Although English and Spanish are both official languages, but English is taught in the schools as a second language, Spanish remains the language of first choice, except in a business context. Ethnically, Puerto Ricans are descended primarily from Spaniards and Africans with a sprinkling of Taino Indian (the original inhabitants of the island), United States and European blood. Political status Puerto Rico was discovered by Columbus in 1493 and colonized by Spain. In 1898 the Island was ceded by Spain to the United States which continues to own Puerto Rico. In 1917, Puerto Ricans became United States citizens and in 1952, the United States Congress approved a constitution for Puerto Rico conferring a right of internal self-government.
Philip Kargman had acquired for $25,000 the buyer's rights in a contract for the sale of an office building. Kargman asked Diamond to obtain a mortgage loan from Marshall Savings and Loan for the full $1,100,000 purchase price of the building. Diamond and Kargman agreed that Diamond would receive a 60% share of profit or loss of the venture if he arranged the financing. Diamond obtained the mortgage of $1,100,000 and on December 15, 1961 entered into an agreement with Kargman that stipulated (1) The two were associated as joint venture for 24 years (the life of the mortgage) unless earlier terminated by agreement or by sale; (2) Kargman was to advance all cash needed for the purchase beyond the loan proceeds; (3) Profits and losses would be divided, 40% to Kargman, 60% to Diamond; (4) In event of sale, proceeds would be devoted first to repayment to Kargman of money supplied by him, and net profits thereafter would be divided 40% to Kargman, 60% to Diamond. Early in 1962, Kargman and Diamond created an Illinois land trust to hold title to the property to insulate Diamond and Kargman from personal liability on the mortgage note.
This figure is as a result of the loan it acquired on June 11, which will fund the firm’s operations11, including a range of growth initiatives such as the rollout of Panera 2.09. The 5-year term loan applies a floating rate of interest based on a credit spread to LIBOR based on the company's consolidated leverage ratio12. The borrowing rate at the time of the loan was approximately 1.15%8. Certain of its direct and indirect subsidiaries14 guarantee PNRA’s commitments under the term loan. At the end of Q3 2014, PNRA had a cash balance of $146 million—compared to $125 million at the end of fiscal year 2013.
Similarly, both Constitution allow expropriation “in the public interest” (Constitution of the PRC) or “for public use” (Constitution of Japan), provided that compensation is delivered. According to the Japanese constitutional text, compensation must be “just” (art. 29); nevertheless, no further specification about how it must be computed are provided. 2.2.1 The Land Expropriation Act The issue of expropriation of land for the public use is developed in the Land Expropriation Act or Land Expropriation Law (LEL) of 1951, whose primary intent is to “balance the promotion of public benefits and protection of public rights” (Lum, 2007: 462). In comparison with the Chinese procedure, a new element is introduced: an expropriation, in order to be lawful and in the public interest, must be declared as such by the Japanese Minister of Construction (Lum, 2007: 461).
So I will have my fixed cost revised. The new fixed cost will be 2,440 + 6,000 = $8,440 per month. Therefore, new breakeven point in units = 8,440 ÷ 5.55 = 1,521 Milkshakes per month. Of above for the given sales mix I have to sell 1,521 x 0.70 = 1,065 small milkshakes and 1,521 x 0.30 = 456 large milkshakes. Answer: To achieve break even with built in salary of $6,000 per month my fixed cost will increase leading to increase in breakeven units.
To promote and preserve monetary stability and the convertibility of the national currency is included on BSP’s tasks. BSP is an important institution in a country since it is the one which is responsible for the development and progress of the national economy. It has its supervisory powers in which the operations and activities of all banks is under the supervise of BSP. The Bangko Sentral shall provide policy direction in the areas of money, banking and credit. Its vision is “The BSP aims to be a world-class monetary authority and a catalyst for a globally competitive economy and financial system that delivers a high quality of life for all Filipinos.” Furthermore, the mission of BSP
The agreement is broad and comprehensive, covering issues such trade in goods and services, investment, bilateral cooperation and competition policy. Once the trade agreement was in force, Costa Rica agreed to eliminate custom duties for 90.6% of its tariff lines, while tariffs on the remaining products would be eliminated over a period of 10 years . Key Singapore exports that will benefit from the FTA are electronics, machineries, petrochemicals and processed food. As discussed in the trade agreement, Singapore granted immediate duty free access for all imports from Costa Rica upon entry into force of the
In 2005, tax revenue contributed 75.81 % of the national income (MOF, 2006), while non- tax revenue contributed 24.19% of the total income. Based on the total tax revenue, direct tax has been the biggest contributor at 50.37% while the balance was made up of indirect taxes at 25.44% (Abdullah Al-Mamun, Jan 2014). The types of taxes in Malaysia can divided into two categories : 1. Direct taxes which is administered by the Inland Revenue Board (IRB). 2.
CHAPTER TWO LITERATURE REVIEW 2.0 Contribution of tax revenue to total revenues It is undeniable that tax is the major source for government revenue. This is shown from the annual report by Inland Revenue Board of Malaysia. From 2011 to 2013, the amount of tax revenue obtained were half the total revenues obtained. In 2011, IRBM recorded the collection of direct tax of RM 109.609 billion from the total revenues of RM 185.419 billion, which means 59.11% of the total revenues came from direct tax collected. In 2012, IRBM recorded the collection of direct tax of RM 124.88 billion from the total revenues of RM 207.913 billion, which means 60.07% of total revenues came from direct tax collection.
This paper will talk about Bill of Rights-- its definition, its illustration about life, liberty and property, and its implication to the Philippines. All the rights of the people are under the supervision of the Bill of rights. A bill is a formal statement of a proposed new law that is examined and then voted on in a Parliament (Collins, 2009, p.83). Moreover, Bill of rights is a summary or collection of certain fundamental rights and privileges guaranteed to the people and