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Annotation 1428817317132

Symbol

#means-of-communication #sister-miriam-joseph #the-function-of-language #trivium

A symbol is an arbit rary sensible sign having a meaning imposed on it by convention. A sign is sensible, for it can be perceived by the senses. Every sign has meaning either from nature or from convention. A cloud, which is a sign of rain, and smoke, which is a sign of fire, have meaning from nature. A green light, which is a sign that traffic should move, has meaning from convention.

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Flashcard 1434980060428

Tags

#italian #italian-grammar

Question

Within the indicative mood there is a full range of tenses: [...] past, ho mangiato ‘I have eaten’; future, mangerò ‘I will eat’; etc.

Answer

present (mangio, ‘I eat’)

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The verb mood we use most in speaking and writing is the indicative mood. Within this mood is a full range of tenses: present mangio ‘I eat’; past ho mangiato ‘I have eaten’; future mangerò ‘I will eat’; etc. The verb mood used to express uncertainty is the subjunctive, which also has a full range of tenses. S

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Flashcard 1434987138316

Tags

#italian #italian-grammar

Question

An [...] can be used with an intransitive verb, which does not take a direct object, in which case it may be found together with a preposition such as a, da: Marco telefonava a sua madre ogni sera ‘Marco used to phone his mother every evening’.

Answer

Indirect Object

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ronoun, is one that is indirectly affected by the action or event. An indirect object can be found with a transitive verb, which already has one direct object: ho mandato delle cartoline ai miei amici ‘I sent some postcards to my friends’. Or it can be used with an intransitive verb, which does not take a direct object, in which case it may be found together with a preposition such as a, da: Marco telefonava a sua madre ogni se

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Flashcard 1435826523404

Tags

#italian #italian-grammar

Question

(present, past) Verbs normally have a [...] and a [...] .

Answer

present participle

past participle

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(present, past) Verbs normally have a present participle and a past participle. Unlike other (finite) verb forms, the participle cannot be used on its own but is found together with other verb forms. The past participle is used with the verb

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Flashcard 1435923778828

Tags

#eximbank #export-dot-gov #octopus #usa

Question

There also are a number of [...] banks that extend Ex-Im Bank credits in Mexico.

Answer

U.S.-based

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undling facility is a large medium-term loan made to a Mexican bank by a U.S. bank with the guarantee of Ex-Im Bank. The Mexican bank then makes loans to Mexican companies for the purchase of American capital goods. There also are a number of U.S.-based banks that extend Ex-Im Bank credits in Mexico. The major Mexican commercial banks have signed agreements with Ex-Im Bank to grant lines of credit to Mexican firms that purchase U.S.-ma

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Mexico - Project Financing
rantees for medium-term loans to foreign buyers of capital equipment. Most loans are made by U.S. banks with Ex-Im Bank’s guarantee. More than 85 percent of Ex-Im’s transactions in recent years directly benefited small businesses. Much of Ex-Im Bank’s activity is under so-called bundling facilities. A bundling facility is a large medium-term loan made to a Mexican bank by a U.S. bank with the guarantee of Ex-Im Bank. The Mexican bank then makes loans to Mexican companies for the purchase of American capital goods. There also are a number of U.S.-based banks that extend Ex-Im Bank credits in Mexico. The major Mexican commercial banks have signed agreements with Ex-Im Bank to grant lines of credit to Mexican firms that purchase U.S.-made products. Many major Mexican banks (Santander, BBVA-Bancomer, and others) have Master Guarantee Agreements. Such credits generally are available only to Mexican blue chip companies and to their suppliers with firm contracts. EXIM Bank is a

Annotation 1438463167756

#python #sicp

Each general concept or equation maps onto its own short function. One negative consequence of this approach is that the global frame becomes cluttered with names of small functions, which must all be unique. Another problem is that we are constrained by particular function signatures: the update argument to improve must take exactly one argument. Nested function definitions address both of these problems, but require us to enrich our environment model.

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1.6 Higher-Order Functions
tement is executed successfully. 1.6.3 Defining Functions III: Nested Definitions The above examples demonstrate how the ability to pass functions as arguments significantly enhances the expressive power of our programming language. Each general concept or equation maps onto its own short function. One negative consequence of this approach is that the global frame becomes cluttered with names of small functions, which must all be unique. Another problem is that we are constrained by particular function signatures: the update argument to improve must take exactly one argument. Nested function definitions address both of these problems, but require us to enrich our environment model. Let's consider a new problem: computing the square root of a number. In programming languages, "square root" is often abbreviated as sqrt . Repeated application of the foll

Annotation 1438467362060

#python #sicp

Function values each have a new annotation that we will include in environment diagrams from now on, a parent. The parent of a function value is the first frame of the environment in which that function was defined.

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1.6 Higher-Order Functions
c average(x, y) [parent=Global] func improve(update, close, guess) [parent=Global] func approx_eq(x, y, tolerance) [parent=Global] func sqrt(a) [parent=Global] func sqrt_update(x) [parent=f1] func sqrt_close(x) [parent=f1] Function values each have a new annotation that we will include in environment diagrams from now on, a parent. The parent of a function value is the first frame of the environment in which that function was defined. Functions without parent annotations were defined in the global environment. When a user-defined function is called, the frame created has the same parent as that function. Subseque

Annotation 1438468410636

#python #sicp

Functions without parent annotations were defined in the global environment. When a user-defined function is called, the frame created has the same parent as that function.

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1.6 Higher-Order Functions
=f1] Function values each have a new annotation that we will include in environment diagrams from now on, a parent. The parent of a function value is the first frame of the environment in which that function was defined. Functions without parent annotations were defined in the global environment. When a user-defined function is called, the frame created has the same parent as that function. Subsequently, the name sqrt_update resolves to this newly defined function, which is passed as an argument to improve . Within the body of improve , we must apply our update fun

Annotation 1438469459212

#python #sicp

two key advantages of lexical scoping in Python.

The names of a local function do not interfere with names external to the function in which it is defined, because the local function name will be bound in the current local environment in which it was defined, rather than the global environment.
A local function can access the environment of the enclosing function, because the body of the local function is evaluated in an environment that extends the evaluation environment in which it was defined.

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1.6 Higher-Order Functions
name finds the first value bound to that name in the current environment. Python checks first in the sqrt_update frame -- no a exists. Python checks next in the parent frame, f1 , and finds a binding for a to 256. Hence, we realize two key advantages of lexical scoping in Python. The names of a local function do not interfere with names external to the function in which it is defined, because the local function name will be bound in the current local environment in which it was defined, rather than the global environment. A local function can access the environment of the enclosing function, because the body of the local function is evaluated in an environment that extends the evaluation environment in which it was defined. The sqrt_update function carries with it some data: the value for a referenced in the environment in which it was defined. Because they "enclose" information in this way

Annotation 1438531063052

#python #sicp

A common pattern can be found in the body of many recursive functions. The body begins with a base case, a conditional statement that defines the behavior of the function for the inputs that are simplest to process. In the case of sum_digits , the base case is any single-digit argument, and we simply return that argument. Some recursive functions will have multiple base cases.

The base cases are then followed by one or more recursive calls. Recursive calls always have a certain character: they simplify the original problem. Recursive functions express computation by simplifying problems incrementally.

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1.7 Recursive Functions
til eventually a single-digit input is reached. This example also illustrates how functions with simple bodies can evolve complex computational processes by using recursion. 1.7.1 The Anatomy of Recursive Functions Video: Show Hide A common pattern can be found in the body of many recursive functions. The body begins with a base case, a conditional statement that defines the behavior of the function for the inputs that are simplest to process. In the case of sum_digits , the base case is any single-digit argument, and we simply return that argument. Some recursive functions will have multiple base cases. The base cases are then followed by one or more recursive calls. Recursive calls always have a certain character: they simplify the original problem. Recursive functions express computation by simplifying problems incrementally. For example, summing the digits of 7 is simpler than summing the digits of 73, which in turn is simpler than summing the digits of 738. For each subsequent call, there is less work lef

Flashcard 1438611541260

Tags

#30-dic-2016 #el-financiero #financial-times #noticias

Question

¿Permitirá China que su moneda se devalúe más del 10 por ciento?

Answer

__No.

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¿Permitirá China que su moneda se devalúe más del 10 por ciento? ___No. Las presiones están aumentando para que el renminbi se deprecie frente al dólar estadounidense después de deslizarse en más del 6 por ciento durante 2016. El capital está saliendo de Ch

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Predicciones mundiales para 2017
internacionales. El Estado Islámico puede contar con los poderes externos para actuar como reclutadores: los regímenes respaldados por los chiitas en Damasco, Bagdad y Beirut mantendrán a los sunitas alienados. (David Gardner) 7. ¿Permitirá China que su moneda se devalúe más del 10 por ciento? ___No. Las presiones están aumentando para que el renminbi se deprecie frente al dólar estadounidense después de deslizarse en más del 6 por ciento durante 2016. El capital está saliendo de China, el mercado inmobiliario se está enfriando rápidamente y las tasas de interés de los dólares estadounidenses pueden subir de nuevo. Y, sin embargo, el renminbi apenas se depreciará en lo absoluto. (James Kynge) 8. ¿Incumplirá Venezuela su deuda? ___No. Un incumplimiento resultaría en que los acreedores se apoderaran de los cargamentos de petróleo, poniendo así fin a la a

Flashcard 1438969105676

Tags

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10

Question

NPV Decision rules:

The [...] the better.
Reject if [...]

Answer

higher the NPV,

NPV is less than or equal to 0.

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Decision rules: The higher the NPV, the better. Reject if NPV is less than or equal to 0.

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Subject 3. Investment Decision Criteria
he project's cash flows are just sufficient to repay the invested capital and to provide the required rate of return on that capital. If a firm takes on a project with a positive NPV, the position of the stockholders is improved. Decision rules: The higher the NPV, the better. Reject if NPV is less than or equal to 0. NPV measures the dollar benefit of the project to shareholders. However, it does not measure the rate of return of the project, and thus cannot provide "safety margin&

Flashcard 1438974872844

Tags

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10

Question

NPV does not measure [...], and thus cannot provide "safety margin" information.

Answer

the rate of return of the project

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NPV measures the dollar benefit of the project to shareholders. However, it does not measure the rate of return of the project, and thus cannot provide "safety margin" information. Safety margin refers to how much the project return could fall in percentage terms before the invested capital is at risk

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Subject 3. Investment Decision Criteria
on that capital. If a firm takes on a project with a positive NPV, the position of the stockholders is improved. Decision rules: The higher the NPV, the better. Reject if NPV is less than or equal to 0. NPV measures the dollar benefit of the project to shareholders. However, it does not measure the rate of return of the project, and thus cannot provide "safety margin" information. Safety margin refers to how much the project return could fall in percentage terms before the invested capital is at risk. Assuming the cost of capital for the firm is 10%, calculate each cash flow by dividing the cash flow by (1 + k) t where k is the cost of capital and t is the year number.

Annotation 1439125081356

Here we sought to further refine the comparisons of GPCR binding sites by analyzing both the persis- tence and the strength of residue–ligand interactions observed across the GPCR Pocketome—the set of annotated GPCR binding pockets that have been crystallographically characterized to date 16 . By enriching the binding-site comparisons with ligand contact strengths, a method we term GPCR–CoINPocket (GPCR contact- informed neighboring pocket), we organized and clustered all class A GPCRs into a hierarchical structure that closely reproduced pre- viously characterized pharmacological relationships.

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Annotation 1439126654220

residue contact strengths (1) are distance based, not energy based; (2) rep- resent a coarse-grain approximation of actual interaction energies; (3) have improved signal-to-noise ratios through analysis of mul- tiple ligands and crystallographic conformational ensembles; and (4) provide a reasonable compromise between a binary definition of interatomic contact based on a cut-off interatomic distance and the complexities and ambiguities of accurate energy calculations for conformationally variable crystallographic ensembles.

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Annotation 1439128227084

our method is advanced in that it accounts for interaction magnitudes and in ‘inverting’ the perspective from ligand to binding site.

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Annotation 1439129799948

Finally, despite the peptide melanocortin receptors (MCR) being phylogenetically related to lysophospholipid receptors, they exhibited a high degree of similarity with other peptide receptors, such as the oxytocin and vasopressin receptors; this corroborates the recent discovery of activity of MCR agonists on oxytocin-mediated signaling pathway

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Annotation 1439131372812

GPCR–CoINPocket correctly predicted the relationship between sst 5 and various biogenic amine receptors with very high scores (Tab le 1), reflecting the fact that an aspartic acid at position 3×32 is not only conserved across these receptors but is also one of the strongest contacts found in GPCRs

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Annotation 1439132945676

Likewise, a phenylalanine residue at position 6×52 is also conserved across these receptors, perhaps explaining off-target activity of H 1 receptor ligands at sst 5 receptors

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Annotation 1439134518540

A high degree of similar- ity was detected between the melatonin MT 2 and neuropeptide Y

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Annotation 1439136091404

the opioid, CCR3 and other chemokine receptors con- sistently ranked as pharmacological neighbors of the muscarinic receptors, confirming their previously described pharmacological similarities

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Annotation 1439137664268

ChEMBL data is inherently biased toward closest phyloge- netic relatives because of the common practice of testing ligand selectivity profiles only on homologous receptors

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Annotation 1439139237132

Surrogate ligands are most needed for these unexplored receptors, as they enable both the biochemical characterization of the receptors in vitro and ligand-guided homol- ogy model refinement in silico.

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Annotation 1439144217868

#deeplearning #protein #proteomics #research

Sander¹⁴ developed a DSSP algorithm to classify SS into 8 fine-grained states. In particular, DSSP assigns 3 types for helix (G for 3₁₀ helix, H for alpha-helix, and I for pi-helix), 2 types for strand (E for beta-strand and B for beta-bridge), and 3 types for coil (T for beta-turn, S for high curvature loop, and L for irregular).

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Protein Secondary Structure Prediction Using Deep Convolutional Neural Fields : Scientific Reports
S) refers to the local conformation of the polypeptide backbone of proteins. There are two regular SS states: alpha-helix (H) and beta-strand (E), as suggested by Pauling 13 more than 60 years ago, and one irregular SS type: coil region (C). Sander 14 developed a DSSP algorithm to classify SS into 8 fine-grained states. In particular, DSSP assigns 3 types for helix (G for 3 10 helix, H for alpha-helix, and I for pi-helix), 2 types for strand (E for beta-strand and B for beta-bridge), and 3 types for coil (T for beta-turn, S for high curvature loop, and L for irregular). Overall, protein secondary structure can be regarded as a bridge that links the primary sequence and tertiary structure and thus, is used by many structure and functional analysis tools

Flashcard 1439151295756

Tags

#vocabulary

Question

Hurdle

Answer

A light portable barrier over which competitors must leap in certain races.

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Flashcard 1439153130764

Tags

#vocabulary

Question

Hurdle español

Answer

obstaculo

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Annotation 1439154965772

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10

The IRR on a project is its expected rate of return.

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Subject 3. Investment Decision Criteria
3; This is the discount rate that forces a project's NPV to equal zero. Note that this formula is simply the NPV formula solved for the particular discount rate that forces the NPV to equal zero. The IRR on a project is its expected rate of return. The NPV and IRR methods will usually lead to the same accept or reject decisions. Decision rules: The higher the IRR, the better. Define the hurdle rate, which

Annotation 1439157587212

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10

The NPV and IRR methods will usually lead to the same accept or reject decisions.

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Subject 3. Investment Decision Criteria
ject's NPV to equal zero. Note that this formula is simply the NPV formula solved for the particular discount rate that forces the NPV to equal zero. The IRR on a project is its expected rate of return. The NPV and IRR methods will usually lead to the same accept or reject decisions. Decision rules: The higher the IRR, the better. Define the hurdle rate, which typically is the cost of capital. Reject if IRR is less than or equal to the hurd

Flashcard 1439158635788

Tags

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10

Question

The NPV and IRR methods will usually lead to [...] decisions.

Answer

the same accept or reject

But not always

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The NPV and IRR methods will usually lead to the same accept or reject decisions.

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Annotation 1439160995084

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10

Decision rules:

The higher the IRR, the better.
Define the hurdle rate, which typically is the cost of capital.
Reject if IRR is less than or equal to the hurdle rate.

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Subject 3. Investment Decision Criteria
ply the NPV formula solved for the particular discount rate that forces the NPV to equal zero. The IRR on a project is its expected rate of return. The NPV and IRR methods will usually lead to the same accept or reject decisions. Decision rules: The higher the IRR, the better. Define the hurdle rate, which typically is the cost of capital. Reject if IRR is less than or equal to the hurdle rate. IRR does provide "safety margin" information. Calculate Project A's and B's IRR. Project A: -1000 + 750/(1 + IRR) 1 + 350/(1+IRR) 2 +

Flashcard 1439162043660

Tags

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10

Question

IRR Decision rules:

[...] the better.
Define the hurdle rate, which typically is [...]
Reject if [...]

Answer

The higher the IRR,

the cost of capital.

IRR is less than or equal to the hurdle rate.

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Decision rules: The higher the IRR, the better. Define the hurdle rate, which typically is the cost of capital. Reject if IRR is less than or equal to the hurdle rate.

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Annotation 1439164402956

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10

IRR does provide "safety margin" information.

