Ruiz Company’s budget includes the following credit sales for the current year: September, $158,000; October, $149,000; November, $133,000; December, $170,000. Credit sales are collected as follows: 10% in the month of sale, 60% in the first month after sale, and 30% in the second month after sale. How much cash can the company expect to collect in December as a result of current and past credit sales?
Answers
**The company can expect to collect $166,200 in cash in December as a result of current and past credit sales.**
To calculate the cash collection for December, we need to consider the credit sales from September to December and apply the given collection percentages.
1. September credit sales: $158,000
- 10% collected in September: $15,800 (0.10 * $158,000)
- 60% collected in October: $94,800 (0.60 * $158,000)
- 30% collected in November: $47,400 (0.30 * $158,000)
2. October credit sales: $149,000
- 10% collected in October: $14,900 (0.10 * $149,000)
- 60% collected in November: $89,400 (0.60 * $149,000)
3. November credit sales: $133,000
- 10% collected in November: $13,300 (0.10 * $133,000)
- 60% collected in December: $79,800 (0.60 * $133,000)
4. December credit sales: $170,000
- 10% collected in December: $17,000 (0.10 * $170,000)
Adding up the collections for each month:
$15,800 + $94,800 + $47,400 + $14,900 + $89,400 + $13,300 + $79,800 + $17,000 = $391,400
Since we are interested in the cash collection for December, we consider the amounts collected in December from September, October, and November sales:
$17,000 (December collection from December sales) + $79,800 (December collection from November sales) + $79,800 (December collection from October sales) = $176,600
Therefore, the company can expect to collect $166,200 in cash in December as a result of current and past credit sales.
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Related Questions
Leah is buying a car. She has saved money for a down payment, and she takes out a loan to finance the rest of the amount owed. How much will Leah have to pay back?
A. The principal only
B. The principal minus the down payment
C. The down payment only
D. The principal plus interest
Answers
Answer:
Answer: D
Explanation:
Leah takes out a loan to finance the rest of the amount owed. She will have to pay back the principal plus interest. The appropriate response is option D.
What is the principal ?The principal of a loan is the sum that was initially borrowed and is still owing. Any accrued but unpaid interest related to the loan is not included in this sum. The phrase can also be used to describe the principal party to a contract or other type of commercial transaction.
The principal serves as the cornerstone upon which everything else is paid off or constructed, respectively, for both loans and investment accounts.
When a debt is incurred by the borrowing of money, interest is the sum that is charged. It may take a company or person some time to pay off a debt, so interest is frequently charged on a regular basis to promote prompt repayment of the initial sum.
Simple interest and compound interest are the two methods for calculating interest. Simple interest is calculated on a loan's principal. Compound interest is often referred to as "interest on interest".
Hence, the appropriate response is option D.
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Amortization ______. (Check all that apply.) Multiple select question. is calculated using the straight-line method spreads the cost of intangible assets to expense over their useful lives is used for expensing the cost of land over its useful life is in accordance with the matching principle
Answers
Statement that describes Amortization as regards this question are;
spreads the cost of intangible assets to expense over their useful lives.
is calculated using the straight-line method.
Amortization can be regarded as a process involving writing down the value of either a loan or an intangible asset. Amortization schedules helps in presentation of loan repayment by lenders.Therefore, we can calculate Amortization by utilization of straight-line method.
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Answer:
- spreads the cost of intangible assets to expense over their useful lives
- is in accordance with the expense recognition (matching) principle
- is calculated using the straight-line method
Explanation:
If Frica Morrison a machine operator at Stanley Foundry, makes $513.66 a week and has 33 in FIT withheld, how many allowances has she claimed?
A 0
B 1
C 2
D 3
Answers
Using the Single's Person Weekly payroll distribution , the number of allowances claimed by Frica Morrison will be 3.
Given that :
Weekly pay = $513.66Federal income tax withheld = 33From the payroll table, Frica's weekly pay falls inbetween $510 - $520 ; checking along the row, we can see from the table(attached) that Federal income tax withheld of $33 falls under the 3 allowances claimed.
