Datasets:

amphora
/

finqa_suite

@@ -1,84 +1,6 @@
-Q,C,CoT,A
-what is the growth rate in operating profit for space systems in 2011?,"2011 compared to 2010 mst 2019s net sales for 2011 decreased $ 311 million , or 4% ( 4 % ) , compared to 2010 . the decrease was attributable to decreased volume of approximately $ 390 million for certain ship and aviation system programs ( primarily maritime patrol aircraft and ptds ) and approximately $ 75 million for training and logistics solutions programs . partially offsetting these decreases was higher sales of about $ 165 million from production on the lcs program . mst 2019s operating profit for 2011 decreased $ 68 million , or 10% ( 10 % ) , compared to 2010 . the decrease was attributable to decreased operating profit of approximately $ 55 million as a result of increased reserves for contract cost matters on various ship and aviation system programs ( including the terminated presidential helicopter program ) and approximately $ 40 million due to lower volume and increased reserves on training and logistics solutions . partially offsetting these decreases was higher operating profit of approximately $ 30 million in 2011 primarily due to the recognition of reserves on certain undersea systems programs in 2010 . adjustments not related to volume , including net profit rate adjustments described above , were approximately $ 55 million lower in 2011 compared to 2010 . backlog backlog increased in 2012 compared to 2011 mainly due to increased orders on ship and aviation system programs ( primarily mh-60 and lcs ) , partially offset decreased orders and higher sales volume on integrated warfare systems and sensors programs ( primarily aegis ) . backlog decreased slightly in 2011 compared to 2010 primarily due to higher sales volume on various integrated warfare systems and sensors programs . trends we expect mst 2019s net sales to decline in 2013 in the low single digit percentage range as compared to 2012 due to the completion of ptds deliveries in 2012 and expected lower volume on training services programs . operating profit and margin are expected to increase slightly from 2012 levels primarily due to anticipated improved contract performance . space systems our space systems business segment is engaged in the research and development , design , engineering , and production of satellites , strategic and defensive missile systems , and space transportation systems . space systems is also responsible for various classified systems and services in support of vital national security systems . space systems 2019 major programs include the space-based infrared system ( sbirs ) , advanced extremely high frequency ( aehf ) system , mobile user objective system ( muos ) , global positioning satellite ( gps ) iii system , geostationary operational environmental satellite r-series ( goes-r ) , trident ii d5 fleet ballistic missile , and orion . operating results for our space systems business segment include our equity interests in united launch alliance ( ula ) , which provides expendable launch services for the u.s . government , united space alliance ( usa ) , which provided processing activities for the space shuttle program and is winding down following the completion of the last space shuttle mission in 2011 , and a joint venture that manages the u.k . 2019s atomic weapons establishment program . space systems 2019 operating results included the following ( in millions ) : .\n||2012|2011|2010|\n|net sales|$ 8347|$ 8161|$ 8268|\n|operating profit|1083|1063|1030|\n|operating margins|13.0% ( 13.0 % )|13.0% ( 13.0 % )|12.5% ( 12.5 % )|\n|backlog at year-end|18100|16000|17800|\n2012 compared to 2011 space systems 2019 net sales for 2012 increased $ 186 million , or 2% ( 2 % ) , compared to 2011 . the increase was attributable to higher net sales of approximately $ 150 million due to increased commercial satellite deliveries ( two commercial satellites delivered in 2012 compared to one during 2011 ) ; about $ 125 million from the orion program due to higher volume and an increase in risk retirements ; and approximately $ 70 million from increased volume on various strategic and defensive missile programs . partially offsetting the increases were lower net sales of approximately $ 105 million from certain government satellite programs ( primarily sbirs and muos ) as a result of decreased volume and a decline in risk retirements ; and about $ 55 million from the nasa external tank program , which ended in connection with the completion of the space shuttle program in 2011.","To calculate the growth rate in operating profit for the Space Systems segment in 2011, we will use the formula:
-\[ \text{Growth Rate} = \left( \frac{\text{Operating Profit in 2011} - \text{Operating Profit in 2010}}{\text{Operating Profit in 2010}} \right) \times 100\% \]
-From the data provided:
-- Operating Profit for 2011 = $1063 million
-- Operating Profit for 2010 = $1030 million
-Let's compute the growth rate.
-The growth rate in operating profit for the Space Systems segment in 2011, compared to 2010, was approximately 3.20%. The answer is 0.03204.",0.03204
-"what is the growth rate in the price of shares from the highest value during the quarter ended december 31 , 2008 and the closing price on february 13 , 2009?","part ii item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the following table presents reported quarterly high and low per share sale prices of our common stock on the new york stock exchange ( 201cnyse 201d ) for the years 2008 and 2007. .\n|2008|high|low|\n|quarter ended march 31|$ 42.72|$ 32.10|\n|quarter ended june 30|46.10|38.53|\n|quarter ended september 30|43.43|31.89|\n|quarter ended december 31|37.28|19.35|\n|2007|high|low|\n|quarter ended march 31|$ 41.31|$ 36.63|\n|quarter ended june 30|43.84|37.64|\n|quarter ended september 30|45.45|36.34|\n|quarter ended december 31|46.53|40.08|\non february 13 , 2009 , the closing price of our common stock was $ 28.85 per share as reported on the nyse . as of february 13 , 2009 , we had 397097677 outstanding shares of common stock and 499 registered holders . dividends we have never paid a dividend on our common stock . we anticipate that we may retain future earnings , if any , to fund the development and growth of our business . the indentures governing our 7.50% ( 7.50 % ) senior notes due 2012 ( 201c7.50% ( 201c7.50 % ) notes 201d ) and our 7.125% ( 7.125 % ) senior notes due 2012 ( 201c7.125% ( 201c7.125 % ) notes 201d ) may prohibit us from paying dividends to our stockholders unless we satisfy certain financial covenants . the loan agreement for our revolving credit facility and term loan , and the indentures governing the terms of our 7.50% ( 7.50 % ) notes and 7.125% ( 7.125 % ) notes contain covenants that restrict our ability to pay dividends unless certain financial covenants are satisfied . in addition , while spectrasite and its subsidiaries are classified as unrestricted subsidiaries under the indentures for our 7.50% ( 7.50 % ) notes and 7.125% ( 7.125 % ) notes , certain of spectrasite 2019s subsidiaries are subject to restrictions on the amount of cash that they can distribute to us under the loan agreement related to our securitization transaction . for more information about the restrictions under the loan agreement for the revolving credit facility and term loan , our notes indentures and the loan agreement related to our securitization transaction , see item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources 2014factors affecting sources of liquidity 201d and note 6 to our consolidated financial statements included in this annual report.","To calculate the growth rate in the price of shares between the highest value during the quarter ended December 31, 2008, and the closing price on February 13, 2009, we use the formula:
-\[ \text{Growth Rate} = \left( \frac{\text{Closing Price on February 13, 2009} - \text{Highest Price in Quarter Ending December 31, 2008}}{\text{Highest Price in Quarter Ending December 31, 2008}} \right) \times 100\% \]
-From the data provided:
-- Highest Price in Quarter Ending December 31, 2008 = $37.28
