An insurance broker receives a monthly salary of $3,460, plus a commission of 10.5% on all sales. Compute total pay for a month in which he sold $80,965 worth of insurance policies
$80,965 × 0.105 = $8,501.33; $8,501.33 + $3,460 = $11,961.33
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Answer the following statements true (T) or false (F)
1. The dividend payout ratio measures the annual dividend per share as a proportion of the market price per share. 2. Unexpected or inconsistent movements among sales, merchandise inventory, and receivables reflect normal market conditions and do not pose red flags in financial statements. 3. inventory turnover is too slow, a company may be unable to sell goods or it may be understating merchandise inventory. 4. If the debt ratio is too high, the company may be unable to pay its debts.
Accrual accounting attempts to solve which income measurement issue?
a. Periodicity issue b. Matching issue c. Recognition issue
Title VII of the Civil Rights Act prohibits discrimination on the basis of race, color, religion, sex, or national origin.
Answer the following statement true (T) or false (F)
Rogers was induced by fraud to sell a car to Sutter. Sutter resold the car to Andrews, who did not know of the fraud. Was Rogers entitled to void the sale and recover the car from Andrews?