The answer is True. Only four obligations are owed by the agent to the principal: performance, notification, obedience, and accounting notification.
The refusal of an agent to perform an unlawful or tortious conduct for a principal does not violate the agent's duty of allegiance to the principal and will not subject the principal to liability. Any transaction governed by the agency cannot result in a hidden profit for the agent.
Two types of obligations exist between the agent and the principal: fiduciary and general. The fiduciary duty is the obligation to always behave in the principal's best interests. In this case, that means avoiding self-dealing and maintaining confidentiality.
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in sparsely populated areas, companies often have a virtual monopoly due to the limited choices available to customers. however, they risk losing customers to competitors if they set high prices that are not supported by the value they offer. customers who are likely to switch over to alternatives if available are known as .
Customers who are likely to switch over to alternatives if available are known as vulnerable customers.
The advantages and practicalities of shopping around while renewing financial goods may be less clear to vulnerable customers, and they might be digitally excluded. By providing similarly effective alternatives, substitute products give customers more options when making purchases, hence enhancing utility.
Nonetheless, alternate products foster competition from a company's perspective. As a result, when fighting for market share, businesses may pay large marketing and promotional costs, which consequently lower operating earnings. Due to competing items vastly surpassing their own offerings, some businesses are even forced out of business.
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reak-even sales under present and proposed conditions portmann company, operating at full capacity, sold 1,000,000 units at a price of $189 per unit during the current year. its income statement is as follows: sales $189,000,000 cost of goods sold (99,000,000) gross profit $90,000,000 expenses: selling expenses $14,000,000 administrative expenses 18,400,000 total expenses (32,400,000) operating income $57,600,000 the division of costs between variable and fixed is as follows: variable fixed cost of goods sold 70% 30% selling expenses 75% 25% administrative expenses 50% 50% management is considering a plant expansion program for the following year that will permit an increase of $11,340,000 in yearly sales. the expansion will increase fixed costs by $3,000,000 but will not affect the relationship between sales and variable costs. required: 1. determine the total variable costs and the total fixed costs for the current year. total variable costs $fill in the blank 1 116,000,000 total fixed costs $fill in the blank 2 15,400,000 2. determine (a) the unit variable cost and (b) the unit contribution margin for the current year. unit variable cost $fill in the blank 3 unit contribution margin $fill in the blank 4 3. compute the break-even sales (units) for the current year. fill in the blank 5 units 4. compute the break-even sales (units) under the proposed program for the following year. fill in the blank 6 units 5. determine the amount of sales (units) that would be necessary under the proposed program to realize the $57,600,000 of operating income that was earned in the current year. fill in the blank 7 units 6. determine the maximum operating income possible with the expanded plant. $fill in the blank 8 7. if the proposal is accepted and sales remain at the current level, what will the operating income or loss be for the following year? $fill in the blank 9 income 8. based on the data given, would you recommend accepting the proposal? in favor of the proposal because of the reduction in break-even point. in favor of the proposal because of the possibility of increasing income from operations. in favor of the proposal because of the increase in break-even point. reject the proposal because if future sales remain at the current level, the income from operations will increase. reject the proposal because the sales necessary to maintain the current income from operations would be below the current year sales. choose the correct answer. b
Total variable costs for the current year: To calculate this, we need to find the variable portion of each expense and multiply it by the respective expense amount.
Cost of goods sold:
Variable portion = 70% of $99,000,000 = $69,300,000
Selling expenses:
Variable portion = 75% of $14,000,000 = $10,500,000
Administrative expenses:
Variable portion = 50% of $18,400,000 = $9,200,000
Total variable costs = $69,300,000 + $10,500,000 + $9,200,000 = $89,000,000
Total fixed costs for the current year: This is given as $32,400,000.
Unit variable cost for the current year: This is calculated by dividing the total variable costs by the number of units sold.
Unit variable cost = $89,000,000 / 1,000,000 units = $89 per unit
Unit contribution margin for the current year: This is calculated by subtracting the unit variable cost from the selling price per unit.
Unit contribution margin = $189 - $89 = $100 per unit
Break-even sales (units) for the current year: This is calculated by dividing the total fixed costs by the unit contribution margin.
