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3 years ago

Cost outlays are recorded as an expense when they are incurred to earn revenue in the _______________ accounting period

Business

1 answer:

Deffense [45]3 years ago

8 0

Answer:

Present

Explanation:

An outlay cost is a cost incurred at the time when we have to execute the strategy or purchasing an asset. It can be paid to the vendors for purchasing the goods like for inventory. So this cost should be recognized as an expense when they are incurred in order to earn the revenue in the current or present accounting period

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3 years ago

Each week your supervisor holds a meeting in which he invites you and all the other employees to give feedback regarding current

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3 years ago

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4 years ago

Which of the following is not a reason for relief from the substantial understatement penalty?A. reasonable cause and a good fa

bekas [8.4K]

Answer:

c- Reliance on a tax return preparer

Explanation

The substantial understatement penalty is a punishment that the IRS applies to taxpayers, it belong to the accuracy-related penalty. The IRS can impose it due to: careless, reckless, or intentional disregard of the rules or regulations. There are ways for taxpayer to avoid the penalty for taking a position on a return that is contrary to a rule or regulation if the taxpayer properly discloses the position, but reliance on a tax return preparer is not among the options, as it does not by itself constitute reasonable reliance in good faith; also, a taxpayer needs to discuss the issue with the adviser.

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3 years ago

Bassett Fruit Farm expects its EBIT to be $377,000 a year forever. Currently, the firm has no debt. The cost of equity is 13.3 p

skelet666 [1.2K]

Answer:

$1,729,098

Explanation:

Given that,

EBIT = $377,000

No debt.

Cost of equity = 13.3 percent

Tax rate = 39 percent

Value of issuing bonds at par = $2.7 million

Coupon rate = 6.5%

Therefore,

Unlevered value of the firm:

= [EBIT × (1 - Tax rate)] ÷ Cost of equity

= [$377,000 × (1 - 0.39)] ÷ 0.133

= $229,970 ÷ 0.133

= $1,729,098

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3 years ago