Answer:
$400,000
Explanation:
Since at December 31, Year 5, Tedd's tax advisor believed that an unfavorable outcome was <u>probable</u>. And a <u>reasonable estimate </u>of additional taxes was $400,000 but could be as much as $600,000.
Although after the Year 5 financial statements were issued, Tedd received and accepted an IRS settlement offer of $450,000.
Tedd should have included an amount of $400,000 as accrued liability in its December 31, Year 5 balance sheet
The reason is that according to the International Financial Reporting Standards, a PROVISION must be made as long as the conditions below were obtainable at year end.
- Existing Condition (which in this case is the tax dispute with the IRS)
- Probable Cash Outflow (which Tedd's Tax adviser confirmed)
- Reliable Estimate of Outflow ( which the scenario stated ''A reasonable estimate of additional taxes was $400,000'')
Hence, such 'reasonable estimate is the appropriate amount for inclusion in the financial statements.
Poorly timed discretionary macroeconomic policy can do more harm than good. getting the timing right with fiscal policy is generally <u>more difficult than with monetary policy</u>.
The macroeconomic policy aims to provide stable financial surrounding that is conducive to fostering robust and sustainable financial growth. the key pillars of macroeconomic coverage are economic policy, financial coverage, and change charge coverage. Macroeconomic policy is concerned with the operation of the economic system as an entire.
The 3 essential forms of government macroeconomic policy are economic policy, economic coverage, and supply-facet regulations. different government guidelines along with business, opposition, and environmental regulations. Rate controls, exercised by the government, additionally have an effect on private region manufacturers.
The microeconomic policy is a motion taken via the government to improve resource allocation among companies and industries if you want to maximize output from scarce assets. Macroeconomic coverage is crucial to the authorities' long-time coverage of reducing constraints on growth inclusive of inflation even as improving LT increases.
Learn more about macroeconomic policy here brainly.com/question/3405421
#SPJ4
Answer:
The correct answer is letter "A": Beer prices will go down.
Explanation:
Usually, when two large companies merge they take most or almost all part of their market causing a monopoly. This implies the recently-merged company to set the price of the goods according to what they believe is suitable which does not necessarily match with the consumers' expectations. However, for the companies in the case to prove the government that the merger will benefit the economy, they must show that the price of the beer will go down which is the opposite of what is expected under other regular situations.
A low deductible plan is the type of insurance that will require the driver to pay less out of pocket. If a person has a high deductible plan, the out of pocket payment would be a lot higher. A low deductible plan has much higher premiums that must be paid. The high deductible insurance has much lower premiums. After a wreck that is caused by the driver, most insurances will raise the premiums paid. Unless you with an insurance company that accident forgiveness plans. The correct answer to this question is B. Low Deductible Plan.
Answer:
d. 1.753 pesos/krone
Explanation:
The computation of the received pesos for exchange is shown below
Received pesos = Exchange value of one U.S dollar for Mexican pesos ÷ Exchange value of one U.S dollar for Mexican pesos
= 10.875 ÷ 6.205
= 1.753 pesos/krone
It shows a relationship between the Exchange value of one U.S dollar for Mexican pesos and the Exchange value of one U.S dollar for Mexican pesos so that per pesos/krone can come
