Answer:
Gramm–Leach–Bliley Act
Explanation:
The Gramm–Leach–Bliley Act (GLBA), also known as the Financial Services Modernization Act of 1999, (enacted November 12, 1999) is an act of the 106th United States Congress (1999–2001). It repealed part of the Glass–Steagall Act of 1933, removing barriers in the market among banking companies, securities companies and insurance companies that prohibited any one institution from acting as any combination of an investment bank, a commercial bank, and an insurance company. With the bipartisan passage of the Gramm–Leach–Bliley Act, commercial banks, investment banks, securities firms, and insurance companies were allowed to consolidate. Furthermore, it failed to give to the SEC or any other financial regulatory agency the authority to regulate large investment bank holding companies. The legislation was signed into law by President Bill Clinton.
Answer:
(C) Estimating and managing future demand.
Explanation:
Marketing is basically analyzing the demand of the consumers and then supplying it at maximum to get the maximum profit.
This involves some main steps, in which the most essential is the planning, which involves about estimating and managing the demand and then the entire plan of production, supply of commodity.
Thus, the most important step in marketing is to estimate the demand and supply, and then managing the future demand basically.
Answer:
(a) Last year taxation is paid through the current year provision
Answer:
B. Income Tax Expenses
Explanation:
The Purpose of the Income Statement in Financial Statement Preparation is to ascertain the profit or loss of a business entity for a particular year. Usually, the format is as follows:
1. Gross Profit= Sales- Cost of Goods sold(Opening Inventory + Purchases- Closing Inventory)
2. Net Profit/ Net Loss = Gross Profit + Other Revenues and Gains - Expenses for the period.
However, income tax expense is only calculated when the net profit has been ascertained. It is usally referred to as net income before tax. It is based on this figure, that the income tax expense is then calculated based on prevailing income tax percentage.
Every other part of the income statement covers a section, but all sections should be calculated and concluded before the income tax expense can be calculated and then subtracted to arrive at the final income tax.
Answer:
a) A gain is subtracted from net income.
d) An increase in operating current assets is subtracted from net income.
e) A decrease in operating current liabilities is subtracted from net income.
Explanation:
Operating activities: It involves those transactions that affect the after-net income working capital. It would subtract the rise in current assets and a decrease in current liabilities while add a decrease in current assets and an increase in current liabilities.
It would modify those changes in working capital. For addition, the depreciation costs are added to the net income and the loss on the sale of assets is applied, while the gain on the sale of assets is excluded
So, the following options are used-
a) A gain is subtracted from net income.
d) An increase in operating current assets is subtracted from net income.
e) A decrease in operating current liabilities is subtracted from net income.
