Answer:
Outstanding checks - Book side
Deposits in transit - Book side
Bank service charges - Bank side
NSF Check - Book side
Explanation:
The bank reconciliation helps identify the transactions that have been recorded in the cash book but omitted from the bank statement and vice versa.
Considering the given items
Outstanding checks - These are checks that have been written and deducted from the cash balance in the book but yet to be recognized or cleared in the bank statement.
Deposits in transit - The amount would appear on the book side as it represents amounts that have been collected but yet to be deposited and subsequently recognized in the bank statement.
Bank service charges - These are charges that have been recognized in the bank but yet to be recorded or deducted from the cash balance in the books.
NSF Check - This represents customer's debt settlement via check that has not been honoured by the bank. Hence this will have to be deducted from the cash balance in the books
Many managers describe performance appraisal as the responsibility that they like least. Why is this so? What could be done to improve the situation?
Answer:
Many managers describe performance appraisal as the responsibility that they like least. Why is this so?
it might be so because managers may feel that performance appraisal is not as productive as other activities, or because they lack the personal skills, or the motivation, to engage in that activity.
What could be done to improve the situation?
Managers should be taught that performance appraisal can be a very effective and productive method for the firm. When workers are praised for their work (when they deserve it), they are likely to be happier in the workplace, and it has been shown by countless studies that happier workers are also more productive.
5. Kroger can use __________ gathered from ClickList orders to determine which products they should keep more or less of in stock.
Answer: Data analytics
Explanation:
Data analytics simply has to do withcanalyzing raw data to make conclusions about a particular information. Data analytics is used by organizations in order to optimize their business performance.
Kroger can use data analytics gathered from ClickList orders to determine which products they should keep more or less of in stock.
BangBang Percussion Company tried to implement a flextime system. However, after only a few months, they abandoned the new system. Which of the following is the most likely reason BangBang would drop its flextime plan?
A. The employees resented being required to come to work early or stay late.
B. It caused an increase in traffic congestion.
C. Workers tend to be less productive when they have to work longer hours in a single day.
D. It often made communication among employees more difficult.
Answer: It often made communication among employees more difficult.
Explanation:
Flextime is a way of redesigning the traditional work schedules in such a way that the workers will work at the hours that's convenient for them and flexible rather than working based on normal office schedule or timing.
The most likely reason BangBang would drop its flextime plan is when communication among employees becomes difficult.
Rose Corporation, a calendar year corporation, had accumulated earnings and profits of $40,000 as of January 1, 2014. However, for the first six months of 2014 Rose Corporation had an operating loss of $36,000, and finished the year with a total net operating loss for tax year 2014 of $55,000. Rose Corporation distributed $15,000 to its shareholders on July 1, 2014. Which of the following is correct?A. The entire distribution of $15,000 is taxable as a dividend.B. The entire distribution is not taxable.C. The part of the distribution which is taxable as a dividend is $12,500.D. The part of the distribution which is taxable as a dividend is $14,000.
Answer:
C. The part of the distribution which is taxable as a dividend is $12,500.
Explanation:
Rose's total loss for the year = $55,000
we must prorate the loss: $55,000 / 12 months = $4,583.33 per month
loss allocated to the first 6 months = $4,583.33 x 6 = $27,500
retained earnings before the distribution = $40,000 - $27,500 = $12,500
since distributions must come from retained earnings to be considered dividends, then only $12,500 will be considered dividends. The remaining $2,500 will be considered a return of capital
2. Skip and Peggy are brother and sister and they fight about everything. Skip says that perfectly competitive firms maximize profit where marginal revenue equals marginal cost. Peggy says perfectly competitive firms maximize profit where price equals marginal cost. Settle this sibling rivalry once and for all.
Answer: They are both right.
Explanation:
Firms in every market will always maximise profit where their Marginal Revenue equals Marginal Cost because at this point, resources are being fully utilized. This is therefore no different in a Perfectly competitive market so Skip is correct.
Peggy is also correct however because in a Perfectly Competitive market, the demand curve is perfectly elastic. This creates a situation where the Price, Marginal Revenue and Average Revenue are all the same and represent the demand curve as well.
With the Price being the same as the Marginal Revenue in a Perfectly competitive firm, that means that where the Price equals Marginal Cost is where the Marginal Revenue equals Marginal Cost as well so indeed perfectly competitive firms maximize profit where price equals marginal cost.
