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Zepler [3.9K]
2 years ago
5

Elizabeth is an account executive for a financial services firm that specializes in employee benefits services. She is meeting w

ith the owner of a small business that has grown to the level where it needs to provide extended employee benefits. Elizabeth is happy to help the small business owner and is excited about the opportunity to gain another customer. The company owner has purchased other insurance services such as property and casualty for the business, but has never purchased a group insurance plan and anticipates that it will take a considerable amount of time in the purchase process since this represents a significant decision for the company and its employees. What type of business purchase does this represent?
Business
1 answer:
Alborosie2 years ago
6 0

Answer:

The question is incomplete, it misses the option. The options are the following:

A. New-task

B. Straight rebuy

C. Modified rebuy

D. Contracted purchase

E. Limited modified buy

And the correct answer is the option A: New-task.

Explanation:

To begin with, in the field of business, the expresion of<em> ''new-task''</em> refers to the buying situation where the buyer purchases a product or a service for the very first time and therefore that he has no idea what to expect next accordingly to that new task because he has no information about it. Therefore that the buyer is looking for the help of Elizabeth in this case who represents a consultant that will help the buyer in this buying situation in order to try to make the best choice as possible.

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2 years ago
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Which of the following statements is true? Multiple Choice
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Answer: Option D

Explanation: Accounting profit is always equals to or greater than the economic profit of an entity. This is due to the fact that, while computing accounting profit the accountant do no take implicit cost into consideration.

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2 years ago
For each of the following depreciable assets, determine the missing amount. Abbreviations for depreciation methods are SL for st
makkiz [27]

Answer:

Please check the attached image for the answers

Explanation:

Check the attached image for a clearer image of the table used in answering this question

A.

Cost of asset = c

Useful life = 5

Depreciation expense using the double declining method = Depreciation factor x cost of the asset

Depreciation factor = 2 x (1/useful life)

= 2 × (1/5) = 0.4 = 40%

Because the depreciation factor is 40%, the remaining book value after depreciation would be 60%.

Note that : Book value in year 1 = Cost of asset - Depreciation expense of year 1

Book value in year in subsequent years = previous book value - that year's depreciation expense

The book value in year 2: 0.6c x $51,000

Solve for c = 51,000 / 0.6 = 85,000

So, the book value in year 2 is $85,000

The book value in year 1 which is also the cost of the asset can be found using this equation : (2 / 5 ) x c = $85,000

Solve for c = $85,000 × (5/2) = $212500

The cost of the asset is $212,500

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Sum of the year Depreciation expense = (number of useful life remaining / sum of useful years) x (Cost of asset - Salvage value)

number of useful life remaining at year 2 = 7

Sum of useful life = 1 + 2 + 3 + 4 + 5 + 6 + 7 + 8 = 36

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0.194444 × ($40,000 - Salvage value) = $7,000

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Straight line depreciation expense = (Cost of asset - Salvage value) / useful life

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= $90,000 / useful life = $9,000

Solve for useful life, useful life = 10 years

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To find the depreciation method used , we have to employ trial and error method. We would try all the depreciation methods available and determine which depreciation method would give us the depreciation value of $23,900

I would start with the straight line depreciation method Deprecation method.

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From the above calculation, the depreciation method used is the straight line depreciation method.

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The 150% declining method = Depreciation factor x cost of the asset

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Depreciation expense in year 2 = 0.1875 x $177,937.50 = $33,363.28

I hope my answer helps you

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Answer:

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