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Oliga [24]
3 years ago
13

Suppose that the equilibrium wage for teachers in Michigan is $15/hour. Also suppose that Michigan raises its minimum wage to $1

6/hour. Because the equilibrium wage for teachers is (a) lower than or higher than the new minimum wage, we would expect the number of teachers employed to (b) increase, decrease, or stay the same at the new minimum wage. There will be (c) a shortage, a surplus, or no change in the number of teachers.
Business
1 answer:
Iteru [2.4K]3 years ago
4 0

Answer:

a. Lower b. Decrease c. Surplus

Explanation:

The equilibrium wage rate is $15.

The minimum wage is fixed at $16.

a. The equilibrium wage is lower than minimum wage.

b. The higher minimum wage will lead to reduction in the number of teachers employed as the cost of hiring goes up.

c. There will be a surplus in the number of teachers, as with increased wages, the supply of teachers will be higher than demand.

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Four brokerage firms operate in the same small city as Jackson’s firm. All the firms charge approximately the same listing commi
miskamm [114]

Answer:

<em>Yes, this is antitrust violation. Because, the tend to restrain trade in that small city thereby denying other small player brokerage firms from making a living due to their monopolistic actions among themselves.</em>

Explanation:

Antitrust laws are designed in-order to prohibit a number of business practices that restrain trade. Examples of illegal practices are price-fixing conspiracies, corporate mergers that are likely to cut back the competitive fervor of certain markets, and predatory acts designed to gain or hold on to monopoly power.

<em>Violations of such laws attract sanctions and punishment from the regulatory body in-charge of protecting such.</em>

8 0
3 years ago
Which of the following is a condition necessary to exclude an obligation from current liabilities? Entry field with incorrect an
lutik1710 [3]

Answer:

The answer is: Obligation that has a distant due date exceeding company's operating cycle.  

Explanation:

A current liability is a financial obligation due within one year (or one normal operation cycle).

So a financial obligation that has a due date that exceeds a company´s operating cycle should have been directly classified as a long term liability (or a non current liability) in the first place. It simply is not a current liability that is changed into a long term liability, it always was a long term liability.

The other options represent the steps necessary for turning a current liability into a long term liability.

  1. Intend to refinance the obligation on a long-term basis.
  2. Demonstrate the ability to complete the refinancing.
  3. Subsequently refinance the obligation on a long-term basis.

7 0
3 years ago
A company received an order from a customer in June
asambeis [7]

Answer:

b. July

Explanation:

According to the revenue recognition principle, the revenue has to be recognised in the period the services are provided.

In the question, the services were provided in July, so the revenue needs to be recognised in July,

The fact that the order was received in June or that the payment from the customer was received in August is not relevant for purposes of revenue recognition.

8 0
3 years ago
Bridget has an investment portfolio that includes an equity REIT. Which of these is most likely to be part of the REIT’s investm
IgorLugansk [536]

Answer:

The description including its question throughout the discussion is summarized throughout the explanatory section below.

Explanation:

  • Equity REITs put more money throughout income-producing or employment assets or something like a general merchandise department center.
  • Agricultural land also seems to be unlikely to produce tax revenue, as well as equity REITs, are unlikely to be successful throughout mortgage debt. That seems to be the responsibility including its REITs.
5 0
3 years ago
A disadvantage of the corporate form of organization is that corporate stockholders are more exposed to personal liabilities in
zysi [14]

Answer:

The correct answer is False.

Explanation:

The main advantages are the following:

Limits of Liability

The main advantage of a corporate form of business is that a corporation is an independent entity, which means that you are not personally responsible for the assets and debts of the company. The incorporation protects your personal assets from lawsuits, debt collection and other business matters that may arise.

Tax treatment

The independent entity also separates tax obligations, which is another advantage. This means that the corporation's taxes are separate from your personal tax obligations. As a business owner, you are responsible for paying taxes only on the money that the company pays to you in the form of a salary, commission or dividends, this is as for your personal tax return. The company is responsible for paying corporate taxes (at the corporate tax rate) on any profit the company makes.

Eternal

Another advantage of a corporate corporate form is that it does not die when its owners do. Because a corporation is its own entity, it lives even after the shareholders (owners) decide to move forward or dissolve the company or if the company merges with another company. It is easier to sell or merge a company, since it is a matter of changing shareholders rather than having to establish a completely new business.

Costs

One of the main disadvantages of a corporation is the costs for operating a corporate form of the company. It costs money to incorporate in the state in which the company operates. You can choose to hire a lawyer or accountant to help you complete the incorporation paperwork, but it is not a requirement. If you incorporate directly with the Secretary of State, as of 2010, the rate ranges from US $ 99 to US $ 150. Beyond the initial incorporation fees, the corporate form of the company also has current rates associated with it. A fee for an annual report can cost up to US $ 150 per year for each year that the corporation exists after the initial submission of incorporation.

Double taxation

For C corporations, the company ends up paying taxes twice. First, when corporation C makes a profit, it pays a corporate tax in the amount of benefits. The second time that corporation C pays taxes is when it distributes dividends to shareholders. Many companies that join choose to do so as an S corporation instead in order to avoid double taxation. The only difference between a C corporation and an S corporation is a tax designation filed with the IRS using Form 2553. According to the IRS, an S corporation can choose to spend the rent, losses, deductions and credits for the corporation through the Corporation shareholders for federal tax purposes. This avoids the possibility of double taxation to which a C corporation is subject.

Documentation

Corporations need to keep more records than other business entities. Companies must submit annual reports and tax returns and maintain business bank accounts and records that are independent of personal accounts. Records of shareholder meetings, board of minutes of the director's sessions, licenses and other corporate documents are also required.

6 0
3 years ago
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