Paul Rand Research Paper Example | Topics and Well Written Essays - 1500 words

Paul Rand - Research Paper Example Paul Rand’s life began in 1914 in Brooklyn. He was raised up in a firm Orthodox Jewish environment. Orthodox rules condemn the establishing of images for worship such as idols, but at a tender age, Rand would contravene such laws by extracting and placing photos of celebrities and supermodels aired in the media in his father’s grocery warehouse. He joined the Pratt Institute, previously known as the Parsons School of design, as well as the Art Students League. In the Art League, he became one of the pioneers of the Swiss Style of graphic design.2 Having a strong background in designing stock portraits and images for many magazine and newspaper companies, coupled with the thought that his Jewish name might drag his career backwards in a white domineering society, he renamed himself Paul Rand. These two four letter words served as his lifelong corporate identity. In his early twenties, Rand piled a large Portfolio. He was being assigned jobs that made him famous both at home and abroad. During this period of time, he began setting page layouts for the famous Apparel Arts magazine. His designs on the exterior layout of the Direction Magazine became astounding, attracting readership. In 1940, he came up with a barbed wire cover design, which depicts the magazine as both a war-tone token and a crucifix. This was his tactic of testing with high art themes.3 Rand was gifted in converting the mundane into creative and astonishing layouts. This earned him a contract in the Esquire-Coronet magazine as an art director. At first, he failed to take up the job, but later reconsidered the offer, making him the head of Esquire Magazine when he was as young as 23. In late 1930s, Rand commenced his occupation of designing logos and corporate brand identities. In 1938, he established a new trade name for both Wallace Puppets and Esquire. At the turn of 1940, Rand climbed the job ladder to become the Art Director with William H. Weintraub Advertising firm.4 During his

Influence of Corruption in Italian. Italian Soccer League Research Paper

Influence of Corruption in Italian. Italian Soccer League - Research Paper Example According to FIFA; which is the World Football regulation body, match fixing is an offense. In Seriea A, match fixing alongside other cases such as bribing of referees so as to influence a match in a way that benefits some other team have been common. This paper investigates how such actions are likely or have been able to influence the Italian Soccer league. Corruption and the Italian Soccer League In the recent past, Italy has had to deal with a series of match fixing scandals. Several people have been arrested, several club teams both at upper and lower levels have been held for impropriety with several other team officials and coaches being put under serious investigations. In 2006, Juventus suffered a heavy blow after it was temporarily demoted to Serie B and stripped of two Serie A titles, due to a match fixing scandal. It is important to understand how match-fixing scandal often takes place. One, it involves a pre-determined way of playing in a way that benefits some team (Hum phreys and Howard, 2008). ... However, one fact needs to be established that corruption has often affected the performance of not only selected clubs but also the Soccer League in general (Deloitte, and Touche, 2003). It has been established that corruption in the Italian soccer league in the Italian Soccer league is not just a current affair. There is a long history of corruption associated problems that has faced the league since its inception. For instance, in 1925 there was a national strike of referees following the suspicion that there was a ploy to mistreat and blacklist some members of the referees’ association (AIA)? It is believed that certain clubs were behind this supposed blacklisting, in order to eliminate some referees had remained reluctant to bow for the pressure and manipulation that these clubs had some times resorted to, in what has been referred to as winning at all cost (Deloitte, and Touche , 2003). To illustrate how this scandal had affected the credibility of the league, a match ha d to be declared null and Void in 1926 between Torion and Casale following the allegations that the referee had failed to officiate the match with â€Å"the correct serenity of spirit†. It was believed that the referee was completely biased awarding one of the teams most of the advantages. The reputation of referees then was put into question following a number of same incidences. The referees went on strike refusing to take any officiating responsibility due to the fact that most of them were victimized for no apparent reasons. In order to respond to these issues the Italian football had to set-up a commission that would identify and recommend reforms so that the once credible

Leadership Skills of Paul of Tarsus

Leadership Skills of Paul of Tarsus Carmel Gittens In the light of Romans, 1 Corinthians and Galatians, what sources of authority does Paul draw on to reinforce his case and what can be learned from the apostle in this respect for contemporary church leadership? Following his conversion on the road to Damascus, where Paul of Tarsus, one time persecutor of the followers of Jesus met with the risen Lord, he became the greatest defender of the newly forming Christian faith. His zeal and fervour once so attuned to ridding the world of this perceived threat to Judaism now turned to promoting the same. However, such was his dramatic and life changing meeting with Jesus, that Paul not only devoted his life to growing and nurturing early Christian churches, and spreading the gospel across the Mediterranean and beyond, but was willing to endure persecution and indeed martyrdom himself in the pursuit of his divine mission. It is widely held that Paul was uniquely equipped for this mission as he had many of the qualities needed for such an enormous task. In this essay, I will look at Pauls journey from persecutor to proselyte, a journey that took him many thousands of miles and one that required him to assert his message with conviction and authority. Paul would have to defend his teachings and the gospel he proclaimed in many varied and often difficult situations. To do this he used a variety of sources, for example, when Paul defends his apostolic status or challenges lax moral behaviour or advocates his gospel message he draws on his conversion experience, the Hebrew Scriptures, his finely honed and excellent rhetorical skill, and subsequent force of argument, to strengthen his case. Finally, I will look at how his leadership skills and methods may give us an insight into contemporary church leadership today. Let us first look at Pauls apostolic authority. There is no doubt that Paul claimed to be an apostle, and he certainly exercised authority, but when he did would he have claimed this to be as an apostle? He would not particularly have claimed that his authority came from his appointment as an apostle, but there are times when in defending his status he does assert his apostolic position. In the first two chapters of Galatians and in the letters to Corinth Paul hotly defends the position of being an apostle. In Galatians, some had argued that because he was not one of the original apostles appointed by Jesus he is somehow inferior to them, but more importantly as inferior to Peter. Of course, this is at the heart of the debate over apostleship. Pauls response to this was furious, he was furious with the old teachers who questioned his authority and tried to tie up the Christians with the old laws. But he was even more furious with the Christians for succumbing to their intimidation. Paul begins his letter with a strong and clear account of how his commission is not by vote of man, but God given. He continues to state how once James, Peter and John have recognised this they shake hands with him and Barnabus and assign them to a ministry with the non-Jews, while they continue with the Jews. He is stating here also that even as he rebukes Peter for certain practices that he thinks are out of line, Peter recognises his authority and equality with himself. In 1 Corinthians 9.1; 15.8-11 Paul asserts his right to be included as an apostle. He had after all seen the risen Christ, and the mission work he was doing with the Corinthians attested to his position (1 Cor.9.1-2) Am I not free? Am I not an apostle? Have I not seen Jesus our Lord? Are you not the result of my work in the Lord?2 Even though I may not be an apostle to others, surely I am to you! For you are the seal of my apostleship in the Lord. But this claim is not one that Paul constantly refers to. He actually only claims to be an apostle in Romans, 1 and 2 Corinthians and Galatians. In both Corinth and Galatia some denied that he was an apostle so it is here in his letters to them that he launches his defence. But in Romans he speaks from the outset as being an apostle perhaps because having never personally visited these churches he wants them to be clear from the outset that the gospel he proclaims is on the same standing and has the same authority behind it as that proclaimed by Peter and the twelve. He does not however have to defend his position as much in Rome as he does in Corinth and Galatia. But rather he gently reminds in Rom 11.13: 13 I am talking to you Gentiles. In as much as I am the apostle to the Gentiles, I take pride in my ministry. It is clear from this that Paul only therefore claims his apostleship when this has been called into question by others, and not on the basis that he needs this authority in order to be a witness to the gospel. Pauls self-professed authority comes from God himself via Jesus the Son. Paul claims this has come from his road to Damascus vision of Christ, and as such he believes that he speaks authoritatively as one the Lord trusts. For example, when speaking to the Corinthians on the subject of marriage (1 Cor 7.25) 25 Now about virgins: I have no command from the Lord, but I give a judgment as one who by the Lords mercy is trustworthy. Although he does at times directly speak of the Lords teachings; as when instructing about the proper way for the Lords supper to be celebrated (1Cor 9.14), 23 For I received from the Lord what I also passed on to you: The Lord Jesus, on the night he was betrayed, took bread, he does not regularly use the words of Jesus but claims that his authority comes directly from the Lord e.g.,for building up not tearing down (13.10). Scuhz1 argues that Authority is the interpretation of power and for Paul that power would be the gospel He claims that the thing that makes Paul so authoritative is his ability to interpret the gospel. This act of interpretation unlocks the source of power in the gospel and thereby makes that power accessible to those who respond in trust and obedience to it. Pauls ability to be a vessel of this power to people is what establishes his apostolic authority. Because the gospel has both an initial and ongoing task to accomplish in the community, Pauls authority extends past the initial acceptance of the gospel and well into the intricacies of the communities everyday forms, patterns and practices. His right to speak to the communities he founded arises out of the foundational power which they both have experienced, the gospel that he both mirrors in his life experience and which he preaches. The restraint on apostolic authority has its anchor in the nature and meaning of that same gospel. Power through weakness. No egotistical or authoritarian style for Paul. His authority and leadership are informed, shaped and regulated by the paradoxical content of the gospel he preaches. see I Cor 1:18ff Bibliography Dunn, James D G (ed), The Cambridge Companion to St Paul (Cambridge: CUP, 2003), especially the essays in Part 3. Furnish, Victor Paul, Theology and Ethics in Paul (Nashville: Abingdon, 1968). Longenecker, Richard (ed), The Road from Damascus: The Impact of Pauls Conversion on His Life, Thought, and Ministry (Grand Rapids, Michigan: Eerdmans, 1997). Malherbe, Abraham J, Paul and the Popular Philosophers (Minneapolis: Fortress, 2006). Sampley, J Paul, Walking between the Times: Pauls Moral Reasoning (Minneapolis: Fortress, 1991). Kim, Sayoon, Paul and the New Perspective: Second Thoughts on the Origin of Pauls Gospel (Grand Rapids: Eerdmans, 2002). 1Schà ¼tz, John Howard, Paul and the Anatomy of Apostolic Authority (Cambridge: CUP, 1975).