Erosion costs. Fat Tire Bicycle Company currently sells bicycles per year. The current bike is a standard balloon-tire bike selling for $, with a production and shipping cost of $. The company is thinking of introducing an off-road bike with a projected selling price of $ and a production and shipping cost of $. The projected annual sales for the off-road bike are . The company will lose sales in fat-tire bikes of units per year if it introduces the new bike, however. What is the erosion cost from the new bike? Should Fat Tire start producing the off-road bike? What is the erosion cost from the new bike?
Answer:
A. $1,725,000
B. Yes
Explanation:
Calculation for the erosion cost from the new bike
First step to find the erosion cost
Using this formula
Erosion cost =(Sales-Production and shipping cost )*Loss of sales units per year
Let plug in the formula
Erosion cost=(100-40)*7,500
Erosion cost=60*7,500
Erosion cost= $450,000
Second step is to calculate for the Net annual Cash flow using this formula
Net annual cash flow= (Projected selling price-Production and shipping cost)*Projected annual sales-Erosion cost
Let plug in the formula
Net annual cash flow= (370-225)*15,000 - 450,000
Net annual cash flow =145*15,000-450,000
Net annual cash flow =2,175,000-450,000
Net annual cash flow=$1,725,000
B.Yes Fat Tire start producing the off-road bike
Because the net annual cash flow is positive
Data regarding four different products manufactured by an organization are presented below. The manufacturer has a constrained resource - machine hours.
Product A Product B Product Product D
Selling price per unit $20.00 $25.00 $23.00 $15.00
Variable cost per unit $10.00 $16.00 $11.00 $7.00
Hours to make each unit 5 hours 25 hours 2 hours 35 hours
Rank these four products in order of profitability.
1
2
3
4
n January 1, 1987, three 100 par value bonds with 6% annual coupons will mature at the end of 1, 2, and 3 years, respectively. The redemption value of each bond is 100. You are given that the prices for these bonds on January 1, 1987 are: Maturity Date Price December 31, 1987 101.92 December 31, 1988 102.84 December 31, 1989 105.51 These prices are based on an interest rate of i in 1987, j in 1988, and k in 1989. Determine j.
Answer:
j = 4.52%
Explanation:
face value = $100, with 6% annual coupons
bond₁ matures in 1 year (December 31, 1987), market price $101.92
bond₂ matures in 2 years (December 31, 1988), market price $102.84
bond₃ matures in 3 years (December 31, 1989), market price $105.51
we must determine the market interest rate (j) for bond₂, and to do this we will use the approximate yield to maturity formula:
YTM = {coupon + [(face value - market price)/n]} / [(face value + market price)/2]
YTM = {6 + [(100 - 102.84)/2]} / [(100 + 102.84)/2] = 4.58 / 101.42 = 0.045158 = 4.52%
Since the bonds are sold at a premium, it means that the coupon rate is higher than the market rate.
On November 1, Alan Company signed a 120-day, 8% note payable, with a face value of $9,000. What is the maturity value of the note on March 1
Answer:
$9,236.71
Explanation:
The computation of the maturity value of the note is shown below:-
Interest Amount = ($9000 × 8%) × 120 ÷ 365
= $720 × 120 ÷ 365
= $236.71
So, the Maturity Value is
= Face value + Interest amount
= $9,000 + $236.71
= $9,236.71
Therefore for computing the maturity value we simply applied the above formula.
If a stock has a preemptive right, it gives current stockholders the right to purchase any new shares issued by the firm, so as to maintain their level of ownership. This right helps protect current stockholders against both dilution of control and dilution of value.
a. True
b. False
Answer: True
Explanation:
When new shares are issued, the preemptive right helps maintain the position of the shareholder. The preemptive right is vital to shareholders as it protects them against the dilution of ownership interests.
Also, it gives current stockholders the right to purchase any new shares issued by the firm, so as to maintain their level of ownership.
Read Case Study 5:2 Gas or Grouse? in Chapter 5 of your textbook Business Ethics Concepts & Cases (8th Edition) by Manuel G. Velasquez and select the best answer for multiple choice questions below.
