The area employers are required to withhold the FICA tax from the employees that is option B is correct.
FICA is referred to as the Federal Insurance Contributions Act and the tax is known as the FICA tax. It includes all the social security and the Medicare taxes that any individual has to pay. FICA taxes are reemitted from the pay of the employees working in any organization by the employer because this tax is paid the employer on the collective basis on behalf of all the employees by the employer to the government. This is the reason why the FICA tax is withholded from the income of the employees as the withholding tax is paid by the employers on behalf of the employees.
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which of the following is true about business decision-making failures? a. they are inevitable. b. they can be avoided with more information. c. they can always be avoided with proper planning. d. they are to be avoided at all costs.
They can always be avoided with proper planning. The correct answer is option (b).
What is decision-making failures?Decision-making is the process of selecting the alternative or course of action that best suits one's needs. Managers in an organization take a number of steps to decide the planned route for business goals and to start specific actions.
Many poor decisions result from a decision-making process that was too hasty and didn't include the essential brainstorming stage or a sufficient consideration of all the potential outcomes of each possibility. Making decisions that are supported by knowledge and reason can help the business achieve long-term success.
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for their hostile financial takeovers, entrepreneurs like michael milken and ivan boesky used high-risk securities known as
For their hostile financial takeovers, entrepreneurs like Michael Milken and Ivan Boesky used high-risk securities known as Junk bonds.
Entrepreneurship is the introduction or extraction of economic price.[1][2][3] With this definition, entrepreneurship is viewed as an exchange, commonly entailing risk beyond what is generally encountered in beginning a commercial enterprise, which can also encompass different values than sincerely monetary ones. An entrepreneur is an person who creates and/or invests in a single or more organizations, bearing maximum of the risks and enjoying most of the rewards.
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the incorporates a point of view toward the material dramatized in the script, a comedy or tragedy for example, whereas the must understand this point of view and translate it in ways appropriate for the production.
The playwright incorporates a point of view toward the material dramatized in the script, a comedy or tragedy for example, whereas the director must understand this point of view and translate it in ways appropriate for the production.
A play or drama writing is a story written for actors to perform, with 'play' referring to a theatrical performance. Playwrights are the people who write them, and the physical scripts are sometimes referred to as manuscripts, while some historical scripts are referred to as folios due to their format.
A list of characters will be included in a play script (at the very beginning). It could be divided into acts, which could then be subdivided into scenes. Each scene will begin with a description of the setting, followed by the characters' dialogue.
The _____ incorporates a point of view toward the material dramatized in the script, a comedy or tragedy for example, whereas the ____ must understand this point of view and translate it in ways appropriate for the production.
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A country that advances its national interests abroad by prioritizing international cooperation, compromising with foreign allies, and participating in international organizations such as the united nations is following a _____.
A country that advances its national interests abroad by prioritizing international cooperation, compromising with the foreign allies, and participating in the international organizations such as united nations is following multilateralism grand strategy.
What is multilateralism?Multilateralism is the term used to describe a group of nations working together to achieve a shared objective in international affairs. In the form of membership in international institutions, multilateralism seeks to bind strong states, deter unilateral, and offer lesser powers a voice and influence they would not otherwise have. Minor countries teaming together to collectively bind a larger one can be an effective Lilliputian method for a small power to influence a huge power. Similarly, multilateralism may provide one superpower the ability to influence another. It could be expensive for a great power to attempt to exert influence through bilateral ties; it might necessitate compromise and negotiation with the other great power.
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What factors caused the great depression to spread around the world? select three answers.
a. americans stopped buying from overseas nations.
b. large numbers of jobless americans moved overseas.
c. many countries raised tariffs on imported goods.
d. stock markets started to crash in many other nations.
e. americans demanded repayment of european loans.
The factors that caused the great depression to spread around the world are (a) .Americans stopped buying from overseas nations.
Many nations increased import duties. Americans insisted that European debts be repaid. The Great Depression, which lasted from 1929 to 1939, was the worst economic downturn in the history of the industrialized world. It started after the 1929 stock market catastrophe, which paralysed Wall Street and caused the loss of millions of investors.
The Federal Reserve had previously led to banks becoming less eager to lend money to the general public. Earlier, the stock market also experienced a dip.
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Answer:
A.) Americans stopped buying from overseas nations.
C.) Many countries raised tariffs on imported goods.
E.) Americans demanded repayment of European loans.