Lord Of The Flies - Symbolism :: essays research papers

In the book, Lord of the Flies, the author frequently uses symbolism. Symbolism-n 1: the art or practice of using symbols esp. by investing things with a symbolic meaning or by expressing the invisible or intangible by means of visible or sensuous representations. In other words, discussing or explaining a broader, more general topic by linking it symbolically with a specific event in a literary work. The superb use of symbolism in the book is one of the contributing factors to the profoundness of Lord of the Flies. This book is peppered with examples of symbolism, but the ones that stand out the most are: The breaking of Piggy’s spectacles, the representation of the littluns and Jack as the "people" and the government, and Simon’s conversation with the Lord of the Flies. The breaking of Piggy’s spectacles meant much more than the mere marring of a pair of glasses. ‘Ralph made a step forward and Jack smacked Piggy’s head. Piggy’s glasses flew off and tinkled on the rocks.’ "One side’s broken." This is somewhat of a turning point in the book. The breaking of Piggy’s spectacles symbolizes a mark at which rational influence decays as the story progresses. To better understand this, you must first know that Piggy himself is symbolized a grown-up figure, with intelligence and common sense. Looking back on the story, one can begin to realize how true this is. After Piggy’s glasses are broken, the fabric that holds the island society together begins to dissolve and everything goes awry. This discussion is perhaps the single most important part of the story, and may also be the most difficult part to understand. Another subtle, but important symbolization is the representation of the littluns as the "people", and Jack as the government. By using this symbolization, the author tries to express what he feels is wrong with modern government. This symbolization is shown in the book by a statement made by Jack. "What about the littluns?" "Sucks to the littluns!" "Somebody has to look after them" "Nobody has so far." By this, the author makes reference to the government (Jack), and how government officials disregard it’s "people" (littluns). The most deeply symbolic event in the book, is Simon’s discussion with the pig’s head, or the Lord of the Flies. "-and his gaze was held by that ancient, inescapable recognition. This statement is crucial to understanding the theme of Lord of the Flies.

