A Concise Intro To Logic
12th Edition
ISBN: 9781305147775
Author: Hurley
Publisher: Cengage
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Urban LLC sponsors a profit-sharing plan that requires employees to complete one year of service and be 21 years old before entering the plan. The plan also excludes all commissioned sales people and all other allowable exclusions allowed under the IRC. Which of the following employees could be excluded?
1. Jax, age 20, who works in administration and has been with the company for 32 months.
2. Gemma, a commissioned sales person working in the Houston office. She is 37 years old and has been with the company for 3 years.
3. Clay works as the lead foreman in the company factory. He is 39 and has been with the company for 11 months and is covered under a collective bargaining agreement.
A.
1 and 2.
B.
1, 2, and 3.
C.
3 only.
D.
1 only.
At a recent board meeting of Co., a non-executive director suggested that the company’s remuneration committee should consider scrapping the company’s share option scheme, since the executives could be rewarded by the scheme even when they do not perform well. A second non-executive director had a view that, even when the executives act in ways which decrease the agency problem, they might not be rewarded by the share option scheme if the stock markets were in decline.
REQUIRED: Explain the nature of the agency problem and discuss the use of share option schemes and performance-related pay as methods of reducing the agency problem in a stock-market listed company.
Trisha is head of a team of three accountants at a non-profit agency that strives to promote literacy among inner city teenagers who drop out of high school. Trisha has held this position for over five years. She and her team are recognized as meticulous accountants who produce thorough and detailed financial records. But they generally keep to themselves, having little interaction with others in the agency.
Trisha has the opportunity to travel to Nicaragua and visit three villages. While there, she becomes acquainted with several intelligent children between the ages of 14 and 17 who want to leave their villages to seek educational opportunities and learn skills that will allow them to help others in their villages, hopefully bringing improvements to their lives such as indoor plumbing and electricity for their homes. But these children are illiterate and have little hope of realizing their dreams.
For the first time, Trisha understands the importance of the work that her non-profit…
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