Vinny, Inc has an incentive compensation plan under which the sales manager receives a bonus equal to 1 . percent of the company's income after deductions for bonus and income taxes. Income before bonus and income taxes is $400,000 . The effective income tax rate is 30 percent. How much is the bonus (rounded to the nearest dollar)?
a. $40,000
b. $30,108
c. $28,000
d. $26,168
D
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Which of the following statements is true?
A. Different stock indexes normally show the same total returns. B. Stock indexes do not provide information on dividends. C. Mutual funds encourage investors to invest in the same security instead of diversifying. D. The S&P 500 is an example of a mutual fund.
Consider Figure 5.6. In the global market for wine, the EU is willing to supply as much wine as the U.S. demands at $8 per bottle. If the U.S. imposes a quota of 15 bottles of wine, how much revenue will the U.S. government collect?
a. 0 b. $35 c. $70 d. $105
If factory overhead applied exceeds the actual costs, overhead is said to be underapplied
Indicate whether the statement is true or false
Which of the following standards are related to the operation of a PAD?
a. X.3 b. X.28 c. X.29 d. all of the above