Inflation Is Assumed

Inflation is assumed Chapter 1 True / False Questions 1. Inflation is assumed to be a temporary problem that does not affect financial decisions. FALSE 2. Financial Capital is composed of long-term plant and equipment, as well as other tangible investments. FALSE 3. Real Capital is composed of long-term plant and equipment. TRUE 4. During the 1930s, financial practice revolved around such topics as the preservation of capital, maintenance of liquidity, reorganization of financially troubled corporations and bankruptcy. TRUE 5. In the mid 1950s, finance began to change to a more analytical, decision-oriented approach.TRUE 6. Recently, the emphasis of financial management has been on the relationship between risk and return. TRUE 7. The most common partnership arrangement carries limited liability to the partners. FALSE 8. In terms of revenues and profits, the corporation is by far the most important form of business organization in the United States. TRUE 9. Dividends paid to corporat e stockholders have already been taxed once as corporate income. TRUE 10. One advantage of the corporate form of organization is that income received by stockholders is not taxable since the corporation already paid taxes on the income distributed.FALSE 11. A corporation must have more than 75 stockholders to qualify for Subchapter S designation. FALSE 12. Profits of a Subchapter S corporation are taxed at corporate tax rates. FALSE 13. Corporate governance issues have become less important to the financial community during the first decade of the new millennium. FALSE 14. Agency Theory examines the relationship between companies and their customers. FALSE 15. A major focus of the Sarbanes Oxley Act is to make sure that publicly traded companies accurately present their assets, liabilities and income in their financial statements.TRUE 16. The Sarbanes Oxley Act is primarily intended to increase public scrutiny of private companies that had previously been exempt from many public dis closure requirements. FALSE 17. Timing is not a particularly important consideration in financial decisions. FALSE 18. Maximizing the earnings of the firm is the goal of financial management. FALSE 19. Insider trading involves the use of information not available to the general public to make profits from trading in a company's stock. TRUE 20.Financial markets exist as a vast global network of individuals and financial institutions that may be lenders, borrowers, or owners of public companies worldwide. TRUE 21. Money markets refer to those markets dealing with short-term securities having a life of one year or less. TRUE 22. Money markets refer to markets where excess corporate cash is exchanged for foreign currencies that can earn a higher return than domestic money. FALSE 23. Capital markets refer to those markets dealing with short-term securities having a life of one year or less. FALSE 24. The primary market includes the sale of securities by way of initial public offerings.TR UE 25. High quality initial public offerings are usually sold in a primary market, such as the New York Stock Exchange. However, low-quality stocks must usually be sold in secondary markets, such as NASDAQ. FALSE 26. Although NASDAQ is a secondary market, some of the firms traded there, such as Microsoft, are large enough to move to the primary market if they so desire. FALSE 27. The secondary market characteristically has had stable prices over the past 20 years. FALSE 28. In the United States, stocks sold on either the New York Stock Exchange or NASDAQ are considered sold in the primary market.FALSE 29. New issues are sold in the secondary market. FALSE 30. Existing securities are traded in the secondary market. TRUE 31. Many companies have cross-listed their stock on multiple international stock exchanges and more than several hundred foreign companies have listed their shares on the New York Stock Exchange. TRUE 32. Financial management requires both short-term activities as wel l as long-term planning such as raising funds. TRUE Multiple Choice Questions 33. What is the primary goal of financial management? A. Increased earnings B. Maximizing cash flow C. Maximizing shareholder wealthD. Minimizing risk of the firm 34. In the past, the study of finance has included A. mergers and acquisitions. B. raising capital. C. bankruptcy. D. all of these. 35. Professor Merton Miller received the Nobel prize in economics for his work on   A. dividend policy. B. investment theory. C. working capital management. D. capital structure theory. 36. Professors Harry Markowitz and William Sharpe received their Nobel prize in economics for their contributions to the   A. options pricing model. B. theories of working capital management. C. theories of risk-return and portfolio theory. D. heories of international capital budgeting. 37. Proper risk-return management means that A. the firm should take as few risks as possible. B. the firm must determine an appropriate trade-off between risk and return. C. the firm should earn the highest return possible. D. the firm should value future profits more highly than current profits. 38. One of the major disadvantages of a sole proprietorship is   A. that there is unlimited liability to the owner. B. the simplicity of decision making. C. low organizational costs. D. low operating costs. 39. One of the major advantages of a sole proprietorship is   A. hat the owner has limited liability. B. that stock in the proprietorship can be easily transferred. C. that it is exempt from many tax rules that would otherwise apply when employees are hired by the firm. D. low operating costs. 40. The partnership form of an organization A. avoids the double taxation of earnings and dividends found in the corporate form of organization. B. usually provides limited liability to the partners. C. has unlimited life. D. simplifies decision making. 41. A corporation is A. owned by stockholders who enjoy the privilege of limited lia bility. B. easily divisible between owners.C. a separate legal entity with perpetual life. D. all of these. 42. With a Subchapter S corporation A. income is taxed as direct income to stockholders. B. stockholders have the same liability as members of a partnership. C. the number of stockholders is unlimited. D. life of the corporation is limited. 43. A Subchapter S corporation A. is similar to a partnership in that is carries unlimited liability. B. is a separate legal entity which is treated like a normal corporation. C. has all the organizational benefits of a corporation and its income is only taxed once. D. all of these. 44.Corporate governance is the A. relationship and exercise of oversight by the board of directors of the company. B. relationship between the chief financial officer and institutional investors. C. operation of a company by the chief executive officer (CEO) and other senior executives on the management team. D. governance of the company by the board of director s with a focus on social responsibility. 45. Many companies such as Tyco, Enron, and WorldCom that suffered financial distress in the late 1990s and early 2000s,   A. committed fraud. B. had failed corporate governance oversight. C. went bankrupt. D. ll of these are true. 46. Agency theory examines the relationship between the A. shareholders of the firm and the firm's investment banker. B. owners of the firm and the managers of the firm. C. board of directors and large institutional investors. D. shareholders and the firm's transfer agent. 47. Agency theory would imply that conflicts are more likely to occur between management and shareholders when   A. the company is owned and operated by the same person. B. management acts in the best interests of maximizing shareholder wealth. C. the chairman of the board is also the chief executive officer (CEO). D. he board of directors exerts strong and involved oversight of management. 48. Agency problems are least likely to arise in whi ch organizational form? A. sole proprietorship B. limited partnership C. corporation D. subchapter S corporation 49. Institutional investors are important in today's business world because   A. as large investors they have more say in how businesses are managed. B. they have a fiduciary responsibility to the workers and investors that they represent to see that the firms they own are managed in an ethical way. C. as a group they can vote large blocks of stock for the election of board members.D. all of these. 50. The increasing percentage ownership of public corporations by institutional investors has   A. had no effect on corporate management. B. created higher returns for the stock market in general. C. created more pressure on public companies to manage their firms more efficiently. D. taken away the voice of the individual investor. 51. The Sarbanes-Oxley Act was passed in an effort to A. protect small business from large corporations dominating the market. B. ensure that pa rtnerships divide profits among partners in a fair manner. C. guarantee outside auditors can control corporate accounting practices.D. control corrupt corporate behavior. 52. Maximization of shareholder wealth is a concept in which   A. increased earnings is of primary importance. B. profits are maximized on a quarterly basis. C. virtually all earnings are paid as dividends to common stockholders. D. optimally increasing the long-term value of the firm is emphasized. 53. Which of the following is not a true statement about the goal of maximizing shareholder wealth? A. It takes into account the timing of cash-flows. B. It is a short-run point of view which takes risk into account. C. It considers risk as a factor. D. None of these. 54.Insider trading occurs when A. someone has information not available to the public which they use to profit from trading in stocks. B. corporate officers buy stock in their company. C. lawyers, investment bankers, and others buy common stock in compan ies represented by their firms. D. any stock transactions occur in violation of the Federal Trade Commissions restrictions on monopolies. 55. The major difficulty in most insider-trading cases has been   A. that lenient judges have simply released the guilty individuals. B. that insider trading, even though illegal, actually serves a beneficial economic and financial purpose.C. that inside trades have not been legally well defined. D. inside trades actually have a beneficial effect on the wealth of all stockholders. 56. Money markets would include which of the following securities? A. common stock and corporate bonds. B. treasury bills and commercial paper. C. certificates of deposit and preferred stock. D. all of these. 57. Capital markets do not include which of the following securities:   A. common stock B. commercial paper C. government bonds D. preferred stock 58. When a corporation uses the financial markets to raise new funds, the sale of securities is made in the   A. rimary market. B. secondary market. C. on-line market. D. third market. 59. Corporate restructuring has been one result of more institutional ownership. Restructuring can cause   A. changes in the assets and liabilities of the firm. B. the sale of low-profit margin divisions. C. the removal of current management and/or large reductions in the workforce. D. all of these. 60. The internationalization of the financial markets has   A. allowed firms such as McDonalds to raise capital around the world. B. raised the cost of capital. C. forced companies to price everything in U. S. dollars. D. all of these. Chapter 2True / False Questions 61. The income statement is the major device for measuring the profitability of a firm over a period of time. TRUE 62. The income statement measures the increase in the assets of a firm over a period of time. FALSE 63. Operating profit is essentially a measure of how efficient management is in generating revenues and controlling expenses. TRUE 64. Ac counting income is based on verifiably completed transactions. TRUE 65. The P/E ratio is strongly related to the past performance of the firm. FALSE 66. When a firm has a sharp drop off in earnings, its P/E ratio may be artificially high. TRUE 67.The real value of a firm is the same from an economic and accounting perspective. FALSE 68. A balance sheet represents the assets, liabilities, and owner's equity of a company at a given point in time. TRUE 69. The investments account represents a commitment of funds of at least one year or more. TRUE 70. Asset accounts are listed in order of their liquidity. TRUE 71. Accumulated depreciation shows up in the income statement. FALSE 72. Total assets of a firm are financed with liabilities and stockholders equity. TRUE 73. Book value per share and market value per share are usually the same dollar amount. FALSE 74.Book value per share is of greater concern to the financial manager than market value per share. FALSE 75. Book value is equal to net worth. TRUE 76. Equity is a measure of the monetary contributions that have been made directly or indirectly on behalf of the owners of the company. TRUE 77. Stockholders' equity is equal to liabilities plus assets. FALSE 78. Retained earnings shown on the balance sheet represents available cash on hand generated from prior year's earnings but not paid out in dividends. FALSE 79. Retained earnings represent the firm's cumulative earnings since inception, minus dividends and other adjustments.TRUE 80. The statement of cash flows helps measure how the changes in a balance sheet were financed between two time periods. TRUE 81. Cash flow is equal to earnings before taxes minus depreciation. FALSE 82. An increase in an asset represents a source of funds. FALSE 83. Assume that two companies both have Net Income of $100,000. The firm with the highest depreciation expense will have the highest cash flow, assuming all other adjustments are equal. TRUE 84. An increase in inventory represe nts a source of funds. FALSE 85. An increase in a liability account represents a source of funds on the cash flow statement.TRUE 86. An increase in accounts receivable represents a reduction in cash flows from operations. TRUE 87. An increase in accounts payable represents a reduction in cash flows from operations. FALSE 88. The purchase of a new factory would reduce the cash flows from investing activities on the statement of cash flows. TRUE 89. The sale of corporate bonds held by the firm as a long-term investment would increase cash flows from investing activities on the statement of cash flows. TRUE 90. Paying dividends to common shareholders will not affect cash flows from financing activities. FALSE 91.The sale of a firm's securities is a source of funds, whereas the payment of dividends is a use of funds. TRUE 92. Depreciation is an accounting entry and does not involve a cash expense. TRUE 93. Free cash flow is equal to cash flow from operating activities minus necessary ca pital expenditures and normal dividend payments. TRUE 94. An increase in accounts receivable results in a cash inflow on the statement of cash flows. FALSE 95. A decrease in bonds payable results in a cash outflow on the statement of cash flows. TRUE 96. An increase in accrued expenses results in a cash outflow on the statement of cash flows.FALSE Multiple Choice Questions 97. Which of the following is not one of the three basic financial statements? A. Income Statement B. Statement of Retained Earnings C. Statement of Cash Flows D. Balance Sheet 98. Which of the following is not subtracted out in arriving at operating income? A. interest expense B. cost of goods sold C. depreciation D. selling and administrative expense 99. Increasing interest expense will have what effect on EBIT? A. increase it B. decrease it C. no effect D. not enough information to tell 100. The residual income of the firm belongs to A. creditors. B. preferred stockholders.C. common stockholders. D. bondholders . 