Answer:
FASB ASC 835-20-15-8
Explanation:
This section explicitly states that in order for interests to qualify for interest capitalization, the assets purchased through the loan must be getting ready for its intended use. E.g. if you want to capitalize the interests on the land, you must carry out activities necessary to prepare it for its intended use. Or if you purchase a machinery, you must be installing it in order to get it ready to produce.
Answer:
Protected status
Explanation:
In simple words, the trade secret is said to be protected when it has an economic value to the founding company or the company handling it and anyone who is exposed to the information regarding that is legally bound to not to disclose it.
Thus, from the above we can conclude that the given scenario indicates protected status.
Answer:
mack tax basis in prairee on 31 december = 307000
correct option is a. $307,000
Explanation:
given data
tax basis = $320,000
net business income = $152,000
services rendered = $4,000
distribution = $50,000
solution
we know allocated income is here
allocated income = net business income - guaranteed payment
allocated income = 152000 - 4000
allocated income = 148000
so
mack share of net income is 25 % of allocated income
mack share of net income = 37000
so
mack tax basis in prairee on 31 december = 320000 + 37000 - 50000
mack tax basis in prairee on 31 december = 307000
An unfavorable balance of trade occurs when the value of a country's import exceeds the export.
<h3>What is an import?</h3>
It should be noted that an import simply means the goods and services that are brought into a country from another country.
In this case, unfavorable balance of trade occurs when the value of a country's import exceeds the export.
Learn more about trade on:
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Answer: <u><em>The accounting for customer food checks by the supervisor.
</em></u>
An unfitting classification of responsibilities existed because the supervisor was accountable for accounting for customer food checks and depositing acknowledgment and had the quality to set POS totals .
<u><em>Therefore, the correct option is (a)</em></u>