Break-even sales (units) = $32,400,000 / $100 = 324,000 units
Break-even sales (units) under the proposed program for the following year: Since the proposed program does not affect the relationship between sales and variable costs, the unit contribution margin remains the same as in the current year. The fixed costs for the following year are given as $3,000,000. Therefore, the break-even sales (units) under the proposed program would be:
Break-even sales (units) = $3,000,000 / $100 = 30,000 units
Sales (units) necessary to realize the $57,600,000 of operating income earned in the current year: This is calculated by adding the operating income to the total fixed costs, and then dividing by the unit contribution margin.
Sales (units) necessary = ($57,600,000 + $32,400,000) / $100 = 904,000 units
Maximum operating income possible with the expanded plant: This is calculated by adding the proposed increase in sales ($11,340,000) to the current operating income.
Maximum operating income = $57,600,000 + $11,340,000 = $69,940,000
Operating income or loss for the following year if the proposal is accepted and sales remain at the current level: This would be the same as the current year's operating income, as the sales are assumed to remain at the current level.
Operating income = $57,600,000
Based on the data given, the correct answer is: in favor of the proposal because of the possibility of increasing income from operations. (Option b) as the maximum operating income possible with the expanded plant is higher than the current year's operating income.
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You need to be sure that the prices chosen for each room type are:
Attracting visitors looking for a good deal, High enough to cover costs and turn a profit, competitive with nearby motels.
What class of hotel is it?Hotels can be divided into several categories, including those based on their size, location, services, star rating, and facilities. The most prevalent classifications for hotels are property type and service level (full or limited) (full-service resort, limited-service hotel, and so on).
How do basic and standard rooms differ?Basic lodgings are similarly small but marginally larger than a budget, and they have a window with a restricted outlook. For instance, standard rooms are more roomy and come with a view of the city. Budget, basic, and standard lodgings are small in size, and the same is true of the restrooms.
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Question:
When setting room rates in a hotel, what are the factors to consider to ensure that the prices chosen for each room type are:
Appealing to guests shopping for good value
Competitive with neighborhood hotels
High enough to cover costs and create profit
1. what is the relationship between consumption and the following economic variables: household income, wealth, household's expectations about the future, and interest rates? m,
Consumption is influenced by household income, wealth, expectations about the future, and interest rates. Higher income and wealth typically lead to increased consumption, while positive expectations and lower interest rates can also boost consumption levels.
The relationship between consumption and various economic variables can be summarized as follows:
1. Household income: Consumption is positively correlated with household income. As income increases, people tend to consume more goods and services. This is because higher income enables households to satisfy their basic needs and afford additional goods and services, thereby increasing their overall consumption.
2. Wealth: Consumption is also positively related to wealth. Wealthier households have more resources available to spend on consumption, which leads to higher levels of consumption. This can include not only financial wealth (savings, investments) but also non-financial wealth (real estate, durable goods).
3. Household's expectations about the future: Expectations about the future can have a significant impact on consumption. If households are optimistic about their future income or the overall economy, they are more likely to increase their consumption in anticipation of higher future income. Conversely, if they are pessimistic about their future prospects, they may cut back on consumption to save for potential future difficulties.
4. Interest rates: The relationship between consumption and interest rates is generally negative. When interest rates are high, borrowing becomes more expensive, which can discourage households from consuming and encourage saving. Conversely, when interest rates are low, borrowing becomes cheaper, which may lead to higher consumption levels as households are more likely to take loans to finance purchases.
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organizational buying behavior is similar to consumer behavior in some ways and different in others. common to both is that they multiple choice are affected by derived demand. use the same five stages in the buying decision process. have virtually unlimited options for suppliers. rely on gatekeepers to control product information. use formal vendor ratings when choosing among alternative brands.
The five stages in the buying decision process are common to both organizational buying behavior and consumer behavior, and both are affected by derived demand.
What are five stages in the buying decision processThe five stages in the buying decision process that are common to both organizational buying behavior and consumer behavior are:
Problem recognitionInformation searchEvaluation of alternativesPurchase decisionPost-purchase evaluationBoth organizational buying behavior and consumer behavior are affected by derived demand. In other words, the demand for products or services in both cases is driven by the demand for another product or service.
For example, the demand for smartphones leads to the demand for smartphone accessories like cases, headphones, etc.