101. Allen Lumber Company had earnings after taxes of $580,000 in the year 2006 with 400,000 shares outstanding on December 31, 2006. On January 1, 2007, the firm issued 35,000 new shares. Because of the proceeds from these new shares and other operating improvements, 2007 earnings after taxes were 25 percent higher than in 2006. Earnings per share for the year-end 2007 was   A. $1. 67 B. $1. 45 C. $1. 81 D. None of these 102. Consider the following information for Ball Corp. [pic] What is the Operating Profit for Ball Corp? A. $71,450 B. $90,000 C. 120,000 D. None of these 103. Candy Company had sales of $240,000 and cost of goods sold of $108,000. What is the gross profit margin (ratio of gross profit to sales)? A. 75% B. 55% C. 73. 3% D. None of these 104. Density Farms, Inc. had sales of $500,000, cost of goods sold of $180,000, selling and administrative expense of $70,000, and operating profit of $90,000. What was the value of depreciation expense? A. $170,000 B. $230,000 C. Less than $170,000 D. None of these 105. Elgin Battery Manufacturers had sales of $900,000 in 2006 and their cost of goods sold represented 65 percent of sales.Selling and administrative expenses were 9 percent of sales. Depreciation expense was $10,000 and interest expense for the year was $8,000. The firm's tax rate is 30 percent. What is the dollar amount of taxes paid? A. $151,200 B. $145,800 C. More than $151,800 D. None of these 106. A firm with earnings per share of $5 and a price-earnings ratio of 15 will have a stock price of   A. $20. 00 B. $75. 00 C. $3. 00 D. the market assigns a stock price independent of EPS and the P/E ratio. 107. Earnings per share is A. operating profit divided by number of shares outstanding. B. et income divided by number of shares outstanding. C. net income divided by stockholders' equity. D. net income minus preferred dividends divided by number of shares outstanding. 108. Reinvested funds from retained earnings theoretically belong to:   A. bond holders. B. common stockholders. C. employees. D. all of these. 109. The firm's price-earnings (P/E) ratio is influenced by its   A. capital structure. B. earnings volatility. C. sales, profit margins, and earnings. D. all of these. 110. Which of the following factors do not influence the firm's P/E ratio:   A. past earnings. B. shares outstanding.C. volatility in performance. D. none of these. 111. Which of the following would not be classified as a current asset? A. Marketable securities B. Investments C. Prepaid expenses D. Inventory 112. An item which may be converted to cash within one year or one operating cycle of the firm is classified as a   A. current liability. B. long-term asset. C. current asset. D. long-term liability. 113. Which of the following would not be included in the balance sheet investment account? A. stocks of other corporations B. long term government bonds C. marketable securities D. investments in other corporations 14. Which of the followi ng is not a primary source of capital to the firm? A. assets B. common stock C. preferred stock D. bonds 115. The major limitation of financial statements is A. in their complexity. B. in their lack of comparability. C. in their use of historical cost accounting. D. in their lack of detail. 116. Net worth is equal to stockholders' equity A. plus dividends. B. minus preferred stock. C. plus preferred stock. D. minus liabilities. 117. Book value is the same as A. stockholders' equity. B. fixed assets minus long-term debt. C. net worth. D. current assets minus current debt. 118.Total stockholders' equity consists of A. preferred stock and common stock. B. common stock and retained earnings. C. common stock and capital paid in excess of par. D. preferred stock, common stock, capital paid in excess of par and retained earnings. 119. The net worth of a firm A. is usually the same as the firm's market value. B. is based on current asset costs. C. is based on current liabilities. D. none of these. 120. The orientation of book value per share is __________, while the orientation of market value per share is ___________. A. short term, long term B. future, historical C. historical, future D. ong term, short term 121. A statement of cash flows allows a financial analyst to determine   A. whether a cash dividend is affordable. B. how increases in asset accounts have been financed. C. whether long-term assets are being financed with long-term or short-term financing. D. all of these. 122. A firm's purchase of plant and equipment would be considered a   A. use of cash for financing activities. B. use of cash for operating activities. C. source of cash for investment activities. D. use of cash for investment activities. 123. Depreciation is a source of cash inflow because A. it is a tax-deductible non-cash expense.B. it supplies cash for future asset purchases. C. it is a tax-deductible cash expense. D. it is a taxable expense. 124. Depreciation tends to A. increase cash flow and decrease income. B. decrease cash flow and increase income. C. affect only cash flow. D. affect only income. 125. Given the following, what is free cash flow? [pic] A. $115,000. B. $235,000. C. $185,000. D. $165,000. 126. Assuming a tax rate of 35%, depreciation expenses of $400,000 will   A. reduce income by $140,000. B. reduce taxes by $140,000. C. reduce taxes by $400,000. D. have no effect on income or taxes, since depreciation is not a cash expense. 27. Assuming a tax rate of 30%, the after-tax cost of interest expense of $200,000 is   A. $60,000 B. $140,000 C. $200,000 D. $120,000 128. Assuming a tax rate of 40%, the after-tax cost of a $200,000 dividend payment is   A. $200,000 B. $70,000 C. $130,000 D. none of these. 129. Farah Snack Co. has earnings after taxes of $128,750. Interest expense for the year was $20,000; preferred dividends paid were $18,750; and common dividends paid were $30,000. Taxes were $15,000. The firm has 100,000 shares of common stock o utstanding. Earnings per share on the common stock was   A. $0. 90 B. $1. 10 C. $0. 5 D. $0. 80 130. Gerry Co. has a gross profit of $880,000 and $360,000 in depreciation expense. Selling and administrative expense is $120,000. Given that the tax rate is 40 percent, compute the cash flow for Gerry Co. A. $456,000 B. $240,000 C. $600,000 D. None of these 131. Hoover Inc. has current assets of $360,000 and fixed assets of $640,000. Current liabilities are $90,000 and long-term liabilities are $160,000. There is $90,000 in preferred stock outstanding and the firm has issued 10,000 shares of common stock. Compute book value (net worth) per share   A. $84. 00 B. $66. 00 C. $75. 00D. None of these 132. The best indication of the operational efficiency of management is   A. net income. B. earnings per share. C. earnings before interest and taxes (EBIT). D. gross profit. 133. A corporation can increase their earnings per share by   A. increasing tax-deductible expenses B. increasing Treasury stock C. decreasing depreciation D. decreasing retained earnings From End of the Chapter 2 Problems 5. Given the following information, prepare, in good form, an income statement for Goodman Software, Inc. Selling and administrative expense$ 50,000 Depreciation expense80,000 Sales400,000Interest expense30,000 Cost of goods sold150,000 Taxes18,550 2-5. Solution: Goodman Software, Inc. Sales$ 400,000 Cost of goods sold 150,000 Gross Profit250,000 Selling and administrative expense50,000 Depreciation expense 80,000 Operating profit120,000 Interest expense 30,000 Earnings before taxes90,000 Taxes 18,550 Earnings after taxes$ 71,450 6. Given the following information prepare in good form an income statement for the Kid Rock and Gravel Company. Selling and administrative expense$ 60,000 Depreciation expense70,000 Sales470,000 Interest expense40,000 Cost of goods sold140,000Taxes45,000 2-6. Solution: Kid Rock and Gravel Co. Income Statement Sales$ 470,000 Cost of goods sold$ 140, 000 Gross profit$ 330,000 Selling and administrative expense$ 60,000 Depreciation expense$ 70,000 Operating profit$ 200,000 Interest expense$ 40,000 Earnings before taxes$ 160,000 Taxes$ 45,000 Earnings after taxes$ 115,000 7. Prepare in good form an income statement for Virginia Slim Wear. Take your calculations all the way to computing earnings per share. Sales$600,000 Shares outstanding100,000 Cost of goods sold200,000 Interest expense30,000 Selling and administrative expense40,000Depreciation expense20,000 Preferred stock dividends80,000 Taxes100,000 2-7. Solution: Virginia Slim Wear Income Statement Sales$600,000 Cost of goods sold 200,000 Gross profit400,000 Selling and administrative expense40,000 Depreciation expense 20,000 Operating profit340,000 Interest expense 30,000 Earnings before taxes310,000 Taxes 100,000 Earnings after taxes210,000 Preferred stock dividends80,000 Earnings available to common stockholders130,000 Shares outstanding100,000 Earnings per share$ 1. 30 8. Prepare in good form an income statement for Franklin Kite Co. , Inc.Take your calculations all the way to computing earnings per share. Sales$900,000 Shares outstanding50,000 Cost of goods sold400,000 Interest expense40,000 Selling and administrative expense60,000 Depreciation expense20,000 Preferred stock dividends80,000 Taxes50,000 2-8. Solution: Franklin Kite Company Income Statement Sales$900,000 Cost of goods sold400,000 Gross profit500,000 Selling and administrative expense60,000 Depreciation expense20,000 Operating profit$420,000 Interest expense40,000 Earnings before taxes$380,000 Taxes50,000 Earnings after taxes$330,000 Preferred stock dividends80,000Earnings available to common stockholders250,000 Shares outstanding50,000 Earnings per share$5. 00 9. Lasar Technology, Inc. , had sales of $500,000, cost of goods sold of $180,000, selling and administrative expense of $70,000, and operating profit of $90,000. What was the value of depreciation expense? Set this problem up as a partial income statement, and determine depreciation expenses as the plug figure. 2-9. Solution: Lasar Technology, Inc. Sales$500,000 Cost of goods sold $180,000 Gross Profit$320,000 Selling and administrative expense70,000 Depreciation Expense (plug figure) 160,000Operating profit$ 90,000 10. The Ace Book Company sold 1,500 finance textbooks for $185 each to High Tuition University in 2008. These books cost Ace $145 to produce. Ace spent $10,000 (selling expense) to convince the university to buy its books. In addition, Ace borrowed $80,000 on January 1, 2008, on which the company paid 10 percent interest. Both interest and principal of the loan were paid on December 31, 2008. Ace’s tax rate is 25 percent. Depreciation expense for the year was $15,000. Did Ace Book Company make a profit in 2008? Please verify with an income statement presented in good form. -10. Solution: Ace Book Company Sales (1,500 books at $185 each)277,500 Cost of goods sold (1,500 books at $145 each ) 217,500 Gross Profit60,000 Selling expense10,000 Depreciation expense 15,000 Operating profit†¦Ã¢â‚¬ ¦35,000 Interest expense 8,000 Earnings before taxes27,000 Taxes @ 25% 6,750 Earnings after taxes20,250 11. Carr Auto Wholesalers had sales of $900,000 in 2004 and their cost of goods sold represented 65 percent of sales. Selling and administrative expenses were 9 percent of sales. Depreciation expense was $10,000 and interest expense for the year was $8,000.The  firm’s tax rate is 30 percent. a. Compute earnings after taxes. b. Assume the firm hires Ms. Hood, an efficiency expert, as a consultant. She suggests that by increasing selling and administrative expenses to 12 percent of sales, sales can be increased to $1,000,000. The extra sales effort will also reduce cost of goods sold to 60 percent of sales (there will be a larger markup in prices as a result of more aggressive selling). Depreciation expense will remain at $10,000. However, more automobiles will have t o be carried in inventory to satisfy customers, and interest expense will go up to $15,000.The firm’s tax rate will remain at 30 percent. Compute revised earnings after taxes based on Ms. Hood’s suggestions for Carr Auto Wholesalers. Will her ideas increase or decrease profitability? 2-11. Solution: Carr Auto Wholesalers Income Statement a. Sales$ 900,000 Cost of goods old (65% of sales) 585,000 Gross Profit$ 315,000 Selling and administrative expense (9% of sales) 81,000 Depreciation 10,000 Operating profit 224,000 Interest expense 8,000 Earnings before taxes 216,000 Taxes @ 30% 64,800 Earnings after taxes $ 151,200 2-11. (Continued) b. Sales $1,000,000Cost of goods sold (60% of sales) 600,000 Gross profit 400,000 Selling and administrative expense (12% of sales) 120,000 Depreciation 10,000 Operating profit 270,000 Interest expense 15,000 Earnings before taxes 255,000 Taxes @ 30% 76,500 Earnings after taxes$ 178,500 Ms. Hood’s ideas will increase profits. 15. E lite Trailer Parks has an operating profit or $200,000. Interest expense for the year was $10,000; preferred dividends paid were $18,750; and common dividends paid were $30,000. The tax was $61,250. The firm has 20,000 shares of common stock outstanding. . Calculate the earnings per share and the common dividends per share for Elite Trailer Parks. b. What was the increase in retained earnings for the year? 2-15. Solution: Elite Trailor Parks a. Operating profit (EBIT)$200,000 Interest expense 10,000 Earnings before taxes (EBT)$190,000 Taxes 61,250 Earnings after taxes (EAT)$128,750 Preferred dividends 18,750 Available to common stockholders$110,000 Common dividends 30,000 Increase in retained earnings$80,000 [pic] Dividends per Share = $30,000/20,000 shares = $1. 50 per share b. Increase in retained earnings = $80,000 16.Johnson Alarm Systems had $800,000 of retained earnings on December 31, 2008. The company paid common dividends of $60,000 in 2008 and had retained earnings of $640 ,000 on December 31, 2007. How much did Johnson earn during 2008, and what would earnings per share be if 50,000 shares of common stock were outstanding? 2-16. Solution: Johnson Alarm Systems Retained earnings, December 31, 2008$800,000 Less: Retained earnings, December 31, 2007 640,000 Change in retained earnings$160,000 Add: Common stock dividends 60,000 Earnings available to common stockholders$220,000 Earnings per share [pic] 17.Mozart Music Co. had earnings after taxes of $560,000 in 2008 with 200,000 shares of stock outstanding. The stock price was $58. 