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3 years ago

Tax returns filed manually have a 20% chance of containing errors. True or False

Business

1 answer:

Anarel [89]3 years ago

4 0

Answer:

True

Explanation:

According to the Internal Revenue Agency (IRS) up to 20% of all tax filings done manually contain errors, while only 0.05% of online tax filings contain errors. That is a huge difference. Some of the most common errors are due to erroneous mathematical calculations. That is why online filing helps a lot since the web services do all the math calculations for you. Another advantage of online filing is that they are review much faster than manual filings.

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ROBERTA transfers property with a tax basis of $400 and a fair market value of $500 to a corporation in exchange for stock with

Neporo4naja [7]

Answer:

correct option is A. $500

Explanation:

given data

tax basis = $400

fair market value = $500

fair market value = $350

liability = $150

solution

we get here amount realized by Roberta in the exchange that is express as

= fair market value of the stock receive + from the liability ...................1

amount realized = $350 + $150

amount realized = $500

so correct option is A. $500

5 0

3 years ago

Jenny was feeling frustrated. "What's taking them so long to make a decision? It's been weeks since I first met with them, and t

kodGreya [7K]

Answer: A. New buy

Explanation:

The situation described is most likely a NEW BUY situation because it bares some characteristics of same. In a new buy, customers generally take their time to make a decision and put the seller through a lot of paperwork in the case of corporate entities in a bid to assess the risk or cost of the new product. It is also necessary to do so as they have no previous experience with the seller and so trust cannot play a center stage.

Jenny also implied that it was the first time she had met them and it was also the first time they had been introduced to the product so there is that.

If you have any need for clarification do react or comment.

6 0

3 years ago

Read 2 more answers

Dale’s young son does not know much about his dad’s job but he does know that his dad works at the Chevy Manufacturing Plant. Da

noname [10]

Answer:

Dale would explain that he makes sure that everything is running smoothly and that he has to make sure that everyone is doing everything correctly.

Explanation:

I got 15/15 on the questions. :)

Also, make sure you rewrite a few words so you don't get in trouble!

4 0

2 years ago

At Nick's Bakery, the cost to make homemade chocolate cake is $3 per cake. As a result of selling three cakes, Nick experiences

Sveta_85 [38]

Answer:

c. $9.50 each.

Explanation:

For computing the selling price, first we have to compute the total price of three cakes which is shown below:

The sale value of three cakes would be

= $3 per cake × 3 cakes

= $9

And, the producer surplus is $19.50

So, the total price of cake equals to

= $9 + $19.50

= $28.50

And, the number of cake is 3

So, the selling price would be

= $28.50 ÷ 3 cakes

= $9.50 each

8 0

3 years ago

Martha and Gordon purchased a home for $175,000 six years ago with a 5.5 percent, 30-year $140,000 mortgage. Their home now has

aliya0001 [1]

Answer:

The correct answer is A that is $76,000

Explanation:

Home equity is the market value of a home owner un-mortgaged interest in the real property, which is the difference among the home's fair market value and the outstanding balance of all liens on the property.

So, it is computed as:

Home Equity = Market value - Outstanding balance

= $210,000 - $134,000

= $76,000

4 0

3 years ago