Answer:
Comparability means using the same accounting principles from year to year within a company.
Explanation:
Comparability is a term often used in accounting operation to describe the degree or level to which the information shown in the financial statements of a particular company is relative or comparable with other various companies, over a given period of time.
Hence, in this case, the correct answer is "Comparability means using the same accounting principles from year to year within a company." Because the statement is not CORRECT.
Answer;
-Market value of the property
Explanation;
-Property tax or real estate tax is a tax charged on immovable property such as land and structures that are permanently attached to the ground such as a house, building, or land. Therefore; If you own a home, you pay property (real estate) tax directly to your local tax assessor or indirectly with your monthly mortgage payment.
-Personal property tax on the other hand, is an annual tax imposed on movable assets, such as mobile homes, RVs, vehicles, boats, planes, etc. For example, the portion of your vehicle's registration or license fee that's based on the value of the vehicle is considered a personal property tax.
Answer:
Create an agency relationship.
Explanation:
Listing agreements: It is an agreement between the broker of real estate and the owner of real estate property which develops the agency relationship so that the agreement would be legally binding to each other.
Plus in this agreement, the broker has is to act as the agent of the owner property. In return to this, the broker gets the commission from the owner.
Answer: Increase in assets and increase in liabilities.
Explanation: As we know that accounting equation is denoted as :-
Assets = capital + liabilities
where,
. Assets are the resources owned by the firm for the generation of revenue.
. Capital means the funds procured by company in the form of contribution by the owners or in the form of debt.
. Liabilities are the obligations on the company.
.
Purchase of office equipment on credit will result in increase in assets as office equipment is used for administration purposes and as it is purchased on credit it will also increase its liabilities.