80. In 2009, earnings after taxes increased to $650,000 with the same 200,000 shares outstanding. The stock price was $78. 00 a. Compute earnings per share and the P/E ratio for 2008. The P/E ratio equals the stock price divided by earnings per share. b. Compute earnings per share and the P/E ratio for 2009. c. Give a general explanation of why the P/E changed. 2-17. Solution: Mozart Music Co. a. EPS (2008)[pic] = $2. 80 P/E Ra tio (2008)= Price/EPS =[pic] = 21X b. EPS (2009)[pic] = $3. 5 P/E Ratio (2009)= Price/EPS=[pic]= 24X c. The stock price increased by 34% while EPS only increased 16. 1%. 20. Nova Electrics anticipated cash flow from operating activities of $6 million in 2008. It will need to spend $1. 2 million on capital investments in order to remain competitive within the industry. Common stock dividends are projected at $. 4 million and preferred stock dividends at $. 55 million. a. What is the firm’s projected free cash flow for the year 2008? b. What does the concept of free cash flow represent? 2-20. Solution: Nova Electronics a. Cash flow from operations activities$6. 0 million – Capital Expenditures1. 20 – Common stock dividends. 40 – Preferred stock dividends . 55 Free cash flow$3. 85 million b. Free cash flow represents the funds that are available for special financial activities, such as a leveraged buyout, increased dividends, common stock repurchases, acqui sitions, or repayment of debt. 21. The Rogers Corporation has a gross profit of $880,000 and $360,000 in depreciation expense. The Evans Corporation also has $880,000 in gross profit, with $60,000 in depreciation expense. Selling and administrative expense is $120,000 for each company.Given that the tax rate is 40 percent, compute the cash flow for both companies. Explain the difference in cash flow between the two firms. 2-21. Solution: Rogers Corporation – Evans Corporation | |Rogers |Evans | |Gross profit |$880,000 |$880,000 | |Selling and adm. expense |120,000 |120,000 | |Depreciation |360,000 60,000 | |Operating profit |$400,000 |$700,000 | |Taxes (40%) |160,000 |280,000 | |Earnings after taxes |$240,000 |$420,000 | |Plus depreciation expense |$360,000 |$60,000 | |Cash Flow |$600,000 |$480,000 | | | |Rogers had $300,000 more in depreciation which provided $120,000 (0. 40 ( $300,000) more in cash flow. | | | 22. Horton Electronics has current assets of $320,000 and fi xed assets of $640,000. Current liabilities are $90,000 and long-term liabilities are $160,000. There is $90,000 in preferred stock outstanding and the firm has issued 40,000 shares of common stock. Compute book value (net worth) per share. 2-22. Solution: Horton Energy Company Current assets |$320,000 | |Fixed assets |640,000 | |Total assets |$960,000 | |–Current liabilities |90,000 | |–Long-term liabilities |160,000 | |Stockholders’ equity |$710,000 | |–Preferred stock obligation |90,000 | |Net worth assigned to common $620,000 | | | | |Common shares outstanding |40,000 | | | | |Book value (net worth) per share |$15. 50 | 23. The Holtzman Corporation has assets of $400,000, current liabilities of $50,000, and long-term liabilities of $100,000. There is $40,000 in preferred stock outstanding; 20,000 shares of common stock have been issued. a. Compute book value (net worth) per share. b. If there is $22,000 in earnings available to common stockholders a nd Holtzman’s stock has a P/E of 18 times earnings per share, what is the current price of the stock? c. What is the ratio of market value per share to book value per share? 2-23. Solution: Holtzman Corporation |a.Total assets |$400,000 | |–Current liabilities |50,000 | |–Long-term liabilities |100,000 | |–Stockholders’ equity |$250,000 | |–Preferred stock |40,000 | |Net worth assigned to common |$210,000 | |Common shares outstanding |20,000 | |Book values (net worth) per share |$10. 50 | |b. Earnings available to common |$22,000 | |Shares outstanding |20,000 | |Earnings per share |$1. 10 | | [pic] | |c.Market value per share (price) to book value per share $19. 80/$10. 50 = 1. 89 | 24. Bradley Gypsum Company has assets of $1,900,000, current liabilities of $700,000, and long-term liabilities of $580,000. There is $170,000 in preferred stock outstanding; 30,000 shares of common stock have been issued. a. Compute book value (net worth) per share. b. If there is $42,000 in earnings available to common stockholders and Bradley’s stock has a P/E of 15 times earnings per share, what is the current price of the stock? c. What is the ratio of market value per share to book value per share? 2-24. Solution: Bradley Gypsum Company |a.Total assets |$1,900,000 | |–Current liabilities |700,000 | |–Long-term liabilities |580,000 | |Stockholders’ equity |$ 620,000 | |–Preferred stock |170,000 | |Net worth assigned to common |$ 450,000 | |Common shares outstanding |30,000 | |Book values (net worth) per share |$ 15. 00 | |b. Earnings available to common | | |stockholders |$ 42,000 | |Shares outstanding |30,000 | |Earnings per share |$ 1. 40 | | [pic] | |c.Market value per share (price) to book value per share $21. 00/$15. 00 = 1. 40 | Chapter 14 True / False Questions 148. Capital markets consist of securities having maturities greater than one year. TRUE 149. The capital structure of the f irm consists of long-term debt and equity. TRUE 150. Capital markets are becoming increasingly international as investors and issuers seek out the best risk-return opportunities. TRUE 151. Upon entering the capital markets, an investor might invest in common stocks, preferred stock, negotiable certificates of deposit, and convertible securities. FALSE 152.In the last decade, the US has invested substantially more in foreign countries than foreign countries have invested back in the US. FALSE 153. Municipal securities are called tax exempt because no federal taxes must be paid on interest received. TRUE 154. The stock market far exceeds the bond market in terms of size of new capital raised. FALSE 155. The capital markets serve as a way of allocating available capital to the most efficient user. TRUE 156. The main reason for the small amount of financing with preferred stock is that dividends on preferred stock are not tax deductible as are interest paid on bonds. TRUE 157. Retained earnings account for the majority of internally generated corporate funds. FALSE 158.When an investor buys stock in the stock market, he is purchasing shares from a company. FALSE 159. Internal funds generated by corporations include retained earnings and non cash expenses such as depreciation and deferred taxes. TRUE 160. Households and the government are mainly considered to be suppliers of funds while corporations are generally considered users of funds. FALSE 161. Financial intermediaries channel funds into the capital markets from the household sector. TRUE 162. Brokers on an organized stock exchange act as an agent for the person buying or selling securities. TRUE 163. Brokers actually own the securities they buy and sell on the floor of the exchange. FALSE 164.The NASDAQ National Market is composed of large nation-wide companies that are traded in the over-the-counter market. TRUE 165. The strong form of the efficient market hypothesis states that prices reflect all public in formation. FALSE 166. The efficient market hypothesis is generally concerned with the impact of information on the behavior of stock prices. TRUE 167. The weak form of the efficient market hypothesis states that an investor can profit by using past price data. FALSE 168. Markets are efficient when prices adjust rapidly to new information, continuous markets exist and large dollar trades can be absorbed without large price movements. TRUE 169.The Sarbanes-Oxley Act of 2002 holds the CEO legally accountable for the accuracy of their firm's financial statements. TRUE 170. The Sarbanes-Oxley Act of 2002 holds a firm's internal auditors legally accountable for the accuracy of their firm's financial statements. FALSE 171. The future of the NYSE is uncertain due to their unwillingness to adapt to the increase in internationalization and electronic trading in the markets. FALSE Multiple Choice Questions 172. Evidence of how global markets are linked was provided in 1997 and 1998 when intern ational markets reacted to   A. the collapse of Asian currencies in Thailand, Indonesia, Malaysia and Korea. B. Russia's default on its sovereign debt. C. Japan's seven years of economic stagnation.D. a and b are true. 173. When global capital markets collectively react to international events like Russia's default on its sovereign debt, it is common to find   A. that there is no impact on multinational companies' ability to raise capital. B. an impact on the ability to raise capital. C. that Wall Street firms are so diversified that they are not affected by this event. D. All of these are true. 174. Which of the following is not a money market instrument? A. Treasury bills B. Commercial paper C. Negotiable certificates of deposit D. Treasury bonds 175. Global capital markets are influenced by A. interest rates. B. investor confidence. C. elative economic growth. D. all of these. 176. Companies list their stock around the globe to A. capitalize on the inefficiency inherent in fo reign markets. B. increase liquidity for their stockholders. C. provide opportunities for the sale of new stock in foreign countries. D. b and c are correct. 177. Foreign investors have preferred to invest in the United States due to all but one of the following reasons:   A. less stringent regulation of securities markets. B. political stability of the U. S. government. C. the U. S. dollar is the world's international currency. D. all of these are reasons that foreign investors prefer to invest in the United States. 178.With respect to the United States and its relationship with the rest of the world, it can be said that   A. the U. S. has invested more dollars in the rest of the world than foreign countries have invested in the U. S. B. the U. S. has actively helped foreign countries finance their government deficits. C. foreign investors hold large positions in U. S. government securities. D. All of these. 179. Financial instruments in the capital markets generally fall under what category in the Balance Sheet? A. Short-term liabilities and equities. B. Long-term liabilities and equities. C. Near cash assets. D. None of these. 180. Corporations prefer bonds over preferred stock for financing their operations because   A. referred stocks require a dividend. B. bond interest rates change with the economy while stock dividends remain constant. C. the after-tax cost of debt is less than the cost of preferred stock. D. none of these. 181. Federally sponsored credit agencies include all but which of the following? A. Securities Investor Protection Corporation (SIPC) B. Federal Home Loan Banks (FHLB) C. Student Loan Marketing Association (Sallie Mae) D. Federal National Mortgage Association (Fannie Mae) 182. Which of the following is an internal source of funds? A. Cash flow from depreciation (tax shield) B. Net loss C. Repurchase of debt securities D. Bank loan 183.The major supplier of funds for investment in the whole economy is   A. businesses. B. hous eholds. C. government. D. financial institutions. 184. Financial intermediaries serve which of the following purposes? A. Financial intermediaries allow for indirect investment in the capital markets by households. B. Aid in the flow of funds through the economy. C. Help provide allocation of funds to the best investments. D. All of these. 185. Which of the following are benefits of financial intermediaries? A. Increase market liquidity B. Provide a direct market for investors C. Act as agents of the government D. Only a and b 186. The purpose of secondary trading is to A. rovide liquidity and competition between investments. B. provide a market to issue securities not handled in primary trading. C. provide jobs for brokers and dealers. D. provide lower commissions than on the organized exchanges. 187. The most important capital markets in the world (in terms of dollar value) are located in   A. New York. B. London. C. Toronto. D. Tokyo. 188. Which Stock Exchange is known as the m ost liquid? A. NASDAQ B. AMEX C. CBOT D. NYSE 189. Middle to small size companies that are centered in one city or state would most likely be found on the   A. NASDAQ National Market. B. NASDAQ Small Cap Market. C. Supplemental list. D. New York Stock Exchange. 190.The emergence of trading via ECNs has A. offer a unique advantage not offered by the NYSE B. lowered the cost of trading. C. made trading more difficult for small investors. D. all of these are true. 191. Which of the following is not a criterion for an efficient market? A. Prices adjust rapidly to new information. B. Large dollar amounts of securities can be absorbed without price destabilization. C. Each successive trade is made at a price close to the previous trade. D. Computerized handling of transactions. 192. Security markets are efficient when each of the following exist except   A. security prices follow the leading indicators such as the DJIA very closely. B. he markets can absorb large dollar amounts of sto ck without destabilizing the price. C. prices adjust rapidly to new information. D. there is a continuous market where each successive trade is made at a price close to the previous trade. 193. The efficient market hypothesis deals primarily with   A. random speculation in securities. B. the degree to which prices adjust to new information. C. degrees to which price movements are the result of past trends. D. how an investor can significantly outperform the market in general. 194. The efficient market hypothesis has several forms. The weak form states that   A. past price data is unrelated to future prices. B. prices reflect all public information. C. ll information both public and private is immediately reflected in stock prices. D. none of these 195. Security markets provide liquidity A. by allowing corporations to raise funds by selling new issues. B. by creating a market in which owners may easily turn an investment into cash through its sale. C. a and b are both correct. D. neither a nor b are correct. 196. The semi-strong form of the efficient market hypothesis states that   A. past price data is unrelated to future prices. B. prices reflect all public information. C. all information both public and private is immediately reflected in stock prices. D. none of these 197. The strong form of the efficient market hypothesis states that   A. ast price data is positively correlated to future prices. B. prices reflect all public information. C. all information both public and private is immediately reflected in stock prices. D. none of these 198. Security markets are affected by all of the following except:   A. interest rates B. global crises C. book values of equity D. emotions 199. Financial intermediaries include all of the following except:   A. commercial banks B. life insurance companies C. corporations D. pension plans 200. The purposes of security legislation include all of the following except:   A. protect against fraud B. ensure market efficiency C. reduce insider trading D. provide a global competitive advantage

