All large modern economies have become mostly market economies because market economies provide _________

Which of the following is NOT necessarily a characteristic of successful entrepreneurs?

Aleks [24]

3
That’s because all other ones are more positive and things you would like. Hope this helps! Please mark brainlist!

3 0

3 years ago

Mill Company began operations on January 1,2017, and recognized income from construction-type contracts under different methods

ANTONII [103]

Answer:

i. Deferred income taxes balance on December 2019 is $192,500

ii. Deferred tax asset.

Explanation:

Year Tax purpose Book purpose Difference Deferred tax book

2017 $400,000 $0 $400,000 $140,000

2018 $625,000 $375,000 $250,000 $87,500

2019 $750,000 $850,000 ($100,000) ($35,000)

Deferred tax asset balance on December 2019 = $192,500

Working

Deferred tax book

2017 = 400,000 * 35% = $140,000

2018 = 250,000 * 35% = $87,500

2019 = (100,000) * 35% = ($35,000)

ii. Book income is less than tax income in 2017 and 2018. Deferred tax asset would be accounted. Book income is higher than tax income in 2019. Deferred tax asset would be reverse (i.e. deferred tax liability). Balance at the end of December 31, 2019 would be Deferred tax asset.

4 0

3 years ago

An ad for asian sensations newest product line of snack foods encourages its readers to "thai something new." the creatives who

maksim [4K]

The creatives who designed this ad intended its headline to be an attention-getting device. It is defined as having to show an opening statement in which the speaker uses that is to be engaged to the attention of the audience are likely to be capture after the component of the introduction that the speaker has given.

4 0

3 years ago

Tax laws permit installment sales, which are recognized in the year of sale for financial reporting purposes, to be reported in

Lera25 [3.4K]

Answer:

lower; higher.

Explanation:

Taxation can be defined as the involuntary or compulsory fees levied on individuals or business entities by the government to generate revenues used for funding public institutions and activities.

The different types of tax include the following;

1. Income tax: a tax on the money made by workers in the state. This type of tax is paid by employees with respect to the amount of money they receive as their wages or salary.

2. Property tax: a tax based on the value of a person's home or business. It is mainly taxed on physical assets or properties such as land, building, cars, business, etc.

3. Sales tax: a tax that is a percent of the price of goods sold in retail stores. It is being paid by the consumers (buyers) of finished goods and services and then, transfered to the appropriate authorities by the seller.

Generally, installment sales are permitted or allowed by the tax laws in a country. Typically, they are recognized in the year of sale for the purpose of financial reporting. Also, installment sales for any goods or services are to be reported in the tax return, at a later time when cash is received from the customer (buyer).

This results in a deferred tax liability because taxable income is lower than financial income in the year of sale, and higher than financial income in later years when collected.

7 0

3 years ago

Rigney Inc. uses the allowance method to estimate uncollectible accounts receivable. The company produced the following aging of

ANEK [815]

Answer:

Total estimated bad debts = $9,400

Explanation:

days outstanding A/c Receivable % estimate

0-30 $77,000 1 $770

31-60 $46,000 4 $1,840

61-90 $39,000 5 $1,950

91-120 $23,000 8 $1,840

over 120 $15,000 20 $3,000

Total 200,000 $9,400

4 0

3 years ago

Read 2 more answers

All large modern economies have become mostly market economies because market economies provide __________.