All of them represent liabilities that must be paid back at some specified point in the future.
<h3>What are liabilities?</h3>
Liabilities are financial obligation of a company that results in the company's future sacrifices of economic benefits to other entities.
There are various reason why a company would incur liabilities:
- Human error.
- Environmental damage.
- Defective product/work.
- Natural hazards.
Hence, all of the above represent liabilities that must be paid back at some specified point in the future.
Learn more about liabilities here: brainly.com/question/2819860
the assistance and advice provided by a company to those people who buy or use its products or services.
Answer:
Sell Machine A and distribute cash to one of the shareholders.
Distribute Machine B to the other shareholder because there is no gain on the distribution and no deductible loss
Machine C can then be retained
Explanation:
If Machine A is distributed, it will result in a non-deductible loss of $ 7,000 ( 27,000- 20,000). Hence, to preserve the loss which will help to reduce tax base, the company should consider selling it and give the cash generated on it to one of the shareholders.
If Machine B is distributed, it will yield neither gain nor loss. Since it doesn't have any tax implication whether distributed or sold, the company should consider given it to the other shareholder.
As for Machine C, this should be retained, because Raven will have to pay tax on the assumed gain if it is distributed.
8.35=8
Any decimal point below 5 is rounded down; above 5 is rounded up
Ex: 10.6=11
Hope this helps!
Answer:
For detailed tables of balance sheet refer to the attached files
Explanation:
