On January 1, 2019, Company A acquired 100% of the voting common stock of Company B from Company B’s shareholders. Prior to the transaction, Company A had 11,440 shares of voting common stock outstanding and Company B had 5,000 shares of voting common stock outstanding. Which of the following terms or conditions of the transaction is an indicator that Company B is the acquiring entity for accounting purposes? a. The full slate of the Board of Directors is elected every two years. Company A Directors (from before the transaction) occupy 8 of the 12 seats on Company A’s Board after the acquisition. Company B Directors (from before the transaction) occupy 4 of the 12 seats on Company A’s Board after the acquisition.b. Company A issued 14,560 new shares of Company A common stock to execute the transaction.c. Company A changed its name to "Company B."d. Immediately after the transaction, Company B’s Chief Operating Officer became Company A’s Chief Operating Officer. All other executive positions were held by Company A executives
Answers
Answer: b. Company A issued 14,560 new shares of Company A common stock to execute the transaction.
Explanation:
The terms or conditions of the transaction which is an indicator that Company B is the acquiring entity for accounting purposes is that Company A issued 14,560 new shares of Company A common stock to execute the transaction.
The above scenario was chosen because when 14,560 shares are being held, the former shareholders that were in company B will own:
= 14,560/(11,440 + 14,560)
= 14560/26000
= 56% of common stock.
Because 56% of common stock is being own by them means that the company is being controlled by them as they own majority and therefore the board will be elected by them for the next two years.
Related Questions
Paying off your debts will most likely____ your credit score.
A. decrease
B. increase
C. ruin
D. not impact
Answers
Explanation: When you are on time with paying your bills, your credit score rises by paying off debts, taxes, car payments, house taxes and etc.
Answer:
increase
Explanation:
P acquires 80 000 of the ordinary shares by paying cash of M175 000 and issuing one share in P for every two shares acquired on 1 July 20x4. The market value of P’s shares was M1.25 at the 1 July 20X4 and £1.40 at the year end. Extracts from the financial statements of S at 31 December 20X4 are: M Ordinary share capital 100,000 Retained earnings 225,000 The profit after tax for the year ended 31 December 20X4 was M60 000 and no dividends have been paid. Since acquisition S has sold goods to P at M45 000 and at the year-end a quarter of these were unsold with S earning a profit margin of 20%. P had paid a cheque of M45 000 to S just before the year end but S had not received the cheque at the year end. Requirement a) Calculate the goodwill arising on acquisition, using the proportionate method, and discuss the accounting treatment of goodwill in the consolidated financial statements of the P group. [3 marks] b) Calculate the non-controlling interest at 31 December 20X4. [1 mark] c) Prepare consolidation adjustments to reflect the cancellation of intra group balances. [1 mark]
Answers
This question involves accounting for a business combination where company P acquires 80,000 ordinary shares of company S by paying cash and issuing its own shares.
The market value of P's shares is given, and financial information for S is provided to calculate the goodwill arising from the acquisition using the proportionate method, which involves calculating the fair value of net assets acquired and comparing it to the consideration paid.
In part (a), the accounting treatment of goodwill in the consolidated financial statements of the P group is also required. Goodwill is an intangible asset that arises when the consideration paid for an acquisition exceeds the fair value of the identifiable net assets acquired. In consolidated financial statements, goodwill is initially recognized as an asset and subsequently tested for impairment.
The impairment test involves comparing the carrying amount of goodwill to its recoverable amount, which is the higher of its fair value less costs of disposal and its value in use. Any impairment losses are recognized in the income statement.
Part (b) requires calculating the non-controlling interest, which represents the portion of S that is not owned by P. This is calculated by multiplying the post-acquisition profit or loss of S by the non-controlling interest percentage.
Finally, part (c) requires making consolidation adjustments to reflect the cancellation of intra-group balances. This involves eliminating any intra-group balances and transactions between P and S to avoid double counting of assets and liabilities in the consolidated financial statements.
