Answer:
Yes, Sarah is liable for the $5,000 bill since she ordered the supplies and signed the contract using her own name.
She is responsible for the money owed to the medical supply facility, but if this purchase practice was common and happened before, she can also demand that the former partners pay her back.
Tax savings generated from deductions are considered cash inflows.
Answer: false
Hope this helps
Answer:
The answer is below
Explanation:
Given that Section 1231 assets are a term that is used to describe the real or depreciable trading property acquired for more than a year. For example, landed property, buildings, etc.
Hence, in this case, the correct answer or statement to the question are:
1. If Section 1231 assets are sold and the taxpayer has a realized loss, the loss is a fully deductible ordinary loss
2. If Section 1231 assets held long-term are sold for a realized gain, the taxpayer has a potential long term capital gain that may be taxed at favorable capital gains rates but this result often does not occur
Answer:
EVA = -$180,000
Explanation:
given data
net income = $600,000
taxable income of $1,000,000
operating profit = $1,200,000
total financial capital = $9,000,000
tax rate = 40%
WACC = 10%
solution
we get here EVA that is express as
EVA = NOPAT - Invested Capital × WACC ..................1
and here
NOPAT = EBIT × ( 1 - Tax Rate ) .........2
put here value
NOPAT = operating profit × (1 - Tax Rate)
NOPAT =$1,200,000 × (1 - 0.40)
NOPAT =$720,000
so put in equation 1 we get
EVA = NOPAT - Invested Capital × WACC
EVA = $720,000 - $9,000,000 × 10%
EVA = -$180,000
Answer:
Explanation:
Step 1:
the auditor is required to provide reasonable assurance for the financial statement audited.To provide such reasonable assurance,appropriate evidence must be obtained to confirm that no material misstatement material is present in the financial statement
Step 2:
For each statement select true or false in the following manner
a. A recent improvement in computer hardware is the ability to automatically produce error listings. Previously, this was possible only when provisions for such a report were included in the program.
FALSE
b. The control of input and output to and from the information systems department should be performed by an independent data control group.
TRUE
c. An internal-audit computer program that continuously monitors IT processing is a feasible approach for improving internal control in OLRT systems.
TRUE
d. An internal label is one of the controls built into magnetic tape drive hardware by the hardware manufacturers.
FALSE
e. A limit test in a computer program is comparable to a decision that an individual makes in a manual system to judge a transaction's reasonableness.
TRUE
f. A principal advantage of using magnetic tape files is that data need not be recorded sequentially.
FALSE
g. A major advantage of disk files is the ability to gain random access to data on the disk.
TRUE
h. The term grandfather-father-son refers to a method of protecting computer records rather than to generations in the evolution of computer hardware.
TRUE
i. When they are not in use, tape and disk files should be stored apart from the computer room under the control of a librarian.
TRUE
