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Nikitich [7]
1 year ago
15

The two functions of financial accounting are to measure business activities and prepare tax returns. True or false

Business
1 answer:
Schach [20]1 year ago
6 0

The two functions of financial accounting are to measure business activities and prepare tax returns. FALSE

<h3>What is a Tax return?</h3>
  • A tax return is a document submitted to a taxing body that lists earnings, outlays, and other pertinent financial data.
  • Taxpayers compute their tax liabilities, set up tax payments, and request refunds for overpaid taxes on their tax returns.
  • Tax returns must typically be filed yearly.
  • In the United States, tax returns including data necessary to compute taxes are filed with the Internal Revenue Service (IRS) or with the state or local tax collecting agency (Massachusetts Department of Revenue, for instance).
  • The IRS or another applicable authority's forms are often used to complete tax returns.

To learn more about Tax return, refer to the following link:

brainly.com/question/27300507

#SPJ4

You might be interested in
What is the depreciation tax shield if EBIT is $600, depreciation is $1,800, and the tax rate is 30 percent
eduard

The depreciation tax shield based on the EBIT, the tax rate and the depreciation is $540.

<h3>How do you find the depreciation tax shield?</h3>

This can be found as:

= Depreciation x Tax rate

Solving gives:

= 1,800 x 30%

= $540

Find out more on the depreciation tax shield at brainly.com/question/24192125.

#SPJ1

5 0
2 years ago
Brankovich Company uses a job-order costing system and has the following data available: Beginning Direct Materials Inventory $2
natka813 [3]

Answer:

$84,000

Explanation:

Open a Raw Materials T - Account and find the Ending inventory of Direct Materials as a Balancing Figure as follows :

Raw Materials T - Account

Debit :

Beginning Inventory                                $26,000

Purchases                                               $148,000

Total                                                         $174,000

Credit:

Requisitioned in Manufacturing             $90,000

Ending Inventory<em>(Balancing figure)        </em>$84,000

Total                                                        $174,000

Therefore,  the cost of the ending inventory of Direct Materials is $84,000

4 0
3 years ago
Sourcing a supply from a small, women-owned business is an example of a corporate social responsibility action to A. E) protect
topjm [15]

Answer:

promote workforce diversity.

Explanation:

Corporate Social Responsibility pertains to corporate responsibility towards society to achieve its goals, missions, and targets.

The organisation could not operate for a longer time without the company's permission because it would harm the community well-being and eventually the organisation needs to shut down its operations.

And we promote or motive or encourage the workforce diversity then it would be an example of corporate social responsibility by considering a supply from a small, owned business

7 0
3 years ago
The Cascade Fresh yogurt company launched a very effective marketing plan strategy. The market responded, and customers flocked
MAXImum [283]

Answer:

The correct answer is C

Explanation:

As the yogurt company, launched a effective plan for the marketing strategy. But the market responded and the consumers flocked to purchase the yogurt. So, it means that the plan does not work in the market.

Therefore, the company need to update the market plan so that the more successful the plan will be it will require a revision and a faster plan.

7 0
3 years ago
Which of the following resemble checks, but differ in that they are payable by the firm issuing them rather than payable by a ba
Softa [21]

Concentration banking Drafts resemble checks, but differ in that they are payable by the firm issuing them rather than payable by a bank

Explanation:

Concentration banking drafts resemble checks in that they are drafts payable to a firm guaranteed an amount of money by one firm directly to them but in the case of they are issued directly by the firm and given directly to the firm supposed to take the money.

In the other case it is the bank that processes the amount for the two firm which makes the process little slower than the demand draft wherein the money is transferred to directly.

6 0
3 years ago
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