Answer:
Profit, in accounting, is an income distributed to the owner in a profitable market production process (business). Profit is a measure of profitability which is the owner's major interest in the income-formation process of market production. There are several profit measures in common use.
Income formation in market production is always a balance between income generation and income distribution. The income generated is always distributed to the stakeholders of production as economic value within the review period. The profit is the share of income formation the owner is able to keep to themselves in the income distribution process. Profit is one of the major sources of economic well-being because it means incomes and opportunities to develop production. The words "income", "profit" and "earnings" are synonyms in this context.
Answer:
The amount of interest which can be deducted in one year is limited to the net investment income of a taxpayer for that year.
Explanation:
This amount can not be exceeded. Investment income according to the IRS includes:... It does not include eligible dividends or net capital gains other than those that you want to include.
Limitations on investment interest Not all interest that you pay on investment loans are allowed to be deducted. For particular, the IRS forbids registration of certain forms of investment value, including:
1. Home mortgage interest eligible.
2. Value to raise tax-exempt revenue, as if the municipal tax-free bond is to be bought on a margin.
3. Option straddles, which are not available to most investors as an advanced investment strategy.
4.Interest in any passive operation when measuring profit or loss
Answer:
In MBTI, the Sensation/Intuition relates to how we gather information.
Explanation:
- MBTI stands for Myers-Briggs Type Indicator. MBIT use to increase the productivity of a person.
MBTI supporters see the testing system as a valuable help for personal growth and development.
- Sensation/intuition A physical sensation or perception resulting from something that comes into contact with the body or happens to it.
some people feel uncomfortable with the touch of others.
Answer:
1. 20Y3 20Y2
A Sales on account $5,637,500 $4,687,500
B Beginning Accounts receivables $650,000 $600,000
C Ending accounts receivables $725,000 $650,000
Average accounts receivables $687,500 $625,000 [D=(B+C) / 2[
Accounts receivables Turnover 8.2 7.5 [E=A/D]
No of days in sales receivables 44.5 48.7 [F=365 / E]
2. The collection of account receivables has <u>INCREASED</u>. This can be seen in both the <u>INCREASE </u>in accounts receivables turnover and the <u>DECREASE </u>in collection period.
Answer:
c. provide information about the cash receipts and cash payments during a period.
Explanation:
The purpose of statement of cash flows is to report all major cash receipts ( inflows) and cash payments ( outflows) during a period. This includes separately identifying the cash flows relating to operating , investing and financing activities .
The statement of cash flows does more than simply report changes in cash.The statement of cash flows addresses important questions such as how does a company obtain its cash or spend its cash, or explains changes in cash by summarizing, classifying and reporting a company's cash inflows and cash outflows for each period.
So Option C is the best choice
