All categories

2 years ago

A company that owns a life insurance policy on one of its key employees may do all of the following EXCEPT

2 answers:

8 0

A company that owns a life insurance policy on one of its key employees may not use death benefits for self-gain. This is further explained below.

<h3>What is a company?</h3>

Generally, a company is simply defined as one that deals in commerce.

In conclusion, The policy's death benefit is paid to the firm if the insured dies while employed by the company. In the event of a death, the funds might be utilized to replace the lost income while looking for a suitable successor and providing necessary training.

You might be interested in

Given the following data: Beginning raw materials inventory $30,000 Materials purchased 65,000 Ending raw materials inventory 40

Andrews [41]

Answer:

Option "b"$55000 is correct.

Explanation:

Below is the given values:

Starting raw material = $30000

Pruchased material = $65000

Raw material at the end = 40000

Now calculate the raw material used:

Raw material used = Starting raw material + purchases - ending raw material

Raw material used = 30000 + 65000 - 40000

Raw material used = 95000 - 4000

Raw material used = $55000

Thus option "b"$55000 is correct.

4 0

3 years ago

Kentucky Fried Chicken claims that 90% of its orders are delivered within 10 minutes of the time the order is placed. A sample o

PtichkaEL [24]

Answer

The answer and procedures of the exercise are attached in the following archives.

Step-by-step explanation:

You will find the procedures, formulas or necessary explanations in the archive attached below. If you have any question ask and I will aclare your doubts kindly.

5 0

4 years ago

If investors receive shares of stock in companies that they fund on crowdfunding websites like Kickstarter, would their investme

garik1379 [7]

Answer:

Yes, because it is an investment of money in a common enterprise and the investors expect profit from the efforts of others.

Explanation:

In the case when the investor would received the shares of the companies and that should be funded on the website of crown funding so this would be considered as securities as this a money investment that to be made in a common enterprise also the investor expected the profit. In addition to this, the SEC permits the equity crowdfunding with effective from May 2016

Therefore the first option is correct

3 0

3 years ago

Byrd Company produces one product, a putter called GO-Putter. Byrd uses a standard cost system and determines that it should tak

Natalka [10]

Answer:

Instructions are below.

Explanation:

Giving the following information:

Standard= 1 direct labor hour per unit

The total budgeted overhead at normal capacity is $1,080,000 comprised of $420,000 of variable costs and $660,000 of fixed costs.

During the current year, Byrd produced 74,000 putters, worked 98,300 direct labor hours, and incurred variable overhead costs of $133,200 and fixed overhead costs of $612,000.

First, we need to calculate the estimated overhead rate:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= (420,000 + 660,000)/120,000

Estimated manufacturing overhead rate= $9 per direct labor hour

Now, we can allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 9*98,300= $884,700

Finally, the total overhead variance:

Overhead variance= real overhead - allocated overhead

Overhead variance= 745,200 - 884,700

Overhead variance= 139,500 favorable

5 0

3 years ago

Suppose the following information (in thousands of dollars) is available for H.J. Heinz Company—famous for ketchup and other fin

Katena32 [7]

Answer:

Explanation:

The classified balance sheet comprises of the assets, liabilities, and stockholder equity. With the help of the accounting equation, the total assets are equal to the total liabilities including stockholder's equity.

The assets are further divided into current assets, fixed assets, and intangible assets. Similarly, the liabilities are also further divided but they do not have any intangible liabilities.

The preparation of the partial balance sheet is presented in the spreadsheet. Kindly find the attachment below:

4 0

4 years ago