service businesses do not have ------------ . administrative expenses. selling expenses. labor costs. product costs.
Answers
Service businesses do not have product costs. However, they do have administrative expenses, selling expenses, and labor costs.
What are service businesses?
Service businesses refer to those types of businesses where no physical product is produced. Service businesses mainly provide services to clients, such as legal advice, transportation, cleaning, and hospitality services. However, it is essential to keep in mind that service businesses incur various expenses, even though they do not produce a tangible product. Some of the expenses incurred by service businesses include selling expenses, administrative expenses, and labor costs.
Selling expenses: Selling expenses refer to the expenses incurred by a company to sell its products or services. Selling expenses are those expenses that are incurred when a company tries to convince a customer to buy their product or services. The selling expenses are associated with advertising, publicity, sales promotion, sales commission, and sales travel expenses.
Administrative expenses:Administrative expenses are the expenses that a company incurs to manage the business and the employees. The expenses are mainly incurred in the office, and they are not directly related to the production of goods and services. Examples of administrative expenses include salaries of employees, rent of office space, office supplies, and insurance premiums.Labor costsLabor costs are the costs that a company incurs when paying its employees to provide services to customers. Labor costs are one of the significant expenses for service businesses because employees are the ones who provide the services. Service businesses such as restaurants and hotels are some examples where labor costs are a significant expense.Product costsProduct costs are expenses associated with the production of goods. In service businesses, there are no product costs because they do not produce goods. Instead, they provide services to customers. Therefore, service businesses do not have product costs.
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Related Questions
what is the impact of atm on banking sector?
Answers
Answer:
Explanation:
ATM s are of great use to the banks as the reduce the number of people storming the banks for withdrawal of money as well as deposit of money it reduces cost of operation and from customer point of view it is available easily near by hence travelling further distance to the bank is not required
ATMs are one of the most convenient services provided by the banks to customers. It is beneficial to banks as it is to its customers. It helps banks to save cost and time in withdrawing money and various other services which are now provided by ATM.
Automated teller machines, or ATMs as they are more commonly referred to, are a convenient way to conduct one-on-one transactions quickly and easily. One can do self-serviced transactions with these machines without a physical teller's aid or a trip to the bank branch. Cash withdrawals, cash deposits, and fund transfers are just a few of the many transactions possible with automated teller machines, or ATMs. Although the majority of customers only use ATMs to withdraw cash, these additional transactions make the service more effective.
With the advent of the ATM, users' financial lives became simpler because they could now perform simple transactions on their own with the aid of an ATM, which was much more practical than often visiting the bank. The ability for users to transact between banks is another significant advantage of an ATM. This means you can still use basic services like cash withdrawals from the ATM even if you don't have an account with the bank that runs the machine. Again, this saves you time and comes in handy in an emergency because you won't need to go to the ATM at your bank every time you need a quick infusion of cash. ATM helps banks operate more cheaply by lowering the number of human operations. The ATM provides service 24 hours a day which means customers can avail of money and other services at any time of the day.
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Members of limited liability companies are shielded from personal liability in many situations. True False.
Answers
True.
Members of limited liability companies (LLCs) are generally shielded from personal liability for the company's debts and obligations. The limited liability feature is one of the key advantages of an LLC structure. It means that the personal assets of the members, such as their homes or personal bank accounts, are protected from being used to satisfy the LLC's debts or legal obligations. However, it's important to note that there are certain situations where the limited liability protection may not apply, such as in cases of personal guarantees or certain types of misconduct.
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when mr. wilson worked full time, he paid a cleaning service to have his house cleaned every week. now that he is retired, mr. wilson does his own cleaning. what is the effect of this change in who does this task on gdp?
Answers
The change in who does the cleaning task from a paid cleaning service to Mr. Wilson doing it himself has no direct effect on GDP (Gross Domestic Product).
How is this so?GDP measures the total value of goods and services produced within a country'sborders over a specific period.
Since Mr. Wilson's cleaning activity was previously included in the GDP when he paid for the cleaning service,and now it is considered a non-market activity done by himself, it is not included in GDP calculations.
GDP primarily focuses on market transactions that involve monetary value.
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URGENT When is the unadjusted trial balance completed?
A. After a first set of adjusting entries have been made
B. As a final step in the accounting cycle
C. After all adjusting entries have been made
D. Before any necessary adjusting entries have been made
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how many months weeks days are in 157 days?
