What are the ramifications of not correcting errors?

CC 423 Intermediate Financial Accounting III WEEK 5 DQ

Changes in Accounting Principles

What is a change in accounting principle? How do you determine if a change in principle should be reported retroactively, currently, or prospectively? How do these changes affect the financial statements?

Errors

Why do accountants make errors? What types of errors may occur? Why is it necessary to correct them? What are the ramifications of not correcting errors?

Many of you have worked as bookkeepers and accountants doing various reconciliations of different accounts. Accountants should never have accounts that are out of balance. Have you ever found instances where you end up reconciling an account and find you are off a few cents, say under a dollar? What do you normally do? For those of you who have not performed accounting, in your opinion what would be the proper procedure to follow?

Income statement for the month of January?

he Cafeteria of The Defiance College

On January 10, 2010, the first day of the spring semester, the cafeteria of The Defiance College purchased for cash enough paper napkins to last the entire 16-week semester. The total cost was $4,800.

Required:

Use the horizontal model to show the effects of recording the following:

a. The purchase of the paper napkins, assuming that the purchase was initially recorded as an expense.

b. At January 31, it was estimated that the cost of the paper napkins used during the first three weeks of the semester totaled $950. Use the horizontal model to show the adjustments that should be made as of January 31 so that the appropriate amount of expense will be shown in the income statement for the month of January.

c. Use the horizontal model to show the effects of the alternative way of recording the initial purchase of napkins.

d. Use the horizontal model to show the effects of the adjustment that should occur at January 31 if the initial purchase had been recorded as in c.

e. Consider the effects that entries a and b would have on the financial statements of The Defiance College. Compare these effects to those that would be caused by entries c and d. Are there any differences between these alternative sets of entries on the

1. Income statement for the month of January?

What does it mean if a bond is purchased at par, discount and premium?

Accounting assignment.

Accounting assignment. Areas of Focus: • Define Bonds. Why does a company purchase bonds? What is the basic journal entry to record a bond purchase? What does it mean if a bond is purchased at par, discount and premium? How are these bond purchases recorded? • What does it mean to issue bonds? Why does a company issue bonds? There are two methods a company can choose to amortize a discount or premium – describe them. What does amortize mean? • What is the statement of cash flows? Describe the two forms of the statement. Describe each of the categories on the statement and what is included in each category.Bond Purchases: (Understanding how a company records bonds that they purchased) http://principlesofaccounting.com/chapter9/chapter9.html#url scroll down to held to maturity securitiesB-09.05-07 Bond investment purchased at par, premium & discount Issuing Bonds: (Understanding how a company records bonds that they issued) http://www.principlesofaccounting.com/chapter13/chapter13.html#NatureB-13.06 -08 Bonds at par, premium and discount – straight line amortization No Ch 15 HW  Preparing the operating section of the statement of cash flows – indirect http://www.principlesofaccounting.com/chapter16/chapter16.html#UsingB-16.14 Preparation of statement of cash flows (indirect)

Discuss. d. Around what value, if any, is the cost of dark chocolate bars concentrated?

CHAPTER 2 Organizing and Visualizing Data FIGURE

2.37 The file contains the cost per ounce ($) for a sample of 14 dark chocolate bars: DarkChocolate SELF BBCost Test 54 CHAPTER 2 Organizing and Visualizing Data FIGURE 2.14 Cumulative percentage polygons of the 2009 return of intermediate government bonds and short-term corporate bond funds Figure 2.14 shows cumulative percentage polygons created using Excel; Figure 2.13 shows cumulative percentage polygons created using Minitab. 0.68 0.72 0.92 1.14 1.42 0.94 0.77 0.57 1.51 0.57 0.55 0.86 1.41 0.90

a. Construct an ordered array. b. Construct a stem-and-leaf display. c. Does the ordered array or the stem-and-leaf display provide more information? Discuss. d. Around what value, if any, is the cost of dark chocolate bars concentrated? Explain

Answer

Explain how their actions affect the company, their employees, and the community at large.

