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3 years ago

Which is the best example of the seniority rule?

Business

2 answers:

melomori [17]3 years ago

5 0

Answer:

An example of the seniority rule can be sighted in the US congress where congress members with higher number of serving years are allowed to choose their offices and committee assignments before the other members

Explanation:

Seniority rule is a rule made on the basis of length of service of an individual in an organization or Government agencies or in any Government body / Arm of Government, it has its demerits of disregard for hard work because it focuses mainly on just length of service.

Sphinxa [80]3 years ago

4 0

Seniority is being older or more experienced than someone else. An example of the seniority rule would be a 4 year senator being appointed to a committee over a newly elected senator.

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Prepaid Rent. On September 1 of the current year, the company prepaid $44,400 for two years of rent for facilities being occupie

bezimeni [28]

Explanation:

The computation is shown below:

a. The current account balance equal to $44,400

b. The current account balance equal to

Since the company prepaid rent for two years is $44,400 but we have to compute four four months i.e from September 1 to December 31

We assume the books are closed on December 31

So, the current account balance is

= $44,400 - $7,400

= $37,000

The $7,400 is come from

= $44,400 × 4 months ÷ 24 months

= $7,400

c. And, the adjusting entry is

Rent expense A/c Dr $7,400

To Prepaid rent A/c $7,400

(Being rent expense is recorded)

8 0

3 years ago

Knox Company has a new product with a projected selling price of $6.00 each. It estimates that it could sell 100,000 units annua

Pachacha [2.7K]

Answer:

350,000

And if done per unit, $3.50

Explanation:

Both sales and variable cost are dependent on the number of units sold.

The sales less the variable cost gives the contribution margin. The contribution margin less the fixed cost gives the net operating income.

The target cost of the product is the difference between the selling price and the anticipated profit.

Target cost per unit

= $6.00 - $2.50

= $3.50

Total Target cost = $3.50 * 100,000

= $350,000

6 0

3 years ago

Which type of portfolio might a young investor who is not afraid of risk choose? a portfolio of with a high percentage of stocks

ryzh [129]

The suitable portfolio for the young investor is a.) portfolio of with a high percentage of stocks. Stocks are a person's share in a company, giving them profits or losses based on a company's performance. Stocks are highly risky due to the unpredictable performance in the stock market, prices can rise or drop fast. However, the returns of the stocks are higher compared to other financial instruments.

5 0

3 years ago

The discount rate is the: multiple choice 1 interest rate at which banks can borrow reserves from other banks. lowest interest r

Reil [10]

Answer:

a. The discount rate is the

interest rate at which banks can borrow reserves from the Federal Reserve.

The discount rate is the interest rate that the FED charges commercial banks, credit unions, or other financial institutions for lending them money.

b. If the Fed were to decrease the discount rate, banks will borrow

more reserves, causing an increase in lending and the money supply.

Lowering the discount rate is considered part of an expansionary monetary policy since banks will borrow more money and lend more money to the public, increasing the money supply.

7 0

3 years ago

Read 2 more answers

The Fortunato Corp.'s inventory at Dec 31, 2018, was $325,000 based on a physical count priced at cost, and before any necessary

AleksandrR [38]

Answer:

$405,000

Explanation:

The computation of the ending inventory reported is shown below:

Inventory on December 31,2018 $325,000

Add: Goods purchased from a vendor i.e shipping point $30,000

Add: Goods sold FOB destination to customer $38,000

Add: consignment by Brecht Inc $12,000

Ending inventory reported $405,000

In the above cases, the added items indicates the ownership is transferred to buyer , received by buyer and remains with the buyer

4 0

3 years ago

Which is the best example of the seniority rule?​

Which is the best example of the seniority rule?