Answer:
In simple word, The given case relates to the practice of saving the lobbying interest by the political groups using monetary transaction and rules. It is beneficial for such a lobby group to set up a non-profit company.
Community groups can gain financial security by establishing non-profit organisations inside the organization. AARP uses the money from its insurance company to fund its legislative activities.
Answer:
B) Something a person is able to do.
Explanation:
On my assignment, got it correct.
Answer:
Cash basis OF accounting method $701,600
Accrual basis of accounting method$726,500
Explanation:
Computation of Al's gross income for 2020 using cash basis of accounting method
Gross income
Cash $687,600
Add advance payment $14,000
Total $701,600
Therefore Al's gross income using cash basis of accounting method will be $701,600
Computation of Al's gross income for 2020 using accrual basis of accounting method
Cash received $701,600
($687,600+$14,000)
Less: Income received but will not be earned until 2021 ($14,000)
Less: Beginning of year accounts receivable ($57,600)
Add End of year accounts receivable $96,500
$300,000
Total $726,500
Therefore Al's gross income using accrual basis of accounting method will be $726,500
Balance Sheet and income statement account include supplies, amount payable for interest and salaries.
<h3>
What is a Balance Sheet?</h3>
Balance Sheet are financial statement that shows a company's assets and liabilities.
The pair of balance sheet and income Statement account that can require adjustment include,
- Supplies of goods and services
- Unearned Revenue
- Salaries and Wages Payable
- Interest Payable
- Income Tax Payable Balance
This adjustment is dependent on the amount of increase or decrease that is made on the account.
Therefore, Balance Sheet and income statement account include supplies, amount payable for interest and salaries.
Learn more on balance sheet here,
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Answer:
B
Explanation:
By high school teachers, professors from 2 year colleges, and professors from 4 year colleges