Homework 1

The homework assignments must be submitted online as a Word or PDF document only. Please make sure that all homework assignments have been proofread carefully to avoid any English grammar, punctuation or spelling errors. All sources must be noted within the body of the paper as well as on a reference page. A title page is also required – with the assignment title (Homework #1) – date of the submission – and your name. Any paper that is found to be more than 20% similar to published documents will be classified as plagiarized and will receive a grade of zero. The assignment will not be allowed to be made up and the incident will be reported to the school as an academic violation. Likewise – if a student copies another student’s work (from any semester) the student will receive a grade of zero. The incident will be reported to the school and the work cannot be made up.

The paper must be a minimum of 3 pages double spaced excluding the title and reference page. Don’t forget to include the source within the paper and on the reference page.

Instructions:

Chapter two speaks to social responsibility. For this assignment research a company not identified in the chapter that you feel shows their social responsibility. Remember to cite you source. In the assignment answer the following elements:

1. Describe the company briefly

2. Describe what the company does to show their social responsibility

3. Explain how their actions affect the company, their employees, and the community at large

4. Describe any additional ways the company may continue their social responsibility

Analyze the economics of New Orleans in light of the above parameters and develop your own Cost-Benefit Analysis (CBA) for rebuilding.

The Case For, or Against, New Orleans

Sometimes one’s choices may involve catastrophic decisions and bear great risk and yet there can be no clear answer. For example, if a person gets a divorce, shutters a plant, sells a losing investment, or closes their business, will he or she be better off? The following case incorporates nearly all of the material you have covered this far and presents an example of one such choice where nearly all of the alternatives have a significant downside risk.

Review the following information from the article “A Cost-Benefit Analysis of the New Orleans Flood Protection System” by Stéphane Hallegatte (2005):

•Hallegatte, an environmentalist, assigns a probability (p) of a Katrina-like hurricane of 1/130 in his cost-benefit analysis for flood protection. However, the levees that protect New Orleans also put other regions at greater risk. You may assume the frequency of other floods is greater than Katrina-like events (Vastag & Rein, 2011).

•The new levees that were built in response to Katrina cost approximately fourteen billion dollars (in 2010). This is in addition to the direct costs of Katrina (eighty-one billion dollars in 2005).

•50 percent of New Orleans is at or below sea level.

•A 100-year event means that there is a 63 percent chance that such an event will occur within a 100-year period.

•The following are the interested (anchored and/or biased) constituencies: ◦Residents of New Orleans—both those that can move and those who cannot move

◦Residents of the surrounding floodplains at risk from New Orleans levees

◦The Mayor of New Orleans

◦The federal government—specifically taxpayers and the Federal Emergency Management Agency (FEMA)

Assume that the availability heuristics makes people more risk averse (populations drop, at least in the short term). Consider how this would affect the local economy.

You are an analyst at FEMA and are in charge of developing a recommendation for both the state and the local governments on whether or not to redevelop New Orleans.

Write a report with your recommendation. Address the following in your report:

Part A

•Analyze the economics of New Orleans in light of the above parameters and develop your own Cost-Benefit Analysis (CBA) for rebuilding.

•Evaluate the value of the CBA for each constituency and integrate these estimates into a scenario model and/or decision tree. Analyze the results.

•Clearly each of these constituencies may both overlap and be prey to a variety of group dynamics internally. For one of these options, discuss the decision pitfalls to which they may be susceptible and make a recommendation on how to alleviate these pressures.

•Starting with your CBA, estimate the relevant expected utility for the interested constituencies.

Note: You need not have absolute amounts but your relevant utilities should be proportional to one another.

Hint: If you assume that your total CBA for New Orleans is fixed for each constituency (do not forget the overlaps), then each constituency will have a piece of the utility pie.

Part B

•Make a case for or against rebuilding the city of New Orleans. This should be an executive summary; be concise and brief. Include exhibits.

•Whether you are for or against, discuss how social heuristics could be used to your advantage, both ethically and unethically, in making your case. You may choose to fill the role of one of the constituents, if you prefer.

