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Leni [432]
3 years ago
6

A customer wishes to open an account to fund payment of private middle school tuition. If the customer does not wish to deposit

more than $2,000 per year and wishes to get a tax benefit, the best advice is for the customer to open a:
Business
1 answer:
Svetradugi [14.3K]3 years ago
6 0

Answer: Coverdell Education Savings Account (ESA)

Explanation:

A Coverdell Education Savings Account (ESA) is a type of Trust account created by the US Government to help families fund the educational expenses of their members who are aged 18 or below.

This account is not Taxable as the US Government wants to use it as a way to encourage Educational Expenditure.

The account however is limited to a maximum deposit of $2,000 per year per beneficiary and so is perfect for the customer in question.

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Ramirez Company installs a computerized manufacturing machine in its factory at the beginning of the year at a cost of $81,400.
ivann1987 [24]

Answer:

$7,326

Explanation:

Double Decline Balance = 2 x SLDP x SLDBV

where,

SLDP = Straight Line Depreciation Percentage

          = 100 ÷ useful life

          = 100 ÷ 20

          = 5 %

and

SLDBV = Straight Line Percentage Book Value

Year 1

Double Decline Balance = 2 x 5% x $81,400

                                           = $8,140

Year 2

Double Decline Balance = 2 x 5% x ($81,400 - $8,140)

                                           = $7,326

Therefore

The machine's second-year depreciation using the double-declining balance method is $7,326.

4 0
3 years ago
The UCC requires that HDCs take instruments in good faith. This means that: a.the holders must have performed a special oath bef
guapka [62]

Answer: d.the holders must have acted honestly and observed all reasonable commercial standards of fair dealing.

Explanation:

For an instrument to be negotiable, it should be noted that the UCC requires that such instrument have to be signed by the maker or the drawer.

The UCC requires that HDCs take instruments in good faith. This means that the holders must have acted honestly and observed all reasonable commercial standards of fair dealing.

6 0
3 years ago
McMurphy Corporation produces a part that is used in the manufacture of one of its products. The costs associated with the produ
Effectus [21]

Answer:

the correct answer is

A) make the part, as this would save $14 per unit

7 0
3 years ago
I need this done by today
tankabanditka [31]
What is the problem
4 0
3 years ago
The primary responsibility of the board of directors is to __________. Select one: A. oversee the affairs of the organization B.
Paladinen [302]

The primary responsibility of the board of directors is to (D) make daily operational decisions.(The main responsibility of a Board of Director is to make day-to-day management decisions. )

Explanation:

The main responsibility of a Board of Director is to make day-to-day management decisions. The primary purpose of the board of directors is to safeguard the shareholders interest by maintaining detached, impartial oversight on management.

Some of the duties of Board Members are:

  • To develop  the Organization's Mission and Purpose.
  • Another important duty is to Monitor and Manage Financial Resources.
  • To Recruit New Board Members.
  • To Spread positive word of mouth about t the Organization.

So we can Say that The primary responsibility of the board of directors is to (D) make daily operational decisions

4 0
3 years ago
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