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It usually takes less time to buy a six-pack of Pepsi, a loaf of bread, and a bag of potato chips at a small convenience store (such as 7-Eleven) than at a large, full-service grocery store. Which of the following persons is most likely to buy these items at a convenience store?
a. a person who is out of work 70.
b. a person with a high opportunity cost of time 71
c. a person with a low opportunity cost of time 72
d. a person who works at a full-service grocery store
Answers
Answer:
a person who works at a full-service grocery store
Question 4 of 10
During a depression or recession, which of the following is most likely to
happen to interest rates?
A. Interest rates will likely decrease as the Federal Reserve Board
increases inflation rates.
O B. The Federal Reserve Board will likely lower interest rates.
O C. Interest rates will likely rise as the Federal Reserve board
decreases inflation rates.
O D. The Federal Reserve Board will likely raise interest rates.
SUBMIT
Answers
B.The federal reserve board will likely lower interest rates
Explanation:
pa brainliest po ako png taga sagot ng mga new question
What is another advantage of empowerment?
Multiple Choice
It provides a morale boost to inexperienced or failing employees.
It hides internal problems from the customer.
It requires frontline employees in an organization to decrease contact with their managers
It is an intangible way that service organizations reward employees.
Answers
Answer:
i believe it's A) It provides a morale boost to inexperianced or failing employees.
Explanation:
The another advantage of empowerment is that it provides a morale boost to inexperienced or failing employees. The empowerment in business means knowing how to "humanize" the work environment so management and employees work together to enhance productivity and achieve greater personal and professional success.
What is Empowerment?
The Empowerment refers to the delegation of some authority and responsibility to employees and involving them in the decision-making process, not in mere job activities, but rather at all the levels of management.
The purpose of empowerment is to facilitate decision-making at lower levels of the organization where the employees can offer a unique idea and suggestion about the problem being faced by the organization at a certain level.
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PLEASE HELP!! This is economics/business work. Will give brainliest if correct!!
Answers
On June 15, 2021, Allen sold land held for investment to Stan for $65,000 and an installment note of $300,000 payable in five equal annual installments beginning on June 15, 2022, plus interest at 10%. Allen’s basis in the land is $255,500. What amount of gain is recognized in 2021 under the installment method?
Answers
The amount of gain that will be recognized in 2021 under the installment method, is $27, 857 . 14
How to find the gain recognized?First, find the profit margin on the land sold by Allen to Stan:
= ( Selling price of land - Allen's basis in the land) / Allen's basis in the land
= ( ( 300, 000 + 65, 000) - 255, 500) ) / 255, 500
= 109, 500 / 255, 500
= 42. 857 %
The gain to be recognized, using the installment method is:
= Profit margin x Amount paid by Allen in 2021
= 42. 857 % x $ 65, 000
= $27, 857 . 14
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Unlike separate taxpaying entities. _______ entities do NOT pay taxes. Rather, owners of these entities pay taxes on income generated by the entities.
Answers
Unlike individual taxable entities, flow-through entities do not pay taxes. Rather, these company owners pay taxes on the income generated by the company.
What is flow-through entity?A flow-through entity is a company in which revenue is passed directly to shareholders, owners, or investors. As a result, only individuals, not companies, are taxed on their income, avoiding double taxation. All of the following are flow-through entities: Foreign partnership (excluding withholding tax) Foreign simple or foreign trust company (excluding withholding tax)
What types of flow-through entity are there?There are following type of flow-through entity: Sole proprietors, partnerships (limited, general, and limited partnerships), LLCs, and S corporations are all types of flow-through entities.
What's the difference between a C Corp and a flow-through entity?flow-through entity, all taxes are paid in the year the income is reported. In a C corporation, taxes on the gain on the sale of shares are deferred at the shareholder level until the shares are sold.
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Which type of market is the one in which a person buys their favorite breakfast sandwich at a fast-food drive-thru?
A Product market
B Factor market
C Financial market
D Closed market
Answers
The type of market is the one in which a person buys their favorite breakfast sandwich at a fast-food drive-thru is Financial market which makes option C to be correct.
What is Financial market?Financial Markets can be described as any place or system which help the buyers and sellers to have a means to trade financial instruments.
