GAAP requires you to use accrual based accounting (where revenue is earned and expenses are incurred) and not cash based.
So, The type needed is choice A.
I recommend Bizcom to install <u>an extranet, to enable quick collaboration over the Internet, minimize the time spent communicating with the client, and minimize the amount of paperwork needed</u>.
<u>Explanation</u>:
Extranet is a kind of private network that helps organizations to exchange the information securely over Internet. The extranet can be used by vendors, suppliers and authorized set of customers to enable communication.
Internet helps in enabling quick collaboration and also reduces the paperwork. As all the information can be confidentially shared and stored using the Internet, the use of paper can be reduced. The time spent for communicating with the client can also be reduced.
In the above scenario, Bizcom has its consultants from various places. It is difficult to travel to every place and organize meeting. So installing an extranet can help them in keeping connected.
Answer:
B) $5.860.53
Explanation:
The computation of the future value is shown below:
= Principal amount × (1 + rate of interest)^number of years
= $5,500 × (1 + 0.016)^4
= $5,500 × 1.016^4
= $5.860.53
Hence, the second option is correct
Answer:
A. The majority of the tax will be borne by the producer.
Explanation:
When an Indirect Tax (impact & incidence on different people) is levied : The burden of it is shifted to the party (buyers/ sellers) whose element (demand/ supply) is more inelastic (less responsive to price).
In this case: If demand for Carlo Rossi wine is relatively elastic (because of substitutes presence) - levying tax on it will hence imply major burden to be borne be producer (because demand is relatively elastic).
b,c : All tax will be borne passed to consumer / producer - if demand is perfectly inelastic/ if supply will be perfectly inelastic respectively.
d: Majority tax will be borne by consumer - if demand is relatively inelastic (than supply)
