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3 years ago

What is a credit limit?

2 answers:

7 0

A credit limit<span> is the maximum amount of credit that a financial institution or other lender will extend to a debtor for a particular line of credit (sometimes called a credit line, line of credit, or a tradeline).</span>

tigry1 [53]3 years ago

5 0

Credit limit refers to the maximum amount of credit a financial institution extends to a client through a line ofcredit.

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he one key questionable premise underlying personality tests is a. they presuppose that all employees can be validly placed in a

statuscvo [17]

Answer:

c. that all individuals can usefully and validly be categorized on the basis of a relatively small number of personality characteristics.

Explanation:

Personality test asserts that individuals can be categorized based on some personality traits, this is not totally correct as it tends to narrow an individuals personality based on a few characteristics, whereas, an individuals personality is composed of a wide array of traits.

4 0

3 years ago

A sole proprietor in the 37% tax bracket pays her 16-year-old son a reasonable salary of $14,000 for services performed for the

Daniel [21]

Answer: $5020

Explanation:

The family's income tax savings if the son has no other income and takes a $12,400 standard deduction will be calculated as:

Explanation:

Tax savings from deduction = ($14,000 × 37%) = $5180

Less: Tax on child's taxable income = 10% × ($14,000 - $12,400) = 10% × $1600 = $160

Family's income tax savings = $5180 - $160 = $5020

3 0

3 years ago

The following information is for employee Ella Dodd for the week ended March 15.

Brut [27]

Answer:

a. The total earnings is $840

The total deductions is $313

The cash paid is $527

b. The Social security and medicare taxes is $63

The State unemployment tax is $28.56

The Federal unemployment tax is $6.72

Explanation:

a. To calculate the (1) total earnings, (2) total deductions, and (3) cash paid we would have to calculate the following formula:

1. Total earnings=(15*40)+((48-40)*15*2)

Total earnings=$840

2. Total deductions=(Federal Tax+United fund deduction+Social security tax+Medicare tax)

Total deductions=$200+$50+($840*6%)+($840*1.5%)

Total deductions=$313

3. Cash paid=Total earnings-Total deductions

Cash paid=$840-$313

Cash paid=$527

b. The calculation of each of the employer's payroll taxes related to the earnings of Ella Dodd for the week ended March 15 would be the following:

Social security and medicare taxes=$840*(6%+1.5%)

Social security and medicare taxes=$63

State unemployment tax=$840*3.4%

State unemployment tax=$28.56

Federal unemployment tax=$840*0.8%

Federal unemployment tax=$6.72

7 0

4 years ago

With respect to delaying revenue recognition until completion of a long-term contract, it is the case that: Multiple Choice A) E

hichkok12 [17]

<h2>Estimated losses on the overall contract are recognized before the contract is completed. </h2>

Explanation:

Revenue recognition cannot be done prior to the completion of contract.

But the asset can be created. Only after the contract gets completed the revenue recognition can be realized.

For a long-term project, the revenue can be recognized based on the percentage of completion.

Revenue recognition keeps financial transactions aligned.

Option A: valid

Option B Invalid, because expenses are also recognized

Option C: This process is acceptable.

Option D: Gains and profits are calculated in this type of method

8 0

4 years ago

I Just need somebody to check my test for me please .. And if i got some wrong explain why ? Thanks to anyone for the help i rea

GarryVolchara [31]

<span>Margaret Rousseau developed techniques to mass-produce: penicillin. Explanation: Margaret Rousseau was a chemical engineer who designed the first penicillin production plant

An entrepreneur is best defined as a person who: takes financial risk to try new business ideas Explanation: The element of financial risk is inherent in entrepreneurship.</span>

7 0

3 years ago