RAMPS Company terminated the employment of the salesman Dani for financial reasons. Within 6 months, RAMPS financial standing has improved and the firm decided to recruit a salesman again. Thus, it is legally required to return Dani again if he is still unemployed. * O True False

RAMPS Company terminated the employment of the salesman Dani for financial reasons. Within 6 months, RAMPS financial standing has improved and the firm decided to recruit a salesman again. Thus, it is legally required to return Dani again if he is still unemployed. * O True False

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

See similar textbooks

Related questions

Q: Ms. Aezhel Joy Villa is holding a United States of America passport and is traveling to TelAviv,…

A: The travel documents needed by her are discussed as follows

Q: May and Ray have spent years repairing Volkswagens, and have become very knowledgeable in Volkswagen…

A: In the given scenario, it is evident to say that both May and Ray are highly experienced in…

Q: Is zero investment in store is possible? 1-True 2-False

A: Zero investment: Zero investment portfolio is a portfolio related to finance. When the resulting net…

Q: Companies take a physical count of inventory at the end of the accounting period. Taking a physical…

A: At the end of an accounting period, the company calculates the rest of the inventory to check if…

Q: Adam convinced his customer to buy the most expensive couch in his store so that he could receive a…

A: Buyer's remorse refers to a scenario whereby the consumer develops a feeling of regret after…

Q: ‘Kashundi Restora’ is currently in need of money and they have applied for a bank loan which they…

A: Every country has different banking and financial situations in order to provide the funds to give…

Q: Business Operating expenses are recorded in: Trading Account Profit and Loss Account Balance Sheet…

A: Net earnings of a business can be identified by preparing a Profit and loss account. It consists of…

Q: Statement 1 – For providing higher service levels an organization must hold higher levels of…

A: 1. The service level is the expected possibility of not having a stock-out. As a result, the target…

Q: De Mar, a plumbing, heating, and air-conditioning companylocated in Fresno, California, has a simple…

A: This organization has an administration-related business, and its item is an administration item,…

Q: categorized as standing plans. O True O False

A: Policies are comprehensive guidelines as to how the purposes of a business are to be accomplished.…

Q: 21) Which of the following is not popular in the present business scenario? a. Balance sheet b.…

A: Operational productivity measure is a measure to calculate how efficiently inputs are converted into…

Q: .Nestle Pakistan Limited is Known example of. A)Merchandise B)Whole seller C)Manufacturing…

A: Answer: 1) Nestle Pakistan Limited is Knownexample of manufacturing unit which is basically a…

Q: Which item is the most liquid asset for companies? A:Accounts receivable B:Inventory C:Marketable…

A: Answer is choice D. Cash

Q: Explain backup in detail and assess at least five (5) different backup strategies and the effects…

A: A backup is a duplicate of significant information that is put away on an elective area, so it tends…

Q: stimate the value of a loyal customer of a loyal Volvo automobile owner. Assume the contribution…

A: Customer lifetime value is the value of net profit that can be obtained from a customer during the…

Q: Webber Limited plans to maintain cash balance of $8000. The variance of its daily cash flow to date…

A: Given information - Maintain cash balance = $8000 Variance of daily cash flow to date= $4,000,000…

Q: A company you work for has recently applied for financial aid from the National Board of Small Scale…

A: The above case describes a situation where an owner of the firm who applied for financial assistance…

Q: Are Martha’s unreimbursed medical expenses deductible on the Neals’ tax return? Why or why not?

A: Disclaimer: insufficient information regarding the context As for the unreimbursed medical expenses…

Q: The basic idea of a business that explains which customer needs will be met, how the functions and…

A: It is totally true that the basic idea of a business is that explains as to how the customer needs…

Q: If a firm shows a net accounting income then it will not have a cash flow isue not have problem…

A: Accounting income is the income derived after the deduction of all the expenses from the sales…

Q: Question: 1. Has Zoom user made the right decision? Yes/ No/ Why? 2. Using the correct…

A: INTRODUCTION: Workplace personal conflicts are a common problem that can happen anywhere. Even…

Q: You are the owner of DDD Company. The company is engaged in providing services to telecommunication…

A: The company should first collect the account receivables before taking on any new projects.

Q: ABC Company placed an order on December 1. It normally receives the order after 9 days. If the…

A: The reorder point is the level reached at which the order is placed to replenish the inventory…

Q: the statements concerning reasons to hold inventory are true Except: To meet variations in demand To…

A: Inventory refers to the stock held by a business that it intends to sell either as is or after…

Q: Find the optimal strategies for both the firms. XX = last two digits of your roll no.

A: THE ANSWER IS AS BELOW:

Q: Which of the following cannot be considered a benefit of implementing HACCP?-increase in quality…

A: HACCP schooling and high turnover of workers and on farm it might build the disinfection and…

Q: From the viewpoint of the buyer, a business form prepared by the seller that lists the items…

A: An invoice is defined as an important document that indicates the sale or supply by one busines to…

Q: Cash flow Statement ‏Cash Flow Statement for the first Years

A: Cash flow is the transactions in and out of account.

Q: are where you get down to business and enter data in a worksheet O None of the above O Cells O…

A: The question is related to Microsoft Excel. The file in which different data is entered, stored, and…

Q: Better Days Ahead, a charitable organization, has a standing agreement with First National BankThe…

A: The survival of charitable organization is depend upon the cooperation of many factors. Here the…

Q: Q.1 Zachtech is a multinational company known for developing quality software products. For the past…

A: The organization is facing some trouble in generating revenue mainly due to its inability to manage…

Q: The share price of PUBG Bhd. increased 10% right after the company declared the highest dividend…

A: The distribution of a part of a company's earnings to its shareholders is known as the dividend. The…

Q: Identify an organization that could benefit from the application of the I/O MODEL OF ABOVE-AVERAGE…

A: Below is the solution:-

Q: A food store in a shopping festival is an example of which type of retail store? a. Fixed location…

A: A retail store is a place that is operated by a retailer. It may also be owned and operated bythe…

Q: In a store chain, all individual stores can report positive margins, but the entire company still…

A: In a store chain, all individual stores can report positive margins, but the entire company still…

Q: Angela, the bank employee, approaches Justin, the bank manager and says: “My daughter is seeking…

A: **Since you have asked multiple questions, we will solve the first question for you. If youwant any…

Q: OWTH. a. True. b. False.

A: Small and Medium-Sized Enterprises (SMEs)

Q: An organization’s mission is the means by whichit fulfills its purpose.True or False

A: The business management is part of administration work that includes planning, organizing, leading…

Q: Which of the following is not true in terms of contributing positively to the business model of…

A: Leasing refers to a contractual agreement in which one party leases an asset to another party. It…

Q: profit, net assets, return on investment return on investment, net assets, cash flow gross income,…

A: Financial performance is a subjective assessment of how effectively a company can utilize and…

Q: s can happen because cash flow and earnings potential, both commonly known as cows and dogs,…

A: Definition: cash Cow is during all|one amongst|one in every of} the four training beneath neath the…

Q: Unemployment insurance automatically stimulates the economy during an economic contraction, which is…

A: Unemployment insurance refers to the benefits a person can avail if he has unfortunately lost his…

Q: Which of the following is to be considered as a short-term source of finance for a company? a. Bank…

A: A business gets its finance from various forms like equity, debt, term loans, retained earnings,…

Concept explainers

Budgets

A budget is the sum of the amount allocated for a specific purpose and the summary of expected expenses with a plan to meet them. In general, the word 'budget' is used for the financial planning of an individual or an organization for their estimated income and spending.

Question

RAMPS Comnpany terminated the employment of the salesman Dani for financial
reasons. Within 6 months, RAMPS financial standing has improved and the firm
decided to recruit a salesman again. Thus, it is legally required to return Dani
again if he is still unemployed. *
O True
O False

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, management and related others by exploring similar questions and additional content below.

Similar questions

none of the above 17 18 Question 25 (1 point) ✔Saved 20 20 21 2 23 25 ✓ 24 24 Quiz Information @ 2 # * $ 3 4 Which of the following is not one of the Bardal Factors affecting the length of common law notice to which an employee would be entitled upon termination of employment? Age Length of Service Position of the Employee All of the above are Bardal Factors Submit Quiz 25 of 25 questions saved = e ZM f6 f5 Jo 5 6 & 7 IN hp ao f8 f9 KA f10 f11 f12 ins prt sc * 8 9 delete 奶 backspace W E R T Y U O P [ S D F G H J K X C V B N Σ アド L- 1 pause alt ctri < に

