Buying on margin is basically borrowing money from your broker that you don't necessarily have at the time to buy additional shares. You must have a margin account, which is separate from your cash account. Usually you are able to borrow up to 50% of the new stock price.
Answer:
The correct answer is B. $579.62.
Explanation:
Given that Amy earns an annual salary of $ 68,500 and is paid bi-weekly, and she is in the 22% Federal Income Tax Bracket and lives in a state with a 4.5% State Income Tax, to determine how much in Federal Income Tax is Amy paying per paycheck, the following calculation must be performed:
Every year has 52 weeks, that is, 26 bi-weeks (56/2).
(68,500 / 26) x 0.22 = X
2,634.61 x 0.22 = X
579.6153 = X
Thus, Amy is paying $ 579.62 in Federal Income Tax per paycheck.
Answer: A. Wages or rent
Explanation: A business partnership is an association of two or more people to conduct a business. The partners pool their funds and also partake in profits or losses that might result in running the business. The contract of a partnership that states that one exist could be express or implied, written or oral.
Generally, the receipt of profits from a business is evidence of a partnership. However, when it is repayment of a debt, wages, rent, or an annuity that is received as a share of profit, such transactions do not lead to a legal inference that a partnership exists since they are considered “protected relationships”. Therefore, evidence of sharing profits is prima facie evidence of partnership existence unless the profits are wages or rent.
