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Llana [10]
2 years ago
15

The taxpayer incorrectly took a $5.000 deduction (eg, incorrectly calculated depreciation) in 2018 and as a result his taxable i

ncome was reduced by $5.000. The taxpayer discovered his error in 2019. The taxpayer must add $5,000 to his 2019 gross inceme in accordance with the tax benefit rule to corect for the 2018 error. (CSLO 1, CSLO 2) True False
Business
1 answer:
yuradex [85]2 years ago
6 0

The taxpayer must increase his 2019 gross income by $5,000 in accordance with the tax advantage rule to make up for the 2018 calculation error. This statement is false.

<h3>What various forms of income tax are there?</h3>

The two types of taxes are direct tax and indirect tax. The term "direct tax" refers to taxes imposed on earned income. Income tax is a great example of direct taxation. The government imposes an indirect tax on a taxpayer in exchange for the goods and services they offer.

<h3>The person who pays income taxes is?</h3>

Income taxes are levied on several types of income, including wages and salaries, investment income, and others. Payroll taxes, which sustain Social Security, are the second-largest source of federal revenue.

To learn more about Income Tax here:

brainly.com/question/17075354

#SPJ4

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The current economy is strong and many people are feeling confident about their future and ability to pay off debt. Because of t
mixas84 [53]

Answer:

They would increase the quantity supplied of loans and increase the interest rate

Explanation:

Monetary policy

This is simply refered to as alterations or changes in the interest rate to alter or influence the level of aggregate demand in an economy that is the demand side policy.

The central banks are known to be regulators of commercial banks and bankers to governments. The interest rate is the price of money. They manages interest rates to influence the money supply. They set the base rate of interest and the base rate influences all other interest rates that commercial banks use (i.e. savings rate, mortgage rate, car loan rate

7 0
3 years ago
TOPIC #2 - Posted Tuesday- The properly classified Balance Sheet 1) Prepare a properly formatted Asset section of the Balance Sh
Darina [25.2K]

<u>Solution and Explanation:</u>

                   A Balance Sheet  is as follows:

Assets

Current assets    

Cash                                     11000  

Trading securities                   6000  

Accounts receivable (net)  24000  

Inventory                             30000  

Prepaid expense                       2000  

The Total current assets                                                         73000

The Long term investment    

Land held for future business site  18000  

The Total investment                                                                  18000

Property,plant and equipment    

Equipment                                    25000  

Less: the Accumulated depreciation

on equipment and furniture      -15000  

Total property,plant and equipment                                 10000

Intangible assets    

Patent                                               4000  

The Total intangible assets                                                            4000

The Total Assets                                                                           105000

6 0
3 years ago
Read the following statement and select the term that matches.
ziro4ka [17]
Matches is the correct term
8 0
4 years ago
As the employees began to leave the meeting room, some were overheard grumbling that those at the top were just profiteers, that
MAXImum [283]
The answer is defensiveness. It is the category as the general tendency to control one’s expression of negative emotion and not all oneself to be influenced by these negative feelings. In addition, self-deception was associated with decreased physiological reactivity to a stressful task while defensiveness was associated with increased physiological reactivity. This difference among self-deception and other deception. 
4 0
3 years ago
Why did early farmers use slash-and-burn agriculture? A. to get rid of pests B. to get rid of old crops C. to keep the soil fert
Sphinxa [80]

C. To keep the soil fertile

the ashes somehow replenishes the soil thus providing nutrients for future crops. If they didn't do this, the soil would be depleted. They also rotated crops so that they didn't deplete the soil. 

Hopefully this helps.


7 0
3 years ago
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