Answer:
C. Many companies review pay during a performance appraisal.
Explanation:
Performance appraisals are usually ongoing through out the year where as annual reporting is done on it. It allows for better decisions by the management whether if to revise pay scales as per the improved performances of the employees. These appraisals may be used for identify training needs, pay reviews and promotional opportunities for employees.
Hope that helps.
Answer:
$0
Explanation:
As we know that the life insurance proceeds would be recieved by the beneficary on the insured person death is tax free
Since the amount of $12,000 would be received by May Green on her insured father so this amount would be tax free
Therefore the amount that subjected to income tax is $0
Answer:
Net Contribution of the Department $
Contribution margin 24,000
Less: Avoidable fixed cost 55,000
Net contribution (31,000)
The department should be eliminated. The financial advantage of eliminating the department is that it will increase the total profit of the whole company by $31,000
Explanation:
This question relates to deleting a product or segment. The net contribution will be computed by deducting the avoidable fixed cost from the contribution margin. The avoidable fixed cost is total fixed cot minus unavoidable fixed cost. Since the net contribution is negative, it implies that the department should be eliminated.
Answer:
4. Fiscal year
Explanation:
Reporting period refers to the period or time covered by a set of financial statements. It is the accounting period in which a given financial report will be covered. It may either be monthly, quarterly or yearly depending on organization's choice.
Now, fiscal year is an accounting period or reporting period that consist of 12 month used for accounting purposes. It is a yearly reporting period made up of 12 consecutive months. It may or may not correspond to the normal calendar year depending on the organization's choice or decision.
