forever 21 is expected to pay an annual dividend of $2.87 per share in one year, which is then expected to grow by 3% per year. the required rate of return is 14%. attempt 1/10 for 1.5 pts. part 1 what is the stock's intrinsic value?

This statement is FALSE.

Adam Smith believed that countries should not produce all goods at home because it is more efficient to specialize in producing goods in which they have an absolute advantage and trade with other countries for goods in which they do not have an absolute advantage, leading to higher overall productivity.

False. According to Adam Smith, a country should specialize in producing goods in which it has a comparative advantage and trade with other countries to obtain goods at a lower cost.

According to Adam Smith, a country should not produce all goods at home that it can, even if it could buy those goods at a lower cost from other countries. Therefore, the given statement is False.

What is Adam Smith's theory?

Adam Smith, also known as the Father of Economics, was a Scottish economist and philosopher who lived in the 18th century. His book "The Wealth of Nations" is regarded as a foundational work in economics, and he is considered one of the most important figures in the field of economics.

According to Adam Smith's theory, the government should have no involvement in the economy. Instead, the market forces of supply and demand should be allowed to work naturally. The invisible hand, as he called it, would regulate the market and guarantee efficiency and growth.

According to Adam Smith, a country should not produce all goods at home that it can, even if it could buy those goods at a lower cost from other countries. Instead, the country should specialize in producing the goods that it can produce most efficiently and trade with other countries for the goods that it cannot produce efficiently. This concept is known as comparative advantage.

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Under an adjustable life insurance policy, proving insurability may be required for taking a policy loan, changing the beneficiary, and increasing the death benefit. (option c).

Insurability refers to the insurance company's assessment of an individual's overall health and risk factors to determine their eligibility for coverage. Let's take a closer look at each of the actions listed and how they relate to insurability.

If the insured wants to increase the death benefit of their policy, they will need to prove insurability.

An increase in the death benefit means an increase in risk for the insurance company. Therefore, the insurer will want to assess the policyholder's current health and overall risk factors before making a decision.

Finally, decreasing the premium amount usually does not require proving insurability. However, this may depend on the specific terms of the policy and the insurer's policies.

Hence the correct option is (c).

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The bad debt expense for 2022 is $324,000, according to the following information is related to December 31, 2021 balances. Thus, option c is correct.

Sales on account = $870,000

Collections on account =$516,000

Uncollectible accounts =  $48,000

Bad debts =  $324,000

We need to calculate the growth in the allowance for doubtful accounts for the years 2021 to 2022:

Increase in allowance for doubtful accounts = sales on allowance for doubtful accounts on December 31, 2022 - collections account balance on December 31, 2021

Increase in allowance for doubtful accounts = $870,000 - $516,000

Increase in allowance for doubtful accounts = $324,000

Therefore,  we can conclude that the bad debt expense for 2022 is $324,000.

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Maloney's, Inc. has an after-tax weighted average cost of capital of 11.64%. Thus, Option D holds true.

To calculate the after-tax weighted average cost of capital (WACC) for Maloney's Inc., we first need to find the weights and after-tax cost of each component.

Weights:

After-tax cost of debt:

Now, we can calculate the WACC:

The after-tax weighted average cost of capital for Maloney's Inc. is 11.64%. Option D is correct.

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The American Community Survey data and Trading Area Analysis can be useful tools for business planning and decision-making, it is important to be aware of their potential limitations, including issues related to accuracy and scope.

The American Community Survey (ACS) is a dataset that provides demographic and socioeconomic information on US communities, while Trading Area Analysis (TAA) is a method of analyzing the market area of a business. While both of these tools can be useful for business planning and decision-making, there are also some disadvantages to their use.

One of the most important disadvantages of using ACS data and TAA is their potential lack of accuracy. The ACS data is based on a sample of the population, rather than a complete enumeration, which means that there may be sampling errors and biases that could affect the reliability of the data. Additionally, TAA relies on assumptions about the behavior and preferences of customers, which may not always be accurate in practice.

