Answer:
Option b. Differs from accounting income due to differences in interperiod allocation and
permanent differences between the two methods of income determination.
Explanation:
Corporation examples are joint stock companies, joint accounts, associations, insurance companies e.t.c.
A Corporation taxable income is simply defined as a part of its profits generated by corporations that is collected by the Federal and State government as an income tax. It is known as a direct tax. It is placed on the net income or profit of a corporate organization. The tax rate for corporation uses the slab rate system or method of taxation that is based on the type of corporate entity and the different revenues gotten by them individually.
Conscience is the inner feeling which tell us what is right or wrong. It controls our actions, thoughts and behavior. So the answer is: In ethics, our conscience is what tells us whether something is <span>a. Wrong or right</span>.
Answer:
the cost of the merchandise sold for November if the company uses LIFO is c. $590
Explanation:
LIFO Inventory System sells the Inventory recently acquired first followed by the Older Inventory Acquired.
<u>Cost of the merchandise sold for November - Calculation</u>
November 4 : 10 units × $19 =$190
November 17 : 20 units × $20 =$400
Total =$590
Answer:
There are three stages of assignment of costs to each product and these are as under:
- Allocation
- Apportionment
- Absorption / Activity Based costing
So this question relates to stage one. Suppose the following situation:
There are 2 departments and they have following expenses
Department A has a supervisor whose annual salary is $30000
Department B has a worker whose annual salary is $22000
Department A & B have shared a rented property for there operations.
Department A and B also shares electricity bills and annual electricity charges stand almost $80,000
Now the directly attributable / traceable cost to Department A are those that are hundred percent related to Department A. In this example, we saw that supervisor salary is the only cost that is hundred percent related to Department A. Likewise Worker's salary is also relateable to Department B. Whereas the rental cost and electricity bills are not directly attributable to these departments. So this means the manufacturing costs that are directly traceable are those that hundred percent relates to the manufacturing departments.
How much money to give federal agencies
