Answer:
c. II and IV are governmental; I and III are not.
Explanation:
A government agency is usually a permanent organization established by either a state or national government in a federal system. They are established by legislative or executive powers for oversight and administration of specific functions. Examples of government agencies are Food and Drugs Administration (FDA), Consumer Product Safety Commission, Intelligence, Finance and Communications agency.
Non-governmental agency usually referred to as NGOs is a non-profit.
Of the four consumer protection groups listed above, Consumer Product Safety Commission and Food and Drug Administration are governmental; Better Business Bureau and Consumers Union are not.
Answer: (A) Guaranty fund
Explanation:
According to the given question, the Guaranty fund is one of the type of fund that basically helps in paying the various types of unpaid claims.
This type of funds are basically covering the beneficiaries of the insurance organization in which the insurer are basically helps in selling the various types of products and the services in the market.
The guaranty funds is typically used by the administrator for the purpose of protecting the policyholder in the insurance firm.
Therefore, Option (A) is correct answer.
Answer:
a. Partnership XYZ's recognized gain (loss)
- recognized gain = fair market value - basis = $180,000 - $50,000 = $130,000
b. Bob's taxable gain (income)
- Bob's taxable income = $130,000 x 50% = $65,000
c. Bob's basis in the property
- Bob's new basis = $180,00 x 50% = $90,000
d. Bob's basis in the partnership
- Bob's basis in the partnership = $40,000 + $65,000 = $105,000
Answer:
Net Increase in profit is $27,000
Explanation:
* The data was missing in this question, a similar question is attached with the answer, and answer is made accordingly. Please find it.
Sales ( $350,000 x 120% ) = $420,000
- Variable cost ( 40% ) = $168,000
- Traceable fixed cost( 175000+15000) = <u>$190,000</u>
Net Profit = $62,000
Net Increase in Net Income = $62,000 - ( 350,000 - (350,000 x 40%) - 175,000 ) = 27,000
