With respect to the unearned income from services, which of the following is true? a.An accrual basis taxpayer can spread the income over the period services are to be provided if all of the services will be completed within three years following the year of receipt. b.The treatment of unearned income is the same for tax and financial accounting for both cash and accrual basis taxpayers. c.A cash basis taxpayer must report all of the income in the year received. d.An accrual basis taxpayer can spread the income over the period services are to be provided on a contract for three years or less. e.None of these choices are correct.
Answers
Answer:
c. A cash basis taxpayer must report all of the income in the year received.
Explanation:
As a standard, all individuals and business entities are required by law to pay their taxes to the government at a specific period of time.
With respect to the unearned income from services, a cash basis taxpayer must report all of the income in the year received, whether as property or in cash. This simply means that, a cash basis taxpayer can neither deduct promissory notes or checks as payments nor report receivables as income because all of the expenses and income must be reported in the year they were received or paid.
However, not all taxpayers are permitted to use the cash basis method of reporting, these include C corporations, tax shelter, partnership with a C corporation etc.
Related Questions
9. What is an example of an inflation risk?
Answers
Lending a fixed sum of money for later repayment is an example of an inflation risk.
This a classic example of an asset that is subject to inflationary risk because the money that is repaid may be worth significantly less than the money that was lent. The risk that inflation can pose to a portfolio over time is called Inflationary risk or also called purchasing power risk. the possibility that rising prices associated with inflation could outpace the returns delivered by your investments it is specifically, refers.
In simple words, when inflation will undermine an investment's returns through a decline in purchasing power risk is known as Inflationary risk. Bond payments payouts are generally based on fixed interest rates, meaning an increase in inflation diminishes their purchasing power and there are most at inflationary risk.
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what is the decision of the Michael J. French v. American Airlines 2009 U.S. Dist. LEXIS 48654 (U.S. District Court Utah Central Division) case
Answers
The case was heard in the US District Court for the Central Division of Utah. The court ruled in favor of American Airlines, stating that the airline had not violated the ADA by requiring the passenger's service animal to be in a kennel during the flight. The court noted that the airline had provided alternative accommodations for the passenger, including an earlier flight that would allow the passenger to have his service animal with him outside of a kennel. The court also stated that the airline's safety concerns were legitimate and that the airline had the right to establish policies to ensure the safety of its passengers.
Overall, the decision in the Michael J. French v. American Airlines case was in favor of American Airlines, stating that the airline had not violated the Americans with Disabilities Act by requiring the passenger's service animal to be in a kennel during the flight.
Answer:
for American Airlines
Explanation:
Use the sample data below to test the hypotheses
:
: Not all population proportions are the same
Populations
Response 1 2 3
Yes 150 150 95
No 100 150 105
Answers
The provided sample data can be used to test the hypotheses about the population proportions, but we would need additional information to perform the chi-squared test and draw a definitive conclusion.
To test the hypotheses that not all population proportions are the same using the given sample data, we can perform a hypothesis test for proportions.
Step 1: Formulate the null and alternative hypotheses:
- Null hypothesis (H0): The population proportions are the same for all three populations.
- Alternative hypothesis (H1): The population proportions are not the same for all three populations.
Step 2: Choose a significance level (α):
The significance level is the threshold for determining if the results are statistically significant. Let's assume a significance level of α = 0.05, which is a common choice.
Step 3: Calculate the test statistic and p-value:
We can use a chi-squared test for independence to compare the observed frequencies with the expected frequencies under the null hypothesis. This test will help us determine if there is a significant difference in the proportions.
Step 4: Make a decision:
If the p-value is less than the significance level (α), we reject the null hypothesis and conclude that there is evidence to suggest that the population proportions are not the same for all three populations. If the p-value is greater than α, we fail to reject the null hypothesis and do not have enough evidence to suggest a difference in population proportions.
Note: To perform the chi-squared test, we need to have the observed frequencies and expected frequencies. The observed frequencies are given in the sample data, but we would need additional information to calculate the expected frequencies.