Answers
Net Present Value Analysis Anderson Company must evaluate two capital expenditure proposals. Anderson’s hurdle rate is 12%. Data for the two proposals follow. Proposal X Proposal Y Required investment $120,000 $120,000 Annual after-tax cash inflows 24,000 After-tax cash inflows at the end of years 3, 6, 9, and 12 72,000 Life of project 12 years 12 years Using net present value analysis, which proposal is the more attractive? Do not use negative signs with your answers. Round PV answers to the nearest whole number. Use rounded answers for subsequent calculation of net present value. Proposal X Proposal Y Net present value Initial outflows Answer Answer PV of future cash flows Answer Answer Net present value Answer Answer Which proposal is more attractive?
Answers
Answer:
Initial outflows for project X and Y is $120,000
PV for project X = $148,664.98
NPV For project X = $28,664.98
NPV for project Y = $12,170.15
PV for project Y = $132,170.15
Project X is more attractive
Explanation:
Net present value is the present value of after tax cash flows from an investment less the amount invested .
NPV can be calculated using a financial calculator:
NPV for proposal X :
Cash flow in year 0 = $-120,000
Cash flow each year from year one to 12 = $24,000
I = 12%
NPV = $28,664.98
PV = $-120,000 + 28,664.98 = $148,664.98
NPV for proposal Y :
Cash flow in year 0 = $-120,000
Cash flow in year 3, 6, 9, and 12 = $72,000
I = 12%
NPV = $12,170.15
PV = $120,000 + $12,170.15 = $132,170.15
The project X should be chosen because its NPV is greater than that of project Y.
Focus20 applicants are interviewed for a job. The interviewer creates an ordered list (first to last) of the best 6 applicants. How many ways are there for the interviewer to create the list
Answers
Focus20 applicants are interviewed for a job. The interviewer creates an ordered list (first to last) of the best 6 applicants. 38,760 different ways are there for the interviewer to create the list
Since the question is about choice, we apply the combination rule. In general, if we select r objects from a pool of objects, this can be done in nCr a number of ways.
nCr = n! /(n-r)! r!
If an interviewer selects 6 applicants from a pool of 20 applicants to interview for a job, according to the question, this can be done in 20C6 different ways.
20C6 = 20! / (20-6)! 6!
20C6 = 20! / 14! 6!
20C6 = 20 * 19 * 18 * 17 * 16 * 15 * 14! / 14! * 6 * 5 * 4 * 3 * 2
20C6 = 20 * 19 * 18 * 1716 * 15/6 * 5 * 4 * 3 * 2
20C6 = 27,907,200 / 720
20C6 = 38,760 ways.
Therefore, the interviewer can create the list in 38,760 ways.
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What are 2 laws in the UK that promote good ethical practice in an organisation?
Answers
Answer:i think its uhh carrot
Explanation:
(1). Five {5} advantages of manual office equipment
(2). Five {5} disadvantage of manual office equipment
Answers
Advantages of manual office equipment:
Low cost
No electricity needed
Durable and reliable
Simple to use and maintain
Portable
Disadvantages of manual office equipment:
Time-consuming and physically demanding
Limited capabilities compared to electric equipment
Inaccurate results
Dependent on operator's skill
Not suitable for heavy-duty tasks
Carrie made an initial investment of $50,000.the final value of her investment was $55,500.what was the roi?
Answers
Answer:
sorry i am not good with this subject i want to help but i cant sorry
Explanation:
When demand for a product is insufficient to keep all of the production workers busy and no layoffs occur, an unfavorable ______ ______ variance may occur.
Answers
When demand for a product is insufficient to keep all of the production workers busy and no layoffs occur, an unfavorable labor efficiency variance may occur.
The statement is referring to the labor efficiency variance, which is the difference between the actual hours worked by production workers and the standard hours allowed for the output achieved, multiplied by the standard labor rate.
If there is insufficient demand for the product, it means that less output is being produced than originally planned. In this situation, production workers may not be fully utilized, leading to idle time or non-productive time. This idle time will increase the actual hours worked by the workers, resulting in a higher labor cost than what was originally budgeted.
As a result, the labor efficiency variance will be unfavorable, indicating that more labor hours were used than expected to produce the output.
