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fredd [130]
2 years ago
12

In the context of agency law, outside accountants and subcontractors hired to perform construction projects are examples of ____

____. Group of answer choices traders independent contractors agents mediators principal employers
Business
1 answer:
Y_Kistochka [10]2 years ago
3 0

The answer is Independent Contractors.

According to the law, An independent contractor is a person who contracts with another to do something for him (or her) but who is not controlled by the other nor subject to the other's right to control with respect to his (or her) physical conduct in the performance of the undertaking. He (or she) may or may not be an agent.

Some examples of independent contractors include:

  • Subcontractors and building contractors both work independently. The way a contractor and subcontractors carry out their work is not under the authority of the property owner who engages them to finish a project.
  • Independent contractors are those who own their own trucks and hire them out on a job-by-job basis; however, those who regularly drive business trucks are typically employees.

Hence, In the context of agency law, outside accountants and subcontractors hired to perform construction projects are examples of Independent contractors.

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Dragon Inc. a NJ based construction firm is evaluating whether to replace an aging machine with a new model. For the old machine
Vilka [71]

Answer:

It should replace the old machine. In the current accounting period.

Explanation:

We need to perform a relevant cost analysis:

Keep the machine:

F0 = $0

F1 = $1500 maintenance

F2 = $3,000 maintenance

F3 = $6,000 maintenance

F4 = $12,000 maintenance

F5 =$24,000 maintenance + 250 resale value

replace the machine:

F0 = -12,000 purchase + 4,000 sale of old machine = -800

F1 = $900 maintenance

F2 = $900 maintenance

F3 = $900 maintenance

F4 = $900 maintenance

F5 =$900 maintenance + 1,500 resale value

As revenues are the same for each machine, we ignore them. We will only focus on the cost each machine generate:

We solve for the present worth of each machine with a discount rate of 12%

\displaystyle PV_{old} = -\frac{1,500}{1.12} - \frac{3,000}{1.12^2} - \frac{6,000}{1.12^3} - \frac{12,000}{1.12^4} - \frac{23,750}{1.12^5}\\\\\displaystyle PV_{old} = -29,104.15

\displaystyle PV_{new} = -8,000 - \frac{900}{1.12} - \frac{900}{1.12^2} - \frac{900}{1.12^3} - \frac{900}{1.12^4} +  \frac{600}{1.12^5}\\\\\displaystyle PV_{new} = -10,393.16

As the present worth of the new machine is lower, the best decision for the company is to purchase the new machine and sale the old machine.

Delaying this will incur in higher maintenance cost (1,500 - 900)

and a lower recovery value (4,000 - 2,000)

As there is no cost saving for delaying the purchase, it should be made immediately.

8 0
3 years ago
Shady Lane's income tax payable account decreased from $14 million to $12 million during 2016. If its income tax expense was $80
maria [59]

Answer:

A cash outflow of $82 million.

Explanation:

Because during the year Shady had taxes expenses for $80 million but then Shady cancelled $2 million of the Income Tax Payable account, which decreased from $14 million to $12 million.  

3 0
3 years ago
According to the goldman sachs video case study on the factory of the future, which one of the following developments was not de
Schach [20]

Daniela Costa, head of the European Capital Goods Equity Research team in Goldman Sachs Research, outlines three key drivers of this development, which could provide more than $500 billion in combined savings for manufacturers and customers.

Goldman Sachs is an American multinational funding financial institution and monetary offerings company. Founded in 1869, Goldman Sachs is situated at 2 hundred West road in decrease big apple, with local headquarters in London, Warsaw, Bangalore, Hong Kong, Tokyo, and Salt Lake town, and extra places of work in different global monetary facilities. Goldman Sachs is the second biggest investment financial institution in the international through sales and is ranked 57th at the Fortune 500 listing of the largest united states of America companies by overall revenue. It's miles considered a systemically critical financial institution by way of the economic balance Board. The employer has been criticized for a lack of ethical standards, working with dictatorial regimes, close relationships with the U.S. Federal government thru a "revolving door" of former employees, and using up charges of commodities through futures hypothesis.

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3 0
1 year ago
2700 thousand bonds with a face value of $1000 each, are sold at 106. The entry to record the issuance is
IceJOKER [234]

Date, bonds sold at a premium

Dr Cash $28620000000

   Cr Bonds payable $2,700,000,000

   Cr Premium on bonds payable $1,62,000,000

Explanation:

The total face value of the bonds is $1,000 x 2700,000 bonds = $2,700,000,000

since the bonds were sold at 106, their price was =

$2,700,000,000 x 106% = $28620000000

the difference between the face value and the actual market price = $2,862,000,000 - $2,700,000,000 = $1,62,000,000 must be recorded as premium on bonds payable (increases the bonds' carrying value)

<h3>What is the difference between market value and face value?</h3>
  • The market value is the actual price at which the security trades on the open market, as well as the price that fluctuates when the yield reacts to changes in interest rates.
  • The face value is determined by the issuing company. It may be the value at which the firm redeems the shares at some point in the future, but there is no guarantee.

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7 0
2 years ago
Antony Johnson works in the human resources department of a small wholesale company. His boss has delegated to Johnson the job o
nikdorinn [45]

Answer:

made accountable

Explanation:

In an organisation when total responsibility is placed on a staff for a particular task, he is accountable for the outcome.

In the given scenario his boss has delegated to Johnson the job of finding a replacement for the company's shipping dock supervisor who has recently retired.

Johnson will need to find a person that meet the technical and moral standards that the job requires.

Johnson will be held accountable for the performance of the replacement staff.

3 0
3 years ago
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