1. the spending bill was:
a. not necessary for the adjudication of Gas
b. passed by a largely republican congress
c. one of the most important milestones for emissions in the last century
d. the nickname of a politician that overspent funds by the name of William
2. BLM argued that:
a. it is important to treat everybody with respect
b. not everybody deserves an opportunity
c. gas emissions are important inter-globally
d. a significant decline in deer was a cause of action
3. The directional technology to drill was between:
a.$400,000 - $600,000
b. democrats and republicans
c. scientists and physicists
d. the period of 2008-2013
4. Grouse could be affected by:
a. folic acid in the air
b. excavation for silver and coal
c. overpopulation of Grouse
d. things that attract ravens
5. A decline in number of birds resulted because of
a. destruction of grounds for mating
b. 80% of nesting was destroyed
c. poor government internal controls
d. necessary bird control
Answer:
1-b
2-d
3-a
4-d
5-a
Explanation:
Answer:
blm :)
Explanation:
Joseph contributed $25,000 in cash and equipment with a tax basis of $6,400 and a fair market value of $12,600 to Berry Hill Partnership in exchange for a partnership interest.
a. What is Joseph’s tax basis in his partnership interest?
b. What is Berry Hill’s basis in the equipment?
Answer:
(A) $31,400
(B) $6,400
Explanation:
Joseph contributed $25,000 in cash and equipment
The tax basis is $6,400
The fair market value paid to Bill hill partnership is $12,600
(A) Joseph tax basis in his partnership interest can be calculated as follows
= contribution+tax basis
= $25,000+$6,400
= $31,400
(B) Since Joseph contributed a tax basis of $6,400 to Bill hill partnership in exchange for a partnership interest then, Bill hill's basis in the equipment is $6,400
If the budget deficit increases then a. saving and the interest rate rise. b. saving rises and the interest rate falls. c. saving falls and the interest rate rises. d. saving and the interest rate fall.
Answer:
c. saving falls and the interest rate rises.
Explanation:
If Country A runs a budget deficit, it forces the government to issue bonds at reduced prices in order to raise funds to shore up the decreased government revenue. When bonds are issued, the government is mopping up the savings, thus reducing the available savings. With this increased budget deficit, interest rates will rise as the cost of funding increases to match the inflationary effect of the deficit. And the vicious circle starts.
________ are a means for consumers to share text, images, audio and video information with each other and with companies, and vice versa. Group of answer choices Social media Microsites Interstitials Pay-per-click ads Mobile ads
Answer:
Social Media.
Explanation:
Social media are increasingly being used by people and companies around the world. Through it it is possible to share information, photos, videos, social interactions, etc.
For companies, these platforms are more than just an interaction tool, they can act as a marketing channel that will strengthen the relationship with the consumer, in addition to attracting new customers, strengthening the brand image, engaging consumers, creating shopping desires, providing data on consumer trends, etc.
Social Media are a means for consumers to share text, images, audio and video information with each other.
The following information should be considered:
Social media are increasingly being used by people and companies around the world. Through it is possible to share information, photos, videos, social interactions, etc.Learn more: brainly.com/question/17429689
The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020.
Raw Materials Inventory 7/1/19 $48,100
Factory Insurance $4,700
Raw Materials Inventory 6/30/20 39,700
Factory Machinery Depreciation 16,100
Finished Goods Inventory 7/1/19 96,100
Factory Utilities 28,700
Finished Goods Inventory 6/30/20 19,900
Office Utilities Expense 8,550
Work in Process Inventory 7/1/19 19,900
Sales Revenue 555,000
Work in Process Inventory 6/30/20 19,900
Sales Discounts 4,300
Direct Labor 139,350
Plant Manager’s Salary 61,100
Indirect Labor 24,560
Factory Property Taxes 9,610
Accounts Receivable 27,100
Factory Repairs 1,500
Raw Materials Purchases 96,500
Cash 32,100
Required:
Prepare an income statement through gross profit.
Answer:
Clarkson Company
Income statement for the year ended June 30, 2020
Sales Revenue $555,000
Less Costs of Goods Sold :
Opening Finished Goods Inventory $96,100
Add Cost of Goods Manufactured $390,520
Less Closing Finished Goods Inventory ($19,900) ($466,720)
Gross Profit $83,280
Explanation:
First prepare a Schedule of Manufacturing Costs to determine the Cost of Goods Manufactured.
