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2 years ago

Overdraft protection means the bank will protect your funds from excessive taxation.

2 answers:

5 0

The correct answer is (a.) True. Overdraft protection means the bank will protect your funds from excessive taxation. This protection is most likely to be offered by small business since it helps them to gain additional income fees.

Bess [88]2 years ago

3 0

That statement is true.

When you sign for a overdraft protection, the Bank would send many notification on your account to prevent you from using more money for consumption that you actually have in the bank.

This would help you to prevent excessive taxation because the amount of money used for personal consumption is not eligible for tax deduction.

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what tax software program do you feel would be your best choice today and why do you think it is the best?

Fynjy0 [20]

Answer:

Turbotax

Explanation:

it's easy to use especially for first timers.

6 0

2 years ago

During the year, credit sales amounted to $820,000. Cash collected on credit sales amounted to $780,000, and $15,000 has bee

Katena32 [7]

Answer:

The ending balance in the Allowance for Bad Debts is 20,500 CREDIT

Explanation:

The ending balance of Allowance for bad debts would be the 2.5% of sales

The adjustment is made to get the allowance for Bad Debt match the estimate uncollectible ammounts.

Notice it state "company adjusted for bad debt expense"

This means it debit this account as much as it needed to be to make allowance match the estimate allowance.

The write-off are transaction durign the period. They are irrelevant

So the ending balance is:

2.5% of credit sales of 820,000 = $20,500

It is important to remember that Allowance is a counter-asset account. His normal balance is credit, so the final balance is credit.

3 0

2 years ago

In a standard cost accounting system, the entry to record purchase of raw materials on account for $13500 when the standard cost

Sedaia [141]

Answer:

a. Debit to raw material inventory for $12,750, debit to material price variance $750 and credit to account payable for $13,500.

Explanation:

Date Journal Entry Debit Credit

Raw Material Inventory $12,750

Material Price Variance $750

Accounts Payable $13,500

3 0

3 years ago

The situation where the buying power of money in terms of goods and services increases is called:_____

Alla [95]

The situation where the buying power of money in terms of goods and services increases is called deflation

In economics, deflation is a general decline in the price level of goods and services. Deflation occurs when inflation falls below 0% (negative inflation). Inflation depreciates a currency over time, while sudden deflation increases it. As a result, more goods and services can be purchased with the same currency than before. Deflation is different from disinflation, which is a slowdown in the rate of inflation. H. Inflation is declining but still positive.

Economists generally consider sudden deflationary shocks to be a problem in the modern economy. This is because the real value of debt increases, especially if deflation occurs unexpectedly. Deflation can also exacerbate the recession and lead to a deflationary spiral.

Learn more about deflation here: brainly.com/question/13562161

#SPJ4

6 0

1 year ago

If the price level doubled in a 23-year period, we can conclude that the average annual rate of inflation over that period was a

galina1969 [7]

The given statement " If the price level doubled in a 23-year period, we can conclude that the average annual rate of inflation over that period was about 3 percent " is TRUE

Explanation:

Though prices doubled during the 23 years, the average annual inflation rate during that time could be inferred by approximately 3 percent.

The average inflation rate in the USA has been 3% over the last 100 years. That said, in measuring shorter periods starting in the 1950s, the average rates are much higher.

Many financial experts working with pending pensioners emphasize the importance of contributing to pension scheming an average inflation rate. Since inflation will reduce the value of savings considerably, it is important to determine how and when this powerful economic phenomenon will affect the savings.

3 0

2 years ago