To record income taxes in 2022, you need to consider the deferred portion of rent collected in 2021, which was $130 million, and the deferred portion of rent collected at the end of 2022, which was $60 million. The taxable income in 2022 is $520 million, and the tax rate is 25%.
First, calculate the change in the deferred portion of rent:
Change in deferred rent = Deferred rent in 2021 - Deferred rent in 2022
Change in deferred rent = $130 million - $60 million = $70 million
Next, calculate the income tax expense based on taxable income:
Income tax expense = Taxable income * Tax rate
Income tax expense = $520 million * 25% = $130 million
Now, calculate the deferred tax liability:
Deferred tax liability = Change in deferred rent * Tax rate
Deferred tax liability = $70 million * 25% = $17.5 million
Finally, prepare the journal entry to record income taxes in 2022:
- Debit Income Tax Expense: $130 million
- Credit Deferred Tax Liability: $17.5 million
- Credit Income Taxes Payable: $112.5 million ($130 million - $17.5 million)
Your answer: In 2022, the journal entry to record income taxes includes a debit to Income Tax Expense for $130 million, a credit to Deferred Tax Liability for $17.5 million, and a credit to Income Taxes Payable for $112.5 million.
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a recent research signified the large health benefits of eating cooked tomatoes. holding other things constant, this will cause a. the demand curve for tomatoes to shift to the right b. the demand curve for tomatoes to shift to the left c. the supply curve for tomatoes to shift to the right d. the supply curve for tomatoes to shift to the left
The recent research highlighting the health benefits of eating cooked tomatoes would likely cause the demand curve for tomatoes to shift to the right. Option a is correct.
This is because the increased awareness of the health benefits would lead to a higher demand for tomatoes, as more people would be inclined to consume them. However, it would not affect the supply curve for tomatoes, as the supply is determined by factors such as production and availability, which are not directly influenced by health benefits.
Therefore, the correct answer would be option A, the demand curve for tomatoes would shift to the right.
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why is it important to consider the annual fee when comparing credit card offers?
Answer:
Money of rewards need to be greater than annual fee. APR because it determines interest you pay on balance you carry.
Explanation:
Emily is deciding whether to buy the same designer jacket her friends have. The jacket is much more expensive than a similar one from a lesser-known brand.
Which questions should she consider before she buys the jacket? Check all that apply.
Is advertising influencing her?
What are her motivations?
Has she compared prices?
Is she buying at the right time?
Will her sister like the jacket too?
Answer: Is advertising influencing her?
What are her motivations?
Has she compared prices?
Is she buying at the right time?
Explanation:
The questions that she should consider before she buys the jacket include:
• Is advertising influencing her?
• What are her motivations?
• Has she compared prices?
• Is she buying at the right time?
Before buying the jacket, the question "Will her sister like the jacket too?" shouldn't be considered as she is looking to satisfy her own needs and not that if her sister and in this case, he sister shouldn't have an impact on her buying decision.
Answer:
A, B, C, D
Explanation:
edge2021
Mention five legal ways to spend money
Some ways that you can spend money legally are:
Buying booksGoing on a vacationBuying a companyGiving to the poor or a charityEmploying laborWhat is Money?This refers to the legal tender that is used for the buying and selling of goods and services that have an inherent value
Hence, we can see that based on the given question, money can be spent in a variety of ways legally and this includes starting a business, giving to the poor, etc.
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how does opting into automatically applied recommendations help an account-holder? it helps to maximize the effectiveness of recommendations since it triggers automatic increases in budgets to cover the costs of recommendations. it helps ensure that best practices are applied across all campaigns, since marketers themselves choose which recommendations are applied across a whole account or manager account. it helps make sure that optimizations are based on recent rather than old activity, since only the past week of data is used to inform them. it helps ensure that recommendations that are most likely to have the impact on campaigns are the ones that are applied, since this analysis and implementation occurs automatically.
Opting into automatically applied recommendations helps ensure that recommendations that are most likely to have an impact on campaigns are the ones that are applied, as this analysis and implementation occurs automatically, option D is correct.