This means that for Frica to have $33 withheld from his weekly pay of $513.66, then he must have claimed 3 allowances.
Therefore, the Number of allowances claimed by Frica Morrison is 3.
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PLLZZ HELLLP DUE IN 1 MINNNN
Which list of integers is in order from least to
greatest?
A -42, -39, -4, 40, 41
B -42, 41, 40, -39, -4
C -4, -39, 40, 41, -42
D 41, 40, -4, -39, -42
Feel it all so certainly
I can't stop now, I'm in too deep
And I overtake my senses
And I'll never be in jeopardy
(wave lyrics)
Answers
Answer:
A is the correct answer I think hope this helps
Answer:
A
Explanation:
When the lights dim
And we conquer
You start to feel the pull
I can't help but (help but)
Scream out (scream out)
We're unstoppable
Like a wave
Like a wave (Riding on that energy)
Like a wave (Sifting through the memories)
Like a wave
Riding on that energy
Soaking through the memories
I can't hold back
I'm riding on that energy
Ignite the electricity
Cause you haven't seen the last of me
I'm more than just a memory
Push has just begun to pull
I-I-I can't help but (help but)
Scream out (scream out)
We're unstoppable
Like a wave
Like a wave (Riding on that energy)
Like a wave (Sifting through the memories)
Like a wave
Riding on that energy
Soaking through the memories
I can't hold back
Like a wave
Like a wave (Riding on that energy)
Like a wave (Sifting through the memories)
Like a wave
(I can't hold back)
Like a wave (Riding on that energy)
Like a wave (Sifting through the memories)
I can't hold back
a self-employed individual purchased a van for $30,000 on february 1, year 1, for business use. the individual elected to take the section 179 deduction. on january 1, year 3, the individual sold the van for $20,000. what amount must the individual report under section 1245?
Answers
The adjusted basis of the van at the time of sale is zero. Since the sale price of 20,000 is greater than the adjusted basis, the entire amount of the sale proceeds must be reported as ordinary income under section 1245. The individual must report $20,000 under section 1245.
To calculate the amount to be report under section 124, we need to determine the adjusted basis of the Van at the time of sale. The section 179 deduction allows a taxpayer property in the year it is placed in service, up to a certain limit. In this case, the van was purchased for $30,000 and the taxpayer elected to take the section 179 deduction, So the entier cost of the van was expensed in year 1. Therefore, The van has no adjusted basis at the time of sale. The entire amount of the sale proceeds must be reported as ordinary income in accordance with section 1245 because the sale price of 20,000 is higher than the adjusted basis.
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Prepare a short report about the importance of hotel management.
Answers
Answer:
Having a hotel management degree can help you get a lucrative entry position in food or beverage service, accounts, restaurant service, executive housekeeping, marketing, or other departments within a hotel
How is compound interest different from simple interest?
a
Compound interest is when interest is paid on the principal amount only. Simple interest is when interest is paid on the principal amount and on the interest already earned.
b
The money earned from simple interest can only be accessed after 1 year, while you can access the money earned from compound interest at any time.
c
The money earned from compound interest is placed into a separate account, while the money earned from simple interest stays within the same account.
d
Simple interest is when interest is paid on the principal amount only. Compound interest is when interest is paid on the principal amount and on the interest already earned.
Answers
Answer:
Simple interest is when interest is paid on the principal amount only. Compound interest is when interest is paid on the principal amount and on the interest already earned.
Explanation:
Compounding interest refers to adding the interest earned to the principal amount at the end of a financial period. The interest gained becomes part of the principal amount for the following financial period. It means the principal amount increases every year, which results in increased interest earnings.
Simple interest is the interest earned from the principal amount only. If no more deposits are made, then the principal amount will remain the same, and the interest earned will be constant.
michael and qin own real property together. the fact that they are business partners and not married, means that under state law they could not have
Answers
Michael and Qin jointly own real estate. tenancy by entirety and the fact that they are business partners/Could have: death estate a joint tenancy with survivorship a joint tenancy.
