Merchandise is sold on account for $3,500, and the sale is subject to sales tax of $175 . The sales account should be credited for
a. $0; b. $175;
c. $3,500; d. $3,675; e. cannot be determined from information given
C
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In many American and Western cultures, the mindset is often that problems should be solved ______.
a. if they can be (solved) b. as quickly as possible c. when the people who know the answers can get there d. someday
Terra Company has two divisions, the Retail Division and the Wholesale Division. The following information was gathered for the two divisions for the current year: Retail Division Wholesale DivisionOperating income$2,500,000 $6,000,000 Operating assets$16,000,000 $36,000,000 Assuming that these are the only divisions of Terra Company, what is the ROI for the company as a whole?
A. 16.3% B. 15.7% C. 16.6% D. 32.3%
In 1991, James McElveen fell 30 feet from a waterfall and broke his back. He was employed by a small business and had no medical insurance. His lifetime friend, Benny Milligan, was with him when the fall occurred. Benny took James to the emergency room
Moved by his friend's severe injuries and pain and suffering and realizing that James did not have insurance, Benny switched IDs with James in the hospital emergency room. James required surgery to fuse his back to avoid what doctors said would have been certain paralysis. The cost of the surgery and hospitalization was $41,107.45 . Neither James, employed as a mechanic, nor Benny, employed as a painter, could have paid for the surgery and follow-up care. Benny's employer's insurance paid for the surgery because the hospital took the information from Benny's ID found in James' pockets. While Benny was contemplating telling his employer, someone notified the insurance company of the switch. Benny, James, and Benny's wife, Tammy Milligan, were charged and convicted of mail fraud, wire fraud and conspiracy. Tammy, because of the Milligans' three young daughters, is serving her sentence through home confinement, Benny is serving 9 months and James is serving 7 months. All three will serve three years on probation and pay restitution. Benny states, "I know what I did was wrong. But I look back on it, and I feel that I had to do it at the time. I don't feel like I'm a criminal in the sense of rapers, muggers and murderers." Benny said he did not understand that a hospital has an obligation to treat someone who is dying. Friends testified that as they were racing James to the hospital they told Benny that hospitals in the area had routinely refused to provide medical treatment. Benny said he wanted to tell his employer, but he was afraid he would be fired and then be stuck with the bill. Tammy adds that the government is right to demand restitution but wrong to imprison them. James asked the judge if he could go to prison for all three of them, "I would be lost without my friendship with Benny. I probably would be dead." a . Benny and James committed an illegal act. Was it unethical? b. What punishment is appropriate in the case? c. If you were Benny's employer, what would you have done?
If Margie makes out a check for $27.50 when she has only $10 in her account, her bank may:
A) refuse to pay the check. B) pay the check. C) bill Margie for $17.50 and a service charge. D) take any of these actions.