Lottery Addiction: Its Effects on the Respondents’ Economic Status in Nasugbu, Batangas

LOTTERY ADDICTION: ITS EFFECTS ON THE RESPONDENTS’ ECONOMIC STATUS IN NASUGBU, BATANGAS A Research Paper Presented to MR. JOSEPH B. EVANGELISTA Nasugbu Christian Faith Academy, Inc. In Partial Fulfillment Of the Requirements as Secondary Graduates by Sibelle Justine L. Gallivo Richard Jason R. Dastas Angelica B. Magpantay Ronnel Aries B. Ilao Mark Bryan A. Urena Regine N. Antazo Alfred C. Drio March 2010  ©2010 Sibelle Justine L. Gallivo Richard Jason R. Dastas Angelica B. Magpantay Ronnel Aries B. Ilao Mark Bryan A. Urena Regine N. Antazo Alfred C. DrioAll Rights Reserve ABSTRACT Title:Lottery Addiction: Its Effect on the Respondents’ Economic Status in Nasugbu, Batangas 2. Researchers :Sibelle Justine L. Gallivo Alfred C. Drio Angelica B. Magpantay Mark Bryan A. Urena Regine N. Antazo Richard Jason R. Dastas Ronnel Aries B. Ilao 3. Publication 3. 1Date: 3. 2Place: 3. 3Region: IV-A CALABARZON 4. Institution 4. 1Name: Nasugbu Christian Faith Academy, Inc. 4. 2School Y ear: 2009-2010 5. Statement of the Problem 1. Personal profile of the respondents in terms of: 1. 1 sex 1. 2 civil status 1. 3 salary range 2.What are the effects of lottery to the economic status of the respondents? 3. What is the relationship of the respondents; bet to their employment status? 4. Who usually give the biggest bet: employed or unemployed? 5. Who usually play lotto: employed or unemployed? 6. What are the advantages and disadvantages of playing lotto? 6. Summary of Findings Profile of Respondents With the total of fifteen (15) respondents, nine (9) or 60% were female while six (6) were males eleven (11) or 73. 3% were married while four (4) or 26. 7% were single by civil status; eight (8) or 53. % of the respondents falls on salary bracket of Php 1,500 t0 5,000, four (4) or 26. 7% with no salary , two (2) or 13. 3% range a salary from Php 10,000 to 20,000 while a salary range of Php. 30,000 and above has one (1) or 6. 7%. Effects of Lottery to the Respondent’s Economic Status Most of the enumerated effects listed by the respondents were affects the budget of the family resulting to the increase of allotted budget; affects the family relationship due to additional burden brought by playing lotto; intentional use of budget allotted to the children’s needs, and; highly emphasized fall of economic status.Relationship of Respondents bet to their Employment Status Employed versus unemployed status of the respondents established outstanding relationship with their bet. Eleven (11) or 73. 3% were employed thus give there usual or bigger bet compared to four (4) or 26. 6% unemployed. Usual Lotto players between employed and unemployed Employed respondents were the major lotto player since they have the means to gamble as compared to unemployed respondents. Advantages and Disadvantages Most of the respondents believed that playing lotto can only give hope of becoming rich through winning the jackpot prize.Most likely playing lotto was disad vantages: fall of their economic status; family budget/allocation suffered; unwise use of the money; becoming unproductive citizen; lead to addiction thus committing unacceptable actions due to gambling 7. Conclusions 1. Since majority of the respondents were married and female, they invest their future through playing lotto hoping to win the jackpot prize. 2. Since most of the respondents were employed, they have the high tendency of playing lotto because of their source of money as well as the tendency to put the biggest bet. . Since the respondents feels the negative effects of playing lotto in their economic status they would probably limit or refrained from playing lotto. 4. Since lotto playing was disadvantageous, the respondents surely realized its implication to their family as well as to the community. 8. Recommendations 1. Instead of investing family’s future through the chance of luck, find a real and long-term job that will secure your future, better to gain the v alue of worth rather than relying on your chance. 2.Lotto fanatics should not rely much on winning since it is computer operated this east to manipulate. 3. Employed lotto players should not give their biggest bet although they gave the means or source to gamble. 4. Male use/spend family’s budget wisely instead of gambling in lotto. 5. Local Authorities should impose law governing the age allowed to bet in lotto since it is a form of gambling. 6. Avoid becoming addicted in playing lotto since it is disadvantages in nature. 7. Further study about this interesting topic for future preference. APPROVAL SHEETThis research paper entitled, â€Å"LOTTERY ADDICTION: ITS EFFECTS ON THE RESPONDENTS’ ECONOMIC STATUS IN NASUGBU, BATANGAS†, prepared and submitted by Sibelle Justine L. Gallivo, Richard Jason R. Dastas, Angelica B. Magpantay, Ronnel Aries B. Ilao, Mark Bryan A. Urena, Regine N. Antazo, and Alfred C. Drio in partial fulfilment of the requirements as Secondary G raduating Students, has been examined and approved by our Research Teacher, MR. JOSEPH B. EVANGELISTA, with a grade of _____________. Accepted and approved, _____________________ Mr. Joseph B. Evangelista ACKNOWLEDGMENTThe researchers sincerely acknowledge their debt of gratitude to those in one way or another contributed and gave assistance to the preparation and completion of this study. Mr. Joseph B. Evangelista, for providing original ideas and opinions which made the completion of this study possible. Our Parents, who gave us financial aid and supported us morally that serves as our strength. The Borja Family, who helped us in distributing our questionnaires. Our Relatives and Friends, who shared their wisdom, time and effort as well as their suggestions valuable to our study.Our Alma Mater, Nasugbu Christian Faith Academy, Inc. , for the support, knowledge and for molding us to become productive and inytellectual students capable of competing in all aspect. To our Respondents, for their time, effort and invaluable assistance in answering the questionnaires that serves as our main source of informations. And above all, to Our Almighty Creator, for gracing us strength, wisdom and holy guidance as we accomplish all these things. A. B. M. A. C. D. M. A. U. R. N. A. R. R. D. R. B. I. S. L. G. DEDICATION To our beloved parents: Mr. and Mrs. Regino Antazo Mr. nd Mrs. Joseph Dastas Mr. and Mrs. Christopher Drio Mr. and Mrs. Christopher Gallivo Mr. and Mrs. Antonio Ilao Mr. and Mrs. Noeh Magpantay Mr. and Mrs. Lourdeliza Urena To our brothers and sisters: Angelo Magpantay Christopher Drio Jr. Jerome Dastas Rose Marie Eliza Raizza Mae Dastas Ray Anthony Ilao Reynaldo Antazo Resty Antazo Richel Antazo Rose Marie Eliza Antaso Ruby Antazo Ruel Antazo Ruiter Allan Ilao This piece of work is humbly dedicated. The Researchers TABLE OF CONTENTS Page Title pagei Copyright Pageii Abstractiii Approval Sheetvi Acknowledgementvii Dedicationviii Chapter I.THE PROBLEM AND ITS B ACKGROUND Introduction1 Statement of the Problem3 Statement of the Hypothesis3 Assumptions3 Significance of the Study4 Scope and Limitation of the Study4 Definition of Terms4 II. REVIEW OF RELATED LITERATURES AND STUDIES Foreign Literature6 Local Literature6 Foreign Studies12 Local Studies15 III. METHODS OF RESEARCH AND PROCEDURE Design and Method of Research19 Sample and Sampling Techniques Used19 Statistical Treatment of Data21 IV. PRESENTATION, ANALYSIS AND INTERPRETATION OF DATA Sub-problem 1. What is the profile the respondent’s terms of: 1. sex 2. civil status 3. alary range22 Sub-problem 2. What are the effects of lottery to the economic status of the respondents? 22 Sub-problem 3. What is the relationship of the respondents bet to their employment status? 22 Sub-problem 4. Who usually give the biggest bet: employed or unemployed? 23 Sub-problem 5. Who usually play lotto: employed or unemployed? 23 Sub-problem 6. What are the advantages and disadvantages of playing lot to? 23 V. SUMMARY OF FINDINGS, CONCLUSIONS AND RECOMMENDATIONS Summary 25 Findings25 Conclusions26 Recommandations27 BIBLIOGRAPHY28 APPENDICE A. Questionnaires CURRICULUM VITAE29

Good Organization Is Good Strategy With Lindsay Scarpello From OBI Creative

Good Organization Is Good Strategy With Lindsay Scarpello From OBI Creative Does it feel like you are trying to herd cats? Managing your marketing that way is not strategic. Get organized to manage your time, help you predict how long projects will take, and plan ahead to get real results. Today, we’re talking to Lindsay Scarpello, an organizational mastermind with a background in journalism. Marketers need to think like journalists. Learn organizational and time management skills, as well as how processes and workflows are imperative for success. Some of the highlights of the show include: Lindsay’s role at OBI Creative, a research and communications advertising agency Lindsay’s employment background in journalism and marketing Build trust with customers through education and high-quality content Organizational skills needed for marketers to succeed Time Management: You can’t miss deadlines and must be willing to hustle Decipher and present data in a digestible way Find and implement tools to maximize your time; keep using what works for you Lindsay plans ahead to stay organized with her time Be aware of what’s going on by using To Do list apps, notebook, or other tools Build a foundation of organizational skills to boost results and be an investment Organization becomes a habit in your personal and professional life Spend time defining processes to be able to execute them Content Planning Process: Research, build strategy/create steps, receive feedback, and implement How to plan content ahead of time using rules of marketing Be tech savvy and have working knowledge of all Microsoft Office programs Know how your brain works and your company’s goals   Ã‚   Powered by PodcastMotor Actionable Content Marketing powered by By AMP083: Why â€Å"Good Organization Is Good Strategy† With Lindsay Scarpello From OBI Creative 00:00/00:00 1x 100 > Download file Subscribe on iTunes Leave Review Share Links: Lindsay Scarpello OBI Creative Mary Ann O’Brien Wunderlist Evernote Microsoft Office Panda Planner HubSpot Buffer Flywheel AMP on iTunes leave a review and send screenshot to podcast@.com If you liked today’s show, please subscribe on iTunes to The Actionable Content Marketing Podcast! The podcast is also available on SoundCloud, Stitcher, and Google Play. Quotes by Lindsay: â€Å"I think it all goes back to writing. I think being able to write content and create content has been paramount to brand success.† â€Å"In order to engage on social, in order to attract customers, regardless of what kind of customer you have, you have to build trust.† â€Å"You have to be planning ahead because the news doesn’t wait for anyone.†

Dealing With Stress essays

Dealing With Stress essays Stress is a word many people can relate to, either through school, traffic, or work. It is an everyday thing everyone has to deal with no matter who he or she might be. Ultimately, if not properly dealt with, stress may in some extreme cases, even lead to death. Stress can be dealt with in various ways. If not dealt with in a positive matter, stress will lead to negative results. Therefore, the way we deal with stress is the main factor in getting rid of it. The word school, in itself, entails many worries. Some of those worries include grades, assignments, but most importantly financial debt. For example, studying for chemistry and calculus midterms all in the same week can really put a burden on a student. On top of the stress the class gives students, they know they're at least 300 dollars in debt for the class regardless of their final grade. Many deal with these problems in the wrong way. They get frustrated and start to believe they are wasting their time, and most importantly their money. A student dealing with this sort of situation may actually go as far as to consider dropping out of school. A positive way of dealing with this school related stress is to utilize money and time wisely by setting a schedule. An example of such a schedule may be prioritizing schoolwork and then putting extra-curricular activities where and if time allows. Another positive way of dealing with the pressures from school would be to listen to music right before class to relax and even give some motivation for the upcoming class. Moreover, another type of stress is road rage. Having encountered and been under the influence of road rage myself, I can say that traffic can really stress a person out. Imaging cutting someone off by accident and then he or she comes along and deliberately uses his or her vehicle as a weapon. Then there are those that just have to scream out obscenities and make obscene gestures. ...

