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svetlana [45]
3 years ago
12

PHRASE TERM 1. A "plug" for the net effect of the current tax liability and changes in deferred tax assets and liabilities. 2. N

o tax consequences. 3. "More likely than not" test. 4. Produces future taxable amounts or future deductible amounts. 5. Noncurrent.
Business
1 answer:
lesya [120]3 years ago
3 0

This question is incomplete, here´s the complete question.  

Listed below are 5 terms followed by a list of phrases that describe or characterize each of the terms. Match each phrase with the number for the most correct term.

Terms: Balance sheet classification, Income tax expense, Permanent difference, Temporary difference, Valuation allowance

1. A "plug" for the net effect of the current tax liability and changes in deferred tax assets and liabilities.

2. No tax consequences.

3. "More likely than not" test.

4. Produces future taxable amounts or future deductible amounts.

5. Noncurrent.

Answer:

1. A "plug" for the net effect of the current tax liability and changes in deferred tax assets and liabilities.

Income tax expense

2. No tax consequences. Permanent difference

3. "More likely than not" test. Valuation allowance

4. Produces future taxable amounts or future deductible amounts. Temporary difference

5. Noncurrent. Balance sheet classification

Explanation:

1. A "plug" for the net effect of the current tax liability and changes in deferred tax assets and liabilities. Income tax expense.

A deferred tax asset could be used to lessen taxable income.

A deferred income tax liability is the result of the difference between the income tax expense in the income statement and the income tax payable.

2. No tax consequences. Permanent difference

because

Since a permanent difference can never be erased, it won´t create deferred taxes.

3. "More likely than not" test. Valuation allowance

A valuation allowance is required agains a deferred tax asset if it´s "more likely than not" that part or even all of the deferred tax asset won´t be realized.

4. Produces future taxable amounts or future deductible amounts. Contrary to the permanent difference case, a temporary difference will produce future taxes.

5. Noncurrent. Balance sheet classification

Noncurrent assets appear in a balance sheet as investment, property, plant, equipment, intangible assets.

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Paid $7,000 of accrued taxes at the time the plant site was acquired. choose an account title 2. Paid $200 insurance to cover a
xenn [34]

Answer: Please refer to Explanation

Explanation:

Hello. Your question was not complete as it lacked certain options.

I have attached it to this answer.

1.Paid $7,000 of accrued taxes at the time the plant site was acquired. LAND because it was an expense that was needed to acquire the land so it is capitalized

2. Paid $200 insurance to cover a possible accident loss on new factory machinery while the machinery was in transit. EQUIPMENT

3. Paid $850 sales taxes on a new delivery truck. EQUIPMENT.

4. Paid $21,000 for parking lots and driveways on the new plant site. choose an account title. LAND IMPROVEMENTS.

5. Paid $250 to have the company name and slogan painted on the new delivery truck. choose an account title. EQUIPMENT

6. Paid $8,000 for installation of new factory machinery. choose an account title. EQUIPMENT

7. Paid $900 for a 2-year accident insurance policy on the new delivery truck. choose an account title. PREPAID INSURANCE

8. Paid $75 motor vehicle license fee on the new truck. LICENSE EXPENSE.

4 0
3 years ago
For each of the following examples, identify whether a positive or negative externality is present and whether there will be too
iris [78.8K]

Answer:

A. Landscape lawns produce positive externality.

B. Sports vehicle generates a positive externality

C. Walk to work creates positive externality.

D. Cigarettes create a negative externality.

Explanation:

Positive externality occurs when society gets benefit from a persons act. Susan has created lawns near her house and there are beautiful flowers in the lawn. This will be relaxing for those who pass near by the lawns. There will be fresh air coming from the lawn and society will look pleasant.

Negative externality is one in which society is harmed by the act of a person. This happens when Anita smokes at a bus stop. There are other travelers who will be present at the bus stop might be harmed from the smoke which arises from the cigarette.

8 0
3 years ago
"Discuss the financial and operational implications for airlines as they try to offer the newest technology services?"
Oksana_A [137]

Answer with Explanation:

The introducing of newest technology would definitely have financial and operational implications. These implications are given as under:

Financial implications

  • Cost Reduction: The operational costs would be reduced by investing in the newest technology which will make the cash flow position better with time.
  • Benefits Lost Risk: It is possible that the investment might not bring value to the company because of any emergent problems, whose mitigation requires incurring of additional costs.
  • Cost Advantage: The lower operational cost can drive higher sales because the company will be charging lower fare prices to its customer thus giving Cost Advantage.
  • Investing in newest technology might not bring value to the company because it is not attracting potential customers but it might pay off later in the form of developed customer loyalty.

Operational implications

  • Implementing a newest technology might improve the operational processes through which the customer go through, which would increase the customer satisfaction.
  • Implementation problems of newest technology.
  • Long term Customer retention will easy for the airline company due increased customer satisfaction.
  • Operational efficiencies related to services will process the customer fastly saving the companies precious time wasted in these process thus reducing the future human resource cost.
  • Using robots might bring adverse marketing because the people might think that the human resource are no more required and risks associated with the acceptance of technology due to cultural differences.
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7 0
3 years ago
After a major earthquake, the San Francisco Opera Company is offering zero coupon bonds to fund the needed structural repairs to
tekilochka [14]

Answer:

Buster Norton and the Bonds of San Francisco Opera Company

If Mr. Norton purchases three of these bonds today, in 10 years from today at maturity, he will receive:

= $6,000.

Explanation:

a) Data and Calculations:

Face value of each zero coupon bond purchased = $2,000

Number of bonds purchased by Norton = 3

Value of bond investments at maturity = $6,000 ($2,000 * 3)

Maturity period of the San Francisco Opera Company bonds = 10 years

Annual Yield to Maturity of similar bonds in the market = 12%

From an online financial calculator:

Present value of bonds = $1,932 (with each as $644 ($1,932/3))

N (# of periods)  10

I/Y (Interest per year)  12

PMT (Periodic Payment)  0

FV (Future Value)  -6000

 

Results

PV = $1,931.84

Total Interest $4,068.16

3 0
2 years ago
Dee's suggestion that the company needed more control over the way its products were displayed, priced, and promoted prompted a
aleksandrvk [35]

Answer:

D.administered distribution system.

Explanation:

Administered Distribution System is a system in which producer manages all the marketing functions at the retail outlets.

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