Answer:
a. The DVDs, CDs, albums, and video games held for sale to customers.
Classification: Assets
b. A long-term loan owed to Citizens Bank.
Classification: Liability
c. Promotional costs to publicize a concert.
Classification: Expense
d. Daily sales of merchandise sold
Classification: Revenue
e. Amounts due from customers
Classification: Asset
f. Land held as an investment
Classification: Asset
g. A new computer purchased for office use.
Classification: Expense
h. Amounts to be paid in 10 days to suppliers
Classification: Liability
i. Amounts paid to property owner for rent.
Classification: Expense
As not everybody can afford designer items, those who can, typically buy such items to increase their self-esteem, and/or view it as an accomplishment. Also, many will do so in a way to view themselves in a higher class than others.
Answer:
Tax return preparers may generally rely on a client's representations without verification unless the information seems incorrect, inconsistent, or incomplete, Option A.
Explanation:
A "tax return preparer" usually relies in good faith without verification upon information furnished by a taxpayer or another advisor or third party. But he has the authority to make inquires in case he feels the information given is incomplete or inconsistent. Also, some of the provisions also require few circumstances or facts to be claimed before deduction is made. So, A tax return preparer should make relevant inquiries to decide if the information given is correct as required by an "Internal Revenue Code" section or a regulation to claim either a deduction or a credit.
The selling price per hat is mathematically given as
S=$62
<h3>What is t
he selling price per hat?</h3>
Direct labor hours required to produce first 100 hats=10hr
Direct labour cost =20hr*60$/hour = $1200
Other Direct cost =100hats*19$/hat = $1900
Total Direct cost. = $3100
Selling price is 200% of Direct production cost
$3100*200% = $6200
The selling price per hat = $6200 / 100hats
The selling price per hat = $62
In conclusion, The selling price per hat = $62
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The answer is D. It reduced their risk when cotton prices were low.