Married partners can hold an equal stake in a property and survivorship rights through tenancy by the entirety (TBE), which keeps their assets out of probate. There is not equal ownership. Each spouse has full ownership of the property under TBE.
Joint tenancies and tenancies by the entirety are the two forms of tenancies that have the right of survivorship.
A joint tenancy, in which two or more persons co-own a property, is comparable to a tenancy by the entirety. There is a right of survivorship in both forms of tenancies, which means that upon the passing of one owner, their portion automatically passes to the other renter rather of going through the probate process with their estate.
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Identify whether the following actions or scenarios would likely increase or decrease the natural rate of unemployment. increase natural rate of unemployment : decrease natural rate of unemployment : - Increasing the minimum wage - Extra financial benefits for the unemployed - More funding for government worker training programs - An increase in information about job opportunities
- A large number of young people entering the labor force - An increase in union membership - Reducing workers' collective bargaining rights
Answers
Increasing the minimum wage: Increase natural rate of unemployment - higher wages may lead to fewer job opportunities, as employers may not be able to afford as many workers.
Extra financial benefits for the unemployed: Increase natural rate of unemployment - additional benefits might reduce the urgency to find employment, causing people to remain unemployed longer.
More funding for government worker training programs: Decrease natural rate of unemployment - better-trained workers can find jobs more easily, reducing unemployment.
An increase in information about job opportunities: Decrease natural rate of unemployment - better access to information can help job seekers find suitable positions more quickly.
A large number of young people entering the labor force: Increase natural rate of unemployment - a sudden influx of workers may lead to more competition for jobs, raising the unemployment rate.
An increase in union membership: Mixed effect on natural rate of unemployment - union membership can lead to better job security for members but may also result in fewer job opportunities overall due to higher labor costs.
Reducing workers' collective bargaining rights: Decrease natural rate of unemployment - reducing bargaining power may result in lower wages and, in turn, more job opportunities. However, this may also lead to less job security and lower overall job quality.
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On July 1, Robles Metal Products had a beginning inventory of $505,700. During the quarter, goods costing $290,900 were manufactured. The inventory at the end of September was $485,300. During the quarter, Robles' net sales were $759,200. What was the cost of goods sold for the quarter? What was Robles's gross profit for the quarter?
Answers
Answer:
Instructions are below.
Explanation:
Giving the following information:
beginning inventory= $505,700
Cost of goods manufactured= $290,900
Ending inventory= $485,300
Net sales= $759,200.
To calculate the cost of goods sold, we need to use the following formula:
COGS= beginning finished inventory + cost of goods manufactured - ending finished inventory
COGS= 505,700 + 290,900 - 485,300
COGS= $311,300
Now, we can determine the gross profit:
Gross profit= net sales - COGS
Gross profit= 759,200 - 311,300
Gross profit= 447,900
At what point does an informal agreement become a binding
contract?
When one party makes an invitation and the other makes an offer
O When an offer is made by one party and the other party rejects the offer and makes a
counteroffer
O When one party makes an offer and the other party accepts that offer
O When consideration is provided by one of the parties to the contract
Answers
Answer: When consideration is provided by one of the parties to the contract
Explanation:
Consideration must be given to make a contract legally binding.
if people decide to hold more currency relative to deposits, the money supply
Answers
If people decide to hold more currency relative to deposits, the money supply decreases.
When individuals decide to hold more currency, they are essentially reducing the amount of money available in the economy. This is because currency held outside of banks, such as physical cash, is not considered part of the money supply. Instead, it is categorized as "currency held by the public."
By choosing to hold more currency relative to their deposits in banks, people are withdrawing money from the banking system, which reduces the overall money supply. This decrease in the money supply can have various effects on the economy, such as potentially reducing lending and spending.
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Which skills are most likely to start at birth and develop as a person matures?Planning aides work with _____.
school planners
city planners
federal planners
business planners
Answers
Answer:
im thinking C. or D.
Explanation:
A global strategy is one in which a company performs all of the following tasks, EXCEPT
Select one:
a. employs the same basic competitive approach in all countries where it operates.
b. sells much of the same products everywhere.
c. strives to build global brands.
d. coordinates its actions worldwide with strong headquarters control represents a think-global, act-global approach.
e. uses local brand names to cater to a country's specific needs.
