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Mkey [24]
4 years ago
6

A corporation​ ________. A. can use straightdash-line depreciation method for tax purposes and MACRS depreciation method financi

al reporting purposes B. can use different depreciation methods for tax and financial reporting purposes C. must use the straightdash-line depreciation method for tax purposes and double declining depreciation method financial reporting purposes D. must use different depreciation method for tax​ purposes, but strictly mandated depreciation methods for financial reporting purposes
Business
1 answer:
lara31 [8.8K]4 years ago
7 0

Answer:

The correct answer is B. can use different depreciation methods for tax and financial reporting purposes.

Explanation:

Corporations are allowed to use various depreciation methods (in a straight line, double decreasing balance and the sum of the digits of the years). For fiscal purposes, using the MACRS recovery periods, the assets of the first four classes of property are depreciated using the double declining balance method.

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When auditors wish to issue an unmodied opinion but highlight that the entity changed its method of accounting forsoftware devel
love history [14]

Answer:

c. An emphasis-of-matter paragraph

Explanation:

Based on the information provided within the question it can be said that they would most appropriately identify the change in accounting in an emphasis-of-matter paragraph. This is a paragraph that illustrates the importance of the disclosed information or changes in the financial report, and that it is essential to the user's understanding of the report.

6 0
3 years ago
For the fed there must be a _____________ between maintaining banking stability for the nation and allowing individual banks to
bekas [8.4K]

The Fed must establish a balance between maintaining national banking stability and enabling individual banks to make a profit.

<h3>What is Federal Reserve System?</h3>

The central banking system of the United States of America is the Federal Reserve System, generally referred to as the Federal Reserve or just the Fed. The Federal Reserve System is composed of several levels. The Federal Reserve Board, which is comprised of governors selected by the president, oversees it (FRB). Twelve regional Federal Reserve Banks, dispersed across the country's cities, control and supervise independently held commercial banks. Commercial banks with national charters are required to own stock in the local Federal Reserve Bank and have some board member elections.

To know more about Federal Reserve System, visit:

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7 0
1 year ago
Two-year-old Max sees a rabbit and calls it a "bunny." He then sees a large white hamster and calls it a "bunny," too. In this s
Olegator [25]

Answer:

The correct answer is overextension.

Explanation:

In the context of language acquisition, it refers to the erroneous over-generalization in the use of a word; that is, to the error that consists in extending the application of words to entities or objects not included in the concept or category of reference, even if they share certain characteristics. For example, the word "dog" is used to correctly designate dogs; but it is also used in reference to any other animal with "four legs."

7 0
3 years ago
Give two examples where it would be best to use email. Give two examples where it would be best to speak to some one face to fac
dusya [7]

Answer:

email: if it isnt in a serious situation or if nothing needs to be confronted to whoever.

face to face is a situation thatmight be serouse or would just have a hard time explaining in email.

ex. email: when you need to send work through the internet.

ex. face to face: needing to talk personally to someone.

8 0
3 years ago
Read 2 more answers
​Mercer, Inc. provides the following data for​ 2019: Net Sales Revenue Cost of Goods Sold The gross profit as a percentage of ne
Setler [38]

The question is incomplete as it is missing the figures. The complete question is,

Mercer, Inc. provides the following data for​ 2019:

Net Sales Revenue 598000

Cost of Goods Sold 350000

The gross profit as a percentage of net sales is​ ________. (Round your answer to two decimal​ places.)

Answer:

Gross profit as a percentage of net sales = 0.4147 or 41.47%

Explanation:

The gross profit is a profit earned by a business through its trading activity. It is calculated by deducting the cost of goods sold from the net sales revenue and it is the profit earned by a business before deducting any operating and non operating expenses of the business.

Gross profit = Net Sales - Cost of goods sold

Gross Profit = 598000 - 350000   = $248000

The gross profit as a percentage of net sales is,

Gross profit as a percentage of net sales = Gross profit / Net Sales

Gross profit as a percentage of net sales = 248000 / 598000

Gross profit as a percentage of net sales = 0.4147 or 41.47%

5 0
3 years ago
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