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Subject 3. Investment Decision Criteria
he same accept or reject decisions. Decision rules: The higher the IRR, the better. Define the hurdle rate, which typically is the cost of capital. Reject if IRR is less than or equal to the hurdle rate. IRR does provide "safety margin" information. Calculate Project A's and B's IRR. Project A: -1000 + 750/(1 + IRR) 1 + 350/(1+IRR) 2 + 150/(1+IRR) 3 + 50/(1+IRR) 4 = 0 Since it is difficult

Flashcard 1439165451532

Tags

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10

Question

IRR does provide [...] information.

Answer

"safety margin"

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IRR does provide "safety margin" information.

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Annotation 1439167024396

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10

Since it is difficult to determine by hand, the use of a financial calculator is needed to solve for IRR.

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Subject 3. Investment Decision Criteria
dle rate. IRR does provide "safety margin" information. Calculate Project A's and B's IRR. Project A: -1000 + 750/(1 + IRR) 1 + 350/(1+IRR) 2 + 150/(1+IRR) 3 + 50/(1+IRR) 4 = 0 Since it is difficult to determine by hand, the use of a financial calculator is needed to solve for IRR. The IRR for Project A is 18.32% and for Project B is 15.03%. Payback Period This is the expected number of years required to recover the original

Annotation 1439168597260

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10

Payback occurs when the cumulative net cash flow equals 0.

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Subject 3. Investment Decision Criteria
ancial calculator is needed to solve for IRR. The IRR for Project A is 18.32% and for Project B is 15.03%. Payback Period This is the expected number of years required to recover the original investment. Payback occurs when the cumulative net cash flow equals 0. Decision rules: The shorter the payback period, the better. A firm should establish a benchmark payback period. Reject if payback is greater than benchmark. &#

Annotation 1439170170124

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10

Payback period is the expected number of years required to recover the original investment.

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Subject 3. Investment Decision Criteria
) 4 = 0 Since it is difficult to determine by hand, the use of a financial calculator is needed to solve for IRR. The IRR for Project A is 18.32% and for Project B is 15.03%. Payback Period This is the expected number of years required to recover the original investment. Payback occurs when the cumulative net cash flow equals 0. Decision rules: The shorter the payback period, the better. A firm should establish a benchmark payb

Annotation 1439172529420

Cons of Payback

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10

It ignores cash flows beyond the payback period. Payback period is a type of "break-even" analysis: it indicates how quickly you can make enough money to recover the initial investment, not how much money you can make during the life of the project.
It does not consider the time value of money. Therefore, the cost of capital is not reflected in the cash flows or calculations.

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Subject 3. Investment Decision Criteria
establish a benchmark payback period. Reject if payback is greater than benchmark. Payback A = 1 + (1000 - 750)/350 = 1.7 years Payback B = 3 + (1000 - 100 - 250 - 450)/750 = 3.27 years Drawbacks: It ignores cash flows beyond the payback period. Payback period is a type of "break-even" analysis: it indicates how quickly you can make enough money to recover the initial investment, not how much money you can make during the life of the project. It does not consider the time value of money. Therefore, the cost of capital is not reflected in the cash flows or calculations. Discounted Payback Period This

Annotation 1439175675148

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10

Discounted Payback Period

This is similar to the regular payback method except that it discounts cash flows at the project's cost of capital. It considers the time value of money, but it ignores cash flows beyond the payback period.

Again, assume the cost of capital for the firm is 10%:
Discounted PaybackA = 2 + (1000 - 682 - 289)/113 = 2.26 years
Discounted PaybackB = 3 + (1000 - 91 - 207 - 338)/512 = 3.71 years

The payback provides an indication of a project's risk and liquidity because it shows how long the invested capital will be tied up in a project and "at risk." The shorter the payback period, the greater the project's liquidity, the lower the risk, and the better the project. The payback is often used as one indicator of a project's risk.

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Subject 3. Investment Decision Criteria
y to recover the initial investment, not how much money you can make during the life of the project. It does not consider the time value of money. Therefore, the cost of capital is not reflected in the cash flows or calculations. Discounted Payback Period This is similar to the regular payback method except that it discounts cash flows at the project's cost of capital. It considers the time value of money, but it ignores cash flows beyond the payback period. Again, assume the cost of capital for the firm is 10%: Discounted PaybackA = 2 + (1000 - 682 - 289)/113 = 2.26 years Discounted PaybackB = 3 + (1000 - 91 - 207 - 338)/512 = 3.71 years The payback provides an indication of a project's risk and liquidity because it shows how long the invested capital will be tied up in a project and "at risk." The shorter the payback period, the greater the project's liquidity, the lower the risk, and the better the project. The payback is often used as one indicator of a project's risk. Average Accounting Rate of Return (not required) This is a very simple rate of return: Its only advantage is that

Flashcard 1439176723724

Tags

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10

Question

Discounted Payback Period is similar to the regular payback method except that [...].

Answer

it discounts cash flows at the project's cost of capital

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Discounted Payback Period This is similar to the regular payback method except that it discounts cash flows at the project's cost of capital. It considers the time value of money, but it ignores cash flows beyond the payback period. Again, assume the cost of capital for the firm is 10%: Discounted PaybackA

Original toplevel document

Flashcard 1439179083020

Tags

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10

Question

Discounted Payback Period considers [...], but it ignores [...]

Answer

the time value of money

cash flows beyond the payback period.

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Original toplevel document

Annotation 1439181442316

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10

The payback provides an indication of a project's risk and liquidity because it shows how long the invested capital will be tied up in a project and "at risk."

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Open it
nd the payback period. Again, assume the cost of capital for the firm is 10%: Discounted PaybackA = 2 + (1000 - 682 - 289)/113 = 2.26 years Discounted PaybackB = 3 + (1000 - 91 - 207 - 338)/512 = 3.71 years The payback provides an indication of a project's risk and liquidity because it shows how long the invested capital will be tied up in a project and "at risk." The shorter the payback period, the greater the project's liquidity, the lower the risk, and the better the project. The payback is often used as one indicator of a project's risk.</spa

Original toplevel document

Annotation 1439183015180

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10

The shorter the payback period, the greater the project's liquidity, the lower the risk, and the better the project.

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ted PaybackB = 3 + (1000 - 91 - 207 - 338)/512 = 3.71 years The payback provides an indication of a project's risk and liquidity because it shows how long the invested capital will be tied up in a project and "at risk." The shorter the payback period, the greater the project's liquidity, the lower the risk, and the better the project. The payback is often used as one indicator of a project's risk.<body><html>

Original toplevel document

Annotation 1439184588044

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10

The payback is often used as one indicator of a project's risk.

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ect's risk and liquidity because it shows how long the invested capital will be tied up in a project and "at risk." The shorter the payback period, the greater the project's liquidity, the lower the risk, and the better the project. The payback is often used as one indicator of a project's risk.<body><html>

Original toplevel document

Annotation 1439186160908

#analyst-notes #cfa-level-1 #corporate-finance #has-images #reading-35-capital-budgeting #study-session-10

Average Accounting Rate of Return
(not required)

This is a very simple rate of return:

Its only advantage is that it is very easy to calculate.

Drawbacks:

It does not take into account the time value of money; the value of cash flows does not diminish with time, as is the case with NPV and IRR.
ARR is based on numbers that include non-cash items.

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Subject 3. Investment Decision Criteria
be tied up in a project and "at risk." The shorter the payback period, the greater the project's liquidity, the lower the risk, and the better the project. The payback is often used as one indicator of a project's risk. Average Accounting Rate of Return (not required) This is a very simple rate of return: Its only advantage is that it is very easy to calculate. Drawbacks: It does not take into account the time value of money; the value of cash flows does not diminish with time, as is the case with NPV and IRR. ARR is based on numbers that include non-cash items. Profitability Index (PI) This is an index used to evaluate proposals for which net present values have been determined. The profitability index is determined b

Flashcard 1439187209484

Tags

#analyst-notes #cfa-level-1 #corporate-finance #has-images #reading-35-capital-budgeting #study-session-10

Question

Average Accounting Rate of Return

This is a very simple rate of return:

[...]

Answer

Its only advantage is that it is very easy to calculate.

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Average Accounting Rate of Return (not required) This is a very simple rate of return: Its only advantage is that it is very easy to calculate. Drawbacks: It does not take into account the time value of money; the value of cash flows does not diminish with time, as is the case with NPV and IRR. ARR is

Original toplevel document

Flashcard 1439189568780

Tags

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10

Question

Average Accounting Rate of Return Its only advantage is [...]

Answer

that it is very easy to calculate.

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Flashcard 1439191928076

Tags

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10

Question

Average Accounting Rate of Return

Drawbacks:

It does not take into account the time value of money; the value of cash flows does not diminish with time, as is the case with NPV and IRR.
ARR is based on numbers that include [...]

Answer

non-cash items.

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ge is that it is very easy to calculate. Drawbacks: It does not take into account the time value of money; the value of cash flows does not diminish with time, as is the case with NPV and IRR. ARR is based on numbers that include non-cash items.<body><html>

Original toplevel document

Annotation 1439194287372

#analyst-notes #cfa-level-1 #corporate-finance #has-images #reading-35-capital-budgeting #study-session-10

Profitability Index (PI)

This is an index used to evaluate proposals for which net present values have been determined. The profitability index is determined by dividing the present value of each proposal by its initial investment.

The PI indicates the value you are receiving in exchange for one unit of currency invested.

An index value greater than 1.0 is acceptable and the higher the number, the more financially attractive the proposal.
A ratio of 1.0 is logically the lowest acceptable measure on the index. Any value lower than 1.0 would indicate that the project's PV is less than the initial investment.

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Subject 3. Investment Decision Criteria
#13; Drawbacks: It does not take into account the time value of money; the value of cash flows does not diminish with time, as is the case with NPV and IRR. ARR is based on numbers that include non-cash items. Profitability Index (PI) This is an index used to evaluate proposals for which net present values have been determined. The profitability index is determined by dividing the present value of each proposal by its initial investment. The PI indicates the value you are receiving in exchange for one unit of currency invested. An index value greater than 1.0 is acceptable and the higher the number, the more financially attractive the proposal. A ratio of 1.0 is logically the lowest acceptable measure on the index. Any value lower than 1.0 would indicate that the project's PV is less than the initial investment. Learning Outcome Statements d. calculate and interpret net present value (NPV), internal rate of return (IRR), payback period, discounted payback period, and profita

Flashcard 1439195335948

Tags

#analyst-notes #cfa-level-1 #corporate-finance #has-images #reading-35-capital-budgeting #study-session-10

Question

Profitability Index (PI) is an index used to evaluate proposals for which [...]

Answer

net present values have been determined.

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Flashcard 1439197695244

Tags

#analyst-notes #cfa-level-1 #corporate-finance #has-images #reading-35-capital-budgeting #study-session-10

Question

Profitability Index (PI) Formula
[...]

Answer

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Profitability Index (PI) This is an index used to evaluate proposals for which net present values have been determined. The profitability index is determined by dividing the present value of each proposal by its initial investment. The PI indicates the value you are receiving in exchange for one unit of currency invested. An index value greater than 1.0 is acceptable and the higher the number, the more financially attractive the proposal. A ratio of 1.0 is logically the lowest acceptable measure on the index. Any value lower than 1.0 would indicate that the project's PV is less than the initial investment.

Original toplevel document

Annotation 1439200054540

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10

The PI indicates the value you are receiving in exchange for one unit of currency invested.

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is an index used to evaluate proposals for which net present values have been determined. The profitability index is determined by dividing the present value of each proposal by its initial investment. The PI indicates the value you are receiving in exchange for one unit of currency invested. An index value greater than 1.0 is acceptable and the higher the number, the more financially attractive the proposal. A ratio of 1.0 is logically the lowest acceptable mea

Original toplevel document

Flashcard 1439201627404

Tags

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10

Question

A Profitability Index value greater than [...] is acceptable

Answer

1.0

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viding the present value of each proposal by its initial investment. The PI indicates the value you are receiving in exchange for one unit of currency invested. An index value greater than 1.0 is acceptable and the higher the number, the more financially attractive the proposal. A ratio of 1.0 is logically the lowest acceptable measure on the index. Any value lower than 1.0 w

Original toplevel document

Flashcard 1439204773132

Tags

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10

Question

Profitability Index (PI)

A ratio of 1.0 is logically the lowest acceptable measure on the index. Any value lower than 1.0 would indicate that [...]

Answer

the project's PV is less than the initial investment.

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An index value greater than 1.0 is acceptable and the higher the number, the more financially attractive the proposal. A ratio of 1.0 is logically the lowest acceptable measure on the index. Any value lower than 1.0 would indicate that the project's PV is less than the initial investment.<body><html>

Original toplevel document

Flashcard 1439207132428

Tags

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10

Question

Learning Outcome Statements

d. `calculate and interpret` [...], [...] , [...] , [...] , and [...] of a single capital project;

Answer

net present value (NPV)

internal rate of return (IRR)

payback period

discounted payback period

profitability index (PI)

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Subject 3. Investment Decision Criteria
active the proposal. A ratio of 1.0 is logically the lowest acceptable measure on the index. Any value lower than 1.0 would indicate that the project's PV is less than the initial investment. Learning Outcome Statements d. calculate and interpret net present value (NPV), internal rate of return (IRR), payback period, discounted payback period, and profitability index (PI) of a single capital project;<body><html>

Article 1439209491724

Subject 4. NPV Profiles
#analyst-notes #cfa-level-1 #has-images #reading-35-capital-budgeting #study-session-10

A NPV profile is a graph showing the relationship between a project's NPV and the firm's cost of capital. The point where a project's net present value profile crosses the horizontal axis indicates a project's internal rate of return. Some observations: The IRR is the discount rate that sets the NPV to 0. The NPV profile declines as the discount rate increases. Project A has a higher NPV at low discount rates, while Project B has a higher NPV at high discount rates. The NPV profiles of Project A and B join at the crossover rate, at which the projects' NPVs are equal. The slope of Project A's NPV profile is steeper. This indicates that Project A's NPV is more sensitive to changes in the discount rates.

Annotation 1439212375308

#analyst-notes #cfa-level-1 #reading-35-capital-budgeting #study-session-10

A NPV profile is a graph showing the relationship between a project's NPV and the firm's cost of capital.

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Subject 4. NPV Profiles
A NPV profile is a graph showing the relationship between a project's NPV and the firm's cost of capital. The point where a project's net present value profile crosses the horizontal axis indicates a project's internal rate of return. Some observations: &#13

Annotation 1439213948172

#analyst-notes #cfa-level-1 #reading-35-capital-budgeting #study-session-10

The point where a project's net present value profile crosses the horizontal axis indicates a project's internal rate of return.

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Annotation 1439215521036

#analyst-notes #cfa-level-1 #reading-35-capital-budgeting #study-session-10

Some observations on NPV profile:

The IRR is the discount rate that sets the NPV to 0.
The NPV profile declines as the discount rate increases.
Project A has a higher NPV at low discount rates, while Project B has a higher NPV at high discount rates. The NPV profiles of Project A and B join at the crossover rate, at which the projects' NPVs are equal.
The slope of Project A's NPV profile is steeper. This indicates that Project A's NPV is more sensitive to changes in the discount rates.

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Subject 4. NPV Profiles
showing the relationship between a project's NPV and the firm's cost of capital. The point where a project's net present value profile crosses the horizontal axis indicates a project's internal rate of return. Some observations: The IRR is the discount rate that sets the NPV to 0. The NPV profile declines as the discount rate increases. Project A has a higher NPV at low discount rates, while Project B has a higher NPV at high discount rates. The NPV profiles of Project A and B join at the crossover rate, at which the projects' NPVs are equal. The slope of Project A's NPV profile is steeper. This indicates that Project A's NPV is more sensitive to changes in the discount rates. <body><html>

Flashcard 1439231773964

Tags

#italian #italian-grammar

Question

A subordinate clause is one that [...]

Answer

depends on another clause

usually the main clause in a sentence.

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A subordinate clause is one that depends on another clause, usually the main clause in a sentence. It can be introduced by a conjunction such as che ‘what’ or perché ‘because’, or a relative pronoun such as che ‘who, which’. See Clauses.

Original toplevel document (pdf)

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Flashcard 1439235443980

Tags

#eximbank #key-common-features #octopus #usa

Question

Ex-Im Bank assists U.S. exporters by:

(a) providing [...]; or

(b) [...] to creditworthy foreign buyers for purchases of U.S. goods and services.

Answer

direct loans

guaranteeing repayment of commercial loans

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Ex-Im Bank assists U.S. exporters by: (a) providing direct loans; or (b) guaranteeing repayment of commercial loans to creditworthy foreign buyers for purchases of U.S. goods and services.

