Which of the following is most likely an optional benefit that companies generally offer their employees?
A. Health insurance
B. Workers' compensation
C. Wages
D. Social Security benefits
Answer: A
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Answer the following statements true (T) or false (F)
Finite uniformity should always be used in accounting for complex events.
Depletion is:
A. Calculated using the double-declining balance method. B. Also called amortization. C. An increase in the value of a natural resource when incurred. D. The process of allocating the cost of natural resources to the period when it is consumed. E. The process of allocating the cost of intangibles to periods when they are used.
The federal government's Social Security program, which pays benefits to older members of society but not to younger members of society, is lawful as examined by a(n) ________ test
A) rational basis B) intermediate scrutiny C) investigative challenge D) due process
Spot-Free Car Wash is considering a new project whose data are shown below. The equipment to be used has a 3-year tax life, would be depreciated on a straight-line basis over the project's 3-year life, and would have a zero salvage value after Year 3. No new working capital would be required. Revenues and other operating costs will be constant over the project's life, and this is just one of the firm's many projects, so any losses on it can be used to offset profits in other units. If the number of cars washed declined by 40% from the expected level, by how much would the project's NPV decline? (Hint: Note that cash flows are constant at the Year 1 level, whatever that level is.)
Project cost of capital (r)10.0% Net investment cost (depreciable basis)$60,000 Number of cars washed2,800 Average price per car$25.00 Fixed op. cost (excl. deprec.)$10,000 Variable op. cost/unit (i.e., VC per car washed)$5.375 Annual depreciation$20,000 Tax rate25.0% A. $33,391 B. $35,149 C. $36,999 D. $38,946 E. $40,996