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Question 4 (2 points) Which component of the policyholder's coverage is most expensive? Their uninsured motor vehicle coverage Their medical payments coverage Their liability coverage Their collision coverage
Answers
Their medical payments coverage
If you put up $45,000 today in exchange for a 6.4 percent, 15-year annuity, what will the annual cash flow be
Answers
The annual cash flow would be $4,755.18.
What would be the annual cash flows?The first step is to determine the future value of the lump sum amount: $45,000 x (1.064)^15 = $114,113.48
The second step is to determine the value of the equal cash flows. The formula that would be used is: future value / annuity factor
Annuity factor = {[(1+r)^n] - 1} / r
=[ (1.064)^15 - 1] / 0.064 = 23.97735
$114,113.48 / 23.97735 = $4,755.18
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plants are in threatened state and getting rare. Discuss in the class and prepare a list of causes of rareness of animals and plants. 5.3.1 Rare Animals
Answers
A group of creatures that are extremely rare, scarce, or infrequently encountered is referred to as a rare species.
Even though extinctions happen naturally, the pace of plant and animal extinctions today is substantially higher than it was previously. The main factor contributing to greater extinction rates is habitat loss.
The introduction of harmful nonnative species, pollution, disease transmission, and habitat changes are some additional causes. Overexploitation of wildlife for commercial gain is another. Species that are in risk of going extinct include those plants and animals that have become so scarce.
Animals and plants that are threatened with extinction across all or a sizable portion of their range are those that are very likely to do so in the near future. The most species are in danger from overuse of natural resources, such as overfishing, overhunting, and deforestation of forests. The extension of land for agriculture, cattle, wood, and aquaculture is another significant industry in the world.
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In an episodic model of conflict, there is a trigger that opens up conflict that had been latent.
Answers
In an episodic model of conflict, The conflict is exposed by something, and the cycle repeats with the subsequent conflict incident.
What are the levels of conflict?There are four levels: intrapersonal (inside an individual), interpersonal (between two parties), intergroup (between groups), and interorganizational (between organisations) (inter-organizational conflict).
What causes episodic memory to occur?In order to aid in the recovery of episodic memory, emotional, semantic understanding, olfactory, auditory, and visual aspects might serve as cues or contextual information. You may, for instance, use the colour of a sign you parked next to or the structure's floor to help you remember where you parked your car.
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3. Consider the organization you are currently working in and explain this organization from systems characteristics perspectives particularly consider objective, components (at least three) and interrelationships among these components with specific examples.
Answers
The organization i am working is Adelak organization having the objectives of production of software as well as electronic devices,
The organization components are ;
Production Department Marketing and Sales DepartmentSupply Chain and Logistics: What is an organization?An organization is a group of people who cooperate, such as a firm, neighborhood association, charity, or union. The term "organization" can be used to describe a person, a group, a company, or the process of creating or developing anything.
An organization is a group of people who are working together to achieve a common purpose or objective. In other words, one could say that an organization is a setting where individuals get together to carry out various tasks and responsibilities in support of the organization's objectives.
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Hart Company made 3,040 bookshelves using 22,040 board feet of wood costing $271,092. The company's direct materials standards for one bookshelf are 8 board feet of wood at $12.20 per board foot.
AQ = Actual Quantity SQ = Standard Quantity AP = Actual Price SP = Standard Price (1) Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (2) Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Compute the direct materials price and quantity variances and classify each as favorable or unfavorable. (Indicate the effect of each variance by selecting for favorable, unfavorable, and no variance.) Actual Cost Standard Cost $ 0 Required 1 Required 2 > Required 1 Required 2 Hart applies management by exception by investigating direct materials variances of more than 5% of actual direct materials costs. Which direct materials variances will Hart investigate further? Which direct materials variances will Hart investigate further? Direct lapor enciency variance ( Required 1 Direct labor rate variance Direct materials price variance Direct materials quantity variance Total direct materials variance Total variable overhead cost variance (1) Prepare the journal entry to charge direct materials costs to Work in Process Inventory and record the materials variances.
