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zalisa [80]
2 years ago
8

Arnold is the CEO of Beta Corp. Arnold's responsibilities include making decisions on product development, marketing and other s

ignificant business directions. Arnold's position is subject to the approval and oversight by Beta's Board of Directors.
Carol is a Beta manager whose responsibilities include directing Beta's day to day hiring, firing, purchasing and selling.
Dave is a Beta salesperson whose daily activities are controlled by Carol, his supervisor.
Fred works from home to edit Beta's technical manuals on a contract- per-manual basis (he is paid for each manual he edits), and is not otherwise subject to Beta's control.
Identify each of the persons below as a principal, an agent, an agent-employee or an independent contractor - and explain your conclusion. For example, is Arnold a principal, agent- employee, or independent contractor and why? If you believe a person can hold more than one status, discuss/explain.
A. Arnold
B. Carol
C. Dave
D. Fred
Business
1 answer:
Luden [163]2 years ago
6 0

Answer:

Beta Corp.

A. Arnold = Agent (Arnold exercises significant power on behalf of the Beta's Board of Directors).

B. Carol = Agent-Employee (Carol does not exercise significant power on behalf of the principal (the Board of Directors of Beta).  Instead, she is subject to Beta's control)

C. Dave = Agent-Employee, just like Carol.  He is a mere employee subject to Beta's control.

D. Fred = Independent Contractor because he controls and directs the result of his work, though he does not decide the work or how it should be done.

Explanation:

Principal = a person who assigns the agent to act on her behalf.

Agent = a person who the principal authorizes to exercise significant power on her behalf.

Agent-employee = an employee of a company.  The employee does not exercise the right of control and direction of the results of her work.

Independent contractor = a person who exercises the right of control and direction for work result, and not how and what is done.

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Suppose a gardener produces both tomatoes and squash in his garden. If he must give up 8 bushels of squash to get 5 bushels of t
liraira [26]

Suppose a gardener produces both tomatoes and squash in his garden. If he must give up 8 bushels of squash to get 5 bushels of tomatoes, then his opportunity cost of 1 bushel of tomatoes is 5/2 bushels of squash.

Opportunity costs are the possible advantages which any person or  investor  or any company forgoes while deciding between the  two options.

Opportunity costs are invisible in nature. An opportunity cost is simply by definition is the difference between the expected returns of each option and this is also  the formula for doing so.

To learn more about opportunity cost here

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4 0
1 year ago
Yasmin listed a house at a 6% commission rate, and it just sold for $463,500. Her brokerage and the buyer’s agent’s brokerage sp
AVprozaik [17]

Answer:

$8,343

Explanation:

Calculation to determine How much did Yasmin earn from this transaction

First step to calculate the Total commission from sale

Total commission from sale= ($463,500 × 0.06)

Total commission from sale=$27,810

Second step is to calculate Yasmin's firm's share

Yasmin's firm's share= ($27,810 ÷ 2)

Yasmin's firm's share=$13,905

Now let calculate How much did Yasmin earn from this transaction

Yasmin's Earning = ($13,905 × 0.60)

Yasmin's Earning=$8,343

Therefore the amount that Yasmin earn from this transaction is $8,343

6 0
2 years ago
If a family spends its entire budget in a given time frame, the family can afford either 80 cans of beans or 35 frozen pizzas. A
Fofino [41]

Answer:

7/16

Explanation:

Opportunity cost is the cost of the alternative forgone. It is also called the real cost. It is a concept in economics developed due to the fact that wants are unlimited but the resources available to meet the wants are limited. Hence a scale of preference would be drawn up for the wants in order of importance.

If the family can afford either 80 cans of beans or 35 frozen pizzas, the cost of a can of beans in terms of frozen pizza is 35/80 frozen pizza while the cost of a unit of frozen pizza in terms of beans is 80/35.

As such, the opportunity cost of one can of beans in terms of frozen pizza is 35/80 which is 7/16 in the lowest term

6 0
3 years ago
Net working capital is defined as current assets divided by current liabilities.
Ahat [919]

Answer:

The answer is False.

Explanation:

False, because the net working capital is determined by subtracting all the current liabilities from the current assets. But in the question, it says net working capital is determined by dividing the current assets with current liabilities which is wrong. Therefore, if the current assent is 10000 dollars and current liabilities are 5000 dollars then net working capital is 10000 – 5000 = $5000.

7 0
3 years ago
Give two examples of mandatory payroll deductions
LuckyWell [14K]

Answer:

Payroll deductions include: Payroll tax withholdings such as fedral, state, and local income taxes, social security taxes, unemployment taxes; Voluntary deductions such as contributions to a pension plan, premium for group life.

3 0
3 years ago
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