Schedule of Manufacturing Costs
Factory Insurance $4,700
Raw Materials ($48,100 + $96,500 - $39,700) $104,900
Factory Machinery Depreciation $16,100
Factory Utilities $28,700
Direct Labor $139,350
Plant Manager’s Salary $61,100
Indirect Labor $24,560
Factory Property Taxes $9,610
Factory Repairs $1,500
Add Opening Work In Process Inventory $19,900
Less Closing Work In Process Inventory ($19,900)
Cost of Goods Manufactured $390,520
ROI, Residual Income, and EVA with Different Bases Envision Company has a target return on capital of 12 percent. The following financial information is available for October ($ thousands):
Software Division . Consulting Division Venture Capital Division
(Value Base) (Value Base) (Value Base)
Book Current Book Current Book Current
Sales $100,000 $100,000 $200,000 $200,000 $800,000 $800,000
Income 12,250 11,700 16,400 20,020 56,730 51,920
Assets 70,000 90,000 100,000 110,000 610,000 590,000
Liabilities 10,000 10,000 14,000 14,000 40,000 40,000
Required
a. Compute the return on investment using both book and current values for each division. Round answers to three decimal places.
Book Value Current Value
Software Answer ? Answer ?
Consulting Answer ? Answer ?
Venture Capital Answer ? Answer ?
b. Compute the residual income for both book and current values for each division. Use negative signs with answers, when appropriate.
Book Value Current Value
Software $Answer 3,850 $Answer 900
Consulting Answer 4,400 . Answer 6,820
Venture Capital Answer (16,470) Answer (1,880)
c. Compute the economic value added income for both book and current values for each division if the tax rate is 30 percent and the weighted average cost of capital is 10 percent. Use negative signs with answers, when appropriate. Book Value Current Value
Software $Answer ? $Answer ?
Consulting Answer ? Answer ?
Venture Capital Answer ? Answer ?
Answer:
a. ROI = income / Assets
Book Value Current Value
Software Division 0.175 0.13
Consulting Division 0.164 0.182
Venture Capital Division 0.093 0.088
Workings:
i. Book value
Software Division = 12,250/70,000=0.175
Consulting Division = 16,400/100,000=0.164
Venture Capital Division = 56,730/610,000 =0.093
ii. Current value
Software Division = 11,700/90,000=0.13
Consulting Division = 20,020/110,000=0.182
Venture Capital Division= 51,920/ 590,000=0.088
b. Residual income = Income - {Asset x Return on capital 12% }
Book Value Current Value
Software Division 3850 900
Consulting Division 4400 6820
Venture Capital Division -16470 -18880
Workings:
i. Book value
Software Division = 12,250-(70,000*12%)=3850
Consulting Division = 16,400-(100,000*12%)=4400
Venture Capital Division = 56,730-(610,000*12%) =-16470
ii. Current value
Software Division = 11,700-(90,000*12%)=900
Consulting Division = 20,020-(110,000*12%)=6820
Venture Capital Division= 51,920-(590,000*12%)=-18880
c. Economic Value Added ( EVA ) = Net Income After Tax - ( Amount of Capital x Weighted Average Cost of Capital [WACC] )
C. Software Division
(Value Base)
Book Current
Sales 100,000 100,000
Income 12,250 11,700
Assets 70,000 90,000
Liabilities 10,000 10,000
Capital invested 60,000 80,000
(Asset - Liabilities)
Tax on Income(30%) 3675 3510
Income after Tax 8,575 8,190
(Income - Tax on
income) (A)
Capital invested 6,000 8,000
* WACC - 10% ) (B)
EVA (C)=(A)-(B) 2,575 190
Consulting Division
(Value Base)
Book Current
Sales 200,000 200,000
Income 16,400 20,020
Assets 100,000 110,000
Liabilities 14,000 14,000
Capital invested 86,000 96,000
(Asset - Liabilities)
Tax on Income(30%) 4920 6006
Income after Tax 11,480 14,014
(Income - Tax on
income) (A)
Capital invested 8,600 9,600
* WACC - 10% ) (B)
EVA (C)=(A)-(B) 2,880 4,414
Venture Capital Division
(Value Base)
Book Current
Sales 800,000 800,000
Income 56,730 51,920
Assets 610,000 590,000
Liabilities 40,000 40,000
Capital invested 570,000 550,000
(Asset - Liabilities)
Tax on Income(30%) 17019 15576
Income after Tax 39,711 36,344
(Income - Tax on
income) (A)
Capital invested 57,000 55,000
* WACC - 10% ) (B)
EVA (C)=(A)-(B) -17,289 -18,656
If an analyst wished to determine the degree to which leverage was being employed by a subject company, she would most likely examine that issuer's:______.
a) sales to debt ratio.
b) debt to equity ratio.
c) current ratio.
d) price to book ratio.
