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aleksklad [387]
3 years ago
6

A broker has placed his own funds in the trust account along with the funds of several clients. He has written records of all fu

nds in the account. The broker has paid some office expenses out of the account in an amount exceeding his own deposit. The broker is guilty of____________.
Business
1 answer:
Studentka2010 [4]3 years ago
4 0

Answer: Conversion

Explanation:

Guilty of conversion is basically an unlawful act where an individual has exerted over another person's property without the consent of that person. Over here the broker has used funds to pay his office expenses. But that funds were not just his, it was of other people as well. Moreover, the funds he took out was more than the funds he actually contributed into the trust. Meaning he took portions of other people's funds as well as taking it without consent. Therefore, the broker is guilty of conversion.

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The day-to-day living conditions of modern Americans are very different from what they were in the 20th century. While doing res
IRINA_888 [86]

Answer:

B) There has been economic growth in our society.

Explanation:

The American economy has consistently been the largest economy in the world since 1871, while the rest of the economic podium has changed a lot. Currently the Chinese economy is number 2, but just a few years ago the Japanese economy was on second place. The United Kingdom is currently a large economy, but it was number 1 before the US, and then it continued to fall to the sixth place. Argentina was once of the largest economies and richest economies in the world, and now it is a developing nation.

The only constant position (at least until China surpasses the US) during the last 150 years has been the US at number 1.

That doesn't mean that the US economy grew every year and there were no recessions. The largest global recession originated in the US in 1929, the Great Depression. And just a few years back, in 2008 the Great Recession hit the US. The US has suffered from several minor recessions as well.

3 0
4 years ago
If you see a customer is drinking quickly you can do all the following except
tatuchka [14]

let the customer drink it?

7 0
3 years ago
Electrodo Co. purchased land for $55,000 with $20,000 paid in cash and $35,000 in notes payable. What effect does this transacti
Archy [21]

Answer:

(c). Net increase in assets of $35,000 and a net increase in liabilities of $35,000

Explanation:

Accrual basis of accounting attempts to record transactions as and when they arise and not on the basis of  when money is actually received or paid. Once a liability is certain, such a liability is provided for immediately.

The journal entry for purchase of Land partly by cash and partly for issuing a notes payable would be:

Land                                                  Dr. $55,000

     To Cash                                                          $20,000

     To Notes Payable                                           $35,000

(Being land purchased by payment of $20,000 in cash and a note being issued against the balance amount)

Land and cash are assets whereas Notes Payable is a liability.

So, the effect of the above transaction would be:

Net increase of $35,000 ( $ 55,000 - $ 20,000) as debit in fixed assets account increases their balance whereas cash being a real account, the rule being debit what comes in, credit what goes out. So credit in cash account would reduce the cash balance by $ 20,000.

Notes Payable account which is to be paid in future is a liability which shall increase the liabilities by $ 35,000.

So, the correct answer is (c), Net increase in assets of $35,000 and a net increase in liabilities of $35,000.  

5 0
3 years ago
If bonds are issued at a premium, the stated interest rate is a.higher than the market rate of interest b.too low to attract inv
worty [1.4K]

Answer:

a.higher than the market rate of interest

Explanation:

If bonds are issued at a premium, the stated interest rate is <u>higher than the market rate of interest.</u>

- If the company issues the binds at a premium, it means that the company is getting more money than the face value of the bond.

- This happens because the demand for the bind is high in the market.

- The demand is high because the company offers higher interest rate as compared to market interest rate.

- If the bonds are issued at a discount, then the stated interest rate is lower than the market interest rate.

5 0
3 years ago
When a third party bears a cost for a problem they did not cause, it is known as a __________.
alexandr1967 [171]
Negative externality
3 0
3 years ago
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