Explanation:
edge
the per-unit standards for direct labor are 2 direct labor hours at $15 per hour. if in producing 1,800 units, the actual direct labor cost was $48,000 for 3,000 direct labor hours worked, the total direct labor variance is question 7 options: $6,000 favorable. $3,750 unfavorable. $1,800 unfavorable. $6,000 unfavorable
The total direct labor variance is : $6,000.
Direct labor variance is the effect of the differences between the wage rate or the number of hours worked in actual and the projected or expected. Shown below are the procedures to which the inputs to the equations were calculated.
Standard Rate = (2 direct labor hour) x ($15/hour) x (1800) = 54,000
Actual Direct Labor cost = $48,000
The variance is calculated by subtracting the actual cost from the standard rate.
Variance = ($54,000) - ($48,000)
Variance = $6,000
Therefore, the variance to the given data is $6,000.
Labor is the quantity of physical, intellectual, and social attempt used to supply goods and offerings in an economic system. It elements the understanding, manpower, and service needed to turn uncooked substances into finished services and products.
Physical labour is that during which the laborer has to go through a awesome deal of bodily exertion. 1. intellectual labour involves plenty of intellect of an individual.
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between january 2012 and january 2019, u.s. employment increased by 17.3 million workers, but the number of unemployed workers declined by only 6.3 million. true or false: the labor force has increased.
It is false, because the labor force is the sum of the employed and the unemployed. So the fact that employment has increased by 17.3 million and unemployed has decreased by 6.3 million means that the labor force has increased by 11 million.
What is the difference between labor force and workforce?Labor force refers to the number of people who are actually working or willing to work. However, work force refers to the number of people actually working. Therefore, workforce do not count those who work willingly. The difference between them is the total number of unemployed people.
What is the meaning of labor force?The labor force is the sum of the employed and the unemployed, and the unemployment rate is the number of unemployed divided by the labor force. An employee is a person who works at least one hour for her wages or for her own company at any time of the week, including his 12th day of the month. Example: This includes full-time, part-time and freelancers. This includes people who receive hourly wages, salaries, or are paid under a contract. The total labor force includes all persons aged 16 and over who are not retired.To learn more about labor force visit:
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how can a monopolistic competitor tell whether the price it is charging will cause the firm to earn profits or experience losses?
A monopolistic competition firm will profit if its price is higher than the average total cost, and it will lose if its price is lower than the average total cost.
Monopolistic competition is a type of imperfect competition in which many producers compete against one another but sell products that differ from one another and thus are not perfect substitutes.
A monopoly is a form of imperfect competition in which a seller or producer dominates the market because there aren't any alternatives or rivals. Monopolistic competition is a type of imperfect competition in which multiple sellers compete for market share by differentiating their products.
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cheryl and roberto just signed a contract for cheryl to buy roberto’s house for $235,000. roberto owes $48,750 on his current mortgage, he’s going to replace the old furnace ($800), he’s agreed to pay 3% toward closing costs, and he’ll pay a 6% commission to his agent. how much in whole dollars will he have left to put down on the condo he wants to buy?
How much in whole dollars will he have left to put down on the condo he wants to buy? $164,300
Roberto's closing costs will be $7,050($235,000 x0.03) and commission will be $14,100($235,000 x0.06).
Subtract those two amounts, the furnace cost ($800),and the mortgage loan pay off ($48,750) from $235,000 to get $164,300
Dollars - In the beginning, a silver coin that circulated in many countries; nowadays, the name of the usual economic unit in the united states, Canada, Australia, New Zealand, and different countries. The Spanish peso, or piece of 8, which circulated within the Spanish and English colonies in the usa, become referred to as a dollar by means of the English-speaking peoples. Familiarity with this coin resulted in the official designation of the us monetary unit because the dollar in 1792. Canada followed the dollar and monetary decimal machine in 1858; Australia in 1966; and New Zealand in 1967.
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brian owns a company that makes inexpensive replacement parts for bicycles. he's ready to increase the scale of his business and wants to use display ads to drive sales. which feature of a display ads will help brian achieve his business objectives?
The feature of the display ads that can help Brian achieve his business objectives will be d) his ads can appear on websites relevant to bicycles, and therefore connect him to his potential audience.
In order for an ad to make influence on the market, the ad should be set in such a way that it is able to target the right audience.
As the company of Brian is concerned with replacements for bicycles, hence when using display ads he needs to target an audience that will be relevant to bicycles. Hence, the best strategy for Brian to reach his objective will be to make his display ad appear on websites that are relevant to bicycles as his target market will be visiting these websites most likely.