Original toplevel document

Government-Assisted Foreign Buyer Financing (Eximbank USA)
e sales package Cash payment upon shipment of the goods or services Cons Subject to certain restrictions for U.S. government policy reasons Possible lengthy process of approving financing Key Common Features of Ex-Im Bank’s Loan Guarantees and Direct Loans Ex-Im Bank assists U.S. exporters by: (a) providing direct loans; or (b) guaranteeing repayment of commercial loans to creditworthy foreign buyers for purchases of U.S. goods and services. These loans are generally used to finance the purchase of high-value capital equipment or services or exports to large-scale projects that require medium- or long-term financing. Ex-Im Bank’s foreign buyer financing is also used to finance the purchase of refurbished equipment, software, and certain banking and legal fees, as well as some local costs and expenses. There is no minimum or maximum limit to the size of the export sale that may be supported by the Bank’s foreign buyer financing. Ex-Im Bank requires the foreign buyer to make a cash payment to the exporter equal to at least 15 percent of the U.S. supply contract. Repayment terms up to five years are available for exports of capital goods and services. Transportation equipment and exports to large-scale projects may be eligible for repayment terms up to 10 years (12 to 18 years for certain sectors). Military items are generally not eligible for Ex-Im Bank financing nor are sales to foreign military entities. In addition, goods must meet the Bank’s foreign content requirements. Finally, Ex-Im Bank financing may not be available in certain countries and certain terms for U.S. government policy reasons (for more information, see the Country Limitation Schedule posted on the Bank’s Web site, www.exim.gov, under the “Apply” section). Key Features of Ex-Im Bank Loan Guarantees Loans are made by commercial banks and repayment of these loans is guaranteed by Ex-Im Bank. Guarant

Flashcard 1439237803276

Tags

#eximbank #key-common-features #octopus #usa

Question

Transportation equipment and exports to large-scale projects may be eligible for repayment terms up to [...]

Answer

10 years (12 to 18 years for certain sectors).

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Transportation equipment and exports to large-scale projects may be eligible for repayment terms up to 10 years (12 to 18 years for certain sectors).

Original toplevel document

Flashcard 1439242521868

Tags

#eximbank #key-features-of-direct-loans #octopus #usa

Question

Direct loans are best used when the buyer insists on [...]

Answer

a fixed rate.

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Direct loans are best used when the buyer insists on a fixed rate.

Original toplevel document

Government-Assisted Foreign Buyer Financing (Eximbank USA)
rrencies. Guaranteed loans have a faster documentation process with the assistance of commercial banks. There are no U.S. vessel shipping requirements for amounts less than $20 million. Key Features of Ex-Im Bank Direct Loans Fixed-rate loans are provided directly to creditworthy foreign buyers. Direct loans support 85 percent of the U.S. contract price. Exporters will be paid in full upon disbursement of a loan to the foreign buyers. Generally, goods shipped by sea must be carried exclusively on U.S. vessels. Direct loans are best used when the buyer insists on a fixed rate. Fees and Ex-Im Bank Contact Information Letter of interest: $50 for online application; $100 for paper application via mail and fax.

Flashcard 1439244094732

Tags

#eximbank #fees #octopus #usa

Question

Direct loan commitment: [...] percent per year on the undisbursed balance of the loan.

Answer

0.5

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Direct loan commitment: 0.5 percent per year on the undisbursed balance of the loan.

Original toplevel document

Government-Assisted Foreign Buyer Financing (Eximbank USA)
disbursement of a loan to the foreign buyers. Generally, goods shipped by sea must be carried exclusively on U.S. vessels. Direct loans are best used when the buyer insists on a fixed rate. Fees and Ex-Im Bank Contact Information Letter of interest: $50 for online application; $100 for paper application via mail and fax. Preliminary commitment: 0.1 of 1 percent of the financed amount up to $25,000. Guarantee commitment: 0.125 percent per year on the undisbursed balance of the loan. Direct loan commitment: 0.5 percent per year on the undisbursed balance of the loan. Exposure fee: varies, depending upon tenor, country risk, and buyer credit risk. For more information about loans from Ex-Im Bank, visit its Web site at www.exim.gov or call 1-800-565-EXIM (3946). <body><html>

Flashcard 1439245667596

Tags

#vocabulary

Question

Disburse

Answer

to pay out (money), especially for expenses; expend.

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Flashcard 1439247502604

Tags

#eximbank #fees #octopus #usa

Question

Exposure fee: varies, depending upon [...], [...] , and [...]

Answer

tenor

country risk

buyer credit risk.

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Exposure fee: varies, depending upon tenor, country risk, and buyer credit risk.

Original toplevel document

Flashcard 1439249861900

Tags

#eximbank #octopus #usa

Question

Financing is available for medium-term (up to [...]) and long-term (generally up to [...] ) transactions.

Answer

5 years

10 years

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Financing is available for medium-term (up to 5 years) and long-term (generally up to 10 years) transactions.

Original toplevel document

Government-Assisted Foreign Buyer Financing (Eximbank USA)
oods or services and exports to large-scale projects. This type of financing provides direct loans to foreign buyers at a fixed interest rate or provides guarantees for term financing offered by commercial lenders. Financing is available for medium-term (up to 5 years) and long-term (generally up to 10 years) transactions. CHARACTERISTICS OF GOVERNMENT‑ASSISTED FOREIGN BUYER FINANCING Applicability Suitable for the export of high-value capital goods or services or large-scale

Flashcard 1439252483340

Tags

#eximbank #key-common-features #octopus #usa

Question

goods must meet the Bank’s [...] requirements

Answer

foreign content

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goods must meet the Bank’s foreign content requirements

Original toplevel document

Flashcard 1439254056204

Tags

#eximbank #key-features-of-loan-guarantees #octopus #usa

Question

Loans are made by [...] and repayment of these loans is guaranteed by [...]

Answer

commercial banks

Ex-Im Bank

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Loans are made by commercial banks and repayment of these loans is guaranteed by Ex-Im Bank

Original toplevel document

Government-Assisted Foreign Buyer Financing (Eximbank USA)
g may not be available in certain countries and certain terms for U.S. government policy reasons (for more information, see the Country Limitation Schedule posted on the Bank’s Web site, www.exim.gov, under the “Apply” section). Key Features of Ex-Im Bank Loan Guarantees Loans are made by commercial banks and repayment of these loans is guaranteed by Ex-Im Bank. Guaranteed loans cover 100 percent of the principal and interest for 85 percent of the U.S. contract price. Interest rates are negotiable, and are usually floating and lower than fixed rates. Guaranteed loans are fully transferable, can be securitized and are available in certain foreign currencies. Guaranteed loans have a faster documentation process with the assistance of commercial banks. There are no U.S. vessel shipping requirements for amounts less than $20 million. Key Features of Ex-Im Bank Direct Loans Fixed-rate loans are provided directly to creditworthy foreign buyers. Direct loans supp

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#eximbank #key-features-of-loan-guarantees #octopus #usa

Question

Interest rates are negotiable, and are usually [...] and [...] rates.

Answer

floating and lower than fixed

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Interest rates are negotiable, and are usually floating and lower than fixed rates.

Original toplevel document

Flashcard 1439258774796

Tags

#eximbank #key-features-of-loan-guarantees #octopus #usa

Question

Guaranteed loans are fully transferable, can be securitized and are available in [...]

Answer

certain foreign currencies.

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Guaranteed loans are fully transferable, can be securitized and are available in certain foreign currencies.

Original toplevel document

Flashcard 1439260347660

Tags

#eximbank #key-features-of-direct-loans #octopus #usa

Question

Direct loans support [...] of the U.S. contract price.

Answer

85 percent

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Direct loans support 85 percent of the U.S. contract price.

Original toplevel document

Flashcard 1439261920524

Tags

#eximbank #fees #octopus #usa

Question

Letter of interest: $[...] for online application; $ [...]for paper application via mail and fax.

Answer

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Letter of interest: $50 for online application; $100 for paper application via mail and fax.

Original toplevel document

Flashcard 1439264279820

Tags

#eximbank #fees #octopus #usa

Question

Preliminary commitment: [...] of [...] percent of the financed amount up to $ [...]

Answer

0.1

1

25,000.

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Preliminary commitment: 0.1 of 1 percent of the financed amount up to $25,000.

Original toplevel document

Flashcard 1439266639116

Tags

#eximbank #octopus #usa

Question

Ex-Im Bank does not compete with commercial lenders but provides products that fill gaps in trade financing by assuming [...] that the private sector is unable or unwilling to accept.

Answer

country and credit risks

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Ex-Im Bank does not compete with commercial lenders but provides products that fill gaps in trade financing by assuming country and credit risks that the private sector is unable or unwilling to accept.

Original toplevel document

Government-Assisted Foreign Buyer Financing (Eximbank USA)
Bank (Ex-Im Bank). As the official U.S. export credit agency, Ex-Im Bank supports the purchases of U.S. goods and services by creditworthy foreign buyers who are unable to obtain the financing they need through traditional commercial sources. Ex-Im Bank does not compete with commercial lenders but provides products that fill gaps in trade financing by assuming country and credit risks that the private sector is unable or unwilling to accept. With Ex-Im Bank’s foreign buyer financing, U.S. exporters can turn their business opportunities into real transactions and get paid cash on delivery and acceptance of the goods or servi

Flashcard 1439268474124

Tags

#eximbank #key-common-features #octopus #usa

Question

Ex-Im Bank’s foreign buyer financing is also used to finance the purchase of refurbished equipment, software, and certain [...], as well as some local costs and expenses.

Answer

banking and legal fees

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Ex-Im Bank’s foreign buyer financing is also used to finance the purchase of refurbished equipment, software, and certain banking and legal fees, as well as some local costs and expenses.

Original toplevel document

Flashcard 1439270046988

Tags

#eximbank #key-common-features #octopus #usa

Question

There is no [...] limit to the size of the export sale that may be supported by the Bank’s foreign buyer financing.

Answer

minimum or maximum

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There is no minimum or maximum limit to the size of the export sale that may be supported by the Bank’s foreign buyer financing.

Original toplevel document

Flashcard 1439271619852

Tags

#eximbank #key-common-features #octopus #usa

Question

Ex-Im Bank requires the foreign buyer to make a cash payment to the exporter equal to at least [...] of the U.S. supply contract.

Answer

15 percent

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Ex-Im Bank requires the foreign buyer to make a cash payment to the exporter equal to at least 15 percent of the U.S. supply contract.

Original toplevel document

Flashcard 1439273192716

Tags

#eximbank #key-features-of-loan-guarantees #octopus #usa

Question

Guaranteed loans cover 100 percent of [...] and [...] for 85 percent of the U.S. contract price.

Answer

the principal and interest

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Guaranteed loans cover 100 percent of the principal and interest for 85 percent of the U.S. contract price.

Original toplevel document

Flashcard 1439275552012

Tags

#eximbank #key-features-of-loan-guarantees #octopus #usa

Question

There are no U.S. vessel shipping requirements for amounts less than [...]

Answer

$20 million.

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There are no U.S. vessel shipping requirements for amounts less than $20 million.

Original toplevel document

Flashcard 1439277124876

Tags

#eximbank #fees #octopus #usa

Question

Letter of interest

[...]

Guarantee commitment

[...]

Exposure fee

Answer

Preliminary commitment

Direct loan commitment

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Letter of interest: $50 for online application; $100 for paper application via mail and fax. Preliminary commitment: 0.1 of 1 percent of the financed amount up to $25,000. Guarantee commitment: 0.125 percent per year on the undisbursed balance of the loan. Direct loan commit

Original toplevel document

Flashcard 1439279746316

Tags

#eximbank #fees #octopus #usa

Question

Guarantee commitment: [...] percent per year on the undisbursed balance of the loan.

Answer

0.125

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Guarantee commitment: 0.125 percent per year on the undisbursed balance of the loan.

Original toplevel document

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#cfa #cfa-level-1 #economic-and-normal-profit #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-2-objectives-of-the-firm #study-session-4

Question

Some factors (monopoly, market barriers, trademarks etc.) may lead the firm to have [...]

Answer

positive net present value investment (NPV) opportunities.

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Some factors (monopoly, market barriers, trademarks etc.) may lead the firm to have positive net present value investment (NPV) opportunities. Access to positive NPV opportunities and therefore profit in excess of normal profits in the short run may or may not exist in the long run, depending on the potential strength of compe

Original toplevel document

2. OBJECTIVES OF THE FIRM
00 – $48,000,000 = $2,000,000. Note that total accounting costs in either case include interest expense—which represents the return required by suppliers of debt capital—because interest expense is an explicit cost. 2.1.2. Economic Profit and Normal Profit Economic profit (also known as abnormal profit or supernormal profit ) may be defined broadly as accounting profit less the implicit opportunity costs not included in total accounting costs. Equation (3a) Economic profit = Accounting profit – Total implicit opportunity costs We can define a term, economic cost , equal to the sum of total accounting costs and implicit opportunity costs. Economic profit is therefore equivalently defined as: Equation (3b) Economic profit = Total revenue – Total economic costs For publicly traded corporations, the focus of investment analysts’ work, the cost of equity capital is the largest and most readily identified implicit opportunity cost omitted in calculating total accounting cost. Consequently, economic profit can be defined for publicly traded corporations as accounting profit less the required return on equity capital. Examples will make these concepts clearer. Consider the start-up company for which we calculated an accounting profit of €300,000 and suppose that the entrepreneurial executive who launched the start-up took a salary reduction of €100,000 per year relative to the job he left. That €100,000 is an opportunity cost of involving him in running the start-up. Besides labor, financial capital is a resource. Suppose that the executive, as sole owner, makes an investment of €1,500,000 to launch the enterprise and that he might otherwise expect to earn €200,000 per year on that amount in a similar risk investment. Total implicit opportunity costs are €100,000 + €200,000 = €300,000 per year and economic profit is zero: €300,000 – €300,000 = €0. For the publicly traded corporation, we consider the cost of equity capital as the only implicit opportunity cost identifiable. Suppose that equity investment is $18,750,000 and shareholders’ required rate of return is 8 percent so that the dollar cost of equity capital is $1,500,000. Economic profit for the publicly traded corporation is therefore $2,000,000 (accounting profit) less $1,500,000 (cost of equity capital) or $500,000. For the start-up company, economic profit was zero. Total economic costs were just covered by revenues and the company was not earning a euro more nor less than the amount that meets the opportunity costs of the resources used in the business. Economists would say the company was earning a normal profit (economic profit of zero). In simple terms, normal profit is the level of accounting profit needed to just cover the implicit opportunity costs ignored in accounting costs. For the publicly traded corporation, normal profit was $1,500,000: normal profit can be taken to be the cost of equity capital (in money terms) for such a company or the dollar return required on an equal investment by equity holders in an equivalently risky alternative investment opportunity. The publicly traded corporation actually earned $500,000 in excess of normal profit, which should be reflected in the common shares’ market price. Thus, the following expression links accounting profit to economic profit and normal profit: Equation (4) Accounting profit = Economic profit + Normal profit When accounting profit equals normal profit, economic profit is zero. Further, when accounting profit is greater than normal profit, economic profit is positive; and when accounting profit is less than normal profit, economic profit is negative (the firm has an economic loss ). Economic profit for a firm can originate from sources such as: competitive advantage; exceptional managerial efficiency or skill; difficult to copy technology or innovation (e.g., patents, trademarks, and copyrights); exclusive access to less-expensive inputs; fixed supply of an output, commodity, or resource; preferential treatment under governmental policy; large increases in demand where supply is unable to respond fully over time; exertion of monopoly power (price control) in the market; and market barriers to entry that limit competition. Any of the above factors may lead the firm to have positive net present value investment (NPV) opportunities. Access to positive NPV opportunities and therefore profit in excess of normal profits in the short run may or may not exist in the long run, depending on the potential strength of competition. In highly competitive market situations, firms tend to earn the normal profit level over time because ease of market entry allows for other competing firms to compete away any economic profit over the long run. Economic profit that exists over the long run is usually found where competitive conditions persistently are less than perfect in the market. 2.1.3. Economic Rent The surplus value known as economic rent results when a particular resource or good is fixed in supply (with a vertical su

Flashcard 1439283678476

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Question

Access to [...] in the short run may or may not exist in the long run, depending on the potential strength of competition.

Answer

positive NPV opportunities

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Flashcard 1439286037772

Tags

#cfa #cfa-level-1 #economic-and-normal-profit #economics #microeconomics #reading-15-demand-and-supply-analysis-the-firm #section-2-objectives-of-the-firm #study-session-4

Question

when accounting profit is less than normal profit, economic profit is [...]

Answer

negative (the firm has an economic loss ).

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when accounting profit is less than normal profit, economic profit is negative (the firm has an economic loss ).

Original toplevel document

Flashcard 1439288397068

Tags

#python #sicp

Question

What is the parent of a function value?

Answer

The parent of a function value is the first frame of the environment in which that function was defined.

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Function values each have a new annotation that we will include in environment diagrams from now on, a parent. The parent of a function value is the first frame of the environment in which that function was defined.

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Flashcard 1439291280652

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#python #sicp

Question

When a user-defined function is called, what is the parent of the frame that is created?

Answer

The frame created has the same parent as that function.

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Functions without parent annotations were defined in the global environment. When a user-defined function is called, the frame created has the same parent as that function.

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Flashcard 1439296785676

Tags

#python #sicp

Question

two key advantages of lexical scoping in Python.

Answer

Names for stuff in a local function don't affect names for stuff outside of that function (i.e you can have duplicate names without problems)
A local function can access stuff outside where it was defined because evaluation extends its environment

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two key advantages of lexical scoping in Python. The names of a local function do not interfere with names external to the function in which it is defined, because the local function name will be bound in the current local environme

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Flashcard 1439299144972

Tags

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10 #subject-3-investment-criteria

Question

The net present value of a project is ______.

