What is a tax? (0.5 points) is a financial obligation that a person or company is required by law to pay to the government 2. What is the Internal Revenue Service? (0.5 points) is the government agency in charge of administering federal taxes. 3.
(0.5 points) The Internal Revenue Service is responsible for collecting taxes and interpretation and enforcement of the Internal Revenue Code. 3. What is the capital gains tax? (0.5 points) The capital gains tax is a tax that applies to investments and other personal property. 4.
Name __David Crisp______4/15/2015____________________________Section 5 Study Questions (9.0 points) Answer each question fully. Complete sentences are not necessary. Lesson 1 (3.0 points) 1. What is credit? (0.5 points) Credit is commitment to pay for something in the future, instead of paying for it right away.
4. What is the Better Business Bureau? (0.5 points) A organization that reports on the reliability and ethics of companies and other organizations. 5. What is a debt settlement program?
What is an insurance claim? (0.5 points) employee of an insurance company who is responsible for verifying insurance claims. Lesson 2 (3.0 points) 1. Name at least two types of disability insurance. (1.0 points) Workers' compensation, Veterans' benefits 2.
d. List at least four operating costs your business might have. (1.0 points) Rent Utilities Inventory Payroll e. Consider the industry of your company and the current economy, and then explain how these factors might impact your company’s sales. If you do not think these factors would impact your sales, explain why they wouldn't. (2-4 sentences. 2.0 points) f. If you had $5,000 to start this company, which department would get the most funding?
Assuming that 2007 is a typical year for KimTech, in terms of profitability and compensation practices, evaluate the reasonableness of Kim's compensation package in light of the five factors enumerated in the Elliotts case. If audited by the IRS, will Kim's compensation be deemed reasonable? Why or why not? What can KimTech do to show that Kim's compensation is reasonable? The five factors under Elliotts case are (1) the employee's role in the company; (2) a comparison of the employee's salary with those paid by similar companies for similar services; (3) the character and condition of the company; (4) potential conflicts of interest; (5) evidence of an internal inconsistency in a company's treatment of payments to employees.”… http://ftp.resource.org/courts.gov/c/F3/221/221.F3d.1091.99-70164.html If audited by the IRS I think Mr. Kim's compensation would be deemed unreasonable.
Managerial Decision-making using Financial Ratios MGMT640 Managerial Decision-making using Financial Ratios Abstract: Background: Financial statements allow stockholders and management to determine the financial health of a business. Using ratio analysis businesses can gain a snapshot of their durability compared to other companies within their industry. Managerial decision-making skills are a direct correlation on the financial wealth of a business, and can identify strengths and weakness within an organization. Results: Quantitative results are shown though using financial ratios and financial statements. The financial ratios can be divided between five core categories.
How can different sources of funds help a business achieve its financial objective? Businesses usually have five main financial objectives. They are efficiency, growth, solvency, liquidity and profitability. Sourcing different sources of funds and interdependence with other key business functions (operations, marketing and human resources) is the way that businesses achieve these goals. It is important that these funds match their needs, for example, short-term funds to match short-term goals.
Agency problems. Who owns a corporation? Describe the process whereby the owners control the firm’s management. What is the main reason that an agency relationship exists in the corporate form of organisation? In this context, what kinds of problems can arise?