Individuals performing in professional jobs are compensated initially for their _______

For each of the following, state whether the events created are mutually exclusive and whether they are collectively exhaustive.

8_murik_8 [283]

Answer:

Explanation:

- mutually exclusive (ME): If one event occur the other doesn't

- collectively exhaustive (CE): one of the events must occur

a. Undergraduate business students were asked whether they were sophomores or juniors: ME

b. Each respondent was classified by the type of car he or she drives: sedan, SUV, American, European, Asian, or none. ME - CE

c. people were asked, "Do you currently live in (i) an apartment or (ii) a house?": ME

d. A product was classified as defective or not defective: ME - CE

7 0

3 years ago

In 2010, the MoreForLess Company had revenues of $2,000,000 while costs were $1,500,000. In 2011, MoreForLess will be introducin

Harlamova29_29 [7]

Answer:

Differential profit Profit = $40,000

Explanation:

<em>The differential operating profit is the difference between the operating profit before the introduction of the product and after the introduction of the new product</em>

<em>Profit = Revenue - costs</em>

Profit before the introduction of the new product

= 2,000,000 - 1,500,000 = 500,000

Profit after the introduction of the new product

New revenue = (2,000,000 + 200,000) = 2,200,000

Cumulative cost = 1,500,000 + 160,000 = 1,660,000

Profit = 2,200,000 - 1,660,000 = 540000

Differential profit Profit = 540,000 - 500,000= $40,000

4 0

3 years ago

Indicate where each item should be presented in the statement of cash flows (indirect method) using these four major classificat

saw5 [17]

Answer:

a. Payment of interest on notes payable - Operating Activity

b. Exchange of land for patent - Non Cash investing activity

c. Sale of building at book value - Investing Activity

d. Payment of dividends - Financing Activity

e. Depreciation - Operating Activity

f. Receipt of interest on notes receivable - Operating Activity

g. Issuance of Capital Stock - Financing Activity

h. Amortization of patent - Operating Activity

i. Issuance of bonds for land - Non Cash investing activity

j. Purchase of land - Investing Activity

3 0

3 years ago

Grand River Corporation reported taxable income of $600,000 in year 1 and paid federal income taxes of $155,000. Not included in

Paul [167]

Answer:

$444,000

Explanation:

current earnings and profits = (taxable income - income taxes) - meals expense + tax exempt income = ($600,000 - $155,000) - $3,000 + $2,000 = $444,000

Disallowed expenses are expenses made by an individual or company that the IRS doesn't allow to be deducted, e.g. meals. Tax exempt income is income that is not taxed by the IRS, e.g. DRD includes at least 70% of dividends received.

Deferred gains or unearned revenues are considered a liability and are not included in the income statement.

7 0

3 years ago

I need to solve this question with a formal

asambeis [7]

Answer:

yes

Explanation:

he's been said to do with this was also like

3 0

3 years ago

Individuals performing in professional jobs are compensated initially for their ________.