A、Paul Allen
B、Alex
C、John
D、Steven Jobs
Shopping at Second-hand Clothing Stores
When 33-year-old Pete Barth was in college, shopping at second-hand clothing stores was just something he did-"like changing the tires on his car." He looked at his budget and decided he could save a lot of money by shopping for clothes at thrift shops.
"Even new clothes are fairly disposable (可丢掉的) and wear out after a couple of years,"Barth said. "In thrift shops, you can find some great stuff whose quality is better than new clothes."
Since then, Barth, who works at a Goodwill thrift shop in the US state of Florida, has found that there are all kinds of reasons for shopping for second-hand clothing. Some people, like him,shop to save money. Some shop for a crazy-looking shirt. And some shop as a means of conserving energy and helping the environment.
Pat Akins, an accountant at a Florida Salvation Army (SA) (救世军) thrift shop, said that, for her, shopping at thrift shops is a way to help the environment.
"When my daughter was little, we looked at it as recycling," Akins said. "Also, why pay 30 dollars for a new coat when you can get another one for a lot less?"
Akins said that the SA has shops all over the US-- "some as big as department stores". All of the clothes are donated (捐赠), and when they have a surplus (盈余). They&39;ll have "stuff a bag"specials where customers can fill a grocery sack with clothes for only 5 or 10 dollars.
Julia Slocum,22, points cut, however, that the huge amount of second-hand clothing in the US is the result of American wastefulness.
"I&39;d say that second-hand stores are the result of our wasteful, materialistic culture," said Slocum, who works for a pro-conservation organization, the Center for a New American Dream.
"Thrift shops prevent that waste from going to landfills (垃圾填埋场); they give clothing a second life, provide cheaper clothing for those who can&39;t afford new ones and generate (生成) income for charities. They also provide a way for the wealthy and middle classes to shed (摆脱) some of the guilt for their level of consumption."
Which statement about Barth is NOT true? 查看材料
A.He is 33 years old now
B.He works at a Goodwill thrift shop
C.He was a college student many years ago
D.He works at a Salvation Army thrift shop
Oscar Co designs and produces tracking devices. The company is managed by its four founders, who lack business administration skills. The company has revenue of $28m, and all sales are on 30 days’ credit. Its major customers are large multinational car manufacturing companies and are often late in paying their invoices. Oscar Co is a rapidly growing company and revenue has doubled in the last four years. Oscar Co has focused in this time on product development and customer service, and managing trade receivables has been neglected. Oscar Co’s average trade receivables are currently $5.37m, and bad debts are 2% of credit sales revenue. Partly as a result of poor credit control, the company has suffered a shortage of cash and has recently reached its overdraft limit. The four founders have spent large amounts of time chasing customers for payment. In an attempt to improve trade receivables management, Oscar Co has approached a factoring company. The factoring company has offered two possible options: Option 1 Administration by the factor of Oscar Co’s invoicing, sales accounting and receivables collection, on a full recourse basis. The factor would charge a service fee of 0·5% of credit sales revenue per year. Oscar Co estimates that this would result in savings of $30,000 per year in administration costs. Under this arrangement, the average trade receivables collection period would be 30 days. Option 2 Administration by the factor of Oscar Co’s invoicing, sales accounting and receivables collection on a non-recourse basis. The factor would charge a service fee of 1·5% of credit sales revenue per year. Administration cost savings and average trade receivables collection period would be as Option 1. Oscar Co would be required to accept an advance of 80% of credit sales when invoices are raised at an interest rate of 9% per year. Oscar Co pays interest on its overdraft at a rate of 7% per year and the company operates for 365 days per year. (a) Calculate the costs and benefits of each of Option 1 and Option 2 and comment on your findings. (b) Discuss reasons (other than costs and benefits already calculated) why Oscar Co may benefit from the services offered by the factoring company.
What are the relevant cashflows for this?
(2)Estimate the IRR of the project. And on financial grounds, whether the company should accept the project.
(Initial investment, Selling price, Sales volume, Variable cost).
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