1.Madam Jessica who died two months ago had two children, Adam and Billy. During her life, Madam Jessica entered into an agreement with Chris, the person who occupied the land belonging to Madam Jessica for free during Madam Jessica’s life to pay Adam rent of RM500.00 a month after Madam Jessica died. Chris did not want to pay the rent to Adam after Madam Jessica’s death on the grounds that Adam was not a party to the agreement and did not provide consideration to the agreement between Madam Jessica’s and Chris. Prior to her death, Madam Jessica had also changed her name on a separate piece of land to Billy’s name without any payment. The transfer is registered and made in writing. Adam is dissatisfied and intends to challenge the transfer of the land as invalid. Advise Adam regarding the above problems and support your answers with relevant legal provisions
2.Discuss the legal position of intention as one of the important element in the formation of a contract. Support your answer with relevant cases.
Answers
Rent Agreement and Payment Dispute: In the case of Madam Jessica's agreement with Chris for the payment of rent to Adam after her death, the enforceability of the agreement.
Regarding the payment of rent to Adam, it is possible that Adam may not have a legally enforceable claim against Chris. This is because Adam was not a party to the agreement, and consideration (something of value exchanged between the parties) was not given by Adam in exchange for the promise of rent. However, the specific laws and circumstances in the relevant jurisdiction should be considered to determine the legal position accurately.
Transfer of Land and Validity Challenge:
The transfer of land from Madam Jessica to Billy, without any payment and with the transfer being registered and made in writing, raises questions about the validity of the transfer. The legal position on this matter may vary depending on the jurisdiction and the specific laws governing land transfers.
Regarding the agreement between Madam Jessica and Chris, it appears that there may be some legal issues to consider In general, a contract requires an offer, and an intention to create legal relations.
Land Transfer to Billy: Madam Jessica transferred a separate piece of land to Billy's name without any payment, and the transfer was registered and made in writing. Adam intends to challenge the validity of this transfer.
The transfer of land from Madam Jessica to Billy, without any payment, could potentially be challenged by Adam Consulting's relevant case law, and seeking legal advice in the relevant jurisdiction will provide a more comprehensive understanding of the legal position of intention in contract formation.
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Related Questions
Given below are comparative statements of financial position (balance sheets) and an income statement for Claret Corporation. Claret Corporation Balance Sheets Year 2 December 31 January 1 Cash $ 14,600 $ 14,600 Accounts receivable 45,500 35,700 Inventory 31,500 35,400 Equipment (net) 56,200 65,300 Total $ 147,800 $ 151,000 Accounts payable 25,000 27,600 Dividends payable 6,800 2,900 Long-term note payable 13,300 13,300 Capital stock, $5 par 71,800 71,800 Retained earnings 30,900 35,400
Total $ 147,800 $ 151,000 Claret Corporation Income Statement For the year ended Year 2 Sales $ 227,800 Cost of goods sold 137,440 Gross profit on sales $ 90,360 Operating expenses 75,768 Operating income $ 14,592 Interest expense and income taxes 8,600 Net income $ 5,992 All sales were made on account. Cash dividends declared during the year totaled $10,492. Claret Corporation's gross profit rate for Year 2 is:
Answers
The gross profit rate for Claret Corporation in Year 2 is approximately 39.7%.
The gross profit rate for Claret Corporation in Year 2 can be calculated by dividing the gross profit on sales by the sales.
From the income statement, we can see that the gross profit on sales is $90,360. And from the same statement, we can see that the sales are $227,800.
To calculate the gross profit rate, we divide the gross profit on sales by the sales:
Gross profit rate = (Gross profit on sales / Sales) * 100%
Plugging in the values, we have:
Gross profit rate = (90,360 / 227,800) * 100%
Calculating this, we find that the gross profit rate for Claret Corporation in Year 2 is approximately 39.7%.
The gross profit rate measures the efficiency of a company's production process and is an indicator of its profitability. A higher gross profit rate indicates that a company is generating more profit from its sales. In this case, Claret Corporation has a gross profit rate of 39.7%, which means that it is generating a gross profit of approximately 39.7 cents for every dollar of sales.
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The lakeside electronics company has 2 bond issues outstanding. both bonds pay $100 semi annual interest plus $1,000 at maturity. Bond A has a remaining maturity of 15 years, Bond B has a maturity of one year. What is the value of each of these bonds now when the going rate of interest is 9%.
