RLGA02H3 Study Guide - Qibla, Dhikr, Ummah

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champagnefox463

11 Apr 2011

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Dhikr remembering" god"s name; chanted in sufi devotional exercises, sometimes while devotees dance in a circle. Muhammad"s sayings and early followers of islam, taken by muslims as a foundation for conduct and doctrine; a hadith is an individual unit of the literature and a complete collection of writings. Hajj the annual pilgrimage to mecca; one of the five pillars. Id al-fitr the 3 day holiday celebrating the end of the ramadan fast; the festival traditionally begins following the sighting of the new moon. Ijma" the consensus of religio-legal scholars used as a principle for extending application of islamic law. I t is meant to ensure the continued authenticity and truth of the three other sources of law. Encourages an active exchange of ideas among the scholars of the various schools; remaining the final arbiter of t ruth and error, expressed in the prophet"s declaration that my community will not agree on an error".

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Hawthorn Leisure Works (HLW) offers tennis courts and otherphysical fitness facilities to its members. The club has 2000members. Revenue is derived from annual membership fees and hourlycourt fees. The annual membership fees are: Individual $45, Student 30, Family 100.Approximately half the members are 'family', and the remainingmemberships are split equally between individuals and students. Forthe next two financial years, the hourly court fees are $8 and $12,depending on the season and the time of day (prime versus non-primetime). There are 10 courts at each club. The courts are availablefor 12 hours per day, from 9 am to 9 pm. The peak tennis seasonruns from October to April (181 days). During this period, courtusage averages from 90 to 100 per cent of capacity during primetime (5 to 9 pm) and from 50 to 60 per cent of capacity during theremaining hours (9 am to 4 pm). Daily court usage during theoff-season averages from only 20 to 40 per cent of capacity, and ischarged at $6 per hour. All of HLW's memberships expire at the endof September. A substantial amount of the cash receipts iscollected during the early part of the tennis season due to therenewal of annual membership fees and heavy court usage. However,cash receipts are not as large in autumn and drop significantly inthe winter months. For the start of the new financial year on 1October, HLW is considering introducing a new membership and feestructure in an attempt to improve its cash flow planning. Underthe new membership plan, only an annual membership fee would becharged, rather than a membership fee plus hourly court fees. Therewould be two classes of membership, with annual fees as follows:Individual $300, Family 500. The annual fee would be collected inadvance at the time the membership application was completed.Members would be allowed to use the tennis courts as often as theywished during the year under the new plan. All future membershipswould be sold under these new terms. A special promotional campaignwould be instituted to attract new members and to encourage currentmembers to remain with the club. The annual fees for individual andfamily memberships would be reduced to $250 and $450 respectivelyif members pay for their yearly memberships in advance during thetwo-month promotional campaign. Hawthorn Leisure Works' managementestimates that 70 per cent of the current members will continuewith the club, and student members would convert to individualmembership. The most active members (45 per cent of the currentmembers) would pay the yearly fee in advance and receive thespecial fee reduction, while the remaining members who continuedwould renew memberships in October. Those members who would notrejoin are not considered active (that is, they play five times orless during the year). Management estimates that the loss ofmembers would be offset fully by new members within six months ofinstituting the new plan. These new 5 members would pay aproportional amount of the yearly fee on joining. Furthermore, manyof the newmembers would be individuals who would play duringnon-prime time. Management estimates that adequate court time willbe available for all members under the new plan. If the newmembership plan is adopted, it would be instituted at the start ofthe new financial year (1 October), which is the start of thetennis season. The special promotional campaign would be conductedduring August and September, prior to the start of the newfinancial year. Required: Your consulting firm has been hired tohelp HLW to evaluate its new fee structure. Write a letter to theclub's managing director dealing with the following issues: 1 WillHLW's new membership plan and fee structure improve its ability toplan its cash receipts? Explain your answer. 2 Estimate the effecton sales revenue resulting from the planned change in fee structurefor the next financial year, which starts 1 October and ends on 30September. State any assumptions that you need to make. 3 HawthornLeisure Works should evaluate the new membership plan and feestructure completely before it decides to adopt or reject it. (a)Identify the key factors that HLW should consider in itsevaluation. (b) Explain what type of financial analyses HLW shouldprepare in order to make a complete evaluation. 4 Explain how HLW'scash management practices may differ from the present if the newmembership plan and fee structure are adopted.

ambermule94

In the context of a company's ethics policy, which of the following actions should an organization avoid taking?

Multiple Choice

Awarding prizes for ethical behavior

Declaring an Ethics Day and allowing every department to share its success stories

Communicating only to internal stakeholders

Recognizing employees who represent the standards of behavior to which the company is committed

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Which of the following requirements is included in the status of organizational probation under the Federal Sentencing Guidelines for Organizations (FSGO)?

Multiple Choice

Reporting a business's financial condition to the court on a periodic basis

Reporting confidential details of all employees to the court on a periodic basis

Reporting progress to the FSGO in expediting or securing the performance of routine governmental favors

Reporting progress to the FSGO in making monetary contributions to the U.S. political parties

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Which of the following statements is true of the UN Global Compact?

