Question: 1. Answer both A and B questions. A. Distinguish between Variable Commission Scale and Salary with Commission? (Elaborate, minimum of three sentences). B. Mr. Sameer


1. Answer both A and B questions. A. Distinguish between Variable Commission Scale" and "Salary with Commission"? (Elaborate, minimum of three sentences). B. Mr. Sameer has to work for 7 hours a day and 6 days per week as per the employment agreement. He is eligible for time- and-half pay for the overtime. During a week, he worked for 54 hours. The normal rate per hour is OMR 6. a. Calculate the differential rate pay per hour b. Calculate the gross pay of Mr. Sameer 2. Answer both A and B questions. A. What are the differences between the Straight-Line Depreciation and Written Down Value Method? (Minimum of three sentences). B. A company has purchased a new machine on 1 October 2016 for OMR 18,000. The machine has a life of 4 years with a salvage value of OMR 2,000. Assuming that the company calculates the depreciation for each year on 31 December, Calculate: a. The depreciation expense for the years 2016 and 2017. b. Accumulated depreciation as on 31 December 2017. .. Book Value of the machine as on 31 December 2017. d Calculate the rate of depreciation using written- down-value method. 3. Answer both A and B questions A. What are the differences between the simple interest and compound interest? (Elaborate, minimum of three sentences) B. An investor deposited OMR 12,000 into an account paying 24% annual interest. Calculate the following. 1. The amount and interest for 2 years if compounded half-yearly. 2. The amount and interest for 3 years if compounded quarterly. 3. The amount and interest for 1 year if compounded monthly
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