Answer:
Progressive because It is a tax in which the tax rate increases as the income increases.
Answer:
Income tax expense $1,000,000 Dr.
Deferred tax liability $7,750,000 Dr.
To income tax payable $8,750,000 Cr.
Explanation:
Given the following :
Pretax accounting income = $66 mollion
TAXABLE INCOME = $35 million
Tax rate = 25%
Income tax payable:
Income tax rate × taxable income
25% × 35,000,000
= $8,750,000
Deferred tax liability :
(pretax income - taxable income) × tax rate
($66 - $35) million × 25%
$31,000,000 × 25%
= $7,750,000
Income tax expense :
Deferred tax + income tax payable
$(8,750,000 - 7,750,000)
= $1,000,000
Answer:
$9,631
Explanation:
In 2019, the Standard mileage rate deduction for the business purposes is 58 cents per mile.
Therefore,
Her deduction is as follows:
= (No. of miles drove × 58 cents per mile) + Tolls associated with the business mileage
= (16,200 × 58 cents per mile) + $235
= 9,396 + 235
= $9,631
Therefore, by using the standard mileage method, her deduction is $9,631.
Answer:
(C).Marketing
Explanation:
According to the <u>marketing concept</u>, firms must develop strategies to <u>determine and satisfy the needs of their customers</u>,<u> increase sales of goods and services to earn maximum profit</u>, and also do better than their competitors.
This concept expects that finding out and satisfying the needs of customers better than competitors can, should be prioritized.
Answer:
The correct answer is letter "D": bonuses are deferred salary rather than extra pay for extra sales performance.
Explanation:
In the corporate world, entitlement culture refers to the workers' beliefs that they deserve a series of privileges. This tends to happen during growth periods. Employees assume that the optimal situation of the firm has to do with their performances then, the organization owes them.
An idea that is commonly spread under such a scenario is that bonuses and commissions are deferred salaries and not extra payment for outstanding performance.