Answers
While a global strategy involves expanding operations across different countries and establishing a strong global brand, it does not involve using local brand names to cater to a country's specific needs. This approach is instead known as a multinational strategy, which involves adapting to local markets' unique needs and preferences to increase acceptance of products and services.
A global strategy involves a company expanding its operations into international markets with the aim of increasing its reach and profitability. A global strategy typically includes four critical tasks, namely: employing the same basic competitive approach in all countries where it operates, selling much of the same products everywhere, striving to build global brands, and coordinating its actions worldwide with strong headquarters control represents a think-global, act-global approach. These tasks are intended to help companies achieve consistency in their operations and establish a strong global brand.
However, a global strategy does not involve using local brand names to cater to a country's specific needs. Using local brand names is referred to as a multinational strategy, which involves adapting to local markets' specific needs and preferences. A multinational strategy allows companies to tailor their products and services to meet local customers' unique requirements, which can lead to greater acceptance of their offerings and a competitive advantage in each market.
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What is the next step after a candidate has cleared all rounds of interviews successfully and needs to be hired?
You should send the candidate a job (Blank) ,which the candidate can accept or reject based on expectations.
Fill in the blank.
It's for Plato
Thanks
Answers
Answer:
offer
Explanation:
A job offer is an invitation for a potential employee here, Plato, to work in a specific position. It will contain the details of the employment offer, including salary, benefits, job responsibilities, and the reporting manager's name and title. The offer letter may also cover the expected work hours, the desired start date, and additional details that are important for the prospective employee to know.
They can be delivered verbally or in writing, and employees can respond by accepting the offer, declining the offer, or negotiating the terms of the offer.
What is the difference between using an action button to play an audio file via 'play sound' and an audio clip set up through the Media Group?
Answers
Answer: The action button lets users play the audio file, the sound button will play an audio clip.
Explanation:
The action button lets users play the audio file once it is clicked or has a mouse over action over the assignment button. The sound button will play an audio clip that you have specified in the action settings dialog box.
is he drinking coke or pepsi ?
Answers
PLEASE HELP QUICKLY: (FIRST ANSWER GETS BRAINLIEST) PERSONAL & FAMILY FINANCE
Ivywood Country Club recently hired Spencer to find additional resources, make major decisions involving membership, and develop ideas for new swag to be sold in the pro shop. What unique skill did the club MOST likely need when they hired Spencer?
capital capacity
labor talent
entrepreneurial ability
Answers
Answer:
entrepreneurial ability
Explanation:
Entrepreneurial ability is the capacity to understand every aspect of a business. It entails combining a range of technical, management, and personal skills. Entrepreneurial ability incorporates creativity, ambition, determination, teamwork, risk management, and a sense of responsibility.
Spencer must have Entrepreneurial abilities; that's why the club hired him. The club believes that his creativity and determination will be useful in finding additional resources. Spencer can recognize, attract, and retain talent. Entrepreneurial abilities involve taking over a business that already exists and making it better.
when firms in a particular industry informally agree to charge the same price as the largest firm in that industry, it is called: nonprice competition. overt collusion. tacit collusion. price extortion.
Answers
When firms in a particular industry informally agree to charge the same price as the largest firm in that industry, it is referred to as tacit collusion. The correct option is tacit collusion.
This practice is an anti-competitive behavior and is illegal as it reduces competition and consumer welfare. In tacit collusion, firms do not openly communicate and make agreements to fix prices, but they all follow the lead of the largest firm and charge similar prices, which is against the principle of fair competition. This behavior is harmful to the market as it may result in higher prices, reduced innovation, and a lack of product diversity. It is important for regulatory bodies to identify and penalize such practices to ensure a fair and competitive marketplace.
Nonprice competition, on the other hand, refers to the competition between firms based on factors other than price, such as quality, innovation, or marketing. Overt collusion, on the other hand, involves explicit agreements between firms to fix prices and reduce competition. Price extortion refers to charging exorbitant prices for goods or services. The correct option is tacit collusion.
