Answer:
True
Explanation:
A contract can be defined as an agreement between two or more parties (group of people) which gives rise to a mutual legal obligation or enforceable by law.
A contractor can be defined as a self employed individual or business entity that provides services or work for another for an agreed fee.
This ultimately implies that, a contractor is a non-employee of the organization he provides services or work for. Some examples of a contractor are consultants, engineers, lawyers, accountants, auditors, doctors etc.
Basically, the government of a country usually employs the services of contractors for the execution of public projects and works.
Hence, both the Government and the contractor have the option of going to court to resolve disputes between them.
Answer:
$ 2,621.28
Explanation:
The simple interest I=P*R*T
P is the principal amount of $11,000
R is the simple interest rate of 6%
T is the number of years the interest relates to
I=$11,000*6%*11=$7260
Compound interest:
FV=PV*(1+r)^n
FV is the amount of the deposit in eleventh year
PV is the amount deposited which is $11,000
r is the rate of return of 6%
n is eleven years
FV=$11000*(1+6%)^11=$ 20,881.28
I=FV-PV= 20,881.28-11,000=$ 9,881.28
Difference between interest earned=$9,881.28-$
7260
=$ 2,621.28
Answer:
What is Swan’s taxable gain on the distribution of the cottage?
Fair market value of property = 200000
Less: adjusted basis of property= 115000(150000-35000)
Taxable gain on distribution = 85000
What is Swan's current E&P after the distribution on 12/31/13?
Swans current E&P = 300000
Add: taxable gain on distribution = 85000
Less: distribution made = 165000(200000-35000)
After distribution E&P = 220000
What is the taxable dividend to the shareholder (if any)?
Taxable dividend to shareholders = 200000-35000 = 165000
What is the shareholder's basis in the cottage?
Shareholders basis is FMV of property i.e. 200000
Answer:
Type C” reorganization
Explanation:
The restructuring qualifies as “Type C” reorganization because minimum 80% of assets of Target are obtained with Acquiring stock. At least 90% of the net assets and 70% of the gross assets are transferred from Target for Acquiring stock of voting. The exchange does not qualifies as a “Type A” as none of the liabilities are assumed by Acquiring. Therefore, the restructuring qualifies as “Type C” reorganization.
Answer: The free enterprise system was certainly necessary for Mary Kay Ash to make an impact on the business world.
Explanation: This is because having no restrictions from the government, Mary Kay could set the price of her products, making them competitive in the market. By selling directly to end consumers, she skipped intermediaries, therefore cut costs and had a great impact on the business world. Another strategy she used is "try before buying", which became a plus for her products, having satisfied costumers become captive consumers, always coming back for more. The Free Enterprise System was absolutely helpful for Mary Kay Cosmetics to have pressence in the world for 56 years now.