A. all current revenue minus all current costs
B. the present value of future cash flows minus initial costs
C. the present value of future cash flows netting out those cash flows that occur after the relevant period
D. the present value of future cash flows netting out those cash flows that occur with risk
E. the present value of positive future cash flows

Answer

Correct Answer: B

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dy>NPV measures the dollar benefit of the project to shareholders. However, it does not measure the rate of return of the project, and thus cannot provide "safety margin" information. Safety margin refers to how much the project return could fall in percentage terms before the invested capital is at risk.<body><html>

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Flashcard 1439300979980

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#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10 #subject-3-investment-criteria

Question

Which of the following amounts is closest to the net present value of a project that contributes $5,000 at the end of the first year and $8,000 at the end of the second year? The initial cost is $3,000. The appropriate interest rate is 8% for the first year and 9% for the second year.

A. $8,585
B. $8,426
C. $8,363

Answer

Correct Answer: B

NPV = -3000 + (5000/1.08) + 8000/[(1.08)(1.09)] = $8,425.52

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Flashcard 1439304649996

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#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10 #subject-3-investment-criteria

Question

Tom and Erdal are planning on forming the Top-Torque Company. The company is to specialize in diesel engine rebuilding for extractive industries. The investment cost is expected to be $1.5 million and have after-tax cash flows of $100,000 in year 1, $250,000 in year 2, and $300,000 thereafter indefinitely. The two owners estimate that this is a risky venture and requires a 17% rate of return. What is the value of Top-Torque, and should the investment be made?

A. $57,240; yes
B. $1,557,240; yes
C. -$57,240; no

Answer

Correct Answer: A

NPV = -1,500,000 + 100,000/1.17 + 250,000/1.17² + (300,000/.17)/1.17² = -1,500,000 + 1,557,240.04 = $57,240.04

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Flashcard 1439305174284

Tags

#python #sicp

Question

locally defined functions are often called [...] because they enclose information

Answer

closures

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The sqrt_update function carries with it some data: the value for a referenced in the environment in which it was defined. Because they "enclose" information in this way, locally defined functions are often called closures.

Original toplevel document

1.6 Higher-Order Functions
r than the global environment. A local function can access the environment of the enclosing function, because the body of the local function is evaluated in an environment that extends the evaluation environment in which it was defined. The sqrt_update function carries with it some data: the value for a referenced in the environment in which it was defined. Because they "enclose" information in this way, locally defined functions are often called closures. 1.6.4 Functions as Returned Values Video: Show Hide We can achieve even more expressive power in our programs by creating functions whose returned values are themselves funct

Flashcard 1439308844300

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#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10 #subject-3-investment-criteria

Question

An investment with an initial cost of $16,000 produces cash flows of $5000 annually. If the cash flow is evenly spread out over the year and the firm can borrow at 10%, the payback period is ______ years.

A. 3.20
B. 2.91
C. 3.33

Answer

Correct Answer: A

PP = 16000/5000 = 3.20

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#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10 #subject-3-investment-criteria

Question

An advantage of the payback period rule is that it ______

I. adjusts for uncertainty of early cash flows.
II. discounts cash flows.
III. is simple to use.

Answer

Correct Answer: III only

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Flashcard 1439311203596

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#python #sicp

Question

An important feature of lexically scoped programming languages is that [locally defined functions maintain...environment] when they are returned.

Answer

locally defined functions maintain their parent environment

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An important feature of lexically scoped programming languages is that locally defined functions maintain their parent environment when they are returned.

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1.6 Higher-Order Functions
ocally defined functions are often called closures. 1.6.4 Functions as Returned Values Video: Show Hide We can achieve even more expressive power in our programs by creating functions whose returned values are themselves functions. An important feature of lexically scoped programming languages is that locally defined functions maintain their parent environment when they are returned. The following example illustrates the utility of this feature. Once many simple functions are defined, function composition is a natural method of combination to include in our progr

Flashcard 1439313562892

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#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10 #subject-3-investment-criteria

Question

If an investment project has an internal rate of return equal to its WACC, the NPV for that project is ______.

A. negative
B. positive
C. zero

Answer

Correct Answer: C

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Flashcard 1439316708620

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#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10 #subject-3-investment-criteria

Question

Which of the following best describes the difference between an investment's market value and its cost?

A. Net present value
B. Internal rate of return
C. Payback

Answer

Correct Answer: A

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Flashcard 1439318543628

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#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10 #subject-3-investment-criteria

Question

Which of the following best describes the length of time required for an investment's cash flows to equal its initial cost?

A. Average accounting return
B. Profitability index
C. Payback period

Answer

Correct Answer: C

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Flashcard 1439319067916

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#python #sicp

Question

Why is currying?

Answer

More specifically, given a function f(x, y) , we can define a function g such that g(x)(y) is equivalent to f(x, y) . Here, g is a higher-order function that takes in a single argument x and returns another function that takes in a single argument y. This transformation is currying.

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We can use higher-order functions to convert a function that takes multiple arguments into a chain of functions that each take a single argument. More specifically, given a function f(x, y) , we can define a function g such that g(x)(y) is equivalent to f(x, y) . Here, g is a higher-order function that takes in a single argument x and returns another function that takes in a single argument y . This transformation is called currying.

Original toplevel document

1.6 Higher-Order Functions
d is a powerful general computational method for solving differentiable equations. Very fast algorithms for logarithms and large integer division employ variants of the technique in modern computers. 1.6.6 Currying Video: Show Hide We can use higher-order functions to convert a function that takes multiple arguments into a chain of functions that each take a single argument. More specifically, given a function f(x, y) , we can define a function g such that g(x)(y) is equivalent to f(x, y) . Here, g is a higher-order function that takes in a single argument x and returns another function that takes in a single argument y . This transformation is called currying. As an example, we can define a curried version of the pow function: >>> def curried_pow(x): def h(y): return pow(x, y) return h >>&g

Flashcard 1439321427212

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#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10 #subject-3-investment-criteria

Question

Choose one of the following to best quantify, in dollar terms, how stockholder wealth will be affected by undertaking a project under consideration.

A. The average accounting return
B. Net present value
C. Payback analysis
D. The profitability index
E. The internal rate of return

Answer

Correct Answer: B

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Flashcard 1439323262220

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Question

An investment costs $77,500 and pays $27,500 a year for four years. What is the IRR of this investment?

A. 22.3%
B. 24.4%
C. 15.6%

Answer

Correct Answer: C

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Flashcard 1439325097228

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Question

Michael undertakes an investment with an initial investment of $10,000, and he expects to receive $3,500 a year for the next four years. If the required return is 15%, what is the NPV?

A. $5.49
B. $4.63
C. -$7.58

Answer

Correct Answer: C

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Question

For projects with conventional cash flows and positive discount rates, the payback period will be shorter than the discounted payback period. True or False?

Answer

Correct Answer: True

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Question

When you set NPV equal to zero in calculating a bid price, you are ______

Answer

finding the price at which you expect to create zero wealth for your stockholders.

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Question

What do lamda expressions evaluate to?

Answer

lambda expressions evaluate to unnamed functions with a single return expression

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we can compute a*b + c*d without having to name the subexpressions a*b or c*d , or the full expression. In Python, we can create function values on the fly using lambda expressions, which evaluate to unnamed functions. A lambda expression evaluates to a function that has a single return expression as its body. Assignment and control statements are not allowed.

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1.6 Higher-Order Functions
1.6.7 Lambda Expressions Video: Show Hide So far, each time we have wanted to define a new function, we needed to give it a name. But for other types of expressions, we don't need to associate intermediate values with a name. That is, we can compute a*b + c*d without having to name the subexpressions a*b or c*d , or the full expression. In Python, we can create function values on the fly using lambda expressions, which evaluate to unnamed functions. A lambda expression evaluates to a function that has a single return expression as its body. Assignment and control statements are not allowed. >>> def compose1(f, g): return lambda x: f(g(x)) We can understand the structure of a lambda expression by constructing a corresponding English sentence:

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Question

What is not allowed in a lamba expression? (what type of statements?)

Answer

Assignment and control statements are not allowed.

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b or c*d , or the full expression. In Python, we can create function values on the fly using lambda expressions, which evaluate to unnamed functions. A lambda expression evaluates to a function that has a single return expression as its body. Assignment and control statements are not allowed.<body><html>

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Question

Saline Company is considering investing in a new project. The project will need an initial investment of $1,200,000 and will generate $600,000 (after-tax) cash flows for three years. Calculate the IRR for the project.

A. 14.5%
B. 18.6%
C. 23.4%

Answer

Correct Answer: C

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Question

Which methods do not consider the time value of money?

I. NPV
II. IRR
III. Payback period
IV. Discounted payback period
V. Average accounting rate of return
VI. Profitability index

Answer

Correct Answer: III and V

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Question

Financial managers should accept any projects with a profitability index ______.

A. > 0
B. > 1
C. <= cost of capital for the company

Answer

Correct Answer: B

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Question

How would you translate the following lambda expression into plain english?
lambda x : f(g(x))

Answer

"A function that takes x and returns f(g(x))"

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>>> def compose1 ( f , g ): return lambda x : f ( g ( x )) We can understand the structure of a lambda expression by constructing a corresponding English sentence: lambda x : f(g(x)) "A function that takes x and returns f(g(x))" The result of a lambda expression is called a lambda function. It has no intrinsic name (and so Python prints for the name), but otherwise it behaves like any other function.

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Question

What are the advantages of the average accounting rate of return method?

I. It is easy to understand and simple to use.
II. It considers cash flows, not economic income.
III. It considers the time value of money.
IV. Any sunk costs are excluded from the rate calculation.

Answer

Correct Answer: I only

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Question

You have been asked to evaluate two machines. The benefits from ownership are identical. Machine A costs $150 to buy and install, lasts for 5 years, and costs $80 per year to operate. Machine B costs $250, lasts for 7 years, and costs $60 per year to operate. Both machines have zero salvage value. Assuming that this is a one-time acquisition, which machine do you recommend if the cost of capital is 10%?

A. Machine A, because the PV of its costs is $88.85 less than Machine B.
B. Machine B, because the PV of its costs is $20 less than Machine A.
C. Machine A, even though the PV of its costs is equal to that of Machine B.

Answer

Correct Answer: A

PVA = 150 + 80(3.7908) = 150 + 303.26 = 453.26
PVB = 250 + 60(4.8684) = 250 + 292.10 = 542.10
PVB > PVA

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Question

When might you use a lamda expression instead of a def?

Answer

When a simple function is needed as an argument or return value.

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In general, Python style prefers explicit def statements to lambda expressions, but allows them in cases where a simple function is needed as an argument or return value.

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1.6 Higher-Order Functions
ver, compound lambda expressions are notoriously illegible, despite their brevity. The following definition is correct, but many programmers have trouble understanding it quickly. >>> compose1 = lambda f,g: lambda x: f(g(x)) In general, Python style prefers explicit def statements to lambda expressions, but allows them in cases where a simple function is needed as an argument or return value. Such stylistic rules are merely guidelines; you can program any way you wish. However, as you write programs, think about the audience of people who might read your program one day.

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Question

What are some of the rights and priveliges of first class elements relating to functions? (input and output of functions)

Answer

They may be passed as arguments to functions.
They may be returned as the results of functions.

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Elements with the fewest restrictions are said to have first-class status. Some of the "rights and privileges" of first-class elements are: They may be bound to names. They may be passed as arguments to functions. They may be returned as the results of functions. They may be included in data structures. Python awards functions full first-class status, and the resulting gain in expressive power is enormous.

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1.6 Higher-Order Functions
ns explicitly as elements in our programming language, so that they can be handled just like other computational elements. In general, programming languages impose restrictions on the ways in which computational elements can be manipulated. Elements with the fewest restrictions are said to have first-class status. Some of the "rights and privileges" of first-class elements are: They may be bound to names. They may be passed as arguments to functions. They may be returned as the results of functions. They may be included in data structures. Python awards functions full first-class status, and the resulting gain in expressive power is enormous. 1.6.9 Function Decorators Video: Show Hide Python provides special syntax to apply higher-order functions as part of executing a def statement, called a decorator. Perhaps

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Question

HC Ltd. purchased a machine 4 years ago at a cost of $100,000. The machine had an expected life of 10 years at the time of the purchase and an expected market value of $5,000 at the end of the 10 years. It is being depreciated by the straight-line method toward a salvage value of $25,000; that is, depreciation is $7,500 per year. The machine can be sold now for $25,000. A new machine can be purchased for $150,000 including installation costs. During its 6-year life, it will reduce pre-tax cash operating expenses by $30,000 per year. Sales are not expected to change. At the end of its useful life, this machine is estimated to be worth $50,000. Straight-line depreciation will be used to depreciate the machine to a salvage value of $30,000; that is depreciation is $20,000 per year. The firm's tax rate is 30%. The appropriate discount rate is 13%.

What is the NPV of the investment?

A. $1,892
B. $2,573
C. $3,290

Answer

Correct Answer: C

The initial investment outlay is $111,500. The net operating cash flows are $24,750 (years 1-6) and the total termination cash flow is $33,000 in year 6. The NPV of these cash flows discounted at 13% is $3,290.

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Question

Can a first class element be bound to a name?

Answer

They may be bound to names.

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Can a first class element be included in a data structure?

Answer

They may be included in data structures.

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ions are said to have first-class status. Some of the "rights and privileges" of first-class elements are: They may be bound to names. They may be passed as arguments to functions. They may be returned as the results of functions. They may be included in data structures. Python awards functions full first-class status, and the resulting gain in expressive power is enormous.<body><html>

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Question

Are functions first class in python?

Answer

Python awards functions full first-class status

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ome of the "rights and privileges" of first-class elements are: They may be bound to names. They may be passed as arguments to functions. They may be returned as the results of functions. They may be included in data structures. Python awards functions full first-class status, and the resulting gain in expressive power is enormous.<body><html>

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Question

Th e α helix, illustrated in Figure 1.36, is a [...] adopted by the protein backbone

Answer

right-handed helical structure

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Th e α helix, illustrated in Figure 1.36, is a right-handed helical structure adopted by the protein backbone, which is enforced by the formation of hydrogen bonds between the C=O group of one residue and the NH group of another residue four positions ahead of

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Question

The α helix, is a right-handed helical structure adopted by the protein backbone, which is enforced by the formation of [...] between the C=O group of one residue and the NH group of another residue four positions ahead of it in the chain

Answer

hydrogen bonds

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Question

Th e α helix, illustrated in Figure 1.36, is a right-handed helical structure adopted by the protein backbone, which is enforced by the formation of hydrogen bonds between the [...group of one residue and the ... of another residue] four positions ahead of it in the chain

Answer

C=O group of one residue and the NH group of another residue

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Question

Th e α helix, illustrated in Figure 1.36, is a right-handed helical structure adopted by the protein backbone, which is enforced by the formation of hydrogen bonds between the C=O group of one residue and the NH group of another residue [how many positions? ahead or behind?] in the chain

Answer

four positions ahead of it

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pan>Th e α helix, illustrated in Figure 1.36, is a right-handed helical structure adopted by the protein backbone, which is enforced by the formation of hydrogen bonds between the C=O group of one residue and the NH group of another residue four positions ahead of it in the chain<body><html>

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Annotation 1439376477452

#immex #mexico #octopus

INDUSTRIA MANUFACTURERA, MAQUILADORA Y DE SERVICIO DE EXPORTACIÓN

Ante la voraz competencia por los mercados globales, es fundamental dotar a las empresas mexicanas, al menos, de las mismas condiciones que ofrecen nuestros principales competidores, que le permitan posicionar con éxito sus mercancías y servicios en la arena del comercio internacional.

Con este propósito, el Gobierno Federal publicó el 1 de noviembre de 2006 el Decreto para el Fomento de la Industria Manufacturera, Maquiladora y de Servicios de Exportación (Decreto IMMEX), con el objetivo de fortalecer la competitividad del sector exportador mexicano, y otorgar certidumbre, transparencia y continuidad a las operaciones de las empresas, precisando los factores de cumplimiento y simplificándolos; permitiéndoles adoptar nuevas formas de operar y hacer negocios; disminuir sus costos logísticos y administrativos; modernizar, agilizar y reducir los trámites, con el fin de elevar la capacidad de fiscalización en un entorno que aliente la atracción y retención de inversiones en el país.

Este instrumento integra los programas para el Fomento y Operación de la Industria Maquiladora de Exportación (Maquila) y el que Establece Programas de Importación Temporal para Producir Artículos de Exportación (PITEX), cuyas empresas representan en su conjunto el 85% de las exportaciones manufactureras de México.

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Decreto IMMEX
zo de vigencia de las autorizaciones de ampliación y ampliación subsecuente para importar bajo el Programa IMMEX las mercancías comprendidas en el Anexo II del Decreto IMMEX será de doce meses. De conformidad con la Regla 3.4.7 del Acuerdo, se exceptúa del cumplimiento de los requisitos específicos para la importación temporal de productos sensibles aquellas empresas con Programa IMMEX que exporten la totalidad de su producción. Asimismo, podrán acogerse a este beneficio solamente cuando hayan operado conforme a dichos requisitos por un año.

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Question

Range of alpha helix length (in number of residues?)

