Answer:
D) Only $7,000 of the office expenses can be deducted; the remaining $1,000 can be carried forward to future tax years.
Explanation:
Since Gene's profit before home expenses is only $7,000, he can only deduct up to $7,000 for this year. That way his net profit will be $0. The remaining $1,000 must be carried forward so that he can use them in the future, probably next year he will add them to his deductions. If a business losses money, the government pay you anything, taxes only work one way, you have to pay.
Answer:
Unemployment rate = 3.6%
Explanation:
Unemployment is the number of people who are willing to work and are actively seeking work but are unable to find it. The unemployment rate is the unemployed / total number of people in the labor force x 100.
In the above scenario, the unemployed is 3 million people. The others are either already employed, unavailable, unwilling or not seeking work.
The labour force comprises of those who are employed and unemployed, that is 80million + 3million = 83 million.
Hence, unemployment rate = (3/83) x 100 = 3.6%
Answer:
Explanation:
Step 1:
the auditor is required to provide reasonable assurance for the financial statement audited.To provide such reasonable assurance,appropriate evidence must be obtained to confirm that no material misstatement material is present in the financial statement
Step 2:
For each statement select true or false in the following manner
a. A recent improvement in computer hardware is the ability to automatically produce error listings. Previously, this was possible only when provisions for such a report were included in the program.
FALSE
b. The control of input and output to and from the information systems department should be performed by an independent data control group.
TRUE
c. An internal-audit computer program that continuously monitors IT processing is a feasible approach for improving internal control in OLRT systems.
TRUE
d. An internal label is one of the controls built into magnetic tape drive hardware by the hardware manufacturers.
FALSE
e. A limit test in a computer program is comparable to a decision that an individual makes in a manual system to judge a transaction's reasonableness.
TRUE
f. A principal advantage of using magnetic tape files is that data need not be recorded sequentially.
FALSE
g. A major advantage of disk files is the ability to gain random access to data on the disk.
TRUE
h. The term grandfather-father-son refers to a method of protecting computer records rather than to generations in the evolution of computer hardware.
TRUE
i. When they are not in use, tape and disk files should be stored apart from the computer room under the control of a librarian.
TRUE
Answer:
d. $2,676
Explanation:
The computation of the horizontal value is shown below:
FCF1 = (100 × 1.06) = 106
FCF2 = (106 × 1.06) = 112.36
FCF3 = (112.36 × 1.06) = 119.1016
FCF4 = (119.1016 × 1.06) = 126.247696
FCF5 = (126.247696 × 1.06) = 133.8225578
Now
Horizon value is
= FCF5 ÷ (Cost of capital - Growth rate)
= 133.8225578 ÷ (0.08 - 0.03)
= $2,676
Hence, the correct option is d.
Answer:
To ensure that the outsourcing initiative succeeds, even as personnel, business needs, and operating conditions change
Explanation:
Outsourcing
This is simply regarded as a form of an arrangement through which one company in contact with another organization mainly to give or provide services that ordinarily could be provided by company employees.
Reasons why organizations outsource
1. To cut costs
2. To improve focus
3. To upgrade capabilities and services
4. Fasten or accelerate time to market etc.
There are several issues associated with outsourcing. They includes:
1. There is the problem of decreasing employee Morale
2. Quality problems
3. Legal issues
3. Negative impact on customer relationships and satisfaction
4. Data security and integrity issues etc.
The objective of outsourcing is to save money and/or provide better service. It aim to lessen or free up development staff to cutoff peaks and valleys in the staffing cycle.