(2) Assume that Hart's materials variances are the only variances accumulated in the accounting period and that they are immaterial. Prepare the adjusting journal entry to close the variance accounts at period-end. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare the journal entry to charge direct materials costs to Work in Process Inventory and record the materials variances. View transaction list Journal entry worksheet Record price and quantity variances. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal View transaction list Journal entry worksheet Record closing of price and quantity variances to cost of goods sold. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal
Answers
1. a. The computation of the direct materials price variance is as follows:
= $2,204 ($12.20 - $12.30) x 22,040) Unfavorable
1.b. The computation of the direct materials quantity variance is as follows:
= $27,816 (24,320 - 22,040) x $12.20) Favorable
2. The direct materials variance that Hart will investigate further is the direct materials quantity variance, which is 10.3% ($27,816/$271,092 x 100) of the actual direct materials costs instead of the direct materials price variance, which is only 0.8% of the actual direct materials costs.
3. The journal entry to charge direct materials costs to Work in Process Inventory and record and close the materials variances are as follows:
a. Recording the Direct Materials Costs and Variances
Debit Work in Process $296,704 ($12.20 x 8 x 3,040)
Debit Direct Materials Price Variance $2,204
Credit Direct Materials Quantity Variance $27,816
Credit Raw Materials $271,092
To record the charge of direct materials to work in process based on standard cost.b. Closing the Direct Materials Variances:
Debit Direct Materials Quantity Variance $27,816
Credit Direct Materials Price Variance $2,204
Credit Cost of Goods Sold $25,612
To close direct materials variances to the cost of goods sold.Data and Calculations:
Units of bookshelves produced = 3,040
Feet of board used = 22,040
Cost of board feet of wood = $271,092
Per Unit Standard Actual
Price $12.20 $12.30 ($271,092/22,040)
Board feet 8 7.25 (22,040/3,040)
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Assume a hypothetical consumer good X and good Y. the price of good X is 1 and price of good Y is 3 and the consumer budget is birr 10 for the two goods. where: Qx is quantity of good X, Qy is quantity of good Y and TUx and TUy is total Utility from consuming good X and Good Y respectively
Qx. TUx. Qy TUy
0. 0. 0. 0
1. 10 1. 24
2. 19. 2. 45
3. 27 3. 63
4. 34. 4. 78
5. 40. 5. 87
6. 44. 6. 90
A. Determine the quantities of the two goods that the consumer should buy in order to maximize his total utility
Answers
To maximize total utility, the consumer should buy 4 units of good X and 5 units of good Y.
To determine the quantities of goods X and Y that would maximize the consumer's total utility, we need to consider the principle of marginal utility. Marginal utility is the additional utility gained from consuming one additional unit of a good.
In this case, we can observe the changes in total utility as the quantities of goods X and Y increase. Looking at the given table, we can see that the marginal utility of good X starts at 10 (from consuming the first unit) and gradually decreases, while the marginal utility of good Y starts at 24 and also decreases but at a slower rate.
To maximize total utility, the consumer should allocate their budget in such a way that the marginal utility per birr spent on each good is equal. This implies that the consumer should keep buying more of a good until the marginal utility per birr spent on it equals the marginal utility per birr spent on the other good.
From the given data, we can observe that the marginal utility per birr spent on good X is highest in the beginning but decreases faster compared to good Y. On the other hand, the marginal utility per birr spent on good Y is lower initially but decreases at a slower rate. Therefore, the consumer should allocate more of their budget towards good X in the beginning and gradually shift towards purchasing more of good Y as its marginal utility decreases at a slower pace.
Based on the table, it appears that the consumer's total utility is maximized when they buy 4 units of good X and 5 units of good Y. At this point, the marginal utility per birr spent on both goods becomes relatively equal (8 for both goods). Further increasing the quantities would result in a decrease in marginal utility per birr spent.
