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There are 15 correct answers in the following multiple choice questions (some questions have multiple answers that are correct). To attain a perfect score on the quiz, all correct answers must be given. Each correct answer is worth 1 point. Each omitted answer or wrong answer reduces the score by 1 point, and each additional answer beyond the correct number of answers reduces the score by 1 point. Percentage score on the quiz is based on the total number of correct answers. 10.1 Sand casting is which of the following types: (a) expendable mold or (b) permanent mold? 10.2 The upper half of a sand-casting mold is called which of the following: (a) cope or (b) drag? 10.3 In casting, a flask is which one of the following: (a) beverage bottle for foundrymen, (b) box which holds the cope and drag, (c) container for holding liquid metal, or (d) metal which extrudes between the mold halves? 10.4 In foundry work, a runner is which one of the following: (a) channel in the mold leading from the downsprue to the main mold cavity, (b) foundryman who moves the molten metal to the mold, or (c) vertical channel into which molten metal is poured into the mold? 10.5 Turbulence during pouring of the molten metal is undesirable for which of the following reasons (two best answers): (a) it causes discoloration of the mold surfaces, (b) it dissolves the binder used to hold together the sand mold, (c) it increases erosion of the mold surfaces, (d) it increases the formation of metallic oxides that can become entrapped during solidification, (e) it increases the mold filling time, and (f) it increases total solidification time? 10.6 Total solidification time is defined as which one of the following: (a) time between pouring and complete solidification, (b) time between pouring and cooling to room temperature, (c) time between solidification and cooling to room temperature, or (d) time to give up the heat of fusion? 10.7 During solidification of an alloy when a mixture of solid and liquid metals is present, the solid-liquid mixture is referred to as which one of the following: (a) eutectic composition, (b) ingot segregation, (c) liquidus, (d) mushy zone, or (e) solidus? 10.8 Chvorinov's rule states that total solidification time is proportional to which one of the following quantities: (a) (A/V) n , (b) Hf, (c) Tm, (d) V, (e) V/A, or (f) (V/A) 2 ; where A = surface area of casting, Hf = heat of fusion, Tm = melting temperature, and V = volume of casting? 10.9 A riser in casting is described by which of the following (three correct answers): (a) an insert in the casting that inhibits buoyancy of the core, (b) gating system in which the sprue feeds directly into the cavity, (c) metal that is not part of the casting, (d) source of molten metal to feed the casting and compensate for shrinkage during solidification, and (e) waste metal that is usually recycled? 10.10 In a sand-casting mold, the V/A ratio of the riser should be (a) equal to, (b) greater than, or (c) smaller than the V/A ratio of the casting itself? 10.11 Which of the following riser types are completely enclosed within the sand mold and connected to the main cavity by a channel to feed the molten metal (two correct answers): (a) blind riser, (b) open riser, (c) side riser, and (d) top riser?
Describe the general differences between a call option and a futures contract. (LO1)
A Metric 16x2 bolt (16 mm diameter, 2 mm pitch) is subjected to a torque of 15 N-m during tightening. If the torque coefficient is 0.24, determine the tensile stress on the bolt.
Is the cost of funds obtained by finance companies very sensitive to market interest rate movements? Explain. (LO4)
What is meant by inflation bias? What factors affect the potential magnitude of inflation bias?
Threshold Concept 9) 1. What risks are involved in buying the latest version of the iPhone? Compare these with the risks of buying a house. (Threshold Concept 9) 2. Give some examples of ways in which it is possible to buy better information. Your answer should suggest that there is profitable business to be made in supplying information. (Threshold Concept 9) 3. Is there a role for government intervention in the provision of information?
What is the difference between the tentative minimum tax (TMT) and the AMT?
1. : Do you think leadership is more important or less important in today’s flatter, team-based organizations? Are some leadership styles better suited to such organizations as opposed to traditional hierarchical organizations? Explain.
Amber is a tax expert, whereas Rob is a tax novice. Explain how their process in identifying tax issues may differ.
How does the ILO/OECD definition differ from the economist’s definition? What is the significance of the phrase ‘available for work at current wages’ in the economist’s definition?
According to the video on composites, list the primary purpose of the matrix and the reinforcement in a composite.
On January 1, 2014, Millay Inc. paid $700,000 for 10,000 shares of Genso Company’s voting common stock, which was a 10% interest in Genso. At that date, the net assets of Genso totaled $6,000,000. The fair values of all of Genso’s identifiable assets and liabilities were equal to their book values. Millay does not have the ability to exercise significant influence over the operating and financial policies of Genso. Millay received dividends of $1.50 per share from Genso on October 1, 2014. Genso reported net income of $550,000 for the year ended December 31, 2014. On July 1, 2015, Millay paid $2,325,000 for 30,000 additional shares of Genso Company’s voting common stock which represents a 30% investment in Genso. The fair values of all of Genso’s identifiable assets net of liabilities were equal to their book values of $6,550,000. As a result of this transaction, Millay has the ability to exercise significant influence over the operating and financial policies of Genso. Millay received dividends of $2.00 per share from Genso on April 1, 2015, and $2.50 per share on October 1, 2015. Genso reported net income of $650,000 for the year ended December 31, 2015, and $350,000 for the 6 months ended December 31, 2015. Instructions (For both purchases, assume any excess of cost over book value is due to goodwill.) (a) Prepare a schedule showing the income or loss before income taxes for the year ended December 31, 2014, that Millay should report from its investment in Genso in its income statement issued in March 2015. (b) During March 2016, Millay issues comparative financial statements for 2014 and 2015. Prepare schedules showing the income or loss before income taxes for the years ended December 31, 2014 and 2015, that Millay should report from its investment in Genso.
