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3 years ago

Why is personal finance dependent upon your behavior?

1 answer:

8 0

Personal finance depends on your behavior because you are the manager of your financial resources, so it is necessary to carry out personal planning of your finances.

Personal financial behavior can be measured by six dimensions, which are:

Emergency funds
Indebtedness level
Savings rates
Asset diversification
Retirement Preparation
Wealth distribution

Personal finances are directly impacted by our behaviors and decisions. Some of these behaviors are subconscious and difficult to identify, but they should be analyzed in case they negatively influence your finances.

Therefore, financial planning is essential to use your financial resources consciously and in accordance with your goals.

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A sole proprietor in the 37% tax bracket pays her 16-year-old son a reasonable salary of $14,000 for services performed for the

Daniel [21]

Answer: $5020

Explanation:

The family's income tax savings if the son has no other income and takes a $12,400 standard deduction will be calculated as:

Explanation:

Tax savings from deduction = ($14,000 × 37%) = $5180

Less: Tax on child's taxable income = 10% × ($14,000 - $12,400) = 10% × $1600 = $160

Family's income tax savings = $5180 - $160 = $5020

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3 years ago

Assume PRC Corp., an equipment distributor, sells a piece of machinery with a list price of $600,000 to ACH Inc. ACH will pay $6

katen-ka-za [31]

Answer:

b. $600,000

Explanation:

The company has to record as revenue the product at the list price, then if exist a special discount on the price list, it must be record as discount applied to products in the Income Statement, separate of Revenue or Gross Sales.

The price that the company ACH pay by the product ($650,000) it's not at change on the price if not due to the payments term which is one year later, so the company ACH has to pay a financial cost because the payment will be made one year later.

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3 years ago

Neeraj carves wooden squirrels, which he sells to benefit the local nature center. he charges $30 for each squirrel. squirrels a

Lana71 [14]

Squirrels are Neeraj's economic answer to What to produce.

In economics, for whom to produce, would be the buyers. How to produce, would be the method used to create the squirrels, i.e. carving. When to produce, would depend on the demand.

Three fundamental concerns must be addressed by any economic system: what to create, how to make it, and for whom to produce it. It's important to remember that several factors, including land, labor, and capital, are in short supply. Sadly, we must make some sacrifices because we cannot have everything. How about the best ones? Choosing the combination of goods and services that maximizes value or utility is key to maximizing the effectiveness of resource allocation.

What kinds and how much of each product should be made? Products that cannot maintain profitable prices in the market will be scrapped. Therefore, only products with positive pricing should be produced, and they should be made in a way that will cause the economic markets to clear.

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2 years ago

What form of arbritration refers to situations where local representatives agree to comply with the arbitraters decision before

PilotLPTM [1.2K]

Answer:

binding arbitration

Explanation:

Both parties agree to be bound by the decision of the arbiter and follow the recommendations/obligations stipulated by the arbiter at the end of the process.

That bound of the two parties makes it a binding arbitration.

As opposed to a non-binding arbitration where the result cannot be enforced onto the parties, a bit like a mediation. The result is more like a discussion starting point towards a negotiation of the end of the conflict.

8 0

3 years ago

The Howell Company has prepared a sales budget of 40 comma 000 finished units for a 3-month period. The company has an inventor

babymother [125]

Answer:

Purchases= 123,000 gallons

Explanation:

Giving the following information:

Sales:

40,000 finished units for 3 months.

Finished goods inventory:

Beginning inventory= 11,000 units

Desired ending inventory= 13,000 units

It takes 3 gallons of direct materials to make one unit of finished product.

Direct material inventory:

Beginning inventory= 61,000 gallons

Desired ending invenyory= 58,000 gallons

First, we need to calculate the production for the period:

Production= sales + desired ending inventory - beginning inventory

Production= 40,000 + 13,000 - 11,000

Production= 42,000 units

Now, we can calculate the purchases:

Purchases= production + desired ending inventory - beginning inventory

Purchases= 42,000*3 + 58,000 - 61,000

Purchases= 123,000 gallons

7 0

3 years ago