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kicyunya [14]
1 year ago
7

martina advises her tax client, breslin baked goods, to disclose a matter by attaching a special form to its corporate tax retur

n. breslin refuses and threatens to replace martina with another cpa. which
Business
1 answer:
Maslowich1 year ago
7 0

In  Case whereby martina advises her tax client, breslin baked goods, to disclose a matter by attaching a special form to its corporate tax return. breslin refuses and threatens to replace martina with another cpa what Martina should do under the tax profession's ethics standards is a) Consider whether to withdraw from the engagement and reevaluate the relationship.

<h3>What is  Ethical standards?</h3>

Ethical standards can be described as the set of principles established by the founders of the organization  so as to be able to  communicate its underlying moral values.

In conclusion, from the case above, she can withdraw from the engagement and reevaluate the relationship.

Therefore option A is correct.

Learn more about ethics at:

brainly.com/question/24606527

#SPJ1

missing options:

Martina advises her tax client, Breslin Baked Goods, to disclose a matter by attaching a special form to its corporate tax return. Breslin refuses and threatens to replace Martina with another CPA. Which statement best describes what Martina should do under the tax profession's ethics standards in this situation?

a) Consider whether to withdraw from the engagement and reevaluate the relationship.

b) Terminate the engagement and report Breslin to the IRS Office of Professional Responsibility.

c) Draft a memo for the files indicating that Breslin is a difficult client.

d) File the return in the manner specified by the client (without the disclosure).

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Answer:

B. False

Explanation:

The days sales in receivable indicates the number of days in which a company receives the payments of its credit sales. A lower number indicates that the business collects the money faster and more efficiently. According to this, the statement is false because the days sales in receivable for baker sales is 35 and for xanadu company is 25 which means that xanadu company is having less difficulty in collecting the money.

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What does liquidity refer to?
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The extent to which a market allows assets to be bought and sold at stable prices.
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The failure to properly record an adjusting entry to accrue an expense will result in an:
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The failure to properly record an adjusting entry to accrue an expense will result in an understatement of expenses and an understatement of liabilities. This is further explained below.

<h3>What are expenses?</h3>

Generally, expenses are simply defined as what it would take or what it would cost to do anything.

In conclusion, Incorrectly recording an accrual adjustment entry will result in a misstatement of both costs and liabilities.

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5 0
2 years ago
Which of the given stakeholders form part of a company’s secondary stakeholders?
zepelin [54]

Explanation:

A company stakeholder can be either an individual group of people or an institution whose actions can affect a business or can be affected by the actions of that business. examples of those stakeholders include government, business, competitors, media groups.

5 0
3 years ago
The before-tax income for Culver Co. for 2017 was $101,000 and $84,100 for 2018. However, the accountant noted that the followin
valentina_108 [34]

Answer:

Corrected income before tax year 2017 = $65,690  

Corrected income before tax year 2018 = $102,467

Explanation:

According to the scenario, computation of the given data are as follow:-

 

Particular                                            Year 2017 ($) Year 2018 ($)    

Income before tax                                            101,000    84,100    

Corrections      

1. In 2017, unearned sales                           -36,200      

Sales added in 2018                                                      36,200    

2. In 2017, understated ending inventory    9,500      

In 2018, overstated opening inventory                      -9,500    

3. Add-wrongly charged interest expenses    13,800            13,800    

Less-actual interest expenses      

In 2017 ($230,000-$14,000)×7%=$216,000×7% -15,120      

In 2018, bond of carrying amount

       =$216,000+($15,120-$13,800)=$217,320      

In 2018, Actual interest expense=($217,320×7%)    -15,212    

4 Add-wrongly charged depreciation expenses      

In 2017=($8,100×10%)                                           810      

In 2018,=($8,100-$810)×10%+$8,500×10% =                      1,579    

Less-actual expenses for repairs                          -8,100    -8,500    

Corrected income before tax                         65,690   102,467    

     

4 0
3 years ago
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