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MArishka [77]
3 years ago
6

The ________ exemption applies to employees compensated on a salary or fee basis that perform work that is predominantly intelle

ctual in character, who possess advanced knowledge in a field of science, and whose advanced knowledge was acquired through a prolonged course of specialized intellectual instruction.
Business
1 answer:
larisa86 [58]3 years ago
7 0

Answer:

Learned professional exemption

Explanation:

The reason is that under the federal minimum wage and overtime pay requirements, the person who has specialist and predominant intellectual work knowledge are exempt from the salary or fee basis because the US government encourages its citizens to learn such unique knowledge. This includes certifications holders for example, auditors, Doctors, etc.

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I need help with economic hw can someone come up with a example for scarcity and choice, opportunities cost
diamong [38]

Scarcity occurs when the demand for something exceeds the supply. Examples often occur with natural resources when they are over used. Think of over fishing, hunting or poor farming. The choice to over hunt in present may cost hunting opportunities in the future.

4 0
3 years ago
For each transaction:
stira [4]

Answer:

Elegant Lawns

a. Analysis of transactions using the accounting equation:

1. May 15, Assets Cash $7,000 Equipment $3,000 Equity: Common stock $10,000

2. May 21, Assets: Office supplies $500 Liabilities: Accounts Payable $500

3. May 25, Assets: Cash $4,000 Equity: Service Revenue $4,000

4. May 30, Assets: Cash $1,000 Equity: Service Revenue $1,000

b. Journal Entries:

Date          Account Titles        Debit        Credit

1. May 15, Assets: Cash         $7,000

Assets: Equipment                $3,000

Equity: Common stock                             $10,000

2.

May 21, Assets: Office supplies $500

Liabilities: Accounts Payable                       $500

3. May 25, Assets: Cash       $4,000

Equity: Service Revenue                          $4,000

4. May 30, Assets: Cash       $1,000

Equity: Service Revenue                          $1,000

c. T-accounts:

Cash

Date          Account Titles        Debit        Credit

1. May 15   Common stock     $7,000

3. May 25, Service revenue    4,000

4. May 30, Service revenue    1,000

Equipment

Date          Account Titles        Debit        Credit

1. May 15   Common stock     $3,000

Office Supplies

Date          Account Titles        Debit        Credit

2. May 21, Accounts Payable $500

Common Stock

Date          Account Titles        Debit        Credit

1. May 15   Cash                                        $7,000

1. May 15   Equipment                                3,000

Accounts Payable

Date          Account Titles        Debit        Credit

2. May 21, Office supplies                         $500

Service Revenue

Date          Account Titles        Debit        Credit

3. May 25, Cash                                       $4,000

4. May 30, Cash                                          1,000

Explanation:

a) Data and Analysis with Accounting Equation:

1. May 15, Assets Cash $7,000 Equipment $3,000 Equity: Common stock $10,000

2. May 21, Assets: Office supplies $500 Liabilities: Accounts Payable $500

3. May 25, Assets: Cash $4,000 Equity: Service Revenue $4,000

4. May 30, Assets: Cash $1,000 Equity: Service Revenue $1,000

8 0
3 years ago
Social surplus is the​ ____________. A. total value from trade in a markettotal value from trade in a market. B. difference betw
shepuryov [24]

Answer:

The correct answer is letter "A": total value from trade in a market.

Explanation:

Canadian economist Alex Tabarrok (born in 1966) explains social surplus as the sum of consumer surplus, producer surplus, and bystanders surplus. Tabarrok takes an integrative approach in consumer surplus by stating <em>social surplus encompasses every economic trade in the market rather than only consumers and producers surplus.</em>

<em />

Besides, Tabarrok believes when there are major external costs or benefits, the market will not reach its social surplus.

4 0
3 years ago
True or false: The transfer of costs from one inventory account to the next parallels the physical transfer of goods from one in
Ket [755]

The transfer of costs from one inventory account to the next parallels the physical transfer of goods from one inventory to the next is true.

<h3>What is an Inventory Account?</h3>

Inventory accounting is part of accounting that involves modifications in values and accounts or price of inventoried assests.

A company's inventory nvolves goods are grouped into three stages of production which are raw goods, in-progress goods, and finished goods that are ready for sale.

Therefore, The transfer of costs from one inventory account to the next parallels the physical transfer of goods from one inventory to the next is true because gross profit will be lower, income tax will be lower and the cost of goods will increase.

Learn more on inventory account from the link below.

brainly.com/question/8192827

7 0
2 years ago
A company produces very unusual CD's for which the variable cost is $ 12 per CD and the fixed costs are $ 30000. They will sell
Aleks04 [339]

Answer:

(1) $30,000 + $12x

(2) $50x

(3) $38x - $30,000

(4) 790 CD's to break even

Explanation:

Given that,

Variable cost = $12 per CD

Fixed cost = $30,000

Selling price = $50 each

Let x be the number of CD's produced,

(1) Total cost function:

C(x) = Fixed cost + Variable cost

      = $30,000 + $12x

(2) Total revenue:

R(x) = Units produced × selling price of each unit

      = $50x

(3) Total profit:

P(x) = R(x) - C(x)

      = $50x - ($30,000 + $12x)

      = $50x - $30,000 - $12x

      = $38x - $30,000

(4) Number of CD's which must be produced to break even:

Total profit = 0

$38x - $30,000 = 0

x = $30,000 ÷ $38

  = 789.47 or 790 CD's to break even.

6 0
3 years ago
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