Cass Corporation reported pretax book income of $10,600,000. During the current year, the reserve for bad debts increased by $17
2,500. In addition, tax depreciation exceeded book depreciation by $227,500. Cass Corporation sold a fixed asset and reported book gain of $87,000 and tax gain of $114,500. Finally, the company received $270,000 of tax-exempt life insurance proceeds from the death of one of its officers. Compute the company’s current income tax expense or benefit.
The correct answer is letter "A": Using tabulations and enumerations.
Explanation:
There are several forms to improve the writing of a formal report. Using active voice, consistent sentences, and transitions in between sentences are some examples. When it comes to transitions they are useful to keep readers' interested. Implementing <em>tabulations and enumerations</em> at the beginning of a listing helps sentences to be linked one with another and provides the idea that after reading one sentence another is coming up.
The company calls for money from shareholders when needed within a certain period. If the shareholder is not able to pay the call amount due on an allotment or on any calls according to the terms before or on the specific date fixed for payment, such amount is taken as 'call in arrears'.