1. How many total local governments does Texas have: A. 254 B. 900 C. 1200 D. 5,147
2. In the American federal system, states possess police powers, the authority to regulate: A. International trade B. Currency C. Immigration D. Health, safety, and morals
3. Constitutionally, municipalities and local governments are: A. creatures of the nation B. Creatures of the state C. Independently sovereign entities D. Confederal
4. Which of the following words describes the relationship between state and local governments? A. Unitary B. Federal C. Dual D. Independent
5. The HCC system is an example of a: A. Multi purpose governing unit B. Independently sovereign entity C. Limited purpose governing district D. General law municipality
6. Which of the following does your textbook argues is the most visible example of a general purpose government? A. Cities B. Independent school districts C. Emergency services districts
D. The port of Houston authority
7. The process for establishing a city is called: A. establishment B. Ordination C. Incorporation D. Settlement
8. The purpose behind having a city manager is to ____ the running of city government. A. Politicize B. Bureaucratize C. Professionalize D. Stabilize
9. What powers does a strong mayor have that a weak mayor lack? A. Can appoint an remove heads of departments B. Has control over budget formation and execution C. Can veto actions of the city council D. All of the above
10. Why are turnout races in local elections so low? A. They tend to be held in odd numbered years B. They are often held in May C. They are often uncontested D. All of the above
11. All but Which of the following is a service provided by local governments. A. Water supply B. Sewage disposal C. Highway construction D. Building code enforcement
12. What percentage of Texans live in the 10 largest counties? A. 15% B. 27% C. 43% D. 59%
13. What percentage of Americans contribute to a political candidate or party? A. 16% B. 26% C. 36% D. 46%
14. According to your textbook, which of the following is the most common type of activist? A. Campaigners B. Complete activists C. Inactives D. Communalists
15. Which of the following criteria does the US Constitution does prohibit states from using in denying the right to vote? A. Failure to pay a poll tax B. Failure to register to vote C. Race D.gender
16. Texans must register to vote: A. At least 30 days prior to an election B. At least 15 days prior to an election C. The same day as the election D. Texas does not have voter registration requirements
17. Which of the following is not a reason why someone can be denied the right to vote in an election in Texas? A. They are not U.S citizens B. They have committed a felony C. They do not live in Texas D. They have been declared mentally incapacitated
18. Approximately what percentage of Texans vote in presidential elections? A. 30% B. 40% C. 50% D. 60%
19. Approximately what percentage of Texans vote in mid term elections? A. 30% B. 40% C. 50% D. 60%
20. Where does Texas rank in terms of voter turnout? A. At the top B. Above average C. Average D. Near, or at the bottom
21. The poll tax in Texas originally targeted A. Pollsters B. The wealthy C. Low income white farmers D. Women
22. Since 1972, Texas has had _____ registration A. Annual B. Bi annual C. Permanent D. No
23. The laws that regulate elections in Texas are contained in the A. United States Constitution B. United States Elections Code C. City Charters D. Texas election code
24. Which two parties have qualified as minor parties in recent elections? A. The Green and Libertarian Parties B. The Democratic and Republican Parties C. The Socialist and Communist Parties D. Trick question: there are no minor parties in Texas
25. A major party in Texas must select its nominees in a A. Party caucus B. Primary election C. Party convention D. Party lottery
26. The courts have ruled that parties are not _____ and their actions are subject to control by state law. A. Public organizations B. Private organizations C. Limited liability corporations D. Non-profits organizations
27. Who ultimately makes the decision to run for public office? A. Party leaders B. The governor C. The candidate D. The president
28. Primary elections are administered by A. The national party B. The local party C. The county government D. The municipality
29. By Texas law, special elections can be held in A. January B. May C. August D. All three months
30. What is the final process in amending the Texas Constitution? A. The signature of the governor B. The approval of the president C. A Majority of the Texas electorate D. Trick question: the Texas Constitution cannot be amended
31. Your textbook argues that 30 and 40 years ago, ______ were rarely a facet of state and national politics. A. Social issues. B. Economic issues C. Tariffs D. Foreign affairs
32. Texas campaigns until the 1920s focused on A. The Civil War B. International commerce C. Local affairs D. Relations with Mexico
33. Which of the following is a key factor in the increased costs of campaigns? A. Media advertisement B. Professional consultants C. Full time paid staff D. All of the above
34. Most of the money spent in political campaigns come from A. The national government B. Business PACs C. Small donations of less than $250 D. Labor unions
35. What is the limit on PAC contributions in statewide races in Texas? A. $500 B. $500 per candidate C. $5,000 per candidate, but they must be in the same party D. No limit
36. According to your textbook, a political party is an organization that acts as _____ between the people and government. A. An Intermediary B. A facilitator C. A filter D. An umpire