Would an intensification of government regulation constitute a positive or negative economic shock in RBC models?
Oil Products Company purchases an oil tanker depot on January 1, 2014, at a cost of $600,000. Oil Products expects to operate the depot for 10 years, at which time it is legally required to dismantle the depot and remove the underground storage tanks. It is estimated that it will cost $75,000 to dismantle the depot and remove the tanks at the end of the depot’s useful life. Instructions (a) Prepare the journal entries to record the depot and the asset retirement obligation for the depot on January 1, 2014. Based on an effective-interest rate of 6%, the present value of the asset retirement obligation on January 1, 2014, is $41,879. (b) Prepare any journal entries required for the depot and the asset retirement obligation at December 31, 2014. Oil Products uses straight-line depreciation; the estimated salvage value for the depot is zero. (c) On December 31, 2023, Oil Products pays a demolition firm to dismantle the depot and remove the tanks at a price of $80,000. Prepare the journal entry for the settlement of the asset retirement obligation.
A 300-mm-long wrench is used to tighten a Metric 20x2.5 bolt. The proof strength of the bolt for the particular alloy is 380 MPa. The torque coefficient is 0.21. Determine the maximum force that can be applied to the end of the wrench so that the bolt does not permanently deform.
What are the two basic methods by which the circuit pattern is transferred to the copper surface of the boards?
Suppose you asked your favorite AI query tool the following question: “What is the Kiddie Tax?” The AI tool provided the following response:
On July 31, 2014, Mexico Company paid $3,000,000 to acquire all of the common stock of Conchita Incorporated, which became a division of Mexico. Conchita reported the following balance sheet at the time of the acquisition. It was determined at the date of the purchase that the fair value of the identifiable net assets of Conchita was $2,750,000. Over the next 6 months of operations, the newly purchased division experienced operating losses. In addition, it now appears that it will generate substantial losses for the foreseeable future. At December 31, 2014, Conchita reports the following balance sheet information. It is determined that the fair value of the Conchita Division is $1,850,000. The recorded amount for Conchita’s net assets (excluding goodwill) is the same as fair value, except for property, plant, and equipment, which has a fair value $150,000 above the carrying value. Instructions (a) Compute the amount of goodwill recognized, if any, on July 31, 2014. (b) Determine the impairment loss, if any, to be recorded on December 31, 2014. (c) Assume that fair value of the Conchita Division is $1,600,000 instead of $1,850,000. Determine the impairment loss, if any, to be recorded on December 31, 2014. (d) Prepare the journal entry to record the impairment loss, if any, and indicate where the loss would be reported in the income statement. Salaries and Other Expenses Number Employee (excluding Building of Projects Benefits Depreciation Charges) Completed projects with long-term benefits 15 $ 90,000 $50,000 Abandoned projects or projects that benefit the current period 10 65,000 15,000 Projects in process—results indeterminate 5 40,000 12,000 Total 30 $195,000 $77,000 Current assets $ 800,000 Current liabilities $ 600,000 Noncurrent assets 2,700,000 Long-term liabilities 500,000 Total assets $3,500,000 Stockholders’ equity 2,400,000 Total liabilities and stockholders’ equity $3,500,000 Current assets $ 450,000 Noncurrent assets (including goodwill recognized in purchase) 2,400,000 Current liabilities (700,000) Long-term liabilities (500,000) Net assets $1,650,000
Hawkeye Corporation reports current E&P of $300,000 this year and accumulated E&P at the beginning of the year of $200,000. Hawkeye distributed $400,000 to its sole shareholder, Kinsella, on December 31 of this year. Kinsella’s tax basis in his Hawkeye stock before the distribution is $75,000.
A steel collar whose outside diameter = 3.000 in at room temperature is to be shrink fitted onto a steel shaft by heating it to an elevated temperature while the shaft remains at room temperature. The shaft diameter = 1.500 in. For ease of assembly when the collar is heated to an elevated temperature of 1000°F, the clearance between the shaft and the collar is to be 0.007 in. Determine (a) the initial inside diameter of the collar at room temperature so that this clearance is satisfied, (b) the radial pressure and (c) maximum effective stress on the resulting interference fit at room temperature (70°F). For steel, the elastic modulus = 30,000,000 lb/in2 and coefficient of thermal expansion = 6.7 x 10-6 in/in per °F.
Which tax entity types are generally allowed to use the cash method of accounting?
Describe the graduated-payment mortgage. What type of homeowners would prefer this type of mortgage? (LO2)
The life of a business is divided into specific time periods, usually a year, to measure results of operations for each such time period and to portray financial conditions at the end of each period. (a) This practice is based on the accounting assumption that the life of the business consists of a series of time periods and that it is possible to measure accurately the results of operations for each period. Comment on the validity and necessity of this assumption. (b) What has been the effect of this practice on accounting? What is its relation to the accrual system? What influence has it had on accounting entries and methodology?
When salaries and wages expense for the year is computed, why are beginning accrued salaries and wages subtracted from, and ending accrued salaries and wages added to, salaries and wages paid during the year?
1. Draw a similar diagram to Figure 24.9, only this time assume that the two goods are good a measured on the vertical axis and good b measured on the horizontal axis. Assume that the country has a comparative advantage in good a. (Note that the world price ratio this time will be shallower than the domestic pre-trade price ratio.) Mark the level of exports of a and imports of b. 2. Is it possible to gain from trade if competition is not perfect?
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