By leveraging machine learning algorithms and real-time data, the system can identify and apply the most relevant and effective recommendations without manual intervention. This saves time and effort for the account-holder, as they don't need to manually review and implement each recommendation.
Automatically applied recommendations can leverage a wider range of data beyond just the past week. They can consider historical data and trends to provide more comprehensive and accurate optimizations. Marketers themselves choose which recommendations to apply, opting for automatic application ensures consistency and eliminates potential bias or oversight in manual selection, option D is correct.
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The complete question is:
How does opting into automatically applied recommendations help an account-holder?
A. it helps to maximize the effectiveness of recommendations since it triggers automatic increases in budgets to cover the costs of recommendations
B. it helps ensure that best practices are applied across all campaigns, since marketers themselves choose which recommendations are applied across a whole account or manager account
C. it helps make sure that optimizations are based on recent rather than old activity, since only the past week of data is used to inform them
D. it helps ensure that recommendations that are most likely to have the impact on campaigns are the ones that are applied, since this analysis and implementation occurs automatically.
For an investor seeking a tax sheltered investment, the primary advantage of a real estate direct participation program is the: A high level of liquidity provided by the investment B ability of the program to generate losses for tax purposes but provide positive cash flow C ability to offset passive losses generated by the program against the investor's earned income D ability of the program to generate increasing losses until liquidation Review
Your little sister Tiffany is beginning to cause you some concern. She wants to borrow $480 from you today and promises to pay you $500 in one year. You earn 3% on your deposits. Disregarding what your 9 year-old sister would need $480 for, would this be a good loan for you to make?
A big crowd is watching a football game. Suddenly, everyone jumps to their feet and starts cheering. The home team scored a touchdown. They are now in the lead. What is the stimulus in this scenario?
A) They are now in the lead.
B) The home team scored a touchdown.
C) A big crowd is watching the game.
D) Suddenly, everyone jumps to their feet and starts cheering.
B)
Explanation:
the definition of stimulus is something that causes a reaction so b is the only one that makes sense
Because of the actions of the Federal Reserve, the American money supply __________ in the period from 1929 to 1932.
It can be noted that the actions of the Federal Reserve led to the shrinking of the American money supply.
What is money supply?Money supply simply means the total amount of money that's in circulation at a particular time.
Due to the actions of the Federal Reserve, the American money supply shrank in the period from 1929 to 1932.
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1. Which cleaning solvent is used for removing dust, grease oil, paint and others?
a. gasoline
b. kerosene
c. thinner
d. water
_____ 2. All of the following are examples of lubricant EXCEPT.
a. all-purpose anti-rust lubricant
b. anti-rust lubricant spray
c. engine oil
d. wire pushing lubricant
_____ 3. All of the following is the action to identify and eliminate all unnecessary items from your
work place and dispose them?
a. sanitize
b. self-discipline
c. sort
d. systemize
_____ 4. Which of the following IS NOT the way to maintain and storing tools and equipment for hand
tools?
a. clean dirt and debris from tools after each use
b. lightly sand rough wooden handles and apply linseed oil
c. repair loose handles
d. sharpen blades of power tools
_____ 5. Which of the following IS NOT the way to maintain and storing tools and equipment for
power tools?
a. clean the air filter
b. change the oil
c. lubricate non-moving parts
d. replace spark plugs
Ant:
s are drrrr
Export
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The side of an account that is increased is called the normal balance of the account True or false?.
It is true that the side of the account that is increased is called the normal balance of the account.
All sort of asset accounts have a normal balance at the debit side of the T account. And, it is associated with the left side of the equation i.e. liability and owner equity’. A normal balance refers to the debit or credit balance that’s basically expected from a certain account.
This concept of normal balance is actually used in the double-entry method of accounting. In a business asset account, for example, the normal balance would consist of debits . You can expect your asset account to have a debit normal balance. You can expect your credit account to have a credit normal balance.
The increasing side of the account is the normal balance. The normal balance for asset and expense accounts is the debit balance, while for income, equity, and liability accounts it is the credit balance.
