1. Asunción was involved in an auto accident in which she was at fault. Her own car sustained $2,403 damages and the other vehicle cost $316 to repair. Asunción was not injured, but the driver of the other car required medical treatment costing $2,398. There was additional property damage in the amount of $2,358. Asunción's policy includes 10/20/5 liability, $500 deductible collision, and $100 deductible comprehensive. How much of the damages must Asunción pay? A. $316 B. $500 C. $6,975 D.$7,475 2.Texas Manufacturing had a net income before taxes of $2,794,400. Find the tax liability. (Assume the corporate tax rate is 21%.) A. $558,880 B. $586,824 C. $1,033,928 D. $1,397,200
1. Asunción was involved in an auto accident in which she was at fault. Her own car sustained $2,403 damages and the other vehicle cost $316 to repair. Asunción was not injured, but the driver of the other car required medical treatment costing $2,398. There was additional property damage in the amount of $2,358. Asunción's policy includes 10/20/5 liability, $500 deductible collision, and $100 deductible comprehensive. How much of the damages must Asunción pay? A. $316 B. $500 C. $6,975 D.$7,475 2.Texas Manufacturing had a net income before taxes of $2,794,400. Find the tax liability. (Assume the corporate tax rate is 21%.) A. $558,880 B. $586,824 C. $1,033,928 D. $1,397,200
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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1. Asunción was involved in an auto accident in which she was at fault. Her own car sustained $2,403 damages and the other vehicle cost $316 to repair. Asunción was not injured, but the driver of the other car required medical treatment costing $2,398. There was additional property damage in the amount of $2,358. Asunción's policy includes 10/20/5 liability, $500 deductible collision, and $100 deductible comprehensive. How much of the damages must Asunción pay?
A. $316
B. $500
C. $6,975
D.$7,475
2.Texas Manufacturing had a net income before taxes of $2,794,400. Find the tax liability. (Assume the corporate tax rate is 21%.)
A. $558,880
B. $586,824
C. $1,033,928
D. $1,397,200
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