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Tomtit [17]
3 years ago
9

According to a 2002 article in USA Today that was discussed in chapter 5, a researcher has found that 11 of the 15 largest compa

nies have at least two board members who sit together on another board. This is referred to as_____________
Business
1 answer:
lawyer [7]3 years ago
5 0

Answer:

interlocking directorates

Explanation:

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Star Corp., a publicly traded, accrual-method C corp., incurred the following expenses in 2020 (all of which are ordinary and ne
Shtirlitz [24]

Answer:

Star Corp.

Star Corp.'s total deductible business expenses for the year is:

= $1,952,000.

Explanation:

Ordinary and Necessary Expenses incurred in 2020:

Office rent:                                 $50,000

CEO compensation:              $1,500,000

Salary paid to janitor:              $250,000

Business meals:                        $30,000 (100% of the amount paid)

Client entertainment:             $100,000 (100% of the amount paid)

Political contribution/lobbying:  $5,000

Advertising:                              $70,000

Taxes & licenses (state, local &

payroll tax; not fed. inc. tax):   $30,000

Life insurance policy on CEO

- premiums:                            $12,000

Federal income taxes:        $250,000

Total expenses incurred $2,297,000

Total Deductible Business Expenses for the year:

Office rent:                                     $50,000

CEO compensation:                 $1,500,000

Salary paid to janitor:                    $20,000

Business meals:                            $15,000 (50% of $30,000)

Client entertainment:                            $0 (0% of $100,000)

Political contribution/lobbying:      $5,000

Advertising:                                  $70,000

Taxes & licenses (state, local &

payroll tax; not fed. inc. tax):       $30,000

Life insurance policy on CEO

- premiums:                                $12,000

Federal income taxes:            $250,000

Total deductible expense = $1,952,000

5 0
3 years ago
Which of the following is a false statement?
astraxan [27]

D) All states have a flat state tax.

8 0
2 years ago
Real GDP per capita is NOT an adequate measure of
mrs_skeptik [129]

Answer:

The correct answer is the well-being of each person in an economy.

Explanation:

Also known as the "Standard of living", this is something that cannot be reflected from the per capital income, whether it's nominal or real. The reason is when you divide the GDP from the population, the assumption is all the GDP is distributed among the population equally.

But this is not the case in the real world and there are many variances, discrimination, discrepancies and inequalities when the wealth and resources are distributed.

5 0
3 years ago
A retail store credited the sales revenue account for the sales price and the amount of sales tax on sales. if the sales tax rat
alexira [117]
We have to calculate the amount of the sales taxes owed to a taxing agency.
The tax rate is 5% ( 0.05 ) and the balance in the sales revenue account amounted to $294,000.
$294,000 * 0.05 = $14,700
Answer:
Amount of the sales taxes is B ) $14,700.
8 0
3 years ago
Tolton, Inc. is just shy of hitting its operating income target. The manager, K.T. Tolton, decides to purchase inferior material
mario62 [17]

Answer:

Net income increase - $4,890

Explanation:

The computation of the effect on net income is shown below:

= Number of pounds of inferior product × (standard price for the materials - inferior product price per pound)

= 3,000 pounds × ($13 - $11.37)

= 3,000 pounds × $1.63

= $4,890 increase

For determining the effect we took the difference of the prices and then multiply it with the number of pounds of the inferior product

6 0
3 years ago
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