True. <span>Because Sam Cooke struggled to find success, he formed his own publishing company in an attempt to get his songs known by the public. This is a true situation for Sam Cooke. He wasn't able to get anyone to support him in his music journey so he </span>decided to open up his own label where he was able to share his music with the world without someone else stopping him.
Answer: 11.65%
Explanation:
The $13,241.39 is a future value amount as it is what is to be accumulated in 2 years.
Future value formula therefore applies:
Future value = Current value * ( 1 + interest rate) ^ no. of years
13,241.39 = 10,621.36 * ( 1 + i) ²
(1 + i)² = 13,241.39 / 10,621.36
(1 + i)² = 1.24667556697
1 + i = √1.24667556697
i = 1.116546267 - 1
i = 11.65%
if no adjusting entry is made at year-end, the financial statements will be affected:
Net - income: will be overstated
Assets: will be overstated
<h3>What are Financial statements?</h3>
- The financial actions and position of a company, individual, or other entity are formally recorded in financial statements (also known as financial reports).
- The presentation of pertinent financial data is organized and presented in an understandable style.
- The purpose of financial statements is to give information about an organization's financial situation, performance, and changes in financial position that may be used by a variety of users to make financial decisions.
- Financial statements must be clear, pertinent, dependable, and similar.
- The financial condition of an organization is directly tied to the reported assets, liabilities, equity, income, and expenses.
To learn more about financial statements, refer to:
brainly.com/question/14951563
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Answer:
Right
Explanation:
Right if you expect tax rates to go up or because right now you are starting your career and your tax bracket would be lower now than what it will be later on. When you are older and in retirement, you would want to save your money and not have to worry about any taxes.
Answer:
The correct answer is a. In arriving at taxable income, a taxpayer must choose between the standard deduction and itemized deductions.
Explanation:
In tax law, the tax base is the magnitude that results from the measurement of the taxable event. It is defined as the dimension or magnitude of an element of the objective budget of the taxable event that is judged as determining the relative contributory capacity.
In tax legal relations, the taxable event shows the existence of an economic capacity in the subjects, but for the tax to be applied, this fact must be assessed in some way, usually in monetary units.
The tax base is ultimately the magnitude that is used in each tax to measure the economic capacity of the subject, such that it is reflected in ceilings.
