Answer:
e. All of the above are tax deductible.
Explanation:
As per IRS time or service donated is not tax deductible.
Answer:
The answer is B.
Explanation:
Some business transactions are so huge or large to the extent that there might be omission or error in recording transactions when they occur.
Adjusting entries are done to update entries for previously unrecorded expenses or revenues. They are usually done at the end of the months.
Since accrual methods are the most preferred, they are done to make Financial statement achieve the objective of 'completeness'
Answer:
Conformity
Explanation:
Conformity is an appraisal principle which states that the accurate value of a property tends to be created and then prolonged in a situation where the various features of the property meets up with the different demands of the market.
The basic principle of conformity describes how a particular property is suitable to be located in its surrounding. This is the main reason why different houses are built in the same pattern as the other houses situated in the area. This therefore increases the value of the property.
Because sometimes the check written after the statement closing dates.
Lets say a company do a closing statement on December 26.
A check written between that date until the end of period ( December 26 - December 31), that transaction simply won't appear on the book because the company already closed the statement on December 26