Answer

ranging from four or five to over 40 amino acid residues

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α helices vary considerably in length, ranging from four or fi ve to over 40 amino acid residues in globular proteins. Th e average length is around 10 residues, corresponding to three helical turns

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#italian #italian-grammar

Question

In grammatical terms, an object is [...], as opposed to the [...] which is the person or thing responsible for it.

Answer

the person or thing affected by the action or event

subject.

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In grammatical terms, an object is the person or thing affected by the action or event, as opposed to the subject, which is the person or thing responsible for it. See: direct object, indirect object.

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Question

What is the average length of an alpha helix? (in number of residues)

Answer

average length is around 10 residues

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Question

How many helical turns does 10 residues correspond to in an alpha helix?

Answer

three helical turns

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Active construction An active construction is a sentence in which [...] is the person carrying out the action, or the event taking place.

Answer

the subject of the sentence

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Active construction An active construction is a sentence in which the subject of the sentence is the person carrying out the action, or the event taking place (as opposed to a passive construction where the subject is the person affected by the action): mio marito fuma troppo ‘m

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Question

What is more common in nature, mixed or homogenous Beta Sheets?

Answer

There is a strong bias in nature against mixed β sheets

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β strands can also combine into mixed β sheets with some β-strand pairs paral- lel and some antiparallel. Th ere appears, however, to be a strong bias in nature against mixed β sheets. Finally, the plane of almost all β sheets is itself twisted. Th is twist is always right-handed, as shown in Figure 1.39

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Question

You will always face far more knowledge that you will be able to master. That is why [...] is critical for building quality knowledge in the long-term.

Answer

prioritizing

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You will always face far more knowledge that you will be able to master. That is why prioritizing is critical for building quality knowledge in the long-term. The way you prioritize will affect the way your knowledge slots in. This will also affect the speed of learning (e.g. see: l

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20. Prioritize
You will always face far more knowledge that you will be able to master. That is why prioritizing is critical for building quality knowledge in the long-term. The way you prioritize will affect the way your knowledge slots in. This will also affect the speed of learning (e.g. see: learn basics first). There are many stages at which prioritizing will take place; only few are relevant to knowledge representation, but all are important: Prioritizing sources - there will al

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Question

What is a mixed Beta Sheet?

Answer

mixed β sheets have some β-strand pairs parallel and some antiparallel instead of all being parallel

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What is the twist of the Beta Sheet's plane? (right or left handed?)

Answer

twist is always right-handed

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also combine into mixed β sheets with some β-strand pairs paral- lel and some antiparallel. Th ere appears, however, to be a strong bias in nature against mixed β sheets. Finally, the plane of almost all β sheets is itself twisted. Th is twist is always right-handed, as shown in Figure 1.39<body><html>

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Question

The tRNAs are recognized specifically by enzymes known as [...] that link the appropriate amino acid to the tRNA that contains the triplet anticodon for that amino acid.

Answer

aminoacyl-tRNA synthetases

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Th e tRNAs are recognized specifi cally by enzymes known as aminoacyl-tRNA synthetases that link the appropriate amino acid to the tRNA that contains the triplet anticodon for that amino acid: the tRNA is then said to be charged

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Question

All the hippocampus needs is [...] to push that data into short-term memory and it's ready again for more.

Answer

a few minutes of processing

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All the hippocampus needs is a few minutes of processing to push that data into short-term memory and it's ready again for more. I now build all my learning events in chunks of 15 minutes of information followed by a processing activity, such

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r learning products. The brain structures that are involved in learning include the hippocampus, the amygdala, and the basal ganglia. To design the best learning experiences, we need to understand and respect the neuroscience of learning. Tip #2: Focus is the starting point of learning The hippocampus is the part of the brain that takes in information and moves it to our memory. When it's damaged, people lose access to past memories and no longer can make new ones. The hippocampus acts like a recorder or data drive; like those devices, it has an "on" button. Physiologically, it's when our eyes and ears attune to something that causes the hippocampus to begin recording. Richard Davidson, from the University of Wisconsin, calls this "phase locking" and it's the starting point of all learning. As a result, we must design our learning environments to help people focus and we must bust the myth that you can multitask while learning. Research has proved that when we divide our attention, our focus switches back and forth between the two activities, also known as switch tasking. The hippocampus loses vital pieces of information for both of the things we were trying to attend to. I call this "Swiss tasking" because we end up with holes in the data the hippocampus was capturing and, therefore, holes in our learning that cannot be recovered. Here is the big shocker about the hippocampus: It can only hold so much information before it must be processed and pushed into short-term memory. Studies show that the maximum amount is about 20 minutes of information. Lecture-style sessions never have demonstrated good results for retention, and now we know why—it works against the brain's natural functioning. The good news is that many other learning activities can help. All the hippocampus needs is a few minutes of processing to push that data into short-term memory and it's ready again for more. I now build all my learning events in chunks of 15 min

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Question

Th e tRNAs are recognized specifi cally by enzymes known as aminoacyl-tRNA synthetases that link the appropriate amino acid to the tRNA that contains the triplet anticodon for that amino acid: the tRNA is then said to be [...]

Answer

charged

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Question

I now build all my learning events in [...] of information followed by a processing activity, such as a dyad discussion, a period of reflection, an experiential activity, or even a break.

Answer

chunks of 15 minutes

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#matlab #programming

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A statement that is too long to fit on one line may be continued to the next line with an [...]

Answer

ellipsis of at least three dots

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A statement that is too long to fit on one line may be continued to the next line with an ellipsis of at least three dots

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Question

A function is called [...] if the body of the function calls the function itself, either directly or indirectly

Answer

recursive

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A function is called recursive if the body of the function calls the function itself, either directly or indirectly

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1.7 Recursive Functions
1.7.1 The Anatomy of Recursive Functions 1.7.2 Mutual Recursion 1.7.3 Printing in Recursive Functions 1.7.4 Tree Recursion 1.7.5 Example: Partitions 1.7 Recursive Functions Video: Show Hide A function is called recursive if the body of the function calls the function itself, either directly or indirectly. That is, the process of executing the body of a recursive function may in turn require applying that function again. Recursive functions do not use any special syntax in Python, but t

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Question

it is often clearer to think about recursive calls as [a kind of abstraction].

Answer

functional abstractions

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it is often clearer to think about recursive calls as functional abstractions.

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1.7 Recursive Functions
the standard definition of the mathematical function for factorial: (n−1)!n!n!=(n−1)⋅(n−2)⋅⋯⋅1=n⋅(n−1)⋅(n−2)⋅⋯⋅1=n⋅(n−1)!(n−1)!=(n−1)⋅(n−2)⋅⋯⋅1n!=n⋅(n−1)⋅(n−2)⋅⋯⋅1n!=n⋅(n−1)! While we can unwind the recursion using our model of computation, it is often clearer to think about recursive calls as functional abstractions. That is, we should not care about how fact(n-1) is implemented in the body of fact ; we should simply trust that it computes the factorial of n-1 . Treating a recursive call as a

Annotation 1439420517644

#rules-of-formulating-knowledge

Knowledge can be relatively stable (basic math, anatomy, taxonomy, physical geography, etc.) and highly volatile (economic indicators, high-tech knowledge, personal statistics, etc.). It is important that you provide your items with time stamping or other tags indicating the degree of obsolescence.

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19. Provide date stamping
Knowledge can be relatively stable (basic math, anatomy, taxonomy, physical geography, etc.) and highly volatile (economic indicators, high-tech knowledge, personal statistics, etc.). It is important that you provide your items with time stamping or other tags indicating the degree of obsolescence. In case of statistical figures, you might stamp them with the year they have been collected. When learning software applications, it is enough you stamp the item with the software versi

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Question

Treating a recursive call as a functional abstraction has been called a [...].

Answer

recursive leap of faith

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Treating a recursive call as a functional abstraction has been called a recursive leap of faith. We define a function in terms of itself, but simply trust that the simpler cases will work correctly when verifying the correctness of the function.

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1.7 Recursive Functions
putation, it is often clearer to think about recursive calls as functional abstractions. That is, we should not care about how fact(n-1) is implemented in the body of fact ; we should simply trust that it computes the factorial of n-1 . Treating a recursive call as a functional abstraction has been called a recursive leap of faith. We define a function in terms of itself, but simply trust that the simpler cases will work correctly when verifying the correctness of the function. In this example, we trust that fact(n-1) will correctly compute (n-1)! ; we must only check that n! is computed correctly if this assumption holds. In this way, verifying the corre

Annotation 1439424449804

#rules-of-formulating-knowledge

Date stamping is useful in editing and verifying your knowledge; however, you will rarely want to memorize stamping itself. If you would like to remember the changes of a given figure in time (e.g. GNP figures over a number of years), the date stamping becomes the learned knowledge itself.

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19. Provide date stamping
. When learning software applications, it is enough you stamp the item with the software version. Once you have newer figures you can update your items. Unfortunately, in most cases you will have to re-memorize knowledge that became outdated. Date stamping is useful in editing and verifying your knowledge; however, you will rarely want to memorize stamping itself. If you would like to remember the changes of a given figure in time (e.g. GNP figures over a number of years), the date stamping becomes the learned knowledge itself. <body><html>

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Question

Recursive functions leverage the rules of [...] to [...], often avoiding the nuisance of [...] during iteration.

Answer

evaluating call expressions, bind names to values, correctly assigning local names

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Recursive functions leverage the rules of evaluating call expressions to bind names to values, often avoiding the nuisance of correctly assigning local names during iteration. For this reason, recursive functions can be easier to define correctly. However

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1.7 Recursive Functions
. The state of the computation is entirely contained within the structure of the environment, which has return values that take the role of total , and binds n to different values in different frames rather than explicitly tracking k . Recursive functions leverage the rules of evaluating call expressions to bind names to values, often avoiding the nuisance of correctly assigning local names during iteration. For this reason, recursive functions can be easier to define correctly. However, learning to recognize the computational processes evolved by recursive functions certainly requires practice. 1.7.2 Mutual Recursion Video: Show Hide When a recursive procedure is divided among two functions that call each other, the functions are said to be mutually recursive. As an

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#blue-apron #citychef

Question

while the company did make its packaging more eco-friendly, it has also instituted a [...]

Answer

box-return program.

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while the company did make its packaging more eco-friendly, it has also instituted a box-return program.

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Unknown title
n the kitchen at La Marina in Forbes video here.] Blue Apron is attempting to tackle those issues. More meal options are coming in the next few months, Salzberg says, and customers who make a fuss can cancel delivery at the last minute. And while the company did make its packaging more eco-friendly, it has also instituted a box-return program. And it's adding new services, too. In September it announced a program to sell wine pairings for its meals. "If half of our customers subscribed to wine, we'd be the largest wine

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#python #sicp

Question

When a recursive procedure is divided among two functions that call each other, the functions are said to be [...].

Answer

mutually recursive

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When a recursive procedure is divided among two functions that call each other, the functions are said to be mutually recursive.

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1.7 Recursive Functions
For this reason, recursive functions can be easier to define correctly. However, learning to recognize the computational processes evolved by recursive functions certainly requires practice. 1.7.2 Mutual Recursion Video: Show Hide When a recursive procedure is divided among two functions that call each other, the functions are said to be mutually recursive. As an example, consider the following definition of even and odd for non-negative integers: a number is even if it is one more than an odd number a number is odd if it is one more tha

Annotation 1439433886988

#rules-of-formulating-knowledge

Redundancy does not have to contradict the minimum information principle and may even be welcome.

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17. Redundancy does not contradict minimum information principle
Redundancy in simple terms is more information than needed or duplicate information, etc. Redundancy does not have to contradict the minimum information principle and may even be welcome. The problem of redundancy is too wide for this short text. Here are some examples that are only to illustrate that minimum information principle cannot be understood as minimum number o

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Question

Why might you write a test even before writing the code?

Answer

in order to have some example inputs and outputs in your mind

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The key to effective testing is to write (and run) tests immediately after implementing new functions. It is even good practice to write some tests before you implement, in order to have some example inputs and outputs in your mind. A test that applies a single function is called a unit test. Exhaustive unit testing is a hallmark of good program design.

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1.5 Control
cted result, the run_docstring_examples function will report this problem as a test failure. When writing Python in files, all doctests in a file can be run by starting Python with the doctest command line option: python3 -m doctest The key to effective testing is to write (and run) tests immediately after implementing new functions. It is even good practice to write some tests before you implement, in order to have some example inputs and outputs in your mind. A test that applies a single function is called a unit test. Exhaustive unit testing is a hallmark of good program design. Continue: 1.6 Higher-Order Functions Composing Programs by John DeNero, based on the textbook Structure and

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#rules-of-formulating-knowledge

minimum information principle cannot be understood as minimum number of characters or bits in your collections or even items

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17. Redundancy does not contradict minimum information principle
r duplicate information, etc. Redundancy does not have to contradict the minimum information principle and may even be welcome. The problem of redundancy is too wide for this short text. Here are some examples that are only to illustrate that minimum information principle cannot be understood as minimum number of characters or bits in your collections or even items: passive and active approach : if you learn a foreign language, e.g. Esperanto, you will often build word pairs such as phone-telefono, language-lingvo, hope-esperanto, etc

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Question

What is a unit test?

Answer

A test that applies a single function

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pan>The key to effective testing is to write (and run) tests immediately after implementing new functions. It is even good practice to write some tests before you implement, in order to have some example inputs and outputs in your mind. A test that applies a single function is called a unit test. Exhaustive unit testing is a hallmark of good program design.<body><html>

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Annotation 1439441751308

#rules-of-formulating-knowledge

reasoning cues: you will often want to boost your reasoning ability by asking about a solution to the problem. Instead of just memorizing the answer you would like to quickly follow the reasoning steps (e.g. solve a simple mathematical equation) and generate the answer. In such a case, providing the hint on the reasoning steps in the answer will only serve helping you always follow the right path at repetitions

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17. Redundancy does not contradict minimum information principle
ct the minimum information principle! Your items are still as simple as possible. You just get more of them In SuperMemo 2000/2002, you can quickly generate swapped word-pair items with Duplicate (Ctrl+Alt+D) and Swap (Ctrl+Shift+S) reasoning cues : you will often want to boost your reasoning ability by asking about a solution to the problem. Instead of just memorizing the answer you would like to quickly follow the reasoning steps (e.g. solve a simple mathematical equation) and generate the answer. In such a case, providing the hint on the reasoning steps in the answer will only serve helping you always follow the right path at repetitions derivation steps : in more complex problems to solve, memorizing individual derivation steps is always highly recommended (e.g. solving complex mathematical problems). It is not crammin

Annotation 1439443324172

#rules-of-formulating-knowledge

derivation steps: in more complex problems to solve, memorizing individual derivation steps is always highly recommended (e.g. solving complex mathematical problems). It is not cramming! It is making sure that the brain can always follow the fastest path while solving the problem. For more on boosting creativity and intelligence read: Roots of genius and creativity, as well as more specific: Derivation, reasoning and intelligence

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17. Redundancy does not contradict minimum information principle
ly follow the reasoning steps (e.g. solve a simple mathematical equation) and generate the answer. In such a case, providing the hint on the reasoning steps in the answer will only serve helping you always follow the right path at repetitions derivation steps : in more complex problems to solve, memorizing individual derivation steps is always highly recommended (e.g. solving complex mathematical problems). It is not cramming! It is making sure that the brain can always follow the fastest path while solving the problem. For more on boosting creativity and intelligence read: Roots of genius and creativity, as well as more specific: Derivation, reasoning and intelligence multiple semantic representation : very often the same knowledge can be represented and viewed from different angles. Memorizing different representations of the same fact or rule is re

Annotation 1439445421324

#rules-of-formulating-knowledge

multiple semantic representation: very often the same knowledge can be represented and viewed from different angles. Memorizing different representations of the same fact or rule is recommended in cases where a given memory is of high value.

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17. Redundancy does not contradict minimum information principle
s making sure that the brain can always follow the fastest path while solving the problem. For more on boosting creativity and intelligence read: Roots of genius and creativity, as well as more specific: Derivation, reasoning and intelligence multiple semantic representation : very often the same knowledge can be represented and viewed from different angles. Memorizing different representations of the same fact or rule is recommended in cases where a given memory is of high value. This will increase the expected recall rate (beyond that specified with the forgetting index)! flexible repetition : if there are many valid responses to the same question make sure tha

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Question

This discipline of sharing names among nested definitions is called [...]. Critically, the inner functions have access to the names in the environment where they are defined (not where they are called).

Answer

lexical scoping

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This discipline of sharing names among nested definitions is called lexical scoping. Critically, the inner functions have access to the names in the environment where they are defined (not where they are called).

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1.6 Higher-Order Functions
ed. Lexical scope. Locally defined functions also have access to the name bindings in the scope in which they are defined. In this example, sqrt_update refers to the name a , which is a formal parameter of its enclosing function sqrt . This discipline of sharing names among nested definitions is called lexical scoping. Critically, the inner functions have access to the names in the environment where they are defined (not where they are called). We require two extensions to our environment model to enable lexical scoping. Each user-defined function has a parent environment: the environment in which it was defined. When a us

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Question

What has to be added to the environment model to enable lexical scoping?

Answer

We require two extensions to our environment model to enable lexical scoping.

A parent environment: the environment in which the local function was defined.
When a user-defined function is called, its local frame extends its parent environment.