An account's normal balance is on the side where increases go because the increases in any account are usually greater than the decreases.
Therefore the normal balance of an account is the side of the account that is positive or it is increasing.
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When one nation can produce a product at lower cost?
A country is believed to have an "absolute advantage" in making a good if it can do it more affordably at lower cost than another country.
What is defined as the absolute advantage in production?A producer has an absolute advantage over its rivals when it can create a product or a service in a higher volume for the same price, or in the same volume at a cheaper cost.
Absolute advantage, a theory put out by Adam Smith, can serve as the foundation for significant gains from commerce between producers of various items with various absolute advantages.Producers with various absolute advantages could always just gain more through specialization, the splitting of labor, and commerce than to produce and consume separately.Comparative advantage, or the capacity to provide items and services at a reduced opportunity cost, can be compared with absolute advantage.Thus, a country is believed to have an "absolute advantage" in making a good if it can do it more affordably at lower cost than another country.
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when using the effective-interest method of bond amortization, interest expense each payment if the bonds were issued at a premium. multiple choice question. decreases increases stays the same
Increases. When using the effective-interest method of bond amortization, the interest expense each payment will increase if the bonds were issued at a premium because the bond premium is being amortized over the life of the bond.
This means that a portion of the premium is added to the interest expense each period, resulting in a higher interest expense than if the bonds were issued at face value or a discount. When using the effective-interest method of bond amortization, interest expense each payment if the bonds were issued at a premium will decrease over time.
This is because the effective-interest method results in a lower interest expense in the earlier periods of the bond's life and a higher interest expense in the later periods, reflecting the fact that the premium on the bond is being amortized over its term. As a result, the total amount of interest expense over the life of the bond will be equal to the total amount of interest payments made to bondholders.
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one reason we have seen continued growth in home-based businesses is
Home-based enterprises have continued to expand, in part because it is simpler to compete with low-cost technology.
What is a new company whose main goals are expansion and high profitability?The main goals of an entrepreneurial endeavour are expansion and high profitability. Entrepreneurs take a proactive approach to management and create novel approaches, procedures, and goods.
What factors account for the expansion of home-based businesses?The benefits of operating a business from home include time savings, control over working conditions and hours, independence, and flexibility. Establishing a business from home also costs a lot less money than beginning one in rented space.
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Economists say that the allocation of resources is efficient if:.
Economist popularly asserts that an allocation of resources will be efficient if the total surplus is maximized.
What entails allocation of resources?An allocation of resources is said to occur if producer produce goods and services that people value most highly.
In conclusion, if the total surplus for a produced goods is maximized, then, there is an efficient allocation of resources.
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When new firms enter a purely competitive industry the market supply curve will shift to the left?
No, when new firms enter a purely competitive industry the market supply curve will shift to the right. This is because an increase in the number of firms means an increase in the amount of product being supplied to the market. As a result, the market supply curve will shift to the right, indicating an increase in supply. This will lead to a decrease in the market price and an increase in the quantity demanded.
In a purely competitive industry, the market supply curve is determined by the individual firms' supply curves, which are in turn determined by their marginal cost curves. When new firms enter the industry, the market supply curve shifts to the right because the overall supply in the market increases. This occurs because the new firms will increase the total output of the industry, resulting in a greater quantity supplied at any given price.This increase in supply will lower the market price of the product, as the greater supply will lower the equilibrium price. As a result, existing firms will experience a decrease in their quantity supplied and profit margins, while consumers will enjoy lower prices.
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In a business report, you should use quotations
more frequently than paraphrases, generally.
to show the reader that you're an expert at quoting others.
less frequently than paraphrases, generally.
to explain simple facts that can also be easily paraphrased.
Therefore, it is generally advisable to use direct quotations sparingly and focus on paraphrasing and synthesizing information in your own words.
Less frequently than paraphrases, generally.
In a business report, it is generally recommended to use paraphrases more frequently than direct quotations. Paraphrasing allows you to convey information in your own words and integrate it seamlessly into your writing. Paraphrasing demonstrates your understanding of the material and allows you to present the information in a way that aligns with the flow and style of your report.
