Answer:
b. professional bureaucracy
Explanation:
Bureaucracy refers to a kind of organizational structure which is governed by a clearly defined authority and rigid rules and regulations alongside long chain of hierarchy and reporting, which makes decision making a time consuming affair.
As per Mintzberg, professional bureaucracy is characterized by standardization of skills coupled with vertical and horizontal decentralization of responsibilities.
Such form of organizational structure allows for greater degree of autonomy and control to the professionals w.r.t their work. Such a bureaucracy recognizes the authority of professional expertise instead of the authority of hierarchy.
Such form of organizational structure is usually followed by schools, hospitals and universities wherein, the professional expertise of doctors and teachers define the authority instead of a pre existing chain of hierarchy that dictates what one is permitted to do.
Based on the information given, it should be noted that all proceeds are income tax free in the year that they're received.
<h3>
What is tax?</h3>
A tax simply means a compulsory levy that's paid by the people or companies to the government. It's important to achieve economic development.
For federal tax purposes regarding lump-sum life insurance benefits, it should be noted that all proceeds are income tax free in the year that they're received.
Learn more about tax on:
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Answer:
A. $1,300 "for AGI.
Explanation:
The computation of the deductible amount is shown below:
= Air fare to repair investment rental property + 50% × (Meals + tickets to a football game with hospital administrators)
= $1,000 + 50% × ($500 + $100)
= $1,000 + $300
= $1,300
For meals and tickets, 50% deduction is applicable whereas for the air fair full deduction is applicable
And, for investment in seminar no deduction is allowed
Answer: A. Total Assets are overstated as of May 31, 2020 and May 2020 Net Income is overstated
Explanation:
Capitalizing the costs of the maintenance means that the $14,000 was taken to the Machinery Account which is an asset when in fact it should have been taken to the Maintenance Expense account which is an expense. This will increase the Asset account for May by $14,000 when it should not have meaning that the Asset account is now Overstated.
Net Income is acquired by deducting expenses from Sales/Revenue. The $14,000 which should never have been recorded as an Asset but instead as an expense, will mean that this Expense will not be deducted from the Net Income because it is being recognized as an Asset. This will mean that the Net Income for May will be Overstated by $14,000 which was supposed to be removed from it.
Answer:
B) credit to Accounts Receivable for $1500.
Explanation:
The journal entry to record the given transaction is as follows
Cash $1,470
Sales discounts $30 ($1,500 × 2%)
To Account receivable $1,500
(Being the receipts of payment is recorded)
While recording this transaction we debited the cash as it increased the assets plus the sales discount is also debited and at the same time we credited the account receivable as it decreased the asset
