Answer:
The answer is $6680
Explanation:
To calculate the Real GDP we use prices from the base year.
GDP = 100x40 + 80x11 + 20x90 = $6680
Answer: Moderate or low
Explanation:
Tests of Control are one by auditors to determine the effectiveness of the internal controls in the company in being able to detect accounting errors and anomalies.
If a company seems to have a moderate or low inherent risk the Auditors may or may not initiate Tests of Control due to this reduced risk.
If the company however, has either high or moderate or unusually high risk, the Auditors have to perform Tests of Control to determine where the company is going wrong.
Answer:
C. Ron’s basis in his stock is $27,000
Explanation:
Income recognized on services rendered $21,000
Add basis of $6,000
Ron stock basis $27,000
The property contributed by Ron is not considered insignificant compared to the value of the services he has rendered, which is why the entire contribution is counted as being for property.
Hence, the control requirement is satisfied and a valid § 351 transaction results. Ron’s stock basis is $27,000 [$6,000 (basis of cattle transferred) + $21,000 (income recognized on services rendered)]
Answer:
Total deposit is $39
Explanation:
Given
Required
Determine the total
To do this, we simply multiply each dollar bill or coin with its frequency and add up the results.
i.e.
So:
