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2 years ago

A sales tax, especially when food and medicine are subject to the tax, can be described as what type of tax?

1 answer:

7 0

<span>Which type of cybercriminal attack would interfere with established network communication through the use of constructed packets so that the packets look like they are part of the normal communication?</span>

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The penalty for nonqualified distributions from a health savings account (HSA) is __________.

Salsk061 [2.6K]

If you take a non-qualified distribution, you are subject to ordinary income tax on the distribution and a 20% penalty tax. The penalty may not apply: if you are age 65 or older, if you are disabled or.

7 0

2 years ago

Which of the following statement is not true about derivative contracts?

8090 [49]

Answer:

a. A long position is a bet that the number is going to fall while a short position is a bet that the number will rise in the future.

Explanation:

The derivative contract is a contract in which the contract is to be done between two or more parties regarding the value i.e. depend upon the financial asset i.e. underlying. It involves the bonds, commodities, etc

So according to the given options, the option a is correct as long position is a bet in which the number is to be decline while on the other hand in the short position the number would increase

4 0

2 years ago

g Banks advertise Group of answer choices the real interest rate, which is how fast the dollar value of savings grows. the real

Serhud [2]

Answer: The Nominal Interest rate, which is how fast the dollar value of savings grows

Explanation:

Banks advertise the Nominal Interest rate. This is the rate that measures purely, how much return is received or paid if one lends out money or borrows money respectively.

It is therefore the value at which savings grow.

It is not adjusted for inflation yet but when adjusted is called the REAL INTEREST RATE.

It is important to note that when Banks advertise the Nominal rate, it is not yet adjusted for fees or the compounding of interest.

3 0

3 years ago

"Ayres Services acquired an asset for $80 million in 2021. The asset is depreciated for financial reporting purposes over four y

Zepler [3.9K]

a. The cumulative temporary book-tax difference for the depreciable asset are as follows:

December 31, 2021 = $60 million

December 31, 2022 = $40 million

December 31, 2023 = $20 million

December 31, 2024 = $0

b. The balance to be reported in the deferred tax liability account are as follows.

December 31, 2021 = $15 million

December 31, 2022 = $10 million

December 31, 2023 = $5 million

December 31, 2024 = $0

Explanation:

Note: See the attached excel file for the calculation of cumulative temporary book-tax difference for the depreciable asset and the balance to be reported in the deferred tax liability account for December 31 of years 2021, 2022, 2023 and 2024 in bold red color.

In the attached excel file, the following formula are used:

Cumulative Temporary differences at December 31 of the current year = Cumulative Temporary differences at December 31 of the previous year + (Depreciation on the tax return at December 31 of the current year - Depreciation on the income statement at December 31 of the current year)

Balance to be reported in deferred tax liability account at December 31 of the current year = Cumulative Temporary differences at December 31 of the current year * Tax rate

8 0

3 years ago

Caspian Sea is considering raising $33.00 million by issuing preferred stock. They believe the market will use a discount rate o

Hitman42 [59]

Answer:

1,212,723 shares

Explanation:

Given that,

Value of issuing preferred stock = $33,000,000

Discount rate = 11.87%

Dividend paid = $3.23

Price of preferred stock:

= Annual dividend ÷ discount rate

= $3.23 ÷ 0.1187

= $27.2115

Shares will they need to issue:

= Value of issuing preferred stock ÷ Price of preferred stock

= $33,000,000 ÷ $27.2115

= 1,212,723

3 0

3 years ago