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Many managers believe that being empowered to create their own self-_____ budgets is the most effective method of budget preparation.
Many managers believe that being empowered to create their own self-imposed budgets is the most effective method of budget preparation.
What is budget?
A budget is an estimate of income and expenditures for a given future period of time, and it is often created and updated on a regular basis. A individual, a group of people, a corporation, a government, or pretty much anything else that makes and spends money can all have budgets.
Budgeting is essential if you want to control your monthly spending, be ready for life's unforeseen events, and be able to buy expensive products without falling into debt. It doesn't have to be tedious, you don't have to be good at math, and keeping track of your income and expenses doesn't mean you can't buy the things you want. It simply means that you will be more aware of where your money is going and that you will have more financial control.
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the reasons section of a bad-news message need not emphasize how the audience will benefit from the decision.
The statement 'the reasons section of a bad-news message need not emphasize how the audience will benefit from the decision' is true.
In the field of business, a bad news message is a message in which the message is negative. When getting a bad news message, it is the right of people to know why the bad news was implemented.
For doing so, the broker of the bad-news message should emphasize the benefits and the reason that the decision was raked. Otherwise, people can retaliate with violence if a proper reason or benefits of the bad news are not provided.
The question will correctly be written as:
The reasons section of a bad-news message need not emphasize how the audience will benefit from the decision. True or False
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Which of the following conditions normally would not indicate that standard costs should be revised?a.The engineering department has revised product specifications in responding to customer suggestions.b.The average price of raw materials increased from $4.68 per pound to $4.82 per pound.c.The company has signed a new union contract that increases the factory wages on average by $3.50 an hour.d.Actual costs differed from standard costs for the preceding week.
Conditions that would typically not suggest that cost information should be updated included actual expenses differing from standard costs again for previous week.
Describe what you mean by "standard cost."The planned cost of a typical manufacturing process is the benchmark against which real costs are measured. Of course, the first standard costs will need to be estimated if a new good, service, or method is to be used. A standard cost is also referred to as the cost that "should be," a preset cost, a projected future expense, an expected cost, a budgeted unit cost, or a forecast cost.
What are some instances of standard costs?Examples include payments due for rent, utilities, insurance, office staff salary, and supplies, among others. $15 per hour read more. Moreover, the usual fixed price is $100,000. Therefore, 10 hours are needed to produce one unit in total. Find the company's average cost.
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Starfish shells had a beginning balance in notes payable of $35,000 and an ending balance of $40,000. This will be reported as _____ on the statement of cash flows.
Starfish shells had a beginning balance in notes payable of $35,000 and an ending balance of $40,000. This will be reported as an increase of $5,000 in the cash flows from the financing activities section on the statement of cash flows. Thus, option C is correct.
What is a cash flow?The total amount of money of liquidity coming into and going out of a business is referred to as cash flow. Spending money and money obtained reflect inflows and outflows, respectively. A cash flow is a physical or virtual transportation of funds; in its strictest definition, it refers to a transaction, particularly one made by one central bank institution to another.
Beginning balance of the note payable less the final balance
= $40,000 - $35,000
= $5,000
Therefore, option C is the correct option.
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The question is incomplete, the complete question is:
an increase of $5,000 in the cash flows from investing activities section a decrease of $5,000 in the cash flows from investing activities section an increase of $5,000 in the cash flows from the financing activities section a decrease of $5,000 in the cash flows from financing activities section
which entry mode is used by many small and medium-sized enterprises to gain access to various country markets ? multiple choice question.
Indirect export entry mode is used by many small and medium-sized enterprises to gain access to various country markets.
Which method of entering a global market is most common?
Most businesses start their worldwide development utilising this type of entry because exporting is often the simplest method to reach a foreign market. Exporting is the act of selling goods and services that were produced domestically in other nations.
Many small and medium-sized businesses that want to penetrate new markets frequently choose indirect export, at least for regions that are farther away and may have different cultures, languages, and time zones.
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1. if a contingent liability is probable and the amount of the liability can be reasonably estimated, it is
A financial statement will contain the contingency if it is probable and the amount of liability is probable, the contingent obligation be added as a footnote to a financial statement.
In the financial statements, how are contingent liabilities handled?A company's financial statements never include contingent liabilities. Although these duties have not yet materialized, they might do so in the future. Therefore, a contingent liability is not treated in an accounting sense. These contingent liabilities now need to be examined annually.
