Freddie has been assessed a preparer penalty for willful and reckless conduct. When he completed Peggy’s Federal income tax return, he purposely omitted $100,000 of cash receipts that should have been reported as gross income. Freddie charged Peggy $4,000 to prepare the return. What is Freddie’s preparer penalty?
A. $-0- because Peggy incurred her own understatement penalty for the return.
B. $2,000
C. $4,000
D. $5,000
Answer: D
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Fez is trying to motivate his sales staff. He holds a staff meeting to explain his plan. He realized that in order for the plan to work, he needs to make sure that his team expects that their hard work will result in an increase in sales; he needs to reassure the team that meeting their sales targets will result in their receiving a percentage of their sales; and he hopes that the team will value the opportunity to make more money and see the advantages of working closely as a team. Relate Fez’s experience to the three elements of expectancy theory and explain.
What will be an ideal response?
A retailer has anticipated yearly expenses of $300,000, a net profit objective of $72,000, planned reductions of $24,000, and planned net sales of $1,000,000 . What is its required initial markup percentage?
a. 30.0 b. 37.2 c. 38.7 d. 39.6
Marshall is the purchasing agent for DigitoolArt Corporation. His job requires him to negotiate and execute contracts for purchasing office supplies and equipment for the corporation
Assume that Bronson, a computer salesperson, pays Marshall a $20,000 kickback to purchase from him computers needed by DigitoolArt Corporation. Which of the following duties of loyalty has Marshall breached in this scenario? A) competing with the corporation B) making a secret profit C) self-dealing D) usurping a corporate opportunity
Suppose a U.S. treasury bond will pay $1,050 five years from now. If the going interest rate on 5-year treasury bonds is 4.25%, how much is the bond worth today?
A. $852.72 B. $878.31 C. $750.40 D. $656.60 E. $673.65