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3 years ago

Which of the following would most likely be required when Implementing an AML program? (Select all that apply.)

Business

2 answers:

Anit [1.1K]3 years ago

7 0

Answer:

Explanation:

elixir [45]3 years ago

7 0

Actually I think it would be c. My explanation for that is because when starting that you would have to have regulations and things like that

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For the current year temporary differences existed between the financial statement carrying amounts and the tax basis of the fol

Veseljchak [2.6K]

Answer:

Income Tax Expense (Dr.) $49,080,000

Deferred Tax Liability (Cr.) $49,080,000

Explanation:

Income tax expense = ( Taxable Income for the year + building and equipment taxable amount + Prepaid Insurance - Liability or contingency Loss ) * Tax rate

Income Tax expense = ( $117,000,000 + $14,700,000 + $2,300,000 - $11,300,000) * 40%

Income Tax expense = $49,080,000

8 0

3 years ago

Suppose that Steve, one of the partners in a home improvement company, intends to dissolve the partnership. Before he can give n

bija089 [108]

Answer:

still be liable for Hala's contract.

Explanation:

Any contract entered into by any of the partners, before the dissolution of a partnership business is deemed legal hence binding on the partners. This means that the partners will still be liable for the new contract in line with their partnership status.

Although, before a partnership business can be dissolved, at least one of partners must give a notice of intent. If in the process of giving the notice, another member enters in a new contract, such will be valid and partners will still be held liable because the business has still not been dissolved in the eye of the law.

Any contract entered into by any partner in a partnership business aftet dissution becomes illegal hence not binding on other members.

6 0

3 years ago

Converse Florists & Co. reported assets of $ 1 comma 200 and equity of $ 350. What is its debt ratio? (Round your percenta

Bas_tet [7]

Answer:

70.83%

Explanation:

Given that,

Company's assets = $1,200

Equity = $350

Dept = Reported assets - Company's equity

= $1,200 - $350

= $850

Dept ratio = (Debt ÷ Total assets) × 100

= ($850 ÷ $1,200) × 100

= 0.7083 × 100

= 70.83%

Therefore, the Dept ratio of Converse Florists & Co. is 70.83%.

7 0

3 years ago

Choose the letter of the item that best completes the statement or answers the question. Last year Jackson earned $500,000, Vele

Vitek1552 [10]

1. According to their states’ tax laws, which require each one to pay a tax of $500 despite their different earnings, the best description of the tax is (c) regressive.

<h3>What is a regressive tax system?</h3>

A regressive tax system is one where taxpayers pay a disproportionate share of the tax burden, given their earning levels.

A regressive tax system is not proportional or progressive.

2. An example of an excise tax is (b) tax on perfume.

3. The amount Rose Chin paid for the purchase of school supplies based on the state sales tax of 5% is a) $12.60 ($12 x 1.05).

4. An example of a property tax is a) a tax based on the value of one's home.

5. The best example of the ability-to-pay principle is b) income tax.

6. An example of a tax based on the benefits-received principle is (a) bridge toll.

7. In the United States, taxes are used to accomplish all of the following except (c) determine which brands consumers buy.

8. For the apartment tenants, the tax is d) a sales tax.

9. The ultimate tax-burden bearer in question 8 is (d) the tenants.

10. An example of a protective tariff is (d) tax on the importation of foreign-made cars.

Thus, while income tax is mostly progressive in the United States, sales taxes are proportional, while some taxes are regressive because the amount paid is fixed and does not depend on the ability-to-pay principle.

Learn more about tax systems at brainly.com/question/12890967

#SPJ1

5 0

2 years ago

A company purchased land for $350, 000 cash. Real estate brokers commission was $25,000 and $35,000 was spent for demolishing an

docker41 [41]

Under the historical cost principle the cost of land would be recorded at: d. $410,000 .

Explanation:

Given:

Purchase cost of land = $350,000

Brokers commission = $25,000

Cost for demolishing old building = $35,000

Principle cost of land = ?

Principle cost of land= Purchase cost of land+ Brokers commission+ Cost for demolishing old building

= $350,000+$25,000+$35,000

= $410,000

Principle cost of land= $410,000

The correct option is d.$410,000.

7 0

3 years ago