1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
FinnZ [79.3K]
1 year ago
9

Generally, real estate taxes for a tax year are divided between the buyer and the seller based on ______.

Business
1 answer:
LenKa [72]1 year ago
6 0

In general, real estate taxes are divided between the buyer and seller based on the number of days each party held (or will hold) the property during the tax year.

<h3>What is Property tax?</h3>
  • Real estate taxes and property taxes are the same things.
  • They are levied on the majority of properties in the United States and paid to state and local governments.
  • Property taxes (or real property taxes) generate funds that are generally used to help pay for state and local services.
  • In general, real estate taxes are divided between the buyer and seller based on the number of days each party held (or will hold) the property during the tax year.
  • Investors can defer taxation by selling a property investment and using the proceeds to buy another property in a 1031-like-kind exchange.
  • Landowners can borrow against their current property's equity to make other investments.

Therefore, generally, real estate taxes for a tax year are divided between the buyer and the seller based on the number of days each party held (or will hold) the property.

Know more about Property tax here:

brainly.com/question/13887483

#SPJ4

You might be interested in
Activity based costing _____________
Ilia_Sergeevich [38]

Answer:

1. groups costs into meaningful buckets that are then distributed based on the activity or product they support.

Explanation:

Activity based costing basically categorizes various overheads into different activities, that leads to charge of overheads based on different activities.

In this manner overheads that shall be charged on some standard products based on the activities involved is charged accordingly, and not based on standard overhead allocation rate.

Basically the overheads are divided into various activities and then distributed  to each product based on the volume of activity in the manufacturing process of such activity.

7 0
2 years ago
Segregation of duties controls dictates that the collection and recording functions be kept separate from each other. However, t
nekit [7.7K]

Answer:

Option D All of the above statements are correct.

Explanation:

The solution of the issue is software integration and making flow of information on timely basis across the company. The recommended solutions given in the question are correct because:

  1. Establishing a lockbox arrangement is similar to having a single company bank account. This means that the company will have a confirmation from the bank that the payment is received by the bank from customers.
  2. The remittance advice sent with payment helps to solve the misunderstanding, assist in recording transaction to keep the system updated and provides resistance to fraudulent practice.
  3. The mailroom personnel who require mailing of trade receivable balance which the customers owe to company and trade payable balance which the company owes to suppliers. This avoids the company paying illegitimate amounts and receiving the amounts which the customers actually should pay to the company.

So all of the statements are correct.

5 0
3 years ago
Andrew Flint is the CEO of a small, publicly held company based in Idaho Falls, Idaho. Flint earned $76,000 last year as CEO. In
Natasha2012 [34]

Answer:

D, Flint can simply write ot the SEC to voice his concerns.

Explanation:

Since Flint does not have a case that warrants a court challenge but rather an observation, Flint can simply write to the SEC to intimate them about his observations and/or findings, as well as let the SEC know the position of his company on the rule being proposed by it.

Cheers.

6 0
3 years ago
actionow and becca enter into an oral contract in which becca agrees to work on a project for actionow’s living opportunities ce
JulsSmile [24]

Based on the fact that ActioNOW and Becca entered into an oral contract where Becca agrees to work on a project for ActioNOW for eighteen months, the enforcers of this contract are d. none of the choices.

<h3>Who can enforce this contract?</h3>

This transaction between Becca and ActioNOW was an oral contract which means that it falls under the Statute of Frauds. However, for an oral contract to be enforceable under this Statute, the goods or services exchanged have to be less then $500 in value.

The services or goods also have to be less than 1 year in duration. Because Becca and ActioNow agreed for a contract of 18 months which is more than a year, this contract is not enforceable under the Statute of Frauds and so the government cannot enforce this contract.

Options include:

  • a. ActioNOW.
  • b. Becca.
  • c. any third party, such as ActioNOW’s clients.
  • d. none of the choices

Find out more on the Statute of Frauds at brainly.com/question/14854791

#SPJ1

8 0
1 year ago
Demonstrate how workplace discrimination undermines organizational effectiveness.
snow_lady [41]

Answer:

Workplace discrimination prevents the firm from using the full potential of those employees that are being discriminated against.

Explanation:

For example, if the firm discriminates against a specific group of people when hiring (for example, it can discriminate against older people), the firm could lose valuable potential employees that could have provided great skill and experience for the firm.

If the firm practices discrimination against employees, the operation in the company will not be as streamlined as it could be against discrimination because those who are being treated poorly will be less motivated and have lesser output.

6 0
3 years ago
Other questions:
  • In response to the financial crisis that began in 2007, the government began to bail out banks deemed "too big to fail." Critics
    12·1 answer
  • Jackpot Mining Company operates a copper mine in central Montana. The company paid $2,000,000 in 2021 for the mining site and sp
    5·1 answer
  • You have $7,863 you want to invest for the next 34 years. You are offered an investment plan that will pay you 11.8 percent per
    15·1 answer
  • The results of the experiment performed in the passage, and the model proposed in response, suggest that what relationship exist
    5·1 answer
  • Suppose that Denver Financial Co. expects the exchange rate of the New Zealand dollar (NZ$) to appreciate from its current level
    10·1 answer
  • Which of the following approaches for calculating the market value of a property involves estimating the dollar value associated
    6·1 answer
  • If the sales revenue is $150,000 and the margin of safety is $30,000, then the break-even
    6·1 answer
  • if a business owner becomes aware of a shortage in the market for the good or service he or she produces, he or she is likely to
    5·1 answer
  • In the last two years, BMW AG, the Bavarian auto maker, has developed a car made primarily from carbon-fibers that is not only l
    14·1 answer
  • If prices are rising, which inventory cost flow method will produce the lowest amount of cost of goods sold?.
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!