The major difference between an order-taking salesperson and an order-getting salesperson is based on _____
a. the degree to which a salesperson informs and persuades customers
b. the method of compensation
c. who pays the salesperson
d. the salesperson's experience
a
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The Oakland Scavenger Company case is profound to owners of family businesses in that
a. conceivably, the owner can be sued for not giving equal treatment to a son as to a daughter. b. conceivably, the owner can be sued by an employee of a different ethnic origin based upon not being accorded the same treatment as a son or daughter. c. conceivably, the owner can be sued for not declaring a family member his or her successor. d. the owner can be fined for not declaring his or her first son the heir to the business.
Jurisdiction M imposes an individual income tax based on the following schedule. RateIncome bracket5%$-0- to $50,000+ 8%$50,001 to $200,000+ 12%$200,001 and above Ms. Owen has $314,000 taxable income. Compute the tax on this income.
A. $37,680 B. $28,180 C. $29,680 D. None of the choices are correct.
A U.S.-based company, Stewart, Inc., arranged a 2-year, $1,000,000 loan to fund a project in Mexico. The loan is denominated in Mexican pesos, carries a 10.0% nominal rate, and requires equal semiannual payments. The exchange rate at the time of the loan was 5.75 pesos per dollar, but it dropped to 5.10 pesos per dollar before the first payment came due. The loan was not hedged in the foreign exchange market. Thus, Stewart must convert U.S. funds to Mexican pesos to make its payments. If the exchange rate remains at 5.10 pesos per dollar through the end of the loan period, what effective interest rate will Stewart end up paying on the loan?
A. 10.36% B. 11.50% C. 17.44% D. 20.00% E. 21.79%
Deductions are expenditures that can be subtracted in calculating taxable income. Which of the following is a deduction?
A) Dependency exemption B) Credit card interest C) Interest on municipal bonds D) Donations to charities