RELEVANT ARTICLES:

Hallegatte, S. (2006). A cost-benefit analysis of the New Orleans flood protection system. Center for Environmental Sciences and Policy. Stanford University. Retrieved from

http://hal.cirad.fr/docs/00/16/46/28/PDF/Hallegatte_NewOrleans_CBA9.pdf

Vastag, B., & Rein, L. (2011, May 11). In Louisiana, a choice between two floods. The Washington Post. Retrieved from

http://www.washingtonpost.com/national/in-louisiana-a-choice-between-tw

Evaluate the implementation process related to strategy management.

Assignment 2: Successful Domestic Company Goes Global!

Due Week 6 and worth 280 points

imagine that you are the CEO of a successful domestic company. In the last 6 months, many potential clients in foreign countries have expressed a desire to conduct business with you. You know that in order for your company to grow, you will have to expand overseas. You have recently attended a local three (3)-day international trade exposition and have gathered many brochures on the foreign companies interested in doing business with your company.

After meeting with the Executive Committee of your successful domestic company, you decide that you will need to identify a minimum of two (2) countries for expansion and two (2) expatriates whom you will send into the chosen countries. The selected expatriates will learn about the countries’ cultures and business activities there. You must prepare a report for the potential employees who may want to take an overseas assignment, the Executive Committee, and the Board of Directors.

Use the Internet and Strayer Library to research possible countries for expansion. Next, conduct research on leveraging expatriates over country nationals for business overseas. Finally, research books that could help expatriates in their transition to working overseas.

Note:　You may create and / or assume all necessary assumptions needed for the completion of this assignment.

Write an eight to ten (8-10) page paper in which you:

Create a guide to leveraging expatriates. The guide should include four to six (4-6) sources that address benefits and challenges of sending expatriates to other countries.

Examine the major benefits that this report can provide for the organization, and suggest two (2) uses for the information contained therein. Justify your response.

Analyze the major factors (e.g., distance, cultural background, knowledge of the related countries, languages spoken, relatives who may live in another country, etc.) that would influence your choice of countries into which your company would expand. Recommend two (2) countries for expansion. Provide a rationale for your response.

Determine three (3) criteria that you would consider when deciding which employees to send abroad. Justify your response.

Propose the major methods and / or incentives you would use in order to encourage the selected employees to become expatriates. Provide a rationale for your response.

Recommend one (1) strategy to ensure that both the Executive Committee and the Board of Directors are committed to the expansions. Justify your response.

Recommend two (2) books that the selected expatriates should take with them when they go overseas. Provide a rationale for your response.

Outline a guide for expatriates who will reside within another country for one to two (1-2) years. The related guide should cover the following topics: selecting items to pack, accommodating a vehicle (i.e., leave behind or send overseas), shipping or selling furniture, moving pets, and arranging accommodations for children and / or family residing in another country for the discussed length of time.

Develop a framework for your presentation. The framework should include the following:

Relevant visuals

Statistics that support the decision to expand into the identified countries

A feasibility study of your company’s proposed expansion to the countries in question

Information related to renting or buying land or a building

Any other information relevant to the case for expansion

Use at least four (4) quality academic resources in this assignment. Note: Wikipedia and other similar websites do not qualify as academic resources.

Your assignment must follow these formatting requirements:

Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.

Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

Evaluate the implementation process related to strategy management.

Use technology and information resources to research issues in global management.

Write clearly and concisely about global management using proper writing mechanics.

What unique or lowest-cost resources can you draw upon that others cannot?

For this assignment, you will choose an organization to analyze. This organization can be one you are personally familiar with, or one you have observed to be an effective organization, You now become a newly appointed senior leader in that organization.

