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Problem 1: Peyton and Nathan are newly married and expecting their first child. They approach their friend Lucas, who is a newly licensed insurance agent, with some complex financial planning questions. Lucas realizes that the questions are beyond his scope of expertise but, because the couple are close friends, he really wants to help and provide the answers they need, regardless if they purchase product from him. He uses his firm's financial planning software and attempts to answer their questions to the best of his ability. Which of the statements about Lucas' actions is CORRECT?
a) Lucas has breached his duty of competence.b) Lucas has not properly managed a conflict of interest.c) Lucas has acted within the code of conduct.d) Lucas has breached his priority of client's interest duty.
Ellie purchases an insurance policy on her life and names her brother. Jason, as the beneficiary. Ellie pays $32,000 in premiums for the policy during her life. When she dies, Jason collects the insurance proceeds of $500,000. As a result, how much g..
Premier Products, Inc. manufactures tennis rackets. Premier Products has grown extensively over the past two years. While the company has been very profitable, President Mark Harrison is concerned with its ability to cost products accurately. Some pr..
alpha corp. manufactures video games that it sells for 36 each.nbsp the following data is available for the months of
Kayla also took out a two-month loan for $40,000 on October 1 at 7%. How much is interest expense on the 12/31 year-end Income Statement?
how much will you have in the account in 5 years? In 10 years? In 20 years and Calculating Annuity Future value.
The joint operation's profit was P420. B took the unsold inventory costing P30. Compute the balance in Joint Operation account before distribution of profit
A warehouse was damaged in a storm. The warehouse was worth $225,000 before the casualty and $65,000 after the casualty. The taxpayer's adjusted basis in the warehouse was $77,000. The insurance company reimbursed the taxpayer $150,000 for its loss.
to classify costs associated with manufacturing firms merchandising firms or service firms as 1product or period costs
The total amount collected during May (price of the goods sold plus the sales tax collected) was $745,350. Make the journal entry to record the sales for May
The Churchill Company issued a 25-year bond five years ago with a face value of $1,000. What is the price today
You are assured to earn an effective monthly rate of 1% on money deposited in your account. Your monthly payments should be
Explain how financial target setting can motivate employees within an organisation. Provide two examples to justify your answer.
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