What are three strategies that you can use to make better financial decisions?

Answers

Answer 1
Answer: Investing at a young age so you can either have a heathy amount of money or retire at a young age, try to have people work for you and not work for someone, be smart with your money and use common sense when buying something. Example: “do I really need this though?”
Answer 2
Answer: I would say save, invest and start a business

Related Questions

Most voluntary changes in accounting principles are reported retrospectively. This means for each year reported in the comparative statements, we make those statements appear as if the newly adopted account­ing method had been applied all along. A journal entry is created to adjust all account balances affected as of the date of the change. In the first set of financial statements after the change, a disclosure note describes the change and justifies the new method as preferable. It also describes the effects of the change on all items affected, including the fact that the retained earnings balance was revised in the statement of shareholders’ equity.Melas Company changed from the LIFO to the FIFO inventory costing method on January 1, Year 3. Inventory values at the end of each year since the inception of the company are as follows:FIFO LIFOYear 1 $195,000 $177,500Year 2 $390,000 $355,000Ignoring income tax considerations, prepare the appropriate journal entry, dated January 1, Year 3, to report this accounting change. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)
Parker Plastic, Inc., manufactures plastic mats to use with rolling office chairs. Its standard cost information for last year follows: Standard Quantity Standard Price (Rate) Standard Unit Cost Direct materials (plastic) 12 sq ft. $ 0.83 per sq. ft. $ 9.96 Direct labor 0.25 hr. $ 10.50 per hr. 2.62 Variable manufacturing overhead (based on direct labor hours) 0.25 hr. $ 2.20 per hr. 0.55 Fixed manufacturing overhead $345,800 ÷ 910,000 units) 0.38 Parker Plastic had the following actual results for the past year: Number of units produced and sold 1,040,000 Number of square feet of plastic used 11,400,000 Cost of plastic purchased and used $ 9,120,000 Number of labor hours worked 308,000 Direct labor cost $ 3,449,600 Variable overhead cost $ 689,000 Fixed overhead cost $ 365,000 Required: Calculate Parker Plastic’s direct materials price and quantity variances. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable, and "None" for no effect (i.e., zero variance).)
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Discuss why two people with similar abilities may have very different expectancies for performing at a high level.

Answers

Answer:

Because they're two different people

Explanation:

The main and major reason why, is the obvious one. The first reason that comes to the mind.

Because they are two different people. Different people have different goals, hopes and aspirations. And even those that share them go through different paths while carrying them out. The minds of the two individuals are not the same, and despite the fact that they have similar abilities, they might not necessarily get the job done on time because of other commitments either of them have. Even if they both have none, there's always a distinguishing factor, and that will always trump, thus making them have different expectancies for performing at a high level.

Of the following, what actions would be most helpful as Andrew develops his own brand? Check all that apply. Emphasis his degree and G.P.A. Talk about his three summer internshipsEmphasize his leadership position in an on-campus organization Include information on classes he took List referrals

Answers

Answer:

The correct answers are letters "B" and "C": Talk about his three summer internships; Emphasize his leadership position in an on-campus organization.

Explanation:

Employers tend to look for relevant information on resumes. Usually, applicants that go further in selection processes are those whose resumes highlighted outstanding, unique information that shows the applicants have skills not easy no find for recruiters.  

Thus, Andrew should include his core competencies on his resume but pointing out capabilities that employees might be interested in such as leadership and teamwork. In case he has remarkable experiences such as cultural exchanges or internships, they must be added to his curriculum vitae as well.

Final answer:

When developing his brand, Andrew should emphasize his three summer internships, and his leadership role in an on-campus organization, and include referrals. These factors demonstrate practical experience, leadership skills, and personal recommendations which are highly valued by potential employers.

Explanation:

As Andrew works on developing his brand, all the options presented should be utilized to a certain extent as they each provide valuable information about his experiences and qualifications. However, some aspects may carry more weight than others. Firstly, mentioning his three summer internships, where he gained practical experience, will go a long way. Employers value hands-on experience since it shows a candidate's initiative to learn and thrive in a real-world environment.

Secondly, his leadership position in an on-campus organization should be highlighted. Leadership roles demonstrate skills such as teamwork, management, and the ability to overcome challenges, which are valuable in any job role.

Lastly, providing referrals or recommendations can be another great asset. Referrals act as testimonials of his abilities, work ethic, and accomplishments.

His GPA and the classes he took might be less influential, depending on the specific job or industry he is interested in.