37. The principle goal of a political party is to A. Serve then interests of all the people B. Expand the electorate C. Make it easier for people to vote D. Have it’s members elected to office
38. What factors, according to your textbook, have been central in the development of political parties in this country. A. They are expedient and useful B. They are mandated in the US and Texas Constitutions C. They are the only political organizations allowed by law D. Membership in political parties is a requirement in order to vote in elections
39. The divisions between the first two major parties in the US centered on all but which of the following issues? A. Slavery B. The proper role of the federal government with the states C. Financial policy D. Foreign affairs
40. According to your textbook, parties in the United States consist of coalitions of A. State parties B. Business groups C. Local party machines D. Elites
41.Most candidates within parties _____ to run for office A. Are recruited B. Self select C. Are required D. Re chosen by a lottery
42. Politics was primarily _____ from the 1790s to the 1970s. A. Capital intensive B. Ideological C. Labor intensive D. Media driven
43. In party machines, candidates for office were selected by A. The governor B. The president C. Candidates themselves D. Party leaders
44. Which of the following people, according to your textbook, was a “kingmaker” in Texas politics from the 1890s until the early 20th Century? A. Colonel Edward House B. Sam Houston C. Jesse Jones D. Lyndon Johnson
45. During the 19th Century, when Local and state parties were powerful, their power rested at least partially on A. Their control over campaign funding B. Their control over the distribution of government jobs and contracts C. Their ability to print ballots D. All of the above
46. Among the factors that have weakened parties in the 20th century are A. Candidates selecting themselves to run for office B. Candidates running their own campaigns C. The rise of PACs D. All of the above
47. All but which of the following is an example of capital intensive politics. A. Online advertising B. Polling and survey research C. Television advertising D. Political rallies
48. All but which of the following weakened the power of parties during the progressive era. A. The use of the anonymous ballot B. The rise of the civil service system C. The use of the primary election to determine party candidates D. The creation of cities
49. Your textbook suggests that the United States has a A. 2 party national system B. 50 state party system C. 2 party state system D. 1 party national system
50. In Texas, the _____ dominated state politics for roughly 100 years following Reconstruction. A. Populist Party B. Republican Party C. Democratic Party D. Peoples’ Party
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The stock of United Industries has a beta a 1.14 and an expected return of 11.2. The risk-free rate of return is 4 percent. What is the expected return on the market?
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In: Operations Management
Take a look at UPS (United Parcel Service). Briefly Research and analyze the companies; ·
Goals ·
Strategies for achieving goals
· How company integrates and coordinates activities
In: Economics
In: Operations Management
What are the current practices and procedures for translation of financial statements in the United Kingdom? Visit the Institute of Chartered Accountants in England and Wales’ website to start your research.
In: Accounting
Question 2
On January 1, 2015, Portia Ltd. issued shares worth $1,120,000 to Storm Ltd. to acquire 80% of Storm’s outstanding shares. On the acquisition date, Storm’s statement of financial position shows share capital of $420,000 and retained earnings of $777,000. At the acquisition date, all of Storm’s identifiable assets and liabilities equaled their fair values with the exception of the following:
Inventories (fair value exceeded book value by $14,000)
Investments (fair value exceeded book value by $14,000)
Equipment (fair value exceed net book value by $105,000)
At the acquisition date, Storm’s accumulated amortization account for the equipment had a balance of $805,000. As of the acquisition date, Storm’s equipment had a remaining useful life of 10 years.
Additional information:
Portia records its investments using the cost method.
Portia uses the entity theory method of consolidation.
In 2017, Portia sold all its investments for a gain of $63,000.
In 2018, Portia purchased equipment from Storm for $127,400. At the sale date, Storm’s net book value of the equipment was $98,000. Storm had originally purchased the equipment for $140,000. After the purchase, Portia amortized the equipment at a rate of $18,200 per year for the remaining 7 years of its useful life, taking a full year of amortization in 2018.
During 2019, Storm purchased goods from Portia. At the end of 2019, Storm still had $28,000 of these goods in inventory. Portia had earned a gross margin of 40% on the sale. The goods were sold to external customers in 2020.
During 2019, Portia purchased goods from Storm. At the end of 2019, Portia still had $140,000 of these goods in inventory. Storm had earned a gross margin of 40% on the sale. The goods were sold to external customers in 2020.
During 2020, Portia sold goods of $140,000 to Storm. Portia earned a gross profit of $56,000 on this sale. At the end of 2020, Storm still had $56,000 worth of goods in inventory.
During 2020, Storm sold goods of $980,000 to Portia at a gross margin of 40%. At the end of 2020, Portia still had 10% of the goods in inventory.
During 2020, Portia received $126,000 in royalties from Storm. Between January 1, 2015 and December 31, 2019, Portia received $700,000 in royalties from Storm.
