John Prentice is one of two general managers of Cogrot Inc His salary is $75,000 per year. Because of financial reverses, Prentice's position is eliminated and he is offered a job with Cogrot as a salesperson at a salary of $60,000 per year
Prentice refuses. Which of the following is true?
A) The offer of a job as a salesperson was constructive dismissal.
B) The offer of a job as a salesperson was a reasonable response by the employer to its financial circumstances, and Prentice must accept it.
C) Prentice must accept the new position as part of his duty to mitigate.
D) Because of the offer of an alternative position, there has been no dismissal.
E) Both B and C
A
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Summit Financial Advisors provides accounting and finance assistance to customers in the retail business
Summit has four professionals on staff and an office with six clerical staff. Total compensation, including benefits, for the professional staff run about $731,000 per year, and it normally has about 8,500 billable hours per year. The professional staff keep detailed time sheets organized by client number. The total office and administrative costs for the year are $561,000. Summit allocates office and administrative costs to clients monthly, using a predetermined overhead allocation rate based on billable hours. During July, Summit's professionals spent 41 hours on their client. What is the total amount of cost that Summit will record for the client for the month? (Round any intermediate calculations to the nearest cent, and your final answer to the nearest dollar.) A) $3,526 B) $2,706 C) $1,292,000 D) $6,232
The economic profit generated by a company is its ________
A) (capital x cost of capital) / net profit B) net profit / (capital x cost of capital) C) net profit + (capital x cost of capital) D) net profit - (capital x cost of capital) E) (capital x cost of capital) - net profit