These instrument could be , bonds, equities as well as the various international currencies, and derivatives, hence ,The type of market is the one in which a person buys their favorite breakfast sandwich at a fast-food drive-thru is Financial market.
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Answer:
B
Explanation:
The following are the Dent000 cash on a building that cost $90,000, the rest was borrowed (5 year pay back) December 10 - Purchased supplies on credit for $4,200 December 14 - Paid cash wages to employees who worked in December for the business for $950. December 21 - Completed a job for $2,900 on credit. December 30 Received a bill for $300 for utilities used during December that will be due in January. December 31 Paid cash dividends of $100 to stockholders. a. Show the accounts affected by each transaction and how they are affected. For example – Purchasing supplies: cash (current asset) decreased $500; supplies (current asset) increased $500) OR you may use the accounting equation Excel template b. Prepare an income statement, statement of stockholders’ equity & balance sheet for December. (Financial statements are created for all transactions for the entire fiscal year.)
Answers
Total Liabilities and Stockholders' Equity in the given case is $100,900
a. December 10 - Purchased supplies on credit for $4,200
Accounts affected: Supplies (current asset) increased $4,200; Accounts Payable (current liability) increased $4,200.
December 14 - Paid cash wages to employees who worked in December for the business for $950.
Accounts affected: Wages Expense (income statement) increased $950; Cash (current asset) decreased $950.
December 21 - Completed a job for $2,900 on credit.
Accounts affected: Accounts Receivable (current asset) increased $2,900; Service Revenue (income statement) increased $2,900.
December 30 - Received a bill for $300 for utilities used during December that will be due in January.
Accounts affected: Utilities Expense (income statement) increased $300; Accounts Payable (current liability) increased $300.
December 31 - Paid cash dividends of $100 to stockholders.
Accounts affected: Dividends (stockholders' equity) decreased $100; Cash (current asset) decreased $100.
b.Income Statement for December:
Service Revenue: $2,900
Total Revenue: $2,900
Wages Expense: $950
Utilities Expense: $300
Total Expenses: $1,250
Net Income: $1,650
Statement of Stockholders' Equity for December:
Beginning Balance: $0
Add: Net Income: $1,650
Subtract: Dividends: $100
Ending Balance: $1,550
Balance Sheet as of December 31:
Assets:
Cash: $3,800 ($4,900 - $950 - $300 - $100)
Supplies: $4,200
Accounts Receivable: $2,900
Building: $90,000
Total Assets: $100,900
Liabilities:
Accounts Payable: $4,500 ($4,200 + $300)
Total Liabilities: $4,500
Stockholders' Equity:
Common Stock: $0
Retained Earnings: $96,400 ($94,850 + $1,550)
Total Stockholders' Equity: $96,400
Total Liabilities and Stockholders' Equity: $100,900
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If Amelia would like to double her money in twelve years, how much interest does she need to earn O 12 percent O 16.6 percent O 6 percent 10 percent
Answers
Out of the given answer choices, the interest rate that Amelia needs to earn to double her money in twelve years is 16.6 percent.
To find out how much interest Amelia needs to earn to double her money in twelve years, we need to use the compound interest formula.
This formula is used to determine the future value of an investment based on the principal, the interest rate, the number of compounding periods, and the time involved.
The formula is as follows: FV = PV x (1 + r/n)^(n*t)where FV = future value, PV = present value (the amount of money Amelia currently has), r = annual interest rate, n = number of times the interest is compounded per year, and t = time in years.
To double her money, Amelia needs to have a future value that is twice her present value. Therefore, we can set FV = 2PV and solve for r.
2PV = PV x (1 + r/n)^(n*t)Dividing both sides by PV, we get:2 = (1 + r/n)^(n*t)
Taking the natural logarithm of both sides, we get: ln(2) = ln[(1 + r/n)^(n*t)]
Using the power rule of logarithms, we can simplify the right side of the equation to ln(2) = (n*t) ln(1 + r/n)
Dividing both sides by (n*t), we get:ln(2) / (n*t) = ln(1 + r/n)
Finally, we can solve for r by raising both sides as the power of e: e^(ln(2) / (n*t)) = 1 + r/n
Subtracting 1 from both sides and multiplying by n, we get:r = n x (e^(ln(2) / (n*t)) - 1)
Plugging in the values given, we get:r = n x (e^(ln(2) / (n*12)) - 1)
We don't know the value of n, so we can try each of the answer choices to see which one gives us a value of r that works.
