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ohaa [14]
3 years ago
9

Thirty-one days before filing a petition in bankruptcy, Gavin transfers property and makes payments that favor one creditor over

another. These are​ ​affirmation agreements. ​preferences. ​secured interests. ​unsecured debts.
Business
2 answers:
Nookie1986 [14]3 years ago
5 0

Answer:

preferences

Explanation:

Preference' : This occurs when a particular creditor is placed in a more beneficial position, to the detriment of the remaining creditors in that group. And by doing so makes that creditor "better off" than the majority of other creditors in the group.

fiasKO [112]3 years ago
3 0

Answer:

preferences

Explanation:

Preferences in bankruptcy proceedings include any property transfer or payments carried out in favor of an specific creditor over the rest, this shows that the debtor gave preference to that specific debtor.

Preference payments or transfers can be declared null by the courts or bankruptcy trustee and they may order to recover the transferred property or payments carried out to that specific creditor.

E.g. you are about to declare bankruptcy and you owe money to your brother, you cannot transfer him the title of your house because it would be considered a preference by the bankruptcy trustee.

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<span>From the monopolist points of view the benefits are, holding 100% of the market, the ability to have a great influence on price and of course, no competition. 

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6 0
3 years ago
A limited liability company that has two or more members can be taxed as a corporation.
Novosadov [1.4K]

It's true a limited liability company that has two or more members can be taxed as a corporation.

Option A) is true.

If you form a multiple-member LLC and do not file a special form with the IRS, the LLC will be taxed as if it were a partnership. You may elect to be treated as an S Corporation by filing IRS Form 2553, Election by a Small Business Corporation.

A multi-member limited liability company is treated as a pass-through entity for federal income tax purposes. As with a sole proprietorship GmbH, this means that the GmbH does not pay its own taxes. Instead, each member pays taxes on the company's income in proportion to their interest in the LLC.

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3 0
1 year ago
The following information is for employee William Heedy for the week ended March 15.
ioda

Answer:

1. b. $896.00

2. c. $317.20

3. a. $578.80

4. b. $67.20

5. d. $4.80

Explanation:

1. WIlliam's total earnings

40 hours at $16 = $640

8 hours at $32 = $256

Total                  = $896

2. WIlliam's total deductions

Income Tax                                        $200

United Fund deduction                     $50

Social security tax (6% * $896)         $3.76

Medicare tax (1.5% * $896)                <u>$13.44</u>

Total                                                    <u>$317.20</u>

3. William's net pay

= Total earnings - Total deductions

= $896 - $317.20

= $578.80

Cash Paid is $578.80

4. Employers FICA based on Williams pay

Social Security and Medicare taxes = 7.5% * $869 = $67.20

5. Employers Federal Unemployment based on Williams pay

Federal unemployment tax = 0.8% * $600 = $4.80

7 0
3 years ago
Gary’s Company produces high quality shirts. Shirts must be well made because of frequent washings. Currently, Gary sells 10,000
grin007 [14]

Answer:

Unless the capacity is expanded or some of the production gets outsource, the offer is not convenient.

Explanation:

Giving the following information:

Currently, Gary sells 10,000 shirts at $60 each with the capacity to produce 11,000 shirts. Gary is considering a special order for 1,800 shirts for $40.

Gary has the following costs:

Unit Costs $200,000

Facility Costs $140,000

If Gary accepts the special order, they will incur an additional $2 per shirt in foreign currency transaction costs.

Because it is a special offer and there is unused capacity, we will not have into account the fixed costs.

variable cost per unit= (200,000/10,000) + 2= $22

Effect on income= (40 - 22)*1,800= $32,400

We have to take into account the loss of not selling 1,000 units.

Effect on income= 1,000*40= $40,000

Total effect= 32,400 - 40,000= $7,600

Unless the capacity is expanded or some of the production gets outsource, the offer is not convenient.

6 0
3 years ago
What is cosideration
yaroslaw [1]

i don't no but pls give me the crown

8 0
3 years ago
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