Answers
The value of Bond A is $1,046.86 and the value of Bond B is $1,045.45 when the going rate of interest is 9%.
To calculate the value of each bond, we need to use the present value formula. We first need to calculate the present value of the semi-annual interest payments and then add the present value of the $1,000 payment at maturity.
For Bond A, which has a remaining maturity of 15 years, we need to calculate the present value of 30 semi-annual interest payments (15 years x 2 payments per year). The interest rate is 4.5% (9% divided by 2, since we have semi-annual payments). Using the present value formula, we get:
PV = C x [(1 - (1 + r)^-n) / r] + FV / (1 + r)^n
PV = $100 x [(1 - (1 + 0.045)^-30) / 0.045] + $1,000 / (1 + 0.045)^30
PV = $1,046.86
Therefore, the value of Bond A now is $1,046.86 when the going rate of interest is 9%.
For Bond B, which has a maturity of one year, we only need to calculate the present value of 2 semi-annual interest payments and the $1,000 payment at maturity. Using the same formula as above, but with an interest rate of 4.5% and a time period of 1 year, we get:
PV = $100 x [(1 - (1 + 0.045)^-2) / 0.045] + $1,000 / (1 + 0.045)^2
PV = $1,045.45
Therefore, the value of Bond B now is $1,045.45 when the going rate of interest is 9%.
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As the economy grows and profits increase Chinese firms begins to build more factories
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Chinese businesses will probably start constructing additional factories as the economy expands and revenues rise in order to enhance productivity and keep up with the rising demand for their goods.
As more personnel are required to run the new factories, this will improve employment possibilities. It will also spur economic growth because the building of new factories will raise demand for building materials, transportation services, and other goods and services.
It is crucial for the government and businesses to adopt sustainable and responsible practices in their construction and operation of new factories because building more factories could have adverse consequences on the environment, such as increased pollution and habitat damage.
it's also important to examine how new factories will affect the environment. Overall, this statement emphasizes the connection between economic expansion, corporate spending, and potential environmental effects.
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what are the three components that influence the treasury yield curve?
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The three components that influence the treasury yield curve are inflation expectations, economic growth prospects, and monetary policy actions by central banks.
Inflation expectations affect long-term yields as investors demand higher returns to compensate for potential loss in purchasing power. Economic growth prospects impact short-term yields as stronger growth may lead to higher interest rates. Monetary policy actions by central banks, such as adjusting the benchmark interest rate or implementing quantitative easing, directly influence short-term yields and indirectly affect long-term yields through their impact on inflation and economic growth expectations.
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a joint application development session is where employees meet, sometimes for several days, to define or review the business requirements for the system. true or false
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The given statement: a joint application development session is where employees meet, sometimes for several days, to define or review the business requirements for the system is TRUE.
A joint application development (JAD) session is a collaborative approach to software development, where stakeholders, developers, and end-users meet for several days to define or review the business requirements for the system.
During this session, participants engage in brainstorming, discussions, and prototyping to develop a shared understanding of the requirements and design of the system. JAD sessions can help to ensure that the final product meets the needs of all stakeholders and can help to identify potential problems early in the development process.
Therefore, a joint application development session is an effective way to achieve consensus and clarity on the goals, objectives, and specifications of a software project.
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Productivity, dependability, and responsibility are examples of skills that managers look for when determining who to promote within a company. Evaluate these three skills and another one or two that you come up with and explain how each skill could be helpful for an employee looking to get a promotion.
Answers
A dependable employee is an incredible asset to a company, as they make great coworkers, can be trusted to do their jobs. Productivity and responsibility are important aspects for the promotion.
What is a dependable employee?A dependable employee is a fantastic addition to a company because they make excellent teammates, can be trusted to execute their tasks without micromanagement, and empower others to accomplish their jobs effectively. As a result, being recognized as a dependable employee can help you stand out as an attractive prospect.
Every organization wants a productive employee who is responsible for the success of the organization as well as for his personal gains.
Being reliable implies doing what you say you'll do, when you say you'll do it. A reliable individual fosters trust by keeping himself/herself accountable and, if they lead others, their team members accountable as well.
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Pluto Intelligence has a beta of 0.4 Neptune Media has a beta equal to 15 The required return on the stock market is 9 6% and the risk-free rate is 3.0% What is the difference (in percent) between Pluto's and Neptunes's required rates of return Neptune Pluto)?
