Answer:
Option c. is correct
Explanation:
Under the Golsen rule, the Tax Court must follows the Court of Appeals such that the court of appeals has direct jurisdiction over the taxpayer. The Court is said to reach a decision without calculating the tax when a Tax Court decision is said to be entered under Rule 155.
In this question, The Golsen rule applies here and weakens the legal justification for the deduction
Answer:
The answer is absorption costing.
Explanation:
This method is used to indicate that all costs have been absorbed by the units produced, and includes the following costs (fixed and variable):
1. Direct labor.
2. Direct materials.
3. Fixed manufacturing overhead.
4. Variable manufacturing overhead.
Answer:
Answer 2 : This inventory system computes and records costs of goods sold at the end of the period.
Explanation:
The time at which records of costs of goods sold is done determines a company`s inventory system.
Two inventory systems exist which companies can use in their business which are Periodic and Perpetual inventory systems.
Periodic Inventory System
In this system recording of cost of goods sold is done at the end of a certain period.It could be after a week, month or year.This is the type is system that is being explained in the question.
Perpetual
The other is the other system of recording cost of goods sold. In this system cost of goods sold is computed at end of each sale ( at the time of sale)
Hence it is important to note when the count of inventory is done. If at the end of a period then its Periodic and when count is done after every sale then that is Perpetual.
Answer: Law of demand
Explanation:
The law of demand is defined as when the quantity an the price of the products and the services are increased then the demand the the similar products get decreased as it is inversely proportional with each other.
The other factors or the conditional are become equal or constant and this is also known as the elastic demand. The law of demand is refers to the relationship between price and the quantity of products in the market.
Therefore, Law of demand is the correct answer.
Answer:
Option "A" is the correct answer to the following statement.
Explanation:
Business Entity Assumption state that businessman and business are a different entity.
Under the Business Entity Assumption, Personal assets and Company assets are always different, Personal assets will never show in the Company's balance sheet.
In the case of Michel McNamee his bank account and personal home in not recorded in the company's book.