! Required information [The following information applies to the questions displayed below.] Doyle Company issued $394,000 of 10-year, 7 percent bonds on January 1, Year 1. The bonds were issued at face value. Interest is payable in cash on December 31 of each year. Doyle immediately invested the proceeds from the bond issue in land. The land was leased for an annual $79,500 of cash revenue, which was collected on December 31 of each year, beginning December 31, Year 1. Required a. Prepare the journal entries for these events, and post them to T-accounts for Year 1 and Year 2. Complete this question by entering your answers in the tabs below. Req A1 Req A2 Prepare the journal entries for Year 1 and Year 2. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list View journal entry worksheet No Date General Journal 1 Jan 01 Bonds payable Cash Debit Credit
matching.
On December 31, 2019, the unadjusted trial balance of Tarzwell Services showed the following balances: Accounts receivable Allowance for doubtful accounts Sales $200,000 1,000 Cr. 700,000 The business has given up trying to collect $5,000 of its accounts receivable but has not yet recorded the write-off entry. The firm uses the allowance method to estimate bad-debt expense. Required a) Provide the entry for the write-off. b) If the firm uses the percent-of-sales allowance method for recording bad-debt expense, and has experienced an average 6% rate of non-collection based on sales, provide the entry to record bad-debt expense for 2019. c) Assume that after the firm recorded the $5,000 of write-offs, it determined that 18% of its remaining accounts receivable will be uncollectible under the aging method. Provide the entry to record bad-debt expense. Don't give answer in image format
470 q 12 which of the following is not a factor under the free cash flow to equity model? a. depreciation expense b. capital expenditure c. change in working capital d. principal debt repayment e. earnings multiplier
No notice to terminate is required for a tenancy for years. O True O False
CHECK FIGURE: d. Accounts receivable (net) = $232,700 Selected unadjusted account balances at December 31, 2023, are shown below for Demron Servicing. Accounts receivable... Allowance for doubtful accounts.... Account Debit $70,000 Credit $ 1,100 480,000 Sales (all on credit). Sales discounts.. Required 8,000 a. Demron estimates that 1.5% of net credit sales will prove to be uncollectible. Prepare the adjusting entry required on December 31, 2023, to estimate uncollectible receivables. b. During 2024, credit sales were $620,000 (cost of sales $406,500); sales discounts of $12,000 were taken when accounts receivable of $440,000 were collected; and accounts written off during the year totaled $10,000. Prepare the entries for these transactions. c. Record the adjusting entry required on December 31, 2024 to estimate uncollectible receivables, assuming it is based on 1.5% of net credit sales. d. Show how accounts receivable would appear on the December 31, 2024, balance sheet. Analysis…
Mavis Company's net income was $45, 000 in 2020. Mavis reported an increase in accounts payable of $ 6,000, an increase in Inventory of $2,000, depreciation expense of $3,000, and payment for purchase of equipment of $8,000. What was Mavis's net cash provided (used) by investing activities? a. $52,000 provided b. $8,000 used c. $15,000 used d. $8,000 provided What was Mavis's net cash provided (used) by financing activities? a. $60,000 provided b. $ 60,000 used c. $10,000 provided d. $50,000 provided
82) Which of the following is an example of an action done by a firm to conduct structuring? a) Stock buy-back b) Leveraged buy-out c) Either A and B d) Neither A nor b
James sold his home for $379,000. If the real estate commission was 5.5%, how much commission did he have to pay? O $20,845 to the listing broker. O $10,422.50 to the listing broker and $10,422.50 to the selling broker. O $45.845 to the listing agent. O $20.845 to the buyer's broker.
Marvelous Music provides music lessons to student musicians. Adjusting entries are performed on a monthly basis. An unadjusted trial balance dated December 31, 2020, follows. (Bear in mind that adjusting entries have already been made for the first 11 months of 2020, but not for December.) Prepare the necessary adjusting entry. Prepare an adjusted trial balance. An unadjusted trial balance is given below. MARVELOUS MUSIC UNADJUSTED TRIAL BALANCE DECEMBER 31, 2020 Cash . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .15,800 Accounts receivable. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2,100 Unexpired insurance. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,200 Prepaid rent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6,000 Sheet music supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .…
Q1. Discuss the restriction imposed by the Companies Act 2016 on a member’s right tovote. In addition, explain the voting by a show of hands and voting by poll under each circumstance during a company general meeting.