Why is competition ineffective as a conflict resolution strategy?

The Lin household’s annual income is $188000. Based on the U.S. federal tax rates below, what is the average tax rate for the Li

Sedaia [141]

Answer:

24%

Explanation:

For the taxes due on April 2020 (current year taxes):

The Lin household falls under the fourth tax bracket for married individuals filing jointly:

tax rate 24%
Income between $171,051 to $326,600

If no deductions were available, they would owe $188,000 x 24% = $45,120 in taxes.

6 0

3 years ago

Kirkaid Company recorded the following transactions for the just completed month:

Illusion [34]

Answer:

The correct answer is $5,000.

Explanation:

According to the scenario, the given data are as follows:

Total raw material = $118,000

Direct material = $89,000

So, Indirect material = Total raw material - Direct material = $118,000 - $89,000

= $29,000

Total labor = $142,000

Direct labor = $122,000

So, Indirect labor = Total labor - Direct labor = $142,000 - $122,000

= $20,000

Additional actual manufacturing OH = $214,000

Applied manufacturing OH = $268,000

So, we can calculate the underapplied or overapplied overhead for the month by using following formula:

Underapplied or overapplied overhead = Applied manufacturing OH - Actual OH

= $268,000 - ( $29,000 + $20,000 + $214,000)

= $268,000 - $263,000

= $5,000

Hence, the overapplied overhead is $5,000.

6 0

3 years ago

A major drawback of using historical results for judging current performance is that _____. A. past results may be incorrect B.

pychu [463]

Answer:

C. inefficiences may be concealed in the past performance.

Explanation:

A major drawback of using historical results for judging current performance is that inefficiences may be concealed in the past performance.

8 0

3 years ago

Read 2 more answers

7. The business cycle depicts: A. fluctuations in the general price level. B. the phases a business goes through from when it fi

sattari [20]

Answer:

D) short-run fluctuations in output and employment

Explanation:

The business cycle and the economic cycle are basically the same thing. They both refer to the fluctuations (growth and shrinkage) of the gross domestic product. It is usually divided into 4 periods:

Expansion: the economy is growing, GDP is increasing, total economic output increases.
Crisis: economic growth stops, and the GDP starts to fall
Recession: the economy starts to shrink, and the GDP decreases. Total economic output decreases, as well as prices.
Recovery: the economy hits a low point, and then starts to bounce back.

7 0

3 years ago

When two or more people get together for the purpose of circumventing prescribed controls, it is called:______

lina2011 [118]

Answer:

a. Collusion

Explanation:

Collusion can be defined as an illegal, secret and uncompetitive agreement between rivalry parties in attempt to destroy the market equilibrium through actions such as illegal-pricing.

Hence, when two or more people get together for the purpose of circumventing prescribed controls, it is called collusion.

Internal controls can be defined as the policies, set of rules, and procedures implemented or put in place by an organization to protect its assets, boost efficiency, enhance financial accountability, enforce adherence to company policies and prevent fraudulent behaviors among the employees.

The main purpose of internal controls is to guarantee that loss is eliminated as there's an accurate and reliable accounting system.

An internal control involves the timely use of both internal and external sources of auditing or financial reporting and as such enhance the maintenance of accurate and proper financial records which would also improve their operational efficiency.

Hence, internal controls if properly executed helps to increase operational efficiency, protect and safeguard assets, provides accurate financial information, prevents fraudulent or unlawful behaviors, timeliness of financial records and reporting

5 0

2 years ago