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Some might argue that H & M’s failure to communicate began first within the firm. Explain how the firm’s structure might have led to this failure.
Assuming that the failure in communication was internal to H & M, how in the future can they prevent this incident from happening again?
Discuss the role of digital information technology in this case as a medium of communication.
Looking at the Communication Process, describe at what step of the process you think H & M failed to account for in their hoodie marketing campaign.
Describe the barriers in the H & M case that led to this failure to communicate.
Scandinavian and North American cultures have very similar low cultural contexts yet H & M clearly failed to account for cross-cultural communications in their hoodie campaign with the United States. What are some of the factors that accounted for these cross-cultural differences?
Describe the role of attitudes in this case – both H & M’s and the American public.
Answers
The firm's structure might have led to the failure of communication within H & M by creating silos or departmental boundaries that hindered effective information flow.
The firm's structure might have led to the failure of communication within H & M by creating silos or departmental boundaries that hindered effective information flow. In a hierarchical or fragmented structure, information may not flow freely between different departments or levels of the organization, resulting in a lack of coordination and understanding. This can lead to miscommunication, misunderstandings, and a breakdown in the dissemination of important information. To prevent similar incidents in the future, H & M can implement measures such as promoting a culture of open communication, fostering collaboration between departments, implementing effective communication channels and tools, conducting regular internal communication audits, and providing training on effective communication techniques. Creating cross-functional teams, encouraging feedback and suggestions from employees, and promoting transparency can also help enhance internal communication within the organization.
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A share of ownership in a company is known as which of the following?
А.Stock
B.Investment
с.Rebate
D.Bond
Answers
Answer:
Stock
Explanation:
The worth of a company is subdivided into small units known as shares. Each unit of a share represents the ownership of the company. The owners of the shares are described shareholders, and they are the owners of the company.
The term share is, at times, substituted with stock or equity. In ownership of a company, stock, shares, and equity will refer to the same things. Shareholders are also then referred to as stockholders.
Skilled professionals who are primarily responsible for the development of strategies to minimize taxes are called?.
Answers
Tax accountants are qualified individuals who are in charge of creating plans to reduce taxes.
Do tax accountants actually do anything?In order to create financial statements, provide advice, or audit and assess statements made by others, tax accountants must study, assess, and interpret accounting records. Installing or providing advice on cost-recording or other intergovernmental fiscal data systems.
Is hiring an accountant to handle your taxes preferable?Your particular circumstances will determine whether you need a tax accountant. If you are self-employed or if you underwent substantial changes in life during the tax year, you might want to think about hiring an accountant. If you need to make changes to a tax return from a previous year, you might also wish to hire an accountant.
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Acme Fasteners keeps efficiency high by making a million of each kind of bolt
at a time. But its customers usually want to buy only 1,000 to 10,000 of a kind
at a time. What service of wholesalers can best help Acme in this situation?
O
A. Buying large quantities and selling in smaller lots needed by
customers
O
B. Transporting fasteners to storage facilities
O
C. Being experts in fasteners and customers who use them
O
D. Keeping fasteners stored without theft or other kinds of loss
Answers
Answer:
A. Buying large quantities and selling in smaller lots needed by customers
Explanation:
Wholesalers can best help Acme in this situation by buying large quantities and selling in smaller lots needed. Thus, option A is correct.
Who is the customer?A customer is a client who places a request for a commodity, payments for such a product or service, and then receive it. The person who purchases a good or receives a service is known as a customer. A consumer is essentially the person who pays for the item or service.
In this situation, the wholesaler should buy the quantities in bulk that is being produced by the company and then divide the load into smaller quantity of 1000 unit or 10000 unit so that they can easily sell it to the customer and also benefit from the same and earn a profit from the same. Also, bulk buying can provide them with some offers.
Therefore, option A is the correct option.
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Multinational forces interact with a variety of entities requiring unified actions. These entities include, but are not limited to, _____.
Answers
Multinational forces interact with a variety of entities requiring unified actions. These entities include, but are not limited to, Intergovernmental organizations.
