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3 years ago

THESE ARE TRUE OR FALSE!! PLEASE HELP ASAP!!

Business

1 answer:

MakcuM [25]3 years ago

3 0

1. False
2. False
3. True
4. False
5. false
6. False
7. True
8. False
9. True
10. False

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The income and expenses of a corporation for federal income tax purposes are referred to as what type of income?a. nontaxableb.

weeeeeb [17]

Answer:

The correct answer is letter "C": tax.

Explanation:

The Federal Income Tax is collected by the U.S. <em>Internal Revenue Service</em> (<em>IRS</em>) based on the annual earnings of individuals, corporations and all legal entities. It is considered to be the largest source of revenue for the government. In general, they are called taxes.

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3 years ago

Blue Spruce Corp. uses the percentage-of-receivables basis to record bad debt expense and concludes that 2% of accounts receivab

dedylja [7]

Answer:

The adjusting journal entry would be:

Debit: Bad debts expense $5,317

Credit: Allowance for Doubtful Accounts $5,317

Explanation:

Debit: Bad debts expense $5,317

Credit: Allowance for Doubtful Accounts $5,317

Explanation of the entry:

Allowance for doubtful debts at the end of the year = $402,000 × 2% = $8,040

Credit balance at the start = $2,723

Allowance for doubtful accounts = $8,040 - $2,723 = $5,317

The Allowance for Doubtful Accounts presently has a credit balance of $2,723 and allowance for doubtful debt at the end of year is $8,040, you need to enter an additional credit amount of $5,317 into the Allowance for Doubtful Accounts. The other part of this adjusting entry will be a debit of $5,317 to Bad Debts Expense.

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3 years ago

Which of the following is not one of the three advantages of dealing with a financial intermediary?

larisa [96]

One of the disadvantages of dealing with a financial intermediary would be: <span> A financial intermediary shares risks.</span>

6 0

3 years ago

Read 2 more answers

Based on the spreadsheet below, what is the net cash flow? A 2-column spreadsheet showing Cash Inflows and Cash Outflows. Total

Vadim26 [7]

The net cash flow is <u>A. $290.</u>

The net cash flow is the difference between the cash inflows and the cash outflows. It can be positive or negative. When the cash inflows are greater than the cash outflows, the net cash flow is positive. The opposite is the case when the cash outflows exceed the cash inflows.

<h3>Data and Calculations:</h3>

Total Cash Inflows = $2,040
Total Cash outflows = $1,750
Net cash flows = $290 ($2,040 - $1,750)

Thus, the net cash flow based on the spreadsheet is <u>A. $290.</u>

Learn more about the net cash flow here: brainly.com/question/4326360

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3 years ago

If Barcelona has a core staff of restaurant managers and head chefs and contracts with staffing agencies to fill all other posit

Elden [556K]

Answer:

false

Explanation:

Barcelona has a network structure because it works with staffing agencies to fill many vacant positions.

When a company has a network structure, it works with other companies in order to produce a good or service (outsourcing). In this case, Barcelona outsources some of its human resources functions to other companies.

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3 years ago