Knowledge workers prefer working under an authoritative leader over working autonomously. The correct option is C.
Knowledge workers are people who work with knowledge and information, as the term implies. This means that they are people who deal with knowledge and information to accomplish their tasks. An authoritative leader is one who leads with authority or with a high degree of control over their subordinates. The authoritative leadership style is often characterized by a top-down management approach that emphasizes the leader's authority over his or her followers' decisions and actions.Knowledge workers generally fall under the classification of professionals or white-collar workers, and their jobs typically entail a considerable amount of technical and intellectual abilities. The term "knowledge worker" was coined by Peter Drucker, a renowned management consultant, in the 1960s, to describe professionals who deal with knowledge and information on a regular basis. Knowledge workers prefer to operate better in environments where they are given more autonomy and the freedom to make their own decisions without constant supervision from their superiors. As a result, they prefer to work under leaders who are collaborative and supportive, rather than authoritative and controlling.Hence option c is the right choice.Learn more about knowledge workers at: https://brainly.com/question/15074746
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What are taco meat made out of my mom won’t tell me?
Answer:
beef
Explanation:
it depends on what type of taco meat but it's mostly beef
Parramatta Bank has assets of $181 million and liabilities of $151 million. The asset duration is 6.3 years and the duration of the liabilities is 3.3 years. Market interest rates are 8 per cent. Parramatta Bank wishes to hedge the balance sheet with bank accepted bill futures contracts with a market value of $98 per $100 of face value.
b) How many contracts are necessary to fully hedge the bank? (enter a number]
A depository institution has the following assets in its portfolio: $23 million in cash reserves with the Reserve Bank, $21 million in T-notes and $56 million in mortgage loans. If the assets need to be liquidated at short notice, the depository institution will receive only 99 per cent of the fair market value of the T-notes and 85 per cent of the fair market value of the mortgage loans. Estimate the liquidity index for the portfolio. (round to four decimal places)
Therefore, the liquidity index for the given portfolio is 0.7768. Parramatta Bank wishes to hedge the balance sheet with bank accepted bill futures contracts with a market value of $98 per $100 of face value. This is a detail answer to part b) How many contracts are necessary to fully hedge the bank? (enter a number).
We can use the following formula to calculate the number of contracts that are needed to fully hedge the bank; Hedge ratio = (value of assets)/(value of each contract × futures price of each contract)Now, calculating the hedge ratio, Hedge ratio = 181/(100 × 98) = 0.18316Therefore, 0.18316 contracts are needed. But since a fraction of a contract is impossible, the bank needs to purchase one futures contract to hedge the portfolio.
A liquidity index of an asset determines its value during the short run. It is calculated by dividing the value of the asset that can be sold immediately in the market by the total value of the portfolio. The percentage value that is derived from this division is a useful measure for banks to know if they can fulfill their obligation to withdraw cash from their customers' accounts without selling their other assets. To calculate the liquidity index, we need to calculate the market value of the T-notes and the mortgage loans, which will be the amount the bank can realize if it decides to sell them immediately, then divide this value by the total market value of the portfolio. Let's do the calculation for the given portfolio; Market value of T-notes = 21 × 0.99 = 20.79 million Market value of mortgage loans = 56 × 0.85 = 47.6 million Total market value of the portfolio = 23 + 20.79 + 47.6 = 91.39 million Liquidity index = (20.79 + 47.6)/91.39 = 0.7768 Therefore, the liquidity index for the given portfolio is 0.7768, rounded to four decimal places.
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Genera 5
3
Select the correct answer.
Which relationship is possible when two tables share the same primary key?
O A one-to-one
ОВ.
one-to-many
OC. many-to-one
OD. many-to-many
Reset
Next
Question:
Which relationship is possible when two tables share the same primary key?
Explanation:
One-to-one relationship.
The association stradegy is used to_________information
Answer:
The association strategy is used to help memorized information.
Explanation:
A benefit of using association is that it allows the learner to be creative and have fun. ... The association strategy is used to help memorized information.
The fair value of an investment is the price that?
Fair value is the price that an investment would be sold for in an orderly transaction between market participants.
The fair value of an investment is the price that would be received for the investment in an orderly transaction between market participants at the measurement date.
In other words, the fair value of an investment is the price that would be agreed upon by a willing buyer and a willing seller, with each party acting in their own best interests and having reasonable knowledge of the investment.