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Mr Ashok has a company, and has an option to issue different types of preference shares. State all the types preference shares a company can issue.
Answers
Cumulative preference shares: These are types of shares where shareholders are given the right to receive dividends for those years where dividends could not be paid due to insufficient profits.
Non-cumulative preference shares: These are types of shares where shareholders are not given the right to receive dividends for those years where dividends could not be paid due to insufficient profits.
Participating preference shares: With participating preference shares, the issuing company must pay an increased dividend to the owners of preference shares if there is a participation clause in the share agreement. This clause states that a certain portion of earnings (or of the dividends issued to the owners of common stock) will be distributed to the owners of preferences shares in the form of additional dividends.
Convertible preference shares: These are preference shares that can be converted into common stock if a shareholder wants to change its holding position. They are converted into a predetermined number of preference stocks.
Non-convertible preference shares: These are preference shares where the holder of a preference share has not been conferred the right to get their holding converted into equity share.
Redeemable preference shares: These are preference shares that can be repurchased or redeemed by the issuing company at a fixed rate and date.
In summary, a company can issue different types of preference shares, including cumulative, non-cumulative, participating, convertible, non-convertible, and redeemable preference shares.
Give an alphabetical list of manufacturers who have had products sold from June 1, 2015 through June 30, 2015 inclusive. Only show manufacturer names. NOTE: Do NOT use date functions, use date literals to test for the range of dates.
Answers
The corrected SQL query to obtain the alphabetical list of manufacturers who have had products sold from June 1, 2015, through June 30, 2015 given below. The SQL command required for scenario is given a follows:
--> SELECT DISTINCT ManufacturerName--> FROM SimplifiedSales--> WHERE SaleDate BETWEEN '2015-06-01' AND '2015-06-30'--> ORDER BY ManufacturerName;How do these SQL query help to select the values?This query selects the distinct ManufacturerName values from the SimplifiedSales table where the SaleDate is between June 1, 2015, and June 30, 2015, inclusive. The ORDER BY clause orders the results alphabetically by ManufacturerName.
It's important to use the DISTINCT keyword to eliminate duplicates, and to ensure that the result is sorted by the specified column to meet the requirements of the question.
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The aging of accounts receivable for Brett Company as of December 31 of the current year and estimated percentages of uncollectible accounts by age
group are presented in the table below. Calculate the estimate of uncollectible accounts expense. The balance of Allowance for Uncollectible Accounts
on December 31, before the adjusting entry is recorded, is a $236.89 credit
Age Group
Amount
Percent Uncollectible
Current
$16,485.18
20%
1-30
12,489.05
4.0%
31-60
6,958 18
80%
61-90
4,218 21
20.0%
Over 90
3,157 10
70.0%
$43,307 72
Current Balance of Allowance for Uncollectible Accounts
Estimated Addition to Allowance for Uncollectible Accounts
Answers
Answer:
hey
Explanation:
What are three advantages and three disadvantages of globalization
Answers
Denzel Corporation is planning to issue bonds with a face value of $730,000 and a coupon rate of 7.5 percent. The bonds mature in 6 years and pay interest semiannually every June 30 and December 31. All of the bonds were sold on January 1 of this year. Denzel uses the effective-interest amortization method and also uses a discount account. Assume an annual market rate of interest of 8.5 percent. (FV of $1, PV of $1, FVA of $1, and PVA of $1)
Note: Use appropriate factor(s) from the tables provided.
Required:
1. and 2. Prepare the journal entries to record the issuance of the bonds and interest payment on June 30 of this year.
3. What bonds payable amount will Denzel report on its June 30 balance sheet?
Answers
1. and 2. The journal entries to record the issuance of the bonds on January 1 and the interest payment on June 30 are as follows:
Journal Entries:January 1 Debit Cash $696,236
Debit Bond Discounts $33,764
Credit Bonds Payable $730,000
To record the issuance of the bonds.June 30 Debit Interest Expense $29,590
Credit Bonds Amortization $2,215
Credit Cash $27,375
To record the first payment of interest.3. The Bonds Payable on June 30 will be reported in the balance sheet as $698,451.
