This is the result of the process:
Agency is terminated by fulfillment
Explanation:
The process that the person is hired for has been completed as they are a broker agent and their work is to make the purchase of the office building possible.
Until the building was to be purchased they had an amount of agency about them but this is not valid as soon as the work is terminated or completed.
So here, the agency is terminated by the fulfillment of the work that was assigned to the broker.
There is no work in the deal remaining to be done so the agency is taken away by default.
Answer:
d. Gift taxes paid two years prior to the decedent’s date of death for gifts made four years earlier.
Explanation:
Gross estate is a financial summary of the monetary value of the total assets of an individual excluding tax liability or debt owed after their demise or death.
Gift taxes paid two years prior to the decedent’s date of death for gifts made four years earlier are included in the gross estate.
The adjusting entry for prepaid expenses increases expenses and decreases liabilities.
Answer: Option 4.
<u>Explanation:</u>
Prepaid expenses are future costs that have been paid ahead of time. As it were, prepaid costs will be costs that have been paid yet are not yet spent or have not yet lapsed. As the sum lapses, the present resource is diminished and the measure of the decrease is accounted for as a cost on the pay proclamation.
Prepaid expenses are future costs that have been paid ahead of time. You can consider prepaid costs as costs that have been paid yet have not yet been spent or have not yet terminated. The measure of prepaid costs that have not yet lapsed are accounted for on an organization's monetary record as an asset.
Answer:
Present Value= $252,796.04
Explanation:
Giving the following information:
Cash flow 1= 39,000
Year 2= 43,000
Year 3= 88,000
Year 4= 132,000
The discount rate is 6.1%
To calculate the present value of the settlement, we need to use the following formula for each cash flow:
PV= FV/(1+i)^n
PV= 39,000/1.061 + 43,000/1.061^2 + 88,000/1.061^3 + 132,000/1.061^4
PV= $252,796.04
Answer:
A level in an organization where groups specialists actually create value for the organisation.
Explanation:
Functional level approach is used by the management of an organisation to monitor the level of activities carried out by various departments.
Functional level outlines how different employees in each departments such as marketing, production carry out their various tasks to achieve the set goals and objectives of the organisation. Functional level approach utilized a number of specialists that are present within the functional loacation. It also helps in the proper allocation of resources to different departments so as to maximise profit.
