Answer: Tax lien
Explanation:
Tax lien could be defined as a federal obligation which the government carries out when you fail to pay tax debt. The government accumulates the total tax.
The property owner got exposed as regards tax payment plan which was not paid.
federal tax lien is the government's legal claim against your property when you neglect or fail to pay a tax debt. ..
Answer:
What would be the impact on January 1, 2015, the date of the sale?
The following journal entries should be made to register the sale:
January 1, 2015: 2 cars are sold
- Dr Cost of Goods Sold 37,000
- Cr Merchandise Inventory 37,000
- Dr Accounts Receivable 50,000
- Cr Sales Revenue 50,000
On January 30, 2015 Outback Subaru Limited received payment in full from the town for the cars. What would be the impact of this transaction on this date?
The following journal entry should be made to register the payment:
January 30, 2015: the local government paid the cars
- Dr Cash 50,000
- Cr Accounts Receivable 50,000
Answer:
The degree to which affected parties can observe relevant aspects of transactions ordecisions is called Transparency
Explanation:
Business Dictionary defines Transparency as the Minimum degree of disclosure to which agreements, dealings, practices, and transactions are open to all for verification.
Reference: “What Is Transparency? Definition and Meaning.” BusinessDictionary.com