Answer:
B) debt to equity ratio.
Explanation
The debt to equity ratio is computed by dividing the issuer's long-term debt by their total capitalization. The higher the ratio, the more leverage being used by the company.
Hope this helps! （づ￣3￣）づ╭❤～
The following standards for variable manufacturing overhead have been established for a company that makes only one product: Standard hours per unit of output 5.2 hours Standard variable overhead rate $11.60 per hour The following data pertain to operations for the last month: Actual hours 2,500 hours Actual total variable manufacturing overhead cost $29,590 Actual output 150 units What is the variable overhead efficiency variance for the month?
Answer:
Variable overhead efficiency variance= $19,952 unfavorable
Explanation:
Giving the following information:
Standard hours per unit of output 5.2 hours
Standard variable overhead rate $11.60 per hour
Actual hours 2,500 hours
Actual output of 150 units
To calculate the variable overhead efficiency variance, we need to use the following formula:
Variable overhead efficiency variance= (Standard Quantity - Actual Quantity)*Standard rate
Standard quantity= 5.2*150= 780
Variable overhead efficiency variance= (780 - 2,500)*11.6
Variable overhead efficiency variance= $19,952 unfavorable
In the _____ stage of the product life cycle, competition intensifies and profits diminish. Companies increase their promotional efforts but emphasize selective demand.
Answer: maturity
Explanation:
The product life cycle is the time used by a product from the day the product is introduced into the market till the day it's withdrawn. The four stages of the product life cycle are the introduction stage, the growth, the maturity stage and finally the decline stage.
In the maturity stage of the product life cycle, competition intensifies and profits diminish. Companies increase their promotional efforts but emphasize selective demand.
An investor buys a total of 360 shares-year bond with a $1,000 face value for $800. The bond's coupon rate is 8% and interest payments are made semi-annually. Waht are the bond's yield to maturity and effective annual yield?
Answer:
YTM (Annual( = 10.13%
Effective Annual Yield =10.40%
Explanation:
In order to calculate Yield to maturity, we need to use yield to maturity formula.
Formula: Yield to maturity = [C +(F – P)/n]/(F + P)/2
Where,
C = Coupon amount
F = Face value
n = number of periods
P = Current price
Data
C = 1000 x 8 % = 80
C (6months) = 80 x 6/12 = 40
F = $1000
n = 30 years
P = $800
Solution
YTM = 40 + (1000 – 800/30)/(1000 + 800)/2
YTM = 40 + (200/30)/(1800/2 )
YTM = 40 +( 200/30)/900
YTM = 5.068 semiannual
YTM (Annual( = 10.13%
Effective Annual Yield = [tex](\frac{1+0.1014}{2})^{2-1}[/tex]
Effective Annual Yield =10.40%
Charlie hopes to accumulate $83,000 in a savings account in 10 years. If he wishes to make a single deposit today and the bank pays 3 percent compounded annually on deposits of this size, how much should Charlie deposit in the account
Answer:
PV= $61,759.80
Explanation:
Giving the following information:
Future value (FV)= $83,000
Number of years (n)= 10 years
Interest rate (i)= 3% compounded annually
To calculate the initial deposit, we need to use the following formula:
PV= FV/(1+i)^n
PV= 83,000 / (1.03^10)
PV= $61,759.80
Fill in the blanks to complete the sentence. Fixed costs equal $25,000; variable cost per unit is $2.50 and units produced are 10,000. The total budgeted costs is
Answer:
Total cost= $50,000
Explanation:
Giving the following information:
Fixed costs equal $25,000
Variable cost per unit is $2.50
Units produced=10,000
To calculate the total costs, we need to use the following formula:
Total cost= fixed costs + total variable cost
Total cost= 25,000 + 2.5*10,000
Total cost= $50,000
The Total budgeted cost when the fixed cost, variable cost per unit is given should be $50,000.
Calculation of the total budgeted cost:Since
Fixed costs equal $25,000
The variable cost per unit is $2.50
Units produced=10,000
Now the following formula is used
Total cost= fixed costs + total variable cost
Total cost= 25,000 + 2.5*10,000
Total cost= $50,000
Basically we added the fixed cost and the total variable cost so that the total cost could come.
hence, The Total budgeted cost is $50,000.