Therefore, both types of buyers are affected by derived demand.
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you want to invest in two stocks that will provide you with the most diversified portfolio. you should select the two stocks with which one of these correlation values?
You should select the two stocks with a negative correlation value to invest in when it comes to most diversified portfolio.
The two stocks with negative correlation values are the ones to choose if you want to choose two stocks that will provide you the most diverse portfolio. When two stocks have a negative correlation, one stock rises when the other falls and vice versa. In this manner, your portfolio will be balanced if one stock performs poorly, and the other stock performs well.
The statistical concept of correlation expresses the strength of a relationship between two variables as a value that ranges from +1.0 to -1.0. The degree of correlation between the price changes of the various assets included in diversified portfolios is represented by correlation.
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you are in charge of purchases at the student-run used-book supply program at your college, and you must decide how many introductory calculus, history, and marketing texts should be purchased from students for resale. due to budget limitations, you cannot purchase more than 650 of these textbooks each semester. there are also shelf-space limitations: calculus texts occupy 2 units of shelf space each, history books 1 unit each, and marketing texts 4 units each, and you can spare at most 1,000 units of shelf space for the texts. if the used book program makes a profit of $10 on each calculus text, $4 on each history text, and $8 on each marketing text, how many of each type of text should you purchase to maximize profit? hint [see example 3.]
College should focus on selling 500 calculus books to make a Profit.
The total amount of textbooks that can be acquired depending upon the limitation is = 650
there is limited shelf space designated for books = 1000
therefore,
Shelf space obtained by the subject
Calculus History Marketing
2 1 4
Profit per book $10 $4 $8
Profit per shelf-space $5 $4 $2
therefore the highest Profit generated from shelf space is $5 from calculus.
so, the calculated highest Profit encountered that the college made by purchasing used calculus books = 5 x 1000 => 5000
then, the books that should be purchased to increase Profit is
= 5000/10
=500
therefore,
College should focus on selling 500 calculus books to make a Profit.
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people basically borrow in order topart 2a.have current consumption rather than waiting to consume in the future.b.have more funds.c.have interest payments.d.go into debt.
People basically borrow in order to have current consumption rather than waiting to consume in the future. So, correct option is A.
Borrowing enables individuals or organizations to acquire goods and services immediately and pay for them later, instead of having to wait and save up enough funds to make the purchase outright.
Borrowing can be a necessary part of personal and business financial planning. For example, a person may need to take out a loan to purchase a house or car, or a business may need to borrow money to finance capital projects or invest in new equipment.
By borrowing money, individuals and businesses can smooth their consumption over time and make investments that can generate future income or returns.
However, borrowing also comes with costs, such as interest payments and fees. It is important for borrowers to carefully consider the terms and conditions of their loans and ensure that they are able to repay the borrowed funds according to the agreed-upon schedule.
Therefore, correct option is A.
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analyzing threat and hazard information enables the planning team to: a. develop justification for the purchase of additional resources. b. identify capabilities needed to manage associated risks. c. establish triggers for requesting assistance. d. focus planning efforts on threats/hazards that can be handled at the local level.
Option b: analyzing threat and hazard information enables/lets/allows the planning team to figureout/identify capabilities needed to manage associated risks.
A business organisation (company) can define incident management as a strategic process through which it identifies, analyses, and resolves hazards and potential threats (problems) in order to ensure that normal service operation is quickly restored to its end users following a disruption and to prevent a recurrence of these hazards in the future.
The process of identifying, evaluating, analysing, and controlling possible risks (threats) that could pose a threat to a company's capital, assets, revenues, and profits is known as risk management.
In this context, we can infer and rationally deduce that the planning team is able to effectively and efficiently identify capabilities that are required by conducting an analysis of all threat and hazard information.
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companies often use derivatives to reduce the risk of adverse changes in all of the following except a.foreign currency exchange rates. bmodity prices. c.inventory prices. d.interest rates.
Companies often use derivatives to reduce the risk of adverse changes in foreign currency exchange rates, commodity prices, and interest rates, but not in inventory prices. Thus option C will be correct.
Derivatives are used by businesses to mitigate the risk of adverse shifts in financial marketplaces. Derivatives are contracts whose worth is determined by the value of a fundamental object, such as foreign currency exchange rates, commodity values, or interest rates.
