If supply is price-inelastic and demand is price-elastic, then the firm can earn positive profits by increasing the price.

The two functions of financial accounting are to measure business activities and prepare tax returns. True or false

Schach [20]

The two functions of financial accounting are to measure business activities and prepare tax returns. FALSE

<h3>What is a Tax return?</h3>

A tax return is a document submitted to a taxing body that lists earnings, outlays, and other pertinent financial data.
Taxpayers compute their tax liabilities, set up tax payments, and request refunds for overpaid taxes on their tax returns.
Tax returns must typically be filed yearly.
In the United States, tax returns including data necessary to compute taxes are filed with the Internal Revenue Service (IRS) or with the state or local tax collecting agency (Massachusetts Department of Revenue, for instance).
The IRS or another applicable authority's forms are often used to complete tax returns.

To learn more about Tax return, refer to the following link:

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6 0

1 year ago

You and your spouse are in good health and have reasonably secure jobs. Each of you makes about $25,000 annually. You own a home

saveliy_v [14]

Answer:

$88,150

Explanation:

DINK method for insurance sums one half of all the debt plus funeral expenses. Thus,

Using DINK method

One half of mortgage, 140,000 = 70000

One half of car loan, 14000 = 7000

One half of personal debts, 4800 = 2400

One half of credit card loans, 3500 = 1750

Funeral expenses = 7000

Thus

Total insurance needed =

70000 + 7000 +2400 + 1750 + 7000

= $88,150

Note that, when using DINK method, what the spouse earn isn't used in calculating total insurance.

7 0

3 years ago

Daniels Transport has operating income of $68,200, interest expense of $210, dividends paid of $320, depreciation of $12,400, ot

Kisachek [45]

Answer:

Option (a) is correct.

Explanation:

Given that,

Operating income = $68,200

Interest expense = $210

Dividends paid = $320

Depreciation = $12,400

Other income = $2,100

common stock = $48,500 with a par value of $1 per share

Retained earnings = $29,700

Income before taxes:

= Operating income - Interest expense + Other income

= $68,200 - $210 + $2,100

= $70,090

Net income:

= Income before taxes - Taxes at 21%

= $70,090 - ($70,090 × 21%)

= $70,090 - $14,719

= $55,371

Shares of common stock outstanding:

= Common stock ÷ Par value per share

= $48,500 ÷ $1

= 48,500 shares

Earnings per share:

= (Net income - Preferred dividend) ÷ Shares of common stock outstanding = ($55,371 - 0) ÷ 48,500

= $1.14 per share

Therefore, the earnings per share if the tax rate is 21 percent is $1.14.

3 0

3 years ago

Job control unionism seeks to achieve all of the following except:A. Increase employee participation and decrease managerial con

Tasya [4]

Answer:

A. Increase employee participation and decrease managerial control.

Explanation:

Unions are basically the key to decrease managerial control as much as possible and increase the power wielded by the workers.

5 0

3 years ago

You are watching the news and learn that there has been a security breach of credit card information at a large department store

Irina18 [472]

Answer: INSIDERS CREATE THREATS AT THEIR WORKPLACE AFTER WORK PLACE INCIDENTS

Explanation:

Workplace incidents create a conducive opportunity for insiders to commit crime.

In this case there have been some layoffs which can be exploited in certain ways.

It could be that an employee or employees who think they will be laid off decide to steal credit card information for financial reasons before they are laid off.

It could also be that employees or an employee who will not be laid off could use the opportunity to steal information so that it can be blamed on the employees to be laid off seeing as they will be the most likely suspects.

Workplace incidents create an opportunity to steal information and this is no different.

4 0

2 years ago