Answer:
PART A
A constructive receipt is a term often used in both accounting and taxation to describe the taxation of an income even when the income had not been received by the person being taxed.
IMPORTANCE OF CONSTRUCTIVE RECEIPTS
It guarantees the early payment of taxes without undue delays from the tax payer.
It ensures effective taxation by effective tracking of the tax payers.
PARTB
(B) Under the concept of constructive receipt, income is taxed when it becomes available to the tax payer. The taxpayer cannot defer the tax by refusing to accept payment.
Explanation:
Constructive reciept is of great importance and relevance in the field of cost accounting and taxation,it guarantees early payment of taxes and effective tracking of tax payers by the regulatory or taxation bodies.
Under the concept of constructive reciept, income is taxed when it becomes available to the tax payer and it can not be deferred by refusing to accept payment.
Answer:
a.has the right to inspect partnership books and records at all reasonable times.
Explanation:
A general partner is that partner that has responsibility for the actions of the business. The action or inaction of a general partner legally binds the business/partnership to other parties.
The general partner is also personally liable for all the business's obligations.
As such, the general partner has the right to inspect partnership books and records at all reasonable times.
The right option is a,
Answer:
False
Explanation:
The scenario described above is called Showrooming, where customers just go to a store to find out about various products. They do not buy and look for alternative cheap options.
On the other hand, automated retailing occurs when products are stored in a machine that can dispense to customers.
An example is a soda vending machine.
Answer:
Chain of Command and Unity of Command
Information and Intelligence Management
Explanation:
Chain of Command dives into the hierarchical structure of the organization and Unity of Commands refers to the fact that every individual has a designated supervisor that they report to. This is supported by the information given because you report to the Planning Section Chief.
On the other hand, because you are producing maps you support the Information and Intelligence Management which deals with "gathering, analyzing, assessing, sharing, and managing incident-related information and intelligence."
For more information check the following page: https://emilms.fema.gov/IS100c/groups/133.html
Answer:
Direct Materials EU = 165,000
Direct Labour EU = 144,000
Explanation:
Equivalent Units (Weighted Average Method) = Beginning Goods In process + Units Completed + Ending Goods x % of completion
Direct Materials: 25,000 + 110,000 + 30,000 x 100% = 165,000
Direct Labor: 25,000 + 110,000 + 30,000 x 30% = 144,000
Remember: In the weighted average cost system the units in process at the beginning are count as a full equivalent unit of production.
