Answer:
A) Recession
Explanation:
Recession is a term in economics that refers to a situation where there is decline in economic growth. Specifically a recession is said to have occurred if for two or more consecutive quarters a negative economic growth is observed meaning that there is a decline in the gross domestic product (GDP). The implication of recession is that companies have less cash and revenue, so they will seek to reduce cost by cutting down on wages and employment which will generally lead to reduced output, income and jobs. Recessions are usually triggered by financial crises in an economy and government usually tackles it by spending more and reducing the cost of taxes
Answer:
Pattison Corporation
Activity Variance for "Travel expenses" for May would have been closest to:
$1,500 Favorable
Explanation:
Data and Calculations:
Fixed Element Variable Element per
per Month Customer Served
Revenue $5,500
Employee salaries
and wages $46,300 $1,000
Travel expenses $ 500
Other expenses $32,500
The Travel Expenses Activity Variance = Actual cost minus budgeted cost
= $8,500 - $10,000
= $1,500 Favorable
Actual travel expenses = ($500 x 17)
= $8,500
Budgeted travel expenses = ($500 x 20)
= $10,000
Pattison Corporation's activity variance for Travel Expenses for the month of May is the difference between the actual travel expenses and the budgeted travel expenses. The budgeted expenses are based on budgeted number of customers served in May while the actual expenses are based on actual number of customers served in May.
The difference between Flooding treatments and Systematic Desensitization
is that, Flooding is a procedure of behavior therapy established on the ideologies
of respondent conditioning, it is a known psychotherapeutic method to overcome
different phobias, it is a faster method in overcoming fears, than Systematic
Desensitization. Systematic Desensitization is the behavioral treatment, which
combines imagining or experiencing one’s fear or feared object or situation
together with relaxation exercises to overcome these so-called phobias or
fears, but this method is a little slower than Flooding.
Cost recovery deduction = $1520
Solution:
Given data
purchase price = $38,000
used the car business = 80%
used the car personal = 20%
solution
cost recovery limit are,
cost recovery limit = asset value × statutory % × mid quarter convention
We recognize the 5-year MACRS convention of car and the depreciation rate of MACRS is 20 percent in the first year.
so we use MACRS statutory % method
cost recovery limit = $38000 × 5%
cost recovery limit = $1900
we know maximum limit is $3160
so cost of recovery is $1900
so,
cost recovery deduction is
cost recovery deduction = cost recovery limit - personal use
cost recovery deduction = $1900 - ( $1900 × 20% )
cost recovery deduction = $1520
Answer:
This is an example of Sales Skimming fraud.
Explanation:
Let re-visit the concept of Sales Skimming before we apply to the question: Sales skimming is the theft of money received from sales even before it has been recorded by the entity.
As described in the question, Albert has wrongly taken the late fee which should be collected by his company by incorrectly record the paid day of tenants. As a result, the company's system is unable to recognized an late fee they are eligible for receiving. Instead, these amount flows into Albert's pocket.
So, the described situation is an example of Sales Skimming fraud.