Answers
The difference in the required rates of return between Pluto Intelligence and Neptune Media is -1.65%. Neptune Media has a higher required rate of return than Pluto Intelligence.
The difference in the required rates of return between Pluto Intelligence and Neptune Media can be calculated using the formula:
The difference in the required rate of return = Neptune's required rate of return - Pluto's required rate of return
To calculate each company's required rate of return, we need to use the Capital Asset Pricing Model (CAPM) formula:
Required Rate of Return = Risk-Free Rate + Beta * (Market Return - Risk-Free Rate)
Given:
- Beta of Pluto Intelligence (Pluto) = 0.4
- Beta of Neptune Media (Neptune) = 15
- Risk-Free Rate = 3.0%
- Market Return = 9.6%
Now, let's calculate the required rates of return for both companies:
Pluto's required rate of return = 3.0% + 0.4 * (9.6% - 3.0%) = 3.0% + 0.4 * 6.6% = 3.0% + 2.64% = 5.64%
Neptune's required rate of return = 3.0% + 15 * (9.6% - 3.0%) = 3.0% + 15 * 6.6% = 3.0% + 0.99% = 3.99%
Now, let's calculate the difference in their required rates of return:
Difference in required rate of return = 3.99% - 5.64% = -1.65%
In summary, the difference in the required rates of return between Pluto Intelligence and Neptune Media is -1.65%. Neptune Media has a higher required rate of return than Pluto Intelligence.
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Ray lends $3,500. 00 $ 3,500. 00 to aron at a simple interest of 15% 15 % per year. Aron returned him $3,000. 00 $ 3,000. 00 and a watch after 2 2 years to clear the account. What is the price of the watch?.
Answers
The price of the watch, given the simple interest on the loan from Ray to Aron, is $ 1, 550
How to find the price of the watch?The price of the watch would be the amount that when added to the $3, 000 that was paid back, would complete the repayment of the debt of $3, 500 from Ray.
First, find the total amount to be paid back:
= Loan amount + ( Loan amount x simple interest x number of years )
= 3, 500 + ( 3, 500 x 15 % x 2 )
= $ 4, 550
The value of the watch is:
= Total to pay back - Amount brought in cash
= 4, 550 - 3, 000
= $ 1, 550
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Akram owns a small farm. He employs 80 workers in the field and has recently hired a manager to help him manage the farm. The income of the business varies greatly during the year. The farm makes a small profit but Akram is ambitious. He wants to take over a neighbour’s farm and increase the range of crops he sells. He thinks that he needs long-term finance and plans to take out bank loan to pay for the takeover. He has already borrowed money to buy a new tractor. A friend has advised him to form a company and sell shares.
1. Identify two types of short term finance t Akram could use when farm income is low?
Answers
Explanation:
calvin female is will dang barn Mann a can me wondering
Month First Year Second Year Third Year January 242 263 282 February 235 238 255 March 232 247 265 April 178 193 205 May 184 193 210 June 140 149 160 July 145 157 166 August 152 161 174 September 110 122 126 October 130 130 148 November 152 167 173 December 206 230 235 Month First Year Second Year Third Year January 242 263 282 February 235 238 255 March 232 247 265 April 178 193 205 May 184 193 210 June 140 149 160 July 145 157 166 August 152 161 174 September 110 122 126 October 130 130 148 November 152 167 173 December 206 230 235 The Vintage Restaurant, on Captiva Island near Fort Myers, Florida, is owned and operated by Karen Payne. The restaurant just completed its third year of operation. During those three years, Karen sought to establish a reputation for the restaurant as a high-quality dining establishment that specializes in fresh seafood. Through the efforts of Karen and her staff, her restaurant has become one of the best and fastest-growing restaurants on the Island. To better plan for future growth of the restaurant, Karen needs to develop a system that will enable her to forecast food and beverage sales by month for up to one year in advance. The following table shows the value of food and beverage sales ($1,000s) for the first three years of operation: Your Tasks: Perform an analysis of the sales data for the Vintage Restaurant. Prepare a report for Karen that summarizes your findings, forecasts, and recommendations. Include the following: a. A time series plot. Comment on the underlying pattern in the time series. Using the dummy variable approach, forecast sales for January through December of the fourth year. How would you explain this model to Karen? Assume that January sales for the fourth year turn out to be $295,000. What was your forecast error? If this error is large, Karen may be puzzled about the difference between your forecast and the actual sales value. What can you do to resolve her uncertainty about the forecasting procedure
Answers
The sales are generally highest in the winter months and lowest in the summer months, with peak in January of the third year at $282,000.