Companies can safeguard themselves from the uncertainty of price changes and prevent major financial losses by using derivatives. However, derivatives are rarely used to protect against product price fluctuations. Rather than using financial tools, businesses can control inventory risks through effective supply chain management and strategic pricing.
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the following are budgeted data: january february march sales in units 16,100 22,200 19,100 production in units 19,100 20,100 18,600 one pound of material is required for each finished unit. the inventory of materials at the end of each month should equal 30% of the following month's production needs. purchases of raw materials for february would be budgeted to be: group of answer choices 19,650 pounds 20,550 pounds 18,450 pounds 20,150 pounds
To determine the budgeted purchases of raw materials for February, we need to first calculate the production needs for February and March, as follows:
Production needs for February = 20,100 units x 1 pound per unit = 20,100 pounds
Production needs for March = 18,600 units x 1 pound per unit = 18,600 pounds
Next, we need to calculate the required inventory of materials at the end of January and February, based on the 30% of the following month's production needs:
Required inventory of materials at the end of January = 30% x 20,100 pounds = 6,030 pounds
Required inventory of materials at the end of February = 30% x 18,600 pounds = 5,580 pounds
To determine the budgeted purchases of raw materials for February, we need to subtract the required inventory at the end of January from the production needs for February, and then add the required inventory at the end of February:
Budgeted purchases of raw materials for February = (20,100 pounds - 6,030 pounds) + 5,580 pounds = 19,650 pounds
Therefore, the budgeted purchases of raw materials for February would be 19,650 pounds.
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by building aircrafts in china, airbus is risking that knowledge transfer will occur and that its secrets could be transferred to its competitors. group of answer choices true false
When a company engages in manufacturing or other business activities in a foreign country, such as building aircrafts in China, there is a risk of knowledge transfer and potential exposure of trade secrets to competitors. The correct option is: true.
This is because the local workforce and partners may gain access to the company's proprietary information, manufacturing processes, and technology, which could be shared or used by competitors to gain an advantage in the market. Companies need to carefully manage and protect their intellectual property and trade secrets through legal measures, contracts, and internal controls to minimize the risk of knowledge transfer and protect their competitive advantage.
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an individual taxpayer purchased a scooter costing $1,000 and a jet ski costing $8,000 both for personal use. during the current year, the taxpayer sold the scooter for $800 and the jet ski for $9,000. what gain or loss does the taxpayer recognize?
An individual taxpayer purchased a scooter costing $1,000 and a jet ski costing $8,000 both for personal use. During the current year, the taxpayer sold the scooter for $800 and the jet ski for $9,000. 0 loss and $1,000 gain the taxpayer recognizes.
A taxpayer is an individual or entity that is required to pay taxes to a government or other authority. Taxpayers are typically required to pay taxes on their income, property, goods, services, or other transactions. The amount of taxes that a taxpayer is required to pay can vary depending on a variety of factors, including their income level, tax deductions and credits, and the specific tax laws in their jurisdiction.
Governments use tax revenues to fund public services and programs, such as healthcare, education, infrastructure, and national defense. As such, taxpayers play an important role in supporting the functioning of their society and ensuring that essential public services are available to all citizens.
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suppose the price of gasoline is $1.60 per gallon. is the quantity demanded higher or lower than at the equilibrium price of $1.40 per gallon? what about the quantity supplied? is there a shortage or a surplus in the market? if so, how much?
Assuming that the equilibrium price is indeed $1.40 per gallon, then at a price of $1.60 per gallon, the quantity demanded would be lower than the equilibrium quantity demanded.
This is because a higher price generally results in lower demand, as consumers may choose to purchase less gasoline or seek alternative modes of transportation.
On the other hand, the quantity supplied at a price of $1.60 per gallon would likely be higher than the equilibrium quantity supplied, as suppliers would have an incentive to produce and sell more gasoline at a higher price.
Therefore, there would likely be a surplus in the market, with the quantity supplied exceeding the quantity demanded. The size of the surplus would depend on the specific quantities supplied and demanded at the two different prices.
