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3 years ago

Which statement best describes the SEC rules relating to bookkeeping services?

Business

2 answers:

Len [333]3 years ago

7 0

An accountant generally cannot provide bookkeeping services to an SEC audit client.

Anuta_ua [19.1K]3 years ago

7 0

Answer:

D) An accountant generally cannot provide bookkeeping services to an SEC audit client.

Explanation:

Bookkeeping services refers to basically recording the financial transactions of a business, storing the business's accounting "books" (computer records) and retrieving them upon the business's request.

Therefore if an accountant is going to participate in the preparation of the financial statements of a business, then he cannot audit himself.

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Do you think that tax cuts increase economic growth and taxable income so much that tax revenue increases? Or do you think that

algol13

Answer:

lowering taxes raises disposable income allowing the consumer or adult to spend additional sums.

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3 years ago

Sklar, CPA, purchased from Wiz Corp. two computers. Sklar discovered material defects in the computers 10 months after taking de

Nuetrik [128]

Answer:

<em>End up losing because it is legally binding the clause that would limit the statute of limitations to 18 months.</em>

Explanation:

Within UCC 2-725, in cases that involve the exchange of goods, a 4-year restriction law applies. The parties can reduce the duration to not less than 1 year (but not extend it).

When a delivery tender is made, an action for violation of warranty accrues (the statute begins to run).

However if the warranty specifically applies to future performance and violation disclosure must postpone that performance, the penalty will occur when the breach is discovered or should have been discovered.

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3 years ago

Which of the following is one of the first things you should do when preparing to present yourself to employers?

GrogVix [38]

You did not provide a list but I feel you should dress professionally and be prepared to talk in a professional manner. I hope this helps. :)

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3 years ago

Read 2 more answers

Briefly explain the distillation process of alcohol.

marishachu [46]

Answer:

Distilling is essentially the process whereby a liquid made of two or more parts is separated into smaller parts of desired purity by the addition and subtraction of heat from the mixture. The vapours/liquids distilled will separated other ingredients that have lower boiling points.

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3 years ago

Braxton Enterprises currently has debt outstanding of million and an interest rate of . Braxton plans to reduce its debt by repa

Vika [28.1K]

Answer:

Interest tax shield in year 0 = $1.155 million

Interest tax shield in year 1 = $0.924 million

Interest tax shield in year 2 = $0.693 million

Interest tax shield in year 3 = $0.462 million

Interest tax shield in year 4 = $0.231 million

Interest tax shield in year 5 = 0

Explanation:

Here is the complete question :

Braxton Enterprises currently has debt outstanding of $55 million and an interest rate of 6%. Braxton plans to reduce its debt by repaying $11 million in principal at the end of each year for the next five years. If Braxton's marginal corporate tax rate is 35%, what is the interest tax shield from Braxton's debt in each of the next five years?

interest tax shield is a reduction in tax paid as a result of interest paid on debt

interest tax shield = (debt amount x interest rate x tax rate)

Interest tax shield in year 0 = $55 million x 0.06 x 0.35 = $1.155 million

Debt in year 1 = $55 million - 11million = $44 million

Interest tax shield in year 1 = $44 million x 0.06 x 0.35 = $0.924 million

Debt in year 2 = $44 million - 11million = $33 million

Interest tax shield in year 2 = $33 million x 0.06 x 0.35 = $0.693 million

Debt in year 3 = $33 million - 11million = $22 million

Interest tax shield in year 3 = $22 million x 0.06 x 0.35 = $0.462 million

Debt in year 4 = $22 million - $11 million = $11 million

Interest tax shield in year 4 = $11 million x 0.06 x 0.35 = $0.231 million

Debt in year 5 = $11 million - $11 million = 0

Interest tax shield in year 5 = 0 x 0.06 x 0.35 = 0

5 0

3 years ago