What are sales?Sales refer to exchange of goods or services for money or other valuable consideration. It is the process of convincing potential customers to purchase a product or service by communicating its value, benefits, and features. The sales process typically involves prospecting, qualifying leads, making a sales pitch, handling objections, closing the sale, and following up with the customer. Sales can occur through various channels, including in-person, over the phone, online, or through direct mail. Successful sales depend on the ability to understand and meet customer needs, build relationships, communicate effectively, and provide exceptional customer service. Sales are essential to the success of any business as they generate revenue and help to grow and expand the business.
Highest sales= $295,000- $13,000= $282,000
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when ordering raw materials of steel and aluminium the business is considering changing to jit advise them if its a good idea or not
Answers
The advantages the business gets if they change to JIT are
reduction in inventory costImprovement in qualityIncrease in efficiencyThe Advantages:Decisions on whether or not to implement a Just-In-Time (JIT) inventory system for steel and aluminum raw material depend on many variables such as business size, market demand, lead time and supplier reliability. Here are the potential advantages and disadvantages of JIT inventory in such situations:
JIT helps businesses reduce inventory holding costs as raw materials are only ordered as required, thus freeing up cash flow for other investments and creating greater cashflow opportunities.
Quality Improvement: Just-In-Time production methods provide greater quality assurance as materials can be purchased in smaller batches that can then be thoroughly inspected upon their arrival.
Increased Efficiency: Just-In-Time ordering helps shorten lead times as raw materials are ordered only when necessary for production; leading to greater productivity gains overall.
Disadvantages of Just in Time production (JIT):
JIT requires businesses to become increasingly dependent on suppliers for materials delivery on time or at required quality levels; any supplier failure could create major disruption in operations and create costly supply issues for business operations.
Transportation Costs Increase with JIT Delivery Frequencies: JIT deliveries often necessitate more frequent delivery trips, which increases transportation expenses.
Difficulties Responding to Unexpected Changes: JIT requires accurate forecasts for demand and lead times
Requiring an efficient supply chain: JIT requires close cooperation between businesses and suppliers in the supply chain.
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What is the GDP growth rate?
What is GDP per capita growth rate?
What is the productivity growth rate?
Help ASAP. The assignment's due tonight
Answers
The GDP growth rate, also known as economic growth rate, is measure of the change in country's gross domestic product (GDP) over a specific period of time, usually year or quarter.
What is economic growth?Economic growth refers to the increase in the production and consumption of goods and services in an economy over a specific period. This growth can be measured by changes in gross domestic product (GDP), which is the total value of all goods and services produced within a country's borders. Economic growth is generally seen as a positive development, as it creates jobs, increases income and improves living standards for people. However, it can also have negative consequences such as environmental degradation, inequality and inflation. Governments and central banks often try to promote economic growth through various policies, such as fiscal stimulus, monetary policy and investments in infrastructure and education.
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Using technology, determine the present value given that you make semi-annual payments of $2,527 at 6.1% compouded semi-annually over a 6 year period. round your answer to the nearest cent. a. $25,078.86 b. $25,146.48 c. $20,963.57 d. $21,070.31
Answers
The present value would be $21070.31. Semi-annual payments of $2,527 at 6.1% compounded semi-annually over a 6 year period, means, payment is made semi annually that is two times in a year.
How to calculate?Given that,
semi-annual payments of $2,527 at 6.1% compounded semi-annually over a 6 year period.
It means, payment is made semi annually that is two times (twice) in a year.
Payment made = $2527.
Interest rate =6.1%
Hence, compounded semi annually = 0.061
Time duration = 6 years = 6 × 2 = 12 (two times)
Using Formula: P = A * i / 1 - (1 + i)-t
Therefore,
Where,
A = amount to pay
P = payment made
t = time duration
i = interest rate
By placing given values in the formula, we obtain,
A=21070.306476
Hence, the present value is $21070.31
How many semi-annual payments?Employers who choose this schedule can choose to pay the employee either on the 1st and 15th of the month, or on the 16th and the last day of the month. A half-month salary has 24 payment periods and is most commonly used by office workers.
