You are conducting interviews for new sales representatives for your manufacturing firm. You are primarily looking for candidates that you feel can be successful at assisting your wholesaling customers sell to their customers. Which of the following types of sales representatives are you looking for primarily?
A. Outside sales force reps
B. Inside sales force reps
C. Trade sales reps
D. Technical sales reps
E. Missionary sales reps
Answer: E
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______ is an influence tactic that relies on unspoken but acknowledged power.
A. Information control B. Ingratiation C. Consultation D. Silent authority
Wilshire purchased equipment at the beginning of 2011 for $19,000. Wilshire decided to depreciate the equipment over a 6-year period using the straight-line method. Wilshire estimated the equipment's salvage value at $1,000. The estimated fair market value at the end of 2011 was $18,000. Which of the following statements is correct concerning Wilshire's financial statements at December 31, 2011?
A) The book value of the equipment is $15,000. B) The book value of the equipment is $16,000. C) The total accumulated depreciation is $3,167. D) The equipment will be reported on the balance sheet at it fair market value of $18,000.
For each of the following tax treatments, explain the application of the income tax concept(s) that form(s) the basis for the treatment.
a.Antonio uses his automobile 60% of the time in his insurance business and 40% of the time for personal purposes. Antonio is only allowed to deduct 60% of the cost of operating the automobile. b.Teresa is a university student majoring in accounting. Teresa became a friend with her neighbor who owns an electronics store. In return for setting up an accounting system for her neighbor's store, Teresa is given an iPod worth $600. Teresa must include the value of the iPod in her gross income. c.Larry bought 300 shares of Shamrock common stock in April for $6 per share. At December 31, Shamrock common stock is selling for $8 per share. Larry does not have to recognize any income from the Shamrock common stock in the current year. d.Allan bought $10,000 par value of 8% Lake City Water Improvement District bonds for $9,200 several years ago. During the current year, Allan receives $400 in interest on the bonds before selling them for $9,600. Allan's only recognized income from the bonds is the $400 gain on the sale of the bonds. e.Anita is an author of history books. In 2018, she signed a contract to write a book on the history of the Tea Party. At that time, she received a $5,000 advance on her royalty payments. The terms of her contract required her to return the advance if she does not complete the book or if her royalties are insufficient to cover the advance. Anita finishes the book in 2018. Anita must include the $5,000 income in her 2018 tax return. What will be an ideal response?
Describe what role social entrepreneurship plays in society.
What will be an ideal response?