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kicyunya [14]
3 years ago
14

5. Max prepares a tax return for Ali at a VITA/TCE site. He finds out during the interview that Ali has no health insurance. Aft

er Ali leaves the site, Max writes her name and contact information down to take home to his wife who sells health insurance for profit. Which of the following statements is true?
a. There is no violation to the Volunteer Standards of Conduct (VSC) unless Max’s wife makes a big commission on the sale of health insurance to Ali.
b. Max has violated the VSC because he is using confidential information to engage in a financial transaction to further his own or another’s personal interest.
c. Max is doing Ali a favor by using her personal information to secure business for his wife.
d. Information a taxpayer provides at a VITA/TCE site can be used for the volun-teer’s personal gain
Business
1 answer:
solmaris [256]3 years ago
3 0
Ion know and I wish I did good luck lol
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Alex Company rents space to a tenant for $2,200, per month. The tenant currently owes two months rent, November and December. Th
kaheart [24]

Answer:

The correct answer is D

Explanation:

The journal entry which is to be posted on December 31, is as:

Rent receivable A/c............................Dr   $4,400

        Rent Earned A/c...............................Cr    $4,400

As the two months rent is not paid so the adjusting entry which is to be posted is that the rent receivable account is debited whereas the rent earned account is credited with the amount of two months rent. (which is $2,200 + $2,200 = $4,400).

5 0
3 years ago
Firefly Inc. sold land for $225,000 cash. The land has been purchased five years earlier for $275,000. The loss on the sale was
mel-nik [20]

Answer:

Cash inflow of $225,000

Explanation:

Land is a non-current asset and the proceeds from sale of non-current assets form part of<em> investing activities</em>. Firefly Inc. has a cash inflow of $225,000 from the sale of land. So the cash received from sale of land will be added to cash flow from investing activities in the head: <em>Purchase or Sale of an Asset. </em>

5 0
3 years ago
A client with terminal cancer is admitted to a palliative care unit. Which specialized health-care professional is involved in p
harkovskaia [24]

Answer: Oncologist

Explanation: An oncologist is a doctor that has specialized his skills in cancer treatment. Oncology has three major branches in it medical, surgical and radiation.

An oncologist also specializes in diseases like anemia, hemophilia, sickle cell disease, lymphoma and leukemia.

Hence, the correct answer to the given problem is oncologist.

6 0
3 years ago
Salvatore and Annette are sales managers for Acme USA. Both work full-time in the Acme offices under the same manager, and share
Bogdan [553]

Answer:

The correct answer is the option B: Acme willfully misclassified Annette as an independet contractor and is liable under Fair Labor Standards Act of 1938.

Explanation:

First of all, an <em>independet contractor</em> is the name that a person receives when provides goods or services under a written contract however they do not work regularly for an employer but work as required.

Secondly, the <em>Fair Labor Standards Act of 1938</em> is a United States Labor Law that creates certain standards that must be accomplished by the employers regarding topics like a minimum wage, ''time-and-a-half'' overtime pay and many others. The basic of this act is to establish standards and protect particular situations regarding the less benefited employees.

Finally, in the case of Acme, where Annette was hired as a independent contractor the company willfully misclassified her due to the fact that she has the same duties and hours of job as Salvatore therefore the company is liable under the Fair Labor Standards Act of 1938 to give her the same salary and health insurance.

5 0
4 years ago
The balance in the prepaid insurance account, before adjustment at the end of the year, is $27,000. Journalize the adjusting ent
Anarel [89]

Answer:

a. The adjusting entry:

Debit Insurance expense $20,250

Credit Prepaid insurance $20,250

b. The adjusting entry:

Debit Insurance expense $20,250

Credit Prepaid insurance $20,250

Explanation:

Before adjustment at the end of the year, the balance in the prepaid insurance account is $27,000

a. The amount of insurance expired during the year is $20,250. The adjusting entry:

Debit Insurance expense $20,250

Credit Prepaid insurance $20,250

b. The amount of unexpired insurance applicable to future periods is $6,750. The amount of insurance expired during the year = $27,000 - $6,750 = $20,250

The adjusting entry:

Debit Insurance expense $20,250

Credit Prepaid insurance $20,250

8 0
3 years ago
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