The best description of the definition given above is Related diversification because it entails when a firm enters a different business in which it can benefit from leveraging core competencies, sharing activities, or building market power.
<h3>What is Related diversification?</h3>
Related diversification refer to a situation when a firm change into another new industry that is very similar with the firm's existing industry or industries
The benefit of related diversification is it allow the sharing of related resources and ensures profit of real diversification.
Therefore, Related diversification is when a firm enters a different business in which it can benefit from leveraging core competencies, sharing activities, or building market power.
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FIFO will result in higher pretax income and EPS.
FIFO ("first in, first out") is based on these production costs, assuming that the oldest products in a company's inventory are sold first. The LIFO (last in, first out) method assumes that the newest product in the company's inventory was sold first, and uses that cost instead.
FIFO (First In, First Out) Inventory Management evaluates inventory to reduce the likelihood of business losses when products are phased out or discontinued. LIFO (last in, first out) inventory management is suitable for non-perishable goods and uses the current price to calculate the cost of goods sold.
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Answer:
9%
Explanation:
According to the given situation, the solution of return on investment is shown below:-
Return on investment = (Net operating income ÷ Average operating assets) × 100
now, we will put the values into the above formula
= ($45,360 ÷ $504,000) × 100
= 0.09 × 100
= 9%
Therefore for computing the return on investment we simply applied the above formula.
Answer:
1. Tax avoidance
2.Tax avoidance
3.Tax evasion
Explanation:
Tax avoidance refers to a legal way of reducing one's tax liability through lawful deductions. Ways to reduce tax liabilities are; capitalizing on tax advantage retirement accounts, liasing with tax advisor on the legal way for tax avoidance. Tax avoidance is however legal.
Examples of tax avoidance are;
1. Andrea keeps a record of all her business related expenses.
2. Daniel claims the amount of interest paid for his mortgage as tax deductions.
Tax evasion is a deliberate attempt by a tax payer to avoid payment of tax liability. It is a fraudulent action by a tax payer to wilfully evade tax in an illegal manner. In tax evasion, income is concealed to tax authorities inorder to evade tax payment which is a criminal offence. It is to be noted that tax evasion is illegal in the eye of the law.
Example of tax evasion is ;
3. Christian did not report the tips he earned on his tax return.
The descriptions to cases that will possibility be addressed by a Trial Balance are:
- can detect the accuracy of the accounting process(possible)
- can help check whether the debit side is equal to the credit side(possible)
- can help prepare the income statement(possible)
- helps serve as a proof of the application of the double-entry system(not possible)
- can help check whether a particular transaction has been completely omitted(not possible)
<h3>What is trial balance?</h3>
A trial balance can be regarded as bookkeeping worksheet which contains the ledger that is arranged into debit and credit account column .
Therefore, with trial balance, one can check whether the debit side is equal to the credit side.
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