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Describe the population distribution in Guyana
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More than 70 percent of Guyana's coastal population is rural, living on plantations or in villages strung along the coastal road. The villages range in size from several hundred to several thousand inhabitants. The layout of the villages is dictated by the drainage and irrigation systems of the plantations, both active and abandoned. The villages are most heavily concentrated along the estuary of the Demerara River and the eastern environs of Georgetown, near the mouth of the Berbice River close to New Amsterdam, and along the extreme east coast near the Courantyne River.
The pattern of population distribution in Guyana is a product of nineteenth-century economic development, which was based on the cultivation of sugarcane. Because the swampy coast was fertile and sugar production was geared to export, the large sugar estates confined their operations to a narrow coastal strip. Most of the villages had ethnically diverse populations, but usually one ethnic group predominated. The urban population was predominantly African, but it would be misleading to suggest that all Afro-Guyanese were urban. Indeed, the majority of the Afro-Guyanese population was rural. A far greater majority of Indo-Guyanese, however, lived outside the cities. The interior of the country was left mainly to the Amerindians. Even the later exploitation of timber, bauxite, and manganese in the interior failed to effect any sizeable migration.
The debit for a sales tax properly levied and paid on the purchase of machinery preferably would be a charge to
Answers
The debit for a sales tax properly levied and paid on the purchase of machinery preferably would be a charge to machine account.
What is a machine account?This is a section of the Journal entry that records the machine entry.
Hence, the amount paid on the purchase of machinery preferably would be a charge to machine account.
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1market review in nepal with that market picture
For project work of class 8th O.B.T.E subject
Answers
Research has shown that the scenarios of things in the Nepalese market. The market under review here is called the Kalimati fruit and vegetable market and it is located at Kathmandu, Nepal.
What is the Kalimati fruit and vegetable market about?Kalimati fruit and vegetable market is known to be the largest wholesale market that is known to often sell agricultural products in the country of Nepal.
One can find this market in Kathmandu, Nepal. it is said to be maintained by the Kalimati Fruit and Vegetable Market Development.
This market was set up in 1987 and as at that time, it was known to be a wholesale center run by the Nepal government and it was said to be set up by United Nation Capital Development Fund.
The sellers here are known to sell lowest of five kilograms and it also has a retail market for small traders to sell their products.
Study has shown that it has 425 wholesaler, 65 retail and also about 27 fish shops that can be found the market.
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When discussing choosing a Cunningham for the jury, Atticus says, “When you analyze it, there was little risk. There’s no difference between one man who’s going to convict and another man who’s going to convict, is there? There’s a faint difference between a man who’s going to convict and a man who’s a little disturbed in his mind, isn’t there?
Answers
Atticus says they're pοοr grοwers, but want tο get by οn their οwn. Hοwever, they pay in crοps because that's all they can dο, If they need tο hire peοple.
Atticus has nοthing against the Cunninghams, but Scοut dοes n’t knοw any better. She said tο Calpurnia, “ he ain’t cοmpany, Cal, he’s just a Cunningham.
”She alsο says that he lοοks like he was raised οn fish fοοd. After Scοut explained why she was frenetic at Walter, he tοld her tο put herself in his shοes. That yοu nοway really knοw a persοn unless yοu see the wοrld in their pοint οf view.
The Finches are analοgοus tο the Cunninghams because bοth families are cοnsidered pοοr because οf the Great Depressiοn, indeed thοugh the Cunninghams have lοwer. The are different because οf sοcial class.
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The benefits of a strategic business plan do not include _____.:
Answers
Answer:
Early precautionary measures of trouble ahead can not be issued.
Explanation:
Since a strategic strategy maps out a path for the organisation to follow, it will enable it tighten its attention in order to get somewhere. Therefore, strategic preparation will help the organisation create the best priorities and strategies and help others concentrate their energies on achieving them.
In a business process, ________ are defined as collections of related tasks that receive inputs and produce outputs.
Answers
Considering the business undertakings, in a business process, activities are defined as collections of related tasks that receive inputs and produce outputs.
Activities in business involve many processes that include the start and end point to the sales of the products or services.
Business activities usually include the following:
Creating BudgetGrowing SalesMarketing PlanFinancial analysisAccounting operation Customer serviceHuman resources, etc.Hence, in this case, it is concluded that the correct answer is "Activities."