What date is semi annual?Semi-annual dates mean June 30th and December 31st of each year.
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Answer:D
Explanation:
edge
Will mark BRAINLIEST!
What advantages would an AIS offer in using it for your personal finances?
A. help you to find profitable investment opportunities
B. help you accurately record your income and expenses
C. help you to print pretty charts and graphs
D. help you balance your checkbook
E. help you to spend less money
Answers
Answer:
B. help you accurately record your income and expenses
Explanation:
The advantages of advantage that an AIS would offer in using it for your finances is "it would help you accurately record your income and expenses."
The AIS otherwise known as Accounting Information System is a form of systemic structure in which a company or business financial data are gathered, stored, process, and accessed when needed to be used for business or financial decisions. It offers a high level of accuracy, security and easily accessible.
Information for each transaction recorded in a journal is called
Answers
A journal is a record-keeping tool used in accounting to document financial transactions. The information recorded for each transaction in a journal is called a journal entry.
What is journal entry?Description: A brief description of the transaction.Debit and Credit: The accounts affected by the transaction and the amounts debited or credited to each account.Reference number: A unique identifier for the transaction, such as a check number or invoice number.Debits and Credits must equal: Debits and credits must always equal, as they are the two sides of a transaction. The total of debits must equal the total of credits in order to maintain the double-entry accounting system.Supporting documentation: Copies of supporting documents, such as invoices or receipts, may also be attached to the journal entry for reference.Accounting period: The accounting period in which the transaction occurred.Journal entries serve as the foundation for the accounting records and are used to update the general ledger, which is a record of all the financial transactions for a business. Journal entries must be accurate, complete, and reflect the true nature of the transaction.To learn more about journal entry refer:
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Privott, Inc., manufactures and sells two products: Product Z9 and Product N0. The company is considering adopting an activity-based costing system with the following activity cost pools, activity measures, and expected activity:
Estimated Expected Activity
Activity Cost Pools Activity Measures Overhead Cost Product Z9 Product N0 Total
Labor-related DLHs $ 337,018 7,700 4,300 12,000
Product testing tests 52,247 1,050 1,150 2,200
Order size MHs 477,608 5,300 5,600 10,900
$ 866,873
The activity rate for the Labor-Related activity cost pool under activity-based costing is closest to:
A. $45.43 per DLH
B. $394.03 per DLH
C. $49.76 per DLH
D. $28.08 per DLH
Answers
Answer:
Option D is correct
Activity rate for the Labor-Related activity cost pool= $28.08 per DLH
Explanation:
Activity-based costing is a form of absorption costing where overheads are charged to product using cost drivers.
Under this method, overheads are first analyzed and categorized by the activities responsible for them and then charged to product based on the amount of benefits enjoyed using cost drivers.
Activity rate per driver is calculated as:
Activity overhead for the period / Total cost drivers for the period
Activity rate for the Labor-Related activity cost pool
= Labour related overheads/Total labour hours
= $ 337,018 /12,000 labour hours
= $28.08 per Direct labour hour
Activity rate for the Labor-Related activity cost pool= $28.08 per DLH
in connection with the adoption of an eligible child who is a u.s. citizen and who is not a child with special needs, sean pays $4,000 of qualified adoption expenses in 2020 and $3,000 of qualified adoption expenses in 2021. the adoption is finalized in 2021. there is no phase-out of the adoption credit. what are the adoption credits for both 2020 and 2021, respectively? a.$4,000; $1,000 b.$7,000; $0 c.$0; $7,000 d.$4,000; $3,000
Answers
The adoption credit for both 2020 and 2021, respectively, is $4,000 and $3,000. (d)
The adoption is finalized in 2021.There is no phase-out of the adoption credit. To claim the Adoption Credit, complete Form 8839, Qualified Adoption Expenses, and attach the form to your Form 1040, U.S. Individual Income Tax Return. It is not refundable, and any unused credits from the current tax year may be carried forward up to five years.
Adoption Credit is a non-refundable tax credit that can be applied to an adoptive family's federal income tax liability. Taxpayers can apply qualified adoption expenses, such as court fees, attorney fees, and travel costs, to the adoption credit. The adoption credit is only available for eligible expenses paid to adopt a child who is a US citizen or resident alien, and it is only available in the year the adoption is finalised.