Another important disadvantage of using ACS data and TAA is their limited scope. While these tools can provide valuable insights into the demographics and market characteristics of a particular area, they do not necessarily take into account other important factors, such as changes in consumer behavior, economic trends, or competitive pressures.

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The controllable variance is c) $1,600 unfavorable (u).

The controllable variance is the difference between the actual overhead cost and the budgeted cost that is under the control of the management. In this case, the actual total overhead cost is $12,000 and the budgeted total overhead cost is $10,400.

Controllable Variance = Actual Total Overhead Cost - Budgeted Total Overhead Cost

Controllable Variance = $12,000 - $10,400

Controllable Variance = $1,600 unfavorable (u)

Therefore, the controllable variance is $1,600 unfavorable (u).

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Kenshin's allocation price of social media will be $24.18. Option D is the correct answer.

The cost of selling television media varies significantly. Kenshin uses an appropriate estimation method to determine that the cost of selling TV media is $15.75.To decide the allocation price of social media, we must first compute the total value of all three services.

It can be accomplished by adding up the cost of each service, as follows:Social media: $30Print media: $22.50TV media: $15.75 Total: $68.25After that, the allocation rate of each service is determined by dividing the individual value of each service by the overall value of all three services.

So, the allocation rate for social media is as follows:$30 ÷ $68.25 = 0.439If we multiply the allocation rate by the total selling price of all three services, we'll get the allocation price for social media. So,$55 x 0.439 = $24.18

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The question a CISO should not be prepared to answer, about a performance measures program, according to Kovacich is: "Why should these measurements be collected?"

A CISO is a high-level executive who is responsible for the protection of an organization's information assets. They're also responsible for developing and implementing a comprehensive security strategy to protect against both external and internal threats. Additionally, they play a vital role in identifying and responding to potential security risks.According to Kovacich, a CISO should be prepared to answer the following questions regarding a performance measures program:Where will these measurements be collected?What impact will measurement collection have on efficiency?Who will collect these measurements?Hence, the correct option is: Why should these be collected?

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The intrinsic value of the call option would be $5. Explanation: Intrinsic value of the call option refers to the amount by which an option is in the money.

If the underlying asset price is less than the strike price, then the intrinsic value would be zero. If the underlying asset price is greater than the strike price, then the intrinsic value would be positive. Intrinsic value can never be negative.

Let's calculate the intrinsic value of the call option: Strike price of the call option (K) = $68Current market price of the stock (S) = $73Intrinsic value of the call option (C) = S - K = $73 - $68 = $5

Therefore, the intrinsic value of the call option is $5.

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At Sellright, Inc., it is required for men to wear ties as part of the company's dress code.

It is not specified whether SellRight, Inc. requires men to wear ties. The question cannot be answered with certainty without further information.What is SellRight, Inc.?

SellRight, Inc. is not mentioned in the question. It is unknown what kind of company SellRight, Inc. is, where it is located, or what its dress code policy is.

As a result, it is not possible to determine whether men are required to wear ties at SellRight, Inc.Based on these details, we cannot say for sure if SellRight, Inc. mandates men to wear ties or not.

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Company B's profit will increase by 15.9% if sales increase by 10%.

1- a. The degree of operating leverage (DOL) measures the sensitivity of a company's operating profit to changes in sales. It is calculated as follows:

DOL = Contribution Margin / Operating Profit

For Company A: DOL = $120,000 / $98,400

DOL = 1.22

For Company B: DOL = $168,000 / $105,400

DOL = 1.59

1- b. If sales increase from the present level, the company with a higher DOL will benefit more. This is because a higher DOL indicates that a larger proportion of the company's operating costs are fixed, so any increase in sales will lead to a larger increase in operating profit. In this case, Company B has a higher DOL (1.59) than Company A (1.22), so it will benefit more from an increase in sales.

To calculate the percentage increase in profit for each company, we can use the following formula:

Percentage increase in profit = DOL x Percentage increase in sales

For Company A:

Percentage increase in profit = 1.22 x 0.1

Percentage increase in profit = 0.122 or 12.2%

So, Company A's profit will increase by 12.2% if sales increase by 10%.

