<span>it is true that under the specific charge-off method, a deduction for a bad debt is taken when the debt is determined to be worthless. </span>
Answer:
GARCH is a statistical model that can be used to analyze a number of different types of financial data, for instance, macroeconomic data. Financial institutions typically use this model to estimate the volatility of returns for stocks, bonds, and market indices
Answer:
b. Financing activities.
Explanation:In the financial activities section of the statement of cash flows, the operations related to the entry and exit of funds for activities that increase the liability or stockholders´equity, but that do not make the main activity of the company must be recorded. Such as: issuance of common stock for cash.
Answer:
Flip Flop Inc can still treat Interests as Interest expense and treat penalties as Fees, dues, and subscriptions.
Explanation:
Interest expense is a non-operating expense shown on the income statement. It represents interest payable on any borrowings – bonds, loans, convertible debt or lines of credit. It is essentially calculated as the interest rate times the outstanding principal amount of the debt
Penalties can be categorized under deductible expenses called Fees, dues, and subscriptions.
Levies and other fees paid to an accountant or bank; memberships fees to professional organizations, subscriptions to industry publications and funds paid as penalties are all deductible.