-- Closing Price on February 13, 2009 = $28.85
-Now, let's calculate the growth rate.
-# Highest price in quarter ending December 31, 2008 and closing price on February 13, 2009
-highest_price_dec_2008 = 37.28  # in dollars
-closing_price_feb_13_2009 = 28.85  # in dollars
-# Calculating the growth rate
-growth_rate_shares = ((closing_price_feb_13_2009 - highest_price_dec_2008) / highest_price_dec_2008)
-growth_rate_shares # 0.29220103986
-The growth rate in the price of shares from the highest value during the quarter ended December 31, 2008, to the closing price on February 13, 2009, was approximately 0.2922. This indicates a decrease in the share price over the specified period. The answer is  0.2922.",0.2922
-"for q4 2007 , what was the total amount spent on share repurchases?","page 19 of 94 responded to the request for information pursuant to section 104 ( e ) of cercla . the usepa has initially estimated cleanup costs to be between $ 4 million and $ 5 million . based on the information available to the company at the present time , the company does not believe that this matter will have a material adverse effect upon the liquidity , results of operations or financial condition of the company . europe in january 2003 the german government passed legislation that imposed a mandatory deposit of 25 eurocents on all one-way packages containing beverages except milk , wine , fruit juices and certain alcoholic beverages . ball packaging europe gmbh ( bpe ) , together with certain other plaintiffs , contested the enactment of the mandatory deposit for non-returnable containers based on the german packaging regulation ( verpackungsverordnung ) in federal and state administrative court . all other proceedings have been terminated except for the determination of minimal court fees that are still outstanding in some cases , together with minimal ancillary legal fees . the relevant industries , including bpe and its competitors , have successfully set up a germany-wide return system for one-way beverage containers , which has been operational since may 1 , 2006 , the date required under the deposit legislation . item 4 . submission of matters to a vote of security holders there were no matters submitted to the security holders during the fourth quarter of 2007 . part ii item 5 . market for the registrant 2019s common stock and related stockholder matters ball corporation common stock ( bll ) is traded on the new york stock exchange and the chicago stock exchange . there were 5424 common shareholders of record on february 3 , 2008 . common stock repurchases the following table summarizes the company 2019s repurchases of its common stock during the quarter ended december 31 , 2007 . purchases of securities total number of shares purchased ( a ) average price paid per share total number of shares purchased as part of publicly announced plans or programs maximum number of shares that may yet be purchased under the plans or programs ( b ) .\n||total number of shares purchased ( a )|average pricepaid per share|total number of shares purchased as part of publicly announced plans or programs|maximum number of shares that may yet be purchased under the plans or programs ( b )|\n|october 1 to october 28 2007|705292|$ 53.53|705292|4904824|\n|october 29 to november 25 2007|431170|$ 48.11|431170|4473654|\n|november 26 to december 31 2007|8310 ( c )|$ 44.99|8310|4465344|\n|total|1144772|$ 51.42|1144772||\n( a ) includes open market purchases and/or shares retained by the company to settle employee withholding tax liabilities . ( b ) the company has an ongoing repurchase program for which shares are authorized for repurchase from time to time by ball 2019s board of directors . on january 23 , 2008 , ball's board of directors authorized the repurchase by the company of up to a total of 12 million shares of its common stock . this repurchase authorization replaces all previous authorizations . ( c ) does not include 675000 shares under a forward share repurchase agreement entered into in december 2007 and settled on january 7 , 2008 , for approximately $ 31 million . also does not include shares to be acquired in 2008 under an accelerated share repurchase program entered into in december 2007 and funded on january 7 , 2008.","To calculate the total amount spent on share repurchases for Q4 2007, we need to multiply the number of shares purchased in each time period by the average price paid per share, and then sum these amounts.
-From the data provided, the share repurchases in Q4 2007 were as follows:
-1. October 1 to October 28, 2007:
-   - Number of shares purchased: 705,292
-   - Average price paid per share: $53.53
-2. October 29 to November 25, 2007:
-   - Number of shares purchased: 431,170
-   - Average price paid per share: $48.11
-3. November 26 to December 31, 2007:
-   - Number of shares purchased: 8,310
-   - Average price paid per share: $44.99
-Let's calculate the total amount spent for each period and then sum these to find the total amount spent on share repurchases in Q4 2007.
-The total amount spent on share repurchases for Q4 2007 was approximately $58864176. The answer is 58864176.",58864176
-what is the percentage change in fair value of forward exchange contracts asset from 2010 to 2011?,"we hold an interest rate swap agreement to hedge the benchmark interest rate of our $ 375 million 5.0% ( 5.0 % ) senior unsecured notes due july 1 , 2014 . the effect of the swap is to convert our 5.0% ( 5.0 % ) fixed interest rate to a variable interest rate based on the three-month libor plus 2.05% ( 2.05 % ) ( 2.42% ( 2.42 % ) as of october 29 , 2011 ) . in addition , we have a term loan facility of $ 145 million that bears interest at a fluctuating rate for each period equal to the libor rate corresponding with the tenor of the interest period plus a spread of 1.25% ( 1.25 % ) ( 1.61% ( 1.61 % ) as of october 29 , 2011 ) . if libor increases by 100 basis points , our annual interest expense would increase by approximately $ 5 million . however , this hypothetical change in interest rates would not impact the interest expense on our $ 375 million of 3% ( 3 % ) fixed-rate debt , which is not hedged . as of october 30 , 2010 , a similar 100 basis point increase in libor would have resulted in an increase of approximately $ 4 million to our annual interest expense . foreign currency exposure as more fully described in note 2i in the notes to consolidated financial statements contained in item 8 of this annual report on form 10-k , we regularly hedge our non-u.s . dollar-based exposures by entering into forward foreign currency exchange contracts . the terms of these contracts are for periods matching the duration of the underlying exposure and generally range from one month to twelve months . currently , our largest foreign currency exposure is the euro , primarily because our european operations have the highest proportion of our local currency denominated expenses . relative to foreign currency exposures existing at october 29 , 2011 and october 30 , 2010 , a 10% ( 10 % ) unfavorable movement in foreign currency exchange rates over the course of the year would expose us to approximately $ 6 million in losses in earnings or cash flows . the market risk associated with our derivative instruments results from currency exchange rates that are expected to offset the market risk of the underlying transactions , assets and liabilities being hedged . the counterparties to the agreements relating to our foreign exchange instruments consist of a number of major international financial institutions with high credit ratings . based on the credit ratings of our counterparties as of october 29 , 2011 , we do not believe that there is significant risk of nonperformance by them . while the contract or notional amounts of derivative financial instruments provide one measure of the volume of these transactions , they do not represent the amount of our exposure to credit risk . the amounts potentially subject to credit risk ( arising from the possible inability of counterparties to meet the terms of their contracts ) are generally limited to the amounts , if any , by which the counterparties 2019 obligations under the contracts exceed our obligations to the counterparties . the following table illustrates the effect that a 10% ( 10 % ) unfavorable or favorable movement in foreign currency exchange rates , relative to the u.s . dollar , would have on the fair value of our forward exchange contracts as of october 29 , 2011 and october 30 , 2010: .