Answer:
charitable contribution deduction = $153000
Explanation:
given data
basis = $136,000
fair market value = $170,000
solution
we get here charitable contribution deduction that is express as
charitable contribution deduction = Basis + 50% of (Fair - basis) .......................1
put here value and we get
charitable contribution deduction = $136,000 + 0.50 ($170,000 - $136,000 )
charitable contribution deduction = $153000
The revenue recognition principle guides accountants in Answer: D determine when to record revenues. The revenue recognition principle lets accountants know when they need to record revenues and at what amount to record. The revenue recognition principle states not to record revenue until it has been earned in full.
Answer:
The auditor is entitled to collect the audit fee and is not liable for $90 000.
Explanation:
Ace & King did their job in a competent way, the fact that the company's controller was doing something illegal is not their responsibility. External auditors work with the information that is given to them and their job is limited to analyzing them and making their conclusions about them.
In this case, the controller was the person responsible for giving the information to the auditing company, so he had the chance to direct their conclusions. An external auditor is not responsible for what happens inside a firm, and if someone steals money or assets, he/she is responsible for it.
Answer:
b. rise, so demand in the market for foreign-currency exchange shifts right.
Explanation:
- An increase in the interest rates leads to a rise in the capital outflow as savings and investment lead to more net capital outflow.
- This is the movement of the assets on the company and is considered to be bad for the economy and leads to undesirable changes in the supply of the foreign currency as a shift in the demands of the consumers. This may result in political and economic instability.