Sean pays $4,000 of qualified adoption expenses in 2020 and $3,000 of qualified adoption expenses in 2021. (d)
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urban structure in the united states could be said to be a product of what economists call the bid-rent. what is meant by the bid-rent?
Answers
The bid-rent theory is an economic concept that explains how the price and demand for real estate are influenced by their location and accessibility.
It states that the value of a particular piece of land is determined by the maximum amount someone is willing to pay for it, based on its location and access to amenities and resources.
As an area becomes more desirable, demand for the land increases, and the bid-rent for that location also increases. This can lead to the development of high-density urban areas where property values are high, and lower-density suburban areas where property values are lower.
In the United States, this theory has played a significant role in shaping the urban structure of cities, as developers seek to maximize profits by locating their properties in areas with high bid-rent values.
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PLEASE HELP IT IS URGENT DO NOT WASTE ANSWERS
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wichtel company issues $100,000 face amount, 10% semiannual bonds that are due in 7 years. the market interest rate is 8%. to calculate the issue price of the bonds, wichtel should use an interest rate of blank % and blank # of interest periods.
Answers
Wichtel Company issues $100,000 face amount, 10% semiannual bonds that are due in 7 years. The market interest rate is 8%. To calculate the issue price of the bonds, Wichtel should use an interest rate of 4 % and 14 of interest periods.
8%/2 = 4%; 7 years x 2 (semiannual) = 14
Bonds are issued via governments and organizations once they need to elevate coins. via looking for a bond, you're giving the provider a loan, and they comply with pay you returned the face price of the loan on a specific date, and to pay you periodic interest payments along the way, typically two times a yr.
A bond is a debt protection, similar to an IOU. borrowers hassle bonds to raise money from buyers inclined to lend them money for a positive quantity of time. at the same time as you purchase a bond, you are lending to the issuer, which can be a central authority, municipality, or organisation.
In finance, a bond is a form of safety below which the agency owes the holder a debt, and is obliged – relying at the phrases – to pay off the primary of the bond on the maturity date as well as hobby over a positive amount of time.
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Who has the most goals in fifa history
Answers
Answer:
Pele
explanation:
In 1.9k+ goals
Match the level of unemployment with the condition of the overall economy. Unemployment equals the natural rate. Cyclical unemployment equals zero. Unemployment is below the natural rate. Unemployment is above the natural rate. Actual GDP is below potential GDP. Actual GDP is equal to potential GDP. Actual GDP is above potential GDP.
Answers
Answer:
Note: The organized question is attached as picture
1. Actual GDP is below potential GDP
Level of unemployment: Unemployment is above the natural rate
2. Actual GDP is equal to potential GDP
Level of unemployment: Unemployment equals the natural rate
3. Actual GDP is above potential GDP
Level of unemployment: Unemployment is below the natural rate
Real GDP, unemployment, and ____ are the main statistics used by economists to assess the health of the economy.
Answers
Real GDP, unemployment, and inflation are the main statistics used by economists to assess the health of the economy.
What are the three measures of a healthy economy?
Once upon a time, the inflation rate, unemployment rate, and growth rate of the gross domestic product were the three main indicators of economic health that could be used to determine the state of the economy.
Why does inflation occur?
The rate of price growth over an extended period of time is known as inflation. The cost of living in a nation has increased, or prices have generally increased.
These are examples of broad measures of inflation. As household incomes improve as a result of more jobs and higher earnings and an increase in consumer spending, the potential for price increases by businesses to raise the cost of their goods and services increases.
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Which of the following is not a step in the decision making process
a.Identify Choices
b. MAKE a decision
c.Consult a career coach
d. DEFINE your needs and wants
Answers
Career Coach is wrong (Pretty sure)
Whose life is covered on a life insurance policy that contains a payor benefit clause?
A. Parent
B. Beneficiary
C. Child
D. Spouse
Answers
The life insurance policy that contains a payor benefit clause is designed to protect the child in case the parent or payor of the policy dies or becomes disabled. Therefore, the answer is A, Parent.
In this type of policy, the premium payments are typically made by the parent or payor, but if the payor dies or becomes disabled before the policyholder (the child) reaches a certain age, the insurer will waive the premiums for the remainder of the policy term. This ensures that the child will continue to be covered by the policy, even if the payor is no longer able to make the payments.
