Which of the following are the two main types of contracts?

Compute the 2019 Federal income tax liability and the marginal and effective tax rates in each of the following independent case

muminat

Answer: a.19.59% b.15.11%.

Explanation:

Average tax rate is given as the total tax paid divided by total taxable income which is expressed as a percentage and must be less than the marginal tax rate.

Chandler is single and reports

taxable income of $132,200.

Tax liability: 25,903

Marginal rate: 24 %

Average rate: 17.94 x % = wrong

Average rate = total liable tax/ total income= 25, 903/ 132,200=0.195937 rounded to 0.1959

0.1959 x 100 = 19.59%.correct

b. Lazare, a head of household, records

taxable income of $80,600.

Tax liability: 12,176

Marginal rate: 22 %

Average rate: 12.30 X %= wrong

Average rate = total liable tax/ total income= 12,176/ 80,600= .0.15106= 0.1511

0.1511 x 100 = 15.11%.correct.

4 0

3 years ago

4) Double-declining-balance depreciation: A) is an accelerated depreciation method. B) ignores the residual value in computing d

Oxana [17]

Answer:

Option D is correct.

Explanation:

Every single offered proclamation are right is the response in light of the fact that under the Double-declining-balance depreciation since it has more devaluation costs when contrasted with different strategies for depreciation.It isn't taking the leftover worth while figuring the deterioration it considers at end year depreciation is determined by taking the distinction of a year ago equalization and rescue value.Under this strategy deterioration is determined on balance measure of depreciation or book value of assets.

4 0

3 years ago

Financial accounting is the process of identifying, measuring, and communicating financial information about an economic entity

Anna007 [38]

Answer:

The correct answer is "financial information; economic entity; user groups; legal, economic political and social environment"

Explanation:

The four major elements of financial accounting are:

1. financial information: includes items such as management discussion, analysis, and reports.

2. economic entity: An economic entity is company actions that are separate from its owners and other entities, such as corporations and governmental organizations.

3. user groups: request business information of an economic entity. Investors and financial analysts are user groups.

4. legal, economic political and social environment: influences the financial reporting process.

7 0

3 years ago

Which of the following is a benefit of planning? a.It helps managers understand the relationships among employees. b.It helps ma

DIA [1.3K]

Answer: Option C

Explanation: Planning in management refers to the process in which the managers focuses on determining the goals of the company and ascertaining the need of resources needed to achieve those goals. It is the first step in the management process.

It is focused on allocating the resources to different departments and sections as per the needs, so that the objectives of the organisation could be achieved.

Thus, from the above we can conclude that the correct option is C.

5 0

3 years ago

The statement made by Lynn Turner, former SEC chief accountant, "Are the auditors going to serve management, or are they going t

OleMash [197]

Answer:

B. Conflict between professionalism and commercialism

Explanation:

The conflict between professionalism and commercialism speaks to the debate on satisfying the management of an organisation as an auditor in order to meet economic situations and the need to be professionally independent of management in order to make a true and fair statement of the state of the organisation available to the shareholders as well as potential investors and the general public.

Because the management of an organisation runs the day to day affairs of that organisation, the Auditor in performing his duty interacts more with management and as such, the security of his future engagements may depend on favourable opinions of the management. This is commercialism

However, professionalism dictates that ethically, irrespective of the position of the management of an organisation, an auditor should always report the true and fair state of the business.

This represents the conflict expressed by Lynn Turner.

4 0

3 years ago