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Demand for bikes has suddenly increased, and the
market price has risen from $50 to $60.
In three to five sentences, explain how this change will
affect profits.
Answers
When the demand for bikes has considerably increased with a rise in price by $10, then the profit also increases by $10 on every bike sold.
What is meant by profit?Profit is an incentive earned by a company by selling its products at a price higher than the original cost.
From the provided situation, it has been analyzed that there is a direct relationship between price and demand, which means an increase in demand leads to a rise in prices also. This will ultimately raise the profits of a company in respect of goods sold.
Therefore, the profits are also raised by $10 in a similar way as the rise in price by $10 due to an increase in demand for bikes.
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Answer:
Sample response: If the market price of bikes rises from $50 to $60, then the company will want to produce a larger quantity of bikes. This is because the overall marginal revenue is now higher and will be maximized differently. Before profit was maximized at six bikes, now the profit will be maximized by producing more bikes, perhaps seven.
Explanation:
Your client, Judy, with a credit score of 620, has been approved for an FHA loan for a home with a sales price of $200,000. What is the minimum down payment that will apply
Answers
Answer:
0
Explanation:
Suppose a local company has the following balance sheet accounts. calculate the missing amounts assuming the business has total assets of $29,250.
Answers
The missing amounts are: Equipment: $14,800; Notes Payable: $16,500.
To calculate the missing amounts, we can use the equation:
Total Assets = Total Liabilities + Stockholders' Equity
Given that the total assets are $35,250, and we have some known values, we can calculate the missing amounts.
Equipment: Since it is not mentioned in the accounts, we assume it falls under the category of total assets. Therefore, the missing amount for equipment can be calculated as:
Equipment = Total Assets - (Land + Supplies + Cash + Pre-Paid Rent)
= $35,250 - ($8,700 + $1,950 + $6,900 + $2,900)
= $14,800
Notes Payable: Since it is not mentioned, we assume it falls under the category of total liabilities. Therefore, the missing amount for notes payable can be calculated as:
Notes Payable = Total Liabilities - (Accounts Payable + Salaries Payable)
= Total Liabilities - ($1,550 + $4,000)
= Total Liabilities - $5,550
Now, we know that Total Liabilities + Stockholders' Equity = $35,250. Substituting the known values, we can solve for Total Liabilities:
Total Liabilities + $13,200 = $35,250
Total Liabilities = $35,250 - $13,200
Total Liabilities = $22,050
Substituting this value into the equation for Notes Payable:
Notes Payable = $22,050 - $5,550
Notes Payable = $16,500
Therefore, the missing amounts are:
Equipment: $14,800
Notes Payable: $16,500
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The complete question is :
Suppose a local company has the following balance sheet accounts. Calculate the missing amounts assuming the business has total assets of $37,500.
land- 9,000
equiptment- ?
salaries payable- 4,300
notes payable- ?
supplies- 2,100
cash- 7,200
SE- 13,500
accounts payable- 1,700
prepaid rent- 3,200
Which of the following is an indirect competitor for a company that makes chocolate chip cookies? A. Another company that makes chocolate chip cookies B. A company that makes potato chips C. A company that makes baking pans D. A company that makes brownies
Answers
Answer:
The indirect competitor for a company that makes chocolate chip cookies is;
D. A company that makes brownies
Explanation:
Where two companies or vendors produces or supplies entirely different products that however work to satisfy the same customer need then the two companies or vendors are in indirect competition
In the question, we have;
The product of the company = Chocolate chip cookies
Therefore, an indirect competitor of the company will be make a maker of a different product of the same utility as the chocolate chip cookies, which gives;
The indirect company = A company that makes brownies
This is so because, a brownie, which is also known as a chocolate brownie, consists of a rectangular or square shaped baked chocolate that can include a variety of ingredients, including chocolate chips, cheese and nuts.
Answer:
D A company that makes brownies
Explanation:
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The firm’s target capital structure should do which of the following? Minimize the cost of debt (rd). Obtain the highest possible bond rating. Minimize the cost of equity (rs). Minimize the weighted average cost of capital (WACC).
Answers
It is necessary to optimize the mix of debt and equity to minimize the WACC in order to maximize the value of the firm.
The firm's target capital structure should minimize the weighted average cost of capital (WACC).The weighted average cost of capital (WACC) is the average cost of funds the firm uses to finance its assets. It takes into account the firm's equity and debt capital and the cost of each. WACC is calculated using the following formula:WACC = (E / V * Re) + (D / V * Rd * (1 - Tc))Where,E = market value of the firm's equityD = market value of the firm's debtV = total market value of the firm's equity and debtRe = cost of equity capitalRd = cost of debt capitalTc = corporate tax rateThe firm's target capital structure should minimize the weighted average cost of capital (WACC). It should be achieved by balancing the firm's cost of debt and cost of equity to achieve the minimum WACC, which maximizes the firm's value.A firm's cost of debt and cost of equity have an inverse relationship with its target capital structure. A firm can raise its cost of equity by increasing the percentage of equity in its capital structure while lowering the percentage of debt, and vice versa. Therefore, it is necessary to optimize the mix of debt and equity to minimize the WACC in order to maximize the value of the firm.
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Research the options for AP and IB classes in your local school district or state and write a one-page report presenting the following information:
What programs are available that can help you get college credit for your chosen career?
What are the entrance requirements, if any?
How many college credits could you possibly graduate high school with?
What are the benefits of programs such as AP and IB, and how can you prepare yourself in middle school to take these types of classes in the future?
Answers
The programs that available that can help you to get the college credit for the career that you have chosen are:
Advanced placement classesCollege level examinationsThe entrance requirements for this schools would need you to have up to an achievement rating of 4 in some basic subjects.
You could possibly graduate with up to 120 college credits from school.
The benefits of Advanced placements is that they help to prepare students for the college school. They are used to place and grade students as they prepare for college.
What is college credit?When students join in these courses, they study college-level content more rigorously and at a faster speed. They can acquire college credits in return for taking a course like this.
High school pupils need to be aware that there are options like these, with great rewards. Students who know this information can finish their college education before arriving on the campus of their chosen institution or university.
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Answer: (Answers may vary.)
After researching the AP and IB options in my town, I found out that my state doesn’t offer the IB curriculum. I think that the IB program sounds very interesting. I’d like to see a real IB school and learn more about the curriculum, but unfortunately I won’t be able to in my school district. My school district does, however, offer AP classes in high school.
In order to get into the AP program in my school district, I have to be on the AP path. This means that I would take the pre-AP classes in middle school, which will allow me to get farther along in the curriculum, and then I’d take the AP classes starting in my junior year. I also have to get a 3.0 GPA and maintain that GPA through my AP classes while in high school or I may lose my place in the program.
If I get on the right track, I could possibly take up to eight AP classes in my junior year of high school and another eight AP classes in my senior year, which would mean that I could get a lot of college credits! I don’t know if I could realistically do this, however, because the classes are so much more difficult than regular high school classes are. I’d also be very worried about taking all of those AP exams at the same time!
I think I’ll try to take as many AP classes in high school as I possibly can, but only for the core classes, such as English, Science, Math, and History. That way, I can get through college sooner and pay less for my degree. I have to make sure I get good grades in my classes, and I plan to get on the AP track so I can take these classes in the future.
Explanation: Edmentum Answer
What are the most helpful qualifications for Health Informatics careers? Check all that apply.
laboratory skills
leadership
computer skills
organizational skills
teamwork
creativity
Answers
Answer:
he is right
Explanation:
The most helpful qualifications for Health Informatics careers include computer skills and organizational skills. Therefore, options C and D are correct.
Computer skills are a key qualification in Health Informatics careers as they involve working with various software applications and systems used in healthcare data management and analysis.
Proficiency in computer skills allows professionals to effectively navigate electronic health records, data analytics tools, and health information systems.
It involves knowledge of database management, programming languages, data visualization, and understanding the technical aspects of healthcare IT infrastructure.
Possessing strong computer skills enables Health Informatics professionals to efficiently process, analyze, and interpret healthcare data to support decision-making, improve patient care, and enhance operational efficiency in healthcare organizations.
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3. for a perfectly competitive firm, if economic profits exist, how will this impact the number of firms in the industry? if economic losses exist? what will long-run economic profits be for the perfectly competitive firm?
Answers
The existence of economic profit attracts market entry, economic loss attracts market exit, and in the long run firms in perfectly competitive firms do not achieve economic profit. The long-term supply curve of industries whose input prices do not change when they expand (industries with constant costs) is a horizontal line.