The fair value of an investment is important for a number of reasons. First, it is used to determine the value of an investment for financial reporting purposes. Second, it is used to calculate the amount of capital gains or losses that an investor realizes when they sell an investment. Third, it is used to determine the amount of collateral that an investor must post when they take out a loan.
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in regard to resource leveling, why are noncritical path activities generally the first to be delayed?
Noncritical path activities are generally the first to be delayed in resource leveling because they have more flexibility in terms of their start and finish times compared to critical path activities.
Resource leveling is a technique used in project management to address resource constraints and optimize resource utilization. The critical path represents the sequence of activities that determine the project's overall duration. These activities have zero or very little flexibility in terms of their start and finish times, and any delay in critical path activities will directly impact the project's completion time. On the other hand, noncritical path activities have some slack or float, meaning they can be delayed without affecting the project's overall duration. By delaying noncritical path activities, project managers can better allocate scarce resources to critical path activities and ensure that critical tasks are completed on time. Delaying noncritical path activities allows for better resource utilization and avoids overloading resources when they are already stretched thin. It helps to balance resource allocation and ensure that critical activities receive the necessary attention and resources to meet project deadlines.
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Billy never lets money stay in his pockets, he thinks if it is there he has to spend it. Often he spends it on useless "stuff". Billy works pretty hard at landscaping jobs. He's only in the 8th grade, but has goals to get a car, go to college and buy a big house. What advise do you have for him?
Answer: See explanation
Explanation:
Based on the information given in the question, the advise for Billy is that he should save his money rather than purchasing things that are useless.
He has goals to get a car, go to college and buy a big house but he's rather spending on useless stuff. This will make his goals harder to achieve but saving the money for future purpose is essential to achieve his dreams and meet other demands.
please give me ten pros and ten cons for online banking.
Choose all that apply.
Select the advantages to banking online.
convenient
lower fees
efficient
accessible from anywhere
quick transaction speed
always open
Answer:
All are correct except for lower fees
Explanation:
1. Convenient
2. Efficient
3. Accessible from anywhere
4. Quick transaction speed
5. Always open
What types of planning can be done to improve a nation’s economy?
A nation can undergo ____ planning or ___ planning in order to improve its economy.
Answer:
A nation can undergo long-term planning or constructive planning in order to improve its economy. Long-term planning involves setting goals and implementing policies that will have an impact over a period of several years. This type of planning may involve investments in education, infrastructure, and research and development, among other areas. Constructive planning involves implementing policies that encourage economic growth and development, such as reducing barriers to trade, promoting entrepreneurship and innovation, and investing in key industries. These types of planning can help a nation to create jobs, increase productivity, and improve living standards for its citizens. THANK YOUKevin and July Johnson (both age 70) are married and together have AGI of $110,000 in 2019. They have two dependents and file a joint return. During the year, they paid 58,000 for medical insurance, $15.000 in doctor bills and hospital expenses, an $1,000 for prescribed medicine and drugs a. In December 2019, the Johnsons received an insurance reimbursement of $5,000 for hospitalization expenses. Determine the deduction allowable for medical expenses paid during the year. b. Assume the Johnsons received the $5,000 insurance reimbursement in March 2020. Determine the deduction allowable for medical expenses in 2019, c. With $5,000 insurance reimbursement received in March 2020, discuss whether the reimbursement will be included in their gross income for 2020.
To determine the deduction allowable for medical expenses paid during the year, we need to calculate the total amount of medical expenses paid minus any insurance reimbursement received. In this case, the Johnsons paid $58,000 for medical insurance, $15,000 in doctor bills and hospital expenses, and $1,000 for prescribed medicine and drugs, for a total of $74,000 in medical expenses.
b. If the Johnsons received the $5,000 insurance reimbursement in March 2020, it would not affect their deduction for medical expenses in 2019. The reimbursement would be considered as income in the year it was received, which is 2020, and not included in the calculation of their medical expenses for 2019.
c. With the $5,000 insurance reimbursement received in March 2020, the reimbursement will not be included in their gross income for 2020 if the reimbursement does not exceed the amount of their medical expenses for 2020.
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an owner of a large apartment complex in a college town has sent a letter to each tenant indicating that if the tenant refers a prospect and the prospect signs a rental agreement, the owner will pay the tenant a $50 finder's fee for the referral. which statement is true regarding this arrangement?
Owners of apartment complexes are exempt from licensure for the purpose of paying a finder's fee to tenants of the apartment complex.
