FNSACC601 Quiz 2 - review
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Monarch Institute *
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FNSACC601
Subject
Economics
Date
May 12, 2024
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11
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Which of the following is not an example of a trust?
Select one:
a. None of the answers are correct
b. Property of a deceased taxpayer held on behalf of the
beneficiaries
c. Shares and real estate held jointly by a husband and wife
d. A bank account held on behalf of a child
e. A superannuation fund
Which of the following is true of beneficiaries?
Select one:
a. They are entitled to benefit from the trust property
b. They must be persons
c. They are deemed to be a resident for tax purposes
d. They are liable for all taxes of the trust
e. None of the answers are correct
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Which of the following beneficiaries is not under a legal disability?
Select one:
a. An undischarged bankrupt
b. A 19 year-old engaged in fulltime study
c. A beneficiary who is certified insane
d. None of the answers are correct
e. A 17 year-old engaged in fulltime employment
Which of the following is not an example of an inter vivos trust?
Select one:
a. None of the answers are correct
b. A service trust created to operate a professional practice
c. A unit trust
d. A deceased estate
e. A discretionary trust holding investments on behalf of a family
The Trustee of an inter vivos trust retains $10,000 of trust net
income to which no beneficiary is presently entitled. Which
section(s) of the 1936 ITAA applies to assess the Trustee on this
amount?
Select one:
a. Section 98
b. Section 99 or 99A
c. None of the answers are correct
d. Section 97A
e. Section 98A
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In legal terms, a trust is a relationship not a legal entity
Select one:
True
False
The person who creates a trust is the:
Select one:
a. Trustee
b. Settlor
c. Trust estate
d. Beneficiary
A trustee may be a company or a natural person.
Select one:
True
False
A beneficiary has to be a natural person. A company or a trust
cannot be named as a beneficiary.
Select one:
True
False
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Question 11
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A sole trustee can be a beneficiary of a trust as long as they are not
the sole beneficiary of the trust.
Select one:
True
False
A trustee has legal title to trust property and can derive benefits from
that property.
Select one:
True
False
In a discretionary trust, the trustee has discretionary powers to vary
income and capital distributions to the beneficiaries each year.
Select one:
True
False
In a fixed trust, the trustee has authority to vary proportions of the
trust estate which the beneficiaries receive.
Select one:
True
False
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Related Questions
Just part D please, I included how I did the first 3 just need help with last! Thank you!
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S LO
20
# 3
PRICE (Dollars per hot dog)
5.
History Bookmarks People Tab
Window Help
令) 71%
Mind Tap - Cengage Learning
/index.html?deploymentld%359828119415547787292595253&elSBN=9780357133606&id%3D1069413986&snapshotid%-D2211990&
* CENGAGE MINDTAP
Q Search this course
Homework (Ch 15)
5. Monopoly outcome versus competition outcome
Consider the daily market for hot dogs in a small city. Suppose that this market is in long-run competitive equilibrium with many hot dog stands in the
city, each one selling the same kind of hot dogs. Therefore, each vendor is a price taker and possesses no market power.
The following graph shows the demand (D) and supply (S = MC) curves in the market for hot dogs.
%3D
Place the black point (plus symbol) on the graph to indicate the market price and quantity that will result from competition.
Competitive Market
+.
4.5
PC Outcome
3.5
3.0
2.5
S=MC
1.5
0.5
D.
120
140
160 180
09
QUANTITY (Hot dogs)
40
PI
MacBook Air
DA
DD
F8
F6
F5
F4
F2
%24
6.
7.
8.
9-
4.
2.
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Note: Plot your polnts In the order In which you would like them connected. Line segments will connect the polnts automatically.
200
175
ATC
150
125
AVC
100
MC
50
25
1
3
4
6
QUANTITY (Pairs of boots)
Grade It Now
Save & Continue
COSTS (Dollars per pair)
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please discuss this statement
“Thw technical pattern that statistically significant could be economically insignificant.”
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Bags/Participants
Fixed Cost
Variable Cost
Total Cost
$1,700
$-
$1,700
100
$1,700
$500
$2,200
200
$1,700
इ1,200
$2,900
$1,700
$2,700
$4,400
300
$1,700
$5,200
$6,900
400
$1,700
$9,000
$10,700
500
$16,700
$1,700
$15,000
600
$1,700
$23,800
$25,500
700
$36,800
$38,500
$1,700
800
$55,800
$57,500
$1,700
900
$84,700
$83,000
$1,700
1,000
Given the above information on cost, if you charge $15 per entry, what is the breakeven quantity of bags that you should order? At what quantity of bags
will profits be maximized?
Please select any/all correct answers:
Using Qb = F/(MR - AVC) where Qb is the break even quantity, the event would break even at 283 bags.
%3D
O Using the profit-maximizing rule, MR 2 MC, the quantity of bags that will maximize profits is 200 bags.
O Using the profit-maximizing rule, MR > MC, the quantity of bags that will maximize profits is 300 bags.
O The break even quantity cannot be determined in this case.
«< Question 2 of 9
A Moving to another question will save this…
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300
250
200
150
100
50
$
TC
30. The minimum Average Variable Cost is
(a) $4
(b) $5
(c) $10
(d) $12
TVC
TFC
0
Q
0 2 4 6 8 10 12 14 16 18 20
30
25
20
15
10
5
SA
$
0
0 2 4 6 8 10 12 14 16 18 20
MC
AC
AVC
AFC
Q
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Bags/Participants
Fixed Cost
Variable Cost
Total Cost
0
$1,700
$ -
$1,700
100
$1,700
$500
$2,200
200
$1,700
$1,200
$2,900
300
$1,700
$2,700
$4,400
400
$1,700
$5,200
$6,900
500
$1,700
$9,000
$10,700
600
$1,700
$15,000
$16,700
700
$1,700
$23,800
$25,500
800
$1,700
$36,800
$38,500
900
$1,700
$55,800
$57,500
1,000
$1,700
$83,000
$84,700
Given the above information on cost, if you charge $15 per entry, what is the breakeven quantity of bags that you should order? At what quantity of bags will profits be maximized?
A
Use the profit maximizing rule, MR ≥ MC, buy 300 bags.
B
Use the profit maximizing rule, MR ≥ MC, buy 200 bags.
C
Use Qb = F/(MR-AVC) where Qb is the breakeven quantity to be determined, the optimal quantity of bags is 300.
D
Use Qb = F/(MR-AVC) where Qb is the breakeven quantity to be determined, the optimal quantity of bags is 200.
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The following table lists the components needed to assemble an end item, lead times (in weeks), and quantities on hand.
Item
Lead Time
Amounton Hand
Direct Components
End
1
0
L(2), C(1), K(3)
L
2
10
B(2), J(3)
C
3
15
G(2), B(2)
K
3
20
H(4), B(2)
B
2
30
J
3
30
G
3
5
H
2
0
Click here for the Excel Data File
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Please show step by step solution
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