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3 years ago

Which of the following statements is not true? Multiple Choice

Business

1 answer:

Ganezh [65]3 years ago

6 0

Answer:

4. Public goods are only provided by government.

Explanation:

The statement is false because, as stated by the previous options of the question, sometimes public goods are provided by private organizations even if they are usually unprofitable.

For example, in New York City the Central Park Conservancy is a private, non-profit organization that provides maintenance and operation for the Central Park. This is an example of a private organization employing its resources for the benefit of the public.

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Aviation Systems sells its products with a three-year manufacturing warranty. The company's sales revenue is $600,000. Based on

Vikki [24]

Answer:

$30,000

Explanation:

Warranty liability is a liability account used to report the expected amount of repairing or replacing products already shipped. It's a contingency liability and it should be recorded independently from the actual warranty costs. Therefore, warranty liability, in this case, is:

$600,000 * 0.05 = $30,000

The estimated warranty liability reported in the balance sheet this year is $30,000

5 0

3 years ago

Texas Corporation is undergoing a complete liquidation and distributes land to Robert, one of its shareholders, in exchange fo

Oxana [17]

Answer:

Loss to be recognized is $25000

Explanation:

Liquidation refers to a process whereby a company's operation come to an end, which leads to distribution of assets and liabilities to the claimants and winding up the business.

A company may be forced to liquidate owing to consistent losses. In such cases, the claims of all the stakeholders cannot be satisfied and they receive pro-rata basis allocation which covers everybody's claim to an extent, if not fully.

In the given case,

Robert's receipt is Land. Liabilities attached to the land being $325,000 while the land has fair market value of $400,000.

Thus, after assuming the liability, Robert's actual realized amount is,

$400,000 - $325,000 = $75,000

Since, the land was received in consideration for discharge of Robert's own share in company amounting to $100,000.

Thus, Gain/Loss to be recognized by Robert = $75, 000 (receipts) - $100,000

= - $25,000

i.e Robert should recognize a loss of $25,000.

4 0

3 years ago

Which of these would Congress look to do during a recession, as it pertains to fiscal policy?

jeyben [28]

Answer:

Raise taxes

Explanation:

This will help reduce the amount of money in circulation because during recession money loses its value due to large amount of money in circulation

4 0

1 year ago

Fern Co. has net income, before taxes, of $200,000, including $20,000 interest revenue from municipal bonds and $10,000 paid for

exis [7]

Answer:

Effective tax rate =28.50 %

Explanation:

given data

Net Income before taxes = $2,00,000

Interest revenue = $20,000

Life insurance Premium = $10,000

tax rate = 30%

to find out

Fern's effective tax rate

solution

first we get here Taxable Income that is express as

Taxable Income = Net Income before taxes + Life insurance Premium - Interest revenue ........................1

put here value we get

Taxable Income = $2,00,000 + $10,000 - $20,000

Taxable Income = $190000

Income tax Liability will be

Income tax Liability = Taxable Income × Tax rate .....................2

Income tax Liability = $190000 × 30%

so Effective tax rate will be

Effective tax rate = $\frac{Income\ tax\ Liability}{Net\ Income}$

Effective tax rate = $\frac{57000}{200000}$

Effective tax rate =28.50 %

3 0

2 years ago

Savings Goals

romanna [79]

Answer:

I am sorry fam this won't be an answer to your question, but I figured out how to see the answers on brainly for ya'll that don't have premium. You just need to right click on the page of your question and then click on "view page source" for me the shortcut is ctrl+ U. I don't know about yall's. when you do that it will open up a weird looking page then you want to scroll down, what you wanna focus on are the black letters, the others will be colored red or blue or whatever just focus on the black letters. It just gonna show you the answer and the comments too. Your welcome pudgy boi.

Explanation:

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7 0

2 years ago