The answer is: activity-based management.
Answer:
Sole Proprietorship
Explanation:
Sole proprietorships own all the assets of the business and the profits generated by it. They also assume complete responsibility for any of its liabilities or debts.
Answer: Option B and C
Explanation: In simple words , contingent liabilities refers to the liabilities the occurrence of which depends on the happening of an event that may or may not occur in the future.
These are recorded in the accounts only when the payment is to be made in future and that payment could be reasonably estimated.
Hence the correct option is B and C
Gift splitting permits a married couple to merge their gift tax exemptions to help enhance the advantages of tax-free gifting.
<h3>What is a gift-splitting gift?</h3>
This method is not automatic, and the ability to split gifts requires that certain prerequisites are met, including the consent of both spouses on a pointed federal gift tax return.
Gift splitting allows a wedding couple to combine their gift tax exemptions to help enhance the advantages of tax-free gifting.
The unified tax credit gives a set dollar quantity that an individual can gift during their lifetime and give on to heirs before any gift or estate taxes apply.
To learn about unified tax credit visit the link
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Answer:
- <em>Underestimating your income is a conservative and healthy measure that can avoid financial problems.</em>
Explanation:
<em>Underestimating</em> your <em>income</em> is a conservative and healthy measure, such as it is overestimating your expenses.
Specially when your income is variable iit can be hard to predict. You will be safer both if your income lowers or your unpredictable expenses increase.
There are many unpredictable situations that could put you in a difficult situation: a disease, a natural disaster, the need to help a family member or friend in trouble. If any of these unfortunate circumstances arises and your budget is too tight, you could see yourself in financial trouble.
But, if you if all is smooth you will have in a happy situation, you will have a surplus which can use for savings, for an important purchase, or for vacations.
It is better to be cautious than to regret later!