For Company B:

Percentage increase in profit = 1.59 x 0.1

Percentage increase in profit = 0.159 or 15.9%

So, Company B's profit will increase by 15.9% if sales increase by 10%.

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"Lasting impressions of favorable product experiences" would generally be the most difficult for a competitor to duplicate. Option C holds true.

This is because while manufacturing processes, brand slogans, product design details, and materials sourcing can be reverse-engineered or replicated to some extent, the emotional connection and positive memories associated with a product experience are much harder to recreate.

These impressions are often shaped by factors such as customer service, packaging, user interface, and overall user experience, which can be influenced by a wide range of intangible factors that are difficult to quantify or replicate.

As a result, creating a lasting impression of a favorable product experience requires a combination of art and science, and can take years of trial and error to get right, making it a formidable barrier to entry for competitors.

Thus, Option C holds true.

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It seems unlikely that Miller and Modigliani would have come to the conclusion that 100% debt financing is ideal if they had included the costs of bankruptcy in their model. true

According to corporate finance theory, bankruptcy costs of debt are the greater costs associated with borrowing money instead of using equity as a form of financing. The fact that bankruptcy is typically an expensive procedure in and of itself, rather than just a change in ownership, suggests that these expenditures adversely influence the firm's overall value. In the sense that the cost of borrowing rises as the likelihood of bankruptcy rises, these charges might be viewed as financial costs. Understanding that when a company goes bankrupt, investors holding its debt are likely to lose some or all of their investment is one approach to comprehend this. As a result, investors need a greater rate of return when investing in bonds.

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The best way for a husband and wife to hold property in California, assuming they want to avoid probate and taxes and give the property to the surviving spouse, is for the property to vest as joint tenancy with right of survivorship.

Joint tenancy with right of survivorship is a method of co-owning property that is commonly used by spouses. In this arrangement, two or more individuals own equal shares of the property, and when one owner dies, their share automatically transfers to the remaining owner(s). As a result, joint tenancy with right of survivorship prevents the surviving owner from having to go through probate or pay estate taxes on the property.

Hence, the best way for a husband and wife to hold property in California, assuming they want to avoid probate and taxes and give the property to the surviving spouse, is for the property to vest as joint tenants with rights of survivorship.  In this arrangement, both spouses own an equal share of the property, and upon the death of one spouse, the surviving spouse automatically inherits the deceased spouse's share without going through probate.

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A profit-maximizing strategy becomes a loss minimization strategy when a firm in a perfectly competitive industry is producing where AVC < P < ATC. Option A is correct.

In a perfectly competitive market, a firm's supply curve is its marginal cost curve (MC). In the short run, a firm will continue to produce as long as it can cover its variable costs. The point at which a firm should shut down in the short run is where price (P) is less than average variable cost (AVC), which means that the firm is not even covering its variable costs.

However, if P is still above the shutdown point (where P = minimum AVC), the firm will continue to produce as long as it is covering its variable costs. In this case, the firm will be operating at a loss, but it will be better than shutting down and incurring fixed costs without any revenue.

If P is between AVC and average total cost (ATC), the firm will be covering its variable costs and some of its fixed costs, but it will still be making a loss. This is because the firm is not covering all of its fixed costs, which are unavoidable in the short run. However, the firm will still continue to produce as long as P is above AVC because it is better to cover some of the fixed costs rather than shutting down and incurring all of the fixed costs without any revenue. Option A is correct.

The complete question is

A profit-maximizing strategy becomes a loss minimization strategy when a firm in a perfectly competitive industry is producing where

1. AVC < P< ATC

2. P>ATC

3. P=ATC

4. MR=MC<P

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Answer:AVC < P< ATC

2. P>ATC

3. P=ATC

4. MR=MC<P

The theory that states that for products where economies of scale are significant and that control a substantial amount of world demand, the first movers in an industry can gain a scale-based cost advantage not available to late entrants is the "Scale-Efficiency Theory".

