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ohaa [14]
1 year ago
11

Losses from ________ exposure generally reduce taxable income in the year they are realized. ________ exposure losses may reduce

taxes over a series of years.
Business
1 answer:
VMariaS [17]1 year ago
6 0

Losses from <u>transaction</u> exposure generally reduce taxable income in the year they are realized. <u>Operating </u>exposure losses may reduce taxes over a series of years.

Transaction exposure is the extent of uncertainty companies concerned in international exchange face. Specifically, it's far the chance that currency exchange quotes will fluctuate after a company has already undertaken a financial duty.

Taxable income is the part of your gross income that the IRS deems a problem with taxes. It includes each earned and unearned profit. Taxable earnings are normally less than adjusted gross income because of deductions that reduce it.

Gross profits consist of all income you obtain that is not explicitly exempt from taxation below the Internal Sales Code (IRC). Taxable profits are the portion of your gross earnings that's sincerely a problem with taxation. Deductions are subtracted from gross profits to reach your amount of taxable earnings.

Learn more about Transaction exposure here brainly.com/question/15021490

#SPJ4

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On January 1, 2019, Brooks, Inc., borrows $90,000 from a bank to purchase machinery. Brooks signs a 5 percent installment note r
klasskru [66]

Answer:

A Journal entry for Brooks Incorporation on January 1, 2019 which is shown below

Explanation:

Solution

Given that:

           JOURNAL ENTRY FOR BROOKS INCORPORATION

Date               General Journal Debit Credit

Jan 01 2019                Cash        90000

                               Notes Payable          90000

Thus

A Journal entry was recorded for Brooks Incorporation.

Here, the cash of $90,000 was recorded at the debit side of the Journal.

While the notes payable of $90,000 was also recorded on the credit side

7 0
3 years ago
A business chartered by a state that legally operates as a separate entity from the owner(s) is called
Svetllana [295]
A business operated by state legally...... is called corporation 

7 0
3 years ago
Read 2 more answers
Which of the following is not correct?a. If the inflation rate exceeds the nominal interest rate, then the purchasing power of a
lilavasa [31]

Answer:

The options which is NOT correct is C.

Purchasing power does not increase with inrease in the rate of inflation. There is an inverse relationship between inflation and purchasing power of money.

Explanation:

Inflation refers to the overall increase in prices of goods and services and the erosion of the power of the currency to purchase those goods and services. In otherwords, when inflation happens, one requires more dollar bills to purchase same unit of goods or services.

Deflation is the opposite of inflation. It refers to the decrease in the prices of goods and services and is usually accompained by an increase in the purchasing power of the currency.

Nominal interest rate simply put is the interest payable on a loan without considering processing fees, compounding interest payable and the erosion of the value of such money.

Cheers!

             

4 0
2 years ago
A basic objective of a CPA firm is to provide professional services that conform with professional standards. Reasonable assuran
Vsevolod [243]

It should be noted that basic objective of a CPA firm is to provide professional services, and this is done by system of quality control.

With the establishment of quality control policies as well as procedure, reasonable assurance can be provided.

<h3>What are objective of a CPA firm?</h3>

The objective of a CPA firm is to be in control of the system and regulate the system activities.

objective of a CPA firm at;

brainly.com/question/14175988

6 0
2 years ago
You are an insurance salesman. If you make 12% on all insurance sales and sold an average $35,000 / month, how much money did yo
Zigmanuir [339]

Answer:

$50,400

Explanation:

To do this first start by multiplying .12 x 35,000. The answer should be $4,200. After this multiply 4,200 by 12 in order to get the amount of money earned over a 12 month period. This will give you $50,400.

5 0
3 years ago
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