Bond face value = $730,000
Bonds proceeds = $696,236
Bond discount = $33,764 ($730,000 - $696,236)
Coupon rate = 7.5%
Market rate = 8.5%
Bond maturity period = 6 years
Interest payment = semiannually
Amortization method = Effective interest
N (# of periods) = 12 (6 x 2)
I/Y (Interest per year) = 8.5%
PMT (Periodic Payment) = $27,375
FV (Future Value) = $730,000
Results:
PV = $696,236.06
Sum of all periodic payments = $328,500.00
Total Interest = $362,263.94
Transaction Analysis:January 1 Cash $696,236 Bond Discounts $33,764 Bonds Payable $730,000
June 30 Interest Expense $29,590 Bonds Amortization $2,215 Cash $27,375
Bonds Payable on June 30 = $698,451 ($696,236 + $2,215)
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Commerce Corporation has a high probability of operating at 40,000 activity hours during the upcoming period, and lower probabilities of operating at 30,000 hours and 50,000 hours. The company's flexible budget revealed the following: 30,000 Hours 40,000 Hours 50,000 Hours Variable costs $ 135,000 $ 180,000 $ 225,000 Fixed costs 720,000 720,000 720,000 If Commerce operated at 35,000 hours, its total budgeted cost would be: Multiple Choice $810,000. $997,500. $787,500. $945,000. $877,500.
Answers
Answer:
Total cost= $877,500
Explanation:
First, we need to calculate the unitary variable cost:
Unitary variable cost= 135,000 / 30,000= $4.5
Unitary variable cost= 180,000 / 40,000= $4.5
Unitary variable cost= 225,000 / 50,000= $4.5
Now, the total cost for 35,000 hours:
Total cost= Unitary variable cost*total number of hours + fixed costs
Total cost= 4.5*35,000 + 720,000
Total cost= $877,500
The Waterfall Buffet is self-service. From 9:00 a.m. to 12:00 p.m. customers arrive at the buffet
at a rate of five per minute; from 12:00 a.m. to 4:00 p.m the gallery is closed; and from 4:00 p.m. to closing at 9:00 p.m., at a rate of six per minute (Poisson distributed). All the customers take about the same amount of time to serve themselves and proceed to the buffet. Once a customer goes through the buffet, it takes an average of 0.4 minute (exponentially distributed) to pay the cashier. The gallery does not want a customer to have to wait longer than one minutes to pay. The gallery plan to set up three cashiers. Will this number be adequate to meet the
waiting policy?
Answers
Three cashiers may not be adequate to meet the waiting policy during peak hours. Galleries may need to hire additional cashiers or take other measures to reduce customer wait times during peak hours.
How did we arrive at this assertion?To gallery whether three cashiers are sufficient to enforce the waiting policy, we need to calculate the estimated wait time for customers at the counter.
Determine the average number of customers per minute at the buffet for each time period.
9:00 AM - 12:00 PM: λ1 = 5 customers/minute
16:00 - 9:00: λ2 = 6 customers/minute
It is closed between 12:00 and 16:00, so no guests. Apply Little's law to determine the average number of customers in the system.
L = λW
where L is the average number of customers in the system, λ is the arrival rate, and W is the average time spent in the system.
Assuming that customers spend the same amount of time at the buffet as at checkout, the average system time can be determined as follows:
W = 2 × 0.4 min = 0.8 min
So the average number of customers in the system is:
L1 = λ1 × W = 5 customers/min × 0.8 min = 4 customers
L2 = λ2 × W = 6 customers/min × 0.8 min = 4.8 customers
The M/M/c queuing model is then used to determine the expected wait time at the cashier. Arrival at Poisson, service time allocated exponentially and three cash (c = 3)
wq = (ρ ^ c / c / c! × (c × λ)) / (1 -ρ)
Here ρ = μ / (C × μ + λ) traffic resistance and μ = 1 / 0.4 minutes = 2.5 consumer / min.