The Scale-Efficiency Theory states that companies can reduce production costs by producing large volumes of goods. Economies of scale are the cost advantages that a firm obtains as a result of increased production. When economies of scale are important, the first companies to enter a market can gain a cost advantage over later entrants who must pay more to create the same thing.

In other words, the Scale-Efficiency Theory claims that the initial companies in a market have a cost advantage over their competitors as a result of their production volume. As a result, early entrants can leverage economies of scale to lower their production costs and gain a competitive advantage. The theory also states that the cost benefit obtained from economies of scale becomes smaller as the scale of production grows.

Therefore, small businesses face significant hurdles when competing with established businesses that benefit from economies of scale.

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The people that should perform an internal audit are representative managers and employees from throughout the firm. The correct option is C.

Internal audits are carried out by the organization's internal audit department. They can also be carried out by representative managers and employees from throughout the organization. The internal audit department may also work with external auditors, but the organization must conduct its own audit.

Internal audits are carried out by the organization's internal audit department. They can also be carried out by representative managers and employees from throughout the organization. An internal audit is an assessment of an organization's internal controls, financial reporting, and risk management procedures. An internal audit is conducted by employees of the organization or by an external audit firm. It is an essential process for maintaining transparency and accountability in the organization.

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The value of social networks and the tendencies that arise from these networks to do things for each other are referred to as social capital.

Social networks have become important sources of social capital in recent years. Social capital refers to the connections between people and the social norms that facilitate cooperation among them. Social capital can be built through social networks by sharing resources, providing emotional support, and exchanging knowledge and expertise.

The value of social networks can be seen in various aspects of economic growth. For instance, social networks can be used to connect entrepreneurs with investors and customers, which can help to promote innovation and economic growth. Social networks can also be used to create social value, such as by connecting people with local services and resources.

Social networks have also become important for global marketing. Social networks can be used to promote products and services to a large audience, which can help to increase sales and profits. Social networks can also be used to gather customer feedback, which can help to improve products and services.

Social capital is an important resource for individuals, groups, and societies that can be used for economic growth, global marketing, and innovation.

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None of the options provided is the correct answer for how the mechanic's mortgage would be listed on a balance sheet.

Instead, the mechanic's mortgage would be listed as a long-term liability on the balance sheet. A long-term liability is a debt or obligation that is due in more than one year. The mechanic's mortgage is a long-term obligation because it will take several years to repay the loan.

Other examples of long-term liabilities include long-term notes payable, bonds payable, and pension liabilities. By listing the mortgage as a long-term liability, the balance sheet accurately reflects the amount of debt owed by the mechanic over the long-term and helps to give a clear picture of the company's financial position.

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The present value of the payment is $6,174,372.62.

To calculate the present value, we can use the formula:

PV = FV / (1 + r/n)^(n*t)

Where PV is the present value, FV is the future value, r is the annual interest rate, n is the number of compounding periods per year, and t is the time in years.

In this case, FV is $8,675,309, r is 6.0%, n is 4 (since there are quarterly compounding periods), and t is 39/12 (since the payment is in 39 months). Plugging in these values, we get:

PV = $8,675,309 / (1 + 0.06/4)^(4*(39/12))

PV = $6,174,372.62

Therefore, the present value of the payment is $6,174,372.62.

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Equity securities are adjusted to fair value on the balance sheet date, and unrealized holding gains and losses are included in income of the current period.The only incorrect statement is b.

"Equity securities are initially reported at cost, and unrealized holding gains and losses are included in income of the current period." This statement is false since the equity securities are initially recorded at fair value, not cost.The true statements are as follows:Equity securities are initially recorded at fair value, including transaction costs. Unrealized gains and losses from changes in fair value are recognized in other comprehensive income.

Dividend income is included in net income each period.Realized gains and losses on sales are included in net income each period.Equity securities are adjusted to fair value on the balance sheet date, and unrealized holding gains and losses are included in comprehensive income of the current period. The only opton is incorrect is B.

