Answer:
1. Justin’s employer was downsizing and offered employees an amount equal to one year’s salary if the employee would voluntarily retire.
- the compensation is included in Justin's gross income.
2. Trina contracted a disease and was unable to work for six months. Because of her dire circumstances, her employer paid her one-half of her regular salary while she was away from work.
- the compensation is included in Trina's gross income.
3. Coral Corporation collected $1,000,000 on a key person life insurance policy when its chief executive died. The corporation had paid the premiums on the policy of $77,000, which were not deductible by the corporation.
- the benefits are included in the company's taxable income, but the premiums paid are deductible
4. Juan collected $40,000 on a life insurance policy when his wife, Leona, died in 2020. The insurance policy was provided by Leona’s employer, and the premiums were excluded from Leona’s gross income as group term life insurance. In 2020, Juan also collected the $3,500 accrued salary owed to Leona at the time of her death.
- the life insurance policy proceeds are not taxable, but the accrued salaries are taxed
Answer: (A) Identify issues that need to be addressed
Explanation:
According to the given question, on the basis of the Ethical decision framework the first thing that the Garrett should do is to identifying the main issue or problem and then it is need to be addressed so that we can effectively resolve the given problem timely.
For promoting the alcoholic beverages, Garrett firstly going thought all the Ethical principle and the practices so that it can help him to make the effective decisions for the purpose of promoting and increase the visibility of alcoholic beverages to the customers or users in the local market.
Therefore, Option (A) is correct answer.
Calculation needed to assess the component pieces of the operating section using the direct approach for the amount collected for sales is
Total potential cash - Ending accounts receivable balance.
Cash that is produced by a company's regular operating procedures is known as operating cash flow. Investors place a high value on a company's capacity to continually produce positive cash flows from its ongoing business operations.
The purpose of drawing up a cash flow statement is to see a company's sources and uses of cash over a specified time period.
You should first subtract any receivables that you are aware are unlikely to be collected before calculating cash collections from accounts receivable. This will leave you with your projected collectible accounts receivable.
To learn more about operating cashflow click here :
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Scenario 7-5) Solutions Group managers suggest that clients consider doing a resonance test when designing advertising, because this will help understand target consumers regarding their
a.recognition of the brand.
b.potential purchase of the brand.
c.emotional connection to the brand.
d.attitude changes about the brand
Answer:
Option C is correct
Explanation:
This is used for measuring product experience of consumers on a particular brand. It tests products concept for emotional and functional design attributes such as consumer needs, believability(trust) and differentiation in level of product experience by customers.
Answer: No,the company is not guilty.
Explanation: In the given case, Hines could not be considered guilty of price discrimination as the price charged from different shops was same. The free samples were distributed for the purpose of campaign and the discretion to which shop they want to provide lies completely with the company.
Price discrimination refers to the practice of charging different prices from different customer which the company have definitely not done.
Hence, Hines could not be charged of guilty of price discrimination.
