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ICE Princess25 [194]
3 years ago
5

Net Purchases + Purchases Returns and Allowances + Purchase Discounts equals:

Business
1 answer:
allochka39001 [22]3 years ago
4 0

Answer:

OB. Gross Purchases.

Explanation:

Gross purchases represent all the purchases a business made in a particular period. It includes returns outwards ( purchases returns),  discounts and allowances received.

Net purchases are calculated by subtracting purchase returns, discounts received, and allowances from gross purchases.

Therefore, Net Purchases + Purchases Returns and Allowances + Purchase Discounts= gross purchases.

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At the broadest level, the financial system moves the economy’s scarce resources from
Igoryamba

Answer: A - the rich to the poor

Explanation: At the broadest level, the financial system moves the scarce resources from the rich to the poor.

This means that at this level, the rich save more of the resources because they have more than enough while the poor borrows more cause they do not have enough to spend now and would prefer to borrow to meet their needs.

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3 years ago
Larkspur, Inc. issued $432,000, 7%, 20-year bonds on January 1, 2020, at 104. Interest is payable annually on January 1. Larkspu
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Answer and Explanation:

The Journal entry to record the issuance of the bond is as follows:

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2 years ago
The adjustment for overapplied overhead ______ net income.
tester [92]

Answer:

<em>The adjustment for overapplied overhead </em><em><u>decreases cost of goods sold and increases</u></em><em> </em><em>net income</em>

6 0
2 years ago
Tips are considered _____.<br> dividends<br> taxable income<br> gains<br> a bonus
adoni [48]
Tips are considered <u>taxable income.
</u>Although they are a bonus that you get from your customers, on top of your paycheck, you still have to pay a tax on your tips given that in America, tips are considered to be a type of income. You'd get a dividend from a company, not from customers. Gain is just another word for profit. <u>
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3 0
3 years ago
Read 2 more answers
The penalty for a substantial understatement is triggered when ____
zysi [14]

Answer:

The correct answer is A

Explanation:

A substantial understatement may occur when tax return is understated by an amount greater than 10% of the tax required to be shown on the tax return.

Example: If a tax payer that is suppose to report a $6000 tax due and choose to report a $2000 instead, to know if a penalty will be charged or not it has to be greater than 10% of the amount which is suppose to be reported (i.e $6000 x 10% = 600) . therefore in the case shown above the penalty will be applied

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3 years ago
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