During this COVID‐19 pandemic, the South African Reserve Bank (SARB) plays a crucial role in maintaining financial stability.

Describe the roles that the SARB can play to ensure the objective of financial stability is met.

Marks will be awarded for the quality of your paraphrasing, i.e. you must write in your own words. (Note: 1 mark to identify the area and 2 marks to describe each of the areas)

The 4 areas are:

Formulation and implementation of monetary policy-

Service to government -

Provision of economic and statistical services -

Maintaining financial stability-

Q30. When an insect infestation wipes out cotton crops in the south, consumer prices for cotton-based goods ____ while cotton production in other regions ____.

decreases, decrease

increase, increases

decreases, increase

increases, decrease

Q31. When a budget drops into deficit, a government can attempt to plug the gap by ____.

borrowing, cutting spending, raising taxes, all of the above

Q38. Discretionary fiscal policy is limited by the fact that ____ of the federal budget is non-discretionary.

80% - 100%

0% - 20%

20% - 40%

60% - 80%

An Ontario farmer owns two orchards, one near the lakeshore and one near the escarpment (a high cliff that runs south of Lake Ontario). He wants to find out if topography plays a role in the development of his apples. From the lakeshore orchard, he randomly collects 15 apples which have an average weight of 86g and a standard deviation of 7. From the escarpment orchard, he randomly collects 10 apples with an average weight of 80g and a standard deviation of 8. Is there a difference in the weight of the apples at both locations?

During the last shot in a curling match, you attempt a take-out to win the game. The two curling rocks are of equal mass, one red and the other blue, and collide in a glancing collision. The blue rock is initially at rest and is struck by the red rock moving initially East at 4.60 m/s. After the collision, the red rock moves in a direction that makes an angle of 38.0° North of East, while the blue rock makes an angle of 52.0° South of East. Determine the speed of each rock after the collision.

Using chi-square, test the null hypothesis that the prevalence of serious mental illness does not differ by type of substance abuse.

A sample of 118 college students is asked whether they are involved in campus activities. Using the following cross tabulation depicting student responses by the region in which their colleges are located, conduct a chi-square test of significance for regional differences.

Campus Activity Participation

Region     Involved      Uninvolved

East            19                     10

South         25                      6

Midwest        15                   15

West              8                       20

A major roadway with a speed limit of 45 mph has an intersection that has no intersection control with a minor roadway at a right angle. A building is located next to the intersection at a distance of 60 feet from the center of the farthest lane on the major roadway and 40 ft from the center of the nearest lane on the minor roadway. The major road (E-W) has a grade of +4% from east to west and the minor road has a +5% grade from north to south. What is the maximum speed limit for the minor roadway?

The cue ball collides with the 8-ball on a pool table. Before the collision, the 8-ball was stationary, and the cue ball was moving east with a speed of 9 m/s . After the collision, the 8-ball moves at an angle of 45 ∘ south of east with a speed of 4 m/s . Right after the collision, what is the component of the cue ball's velocity that points east? You may assume the two balls have the same mass. Right after the collision, what is the component of the cue ball's velocity that points north?

American Food Services, Inc. leased a packaging machine from Barton and Barton Corporation. Barton and Barton completed construction of the machine on January 1, 2021. The lease agreement for the $5.9 million (fair value and present value of the lease payments) machine specified four equal payments at the end of each year. The useful life of the machine was expected to be five years with no residual value. Barton and Barton’s implicit interest rate was 9%. (FV of $1, PV of $1, FVA of $1, PVA of $1, FVAD of $1 and PVAD of $1) (Use appropriate factor(s) from the tables provided.)

Required:
1. Prepare the journal entry for American Food Services at the beginning of the lease on January 1, 2021.
2. Prepare an amortization schedule for the four-year term of the lease.
3. & 4. Prepare the appropriate entries related to the lease on December 31, 2021 and 2023.

Griffin Shoe Company records Sales Returns and Allowances, Sales Discounts, and Credit Card Discounts as contra-revenues.

July 12 Sold merchandise to customer at factory store who charged the $300 purchase on her American Express card. American Express charges a 2 percent credit card fee. Cost of goods sold was $175.

July 15 Sold merchandise to Customer T at an invoice price of $5,400; terms 1/10, n/30. Cost of goods sold was $2,700.

July 20 Collected cash due from Customer T.

July 21 Before paying for the order, a customer returned shoes with an invoice price of $1,200; cost of goods sold was $720.

Complete the following table by entering the amounts of the effects of each transaction, including the related cost of goods sold. (Indicate decreases with a minus sign.)