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vagabundo [1.1K]
3 years ago
12

An emphasis is placed on proper income statement item recognition under what approach under US GAAP?

Business
1 answer:
Over [174]3 years ago
3 0

Answer:

Revenue /expense approach

Explanation:

As we know that the income statement recognized only the revenues and the expenses and if the revenue is more than the expenses so the company is earning profit else it would suffered loss

So for proper income statement, the item recognized under US GAAP should be placed in revenue and expense approach as it comes under the income statement and the same is to be considered

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TiliK225 [7]
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And D. This is something specific you cannot just pay attention to not just expenses but what you earn, what budget and etc. 

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2 years ago
A 60-year old retiree is in a very low tax bracket. He has a low risk tolerance and wishes to make an investment that will provi
pickupchik [31]

Complete Question:

A 60-year old retiree is in a very low tax bracket. He has a low risk tolerance and wishes to make an investment that will provide income. Which is the BEST recommendation?

Group of answer choices.

A. Mid-cap common stock

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Answer:

C. Bank CD

Explanation:

In this scenario, a 60-year old retiree is in a very low tax bracket. He has a low risk tolerance and wishes to make an investment that will provide income. A Bank certificate of deposit (CD) is the best recommendation.

A bank certificate of deposit (CD) can be defined as a secured form of time-bound deposit and a special low-risk savings account, wherein money (lump-sum) are left with the bank for a specific period of time in exchange for an interest rate premium.

Generally, a certificate of deposit pays a higher interest rate to its holder than the regular savings account because the banks invest the money in a business.

<em>Additionally, the bank certificate of deposit is protected and insured by the Federal Deposit Insurance Corporation (FDIC) for up to $250,000.</em>

4 0
2 years ago
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Rom4ik [11]

Answer:

a tax bracket refers to a range of income subject to a certain income tax rate.

Explanation:

so basically it's just a range of income taxed at a given rate

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3 years ago
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Nadusha1986 [10]
I pretty sure it’s B
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Answer:

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Explanation:

6 0
2 years ago
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