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2 years ago

The general term used to indicate delaying the recognition of an expense already paid or of a revenue already received is

Business

1 answer:

slavikrds [6]2 years ago

5 0

deferral is the answer.

A deferral in accrual accounting is an account on which income or expenses are recorded at a later date. Pensions, surcharges, taxes, income, etc. Accruals and deferrals can be viewed as either assets or liabilities, depending on the type of accrual. See also boundaries.

deferral means money paid or received before the product or service is offered. Here is an example of postponement: Insurance fee. Subscription-based services (newspapers, magazines, TV shows, etc.) Prepaid rental.

deferral is a payment made in one accounting period but not reported until the next accounting period. For example, if you made a payment at the end of the year but did not report until the new year, this will be postponed.

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In step four of the PACED process, you should enter the alternatives and criteria into a _____.

Ludmilka [50]

Explanation:

P= Step 1: Define the Problem

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3 years ago

Read 2 more answers

Finch Company began its operations on March 31 of the current year. Finch has the following projected costs: April May June Manu

ivolga24 [154]

Answer:

c.$188,150

Explanation:

April May June

Manufacturing costs* $157,700 $198,300 $201,000

Payment April Costs $118.275 $39,425

<u>Payment May Costs </u><u> 148,725</u><u> 49,575</u>

Cash Payments $ 188,150

None other costs will be paid in the month Of May.

*Of the manufacturing costs, three-fourths are paid for in the month they are incurred; one-fourth is paid in the following month. **Insurance expense is $870 a month; however, the insurance is paid four times yearly in the first month of the quarter, (i.e., January, April, July, and October). ***Property tax is paid once a year in November.

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3 years ago

Gas costs $3 per gallon at a nearby gas station. there is a gas station about an hour away that has gas for sale for $2.90 per g

charle [14.2K]

The correct option is C.

He will likely lose money by driving an hour to get the discount gas.

<h3>What is the opportunity cost ?</h3>

When compared to engaging in an alternative activity that offers a higher return on value or benefit, the opportunity cost of a specific activity option is the value or benefit that would be lost by doing that activity.

The word "opportunity cost" in economics describes the worth of what you must forgo in order to chose something else. It's a value of the path not traveled, to put it briefly.

<h3>Given that:</h3>

Gas is $3 per gallon.

The price per gallon is $2.90.

With 10 gallons of gas, the Salvador intends to go for an hour.

This means that the saver will have to spend money on gas by driving the car.

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I understand that the question you are looking for is:

Gas costs $3 per gallon at a nearby gas station. There is a gas station about an hour away that has gas for sale for $2.90 per gallon. Salvador plans to drive an hour to and from this gas station to fill his car up with 10 gallons of gas. What should Salvador understand before he launches into his plan?

A. The $30 savings are worth the drive to the other gas station.

B. He will save $3 by driving an hour to get the discount gas.

C. He will likely lose money by driving an hour to get the discount gas.

D. It is always better to buy something at the lowest price available.

8 0

1 year ago

Harry's Pepperoni Pizza Parlor produced 10,000 large pepperoni pizzas last year that sold for $10 each. This year Harry's again

Neko [114]

Answer:

a) increased nominal GDP by $20,000, but left real GDP unchanged.

Explanation:

Gross domestic product is the sum of all final goods and services produced in an economy within a given period which is usually a year.

Nominal GDP is GDP calculated using current year prices.

Real GDP is GDP calculated using base year prices.

Nominal GDP = 1000 × $12 = $12,000

Nominal GDP increased by $12,000 but real GDP remained unchanged because the same amount of pizzas was produced both years.

I hope my answer helps you

4 0

3 years ago

Isabella files her income tax return 90 days after the due date of the return without obtaining an extension from the IRS. Along

Sergeu [11.5K]

Answer:

Penalty for Failure to Pay = $30

Penalty for Failure to File = $270

Explanation:

given data

income tax return = 90 days

return with remits a check = $2,000

a month = 30 days

solution

we know as per IRS guidelines

penalty for failure to pay is usually half of 1% of the unpaid taxes for each month and penalty for filing late is usually 5% of the unpaid taxes for each month

so penalty for Failure to pay is

Penalty for Failure to Pay = Tax amount × Penalty rate × No of month late .......................1

Penalty for Failure to Pay = $2,000 × (1/2 of 1%) × 3 months

Penalty for Failure to Pay = $2,000 × 0.005 × 3 = $30

and

penalty for Failure to file is as

Penalty for Failure to File = ( Tax amount × Penalty rate × No of month late) - Penalty for failure to pay ....................2

Penalty for Failure to File = ( $2,000 × 5% of 3 months ) - $30

Penalty for Failure to File = ( $2,000 × 0.05 × 3 ) - $30

Penalty for Failure to File = $270

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3 years ago