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laiz [17]
3 years ago
15

The penalty for a substantial understatement is triggered when ____

Business
1 answer:
zysi [14]3 years ago
3 0

Answer:

The correct answer is A

Explanation:

A substantial understatement may occur when tax return is understated by an amount greater than 10% of the tax required to be shown on the tax return.

Example: If a tax payer that is suppose to report a $6000 tax due and choose to report a $2000 instead, to know if a penalty will be charged or not it has to be greater than 10% of the amount which is suppose to be reported (i.e $6000 x 10% = 600) . therefore in the case shown above the penalty will be applied

You might be interested in
A bond indenture is
Lena [83]

Answer:

C. A contract between the corporation issuing the bonds and the bond trustee, who is acting on behalf of the bondholders.

Explanation:

A bond indenture specifies the contract which is between the bond issuers and bond holders. The contract specifies all the obligations owed by the issuers to the bond holders.

In this case the right definition of indenture would be a contract between the corporation issuing the bonds and the bond trustee, who is acting on behalf of the bondholders.

Hope that helps.

5 0
3 years ago
Which phrase best describes the purpose of a slide master? Check all that apply.
Ksju [112]

Answer: to establish the layout of all slides, or a group of slides, in a presentation.

to determine the theme of all slides, or a group of slides, in a presentation.

to allow users to apply changes in layout or theme to an entire presentation.

Explanation:

It should be noted that the Slide Master refers to the top slide which controls the information regarding the background, fonts, theme, layout, and color of all the slides in Microsoft PowerPoint.

The phrase best describes the purpose of a slide master include:

• to establish the layout of all slides, or a group of slides, in a presentation.

• to determine the theme of all slides, or a group of slides, in a presentation.

• to allow users to apply changes in layout or theme to an entire presentation.

Therefore, the correct options are C, D and F.

8 0
2 years ago
This year Mary received a $600 refund of state income taxes that she deducted on her tax return last year. Mary included a total
Mariulka [41]

Answer:

$600

Explanation:

If instead of itemizing, Mary had elected the standard deduction last year, then she wouldn't have to include any state income tax refund on her current gross income. But since she itemized her deductions and actually deducted these $600 from her gross income last year, she must include them in he current gross income.

5 0
2 years ago
For example, in the high end segment analysis on the left, total demand is 2554 and next years growth rate is 16.2% next years d
Evgen [1.6K]

Answer:

2968

Explanation:

total demand is 2554

growth rate is 16.2%

Next year total demand = 2554 + growth (total demand x 16.2%)

= 2554 + 2554*16.2/100

= 2554 + 413.748

= 2967.748

= 2968

8 0
3 years ago
Read 2 more answers
Balance sheet and income statement data indicate the following: Bonds payable, 6% (issued 2000, due 2020) $1,200,000 Preferred 8
9966 [12]

Answer:

The correct option is A,5.72 times

Explanation:

The number of times that interest charges gives a sense of how financial stable is in its ability to pay interest on bonds as at when due.It is key consideration for prospective bondholders when assessing whether to buy bonds in a particular company

Number of times interest charges earned=net income before interest/interest

net income before interest charges=net income+interest charges

net income is $340,000

interest charges=$1,200,000*6%=$72,000

net income before interest charges=$340,000+$72,000=$412,000

number of times interest was earned=$412,000/$72,000=5.72

4 0
2 years ago
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