Answer:
The acceptable format for reporting comprehensive income are 1. In one continuous financial statement and 4. In two separat but consecutive financial statements.
If a firm that presents a full set of financial statements has items of other comprehensive income it must present comprehensive income either (1) in a single continuous statement of comprehensive income or (2) in two separate but consecutive statements.
Answer: Option C is true about Accruals basis
Explanation:
Cash basis states that transactions are only recognized when cash is received and paid. Some of the short comings of the cash basis was it didn’t regard the period in which transactions occured, etc
Accrual basis states that revenue is recognized when earned and expenses when incurred and not when cash is received or paid.
Option 1 is wrong because cash basis only records cash transactions.
Option 2 is wrong because Accruals basis is recognized by GAAP
Answer:
The consultant's advice will reduce soil degradation and increase organic matter content in soil
Explanation:
In this scenario the present practice by the farmer of burning crop residue and tilling results in soil degradation and loss of organic matter.
Burning on the farm leads to loss of crop nutrients such as nitrogen and organic matter. It also causes environmental pollution of air, land, and water when carbon, nitrogen, and sulphur by-products are released to the atmosphere.
Tillage is the practice of turning the top 6 - 12 cm of soil when preparing for planting. This practice reduces water holding capacity of soil, accelerates nutrient loss, and degrades soil structure.
So if the farmer stops burning crop residue and practices zero tillage it will result in less environmental pollution, reduce soil degradation, and increase soil nutrients especially organic matter
The most important question you should have after seeing this ad about a check cashing business is"
- Why Choose ACE to Cash Your Check?
- No credit check necessary?
- Can I get a written copy of all of the fees that you charge for your services?
<h3>Is a check cashing business considered a financial institution?</h3>
A money service business is one that is seen as a kind of a financial institution that is known to be involved with one or a lot of of the following entities such as:
- Check casher
- Foreign currency dealer, etc.
So, the most important question you should have after seeing this ad about a check cashing business is"
- Why Choose ACE to Cash Your Check?
- No credit check necessary?
- Can I get a written copy of all of the fees that you charge for your services?
Learn more about check cashing business from
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Answer:
Ahmad must report his disability payments as income.
Explanation:
Disability payments are taxable only if the insurance premium was paid by Ahmad's employer (which happened in this case). If Ahmad had paid the premium himself, then the disability premiums would not be considered income. If the premiums had been paid by both Ahmad and his employer, then only the proportion paid by Ahmad's employer would have been taxed.