Direct quotations should be used sparingly and strategically in a business report. They are typically reserved for situations where the exact wording of a source is crucial, such as when quoting specific definitions, expert opinions, or unique perspectives. Direct quotations should add value to your report by providing insights or supporting arguments that cannot be adequately conveyed through paraphrasing.
Using too many direct quotations can disrupt the flow of your report and give the impression that you are relying too heavily on the words of others rather than providing your own analysis and interpretation.
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A person performs a cost-benefit analysis in order to:
A. calculate the expenses of multiple businesses competing in the
same market.
B. evaluate the possible positive and negative effects of different
economic decisions.
C. analyze economic data to reach general conclusions about a
country's economy.
D. determine the tax rates a business will pay depending on its
profits in a year.
o
Answer:
B. evaluate the possible positive and negative effects of different economic decisions.
Explanation:
Cost-benefit analysis (CBA) is used to examine and compare the cost associated with a project or task and the benefits derived from it.
Simply stated, cost-benefit analysis is a form of utilitarianism commonly used by individuals, business firms and government in the decision-making process, as all the cost incurred are determined and analyzed.
This ultimately implies that, it may be used to determine how changes in differing levels of activities such as costs and volume affect a company's operating income and net income.
Cost-benefit analysis (CBA) sums the total cost associated with a project (activity) and compares this cost against the total benefits that would be generated. Thus, it helps in the decision-making process by comparing the net present value (NPV) of the cost of a particular project with the net present value (NPV) of its benefits.
Hence, a person performs a cost-benefit analysis in order to help him or her evaluate the possible positive and negative effects of different economic decisions with respect to an investment, project, activity, or programme.
Why is creative thinking important to generate business ideas?
Answer: Creative thinking is necessary for business problem-solving.
Explanation: The skill of creative thinking is a helpful skill because it teaches workers/business owners to find opportunities and ways to improve something even if the situation is challenging. This also lets the person face a problem or situations by a different view. I hope this helped!
Aaron gets up every morning and goes to the restaurant where he cooks. When talking about his job, Aaron says, "I can't help it—I love to make people happy! The looks on their faces when they see their dinners is all the reward I'll ever need!" Aaron has never been late to work, and he always shows up with a smile.
Answer:
Passion towards work
Explanation:
In simple words, the given paragraph shows that Aaron is passionate and fully dedicated towards his work. He feels proud and secured about his job and do not need monetary incentives to perform well or up to the mark. The paragraph also signifies that Aaron has mastered in his job and is able to perform better than his peers.
what refers to actions by franchisors to void the contracts of franchisees in order to sell the franchise to someone else and collect an additional fee?
The term that refers to actions by franchisers to void the contracts of franchisees in order to sell the franchise to someone else and collect an additional fee is "churning."
Churning occurs when a franchisor intentionally terminates or forces franchisees out of their contracts in order to resell the franchise to new individuals, often with the goal of generating additional fees or royalties. This practice is generally considered unethical and can lead to legal disputes between the franchisor and franchisee.. This practice is generally considered unethical and unfair to the franchisees involved. It can disrupt the business operations of existing franchisees and undermine the trust and stability of the franchising relationship.
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Which sequence of HACCP principles is in the correct order?
A.
Establish critical limits for each CCP, conduct a hazard analysis, and establish corrective actions.
B.
Conduct a hazard analysis, identify CCPs, and establish critical limits for each CCP.
C.
Establish record-keeping procedures, establish corrective actions, and establish CCP monitoring requirements.
D.
Establish CCP monitoring requirements, conduct a hazard analysis, and identify CCPs.
E.
Conduct a hazard analysis, identify CCPs, and establish CCP monitoring requirements.
Answer:
B
Explanation:
Hazard analysis of critical control point (HACCP) is a process of identifying and assessing risks alongside the biological , physical and chemical hazards associated with food production .
The sequence of the first three of the seven principles are
1. Conduct hazard analysis to determine potential risks related to food protection
2. Identify the critical control point (CCP) which addresses controlling identified hazards that are mostly likely to cause injury to health
3. Establishing critical limits for each CCP , which is the highest or lowest level a biological ,physical or chemical parameter must be controlled to prevent or minimize hazards.
