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1. CONTRACTING: You are working with a psychiatric patient, Pat, who is at risk of committing suicide. Your suicide prevention model suggests that you negotiate a "safety plan" with the client (e.g., Pat will stay with a friend overnight; you will contact the friend by phone to provide the friend with instruction about what to do in case of emergency, Pat will call the 24-hour crisis line if Pat starts to think about committing suicide; Pat will meet with you tomorrow to make further plans). Should this agreement be implicit, explicit and oral, or written? What are the advantages and disadvantages of each type of agreement? Do you or Pat require legal advice before finalizing this agreement? Why or why not? Is this agreement a legally binding agreement? What are the consequences if either one of you breaks the agreement? (3)
This contracting agreement should begin with oral then followed by a written agreement reflecting the oral agreement. An implicit agreement is a nonbinding but sincere commitment. "The explicit agreement is a contract in which the terms and requirements on all involved parties are clearly stated in writing, agreed upon, and signed by all participants. Explicit contracts are generally used in formal business agreements, financial transactions, sales of property and other high-value assets, and other situations where significant value or obligations apply. The explicit agreement is just the opposite of implied or implicit contracts" (Business, 2012, p. 1)
Financial statements are a product of the accounting cycle. Think about two different companies: a manufacturing company, and a retail company.
Prepare a classified statement of financial performance for 2012 and 2013 and prepare a classified statement of financial position for 2012 and 2013
The 39 percent and 38 percent tax rates both represent what is called a tax "bubble." Suppose the government wanted to lower the upper threshold of the 39 percent marginal tax bracket from $335,000 to $212,000. What would the new 39 percent bubble ra..
american constitutionfollowing the revolutionary war and separation from england the need for a new government was
the company is planning to acquire a new machines at a total cost of 600000. the machines estimated useful life is 7
Suppose the Quick Towing Company purchases a new tow truck. The old truck had a book value of $1,000 and was sold for $1,420. If Quick Towing is in the 34 percent marginal tax bracket, what is the tax liability on the sale of the truck?
an investor took out a loan of 150000 at 8 compounded quarterly to be repaid over 10 years with quarterly payments of
a company is considering purchasing a machine for 21000. the machine will generate an after-tax net income of 2000 per
You own a bond with a face value of $10,000 and a conversion ratio of 450. What is the conversion price?
Managers of Wheldon Manufacturing are analyzing variable overhead variances for the fiscal period just ended. The flexible budget called for $80,000 in variable overhead but actual variable overhead was $95,000.
Each unit requires 20 minutes of direct labor. If 13,200 units were produced, what was the fixed overhead spending variance?
zanny electronics companyuses a standard cost system to collect costs related to theproduction of its water ski radios.
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