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We require two extensions to our environment model to enable lexical scoping. Each user-defined function has a parent environment: the environment in which it was defined. When a user-defined function is called, its local frame extends its parent environment.

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1.6 Higher-Order Functions
enclosing function sqrt . This discipline of sharing names among nested definitions is called lexical scoping. Critically, the inner functions have access to the names in the environment where they are defined (not where they are called). We require two extensions to our environment model to enable lexical scoping. Each user-defined function has a parent environment: the environment in which it was defined. When a user-defined function is called, its local frame extends its parent environment. Previous to sqrt , all functions were defined in the global environment, and so they all had the same parent: the global environment. By contrast, when Python evaluates the first tw

Annotation 1439450926348

#immex #mexico #octopus

el Gobierno Federal publicó el 1 de noviembre de 2006 el Decreto para el Fomento de la Industria Manufacturera, Maquiladora y de Servicios de Exportación (Decreto IMMEX), con el objetivo de fortalecer la competitividad del sector exportador mexicano, y otorgar certidumbre, transparencia y continuidad a las operaciones de las empresas, precisando los factores de cumplimiento y simplificándolos; permitiéndoles adoptar nuevas formas de operar y hacer negocios; disminuir sus costos logísticos y administrativos; modernizar, agilizar y reducir los trámites, con el fin de elevar la capacidad de fiscalización en un entorno que aliente la atracción y retención de inversiones en el país

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las empresas mexicanas, al menos, de las mismas condiciones que ofrecen nuestros principales competidores, que le permitan posicionar con éxito sus mercancías y servicios en la arena del comercio internacional. Con este propósito, el Gobierno Federal publicó el 1 de noviembre de 2006 el Decreto para el Fomento de la Industria Manufacturera, Maquiladora y de Servicios de Exportación (Decreto IMMEX), con el objetivo de fortalecer la competitividad del sector exportador mexicano, y otorgar certidumbre, transparencia y continuidad a las operaciones de las empresas, precisando los factores de cumplimiento y simplificándolos; permitiéndoles adoptar nuevas formas de operar y hacer negocios; disminuir sus costos logísticos y administrativos; modernizar, agilizar y reducir los trámites, con el fin de elevar la capacidad de fiscalización en un entorno que aliente la atracción y retención de inversiones en el país. Este instrumento integra los programas para el Fomento y Operación de la Industria Maquiladora de Exportación (Maquila) y el que Establece Programas de Importación Temporal

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Decreto IMMEX
INDUSTRIA MANUFACTURERA, MAQUILADORA Y DE SERVICIO DE EXPORTACIÓN Ante la voraz competencia por los mercados globales, es fundamental dotar a las empresas mexicanas, al menos, de las mismas condiciones que ofrecen nuestros principales competidores, que le permitan posicionar con éxito sus mercancías y servicios en la arena del comercio internacional. Con este propósito, el Gobierno Federal publicó el 1 de noviembre de 2006 el Decreto para el Fomento de la Industria Manufacturera, Maquiladora y de Servicios de Exportación (Decreto IMMEX), con el objetivo de fortalecer la competitividad del sector exportador mexicano, y otorgar certidumbre, transparencia y continuidad a las operaciones de las empresas, precisando los factores de cumplimiento y simplificándolos; permitiéndoles adoptar nuevas formas de operar y hacer negocios; disminuir sus costos logísticos y administrativos; modernizar, agilizar y reducir los trámites, con el fin de elevar la capacidad de fiscalización en un entorno que aliente la atracción y retención de inversiones en el país. Este instrumento integra los programas para el Fomento y Operación de la Industria Maquiladora de Exportación (Maquila) y el que Establece Programas de Importación Temporal para Producir Artículos de Exportación (PITEX), cuyas empresas representan en su conjunto el 85% de las exportaciones manufactureras de México. ASPECTOS GENERALES Definición: El Programa IMMEX es un instrumento mediante el cual se permite importar temporalmente los bienes necesarios para ser util

Annotation 1439452499212

#immex #mexico #octopus

Este instrumento integra los programas para el Fomento y Operación de la Industria Maquiladora de Exportación (Maquila) y el que Establece Programas de Importación Temporal para Producir Artículos de Exportación (PITEX), cuyas empresas representan en su conjunto el 85% de las exportaciones manufactureras de México.

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INDUSTRIA MANUFACTURERA, MAQUILADORA Y DE SERVICIO DE EXPORTACIÓN Ante la voraz competencia por los mercados globales, es fundamental dotar a las empresas mexicanas, al menos, de las mismas condiciones que ofrecen nuestros principales competidores, qu

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#python #sicp

Question

We can think of a tree-recursive function as [exploring what?].

Answer

exploring different possibilities

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We can think of a tree-recursive function as exploring different possibilities.

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1.7 Recursive Functions
-m, m) + count_partitions(n, m-1) >>> count_partitions(6, 4) 9 >>> count_partitions(5, 5) 7 >>> count_partitions(10, 10) 42 >>> count_partitions(15, 15) 176 >>> count_partitions(20, 20) 627 We can think of a tree-recursive function as exploring different possibilities. In this case, we explore the possibility that we use a part of size m and the possibility that we do not. The first and second recursive calls correspond to these possibilities. Im

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Question

A function with multiple recursive calls is said to be [...]

Answer

tree recursive

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A function with multiple recursive calls is said to be tree recursive because each call branches into multiple smaller calls, each of which branches into yet smaller calls, just as the branches of a tree become smaller but more numerous as they extend fro

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1.7 Recursive Functions
Global This recursive definition is tremendously appealing relative to our previous attempts: it exactly mirrors the familiar definition of Fibonacci numbers. A function with multiple recursive calls is said to be tree recursive because each call branches into multiple smaller calls, each of which branches into yet smaller calls, just as the branches of a tree become smaller but more numerous as they extend from the trunk. We were already able to define a function to compute Fibonacci numbers without tree recursion. In fact, our previous attempts were more efficient, a topic discussed later in the text.

Flashcard 1439459839244

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#deeplearning #protein #proteomics #research

Question

^[...] developed a DSSP algorithm to classify secondary structure into 8 fine-grained states.

Answer

Sander¹⁴

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#deeplearning #protein #proteomics #research

Question

Sander¹⁴ developed a DSSP algorithm to classify SS into 8 fine-grained states. In particular, DSSP assigns [...] types for helix, [...] types for strand, and [...] types for coil

Answer

3, 2, 3

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Sander 14 developed a DSSP algorithm to classify SS into 8 fine-grained states. In particular, DSSP assigns 3 types for helix (G for 3 10 helix, H for alpha-helix, and I for pi-helix), 2 types for strand (E for beta-strand and B for beta-bridge), and 3 types for coil (T for beta-turn, S for hi

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Flashcard 1439466917132

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#deeplearning #protein #proteomics #research

Question

What are the two types of strands that DSSP diffierntiates?

Answer

E for beta-strand and B for beta-bridge

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html>Sander 14 developed a DSSP algorithm to classify SS into 8 fine-grained states. In particular, DSSP assigns 3 types for helix (G for 3 10 helix, H for alpha-helix, and I for pi-helix), 2 types for strand (E for beta-strand and B for beta-bridge), and 3 types for coil (T for beta-turn, S for high curvature loop, and L for irregular).<html>

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Question

What is run_docstring_examples fuction used for?

Answer

To verify the doctest interactions for only a single function

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To verify the doctest interactions for only a single function, we use a doctest function called run_docstring_examples . This function is (unfortunately) a bit complicated to call. Its first argument is the function to test. The second should always be the result of the expression globals() , a built-in

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1.5 Control
the globals function returns a representation of the global environment, which the interpreter needs in order to evaluate expressions. >>> from doctest import testmod >>> testmod() TestResults(failed=0, attempted=2) To verify the doctest interactions for only a single function, we use a doctest function called run_docstring_examples . This function is (unfortunately) a bit complicated to call. Its first argument is the function to test. The second should always be the result of the expression globals() , a built-in function that returns the global environment. The third argument is True to indicate that we would like "verbose" output: a catalog of all tests run. >>> from doctest import run_docstring_examples >>> run_docstring_examples(sum_naturals, globals(), True) Finding tests in NoName Trying: sum_naturals(10) Expecti

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Question

What does globals() do?

Answer

a built-in function that returns the global environment

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e function, we use a doctest function called run_docstring_examples . This function is (unfortunately) a bit complicated to call. Its first argument is the function to test. The second should always be the result of the expression globals() , a built-in function that returns the global environment. The third argument is True to indicate that we would like "verbose" output: a catalog of all tests run.<body><html>

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Question

What might you include in a docstring?

Answer

The first line of a docstring should contain a one-line description of the function, followed by a blank line.
A detailed description of arguments and behavior may follow.
In addition, the docstring may include a sample interactive session that calls the function

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Doctests. Python provides a convenient method for placing simple tests directly in the docstring of a function. The first line of a docstring should contain a one-line description of the function, followed by a blank line. A detailed description of arguments and behavior may follow. In addition, the docstring may include a sample interactive session that calls the function:

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assert fib(50) == 7778742049, 'Error at the 50th Fibonacci number' When writing Python in files, rather than directly into the interpreter, tests are typically written in the same file or a neighboring file with the suffix _test.py . Doctests. Python provides a convenient method for placing simple tests directly in the docstring of a function. The first line of a docstring should contain a one-line description of the function, followed by a blank line. A detailed description of arguments and behavior may follow. In addition, the docstring may include a sample interactive session that calls the function: >>> def sum_naturals(n): """Return the sum of the first n natural numbers. >>> sum_naturals(10) 55 >>> sum_n

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Question

Where are tests normally written?

Answer

Rather than directly into the interpreter, tests are typically written in the same file or a neighboring file with the suffix _test.py .

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When writing Python in files, rather than directly into the interpreter, tests are typically written in the same file or a neighboring file with the suffix _test.py .

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>>> def fib_test(): assert fib(2) == 1, 'The 2nd Fibonacci number should be 1' assert fib(3) == 1, 'The 3rd Fibonacci number should be 1' assert fib(50) == 7778742049, 'Error at the 50th Fibonacci number' When writing Python in files, rather than directly into the interpreter, tests are typically written in the same file or a neighboring file with the suffix _test.py . Doctests. Python provides a convenient method for placing simple tests directly in the docstring of a function. The first line of a docstring should contain a one-line description of

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Question

What happens when an assert statement evalutes to true? False?

Answer

When the expression being asserted evaluates to a true value, executing an assert statement has no effect. When it is a false value, assert causes an error that halts execution.

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When the expression being asserted evaluates to a true value, executing an assert statement has no effect. When it is a false value, assert causes an error that halts execution.

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followed by a quoted line of text (single or double quotes are both fine, but be consistent) that will be displayed if the expression evaluates to a false value. >>> assert fib(8) == 13, 'The 8th Fibonacci number should be 13' When the expression being asserted evaluates to a true value, executing an assert statement has no effect. When it is a false value, assert causes an error that halts execution. A test function for fib should test several arguments, including extreme values of n . >>> def fib_test(): assert fib(2) == 1, 'The 2nd Fibonacci number should b

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Question

What are assert statements used for?

Answer

Programmers use assert statements to verify expectations, such as the output of a function being tested.

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Assertions. Programmers use assert statements to verify expectations, such as the output of a function being tested. An assert statement has an expression in a boolean context, followed by a quoted line of text (single or double quotes are both fine, but be consistent) that will be displayed if the ex

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most functions, which are meant to be general, tests involve selecting and validating calls with specific argument values. Tests also serve as documentation: they demonstrate how to call a function and what argument values are appropriate. Assertions. Programmers use assert statements to verify expectations, such as the output of a function being tested. An assert statement has an expression in a boolean context, followed by a quoted line of text (single or double quotes are both fine, but be consistent) that will be displayed if the expression evaluates to a false value. >>> assert fib(8) == 13, 'The 8th Fibonacci number should be 13' When the expression being asserted evaluates to a true value, executing an assert statement has no effect

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Question

What does an assert statement consist of? (two things)

Answer

An assert statement has

an expression in a boolean context
followed by a quoted line of text (single or double quotes are both fine, but be consistent) that will be displayed if the expression evaluates to a false value.

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Question

Tests typically take the form of [...].

Answer

another function that contains one or more sample calls to the function being tested

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Tests typically take the form of another function that contains one or more sample calls to the function being tested. The returned value is then verified against an expected result. Unlike most functions, which are meant to be general, tests involve selecting and validating calls with specific argumen

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of verifying that the function's behavior matches expectations. Our language of functions is now sufficiently complex that we need to start testing our implementations. A test is a mechanism for systematically performing this verification. Tests typically take the form of another function that contains one or more sample calls to the function being tested. The returned value is then verified against an expected result. Unlike most functions, which are meant to be general, tests involve selecting and validating calls with specific argument values. Tests also serve as documentation: they demonstrate how to call a function and what argument values are appropriate. Assertions. Programmers use assert statements to verify expectations, such as the output of a function being tested. An assert statement has an expression in a boolean context,

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Question

[...] a function is the act of verifying that the function's behavior matches expectations.

Answer

Testing

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Testing a function is the act of verifying that the function's behavior matches expectations.

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clause from being executed indefinitely, the suite should always change some binding in each pass. A while statement that does not terminate is called an infinite loop. Press -C to force Python to stop looping. 1.5.6 Testing Testing a function is the act of verifying that the function's behavior matches expectations. Our language of functions is now sufficiently complex that we need to start testing our implementations. A test is a mechanism for systematically performing this verification. Tests

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Question

Functions that perform comparisons and return boolean values typically begin with [...]

Answer

is , not followed by an underscore (e.g., isfinite , isdigit , isinstance , etc.).

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Functions that perform comparisons and return boolean values typically begin with is , not followed by an underscore (e.g., isfinite , isdigit , isinstance , etc.).

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ession . To evaluate the expression not : Evaluate ; The value is True if the result is a false value, and False otherwise. These values, rules, and operators provide us with a way to combine the results of comparisons. Functions that perform comparisons and return boolean values typically begin with is , not followed by an underscore (e.g., isfinite , isdigit , isinstance , etc.). 1.5.5 Iteration Video: Show Hide In addition to selecting which statements to execute, control statements are used to express repetition. If each line of code we wrote were o

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Question

What is short-circuiting?

Answer

the fact that the truth value of a logical expression can sometimes be determined without evaluating all of its subexpressions

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Logical expressions have corresponding evaluation procedures. These procedures exploit the fact that the truth value of a logical expression can sometimes be determined without evaluating all of its subexpressions, a feature called short-circuiting.

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( == ), a convention shared across many programming languages. Boolean operators . Three basic logical operators are also built into Python: >>> True and False False >>> True or False True >>> not False True Logical expressions have corresponding evaluation procedures. These procedures exploit the fact that the truth value of a logical expression can sometimes be determined without evaluating all of its subexpressions, a feature called short-circuiting. To evaluate the expression and : Evaluate the subexpression . If the result is a false value v , then the expression evaluates to v . Otherwise, the expression evaluates to t

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Question

Only some built-in kinds of data in Python have both true and false values, (True or False?)

Answer

False, all built-in data have T/F values

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every built-in kind of data in Python has both true and false values.

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ues matter to control flow, but otherwise their values are not assigned or returned. Python includes several false values, including 0, None , and the boolean value False . All other numbers are true values. In Chapter 2, we will see that every built-in kind of data in Python has both true and false values. Boolean values . Python has two boolean values, called True and False . Boolean values represent truth values in logical expressions. The built-in comparison operations, >, &l

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Question

What does it mean for an expression to be in a boolean context?

Answer

their truth values matter to control flow, but otherwise their values are not assigned or returned.

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<head>Boolean contexts . Above, the execution procedures mention "a false value" and "a true value." The expressions inside the header statements of conditional blocks are said to be in boolean contexts: their truth values matter to control flow, but otherwise their values are not assigned or returned.<html>

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true value, execute the suite. Then, skip over all subsequent clauses in the conditional statement. If the else clause is reached (which only happens if all if and elif expressions evaluate to false values), its suite is executed. Boolean contexts . Above, the execution procedures mention "a false value" and "a true value." The expressions inside the header statements of conditional blocks are said to be in boolean contexts: their truth values matter to control flow, but otherwise their values are not assigned or returned. Python includes several false values, including 0, None , and the boolean value False . All other numbers are true values. In Chapter 2, we will see that every built-in kind of data

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Question

How does local assignment make complex expressions easier to understand?

Answer

by assigning names to intermediate quantities.

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ssignment hasn't increased the expressive power of our function definitions. It will do so, when combined with other control statements. In addition, local assignment also plays a critical role in clarifying the meaning of complex expressions by assigning names to intermediate quantities.<body><html>

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ence function could be written as a single expression, as shown below, but the return expression is more complex. >>> def percent_difference(x, y): return 100 * abs(x-y) / x >>> percent_difference(40, 50) 25.0 So far, local assignment hasn't increased the expressive power of our function definitions. It will do so, when combined with other control statements. In addition, local assignment also plays a critical role in clarifying the meaning of complex expressions by assigning names to intermediate quantities. 1.5.4 Conditional Statements Video: Show Hide Python has a built-in function for computing absolute values. >>> abs(-2) 2 We would like to be able to implement

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Question

What is the effect of an assignment statement?

