Answer:
PART A
A constructive receipt is a term often used in both accounting and taxation to describe the taxation of an income even when the income had not been received by the person being taxed.
IMPORTANCE OF CONSTRUCTIVE RECEIPTS
It guarantees the early payment of taxes without undue delays from the tax payer.
It ensures effective taxation by effective tracking of the tax payers.
PARTB
(B) Under the concept of constructive receipt, income is taxed when it becomes available to the tax payer. The taxpayer cannot defer the tax by refusing to accept payment.
Explanation:
Constructive reciept is of great importance and relevance in the field of cost accounting and taxation,it guarantees early payment of taxes and effective tracking of tax payers by the regulatory or taxation bodies.
Under the concept of constructive reciept, income is taxed when it becomes available to the tax payer and it can not be deferred by refusing to accept payment.
The correct answer in the space provided is the total
quality management. The total quality management is where it is responsible for
causing an improvement in regards of improving the ability of an organization
or group in a way of delivering their services or products to their consumers.
Answer:
The amount of cash required for payment within the discount period is $14454.
Explanation:
The account payables were due for 16800 after the purchase. When thegoods are returned, the accounts receivables fall by 2200 and the new balance becomes 16800 - 2200 = $14600.
The discount term states that if payment is made within the next 10 days of purchase, a 1% discount can be availed (1/10).
If the payment is made in discount period then discount received will be,
Discount received = 14600 *1% = $146
The cash required for payment will be 14600 - 146 = $14454
Answer:
$6,000
Explanation:
Purchase price = $75,000
Remaining life = 75 months
The amortization amount for each month (Am) is given by the total purchase price divided by the remaining life of the copyright.
Since the purchase was made in July, there are 6 months left in the current year. Therefore, Jorge's total amortization amount during the current year is:
Answer:
e. brand dilution.
Explanation:
Brand dilution is when a brand is weakened because it is overused. This usually occurs as a result of unsuccessful brand extension.
Undifferentiated products are products that are intrinsically identical and have high rate of substitution with products from other suppliers. Examples of undifferentiated products are milk , ice and gasoline.
I hope my answer helps you
