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tankabanditka [31]
3 years ago
6

A property owner had a stroke and is unable to take care of himself. He has no heirs so a court placed him in a nursing home and

assigned a local attorney to represent him and take care of his financial affairs. The property owner has no will or any money available for expenses and hasn't paid any property taxes in the past four years. The court has been notified that the property owner's health is not improving, so he will not be leaving the nursing home. What would the state file to eventually collect the unpaid back taxes
Business
1 answer:
julia-pushkina [17]3 years ago
3 0

Answer: Tax lien

Explanation:

Tax lien could be defined as a federal obligation which the government carries out when you fail to pay tax debt. The government accumulates the total tax.

The property owner got exposed as regards tax payment plan which was not paid.

federal tax lien is the government's legal claim against your property when you neglect or fail to pay a tax debt. ..

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Valentin [98]

Answer:

$1,125,000

Explanation:

Given;

Gain from asset disposal = $225,000

Book value of asset disposed = $900,000

Therefore,

Amount of cash received from the sale = $900,000 + $225,000

                                                                  = $1,125,000

This represents an inflow of cash and will be represented by a positive value in the statement of cash flows. The total amount reported in the cash flows from investing activities section of the statement of cash flows is $1,125,000

8 0
3 years ago
TRUE OR FALSE: Take-home pay minus total living expenses equals money available for savings and investment
Alik [6]

Answer:

TRUE

Explanation:

Take-home pay is the gross pay minus all deductions. Deductions include statutory and voluntary deductions. Take home is the money that gets to the employee's bank account.

In most households saving and investment are done after meeting the basic expenses. In other words, people will save or invest after meeting their basic needs. Therefore, take home minus total expenses necessary for life is saving and investment

7 0
3 years ago
If product costs are misclassified as selling costs, the average cost per unit will be understated.a. Trueb. False
gladu [14]

Answer:

Product costs are mostly prime costs (Variable cost). Now lets check where this misclassification occurs.

There are 3 stages of absorption costing.

Stage 1: Allocation

Stage 2: Apportionment

Stage 3: Absorption

Misclassification of product cost of product A occurs at Stage 1.

This means that the share of product cost of A, which is misclassified as selling cost will be equally shared with other products in the stage 2. This sharing of cost will lower the average cost per unit of product A and increase the average  cost per unit of other products. Hence, Its true.

5 0
3 years ago
Throughout​ history, strong leaders have been described by their traits. Trait theories of leadership focus on personal qualit
kotegsom [21]

Answer:

Agreeableness and emotional stability show strong relationships to leadership

Organizations need strong leadership and strong management for optimal effectiveness. We need leaders to challenge the status​ quo, create visions of the​ future, and inspire organizational members to achieve the visions. We also need nonleaders to formulate detailed​ plans, create efficient organizational​ structures, and oversee​ day-to-day operations.

Explanation:

Throughout history, strong leadersâ€â€Buddha, Napoleon, Mao, Churchill, Roosevelt, Reaganâ€â€have been described in terms of their traits. Trait theories of leadership thus focus on personal qualities and characteristics. We recognize leaders like South Africa’s Nelson Mandela, Virgin Group CEO Richard Branson, Apple co-founder Steve Jobs, and American Express chairman Ken Chenault as charismatic, enthusiastic, and courageous. The search for personality, social, physical, or intellectual attributes that differentiate leaders from nonleaders goes back to the earliest stages of leadership research. Early research efforts at isolating leadership traits resulted in a number of dead ends. A review in the late 1960s of 20 different studies identified nearly 80 leadership traits, but only 5 were common to 4 or more of the investigations.3 By the 1990s, after numerous studies and analyses, about the best we could say was that most leaders â€Å"are not like other people,†but the particular traits that characterized them varied a great deal from review to review.4 It was a pretty confusing state of affairs. A breakthrough, of sorts, came when researchers began organizing traits around the Big Five personality framework (see Chapter 5).5 Most of the dozens of traits in various leadership reviews fit under one of the Big Five (ambition and energy are part of extraversion, for instance), giving strong support to traits as predictors of leadership. The personal qualities and characteristics of Richard Branson, chairman of Virgin Group, make him a great leader. Branson is described as fun-loving, sensitive to the needs of others, hard working, innovative, charismatic, enthusiastic, energetic, decisive, and risk taking. These traits helped the British entrepreneur build one of the most recognized and respected brands in the world for products and services in the business areas of travel, entertainment, and lifestyle. Jason Kempin/FilmMagic/Getty Images, Inc. A comprehensive review of the leadership literature, when organized around the Big Five, has found extraversion to be the most important trait of effective leaders6 but more strongly related to leader emergence than to leader effectiveness. Sociable and dominant people are more likely to assert themselves in group situations, but leaders need to make sure they’re not too assertiveâ€â€one study found leaders who scored very high on assertiveness were less effective than those who were moderately high.7 Unlike agreeableness and emotional stability, conscientiousness and openness to experience also showed strong relationships to leadership, though not quite as strong as extraversion. Overall, the trait approach does have something to offer. Leaders who like being around people and are able to assert themselves (extraverted), disciplined and able to keep commitments they make (conscientious), and creative and flexible (open) do have an apparent advantage when it comes to leadership, suggesting good leaders do have key traits in common. One reason is that conscientiousness and extraversion are positively related to leaders’ self-efficacy, which explained most of the variance in subordinates’ ratings of leader performance.8 People are more likely to follow someone who is confident she’s going in the right direction. Another trait that may indicate effective leadership is emotional intelligence (EI), discussed in Chapter 4. Advocates of EI argue that without it, a person can have outstanding training, a highly analytical mind, a compelling vision, and an endless supply of terrific ideas but still not make a great leader. This may be especially true as individuals move up in an organization

3 0
3 years ago
Newham Corporation produces and sells two products. In the most recent month, Product R10L had sales of $22,000 and variable exp
Dmitrij [34]

Answer:

BEP $88,403.85

Explanation:

R10L22,000 - 10,060 = 11,940

X96N 35,000 - 17,000 = 17,700

57,000              29,640

Contribution Mix  total contribution / total sales

29,640/57,000 = 0.52

\frac{Fixed\:Cost}{Contribution \:Margin \:Ratio} = Break\: Even\: Point_{dollars}

45,970/0.52 = $88,403.84

8 0
3 years ago
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