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mash [69]
2 years ago
13

Jody is an agent for Insta Cross Country Trucking Inc. In the course of Jody's performance for the firm, Jody pays Heck for cert

ain vehicle maintenance and repair services. Jody's right to obtain the amount of those payments from Insta arises under the principal's duty of:________
Business
1 answer:
Vedmedyk [2.9K]2 years ago
5 0

Answer:

Reimbursement.

Explanation:

When an agent incurs expenses while acting in the interest of principal them the principal is obligated to reimburse the agent the funds spent.

In this scenario Jody is an agent for Insta Cross Country Trucking Inc. In the course of Jody's performance for the firm, Jody pays Heck for certain vehicle maintenance and repair services. Jody has the right to request for refund based on principal's duty of reimbursement.

The action taken must be verified to be in the interest of the principal if not she will not be entitled to reimbursement.

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Ming Chen began a professional practice on June 1 and plans to prepare financial statements at the end of each month.During June
Ksivusya [100]

Answer:

Each transaction leaves a different impact on each component of the accounting equation.

Explanation:

$60,000 is the owner's investment which is going to increase the equity

$15,000 worth of equipment will result in an increase in the owner's assets

Paying $1,500 will reduce the company's liabilities and also reduce current asset i.e. cash

Purchasing additional equipment for $10,000 will result in an increase in assets as the equipment will be coming to the business. On the other hand, it will also increase the company's liabilities as it is bought on credit.

The bill of $2,500 will increase assets

$8,000 bill will increase assets

Paying $6,000 for equipment will reduce cash and increase fixed assets.

Paying $3,000 cash as wages will reduce the amount of cash and eventually assets

Receiving $5,000 from the client will add more value to the assets

Paying $10,000 will reduce assets and liabilities.

Withdrawing $1,000 for personal use will adversely affect the equity

5 0
2 years ago
Clive's manager appointed him to lead the marketing group because Clive emerged as a natural team leader in a previous assignmen
Bezzdna [24]

Answer:

The correct answer is: formal .

Explanation:

The informal leader is defined as the one who influences other members of a work group or team; In most cases, they are not recognized by the formal power structure, nor do they receive extra compensation or benefit, nor do they have formal interference to fire or hire staff. They are individuals who, without the formal title or authority, act as defenders of the organization and raise their contribution and that of others through influence, knowledge, expertise and relationship building; acting generally? Below the water? as facilitators and motivators.

Within the group they play a decisive role in its effectiveness, due to its influence on the beliefs and expectations of its members, by setting goals and feedback. In addition, the informal leader maintains a reliable reputation as a source of reliable information, since it is the same group members who give them authority.

They use their influence to shape strategies, establish basic norms and values, allocate resources, coordinate intergroup efforts and negotiate with individuals outside the group. They learn to unite different groups of people with common interests or networks, while fostering and cultivating relationships within and outside the group. Not only do they create networks, but they become catalysts for others to form new communities throughout the organization.

5 0
2 years ago
A firm has sales of $215,600, costs of $124,800, interest paid of $3,600, and depreciation of $11,400. the tax rate is 34 percen
Tju [1.3M]

Cash Coverage ratio indicates if a firm has enough cash to pay of its interest expenses. The ideal ratio to be maintained by a firm is 1:1. This can be given by the following formula:

Cash Coverage Ratio=\frac{Earnings before Interest and Tax+Depreciation }{Interest Expense}

Cash Coverage Ratio=\frac{215600-124800+11400}{3600}

Cash Coverage Ratio=28.38

Assumption: Cost includes Depreciation, thus depreciation is added back, To find Cash Profits before Interest and Taxes.


6 0
2 years ago
Last year, Joan bought 50 pounds of hamburger when her household’s income was $40,000. This year, her household income was only
Norma-Jean [14]

Answer:

a. positive, so Joan considers hamburger to be an inferior good.

Explanation:

Income elasticity is a microeconomic concept that aims to measure the sensitivity of demand in the face of income changes. To calculate the Income elasticity , a formula is used that divides the observed percentage change in quantity (Q) by the percentage change in price income (P): Elasticity = ▲ Q / ▲ P

The percentage change in quantity (▲ Q) and the percentage change in price (▲ P) are calculated by the difference in quantity / price in the two periods divided by the quantity / price of the first period.

▲ Q = (60 -50/60) = 0,16

▲ Q = (40.000 - 30.000/40.000) = 0,25

Elasticity = ▲ Q / ▲ P  = 0,16/0,25 = 0,64

Therefore, the elasticity is positive.

This good is considered inferior, because according to microeconomic theory, inferior goods are those whose demand increases when consumer income decreases. This is the opposite of the normal good, which has its demand increased when income increases.

8 0
1 year ago
Teall Corporation has a standard cost system in which it applies manufacturing overhead to products on the basis of standard mac
erastova [34]

Answer:

$4,500 U

Explanation:

Teall Corporation

Budget variance = Actual fixed overhead cost − Budgeted fixed overhead cost

Actual total fixed manufacturing overhead $ 59,500

Less Budgeted fixed manufacturing overhead cost $ 55,000

Fixed manufacturing overhead budget variance for the month $4,500 U

Therefore the fixed manufacturing overhead budget variance for the month is $4,500 U

4 0
2 years ago
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