Using a financial calculator or a spreadsheet program like Excel, we can calculate the values of r for each interest rate.
Using 12 percent: r = 1 x (e^(ln(2) / (1*12)) - 1) = 0.0956 or 9.56 percent
Using 16.6 percent: r = 1 x (e^(ln(2) / (1*12)) - 1) = 0.1407 or 14.07 percent
Using 6 percent: r = 1 x (e^(ln(2) / (1*12)) - 1) = 0.0488 or 4.88 percent
Using 10 percent: r = 1 x (e^(ln(2) / (1*12)) - 1) = 0.0794 or 7.94 percent
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Brandywine Clinic, a not-for-profit business, had revenues of $10.7 million last year. Expenses other than depreciation totaled 75 percent of revenues, and depreciation expense was $2.1 million. All revenues were collected in cash during the year, and all expenses other than depreciation were paid in cash. Now, suppose the company changed its depreciation calculation procedures (still within GAAP) such that its depreciation expense was halved. How would this change affect Brandywine's net income
Answers
Answer:
net income will increase by $1,050,000
Explanation:
current net income = ($10.7 million x 25%) - $2.1 million = $575,000
if depreciation expense is cut by half, then new net income will be:
new net income = ($10.7 million x 25%) - $1.05 million = $1,625,000
this means that net income will increase by $1,625,000 - $575,000 = $1,050,000
The earnings you receive as a saver or an investor reflect:
past interest rates
a risk premium based on length of the savings period
expected deflation
the extent of certainty about getting your money back
a positive credit rating
Answers
When we receive earnings as savers or as investors, these earnings are meant to reflect a risk premium based on length of the savings period.
What are earnings based on?The earnings that we receive are based on the risk that we incurred for investing our money in whatever venture we invested it into.
This means that the earnings of investors and savers are basically a premium on the risk that we incurred in the savings period.
In conclusion, earnings are a risk premium based on length of the savings period.
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what is the background of the unilever company?
Answers
Answer:
Ueliever somthing i forgot
Explanation:
Read each question and choose the best answer.
Which set of markets includes all purely competitive markets?
A. plastic trash bags, school backpacks, action/adventure movies
O B. children's wood blocks, dry pasta, plain t-shirts
O C. designer jeans, video game consoles, crime novels
OD. reality television shows, bowling alleys, sneakers
Answers
The set of markets that includes all purely competitive markets is option B, which includes the children's wood blocks, dry pasta, and plain t-shirts.
What are competitive markets?Competitive markets are markets in which many buyers and sellers interact to determine prices and quantities of goods and services. In a competitive market, no single buyer or seller has control over the price or quantity of the product being traded, as each participant is considered to be a price taker. In such markets, there is free entry and exit, meaning that new firms can easily enter the market to compete with existing firms and earn profits. Competitive markets are characterized by low barriers to entry, perfect information, homogenous products, and efficient allocation of resources. Prices in a competitive market reflect the underlying supply and demand conditions, and fluctuations in supply or demand can quickly affect the equilibrium price and quantity.
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Accounting is used to communicate financial information to both internal audiences and external audiences. Internal users are:
a. Only people within a business's accounting and finance departments
b. People within the business like production managers
c. Suppliers that provide goods
d. Contractors that perform work for the business.
Answers
Accounting can be regarded as a term used in communicating financial information across to internal audiences as well as external audiences.
These Internal users are been regarded as people within the business, such as production manager.
These information help in making the financial aspect of the company to succeed.
Therefore, option B is correct.
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Constructing professional memo please help!!!!!! Quickly!!!!!
Answers
Memos are known for being succinct, direct, and simple to read. Despite being less official than letters, they nonetheless need to be written in a formal, concise manner.
