Complete Question:
An inventory system is a set of policies and controls that monitors levels of inventory and determines what levels should be maintained, when stock should be replenished, and how large orders should be
Answer:
TRUE
Explanation:
The reason is that the inventory system includes the management of the inventory which includes the decision making related to:
How much to purchase?
What to purchase?
When to Purchase?
When to deliver raw materials and receive the finished goods from the production house?
It also involves the control system designed to control the flow of the inventory and policies in place to maintain and manage the inventory.
So the statement is true.
• For the first question, the answer is Letter C. The Gift and estate taxes are called wealth transfer taxes because gift and estate taxes are levied when a transfer of wealth or property takes place and are part of the unified transfer tax system.
• For the second question, the answer is Letter C. The tax base for the gift tax is reasonable market value of all gifts completed in the current year minus an annual donee elimination of $14,000, minus a marital deduction for gifts to spouse and charitable deduction if applicable, plus the value of all taxable gifts in preceding years. The tax base for the estate tax is the gross estate of the decedent, minus deductions for expenditures, and a marital or charitable deduction if applicable, plus taxable gifts made after 1976.
Answer:
$21,000
Explanation:
NOL, Phillis and Trey's taxable income must be adjusted by:
= Standard deduction - (Interest income + Net non business capital gain)
= $24,000 - [$500 + ($4,800 - $2,300)]
= $24,000 - ($500 + $2,500)
= $24,000 - $3,000
= $21,000
Therefore, the NOL, Phillis and Trey's taxable income must be adjusted by $21,000.
Answer:
This is called deflation.
Explanation:
Deflation refers to the situation when there is a decline in the general price level, it causes the economy to slow down. It generally happens because of a reduction in the money supply.
The nominal costs of goods and services, labor, capital, etc. decline. But the relative prices, generally remain the same. '
The decline in price is not good for everyone and adversely affects producers. It is also harmful to borrowers. The decline in the price level increases the purchasing power of money.
<u>Brenda will advise the new employees to avoid interpreting in another's actions until you know the full story</u>
Explanation:
As mentioned in the question that Brenda is a employee orientation trainer for a global corporation and she is asked to address the new recruits and to convey information that will help them in communicating across the culture.
Brenda's advise on dealing with individuals of other culture is that one should not have pre conceived notion about an individual or their culture and in case of a conflict one should not act in a bias manner rather should display the patience of listening to the story from both the ends and then arrive at a conclusion.
so it can be said that <u>Brenda will advise the new employees to avoid interpreting in another's actions until you know the full story</u>
