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Firdavs [7]
3 years ago
7

Which of the following is a valid reason for governmental entities to engage in business-type activities?(A) The entity does not

want control over the activity.(B) The activity competes with general government activities.(C) The entity does not want to subsidize the activity.(D) The entity can provide the services more cheaply or efficiently than can a private firm.
Business
1 answer:
Orlov [11]3 years ago
5 0

Answer: Option D

     

Explanation: The prime objective of every government in the world is to develop their nation and make the life of their population better. The living standard of the population heavily depends on the basic necessities of life.

Therefore, sometimes government engage in business activities to provide individuals certain commodities at subsidized prices. Most of the government entities do not work for profit thus they are able to provide commodities cheaper than private sector.

Hence, from the above explanation we can conclude that option D is correct.

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Om is a college student at FSU. He has the option to buy a parking pass at the beginning of the year for $250. If Tom doesn't bu
Marat540 [252]

Answer:

risk seeking

Explanation:

8 0
3 years ago
Golddigger Services, Inc. provides services to clients. On May 1, a client prepaid Golddigger Services $60,000 for 6-months serv
sveticcg [70]

Answer:

Option C Credit to Unearned Management Fees for $62,000

Explanation:

The reason is that the unearned managment fees are liabilities and so are credit in nature just like other liabilities. It is also the requirement of accrual accounting system that says the revenue and expenses must only be recorded when they are realized. Which means the revenue share for example which is $1000 must be recorded as revenue when we will deliver our customers services of one month. It doesn't matter if the revenue amount is not received in cash. So delivering your share is compulsory here to recognize sales or services.

4 0
3 years ago
Theodore Enterprises had the following pretax income (loss) over its first three years of operations: 2016 $ 500,000 2017 (900,0
m_a_m_a [10]

Answer:

$450,000

Explanation:

Theodore Enterprises had the following pretax income (loss) over its first three years of operations:

2016 $ 500,000

2017 (900,000 )

2018 1,500,000

For each year there were no deferred income taxes and the tax rate was 30%. In its 2017 tax return, Theodore elected a net operating loss carryback. No valuation account was deemed necessary for the deferred tax asset as of December 31, 2017.

Therefore Theodore's income tax expense for 2018 is 30% x 1,500,000  = $450,000

Loss carry back is when a business elects to net off losses against a previous year's return as opposed to loss carry forward which is the future years' return.

4 0
3 years ago
Read 2 more answers
Management assertions about classes of transactions are a. Occurrence. b. Completeness. c. Authorization. d. Accuracy. e. Cutoff
DaniilM [7]

Answer:

Misstatement is referred to as errors in the presentation of financial information that could lead to wrong decision by the users

Explanation:

Occurrence : Issuing of dummy invoices for sales that did not occur            

Completeness:  Sales invoice were not fully recorded due to omission or misplacement

Authorization: Sales are not approved by the responsible manager. No authorized signature

Accuracy : Casting of sales figure on the register is not correct.

Cutoff : Sales are not recorded in the proper accounting period. January sales being recorded in the previous year account.

Classification : Grants being wrongly recorded as revenue

Presentation : Exaggerated revenue.

5 0
3 years ago
Childress Company produces three products, K1, S5, and G9. Each product uses the same type of direct material. K1 uses 4 pounds
Reika [66]

Answer:

The contribution per pound for K1, S5, and G9 is $64 per pound, $27 per pound, and $66 per pound respectively.

Explanation:

The contribution margin shows a difference between selling price per unit and the variable cost per unit.

In equation, it is displayed below:

Contribution per unit = Selling price per unit - Variable cost per unit

Since, in the question we have to calculate the contribution margin per pound  for each of the three products. So by using the above equation, the calculation can be made which is shown below:

Contribution margin per pound for Product K1

= K1 Selling price per pound - K1 Variable cost per pound

= $160- $96

= $64 per pound

Contribution margin per pound for Product S5

= S5 Selling price per pound - S5 Variable cost per pound

= $112- $85

=$27 per pound

Contribution margin per pound for Product G9

= G9 Selling price per pound - G9 Variable cost per pound

= $210- $144

=$66 per pound

Other costs and production level is immaterial while calculating contribution margin for these three products.

Hence, the contribution per pound for K1, S5, and G9 is $64 per pound, $27 per pound, and $66 per pound respectively.

4 0
3 years ago
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