Answer:
Misrepresentation.
Explanation:
In this scenario, on its advertisement, a company claims that it has funds in its possession that are in fact not available for payment of losses or claims. The company is guilty of misrepresentation.
Misrepresentation can be defined as an untrue or misleading statement of fact made by a party to an individual or group of people to deceitfully lure or induce them to go into a contract. A company stating in its advert that it has funds in its possession but in the true sense or actual fact do not have the funds for payment of losses or claims; such a company is engaging in a fraudulent act and is liable to prosecution in any court of competent jurisdiction.
Answer:
Jim could file as a head of household and qualify for higher deductions and earned income credit for one child.
Sally should file her taxes as a single filer since she has very low income so she falls under the first tax bracket, she can also file for earned income credit for one child.
Answer: Cost of goods sold = $62500
Explanation:
Given that,
Sales revenue = $183,000
Ending inventory = $12,600
Beginning inventory = $15,600
purchases = $64,000
purchases discounts = $4,000
purchase returns and allowances = $1,500
freight-in = $1,000
freight-out = $500
Cost of goods sold = Beginning inventory + purchases - purchases discounts - purchase returns and allowances + freight-in - Ending inventory
= $15,600 + $64,000 - $4,000 - $1,500 + $1,000 - $12,600
= $62500