A receipt or a cash memo?It provides information on the goods, including rate, amount, and number. Typically, they are printed and serially numbered. It is made in two copies. Since it differs from a receipt, cash memos do not need to be stamped.
What does memo in banking mean?In a bank memo, the routing information and bank account details associated with a company's business account are listed. It is normally written on bank letterhead and either a banker's signature or a teller's stamp is used.
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True or False? LEED green building system is not an external quality system.
Answers
LEED green building system is not an external quality system. This is false.
What is green building?It should be noted that the green building simply means a building that helps in the elimination of the negative impact on our climate.
A green" building is one that minimizes or eliminates harmful effects on our climate and natural environment during design, construction, or operation. It can also have positive effects. Green structures protect priceless natural resources and raise our standard of living.
In this case, LEED green building system is an external quality system.
Therefore, the correct option is is false.
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Statement: "We have permitted ourselves to be stampeded into a life of unnatural and dangerous high pressure. We pace
ourselves by machines instead of by our natural rhythm."
Proposed Assumption: The rapid pace of our lives does not help us to achieve our goals.
Assumption made
Assumption not made
Answers
The Statement: "We have permitted ourselves to be stampeded into a life of unnatural and dangerous high pressure is onw where Assumption was not made.
What is a true assumption?If a person make an assumption that something is said to be true or will take place, the person need to accept that it is true or that it will occur, often without any kind of proof.
When you look at the statement above, there is no fact to prove that the said assumption is true and therefore, the Statement: "We have permitted ourselves to be stampeded into a life of unnatural and dangerous high pressure is onw where Assumption was not made.
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What aspects do financial institutions like the Bank of Rhode Island assess before granting funding to businesses
Answers
Answer:
Financial institutions assess the probability of the business paying the loan back, and to do so, they evaluate the financial position of the business, mainly using financial ratios to do so.
For example, to analyze liquidity, the use liquidity rations like the current ratio, the acid test, and the cash ratio.
The also analyze the firm from a revenue standpoint, meaning that the financial institution tries to determine how profitable the company is, and how its profitability will evolve in the term of the loan. To do so, they use asset turnover ratios, economic value added ratios, net income, and even the weighted average cost of capital.
A free enterprise system provides individuals the opportunity to make their own economic decisions, without restrictions from the government. It allows the supply and demand of consumers to determine the success or failure of an economic endeavor. As a result, some business owners have become successful, while others have not.
In an essay, you will choose an entrepreneur and argue whether the free enterprise system was necessary for that individual to make an impact on the business world.
Answers
The entrepreneur that is chosen for this argument is Steve Jobs. Steve Jobs was one of the co-founders of Apple, which is now a trillion-dollar company.
The free enterprise system was necessary for Steve Jobs to make an impact on the business world. Steve Jobs did not come from a wealthy background, but he had a passion for technology. The free enterprise system allowed him to start a business without any restrictions from the government.
He was able to create innovative products, such as the iPhone and iPad, and sell them to consumers. The supply and demand of consumers determined the success or failure of his business endeavors. Steve Jobs was able to create a successful company and become a billionaire because of the free enterprise system.
Without the free enterprise system, Steve Jobs may not have been able to start a successful business and make an impact on the business world.
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_____ refers to the idea that all organizational members are capable of leading themselves at least to some extent. a. Leadership commitment b. Organizational capability c. Internal commitment d. Self-leadership
Answers
Answer:
Option d (Self-leadership) seems to be the appropriate response.
Explanation:
Self-leadership seems to be a process through recognizing whoever you are, defining certain ideal perceptions, as well as consciously leading yourself towards yourself. It, therefore, tells people who you are, but whether you're a certain kind of individual individuals would like to emulate.Other possibilities aren't connected to the circumstance in question. So that is indeed the right choice.
for individuals the economic term specialization refers to
Answers
In economics, the term "specialization" refers to the process by which individuals, firms, or countries focus their efforts on producing a limited range of goods or services.
It involves concentrating on a specific area of expertise or skill set rather than trying to produce everything that is needed. Specialization is driven by the concept of comparative advantage, which suggests that individuals or entities should allocate their resources to the activities they can perform most efficiently compared to others. By specializing, individuals can take advantage of their unique skills, knowledge, and resources to increase productivity and efficiency.