The financial statements for Portia and Storm for the year ended December 31, 2020 are presented on the following pages.
Statement of Financial Position
As of December 31, 2020
Portia Ltd. Storm Ltd.
Assets:
Current assets:
Cash $ 70,000 $ 28,000
Accounts receivable 210,000 224,000
Inventory 252,000 140,000
532,000 392,000
Noncurrent assets:
Land 140,000 -
Equipment 7,000,000 3,780,000
Accumulated amortization, equipment (2,478,000) (1,736,000)
Investment in Storm 1,120,000 ____-___
5,782,000 2,044,000
Total assets $ 6,314,000 $ 2,436,000
Liabilities and shareholders’ equity:
Current liabilities:
Accounts payable $ 630,000 $ 280,000
Noncurrent liabilities:
Loan payable 420,000 700,000
1,050,000 980,000
Shareholders’ equity:
Share capital 1,680,000 420,000
Retained earnings 3,584,000 1,036,000
5,264,000 1,456,000
$ 6,314,000 $ 2,436,000
Condensed Statement of Comprehensive Income
For the year ended December 31, 2020
Portia Ltd. Storm Ltd.
Revenue:
Sales $ 2,804,200 $ 2,100,000
Royalties 210,000 -
Dividends 100,800 ____-___
3,115,000 2,100,000
Expenses:
Cost of sales 1,680,000 1,260,000
Other 784,000 575,400
2,464,000 1,835,400
Net and comprehensive income $ 651,000 $ 264,600
Statement of Changes in Equity – Retained Earnings Section
For the year ended December 31, 2020
Portia Ltd. Storm Ltd.
Retained earnings, beginning of the year $ 3,353,000 $ 897,400
Net income 651,000 264,600
Dividends declared (420,000) (126,000)
Retained earnings, end of year $ 3,584,000 $ 1,036,000
Required:
Prepare Portia’s consolidated financial statements for the year ended December 31, 2020. Be sure to show all your supporting calculations.
In: Accounting
On June 15, 2018, Sanderson Construction entered into a long-term construction contract to build a baseball stadium in Washington, D.C., for $260 million. The expected completion date is April 1, 2020, just in time for the 2020 baseball season. Costs incurred and estimated costs to complete at year-end for the life of the contract are as follows ($ in millions):
| 2018 | 2019 | 2020 | |||||||
| Costs incurred during the year | $ | 60 | $ | 80 | $ | 65 | |||
| Estimated costs to complete as of December 31 | 140 | 60 | — | ||||||
Required:
1. Compute the revenue and gross profit will
Sanderson report in its 2018, 2019, and 2020 income statements
related to this contract assuming Sanderson recognizes revenue over
time according to percentage of completion.
2. Compute the revenue and gross profit will
Sanderson report in its 2018, 2019, and 2020 income statements
related to this contract assuming this project does not qualify for
revenue recognition over time.
3. Suppose the estimated costs to complete at the
end of 2019 are $110 million instead of $60 million. Compute the
amount of revenue and gross profit or loss to be recognized in 2019
using the percentage of completion method.
Required 1
Required 2
Required 3
Compute the revenue and gross profit will Sanderson report in its 2018, 2019, and 2020 income statements related to this contract assuming Sanderson recognizes revenue over time according to percentage of completion. (Enter your answers in millions. Loss amounts should be indicated with a minus sign. Use percentages as calculated and rounded in the table below to arrive at your final answer.)
Compute the revenue and gross profit will Sanderson report in its 2018, 2019, and 2020 income statements related to this contract assuming Sanderson recognizes revenue over time according to percentage of completion. (Enter your answers in millions. Loss amounts should be indicated with a minus sign. Use percentages as calculated and rounded in the table below to arrive at your final answer.)
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Compute the revenue and gross profit will Sanderson report in its 2018, 2019, and 2020 income statements related to this contract assuming this project does not qualify for revenue recognition over time. (Enter your answers in millions. Loss amounts should be indicated with a minus sign.)
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Suppose the estimated costs to complete at the end of 2019 are $110 million instead of $60 million. Compute the amount of revenue and gross profit or loss to be recognized in 2019 using the percentage of completion method. (Enter your answers in millions. Use percentages as calculated and rounded in the table below to arrive at your final answer.)
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In: Accounting
3a) Let ?={????:0≤?≤?}. How many of the following strings are in ?∗?
?,??????,????,???,????,????,?????,????
3
4
5
6
b)
Let ? be any NFA with a single final state. If we convert ? into a right-linear grammar ?, the number of production rules in ? will be equal to
number of transitions in ?
number of states in ? plus 1
number of states in ?
number of transitions in ? plus 1
In: Computer Science