Labor, privacy, and health
Answer:
The correct option is;
B. Companies use GAAP when preparing financial statements
Explanation:
Generally Accepted Accounting Principles (GAAP) are the guidelines with regards to the standards, principles, practices and procedures of financial statement compilation by accountants issued by the Financial Accounting Standards Board (FASB). It is a requirement that all publicly quoted companies make use of GAAP for their financial compilation.
GAAP comprises of the generally accepted accounting records reporting and recording methods as well as policy board standards of accounting procedures.
Answer:
there is an increase in taxes of $52,192
Explanation:
The computation of the net payment or saving is shown below:
Given that
Book value = $450,000
Sale value = $636,400
since the sales value is more than the book value so here the capital profit is there
Therefore capital profit would be
= $636,400 - $450,000
= $186,400
Now tax would be
= $186,400 × 28%
= $52,192
So there is an increase in taxes of $52,192
Answer: Option C
Explanation: Foreclosure is something that occurs if the mortgage is not paid by a borrower. In fact, it is a judicial process through which the person relinquishes all ownership rights.
If the owner is unable to settle off the outstanding loans or sell property through a short sale, then the estate will go to an exchange for foreclosure. If the estate does not sell then, it will be taken over by the lender.
When a lender loans you money without any collateral (credit card debt, for instance), it can take you to court for failure to pay, but it can be very hard to collect money from you.
Lenders often sell this sort of debt to outside collection agencies for pennies on the dollar and write off the loss. This is considered an “unsecured loan.”
