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ankoles [38]
3 years ago
13

The replacement cost of a LIFO basis inventory item is below the net realizable value and above the net realizable value minus t

he normal profit margin. The original cost of the inventory item is below the net realizable value minus the normal profit margin. Under the lower-of-cost-or-market (LCM) method, the inventory item should be measured at _________.
Business
1 answer:
Anna35 [415]3 years ago
8 0

Answer:

historic cost.

Explanation:

As the original cost is below the net realizable value minus normal profit margin the lower between the cost and market value therefore lower than replacement cost too. Hence, we should do no adjustment and keep the inventory valued at historic cost.

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Which is an example of a mandatory deduction on a pay stub?
Grace [21]

Answer:

Some mandatory payroll tax deductions that employers are required by law to withhold from an employee's paycheck include: Federal income tax withholding. Social Security & Medicare taxes – also known as FICA taxes.

~Its srishty~✿

3 0
2 years ago
A taxpayer understated the tax liability by $10,000. The total tax liability was $50,000. No disclosure of the return position w
posledela

Answer:

2,000

Explanation:

To calculate how much of an accuracy related penalty the tax payer will be assessed, we use the following method.

3 0
3 years ago
Jonas doesn't want to keep his savings in an account because he doesn't want to pay bank fees. Which of the following is an argu
blsea [12.9K]

The correct answer is C. Money is safer in the bank.

Explanation:

The main point or position of Jonas is that savings should be kept in an account due to the costs associated with this. In this context, the only argument that refutes Jonas' position and it is directly related to the main point of Jonas is "Money is safer in the bank" because even if keeping savings in a bank requires to pay fees this guarantees the money will be safe, which does not occur if Jonas keeps his savings at home. Moreover, the safety factor makes the option of the bank better, which refutes Jonas position.

3 0
3 years ago
Which kind of data warehouse is created separately from the enterprise data warehouse by a department and not reliant on it for
Lana71 [14]

Independent Data Mart is created separately from the enterprise data warehouse by a department and not reliant on it for updates

<h3>What is an independent data mart?</h3>

Data marts are one of the keys to effectively converting information into insights in a market dominated by big data and analytics. Large data sets are normally dealt with by data warehouses, yet easy-to-find and immediately available data are needed for data analysis. Should a business person have to run difficult queries in order to acquire the data they require for their reports? No, which is why savvy businesses employ data marts.

Often a partitioned section of an enterprise data warehouse, a data mart is a subject-oriented database. Typically, a data mart's subset of data corresponds to one particular business unit, such as sales, finance, or marketing.

Data marts speed up business processes by enabling quick access to pertinent data in a data warehouse or operational data store, rather than having to wait months or more. A data mart is an economical way to quickly obtain useful insights because it only includes the data relevant to a certain business area.

Thus, it is a data mart where the data warehouse is created separately from the enterprise data warehouse by a department and is not reliant on it for updates.

For more information on Data mart, refer to the given link"

brainly.com/question/13989635

#SPJ4

4 0
2 years ago
Haag Corp.'s 2015 income statement showed pretax accounting income of $1,250,000. To compute the federal income tax liability, t
Galina-37 [17]

Answer:

$80,000

Explanation:

The taxable Income of the Haag Corp can be calculated using the following formula:

Taxable income=Pretax accounting income-income exempt for tax purposes-excess depreciation allowed for tax purposes.

Applying the above formula to the given question:

Pretax accounting income:                                                               $1,250,000

Income  from exempt municipal bond:                                              ($50,000)

Excess depreciation deducted for tax purposes                             ($100,000)

Taxable income                                                                                  $1,100,000

Tax on taxable income(30%*1,100,000)                                            $330,000

Less: Federal income tax already paid                                            ($250,000)  

Tax Liability to be included in Hagg's balance sheet                     $80,000

8 0
3 years ago
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