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3 years ago

Inflating your income to get a loan approved is:

Business

1 answer:

Deffense [45]3 years ago

3 0

Answer:

If you falsely inflate your income, decrease your rent/mortgage payment, claim to be employed when you aren't or neglect to report your entire debt load, you may be approved for more credit. This may sound tempting, especially if you're in financial straits, but it's illegal

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Formal tax definition

const2013 [10]

Answer:

Formal tax legislation is the process by which a proposed tax rule or tax change may become law in the United States. Formal tax legislation follows specific steps as defined by the U.S. Constitution.

Explanation:

4 0

2 years ago

Read 2 more answers

The signing of the project portfolio statement signals the transition from the high-level project initiating stage into the more

OLga [1]

Answer:

False

Explanation:

Signing a project charter rarther than project portfolio signal the trasition of a project from high level initiating phse into a more detailed project planning stage.

cheers.

5 0

3 years ago

Royal Lawncare Company produces and sells two packaged products—Weedban and Greengrow. Revenue and cost information relating to

slega [8]

Answer:

Contribution is sales revenue less variable cost. In multiple products environment, it is important that the producer have information about the performance of each product. This is useful for decision making purpose. See income statement below

Explanation:

An income statement showing contribution would suffice:

Royal Lawrence Company

Income statement

Weedban Greengrow Total

$ $ $

Sales (sp/unit × unit) 315,000 900,000 1,215,000

Variable cost (Vc/unit × units) (98,000) (325,000) (423,000)

Contribution 217,000 575,000 792,000

Specific fixed cost (132,000) (37,000) (169,000)

Product profit 85,000 538,000 623,000

Common Fixed cost (100,000)

Total profit 523,000 

4 0

3 years ago

Read 2 more answers

an audit manager) has been assigned to the audit of Tandem Electric, Inc. Dorothy is concerned that Joanne, a friend from her co

zhannawk [14.2K]

I thought it would be B. Because if she is doing audit and knows someone in the company that is helping with the audit, she is NOT legally able to do the audit! That is what I learned in accounting anyway. I am not sure though just an input.I would pick B.

6 0

2 years ago

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On January 1 of the current year, Tell Co. leased equipment from Swill Co. under a 9-year sales-type (finance) lease. The equipm

Salsk061 [2.6K]

Answer:

The yearly depreciation on the asset is $56,111.11

Explanation:

In calculating the right-of-use asset on a lease,the present of value of future cash payments,that is lease liability amount is added to any lease payments paid on or before commencement of lease agreement,direct initial costs,as well as with any likely amount to be incurred in restoring asset's site or dismantling the asset after usage.

In this case,only present value of future cash flows is available,hence that is the amount of right-of-use to depreciated over nine year period.

Depreciation=$505000/9years

=$56111.11

7 0

3 years ago