Answer:
B. Conduct a hazard analysis, identify CCPs, and establish critical limits for each CCP
Explanation:
In what ways has the nature of work in the United States changed since the 1900s?
Answer:
What the dude in the comments said:
Over the last century, machines have replaced workers in many tasks. technology has created more jobs than it has replaced. There is now more diversity in workplaces. Ever since the industrial Revolution there is now more manufacturing. In the 1900s farming jobs had higher demand because they didn't have machines that would prep the soil, or harvest the crops.
The ways that the nature of work has changed in the United States since 1900s are:
More machines now replace humans in doing tasksIncreased manufacturing Increase in technology usageArtificial intelligence application, among others.Nature of work refers to the type of work or tasks that is being done.
Making reference to the nature of work in the United States of America in the last centuries compared to the current century, the nature of work has changed a lot.
Before the industrial revolution in the 1900s, the type of job done were predominantly farming related with the use of simple farm implements.Jobs that were in high demand then were majorly agro-related.In the wake of the industrial revolution, the nature of work has changed to a whole entire new world of work where machines and technologies are now being used in achieving many tasks that were manually done in the past.Even in agriculture, machines are now replacing humans in doing some of the manual tasks that were done before. For example, tractors have replaced manual clearing or tilling done by humans manually.Beyond the agricultural industry, technology and increased manufacturing are what have characterized the nature of work that we have at the moment in the United States.Therefore, the ways that the nature of work has changed in the United States since 1900s are:
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If government spending increases or personal income taxes decrease, what are the likely effects on output, price level, and interest rates?
Price Level / Output / Interest Rates
1) Increase / Increase / Decrease
2) Increase / Increase / Increase
3) Decrease / Increase / Decrease
4) Decrease / Decrease / Decrease
5) Decrease / Decrease / Increase
When there is an increase in government spending, there will be an increase on the output, price level, and interest rates
What is a government spending?This refers to the funds injected to the public sector on the acquisition of services such as education, healthcare, social protection, defense etc.
Most time, the effect of an an increase in government spending leads to an increase on the output, price level, and interest rates as it is a method of stimulate demand.
Therefore, the Option A is correct.
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What are three negative effects of conflict when it is not handled well?
Answer:
Low moraleAbsenteeism, Turnover and termination.Explanation:
Conflicts are unresolved differences between two or more parties. They are intense disagreements caused by parallel thoughts, ideology, action, or plans. When unchecked, conflicts may result in violent behavior. Other negative effects of conflict include
1. Low morale: Conflicts create a tense working environment. Employees can not focus on their duties. Teams do not perform as cohesive units, which demoralizes employee morale. Productivity per worker reduces, which affects the overall business performance.
2. Absenteeism: Conflict in the workplaces make a section of staff feel not appreciated. They feel their ideas and efforts are not given due consideration. Staff members with such feelings will look for excuses to miss work.
3. High employee turnover :Conflicts make employees seek opportunities elsewhere.
Sandy is sitting outside her boss’s office awaiting her first appraisal interview. She is nervous, but confident. She has improved tremendously since she dropped that whole tray of dinners when she first came to work three months ago.
Her boss has stopped coming around and telling her not to do this and that, so she thinks that she’s doing all right (although, of course, you never know). She gets along very well with the guests, and, in fact, sometimes people ask to be seated at her tables. Her tips are higher than almost anyone else’s, and that must count for something.
The door opens and the boss motions her to come in and sit down. "Good morning, Sally," he says. "We’re a little bit rushed for time, so I’ll just go through this evaluation form with you—er—Sandy. Read it over, won’t you? Then we’ll talk."
Sandy glances through the ratings: average, average, average, needs improvement. Well, she has to admit she still has trouble opening wine bottles and sometimes breaks the cork. Average, average, average.
She sighs, hands the form back to her boss, sits back in her chair, folds her hands tightly, and looks down at them.
