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- Away from residential areas and schools (noise)
- Clear atmosphere, free from smoke/haze (visibility)
- Adequate spacing from other airports
- Good drainage and level terrain
Steroid hormone synthesis occurs mainly in which organelle?
Smooth ER contains enzymes for lipid and steroid synthesis (e.g., in testes, ovaries, adrenal cortex). Rough ER makes proteins; Golgi modifies; lysosomes digest.
Draft statement of financial position: Ordinary share capital $900,000; Share premium $80,000; General reserve $96,000; Retained earnings (opening) $230,000; Profit for year $145,000. What is the maximum dividend the company can declare?
Option C ($471,000) is correct.
Dividends can only be paid from distributable (revenue) reserves:
- Retained earnings: $230,000
- Profit for year: $145,000
- General reserve: $96,000
Total = $471,000
Share premium ($80,000) is a capital reserve โ not distributable.
The textbook traces the evolution of the advertising agency model:
- Pre-1880: Advertising agents were simply middlemen who bought space from newspapers and resold it to advertisers at a profit
- ~1880: N. W. Ayer and Son of Philadelphia introduced the “open contract” โ they would be the advertiser's sole agent and price ad space at cost plus a fixed commission. This eliminated price competition among agencies
- By 1892: Ayer hired the first full-time copywriter; other agencies followed
- 1893: The American Newspaper Publishers Association agreed not to offer discounts to direct advertisers, forcing all advertisers to use agents
- 1901: Curtis Publishing Company (Ladies' Home Journal) adopted the same practice; magazines followed
- 1919: The cost-plus-commission basis was accepted industry-wide, with the commission standardised at 15 percent โ a rate that remained the industry standard for decades
This transformation turned advertising agencies into creative service providers (writing copy, creating logos and slogans, managing artwork) rather than mere space brokers.
B Limited had credit sales of $3,285,000 and year-end receivables of $405,000. If they had offered cash discounts, receivables would have been $351,000 and the allowance for doubtful debts would have decreased by $9,000. What would be the change in trade receivables turnover (in days)?
Current Turnover = ($405,000 / $3,285,000) $\times$ 365 = 45 days.
New Turnover = ($351,000 / $3,285,000) $\times$ 365 = 39 days.
Difference = 45 - 39 = 6 days faster. Note: Allowance for doubtful debts does not affect the calculation of the trade receivables turnover ratio (which uses gross receivables).
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