Use the above value and evaluate the waiting waiting time.
ρ1 = λ1 / (c × mμ) = 5 customer / min / min / (cash × consumers / min) = 0.67
ρ2 = λ2 / (c × μ) = 6 client / division / (3 cash cash, × 2.5 consumer / min) = 0.8
Wq1 = (0.67 ^ 3/6 × 3/6 × (3 × 2.5 consumers / minute customer / min) / (1-0.67) = 0.14 minutes
Wq2 = (0.8 ^ 3/6 × (3 × 2.5 consumers / minutes consumers / minutes) / (1-0.8) = 0.64 minutes
We will add the waiting time expected to the cashier to consume the expected time for the customer.
Tq1 = 0.88.8 minutes + 0.14 minutes = 0.94 minutes
Tq2 = 0.8 minutes + 0.64 minutes = 1.44 minutes
According to this calculation, the expected waiting time is 9-12. Less than a minute coincides with atmospheric policy. However, the estimated waiting time for customers is between 16:00 and 21:00. More than 1 minute non-compliance with the waiting policy.
Therefore, 3 cashiers may not be enough to enforce the waiting policy during peak hours.
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How are state Insurance Guaranty Associations funded?
Answers
Every state has a guarantee fund that is created by legislation. To safeguard policyholders in the event that an insurer goes bankrupt or is unable to pay its debts, a state's insurance commissioner maintains guarantee funds.
It is possible for a borrower to approach a bank for a loan since a guarantee fund offers a loan or credit guarantee. When a borrower lacks adequate security, such as real estate or other assets, guarantees can be quite helpful. The lack of (enough) collateral is practically universal among small borrowers. Guarantee insurance entails that an insurance firm, rather than a bank, provides a guarantee to your business.
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The job of president of the United States falls under the Foreign Service pathway of the Government and Public Administration cluster.
Answers
True, The President of the United States has a position that comes within the Government and Public Administration cluster's Foreign Service track.
What does a US Foreign Service agent do?Foreign Service Officers are crucial connections with other governments, interact with foreign populations, inform and influence U.S. foreign policy, and advance American interests abroad. They also work on issues pertaining to the safety and security of American citizens wherever they may be.
What sets the State Department's civil service and foreign service apart?Employees of the Foreign Service represent America abroad while those of the Civil Service assist the mission from Washington, D.C. or other locations around the country. Foreign Service workers both live and work abroad.
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Which of the following is/are part of the activities and responsibilities of product and servicedesign?a.Translate product/service specifications into process specifications. Develop newproducts/services. Construct and test prototypes. Formulate cost targets.b.Formulate quality goals, translate customer wants and needs into requirements,document specifications, refine existing products and services
Answers
The activities that part of the product or service design are: translate customer wants and needs into requirements, document specifications, construct and test prototypes, formulate cost targets.
Although the product development process varies by industry, it may be divided into seven stages: idea, research, planning, prototype, testing, costing, and commercialization.
Customer requirements are the specifications or attributes of a product or service that customers perceive required. These specifications encourage customers to purchase a product or service. Companies might research their target market to understand their goals and needs in order to develop client requirements.
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Which 2 reasons that cause a large amount in the opening balance equity
Answers
One of the reasons that could be causing this balance is that the client has added transactions in the Banking Center without assigning an account to them.
What is Bookkeeping?This refers to the financial activity of keeping financial records of a company for accounting purposes.