Answer

The effect of an assignment statement is to bind a name to a value in the first frame of the current environment

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The effect of an assignment statement is to bind a name to a value in the first frame of the current environment. As a consequence, assignment statements within a function body cannot affect the global frame. The fact that functions can only manipulate their local environment is critical to creati

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put: Global percent_difference result 25.0 percent_difference x 40 y 50 difference 10 Returnvalue 25.0 func percent_difference(x, y) The effect of an assignment statement is to bind a name to a value in the first frame of the current environment. As a consequence, assignment statements within a function body cannot affect the global frame. The fact that functions can only manipulate their local environment is critical to creating modular programs, in which pure functions interact only via the values they take and return. Of course, the percent_difference function could be written as a single expression, as shown below, but the return expression is more complex. >>> def percent_difference(

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Question

Can assigment statements within a function body affect the global frame?

Answer

assignment statements within a function body cannot affect the global frame

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Question

What are modular programs?

Answer

programs, in which pure functions interact only via the values they take and return.

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in the first frame of the current environment. As a consequence, assignment statements within a function body cannot affect the global frame. The fact that functions can only manipulate their local environment is critical to creating modular programs, in which pure functions interact only via the values they take and return.<body><html>

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Question

What is a globular protein

Answer

a water-soluble protein with a compact folded state.

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a globular protein—that is, a water-soluble protein with a compact folded state.

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Question

Who solved the myoglobin structure?

Answer

John Kendrew

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John Kendrew, who solved the myoglobin structure

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Question

What is the essential structure of a recursively defined sequence?

Answer

a sequence can be decomposed into its first element and the rest of its elements.

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This definition exposes the essential structure of a recursively defined sequence: a sequence can be decomposed into its first element and the rest of its elements.

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e can also understand multi-line programs now. To execute a sequence of statements, execute the first statement. If that statement does not redirect control, then proceed to execute the rest of the sequence of statements, if any remain. This definition exposes the essential structure of a recursively defined sequence: a sequence can be decomposed into its first element and the rest of its elements. The "rest" of a sequence of statements is itself a sequence of statements! Thus, we can recursively apply this execution rule. This view of sequences as recursive data struct

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Question

What does the header control?

Answer

We say that the header controls its suite.

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Specialized evaluation rules for each kind of header dictate when and if the statements in its suite are executed. We say that the header controls its suite.

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ents we have already introduced in these terms. Expressions, return statements, and assignment statements are simple statements. A def statement is a compound statement. The suite that follows the def header defines the function body. Specialized evaluation rules for each kind of header dictate when and if the statements in its suite are executed. We say that the header controls its suite. For example, in the case of def statements, we saw that the return expression is not evaluated immediately, but instead stored for later use when the defined function is eventually ca

Annotation 1439526685964

Python code is a sequence of statements.

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ver, much of the interesting work of computation comes from evaluating expressions. Statements govern the relationship among different expressions in a program and what happens to their results. 1.5.2 Compound Statements In general, Python code is a sequence of statements. A simple statement is a single line that doesn't end in a colon. A compound statement is so called because it is composed of other statements (simple and compound). Compound statements typically span multiple lines and start with a one-line header ending in a colon, which identifies the type of statement. Together, a header and an indented suite of statements is called a clause. A compound statement consists of one or more clauses:

: ... : ... ... We can understand t

Annotation 1439527734540

A simple statement is a single line that doesn't end in a colon.

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: ... : ... ... We can understand t

Annotation 1439529831692

A compound statement is so called because it is composed of other statements (simple and compound)

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Python code is a sequence of statements. A simple statement is a single line that doesn't end in a colon. A compound statement is so called because it is composed of other statements (simple and compound). Compound statements typically span multiple lines and start with a one-line header ending in a colon, which identifies the type of statement. Together, a header and an indented suite o

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: ... : ... ... We can understand t

Annotation 1439531404556

a header and an indented suite of statements is called a clause.

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d statement is so called because it is composed of other statements (simple and compound). Compound statements typically span multiple lines and start with a one-line header ending in a colon, which identifies the type of statement. Together, a header and an indented suite of statements is called a clause. A compound statement consists of one or more clauses:<body><html>

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: ... : ... ... We can understand t

Annotation 1439532977420

A compound statement consists of one or more clauses:

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ts (simple and compound). Compound statements typically span multiple lines and start with a one-line header ending in a colon, which identifies the type of statement. Together, a header and an indented suite of statements is called a clause. A compound statement consists of one or more clauses:<body><html>

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: ... : ... ... We can understand t

Annotation 1439534550284

Compound statements typically span multiple lines and start with a one-line header ending in a colon, which identifies the type of statement.

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Question

What does the Python interpreter do?

Answer

the Python interpreter's job is to execute programs, composed of statements.

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At its highest level, the Python interpreter's job is to execute programs, composed of statements. However, much of the interesting work of computation comes from evaluating expressions. Statements govern the relationship among different expressions in a program and what happens to t

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gt;> def square(x): return mul(x, x) Sometimes it does make sense to have a function whose body is an expression, when a non-pure function like print is called. >>> def print_square(x): print(square(x)) At its highest level, the Python interpreter's job is to execute programs, composed of statements. However, much of the interesting work of computation comes from evaluating expressions. Statements govern the relationship among different expressions in a program and what happens to their results. 1.5.2 Compound Statements In general, Python code is a sequence of statements. A simple statement is a single line that doesn't end in a colon. A compound statement is so call

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Question

What do statements do wrt expressions?

Answer

Statements govern the relationship among different expressions in a program and what happens to their results.

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#aspectos-generales #definición #immex #mexico #octopus

IMMEX es un instrumento para importar temporalmente bienes necesarios en un proceso industrial o de servicio para su exportación o a la prestación de servicios de exportación para exportar despues la mercancia.

La ventaja de importar temporalmente los bienes con IMMEX es que se importan sin cubrir el pago del impuesto general de importación, del impuesto al valor agregado y, en su caso, de las cuotas compensatorias.

El proceso al que se sometan los bienes importados debe estar destinado a elaborar, transformar o reparar mercancías.

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ASPECTOS GENERALES Definición: El Programa IMMEX es un instrumento mediante el cual se permite importar temporalmente los bienes necesarios para ser utilizados en un proceso industrial o de servicio destinado a la elaboración, transformación o reparación de mercancías de procedencia extranjera importadas temporalmente para su exportación o a la prestación de servicios de exportación, sin cubrir el pago del impuesto general de importación, del impuesto al valor agregado y, en su caso, de las cuotas compensatorias Beneficiarios: La Secretaría de Economía (SE) podrá autorizar a las personas morales residentes en territorio nacional a que se refiere la fracción II del artículo 9 d

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Decreto IMMEX
iladora de Exportación (Maquila) y el que Establece Programas de Importación Temporal para Producir Artículos de Exportación (PITEX), cuyas empresas representan en su conjunto el 85% de las exportaciones manufactureras de México. ASPECTOS GENERALES Definición: El Programa IMMEX es un instrumento mediante el cual se permite importar temporalmente los bienes necesarios para ser utilizados en un proceso industrial o de servicio destinado a la elaboración, transformación o reparación de mercancías de procedencia extranjera importadas temporalmente para su exportación o a la prestación de servicios de exportación, sin cubrir el pago del impuesto general de importación, del impuesto al valor agregado y, en su caso, de las cuotas compensatorias Beneficiarios: La Secretaría de Economía (SE) podrá autorizar a las personas morales residentes en territorio nacional a que se refiere la fracción II del artículo 9 del Código Fiscal de la Federación, que tributen de conformidad con el Título II de la Ley del Impuesto sobre la Renta, un solo Programa IMMEX, que puede incluir las modalidades de controladora de empresas, industrial, servicios, albergue y terciarización, siempre que cumplan con los requisitos previstos en el Decreto para el Fomento de la Industria Manufacturera, Maquiladora y de Servicios de Exportación (Decreto IMMEX), publicado en el Diario Oficial e la Federación el 1 de noviembre de 2006. Beneficios: El Programa IMMEX brinda a sus titulares la posibilidad de importar temporalmente libre de impuestos a la importación y del IVA, los bienes necesarios para ser utilizados en un proceso industrial o de servicio destinado a la elaboración, transformación o reparación de mercancías de procedencia extranjera importadas temporalmente para su exportación o a la prestación de servicios de exportación. Estos bienes están agrupados bajo las siguientes categorías: Materias primas, partes y componentes que se vayan a destinar totalmente a integrar mercancías de exportación; combustibles, lubricantes y otros materiales que se vayan a consumir durante el proceso productivo de la mercancía de exportación; envases y empaques; etiquetas y folletos. Contenedores y cajas de trailers. Maquinaria, equipo, herramientas, instrumentos, moldes y refacciones destinadas al proceso productivo; equipos y aparatos para el control de la contaminación; para la investigación o capacitación, de seguridad industrial, de telecomunicación y cómputo, de laboratorio, de medición, de prueba de productos y control de calidad; así como aquéllos que intervengan en el manejo de materiales relacionados directamente con los bienes de exportación y otros vinculados con el proceso productivo; equipo para el desarrollo administrativo. Modalidades: Programa IMMEX Controladora de empresas, cuando en un mismo programa se integren las operaciones de manufactura de una empresa certificada denominada controladora y una o más sociedades controladas; Programa IMMEX Industrial, cuando se realice un proceso industrial de elaboración o transformación de mercancías destinadas a la exportación; Programa IMMEX Servicios, cuando se realicen servicios a mercancías de exportación o se presten servicios de exportación, únicamente para el desarrollo de las actividades que la Secretaría determine, previa opinión de la Secretaría de Hacienda y Crédito Público; Programa IMMEX Albergue, cuando una o varias empresas extranjeras le faciliten la tecnología y el material productivo, sin que estas últimas operen directamente el Programa, y Programa IMMEX Terciarización, cuando una empresa certificada que no cuente con instalaciones para realizar procesos productivos, realice las operaciones de manufactura a través de terceros que registre en su Programa. La SE podrá aprobar de manera simultánea un Programa de Promoción Sectorial, de acuerdo con el tipo de productos que fabrica o a los servicios de exportación que realice, debiendo cumplir con la normatividad aplicable a los mismos. Tratándose de una empresa bajo la modalidad de servicios, únicamente podrá importar al amparo del Programa de Promoción Sectorial las mercancías a que se refiere el artículo 4, fracción III del presente Decreto, siempre que corresponda al sector en que sea registrada. Vigencia: La vigencia de los Programas IMMEX estará sujeta mientras el titular de los mismos continúe cumpliendo con los requisitos previstos para su otorgamiento y con las obligaciones establecidas en el Decreto. Plazos de permanencia: Los bienes importados temporalmente al amparo de un Programa IMMEX, podrán permanecer en territorio nacional por los plazos establecidos en el artículo 108 de la Ley Aduanera. Para las mercancías comprendidas en los Anexos II y III del Decreto IMMEX, cuando se importen como materia prima, el plazo de permanencia será hasta por doce meses. Tratándose de las mercancías que se encuentran comprendidas en el Anexo III del Decreto IMMEX, cuando se importen como materia prima, únicamente cuando se destinen a actividades bajo la modalidad de servicios, el plazo de permanencia será de hasta seis meses. No podrán ser importadas al amparo del Programa las mercancías señaladas en el Anexo I del Decreto IMMEX. Compromisos: Para gozar de los beneficios de un Programa IMMEX se deberá dar cumplimiento a los términos establecidos en el Decreto en la materia. La autorización del Programa se otorgará bajo el compromiso de realizar anualmente ventas al exterior por un valor superior a 500,000 dólares de los Estados Unidos de América, o su equivalente en moneda nacional, o bien, facturar exportaciones, cuando menos por el 10% de su facturación total. Reportes: El titular de un Programa IMMEX deberá presentar un reporte anual de forma electrónica, respecto del total de las ventas y de las exportaciones, correspondientes al ejercicio fiscal inmediato anterior, a más tardar el último día hábil del mes de mayo, conforme al formato que mediante Reglas y Criterios de Carácter General en Materia de Comercio Exterior dé a conocer la Secretaría de Economía. Adicionalmente, la empresa con Programa IMMEX deberá presentar la información que, para efectos estadísticos, se determine, en los términos que establezca la SE mediante Reglas y Criterios de Carácter General en Materia de Comercio Exterior. Para mayor información sobre este programa comunicarse al 01 800 410 2000 disponible para todo el país ó al buzón de la Secretaría de Economía en www.economia.gob.mx; o al teléfono 52-29-61-00, ext. 34347, Lic. Sergio Manríquez Fernández, Subdirector de Devolución de Impuestos. TRÁMITES Operación: Los trámites relativos al Programa IMMEX son gratuitos y pueden ser realizados en las ventanillas de atención al público de las Repre

Annotation 1439542938892

#aspectos-generales #beneficiarios #immex #mexico #octopus

La Secretaría de Economía (SE) podrá autorizar a las personas morales residentes en territorio nacional a que se refiere la fracción II del artículo 9 del Código Fiscal de la Federación, que tributen de conformidad con el Título II de la Ley del Impuesto sobre la Renta, un solo Programa IMMEX, que puede incluir las modalidades de controladora de empresas, industrial, servicios, albergue y terciarización, siempre que cumplan con los requisitos previstos en el Decreto para el Fomento de la Industria Manufacturera, Maquiladora y de Servicios de Exportación (Decreto IMMEX), publicado en el Diario Oficial e la Federación el 1 de noviembre de 2006.

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ranjera importadas temporalmente para su exportación o a la prestación de servicios de exportación, sin cubrir el pago del impuesto general de importación, del impuesto al valor agregado y, en su caso, de las cuotas compensatorias Beneficiarios: La Secretaría de Economía (SE) podrá autorizar a las personas morales residentes en territorio nacional a que se refiere la fracción II del artículo 9 del Código Fiscal de la Federación, que tributen de conformidad con el Título II de la Ley del Impuesto sobre la Renta, un solo Programa IMMEX, que puede incluir las modalidades de controladora de empresas, industrial, servicios, albergue y terciarización, siempre que cumplan con los requisitos previstos en el Decreto para el Fomento de la Industria Manufacturera, Maquiladora y de Servicios de Exportación (Decreto IMMEX), publicado en el Diario Oficial e la Federación el 1 de noviembre de 2006. Beneficios: El Programa IMMEX brinda a sus titulares la posibilidad de importar temporalmente libre de impuestos a la importación y del IVA, los bienes necesarios para

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Annotation 1439543987468

#aspectos-generales #beneficios #immex #mexico #octopus

Los bienes están agrupados bajo las siguientes 3 categorías:

Materias primas, partes y componentes que se vayan a destinar totalmente a integrar mercancías de exportación; combustibles, lubricantes y otros materiales que se vayan a consumir durante el proceso productivo de la mercancía de exportación; envases y empaques; etiquetas y folletos.
Contenedores y cajas de trailers.
Maquinaria, equipo, herramientas, instrumentos, moldes y refacciones destinadas al proceso productivo; equipos y aparatos para el control de la contaminación; para la investigación o capacitación, de seguridad industrial, de telecomunicación y cómputo, de laboratorio, de medición, de prueba de productos y control de calidad; así como aquéllos que intervengan en el manejo de materiales relacionados directamente con los bienes de exportación y otros vinculados con el proceso productivo; equipo para el desarrollo administrativo.

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cumplan con los requisitos previstos en el Decreto para el Fomento de la Industria Manufacturera, Maquiladora y de Servicios de Exportación (Decreto IMMEX), publicado en el Diario Oficial e la Federación el 1 de noviembre de 2006. Beneficios: El Programa IMMEX brinda a sus titulares la posibilidad de importar temporalmente libre de impuestos a la importación y del IVA, los bienes necesarios para ser utilizados en un proceso industrial o de servicio destinado a la elaboración, transformación o reparación de mercancías de procedencia extranjera importadas temporalmente para su exportación o a la prestación de servicios de exportación. Estos bienes están agrupados bajo las siguientes categorías: Materias primas, partes y componentes que se vayan a destinar totalmente a integrar mercancías de exportación; combustibles, lubricantes y otros materiales que se vayan a consumir durante el proceso productivo de la mercancía de exportación; envases y empaques; etiquetas y folletos. Contenedores y cajas de trailers. Maquinaria, equipo, herramientas, instrumentos, moldes y refacciones destinadas al proceso productivo; equipos y aparatos para el control de la contaminación; para la investigación o capacitación, de seguridad industrial, de telecomunicación y cómputo, de laboratorio, de medición, de prueba de productos y control de calidad; así como aquéllos que intervengan en el manejo de materiales relacionados directamente con los bienes de exportación y otros vinculados con el proceso productivo; equipo para el desarrollo administrativo. Modalidades: Programa IMMEX Controladora de empresas, cuando en un mismo programa se integren las operaciones de manufactura de una empresa certificada denomin

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Annotation 1439545036044

#aspectos-generales #immex #mexico #modalidades #octopus

Programa IMMEX Controladora de empresas, cuando en un mismo programa se integren las operaciones de manufactura de una empresa certificada denominada controladora y una o más sociedades controladas;
Programa IMMEX Industrial, cuando se realice un proceso industrial de elaboración o transformación de mercancías destinadas a la exportación;
Programa IMMEX Servicios, cuando se realicen servicios a mercancías de exportación o se presten servicios de exportación, únicamente para el desarrollo de las actividades que la Secretaría determine, previa opinión de la Secretaría de Hacienda y Crédito Público;
Programa IMMEX Albergue, cuando una o varias empresas extranjeras le faciliten la tecnología y el material productivo, sin que estas últimas operen directamente el Programa, y
Programa IMMEX Terciarización, cuando una empresa certificada que no cuente con instalaciones para realizar procesos productivos, realice las operaciones de manufactura a través de terceros que registre en su Programa.

