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Scorpion4ik [409]
3 years ago
7

The net operating loss (NOL) provisions of the Internal Revenue Code a.Are primarily designed to provide relief for trade or bus

iness losses. b.Require the use of a 2-year carryback in all cases. c.Allow the deduction for home mortgage interest to create an NOL. d.Would not be necessary if tax rates were progressive. e.Apply only to individuals with wages and itemized deductions.
Business
1 answer:
Amanda [17]3 years ago
7 0

Answer:

The correct answer is letter "B": Are primarily designed to provide relief for trade or business losses.

Explanation:

The Net Operating Loss or NOL was enacted to offset the differences between taxpayers' deductions due to progressive rates involved in tax calculations. The excess accounted are used as part of tax payment for the company's future tax periods. NOLs could be the result of theft, confiscation or trades. Thus, NOL provisions attempt to partly cover those business losses.

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Gordon would like to win back his customer by giving him tickets to a major league baseball game, but he knows his company frown
-BARSIC- [3]

Answer: ethical

Explanation:

Gordon would like to win back his customer by giving him tickets to a major league baseball game, but he knows his company frowns on this type of activity. Gordon is facing ethical dilemma.

Ethical dilemmas, is a dilemma that has to do with morals and principles which involves an option that isn't ethically acceptable. In this scenario, Gordon's company doesn't support activities like giving free tickets to customers and at the same time, he wants to win back his customer. He is faced with ethical dilemma as he's aware that giving out the ticket won't be supported by his company even though to him,it feels like the right thing to do to win back his customer.

7 0
3 years ago
A company reported that its bonds with a par value of $50,000 and a carrying value of $57,000 are retired for $60,000 cash, resu
kherson [118]

Answer:

b.$60,000 outflow.

Explanation:

Cash flows from financing activities

Retiring value of bonds for cash    -$60,000

Cash flow from financing activities -$60,000

Since the cash flow statement records only cash transactions. So in the given case, the bonds are retired for $60,000 in cash that reflects the cash outflow and the same is to be presented on the financial statements

3 0
3 years ago
Discuss national income​
Anni [7]

Explanation:

The overall amount of a government's finished product of any and all additional goods produced and services provided with one year is national revenue. The guiding principle for economics and finance is recognizing how national income is produced.

7 0
2 years ago
A firm does not expect to pay dividends in the next four years. beginning five years from today, the firm expects to pay a const
abruzzese [7]
From the data given above, the investor required rate of return on the firm's stock is 10% and is equal to $4,75 that is expected to be paid each year.
If $4.75 = 10%, then the price of the stock which is 100% will be equal to $4,75 * 10= $47.50.
Therefore, the current price of the stock is $47.50.
4 0
2 years ago
Read 2 more answers
In preparing a bank reconciliation, the amount of an error indicating the recording of a check in the journal for an amount larg
never [62]

The statement is true.

In preparing a bank reconciliation, the amount of an error indicating the recording of a check in the journal for an amount larger than the amount of the check is added to the balance per the company's records because the excess amount would be reduced from the bank balance in the company's records, So the company books are not correct. To make them correct the excess amount should be added back to the balance as per the company's records.

For example, if the check amount was 500 but the company recorded it as $550. Then means that the company records show $50 less compared to the bank statement. Therefore, that $50 is added back and then it comes equal to the bank statement balance.

When a note is written to settle open account an entry that converts the accounts receivable account to a note receivable account is required. This entry is required because when the note is written to settle accounts the company has to receive notes in the future and the amount of the account.

<em>Your question is incomplete. Please read below to find the missing content.</em>

In preparing a bank reconciliation, the amount of an error indicating the recording of a check in the journal for an amount larger than the amount of the check is added to the balance per company's records.

TRUE

FALSE

Learn more about balance here: brainly.com/question/1115815

#SPJ4

6 0
1 year ago
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