Indus Civilization Writing System research paper

Indus Civilization Writing System research paper Indus Civilization Writing System research paper Indus Civilization Writing System research paper: Early civilization was first witnessed in parts of Asia and Middle East. Egyptians and Sumerians were some of the oldest people to develop in the world. In East and South Asia similar developments were being implemented along river bends and valleys. Some of these oldest developments were being carried out in the Yellow River valley, China. Here, the rich silt from Northern China provided the ideal grounds for civilization. The first Asian civilization was witnessed in the Indus River Valley. This civilization was witnessed in the 3rd millennium B.C (Kenoyer 7). This was more than a millennium prior to the Yellow River development. This civilization is also known as Harappan culture and can be categorized in the Bronze Age development together with Egypt and Mesopotamia. Ravi or Harappan stage was the first to be witnessed in the Indus development. The phase got its name tribute to a river in the vicinity called Ravi River. This Ravi stage lasted for approximately one thousand years. On River Hakra another phase came after Ravi. The phase was known as the Hakra stage. The last phase was known as the Kot Diji phase. In Ravi and Kot Diji stage, settlements some discoveries were made of early writing. These writings were dated back to 3300-2800BC together with the Egypt and Mesopotamian writings. These civilizations covered the whole of present day Pakistan and significant parts of both India and modern Afghanistan. Indus got its name from the Indus River which provided the Indus with water to irrigate and for their domestic use. The silt in the valley provided the fertile soils for agriculture (Kenoyer 26). The strategic position of the Indus valley helped in maintaining security. The Deccan plateau and the Himalayas protected the Indus from attacks from other people. The estimated area was about 1,250,000 km squared. Some of these examples of this extended development were parts of north Afghanistan in Shortughai and Hindon near Delhi in India. The population regarding all these areas was estimated to have reached the heights of about 4.5 million people. Most of this civilization is not fully known to people since it was forgotten till in the early 20th century. Writings of these developments still aren’t well scrutinized by humans and remains unidentified. Like it s rival civilization, Indus disappeared in a mystery. It is accounted to the disastrous events during the time and the early invasions from their rivals. Most facts remain unknown to people about this civilization; like the language spoken by the people during this development is a mystery, no one can tell exactly the names of these people (Mughal 88). This is in contrast with Early Egypt and Mesopotamia civilizations. Most of the people lived in enclosed cities where they could get access to the basic needs more easily. The Indus valley had a number of settlements which were referred to as cities. The residents of these cities were mostly traders and artisans. Trade was more defined here with people from the outside coming to bring their good here. The foreign materials were used for construction of city seals, ornaments for the dwellers and other household goods (Ratnagar 49). The beads made were impressive and were used to make ornaments for the wealthy city dwellers. The seals comprised of images of their gods and animals they reared. Trade goods were well trademarked with these seals. The owners of the goods wanted to maintain the originality of their goods to avoid counterfeits. This gives us the sense of early standardization that still guides production up to today. Goods in our modern trade have to possess a trade mark seal to verify that is original. It’s truly the epicenter of urb an society with all the houses in the Indus getting access to water and a good drainage system to maintain the emphasized hygiene. Technologically, most advancement was witnessed in agriculture. But there in Indus area, controversies with some scholars indicating that food was brought to the Indus from foreign land is still heated. Other archeologist like G.Shaffer argued that agriculture was indigenous in the Indus valley. The people here used mostly wheat and cereals. Barley was also a major ingredient in the food used by the Indus. The fertile Indus soil can give a supporting hand on this. The land here was also productive due to the adequate water for irrigation from the rivers in these areas. The agriculture as the studies suggests must have been enough to feed a large number of people in the Indus valley. Technology in agriculture must also have borrowed some aspect here. The plough was also used in this valley for cultivating the land. Although there is no evidence of a defined system of irrigation, the frequent floods might have been used to water the crops in the fields (Ratnagar 63). The Indus must have dug canals to divert water to build small lands that were managed by small number of people unlike in most early civilizations that people were forced to work on lager rice plantations. Moreover, the act of water harvesting was practiced in the Indus valley. This was a major step forward on the modern technology in agriculture where the water stored can be used to grow crops. Studies have shown presence of some reservoirs on the Indus valley. The people in this civilization depended on the monsoon winds which made the weather pattern to provide rainfall for only four months in a year (Thapar 28). The stored water was hence used the dry periods of the year for both domestic and agriculture use. Inclusive of all these advancement scripting and writing was also developed by the Indus. The rocky terrain and metal availability in the valley was a major influence to invention of these writings. In Indus valley, several writings have been found .The oldest and most prominent writings were several forms of seals. The seals are still in good conditions and the written material is quite visible. These seals were made of metal or rock curved in some shapes and writings scripted on them. Seals were useful to the Indus as they were used to mark their belongings and trade goods. Since clay and other malleable were widely used here, seals were very important in making impressions on them. Most of these seals have being around the world of archeologists but very little have been heard from them depicting what the seals represented. The progress on finding the truth about these well-designed writings cannot be wholly seen as blame on the scholars. The earlier used clues by archeologist to decipher the writings were all missing in the Indus scripts. The writings were small and brief bearing 5 symbols as the mean number of writings per seal. The mammoth but few seals had up to 26 symbols. Language that the Indus used is a mystery and no one knows the meaning of a single symbol in the seals. Texts in these seals were not bilingual. Scholars have come up with different theories to try and uncover this mystery. The first one was just a little acknowledgment on the non prior or present existence of such a language. Some said that the language was Aryan. This is a mixture of several languages; Indian, Iranian, Indonesian and English. Since most Northern Indians spoke Indo-European so the people here in the Indus Valley might have spoken old Indo-European language (Ratnagar 49). Although this might seem like a slight break through, the major short coming is giving to the fact that Indo-European cultures used horses in all their transportation purposes and none was discovered on the seals or the remains of horses on the Indus soil. Furthermore, archeologist yet came up with another theory which stated that the language was Dravidian. This language is spoken mostly in South India. This theory can be seen as the closest one to uncovering this mystery. The Vedic texts have shows some considerable influence of the Dravidian language. It’s thought that the Aryan replaced the Dravidian. The Dravidian might have formed the basis of what is currently spoken by Indians. A feature like the retroflex consonants in Indian pronunciations is some but a few evidence supporting this theory. There is also the structural examination that shows the Dravidian presence in Indus valley texts. The analysis simply states the possible agglutinative nature of the language spoken in the Indus valley. The language here had a number of similar signs with different signals ranging from 1 to 3 per sign. The final signs acted as the suffixes to modify words giving them a new meaning. This is well displayed by the Dravidian language. The language used by Indus had approximately 400 script symbols and about 200 signs. The script used must have been logo phonetic; signs were used for their real meaning and phonetic values. Most of the writings were in picture forms but the signs at the end changed the mother meaning of a word. With all these writings the Indus could possible and effectively communicate through scripted pieces of metal, reeds or rocks. The seals were mostly useful in trade arenas where they could be used to mark goods and be used as currencies, pass to some areas and so on. The civilization of the Indus was a major step forward to what we enjoy today in terms of technology, and advancement in major fields of our lives. Ranging in all dimensions of food, life style, and health education and scripting information on materials in our modern world. The Indus mostly feed on bread made of wheat. Barley and rice were also used as food in the Indus valley. Fruits were many in this area, consisting of peas, dates with some areas melons being grown for nutrition. This is the life style in Middle East; these foods are still eaten today there and all over the world (Thapar 28). With all these contributions to the civilization of the world the Indus made a major step forward towards the urbanization of most parts of the world. The trade, city planning, transportation and agriculture made it possible to have our modern cities and have strategies to manage their lives in a mannerly way. ______________ is a professional research paper writing service which can provide high school, college and university students with 100% original custom written essays, research papers, term papers, dissertations, courseworks, homeworks, book reviews, book reports, lab reports, projects, presentations and other assignments of top quality. More than 700 professional Ph.D. and Master’s academic writers. Feel free to buy a research paper online on Indus Civilization from our custom research paper writing service.

Special Relationship between Britain & the United States of America Essay

Special Relationship between Britain & the United States of America since World War II - Essay Example (Sherwood Pg 442) Although Sir Winston Churchill denied every saying that but it captures the essence of the "Anglo American special relationship". The term itself was first used by Winston Churchill during his Iron Curtain speed in March 1946 to describe the warm historical, political, diplomatic, and cultural relations between Britain and the United States. However behind this simple term, the relationship between the two countries is considered to be much more complex going through what some may refer to as a rollercoaster ride; from Churchill and Roosevelt to Blair and Bush, from the Cold War alliance to the war on terror, and from the Beatles and Elvis to James Bond and Ronald McDonald. Therefore it is no surprise that the United States and Britain share the world's largest foreign direct investment partnership. American investment in Britain reached $255.4 billion in 2002, while British direct investment in the U.S. added up to a whopping $283.3 billion. This paper explores how and why the two countries worked so closely together in the early 1940s with emphasis on the two iconic personalities of Churchill and Roosevelt, the ups and downs of their political alliance, the seventies during which the relationship apparently swayed apart. The paper also discusses the relationship between Ronald Reagan and Margaret Thatcher in which they championed a new conservative revolution both at home and abroad, and finally the special relationship in the last fifteen years, especially the relationship between Blair and Bush after the September 11 attack and the Iraq war. Since Churchill coined the term "special relationship" it has been used as shorthand for the complex network of links between the United States and Britain. This relationship can be split into three levels which include personal ties between leaders, elite cooperation and mass sentiment. The first one of these is the most common which according to most historians paralleled the personal one that existed between Roosevelt and Churchill. Similarly it was the closeness between Reagan and Thatcher that helped maintain the special relationship between the US and Britain. Even Bush and Blair are said to have close personal ties. The importance of the relationship for the two countries and for international relations is visible when one glances at the world economic order, European security, cold war diplomacy and global containment that this special relationship helped contribute to from the Second World War till the early sixties. Throughout the sixties this special relationship ranged across trade, migration, investment, communication flows, and military linkage just to name a few. Although the relationship was not without its frictions but it was nevertheless important not just to both governments but to the shaping of the post war world. A decade later William Wallace in a study of British foreign policy gave examples of the relationship as "wartime joint American/British boards, informal meetings between political leaders of the two countries, close consultation by diplomatic personnel, military and intelligence service cooperation and other instances of intergovernmental cooperation" (Wallace 1975) The one