When should a company disclose contingent liabilities?If a liability is conceivably feasible but not probable, or if a liability is probable but the amount cannot be estimated, disclose the presence of the liability in the notes to the financial statements.
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Two of the most influential international agencies, the International Monetary Fund and the World Bank, were designed to establish a stable economic landscape and were established in 1944 at...
Bretton Woods
In order to create a stable economic environment, the International Monetary Fund and the World Bank, two of the most significant international organizations, were founded in 1944 at Bretton woods
Following the 1944 Bretton Woods Agreement, the Bretton Woods system of monetary management established the guidelines for trade and financial relations among the United States, Canada, Western European nations, Australia, and Japan. The Bretton Woods system served as the first illustration of a fully negotiated monetary order meant to regulate monetary relations between independent states.
The U.S. dollar was tied to the value of other currencies under the Bretton Woods System, which used gold as its foundation. Early in the 1970s, President Richard M. Nixon declared that the United States would no longer exchange gold for dollars, essentially ending the Bretton Woods System.
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the economic model pattern that describes concentric circles of similar economic/agricultural activities around a central market/business district is known as:
An economic model or a pattern that helps in describing about the concentric circles of similar economic/agricultural activities around a central market/business district is known as von Thunen rings. Therefore, the option A holds true.
An economic model can be referred to or considered as a model, which is based on the graphical or pictorial representation of economic studies and theories throughout their entirety. The model with concentric circles for representing the business districts is known as the model of von Thunen rings.
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Complete question
The economic model pattern that describes concentric circles of similar economic/agricultural activities around a central market/business district is known as:
- von Thunen rings
- Peripheral model
- Sector model
- Multiple nuclei model
mark the correct answer. 1. an import tariff always generates a loss in consumer surplus. (a) true (b) false 2. an import tariff imposed by the home country always generates a loss in the home country’s surplus. (a) true (b) false 3. an import tariff imposed by the home country always generates a loss in worldwide surplus. (a) true (b) false 4. protection of infant industries is one of the few examples where tariffs are always justified. (a) true (b) false 5. the wto prohibited all sorts of quotas in most industries.
An import tariff always generates a loss in consumer surplus. (a) true.
A consumer surplus happens when the fee that purchasers pay for a product or service is less than the fee they may be willing to pay. it's a degree of the additional advantage that clients receive because they are paying less for something than what they had been willing to pay
Client surplus reflects the amount of software or advantage customers acquire when they purchase products and services. customer surplus is crucial for small corporations to remember because customers that derive a big gain from buying products are more likely to buy them again inside the destiny.
A surplus describes the amount of an asset or resource that exceeds the element it is actively utilized. A surplus can discuss with a host of various gadgets, which include profits, earnings, capital, and items. inside the context of inventories, a surplus describes products that remain sitting on keep cabinets, unpurchased.
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which asset has the highest liquidity? group of answer choices 500 shares of apple stock deposits in a savings account a rembrandt painting a vacation home
The asset , which has highest liquidity will be cash.
Because cash could be just now in the form of money, it serves as the most liquid asset. Physical currency, savings account balances, as well as checking account balances are all included. Foreign currency is also included, albeit certain foreign currencies could be challenging to convert into a relatively local currency.
Cash serves as the most liquid asset, commodities have varying levels of liquidity, and fixed assets are often nonliquid. Real estate, for instance, would not be regarded a liquid asset.
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in some cases when the labor market is inefficient, a minimum wage appears to cause a small amount of . in others, it seems to change who is .
In some cases when the labor market is inefficient, a minimum wage appears to cause a small amount of unemployment it seems to change who is employed.
A wage is money paid to an employee by their employer for labor completed over a certain amount of time. Wage payments include remunerative payments like rewards and tip payouts as well as compensation payments like the minimum wage, prevailing wage, and annual bonuses. Wages are a component of the costs associated with operating a business. Regardless of the company's prosperity, it is a duty to the employee.
Payment by wage contrasts with salary, where the employer pays a set sum at regular intervals (such as a week or month) regardless of the number of hours worked, commission, where pay is contingent on individual performance, and compensation based on the performance of the company as a whole.
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currently andrews is paying a dividend of $19.00 (per share). if this dividend stayed the same, but the stock price rose by 10% what would be the dividend yield?
Andrews is now disbursing a $19.00 dividend (per share). If the stock price increased by 10% while the dividend remained the same, then the dividend yield will decline.
What is Dividend yield?The amount of money a firm pays shareholders for owning a share of its stock divided by its current stock price is known as the dividend-yield, which is represented as a percentage.