What is the meaning of finders fee?A finder's fee is a commission paid to a person who identified for, brought to the attention of, or facilitated a business transaction between interested parties.In California, the Bureau of Real Estate and California law permits a licensed real estate brokerage to pay a referral fee for a real estate transaction to a person not licensed by the Bureau of Real Estate, only if the person who is to get such a fee was not soliciting on behalf of the brokerage.It is a violation of s. 475.25(1)(h) and punishable under s. 475.42 for a property management firm or any owner of an apartment complex to pay a finder's fee or a referral fee to an unlicensed person unless expressly authorized by this subsection.To learn more about finders fee refers to:
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You are the head of sales training for a major financial services firm in New York City. You are conducting a sales training class for a group of new trainees. You are a strong believer in using a structured approach to personal selling. Based on this information, which of the following personal selling process steps are you going to tell the trainees to perform first?
a. Develop a database of potential customers.
b. Develop an engaging sales presentation.
c. Practice closing the sale.
d. Develop a prospect follow-up checklist.
e. Analyze information about potential customers' needs.
Answer:
a. Develop a database of potential customers.
Explanation:
Analyzing the scenario of the question above, it can be understood that, a sales training manager who believes in a structured approach to personal sales as the best option, the ideal would be to tell trainees to perform the stages of the personal sales process first. will tell trainees to first develop a database of potential customers.
Because the first step in the personal selling process is prospecting for customers, so a database of potential customers will be the most structured process for prospecting potential customers and then reach the other stages of the sales process in an organized and effective way.
Which of the following is SIQ most likely to
stand for?
A. Station Identification Questionnaire
B. Standard Item Questionnaire
C. Software Inventory Questionnaire
D. System Identification Questionnaire
E. Station Inventory Questionnaire
Both a questionnaire and an inventory are examples of surveys. Simple to-answer questions are included in the questionnaire. These inquiries are made in an effort to obtain information, and they frequently concern particular topics.
Thus, Option E is correct.
What is the questionnaire data collection method?A questionnaire's objective is to gather data from respondents regarding their attitudes, experiences, and opinions. Questionnaires are frequently utilized in social and health sciences and market research. In order to increase customer satisfaction and profitability, our inventory assessments evaluate strategies, inventory management systems, processes, and procedures for developing new goods and managing inventory.
A questionnaire's objective is to collect information from a target audience. It will contain closed-ended and open-ended questions or a mix of the two.
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1. Consider the economy of Taiwan. Discuss how the historical, geographic, political, cultural
or ethnic background and/or natural resources endowment shaped this country’s economic
development. (It is not necessary to cover all of these mentioned factors.)
1. Consider the economy of Singapore. Discuss how the historical, geographic, political,
cultural or ethnic background and/or natural resources endowment shaped this country’s
economic development. (It is not necessary to cover all of these mentioned factors.)
Taiwan is an island country located in East Asia. The country is known for its technological innovation and advanced economy. Taiwan's economic development was shaped by several factors such as its geographic location, natural resources, and political factors.
Taiwan is rich in natural resources such as coal, natural gas, and petroleum, but the country is heavily dependent on imported raw materials. Taiwan's economic development was driven by export-oriented industrialization. The country's economic growth was propelled by the government's policies that supported the development of high-tech industries, such as semiconductors, telecommunications, and electronics.
The government provided incentives such as tax breaks, subsidies, and low-interest loans to attract foreign investment. Furthermore, Taiwan's political and cultural background shaped its economic development. The country has a democratic system of government, which has contributed to its political stability and economic growth. Taiwan's culture values education, hard work, and entrepreneurship, which have been instrumental in driving the country's economic success. Singapore is a city-state located in Southeast Asia.
The country is known for its well-developed economy, high standard of living, and efficient government. Singapore's economic development was shaped by several factors such as its geographic location, natural resources, and political factors. Singapore is located at a strategic location, which has made it a hub for trade and commerce. The country has a deep-water port, which has contributed to its economic success. Singapore's natural resources are limited, and the country relies heavily on imported raw materials.
The country's economic development was driven by export-oriented industrialization. The government provided incentives such as tax breaks, subsidies, and low-interest loans to attract foreign investment. Furthermore, Singapore's political and cultural background shaped its economic development. The country has a stable government, which has contributed to its political stability and economic growth.