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Someone who will personally suffer from a risk happening has
*
A. Subrogation
B. Proximate clause
C. An insurable risk
D. An uninsurable risk
Someone who will personally suffer from a risk happening has C. An insurable risk
What is an An insurable riskAn insurable risk refers to a risk that an insurance company is willing to cover because it meets certain criteria, one of which is that the person or entity seeking insurance must have an insurable interest in the property or potential loss. This means that the person must have a financial or other kind of interest in the property or potential loss being insured.
In the context of the given options, subrogation refers to the right of an insurer to pursue legal action against a third party responsible for a loss after the insurer has paid a claim to the insured. Proximate cause is a legal term that refers to the cause that sets in motion a sequence of events leading to an injury or loss. An uninsurable risk refers to a risk that an insurance company is not willing to cover due to the high likelihood of a loss occurring or because it is illegal or against public policy to do so.
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a treasury bill purchased in december 2020 has 84 days until maturity and a bank discount yield of 3.38 percent. assume a $100 face value. a. what is the price of the bill as a percentage of face value? (do not round intermediate calculations. round your answer to 3 decimal places.)
To calculate the price of the treasury bill as a percentage of face value, we can use the bank discount yield formula:
Bank Discount = Face Value x Discount Rate x Time
Price = Face Value - Bank Discount
First, we need to convert the bank discount yield to a decimal by dividing it by 100:
Discount Rate = 3.38% / 100 = 0.0338
Next, we can plug in the given values:
Bank Discount = $100 x 0.0338 x (84/360) = $0.8357
Price = $100 - $0.8357 = $99.1643
Finally, we can calculate the price as a percentage of face value:
Price as % of Face Value = (Price / Face Value) x 100%
= ($99.1643 / $100) x 100%
= 99.1643%
Therefore, the price of the treasury bill as a percentage of face value is 99.1643%.
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a business organization should always use the equity method to account for an investment if: group of answer choices it has the ability to exercise significant influence over the operating policies of the investee. it owns 35% of another company's voting stock. it has a controlling interest (more than 50%) of another company's stock. the investment was made primarily to earn a return on idle cash. it does not have the ability to exercise significant influence over the operating policies of the investee.
A business organization should always use the equity method to account for an investment if it has the ability to exercise significant influence over the operating policies of the investee. Option 1 is correct.
The equity method is an accounting method used to account for investments in which the investor has the ability to exercise significant influence over the investee's operating policies. Under the equity method, the investor records its share of the investee's net income or loss as a single line item on its income statement.
This means that the investor has the power to participate in the financial and operating policy decisions of the investee without having control over them. Owning 35% of another company's voting stock does not necessarily mean that the investor has significant influence over the operating policies of the investee. Having a controlling interest (more than 50%) of another company's stock would require the investor to use the consolidation method, not the equity method.
Making an investment primarily to earn a return on idle cash is not a sufficient reason to use the equity method. Finally, if the investor does not have the ability to exercise significant influence over the operating policies of the investee, it would not be appropriate to use the equity method. Option 1 is correct.
The complete question is
A business organization should always use the equity method to account for an investment if:
Group of answer choices
It has the ability to exercise significant influence over the operating policies of the investee. It owns 35% of another company's voting stock. it has a controlling interest (more than 50%) of another company's stock. the investment was made primarily to earn a return on idle cash. It does not have the ability to exercise significant influence over the operating policies of the investee.To know more about the Investment, here
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review question 7 again. lets assume you use the cash advance option to take out $1100 cash. what is the beginning balance based on this scenario?
Assuming that you have a credit card with an available cash advance limit, if you use the cash advance option to take out $1100 in cash, then your beginning balance will increase by $1100.
This is because a cash advance is essentially a loan from the credit card company, which is added to your balance and accrues interest immediately.
For example, if your credit card had a zero balance before you took out the cash advance, then your beginning balance after the cash advance would be $1100.
On the other hand, if you already had a balance on your credit card before taking out the cash advance, then your beginning balance would be the sum of your existing balance and the cash advance amount.
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if a consultant provides consulting services in june, but the bill is not due from the client until july, the account debited by the consultant in june to record the transaction is:
The account that an expert debits in June to document the transaction is accounts receivable if consulting services are provided in June but the customer is not required to pay until July.