Specialization often leads to increased productivity because individuals can become more proficient and experienced in their specialized area. This efficiency gains from specialization can be attributed to factors such as the ability to develop specific expertise, use specialized tools or technology, and benefit from economies of scale.
Furthermore, specialization promotes trade and exchange between individuals, firms, or countries. By focusing on what they specialize in, individuals or entities can produce a surplus of goods or services, which they can then exchange with others who specialize in different areas. This exchange of specialized products or services allows for increased economic efficiency and a wider range of goods and services available to consumers.
Overall, specialization plays a vital role in economic development and growth by promoting efficiency, productivity, and trade. It allows individuals and entities to leverage their unique skills and resources, leading to economic specialization at both the individual and aggregate levels.
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Complete the sentence about the most important parts of an email. Before sending an email, you must include the email addresses of one or more recipients in the address box and mention the topic of the mail in the box
Answers
Before sending an email, you must include the subject line of the email addresses of one or more recipients in the address box and mention the topic of the mail in the box.
Email, often known as electronic mail, is the process by which one user sends one or more recipients computer-stored communications through the internet. Emails are a convenient, quick, and affordable means of communication for both personal and professional purposes. If a user has an internet connection, which is normally provided by an internet service provider, they can send emails from any location.
Email can be sent and received between many computer networks, most notably the internet, but it can also be sent and received through both public and private networks, such as a local area network. Both lists of persons and single recipients can receive emails. Using an email reflector, one can control a common distribution list. In order to subscribe to some mailing lists, users must submit a request to the mailing list administrator.
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Identifying and Classifying Balance Sheet and Income Statement Accounts
Following are selected accounts for Staples, Inc., for the fiscal year ended January 3, 2016
(a) Indicate whether each account appears on the balance sheet (B) or income statement (I).
Staples, Inc. ($ millions) Amount Classification
Sales $24,381 I
Accumulated depreciation 4,067 B
Depreciation expense 408 I
Retained earnings 6,694 B
Net income (loss) (211) I
Property, plant & equipment, net 6,030 B
Selling, general and admin expense 4,884 I
Accounts receivable 1,816 B
Total liabilities 6,144 B
Stockholders' equity 6,136 B
(b) Using the data, compute total assets and total expenses.
Total Assets = $Answer
Total Expenses = $Answer
(c) Compute net profit margin (net income/sales) and total liabilities-to-equity ratio (total liabilities/stockholders' equity). (Round your answers to two decimal places.)
Net Profit Margin = Answer
Total Liabilities-to-Equity Ratio = Answer
Answers
Answer:
Staples, Inc.
a. Indication of whether each account appears on the balance sheet (B) or income statement (I):
Staples, Inc. ($ millions) Amount Classification
Sales $24,381 (I)
Accumulated depreciation 4,067 (B)
Depreciation expense 408 (I)
Retained earnings 6,694 (B)
Net income (loss) (211) (I)
Property, plant & equipment, net 6,030 (B)
Selling, general and admin expense 4,884 (I)
Accounts receivable 1,816 (B)
Total liabilities 6,144 (B)
Stockholders' equity 6,136 (B)
b) Total Assets = $3,779
Total Expenses = $5,292
c) Net Loss Margin = -0.87%
Total Liabilities-to-Equity Ratio = = 100.13%
Explanation:
a) Data and Calculations:
Total assets:
Accumulated depreciation (4,067) (B)
Property, plant & equipment, net 6,030 (B)
Accounts receivable 1,816 (B)
Total assets = $3,779
Total Expenses:
Depreciation expense 408 (I)
Selling, general and admin expense 4,884 (I)
Total expenses = $5,292
Net profit (loss) margin = $(211)/ $24,381 * 100 = -0.865%
Total liabilities-to-equity ratio = total liabilities/stockholders' equity * 100
= $6,144/$6,136 * 100
= 100.13%
I have one problem in solving this accounts question. Please help me to find this answer
Answers
Based on the information, the Account to be debited and Account to be credited so given below.