An organization known as an intergovernmental organization (IGO) is one that was established by a treaty involving two or more nations and was intended to work in good faith on matters of mutual concern. An IGO does not technically exist in the absence of a treaty. Over one-third of the 561 intergovernmental organizations in a 2020 academic dataset on international organizations that covered the years 1815 to 2015 were disbanded.
Intergovernmental organizations (IGOs) have grown in importance as a means of mediating disputes between states as well as resolving unresolvable disputes inside states. They perform a variety of fundamental tasks that increase the likelihood of cooperation.
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How did the Great Recession affect supply, demand, and economic
equilibrium in U.S?
Answers
The Great Recession led to a decrease in demand, a disruption in supply chains, and a shift in economic equilibrium in the U.S.
The Great Recession had a significant impact on supply, demand, and economic equilibrium in the United States. As the recession took hold, there was a sharp decline in consumer and business spending, leading to a decrease in demand for goods and services. This decline in demand resulted in reduced production and disrupted supply chains, causing layoffs and unemployment. With fewer people employed and earning income, consumer purchasing power further declined, exacerbating the decrease in demand. The overall effect was a negative shift in economic equilibrium, characterized by decreased production, reduced employment, and stagnant or declining wages. The Great Recession highlighted the interconnectedness of supply and demand factors in the economy, underscoring the need for policy measures to stimulate demand, restore consumer and business confidence, and stabilize the economy.
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The following are affected by the business structure you choose when you start your
business.
O a.
day-to-day operations, personal liability, and business name.
O b.
day-to-day operations, business location, and taxes.
О с.
profitability, personal liability, and taxes
O d.
day-to-day operations, personal liability, and taxes.
1
Answers
When you start business, the business structure you choose can affect your day-to-day operations, personal liability, and taxes.
What is a liability?Liability refers to the legal responsibility for one's actions or debts. It is an obligation to pay or perform something to another party. Liability can arise from various sources, such as contractual agreements, statutory laws, or common law. For instance, when a person borrows money from a bank, they have a liability to repay the loan amount to the bank within a certain period, according to the terms and conditions of the loan agreement. Liability can also arise from a person's actions or omissions that result in harm or damage to others. In such cases, the person may be held liable for the damages caused and may have to compensate the affected parties for their losses.
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influences of Business environment,
Answers
Factors that Influence the business environment are :
Economic environmentSocial environmentTechnological environmentPolitical environmentLegal environment
The business environment means the total of all the individuals, and institutions that could affect the working of the business firm.
Importance of business environment:
Business environments help the firm to prepare itself for every possible obstruction or hindrance that can affect the functioning of the firm.It also helps the firm to adjust to frequent changes.The economic environment is all the things that create an economic impact on the firm.
The social environment is all the traditions and customs of the society that creates an impact on the firm.
The technological environment is all the impact on the firm caused due to new technology and upgradations.
The political environment is the conditions and behavior that the elected representatives hold toward the business
The legal environment is entirely based on the rules and legislation of the authorities.
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What talents are helpful for the Arts, AV Technology and Communication Cluster? PLEASE HELP!!
WILL GIVE BRAINLIEST ! ! ! ! !
Answers
2. Transmission Engineer.
3. Broardcast Field Supervisor.
4. Broadcast and Sound Technician.
5. Camera Operator.
6. News Analyst.
7. Reporter.
8. Correspondent.
(If you need more, please let me know) :)
Which skills does Joseph demonstrate in this example? Joseph works as a school superintendent. He has realized that technological innovations are constantly changing the landscape of the education industry. He thus reads many books, magazines, articles, and blogs on the Internet to keep himself updated about such developments. As per this example, Joseph seems to possess good skills
Answers
If an agency's qualifying new business premium is ____ than the set minimum in a given month or quarter in the prior year, that agent's baseline will be increased to the minimum baseline that month or quarter.
Answers
Answer:
lower
Explanation:
If the premium set is below the minimum threshold then agent baseline will be increased. This is because the commission of an agent is based on the percentage of the premium. If the premium amount is lower then the commission will also be lower resulting in the agent baseline to decrease.