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Company X was expected to have earnings per share of $0.52 for the upcoming quarter. On the day of the results, the company reported earnings per share of $0.83. What happened to the share price when the stock market opened?
Answer:
Rise in stock price.
Explanation:
In general, the stock price has increased because the expected earning was $0.52 per share but the actual earnings were $0.83. therefore, we can say that stock prices have increased. moreover, there are other factors that may affect the stock price. But in this case. A positive surprise in the earnings per share results in stock price going up.
Garrod Smith is a master woodcarver and sole owner of "Smith Custom Doors, LLC." Which of the following advantages applies to his business form?
A. The business is not a taxable entity.B. The business is a separate legal entity from Garrod Smith.C. The business is not taxed as a corporation or sole proprietorship.D. The business makes Garrod liable for only half of the business' debt.
Answer: The business is not taxed as a corporation or sole proprietorship.
Explanation:
From the question, we are informed that Garrod Smith is a master woodcarver and sole owner of "Smith Custom Doors, LLC." The advantage that applies to his business form is that the business is not taxed as a corporation or a sole proprietorship.
true or false: a supply curve describes how much a producer of services are willing to sell at different prices
Answer:
True
Explanation:
The supply curve is a graph showing the quantities of a good or service a supplier is willing and able to supply at differnt prices.
According to the law of supply. the higher the price, the higher the quantity supplied and the lower the price, the lower the quantity supplied.
the supply curve is upward sloping
A regulated Natural Monopoly is more likely to advertise freely under which of the following types of regulation?
a) price regulation
b) profit regulation
c) output regulation
d) social regulation
Answer:
A
I took the quiz
Explanation:
You sold a car and accepted a note with the following cash flow stream as your payment. What was the effective price you received for the car assuming an interest rate of 6.0%?
A. Year 0-$0.
B. Year 1-$1,000.
C. Year 2-$2,000.
D. Year 3-$2,000 and Year 4-$2,000.
Answer:
year two
Explanation:because less time still you'll have 2,000
Suppose that a country has no public debt in year 1 but experiences a budget deficit of billion in year 2, a budget surplus of billion in year 3, a budget surplus of billion in year 4, and a budget deficit of billion in year 5.
A) What is the absolute size of its public debt in year 4?
B) If its real GDP in year 4 is $104 billion, what is this country's public debt as a percentage of real GDP in year 4?
Answer:
a. 72 billion
b. 69.2%
Explanation:
a. The absolute size of its public debt in year 4 would be the total value of the deficit from year 1 till 4.
= 0 + 50 + 30 - 10 (budget surplus so it reduces deficit) - 2
= 72 billion
b. Percentage of real GDP in year 4;
= (72/104) * 100%
= 69.2%
If a company's required rate of return is 10% and, in using the net present value method, a project's net present value is zero, this indicates that the
Answer:
The project earns a 10% rate of return
Explanation:
This indicates that the “ project earns a 10% rate of return”. Since it is given in the question that the required rate of return is 10% and the company analysis that the net present value of the project is zero. That means the project is profitable and earns a sufficient profit or project giving a sufficient return. Therefore, it can be determined that the project is providing the earning or rate of return 10 per cent.
The company is termed as the established legal entity that has been built on the basis of the company act of the year 2013. The act demonstrates or depicts the economic activities of the company and also determines the various measures to calculate the earning and the contribution to the growth of the economy.
The indication in the context is The project earns a 10% rate of return
This signifies that the "promotes affordable a 10% rate of return." Because the needed rate of return is 10percent and also the company analysis suggests that the project's net present value is zero, the answer is yes.
This implies that the project is profitable and produces a sufficient profit or payback. In a conclusion, it can be determined that the challenging design has a 10% earning or rate of return.
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"Your customer has been declared legally incompetent and his daughter has presented the proper legal papers appointing her as the guardian. Which statement is TRUE?"
Answer: B. Trading instructions can be accepted only from the daughter
Explanation:
The customer has been declared legally incompetent which means that he should not be making decisions that have to do with something as serious as trading instructions as he will not be able to comprehend them.
The only person that should therefore take over such roles would be his daughter who is a legal guardian. As she is not his guardian, she is able to take such decisions for him and so the trading instructions should be accepted only from the daughter.