How to explain the information(a) Bought office machinery on credit from D Isaacs Ltd.
Account to be debited - Office Machinery
Account to be credited - Accounts Payable (D Isaacs Ltd)
(b) The proprietor paid a creditor, C Jones, from his private funds.
Account to be debited - Accounts Payable (C Jones)
Account to be credited - Owner's Equity (Private Funds)
(c) A debtor, N Fox, paid us in cash.
Account to be debited - Cash
Accounts Receivable (N Fox)
(d) Repaid part of loan from P Exeter by cheque.
Account to be debited - Loans Payable (P Exeter)
Cash
(e) Returned some office machinery to D Isaacs Ltd.
Account to be debited - Accounts Payable (D Isaacs Ltd)
Office Machinery
(f) A debtor, N Lyn, pays us by cheque.
Account to be debited - Cash
Accounts Receivable (N Lyn)
(g) Bought van by cash.
Account to be debited - Van
Cash
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What is a talent in the work place talent management
Answers
Answer:
Answer follws down here
Explanation:
Talent management seeks to attract, identify, develop, engage, retain and deploy individuals who are considered particularly valuable to an organisation. To be effective, it needs to align with strategic business objectives
Roman is the chief executive officer of Salty Snax Corporation. Roman’s responsibilities include decisions on product development, marketing, and other significant business directions. Roman is subject to the approval and oversight of Salty Snax’s board of directors. Teri is a Salty Snax manager whose duties include the firm’s day-to-day hiring, firing, purchasing, and selling. Umberto is a Salty Snax salesperson, whose daily activities are controlled by Teri. Velma writes sales manuals and promotional materials for Salty Snax’s products according to Roman’s instructions and subject to Salty Snax’s control, but has no dealings with the company’s customers or suppliers. Warren writes copy on a contract-per-project basis and is not otherwise subject to Salty Snax’s control.
Who is a principal? Who is an agent? Who is an employee? Who is an independent contractor?
Answers
Answer:
The correct answers are:
Roman is a principal
Velma is an agent
Umberto is an employee
Warren is an independent contractor
Explanation:
Roman is a principal due to the fact that he is the one who is in the highest position of them all and he has no superior in the company
Velma is an agent because she is under the control of the company.
Teri is an employee because she has to deal with the day-to-day operations and has a superior. And Umberto is an employee because he is in the lowest positions and is controlled by Teri
Warren is an independet contractor because he is not subejct to the company's control
Andrew is a construction driver traveling two hours from his jobsite back to his home. He’s worked on site all week, but is not ill or fatigued. He doesn’t want this commute home to count as “on-duty” time. Can he use an exemption?
Answers
It depends on the regulations and exemptions set by the governing authority responsible for overseeing the commercial transportation industry in the region where Andrew is operating. In the United States, the Federal Motor Carrier Safety Administration (FMCSA) sets regulations for the commercial transportation industry, including those related to hours of service for commercial drivers.
What is the exemption about?Under FMCSA regulations, a driver who is not operating a commercial motor vehicle (CMV) and is not performing any work-related duties is considered to be in a personal conveyance status and is not subject to the hours of service regulations.
Therefore, In this case, if Andrew is driving his personal vehicle and is not engaged in any work-related duties during his two-hour commute, he may be able to use the personal conveyance exemption and not have this time counted as "on-duty" time. However, it is important to check the specific regulations and exemptions in his region to ensure compliance.
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Need help on these please
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Sales tax and VAT are both examples of indirect taxes, which are levied by the seller at the time of sale and paid or sent to the government on the buyer's behalf. Thus option (B) is correct.
What is government?The term government refers that the system which was governed by a state or a country in it, we see there are different governments are being there in states the government is made by the people and govern for the people also in it. There is a system being made and under the system, the government is being run.
A consumption tax that charges consumers for their purchases. Because sales taxes are typically passed on to customers at the moment of sale, it is classified as a consumption tax. A sales tax is an example of an indirect tax, meaning it is not paid to the government directly like an income tax is.
Therefore, Thus option (B) is correct.
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