Answer:
$17,850
Explanation:
since Boxer's tax depreciation exceeded its book depreciation by $20,000, it must report a current tax liability = (total income x tax rate) - (excess depreciation x tax rate)
= ($105,000 x 21%) - ($20,000 x 21%) = $22,050 - $4,200 = $17,850
This means that Boxer has to pay $17,850 in income taxes.
Answer: a. menu costs
Explanation:
Menu Costs of inflation are the costs associated with sellers and suppliers having to update their prices whenever they increase.
This is the cost of making new tags, updating catalogues, updating websites and anything that has to do with updating price.
It gets it's name from Restaurant menues having to be reprinted when prices rise.
Jacques is experiencing Menu Costs.
Answer:
Yes, any intentional misrepresentations by the applicant should be enough to permit the insurer to deny coverage for a loss even if the misrepresented fact had no relationship to the loss
Explanation:
This is because in case of any intentional misrepresentations the insurer gets a right of recession that is based upon fraud.
In this case the misrepresentation by Hamza voids the policy ab-initio (i.e. at its inception). This is because the misrepresentations by Hamza in this case were with regards to material facts related to the property and this misrepresentation may have induced the insurer to act and thus insure the property. Here the misrepresentations were that the property had a sprinkler system and always had a guard on duty. These two material misrepresentations led the insurer to make an incorrect risk assessment with regards to property and this incorrect and lower assessment of risk profile of the building led the insurer to provide insurance coverage.
Thus, we can conclude that even though the misrepresentations made by Hamza had no relationship to the loss but still the insurer can deny coverage in this case.
You are likely to be working in the accounting field for public companies. A public accountant is an accountant that works for publically traded companies instead of companies in the private sector. Public companies are traded on the public stock exchange so they allow others to purchase share in their stock. A public accountant and a private accountant have similar rolls when it comes to inside the company documents but are different when they deal with public trade or not.
Answer:
Mass Production Era (1860s-1920s): The production era began during the Industrial Revolution. Products were produced in mass and at a low cost. Typically businesses only produced one product at a time. Also during this era, businesses had the mindset of, “if produced, someone will buy” and thus increase profitability.