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os y control de calidad; así como aquéllos que intervengan en el manejo de materiales relacionados directamente con los bienes de exportación y otros vinculados con el proceso productivo; equipo para el desarrollo administrativo. Modalidades: Programa IMMEX Controladora de empresas, cuando en un mismo programa se integren las operaciones de manufactura de una empresa certificada denominada controladora y una o más sociedades controladas; Programa IMMEX Industrial, cuando se realice un proceso industrial de elaboración o transformación de mercancías destinadas a la exportación; Programa IMMEX Servicios, cuando se realicen servicios a mercancías de exportación o se presten servicios de exportación, únicamente para el desarrollo de las actividades que la Secretaría determine, previa opinión de la Secretaría de Hacienda y Crédito Público; Programa IMMEX Albergue, cuando una o varias empresas extranjeras le faciliten la tecnología y el material productivo, sin que estas últimas operen directamente el Programa, y Programa IMMEX Terciarización, cuando una empresa certificada que no cuente con instalaciones para realizar procesos productivos, realice las operaciones de manufactura a través de terceros que registre en su Programa. La SE podrá aprobar de manera simultánea un Programa de Promoción Sectorial, de acuerdo con el tipo de productos que fabrica o a los servicios de exportación que realice, debiendo cumplir con la normatividad aplicable a los mismos. Tratándose de una empresa bajo la modalidad de servicios, únicamente podrá importar al amparo del Programa de Promoción Sectorial las mercancías a que se refiere el artículo 4, fracción III del presente Decreto, siempre que corresponda al sector en que sea registrada. Vigencia: La vigencia de los Programas IMMEX estará sujeta mientras el titular de los mismos continúe cumpliendo con los requisitos previstos para su otorgamiento y co

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Annotation 1439546084620

#aspectos-generales #immex #mexico #octopus

Vigencia:
La vigencia de los Programas IMMEX estará sujeta mientras el titular de los mismos continúe cumpliendo con los requisitos previstos para su otorgamiento y con las obligaciones establecidas en el Decreto.

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lidad de servicios, únicamente podrá importar al amparo del Programa de Promoción Sectorial las mercancías a que se refiere el artículo 4, fracción III del presente Decreto, siempre que corresponda al sector en que sea registrada. Vigencia: La vigencia de los Programas IMMEX estará sujeta mientras el titular de los mismos continúe cumpliendo con los requisitos previstos para su otorgamiento y con las obligaciones establecidas en el Decreto. Plazos de permanencia: Los bienes importados temporalmente al amparo de un Programa IMMEX, podrán permanecer en territorio nacional por los plazos establecidos en el a

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Annotation 1439547133196

#aspectos-generales #immex #mexico #octopus

Plazos de permanencia:
Los bienes importados temporalmente al amparo de un Programa IMMEX, podrán permanecer en territorio nacional por los plazos establecidos en el artículo 108 de la Ley Aduanera.

Para las mercancías comprendidas en los Anexos II y III del Decreto IMMEX, cuando se importen como materia prima, el plazo de permanencia será hasta por doce meses. Tratándose de las mercancías que se encuentran comprendidas en el Anexo III del Decreto IMMEX, cuando se importen como materia prima, únicamente cuando se destinen a actividades bajo la modalidad de servicios, el plazo de permanencia será de hasta seis meses.

No podrán ser importadas al amparo del Programa las mercancías señaladas en el Anexo I del Decreto IMMEX.

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13; Vigencia: La vigencia de los Programas IMMEX estará sujeta mientras el titular de los mismos continúe cumpliendo con los requisitos previstos para su otorgamiento y con las obligaciones establecidas en el Decreto. Plazos de permanencia: Los bienes importados temporalmente al amparo de un Programa IMMEX, podrán permanecer en territorio nacional por los plazos establecidos en el artículo 108 de la Ley Aduanera. Para las mercancías comprendidas en los Anexos II y III del Decreto IMMEX, cuando se importen como materia prima, el plazo de permanencia será hasta por doce meses. Tratándose de las mercancías que se encuentran comprendidas en el Anexo III del Decreto IMMEX, cuando se importen como materia prima, únicamente cuando se destinen a actividades bajo la modalidad de servicios, el plazo de permanencia será de hasta seis meses. No podrán ser importadas al amparo del Programa las mercancías señaladas en el Anexo I del Decreto IMMEX. Compromisos: Para gozar de los beneficios de un Programa IMMEX se deberá dar cumplimiento a los términos establecidos en el Decreto en la materia. La autorización del

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Annotation 1439548706060

#aspectos-generales #compromisos #immex #mexico #octopus

La autorización del Programa IMMEX se otorgará bajo el compromiso de realizar anualmente ventas al exterior por un valor superior a 500,000 USD, o su equivalente MXN, o bien, facturar exportaciones, cuando menos por el 10% de su facturación total.

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uando se destinen a actividades bajo la modalidad de servicios, el plazo de permanencia será de hasta seis meses. No podrán ser importadas al amparo del Programa las mercancías señaladas en el Anexo I del Decreto IMMEX. Compromisos: Para gozar de los beneficios de un Programa IMMEX se deberá dar cumplimiento a los términos establecidos en el Decreto en la materia. La autorización del Programa se otorgará bajo el compromiso de realizar anualmente ventas al exterior por un valor superior a 500,000 dólares de los Estados Unidos de América, o su equivalente en moneda nacional, o bien, facturar exportaciones, cuando menos por el 10% de su facturación total. Reportes: El titular de un Programa IMMEX deberá presentar un reporte anual de forma electrónica, respecto del total de las ventas y de las exportaciones, correspondie

Original toplevel document

Annotation 1439549754636

#aspectos-generales #immex #mexico #octopus

Reportes:
El titular de un Programa IMMEX deberá presentar un reporte anual de forma electrónica, respecto del total de las ventas y de las exportaciones, correspondientes al ejercicio fiscal inmediato anterior, a más tardar el último día hábil del mes de mayo, conforme al formato que mediante Reglas y Criterios de Carácter General en Materia de Comercio Exterior dé a conocer la Secretaría de Economía.

Adicionalmente, la empresa con Programa IMMEX deberá presentar la información que, para efectos estadísticos, se determine, en los términos que establezca la SE mediante Reglas y Criterios de Carácter General en Materia de Comercio Exterior.

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realizar anualmente ventas al exterior por un valor superior a 500,000 dólares de los Estados Unidos de América, o su equivalente en moneda nacional, o bien, facturar exportaciones, cuando menos por el 10% de su facturación total. Reportes: El titular de un Programa IMMEX deberá presentar un reporte anual de forma electrónica, respecto del total de las ventas y de las exportaciones, correspondientes al ejercicio fiscal inmediato anterior, a más tardar el último día hábil del mes de mayo, conforme al formato que mediante Reglas y Criterios de Carácter General en Materia de Comercio Exterior dé a conocer la Secretaría de Economía. Adicionalmente, la empresa con Programa IMMEX deberá presentar la información que, para efectos estadísticos, se determine, en los términos que establezca la SE mediante Reglas y Criterios de Carácter General en Materia de Comercio Exterior. Para mayor información sobre este programa comunicarse al 01 800 410 2000 disponible para todo el país ó al buzón de la Secretaría de Economía en www.economia.gob.mx; o al te

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Annotation 1439551589644

#aspectos-generales #definición #immex #mexico #octopus

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IMMEX es un instrumento para importar temporalmente bienes necesarios en un proceso industrial o de servicio para su exportación o a la prestación de servicios de exportación para exportar despues la mercancia. La ventaja de importar temporalmente los bienes con IMMEX es que se importan sin cubrir el pago del impuesto general de importación, del impuesto al valor agregado y, en su c

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Annotation 1439553162508

#aspectos-generales #definición #immex #mexico #octopus

La ventaja de importar temporalmente los bienes con IMMEX es que se importan sin cubrir el pago del impuesto general de importación, del impuesto al valor agregado y, en su caso, de las cuotas compensatorias.

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dy> IMMEX es un instrumento para importar temporalmente bienes necesarios en un proceso industrial o de servicio para su exportación o a la prestación de servicios de exportación para exportar despues la mercancia. La ventaja de importar temporalmente los bienes con IMMEX es que se importan sin cubrir el pago del impuesto general de importación, del impuesto al valor agregado y, en su caso, de las cuotas compensatorias. El proceso al que se sometan los bienes importados debe estar destinado a elaborar, transformar o reparar mercancías.<body><html>

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Flashcard 1439554473228

Tags

#aspectos-generales #definición #immex #mexico #octopus

Question

La ventaja de importar temporalmente los bienes con IMMEX es que se importan sin cubrir [...], del impuesto al valor agregado y, en su caso, [...]

Answer

el pago del impuesto general de importación

de las cuotas compensatorias.

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La ventaja de importar temporalmente los bienes con IMMEX es que se importan sin cubrir el pago del impuesto general de importación, del impuesto al valor agregado y, en su caso, de las cuotas compensatorias.

Original toplevel document

Annotation 1439556832524

#aspectos-generales #definición #immex #mexico #octopus

El proceso al que se sometan los bienes importados (IMMEX) debe estar destinado a elaborar, transformar o reparar mercancías.

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mercancia. La ventaja de importar temporalmente los bienes con IMMEX es que se importan sin cubrir el pago del impuesto general de importación, del impuesto al valor agregado y, en su caso, de las cuotas compensatorias. El proceso al que se sometan los bienes importados debe estar destinado a elaborar, transformar o reparar mercancías.<body><html>

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Flashcard 1439558667532

Tags

#aspectos-generales #definición #immex #mexico #octopus

Question

El proceso al que se sometan los bienes importados (IMMEX) debe estar destinado a [...], transformar o [...] mercancías.

Answer

elaborar

reparar

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El proceso al que se sometan los bienes importados (IMMEX) debe estar destinado a elaborar, transformar o reparar mercancías.

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Annotation 1439561813260

#aspectos-generales #beneficiarios #immex #mexico #octopus

La Secretaría de Economía (SE) podrá autorizar el decreto IMMEX a personas morales

Las personas morales a las que se les autorice el decreto IMMEX deberán ser residentes en territorio nacional a que se refiere la fracción II del artículo 9 del Código Fiscal de la Federación,

Las personas morales a las que se les autorice el decreto IMMEX deberán tributar de conformidad con el Título II de la Ley del Impuesto sobre la Renta

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La Secretaría de Economía (SE) podrá autorizar a las personas morales residentes en territorio nacional a que se refiere la fracción II del artículo 9 del Código Fiscal de la Federación, que tributen de conformidad con el Título II de la Ley del Impuesto sobre la Renta, un solo Programa IMMEX, que puede incluir las modalidades de controladora de empresas, industrial, servicios, albergue y terciarización, siempre que cumplan con los requisitos previsto

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Flashcard 1439564172556

Tags

#aspectos-generales #beneficiarios #immex #mexico #octopus

Question

[...] podrá autorizar el decreto IMMEX a personas morales

Answer

La Secretaría de Economía (SE)

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Flashcard 1439566531852

Tags

#aspectos-generales #beneficiarios #immex #mexico #octopus

Question

La SE podrá autorizar el decreto IMMEX a personas [...]

Answer

morales

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La Secretaría de Economía (SE) podrá autorizar el decreto IMMEX a personas morales Las personas morales a las que se les autorice el decreto IMMEX deberán ser residentes en territorio nacional a que se refiere la fracción II del artículo 9 del Código Fiscal

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Flashcard 1439568891148

Tags

#aspectos-generales #beneficiarios #immex #mexico #octopus

Question

Las personas morales a las que se les autorice el decreto IMMEX deberán ser [...]

Answer

residentes en territorio nacional

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Flashcard 1439571250444

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#aspectos-generales #beneficiarios #immex #mexico #octopus

Question

Las personas morales a las que se les autorice el decreto IMMEX deberán ser residentes en territorio nacional a que se refiere la fracción II del artículo 9 del [...]

Answer

Código Fiscal de la Federación,

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a de Economía (SE) podrá autorizar el decreto IMMEX a personas morales Las personas morales a las que se les autorice el decreto IMMEX deberán ser residentes en territorio nacional a que se refiere la fracción II del artículo 9 del Código Fiscal de la Federación, Las personas morales a las que se les autorice el decreto IMMEX deberán tributar de conformidad con el Título II de la Ley del Impuesto sobre la Renta</bo

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Flashcard 1439573609740

Tags

#aspectos-generales #beneficiarios #immex #mexico #octopus

Question

Las personas morales a las que se les autorice el decreto IMMEX deberán tributar de conformidad con el Título II de la Ley [...]

Answer

del Impuesto sobre la Renta

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territorio nacional a que se refiere la fracción II del artículo 9 del Código Fiscal de la Federación, Las personas morales a las que se les autorice el decreto IMMEX deberán tributar de conformidad con el Título II de la Ley del Impuesto sobre la Renta<body><html>

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Flashcard 1439578328332

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#aspectos-generales #beneficios #immex #mexico #octopus

Question

Los bienes están agrupados bajo las siguientes 3 categorías:

[...], partes y componentes que se vayan a destinar totalmente a integrar mercancías de exportación; combustibles, lubricantes y otros materiales que se vayan a consumir durante el proceso productivo de la mercancía de exportación; envases y empaques; etiquetas y folletos.

Answer

Materias primas

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Los bienes están agrupados bajo las siguientes categorías: Materias primas, partes y componentes que se vayan a destinar totalmente a integrar mercancías de exportación; combustibles, lubricantes y otros materiales que se vayan a consumir durante el proceso pr

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Flashcard 1439581474060

Tags

#aspectos-generales #beneficios #immex #mexico #octopus

Question

Los bienes están agrupados bajo las siguientes 3 categorías:

2. [...].

Answer

Contenedores y cajas de trailers

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n a destinar totalmente a integrar mercancías de exportación; combustibles, lubricantes y otros materiales que se vayan a consumir durante el proceso productivo de la mercancía de exportación; envases y empaques; etiquetas y folletos. Contenedores y cajas de trailers. Maquinaria, equipo, herramientas, instrumentos, moldes y refacciones destinadas al proceso productivo; equipos y aparatos para el control de la contaminación; para la investiga

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Annotation 1439604542732

#aspectos-generales #immex #mexico #modalidades #octopus

Tratándose de una empresa bajo la modalidad de servicios, únicamente podrá importar al amparo del Programa de Promoción Sectorial las mercancías a que se refiere el artículo 4, fracción III del presente Decreto, siempre que corresponda al sector en que sea registrada.

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span>La SE podrá aprobar de manera simultánea un Programa de Promoción Sectorial, de acuerdo con el tipo de productos que fabrica o a los servicios de exportación que realice, debiendo cumplir con la normatividad aplicable a los mismos. Tratándose de una empresa bajo la modalidad de servicios, únicamente podrá importar al amparo del Programa de Promoción Sectorial las mercancías a que se refiere el artículo 4, fracción III del presente Decreto, siempre que corresponda al sector en que sea registrada.<body><html>

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Flashcard 1439648320780

Tags

#analyst-notes #cfa-level-1 #corporate-finance #reading-35-capital-budgeting #study-session-10

Question

Managers can improve their forecasting abilities through [...]

Answer

a post-audit.

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Independent versus mutually exclusive projects. Mutually exclusive projects are investments that compete in some way for a company's resources - a firm can select one or another but not both. Independent projects, on the other hand, do not compete for the firm's resources. A company can select one or the other or both, so long

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Subject 2. Basic Principles of Capital Budgeting
In a non-conventional cash flow pattern, the initial outflow can be followed by inflows and/or outflows. Some project interactions: Independent versus mutually exclusive projects. Mutually exclusive projects are investments that compete in some way for a company's resources - a firm can select one or another but not both. Independent projects, on the other hand, do not compete for the firm's resources. A company can select one or the other or both, so long as minimum profitability thresholds are met. Project sequencing. How does one sequence multiple projects over time, since investing in project B may depend on the result of investing in project A? Unlimited funds versus capital rationing. Capital rationing occurs when management places a constraint on the size of the firm's capital budget during a particular period. In such situations, capital is scarce and should be allocated to the projects most likely to maximize the firm's aggregate NPV. The firm's capital budget and cost of capital must be determined simultaneously to best allocate the firm's capital. On the other hand, a firm can raise the funds it wants for all profitable projects simply by paying the required rate of return. Learning Outcome Statements b. describe the basic principles of capital budgeting; c. explain how the evaluat

Edited, memorised or added to reading queue

on 07-Jan-2017 (Sat)

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Learning Outcome Statements

d. calculate and interpret [...], [...] , [...] , [...] , and [...] of a single capital project;

internal rate of return (IRR) payback period discounted payback period profitability index (PI)

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d. `calculate and interpret` [...], [...] , [...] , [...] , and [...] of a single capital project;

internal rate of return (IRR)

payback period

discounted payback period

profitability index (PI)