Trendsetting? A trend isn't a certain thing in a certain place. It's what a lot of people do that causes a lot of other people to do or act in the same way. Kind of like selfies, almost no one did it then all of a sudden the world went crazy over it.
Answer:
D. Are not likely to achieve full convergence of accounting standards in the near future.
Explanation:
FASB and IASB has joined hands to work together and achieve full convergence. This agreement was signed in 2002, but yet the full convergence has not been achieved. Though both the organisations are still working on the same.
They have not combined their organizations as to form a single organization and work on BUSY format, thus, statement A is not correct.
As they intend to work together statement C is also not correct.
As full convergence is not yet done, Statement B is also not correct.
Accordingly, Statement D is correct.
Answer:
Yes, she can deduct the unamortized balance of the refinanced loan points in the year of sale.
Explanation:
In Refinanced mortgage, you have to deduct the points equally over the life of the loan. This also goes for loans you take out to buy a second home or investment property.
EXAMPLE: If you paid $2,000 in points and will make 360 payments on a 30-year mortgage, you can deduct $66.72 [($2,000/360) x 12] each year, assuming you make 12 mortgage payments in a year.
Study all subjects, Take sample ged tests online, buy ged preparation cards, ask people to quiz you, etc. There are many things you can do.
Dynamic Production Services net income for the year is $40,000.00
[$100,000.00 (revenues) - $60,000.00 (expenses) = $40,000.00]