Answer:
The second statement is true.
Explanation:
- The school is dependent on what state the 529 is registered with.
- Option 3 is not a benefit
- 529 contributions are made with after tax dollars, only interest earned and distributions are tax deffered.
Answer:
D) make mutual investments in specialized assets.
Explanation:
I'm not sure about the exact background of the question, but if you are trying to build a trust relationship with another company, the best way to do it is by investing together.
E.g. if company A is interested in securing an important supplier, instead of trying to acquire it, they might try to invest together in some assets or another business. That way, when it comes to deciding which company should receive discounts or prioritize their requirements, the supplier will always favor their business partners.
Answer:
c. $24,500
Explanation:
The allowance for doubtful accounts is a contra-asset account that records the amount of receivables expected to be uncollectiblea, makes a reduction of the total amount of accounts receivable appearing on a company’s balance sheet. There are two way to estimate uncollectible accounts: the percentage of sales method and the accounts receivable aging method.
ABC Company uses the percentage of sales method - application a flat percentage to the total amount of net credit sales for the period.
Estimated uncollectible = 3% x $750,000 = $22,500
The company establishes an allowance for doubtful accounts for $22,500 while simultaneously reporting $22,500 in bad debt expense.
Before adjusting on December 31, 2004, the Allowance for Doubtful Accounts had a credit balance of $2,000.
The balance in the allowance for doubtful accounts after adjustment is $22,500 + $2,000 = $24,500
The term that is being referred above is the Personal Balance Sheet or Statement. This shows the result of your assessment as to what you own and what you can owe. This assessment aims to check your financial health and the status of your personal finances. Answer to this is the first option.
Answer:
No.
Explanation:
The contract is no longer valid because of changes in the condition of offer. By the operation of law, the occurrence of certain events will automatically terminate an agency relationship. Since Mark expressly stated that the reason he was selling the estate was because he has lost so much money, any significant cash inflow to Mark apart from the sale of the estate will ultimately affect his decision to sell. As such, the lottery he won is a cash flow and since a vital condition for selling the estate has been breached. The contract is to be declared invalid.
