Portia Grant is an employee who is paid monthly. For the month of January of the current year, she earned a total of 9238. The FICA tax for social security is 6.2% of the first $128,400 of employee earnings each calendar year and the FICA tax rate for Medicare is 1.45% of all earnings. The FUTA tax rate of 0.6% and the SUTA tax rate of 5.4% are applied to the first $7000 of an employee's pay. The amount of federal income tax withheld from her earnings was $1532.87. Her net pay for the month is: (Round your intermediate calculations to two decimal places.)
A. $6566.00
B. $5033.13
C. $6998.42
D. $7571.18
E. $6564.42
Answer: C
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A ________ is a negotiable instrument issued by a bank that represents a foreign company's publicly traded securities and that, in turn, is traded on a local securities exchange
A. bill of exchange B. banknote C. promissory note D. depository receipt
Ollie's Orchards has dealt for many years with Trixie Coppola, who owns a catering company that specializes in desserts. He always bills her on a net 30 days basis
Ollie has just loaded a $5,000 shipment of grapes for Trixie onto the truck, when he receives a call from Frank's Fruit farms. Frank tells him that Trixie is months overdue on her accounts with him, and that he's also heard a rumour that Trixie is about to go "belly up". Which of the following statements is FALSE? A) Trixie has done nothing that would allow Ollie to rescind the contract. B) Ollie can hold the goods until payment is made. C) Ollie can stop delivery on the basis that Trixie is insolvent D) If Ollie stops delivery and Trixie is not insolvent, he will have to pay her damages for any loss she suffers as a result. E) None of the above.
A company not involved in manufacturing that brings together buyers and sellers in different countries is usually referred to as a
A. franchise. B. contract manufacturer. C. strategic intermediary. D. trading company. E. joint venture.
Which of the choices below is FALSE?
A) When issuing a putable bond, the firm anticipates that interest rates will rise over the life of the bond. B) When issuing a callable bond, the firm anticipates that interest rates will fall over the life of the bond. C) When issuing a callable bond, the firm anticipates that interest rates will rise over the life of the bond. D) A putable bond is essentially the reverse of a callable bond.