It is important to note that the payor benefit clause only applies to the premium payments and does not affect the death benefit, which is still paid out to the beneficiary (typically the child) upon the death of the policyholder.
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Susan Sleugh earns $89,079 annually. Income tax is charged using the following information: 1.11% on on first $45225 of taxable income 2.13% on next $83989( over $ 45225 upto $129.214) 3. 15% on $129.214 Calculate the annual income tax payable.
Answers
Susan Sleugh earns $89,079 annually. Income tax is charged using the following information: 1.11% on the first $45225 of taxable income, 2.13% on the next $83989( over $ 45225 up to $129.214), and 15% on $129.214. Susan Sleugh's total tax payable is $-3526.60.
For income below $45225, the rate of tax is 1.11%. Therefore the amount of tax that Susan has to pay for the income below $45225 is:1.11/100 × 45225 = $501.28
Next, for the next $83989( over $ 45225 up to $129.214) the rate of tax is 2.13%. Therefore, the amount of tax that Susan has to pay for this amount is 2.13/100 × 83989 = $1791.27Now, for the amount above $129.214, the rate of tax is 15%.
Therefore, the amount of tax that Susan has to pay for the amount above $129.214 is:15/100 × (89079 - 129214) = -$5829.15. Hence, her total tax payable for the year is Total tax payable = $501.28 + $1791.27 - $5829.15= -$3526.60. Susan Sleugh's total tax payable is $-3526.60.
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A partner could invest Accounts Receivable into a partnership. True False
Answers
The statement "A partner could invest Accounts Receivable into a partnership" is False.
Accounts receivable is an asset that represents the amount of money owed to a company by its customers for goods or services provided on credit. It is not an investment that can be contributed to a partnership. In a partnership, partners typically contribute capital in the form of cash, property, or other tangible assets. Accounts receivable would remain as an asset of the company, and the partnership agreement would govern how the company's assets, including accounts receivable, are utilized within the partnership structure.
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What is the relationship between interest rates and aggregate spending?
A.
when interest rates increase, aggregate spending also increases
B.
when interest rates increase, aggregate spending decreases
OC. they do not have any relation
OD
both the factors are affected favorably by any external factor
O E.
both the factors are affected adversely by any external factor
Answers
Answer:
B. when interest rates increase, aggregate spending decreases
Explanation:
Interest rates and aggregate spending have an inverse relationship. An increase in interest rates results in a decrease in aggregate expenditure. Interest refers to the cost of money, while aggregate spending is the total consumption in the economy.
When the cost of money is high, firms and households will stop borrowing, which reduces spending. It means businesses will not expand, and domestic consumption reduces. The net effect is a lower demand for goods and services, resulting in lower aggregate spending.
Answer:
when interest rates increase, aggregate spending decreases
Explanation:
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Relationship service marketing differs from traditional service marketing in that in relationship service marketing:
need satisfaction is approached from the standpoint of the "part."
the primary sales contact is through a trained marketing professional.
profitability is assessed on individual services.
the emphasis is on selling the service a customer requests.
Answers
In relationship service marketing, the correct statement is: need satisfaction is approached from the standpoint of the "part."
Relationship service marketing focuses on building and maintaining long-term relationships with customers. It recognizes the importance of understanding individual customer needs and preferences. Rather than solely emphasizing selling the service a customer requests, relationship service marketing aims to identify and fulfill the broader needs of the customer, even those they may not explicitly express. It involves tailoring services to meet individual customer requirements and building trust and loyalty over time. The primary goal is to develop strong, mutually beneficial relationships with customers, considering their specific needs and preferences as the foundation for delivering exceptional service.
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Eliza Conner owns a small clothing boutique. Eliza uses her personal checking account for both business and personal needs. How would you convince Eliza that she should open a separate
bank account for her business?
Answers
Answer:
1. It will cause them confusion throughout the tax calculating process.
2. Using a single account will make it difficult to keep payroll records.
3. Keep track of your personal expenses and earnings.
Explanation:
1. It is preferable to establish a separate account to separate the firm's actual income and expenses.
2. Payroll expenses are indistinguishable from personal expenses.
3. This allows you to cross-check bank and hand-made documents for income and expenses. Because cash transactions may not be recorded in the bank account, the entrepreneur should preserve receipts in order to compute revenue and expenses, which may result in erroneous financial statements.