An example of an ad valorem tax is

Clark’s Landscaping bills customers subject to terms 3/20, n/60.

Answer: 28.20%

Explanation:

To compute the annual interest rate implicit in the sales discount for thus:

Firstly, we have to calculate the difference that exist between the payment date and the due date and then divide by 365 days which has been given in the question. This will be:

= 60 days - 20 days = 40 days

= 365days/40days

= 9.125%

Secondly, we will then subtract the percentage discount from 100% and then divide the result. Since discount percentage is 3%, this will be:

= 3%/(100% - 3%)

= 3%/97%

= 0.03/0.97

= 0.0309278351

= 3.09%

Lastly, we then multiply the result of the calculations above together in order to get the annualized interest rate. This will be:

= 9.125% × 3.09%

= 28.19625%

= 28.20%

Annualized interest rate. =28.20%

4 0

4 years ago

Patrick has a written independent contractor agreement with his broker Tami. Last year, about 25% of his income came from sales

melomori [17]

Answer:

The correct answer here is C) an employee .

Explanation:

Even though Patrick has written independent contract agreement with his broker, he will be considered an employee not independent contractor because Patrick is earning 75% of his total income from his broker on a hourly wage and that is paid to him on normal pay date , while the independent contractors are paid when the accounts payable receives the invoice, usually independent contractors are paid after the completion of task or at the end of a period.

7 0

4 years ago

Read 2 more answers

What should the firm do if there is no possible output where the price would at least be equal to average variable costs

garri49 [273]

Answer:

Since the average variable cost curve lies below the average total cost curve, this implies that the average variable cost is the lowest price at which the producer can sell.

If there is no possible output where the price would be at least equal to the average variable costs, the firm should cease production, because it is not going to recover its costs, not to talk about making a profit.

Explanation:

A firm's average variable cost is the total variable cost divided by the total output. For example, if the total variable cost for a particular product is $4,500 with a total output of 450 units, then the average variable cost is $10 ($4,500/450).

3 0

3 years ago

Which is an example of an expense control strategy?

lana66690 [7]

Answer:

d

Explanation:

Unfortunately cutting or reducing production, or reengineering at all.

3 0

4 years ago

Data for Hermann Corporation are shown below:

timama [110]

Answer:

1) Yes monthly advertising budget should be increased as it increases the sales by $ 9000 even then there would be profit of $ 4000

2) the net operating income will increase by (38,000-24,000) = $ 14,000

Explanation:

Given

Sales 2000 units for $ 90 = $ 180,000

Variable Expenses = $126,000

Contribution Margin = $ 54,000

Less Fixed Expenses = $ 30,000

Operating Income = $ 24,000

1) Yes monthly advertising budget should be increased as it increases the sales by $ 9000 even then there would be profit of $ 4000

2) the net operating income will increase by (38,000-24,000) = $ 14,000

Sales 2000 units for $ 99 = $ 198,000

Variable Expenses (63 +2= $65) = $130,000

Contribution Margin = $ 68,000

Less Fixed Expenses = $ 30,000

Operating income = $ 38,000

8 0

4 years ago