Answer:
Purchase discounts is a contra revenue account. Revenue accounts carry a natural credit balance; purchase discounts has a debit balance as a contra account. On the income statement, purchase discounts goes just below the sales revenue account.
Answer:
B. E-tax returns
Explanation:
E-tax returns is the electronic filing of tax returns via the internet. It entails online submission of pre-approved tax return forms available on the tax authority's website.
In recent years, governments have put measures to facilitate e-returns. It has simplified the process making it popular among taxpayers. Electronic tax filing has have contributed to having a high number of citizens registering as taxpayers.
Answer:
True
Explanation:
Chief financial officer is one of the key positions at any company or firm. Chief financial officer plays a critical role in managing cash, account receivable and inventory management. He/She is responsible for handling the cash and managing the cash in such a way to remove chances of bankruptcy and shortages. Overall, it is an important post to complete all the tasks related to cash handling and inventory.
Answer:
Shill bidding
Explanation:
Shill bidding occurs when a seller takes on various digital identities by opening up several email accounts and bids on his or her own items multiple times to prompt genuine bidders to provide a much higher bid for an item than they would have done otherwise
Answer:
C. 25.5%
Explanation:
Net operating cashflow = (250,000 - 100,000) = 150,000; This is a recurring cashflow; the PMT
Cost of equipment; the PV = 400,000
Next, calculate the rate of return using Net operating cashflow per year and the equipment cost. You can do this with a financial calculator;
N =5
PMT = 150,000
FV = 0
PV = -400,000
then CPT I/Y = 25.41%
Therefore the return is closest to 25.5%
