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denpristay [2]
3 years ago
9

Tax return preparers may generally rely on a client's representations without verification unless:

Business
1 answer:
Valentin [98]3 years ago
4 0

Answer:

Tax return preparers may generally rely on a client's representations without verification unless the information seems incorrect, inconsistent, or incomplete, Option A.

Explanation:

A  "tax return preparer" usually relies in good faith without verification upon information furnished by a taxpayer or another advisor or third party. But he has the authority to make inquires in case he feels the information given is incomplete or inconsistent. Also, some of the provisions also require few circumstances or facts to be claimed before deduction is made. So, A tax return preparer should make relevant inquiries to decide if the information given is correct as required by an "Internal Revenue Code" section or a regulation to claim either a deduction or a credit.

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Zhang Company reported Cost of goods sold of $835,000, beginning Inventory of $37,200 and ending Inventory of $46,300. The avera
Lilit [14]

Answer:

Average inventory= $41,750

Explanation:

Giving the following information:

Beginning Inventory= $37,200

Ending Inventory= $46,300

<u>To calculate the average inventory, we need to use the following formula:</u>

Average inventory= (beginning inventory + ending inventory) / 2

Average inventory= (37,200 + 46,300) / 2

Average inventory= $41,750

6 0
3 years ago
To transform resources into profits, organizations combine type types of work - operations and ___________.
Vlad [161]

Answer: Apart from the resources, there are three important factors for production, these are work (people or man hours available), investment (machinery and equipment needed) and organization (business planning).

Explanation: The first three factors were selected by the classical economy where Adam Smith and David Ricardo appeared, to these other organizational factors have been added, however their objective is the same, so that a company achieves the goals set, it has the task of combining these factors in the best way possible. Example: maximize man hours, use the best machinery, that the land or resources are prepared for production.

4 0
2 years ago
Which of the following statements about comparative advertising is true? Comparative advertisements now constitute over 90% of a
alexira [117]

Answer:

Comparative advertisements need legal support for their claims and must not misrepresent competing products/brands

Explanation:

Comparative advertisement is also called advertising war. A competitor is named in the advertisement and reasons are given why the competitor's product is inferior to the one being advertised.

In this type of advertisement to prevent adverse legal action the company needs to carry out extensive research to provide legal backing for their claims.

Firms must also not misrepresent the competitor's product as this can lead to legal action.

3 0
3 years ago
The Car Service Center has the design capacity to perform an average of 60 repairs per day. The effective capacity of this repai
ELEN [110]

Answer:

(36 /60 ) * 100

Explanation:

Based on the information given the capacity  utilization percentage will be :

Capacity  utilization percentage= (36 /60 ) * 100

Capacity  utilization percentage=60%

Where,

36 per day represent Actual repairs number

60 repairs per day represent Design capacity

Therefore capacity utilization percentage is (36 /60 ) * 100

7 0
2 years ago
Dazzle Inc produces beads for jewelry making use . The following information summarizes production operations for June . The jou
Harman [31]

Answer:

Missing wordings <em>"Direct materials used $104,000, Direct labor used 177,000, Predetermined overhead rate (based on direct labor) 160 %, Goods transferred to finished goods 449,000, Cost of goods sold 461,000, Credit sales 980,000"</em>

<em />

Factory overhead = Direct Labor used * Predetermined Overhead rate

Factory overhead = 177,000 * 160%

Factory overhead = 283,200

Journal Entry                           Debit          Credit

Work in Process Inventory   $283,200

   Factory Overhead                                 $283,200

3 0
3 years ago
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