As a new leader, you must prepare a report for the CEO that assesses the organization’s overall alignment between its vision, mission, values, and strategy. This report should consist of the following sections:

An analysis of the strategic cascade of the organization This includes assessing the organization’s strategy and market position. Use the framework implied in Michael Porter’s (1997) article “What is Strategy.” When describing the business strategy of your organization, consider the following questions:

What is the target market (target customer)?
What is your organization’s value proposition (How does it deliver value that satisfies the target’s wants and needs?)?
How is your product or service positioned in the market (What specific features and attributes define the product/service and how is its value reflected in its pricing, distribution, marketing communications, etc.?)?
How is your organization sustainably different from your competitors (What is the source of uniqueness and how sustainable is it from being diminished by competitors?)?

A strengths, weaknesses, opportunities, and threats (SWOT) analysis A SWOT analysis is a strategy planning tool that examines both internal and external environments for factors and trends that should shape planning and operations over the next five years. Environmental factors internal to the company are classified as strengths (to be leveraged) or weaknesses (to be mitigated), while external factors are classified as either opportunities (to be pursued) or threats (to be monitored and responded to). Some primer questions for the SWOT analysis include the following: Strengths

What advantages does your organization have?
What do you do better than anyone else?
What unique or lowest-cost resources can you draw upon that others cannot?
What do people in your market see as your strengths?
What factors mean that you “get the sale”?
What is your organization’s unique selling proposition (USP)?
What aspects of your product or service could you improve?
What market segments or competitive areas should you avoid?
What are people in your market likely to see as weaknesses?
What factors can make you lose sales?
What good opportunities can you spot?
What interesting trends are you aware of? Useful opportunities can come from such things as the following:
- Changes in technology and markets on both a broad and narrow scale
- Changes in government policy related to your field
- Changes in social patterns, population profiles, lifestyle changes, and so on
- Local events
What obstacles do you face?
What are your competitors doing?
Are quality standards or specifications for your job, products, or services changing?
Is changing technology threatening your position?
Do you have bad debt or cash-flow problems?
Could any of your weaknesses seriously threaten your business?

WeaknessesOpportunitiesThreats

A summary of the internal environment, including the organization’s values and the key elements of the organization architecture that influence worker behavior. Include the following characteristics when analyzing the internal environment:

Structure: This includes the ways the organization assigns formal roles and responsibilities, decision-making authority, expertise and skills, and work tasks. Think of the organization chart and how its implied structure directs the decision making, resource allocation, and workflow of the organization. Is it consistent with the strategy?
Systems: This comprises the information flows that coordinate activities between groups and across the organization structure while helping direct worker behavior, including performance management, financial management, operating, forecasting and planning, and other regulating mechanisms. How do these systems help align workers and their actions with the strategy?
Culture: This consists of the unwritten rules and norms that govern worker behavior and help coordinate the activities across structural boundaries. Is the organization culture an enabler or impediment to the corporate strategy? What specific behaviors embedded in the culture support the strategy? What specific behaviors block the strategy?

A synthesis of the information evaluating the ability of the organization to implement the strategy using Kouzes and Posner’s Five Practices (for example, modeling the way) as a framework. Include answers to the following:

Company Culture
- Describe the values and culture of your organization.
- What are the values of your organization?
- How are they reflected in the behaviors you see at work?
Employee Behaviors
- Describe the behaviors in your organization.
- Are these behaviors consistent with the business strategy?
- Where do they conflict with the strategy?
- What new behaviors are required to align with the strategy?
Leadership
- How might you and other leaders create new behaviors to support the strategy?
- What specific actions would you implement to communicate, motivate, model the way, coach, inspire the vision, challenge the process, and encourage the heart?

Your response to each part of the assignment should be approximately three pages.

Your final product will be in a word document and be approximately 10–12 pages in length and utilize 4–7 scholarly sources in your research. Your paper should be written in a clear, concise, and organized manner; demonstrate ethical scholarship in accurate representation and attribution of sources; and display accurate spelling, grammar, and punctuation.

Explain how the concept of justice relates to the field of criminal justice, emphasizing how it should be applied by law enforcement officers.