\n||october 29 2011|october 30 2010|\n|fair value of forward exchange contracts asset|$ 2472|$ 7256|\n|fair value of forward exchange contracts after a 10% ( 10 % ) unfavorable movement in foreign currency exchange rates asset|$ 17859|$ 22062|\n|fair value of forward exchange contracts after a 10% ( 10 % ) favorable movement in foreign currency exchange rates liability|$ -13332 ( 13332 )|$ -7396 ( 7396 )|\nfair value of forward exchange contracts after a 10% ( 10 % ) unfavorable movement in foreign currency exchange rates asset . . . . . . . . . . . . . . . . . $ 17859 $ 22062 fair value of forward exchange contracts after a 10% ( 10 % ) favorable movement in foreign currency exchange rates liability . . . . . . . . . . . . . . . . . . . . . . . $ ( 13332 ) $ ( 7396 ) the calculation assumes that each exchange rate would change in the same direction relative to the u.s . dollar . in addition to the direct effects of changes in exchange rates , such changes typically affect the volume of sales or the foreign currency sales price as competitors 2019 products become more or less attractive . our sensitivity analysis of the effects of changes in foreign currency exchange rates does not factor in a potential change in sales levels or local currency selling prices.","To calculate the percentage change in the fair value of forward exchange contracts asset from 2010 to 2011, we use the following formula:
-\[ \text{Percentage Change} = \left( \frac{\text{Fair Value in 2011} - \text{Fair Value in 2010}}{\text{Fair Value in 2010}} \right) \times 100\% \]
-From the data provided:
-- Fair Value of Forward Exchange Contracts Asset on October 29, 2011 = $2,472
-- Fair Value of Forward Exchange Contracts Asset on October 30, 2010 = $7,256
-Let's plug these values into the formula:
-\[ \text{Percentage Change} = \left( \frac{2472 - 7256}{7256} \right) \times 100\% \]
-Calculating this:
-\[ \text{Percentage Change} = \left( \frac{-4784}{7256} \right)  \]
-\[ \text{Percentage Change} \approx -0.6593 \]
-So, the fair value of forward exchange contracts asset decreased by approximately -0.6593 from 2010 to 2011. The answer is -0.6593.",-0.6593
-"including the shares repurchased under the december 2007 repo agreement , what was the total authorized shares ( in millions ) eligible for repurchase under the january 23 , 2008 repurchase authorization?","page 19 of 94 responded to the request for information pursuant to section 104 ( e ) of cercla . the usepa has initially estimated cleanup costs to be between $ 4 million and $ 5 million . based on the information available to the company at the present time , the company does not believe that this matter will have a material adverse effect upon the liquidity , results of operations or financial condition of the company . europe in january 2003 the german government passed legislation that imposed a mandatory deposit of 25 eurocents on all one-way packages containing beverages except milk , wine , fruit juices and certain alcoholic beverages . ball packaging europe gmbh ( bpe ) , together with certain other plaintiffs , contested the enactment of the mandatory deposit for non-returnable containers based on the german packaging regulation ( verpackungsverordnung ) in federal and state administrative court . all other proceedings have been terminated except for the determination of minimal court fees that are still outstanding in some cases , together with minimal ancillary legal fees . the relevant industries , including bpe and its competitors , have successfully set up a germany-wide return system for one-way beverage containers , which has been operational since may 1 , 2006 , the date required under the deposit legislation . item 4 . submission of matters to a vote of security holders there were no matters submitted to the security holders during the fourth quarter of 2007 . part ii item 5 . market for the registrant 2019s common stock and related stockholder matters ball corporation common stock ( bll ) is traded on the new york stock exchange and the chicago stock exchange . there were 5424 common shareholders of record on february 3 , 2008 . common stock repurchases the following table summarizes the company 2019s repurchases of its common stock during the quarter ended december 31 , 2007 . purchases of securities total number of shares purchased ( a ) average price paid per share total number of shares purchased as part of publicly announced plans or programs maximum number of shares that may yet be purchased under the plans or programs ( b ) .\n||total number of shares purchased ( a )|average pricepaid per share|total number of shares purchased as part of publicly announced plans or programs|maximum number of shares that may yet be purchased under the plans or programs ( b )|\n|october 1 to october 28 2007|705292|$ 53.53|705292|4904824|\n|october 29 to november 25 2007|431170|$ 48.11|431170|4473654|\n|november 26 to december 31 2007|8310 ( c )|$ 44.99|8310|4465344|\n|total|1144772|$ 51.42|1144772||\n( a ) includes open market purchases and/or shares retained by the company to settle employee withholding tax liabilities . ( b ) the company has an ongoing repurchase program for which shares are authorized for repurchase from time to time by ball 2019s board of directors . on january 23 , 2008 , ball's board of directors authorized the repurchase by the company of up to a total of 12 million shares of its common stock . this repurchase authorization replaces all previous authorizations . ( c ) does not include 675000 shares under a forward share repurchase agreement entered into in december 2007 and settled on january 7 , 2008 , for approximately $ 31 million . also does not include shares to be acquired in 2008 under an accelerated share repurchase program entered into in december 2007 and funded on january 7 , 2008.","To determine the total authorized shares eligible for repurchase under the January 23, 2008, repurchase authorization, we need to consider both the shares authorized in this specific authorization and the shares repurchased under the December 2007 agreement that might have impacted this authorization.
-From the information provided:
-- On January 23, 2008, Ball's board of directors authorized the repurchase of up to a total of 12 million shares of its common stock.
-- The repurchase agreement entered into in December 2007 (and settled on January 7, 2008) involved 675,000 shares.
-The key here is to understand whether the 675,000 shares repurchased under the December 2007 agreement are included in or separate from the 12 million shares authorized on January 23, 2008. If they are separate, we should add them to the 12 million shares. If they are part of the 12 million shares, then the total authorized remains at 12 million.
-Based on the information provided, it's not explicitly clear whether the 675,000 shares are included in the 12 million authorization or not. However, since the December 2007 agreement was settled before the January 23, 2008, authorization, it's likely that these shares are separate and should be added to the 12 million shares authorized.
-Therefore, the total authorized shares (in millions) eligible for repurchase, including the December 2007 agreement, would be calculated as follows:
-\[ \text{Total Authorized Shares} = \text{January 2008 Authorization} + \text{December 2007 Repurchase} \]
-\[ \text{Total Authorized Shares} = 12 \text{ million} + 0.675 \text{ million} \]
-\[ \text{Total Authorized Shares} = 12.675 \text{ million} \]
-So, including the shares repurchased under the December 2007 agreement, the total authorized shares eligible for repurchase under the January 23, 2008, authorization would be 12.675 million. The answer is 12.675.",12.675