The dividend yield is a projection of a stock investment's return on dividends alone. The yield will increase when the price of the stock decreases, assuming that the dividend is not increased or decreased.
In the opposite scenario, it will decrease when the stock price increases. Because dividend yields fluctuate in relation to stock prices, they may appear disproportionately high for stocks that are depreciating rapidly.
Therefore if dividends were remain same and the price will rise then yield will decline. Here the price of stock is not given then unable to find the percentage.
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a two-year bond with par value $1,000 making annual coupon payments of $100 is priced at $1,000. what is the yield to maturity of the bond?
A two-year note with a face value of $1,000 and an annual coupon payment of $100 is worth $1,000. The yield to maturity is the coupon rate and 10% is the yield to maturity of the bond.
In finance, the yield of a security is a measure of the prior rate of return of the holder of the security. This is one component of investment return, another component is the change in the market price of the security.
Yield has several different meanings. One is "produce or provide (something like a plant or crop)" or "produce (something) as a result of time, effort, or labor." Here are some examples of this usage. This soil gives a good harvest. The trees have brought a bountiful harvest this year.
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The Magnanimous Company uses a predetermined overhead rate of $12 per direct labor hour to apply overhead. During the year, 30,000 direct labor hours were worked. Actual overhead costs for the year were $320,000. The overhead variance is:
$36,000 overapplied
$40,000 overapplied
$35,560 underapplied
$40,000 underapplied
none of the above
Option b is correct. Actual overhead costs for the year were $320,000. The overhead variance is $40,000 overapplied.
Applied overhead is equal to 12 x 30,000, or 360,000.
$320,000 is the actual overhead.
Applying, $40,000 overapplied.
An allocation rate known as the predetermined overhead rate allocates a specific amount of manufacturing overhead to job orders or goods. Many businesses divide the anticipated manufacturing overhead expenses by an allocation base to get at predefined overhead, which is calculated at the start of each reporting period. The allocation base is frequently referred to as the activity driver or cost driver.
Cost accounting terms are allocation basis. In manufacturing accounting teams, the following allocation bases are frequently used:
The number of service calls and machine hours
Kilowatt-hours consumed Area
Employees and hours worked.
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assume that you have a balance of $3000 on your mastercard and that you make no more charges. assume that mastercard charges 13% apr and that each month you make only the minimum payment of 5% of the balance. what will the balance be after 30 months? enter your answer rounded to two decimal places.
The balance after thirty months would be $881.57.
Balance after the minimum payments is calculated as follows:
Initial balance * ((1+r)(1-m))^t
Where r = APR/12 and m = monthly minimum per cent
The Given information is:
Initial balance = 3000
R = .13/12 = 0.01083 and
m = 0.05
Putting these values in the formula, we get
3000*((1+0.01083)(1-0.05))^t = 3000*(1.01083*0.95^t
= 3000*(0.960)^t
So we have the equation = 3000*(0.960)^t.
To find the balance after 30 months, put the value of t in the equation above,
We know, t = 30 then,
3000*(0.960)^30 = 3000*0.2938 = 881.57
So we will have an amount of at least $881.57 after six years.
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5.92 points ebookprintreferencescheck my workcheck my work button is now disabled2item 17 northern air would like to sell 3,300 shares of stock using dutch auction underwriting. the bids received are: bidder quantity price a 600 $ 29.15 b 700 28.80 c 1,100 28.65 d 1,300 28.30 e 1,500 28.10 how much will the company raise in its offer? ignore all flotation and transaction costs. multiple choice
$93,390 will the company raise in its offer.
Placement:
Bidder A: 600 shares at $29.15 (3300 – 600 = 2700 shares remaining)
Bidder B: 700 shares at $28.80 (2700 – 700 = 2000 shares remaining)
Bidder C: 1100 shares at $28.65 (2000 – 1100 = 900 shares remaining)
Bidder D: 1300 shares at $28.30 (900 – 900 = 0 shares remaining)
Bidder E: 1500 shares at $28.10
Hence, the stocks will be sold at $28.30.
A will get 600, B will get 700, C will get 1100, D will get 900 and E will get nothing
Total Amount Raised = 3300*28.30 = $93,390
A company , abbreviated as co., is a criminal entity representing an affiliation of people, whether herbal, felony or a combination of both, with a particular objective. organisation participants percentage a common reason and unite to reap particular, declared goals.
