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3 years ago

Which of the following statements is FALSE?

Business

1 answer:

Mandarinka [93]3 years ago

3 0

Answer:

C. The annual percentage rate indicates the amount of interest including the effect of compounding.

Explanation:

Annual interest rate, indicates the simple interest that can be earned annually on the investment, until and unless it is clearly mentioned to be compounded with the time period defined it cannot be concluded that the interest is carrying the compound benefit.

Therefore, the above stated option C is a false statement.

Final Answer

C. The annual percentage rate indicates the amount of interest including the effect of compounding.

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The Jones are a married couple and have always filed joint tax returns. On May 18, 2017, the couple was assessed with tax defici

Katena32 [7]

Answer:

c. May be able to avoid liability to the extent she had no reason to know of the deficiency (and did not have actual knowledge) when filing the return. The burden of proof will be on her.

Explanation:

The doctrine of innocent spouse relief might apply here. Mrs. Jones will have to prove that:

the income that was omitted was earned by her husband, not her.
she must prove that when she signed the tax filings, she was not aware of the omission.
after examining all the facts surrounding the omission, the IRS must decide that blaming her would not be fair.

8 0

2 years ago

The following financial information is presented for three different companies. Determine the missing amounts.

Leto [7]

Answer:

Note: The organized question is attached

d. Net income = Income from operating - Other expenses and losses

Net income = $15,000 - $4,000

Net income = $11.000

f. Gross profit - Sales - Cost of goods sold

$38,000 = $95,000 - Cost of goods sold

Cost of goods sold = $95,000 - $38,000

Cost of goods sold = $57,000

h. Income from operations = Net income - Other expenses and losses

Income from operations = $11,000 + $7,000

Income from operations = $18,000

g. Income from operations = Gross profit - Operating expenses

$18,000 = $38,000 - Operating expenses

Operating expenses = $38,000 - $18,000

Operating expenses = $20,000

7 0

2 years ago

Each of the following transactions appear on the statement of cash flows, EXCEPT: A. depreciating longinus lived assets. B. acq

KiRa [710]

Answer:

C. disposing of long minus lived assets for non cash proceeds

Explanation:

As we know that

Cash flow statement deals with the cash inflow and cash outflow of cash payments which increase or decrease the cash balance.

In another words, the inflow of cash increases the cash balance whereas the outflow of cash is decreases the cash balance

It includes operating activities, investing activities, and the financing activities.

Since all the given options includes the cash transactions except c.

3 0

2 years ago

A marketing professor in Ithaca, New York, maintains a museum of failed consumer products. Most new products in this museum fail

Nesterboy [21]

Answer:

test marketing

Explanation:

Test marketing is an experimental test of a product in a real life market. Buyers are studied in live shops or market without them knowing. It is conducted on a small scale to see the effectiveness of a marketing strategy.

When the products do not perform well at the test marketing phase it is assumed it will not also perform well in the real market, so they are termed failed products.

The marketing manager in Ithaca maintains a museum of failed consumer products from the test marketing stage.

4 0

3 years ago

On April 30, 2015, Zono Electronics, Inc. made a payment of $3,500 to Imperial Distributors, a supplier. Choose the statement th

pav-90 [236]

Answer:

A) Debit cash, credit accounts receivable

Explanation:

As the statement said, Zoono electronics made a payment which means they are debiting cash amount of $3,500 to imperial distributor who is a supplier. So the best statement that best describes the recording of this financial transaction by imperial distributor is their account receivable has been credited and cash is debited. All the other options are wrong except this.

3 0

2 years ago