Answer:
An S corporation.
Explanation:
The S corporation was formed by Congress, for use by small business owners, offering the best characteristics of both a C corporation and a partnership.
It has become the most popular business entity type in recent years. Numerous studies indicate lower overall taxes are paid when an S corporation is utilized.
Common Characteristics of S and C Corps:
-Same liability protection
-Separate legal entities
-The owners are shareholders
-Long standing case law
-Easy transfer of ownership
-Broader range of deductible expenses
Answer:
QC
Explanation:
US dollar used to be backed by gold but this is not the case anymore. US dollar being as a flat currency is backed by governemnt through federal reserve.
Short-term price reductions that can be used to retaliate against a competitor's actions like introducing a new product are called deals.
Instead of considering an asset's long-term fundamentals, short-term trading mostly concentrates on price action. This trading strategy looks for market volatility around significant economic data releases, corporate earnings, and political events in an effort to profit from sudden changes in market prices.
A mutual agreement or communication between two or more parties that intend to conduct business is referred to as a business deal. The transaction is typically carried out between a seller and a buyer to exchange valuable assets including money, products, services, and information.
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Answer and Explanation:
Data provided
Depreciation = $185 million
The Journal entry is shown below:-
Depreciation expense $185 million
To Accumulated depreciation $185 million
(Being depreciation expenses is recorded)
Here we debited depreciation expense as expenses are increasing whereas we credited the accumulated depreciation as the assets decreasing.
