1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
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
What is the name of the company that made and had their own branding on unofficial nintendo entertainment games.
Sidana [21]

Tengen is the name of the company that made and had its own branding on unofficial Nintendo entertainment games.

<h3>Tengen</h3>

It was incorporated on December 21, 1987. In 1988, Tengen emitted its first and only three games authorized by Nintendo: R.B.I. Baseball, Pac-Man, and Gauntlet. Meanwhile, Tengen privately worked to avoid Nintendo's lock-out chip called 10NES which granted it control over which games were published for the NES.

<h3>Nintendo Co., Ltd.</h3>

Nintendo Co., Ltd. is now the biggest video game business by revenue, as a Japanese multinational customer electronics corporation headquartered in Kyoto, Japan.

To learn more about Nintendo visit the link

brainly.com/question/15698254

#SPJ4

8 0
1 year ago
If an account has a credit balance it means​
Brums [2.3K]

Answer:

If the total of your credits exceeds the amount you owe, your statement shows a credit balance. This is money the card issuer owes you. You can call your card issuer and arrange to have a check sent to you in the amount of the credit balance.

Explanation:

Hope this help!!

6 0
2 years ago
With relationship selling the salesperson would spend most of his or her contact time with the prospect talking about the produc
Vadim26 [7]

True, With relationship selling the salesperson would spend most of his or her contact time with the prospect talking about the product, hoping to close the sale.

<h3>What is the difference between relationship selling and consultative selling?</h3>

The difference between relationship selling vs. consultative selling is that relationship selling consists of building a relationship with a customer over a long time and then relying on that relationship for sales as opposed to short-term gains and creating an interest in the customer in consultative selling

To learn more about relationship selling, refer

brainly.com/question/28120879

#SPJ4

4 0
1 year ago
Journalize the following transactions for Reed Company. Assume a perpetual inventory system. Also, assume a constant gross profi
igor_vitrenko [27]

Answer:

The Journal entries are as follows:

(i) On April 6,

Cash A/c Dr. $5,000

To Sales                     $5,000

(To record the cash sales )

(ii) On April 6,

Cost of goods sold A/c Dr. $3,000

To merchandise inventory               $3,000

(To record the cost of goods sold)

(iii) On April 12,

Sales return and Allowances A/c Dr. $630

To cash                                                          $630

(To record the sales return)

(iv) On April 12,

merchandise inventory A/c[(630 ÷ 5,000) × 3,000] Dr. $378

To cost of goods sold                                                                     $378

(To record the cost of sales return and allowances

4 0
3 years ago
For a sale, the original retail price of a particular shirt and the original retail price of a particular hat were both reduced
max2010maxim [7]

Answer:

Explanation:

Given:

Discount = original price × discount fraction

Discounted price = original price - discount

Discount fraction = 20%

= 20/100

A.

Original price of shirt = $x

Original price of hat = $(x + 10)

Discounted price of shirt = $x - $0.2x

= $0.8x

Discounted price of hat = $(x + 10)

- 0.2$(x + 10)

= $0.8 × (x + 10)

Difference of discounted price of hat to shirt = 0.8(x + 10) - 0.8x

= $8

B.

Original price of shirt = $x

Original price of hat = $ 1.5 × x

Discounted price of shirt = $x - $0.2x

= $0.8x

Discounted price of hat = $ 1.5 × x

- 0.2 × $ 1.5 × x

= $ 1.2x

Difference of discounted price of hat to shirt = 1.2x - 0.8x

= $ 0.4x

3 0
3 years ago
Other questions:
  • Which of the following describes the effect of the purchases that consumers
    10·2 answers
  • Sandra Morris is presently leasing a small business computer from Eller Office Equipment Company. The lease requires 10 annual p
    10·1 answer
  • When the government decreases spending or increases taxes to slow economic expansion, the government is conducting: a contractio
    10·1 answer
  • Insurance that protects a homeowner in case of a property ownership dispute is called:
    13·2 answers
  • Managing quality helps build successful strategies of A. ​differentiation, low cost and service. B. ​differentiation, time and r
    13·1 answer
  • Pamela was injured in an auto accident by an uninsured driver. Pamela filed a claim with her insurer, American Mutual, for $2,00
    8·1 answer
  • A company had a beginning balance in retained earnings of $44,300. It had net income of $7,300 and paid out cash dividends of $5
    12·1 answer
  • Because it is needed for the schedule of expected cash collections, the annual master budget file includes the.
    9·1 answer
  • Other things the same, an increase in velocity means that a. the rate at which money changes hands falls, so the price level ris
    8·1 answer
  • Inadvertently, morris leaves his backpack at nuway launderers when he stops to pick up his clothes. the backpack is:____.
    11·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!