Assignment 2: Incorporating Kohlberg’s Stages of Moral Development into the Justice System

Due Week 6 and worth 140 points

Before writing your position statement on Incorporating Kohlberg’s Stages of Moral Development into the Justice System, you should:

1. Refer to the Overall Scenario for Assignments.

2. Read the associated chapters.

3. Research three (3) peer-reviewed articles relevant to moral development, especially about Kohlberg’s Stages of Moral Development applied to different populations.

Write a two to three (2-3) page paper in which you:

1. Make revisions to Assignment 1 based on your professor’s feedback.

2. Define the concept of justice.

3. Explain how the concept of justice relates to the field of criminal justice, emphasizing how it should be applied by law enforcement officers.

4. Explain three (3) ways Kohlberg’s Stages of Moral Development can be applied to the evaluation of three (3) types of criminals who are at different stages of moral development.

5. Recommend three (3) effective and ethical methods of deterrence for the selected criminals. (One (1) method for each criminal.)

6. Support your position statement with three (3) relevant and credible sources, documented according to latest edition of APA. (Note: Do not use open source sites such as Ask.com, eHow.com, Answers.com, and Wikipedia.)

Analyze how production and cost functions in the short run and long run affect the strategy of individual firms.

Assignment 1: Demand EstimationaaDue Week 3 and worth 200 points

Imagine that you work for the maker of a leading brand of low-calorie frozen, microwavable food that estimates the following demand equation for its product using data from 26 supermarkets around the country for the month of April.

For a refresher on independent and dependent variables, please go to Sophia’s Website and review the Independent and Dependent Variables tutorial, located at http://www.sophia.org/tutorials/independent-and-dependent-variables–3.

Faculty Note: Prior to Week 1, you will select one (1) of the two (2) following equation options for students to use in order to complete this assignment.

Copy and paste the selected equation option into an MS-Word document.
Attach the MS-Word document with the selected equation to Assignment 1 within the course shell.

Option 1

Note: The following is a regression equation. Standard errors are in parentheses for the demand for widgets.

QD = – 5200 – 42P + 20PX + 5.2I + .20A + .25M

(2.002) (17.5) (6.2) (2.5) (0.09) (0.21)

R² = 0.55 n = 26 F = 4.88

Your supervisor has asked you to compute the elasticities for each independent variable. Assume the following values for the independent variables:

Q = Quantity demanded of 3-pack units

P (in cents) = Price of the product = 500 cents per 3-pack unit

PX (in cents) = Price of leading competitor’s product = 600 cents per 3-pack unit

I (in dollars) = Per capita income of the standard metropolitan statistical area

(SMSA) in which the supermarkets are located = $5,500

A (in dollars) = Monthly advertising expenditures = $10,000

M = Number of microwave ovens sold in the SMSA in which the

supermarkets are located = 5,000

Option 2

Note: The following is a regression equation. Standard errors are in parentheses for the demand for widgets.

QD = -2,000 – 100P + 15A + 25PX + 10I

(5,234) (2.29) (525) (1.75) (1.5)

R² = 0.85 n = 120 F = 35.25

Your supervisor has asked you to compute the elasticities for each independent variable. Assume the following values for the independent variables:

Q = Quantity demanded of 3-pack units

P (in cents) = Price of the product = 200 cents per 3-pack unit

PX (in cents) = Price of leading competitor’s product = 300 cents per 3-pack unit

I (in dollars) = Per capita income of the standard metropolitan statistical area

(SMSA) in which the supermarkets are located = $5,000

A (in dollars) = Monthly advertising expenditures = $640

Write a four to six (4-6) page paper in which you:

Compute the elasticities for each independent variable. Note: Write down all of your calculations.
Determine the implications for each of the computed elasticities for the business in terms of short-term and long-term pricing strategies. Provide a rationale in which you cite your results.
Recommend whether you believe that this firm should or should not cut its price to increase its market share. Provide support for your recommendation.
Assume that all the factors affecting demand in this model remain the same, but that the price has changed. Further assume that the prices are 100, 200, 300, 400, 500, 600 cents.
a) Plot the demand curve for the firm.
b) Plot the corresponding supply curve on the same graph using the following MC/supply function Q = -7909.89 + 79.0989P with the same prices.
c) Determine the equilibrium price and quantity.
d) Outline the significant factors that could cause changes in supply and demand for the product. Determine the primary manner in which both the short-term and the long-term changes in market conditions could impact the demand for, and the supply, of the product.

Indicate the crucial factors that could cause rightward shifts and leftward shifts of the demand and supply curves.
Use at least three (3) quality academic resources in this assignment. Note: Wikipedia does not qualify as an academic resource.

Your assignment must follow these formatting requirements:

Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; citations and references must follow APA or school-specific format. Check with your professor for any additional instructions.
Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page and the reference page are not included in the required assignment page length.

The specific course learning outcomes associated with this assignment are:

Analyze how production and cost functions in the short run and long run affect the strategy of individual firms.
Apply the concepts of supply and demand to determine the impact of changes in market conditions in the short run and long run, and the economic impact on a company’s operations.
Use technology and information resources to research issues in managerial economics and globalization.
Write clearly and concisely about managerial economics and globalization using proper writing mechanics.

Grading for this assignment will be based on answer quality, logic / organization of the paper, and language and writing skills, using the following rubric.

Points: 200	Assignment 1: Demand Estimation
Criteria	Unacceptable Below 70% F	Fair 70-79% C	Proficient 80-89% B	Exemplary 90-100% A
1. Compute the elasticities for each independent variable. Note: Write down all of your calculations. Weight: 15%	Did not submit or incompletely computed the elasticities for each independent variable.	Partially computed the elasticities for each independent variable.	Satisfactorily computed the elasticities for each independent variable.	Thoroughly computed the elasticities for each independent variable.
2. Determine the implications for each of the computed elasticities for the business in terms of short-term and long-term pricing strategies. Provide a rationale in which you cite your results. Weight: 15%	Did not submit or incompletely determined the implications for each of the computed elasticities for the business in terms of short-term and long-term pricing strategies. Did not submit or incompletely provided a rationale in which you cite your results.	Partially determined the implications for each of the computed elasticities for the business in terms of short-term and long-term pricing strategies. Partially provided a rationale in which you cite your results.	Satisfactorily determined the implications for each of the computed elasticities for the business in terms of short-term and long-term pricing strategies. Satisfactorily provided a rationale in which you cite your results.	Thoroughly determined the implications for each of the computed elasticities for the business in terms of short-term and long-term pricing strategies. Thoroughly provided a rationale in which you cite your results.
3. Recommend whether you believe that this firm should or should not cut its price to increase its market share. Provide support for your recommendation. Weight: 10%	Did not submit or incompletely recommended whether you believe that this firm should or should not cut its price to increase its market share. Did not submit or incompletely provided support for your recommendation.	Partially recommended whether you believe that this firm should or should not cut its price to increase its market share. Partially provided support for your recommendation.	Satisfactorily recommended whether you believe that this firm should or should not cut its price to increase its market share. Satisfactorily provided support for your recommendation.	Thoroughly recommended whether you believe that this firm should or should not cut its price to increase its market share. Thoroughly provided support for your recommendation.
4a. Assume that all the factors affecting demand in this model remain the same, but that the price has changed. Further assume that the changed prices are 100, 200, 300, 400, 500, 600 cents. Plot the demand curve for the firm. Weight: 5%	Did not submit or incompletely plotted the demand curve for the firm.	Partially plotted the demand curve for the firm.	Satisfactorily plotted the demand curve for the firm.	Thoroughly plotted the demand curve for the firm.
4b. Assume that all the factors affecting demand in this model remain the same, but that the price has changed. Further assume that the changed prices are 100, 200, 300, 400, 500, 600 cents. Plot the corresponding supply curve on the same graph using the MC/supply function Q = -7909.89 + 79.0989P with the same prices. Weight: 5%	Did not submit or incompletely plotted the corresponding supply curve on the same graph using the supply function Q = -7909.89 + 79.0989P with the same prices.	Partially plotted the corresponding supply curve on the same graph using the supply function Q = -7909.89 + 79.0989P with the same prices.	Satisfactorily plotted the corresponding supply curve on the same graph using the supply function Q = -7909.89 + 79.0989P with the same prices.	Thoroughly plotted the corresponding supply curve on the same graph using the supply function Q = -7909.89 + 79.0989P with the same prices.