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difficulties?An agreement to pay reasonable additional compensation to a contractor for the performance of a pre-existing contract when the contractor faces extraordinary circumstances caused by unforeseen difficulties is called a "change order."

A change order is a formal agreement between the owner and the contractor that identifies changes or modifications to the original contract documents, scope, timeline, or cost.

Change orders may be initiated by either the owner or the contractor, but both parties must agree to the terms of the change order before work can commence.

Change orders are used to address unforeseen difficulties or issues that arise during the construction process.

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The expected yield (YTM) on the loan is 7.33%.

To calculate the expected yield (YTM) on the loan, we need to take into account the probability of default and the recover rate.

First, we can calculate the present value of the loan payments, which is $1,088,864.57 using a financial calculator or spreadsheet. This takes into account the interest-only payments and the balloon payment at the end of year 5.

Next, we need to adjust for the probability of default. If the loan defaults in year 4, the lender would only receive 50% of the remaining principal balance. Therefore, the present value of the loan in that scenario would be $1,088,864.57 x (1 - 50%) = $544,432.28.

To calculate the expected present value of the loan, we can use the following formula:

Expected present value = probability of payment x present value of payments + probability of default x present value in default

Expected present value = (80% x $1,088,864.57) + (20% x $544,432.28) = $950,304.49

Finally, we can solve for the expected yield (YTM) using the expected present value and the loan amount:

Expected yield = (annual interest payment + (balloon payment - loan amount) / years) / (loan amount + balloon payment)

Annual interest payment = loan amount x interest rate = $56,000

Balloon payment = $1,400,000

Years = 5

Expected yield = ($56,000 + ($1,400,000 - $1,400,000) / 5) / ($1,400,000) = 7.33%

Therefore, the expected yield (YTM) on the loan is 7.33%.

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The number closest to the clean price of the bond is approximately $990.83.

Convert the quoted price to a decimal: The quoted price is given as 99-16, which means 99 and 16/32. To convert this to a decimal, divide 16 by 32 and add the result to 99.  16/32 = 0.5.  99 + 0.5 = 99.5. Calculate the dirty price: Multiply the decimal quoted price by the par value of the bond. Dirty Price = Quoted Price × Par Value. Dirty Price = $995
Calculate the accrued interest: The bond has a 5% coupon, which means it pays $50 per year in interest (5% of $1,000). Since interest is typically paid semiannually, each payment is $25. With 30 days of accrued interest due to the seller, we need to find the interest for that period. Interest per day = $25 / 180 days (semiannual period). Interest per day = $0.1389 (approx.) Accrued interest for 30 days = $4.17 (approx.)
Calculate the clean price: Subtract the accrued interest from the dirty price. Clean Price = Dirty Price - Accrued Interest.  clean Price = $990.83 (approx.)Therefore, the number closest to the clean price of the bond is approximately $990.83.

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Migration of labor from this economy affect production in the long run C) Production of the labor-intensive good will rise and production of the capital-intensive good will fall.

In an economy that only produces steel (capital-intensive) and shoes (labor-intensive), the migration of labor from this economy will affect the production of both goods in the long run. When labor migrates away from the economy, there will be a decrease in the available workforce. As a result, the production of labor-intensive goods, like shoes, will rise because the remaining workforce will likely focus on the production of goods that require more labor.

On the other hand, the production of capital-intensive goods, like steel, will fall due to the reduced labor force. Steel production relies more on capital (machinery, equipment, etc.) than labor, but it still needs labor to operate the machinery and manage the production process. With a smaller labor force, the economy will struggle to maintain the same level of steel production, leading to a decline in output.

In summary, the migration of labor from an economy that produces steel and shoes will result in an increase in the production of the labor-intensive good (shoes) and a decrease in the production of the capital-intensive good (steel) in the long run. Therefore the correct option is C

The Question was Incomplete, Find the full content below :

Consider an economy that only produces steel and shoes; steel is capital intensive and shoes are labor intensive. How will migration of labor from this economy affect production in the long run?

