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oksano4ka [1.4K]
3 years ago
13

Susan is a partner of Andrusian Consulting, a consulting partnership. Susan agrees with Mimms Company that Andrusian will provid

e management consulting services for $75,000 to Mimms, if Mimms agrees to pay Susan $5,000 personally. What fiduciary duty will Susan breach, if Mimms pays her $5,000?
Business
1 answer:
solmaris [256]3 years ago
8 0

Answer: duty not to profit secretly

Explanation: Fiduciary duty could be explained as a legal binding or obligation on an individual, partner or employee who is expected to act in the best interest of another. Fiduciary duty requires transparency and honesty which in most cases is usually attached to financial openness in transactions between clients and service providers. Fiduciary obligation requires that the representative or partner of the service provider deals transparently with the client especially in the best interest of other partners or organization.

If Susan agrees to take Mimms payment, duty not to make secret profit will be breached as the payment is without the consent of Andrusian consulting

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The trial balance of Woods Company includes the following balance sheet accounts. Identify the accounts that might require adjus
White raven [17]

Answer:

Woods Company

Accounts Requiring Adjustment, Type of Adjusting Entry, and the Related Account:

 Account                         Type of Adjustment           Related Account

a) Account receivable  Accrued revenue              Service revenue

b) Prepaid insurance  Prepaid expense              Insurance expense

c) Equipment                   Not required                      Not required  

d) Accumulated depreciation Accrued expense       Depreciation expense

e) Notes Payable             Not required                      Not required

f) Interest Payable          Accrued expense              Interest expense

g) Unearned service revenue Unearned revenue Service revenue

Explanation:

End of period adjustments are made to accounts in order to bring them in line with the accrual concept and matching principle of accounting.  These principles require that expenses and revenues for the period are matched in order to determine the appropriate profit generated for the period.  The implication is that transactions are recorded when they are incurred and not when cash is exchanged.  For example, if rent expense is incurred for the year and payment is made in the following year, the expense must be recognized in the current year.  The same applies to revenue.

4 0
3 years ago
Compute the current output of the economy. round your answer to at least three decimal places. do not include commas, dollar sig
Molodets [167]

Current output Y = AK^(alfal)L^(1- alfa)

Here A = 100

K= 50,000

L = 100

a ( Alfa) =o.33

Y= 100*(50,000)^0.33*(100)^0.66= 5642.296

Calculus. The analysis is the most common type of mathematics in economics. Calculus uses a variety of formulas to measure limits, functions, and derivatives. Many economists use calculus in measuring economic information.

Mathematics and Economics are complementary fields. Most areas of modern economics make extensive use of mathematics and statistics, and several important areas of mathematical research have been motivated by economic problems.

No. Economics Mathematics is not difficult. Economics is not a particularly difficult undergraduate subject. ...but the most prepared economics majors choose to take mathematics courses at roughly the same level as mathematics majors, and many even choose to double major.

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brainly.com/question/25759088

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8 0
2 years ago
If a government accumulates chronic budget deficits over time, what's one possible result?
Nana76 [90]
I’d say the answer is D
6 0
3 years ago
Question 4 of 10
klasskru [66]

Answer: a I think

Explanation:

5 0
3 years ago
yeloe corporation sells 400 shares of common stock being held as an investment. The shares were acquired six months ago at a cos
Keith_Richards [23]

Answer:

Entry is given below

Explanation:

Bought shares 6 months ago = 400shares x $60/share

Bought shares 6 months ago = $24,000

Sold shares = 400shares x $40/share

Sold shares = $16,000

Loss on sales proceeds  = $24,000 - $16,000

Loss on sales proceeds = $8,000

Entry:

                                      DEBIT        CREDIT

Cash                              $16,000

Loss on sale                  $8,000

Shares                                               $24,000

8 0
3 years ago
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