Answer:
She can deduct the full $120,000. the answer is $120,000.
Explanation:
Therefore, M is following cash basis of accounting , She can deduct the full $120,000 amount. Under cash system, expenses are recorded when cash is paid irrespective of whether it is accrued or not.
Answer:
The correct answer is letter "D": the revenue a government created by printing money.
Explanation:
<em>When the government prints more money, there will be more supply of it. A higher supply of money tends to increase general prices causing inflation. Therefore, households will have to pay more money for goods and services which implies they will be paying more taxes, benefiting the government since it will have more money to finance its projects.
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The previous practice mentioned is implemented by governments that are not willing to increase the interest rate directly.
Answer:
The total income tax expense for 2019 =152.000. Is not available in the options given by the exercise.
Explanation:
- Tax on insurance expense deductible for accounting purposes in 2019= 70000*40%=28.000
- Income tax expense for 2019 = 180.000-28.000=152.000
Answer:
the predetermined overhead rate is $12.10
Explanation:
The computation of the predetermined overhead rate is shown below:
The Predetermined overhead rate is
= (Estimated total fixed manufacturing overhead ÷ Estimated direct labor hours)
= ($121,000 ÷ 10,000)
= $12.10
hence, the predetermined overhead rate is $12.10
Answer:
If an activity has a slack value greater than zero, it needs to be a critical activity
Explanation:
The false statement in the group of answer choices is If an activity has a slack value greater than zero, it needs to be a critical activity this is because for an activity to be considered a critical activity its slack value has to be equal to zero and not greater than zero,
activities with critical value greater than zero are considered just activities and not critical activities because there is time range given to the activity
