In general, real estate taxes are divided between the buyer and seller based on the number of days each party held (or will hold) the property during the tax year.
<h3>
What is Property tax?</h3>
- Real estate taxes and property taxes are the same things.
- They are levied on the majority of properties in the United States and paid to state and local governments.
- Property taxes (or real property taxes) generate funds that are generally used to help pay for state and local services.
- In general, real estate taxes are divided between the buyer and seller based on the number of days each party held (or will hold) the property during the tax year.
- Investors can defer taxation by selling a property investment and using the proceeds to buy another property in a 1031-like-kind exchange.
- Landowners can borrow against their current property's equity to make other investments.
Therefore, generally, real estate taxes for a tax year are divided between the buyer and the seller based on the number of days each party held (or will hold) the property.
Know more about Property tax here:
brainly.com/question/13887483
#SPJ4
Answer: They are applying a task separation policy that indicates that employees must change their roles regularly
Explanation: This change management helps to reduce the planned interruptions of the changes, so that everyone learns all the tasks and in case of a resignation, have the solution to fill the position and train new employees.
Answer:
The percentage change in quantity demanded is exactly equal to the percentage change in price. The percentage change in quantity demanded is exactly equal to the percentage change in price.
Answer:
The answer is B. Overstate net income by $38,000.
Explanation:
Accrued expense is an expense that has been enjoyed or incurred but has been paid for. Examples of an accrued expense are unpaid wages/salary, unpaid electricity bill etc.
Usually, the adjusting entry for accrued expense is to debit the expense and debit increases expense while credit decreases it. Since there is no adjusting entry, that means no expense is being recognized on the income statement for this transaction. Hence, the net income increases (overstated). because ordinarily expense reduces net income.
