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3 years ago

Punitive damages are damages imposed on the wrongdoer by the court as punishment for an unintentional tort.

Business

1 answer:

snow_lady [41]3 years ago

5 0

Answer:

False.

Explanation:

Punitive damages are the damages that a defendant pays in addition to actual damages. Punitive damages are awarded by a court when the defendant's behavior is found to be intentional or negligent.

In the cases of tort liability, the court applies punitive damages when defendants motif is proved to be intentional.

Therefore, the given statement is false, as the court impose punitive damages for intentional tort.

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Esquire Comic Book Company had income before tax of $1,700,000 in 2016 before considering the following material items: 1. Esqui

mel-nik [20]

Answer:

Explanation:

Partial income statement

For the Year Ended December 31, 2016

Income from continuing operations $975,000

Discontinued operations gain (loss):

Income from operations of discontinued component $220,000

Income tax expense ($88,000)

Income on discontinued operations $132,000

Net income $1,107,000

Income from operations of discontinued component (including loss on disposal of $420,000) = $220,000

Income from continuing operations:

Income before considering additional items $1,700,000

Decrease in income due to restructuring costs ($75,000)

Before-tax income from continuing operations $1,625,000

Income tax expense (40%) ($650,000)

Income from continuing operations $975,000

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3 years ago

What does this word Otorhinolaryngologist mean?

miv72 [106K]

Answer:

A medical specialty concerned especially with the ear, nose, and throat and related parts of the head and neck : otolaryngology All antihistamines have at least some drying effects, called anticholinergic properties.

Explanation:

8 0

3 years ago

Ferguson Company recognized $400 of estimated manufacturing overhead costs at the end of the month. How does this transaction af

nadezda [96]

Answer:

This leads to a reduction in net income

Explanation:

Manufacturing overheads refer to those costs which indirectly relate to a good's production. Examples of manufacturing overheads would include depreciation charged on equipments used for production, rent of the factory wherein production takes place.

The effect of recognition of $400 of estimated manufacturing overheads would be reduction in net income since their recognition raises the cost of production which reduces gross profit. Consequently this would reduce the net income.

8 0

4 years ago

otato Company began the period with an accounts receivable balance of $2,693 and a balance in the allowance for doubtful account

Sphinxa [80]

Answer:

Potato Company

Balance in Allowance for Doubtful Accounts is $575 (Credit).

Explanation:

We can use a T-account for the Allowance for Doubtful Accounts to determine the balance:

Allowance for Doubtful Accounts

a. Accounts Receivable $668 Beginning Balance $494

Ending Balance $575 b. Bad Debt Expense $749

$1,243 $1,243

Ending Balance $575

The allowance for doubtful accounts is a contra account to the Accounts Receivable account. Its purpose to provide some estimation of the uncollectibles as a way of managing the credit risk involved in trade sales.

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3 years ago

What would happen if currency in all countries had fewer denominators?

uranmaximum [27]

Your answer should be C :)

good luck

8 0

3 years ago