Accounts payable is the term used to describe the amount of money due to a company for goods or services delivered or used but not yet paid for by customers. (AR). Accounts due are displayed as current assets on the balance sheet. The term AR refers to any amount that customers are due for purchases they made using credit. The unpaid invoices or funds that clients owe a company are known as accounts receivable. The phrase refers to assets that a business is qualified to receive as compensation for goods or services rendered. Receivables, also referred to as accounts due, is a business's line of credit that usually has terms requiring payments to be made within a reasonable amount of time.
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if a consultant provides consulting services in june, but the bill is not due from the client until july, the account debited by the consultant in june to record the transaction is: _____________
suppose the probability of an irs audit is 2.9 percent of us tax payers who file form 1040 and who earned $100,000.00 or more. what are the odds that the tax payer will be audited?
The probability of an IRS audit for U.S. taxpayers who file Form 1040 and earned $100,000 or more is given as 2.9%.
To calculate the odds, we need to convert the probability to odds. Odds are defined as the ratio of the probability of an event occurring to the probability of the event not occurring. Mathematically, odds are expressed as:
Odds = Probability of event occurring / Probability of event not occurring
In this case, the probability of being audited is 2.9%, or 0.029, and the probability of not being audited is 100% - 2.9%, or 97.1%, which can be expressed as 0.971.
Plugging these values into the formula, we get:
Odds = 0.029 / 0.971
Odds = 0.029 / 0.971 ≈ 0.0299
So, the odds of a taxpayer who filed Form 1040 and earned $100,000 or more being audited by the IRS is approximately 0.0299, or about 1 in 33.4. This means that for every 33.4 taxpayers in this category, on average, one taxpayer is expected to be audited by the IRS.
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an individual purchased two automobiles for personal use. automobile 1 had an adjusted basis of $20,000, and automobile 2 had an adjusted basis of $10,000. the individual sold automobile 1 for $15,000 and automobile 2 for $15,000. what gain or loss should the individual recognize on the sales of the automobiles?
The gain or loss that the individual should recognize on the sales of the automobiles as an individual purchased two automobiles for personal use. Automobile 1 had an adjusted basis of $20,000, and automobile 2 had an adjusted basis of $10,000. The individual sold automobile 1 for $15,000 and automobile 2 for $15,000. The individual should recognize a loss of $5,000 on the sale of automobile 1.
if a person made money or lost money when they sold their cars, the person lost money on car 1, but neither made nor lost money on car 2.
The adjusted basis is less than the selling price of car 1, so the person has a loss of $5,000.
On the other hand, the selling price of car 2 is the same as its adjusted basis.
This means that car 2 has neither a gain nor a loss.
So, the person should report a loss of $5,000 when he or she sells car 1.
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constanza, who is single, sells her current personal residence (adjusted basis of $165,000) for $450,000. she has owned and lived in the house for 30 years. her selling expenses are $22,500. what is constanza's realized and recognized gain? constanza's realized gain is $fill in the blank 1 and her recognized gain would be $fill in the blank 2 .
Constance's realized gain and recognized gain are $262,500 and $240,000, respectively.
:Given,Constance is single.
Constance sells her current personal residence (adjusted basis of $165,000) for $450,000.Constance has owned and lived in the house for 30 years.Her selling expenses are $22,500.
In the given problem, we need to calculate the realized gain and recognized gain.Realized gain refers to the increase in property value between the time of acquisition and the time of sale. While the recognized gain is the taxable gain that is reported to the IRS to determine any taxes owed.
Here,Adjusted basis of Constance's personal residence = $165,000
Selling price of residence = $450,000Selling expenses = $22,500
Hence,Constance's realized gain = Selling price - Adjusted basis of the personal residence - Selling expenses= $450,000 - $165,000 - $22,500= $262,500
Constance's recognized gain = Constance's realized gain - Exclusion amount= $262,500 - $250,000 (exclusion for a single homeowner)= $12,500
Therefore,Constance's realized gain is $262,500 and her recognized gain would be $12,500.
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if an insurer adds a provision into the contract that is specifically stated, this is known as a/an a implied warranty. b representation. c assumed warranty. d express warranty.
An express warranty is one that an insurer adds to the contract that is expressly mentioned. Here option D is the correct answer.