This happens in a perfectly competitive industry when the economic profit is greater than zero: New firms outside are enticed to enter the industry because the cost of entering a perfectly competitive industry is almost zero. business, when they're not making a profit Profit, is total sales minus total costs.
Total cost includes all the company's opportunity costs. In a zero-profit equilibrium, the company's profits compensate the owners for the time and money they put in to keep the business going.
As long as a firm is making a positive economic profit, new competitors will continue to enter the market, reducing demand to the original firm's marginal return curve. The long-run equilibrium is shown on the diagram at point Y where the firm's perceived demand curve touches the average cost curve.
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2) Suppose you want to calculate the present value of the final-year's interest tax shield for a project that has a life of six years. The following formula PV (ITS6) = ITS6/(1+RÐ)6 should be used when: A. the debt associated with the interest tax shield is permanent. B. the debt associated with the interest tax shield is predetermined. C. the debt is adjusted continuously to maintain a target leverage ratio. D. the debt is adjusted periodically to maintain a target leverage ratio.
Answers
The correct answer is C. The formula PV (ITS6) = ITS6/(1+RÐ)6 should be used when the debt is adjusted continuously to maintain a target leverage ratio.
The present value of the final-year's interest tax shield (ITS) represents the value of the tax savings generated by deducting interest expenses from taxable income. In this case, the formula PV (ITS6) = ITS6/(1+RÐ)6 is used when the debt associated with the interest tax shield is continuously adjusted to maintain a target leverage ratio.
When the debt is adjusted continuously, it means that the company actively manages its debt levels to maintain a specific target leverage ratio over time. This involves periodically adjusting the amount of debt in response to changes in the company's financial situation and market conditions.
By using this formula, the present value of the final-year's interest tax shield is calculated by discounting the tax shield value at the appropriate discount rate (RÐ) for each year, raised to the power of the number of years (6 in this case).
It is important to note that in options A, B, and D, where the debt associated with the interest tax shield is permanent, predetermined, or adjusted periodically, respectively, different formulas or methods would be used to calculate the present value of the interest tax shield.
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Which one of the following types of charitable contributions is NOT deductible for federal income tax purposes?
A. Contributions made with credit cards where the charge is paid in a subsequent year
B. Travel costs incurred for charitable purposes
C. Contributions made through payroll deduction
D. Cash paid to purchase fundraising products where a portion of the proceeds go to fund a charitable cause
Answers
Answer: B.
Explanation: Contributions to individuals, foreign governments, foreign charities, and certain private foundations similarly are not deductible.
You see a shirt you really like but it costs $50.00 and you cannot afford it right now. You see one on eBay that is exactly the same for $19.99 plus $1.50 in shipping. What percent are you saving off of the original in-store price if you buy the shirt on eBay? Please show your work. PLEASE HELP ASAP
Answers
Total cost of the shirt from
eBay is the price of the shirt plus the shipping:
19.99 + 1.50 = $21.49
Find the cost difference:
50 - 21.49 = $28.51
Divide the cost difference by original price:
28.51/50 = 0.5702
Multiply by 100 to get percent:
0.5702 x 100 = 57.02%
Answer: 57.02% ( you can probably round the answer to 57%)
Juanita owns a candle business. She and her employees make candles from beeswax and soy wax in a variety of colors, scents, and sizes. Originally, Juanita set up her business structure as a sole proprietorship. As her business is growing, she is reviewing her business ownership structure to decide if there may be a more favorable structure as it relates to her taxes. What other business ownership models might she choose? What are their tax structures? Describe three other models and why they might be better options than Juanita’s current sole proprietorship.
Answers
She might choose other business ownership that is corporation.
The tax structures in the Corporation will be taxed at a lower 15% corporate rate than other business ownership like in partnership the tax will be more than 25%.
The three business models which are-
Sole proprietorship.Partnership.Corporation.The corporation might be better options than sole proprietorship because robust protection liability. The ability to sell stocks and bonds, which in turn makes it much easier to raise capital and attract employees. In the corporation business, in respect of indefinite lifespan that can continue even after owners die or leave the company.
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what is democracy????
Answers
Explanation:
a system of government by the whole population or all the eligible members of a state, typically through elected representatives.
Answer:
A system in which government is selected by the citizens....