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gregori [183]
3 years ago
15

Hahn Co. prepared financial statements on the cash basis of accounting. The cash basis was modified so that an accrual of income

taxes was reported. Are these financial statements in accordance with the modified cash basis of accounting
A. Yes.
B. No, because the modifications are illogical.
C. No, because there is no substantial support for recording income taxes.
D. No, because the modifications result in financial statements equivalent to those prepared under the accrual basis of accounting.
Business
1 answer:
jeyben [28]3 years ago
8 0

Answer: the answer is A. Yes.

Explanation:

Under a strict cash basis of accounting, revenues and expenses are recorded only when cash is received or paid. Under a modified cash basis of accounting, certain accruals and/or deferrals are recorded for financial-statement purposes.  

The most common modifications are the capitalization and amortization of long-lived assets and the accrual for income taxes (recognition of income tax expense and related liability).

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Maslowich

Answer:

The correct answer is:

I trust you to be able to accomplish this task (C)

Explanation:

First of all, you have to know the meaning of the word competence, and competence is a collection of related relevant abilities, know-how and skills required to act effectively on a job or situation. Which is a clear message passed by the speaker in the statement "I trust you to be able to accomplish this task", because the speaker knows that his team member possesses the right skills to carry out a task successfully.

The statement in option D ( "I trust you to do the right thing." ) also tells a little about competence because one of the definitions of competence highlights being sane, and one needs to be sane to do the right thing, but it is only second choice when compared to the statement in option "C".

Next time when you are faced with this kind of question, identify the keyword ( which in this case is competence), and use that to answer the question.

7 0
3 years ago
The balance of the revenue account is transferred to the
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Credit side of a the balance of revenue account is transferred
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2 years ago
Read the section of the article named "Duties."
Elden [556K]

Answer:

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Explanation:

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They oversee their affairs, give projects, supervise and evaluate.

Therefore, their job is to get customers interested in the product of the company.

4 0
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A real estate salesperson brings a buyer to a For-Sale-By-Owner transaction. The home sells for $120,000, and the seller agrees
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Solution:

The home sells for = $120000

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Therefore, commission = 3% of $120000 = $3600

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Thus, the amount which is received by the salesperson from the given transaction is = 65% of $3600 = $2340

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