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nalin [4]
3 years ago
11

Which of the following statements is true of the Age Discrimination in Employment Act?

Business
1 answer:
Nookie1986 [14]3 years ago
7 0

Answer:

The correct option is D: It does not provide protection from reverse discrimination

Explanation:

The Employment Act does not provide protection from reverse discrimination. This means that employers can favor an individual or group who are known to belong to groups that have been subject of discrimination in the past. This is one thing that the Employment Act does not address and thus our answer to the question is D.

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Suppose People's bank offers to lend you $10,000 for 1 year on a loan contract that calls for you to make interest payments of $
Vlad1618 [11]

Answer:

c. 10.38%

Explanation:

Loan Amount = $10,000

Quarterly Interest payment = $250

Interest Payment for the year = $250 x 4

Interest Payment for the year = $1,000

Nominal interest rate = ($1,000 / $10,000) x 100 = 10%

Nominal interest rate = r = 10%

Number of periods = m = 4

Effective Interest rate = [ ( 1 + r/m )^m]-1

Effective Interest rate = [ ( 1 + 0.1/4 )^4] -

Effective Interest rate = [ ( 1 + 0.025 )^4] -1

Effective Interest rate = 10.38%

6 0
3 years ago
As prepaid expenses expire with the passage of time, the correct adjusting entry will be a:
Nonamiya [84]

Answer:

d. debit to an expense account and a credit to an asset account.

Explanation:

When a prepayment is made, the entries recorded are Debit prepaid expense and credit Cash account to recognize the amount prepaid.

As time passes and the expenses are incurred, the entries required are debit expense account and credit prepaid expense (an asset) with the amount of the expense incurred as a result of the passage of time.

4 0
3 years ago
ABC purchases inventory for $2,000 and incurs shipping costs of $100 for the goods to be delivered. To record this transaction,
Rus_ich [418]

Answer: 1. D) Assets are understated

2. D) Car dealers

Explanation:

1. The shipping costs to bring Inventory into a business are known as Carriage Inwards. This amount is to be debited with the Inventory as it is considered to be part of the cost of acquiring the inventory. By not putting this cost with the inventory, ABC is undervaluing the inventory account which is an Asset account. The Assets are therefore understated.

2. The Specific Identification Method of inventory valuation is based on each individual unit purchased or sold. It does not group items and tracks each item from the moment it is purchased to the moment it is sold so the cost of the specific inventory is known. This method is used more often by businesses that deal with easily identifiable items such as Jewellers and Car dealers because each car is big enough to be tracked individually.

6 0
3 years ago
Following are the average accounts receivable and net sales reported recently by two large bever age companies (dollar amounts a
Vlada [557]

Answer:

A)   Accounts receivable turnover ratio = Net credit sales / Average accounts receivable

The following table shows the accounts receivable turnover ratio of MCB and ABI:

Particulars                                                  MCB          ABI

Net sales                                                 $8320     $17400

Average Accounts Receivable                 $720      $900

Accounts Receivable Turnover rate            11.5                19.3

B)  

Day's sale outstanding  = Accounts receivable / Total credit sales  × 365

The following table shows the days sale outstanding of MCB and ABI:

Particulars                                                    MCB             ABI

Net sales                                                    $8,320           $17,400

Average Accounts Receivable                    $720            $900

Day's sale outstanding                               31.58                 18.88

Explanation:

3 0
3 years ago
Carly donated inventory (ordinary income property) to a church. She purchased the inventory last month for $100,000, and on the
MissTica

Answer:

$92,00

Explanation:

Base on the scenario been described in the question which we saw how Carly donated an to the church, when she purchased the gift, it was $100,000 but when she is to present the gift to the church, the fair market value became $92,000 which is her maximum charitable contribution deduction

the charitable deduction for ordinary income property is the lesser of fmv or basis limited to 50% of AGI

8 0
3 years ago
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