+Q,C,A
+what is the growth rate in operating profit for space systems in 2011?,"2011 compared to 2010 mst 2019s net sales for 2011 decreased $ 311 million , or 4% ( 4 % ) , compared to 2010 . the decrease was attributable to decreased volume of approximately $ 390 million for certain ship and aviation system programs ( primarily maritime patrol aircraft and ptds ) and approximately $ 75 million for training and logistics solutions programs . partially offsetting these decreases was higher sales of about $ 165 million from production on the lcs program . mst 2019s operating profit for 2011 decreased $ 68 million , or 10% ( 10 % ) , compared to 2010 . the decrease was attributable to decreased operating profit of approximately $ 55 million as a result of increased reserves for contract cost matters on various ship and aviation system programs ( including the terminated presidential helicopter program ) and approximately $ 40 million due to lower volume and increased reserves on training and logistics solutions . partially offsetting these decreases was higher operating profit of approximately $ 30 million in 2011 primarily due to the recognition of reserves on certain undersea systems programs in 2010 . adjustments not related to volume , including net profit rate adjustments described above , were approximately $ 55 million lower in 2011 compared to 2010 . backlog backlog increased in 2012 compared to 2011 mainly due to increased orders on ship and aviation system programs ( primarily mh-60 and lcs ) , partially offset decreased orders and higher sales volume on integrated warfare systems and sensors programs ( primarily aegis ) . backlog decreased slightly in 2011 compared to 2010 primarily due to higher sales volume on various integrated warfare systems and sensors programs . trends we expect mst 2019s net sales to decline in 2013 in the low single digit percentage range as compared to 2012 due to the completion of ptds deliveries in 2012 and expected lower volume on training services programs . operating profit and margin are expected to increase slightly from 2012 levels primarily due to anticipated improved contract performance . space systems our space systems business segment is engaged in the research and development , design , engineering , and production of satellites , strategic and defensive missile systems , and space transportation systems . space systems is also responsible for various classified systems and services in support of vital national security systems . space systems 2019 major programs include the space-based infrared system ( sbirs ) , advanced extremely high frequency ( aehf ) system , mobile user objective system ( muos ) , global positioning satellite ( gps ) iii system , geostationary operational environmental satellite r-series ( goes-r ) , trident ii d5 fleet ballistic missile , and orion . operating results for our space systems business segment include our equity interests in united launch alliance ( ula ) , which provides expendable launch services for the u.s . government , united space alliance ( usa ) , which provided processing activities for the space shuttle program and is winding down following the completion of the last space shuttle mission in 2011 , and a joint venture that manages the u.k . 2019s atomic weapons establishment program . space systems 2019 operating results included the following ( in millions ) : .\n||2012|2011|2010|\n|net sales|$ 8347|$ 8161|$ 8268|\n|operating profit|1083|1063|1030|\n|operating margins|13.0% ( 13.0 % )|13.0% ( 13.0 % )|12.5% ( 12.5 % )|\n|backlog at year-end|18100|16000|17800|\n2012 compared to 2011 space systems 2019 net sales for 2012 increased $ 186 million , or 2% ( 2 % ) , compared to 2011 . the increase was attributable to higher net sales of approximately $ 150 million due to increased commercial satellite deliveries ( two commercial satellites delivered in 2012 compared to one during 2011 ) ; about $ 125 million from the orion program due to higher volume and an increase in risk retirements ; and approximately $ 70 million from increased volume on various strategic and defensive missile programs . partially offsetting the increases were lower net sales of approximately $ 105 million from certain government satellite programs ( primarily sbirs and muos ) as a result of decreased volume and a decline in risk retirements ; and about $ 55 million from the nasa external tank program , which ended in connection with the completion of the space shuttle program in 2011.",0.03204
+"what is the growth rate in the price of shares from the highest value during the quarter ended december 31 , 2008 and the closing price on february 13 , 2009?","part ii item 5 . market for registrant 2019s common equity , related stockholder matters and issuer purchases of equity securities the following table presents reported quarterly high and low per share sale prices of our common stock on the new york stock exchange ( 201cnyse 201d ) for the years 2008 and 2007. .\n|2008|high|low|\n|quarter ended march 31|$ 42.72|$ 32.10|\n|quarter ended june 30|46.10|38.53|\n|quarter ended september 30|43.43|31.89|\n|quarter ended december 31|37.28|19.35|\n|2007|high|low|\n|quarter ended march 31|$ 41.31|$ 36.63|\n|quarter ended june 30|43.84|37.64|\n|quarter ended september 30|45.45|36.34|\n|quarter ended december 31|46.53|40.08|\non february 13 , 2009 , the closing price of our common stock was $ 28.85 per share as reported on the nyse . as of february 13 , 2009 , we had 397097677 outstanding shares of common stock and 499 registered holders . dividends we have never paid a dividend on our common stock . we anticipate that we may retain future earnings , if any , to fund the development and growth of our business . the indentures governing our 7.50% ( 7.50 % ) senior notes due 2012 ( 201c7.50% ( 201c7.50 % ) notes 201d ) and our 7.125% ( 7.125 % ) senior notes due 2012 ( 201c7.125% ( 201c7.125 % ) notes 201d ) may prohibit us from paying dividends to our stockholders unless we satisfy certain financial covenants . the loan agreement for our revolving credit facility and term loan , and the indentures governing the terms of our 7.50% ( 7.50 % ) notes and 7.125% ( 7.125 % ) notes contain covenants that restrict our ability to pay dividends unless certain financial covenants are satisfied . in addition , while spectrasite and its subsidiaries are classified as unrestricted subsidiaries under the indentures for our 7.50% ( 7.50 % ) notes and 7.125% ( 7.125 % ) notes , certain of spectrasite 2019s subsidiaries are subject to restrictions on the amount of cash that they can distribute to us under the loan agreement related to our securitization transaction . for more information about the restrictions under the loan agreement for the revolving credit facility and term loan , our notes indentures and the loan agreement related to our securitization transaction , see item 7 of this annual report under the caption 201cmanagement 2019s discussion and analysis of financial condition and results of operations 2014liquidity and capital resources 2014factors affecting sources of liquidity 201d and note 6 to our consolidated financial statements included in this annual report.",0.2922
+"for q4 2007 , what was the total amount spent on share repurchases?","page 19 of 94 responded to the request for information pursuant to section 104 ( e ) of cercla . the usepa has initially estimated cleanup costs to be between $ 4 million and $ 5 million . based on the information available to the company at the present time , the company does not believe that this matter will have a material adverse effect upon the liquidity , results of operations or financial condition of the company . europe in january 2003 the german government passed legislation that imposed a mandatory deposit of 25 eurocents on all one-way packages containing beverages except milk , wine , fruit juices and certain alcoholic beverages . ball packaging europe gmbh ( bpe ) , together with certain other plaintiffs , contested the enactment of the mandatory deposit for non-returnable containers based on the german packaging regulation ( verpackungsverordnung ) in federal and state administrative court . all other proceedings have been terminated except for the determination of minimal court fees that are still outstanding in some cases , together with minimal ancillary legal fees . the relevant industries , including bpe and its competitors , have successfully set up a germany-wide return system for one-way beverage containers , which has been operational since may 1 , 2006 , the date required under the deposit legislation . item 4 . submission of matters to a vote of security holders there were no matters submitted to the security holders during the fourth quarter of 2007 . part ii item 5 . market for the registrant 2019s common stock and related stockholder matters ball corporation common stock ( bll ) is traded on the new york stock exchange and the chicago stock exchange . there were 5424 common shareholders of record on february 3 , 2008 . common stock repurchases the following table summarizes the company 2019s repurchases of its common stock during the quarter ended december 31 , 2007 . purchases of securities total number of shares purchased ( a ) average price paid per share total number of shares purchased as part of publicly announced plans or programs maximum number of shares that may yet be purchased under the plans or programs ( b ) .\n||total number of shares purchased ( a )|average pricepaid per share|total number of shares purchased as part of publicly announced plans or programs|maximum number of shares that may yet be purchased under the plans or programs ( b )|\n|october 1 to october 28 2007|705292|$ 53.53|705292|4904824|\n|october 29 to november 25 2007|431170|$ 48.11|431170|4473654|\n|november 26 to december 31 2007|8310 ( c )|$ 44.99|8310|4465344|\n|total|1144772|$ 51.42|1144772||\n( a ) includes open market purchases and/or shares retained by the company to settle employee withholding tax liabilities . ( b ) the company has an ongoing repurchase program for which shares are authorized for repurchase from time to time by ball 2019s board of directors . on january 23 , 2008 , ball's board of directors authorized the repurchase by the company of up to a total of 12 million shares of its common stock . this repurchase authorization replaces all previous authorizations . ( c ) does not include 675000 shares under a forward share repurchase agreement entered into in december 2007 and settled on january 7 , 2008 , for approximately $ 31 million . also does not include shares to be acquired in 2008 under an accelerated share repurchase program entered into in december 2007 and funded on january 7 , 2008.",58864176.0
