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anastassius [24]
3 years ago
6

Trust incurred $10,000 of portfolio income. Its corporate trustee paid fiduciary fees of $1,000 therefrom, and also paid $1,000

in premiums for a life insurance policy on Marcia, the grantor of the trust. How much gross income does Marcia include with respect to these trust activities?
A) $800.
B) $1,000.
C) $8,000.
D) $9,000.
E) $10,000.
Business
1 answer:
Dima020 [189]3 years ago
4 0

Answer:

$1,000

Explanation:

Based on the information given the

GROSS INCOME amount that Marcia will include with respect to these trust activities will be the amount of $1,000 because we were told that the amount of $1,000 was paid in premiums for a LIFE INSURANCE POLICY ON MARCIA who is the GRANTOR OF THE TRUST, although The trust is not categorized as a grantor trust reason been that the TRUSTEE was authourized to pay the life insurance premiums

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1. The doctrine of stare decisis requires lower courts to follow established case law in deciding similar cases.
Vitek1552 [10]

Answer

(A) true

Explanation:

Stare decisis is a legal doctrine that obligates courts to follow historical cases when making a ruling on a similar case. Stare decisis requires that cases follow the precedents of other similar cases in similar jurisdictions.

7 0
4 years ago
Hogan Company had the following account balances for 2021: Dec. 31 Jan. 1 Accounts receivable $ 40,500 $ 36,500 Accounts payable
Tasya [4]

Answer:

The amount of net cash provided by operating activities for 2021 reported in the statement of cash flows is $389,500.

Explanation:

Hogan Company

Statement of cash flows (extract)

Net income                                                          $390,000

Add: Increase in Accounts payable                      $13,000

Less: Increase in Accounts receivable                 ($4,000)

Less: Increase in Prepaid insurance                     ($9,500)

Net cash flows from operating activities         $389,500

6 0
4 years ago
Describe the sustainability management practices of a business firm with which you are familiar. Which stage of the corporate en
fomenos

Answer:

Sustainability management practices : More conservation, Less pollution etc

Three stages of corporate economic responsibility : Pollution Prevention, Pollution Stewardship, Clean Technology

Effective Environment Management : Environment policy , personnel , organisation , responsibility & accountability, pollution control, evaluation , awareness etc

Explanation:

Effective Sustainable environment management is an important part of Corporate Social Responsibility. Corporate social responsibility is the responsibility of firms towards societies, as they get all resources & business from them.

There are three stages of corporate environmental responsibility

  • Pollution Prevention : Focuses just on pollutants emissions during production
  • Pollution Stewardship : Focuses on environment impacts of full life cycle of product - production, use, disposal
  • Clean Technology : Focus on inventing new technology, reducing environment ill effects in long run

Key Elements of Effective environmental management [as per US EPA model] are :

Environmental policy organisation & personnel, oversight of EMS; Accountability & responsibility; Environmental requirements; Assessment, prevention & control; Environmental incident & noncompliance investigations; Environmental training, awareness & competence ; Environmental planning & organisational decision-making; Maintenance of records & documentation; Pollution prevention; program evaluation & improvement; Public involvement and community outreach.

Some sustainability management practices of a business firm : Water & Electricity conservation , Harmful chemicals management, less pollutant emissions, better waste management , 3R's - Reduce, Reuse , Recycle

6 0
4 years ago
Consider two goods that are substitutes. A price increase for one good will cause the quantity demanded of that good to_________
slega [8]

Answer:

The correct answer is: decrease; increase; increase; quantity demanded

Explanation:

A substitute of a good is that good which can be used in its place, for instance, tea and coffee.

So when price of a good increases its quantity demanded will decline because of law of demand. The consumers will prefer the cheaper substitute. So more of the substitute good will be demanded.

Now, if two goods are complements it means they are used together, for instance, car and fuel. So when price of a good increases, the consumers are able to afford fewer quantity of the good.

So consumers will purchase less of both the good as well as it's complement.

7 0
4 years ago
A man earned wages of ​$52 comma 800​, received ​$2200 in interest from a savings​ account, and contributed ​$4000 to a​ tax-def
otez555 [7]

Answer:

gross​ income:$55000

adjusted gross​ income: $51000

taxable income: $40180

Explanation:

Given:

  • Wage:  ​$52 comma 800 = $52800
  • Interest received: $2200
  • tax-deferred retirement: $4000
  • Personal exemption : ​$3800  
  • Deductions totaling: $7020

As we know that,

  • Gross income = Wage +  interest received  

= $52800 + $2200

= $55000

  • Adjusted gross​ income = gross​ income - adjustment

= $55000  - $4000

= $51000

  • taxable income = Adjusted gross income - (Exemption + Deductions )

= $51000 - ($3800 + $7020)

= $40180

Hope it will find you well

7 0
3 years ago
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