Taxes are used for which of the following?

Assume that Hann did not pay her student loans in full and did not have any supporting evidence that indicated that she did. Ins

Elina [12.6K]

Answer:

True - Because the court will test for her insolvency and/or living hardship with the Brunner test which requires her showing that she cannot maintain, based on current income and expenses, a “minimal” standard of living. This is not the case because she is employed.

Explanation:

1. Assume that Hann did not pay her student loans in full and did not have any supporting evidence that indicated that she did. Instead, Hann claims that she does make enough money to pay her full loan payment each month and that they should be forgiven. Hann is employed and makes an average salary for her occupation.In order to obtain relief from her debts, Hann need not allege that she is insolvent and cannot pay her debts.

True - Because the court will test for her insolvency and/or living hardship with the Brunner test which requires her showing that she cannot maintain, based on current income and expenses, a “minimal” standard of living. This is not the case because she is employed.

2. Generally, student loans are not dischargeable in bankruptcy.

TRUE - Student loans are not discharged in bankruptcy unless you show that payment of the debt “will impose an undue hardship on you and your dependents.”

3. An exception to this rule is if there is evidence of undue hardship

TRUE - Student loans are not discharged in bankruptcy unless you show that payment of the debt “will impose an undue hardship on you and your dependents.”

4. It is likely that Hann's financial situation does not qualify her for discharge.

TRUE - Because Hann is employed and makes an average salary for her occupation. The court will test for her living hardship and the most common test is the Brunner test which requires a showing that the debtor cannot maintain, based on current income and expenses, a “minimal” standard of living; but this is not the case because she is employed

4 0

3 years ago

Perry Corporation manufactures two models of office chairs, a standard and a deluxe model. The following activity and cost infor

gladu [14]

Answer:

$46,800

Explanation:

Total overhead costs based on traditional systems of both products are: $52,000 +$78,000 = $130,000

Assuming that Perry Corporation applies the activity-based (setups and components) costing system instead of the traditional one, the overhead cost for the standard model can be calculated as following:

+) Overhead cost of each setup (for both products) = $52,000/(12 + 28) = $1,300

+) Overhead cost of each components (for both products)

= 78,000 / (8+12) = $3,900

=> Total overhead costs using activity - based costing system is:

Total overhead costs = 1,300 x Number setups needed for standard model + 3,900 x Number of components needed for standard model

= 1,300 x 12 + 3,900 x 8

= $46,800

4 0

3 years ago

Which is the following is a good way to control anger in the workplace

pochemuha

When you are at work, and you get angry on something, you need to do some anger control therapies.

Anger control therapies include, Deep breathing, counting from 1 to 10, slowly repeating a calming phrase in your mind, listen to your favorite music, take a short break, talk to your friend on work, drink water, use a stress relief toy, try to relax your muscles, etc.

These therapies will help you control your anger at work.

8 0

4 years ago

Although the perpetual inventory system updates accounting records after each sale, a physical count is necessary at year-end to

vivado [14]

Answer:

customer theft; spoilage.

Explanation:

A perpetual inventory system is a type of inventory management that continuously records in real-time the amount of inventory sold or purchased through the use of enterprise software or technological software applications such as a point of sale (POS).

Under a perpetual system of inventory, updates of the journal entry for cost of goods sold or received would include debiting accounts receivable and crediting sales immediately as it is being made or happening. The advantage of the perpetual system of inventory over the periodic system of inventory is that, it ensures the inventory account balance is always accurate provided there are no spoilage, customer theft, etc.

4 0

3 years ago

How would the following transactions affect U.S. exports, imports, and net exports?

Fiesta28 [93]

Answer:

A. As a result of the professors activities, import would increase while export remains unchanged. Net export would reduce.

B. Export would increase while import remains unchanged. Net import would increase

C. Volvos are made in Sweden. So, the Volvo would be imported. This increases import and export remains unchanged. Net export would reduce.

D. The sales takes place in England, so US export, import and net export would remain unchanged.

E. Export would increase while import remains unchanged. Net import would increase

Explanation:

Net export = Export - Import

3 0

3 years ago