An express warranty is a promise made by the insurer to the insured that is explicitly stated in the insurance contract. It can take many forms, including written or verbal statements, advertisements, or product labels. An express warranty is a legally binding promise that the insured can rely on.
One of the key features of an express warranty is that it is explicit and specific. It is not left to interpretation or inference. The insurer must clearly state the terms and conditions of the warranty for it to be enforceable. This is in contrast to an implied warranty, which is not explicitly stated but is instead inferred from the circumstances of the transaction.
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your credit card company charges you 1.45 percent per month. what is the apr on your credit card?
The APR on your credit card is approximately 19.56%. The APR (Annual Percentage Rate) on your credit card represents the annualized interest rate you will be charged on your outstanding balance.
To calculate the APR from the monthly interest rate, you will need to convert the monthly rate to an annual rate. You mentioned that your credit card company charges you 1.45% per month. To find the APR, you can use the following formula:
[tex]APR = (1 + Monthly Interest Rate)^{12} - 1[/tex]
First, convert the percentage to a decimal by dividing by 100:
1.45% = 0.0145
Next, plug the decimal into the formula:
[tex]APR = (1 + 0.0145)^{12} - 1[/tex]
Now, calculate the result:
[tex]APR = (1.0145)^{12} - 1\\APR = 0.1956[/tex]
Finally, convert the result back into a percentage:
APR ≈ 0.1956 × 100
APR ≈ 19.56%
So, the APR on your credit card is approximately 19.56%. This means that, if you were to maintain a constant outstanding balance on your card for a full year, you would be charged roughly 19.56% of that balance in interest. Keep in mind that the actual interest you pay might be different depending on how your credit card company calculates interest and how you manage your payments and balance throughout the year.
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a company uses the percent of sales method to determine its bad debts expense. at the end of the current year, the company's unadjusted trial balance reported the following selected amounts: accounts receivable $ 362,000 debit allowance for uncollectible accounts 570 debit net sales 807,000 credit all sales are made on credit. based on past experience, the company estimates that 0.3% of net credit sales are uncollectible. what amount should be debited to bad debts expense when the year-end adjusting entry is prepared?
The amount to be debited to Bad Debts Expense when the year-end adjusting entry is prepared is $1,851.
First, need to calculate the estimated amount of uncollectible accounts based on the company's net credit sales:
Net Credit Sales = Gross Sales - Sales Returns and Allowances
Net Credit Sales = $807,000 - $0 (assumed)
Net Credit Sales = $807,000
Estimated Uncollectible Accounts = Net Credit Sales x Estimated Percentage of Uncollectible Accounts
Estimated Uncollectible Accounts = $807,000 x 0.3%
Estimated Uncollectible Accounts = $2,421
To adjust the allowance for uncollectible accounts to the estimated amount of uncollectible accounts, we need to increase the allowance by the difference between the current allowance balance and the estimated amount:
Adjustment to Allowance for Uncollectible Accounts = Estimated Uncollectible Accounts - Current Allowance for Uncollectible Accounts
Adjustment to Allowance for Uncollectible Accounts = $2,421 - $570
Adjustment to Allowance for Uncollectible Accounts = $1,851
Finally, need to record the bad debts expense by debiting the Bad Debts Expense account and crediting the Allowance for Uncollectible Accounts account:
Bad Debts Expense | $1,851, Allowance for Uncollectible Accounts | $1,851.
Therefore, the amount to be debited to Bad Debts Expense when the year-end adjusting entry is prepared would be $1,851.
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true or false: a pe ratio that is based on estimated future earnings is called a regressive pe ratio. true false question. true false
The given statment is False because P/E ratio that is based on estimated future earnings is not called a regressive P/E ratio. Instead, it is called a forward or prospective P/E ratio. A forward P/E ratio uses projected earnings to calculate the price-to-earnings ratio, providing a more future-oriented valuation for a company.
A forward P/E ratio uses projected earnings to calculate the price-to-earnings ratio, providing a more future-oriented valuation for a company. Identify the question: The question asks whether a P/E ratio based on estimated future earnings is called a regressive P/E ratio.