Singapore's culture values education, hard work, and entrepreneurship, which have been instrumental in driving the country's economic success. In conclusion, Taiwan and Singapore's economic development was shaped by several factors such as its geographic location, natural resources, and political and cultural background. Both countries have adopted export-oriented industrialization as a key driver of economic growth, which has been supported by government policies that incentivize foreign investment.
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What is your starting salary?
A. How much you are paid during your first year of working.
B. The average amount people are paid for working that job.
C. How much you pay in taxes during your first year.
D. The average amount people are paid in your local area only.
Which of these can be considered “online banking?”
I. A brick-and-mortar bank that allows its customers to transfer money online.
II. A bank that has only a few branches but has customers depositing money online.
III. A bank that does not exist as a real building, but only has an internet presence.
Answer:
D
Explanation:
l, ll, & lll
All the given statements are examples of online banking. Thus, all the given statements are correct statements.
What is online banking?Online banking, often known as internet banking, online banking, or home banking, is a type of electronic payment system that allows clients of banks and other financial institutions to carry out a variety of financial transactions via the website of the financial institution. In order to offer consumers access to banking services in addition to or in substitute for traditional branch banking, the online banking system will normally link to or be a component of the core banking system run by a bank.
Online banking provides greater convenience to some customers by reducing the need to visit a branch bank and the convenience of being able to conduct banking transactions even when branches are closed. It also significantly lowers operating costs for banks by decreasing their reliance on a branch network.
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Accounting is referred to as the language of business because it is the method of communicating business information to decision makers.
a. true
b. false
'Accounting is referred to as the language of business because it is the method of communicating business information to decision-makers.
This statement is True.
Accounting, also called bookkeeping, is the measurement, processing, and transmission of financial and non-financial information about economic entities such as businesses and enterprises.
Definition of Accounting is the process of systematically recording and maintaining financial accounts. Creating an income statement is an example of accounting. noun.
The process of systematically recording all company financial transactions. This includes analyzing, summarizing and reporting financial transactions to regulators, authorities and tax authorities. Accountants do the bookkeeping process for a company.
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According to the video, what are some qualities that Special Education Teachers need? Check all that apply. driving skills art skills communication skills patience responsibility O dominance
Answer:
3,4,5 hope this help:)
Explanation:
Answer:
c, d, e
Explanation:
yeet
Passage 1 is excerpted from tamara davis, if galaxies are all moving apart, how can they collide? reproduced with permission. © 2009 by scientific american, a division of nature america, inc. All rights reserved. Passage 2 is excerpted from david biello, more often than not, massive galaxies form by mergers. Reproduced with permission. Copyright © 2005 by scientific american, a division of nature america, inc. All rights reserved.
The reason why galaxies would collide is due to the fact that the constant outward force does not dilute.
The dark energyThis is the energy that is said to be responsible for the movement apart. Before the universe started moving apart, those galaxies that used to be pulled together may still have a chance at collision.
The passage says that dark energy dominates due to the fact that as the universe increases, matter and energy are also said to dilute.
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What are 3 reasons for having a checking account?
The major reason for having the checking account are financial safety, easy access to your funds, savings from check-cashing fees, and overall financial peace of mind.
Checking account:
In accounting, checking account is the type of bank account that allows you to easily deposit and withdraw money for daily transactions.
Given,
Here we need to find the 3 reasons for having a checking account.
Based on the given definition we know that the checking account is the that is perfectly suitable for the daily transactions actions.
Therefore, the reason behind the usage of checking account is listed as,
=> helps you manage your day-to-day finances, such as paying your bills,
=> receiving direct deposit of your paycheck, and
=> withdrawing cash from an ATM.
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In actual practice, managers frequently use the: I. average accounting return method because the information is so readily available. II. internal rate of return because the results are easy to communicate and understand. III. discounted payback because of its simplicity. IV. net present value because it is considered by many to be the best method of analysis
Answer:
45
Explanation:
edg
Frequently managers use the ARR method, IRR method, and NPV method in the process of capital budgeting.
What is a budget?A budget You can prepare for your income and expenses over the course of a specific time period using a budget. Making a monthly budget, for instance, considers where your income and expenses will go each month. "A budget is frequently a dirty term or has a nasty ring to it.
Simply said, a budget is a spending plan that accounts for both present and future sources of income and expenses. A budget ensures that your spending is under control and that your savings are on track for the future.
The reason for using these 3 methods is that they use the concept of the time value of money and are easy to understand.
The ARR method information is readily available.
The IRR method is easy to understand.
Also, many companies use the NPV technique.
