10. none of the above.
explanation: all of the reason are applicable for determining the homeowners insurance premium.
11. Whole life insurance
Explanation: whole life insurance, has steady, more expensive premiums than term insurance since it lasts a lifetime and includes fixed death benefits and guaranteed cash value accumulation.
Answer: Synapse
Explanation: The synapse is a specialized (functional) intercellular approach between neurons, either between two association neurons, a neuron and a recipient cell or between a neuron and an effect or cell (almost always glandular or muscular). In these contacts the nerve impulse transmission takes place.
Answer:
$400,000
Explanation:
Since at December 31, Year 5, Tedd's tax advisor believed that an unfavorable outcome was <u>probable</u>. And a <u>reasonable estimate </u>of additional taxes was $400,000 but could be as much as $600,000.
Although after the Year 5 financial statements were issued, Tedd received and accepted an IRS settlement offer of $450,000.
Tedd should have included an amount of $400,000 as accrued liability in its December 31, Year 5 balance sheet
The reason is that according to the International Financial Reporting Standards, a PROVISION must be made as long as the conditions below were obtainable at year end.
- Existing Condition (which in this case is the tax dispute with the IRS)
- Probable Cash Outflow (which Tedd's Tax adviser confirmed)
- Reliable Estimate of Outflow ( which the scenario stated ''A reasonable estimate of additional taxes was $400,000'')
Hence, such 'reasonable estimate is the appropriate amount for inclusion in the financial statements.
False. Price ceilings, provided there are no other government policies in place, will cause deadweight loss. Diagram provided.
