Joe is a new broker. He will be required to reconcile his escrow account monthly.
<h3>
Who is a broker?</h3>
- In order to earn a commission after the trade is completed, brokers organize transactions between buyers and sellers.
- Brokers that take on dual roles as buyers or sellers are considered primary parties to the transaction.
- Neither function should be mistaken with that of an agent, who represents the principal party in a transaction.
- An impartial party whose services are often used in several businesses is a broker.
- The main duty of a broker is to connect buyers and sellers; as a result, the broker acts as a neutral intermediary between a buyer and a seller.
- A real estate or stockbroker who helps in the sale of a property would be an example.
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Answer:
The correct answers are "collection of individuals
" and "pay no income tax".
Explanation:
A partnership itself does not pay income taxes directly. The partnership files an information return that allows it not to pay the income directly. However, while the partnership itself is not taxed on its income, each partner is taxed on his or her share of the partnership's income.
Have a nice day!
Answer:
RFID tags are a type of tracking system that uses radio frequency to search, identify, track, and communicate with items and people. Essentially, RFID tags are smart labels that can store a range of information from serial numbers, to a short description, and even pages of data.
Answer:
$16 and $28,400
Explanation:
The computation of the fixed cost and the variable cost per unit by using high low method is shown below:
Variable cost per unit = (High total cost - low total cost) ÷ (High units - low units)
= ($84,400 - $46,000) ÷ (3,500 desks - 1,100 desks)
= $38,400 ÷ 2,400 desks
= $16
Now the fixed cost equal to
= High total cost - (High units × Variable cost per units)
= $84.400 - (3,500 desks × $16))
= $84,400 - $56,000
= $28,400
