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Airida [17]
3 years ago
8

Describe the differences and similarities surrounding the circumstances that caused the financial crisis during the 1980s and th

e crisis of 2007.
Business
2 answers:
erica [24]3 years ago
7 0

Answer:

The financial crisis that began in the 1980s was the result of lax government regulations and management fraud that led to the closure of more than 1,000 savings and loans. The 2007 crisis was the result of risky mortgage loans and investments connected with those loans. In each case, the situation resulted in borrowers’ inability to pay back loans and caused many to lose their homes due to foreclosure.

Explanation:

Lerok [7]3 years ago
3 0

Answer:

The financial crisis that began in the 1980s was the result of lax government regulations and management fraud that led to the closure of more than 1,000 savings and loans. The 2007 crisis was the result of risky mortgage loans and investments connected with those loans. In each case the situation resulted in borrowers’ inability to pay back loans and caused many to lose their homes due to foreclosure.

Explanation: Took the practice test on edge and this was the sample response. ^-^

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Flannery​ Company, a manufacturer of small​ appliances, had the following​ activities, allocated​ costs, and allocation​ bases:
VashaNatasha [74]

Answer:

Cost per letter for the correspondence​ activity= $ 8.75

Explanation:

Flannery​ Company

Given

                                 Activities Allocated      Costs Allocation Base

Account inquiry​ (hours)$ 77, 000                      2,600 hours

Account billing​ (lines) $ 38, 000                         19,000 lines

Account verification​ (accounts) $ 20,000         30,000 accounts

Correspondence​ (letters) $ 14,000                    1, 600 letters

Activities                          Northeast Office        Midwest Office

Account inquiry​ (hours)          100 hours            200 hours

Account billing​ (lines)             10,000 lines          9,000 lines

Account verification​ (accounts) 1 ,000 accounts 650 accounts

Correspondence​ (letters)           50 letters               110 letters

Calculations

Cost per letter for the correspondence​ activity= Total Correspondence/ Total No of letters

Cost per letter for the correspondence​ activity= 14000/1600= 8.75

Cost per letter for the correspondence​ activity= $ 8.75

We divide the activity cost with the corresponding cost driver to get the cost per unit of activity.

4 0
3 years ago
What role did patents play in the work of inventors such as Thomas Edison? Patents protected inventors and let them profit from
umka21 [38]

<em>Patents protected inventors and let them profit from their inventions</em>

<em>~Luis~</em>

5 0
3 years ago
The following cost behavior patterns describe anticipated manufacturing costs for 2013: raw material, $7.60/unit; direct labor,
Advocard [28]

Answer: The answer is as follows:

Explanation:

Given that,

Raw material = $7.60/unit

Direct labor = $10.60/unit

Manufacturing overhead = $8.60/unit

(1) Unit cost under variable costing = Raw material + Direct labor + variable Manufacturing overhead

= 7.6 + 10.6 + 8.6

= 26.8

(2) Unit cost under absorption costing = Raw material + Direct labor + variable Manufacturing overhead + fixed Manufacturing overhead

= 7.6 + 10.6 + 8.6 + 8.6

= 35.4

5 0
3 years ago
Explain the purposes of companies act​
Ymorist [56]

Answer:

The purposes of the Act and King 111 are, inter alia, to promote compliance with the Bill of Rights as provided for in the Constitution in the application of company law, to encourage transparency and high standards of corporate governance and provide for the balancing of rights and obligations of shareholders

3 0
2 years ago
Mike Barr was an outstanding football player in college and expects to be drafted by the NFL in the first few rounds. Mike has l
SOVA2 [1]

Answer:

The answer is: Mike will have to pay state income tax even if he is signed by teams from Florida, Texas or Washington, due to Jock Taxes that are levied on professional athletes.

Explanation:

Mike could be selected by a team from Florida, Texas or Washington (6 possibilities out of 32 teams) and not pay any state income taxes for the games they play at home.

He will have to pay state income taxes for the other games his team plays outside those 3 states and Washington DC. Most states (47) collect a Jock Tax which means that professional athletes that reside outside the state must pay state income taxes when they play a visiting game in their state.

5 0
3 years ago
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