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A stock is selling for $41.60. The strike price on a call, maturing in 6 months, is $45. The possible stock prices at the end of 6 months are $35.00 and $49.00. Interest rates are 5.0%. Given an underpriced option, what are the short sale proceeds in an arbitrage strategy

Answers

Answer:

Possible outcome of stock price at end of 6 months (0.5 years)

Outcome 1:

Stock price = 35

Strike price = 45

Payoff call = max{ST - K,0} = max{35-45,0} = 0

Present value =

PV = 0/(1+5%)^0.5 = 0

Outcome 2:

Stock price = 49

Strike price = 45

Payoff call = max{ST - K,0} = max{49-45,0} = 4

Present value =

PV = 4/(1+5%)^0.5 = 3.903

Probability of both outcomes = 0.5

Value of call option = 0.5*0 + 0.5*3.903 = 1.95

Short sale arbitrage opportunity:

Short the stock and buy a call option. Invest the proceeds at 5% for 6 months:

Short stock = +41.6

long call = -1.95

Proceeds = 41.6 - 1.95 = 39.65

Amount after 6 months = 39.65*(1+5%)^0.5 = 40.629

Case 1:

Stock price = 35

Payoff from long call = 0

Buy the stock at market price and close the short stock position = -35

Total payoff = 40.629 - 35 = 5.629

Case 2:

Stock price = 49

Payoff from long call = 49 - 45 = 4

Buy the stock from market price and close the short stock position = -49

Total payoff = 40.629 + 4 - 49 = -4.3708

Present value of payoff from both cases = (0.5*5.629 + 0.5*(-4.3708))/(1+5%)^0.5

= 1.2581/1.0246 = 1.2277

Arbitrage payoff = 1.2277

Answer:

The short sale proceeds in an arbitrage strategy is 1.2277

Explanation:

From the question given,

The  Possible outcome of stock price at end of 6 months (0.5 years)

The Outcome  is:

The Stock price = 35

The Strike price = 45

The Payoff call = max(ST - K,0) = max(35-45,0) = 0

The Present value = PV = 0/(1+5%)^0.5 = 0

The  possible Outcome 2:

The Stock price = 49

The Strike price = 45

The Payoff call = max{ST - K,0} = max{49-45,0} = 4

The Present value =

PV = 4/(1+5%)^0.5 = 3.903

Then,

The Probability of both outcomes = 0.5

Value of call option = 0.5*0 + 0.5 x 3.903 = 1.95

Therefore, the Short sale arbitrage opportunity is:

The Short the stock and buy a call option.

Invest the proceeds at 5% for 6 months:

Short stock = +41.6

long call = -1.95

Proceeds = 41.6 - 1.95 = 39.65

Amount after 6 months = 39.65*(1+5%)^0.5 = 40.629

The Case 1:

Stock price = 35

Payoff from long call = 0

Buy the stock at market price and close the short stock position = -35

The Total payoff = 40.629 - 35 = 5.629

For Case 2:

Stock price = 49

Payoff from long call = 49 - 45 = 4

Buy the stock from market price and close the short stock position = -49

Total payoff = 40.629 + 4 - 49 = -4.3708

The Present value of payoff from both cases = (0.5*5.629 + 0.5*(-4.3708))/(1+5%)^0.5

= 1.2581/1.0246 = 1.2277

Then the Arbitrage payoff = 1.2277

The welding department supplies parts to the final assembly line. Management decides to implement a kanban system and has collected the following data. The daily demand is 2000 units The production lead time is 4 days (this includes processing time, transport time, and waiting time) Management has decio One container fits 400 units How many kanban containers will be needed to support this system? _____ containers

Answers

Answer:

25 kanban containers

Explanation:

Given that,

Daily demand = 2,000 units

Production lead time = 4 days

Container size = 400 units

Lead time demand:

= Daily demand × Production lead time

= 2,000 units × 4 days

= 8,000 units

Safety Stock:

= Number of days × Daily demand

= 1 day × 2,000 units per day

= 2,000 units

Number of Kanban containers needed:

= (Lead time demand + Safety Stock) ÷ Container size

= (8,000  + 2,000) ÷ 400

= 10,000 ÷ 400

= 25

Trowel Corp. has outstanding accounts receivable totaling $13,000,000 as of December 31 and sales on credit during the year of $48,000,000. There is also a credit balance of $24,000 in the allowance for doubtful accounts. If the company estimates that 6% of its outstanding receivables will be uncollectible, what will be the amount of bad debt expense recognized for the year

Answers

Answer:

$756,000

Explanation:

Allowance for Bad Debts opening        ($24,000)

Allowance for Bad Debts Closing         $780,000

(13,000,000)*6%

Allowance Bad  Debt Expense for the year  $756,000

Amy sets herself a goal and says. "I'd like to lose 10 pounds." Which of the following criteria of the SMART system is missing in Amy's goal?a. Specificity
b. time frame
c. measurability
d. realism

Answers

Answer:

Letter b is correct. Time frame.

Explanation:

The SMART system is defined as an aid tool for achieving goals. It is a tool that can be used both by an individual and in corporations.

In order to achieve a goal, it is necessary to have the ideal planning of the set of actions that will contribute to the achievement.

Therefore, each letter of the word SMART corresponds to a meaning relevant to the effective implementation and achievement of a goal

S: specific. When drawing up a goal you must be direct and specific.

M: Measurable. To achieve goals, it is necessary to use a tangible indicator that assists the measurement.

A: Achievable. A goal must be planned according to the real possibility of being achieved.

R: Relevant. Goals must be relevant and create positive results for a person or organization.

T: Time. It is necessary to determine a time for the goal to be achieved.  In the question above, Amy lacked the planning for the deadline for achieving the goal, because without it there are great chances that the goal will not be taken seriously and not met.

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