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3 years ago

A broker, acting as the agent of a seller, must deal honestly and fairly with whom? Group of answer choices

Business

1 answer:

Doss [256]3 years ago

8 0

Answer:

Everyone involved in the transaction

Explanation:

As an agent of the seller, the broker has a fiduciary duty with the seller (principal) to act of behalf of his/her best interest.

But the broker must also act honestly with the buyer, if the broker closes a deal using dishonest or unfair practices, e.g. forging documents, then the buyer might claim damages from both the broker and the seller.

And of course the broker should also make sure that his/her own rights are respected and his/her work is properly paid.

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Arntson, Inc., manufactures and sells two products: Product R3 and Product N0. The annual production and sales of Product of R3

Tcecarenko [31]

Answer:

$695.24 per unit

Explanation:

Calculation to determine what The unit product cost of Product R3 under activity-based costing is closest to

First step is to Calculate Activity rates

Activity Cost Pool Activity driver Overhead Cost (A) Expected Activity (B) Activity rate (A/B)

Labor related Number of DLH $ 40,636÷13,000 = 3.13 Per DLH

Production orders Number of Order 65,880÷ 1,600= 41.18 Per Order

Order size Number of MH 433,075÷ 7,600 = 56.98 Per MH

Second step is to calculate the Cost assigned to Product R3

Cost assigned to Product R3

Activity name Activity Rates Activity ABC Cost

(A) (B) (A x B)

Labor related 3.13 * 11,000 =$34,430

Production orders 41.18* 1,200=$49,416

Order size 56.98*3,900= $222,222

Total Overheads assigned $306,068

($34,430+$49,416+$222,222)

Production 1,100

Overhead cost per unit $278.24

Product R3

Direct material $211

Direct labor (10x $20.60 per DLH) $206

Overheads $278.24

Total Cost per unit $695.24

($211+$206+$278.24)

Therefore The unit product cost of Product R3 under activity-based costing is closest to $695.24 per unit

3 0

2 years ago

What is accounting

andre [41]

Answer:

Accounting is the process of recording financial transactions pertaining to a business. The accounting process includes summarizing, analyzing, and reporting these transactions to oversight agencies, regulators, and tax collection entities. The financial statements used in accounting are a concise summary of financial transactions over an accounting period, summarizing a company's operations, financial position, and cash flows. Accounting is the recording of financial transactions along with storing, sorting, retrieving, summarizing, and presenting the results in various reports and analyses. Accounting is also a field of study and profession dedicated to carrying out those tasks.

Explanation:

4 0

3 years ago

Which of the following statements is false about the order in which management determines the sequencing of support department a

GaryK [48]

Answer: A. Departments with more employees are allocated earlier.

Explanation:

In the sequential method, it should be noted that a company allocates the service costs one department at a time. Once the service department cost is allocated by the accountants, the department won't get any other costs from the other service departments.

The statement that is false about the order in which management determines the sequencing of support department allocations under the sequential method of allocating support department costs to production departments is that the departments with more employees are allocated earlier.

Under the sequential method, the department costs that are allocated earlier include having an accurate cost drivers, having a higher cost, or having a large number of support.

4 0

2 years ago

Bernice is an underwriter. she is reviewing a commercial crime coverage application. the coverage will be written using the disc

Mnenie [13.5K]

Answer:

A retroactive date endorsement

Explanation:

In Insurance, a retroactive date endorsement is used for most claims-made policy forms.

For a claims-made policies, the date which a professional liability coverage begins, covering for any incident that causes damage or harm to a third party on or after the date it occurred, provided the claims relating to it were filed with an active liability insurance coverage, is known as the retroactive date endorsement.

Hence, Bernice should add a retroactive date endorsement to the policy to protect the insurer against liability for such previous losses.

7 0

3 years ago

Read 2 more answers

Under the modified accrual basis of accounting used by the General Fund, financial resources are considered available if the rev

patriot [66]

Answer:

D. During the current fiscal period or a reasonable time after year-end defined by each individual government.

Explanation:

Modified accrual basis makes use of the accrual and cash basis of accounting.

It is used to monitor flow of funds in government finance books.

The resource recognition is done as defined by the government within the fiscal year or after.

Estimation of cash flow is done as soon as funds is available to fund government expenditure.

6 0

3 years ago