record of $202 billion in 2005, Senators Schumer and Graham once more crafted a Senate bill that would place a 27.5 percent tariff on Chinese imports unless the Chinese allowed the yuan to depreciate further against the dollar. The Chinese responded by inviting the senators to China, and convincing them, for now at least, that the country will move progressively towards a more flexible exchange rate policy

Read the Case: China’s Managed Float Why do you think the Chinese government originally pegged the value of the yuan against the U.S. dollar? What were the benefits of doing this to China? What were the costs? What do you think the Chinese government should do? Let the float, maintain the peg, or change the peg in some way?

China’s Managed Float

In 1994, China pegged the value of its currency, the yuan, to the U.S. dollar at an exchange rate of $1 = 8.28 yuan. For the next 11 years, the value of the yuan moved in lockstep with the value of the U.S. dollar against other currencies. By early 2005, however, pressure was building for China to alter its exchange rate policy and let the yuan float freely against the dollar. Underlying this pressure were claims that after years of rapid economic growth and foreign capital inflows, the pegged exchange rate undervalued the yuan by as much as 40 percent. In turn, the cheap yuan was helping to fuel a boom in Chinese exports to the West, particularly the United States, where the trade deficit with China expanded to a record $160 billion in 2004. Job losses among American manufacturing companies created political pressures in the United States for the government to push the Chinese to let the yuan float freely against the dollar. American manufacturers complained that they could not compete against “artificially cheap” Chinese imports. In early 2005, Senators Charles Schumer and Lindsay Graham tried to get the Senate to impose a 27.5 percent tariff on imports from China unless the Chinese agreed to revalue its currency against the U.S. dollar. Although the move was defeated, Schumer and Graham vowed to revisit the issue. For its part, the Bush administration pressured China from 2003 onwards, urging the government to adopt a more flexible exchange rate policy. Keeping the yuan pegged to the dollar was also becoming increasingly problematic for the Chinese. The trade surplus with the United States, coupled with strong inflows of foreign investment, led to a surge of dollars into China. To maintain the exchange rate, the Chinese central bank regularly purchased dollars from commercial banks, issuing them yuan at the official exchange rate. As a result, by mid 2005 China’s foreign exchange reserves had risen to more than $700 billion. They were forecast to hit $1 trillion by the end of 2006. The Chinese were reportedly buying some $15 billion each month in an attempt to maintain the dollar/yuan exchange rate. When the Chinese central bank issues yuan to mop up excess dollars, the authorities are in effect expanding the domestic money supply. The Chinese banking system is now awash with money and there is growing concern that excessive lending could create a financial bubble and a surge in price inflation, which might destabilize the economy. On July 25, 2005, the Chinese finally bowed to the pressure. The government announced that it would abandon the peg against the dollar in favor of a “link” to a basket of currencies, which included the euro, yen, and U.S. dollar. Simultaneously, the government announced that it would revalue the yuan against the U.S. dollar by 2.1 percent, and allow that value to move by 0.3 percent a day. The yuan was allowed to move by 1.5 percent a day against other currencies. Many American observers and politicians thought that the Chinese move was too limited. They called for the Chinese to relax further their control over the dollar/yuan exchange rate. The Chinese resisted. By 2006, pressure was increasing on the Chinese to take action. With the U.S. trade deficit with China hitting a new record of $202 billion in 2005, Senators Schumer and Graham once more crafted a Senate bill that would place a 27.5 percent tariff on Chinese imports unless the Chinese allowed the yuan to depreciate further against the dollar. The Chinese responded by inviting the senators to China, and convincing them, for now at least, that the country will move progressively towards a more flexible exchange rate policy