Therefore, Thus option (C) is correct.
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sales promotions are short term efforts directed to the consumer or retailer to achieve specific objectives such as
Sales promotions are short-term efforts directed towards consumers or retailers with the goal of achieving specific objectives, such as increasing sales, generating awareness, encouraging trial, or enhancing brand loyalty.
Sales promotions are marketing activities designed to incentivize consumers or retailers to take immediate action. These promotions are typically time-limited and offer extra value or incentives to encourage desired behaviors.
One objective of sales promotions is to increase sales. By offering discounts, coupons, or limited-time offers, businesses aim to stimulate consumer demand and drive immediate purchases. These promotions create a sense of urgency and motivate consumers to take advantage of the special deals or savings.
Sales promotions also serve as a tool to generate awareness and attract new customers. For example, offering free samples or conducting product demonstrations can expose consumers to new products and encourage trial. These promotional activities help create buzz and word-of-mouth referrals.
Another objective of sales promotions is to encourage brand loyalty and repeat purchases. Loyalty programs, reward points, or exclusive discounts for existing customers incentivize them to continue buying from a particular brand. By offering incentives and rewards, businesses aim to retain customers and foster long-term relationships.
Overall, sales promotions are short-term marketing tactics aimed at achieving specific objectives such as increasing sales, generating awareness, encouraging trial, and enhancing brand loyalty.
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Question 32
What is the best divisional structure when a few major customers
are of paramount importance and many
different services are provided to these customers?
• By cost
O By customer
• By product
• By geographic area
• By process
By customer is the best choice when a company has a few major customers that are of paramount importance and provides a variety of services to these customers.
Option b is correct.
When a company has a few major customers that are of paramount importance and it provides a variety of services to these customers, the best divisional structure would be a divisional structure by customer. This is because this type of structure focuses on serving specific customer groups, which aligns well with the company's goal of providing excellent service to its major customers.
A divisional structure by customer involves dividing the company into different units or divisions that are responsible for serving specific customer groups. Each division operates as a separate entity within the company and has its own resources and personnel. This allows each division to focus on meeting the unique needs of its specific customer group, which can result in increased customer satisfaction and loyalty.
Overall, a divisional structure This type of structure allows the company to focus on meeting the unique needs of each customer group, which can result in increased customer satisfaction, loyalty, and ultimately, revenue.
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Question 5 of 20
Which is an advantage of paying off a liability?
OA. The liability remains a liability.
B. The liability starts to lose valu
OC. The liability starts to gain value.
OD. The liability can become an asset.
Answer:
OD is the answer because a liability can become an asset once paid
An advantage of reimbursing the liability is that it becomes an asset when it is being paid.
Option D is correct.
What is an asset?An asset is the monetary resource of a company which is acquired so that the company would get the maximum benefits in the near future. It is the secondary part of balance sheet which is further classified into two parts namely, current and non-current assets.
Liability is referring to the obligation of a company regarding which the repayment would be done after a certain period of time. In order to repay the liabilities like short-term and long-term borrowings, the assets which can be easily converted into cash are being considered. For instance, the amount due from debtors is a current liability and when it is paid, then it is considered to be a current asset.
Therefore, the advantage written in option D is correct.
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Gary Stevens and Mary James are production managers in the Consumer Electronics Division of General Electronics Company, which has several dozen plants scattered in locations throughout the world. Mary manages the plant located in Des Moines, Iowa, while Gary manages the plant in EI Segundo, California. Production managers are paid a salary and get an additional bonus equal to 5 % of their base salary if the entire division meets or exceeds its target profits for the year. The bonus is determined in March after the company's annual report has been prepared and issued to stockholders.
Shortly after the beginning of the new year, Mary received a phone call from Gary that went like this:
Gary: How's it going, Mary?
Mary: Fine, Gary. How's it going with you?
Gary: Great! I just got the preliminary profit figures for the division for last year and we are within 200,000 of making the year's target profits. All we have to do is pull a few strings, and we'll be over the top!
Mary: What do you mean?
Gary: Well, one thing that would be easy to change is your estimate of the percentage completion of your ending work in process inventories. Mary: I don't know if I can do that, Gary. Those percentage completion figures are supplied by Tom Winthrop, my lead supervisor, who I have always trusted to provide us with good estimates. Besides, I have already sent the percentage completion figures to corporate headquarters.