The second reason can be that the client entered an Opening Balance when creating a new Other Current Asset account
Opening balances were included when importing Customers, using the Import Data tool
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A manufacturing company that produces a single product has provided the following data concerning its most recent month of operations:
Selling price
Units in beginning inventory
Units produced
Units sold
Units in ending inventory
Variable costs per unit:
Direct materials
Direct labor
Variable manufacturing overhead
Variable selling and administrative expense
Fixed costs:
Fixed manufacturing overhead
Fixed selling and administrative expense
The total gross margin for the month under absorption costing is:
$
$
$
$
143
e
2,820
2,770
50
47
23
14
11
$95,880
$19,390
Answers
The total gross margin for the month under absorption costing is $16,120.
What is the total gross margin?Total variable cost per unit:
Direct materials cost per unit = $44Direct labor cost per unit = $19Variable manufacturing overhead per unit = $13Variable selling and administrative expenses per unit = $12Total variable cost per unit:
= Direct materials cost per unit + Direct labor cost per unit + Variable manufacturing overhead per unit + Variable selling and administrative expenses per unit
= $44 + $19 + $13 + $12
= $88
Total fixed costs:
Fixed manufacturing overhead = $85,260Fixed selling and administrative expenses = $16,440Total fixed costs:
Fixed manufacturing overhead + Fixed selling and administrative expenses
= $85,260 + $16,440
= $101,700
Total gross margin:
= (Selling price per unit - Total variable cost per unit) * Units sold - Total fixed costs
= ($131 - $88) * 2,740 - $101,700
= $43 * 2,740 - $101,700
= $117,820 - $101,700
= $16,120.
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omeowner's Insurance Premium
Home Owner's Policy Comparison Deductible
Policy 1 $1,600
Policy 2 $2,000
Which statement below correctly compares the premium prices for these insurance policies?
A. Policy 2 will have a higher premium because it has a lower
deductible than Policy 1.
B. Policy 1 will have a higher premium because it has a lower
deductible than Policy 2.
C. Policy 2 will have a higher premium because it has a higher
deductible than Policy 1.
D. Policy 1 will have a lower premium because it has a lower
deductible than Policy 2.
Answers
The correct statement that compares the premium prices for these insurance policies is:
B. Policy 1 will have a higher premium because it has a lower deductible than Policy 2.
In the context of insurance policies, the deductible is the amount the policyholder must pay out of pocket before the insurance coverage kicks in.
A lower deductible means the insurance company will have to cover a larger portion of the claim, which typically leads to a higher premium.
Policy 1 has a lower deductible of $1,600 compared to Policy 2's deductible of $2,000.
Therefore, Policy 1 will likely have a higher premium because the insurance company would bear a greater portion of the claim costs.
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How accurately can managers plan for future human resources needs?
Answers
Answer:
Planning for future human resources needs is not an exact science. There are many contributing factorsthat can alter the plan. Planners have to account for promotions, retirements and employees leaving aswell as how sales affect the number of people needed.
credits to coursehero.
As students interested in business, what resonated most with you?
In your life and work experience have you seen similar themes and/or
situations as presented in the Lorax?
Can you imagine an instance in your future work experience where this might
come up?
What would you do if facing this type of situation, or how might you prevent it
from occurring?
Answers
Some of the relevant facts about the Lorax book that can be related to everyday life and work experiences is about human actions that impact the environment.
How to prevent the same thing as in Lorax from happening in real life and at work?The plot of the book demonstrates a place where everything is artificial, like trees, which are no longer natural and are replaced by plastic. This situation can be imagined as a form of reflection for individuals to become aware of the importance of natural resources.
In factories there is a lot of use of natural resources that are scarce to be transformed into goods, and it is possible that every individual who has worked in companies has observed some negative impact of such activities on nature.
Therefore, to prevent such a situation as the one in the book from occurring, it is essential that every citizen and company is aware of their responsibility for sustainability, instituting simple measures to achieve this end, such as recycling, reducing consumerism and including environmental management.
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George believes he could be a savvy investor, he wants to invest in stocks but he is confused on what stocks to choose and which is better. George decided to ask you for your opinion on which is better? Common or preferred stocks. Why?
