Calculate the net commission from the following information: Particulars OMR Particulars OMR Salary 12,000 Commission on 30,000 reinsurance ceded Commission on direct 85,000 Commission on 15,000 business reinsurance business Net Commission OMR 82,000 OMR 70,000 OMR 112,000 OMR 100,000

Calculate the net commission from the following information: Particulars OMR Particulars OMR Salary 12,000 Commission on 30,000 reinsurance ceded Commission on direct 85,000 Commission on 15,000 business reinsurance business Net Commission OMR 82,000 OMR 70,000 OMR 112,000 OMR 100,000

Auditing: A Risk Based-Approach (MindTap Course List)

11th Edition

ISBN:9781337619455

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter5: Professional Auditing Standards And The Audit Opinion Formulation Process

Section: Chapter Questions

Problem 9RQSC: Assume that an organization asserts that it has $35 million in net accounts receivable. Describe...

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Concept explainers

Real Estate

Real estate means ownership of land along with the assets and natural resources that exist on the land. These properties are in real/physical form which is tangible. Real estate simply means land or addition made to land permanently like constructing a residence or different buildings. People invest in real estate to either reside or for wealth creation. Many people investing in real estate further lend the place for occupation or businesses in return for a monthly payment.

Question

Calculate the net commission from the following information:
Particulars
OMR
Particulars
OMR
Salary
12,000
Commission on
30,000
reinsurance ceded
Commission on direct
85,000
Commission on
15,000
business
reinsurance business
Net Commission
OMR 82,000
OMR 70,000
OMR 112,000
OMR 100,000

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