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makkiz [27]
3 years ago
15

For external reporting purposes, U.S. GAAP allows companies to use

Business
1 answer:
DanielleElmas [232]3 years ago
6 0

Answer:

1. Only the traditional format of the income statement.

Explanation:

For external reporting purposes, United States of America, Generally Accepted Accounting Principles (GAAP) allows companies to use only the traditional format of the income statement.

United States of America, Generally Accepted Accounting Principles (GAAP) is the accounting principles, procedures and standard issued by the Financial Accounting Standards Board (FASB) and adopted by the United States of America, Securities and Exchange Commission (SEC).

When accountants prepare and compile financial statements for public firms, it must be in line with United States of America, Generally Accepted Accounting Principles (GAAP).

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Carlos does a good job of keeping track of his understanding of the material he is reading, and if he gets confused, he always r
padilas [110]

Answer:

Comprehension monitoring

Explanation:

This example suggests that Carlos has good Comprehension monitoring skills

4 0
3 years ago
What is the main commodity on the JEB - property/ shares/ gold/ oil ?
lyudmila [28]
<span>Gold is the main commodity on the JEB. Right now gold is trading around the $1250 level.</span>
6 0
3 years ago
Clarice became very ill in August of 2019 and was unable to work the rest of the year. She had only $30,000 of income from her j
CaHeK987 [17]

Answer:

total taxable income = $73,000

tax liability = $7,505

Explanation:

Clarice's ordinary income $30,000

Clarice's capital gains:

  • selling of stock = $34,000 - $16,000 = $18,000
  • selling of coin collection = $55,000 - $30,000 = $25,000
  • total long term capital gains = $43,000

Clarice's taxable income = $73,000

Clarice's ordinary income tax rate 2011:

ordinary income = $30,000 - standard deduction $5,800 = $24,200

  • 10% on taxable income from $0 to $8,500  = $850
  • 15% on taxable income over $8,500 to $34,500 = $2,355

ordinary income taxes = $3,205

Clarice's capital gains tax rate 2011 = 10%

capital gains taxes = $43,000 x 10% = $4,300

total tax liability = $7,505

5 0
4 years ago
You are the CEO of a company that has to choose between making a $100 million investment in Russia or Poland. Both investments p
dlinn [17]

Answer:

Going by the Ease of Doing Business ranking of 2020, prepared by the World Bank, which is perhaps the most reliable ranking to assess business risk in different countries.

Russia has a higher score in the ranking, which means that doing business is less risky there. Poland has particularly high risks in the starting a business category, which means that the mere act of starting the business in Poland might be a risky decision.

Russia has a high risk in trading accross borders, probably because the country is subject to several international sanctions.

If we go only by score, Russia has a higher score, so, as the CEO, you should probably invest there. However, you should avoid investing in Russian companies that try to export abroad, because of the high risks associated with trade in that country.

8 0
4 years ago
If you get a department store or gas card, what should you check to make sure it will help your credit score?
Travka [436]
Things that you need to check are:
- Your FICO score (the higher your fico scores will indicates that you're financialy trustworthy)
- Check the balance. Make sure that you always pay all the required balance. Failing to do this will be recorded as failure to complete payments no matter how little it is.
4 0
3 years ago
Read 2 more answers
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