4c. Assume that all the factors affecting demand in this model remain the same, but that the price has changed. Further assume that the changed prices are 100, 200, 300, 400, 500, 600 cents. Determine the equilibrium price and quantity. Weight: 5%	Did not submit or incompletely determined the equilibrium price and quantity.	Partially determined the equilibrium price and quantity.	Satisfactorily determined the equilibrium price and quantity.	Thoroughly determined the equilibrium price and quantity.
4d. Assume that all the factors affecting demand in this model remain the same, but that the price has changed. Further assume that the changed prices are 100, 200, 300, 400, 500, 600 cents. Outline the significant factors that could cause changes in supply and demand for the product. Determine the primary manner in which both the short-term and the long-term changes in market conditions could impact the demand for, and the supply, of the product. Weight: 10%	Did not submit or incompletely outlined the significant factors that could cause changes in supply and demand for the product. Did not submit or incompletely determined the primary manner in which both the short-term and the long-term changes in market conditions could impact the demand for, and the supply, of the product.	Partially outlined the significant factors that could cause changes in supply and demand for the product. Partially determined the primary manner in which both the short-term and the long-term changes in market conditions could impact the demand for, and the supply, of the product.	Satisfactorily outlined the significant factors that could cause changes in supply and demand for the product. Satisfactorily determined the primary manner in which both the short-term and the long-term changes in market conditions could impact the demand for, and the supply, of the product.	Thoroughly outlined the significant factors that could cause changes in supply and demand for the product. Thoroughly determined the primary manner in which both the short-term and the long-term changes in market conditions could impact the demand for, and the supply, of the product.
5. Indicate the crucial factors that could cause rightward shifts and leftward shifts of the demand and supply curves. Weight: 10%	Did not submit or incompletely indicated the crucial factors that could cause rightward shifts and leftward shifts of the demand and supply curves.	Partially indicated the crucial factors that could cause rightward shifts and leftward shifts of the demand and supply curves.	Satisfactorily indicated the crucial factors that could cause rightward shifts and leftward shifts of the demand and supply curves.	Thoroughly indicated the crucial factors that could cause rightward shifts and leftward shifts of the demand and supply curves.
6.3 references Weight: 5%	No references provided	Does not meet the required number of references; some or all references poor quality choices.	Meets number of required references; all references high quality choices.	Exceeds number of required references; all references high quality choices.
7.Writing Mechanics, Grammar, and Formatting Weight: 5%	Serious and persistent errors in grammar, spelling, punctuation, or formatting.	Partially free of errors in grammar, spelling, punctuation, or formatting.	Mostly free of errors in grammar, spelling, punctuation, or formatting.	Error free or almost error free grammar, spelling, punctuation, or formatting.
8.Appropriate use of APA in-text citations and reference section Weight: 5%	Lack of in-text citations and / or lack of reference section.	In-text citations and references are provided, but they are only partially formatted correctly in APA style.		In-text citations and references are error free or almost error free and consistently formatted correctly in APA style.
9.Information Literacy / Integration of Sources Weight: 5%	Serious errors in the integration of sources, such as intentional or accidental plagiarism, or failure to use in-text citations.		Sources are mostly integrated using effective techniques of quoting, paraphrasing, and summarizing.	Sources are consistently integrated using effective techniques of quoting, paraphrasing, and summarizing.
10.Clarity and Coherence of Writing Weight: 5%	Information is confusing to the reader and fails to include reasons and evidence that logically support ideas.	Information is partially clear with minimal reasons and evidence that logically support ideas.