Answer:
Correct option is (b)
Explanation:
Disabled access credit is granted by IRS to small business owners on expenses incurred by them in making their structure accessible for physically handicapped people. Cost incurred could be on constructing ramps for wheelchairs or providing hear aids to people with hearing impairment.
The maximum credit is $5,000 or 50% of cost not exceeding $10,250 ($250 initial cost cannot be claimed for exemption), whichever is less.
Here, Cost incurred is $11,000. So 50% (10,250 - 250) or 0.5×10,000 that is $5,000 would e Amber's disabled access credit.
Answer:
Predetermined manufacturing overhead rate= $33.33 per direct labor hour
Explanation:
Giving the following information:
Next year, the company anticipates total overhead costs of $2.5 million.
Estimated direct labor hours= 75,000
<u>To calculate the predetermined manufacturing overhead rate we need to use the following formula:</u>
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= 2,500,000/75,000
Answer:
12.92% annual rate
Explanation:
the annual yield of a T-bill can be calculated using the following formula:
Y = [(F - P) / P] x (365 / n)
- f = face value = $100
- p = price = $96.88
- n = number of days = 91
Y = [($100 - $96.88) / $96.88] x (365 / 91) = 0.0322 x 4.011 = 0.1292 = 12.92% annual rate
Answer: Agency
Explanation: Agency refers to the relationship between an agent and a principal. A principal is someone who is in charge of or owns something. An agent is someone who acts on behalf of the principal in a particular situation. This is a consensual relationship, as the principal requests the agent to act on their behalf. However the agent needs to operate in such a way that there is no conflict of interest between the principal's needs and the agent's needs. The agent has to put the principal's needs first. The agent will then act according to the prinicipal's instructions when dealing with third parties.
Pay the Premium in full and on time.
Explanation:
A No-lapse guarantee offers an insurance company commitment that a fixed life insurance policy is in place – even though, as long as the agreed retention premium is calculated at the required time, the cash value in the policies drops to zero or less than zero.
The No-Lapse insurance fee is the amount to be paid in order for the policy to remain in force unless the policy is carried out effectively for a certain number of years. The coverage will continue during the lapse period, even when the cash value drops to zero. The insurer provides the guarantee.
When the fee is not collected on the due date, it shall be deemed to have been default and the policyholder may forfeit his advantages. During that time, the fee can be charged without additional charges and the scheme remains in effect.