Multiple Choice

It encourages actions that cause the greatest good for the greatest number of people.

It ignores the exploitation of less-developed countries by multinational corporations.

It comprises laws that are legally enforced by the United Nations.

It serves as a guideline for transparency and public accountability.

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Downerz Enterprises (DE) has been in the news for fraud by one of its directors. As a result, the trustees of DE have appointed a new director who has established a strict code of ethics. He has announced extensive training for every member of the organization. An ethics officer has also been hired by DE. Which of the following steps is most likely to be taken next by the new director to maintain ethical behavior in the organization?

Multiple Choice

Publish the code of conduct and send it to all its stakeholders.

Promote DE's commitment to ethical behavior.

Celebrate and reward the ethical behavior demonstrated by its employees.

Support the code of ethics with extensive training for the senior managers of the organization.

aquamarinebutterfly341

Individual.............................................................................................$ 40Student................................................................................................25Family..................................................................................................95 Cases City Racquetball Club (CRC) offers racquetball and otherphysical fitness facilities to its members. There are four of theseclubs in the metropolitan area. Each club has between 1,800 and2,500 members. Revenue is derived from annual membership fees andhourly court fees. The annual membership fees are as follows: â Case 9â45 Using Budgets to Evaluate Business Decisions (LO 9-2,9-3, 9-7) The hourly court fees vary from $6 to $10 depending uponthe season and the time of day (prime versus nonprime time). Thepeak racquetball season is considered to run from September throughApril. During this period, court usage averages 90 to 100 percentof capacity during prime time (5:00â9:00 p.m.) and 50 to 60 percentof capacity during the remaining hours. Daily court usage duringthe off-season (i.e., summer) averages only 20 to 40 percent ofcapacity. 20x1 January February March 1st Quarter Cash receipts(from schedule 2)............................................................. Less:Cash disbursements (from schedule 4)......................................... Change in cash balanceduring period due to operations..................... Sale ofmarketable securities (1/2/x1).................................................... Proceeds frombank loan (1/2/x1).......................................................... Purchaseof equipment...........................................................................Repayment of bank loan (3/31/x1)......................................................... Intereston bank loan..............................................................................Payment of dividends..............................................................................Change in cash balance during first quarter.......................................... Cash balance, 1/1/x1..............................................................................Cash balance, 3/31/x1............................................................................412 Chapter 9 Financial Planning and Analysis: The Master BudgetMost of CRCâs memberships have September expirations. A substantialamount of the cash receipts are collected during the early part ofthe racquetball season due to the renewal of the annual membershipfees and heavy court usage. However, cash receipts are not as largein the spring and drop significantly in the summer months. CRC isconsidering changing its membership and fee structure in an attemptto change its cash receipts. Under the new membership plan, only anannual membership fee would be charged, rather than a membershipfee plus hourly court fees. There would be two classes ofmembership as follows: Individual.............................................................................................................$250 Family..................................................................................................................400 The annual fee would be collected in advance at the time themembership application is completed. Members would be allowed touse the racquetball courts as often as they wish during the yearunder the new plan. All future memberships would be sold underthese new terms. Current memberships would be honored on the oldbasis until they expire. However, a special promotional campaignwould be instituted to attract new members and to encourage currentmembers to convert to the new membership plan immediately. Theannual fees for individual and family memberships would be reducedto $200 and $300, respectively, during the two-month promotionalcampaign. In addition, all memberships sold or renewed during thisperiod would be for 15 months rather than the normal one-yearperiod. Current members also would be given a credit toward theannual fee for the unexpired portion of their membership fee, andfor all prepaid hourly court fees for league play that have not yetbeen used. CRCâs management estimates that 60 to 70 percent of thepresent membership would continue with the club. The most activemembers (45 percent of the present membership) would convertimmediately to the new plan, while the remaining members whocontinue would wait until their current memberships expire. Thosemembers who would not continue are not considered active (i.e.,they play five or less times during the year). Management estimatesthat the loss of members would be offset fully by new memberswithin six months of instituting the new plan. Furthermore, many ofthe new members would be individuals who would play during nonprimetime. Management estimates that adequate court time will beavailable for all members under the new plan. If the new membershipplan is adopted, it would be instituted on February 1, well beforethe summer season. The special promotional campaign would beconducted during March and April. Once the plan is implemented,annual renewal of memberships and payment of fees would take placeas each individual or family membership expires. Required: Yourconsulting firm has been hired to help CRC evaluate its new feestructure. Write a letter to the clubâs president answering thefollowing questions. 1. Will City Racquetball Clubâs new membershipplan and fee structure improve its ability to plan its cashreceipts? Explain your answer. 2. City Racquetball Club shouldevaluate the new membership plan and fee structure completelybefore it decides to adopt or reject it. a. Identify the keyfactors that CRC should consider in its evaluation. b. Explain whattype of financial analyses CRC should prepare in order to make acomplete evaluation. 3. Explain how City Racquetball Clubâs cashmanage

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RLGA02H3 Study Guide - Qibla, Dhikr, Ummah

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