Answer:
Traditional characteristics of property ownership, such as transfer, risk of loss, insurable interest, and right to encumber are "broken up" and subject to varying tests under the UCC to help create boundaries.
Explanation:
the Uniform Commercial Code (UCC), a standardized collection of guidelines that govern the law of commercial transactions.
Real estate ownership carries with it a complex set of rights, and the bundle of rights concept has traditionally been the way in which those rights are described and summarized.
Traditional characteristics of property ownership, such as transfer, risk of loss, insurable interest, and right to encumber are "broken up" and subject to varying tests under the UCC to help create boundaries and limits to control in other to avoid excesses.
Answer:
B. Income Tax Expenses
Explanation:
The Purpose of the Income Statement in Financial Statement Preparation is to ascertain the profit or loss of a business entity for a particular year. Usually, the format is as follows:
1. Gross Profit= Sales- Cost of Goods sold(Opening Inventory + Purchases- Closing Inventory)
2. Net Profit/ Net Loss = Gross Profit + Other Revenues and Gains - Expenses for the period.
However, income tax expense is only calculated when the net profit has been ascertained. It is usally referred to as net income before tax. It is based on this figure, that the income tax expense is then calculated based on prevailing income tax percentage.
Every other part of the income statement covers a section, but all sections should be calculated and concluded before the income tax expense can be calculated and then subtracted to arrive at the final income tax.
Answer:
c) Statement of Net Position; Statement of revenues, expenditures, and changes in fund balances; Statement of Cash Flows
Explanation:
Proprietry funds are accounts that are part of governmental institutions and non profits organizations and these require a high standard of transparency and accountability, so they are require to provide to the government the next statements: tatement of net assets; a statement of revenues, expenses, and changes in fund net assets; and a statement of cash flows.
This is accordingly to the summary of statements N. 34 from the Governmental Accounting Standards Board.
Answer:
Dialogue with a goal of helping another be more effective and achieve his or her full potential on the job is referred to as coaching.
Answer:
Required:
Prepare the stockholders’ equity section of the balance sheet at December 31.
Explanation:
check the file attached for the balance sheet at December 31.
