The issue of bonuses being paid to senior executives has come under media scrutiny as a result of the recent banking royal commission. The article "APRA urged to make CEO bonuses more transparent" by Sally Patten was published in the Australian Financial Review on 7/11/2019 (refer to the document titled Patten (2019)). A central theme in this article is that the Australian Prudential Regulatory Authority (APRA) should ensure that non-financial targets are able to measured appropriately if they are to be used to measure bonuses as part of a plan to impose restrictions on how short-term incentives are paid.

Refer to the article, Patten (2019), as well as other references, and answer the following questions:

1.Explain why APRA wants to impose restrictions on how short-term incentives are paid, referring to arguments which support the regulation of accounting as well as the bonus plan hypothesis of positive accounting theory (PAT);

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2.According to the article, "APRA is proposing to force companies to structure short-term incentives so that at least 50 per cent of senior executives' performance targets such as customer satisfaction, safety and compliance". Explain the purpose of this APRA proposal from the perspective of:

a.Agency problems; and

b.The Efficiency perspective of PAT

3.Explain the comment "If APRA wishes to push forward with its pay recommendations, it should at least ensure that non-financial measures are quantifiable, hence less easy to manipulate" from the opportunistic perspective of PAT.

Chapter 3: The Law of Contracts Questions: 1. Tajpreet, a mature and responsible teenager, wants to book a suite at the Showcase Hotel for a party to celebrate her and her classmates graduation from junior high. How should the desk clerk respond to her request for a reservation? Why? 2. Manpreet reserved a room at the Moonlight Motel. At the last minute, her plans changed making it impossible for her to travel. She called her sister, Ravinder, and suggested that she make use of the room in her place. When Ravinder arrived at the motel, she was refused admittance to the room on the grounds that there was a waiting list and she was not on it. Was the motel within its rights to refuse her admittance? Why or why not? 3. Tajinder wrote a letter to Amanpreet in which he stated, "I'm planning to buy your car. I can meet your price. I'll call you next week." After receiving Tajinder's letter, Amanpreet sold his car stand to another party. Can Tajinder take legal action against Amanpreet? Why or why not? 4. A jazz singer was contracted to perform for two nights at a nightclub. Four days before he was to appear, the club burned to the ground. What effect did the fire have on the contract? Would your answer change if it were discovered two weeks later that the fire had been set by a disgruntled ex- employee at the urging of a disgruntled current employee?Obsolescence refers to a situation where: ()a) An employer is aware of misconduct but takes no disciplinary action within a reasonable time (b) The employment contract is ambiguous and therefore will be interpreted against the employer c) The employment contract no longer reflects the employment relationship Od) the termination clause in the employment contract is unenforceable QuestiPrior contracts between the parties is a type of extrinsic evidence a court will consider to interpret a contract. Select one: O True O False Question 17 Not yet answered Points out of 1.00 Flag question If a person receives a benefit, the law of implied contracts, or quasi contract, requires that person pay for the benefit. Select one: O True O False6. What explains the narrow coastal band of Cs (mediterranean) climates at about 35" North and South along the west coast? 7. Why do the Cfb (marine west coast) climates, just poleward of the dry summer Cs cli- mates, receive rain all year? 8. Why do Cfa (humid subtropical) climates along the east coast receive rain all year, but at the same latitude along the west coast, the Cs climates have dry summers? 9. Why is the Dib (humid continental) climate in a band just north of the band of Dfa climate? 10. Why is the high latitude interior of the continent dominated by Dic and Did (subarctic) climates? 11. Why are no D or E climates shown in the Southern Hemisphere?DATA STRUCTURES LAB TASKS AND REPORT FORMAT Page:"3 Instruction : show your working plan in flowchart or state diagram or pseudo code. Task 10 a : 1. Use random number generator to generate sample data. 2. Implement MERGE SORT by using data generated in (1) 3. Print Content of unsorted Data and Sorted Data on screen for inspection. 4. Paste print screen results for report writing. Task 10 b 1. Prepare a Lab Report