"Well, what do you think, Sandy? Do you agree? We need to make a plan for your improvement on wine service. I know you sometimes ask Charlie to open your bottles and that’s not really what good customer service is all about. Why don’t you get Charlie to give you some tips on what you’re doing wrong? Then maybe next time you’ll get a better rating. Now, do you have any comments or questions?"
"What’s average?" Sandy asks.
"Well, I guess it means no better and no worse than anyone else. Actually, it means you’re doing okay; you’re just not as good as people like Ruth and Charlie. But you certainly don’t need to worry about losing your job or anything like that—you’re all set here! Anything else?"
"Well," Sandy begins, gathering up her courage, "I thought I was really above average in customer service—people ask for me and they tip me a lot, so I must be—"
"But don’t forget the time you dropped the dishes, Sandy! I do think you’re doing very well indeed now, but we’re talking about the whole evaluation period! Now, if you’ll just sign this… ."
Case Study Questions
1. What do you think of the boss’s ratings and his defense of them?
2. How do you think Sandy feels? Will she be motivated to improve? Is it enough to know you are not going to lose your job?
3. List the mistakes the boss makes in his interview. How could he have handled things better?
4. What do you think of the boss’s improvement plan? How will Charlie feel about it?
5. If the boss’s supervisor could have heard this interview, what would have been the supervisor’s opinion of it? What responsibility does the boss’s boss have for the way that interviews are handled? What means could be set up for evaluating supervisors on their interviews?
The boss's ratings and defense are inconsistent and fail to recognize Sandy's strengths. Sandy is likely to feel demotivated and confused. The boss makes mistakes in the interview by focusing only on the evaluation form and failing to provide specific feedback. The improvement plan could be more supportive and Charlie's willingness to assist should be considered. If the boss's supervisor had heard the interview, they would have concerns about the boss's approach. The boss's boss has a responsibility to ensure effective interviews and could establish guidelines and evaluate supervisors on their interview skills.
1. The boss's ratings and his defense of them seem to be unfair and inconsistent. The boss rates Sandy as "average" in most areas but says she needs improvement in wine service. However, the boss acknowledges that Sandy sometimes asks Charlie for help with opening wine bottles, which suggests that her performance in that area is not entirely her fault. Additionally, the boss mentions that Sandy is doing well overall and that her tips are higher than most, which contradicts the "average" ratings. Overall, the boss's ratings and defense seem inconsistent and do not accurately reflect Sandy's performance.
2. Sandy is likely to feel confused and demotivated by the boss's evaluation. She believed she was doing well based on her interactions with guests and high tips, so the "average" ratings came as a surprise. Although the boss assures her that she won't lose her job, this may not be enough to motivate her to improve. Sandy may feel discouraged and frustrated with the lack of recognition for her strengths. To truly motivate Sandy, the boss should provide constructive feedback and acknowledge her strengths while also addressing areas for improvement.
3. The boss makes several mistakes in the interview. Firstly, he focuses solely on the evaluation form without providing specific examples or explanations for the ratings. He also fails to acknowledge Sandy's strengths and achievements, which would have boosted her morale. The boss could have handled things better by praising Sandy's strengths, providing specific feedback on her weaknesses, and offering a clear plan for improvement. Additionally, he should have given Sandy the opportunity to express her thoughts and concerns without dismissing them.
4. The boss's improvement plan seems reasonable, as it suggests seeking assistance from Charlie to improve wine service. However, the boss could have presented it in a more supportive and encouraging manner. By highlighting Sandy's strengths and explaining how improving wine service would enhance her overall performance, the boss could have made the plan more motivating. As for Charlie, he may feel burdened or taken advantage of if asked to constantly assist Sandy. The boss should communicate the plan to Charlie and ensure he is willing to provide the necessary support.
5. If the boss's supervisor had heard the interview, they would likely have concerns about the boss's evaluation approach and communication skills. The supervisor would expect the boss to provide specific and constructive feedback to motivate employees rather than relying solely on vague ratings. The supervisor would also expect the boss to acknowledge and appreciate employees' strengths. The responsibility of the boss's boss is to ensure that interviews are conducted in a fair and effective manner. They should establish clear guidelines for evaluation, provide training on effective communication and feedback, and regularly assess supervisors' performance in conducting interviews.