Define the term: The P/E ratio, or price-to-earnings ratio, is a financial metric that investors use to determine the relative value of a company's stock. It is calculated by dividing the stock's current market price by its earnings per share (EPS). Explain the concept: There are two main types of P/E ratios - trailing and forward. The trailing P/E ratio is based on a company's past earnings, while the forward P/E ratio is based on estimated future earnings. The forward P/E ratio is more focused on a company's future prospects, which can provide a more accurate assessment of a stock's value, especially for growing companies with increasing earnings.
Answer the question: A P/E ratio based on estimated future earnings is not called a regressive P/E ratio. Instead, it is called a forward or prospective P/E ratio.Conclusion: The statement in the student question is false. When evaluating a company's stock value based on estimated future earnings, the correct term to use is forward or prospective P/E ratio, not regressive P/E ratio. So, the given statement is false.For more such question on earnings visit:
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to which of the following categories of services does a cell phone belong? hybrid major service with accompanying minor goods pure service pure tangible good tangible good with accompanying services
These goods can be consumed, used up, or discarded. Consumers can physically inspect, try out, or test tangible goods before purchasing them.
However, once they are purchased, it is challenging to customize or modify them according to individual preferences. What are accompanying services? Accompanying services are services that are offered along with a tangible product. These services might be pre-sales or post-sales. Pre-sales services refer to the support provided before purchasing a product, such as help with selecting the right product or providing information on product specifications. Post-sales services refer to support provided after purchasing a product, such as installation, repair, or maintenance assistance. These services can help enhance the value of the tangible goods by providing added convenience, support, or value. What category of service does a cell phone belong to?A cell phone is a tangible good with accompanying services.
Consumers can physically touch and try out the device before purchasing it. Additionally, phone manufacturers provide pre-sales services such as customer support, financing options, and product specifications. Post-sales services include repairs, warranty coverage, and software updates. Therefore, a cell phone belongs to the category of tangible goods with accompanying services.
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a buyer purchases a house for $150,000. the buyer puts 30% of the $150,000 down, and a lender provides the remaining 70% in a mortgage. what is the loan-to-value ratio
The loan-to-value ratio is 70%. It measures the amount of financing provided by a lender relative to the purchase price.
The advance to-esteem (LTV) proportion in this situation is 70%. The LTV is a proportion of how much funding given by a moneylender comparative with the worth of the resource being bought. For this situation, the purchaser buys a house for $150,000 and puts down 30% of the price tag as an initial investment, while the loan specialist gives the leftover 70% as a home loan.
The LTV proportion is determined by partitioning the home loan sum by the price tag of the house and duplicating by 100 percent. With a home loan measure of $105,000 and a price tag of $150,000, the subsequent LTV proportion is 70%, showing that the bank has funded 70% of the price tag of the house.
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most substantive audit procedures performed on cash are directed toward which assertion? accuracy. accuracy, valuation, and allocation. existence. completeness.
Existence most substantive audit procedures performed on cash are directed toward which assertion. The answer is OPTION C
Substantive procedures are designed to generate evidence that an auditor can use to support the claim that there are no significant misstatements in an entity's financial records in terms of completeness, validity, and accuracy. Substantive procedures are audit tests or methods designed by an auditor to evaluate the company's financial statements.
Which require the auditor to create conclusive evidence for verifying the completeness, accuracy. Substantive testing is an audit process that looks for errors in financial statements and accompanying documentation. These tests are required as evidence to support the claim that an entity's financial records are complete, valid, and accurate. Hence the answer is OPTION C.
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which of the following provides a measure of market attractiveness in the bcg (boston consulting group) approach? group of answer choices return on marketing investment relative market share market sentiment market growth rate brand image
In the Boston Consulting Group (BCG) approach, the market attractiveness is measured by the market growth rate. Option (d)
The BCG matrix is a tool used for portfolio analysis and strategy development. It categorizes a firm's products or services into four quadrants: cash cows, dogs, stars, and question marks. The market growth rate represents the rate at which the market for a particular product is growing.
A higher market growth rate indicates a more attractive market, while a lower rate indicates a less attractive one. The BCG approach uses this measure, along with relative market share, to determine a product's position within the portfolio and develop appropriate strategies.
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Which of the following provides a measure of market attractiveness in the BCG (Boston Consulting Group) approach?
A. Return on marketing investment
B. Relative market share
C. Market sentiment
D. Market growth rate
E. Brand image