Answer:
If partner owned computers or IRS loaned computers or printers are lost or stolen, the partner is required to notify the IRS _immediately____. Partners should provide all information that is readily available to the local SPEC Territory Office.
Explanation:
All incidents of stolen and lost equipment must be reported to the IRS immediately, at least a day after the incident is reported. As part of the condition for the IRS-loaned equipment, partners are expected to report incidents of stolen and lost equipment not later than the next business day after the confirmation of the incident. If the lost or stolen equipment contained taxpayer PII data, the partner must report the loss of PII data based on the data breach guidance. This is why it is necessary to safely keep some information pertaining to the equipment, including the serial number, make, barcode, etc.
Answer: Local- content laws
Explanation: In simple words, these refers to the rules and regulation made by the government requiring foreign firms to use domestic resources if they want to operate in that economy.
In the given case, Thailand requires foreign companies selling milk products to use domestically produced milk for their production.
Hence from the above we can conclude that the economic risk involved is regarding to local content laws.
Answer:
Cash was collected from customers during the year was $ 104,100
Explanation:
Sales revenue = $120,000
Bad debt expense = 2.5% of sales
Therefore, Bad debt expense = $120,000 x 2.5% = $3,000
Thus, allowance for uncollectible accounts should have increased by $3,000. But it increased by $2,100.
Therefore, uncollectible accounts receivable of $900 ($3,000 - $2,100) were written off during that year.
Cash collected from customers = Sales revenue - Increase in accounts receivable - Uncollectible accounts written off
= $120,000 - $15,000 - $900
= $104,100
Answer:
$2,685
Explanation:
Calculation to determine the machine's net present value
NET PRESENT VALUE
Year Cash flow*Discount factor at 8% =Discounted Cash flows
0 $ -40,000*1= $-40,000
1 $ 12,000*0.9259= $11,111
2 $12,000*0.8573=$10,289
3 $ 12,000* 0.7938=$9,526
4 $16,000*0.7350=$11,760
NET PRESENT VALUE $2,685
($-40,000+$11,111+$10,289+$9,526+$11,760)
Therefore the machine's net present value is $2,685
The answer to this questions is "substitution effect" and the "income effect". Thus, we can have a complete sentence such as below:
Josh's wages rise and he decides to work more hours, we know that "substitution" effect has dominated the "income" effect.
