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3 years ago

Extra pairs of shoes and music downloads are examples of

Business

2 answers:

s344n2d4d5 [400]3 years ago

6 0

Answer:

These are examples of <u><em>WANTS!</em></u>

Explanation:

natka813 [3]3 years ago

5 0

Answer:

Wants

Explanation:

Wants can be defined as something you wish or desire to have. It may not necessarily be a pressing need so wanting to own extra pairs of shoes and music downloads are examples of wants.

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What is the purpose of NCUA Lending Regulations?

Dafna11 [192]

The purpose of NCUA Lending regulation is to create stability and to keep a fair condition in a lending process. A foul or a fraud in the lending process could easily have been made if there is a bad intention in either creditor or debtor in the lending process<span>. An intention for not paying a credit agreement is one of this foul example.</span>

8 0

3 years ago

Read 2 more answers

Berkshire Inc. uses a periodic inventory system. At the end of 2015, it missed counting some inventory items, resulting in an in

zlopas [31]

Answer:

Assets understated by $510,000, liabilities understated by $153,000 and shareholders' equity understated by $357,000.

Explanation:

An understatement of closing inventory will have the following effects,

First of all the inventory as an asset is understated by $510,000

Second, this inventory was subject to deduction from the Cost of goods sold as, Cost of goods sold = Opening Inventory + Purchases - Closing Inventory.

Since this amount was not subtracted from the CGS, the gross profit and ultimately the Net profits were understated by $510,000.

This will be added in the net profits.

With an increase in net profits, the tax payable amount also increases. This is calculated as 510,000 * 0.30 = $153,000

So total change in profits is = 510,000 - 153,000 = $357,000

While $153,000 is still payable and is recorded as a tax payable liability.

Thus,

Assets understated by $510,000

Liabilities Understated by $153,000 (tax payable)

Share holders equity understated by $357,000 (part of retained profits)

Hope that helps.

6 0

4 years ago

To qualify as a pass-through entity for U.S. corporate income tax, a REIT must be all of the following EXCEPT

Mashcka [7]

To qualify as a pass-through entity for U.S. corporate income tax, a REIT must be all of the following EXCEPT : <u>Jointly owned by less than 100 persons.</u>

<h3>What Is a Real Estate Investment Trust (REIT)?</h3>

A real estate investment trust (REIT) is a company that owns, operates, or finances income-generating real estate.

Modeled after mutual funds, REITs pool the capital of numerous investors. This makes it possible for individual investors to earn dividends from real estate investments—without having to buy, manage, or finance any properties themselves.

To qualify as a REIT, a company must comply with certain provisions in the Internal Revenue Code (IRC). These requirements include to primarily own income-generating real estate for the long term and distribute income to shareholders.

Specifically, a company must meet the following requirements to qualify as a REIT:

Invest at least 75% of total assets in real estate, cash, or U.S. Treasuries
Derive at least 75% of gross income from rents, interest on mortgages that finance real property, or real estate sales
Pay a minimum of 90% of taxable income in the form of shareholder dividends each year
Be an entity that's taxable as a corporation
Be managed by a board of directors or trustees
Have at least 100 shareholders after its first year of existence
Have no more than 50% of its shares held by five or fewer individuals

Therefore, we can conclude that the correct option is D.

Your question is incomplete, but most probably your full question was:

To qualify as a pass-through entity for U.S. corporate income tax, a REIT must be all of the following EXCEPT

a.structured as a corporation, trust, or association.

b.have transferable shares or certificates of interest.

c.managed by a board of directors or trustees.

d.jointly owned by less than 100 persons.

Learn more about REIT on:

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3 0

2 years ago

17. What action is the Commission allowed to take if it has cause to believe that a licensee is about to violate escrow account

OleMash [197]

The Commission can sue to enjoin any violation action.

Before money or assets are transferred from one party to another in a transaction, a neutral third party is said to be keeping them. This third party is referred to as escrow. Until both the buyer and the seller have complied with the terms of the contract, the third party keeps the money.

Escrow is a legal term that refers to a financial arrangement in which a third party holds an asset or money on behalf of two other parties who are carrying out a transaction. The escrow agent is in charge of escrow accounts. Only after certain contractual duties have been fulfilled does the agent release the assets or funds. Escrow can be used to hold several types of assets, including cash and securities.

To know more about escrow refer to:

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3 0

2 years ago

Which is used for determining the hours of care and staff required for a group of clients?

Ganezh [65]

Answer:

8 to 12

Explanation:

6 0

3 years ago