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1 year ago

When an employer hires an employee to enter into contracts on behalf of the employer, a ______ relationship typically exists.

1 answer:

6 0

When an employer hires an employee to enter into contracts on behalf of the employer, an <u>agency relationship</u> typically exists.

An agency relationship exists between an employer and the employee, when the former authorizes the latter to act on his behalf, including to enter into contracts and agreements.

The employer is called the principal, and the employee is called the agent. These arrangements are made with the consent of both parties, and the principal is bound by what his agent does.

Agency relationships are essential for firms that do business globally. This is because the principal, through the agent, is able to be in more than one place at a time, thereby expanding the scope of their business.

To learn more about agency relationships: brainly.com/question/15129864

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If the Market Equilibrium Wage Rate is $105.00 and FC = $1500.00: A. The firm Shuts Down and hires no workers and loses $1500.00

BartSMP [9]

Answer: B. The firm hires 45 workers and earns a $1,200.00 Economic Profit

Explanation:

If the Market Equilibrium rate is $105 then the company should hire 45 workers as shown in the table.

If they did that, revenue would be $7,425

Expenses would be wages and fixed costs:

= Wages + fixed costs

= (45 workers * wage rate) + 1,500

= (45 * 105) + 1,500

= $6,225

Economic profit would be:

= 7,425 - 6,225

= $1,200

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3 years ago

Dr. Shetty is able to drive down the cost of complex medical procedures from $100,000 to $2,000 not by doing one big thing, but

melomori [17]

Answer:

C. Process Innovation.

Explanation:

As Dr. Shetty is able to drive down the cost of complex medical procedures from $100,000 to $2,000 not by doing one big thing, but rather by doing a thousand small things. This approach focuses on driving down the cost of healthcare through process innovation. Process innovation is the mechanism when we implement a new or significantly improved manufacturing method with the help of a new technology in order to remain competitive and meet consumers demands at the same time. We try to solve an already existing issue or reforms an existed process in a different way to generate something with huge benefits, likewise, same is the case here with Dr. Shetty who has reduced the cost of healthcare quite significantly just by changing and improving his production methods.

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3 years ago

In 2018, its first year of operations, Kimble Corp. has a $740,000 net operating loss when the tax rate is 35%. In 2019, Kimble

ivanzaharov [21]

Answer:

Explanation:

The journal entries are shown below:

a) Deferred tax asset A/c Dr $259,000 ($740,000 × 35%)

To benefit due to loss carry forward $259,000

(Being recording of the carry forward amount is done)

Benefit due to loss carry forward A/c Dr $259,000

To allowance to reduce deferred tax to expected realizable value $259,000

(Being allowance amount is recorded)

b) Income tax expense A/c Dr. $101,500 ($290000 × 35%)

To Deferred Tax Asset A/c $101,500

(Being recording of current tax and deferred tax is done)

Allowance to reduce deferred tax to expected realizable value Dr $101,500

To benefit due to loss carry forward $101,500

(Being allowance eliminated and carry forward loss is recorded)

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3 years ago

Strategies on how to minimize expenses in cooking?

Nitella [24]

Answer:

1. Calculate Your Food Costs

2. Be Consistent When Calculating Inventory

3. Work with Your Food Suppliers

4. Join a Group Purchasing Organization

5. Manage Your Food Orders

6. Implement Restaurant Portion Control

7. Use the First In, First Out (FIFO) Method

8. Utilize Your Daily Specials

9. Keep Your Staff Informed

Explanation:

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2 years ago

efferson is interested in starting his own business. He plans to borrow money from the local bank in order to finance the busine

sweet-ann [11.9K]

The will require him to submit a business plan and a financial plan.

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3 years ago