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3 years ago

The financial statement that reports the revenues and expenses for a period of time such as a year or a month is the

Business

1 answer:

Dafna11 [192]3 years ago

3 0

Answer:

Income Statement

Explanation:

The purpose of an income statement is to shows stakeholders whether the company generated a profit in that specific year or not. They use this information as a basis to create their plan for the next year.

In simple form, Income statement is calculated by:

(Total sales + non-operating revenue ) - (Cost of goods sold + Operating expenses)

If the result of the calculation above is positive, it means that the Company generated a profit. But if it's a negative, it means that the company had a loss in that period.

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Amy, a single individual and sole shareholder of Brown Corporation, sold all of the Brown stock for $30,000. The stock basis was

emmasim [6.3K]

Answer:

A) a $50,000 ordinary loss and $70,000 LTCL

Explanation:

given data

Brown stock = $30,000

stock basis = $150,000

time = 3 year

solution

we know that here stock is Section 1244 stock and original owner is Amy

first loss is for single individuals is = $50000

and this loss is treated as a ordinary loss LTCL because stock held more than 12 month

remaining amount = 70000

and we know it take here time 3 year

so total loss realized is

total loss realized $50000 + $70000

total loss realized = $120000

so correct option is A) a $50,000 ordinary loss and $70,000 LTCL

7 0

3 years ago

A stadium is considering an offer from Mass Insurance to change the name to Mass Stadium. The company is offering to pay $1,000,

tino4ka555 [31]

Answer:

b) 1,250,000

Explanation:

1,000,000+ 250,000 = 1,250,000

8 0

3 years ago

In which situation may completion of an approved refresher course or 120 hours of continuing education most likely be required

mel-nik [20]

A practicing nurse who allowed her license to lapse about 7 years ago because of family raising may be required to complete an approved refresher course or 120 hours of continuing education.

A nurse can opt to let their medical license lapse if they want to raise a family since they need to give a full attention.

However, the nurse can obtain new license by completing an approved refresher course or 120 hours of continuing education.

Read more about this here

<em>brainly.com/question/4666914</em>

6 0

3 years ago

If the Trial Balance columns are not equal and the difference can be evenly divided by 9, then the error most likely is a transp

saw5 [17]

Answer:Yes

True

Explanation:

A transposition error is a data entry error that is caused by inadvertently switching two adjacent numbers. ... For example, the number 63 is entered as 36, which is a difference of 27. The number 27 is evenly divisible by 9. This can surely cause discrepancies in the trial balance

7 0

3 years ago

You are the primary system administrator for a large Active Directory domain. Recently, you have hired another system administra

KengaRu [80]

Answer:

D) Use the Delegation of Control Wizard to assign the necessary permissions on the OU that the new employee is to administer.

Explanation:

As for the information provided, we know that when some work is to be delegated then, care has to be taken, that the work when delegated, will require delegation of responsibilities and the right to have access to some authorities to do such work.

Here the new administrator needs to have the authority to access the specific OU. And now, the administrator needs to delegate such rights for new password. Also, the administrator shall not access to passwords of other OU.

Accordingly for this, the company shall delegate with control wizard.

5 0

3 years ago