Answer: C) Frank is an outside director on Lofloy's board of directors.
Explanation:
As Frank has a full time employment position as a senior manager at Spinson Locomotives, he is most likely an outside director on Lofloy's board of directors.
Outside directors are those members of the board in a company that are not employed by the company which Frank isn't.
Outside directors like Frank are thought to be more impartial in decision making and for this reason companies are usually required to have a certain number of them sitting on the board.
Depreciation Expense $ 4
<h3>What is
Depreciation?</h3>
Depreciation in accounting refers to two aspects of the same concept: First, the actual decrease in the fair value of an asset, such as the annual decrease in the value of factory equipment.
The claim for depreciation on assets used by the assessee for the purpose of business or profession during the previous year. If an asset has been in use for more than 180 days, depreciation of 50% is allowable in that year.
Depreciation in Action - If a company purchases a delivery truck for Rs. 100,000 and expects to use it for 5 years, the company may depreciate the asset at a rate of Rs. 20,000 per year for a period of 5 years.
To know more about Depreciation follow the link:
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Answer:
free cash flow is 2.352 million
Explanation:
Given data:
operating income is $2.30 million
depreciation $1.20
tax rate is 25%
free cash flow is calculated by using below formula
free cash flow = operating income ( 1- Tax) + depreciation - fixed working capital
= 2.75( 1 - 0.25) + 1.20 - 0.6
= 2.352 million
free cash flow is 2.352 million
Answer:
Answer is Mild difference.
Explanation:
I hope it's helpful!