A)Production of both the labor-intensive and the capital-intensive good will rise.

B)Production of both the labor-intensive and capital-intensive good will fall.

C)Production of the labor-intensive good will rise and production of the capital-intensive good will fall.

D)Production of the labor-intensive good will fall and production of the capital-intensive good will rise.

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An overreaction or an exaggerated response to the news, specifically an example of market overreaction or overcorrection.

The market's initial reaction to the announcement by Microfun Corporation (MFUN) is an example of an overreaction or an irrational response, where investors panic and sell their positions without fully understanding the impact of the news on the company's overall financial performance.

As a result, the stock price falls sharply from $50 to $5 per share, which is an overreaction given that the skin care products represent only 1% of MFUN's sales. Once the market realizes this fact, the stock price starts to recover and eventually reaches its pre-announcement level of $50 per share. This type of market reaction is often seen in situations where investors overestimate the impact of a particular event or news on the company's overall performance.

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The natural rate of unemployment prevails when: B. the number of unfilled jobs is matched by the number of qualified workers.

The natural rate of unemployment is the rate of unemployment that exists when the labor market is in equilibrium, meaning that the number of job openings available matches the number of qualified workers seeking employment.

At this rate, there is no cyclical unemployment, which is the unemployment that results from fluctuations in economic activity. The natural rate of unemployment includes only frictional and structural unemployment, which are caused by factors such as job search, job matching, and changes in the structure of the economy.

Option B correctly describes the conditions that must be met for the natural rate of unemployment to prevail. When the number of unfilled jobs is equal to the number of qualified workers, there is no cyclical unemployment caused by a lack of demand for labor, and the economy is operating at its potential output level. This level of unemployment is considered to be the "natural" rate because it is not influenced by short-term fluctuations in aggregate demand or supply.

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No, PW cannot sell these bonds at par because the market rate of return of similar assets is higher than the coupon rate, resulting in a lower intrinsic present value of the bonds than their par value.

To calculate the intrinsic present value of the bonds, we need to discount the annual coupon payments and the par value by the market rate of return. The formula for the intrinsic present value of a bond is

PV = (C / r) x [1 - 1 / (1 + r)^n] + (F / (1 + r)^n)

Where:

PV = present value of the bond

C = annual coupon payment

r = market rate of return

n = number of years until maturity

F = par value of the bond

Using the numbers given in the question, we can calculate the intrinsic present value of the bond as follows

PV = (100 / 0.12) x [1 - 1 / (1 + 0.12)^5] + (1000 / (1 + 0.12)^5)

PV = 667.24 + 567.43

PV = 1234.67

The intrinsic present value of the bond is $1,234.67, which is lower than the par value of $1,000. Therefore, PW cannot sell these bonds at par.

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The Wal-Mart's liabilities will increase by $200, while the inventory account remains unchanged on the balance sheet.

Immediately after this transaction, Wal-mart's balance sheet will show an increase in inventory by $200 and an increase in liabilities (debt) by $200. The income statement will not be affected at this point, as the expense will be recognized when the inventory is sold.

When a company like Wal-Mart orders inventory using debt, it is essentially borrowing money to pay for the inventory. This means that the company's liabilities will increase by the amount borrowed ($200 in this case), while the inventory account on the balance sheet remains unchanged.

The increase in liabilities will be reflected in the company's financial statements, such as the balance sheet and the statement of cash flows. This transaction may also impact other financial ratios, such as the debt-to-equity ratio, which can provide insight into the company's financial health and leverage.

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In this scenario, the type of culture that Cho has helped to create is affiliative. So, the correct option is affiliative.

An affiliative culture is one in which people are friendly and have a family-like environment. This atmosphere encourages harmony and fosters positive relationships between people. As a result, people are usually loyal to their employer and colleagues in such an environment.

The values that Cho inspires in her employees align with the traits of an affiliative culture. As a well-liked executive, she facilitates change and creates a strongly positive climate, all while stressing performance. She inspires her employees to follow a common vision, all of which encourages friendly working relationships and a sense of belonging.

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