The cost when someone borrows money from someone else is known as interest.
<h3>What is interest?</h3>
Interest rate is the cost of borrowing. It is the amount the borrower pays the lender for use of their funds. It is usually a function of the amount borrowed, length of the loan and the interest rate.
For example, if a person borrows $1000 for 1 year at an interest rate of 10, the interest that would be paid is: $1000 x 0.1 = $100.
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A tax preparer's high ethical standards protect taxpayers by option A: Providing them with an accurate return, including all tax benefits to which they are entitled.
A tax preparer's high ethical standards protect the tax preparer through except option D: Eliminating the need for preparer due diligence notes Mark for follow up
The statement that is accurate is option C: Beatrice may claim EITC based on Jordyn if her AGI was higher than Beth's and if she files first.
<h3>What are tax ethics?</h3>
Tax ethics, is known to be the term for the taxpayer's moral duty to pay taxes, is influenced by their interaction with the government as citizens. Tax evasion and tax ethics are frequently used synonymously.
When filing taxes, a tax preparer should take certain ethical considerations into account:
- Inform the appropriate third parties about the suspected fraudulent behavior.
- Inform the IRS and other tax authorities of the alleged fraudulent activities.
- Think about ending the engagement.
Therefore, one can say that anyone who prepares a tax return may now be held accountable for errors committed in filing a return for someone else due to a change in tax regulations that took effect more than ten years ago. An IRS monetary penalty may be imposed on a tax preparer who made errors on your return.
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Answer:
Correct answer is TRUE
Explanation:
Non-cash assets are expected to produce cash over time but the amount of cash they eventually produce could be higher or lower than the values at which the assets are carried on the books. Some factors that affects the value of non-cash assets are the general economic forces such as inflation or deflation, amortization or impairement itself of the assets. It maybe realized at favorable side (gain) or unfavorable (loss) side.
Answer:
C) -30.6%, 54.6%
Explanation:
95% Confidence Interval = (Average Return - 2*Standard Deviation, Average Return + 2*Standard Deviation)
=(0.12 - 2*0.213, 0.12 + 2*0.213)
= -30.6%,54.6%
Therefore, The 95% confidence interval for 2010 returns is -30.6%,54.6%.
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