Answer:
A) The income tax return for 2018 was filed on March 3, 2019. The three-year statute of limitations will begin to run on:
- April 16, 2019 (the next day after the tax deadline)
B) The income tax return for 2018 was filed on August 13, 2019. The statute of limitations will begin to run on:
- August 13, 2019 (the same day the taxes were filed)
C) The income tax return for 2018 was prepared on March 31, 2019, but was never filed. Through some misunderstanding between the preparer and the taxpayer, each expected the other to file the return. The statute of limitations:
- If the taxes were not filed, then the statute of limitations cannot begin to run.
D) The income tax return for 2018 was never filed because the taxpayer thought no additional tax was due. The statute of limitations:
- If the taxes were not filed, then the statute of limitations cannot begin to run.
Based on the information given this is an example of : hiring an external candidate.
<h3>
What is external candidate?</h3>
Hiring an external candidate means to employ a candidate or new employee which is not an existing or current employee of the organization that employed him.
Based on the given scenario Edward is an external candidate who was hired by HT to fill in a management position which inturn means that Edward is not an existing employee of Harris-Teeter Foods.
Inconclusion this is an example of : hiring an external candidate.
Learn more about hiring an external candidate here:brainly.com/question/6082099
A likely analytical procedure to test the accuracy of purchase discounts would be to compute the ratio of cash discounts earned to : Purchase
<h3>What is Purchase Discount?</h3>
Purchase discount is deducted to the total purchases when computing for the net purchases. This account has a normal balance of credit and decreases the total amount of cost of goods sold.
<h3>What is Analytical procedures ?</h3>
Analytical procedures refer to study of significant ratios and past trends and investigating unusual fluctuations.
Under analytical review procedures, an auditor compares financial information of the current period with those of the previous periods, applying techniques of ratio analysis and investigating the causes of unusual fluctuations and deviations.
Therefore, we can conclude that the correct option is C.
Your question is incomplete, but most probably your full question was:
A likely analytical procedure to test the accuracy of purchase discounts would be to compute the ratio of cash discounts earned to:
a. accounts payable
b. notes payable
c. purchases
d. sales discounts
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Answer:
debit Sales $15,000; debit Purchases Returns and Allowances $200 and credit Income Summary for $15,200
Explanation:
Based on the information given the CLOSING ENTRY that RB Auto would make at the end of the accounting period to close their revenue accounts and income statement accounts with credit balances are:
Debit Sales $15,000
Debit Purchases Returns and Allowances $200 Credit Income Summary for $15,200
($15,000+$200)
(To close revenue accounts and income statement accounts)
Answer:
The correct answer is letter "A": external secondary data.
Explanation:
Governmental agencies and organizations tend to use their own data collected to base their positions in matters regarding their scope. If the information gathered is not enough or ambiguous, data collected from the U.S. Census Bureau is considered as an <em>external secondary resource</em>.