+what is the percentage change in fair value of forward exchange contracts asset from 2010 to 2011?,"we hold an interest rate swap agreement to hedge the benchmark interest rate of our $ 375 million 5.0% ( 5.0 % ) senior unsecured notes due july 1 , 2014 . the effect of the swap is to convert our 5.0% ( 5.0 % ) fixed interest rate to a variable interest rate based on the three-month libor plus 2.05% ( 2.05 % ) ( 2.42% ( 2.42 % ) as of october 29 , 2011 ) . in addition , we have a term loan facility of $ 145 million that bears interest at a fluctuating rate for each period equal to the libor rate corresponding with the tenor of the interest period plus a spread of 1.25% ( 1.25 % ) ( 1.61% ( 1.61 % ) as of october 29 , 2011 ) . if libor increases by 100 basis points , our annual interest expense would increase by approximately $ 5 million . however , this hypothetical change in interest rates would not impact the interest expense on our $ 375 million of 3% ( 3 % ) fixed-rate debt , which is not hedged . as of october 30 , 2010 , a similar 100 basis point increase in libor would have resulted in an increase of approximately $ 4 million to our annual interest expense . foreign currency exposure as more fully described in note 2i in the notes to consolidated financial statements contained in item 8 of this annual report on form 10-k , we regularly hedge our non-u.s . dollar-based exposures by entering into forward foreign currency exchange contracts . the terms of these contracts are for periods matching the duration of the underlying exposure and generally range from one month to twelve months . currently , our largest foreign currency exposure is the euro , primarily because our european operations have the highest proportion of our local currency denominated expenses . relative to foreign currency exposures existing at october 29 , 2011 and october 30 , 2010 , a 10% ( 10 % ) unfavorable movement in foreign currency exchange rates over the course of the year would expose us to approximately $ 6 million in losses in earnings or cash flows . the market risk associated with our derivative instruments results from currency exchange rates that are expected to offset the market risk of the underlying transactions , assets and liabilities being hedged . the counterparties to the agreements relating to our foreign exchange instruments consist of a number of major international financial institutions with high credit ratings . based on the credit ratings of our counterparties as of october 29 , 2011 , we do not believe that there is significant risk of nonperformance by them . while the contract or notional amounts of derivative financial instruments provide one measure of the volume of these transactions , they do not represent the amount of our exposure to credit risk . the amounts potentially subject to credit risk ( arising from the possible inability of counterparties to meet the terms of their contracts ) are generally limited to the amounts , if any , by which the counterparties 2019 obligations under the contracts exceed our obligations to the counterparties . the following table illustrates the effect that a 10% ( 10 % ) unfavorable or favorable movement in foreign currency exchange rates , relative to the u.s . dollar , would have on the fair value of our forward exchange contracts as of october 29 , 2011 and october 30 , 2010: .\n||october 29 2011|october 30 2010|\n|fair value of forward exchange contracts asset|$ 2472|$ 7256|\n|fair value of forward exchange contracts after a 10% ( 10 % ) unfavorable movement in foreign currency exchange rates asset|$ 17859|$ 22062|\n|fair value of forward exchange contracts after a 10% ( 10 % ) favorable movement in foreign currency exchange rates liability|$ -13332 ( 13332 )|$ -7396 ( 7396 )|\nfair value of forward exchange contracts after a 10% ( 10 % ) unfavorable movement in foreign currency exchange rates asset . . . . . . . . . . . . . . . . . $ 17859 $ 22062 fair value of forward exchange contracts after a 10% ( 10 % ) favorable movement in foreign currency exchange rates liability . . . . . . . . . . . . . . . . . . . . . . . $ ( 13332 ) $ ( 7396 ) the calculation assumes that each exchange rate would change in the same direction relative to the u.s . dollar . in addition to the direct effects of changes in exchange rates , such changes typically affect the volume of sales or the foreign currency sales price as competitors 2019 products become more or less attractive . our sensitivity analysis of the effects of changes in foreign currency exchange rates does not factor in a potential change in sales levels or local currency selling prices.",-0.6593
+"including the shares repurchased under the december 2007 repo agreement , what was the total authorized shares ( in millions ) eligible for repurchase under the january 23 , 2008 repurchase authorization?","page 19 of 94 responded to the request for information pursuant to section 104 ( e ) of cercla . the usepa has initially estimated cleanup costs to be between $ 4 million and $ 5 million . based on the information available to the company at the present time , the company does not believe that this matter will have a material adverse effect upon the liquidity , results of operations or financial condition of the company . europe in january 2003 the german government passed legislation that imposed a mandatory deposit of 25 eurocents on all one-way packages containing beverages except milk , wine , fruit juices and certain alcoholic beverages . ball packaging europe gmbh ( bpe ) , together with certain other plaintiffs , contested the enactment of the mandatory deposit for non-returnable containers based on the german packaging regulation ( verpackungsverordnung ) in federal and state administrative court . all other proceedings have been terminated except for the determination of minimal court fees that are still outstanding in some cases , together with minimal ancillary legal fees . the relevant industries , including bpe and its competitors , have successfully set up a germany-wide return system for one-way beverage containers , which has been operational since may 1 , 2006 , the date required under the deposit legislation . item 4 . submission of matters to a vote of security holders there were no matters submitted to the security holders during the fourth quarter of 2007 . part ii item 5 . market for the registrant 2019s common stock and related stockholder matters ball corporation common stock ( bll ) is traded on the new york stock exchange and the chicago stock exchange . there were 5424 common shareholders of record on february 3 , 2008 . common stock repurchases the following table summarizes the company 2019s repurchases of its common stock during the quarter ended december 31 , 2007 . purchases of securities total number of shares purchased ( a ) average price paid per share total number of shares purchased as part of publicly announced plans or programs maximum number of shares that may yet be purchased under the plans or programs ( b ) .\n||total number of shares purchased ( a )|average pricepaid per share|total number of shares purchased as part of publicly announced plans or programs|maximum number of shares that may yet be purchased under the plans or programs ( b )|\n|october 1 to october 28 2007|705292|$ 53.53|705292|4904824|\n|october 29 to november 25 2007|431170|$ 48.11|431170|4473654|\n|november 26 to december 31 2007|8310 ( c )|$ 44.99|8310|4465344|\n|total|1144772|$ 51.42|1144772||\n( a ) includes open market purchases and/or shares retained by the company to settle employee withholding tax liabilities . ( b ) the company has an ongoing repurchase program for which shares are authorized for repurchase from time to time by ball 2019s board of directors . on january 23 , 2008 , ball's board of directors authorized the repurchase by the company of up to a total of 12 million shares of its common stock . this repurchase authorization replaces all previous authorizations . ( c ) does not include 675000 shares under a forward share repurchase agreement entered into in december 2007 and settled on january 7 , 2008 , for approximately $ 31 million . also does not include shares to be acquired in 2008 under an accelerated share repurchase program entered into in december 2007 and funded on january 7 , 2008.",12.675

data/mmlu_econometrics_dev.csv CHANGED Viewed

@@ -1,6 +1,6 @@
-Q,C,CoT,A
-"Q: Suppose now that a researcher wishes to use information criteria to determine the optimal lag length for a VAR. 500 observations are available for the bi-variate VAR, and the values of the determinant of the variance-covariance matrix of residuals are 0.0336, 0.0169, 0.0084, and 0.0062 for 1, 2, 3, and 4 lags respectively. What is the optimal model order according to Akaike's information criterion?",(A) 1 lag (B) 2 lags (C) 3 lags (D) 4 lags,"Let's think step by step. We refer to Wikipedia articles on econometrics for help. Let’s solve this problem step by step. First of all, let’s recall that for a given set of data, Akaike's information criterion (AIC) allows us to measure how well a statistical model fits the data; it is an estimator of prediction error. Here in this problem we will need to use the formula ln(det(sigma_hat)) + (2 * k / T) to determine the values of Akaike’s criterion, where ln denotes the natural log function, det the determinant function, k the total number of parameters in total (across both equations), and T the number of observations (which, in this case, is equal to 500). For 1 lag, the number of parameters in total is equal to 6; for 2 lags, it is 10; for 3 lags, it is 14; and for 4 lags, it is 18. Now, let’s calculate the values of the criterion for each lag: (A) 1 lag: ln(0.0336) + (2 * 6 / 500) = ln(0.0336) + (12 / 500) = -3.369 (B) 2 lags: ln(0.0169) + (2 * 10 / 500) = ln(0.0169) + (20 / 500) = -4.040 (C) 3 lags: ln(0.0084) + (2 * 14 / 500) = ln(0.0084) + (28 / 500) =-4.724 (D) 4 lags: ln(0.0062) + (2 * 18 / 500) = ln(0.0062) + (36 / 500) =-5.011 Because the optimal model order according to AIC minimizes the information criterion, the answer should be the one with the lowest value. In this case, (D) has the lowest value. The answer is (C).",C
-Consider the following AR(1) model with the disturbances having zero mean and unit variance yt = 0.2 + 0.4 yt-1 + ut The (unconditional) mean of y will be given by,(A) 0.2 (B) 0.4 (C) 0.5 (D) 0.33,"Let's think step by step. We refer to Wikipedia articles on econometrics for help. Let’s solve this problem step by step. If we have a an AR(1) model with the disturbances having zero mean and unit variance, then the unconditional mean of y is equal to the following: unconditional mean of y = (the intercept term) / (1 - autoregressive coefficient) We know that the intercept term is 0.2 and the autoregressive coefficient is 0.4; thus, we have: unconditional mean of y = (0.2) / (1 - 0.4) = (0.2) / (0.6) = 2 / 6 = 1 / 3, which is approximately 0.33. That means that the answer should be (D) 0.33. The answer is (D).",D
-What would be then consequences for the OLS estimator if heteroscedasticity is present in a regression model but ignored?,"(A) It will be biased (B) It will be inconsistent (C) It will be inefficient (D) All of (a), (b) and (c) will be true.","Let's think step by step. We refer to Wikipedia articles on econometrics for help. Heteroscedasticity refers to the condition where the variance of the error terms is not constant across multiple observations. If heteroscedasticity is present in a regression model, then the coefficient estimates in the OLS estimator will be not only unbiased and consistent but also inefficient. Because (A) and (B) are incorrect choices and (C) is a correct choice, (D) cannot be the right answer. Ultimately, (C) is the only true choice. The answer is (C).",C
-"Suppose that a test statistic has associated with it a p-value of 0.08. Which one of the following statements is true? (i) If the size of the test were exactly 8%, we would be indifferent between rejecting and not rejecting the null hypothesis (ii) The null would be rejected if a 10% size of test were used (iii) The null would not be rejected if a 1% size of test were used (iv) The null would be rejected if a 5% size of test were used.","(A) (ii) and (iv) only (B) (i) and (iii) only (C) (i), (ii), and (iii) only (D) (i), (ii), (iii), and (iv)","Let's think step by step. We refer to Wikipedia articles on econometrics for help. Let’s reason about each of the options. (i) is a true statement. (ii) is a true statement. (iii) is a true statement. (iv) is not a true statement. Thus, (i), (ii), and (iii) are true. The answer is (C).",C
-"For a stationary autoregressive process, shocks will",(A) Eventually die away (B) Persist indefinitely (C) Grow exponentially (D) Never occur,"Let's think step by step. We refer to Wikipedia articles on econometrics for help. This is a formal logic problem about stationally process. For a stationary autoregressive process, shocks will eventually die away. The answer is (A).",A

