Easy 18.5 The party to a draft who signs and sends the draft to the second party is called the a) drawer b) payee c) drawee d) broker Ans: a Section: Draft Level: Easy 18.6 RJR Nabisco sells its export receivables to a firm that takes responsibility for collecting payment from the importers. RJR has used a) accounts receivable financing b) factoring c) forfaiting d) letter of credit Ans: b Section: Factoring Level: Easy 18.7 The only U.S. agency dedicated solely to financing
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How do businesses grow? The objectives‚ which a company wants to achieve‚ can be varied. They can range from sales revenue maximization‚ increasing market share to growth. Growth is one of the most common and sought after corporate objectives because of its relative advantages. This is so because many perks come with the expansion of a business‚ which appease almost everyone. When a company grows it achieves economies of scale‚ it increases its market shares and thus wipes out competition
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Private equity Private equity is a source of investment capital from high net worth individuals and institutions for the purpose of investing and acquiring equity ownership in companies. Partners at private equity firms raise funds and manage these monies for the purpose of yielding favorable returns for their shareholder clients‚ typically with an investment horizon between four and seven years. These funds can be used in the purchase of shares of private companies‚ or in public companies
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cigarette brand for Philip Morris‚ was the dominant player in the premium priced market. While RJR was the second largest player in the market‚ RJR’s cigarette brands were fragmented. At the end of 1992‚ Marlboro had 24.4% unit market share‚ while each of the RJR brand cigarettes had less than 7% market share. Philip Morris‚ at 53% operating contribution margin‚ was significantly more profitable than RJR‚ at 34% operating contribution margin. Marlboro was essentially backed by the biggest‚ most
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There have been six merger waves in the historical mergers. Yong Rin (2011) contends that the first four merger waves were centered in the U.S. while the fifth and the sixth involved Europe and Asia. These six merger waves shared common features that they all occurred in cyclical patterns and ended with a stock market crash. What follows is the detail of each merger wave. First wave – 1897 to 1904 The first merger wave took place after the depression of 1883‚ peaked in 1899 and lasted until 1904
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need hierarchy Each of the women had different approach in terms of their needs. First one‚ Ellen Marram‚ was a high achiever. She studied at the prestige oxford university‚ found good jobs right afterwards‚ and was promotes 4 times in RJR Nabisco. This woman was very eager with her determined goals‚ always aimed for innovations‚ and that’s the reason she soon became an obvious candidate for CEO position. She didn’t consider the fact that she is a woman as an obstacle. She felt that her success
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Business Communication July 2013 Project Report on Kentucky Fried ChickenR (KFC) Presented to: Col. Sohail Presented by: Hammad Aziz (2113221) M. Daniyal Akram (2113158) Basit Ali Rana (2113157) Business Communication July 2013 Project Report on Kentucky Fried ChickenR (KFC) Presented to: Col. Sohail Presented by: Hammad Aziz (2113221) M. Daniyal Akram (2113158) Basit Ali Rana (2113157) Acknowledgement We are grateful to Allah‚ our Lord and Cherisher‚ for
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Case 1 – Debt Policy at UST Inc. 1) UST is the dominant producer of moist smokeless tobacco‚ or moist snuff‚ controlling approximately 77% of the market. UST has been one of the most profitable companies in corporate America with low debt compared to other companies in the tobacco industry and the company has been recognized by Forbes in terms of profitability by achieving return of capital of 92.1%. Price elasticity of its products is also important while evaluating. Smokeless tobacco industry
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2005 E 2006 E All Equity Financed Terminal Value (TV) 4812.50 Discounted CFs (1‚500) (96.72) 4.47 97.24 174.62 237.72 PV of TV 2311.15 NPV 1‚228.49 Scenario 2: Assuming $750‚000 fixed debt and perpetual. Under this scenario‚ the APV method is useful and appropriate to use because the debt of the project is fixed
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Adjusted Present Value Adjusted present value is an investment appraisal technique similar to net present value method. However‚ instead of using weighted average cost of capital as the discount rate‚ ungeared cost of equity is used to discount the cash flows from a project and there is an adjustment for the tax shield provided by related debt capital. Formula Adjusted Present Value = PV of Cash Flows using Ungeared Cost of Equity + Present Value of Tax Shield Where PV stands for ’present value’
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