1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
blsea [12.9K]
3 years ago
9

Joe and Mike have been friends since college and both work in the financial industry. The two work for two un-affiliated broker/

dealers and Mike calls Joe to let him know that he may not meet his quota for sales unless he gets some new customers. If he fails to meet his quota, he will lose his job. Joe has done very well and sends some of his clients over to Mike in an attempt to help Mike out. Mike agrees to split all commissions on sales from these clients, since Joe has done him a favor. Which of the following most accurately describes how the NASAA might classify this type of arrangement?
A. Because Joe and Mike work for un-affiliated broker/dealers, they are not permitted to share or split commissions, making this arrangement un-acceptable.
B. As long as Mike makes the appropriate dis-closures to these new clients with regard to the splitting of commissions with Joe, the arrangement is acceptable.
C. Because splitting of commissions is never permitted under any circumstances, this arrangement is un-acceptable.
D. As long as Mike discloses the arrangement to his firm, the arrangement is acceptable.
Business
1 answer:
castortr0y [4]3 years ago
5 0

Answer:

A) Because Joe and Mike work for un-affiliated broker/dealers, they are not permitted to share or split commissions, making this arrangement un-acceptable.

Explanation:

Even though Joe and Mike are friends and know each other for a long time, in the real world where money has an almost divine status, they must follow the rules. Commissions can only be split between agents that work for the same broker-dealer firm and are registered to work in the same state.

Since Joe and Mike work for unaffiliated broker-dealers, they cannot share clients or split commissions. Following the rules will not only help them professionally, but probably will help their friendship.

You might be interested in
An export subsidy is a. a fee that is charged to a country that ships goods to the U.S. b. a limit on the quantity of a good or
aleksandrvk [35]

Answer:

c. a payment to a firm or individual that ships a good abroad

Explanation:

Export subsidy is a payment to a firm or individual that ships a good abroad. The aim of export subsidy is to encourage export. Thus, it increases the amount of goods and services that can be sold abroad.

I hope my answer helps you

8 0
3 years ago
Read 2 more answers
What happens to the equilibrium price when supply goes down? A. The price goes up. B. The price goes down. C. The price stays th
Nady [450]
When supply goes down, the equilibrium price goes up. This is because if there is a smaller supply the good becomes more valuable to people who want the good.
4 0
3 years ago
Folio Company estimates total manufacturing overhead costs to be $80,000 for the year and estimates direct labor hours to be 4,0
gregori [183]

Answer:

Allocated Overhead= $76,000

Explanation:

Giving the following information:

Estimated overhead for the period= $80,000

Estimated direct labor hours= 4,000 for the same period

Actual direct labor hours for the period are 3,800.

<u>First, we need to calculate the estimated overhead rate. Then, we can determine the amount of overhead allocated to work in process for the period.</u>

To calculate the estimated manufacturing overhead rate we need to use the following formula:

Estimated manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Estimated manufacturing overhead rate= 80,000/4,000= $20 per direct labor hour

Now, we can allocate overhead:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Allocated MOH= 20*3,800= $76,000

8 0
3 years ago
Short Corporation acquired Hathaway, Inc., for $52,000,000. The fair value of all Hathaway's identifiable tangible and intangibl
Neporo4naja [7]

Answer:

correct option is a $0

Explanation:

given data

Acquisition value = $52,000,000

Fair value assets = $48,000,000

to find out

What is the annual amortization of goodwill for this acquisition

solution

we know that annual amortization of goodwill on a straight line basis over 40 years before 2001

and  FASB also issue statement about that it does not allow automatic amortization of goodwill

so it will be zero here as goodwill is not amortized here

so correct option is correct option is a $0

4 0
2 years ago
Unscheduled absenteeism has climbed to its highest levels in XYZ Company last month. Inorder to reduce the costs associated with
____ [38]

Answer:

A) integrated paid time off

Explanation:

Integrated paid time off (PTO) is a policy employed by many organizations where all paid time off benefits are combined into one, equaling a total of the paid days off for holidays, vacation, sick leave, and personal days the employee would have received in a separate paid time off system.

3 0
3 years ago
Other questions:
  • Which method for calculating a credit card balance does not take into account the purchases or the payments made during the curr
    5·2 answers
  • In the context of dollar-value LIFO, what is a LIFO layer?
    9·1 answer
  • You have 2500 square feet for selling space. You want to reserve at least 125 square feet for each product category you will car
    13·1 answer
  • The unit of measure assumption states that:
    14·1 answer
  • Find the price of a corporate bond maturing in 5 years that has a 5% coupon (annual payments), a $1,000 face value, and an AA ra
    9·2 answers
  • Economists refer to a budget deficit that exists when the economy is achieving full employment as a:cyclically adjusted deficit.
    10·1 answer
  • Achieving greater penetration of the market is typically a business goal during the ____ stage of the product life cycle.
    7·1 answer
  • Do you think chefs give much thought to the nutritional value of the dishes they create? Explain
    15·2 answers
  • Assets Liabilities
    7·1 answer
  • The following is a list of account titles and amounts (dollars in millions) from a recent annual report of Hasbro, Inc., a leadi
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!