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4 years ago

It is advisable to spend less money on wants than you do on needs.true or false

Business

2 answers:

tankabanditka [31]4 years ago

6 0

True , because a want is not a necessity

aev [14]4 years ago

5 0

True, you don’t want to spend more money on wants instead of needs because if you do you won’t have enough money for things that you really need.

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The type of account and normal balance of unearned consulting fees is revenue, credit liability, credit liability, debit expense

alexdok [17]

The unearned consulting revenues are liabilities. A liability, in accounting terms, is an obligation and is found in the balance sheets of companies or businesses. When a company does transactions with other individuals or companies usually they owe amounts to creditors for the goods or services the company acquires. In another sense, a liability is a source of the company’s assets. They can also be considered as claims against the company’s assets. A liability may also include those amounts received by the company in advance of future services. Liabilities include accounts payable, notes payable, salaries payable, interest payable, bonds payable, accrued expenses payable, etc. Their normal balance is credit.

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4 years ago

Since the FICA tax is split equally between employers and employees, we can conclude that the incidence of this tax is also equa

shepuryov [24]

Answer:

Since the FICA tax is split equally between employers and employees, we can conclude that the incidence of this tax is also equally shared.

a. True

Explanation:

The incidence of the FICA tax refers to the extent to which an individual employee or the employing organization suffers from the imposition of the FICA tax. In the final analysis, the incidence may not be borne by the organization but consumers of its goods and services, depending on the elasticity of demand. Employers and employees usually split the FICA tax equally. The FICA (Federal Insurance Contribution Act) refers to the federally mandated tax for Social Security and Medicare.

4 0

3 years ago

In order to determine if a home is fairly priced or not, it is important to look at the home's:

Charra [1.4K]

In order to determine if a home is fairly priced or not, it is important to look at the home's:

C. price per square foot.

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3 years ago

Read 2 more answers

On January 1, 2020, Gerald received his 50% profits and capital interest in High Air, LLC in exchange for $2,000 in cash and rea

Y_Kistochka [10]

Answer:

$4,000;$3,500

Explanation:

Calculation to determine How much loss can Gerald deduct, and how much loss must he suspend if he only applies the tax basis loss limitation

Calculation for How much loss can Gerald deduct

Gerald's loss Deduction = [$2,000 + $3,000 - $2,000 + (50% × $2,000)]

Gerald's loss Deduction =[$2,000 + $3,000 - $2,000 + $1,000]

Gerald's loss Deduction=$4,000

Calculation for how much loss must he suspend

Loss to Suspend=(50%*$15,000)-$4,000

Loss to Suspend=$7,500-$4,000

Loss to Suspend=$3,500

Therefore the amount of loss that Gerald can deduct is $4,000 and the amount of loss that he must suspend if he only applies the tax basis loss limitation is $3,500

3 0

3 years ago

Identify which documents Max needs to open a bank account.

MissTica

Government issued picture ID, as well as a second form of ID. Preferably a social security card.

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3 years ago