Gary: You can always tell them there was a mistake. Think about it, Mary. All of us managers are doing as much as we can to pull this bonus out of the hat. You may not want the bonus check, but the rest of us sure could use it.
The final processing department in Mary's production facility began the year with no work in process inventories. During the year, 210,000 units were transferred in from the prior processing department and 200,000 units were completed and sold. Costs transferred in from the prior department totaled 39,375,000. No materials are added in the final processing department. A total of 20,807,500 of conversion cost was incurred in the final processing department during the year.Required:
(b) Does Gary Stevens want the estimated percentage completion to be increased or decreased? Explain why.
The percentage of completion of work in prepare stock is an appraise of the inventory's completion relative to the complete generation process. Rate of completion is one of the bookkeeping estimates that are helpless to subjective inclinations. The rate of completion incorporates a critical salary on the money related articulations
Gary Stevens wants the expected percentage completion to be escalated(increased) because he wants to get additional bonus which is paid at the rate of 5% of the basic pay. That is why he wants Mary to manipulate the figures to get the additional bonus.Gary Stevens desparately wants the margin to grow. To increase the margins, he has to lessen the cost of goods sold.In process of lessen the cost of goods sold, he has to improve the equivalent production. And if one wants to increase the production equivalent figures, then there will be more calculated percentage completion finished work in process.To know more about percentage of completion visit:
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suppose that $12,000 is deposited for six years at 5% apr. calculate the interest earned if interest is compounded quarterly. round your answer to the nearest cent.
The compound interest can be calculated with the help of following formula, $16,168.21
What is Compound interest?Compound interest is the interest that is compounded at each interval, the interest earned is also earned on the interest that was earned in the previous intervals, in the simple interest the interest earned is only on the principal amount and not the interest that is earned at the previous intervals, the formula for compound interest is following,
= Principal ( 1 + (interest rate / times compound per year )) ^ number of years
=$12,000 (1 + (0.05 / 4 ) ^(6)(4)
=$16,168.21
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emerging market portfolio flows: the role of benchmark-driven investors by mr.serkan arslanalp, mr.takahiro tsuda
In conclusion, the research paper highlights the importance of understanding the role of benchmark-driven investors in emerging market portfolio flows. By studying their behavior and the impact of their actions, policymakers and investors can make more informed decisions. The findings of this paper contribute to our understanding of the dynamics of emerging markets and provide valuable insights for managing investments in these markets.
"Emerging market portfolio flows: the role of benchmark-driven investors" by Mr. Serkan Arslanalp and Mr. Takahiro Tsuda is a research paper that explores the impact of benchmark-driven investors on emerging market portfolio flows. In simple terms, benchmark-driven investors are investors who aim to replicate the performance of a specific benchmark index, such as the MSCI Emerging Markets Index.
The paper examines how these investors' actions can affect capital flows in emerging markets. It discusses that when a benchmark index is updated, benchmark-driven investors may need to adjust their portfolios to align with the new index composition. This adjustment can result in significant capital flows into or out of emerging markets, influencing asset prices and overall market stability.
The authors provide an explanation of how benchmark-driven investors' actions can create opportunities and challenges for emerging market economies. For example, when benchmark-driven investors increase their allocations to an emerging market, it can attract additional capital, stimulate economic growth, and improve market liquidity. On the other hand, sudden outflows can lead to market volatility and potential financial instability.
In conclusion, the research paper highlights the importance of understanding the role of benchmark-driven investors in emerging market portfolio flows. By studying their behavior and the impact of their actions, policymakers and investors can make more informed decisions. The findings of this paper contribute to our understanding of the dynamics of emerging markets and provide valuable insights for managing investments in these markets.
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what is meant by entry book
Answer:
Its a record of money in the bank
P
What are
the gross sales?
Income Statement
For the Year Ended February 28, 2020
Revenues
Merchandise Sales
$304,000.00
Sports Training Income
24,600.00
Total Revenues:
328,600.00
Expenses
Salaries
Supplies Expense
Total Expenses:
85,000.00
15,500.00
100,500.00
*(all numbers in 000s)
The gross sales for the year ended February 28, 2020, were $328,600.00.
The income statement provided shows the revenues and expenses for the year ended February 28, 2020. To calculate the gross sales, we simply add up the total revenues, which includes merchandise sales and sports training income, giving us a total of $328,600.00.
Gross sales refer to the total revenue earned by a company before any deductions or expenses are taken into account. It is an important metric used to assess the overall financial performance of a company.
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