Answer:
<h2>The accounting scandals of the early 2000s</h2>
led many people to question the legitimacy of:
allowing an accounting firm to do both consulting and auditing work for the same company.
Explanation:
1) Enron and WorldCom fell from grace during the scandal. And Sarbanes Oxley Act of 2002 was introduced to regulate the practise of auditing, which was before self-regulated.
2) People felt that accounting firms were getting so much revenue from consulting that they did not pay much attention to their auditing work.
3) They also felt that the consulting relationship was jeopardizing their responsibilities and commitments as independent auditors.
4) Since they were involved in consulting and offering management services, they paid a lip service to their main responsibilities and directly compromised their positions as verifiers of the truth and fairness in the presentation of financial statements.
5) According to Paul Krugman of The New York Times, “the Enron debacle is not just the story of a company that failed; it is the story of a system that failed. And the system didn’t fail through carelessness or laziness; it was corrupted.” People felt that the corruption arose from the performance of these separate services by the same auditing personnel and firm.
Answer:
shifts up the aggregate production function; moves the economy along the aggregate production function
Explanation:
An increase in the amount of physical capital per worker <u>shifts up the aggregate production function</u>, while technological progress <u>moves the economy along the aggregate production function</u>.
In the case of an increase in the amount of physical capital per worker, what is implied is that <u>at the same number of labor, output increases</u>; this will shift the aggregate production function outwards.
However in the case of technology, the scenario <u>does not say that technology is remaining at the same level</u> but is <u>progressing for output to increase</u>, hence the movement will not be a shift in the curve but a movement along the curve.
Answer:
$4,238.05
Explanation:
The computation of the present value is shown below:
Years Cash flows Discount factor @7% Present value
1 $850.00 0.9345794393 $794.39
2 $1,190.00 0.8734387283 $1,039.39
3 $1,450.00 0.8162978769 $1,183.63
4 $1,600.00 0.762895212 $1,220.63
Total present value $4,238.05
First, calculate for the number of fans that would come to the event in their own vehicle. This is calculated by multiplying the number of fans by the percentage.
N = (70,000 fans)(0.60) = 42000
The number of vehicles is calculated by dividing the answer obtained above by 2.
n = (42000) / 2 = 21000
The number of vehicles in the satellite parking is the difference of 21000 and 9000 which gives us an answer of 12000. Since each satellite parking will accommodate 1500, dividing 12000 by 1500 is 8.
ANSWER: 8 satellite parkings