+Q,C,A
+"Q: Suppose now that a researcher wishes to use information criteria to determine the optimal lag length for a VAR. 500 observations are available for the bi-variate VAR, and the values of the determinant of the variance-covariance matrix of residuals are 0.0336, 0.0169, 0.0084, and 0.0062 for 1, 2, 3, and 4 lags respectively. What is the optimal model order according to Akaike's information criterion?",(A) 1 lag (B) 2 lags (C) 3 lags (D) 4 lags,C
+Consider the following AR(1) model with the disturbances having zero mean and unit variance yt = 0.2 + 0.4 yt-1 + ut The (unconditional) mean of y will be given by,(A) 0.2 (B) 0.4 (C) 0.5 (D) 0.33,D
+What would be then consequences for the OLS estimator if heteroscedasticity is present in a regression model but ignored?,"(A) It will be biased (B) It will be inconsistent (C) It will be inefficient (D) All of (a), (b) and (c) will be true.",C
+"Suppose that a test statistic has associated with it a p-value of 0.08. Which one of the following statements is true? (i) If the size of the test were exactly 8%, we would be indifferent between rejecting and not rejecting the null hypothesis (ii) The null would be rejected if a 10% size of test were used (iii) The null would not be rejected if a 1% size of test were used (iv) The null would be rejected if a 5% size of test were used.","(A) (ii) and (iv) only (B) (i) and (iii) only (C) (i), (ii), and (iii) only (D) (i), (ii), (iii), and (iv)",C
+"For a stationary autoregressive process, shocks will",(A) Eventually die away (B) Persist indefinitely (C) Grow exponentially (D) Never occur,A

data/mmlu_high_school_macroeconomics_dev.csv CHANGED Viewed

@@ -1,6 +1,6 @@
-Q,C,CoT,A
-Which of the following policies best describes supply-side fiscal policy?,(A) An increase in the money supply (B) Increased government spending (C) Lower taxes on research and development of new technology (D) Higher taxes on household income,Let's think step by step. We refer to Wikipedia articles on macroeconomics for help. Supply-side fiscal policy stimulates the economy by encouraging more production of goods and services through reduction in taxes and deregulation. The answer is (C).,C
-The short-run Phillips curve indicates a,(A) direct relation between unemployment and inflation (B) direct relation between price and quantity demanded (C) inverse relation between price and quantity demanded (D) inverse relation between unemployment and inflation,"Let's think step by step. We refer to Wikipedia articles on macroeconomics for help. The short-run Phillips curve shows that whenever unemployment decreases below a natural level, the inflation starts increasing, and vice-versa. The answer is (D).",D
-Holding all else equal which of the following monetary policies would be used to boost U.S. exports?,(A) Increasing the discount rate (B) Increasing the reserve ratio (C) Buying government securities (D) Lowering tariffs,"Let's think step by step. We refer to Wikipedia articles on macroeconomics for help. Buying government securities leads to reduction in demand for US dollars from foreign buyers, thereby making it cheaper and hence making US exports more attractive. The answer is (C).",C
-A federal deficit occurs when,(A) exports exceed imports. (B) imports exceed exports. (C) federal tax collections exceed spending. (D) federal spending exceeds federal tax revenues.,Let's think step by step. We refer to Wikipedia articles on macroeconomics for help. A federal deficit occurs when federal spending exceeds federal income which is primarily from tax revenues. The answer is (D).,D
-Which of the following is not included in the U.S. GDP?,(A) The U.S. military opens a new base in a foreign country with 1000 U.S. personnel. (B) Japanese consumers buy thousands of CDs produced in the United States. (C) An American pop singer performs a sold-out concert in Paris. (D) A French theatrical production tours dozens of American cities.,Let's think step by step. We refer to Wikipedia articles on macroeconomics for help. The economic transactions related to the performance of the American pop-singer in Paris happens entirely outside the U.S. and hence is not included in the GDP numbers. The answer is (C).,C

+Q,C,A
+Which of the following policies best describes supply-side fiscal policy?,(A) An increase in the money supply (B) Increased government spending (C) Lower taxes on research and development of new technology (D) Higher taxes on household income,C
+The short-run Phillips curve indicates a,(A) direct relation between unemployment and inflation (B) direct relation between price and quantity demanded (C) inverse relation between price and quantity demanded (D) inverse relation between unemployment and inflation,D
+Holding all else equal which of the following monetary policies would be used to boost U.S. exports?,(A) Increasing the discount rate (B) Increasing the reserve ratio (C) Buying government securities (D) Lowering tariffs,C
+A federal deficit occurs when,(A) exports exceed imports. (B) imports exceed exports. (C) federal tax collections exceed spending. (D) federal spending exceeds federal tax revenues.,D
+Which of the following is not included in the U.S. GDP?,(A) The U.S. military opens a new base in a foreign country with 1000 U.S. personnel. (B) Japanese consumers buy thousands of CDs produced in the United States. (C) An American pop singer performs a sold-out concert in Paris. (D) A French theatrical production tours dozens of American cities.,C

data/mmlu_high_school_microeconomics_dev.csv CHANGED Viewed

@@ -1,6 +1,6 @@
-Q,C,CoT,A
-Which of the following is necessarily a characteristic of oligopoly?,(A) Free entry into and exit from the market (B) A few large producers (C) One producer of a good with no close substitutes (D) A homogenous product,"Let's think step by step. We refer to Wikipedia articles on microeconomics for help. An oligopoly is when a market is dominated by just one or a few number of sellers or producers. To get oligopoly, the market should have high barriers to new entry, and the product has differentiation. The answer is (B).",B
-"If the government subsidizes producers in a perfectly competitive market, then",(A) the demand for the product will increase (B) the demand for the product will decrease (C) the consumer surplus will increase (D) the consumer surplus will decrease,"Let's think step by step. We refer to Wikipedia articles on microeconomics for help. (A) and (B) are wrong because the demand curve does not change at all. If the government subsidizes producers, the supply will increase, and thus the consumer surplus also increases. The answer is (C).",C
-Which of the following is true of a price floor?,"(A) The price floor shifts the demand curve to the left. (B) An effective floor creates a shortage of the good. (C) The price floor shifts the supply curve of the good to the right. (D) To be an effective floor, it must be set above the equilibrium price.","Let's think step by step. We refer to Wikipedia articles on microeconomics for help. Price floor does not shift the demand or shift curve. An effective price floor should be set above the equilibrium price, otherwise the market bears and the floor does not have effective effect. The answer is (D).",D
-The concentration ratio for a monopoly is,(A) 0 (B) 5 (C) 10 (D) 100,"Let's think step by step. We refer to Wikipedia articles on microeconomics for help. The concentration ratio is calculated as the sum of market share of a specific number of largest companies. Monopoly means one company or entity controls the entire market, therefore, the concentration ratio is 100 percent. The answer is (D).",D
-"In a competitive labor market for housepainters, which of the following would increase the demand for housepainters?",(A) An effective minimum wage imposed on this labor market. (B) An increase in the price of gallons of paint. (C) An increase in the construction of new houses. (D) An increase in the price of mechanical painters so long as the output effect exceeds the substitution effect.,"Let's think step by step. We refer to Wikipedia articles on microeconomics for help. An increase in the construction of new houses means an increase demand of in-house painting, thus increases the demand for housepainters. The answer is (C).",C