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California Pizza Kitchen (CPK), a well-known restaurant throughout the State of California, decides to open its first establishment in Nevada just off the Las Vegas Strip. The reason why CPK wanted to open in this location was because the NFL has plans to move a team from Oakland to Las Vegas in time for the upcoming football season and they wanted to be the closest pizza shop to the stadium, which is being built right now. CPK opens and initially business is slow. Earlier today, the NFL announced that due to financing falling through with potential ownership that there would be no team coming to Las Vegas for the foreseeable future and that no stadium is going to be built. Upon hearing this news, CPK sues the NFL and the potential ownership group in Las Vegas for breach of contract, as the restaurant expected significant profits from the team's move to Las Vegas, which they will now not receive. Which of the following best describes how the court will rule in this case? CPK is not entitled to damages for the NFL's alleged breach of contract because the NFL never agreed to a novation for CPK's opening of its restaurant. CPK is not entitled to damages for the NFL's alleged breach of contract because CPK is an incidental beneficiary. CPK is entitled to damages for the NFL's breach of contract because CPK is a donee beneficiary. CPK is entitled to damages for the NFL's alleged breach of contract because CPK is a creditor beneficiary
The correct option is (b). CPK is not entitled to damages for the NFL’s alleged breach of contract because CPK is an incidental beneficiary.
An economic unit–business or business–at a single geographic vicinity, wherein enterprise is carried out or wherein offerings or commercial operations are finished. An established order isn't always equal to an agency or company, which may additionally consist of one or extra establishments. status quo refers to the level inside the statistical hierarchy under the business enterprise inside the business sign in the statistical hierarchy, and at which the accounting facts required to measure products are available (principal inputs, revenues, salaries, and wages).
The status quo level includes your preliminary activity search, making use of a job, and accepting your first long-time period position. Organizational shape provides steering to all employees by means of laying out the authentic reporting relationships that govern the workflow of the organization.
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Paul expressed frustration that the same advertisement was aired several times during aprogram. His frustration was with the ______ of the ad.A)click-through rateB)impressionsC)frequencyD)gross rating pointsE)reach
Paul expressed frustration that the same advertisement was aired several times during a program. His frustration was with the frequency of the ad.
Top-of-thoughts consciousness is whilst clients imply that they recognize the emblem whilst the call is offered to them. Betty is assessing the impact of her firm's advertising communications. She ought to recall that the remaining purpose is to force the receiver to action.
Targeted advertising is discovering and knowledge your potential customers' pastimes and desires so that you can consciousness your message — and your advertising budget — at the unique target market phase maximum probable to buy your product or service.
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In the BLANK stage of the product life cycle, the product gains acceptance, demand and sales increase, and there are more competitors
In the growth stage of the product life cycle, the product gains acceptance, demand and sales increase, and there are more competitors.
Growth stage:During the growth phase, consumers accept the product in the market and customers actually start purchasing. This means demand and profits are growing steadily and rapidly. During the growth period, the market for the product expands and competition begins.
What are the four growth strategies?Products, placements, promotions and pricing are the four growth strategy. While the four P's focus on audiences, channels, and pricing, Ansoff's matrix is more effective for taking a broader view of the market, with each of Ansoff's four quadrants In old he uses the 4 P's framework.
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Ernst, Frieda, and Gertrude bought Blackacre, a three-bedroom house, and took title as tenants in common. They bought Blackacre as an investment and planned to rent it out. However, Frieda and Gertrude loved the house and decided to move in. Ernst wants Frieda and Gertrude to pay him rent for living in a house that is one-third his, after all. Frieda and Gertrude flat out refuse to do so and tell him he's free to move in with them if he wants to. Which of the following is true?
A. Frieda and Gertrude owe Ernst two-thirds of the rental value of the house.
B. Frieda and Gertrude owe Ernst one-third of the rental value of the house.
C. Frieda and Gertrude do not owe Ernst rent, but the value may be taken into
account in determining liability for carrying charges such as insurance in an accounting action.
D. If the three were joint tenants instead of tenants in common, Frieda and Gertrude
would have to pay Ernst rent.
Ernst does not owe Frieda and Gertrude rent, but the value may be considered in determining liability for carrying charges such as insurance in an accounting action is true.
Accounting is the measurement, processing, and communication of financial and non-financial information about economic entities such as businesses and corporations.
Accounting standards are authoritative financial reporting standards that serve as the primary source of generally accepted accounting principles (GAAP).How to recognize, measure, present, and disclose transactions and other events in financial statements is outlined in accounting standards.
Hence, the correct answer is "C" option.
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