Epoch of Richelieu - Monarchial Intrigues Essay

Epoch of Richelieu - Monarchial Intrigues - Essay Example Louis XIV, undoubtedly, made a great contribution in strengthening the central authority of French monarchy. However, it was made a cakewalk for him in the light of what his predecessors, especially Richelieu had already accomplished. Still, he deserves to be complimented for his ability in reading quickly the invisible price tag attached to those who could challenge the absolutism that he envisaged and also for the shrewd, though unethical, strategies that he invented to pacify the aristocracy and to eliminate the remnants of feudal power if any. By the use of pensions and privileges as decoys, he created circumstances in which loyalty became an obligation. To weaken the members of the noble elite further, he addicted them to luxury and indulgence at the Palace of Versailles. That also drastically reduced the time they would spend in their own estates. It was ‘Sankin-kotai’ in disguise. It is just that the system of alternate attendance was formalized as ‘Sankin-k otai’ by the Tokugawa Shoguns whereby the feudal lords were required to spend at least half of their time in Edo, the capital of the Shogun empire (Beasly 272). Louis XIV is often praised in history for ‘recognizing talent’ because, during his reign, several high positions were filled with commoners. Though their credentials do not have to be doubted, it needs to be observed that he had a distinct advantage in having them there: they were easy to get rid of. A clear parallel between him and the Shogunate becomes apparent here if we recall how Ieyasu allowed outsiders to assume the position of vassals. Just as Louis XIV exercised control over the nobles by making them have to remain under his scrutiny, Ieyasu’s successors Hidetada and Iemitsu vigorously pursued the land reallocation strategy by which they could impose order on Japan’s feudal lords (Beasly 130). The system was justified on the basis that it would ensure ‘good governance’ while the actual rationale was the exercise of control.

The Financial Analysis of The Royal Bank of Scotland Group Research Paper

The Financial Analysis of The Royal Bank of Scotland Group - Research Paper Example   The Royal Bank of Scotland (RBS Group) carries out its business activities in the United Kingdom, Asia, Europe, the Americas, and the Middle East, with more than thirty mullion customers. Large corporations, institutions, and individuals are among the customers, that the group provides its products to (RBS Group, 2013). Despite the adverse effects of the financial and economic crises that faced the world and the United Kingdom, banks and the economy of the United Kingdom began this year with a stronger position, compared to last year (Accenture, 2012). The last five years have been characterized by poor performance among many companies. In the United Kingdom, the banking industry is unique. This is because it is large and diversified, accommodating a large international industry (Accenture, 2012). As a result, competition is great, and individual banks have to analyze their strategies to ensure superior performance in the financial markets, given the volatile, current and future economic conditions. Income Statement Analysis From the common size income statement of the Royal Bank of Scotland, it is evident that revenue has been decreasing each subsequent year, for the last three years. For instance, the bank’s revenue for 2012 was 17, 941 Million, compared to revenue of ?24,651Million earned in 2011 and 31, 798 Million earned in 2010 (RBS Group, 2013, p, 45). This trend shows that revenue has been decreasing significantly. Subsequently, the Bank’s operating loss increased significantly, over the three years. In 2010, the Royal Bank of Scotland had an operating loss of 469 Million. In 2011 the operating loss increased to   1,190 Million, while it further increased to 5,165 Million in 2012. The same trend was recorded in loss after tax of the Royal Bank of Scotland for the three years of analysis. For instance, the Royal Bank of Scotland recorded a loss after tax of 1,033 Million in 2010, while the figure increased to 2,317 Million and 5,806 M illion for 2011 and 2012 respectively (RBS Group, 2013). This resulted in a loss for the period of 1,666 Million in 2010, which increased to 1,969 Million in 2011 and 5,806 Million in 2012 (RBS Group, 2013, p, 45). The Royal Bank of Scotland has never made any dividend payment for the last three years, probably because it has been making losses from its business. Given that the Royal Bank of Scotland has been making losses for the last three years, the earnings per share portray a negative value. For example in 2010, the earnings per share for the Royal Bank of Scotland were -5.00p, while in 2011 and 2012 recorded earnings per share of -2.13p and -53.70p, respectively (Hargreaves Lansdown, 2013).  Ã‚  

Nursing Statement Personal Example | Topics and Well Written Essays - 500 words

Nursing - Personal Statement Example My goal was to get a job to take care of my son. College would have to wait. I was good at clerical and secretarial duties, so I did that for the next seventeen years. While working, I decided to attend Galveston College in 1991 to pursue nursing education. I took remedial reading and math. I did well in reading, but because math was my weakness, I not only dropped math, but reading, too. Unfortunately, I let my weakness for math almost destroy my dream of becoming a nurse. Working paid the bills, but it was just a job. Over the years I received promotions but I still had a desire for more meaningful work. In 1997, my grandmother had a stroke and became very ill. My family took shifts caring for her. I loved taking care of my grandmother on weekends. Nobody in the family could get my grandmother to take her medication except me. When I arrived, my grandmother always wanted a bath, and to get out of bed. She always told me, â€Å"They won’t give me a bath, and I’ve been dirty all week.† This, however, was not true, but I gave her a bath anyway because she wanted me to. I took care of my grandmother until she died in March 1998. In 2002, I enrolled in Galveston College again. This time I earned an A in reading, which motivated me to do more.

Neighbourhood policing, is it real police work Essay

Neighbourhood policing, is it real police work - Essay Example This research paper examines that through the concept of neighborhood policing, it is clear that better solutions through cooperative efforts are being achieved. With the widespread use of these teams and the success with which they have been met, it is possible that this idea could be extended to include a greater number of community services so that through police and social services interactions, more individuals can be helped before harm comes to the community. With a wider social cooperative effort, it may be that crimes can be prevented through an understanding of events from a larger perspective. The success of this system has been through the cooperation of authoritative efforts, but this success suggests that wider use could be of service to the communities. The idea of community policing or neighborhood policing was developed in 1829 by Sir Robert Peel who was looking for a way to create a more community ideal of law enforcement. In the early 21st century, after some prelim inary efforts that started in the 1980s, Parliament has supported the idea of creating teams in communities with the intention of creating a safer nation. As a result, decreases have been seen in the crimes that specific areas have mostly been concerned about for their neighborhoods. Through cooperation, the development of these teams has put a force based on presence and interactions that have allowed for a better assessment of what is occurring so that regionally specific solutions can be developed.

American Beauty Essay Example | Topics and Well Written Essays - 250 words

American Beauty - Essay Example The flow of this film exhibits the various needs of different characters. Lester’s wife feels that her needs are not met by the husband while the daughter on the other end also observed the inadequacies in her father prompting her to develop negative relationship with him. The boss of lesser is a player in the scenario with high expectations from Lester. However, Lester himself is seeking social freedom and this presents a scenario where every character is in need of something. The major characters in this film include Lester Burnham who acts as the central point where all the actions of the other characters rotate. His wife and daughter Jane are equally significant in making the film. The boss and Jane’s friend also contribute to the development of the film. The central conflict here is Lester’s desire to achieve freedom from the chains of social depression that he has accumulated over time. This he tries out in the form of dating a friend to her daughter a twist that infuriate the wife more and disgusts the daughter.

Neighbourhood policing, is it real police work Essay

Neighbourhood policing, is it real police work - Essay Example This research paper examines that through the concept of neighborhood policing, it is clear that better solutions through cooperative efforts are being achieved. With the widespread use of these teams and the success with which they have been met, it is possible that this idea could be extended to include a greater number of community services so that through police and social services interactions, more individuals can be helped before harm comes to the community. With a wider social cooperative effort, it may be that crimes can be prevented through an understanding of events from a larger perspective. The success of this system has been through the cooperation of authoritative efforts, but this success suggests that wider use could be of service to the communities. The idea of community policing or neighborhood policing was developed in 1829 by Sir Robert Peel who was looking for a way to create a more community ideal of law enforcement. In the early 21st century, after some prelim inary efforts that started in the 1980s, Parliament has supported the idea of creating teams in communities with the intention of creating a safer nation. As a result, decreases have been seen in the crimes that specific areas have mostly been concerned about for their neighborhoods. Through cooperation, the development of these teams has put a force based on presence and interactions that have allowed for a better assessment of what is occurring so that regionally specific solutions can be developed.

Values of Life Essay Example for Free

Values of Life Essay There are many values in life. To me a value is something that you enjoy, and appreciate around you. You also have a passion for the person, place or thing that you value. You have to be willing to fight for your values. There are many values in life but the two that are most important to me is wrestling and my Family. Wrestling has played a big tremendous role throughout my lifespan Family is the most important value because they will always be there for you no matter what. Wrestling is a significant value to me because it has played a crucial part in my life. It made me who I am today. Wrestling is different than most sports. It’s not just any sport you play its more like a lifestyle. You have to make sacrifices if you want to be successful at the sport. You have to give up allot of your everyday life routines. That consists of no parties, no junk food, no staying up late etc. When you give up things like this that is a value in itself. This value takes me places I never thought I could be going; from traveling all around the world to being here now at NDC. Some people would not consider a sport as an important value. Not for me I say if you are willing/have shed blood sweat and tears for that person place or thing, then that’s a value there. Family is the most appreciated value that I have. I love my family with all of my heart. I value them and they value me. There are so many values that come with family that you will always be able to share. You’re always with someone apart of your family from mom and dad to cousins. You will experience good and bad times with each and every one of them. They will teach you who you are not by choice, but because they are a part of you. They have characteristics the same as you. They are your blood. They help you with daily life problems, they taught you right from wrong, they have molded you the guide you, if all this is not a value I don’t know what it is. Your values will make you who you are. They make up the character in you. Without values I’m not sure where I would be right now, I would not be the same person that I am today. These two values Wrestling and Family have taught me hard work, determination, and business. For all of those I am very grateful, a glad that I had these though out my life My personal opinion if you don’t have values in life you really have nothing to live for, nothing to protect, nothing to drive you when times get hard, nothing to look forward to, not anything. People will judge you based off your important values. Wrestling is an important value to me because I’ve shed blood, sweat, and tears for the sport. My family is my number one value in my life because they’ve made be who I am today.