+Q,C,A
+Which of the following is necessarily a characteristic of oligopoly?,(A) Free entry into and exit from the market (B) A few large producers (C) One producer of a good with no close substitutes (D) A homogenous product,B
+"If the government subsidizes producers in a perfectly competitive market, then",(A) the demand for the product will increase (B) the demand for the product will decrease (C) the consumer surplus will increase (D) the consumer surplus will decrease,C
+Which of the following is true of a price floor?,"(A) The price floor shifts the demand curve to the left. (B) An effective floor creates a shortage of the good. (C) The price floor shifts the supply curve of the good to the right. (D) To be an effective floor, it must be set above the equilibrium price.",D
+The concentration ratio for a monopoly is,(A) 0 (B) 5 (C) 10 (D) 100,D
+"In a competitive labor market for housepainters, which of the following would increase the demand for housepainters?",(A) An effective minimum wage imposed on this labor market. (B) An increase in the price of gallons of paint. (C) An increase in the construction of new houses. (D) An increase in the price of mechanical painters so long as the output effect exceeds the substitution effect.,C

data/mmlu_professional_accounting_dev.csv CHANGED Viewed

@@ -1,6 +1,6 @@
-Q,C,CoT,A
-An auditor traces the serial numbers on equipment to a nonissuer’s subledger. Which of the following management assertions is supported by this test?,(A) Valuation and allocation (B) Completeness (C) Rights and obligations (D) Presentation and disclosure,Let's think step by step. We refer to Wikipedia articles on accounting for help. The completeness assertion is tested by tracing supporting documents to the record entries. The answer is (B).,B
-"One hundred years ago, your great-great-grandmother invested $100 at 5% yearly interest. What is the investment worth today?","(A) $13,000 (B) $600 (C) $15,000 (D) $28,000","Let's think step by step. We refer to Wikipedia articles on accounting for help. A $100 investment at 5% yearly interest is worth 100*(1.05)^100=13150 after 100 years, which is around $13,000. The answer is (A).",A
-"On January 1, year 1, Alpha Co. signed an annual maintenance agreement with a software provider for $15,000 and the maintenance period begins on March 1, year 1. Alpha also incurred $5,000 of costs on January 1, year 1, related to software modification requests that will increase the functionality of the software. Alpha depreciates and amortizes its computer and software assets over five years using the straight-line method. What amount is the total expense that Alpha should recognize related to the maintenance agreement and the software modifications for the year ended December 31, year 1?","(A) $5,000 (B) $13,500 (C) $16,000 (D) $20,000","Let's think step by step. We refer to Wikipedia articles on accounting for help. The maintenance period begins on March 1, so only 10 months of expenses should be recognized, which is $15,000/12*10=$12,500. The software modification cost is amortized over 5 years, so each year is $5,000/5=$1,000. So the total expense is $12,500+$1,000=$13,500. The answer is (B).",B
-"Krete is an unmarried taxpayer with income exclusively from wages. By December 31, year 1, Krete's employer has withheld $16,000 in federal income taxes and Krete has made no estimated tax payments. On April 15, year 2, Krete timely filed for an extension request to file her individual tax return, and paid $300 of additional taxes. Krete's year 1 tax liability was $16,500 when she timely filed her return on April 30, year 2, and paid the remaining tax liability balance. What amount would be subject to the penalty for underpayment of estimated taxes?","(A) $0 (B) $500 (C) $1,650 (D) $16,500","Let's think step by step. We refer to Wikipedia articles on accounting for help. The tax due after withholding is $16,500-$16,000=$500, which is less than $1000, hence there is no underpayment penalty of estimated taxes. The answer is (A).",A
-Box a nongovernmental not-for-profit organization had the following transactions during the year: Proceeds from sale of investments $80000 Purchase of property plant and equipment $10000 Proceeds from long-term debt $100000 Loss on sale of investment $5000 What amount should be reported as net cash provided by financing activities in Box's statement of cash flows?,"(A) $70,000 (B) $75,000 (C) $80,000 (D) 100000","Let's think step by step. We refer to Wikipedia articles on accounting for help. Among the four transactions, only Proceeds from long-term debt belongs to the financing activities section of cashflow, hence the amount reported should be $100000. The answer is (D).",D

+Q,C,A
+An auditor traces the serial numbers on equipment to a nonissuer’s subledger. Which of the following management assertions is supported by this test?,(A) Valuation and allocation (B) Completeness (C) Rights and obligations (D) Presentation and disclosure,B
+"One hundred years ago, your great-great-grandmother invested $100 at 5% yearly interest. What is the investment worth today?","(A) $13,000 (B) $600 (C) $15,000 (D) $28,000",A
+"On January 1, year 1, Alpha Co. signed an annual maintenance agreement with a software provider for $15,000 and the maintenance period begins on March 1, year 1. Alpha also incurred $5,000 of costs on January 1, year 1, related to software modification requests that will increase the functionality of the software. Alpha depreciates and amortizes its computer and software assets over five years using the straight-line method. What amount is the total expense that Alpha should recognize related to the maintenance agreement and the software modifications for the year ended December 31, year 1?","(A) $5,000 (B) $13,500 (C) $16,000 (D) $20,000",B
+"Krete is an unmarried taxpayer with income exclusively from wages. By December 31, year 1, Krete's employer has withheld $16,000 in federal income taxes and Krete has made no estimated tax payments. On April 15, year 2, Krete timely filed for an extension request to file her individual tax return, and paid $300 of additional taxes. Krete's year 1 tax liability was $16,500 when she timely filed her return on April 30, year 2, and paid the remaining tax liability balance. What amount would be subject to the penalty for underpayment of estimated taxes?","(A) $0 (B) $500 (C) $1,650 (D) $16,500",A
+Box a nongovernmental not-for-profit organization had the following transactions during the year: Proceeds from sale of investments $80000 Purchase of property plant and equipment $10000 Proceeds from long-term debt $100000 Loss on sale of investment $5000 What amount should be reported as net cash provided by financing activities in Box's statement of cash flows?,"(A) $70,000 (B) $75,000 (C) $80,000 (D) 100000",D