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nata0808 [166]
2 years ago
11

Both interest bearing and noninterest bearing notes bear interest. A. True B. False

Business
1 answer:
Veronika [31]2 years ago
3 0

The statement "Both interest bearing and noninterest bearing notes bear interest." is true.

An interest-bearing note bears interest. The interest on a non-interest-bearing note is subtracted from the note's principal. So, the statement is true.

An interest-bearing note is a sum of money that a lender lends to a borrower, with interest accruing in line with the conditions of the contract.

A non-interest bearing note is a loan for which the borrower is not legally required "to pay the lender any interest" at all.

Both kinds of notes bear interest, hence the term "noninterest bearing" is misleading. Interest is deducted from a noninterest bearing note at the time the loan is made.

To learn more about noninterest bearing notes here

brainly.com/question/14617157

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Toby kirkland’s parents claim him as a dependent on their tax return. Toby had earned income in the amount of $2,897. What is to
labwork [276]

When we use the IRS rule which states the standard deduction amount should be greater than $900 or the income earned by the taxpayer  for the year in addition with $300 (should not be exceeding the regular standard deduction). Income earned by Toby is $2,897, then add

$300 into it.

The correct standard deduction amount would then be $3,197 ($2,897 +300)=$3197.

Standard deduction is the deduction given by the income tax authorities  to the tax payer.

Internal revenue bulletin is the instrument used by the IRS for announcing all the rules.

To know more about Standard deduction here:

brainly.com/question/3158031

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4 0
2 years ago
Keynes would most likely oppose a plan for
Andrei [34K]
Keynes would most likely oppose a plan for government control of all the manufacturing companies.
5 0
3 years ago
On July 31, year 2, Tern Co. amended its single employee defined benefit pension plan by granting increased benefits for service
san4es73 [151]

Answer:

Options Include:

1. Years before Year 1 only.

2. Year 1 only.

3. Year 1 and years before and following Year 1.

<em>4. Year 1 and following years only. is Correct</em>

Explanation:

Prior cost of service is acknowledged whenever a contract is changed to provide added benefits for services previously received by workers.

The amortization of the prior service expense must be acknowledged as an element of the retirement cost during the future service periods of all those workers whom are active on the date of the plan modification and are entitled to receive rewards under the Scheme.

<em>Therefore, prior service costs are expressed throughout the financial statements for Year 1 once the plan was modified and even in the years that follow when it is amortized.</em>

4 0
3 years ago
In order to better compare/contrast costs of living in the various environments gnp/gdp may be adjusted to:
Alex777 [14]
The answer is Purchasing power parity or the PPP. PPP is a hypothesis which expresses that trade rates between monetary forms are in balance when their acquiring power is the same in each of the two nations. Relative acquiring power equality is a financial hypothesis which predicts a connection between the swelling rates of two nations over a predetermined period and the development in the conversion standard between their two monetary forms over a similar period. It is a dynamic rendition of the total PPP hypothesis.
6 0
3 years ago
If you were an investor in a rent-to-own business that takes more than a year to collect revenues while the customers take immed
ratelena [41]

Answer:

I would prefer cash basis over the accrual bases.

Explanation:

Remember accounting entries are prepared on the basis of Accrual Principle. That is transactions are recognized when they meet the definition and recognition criteria of assets, liabilities, incomes and expenses not when cash is received. Taxable Income calculation follows this accrual principle as well.

This means an will mean that as an investor in a rent-to-own business, i will be taxed more often on the Revenues which are not yet paid for and this will be bad for my liquidity.

I would want to have my cash and pay the taxes when i have actually received cash on my revenues so that i wont run into liquidity problems. This is only possible if the cash basis was to be used.

4 0
2 years ago
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