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What is something that will not help you get a higher credit limit?
A: Paying off the balance of the credit card each month
B: Asking the banking company for a higher limit on your credit card
C: Maxing out the credit card and only making the minimum payment each month
D: Making more money at your job (More personal income)
Maxing out the credit card and only making the minimum payment each month is something that will not help you get a higher credit limit. A credit limit is the most money you are permitted to spend on a credit card or line of credit by a lender.
If a credit card company grants you a credit limit of $2,500, that is the most you may ever have charged to the card payment . If you charge $1,900 to your card, you will have $600 left over that you can use without paying a fee or being restricted from using the card limit further.
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Mary, who turned 75 in December 2020, decided to retire and takes a lump sum distribution of $600,000 from her former employer's profit-sharing plan during the current year. Mary had worked for the employer since 1973 and accumulated 200 shares of employer stock in the plan, which are distributed in-kind as part of the lump sum distribution. Which of the following taxation options are available for Mary in the year of this distribution?
1. Ten-year forward averaging.
2. Pre-74 capital gain treatment.
3. Net unrealized appreciation.
4. Five-year forward averaging.
Option (4) is correct.Five-year forward averaging is also no longer available as a taxation option for lump sum distributions from qualified retirement plans.
Mary, who turned 75 in December 2020, decided to retire and take a lump sum distribution of $600,000 from her former employer's profit-sharing plan during the current year. The distribution includes 200 shares of employer stock, which are distributed in-kind as part of the lump sum distribution. Mary has several options for the taxation of this distribution.
Ten-year forward averaging is no longer an available taxation option for lump sum distributions from qualified retirement plans. This option was eliminated by the Tax Reform Act of 1996.
Pre-74 capital gain treatment is not applicable in this case because Mary's distribution occurred after 1974.
Net unrealized appreciation (NUA) is a taxation option for distributions that include employer securities. With NUA treatment, the cost basis of the employer securities is excluded from the taxable income in the year of the distribution, and only the appreciation in value is subject to taxation at the long-term capital gains rate when the securities are sold. However, NUA treatment is not available for distributions from IRAs or other tax-deferred accounts. Hence, option (4) is the correct answer.
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Legal Application
13. Juan was vacationing at a Mexican resort when he lost a valuable necklace. He put a notice in
the local newspaper that promised a $500 reward for finding and returning the necklace.
Because Juan had to leave the resort two days later, he included his home address and phone
number. Two months later, Mia found his necklace and contacted him. Juan told her he would
give her only $300 for returning
the necklace since he had to wait so long for it. Can Juan
revoke his $500 offer for this reason? Explain your answer.
need help with this one
Juan cannot revoke his offer of $ 500 for this reason because in his ad he did not establish a time limit on finding and returning the necklace.
Juan established an offer for whoever finds his necklace with specific conditions and a retribution value of $ 500. Once a person reads the ad and looks for the necklace and finds it, it can be inferred that he accepted the agreement, so Juan cannot change his offer from $ 500 to $ 300.
If Juan had the intention of lowering the amount of compensation money for whoever found his necklace after a while, he must have expressed this in the advertisement that he published. Therefore, Juan must pay $ 500 for his necklace.
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Why are import and export two terms that are often involved in conversations about international trade or channel management? Evaluate why knowing the difference between these terms would be important and analyze the difference between these two terms.
Answer:International trade deals within countries, while channel management is a form of trade that could be within the country or outside but seeking the best form or place for the market
Explanation:
International trade is the situation where two countries do business, either long distance buying(importing) or one is selling(exporting).
While Channel management is a technique for choosing the most efficient channels to sale or market your goods and making good profit or deriving the best result from those channel chosen.
Knowing the difference between the two terms is important so you can understand where best your market is appreciated and where best to avoid selling to.
International trade deals within countries, while channel management is a form of trade that could be within the country or outside but seeking the best form or place for the market