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NEW QUESTION: 1
What is the correct order of steps used to create a VDC federation?

Answer:
Explanation:

NEW QUESTION: 2
Residco, Inc. expects net income of $800,000 for the next fiscal year. Its targeted and current capital
structure is 40 percent debt and 60 percent common equity. The director of capital budgeting has
determined that the optimal capital spending for next year is $1.2 million. Residco does not plan to issue
any new common equity next year. If Residco follows a strict residual dividend policy, what is the
expected dividend payout ratio for next year?
A. 10.0 percent.
B. 90.0 percent.
C. 40.0 percent.
D. 66.7 percent.
Answer: A
Explanation:
Choice "d" is correct. A strict dividend policy guides a company's management to pay no more (and no
less) in dividends from net income to generate a change in equity that produces or maintains a targeted
capital structure. The dividend pay out ratio is the ratio of dividends to income. The call of the question
requires the calculation of the ratio of dividends to income assuming income, capital projects and capital
structure amounts as follows:

Assuming the company is in compliance with the 40/60 Debt/Equity capital structure to begin with, 60% of
the $1,200,000 in capital projects will be financed by additions to equity the come from new earnings of
$ 800,000. The equity funded portion of capital projects is $720,000 ($1,200,000 x 60%).
Following a strict residual dividend policy, the company will pay out the difference between is additions to
equity ($800,000 in income) and the amounts reinvested in the business ($720,000).
The dividend will be $80,000. ($800,000 - $720,000).
The dividend payout ratio is, therefore, 10% ($80,000 in dividends/ $800,000 in income).
Choices "a", "b", and "c" are incorrect, per the above calculation.

NEW QUESTION: 3
Given the code fragment:

What is the result of the employees table has no records before the code executed?
A. 3 John 4 Jack
B. 1 Sam 3 John 4 Jack
C. 4 Jack
D. 1 Sam
Answer: A
Explanation:
AutoCommit is set to false. The two following statements will be within the same
transaction.
stmt.executeUpdate("insert into employees values(1,'Sam')");
stmt.executeUpdate("insert into employees values(2,'Jane')");
These two statements are rolled-back through (the savepoint is ignored! the savepoint
must be specified (e.g.
conn.rollback(save1); ) in the rollback if you want to rollback to the savepoint):
conn.rollback() ;
The next two insert statements are executed fine. Their result will be in the output.