Answer:
a) Historical Cost principle
b) Economic entity assumption
c) Full disclosure principle
d) Monetary unit assumption
e) Materiality principle
f) Conservatism
g) Matching principle
h) Historical cost principle
Answer:
"a nonprofit-making money cooperative whose members can borrow from pooled deposits at low interest rates."
Answer:substitution
Explanation:The substitution bias is a weakness in the Consumer Price Index that overstates inflation because it does not account for the substitution effect, when consumers choose to substitute one good for another after its price becomes cheaper than the good they normally buy.
when the price of a product in the consumer basket increases substantially, consumers tend to substitute lower-priced alternatives.
Answer:
3.96
Explanation:
A company's Time Interest Earned ratio shows us its ability to pay its debts.
The income before expenses is given as: $575000
The interest expenses = $145000
The question wants us to find time interest earned ratio. We get this by:
Company's initial income/interest expenses
= $575,000/$145,000
= 3.96
This is the correct answer to the question. The right answer was not listed in the options.
Answer:
$14,160,000
Explanation:
Given that,
Pretax accounting income = $52 million
Taxable income = $59 million
Enacted tax rate = 24% for 2021
Tax rate thereafter = 34%
Current portion of income tax expense is determined by the product of enacted tax rate and Taxable income for the period.
Therefore,
Current portion of income tax expense for 2021:
= Enacted tax rate × Taxable income
= 24% × $59,000,000
= $14,160,000