Credit CARD Act
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Protects consumers from unfair credit card billing practices.
Patriot Act
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Prevents, detects, and prosecutes international money laundering
Identity Theft and Assumption Deterrence Act
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Criminalizes identity theft
Dodd-Frank Act
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Educates consumers so that they can protect themselves from unfair practices.
Answer:
"What clothing brands do you usually prefer?"
Explanation:
The retail salesman will infer if the customer likes expensive or cheap brands as this person is trained to know the difference in prices of all the brands that the branch sells.
Answer:
A
Explanation:
Should be A as your savings account will accrue interest and the stock market is volatile.
Answer:
No, the tax treatment will not be same.
All the amounts received by Billy, are during the course of business, and are related to the damages caused to business, and to him personally, and under tax these all amounts are tax free:
Amount received for personal injury of $100,000 is tax free as is related to expense of his personal recovery.
The amount of $50,000 and $15,000 though received from different sources but is for the same purpose of loss of income and destruction caused to business.
Whereas, amber is an employee, she is not the owner and therefore, all of the benefits received from her workplace are taxable.
As the policy was purchased by the employer and therefore, any amount received from such policy by amber will be taxable as a perquisite received from employer.
Answer:
Cost of ending inventory is $3,550
Revised Question:
The given question is incomplete. The complete question is as follows:
A company had the following purchases and sales during its first year of operations:
Purchases Sales
January 10: 6 units at $120
February 20: 5 units at $125
May 15: 9 units at $130
September 12: 8 units at $135
November 10: 13 units at $140
On December 31, there were 26 units remaining in ending inventory. Using the Perpetual FIFO inventory valuation method, what is the cost of the ending inventory? (Assume all sales were made on the last day of the month.)
Explanation:
FIFO (First in First out) inventory system refers to the inventory system in which it is assumes that first purchases are the first sold goods. So for calculating the cost of ending inventory we'll calculate the value of unsold goods.
<em>Calculations:</em>
<h3> Unsold goods Cost of unsold goods</h3><h3> 13 (13 X $140) =$1820</h3><h3> 8 (8 X $135) =$1080</h3><h3><u> 5 (5 X $130) =$650</u></h3><h3>Total unsold goods 26 Total cost of unsold goods =$3,550 </h3>
So the cost of ending inventory is $3,550