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An ownership share in a firm is provided to investors by common stock. Many corporations only produce common stock, and common stock trades on stock markets much more frequently than preferred stock. Compared to regular stock, preferred stock frequently functions more like a bond. Dividend yields on preferred stock are frequently substantially greater than dividend yields on ordinary stock and thus are fixed at a specific rate, whereas dividends for common stock are subject to adjustment or even elimination. The price at which a business will finally redeem preferred shares is also fixed.
What are Common stock and Preferred Stock?Common stock is a type of investment that represents ownership in an organization. Common stock owners choose the board members and cast ballots for corporate rules. Common stock is a type of financial instrument that represents ownership in a company.
A type of stock called preferred stock combines the features of bonds and equities. Like bonds, preferred stock pay dividends in cash and frequently offers better yields than bonds while being less risky than common stock.
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In the trial balance, all the accounts with debit balances are listed before the accounts with credit balances.
True
False
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Answer:
False
Explanation:
The trial balance is prepared at the end of a counting period after all the accounts have been closed. The trial balance captures all the debits on one side and credits on the other. If the trial balance does not balance, it signifies errors in the general ledger. A balanced trial balance does not guarantee the absence of errors.
In preparing a trial balance, accountants usually follow the order of accounts as they follow each other as per the general ledger. It is not a requirement that either debits or credits come first.
the legal affairs attorney working at AMD would most likely occupy an
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The legal affairs attorney working at AMD would most likely occupy an in-house counsel position.
What is inhouse counselAn in-house counsel is a lawyer who is employed by a company or organization to provide legal advice and representation on a range of legal issues related to the company's operations, contracts, intellectual property, compliance, and litigation.
The role of an in-house counsel is to ensure that the company's actions and policies comply with relevant laws and regulations and to represent the company in legal proceedings when necessary. The in-house counsel works closely with the company's executives and employees to provide legal guidance and to identify and mitigate potential legal risks.
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Explain three rights that consumers have when buying a service for example hiring a plumber to install a new shower
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The three consumer rights that consumers have when buying a service are the right to be informed, the right to choose, the right to safety.
What are consumer rights?The Consumer Bill of Rights protects consumers. Consumers have the right to be informed, the right to choose, the right to safety, the right to be heard, the right to have problems corrected, the right to consumer education, and the right to service, according to the bill.
Access to essential goods and services such as adequate food, shelter, clothing, health care, education, and sanitation - basic needs that should be available to all consumers - is defined as service.
Therefore, consumer right are essential when buying a service.
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the standard time required per unit of a product is 20 minutes. in a day of 8 working hours a worker gives an output of 30 units. if he gets a time rate of ` 20 per hour his total earning under halsey bonus scheme is
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The bonus earned by the worker would be 30% of 2 hours, which is equal to 0.3 * 2 * $20 = $12.
The Halsey bonus scheme is a productivity-based incentive system that provides workers with a bonus based on the time saved in completing their assigned tasks. Under the Halsey bonus scheme, the worker receives a percentage of the time saved as a bonus.
In this scenario, the standard time required per unit of a product is 20 minutes, which is equivalent to 1/3 of an hour (20/60). The worker is able to produce 30 units in a day of 8 working hours, which means the total time taken for production is 30 units * 1/3 hour per unit = 10 hours.
Since the worker works for 8 hours in a day, the time saved is 10 hours - 8 hours = 2 hours. According to the Halsey bonus scheme, the worker is entitled to a percentage of the time saved as a bonus. The Halsey system typically allocates 30% of the time saved as a bonus.
Therefore, the bonus earned by the worker would be 30% of 2 hours, which is equal to 0.3 * 2 * $20 = $12.
In summary, under the Halsey bonus scheme, the worker's total earning would include the regular wages for 8 hours of work, which is 8 * $20 = $160, along with the bonus earned, which is $12. Hence, the worker's total earning under the Halsey bonus scheme would be $160 + $12 = $172.
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